Develop a DESIRE to achieve the goal

 

 

  1. Develop a DESIRE to achieve the goal. The desire must be intense. How do you intensify desire? Sit down and write out all the benefits and advantages of achieving your goal. Once the list goes between 50 and 100 your goal becomes unstoppable.
  2. WRITE your goal down. Once it goes into writing it becomes substantial and starts etching itself into your subconscious.
  3. DEADLINE your goal. Analyze where you are now in relation to the goal and then measure how long you will reasonably need to complete the goal. Then set the latest outside date.
  4. IDENTIFY 1) the obstacles you will need to overcome, 2) the help you will need to acquire, e.g. knowledge, people, organizations. In each case write them out in a clear list and analyze them.
  5. Take all the details of steps 3 and 4 and make a PLAN. List all the activities and prioritize them. Rewrite the list, optimize it, perfect it.
  6. Get a clear MENTAL PICTURE of the goal already accomplished. Make the mental image crystal clear, vivid in the mind’s eye. Play that picture over and over in your mind.
  7. Back your plan with PERSISTENCE and resolve. Never, never, never give up even when you hit setbacks.

 

Follow those steps religiously and you will be a high achiever.

DANGER – You can read this and think, “That sounds interesting. I must try that sometime”.

 

Intense Desire – Rocket Fuel For Your Goals!
Goal Setting Step 1

Have you set personal or business goals and failed to achieve them?

Here is a crucial question: WHY?

The answer is simple:

Because we did not have a strong enough desire.

Some may argue with that. “But I did have a strong desire and still I didn’t get there.”

Sorry, but the desire was still not strong enough.

This article is about INTENSE desire. In other words, a PASSION.

Rocket fuel is powerful. The energy it releases boggles the mind.

Intense desire can do the same for human achievement.

Are you working on a goal right now?

Is it faltering or not progressing as fast as you would like?

Analyze the intensity of your desire.

How do you identify intense desire, passion?

It’s what keeps people working all hours, up early, late to bed.

It’s what fueled Stephen Spielberg from the age of 13 to be a movie director.

It’s what powered Whoopi Goldberg from childhood out of impossible circumstances to be a very successful actress.

The desire dominates conversation, thinking, actions.

How do you intensify desire? This article will show how.

Question: Where do desires start? How do they form?

Unlike animals with their internal programming we call instinct, the human mind has the colossal potential for reasoning, coming to conclusions, thinking things through.

So desires start in the mind.

Research has shown that impulses are transmitted through electro chemical processes across the synapses, tiny spaces less than one millionth of an inch across, which separate the brain cells or neurons.

Patterns and tracks are formed in our thinking processes. Think the same thought regularly and it becomes a habit forming a deep track like a well-used path across a field.

On the other hand, an occasional thought may pass through the mind and be forgotten just like a path seldom used which becomes overgrown.

Now apply this information to desires

A desire may come into the mind and soon be forgotten in the everyday hum drum of life.

But keep thinking about it, keep your mind focused on it and what happens?

The desire becomes strong, very strong. Then?

Action follows right after.

So back to our original question – how to intensify desire?

Take as an illustration a work of art. After many years the picture suffers from pollution and discoloration. It may only be a shadow of its original glory.

But after it has gone through a meticulous restoration process what happens?

The picture breathes life and vibrancy again. Why?

Because now you see the detail. There are moods, objects, expressions in that picture you never saw or felt before.

Detail makes the difference.

How then can we intensify desire?

By listing details, particularly benefits!

Once the list gets past 20 or 30 benefits your goal becomes unstoppable.

Why not do this exercise today with one of your goals.

Have you set a goal for your business to make $X this month?

Making money for the sake of it after a while becomes mundane. There has to be something more.

Make a list of all the benefits from using that money.

What difference will it make to your family, your lifestyle, your enjoyment of life, your business growth?

What if one of your goals is to develop a skill or awaken a dormant talent or ability?

Write down a huge list of the benefits this will bring you and your loved ones, or your business.

The more you write, the more details your mind conjures up, the greater the intensity of desire becomes.

