mudsPIDS

MUDS, PIDS, and Other Special Districts

The DFW area is home to some of the largest master planned communities and subdivisions in the country.  As these areas are developed, Municipal Utility Districts (MUDs), Public Improvement Districts (PIDs) and other special districts are often set-up to finance the construction of vital public infrastructure that does not yet exist.  The cost of the installation of this infrastructure is passed on to the final homeowners in the form of additional taxes that are paid after the community is developed.  It is important for new home buyers in the area to understand these special districts and how they work to avoid surprises.

 MUD- Municipal Utility Districts

What is it: A Municipal Utility Districts (MUD) is a governmental entity created to fund improvements, or infrastructure, or utility services to a designated area.  Typically, a MUD is created in an area outside city limits or outside where a city was previously providing utility services.

Notification Requirements:  Sellers of real property located in a MUD must provide a notice to buyers prior to the execution of the sales contract. The notice may be given separately or as an addendum to the contract.

How do I find out if a property is in a MUD? A MUD is created under the authority of the  Texas Commission of Environmental Quality (TCEQ). To find out if an address is in a MUD, you may search the address online: https://www.tceq.texas.gov/gis/iwudview.html.   As of June 18, 2023, a MUD is required to make the completed notice available online, as well as file them with the county Real Property Records.

PID- Public Improvement Districts

What is it: A Public Improvement Districts (PID) is a special district created by a city or county to pay for improvements such as landscaping, parks, lakes and fountains and other recreational and pedestrian improvements. With a PID, a specific area receives funds for the improvements, and owners of the benefited land pay back the amount.  This amount may be paid upfront or over a course of time, until the full amount is paid off.  Unlike HOA dues, a PID may be tax deductible.

Notification Requirements: Sellers of real property located in a PID must provide a notice to buyers prior to the execution

of the sales contract. The notice may be given separately or as an addendum to the contract. A separate copy of the notice must be signed notarized and recorded at closing.  

How do I find out if a property is in a PID? PIDs may appear on the County Appraisal District’s website, on Seller’s tax bills, or on the PIDs website.  The PID is also required to file a copy of the notice in the county Real Property Records.

TIF-Tax Increment Financing

What is it: Tax Increment Financing (TIF) is a tool that incentivizes economic development of a specific area called a Tax Increment Reinvestment Zones (TRIZ) or TIF Districts.  Cities, alone or in partnership with other taxing units, can use a TIF to pay for improvements to a zone in an effort to attract new development.

Notification Requirements: Seller is not required to notify a buyer if a property is in a TRIZ.

How do I find out if a Property is in TRIZ? The governing body of the city or county that created the Tax Increment Reinvestment Zones TIRZ must send an annual report detailing the TIF project’s progress to the chief executive officer of each taxing unit participating in the TIRZ and to the Texas Comptroller of Public Accounts.  There are currently 19 active TIRZ Dallas and 11 in Fort Worth.

WCID- Water Control and Improvement District

What is it: A Water Control and Improvement District (WCID) is a special district that provides water, wastewater and drainage services to a specified area.  Both a WCID and a MUD are types of Water Districts controlled by TCEQ.

Notification Requirements:  Sellers of real property located in a WCID must provide a notice to buyers prior to the execution  of the sales contract. The notice may be given separately or as an addendum to the contract.

How do I find out if the property is in a WCID? Property address may be searched thru TCEQs website: https://www.tceq.texas.gov/gis/iwudview.html.

Realtor Tip:  All required notices given prior to the execution of the contract should be listed in the contract or are attached to contract at the time of signing. (See paragraph 6E(11) of the TREC One to Four Family Residential Contract.)

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August 2023 DFW Real Estate Stats

The North Texas real estate market in August 2023 continues to present intriguing dynamics. Here’s the latest data:

Average Days on Market:

  • Average days on market up across the board with Collin County up 47.8%, Dallas County up 33.3%, Denton County up 81%, Tarrant County up 70% and…Rockwall County: Surging over 2022 with an increase of 109%

Closed Sales Year Over Year:

  • Across all counties: Down, indicating a challenging market

Average Sales Prices:

  • Dallas County: On the rise by a remarkable increase of 16% , with an average sales price of $550,540
  • Collin County: Down slightly (2.2%), with an average sales price of $594,537

In this ever-evolving real estate landscape, understanding local market trends is essential. Whether you’re buying, selling, or investing, our team is here to provide expert guidance tailored to your needs.

