Dallas Property Market and Real Estate Guide
(Dallas, Texas - TX, USA)
The Beta World City of Dallas, Texas, lies along the Trinity River at a 'white rock crossing' used by the early pioneers. Now a massive conurbation known as a center for the oil industry, its economy also relies on commerce, banking, telecommunications and computer technology. Its airport is one of the busiest in the world, and its transport networks are world-class.
Built on a flat plain, Dallas has a huge number of districts and neighborhoods. Preston Hollow is 'millionaires' row', Midtown has high-rise condo blocks, East Dallas is a trendy arts area, northeastern Lake Highlands is a stable residential suburb, and downtown Dallas boasts a variety of appealing areas including the Arts District, the West End Historic District and the Farmers' Market district. The southern parts of the city have high rates of poverty and crime, and the South Dallas district has many vacant lots, with boarded-up buildings.
The choice of properties in Dallas is huge, from lofts, duplexes, condos, gated and golf community homes, lake properties, family homes and townhouses, to luxury mansions and ranches. The economic crisis caused a significant decline in property values and a high number of repossessions. However, since the beginning of 2010, prices have risen by at least five percent. Overall, property prices, except in upscale areas, are cheaper than in Europe, with repossessions still available at a discount.
Renting Serviced Apartments
Several companies in Dallas offer a choice of aparthotels and serviced apartments, either executive or luxury, for extended-stay corporate visitors. Many are located either close to downtown and the business district, or linked to conference centers. Facilities are ultra-modern, and discounts with best rate guarantees are on offer at present.
Buying Apartments and Houses
Given the large number of districts in the city of Dallas, the even larger number of properties at present available and the dampening down of prices over the last two years, now would seem a good time to buy. Foreigners can purchase a holiday home, but can only occupy it for six months per year. For permanent residence, a Green Card or work permit plus a social security number must be produced.
The purchasing process requires the services of a realtor and lawyer. Your realtor makes all arrangements and negotiates with the seller, and your lawyer ensures there are no liens on the property. When the 'intent to purchase' contract has been signed and the deposit secured, searches and a property inspection are arranged. On signing the final contract, the property is re-registered and the balance due is paid. Extra costs are between six and eight percent of the purchase price.
Real Estate Agents
Most of the huge number of real estate agencies in Dallas have links either with major agency chains or with a number of local realtors and agencies, giving the buyer a wider choice of properties.
Check out the following Dallas estate agencies:
Address: 5600 West Lovers Lane, Suite 224, Dallas, Texas TX, 75209, USA
Tel: +214 350 0400
This upscale agency is linked with Christie's Great Estates and deals with luxury and middle-range homes.
Ebby Halliday Realtors
Address: 2828 Routhe Street, Suite 100, Dallas, Texas TX, 75201, USA
Tel: +214 303 1133
This agency has offices in a number of Dallas districts, and comes with an informative website.
Keller Williams Realty
Address: 18383 Preston Road, Suite 150, Dallas, Texas TX, 75252, USA
Tel: +972 386 7454
This friendly agency has a comprehensive and interesting website, which includes useful virtual tours of each area.