This is the first step of goal achievement and the foundation.

With intense desire fueling your goals you have every chance of rocketing to success!

 

Goal Setting Step 2

The smiling face of someone close to you.

The classroom on your first day at school.

The first automobile you owned.

That beautiful sunset on your last vacation.

These sentences immediately bring pictures to your mind.

The brain often thinks in pictures.

The human eye captures an incredible amount of information with just one glance and relays it all to the brain which then translates that information into a form we ‘see’.

It would be more accurate to say we see with our brains than with our eyes.

But here is a point that gets more exciting the more you think about it.

The brain does not need to receive information through the eyes to see every time.

It can recall from memory sights, sounds and feelings and put the whole sequence together and run it like a movie all inside our head.

Where is all this leading us?

If we could construct our own movie casting ourselves in the starring role acting out the scene as if we have achieved our goal and play it over and over in our minds what would be the result?

Answer:

SENSATIONAL!

A movie is made by a lot of people but a key figure is the director.

His job is to visualize the script and guide the production crew and actors.

So be your own director.

Visualize yourself enjoying the benefits of having reached your goal.

This may sound a little ‘off the wall’ but many find this technique works!

In your mind create your own movie theater.

Imagine it now. Imagine the walls, the seats, the stage, the screen. Put yourself in the front row. Sit back, press a button and start the movie.

See yourself up there in vivid color enjoying whatever it is you were seeking.

Rewind. Play it again!

Every time you want to feel a surge of motivation, in your mind, slip into your own movie theater and just play it again.

This mental imaging merely cooperates with the way our brain works.

And what goes on in our minds has a direct bearing on our actions and results we produce in our lives.

So go ahead!

Visualize your goal, create the mental picture and put an MGM studio in your head!

 

 

 

The Remaining 90% – Sheer Persistence
Goal Setting Step 3

In 1915 Ty Cobb set up an amazing baseball record of stealing 96 bases.

Seven years later Max Carey set the second-best record with 51 stolen bases.

Was Cobb twice as good as Carey?

Consider this: Cobb made 134 attempts. Carey made 53.

So Carey’s average was much better.

Cobb however made 81 more tries and was rewarded with 44 more stolen bases.

When you get behind the big success stories in any given field, you often find the most successful have made more attempts and spent longer hours at the given task than anyone else.

In other words, they give the law of averages a chance to work in their favor! They just keep on striking out, often against all odds.

In goal achievement this sterling quality of persistence and its bed-fellow perseverance, is absolutely essential.

You must just keep at it day in day out. Then you are GUARANTEED results – eventually! To maintain this kind of momentum you have to develop mental toughness.

To be mentally tough means you minimize the effects of discouragement and you turn negatives into positives.

Whenever a negative thought comes into your mind or when others make negative comments, say to yourself, “Delete that Program” and replace it with a positive thought.
For example, when you catch yourself thinking, “This is just not working, this is useless and a waste of time”, trigger mental toughness by saying “DELETE THAT PROGRAMME”.

Instead think: “What do I need to do to make this work!”

Admittedly, negative mental habits are hard to break.

It takes time and persistence but oh my, the rewards when you do!

Do we understand then why the title of this final session is:

“The Remaining 90% – Sheer Persistence”?

It really does come down to that.

Just keep on going, persist, persist, persist, and let the good old law of averages work for you.

Have you clearly set in your mind what you want to accomplish in the next six months, next year, next 3 years? People who don’t can’t expect to get anywhere fast.

Get yourself organized, focused, passionately driven toward your goals today.

 

5 Elements of a Useful Goal

 

  • SPECIFIC: Describes what you want to accomplish with as much detail as possible.

 

  • MEASURABLE: Describes your goal in terms that can clearly be evaluated.

 

  • CHALLENGING: Takes energy and discipline to accomplish.

 

  • REALISTIC: A goal you know you are actually capable of obtaining.

