A new report by the Data Relevance Project, communicated by the Texas Association of Realtors has indicated a 7.8 percent rise in sales in Texas for Q1 2016 as compared to the first quarter of 2015. The report provides market pointers relevant to buyers, sellers, and residential construction entrepreneurs. Property development expert based in Dallas, Marcus Hiles has expressed his views on the report.
As summer weather surrounds us, prominent Texas real estate developer Marcus Hiles offers four basic tricks that will allow apartment hunters and homebuyers to dramatically lower their energy bills. The Chairman and CEO of Western Rim Property Services, Hiles is always one to follow his own advice. He employs these energy saving tips in all of the units he builds. The first thing he suggests doing is ensuring the use of windows with a solar heat gain coefficient of 0.22 to 0.24, including the Cascade Low E Argon Gas Win Pro Series. Through heat transfer, old windows from the 1980s lose up to 100 times more energy than a fully insulated solid wall. “While older casements, transoms, and sliders are beautiful, having the newest windows and frames prevents air and energy leakage, cutting your heat loss by 75 percent,” Hiles says.
Marcus Hiles, property development specialist has promised to plant 2,500 plants annually. That is the central part Western Rim’s objective to form sustainable groups throughout Texas. As founder and CEO of Texas-based property firm, Western Rim Property Services, Hiles makes sensible subdivisions where people can lead an upgraded lifestyle surrounded by parklands, nature trails, and green spaces.
Marcus Hiles is careful of his organization’s carbon footprint with each project they plan. He is conscious about the extraordinary impact of planting trees on nature. “We give our inhabitants the minimum housing density with the most successful expanse of greenery. The work goes past improving the air quality and reducing greenhouse gases. These plants can fundamentally diminish toxins in storm water and reduce general neighborhood noise pollution. One strong tree is equal to 10 standard room-sized ac units running for 20 hours consistently. Our trees provide the necessary shade with the extremely warm Texan sun allowing it to help decrease cooling needs by almost up to 30%.”, says Marcus Hiles.
Reflecting a desirable list of benefits offered to residents of San Antonio, the best news is that housing costs, while rising, remain less expensive here compared to the rest of the nation according to a Jan. 27, 2016 Forbes article. The city also reflects a healthy rental housing market, experiencing an approximate 4 percent rent increase in 2015 according to Freddie Mac’s latest forecast, with demand for more luxury amenities accompanying wage increases. Upscale interior features of hardwood floors, 9-10 foot ceilings, tall windows, granite counters, porcelain tile, and formal entries in communities located in The Mansions at Briggs Ranch and the Estates at Briggs Ranch offer posh lifestyles at competitive prices. Both communities, created and managed by Marcus Hiles also boast outdoor amenities featuring nature trails, summer kitchens, extended WiFi, pools, splash parks, and convenient access to golf courses, contributing to an overall improvement in health, wellness, and leisure activity.
Urban living maintains many perks, but the downsides of city density are causing a new round of amenity-rich, luxury rentals in the suburbs. Marcus Hiles discusses the suburban upmarket apartment phenomenon with enthusiasm, as an expert in its increasing popularity from a frontline perspective being a developer and businessman. Projecting that today’s potential buyers would turn to rentals, when priced out of expensive, big city communities, Hiles anticipated the need. On target with the conclusions of a Forbes article that notes corporate moves to the suburbs as a job magnet for renters, the real estate mogul applied knowledge and insight to build some of the most desirable upscale apartment communities in suburban areas across the state. Marcus Hiles’ locations and planning proved successful, ahead the steep supply/demand curve that saw renting increase by seven million people in a single decade from 2006 to 2016, as noted by REIT. Holding the lowest vacancy rates in the past ten years, Fortune Magazine claims, “Demand for suburban rental apartments has boomed while construction of those units have lagged behind.”
Venture capital investments are an important measure of economic growth, Marcus HIles points out, because the influx of dollars allows companies to hire more workers, upgrade equipment, and ramp up product development and marketing efforts. As a result, capital firms receive a considerable portion of the profits, as successful young companies are sold or go public, and continue the cycle.
Marcus Hiles noted that as millennials seek more room than they can afford in the city, empty nesters look to downsize and minimize upkeep, and recent college graduates search for their first residence, developers have had to react to shifts in the market. This has resulted in the suburbs becoming decidedly more urban. Former New York City resident Rima Chodha, who recently moved to a townhome in nearby Huntington Station, stated in the New York Times, “What makes us happy is a small, functional, modern space along with a community and amenities that provide the quality of life we’ve become accustomed to while living in the city.” Apartments and townhomes are now commonly seen near town centers, within walking distance of restaurants, pubs, clubs, shops, schools, biking paths and train stations. These modern multifamily residences allow tenants to retain a semblance of a city life, with the added amenities of landscaping and maintenance services, walking trails, dog parks, gyms, business centers, and spas.
The state will undoubtedly see continued growth. Forbes Magazine underscores the economics behind it, noting that, “In fact, there is no regional economy that has more momentum than the one that straddles the 74 miles between San Antonio and Austin.” Marcus Hiles envisioned this situation when he launched Western Rim Properties thirty years ago, intending to provide communities that tenants would value for their lavish interior features, outdoor entertainment components, fitness centers, and proximity to nature. Formerly dependent on oil, the Texas economy has grown and invited a wide range of industry due to its advantageous tax structure, affordable housing, and location along the Mexican border. Bloomberg elaborates, reporting that “Harris County, a global hub for the energy industry, has added more than 440,000 people since 2010 with annual increases averaging 2 percent over the past five years,” independently growing has remained strong despite the decreasing oil prices. Furthermore, corporate jobs with AT&T, American Airlines, and similar companies have brought 186,000 positions to the Dallas area within the same time frame.
In addition to the elevated lifestyle experience Marcus Hiles Fort Worth based company gives its residents access to nearby employment opportunities and excellent school districts. Both of these are important factors for working class Texans as they elect an upscale suburban life. Corporate relocations to outlying areas of the Lone Star state’s cities have helped create jobs, with more than 400,000 being generated over the last two years in the Dallas metroplex alone. These sweeping changes have birthed career growth throughout the suburbs, with new hires benefitting from shorter and easier commutes. These same locations where Western Rim chose to establish their lavish complexes are also regarded for the exceptional quality of their public school systems; and as research has shown, better educated cities have a higher income. A quick look at the numbers comparing college graduates in population (41 percent) and Dallas (18 percent) demonstrates an average household earning $131,291 for the former and $72,625 for the latter.
Whether you are looking to rent or buy a house, the constant dilemma is to understand if it is best to live an chic urban life or to settle in a luxurious suburban community. According to area’s top real estate agents, in any given circumstance the cost per square foot in the city is twice as much as that of an outlying district. While it is crucial to think about financial aspects of the pursuit in order to stay on budget, the price is not the only thing that matters to buyers and renters. Employment factors are more important to take into account, as analysts suggest job creation rates to be several times higher in northern counties of the Dallas-Fort Worth metropolitan area than in the city itself. With the rise in labor market, the economy of the suburbs has soared significantly, with incomes increasing by approximately 30-50 percent compared with urban areas of Dallas and Fort Worth. As the average income goes up, the value of properties in the housing market moves upwards. Higher education, good health, and safety indicators are also associated with improved affluence and property value of the Fort Worth properties.