As former president George W. Bush will always say, “Everyone wants to move to Texas, because I recognize it as the Promise Land”. True enough, Texas has welcomed almost half a million of population in the last five (5) years, the largest population growth in the United States. The US Census stated that the state obtain a total population of twenty-eight (28) million to date. Next year it will surely obtain additional congressional seats. Hence, the booming real estate market, all those people have to reside on some parts. Regardless of our current situation in Covid-19, the real estate industry has stood its ground, especially in the State of Texas.
Five years ago, about sixty-five thousand (65,000) individuals moved to North Texas, from Dallas/Fort Worth, stretching over 10,000 square miles, the biggest inland area in the United States. And the growth is spreading like crazy. Frisco and McKinney were the fastest increasing community in the US, to date. That is why properties of apartments and homes are exploding in previous farm stops like Frisco.
Early settlers in the US driving cattle settled in the area vicinity of the railroad in Frisco, which has seen a drastic increase in population close to 250,000 to date. Priding itself as one of Texas’ Lone Star, being regarded as the most innovative community. Imagine, the city is introducing a driverless car program as one of the tourist attraction where you can view the State of California touring around.
The state of Texas is bowled over mild winters where you can do your picnic in January around the scenic sunshine, trees and huge appealing properties. The state is embraced with entrepreneurial spirit as well. As majestic as it is, summers are hot, but either you take a vacation outside the town or cool your properties with mists and pools.
In the event that you want to consider moving to Texas, we have made twelve (12) things that you need to find out about the State of Texas and its real estate industry:
- Texans are huge on ownership of properties. Nearly half of the population in Dallas own their homes.
- The most expensive property there is in Dallaw is the Crespi Estate with an approximate area of 28 hectares, more or less. With a whopping 36 million dollars, it was sold at auction about five years ago. It was once listed for 135 dollars until it was sold to a banking billionaire, Andy Beal. The Crespi Estate is adjacent to the gated neighbourhood of former President George W. Bush on Daria Drive.
- North Texas has rolling estate properties, and in several communities, you can still use your horses while strolling in downtown.
- The property options are very broad, from a quarter to a full acre single and multifamily homes build in the early 50s to townhomes and high rise buildings in the “Metroplex” which is as huge as Connecticut and Rhode Islands, combined. Fort Worth has classy sophisticated mansions constructed on oil fortunes. People are also restoring 1920s bungalow. Price are to be seen lower as compared to Dallas.
We go up north to the rapid-growing Allen-Frisco-Mckinney community, were the leading Toyota USA relocated its North American Headquarters, and you can witness swaths of newly constructed contemporary properties, much of it cookie cutter, but some is uniquely stylish in subdivisions. These eegant vintage properties are all within walking distance to boutiques and malls.
- You have to be reminded that North Texas has good topography. It is not just flat as those you will see in Dallas. Texas Hill Country begins in the Southern Dallas community of Oak Cliff, just downtown of Southern Dallas. You want a home like this?
- The State of Texas is rocking the Urban Picture. Oak Cliff is home to one of the most organic development stories in Texas, Bishop Arts in Oak Cliff. This warehouse district is haven to Texas Theater where Lee Harvey Oswald was hiding out. This community is related to Bonnie and Klyde. Bishop Arts is now an artistic hipster community with farm-to-table restaurants. Shops and theaters are prevalent as well with the live bands and music everywhere.
- Dllas is where you can witness some of the biggest lakes in the United States like White Rock Lake. Mt. Vernon, the property constructed by H.L. Hunt, was regarded as the very first swimming pool to be constructed in Texas, with the lake overlooking.
- North Texas is branded for great outdoors. The Dallas Trail way is laid for a total of 153 miles of wide urban bike and hike paths all around the city, some on corridors which are abandoned. Plans are on the table for these trails to be linked with each other. One of the most famous trails is Katy Trails paving a 3.5-mile path and is considered to be a main part of the Uptown’s dense living success story.
- High Rise living is also welcome in Texas. In the 80’s and 90’s high rise property were only confined in communities like Turtle Creek Boulevard, with captivating views of the City of Dallas. After that, earnest building started in Downtown as well as the newly-created Arts District.
At this point, the focus is on Hall Arts Residences, Dallas’ contemporary 28-storey high rise building that is elegant and luxurious in brand. This is scheduled to be completed this year. To date, it is said to be the pioneer residential development registered for WELL Multifamily Certification in Texas.
- On the other hand, the city of Dallas has an array of mid-century modern homes collection. California may have its share of mid-century properties, but Texas has Ju-Nel, named for the daughters of the builders who constructed them in the earl 50’s, Jack Wilson and Lyle Rowley. The Ju-nel home is famous for its jack and jill bathroom, enormous glass windows, a contemporary open floor plan and intricate wood accents.
- The magnificent entrepreneurial Texas vibe is mirrored in Texas Real estate agents like
- . It is also reflected in developers like Mehrdad Moayedi, one of the biggest developers in the state of Texas. He is not only cleaning dirt in the whole of Texas, he just purchased and reinvented the historic Statler Hilton Hotel located in downtown Dallas. He is also responsible for giving back to life the Cabana Hotel, which is another 50’s icon.
Meanwhile, these immigrant brothers from Cypress, Aaron and Zach set foot in Plano in the early 90’s and began to remodel properties. Their company, Megatel is considered to be one of the top ten (10) developers in the state of Texas.
Also, the City of Dallas is home to two of the premier developers to have rocked the elegant Urban Land Institute; these are Jake Wagner and Tony Ruggeri. Both are in their primes and earning billions of dollars on a regular basis, with projects across seven (7) states. These award winning duo has made a lot of reinvention with properties in Texas. Of course, who will forget Ross and Ross Perot, Jr., who once ran for a seat in the presidency. Their development firm, Hillwood Communities is also making its name at this point.
Finally, the rookie Edwin Tatum, the former professional basketball player has an entirely new eye for developing modern homes in untapped portions in Texas. This is also a dude to watch in the next coming years.
- With the sudden growth in population, Texas homes are somehow affordable and the price is just right, but in the coming years, it will get pricier. The average purchase price in the state of Texas is around 300-400 thousand dollars in 2018. However, the market may be getting its height. Some are forecasting a stagnant or zero growth in North Texas this year, though the uber high end properties are still making it big in the State. Texas has no state income tax, but its property taxes are regarded as one of the highest in the United States.
Before you can basically deduct the entire property tax bill but at this point, it is not permitted anymore, as they have only deductive ceiling amount.
But nevertheless, realtors can help you out with this jargon. They will find great values and they will help you hunt for them, for your dream property in Texas.