 

  • STATED COMPLETION DATE: Goals that break longer term goals into shorter pieces and clearly specify target completion dates

 

3 Mindset Principles for Success in Real Estate

3 Mindset Principles for Success in Real Estate

Brandon Doyle

Brandon Doyle

By Brandon Doyle

The professional philosophies you live by are key to making or breaking your real estate business. That’s why it’s so important to develop a productive, powerful mindset—a collection of principles that can lead you to become a confident, capable, and top producing real estate agent.

Here are three principles to remember when it comes to employing mind over matter in the real estate world.

1.Respect Your Real Estate Business Enough to Run It Like a CEO

Just because you are self-employed, doesn’t mean that the pressure is off when it comes to the technical details of managing a real estate business. No CEO worth his or her salt would neglect meaningful tools like a business and marketing plan, spreadsheets to track cash flow and expenses, quarterly profit-and-loss statements, and a thorough plan of attack each fiscal year. These measures may seem daunting at first—and certainly require a disciplined mental shift to tackle—but harnessing their power sets you on the path towards growth and success as a real estate agent.

@FlashBuddy; 2014. Morguefile.

@FlashBuddy; 2014. Morguefile.

2. The Horizon Mindset: The Value of Seeing the Big Picture

When I first taught my daughter how to drive, she clung to the steering wheel and never allowed her eyes to look beyond the few feet of road ahead of her. Unprepared as new objects entered her field of vision, she would overreact and overcompensate, yanking the wheel in fear. To counter that, I advised her to keep her vision trained on the horizon, so that she could see any potential changes long before they arrived. The same philosophy applies to your real estate business. If you commit yourself to the long game—planning and envisioning the larger picture of your business—then day-to-day obstacles and anxieties are far less likely to throw you for a loop and derail your progress.

3. Be Specific in Your Goals and Vision

There’s little value in envisioning the big picture of your real estate business if the big picture is only a vague, abstract idea of the success you wish to achieve. In order to plan for and work toward a goal, you need to understand exactly what you’re aiming for. Embrace the principle of goal-setting, and make those goals precise—like a specific gross commission income goal, for instance. Once you have established a clear aim for yourself and your business, you can then surmise exactly what you need to do on a daily basis to inch toward that objective. In other words, the work doesn’t stop once you’ve specifically outlined your ambition; you must then do the detail work required to achieve it.

There’s no easy route to becoming a top producing real estate agent or business owner. However, fostering the mindsets illustrated above can provide the framework and discipline needed to succeed. Remember that professional philosophies are valuable, formidable resources that are ready to be used to your advantage as you lead your real estate business to the next level.

Original article: http://ypnlounge.blogs.realtor.org/2016/08/22/3-mindset-principles-for-success-in-real-estate/

Texas draws foreign buyers

State ranks third in sales to customers from other nations

Picture

Texas is a top market for foreign homebuyers, with most of the purchasers coming from Mexico, India and China, according to a new study.

The state ranks third in the country for purchases by international buyers, behind Florida and California, the report by the National Association of Realtors shows.

Chinese and Canadian buyers still account for the largest share of U.S. home acquisitions by foreign purchasers, with almost 215,000 bought in the 12-month period ending in March.

Foreign buyers acquired more than $102 billion worth of U.S. homes between April 2015 and March, according to the Realtors. That’s a slight decline from the previous year.

“Foreigners — especially those from China — continue to see the U.S. as a solid investment opportunity and an attractive place to visit and live,” Realtors economist Lawrence Yun said in the report. “Both the increase in U.S. home prices — up 6 percent in March 2016 compared to one year ago — and the depreciating value of foreign currencies against the U.S. dollar made buying property a lot pricier last year.”

About half of the home purchases by foreigners were all-cash deals. Their median purchase price was $277,380.

Chinese buyers snapped up $27.3 billion in houses, and Canadian purchases totaled $8.9 billion. Buyers from India spent $6.1 billion on homes in this country, and purchases from Mexico totaled $4.8 billion.

About 10 percent of the total foreign home purchases were in Texas.

Houston and Dallas were the top areas to attract international homebuyers in the state, the Realtors report shows.

In the Dallas area, most of the foreign purchasers were from Mexico, Canada, Germany, Australia and the United Kingdom.