Our stats infographics include a year over year comparison and area highlights for single family homes broken down by county. We encourage you to share these infographics and video with your sphere.

For more stats information, pdfs and graphics of our stats including detailed information by county, visit the Resources section on our website at DFW Area Real Estate Statistics | Republic Title of Texas.

For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.

Texas-Housing-Insight-July-2023

Texas Housing Insight July 2023 Summary

The persistent rise in mortgage rates continued to exert a cooling effect on the housing market. Texas’ home sales experienced an 8.4 percent year-over-year decline in July. Despite this diminished home demand, the scarcity of existing home sales contributed to a 2.1 percent increase in the state’s median price in 2023, leaving the index for shelter the greatest driver behind the escalating living costs. While existing home sales declined, residential construction starts continued to climb. At the same time, permits have fallen for several consecutive months, signaling a possible decline in starts in the near future.

Housing Market for New Construction in High Demand

More prospective buyers are dissuaded from making a home purchase in today’s high-interest environment, leading to a drop in sales. Compared with last month’s reading at 28,000 and July 2020’s record high at 38,400 transactions, Texas’ total home sales fell below 26,000 transactions this month. Monthly sales volume contracted 8.4 percent month over month (MOM) and 32 percent in three years (Table 1).

Despite the reduced housing demand, the market share of new construction sales ballooned. Within a year, the share of new construction sales rose from 15.2 percent to more than 20 percent, indicating every five closed listings is now a new home. Both demand and supply factors contributed to the increasing trend for new homes. The shortage of existing homes is due to current owners’ reluctance to give up their current homes. For more information on Austin’s new construction, read “Austin Home Price Illusion” at https://www.recenter.tamu.edu/articles/tierra-grande/Austin-Home-Price-Illusion-2378.

Texas’ average days on market (DOM) stayed at 56 days for the second straight month, deviating from the steep rebounding trend that lasted for over a year. The current reading is merely three days short of the five-year average before 2020, which stood at 59 days. The consistent reading suggests that the housing market may have reached a state of equilibrium. Among the major metros, Austin and San Antonio reported a longer-than-average DOM of 69 days, while Dallas and Houston had DOM figures of 46 days and 49 days, respectively.

The number of active listings rose to 2.3 percent, reaching just above 85,000 listings. All four of the major metros posted positive monthly gains with Dallas accounting for the largest gain at 5.7 percent MOM while Houston remained at last month’s level with a 0.4 percent MOM game. Conversely, the state’s new listings dipped by 12.7 percent to 36,880 units, with Dallas contributing significantly to this double-digit decline by registering a decrease of 1,800 units in July. Amid the rise in active listings, months of inventory (MOI) had a marginal gain to 3.3 months.

Since the Fed hiked interest rates by another quarter point, both treasury rates and mortgage rates increased in July. The ten-year U.S. Treasury Bond yield grew 15 basis points, reaching 3.9 percent. Likewise, the Federal Home Loan Mortgage Corporation’s 30-year fixed-rate increased to 6.8 percent, up 13 basis points. The inflated mortgage rate is expected to further raise the cost of home ownership and decrease mortgage applications.

Single-Family Permit Levels Continue to Drop

Texas’ single-family construction permits shrank to 12,240 applications in July after seasonal adjustment, marking a 3 percent MOM decrease. Houston’s (4,070 permits) contribution to the monthly shrinkage was prominent, as permits plummeted 17.8 percent MOM. Although Austin (1,380 permits) reported the largest rebound of 34.3 percent MOM, the gain was not enough to cover half of Houston’s loss. Dallas (3,540 permits) and San Antonio (760 permits) maintained their activity levels like June.

Construction starts had not yet reflected the decline in construction permits. After three consecutive growths, single-family construction starts in Texas balanced at 11,450 units. Both Dallas and Houston led with over 3,200 houses breaking ground, surpassing the combined total of other metros outside the “Big Four.” The ratio between home projects in Austin (1,580 starts) and San Antonio (810 starts) remained at approximately 2:1.

