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Steve Young
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Steve Young
The Brazos Chamber Orchestra…
is excited to announce the 4th and final concert series for the 2023-2024 concert season. This has been a great concert season for the BCO with enthusiastic audiences. Thank you for making this possible. So, to end this season, the BCO gives you another of its eclectic programming. There is something for everyone!
Here are just a few of the titles that the BCO will be playing:
On a Hymnsong of Philip Bliss (It Is Well) arranged by David Holsinger;
Superman Returns, John Williams/John Ottman/arr. Victor Lopez;
The Sea Hawk, Erich Wolfgang Korngold/arr. Jerry Brubaker;
Closing the program will be the 1st movement of Symphony No. 4 in c minor D. 417, by Franz Schubert. Bring your family and friends and enjoy an evening of orchestra music played by the Brazos Chamber Orchestra. Free admission and donations are accepted.
Concert Dates:
Spring Orchestra Concert Series – April 2024
Sunday, April 21. The Center @ Pathway Church, Burleson
Monday, April 22 Granbury First United Methodist Church
Tuesday, April 23 Field Street Baptist Church Cleburne
SEE YOU THERE!!
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Steve Young
Dallas-Fort Worth home sales down 7 percent in March
DALLAS (Dallas Morning News) – North Texas home sales decreased by 7 percent in March, with prices slightly higher than in 2023. Data show 8,020 homes were sold in the area last month. Following a nearly 9 percent decline in 2023, January saw a 12.5 percent sales increase, but February experienced a slight 1.1 percent drop. The median price for single-family homes in the Metroplex was $395,000 in March, up by 1.3 percent from March 2023. Housing affordability remains challenging due to rising mortgage rates and weakening employment growth, slowing existing home sales.
Several of the lenders I work with have programs to help offset some of these challenges. Please contact me so we can see if they will work for you and your situation!
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Steve Young
‘Ongoing Potential For Expansion’ in Land Markets…
Land sales in 2023 rose nationwide by 1.2%, a return to balance after recent pandemic-era highs. That’s according to the latest Land Market Survey, published by REALTORS® Land Institute and NAR.
“Although this marks a slower pace compared to past performance, it highlights the market’s resilience and ongoing potential for expansion amidst challenging conditions,” the survey says.RLI and NAR shared their findings during a March webinar. The two organizations surveyed 4,600 RLI members and prospects in September 2023. There were 450 responses, of which 68% reported a land sale in the last 12 months. Here are some highlights:
Texas was a top market in 2023
Texas was home to 7.3% of land sales reported by survey respondents.Ranches led in Texas and Oklahoma
Ranches were 39% of 2023 land sales by REALTORS® in RLI’s Region 8.Regional land sales took a while
Texas and Oklahoma land included in the survey spent a median of 183 days on the market. “Land sales generally conclude within a 60-day period, while a notable 25% of these transactions are wrapped up in less than 30 days.”
Regional land sales inched down from 2022
Several Texas and Oklahoma land categories saw small year-over-year percent changes in 2023. Commercial land sales were down 3.6% and industrial land was down 3.3%. Meanwhile, developed land sales rose 1.8%.To read the report, visit rliland.com/Resources/Land-Market-Survey.
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Steve Young
Southlake holds top spot in North Texas wealth ranking, but Arlington ZIP code surges
ARLINGTON (Dallas Business Journal) – According to a recent Dallas Business Journal study of top-earning ZIP codes in the Metroplex, Southlake was the region’s wealthiest neighborhood for the sixth consecutive year, while Colleyville ranked second.
However, an Arlington ZIP code has surpassed prestigious neighborhoods like Highland Park and University Park to claim the third spot. This marks the first time Arlington has achieved such recognition.
Arlington’s 76005 ZIP code is experiencing rapid development, primarily due to the establishment of Viridian, a 2,000-acre master-planned community that is driving much of the wealth in the area.
The median income required to live comfortably in that area is reported to be $191,250 or higher, based on the latest U.S. Census Bureau data.
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Steve Young
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Steve Young
Texas Lawn-Tree Service
I’ve been using their services for several years and they do an excellent job with pricing you will love! Steve Young with RE/MAX
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Steve Young
Texas residential mortgage industry…
…welcomes upward trend for origination volume and values
COLLEGE STATION, Tex. (Texas Real Estate Research Center) – Optimism in the state’s residential mortgage industry is the strongest it has been in almost 18 months, according to the latest Texas Residential Mortgage Survey (TRMS). Respondents expect conditions to improve over the next two quarters.
“The mortgage survey revealed optimistic opinions regarding residential mortgage activity,” said Wes Miller, senior research associate at the Texas Real Estate Research Center at Texas A&M University (TRERC). “Although mortgage interest rates ticked back up in February, origination volume and values trended upward after sliding for most of 2023.”
The purchase-origination market drove the recent improvement, and there was a significant increase in the number of pre-approved customers looking for homes.
“Headwinds from 2023 remain sustained due to the continued high-interest rate environment, affordability struggles, and record-low housing inventory in most Texas markets,” said Texas Mortgage Bankers Association (TMBA) Vice President Jodie D. Morgan. “However, Texas is somewhat insulated from these challenges because our robust economy, lack of state income taxes, and no taxes on perishable goods help ease affordability issues compared to other regions.”
Mortgage bankers’ cautious optimism likely reflects measured improvement in key metrics:
- Growth in average hourly wages has outpaced the nation for the past eight months, providing additional purchasing power.
- The market for refinances has shown signs of stabilizing and is projected to expand through the first half of 2024.
- The number of existing homes sold through Texas Multiple Listing Services (MLS) increased year-over-year for the second straight month in February after 21 consecutive months of decline.
“Cautious optimism is emerging, and homebuilders’ positive outlook is on the rise. Plus, there was a modest increase in existing-home sales in January that provided a much-needed boost to mortgage pipelines,” Morgan said.
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ABOUT THE SURVEY
The Texas Residential Mortgage Survey (TRMS) is a collaborative effort between the Texas Mortgage Bankers Association (TMBA) and TRERC to provide an analysis of conditions and changes in the residential mortgage industry. Designed as a monthly sentiment survey to gauge current conditions and expectations in and around the Texas residential mortgage industry, all TMBA members are invited to participate.ABOUT TRERC
The Texas Real Estate Research Center at Texas A&M University (TRERC) is the nation’s largest publicly funded organization devoted to real estate research. Founded by the state legislature in 1971 to meet the data and knowledge-sharing needs of many audiences, including the real estate industry, instructors, researchers, legislators, and the public, the Center creates public content, including digital and print documents, publications, and multiple-format videos, which are available at the Center’s website. Subscribe to TRERC news releases and other publications here.
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Steve Young
DFW leads nation in population growth
DALLAS-FORT WORTH-ARLINGTON (Dallas Morning News)
The DFW area led the nation in population growth last year, according to the latest U.S. Census Bureau data.
In 2023, the Metroplex added 152,598 residents for a total of 8.1 million. Houston had the second-largest growth with 139,789 residents, bringing its total to 7.5 million. The next largest was Atlanta with 68,585 (total of 6.3 million). Austin and San Antonio ranked seventh and ninth with growth of 50,105 (to almost 2.5 million) and 48,071 (to 2.7 million), respectively.
Eight of the top ten U.S. counties for population growth were Texas counties, with Harris County being first (53,788), Collin County second (36,364), and Montgomery County third (31,800).
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Steve Young
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