Twitter: @SteveBrownDMN

June is National Homeownership Month!

June is National Homeownership Month! | Keeping Current Matters

Some Highlights:

  • Paying rent is not a good investment, but owning is a great way to start building family wealth.
  • Not only does homeownership allow you to provide your children with great education, but you can also decide whether or not your child grows up with a pet.
  • Owning a home provides you with tax benefits while also providing you with more living space to move around in.

 

Original article: http://www.keepingcurrentmatters.com/2016/06/03/june-is-national-homeownership-month-2/

The 5 Levels of Property Management Expertise

stages-property-management

By Drew Sygit

After several years of watching our competition, learning from them, and growing with them, we’ve come to the conclusion that there are definite stages that property managers evolve through as they perfect their skills. It’s not a terribly useful insight, unless you’re an investment property owner who is wondering if the property manager you’ve hired is as good as he claims to be. (Because frankly, we all claim to be great — the market pretty much demands it.)

So here’s what we’ve learned about the stages of property manager development.

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First Stage: Business-Focused

The brand new property manager is going to spend most of his time and energy thinking about and working on their property management business, simply because the business is the foundation of everything else that happens. At the beginning, none of us are familiar enough with the basic processes to be able to take shortcuts that more experienced PMs use automatically.

They’re still working out how to negotiate with contractors, figuring out which vendors to pursue relationships with, and working on the cost-benefit analysis of hiring advertisers, inspectors, real estate agents, and so on. Some PMs skip this step by working for other, more experienced PMs for a few years before they go off on their own.

project-management

Second Stage: Property-Focused

After they’ve got the basics of their business down, a property manager begins naturally to focus on the properties their clients are presenting them with. The questions change — for example, from “how do I get this building renovated?” to “how do I get this building renovated so that it will be attractive and last a long time?”

Related: Why I Fired Property Management — And Began to Manage My Own Investments

Property managers at this stage will learn what attributes of a building are deal-breakers (i.e. if the property is worth 30 percent more than any other building in the neighborhood, you’re never going to be able to fill the vacancy). This may lead to them also narrowing the type(s) of properties they’ll manage and getting rid of properties that don’t fit their focus. PMs at this stage do well as long as they don’t get a problem tenant, but if they do, things can fall apart fast.

Third Stage: Tenant-Focused

Once they’re confident in dealing with all of the aspects of the property itself, focusing on tenants is the natural next development simply because tenants are the source of 80 percent or more of the problems property managers face. A property manager at this stage is learning why it’s critically important to screen tenants with a special eye toward indications of future problems and why communicating with a tenant is vital not just to resolve problems, but to resolve potential eviction cases that make it to court as well.

A lot of times a PM at this stage will finally figure out they can’t hand-hold problem tenants and it’s better to just get rid of them. This is the first stage at which we would call a PM “ready” to be hired, but there’s still a long way for them to go.

property-management

Fourth Stage: Profit-Focused

Once the property manager is comfortable dealing with most of the situations that crop up with tenants and whatnot, they’ve gotten a grip on basically all of the major problems that PMs need to solve on a regular basis. This frees them up to concentrate not on problem-solving, but on profit margins. (Obviously, every PM has to pay attention to profit margins, but PMs before this stage can often feel like such things aren’t really in their control.)

The PM at this stage will be “purging” his business, seeking new vendors with better profits, outsourcing to advertisers with better rates of return, getting rid of problem owners and generally improving their ROI — but more importantly, they’ll also be improving your ROI at the same time.

Fifth Stage: Client-Focused

In the final stage of property manager development, the PM learns that not all clients are the same — some have goals other than “maximum ROI per month” — and learns how to adapt their systems to accommodate those other goals. If you’re a two-home family, for example, renting out your second home to save up for your child’s college education until you can pass the home along to said child, keeping the home in sterling condition is more important than maximizing your ROI.

