In Dallas, 10% of the homes for sale sell within 72 hours. Also, 40% of the homes will sell within two weeks. Altho the numbers are for Dallas, they are certainly indicative of the North Texas market area.
Here we are in the middle of the hottest residential market in memory but our leaders are telling we of the unwashed that we are "over built" with these types of houses. What a bunch of hogwash!! And we continue to let tax base slip thru our fingers. Its a good thing we have consultants to tell us what to do, because no one else seem to have a clue. Consultants know what they're doing, right?
The following language appears in the staff report of a 58 acre tract requesting residential zoning originally scheduled for tomorrow night's city council meeting: "The applicant was informed before they submitted the rezoning application of the intent of the Realize Rowlett 2020 vision for the Area B-1 and the North Shore Master Planning Initiative. Staff explained up front that a conventional zoning request would not be supported by Staff, as that would not further the City’s goals of providing diversified housing types and that the subject property is intended for future commercial development. Additionally, it was explained that the City’s long term goals for the North Shore Area is to provide for a diversified commercial tax base."
Of course, we are saving our land for the Class B offices and warehouses......on a tollroad.......with no evidence of demand...........for apparently years..............with no additional value to tax base. I would settle for just one councilman/councilwoman to ask, "Show me a piece of paper that proves there is a market for Class B office space and warehouse space in Rowlett over the next 10 years." See if it adds up to what we're throwing on the trash pile.