Havey Hits Housing Market!

Written by Posted On Tuesday, 05 September 2017 07:45

Dallas, Texas......

                                                                                              The ALLMANAC

Houston: At midyear, more than 27,000 homes and 23,000 apartments were
under construction –
with a shortage of labor. 80% of Harris County is under water.
CoreLogic estimates almost 250,000 homes are at risk with reconstruction cost
of around $40 billion. Replacement and repair for homes and businesses will
add to worker and material shortages for years.

NYC: Insurance stocks are among the biggest decliners in the S&P 500 index
as investors weigh the impact of home and auto damages from Hurricane
Harvey. As many as 500,000 autos may be scrapped. Early estimates of $30-
$80 billion in damages includes about two-thirds of that amount not covered
by insurers because much of it was caused by flooding, which is backstopped
by the U.S. Government. Insurers’ risks will likely be from windstorm and storm
surge damage. State Farm Mutual, not publicly traded, has the largest home
coverage market share in Texas, followed by Allstate.

D.C.: The National Flood Insurance Program, created in 1968, is run by the
Federal Emergency Management Agency, administering some 5.1 million policies
totaling $1.25 trillion in coverage across 22,000 communities. The program has
amassed a debt to the U.S. Treasury of $24 billion. Its flood maps are considered
out of date, and it has been on the Government Accountability Office’s high risk
list since 2006.

Dallas: The Golf Club of Dallas, built in the 1960s as the Oak Cliff Country
Club, was the 10-year home to the Dallas Open, which became the Byron
Nelson tournament. The 150-acre course may soon become a new community with
hundreds of single-family homes, one of the largest such developments in years
for southern Dallas.

NYC: With the high cost of housing pushing people from city centers, developers
are looking at underutilized suburban office campuses as cost-efficient options for
affordable housing. A 300 obsolete office acre site in New York state is planned
to offer apartments for as low as $1,200 per month. The trend could grow. A 2016
study reports between 14%-22% of suburban office inventory in Colorado, New
Jersey, California, Chicago and Washington, D.C. was considered obsolete, making
them prime prospects for inexpensive redevelopment projects.


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"It's a privilege to work with my clients. I am humbled and blessed to serve their Real Estate needs."

When asked about the secret to her success in real estate, Nora Ling Lane will simply answer, “The Grace of God.” As the daughter of Dallas real estate legend, Jennie Ling, Nora learned how a great work ethic and putting her clients above all else leads to results. She believes that honesty,  integrity and relationships  are the key ingredients that set market leaders apart. Her motto is, “say what you mean, and mean what you say.” For more than 32 years, Nora has specialized in the Park Cities and vicinity, Preston Hollow and Lakewood where she, along with her husband, Jody, raised all three of their daughters.

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