Related: Property Manager Checklist: 7 Vital Tasks to Keep Tenants Happy & Paying

If you’re a local credit union with a foreclosure and you’re renting it until the market stabilizes and you can find a buyer who can pay a legitimate sum, your renovations will look different (and be more expensive) than those of a holding company who intends to rent the property for decades until the next real estate bubble swells. There are enough different clients in the world that this stage will take up the rest of the PM’s career — they will be adapting and evolving to their clients’ needs until they retire.

Unfortunately, there’s no real way to tell where a given PM is in their development without working with them for a few months and seeing what kinds of problems cause them to fluster and flail. All you can do is look at where those problems lie within the stages, and if your PM is stuck in the first 1-2 stages, either patiently wait for their learning curve development or start interviewing for a new property manager right away.

Investors: Have you noticed that the property management you’ve worked with is in one of these stages?

 

Original article: https://www.biggerpockets.com/renewsblog/2016/03/23/stages-property-manager-development/

Dallas Real Estate Market is Ideal For Investors According to the Home Buying Institute

(Photo: Daxis via Flickr)

By Joanna England

Three Texas MSAs are ripe for investors, according to a report from the Home Buying Institute. Markets in Austin, Dallas, and San Antonio are attracting investment at a breakneck pace, putting them in the top 10 best markets to invest in a home out of 100 MSAs. After an analysis by Forbes and Local Market Monitor, these three cities were named “Best Buy” housing markets. San Antonio beat the Dallas real estate market, with Austin following. the cities ranked third, sixth, and seventh, respectively.

Additionally, the Home Buying Institute named Dallas one of the hottest markets in 2016, and considering the pace at which sales are clipping along — especially cash sales from investors — we have to agree. The market is huge for builders and teardowns, which seem to happen every day in the Park Cities and East Dallas neighborhoods such as Lakewood and Forest Hills.

Jump to see what other cities landed on the Top 10 Best Buy Markets for Investors:

 

To find out which cities were poised to give investors a solid return, Local Market Monitor analyzed the 100 largest metropolitan statistical areas in the U.S. (all with populations of 600,000 or higher). They then identified housing markets with favorable conditions for investors and “regular” home buyers alike. These markets all have healthy job growth, population growth, and anticipated home price appreciation.

Top 10 “best buy” housing markets for investors, with average home price:

  1. Grand Rapids, MI – $154,348
  2. Orlando, FL – $202,809
  3. San Antonio, TX – $200,522
  4. Charlotte, NC – $220,758
  5. Salt Lake City, UT – $258,371
  6. Dallas, TX – $211,245
  7. Austin, TX – $281,355
  8. Fort Lauderdale, FL – $258,577
  9. Seattle, WA – $370,306
  10. Cape Coral, FL – $211,531

 

According to Zillow, home prices in Austin and Dallas rose by double digits last year. Additional, but more modest, gains are expected in 2016. This is partly due to the supply-and-demand imbalance mentioned earlier. In short, there aren’t enough homes for sale in these real estate markets to satisfy demand.

Local Market Monitor expects prices in these housing markets to continue climbing over the next few years. Their three-year home price growth projections for Austin, Dallas and San Antonio are all above 25%. The authors explained that “there continues to be a shortage of housing supply, meaning prices are likely to keep on rising.”

 

Original article: http://candysdirt.com/2016/02/19/dallas-real-estate-market-investors/

 

How Texas real estate broke records last year

Last year was huge for Texas real estate. In fact, statewide home sales and prices reached all-time highs in 2015, according to the latest Texas Quarterly Housing Report released today by the Texas Association of REALTORS®. More than 309,000 Texas homes were sold in 2015, which is the first time in history that annual home sales have exceeded 300,000. And the median annual price for Texas homes was the highest ever at $195,000. “Texas has enjoyed four straight years of booming real estate growth and record-high housing demand,” said Texas Association of REALTORS® Chairman Leslie Rouda Smith. Check out this infographic with statewide data, and download the full report to see data for 25 markets across Texas.

Original article: https://www.texasrealestate.com/advice-for-texas-realtors/article/how-texas-real-estate-broke-records-last-year

First-Time Home Buyers: The New Elite?

