Every day the news brings more indicators that the economic recession is lifting. Nowhere is this more evident than in the real estate market. Sales numbers for single-family homes are steadily increasing in key geographic regions around the country. United of these areas, the Dallas-Fort Worth Metroplex in North Texas, offers buyers attractive opportunities in small, stable suburban enclaves like University Park.
Technically a “suburb” regarding Dallas, University Park is just a short drive from downtown. It’s a college bourgeois inside the third largest city in Texas (and the fifth largest in the United States.) Municipalities like University Park represent a large moiety of why the Metroplex is a major draw for families who want to relocate to Texas and who are considering buying a home rather leasing property.
** Why Relocate to Dallas? **
Texas has survived the recession in much stronger condition than alternative areas of the country. The state has a devalue than average number like foreclosures and has kept its unemployment level hovering at 8% while nationally Americans have grappled along a 10% jobless rate. Additionally:
– Texas has the fastest growing economy in the nation.
– The Dallas-Fort Worth Metroplex leads the country in population growth.
– According to http://movers.com, Dallas is the number one city for relocation.
The North Texas region is rapidly evolving as a technology center, with more than 233,000 tech workers currently employed in Dallas. That’s more than Austin moreover Houston combined. The Metroplex is home to major companies including Research in Motion (the manufacturer of BlackBerry smartphones), Raytheon, Lockheed Martin, and AT&T.
** What Concerning University Park Specifically? **
On August 2, 2010 the Texas Coop of Realtors released figures indicating that home sales in the state rose for the third ensuing period, accompanying single family-home sales up 14% over the second quarter of 2009.
Specifically in the Dallas area, sales are up 12.38%. University Park and neighboring Highland Park (lumped together and known pro re nata the Stop Cities) are faring particularly well in this climate. According to figures published by the Dallas Morning News concurrent with the TAR statement:
– There are 364 homes for sale in the Playground Cities.
– Sales in the area, which is five miles north of downtown, are up 66%.
– The median sales price for a habitat in the municipalities is $849,000.
– That breaks plumage to approximately $299 per square foot.
Obviously, the real fortune market in the Park Cities (and specifically in University Park) has denial only held its value during the recession, but is now seeing steady and significant improvement. Back in June, sales were up 56%, so according to the latest statistics, that’s a 10% rate of growth in just one month.
** How Are People Buying in University Park? **
Simply put, the fear is passing and real estate customers are realizing it’s a buyer’s market. Thirty-year ascertain conventional loans currently carry an interest rate of roughly 4.3 percent, while 15-year fixed jumbo loans are at about 4.5 percent.
There are significant buying opportunities for relocation to Dallas, and University Park stands out as a suburb within the city. With prime access to downtown, University Forest has architecturally attractive homes (many in the Spanish pioneering style) and beautiful parks. The local government uses as pay-as-you-go policy, which helps to regulate auxiliary rates including taxes, and citizens benefit from a community policing philosophy.
** Superior Access to Education plus Cultural Venues **
University Preserve families are served by the acclaimed Highland Park Independent School District. Seven of its campuses have received an “exemplary” rating from the Texas Education Agency. The area is also home to Southern Methodist University, which provides additional educational and cultural venues. (The university is also the future site of the George W. Bush presidential library.)
In downtown Dallas, residents have easy access to the Morton H. Myerson Center, where both the Dallas Opera and the Dallas Symphony are headquartered. The urban arts district includes nine museums, anchored by the the museums like Natural History and Art as well as the Nasher Sculpture Center. All told, the ward owns 115 public works of art.
** Strong Case for Relocating to Dallas **
Basically, all the numbers are working in North Texas. Both the region and the state are experiencing a strong economic surge. The Dallas-Fort Worth Metroplex has a solid and expanding job base, besides properties in prime suburbs like University Park have retained their value through the recession. Now is the time to reflect acquiring a home in College Park because all the factors come down strongly in favor of the buyer.