DALLAS CONTINUES HOT REAL ESTATE TREND
Stats show steady growth in September over August
DALLAS/FT. WORTH, TX – The DFW real estate market continues to show steady growth in the last 30 days. Home values are on the rise and inventory continues to hold at reasonable levels. In addition, September marks the third straight month home values have risen in DFW, marking a return to their highest values since January of 2015. While not surprising given that DFW remains one of the hottest markets for real estate in the country, the trends suggest that the market is also one of the best—boasting reasonable prices, varied inventory and low foreclosures and distressed property buys.
The real estate trends are also good news for property owners and property management in Fort Worth and Dallas. With a steady stream of inventory available at reasonable prices, there is a growing trend for new property managers to jump into real estate investing. Given the relocation of several giant corporate firms to the DFW area, and influx of newcomers, savvy investors are snapping up properties and reaping immediate rewards.
“Owning a rental property or two is a very chic thing to do these days,” says Mike Jeppson, COO of Specialized Property Management in Dallas. “What we find is that most people who are new to the game, however, are not always aware the amount of work that goes in to managing a property. That’s why we always recommend that if you are going to buy a property for rental, you work with a reputable property management company. It will save you time and headaches in the long run.”
Jeppson also cautions that while now is a good time to jump into the market, investors who want to make the leap should do so sooner rather than later. “Rental prices are on the rise. We’re seeing 4-5% increases in price per square foot for rentals and that’s been steady over the last few months. We expect that to continue.”
Plus, as prices go up, the amount of inventory worth those prices will inevitably decrease. Jeppson says that there really hasn’t been a better time to invest. “A couple of months ago might have been slightly better, but in all honesty, if you invest now and get a good property management team on your side, you’ll see both immediate and long term reward.”