By Bob Sullivan

Is buying a first home becoming more a privilege than an American birthright? That’s the provocative question posed recently by Issi Romem, chief economist ofBuildZoom.com. And he answers it, cautiously, with data suggesting it’s true.

Romem’s most concerning assertion: Young buyers have nearly 10% higher incomes than they did less than a decade ago. The average household income for first-time buyers — as opposed to homebuyers who are trading up — is nearly $85,000, up from about $78,000 from 2004-2007. First-time homebuyers now come from higher up the income distribution than they used to, clocking in near the 60th percentile.

“The ability to transition into homeownership is gradually becoming the privilege of a narrower group of first-time buyers that is more financially select,” Romem says.

Fewer First-Time Buyers Stifles Economic Recovery

That leads to a second problem, one that impacts the entire economy: First-time homebuyers are conspicuously absent from home buying at the moment, which is stifling the economic recovery. In 2005, the U.S. hit an all-time high of 3.2 million first-time homebuyers, Romem says, but they buy fewer than 2 million homes annually today. That accounts for fewer than half of the nearly 4.65 million homes sold in the U.S. in 2015, according to figures from the National Association of Realtors.

First-time buyers are critical for the economy because their purchases set in motion sales for others who are trading up – usually, families looking to expand need to sell their “starter” homes first.

“A shortage of first-time buyers will cause the equivalent of famine in the housing market: a slowdown in home sales and presumably also in prices,” Romem wrote in a recent post titled “The Rising Income of First-Time Home Buyers.

Nationally, sales to first-time homebuyers are 16.5% below the historical norm, Romem says, but in some parts of the country, the dropoff is even more dramatic. In the West region, sales fall below the norm by 23.9%; in the South, by 22.6%. That compares with the Northeast, where sales to first-time buyers actually exceeded the historical norm by 3.6%.

There are two ways to look at the news. Tougher lending standards, such as larger down paymentrequirements, clearly have something to do with a dropoff in young buyers. That might help prevent a repeat of the housing bubble and collapse, said Logan Mohtashami, senior loan manager at AMC Lending Group.

The Upside: Today’s Homebuyers Are Qualified

“To be able to buy a home now more than ever…means you’re doing well in this economy. This cycle of homebuyers is the best I have ever seen in my 20 years,” Mohtashami said. Exotic interest-only or low-down-payment loans helped some buyers get into their first homes a decade ago, and that didn’t work out well for many of them. “I always wondered how much of the previous data was jaded because a lot of first-time homebuyers bought homes without the right income needed.”

On the other hand, the housing market is being buoyed by all-cash buyers – some investors, some foreign buyers – while young adults are renting in an expensive rental market or being forced to live with parents into their 30s. Ramem worries about the social issues that might create.

“The notion that homeownership is slipping out of reach for a growing share of the population is an uncomfortable one, especially if the trend continues,” he said. “Do we really want homeownership to become a privilege rather than a choice?”

Income is just one factor that affects your ability to qualify for a mortgage (and how much house you can afford). Your credit score is also a major factor. You can check your credit scores for free on Credit.com to see where you stand.

 

Original article: http://blog.credit.com/2016/01/first-time-homebuyers-the-new-elite-135552/

NTTA board members question options for keeping up with Collin County’s growth

Rush hour traffic exiting at Tennyson Parkway in Plano, Texas, along the Dallas North Tollway on May 20, 2014. (Andy Jacobsohn/The Dallas Morning News)

By Brandon Formby

Rush hour traffic exiting at Tennyson Parkway in Plano, Texas, along the Dallas North Tollway on May 20, 2014. (Andy Jacobsohn/The Dallas Morning News)

An ongoing building boom along Dallas North Tollway in Collin County is prompting toll agency officials to question their preparedness for a crush of new residents and businesses.

At a North Texas Tollway Authority board meeting Wednesday, chair Kenneth Barr asked about the “long-term prognosis” of the northern stretch of the toll road that runs through Plano and Frisco. As the road has reached farther north in recent years, it has spurred billions of dollars worth of developments that are drawing major corporate relocations and high-profile mixed-use projects.

Which is going to mean more traffic.

“We have some obligation to look further into the future at what are our options are,” Barr said Wednesday.

The NTTA chair’s comments came ahead of a vote to add a fourth lane in each direction of the tollroad south of the President George Bush Turnpike. Construction is already underway to add new lanes to the road between the turnpike and the Sam Rayburn Tollway. But all that additional capacity falls south of where new developments are sprouting at break-neck speed.

“We do feel the growth in homes and businesses and working is staying to the north and not the south,” assistant executive director of infrastructure Elizabeth Mow told board members.

Sanjiv Yajnik, chair of the Collin County Business Alliance and a Capital One executive, said that growth is what keeps the local economy and quality of life “vibrant.”

“At the same time, it’s imperative that our road projects adequately meet the growth before it comes,” Yajnik said.

Plano and Collin County officials are currently developing ways to handle the expected traffic increases. The business alliance is also involved in those discussions.

Barr suggested that the toll agency board take a deeper look at the corridor’s rapid development at a future meeting. Unlike the state highway department’s North Texas districts, NTTA doesn’t have to wait for its share of statewide tax revenues to expand roadways. Instead, the toll agency uses a system finance model wherein toll revenues from several roads are pooled together and used to take on debt for new construction projects.

But widening the road may not prevent congestion in the corridor for several reasons. For one, the development is happening on the fringes of or completely outside transit agency boundaries. That means people will have virtually no other option but to drive to access the companies, businesses and homes in the area.

Additional highway capacity is also known to actually increase the number of drivers wanting to take a particular corridor, a phenomenon known as induced demand. NTTA officials touched on that topic Wednesday as they discussed DNT’s widening south of Plano and Frisco.

Board member William Elliott asked Mow how close current traffic levels are to reaching the capacity of DNT where new lanes are being added. Mow said she didn’t have exact figures but that it’s pretty much at capacity already.

“How much time are we buying with these improvements?” Elliott then asked.

Mow said “it’s impossible to tell” but estimated that after new lanes are added, traffic would reach the road’s capacity in five to 10 years.

 

Original article: http://transportationblog.dallasnews.com/2016/01/ntta-board-members-question-options-for-keeping-up-with-collin-countys-growth.html/

Is the Dallas-Fort Worth Housing Market Unstoppable?

Federal regulations, interest rate rise seem to have no impact

With no signs of slowing in sight, the North Texas housing market obliterated sales volume records in 2015. Even experts in the field are astounded by the rapid growth in the size of the market.

“We knew the market was very strong,” said Russell Berry, president of the MetroTex Association of Realtors. “We astounded to see sales volume at nearly $25 billion for the year. That’s an increase of $9 billion in one year. To give that some perspective, in 2011, our total sales volume was $9 billion.”

“We can see no discernable slowdown in sales despite a rise in interest rates,” continued Berry. “Rates are still low and buyers seem to have gotten the message that the small increase doesn’t have much impact on their monthly payments. We fully expect a robust market to continue for the foreseeable future.”

Highlights of the MetroTex market report include:

• Total sales volume for 2015 was $24,927,700,674, an increase of $9,051,887,636 over 2014. This is roughly equivalent to the total size of the market in 2011.

• 8,543 homes were sold in the DFW area in December, a 21% increase over last year.

• The average price per square foot is $114.

• The average sales price in Dallas/Ft Worth in December was $264,804, a 6% increase over last year.

• There are 6,179 homes under contract and waiting to close.

• Houses are selling in an average of 48 days.

• Condos are selling at an average of $155 per square foot in the area.

Inventory continues to remain low in the area. For homes listed for sale between $100,000 – $400,000, there is an average of 1.3 months of existing housing stock on the market. Less than 3 months inventory is considered to be a strong sellers’ market.

MetroTex represents more than 16,000 members involved in all aspects of the real estate industry. MetroTex is the largest REALTOR® member association in North Texas representing the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights.

 

Original article: http://www.mymetrotex.com/news/dallas-fort-worth-housing-market-unstoppable