The state’s total single-family starts value reached $18.8 billion, up from $15.9 billion in June. While the current starts value fell short of the peak during the pandemic frenzy in 2020-22, it aligned with construction activity levels observed in 2019. Notably, Houston and Dallas remain pivotal players, contributing to more than half of the state’s construction activity values. Dallas’ market share rose to 27.6 percent, closely trailing Houston’s 27.7 percent share.

Steady and Modest Price Gains Amid Sales Decline

The low supply of homes had supported price gains, and the steady uptick in Texas’ median home prices, including both new and existing homes, moderated from 0.4 percent in the first five months to 0.2 percent in June and July. Three of the Big Four metros reported monthly changes of less than 1 percent, indicating price stability for the state’s housing market. Austin’s median price remained more elevated than all other metros at $454,000 (Table 2). Dallas followed with $398,300.

Amid Austin’s recent price volatility, this metro was still approximately 10 percent below last year’s $507,400 median price. Meanwhile, the state along with the other major metros narrowed the gap to 1 percent, down from 5 percent in June. These changes indicate the real estate industry has nearly reached a full recovery from the price correction observed in the second half of 2022.

Since the dip from July to December 2022, the Texas Repeat Sales Home Price Index (Dec 2004=100) had reverted to the trend. Though the acceleration slowed to 0.7 percent YOY, the index balanced at 229.4, beating June 2022’s record-high reading when the annual increase was at an astonishing rate of 16.5 percent YOY. The elevated index corroborates a rebound in home price appreciation in 2023.

Despite the challenge of high mortgage rates and reduced housing demand, the market share of new construction sales surged. Within a year, the share of new construction sales rose from 16.3 percent to more than 20 percent, indicating every five closed listings is a new home. Both demand and supply factors contributed to the increasing trend for new homes. The shortage of existing homes is due to current owners’ reluctance to give up their current homes, while the state’s consistent home demand, fueled by a growing population, is spurring new construction orders.

Texas’ average days on market (DOM) stayed at 56 for the second straight month, deviating from the steep rebounding trend observed for over a year. The current reading is merely three days short of the five-year average before 2020, which stood at 59 days. The consistent reading suggests that the housing market may have reached a state of equilibrium. Among the major metros, Austin and San Antonio both reported a DOM of 71 days, while Dallas and Houston had DOM figures of 52 days and 49 days, respectively.

Steady and Modest Price Gains Amid Sales Volatility

Texas’ median home prices continued to show its strength by increasing 0.3 percent to $337,900 (Table 2). Austin recorded the largest monthly gain of 4.2 percent, reaching a price peak in the past nine months. The remaining three metros recorded changes of less than 1 percent.

Despite Austin’s price hike in June, this metro was still close to 10 percent below last year’s record high, facing the largest price gap. Meanwhile, Dallas, Houston, and San Antonio had less than 5 percent to bridge. These price drops indicate the real estate industry still has room to recover from the price correction observed in the second half of 2022.

The Texas Repeat Sales Home Price Index, which accounts for compositional price effects and provides a better measure of change in single-family home values, showed a slight advance of 0.3 percent MOM and 0.1 percent YOY. Houston had the highest annual appreciation with 1.6 percent YOY increase, while Austin remained balanced with no YOY changes.

Mortgage rates typically follow Treasury rates, and both increased in June. The ten-year U.S. Treasury Bond yield grew 18 basis points, reaching 3.8 percent. Likewise, the Federal Home Loan Mortgage Corporation’s 30-year fixed-rate increased moderately to 6.7 percent, up 28 basis points. With the Fed resuming their increasing of interest rates in July, both the bond and the mortgage rates also grew.

Source – Joshua Roberson, Weiling Yan, and Koby McMeans (September 7, 2023)

https://www.recenter.tamu.edu/articles/technical-report/Texas-Housing-Insight

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Spotlight on Dallas

Whether you’re a lifelong resident or new to the area, there’s always something new to discover about your neighborhood.  With that in mind, we created a Fast Facts sheet for cities and neighborhoods all over the DFW area. Our DFW Area fast facts have detailed real estate insights, things to do, places to shop and some of our favorite restaurants in each area.

Dallas is a dynamic and cosmopolitan city known for its thriving economy, diverse culture, and iconic landmarks. From the historic Dealey Plaza to the bustling Arts District, Dallas offers a range of attractions, including world-class museums, vibrant entertainment venues, and a renowned culinary scene. With its blend of Southern charm and modern urban development, Dallas is a destination that seamlessly combines business opportunities, cultural experiences, and a rich Texan heritage.

Head to our website now to get all the details you need to stay up-to-date and in-the-know about your local neighborhood. Your community is waiting for you! republictitle.com/dfw-area-city-fast-facts

POPULATION

1.2M

AVERAGE HOUSEHOLD INCOME

$87K

MEDIAN AGE

33

HOUSING

41% OWN
59% RENT

AVERAGE SALES PRICE

$494K

AREA ACTIVITIES & FEATURES

• AMERICAN AIRLINES CENTER
• DALLAS ARBORETUM & BOTANICAL GARDENS
• DALLAS ARTS DISTRICT
• DALLAS MUSEUM OF ART
• DALLAS WORLD AQUARIUM
• GEORGE W. BUSH PRESIDENTIAL LIBRARY & MUSEUM
• KATY TRAIL
• KLYDE WARREN PARK
• PEROT MUSEUM OF NATURE & SCIENCE
• SIXTH FLOOR MUSEUM
• WHITE ROCK LAKE

FAVORITE LOCAL DINING & DRINK SPOTS

• AL BIERNET’S • BREADWINNERS • BOB’S STEAK & CHOP HOUSE •
• CANE ROSSO • CARBONE’S •
• CELEBRATION • MERIDIAN • MICOCINA • MONARCH •
• PECAN LODGE • PETRA & THE BEAST • SADELLE’S •
• SHINSEI • THE MANSION RESTAURANT •
• TOWN HEARTH • UCHI •

FAVORITE LOCAL SHOPPING

 • BISHOP ARTS DISTRICT • DALLAS FARMER’S MARKET •
• DEEP ELLUM • GALLERIA DALLAS • HIGHLAND PARK VILLAGE •
• LOWER GREENVILLE • NORTH PARK CENTER • SHOPS AT PARK LANE 
• WEST VILLAGE

AVERAGE DRIVE TIMES

• DALLAS LOVE FIELD AIRPORT | 15 MINUTES
• DFW INTERNATIONAL AIRPORT | 21 MINUTES
• AT&T STADIUM & GLOBE LIFE FIELD | 20 MINUTES
• DOWNTOWN FORT WORTH | 36 MINUTES

**Print Version

Class-Calendar-Blog-Header

September Class Calendar

Republic Title is pleased to offer a variety of continuing education classes for our customers. Join us in September for classes including:

TREC 1-4 Family
Learn about the TREC 1-4 Family Residential Contract (Resale) and other pertinent addenda.
September 6th
10:00 am – 12:00 pm
Republic Title Preston Legacy

Matrix MLS Advanced
Learn advanced features available in the NTREIS Matrix MLS System including reverse prospecting, custom displays,
market reports, speed bar, mapping/layers, statistics, exports, etc.
September 7th
10:00 am – 12:00 pm
Zoom

Instagram Reels for Real Estate Agents
If you’re looking to connect with more buyers and sellers while growing your brand, then Instagram Reels could be for you. Reels is a powerful way to cast a larger net to grow your followers and to showcase your listings to a wider audience. In this course you will learn the quick and easy steps to create a reel and given examples of content ideas so you can get started today.
September 13th
10:00 am – 11:00 am
Republic Title Prosper

Escape Hatches for Buyers
In this class licensees will become familiar with specific conditions & contingencies within the contract and related addenda that, if not adhered to, could result in a Buyer’s valid termination of the contract.
September 14th
10:00 am – 11:00 am
Zoom

Tax Planning for Real Estate Agents
Join us for a Tax Planning Course with Deepwater Accounting Solutions Group. They will share strategies to help you minimize your tax liability and keep more of what you make year after year. Please register in advance, as seats are limited.
September 19th
10:00 am – 11:00 am
Republic Title Park Cities

Death, Divorce & Real Estate
Join us to learn important laws surrounding death and divorce such as separation, homestead issues, community property and probate.
September 19th
2:00 pm – 3:00 pm
Republic Title Frisco Office

Step Up Your Instagram Game
In today’s real estate market, Instagram marketing is essential to showcasing who you are and connecting with your sphere. Are you ready to take your Instagram to the next level? Join us in this class for a complete guide to Instagram including ways to enhance your bio, tools for creating great content, how to target and attract buyers and sellers, and much more!
September 21st
10:00 am – 11:00 am
Republic Title North Dallas Office

Instagram Reels for Real Estate Agents
If you’re looking to connect with more buyers and sellers while growing your brand, then Instagram Reels could be for you. Reels is a powerful way to cast a larger net to grow your followers and to showcase your listings to a wider audience. In this course you will learn the quick and easy steps to create a reel and given examples of content ideas so you can get started today.
September 21st
11:30 am – 12:30 pm
Republic Title North Dallas Office

An Introduction to Special Districts in Dallas
Real estate agents are pivotal in property transactions, making their grasp of zoning district implications vital for success. This class dives into the core significance of zoning regulations, equipping agents with the insights needed to excel within ever-evolving real estate landscapes.
September 26th
10:00 am – 11:00 am
Zoom

Incredible Canva Tips and Tricks
Boost your listings and properties easily and efficiently using Canva’s beautiful real estate templates. Join us to learn new tips and tricks to make designing even easier and make marketing one of your new favorite tasks!
September 27th
10:00 am – 11:00 am
Republic Title Preston Legacy Office

Incredible Canva Tips and Tricks
Boost your listings and properties easily and efficiently using Canva’s beautiful real estate templates. Join us to learn new tips and tricks to make designing even easier and make marketing one of your new favorite tasks!
September 28th
10:00 am – 11:00 am
Republic Title Prosper Office

TaxCut

Texas House and Senate Agree to Largest Property Tax Cut in Texas History

On August 9th, Governor Greg Abbott ceremonially signed legislation delivering the largest property tax cut in Texas history – $18 billion – passed during Special Session #2 of the 88th Legislature in New Caney. Under Senate Bill 2 and Senate Bill 3, $18 billion of Texas’ historic budget surplus will be allocated toward driving down school district property tax rates, increasing homestead exemptions for Texas homeowners, and increasing Franchise Tax exemptions and appraisal caps for small businesses.

Senate Bill 2 provides property tax relief through tax rate compression, an increase in the homestead exemption, and a pilot project limiting the growth in appraised values. For tax year 2023, this will save the average Texas homestead owner over $1,200. Texas homestead owners over 65 or with a disability will see over $1,400 in savings.

Senate Bill 3 law increases the Franchise Tax “no tax due” threshold to $2.47 million and removes burdensome filing requirements for those who do not owe tax. 

The constitutional amendment to provide the largest property tax cut in Texas history will be added to the Texas Constitution if approved by a simple majority of Texas voters on November 7, 2023.

For more information, visit Governor Abbott Signs Largest Property Tax Cut In Texas History | Office of the Texas Governor | Greg Abbott

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July 2023 DFW Real Estate Stats

July 2023 brought distinct trends to the real estate markets of Collin, Dallas, Denton, Rockwall, and Tarrant Counties. Collin and Dallas Counties experienced an 18% decrease in new listings, coupled with increased days on the market (63% and 65% respectively).

While average sales prices surged in Dallas County (8%), Collin County witnessed a 5% rise in price per square foot, offset by slight decreases in average sales price and number of sales. Denton County faced a significant 24% decline in new listings, accompanied by a notable 119% increase in days on the market.

Although average sales prices and price per square foot increased (2% and 4% respectively), sales decreased by 7%. Rockwall County encountered reduced new listings (13%) and an extended period on the market (68%). While active listings rose (4%), average sales prices dropped by 11.5% and the number of sales decreased by 14%. Tarrant County saw a 23% decline in new listings and a substantial 113% rise in days on the market. Active listings decreased by 2.6%, average sales prices dipped by 1.3%, and the price per square foot increased by 2.5%, resulting in a significant 12.7% reduction in the number of sales.

Our stats infographics include a year over year comparison and area highlights for single family homes broken down by county. We encourage you to share these infographics and video with your sphere.

For more stats information, pdfs and graphics of our stats including detailed information by county, visit the Resources section on our website at DFW Area Real Estate Statistics | Republic Title of Texas.

For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.

Texas-Housing-Insight-June-2023

Texas Housing Insight June 2023 Summary

Contrary to investors’ fears, the “housing bubble” did not burst. Instead, a harmonious decline in both supply and demand has struck a balance, resulting in a boost to the housing median price. Throughout the first half of 2023, Texas’ median price has consistently shown a 0.3-0.4 percent growth every month. Due to current owners’ reluctance to sell their existing property, the demand for new construction has significantly increased. This preference shift led to a swift climb in the market share of new construction, which surpassed 20 percent in June. 

Active Listings  Rebound for First Time in Eight Months

The number of active listings rose for the first time since November 2022, reaching 82,064 units after a 3.9 percent month-over-month (MOM) growth. However, none of the Big Four metros recorded a positive monthly gain. The boost of available homes primarily came from the smaller housing markets, such as El Paso, Killeen, Midland, and Texarkana. The number of new listings increased by 6.7 percent to 40,800 units, accounting for half of active listings. All major metros bucked the trend of acceleration with growth ranging from 3.3 percent to 8.9 percent. Correspondingly, months of inventory (MOI) had a marginal gain of 0.1 months.

Regarding the upcoming inventories, Texas’ single-family construction permits had their second decline in three months, dropping by 2 percent in June. While the number of permit applications has significantly shrunk from the frenzy of applications during the pandemic, permit issuance seems to be returning to the ten-year trend before the pandemic.

At the metro level, Houston had the largest demand for permits with 4,500 issuances in June, maintaining the same level as in May. Dallas and Austin both had a mid-single-digit reduction, falling to 3,480 and 1,040 units, respectively. In contrast, San Antonio’s permit demand was rising this year, jumping from 500 units in January to 840 units in June. Permit demand remains significant in the Texas housing market.

Despite the fall in permits, single-family construction starts rose for the third consecutive month to 11,240 units. Both Dallas and Houston had more than 3,500 houses break ground, surpassing the combined total of other metros outside the “Big Four.” While the number of home projects in Austin (1,540 starts) outpaced San Antonio (804 starts), the gap has gradually narrowed as permit demand accelerated in San Antonio. The overall trend indicates a positive momentum in the Texas single-family construction market.

The state’s total single-family starts value reached $15.9 billion year-to-date (YTD), indicating a decline from $23.2 billion recorded in 2022. Houston and Dallas continue to account for more than half of the state’s construction activity values. Dallas’ share of the Texas market rose to 27.5 percent, coming close to Houston’s share of 28 percent. 

Housing Market for New Construction Is Booming

As mortgage rates remain elevated, homebuyer demand has decreased, leading to a drop in Texas’ total home sales, which fell below 28,000 transactions in June (Table 1). This represented a decline of 3.2 percent MOM and 11.8 percent year over year (YOY). Among the four major metros that reported fewer monthly sales, Austin declined the most with a double-digit reduction.

 

Despite the challenge of high mortgage rates and reduced housing demand, the market share of new construction sales surged. Within a year, the share of new construction sales rose from 16.3 percent to more than 20 percent, indicating every five closed listings is a new home. Both demand and supply factors contributed to the increasing trend for new homes. The shortage of existing homes is due to current owners’ reluctance to give up their current homes, while the state’s consistent home demand, fueled by a growing population, is spurring new construction orders.

Texas’ average days on market (DOM) stayed at 56 for the second straight month, deviating from the steep rebounding trend observed for over a year. The current reading is merely three days short of the five-year average before 2020, which stood at 59 days. The consistent reading suggests that the housing market may have reached a state of equilibrium. Among the major metros, Austin and San Antonio both reported a DOM of 71 days, while Dallas and Houston had DOM figures of 52 days and 49 days, respectively.

Steady and Modest Price Gains Amid Sales Volatility

Texas’ median home prices continued to show its strength by increasing 0.3 percent to $337,900 (Table 2). Austin recorded the largest monthly gain of 4.2 percent, reaching a price peak in the past nine months. The remaining three metros recorded changes of less than 1 percent.

Despite Austin’s price hike in June, this metro was still close to 10 percent below last year’s record high, facing the largest price gap. Meanwhile, Dallas, Houston, and San Antonio had less than 5 percent to bridge. These price drops indicate the real estate industry still has room to recover from the price correction observed in the second half of 2022.

The Texas Repeat Sales Home Price Index, which accounts for compositional price effects and provides a better measure of change in single-family home values, showed a slight advance of 0.3 percent MOM and 0.1 percent YOY. Houston had the highest annual appreciation with 1.6 percent YOY increase, while Austin remained balanced with no YOY changes.

Mortgage rates typically follow Treasury rates, and both increased in June. The ten-year U.S. Treasury Bond yield grew 18 basis points, reaching 3.8 percent. Likewise, the Federal Home Loan Mortgage Corporation’s 30-year fixed-rate increased moderately to 6.7 percent, up 28 basis points. With the Fed resuming their increasing of interest rates in July, both the bond and the mortgage rates also grew.

____________________
* All measurements are calculated using seasonally adjusted data, and percentage changes are calculated month over month, unless stated otherwise.

Source – Joshua Roberson, Weiling Yan, and Koby McMeans (August 15, 2023)

https://www.recenter.tamu.edu/articles/technical-report/Texas-Housing-Insight

Meet-the-Teacher

Meet the [Republic Title] Teacher with Annette Carvalho-Jordan

In celebration of Back to School season, we want to take this opportunity to highlight Republic Title’s teacher/trainer Annette Carvalho-Jordan. Annette has been teaching for over 25 years and is known as an industry expert in real estate, social media, marketing trends, and new technology to help real estate agents with their business. Join us as we “Meet the Teacher” with Annette and learn more about her favorite classes, funniest moment teaching, and her favorite tech tools.  

  1. What classes do you find the most helpful/beneficial for agents?  Considering the extensive list of classes we offer, the most beneficial would really depend on the expertise level of the agent and their specific needs.  However, some universally beneficial topics might include:  1) Mastering the MLS.  Republic Title offers everything from Basic to Advanced Matrix classes, and we dive even deeper with additional classes on the MLS Dashboard including Stats and Lead Generation.  2) zipForm/DocuSign/Authentisign.  Facilitating digital transactions is essential, however these tools continue to change and evolve. Agents must know these tools inside and out to have the confidence needed to push through deals effectively and efficiently. 3) Social Media and other trending Tech like ChatGPT.  In today’s digital era and with AI having a stronger presence now more than ever, staying up to date is critical. Our classes help agents leverage various social media and trending tech to market their services, engage with potential clients, and stay updated with industry trends.
  2. What are the benefits of taking Republic Title education classes?  I think it boils down to 3 important things:  1) Expert Guidance: Our classes are led by industry veterans who have a wealth of knowledge and experience in real estate and understand how it applies to the day-to-day tasks of a real estate professional; 2) Practical Application: The courses we offer at Republic Title are designed to be hands-on and practical. We understand that the best way to learn is by doing, so our classes give agents the opportunity to practice their skills in real-world scenarios; 3) Stay Ahead of the Curve: The real estate industry is constantly evolving, especially with advancements in technology. Our classes help agents stay updated with the latest tools, trends, and best practices in the industry.
  3. What are the three classes you think every agent should take at least once?  I truly believe that all our classes offer unique benefits and insights. Each course has been carefully designed and materials updated/revised to reflect the most recent developments to meet the evolving needs of real estate professionals. I recommend that every agent explore the full range of classes we offer (whether that be a tech class, or an attorney led class) at least once to truly maximize their potential in this dynamic industry.
  4. Any funny or interesting stories from one of your classes?  In one of my classes, I was teaching the use of mapping through one of the CMA tools. I was showing the mapping feature and I accidentally entered the coordinates for a location halfway across the world instead of a local property. The whole class had a good laugh (including me) when we ended up with our subject property being in Hawaii and our comps being in Texas!  It turned into a great teaching moment of the importance of double-checking all your input. 
  5. How long have you been with Republic Title and what led you to being in the education team?  I have been with Republic Title for 9 years (10 years in February 2024).  My journey towards the education team was driven by my passion for both the real estate industry and teaching for over 25 years.  I realized that technology plays a significant role in the real estate industry, and I wanted to leverage that in my career and help others. Joining the education team at Republic Title allowed me to do exactly that. Now, I can share my knowledge, learn from others, and contribute to the professional growth of real estate agents in North Texas.