All Eyes on Texas as Home Prices Set Records, Luxury Market Rises

This Tuscan estate at 10620 Strait Lane sits on four acres that include a grand entry motor court, guest house with its own entrance, koi ponds and stream and large swimming pool area with fountains and large loggias along the entire back of the home. Listed for $19,999,000. Photos / Briggs Freeman Sotheby’s International Realty

With median home prices continuing to gain over peak prices each month and luxury home prices increasing by double digits year over year, Texas – and, specifically, Dallas – have become the shining stars of the U.S. real estate market.

Dallas-Fort Worth has one of the most robust housing markets in the nation, with listing prices up more than 8 percent year over year and average home sales prices up about 8 percent year over year. The pace of the market has led to a low inventory of homes for sale, creating an environment for multiple offers in most transactions and the highest level of new home starts in seven years.
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Robbie’s Real Estate Trends: Give Your Brain a Vacation

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Maybe you remember Erich Brenn, a man best known for furiously spinning dinner plates on long poles while performing on “The Ed Sullivan Show.” His whirling dervish of a show biz act symbolizes the extreme amount of “multitasking” many business people have grown accustomed to. Each plate represents another project, deadline or critical assignment that twirls and twizzles around the possibility that all will come crashing down in pieces.

The solution: Sometimes we simply need a break. As a student of successful people, I am always fascinated by what makes them tick. Studies suggest that time away from base may be among the best things you can do for your business … even for those incredibly successful icons of industry. They also need a break.
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Elevating the Business of Real Estate

Built in 1925 and updated and expanded for modern living, the four-bedroom Tudor home at 3620 Princeton Avenue features incredible drive-up appeal and is blocks from Armstrong Elementary. Listed for $2,699,000. Photo / Briggs Freeman Sotheby’s International Realty

In the business of real estate, one North Texas firm continually ranks at the top of the industry with talented and experienced agents, cutting-edge marketing, global reach and a 52-year history of developing outstanding relationships with clients seeking professionalism, integrity and expert guidance in their real estate transactions. Briggs Freeman Sotheby’s International Realty, with six offices throughout the Metroplex, is the area’s luxury leader. 

“More than 50 percent of our agents produce over $5 million per year, making our per agent production the highest in the area,” said Gene Taylor, executive vice president and director of sales and agent development. “It gives our clients a huge pool of luxury real estate experts to choose from. We’re privileged to have this team.”

Already in 2014, more than 30 agents have joined the boutique real estate company. “When considering how to take your business to the highest level, it’s important to join a team with a proven track record and a clear vision for future growth and development,” said Taylor. “Your business plan should be built around talented people and great opportunities.”

Click here to see the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with six offices in Dallas, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.

Dallas’ Boutique Luxury Real Estate Leader Launches Leasing Division

Photo / Briggs Freeman Sotheby’s International Realty

Briggs Freeman Sotheby’s International Realty has launched a new luxury leasing division, bringing on Arthur Greenstein and his Uptown Locators company to expand the boutique luxury real estate firm’s services.

The new luxury leasing division allows Briggs Freeman Sotheby’s International Realty to guide clients through real estate decisions that span every stage of life – from leasing to luxury homebuying to second home searches and investment opportunities.
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“This new division will be vital as we continue to grow our relocation services,” said Robbie Briggs, President and CEO of Briggs Freeman Sotheby’s International Realty. “It will also help our agents find homes for clients who have sold their current home but want to take some time finding or building another one, a common situation in today’s market.”

Operating under the BFSIR umbrella will allow Greenstein and his 15 leasing agents to list his clients’ lease properties in the Multiple Listing Service. That will give Realtors more options for sellers seeking transitional housing and providing lease owners vastly increased exposure for their properties.

“It’s a much higher level of service than ever offered in the Dallas market,” said Greenstein, who joins the boutique luxury real estate firm as Director of Leasing. “Right now, 42 percent of U.S. households lease their homes. This new arrangement means Briggs Freeman Sotheby’s International Realty can work with a much greater range of new clients and seamlessly offer luxury leasing options to current clients.”

The new Leasing Division is part of BFSIR’s Uptown/Downtown Information Center, 2500 Cedar Springs Road, right in the heart of Dallas’ most vibrant luxury leasing neighborhoods.

Unlike with other apartment location services, Greenstein’s team are licensed Realtors so they understand and can advise on real estate transactions from every aspect. Agents also provide tours of properties – instead of simply sending out lists of options, which is common.

“I have long wanted to expand our leasing services, but we needed to find the right team,” Briggs said. “Arthur’s business model ties in well with our operations and will help us offer the level of service our clients deserve.”

For more luxury homes, see briggsfreeman.com. Click here to see the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with six offices in Dallas, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.

Robbie’s Real Estate Trends: Extending the Professional Olive Branch

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As seen in the Wall Street Journal’s Mansion section:

The word “competition” comes from the Latin root competere, which means “to meet, to come together.” An interesting twist, since today when we think of competition we’re more concerned with setting ourselves apart than coming together.

