Demand for homes rising in Dallas and surrounding areas
The uptick in housing construction and residential property sales is driving more people to Dallas. Additionally, the city's economy is growing, which could further enhance interest in the area. When people check out some of the homes for sale in Dallas, they're likely to find plenty of opportunities to find quality residences in this city and its neighboring communities.
According to the Fort Worth Star-Telegram, existing home sales in Dallas have increased for 13 consecutive months. While the city struggled during the recession that plagued many areas in the late 2000s, Dallas appears to be recovering, and its success is impacting surrounding areas.
Aledo is a growing community in the Dallas area
Aledo, a city located approximately 57 miles west of Dallas and 19 miles west of Fort Worth, is one of many communities that has benefited from the improving housing market. Ken Pfeifer, Aledo's City Planner, points out that the city features about 850 single-family homes, and the rising interest in properties could lead more residences to be constructed in the future.
"We want the growth and welcome any new families," Pfeifer told the news source. "It's been a while."
A new housing development has already been planned in Aledo. This area will feature 17 acres of parks and open space, crushed limestone trails and 68 residences. Justin Welborn, the managing partner for the project, said he expects the development to be finished in January 2013 and all of its homes to sell within five years.
Other housing developments are being built across the region to help draw more people to the area. In North Arlington, one contractor plans to create 3,500 single-family properties over the next 10 to 15 years, and various projects are also being completed in Fort Worth.
Take advantage of lower-than-average interest rates to acquire houses in Dallas that could rise in value over the next few years.
As of October 25, 2012, the average interest rate on a 30-year fixed-term mortgage was 3.41 percent. Meanwhile, 15-year set-term mortgages are also available with an average interest rate of 2.72 percent. Many homes are available in the Dallas area, so find a residence that fits your tastes and consider the loan options that are currently being offered by lenders to obtain a house in this region.