The Highs and Lows of the Dallas Real Estate Market

The Highs and Lows of the Dallas Real Estate Market | by Jim Catalano

The Highs

In case you wanted something that is one of a kind this 8,500 square foot penthouse unit is the highest home in North Texas. It takes up the entire 42nd floor of the Dallas Museum Tower condo building. That building is the attractive shiny silvery glass tower located in downtown Dallas’ Arts District.

The view is spectacular, and you get a 360-degree view with two large outdoor terraces on the north and south side of the highrise.

And there is more. The list price is a cool $21 million.

But that’s not all. It’s just space with walls. You get to finish it out any way you’d like — of course, that’s not part of the price.

It is one of a kind, though.

The Lows

Now that you’ve seen what’s available at the top of Dallas, let me bring you back down to earth.

For those who are looking to invest in a home right now, home mortgage rates remain at historical lows. Not all lows are bad, right?

After big gains in Retail Sales in June, economists were anticipating a 0.4 percent rise rather than the zero percent change that was reported. Lower food sales, beverages, building supplies, and gasoline were a drag on the data.

Also, wholesale inflation appears to remain tepid which is always good news for home mortgage loan rates, since they are tied to Mortgage Bonds.

So depending on the highs and lows from your perspective, both the penthouse and home mortgage rates appear favorable under current market conditions. Of course in Texas, there is always the chance for a whirlwind to dust things up.

 

Picture credit: (Jae S. Lee/The Dallas Morning News) Jae S. Lee/Staff Photographer – An aerial view of Federal Reserve Bank of Dallas (bottom left) and Winspear Opera House along Woodall Rodgers Freeway from a penthouse at Museum Tower in Dallas, Thursday, July 28, 2016.

Let me help you with a mortgage plan