Recently I had the opportunity to “come together” with a person I had always considered a savvy competitor. After expanding into a new geographical area, I extended the proverbial olive branch and invited a business rival to lunch. I’m happy to say that awkwardness quickly dissolved into what became a delightful conversation.
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The Robbie Report: The Dallas Real Estate SWOT Analysis Part 1

 

Video / Briggs Freeman Sotheby’s International Realty

Most of us in the business world routinely work with something called a SWOT analysis, which examines the Strengths, Weaknesses, Opportunities and Threats facing a business.

 

Recently we developed a SWOT Analysis of the Dallas Real Estate Market in 2014. First some strengths:

DFW has a competitive cost of living and strong diverse business climate

Noted as one of the best quality of life areas to live

DFW continues to attract population (4th most populated metro area in the U.S.) and investment (6thlargest economy in the U.S.) with excellent distribution infrastructure, a high concentration of technology headquarters and above average population gains

DFW economic growth is strong with a GDP of $380 billion

Great neighborhoods with affordable housing

Financially sound municipalities

Vibrant downtown with, housing retail, arts and green space

Strong regional economic development offices

DFW is a Top 5 metropolitan city in job growth with an estimated 3.5 percent increase in 2013

Dallas is one of the few metro areas in the country where home prices have risen above their pre-crisis peaks (by 5 percent)

And also, some weaknesses:

Higher construction and labor costs increase prices of new homes

Low inventory for new construction

Many do not understand the sophistication of the region

Fast-paced market requires quick action and expertise in developing successful contracts

I welcome your comments and questions.

robbie briggs photo

Robbie Briggs

President and CEO

Briggs Freeman Sotheby’s International Realty

1.847.780.6499

[email protected]

For more beautiful homes, see briggsfreeman.comClick here to see the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with five offices in Dallas, Uptown, Ranch and Land, The Ballpark and Southlake.

The Robbie Report: Dallas Neighborhood Update

This expanded Tudor at 4405 Southern Avenue in Highland Park is within walking distance to Bradfield andHighland Park Village. Photo / Briggs Freeman Sotheby’s International Realty

Real estate today needs smart, careful analysis. It’s a complex business that demands a high level of experience and knowledge about the areas being considered.

Our agents are experts in some of the most desirable sections of Dallas, particularly when it comes toHighland Park, University Park and Preston Hollow. They stay up-to-date on the latest market changes and are able to provide information and insight into very specific trends impacting each neighborhood.

 

The news is good in these areas that are highly sought-after thanks to recognized schools, distinct architecture, beautiful green space, and more.

Last year in Highland Park, the average number of days a home was on the market decreased from 93 down to 62, and the average price increased from $1 million to $1.5 million.

During the same time, estates in Preston Hollow sold in just 94 days and average price increased from $590,000 to $672,000.

And in University Park, days on market dropped from 84 to 52, while average price rose from $835,000 to almost $1.2 million.

The numbers say one thing: these areas are the places to be. And our staff knows them better than anyone.

I welcome your comments and questions.

Robbie Briggs

President and CEO | Briggs Freeman Sotheby’s International Realty | 1.847.780.6499

[email protected]

For more beautiful homes, see briggsfreeman.comClick here to see the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with five offices in Dallas, Uptown, Ranch and Land, The Ballpark and Southlake.

The Robbie Report: How to Get the Best Price for Your Home in This Real Estate Market

 

3617 Euclid Avenue - Briggs Freeman Sotheby's luxury home for sale in Dallas Fort Worth-sitting

On a prime location in Old Highland Park, the home at 3617 Euclid Avenue features five bedrooms and a beautifully landscaped back yard. Listed for $4,299,000. Photo / Briggs Freeman Sotheby’s International Realty

With an improving housing market in many neighborhoods these days, it is tempting to try to sell one’s house without a professional Realtor’s expertise.

It seems simple – homeowners pay to list the house on websites, put a sign in their yard and get ready to show a lot of strangers their house. With so much demand today, surely the house would sell quickly.

Too often, the house is sold quickly, but for thousands of dollars less than it might have if a professionalRealtor, knowing the neighborhood well, had priced the house correctly.

Or maybe worse, the house does not sell because it is priced too high. Without expert advice, the house could also show poorly.

According to Christy Berry, a top-producing Realtor with Briggs Freeman Sotheby’s International Realty, if there is no offer after a house has been seen by 15 prospects, “there is something wrong.” She adds, “Today’s buyers are smart. They know when a house is priced too high or too low.”

An agent’s most important job is to expertly guide a seller in what is, most often, their biggest financial transaction. They know the market, the comparables and the trends and are committed to advising sellers how to get top dollar for their primary investment.

In the emotional business of buying or selling a home, a professional Realtor also acts as a buffer between the buyer and seller.

The Realtor’s job is to help take the stress out of the transaction. The professional, who buys and sells houses every day, handles the showings, answers questions, deals with appraisers, title companies and mortgage companies and provides their experience to make the sale go smoothly.

Robbie Briggs, President and CEO | 1.847.780.6499 | [email protected]

Briggs Freeman Sotheby’s International Realty, serving the Metroplex from our office at 5600 Lovers Lane, Suite 224, Dallas, Texas  75209. For more beautiful homes, see briggsfreeman.com. Also seeupdatethemetroplex.com for the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty.