| day the news brings more indicators that the | | | | - That breaks down to approximately $299 per |
| economic recession is lifting. Nowhere is this more | | | | square foot. |
| evident than in the real estate market. Sales numbers | | | | Obviously, the real estate market in the Park Cities |
| for single-family homes are steadily increasing in key | | | | (and specifically in University Park) has not only held |
| geographic regions around the country. One of these | | | | its value during the recession, but is now seeing |
| areas, the Dallas-Fort Worth Metroplex in North | | | | steady and significant improvement. Back in June, |
| Texas, offers buyers attractive opportunities in small, | | | | sales were up 56%, so according to the latest |
| stable suburban enclaves like University Park. | | | | statistics, that’s a 10% rate of growth in just |
| Technically a “suburb” of Dallas, | | | | one month. |
| University Park is just a short drive from downtown. | | | | ** Why Are People Buying in University Park? ** |
| It’s a college town inside the third largest city | | | | Simply put, the fear is passing and real estate |
| in Texas (and the fifth largest in the United States.) | | | | customers are realizing it’s a buyer’s |
| Municipalities like University Park represent a large | | | | market. Thirty-year fixed conventional loans currently |
| part of why the Metroplex is a major draw for | | | | carry an interest rate of roughly 4.3 percent, while |
| families who want to relocate to Texas and who are | | | | 15-year fixed jumbo loans are at approximately 4.5 |
| considering buying a home or leasing property. | | | | percent. |
| ** Why Relocate to Dallas? ** | | | | There are significant buying opportunities for |
| Texas has survived the recession in much stronger | | | | relocation to Dallas, and University Park stands out as |
| condition than other areas of the country. The state | | | | a suburb within the city. With prime access to |
| has a lower than average number of foreclosures | | | | downtown, University Park has architecturally |
| and has kept its unemployment level hovering at 8% | | | | attractive homes (many in the Spanish colonial style) |
| while nationally Americans have grappled with a 10% | | | | and beautiful parks. The local government uses as |
| jobless rate. Additionally: | | | | pay-as-you-go policy, which helps to regulate utility |
| - Texas has the fastest growing economy in the | | | | rates and taxes, and citizens benefit from a |
| nation. | | | | community policing philosophy. |
| - The Dallas-Fort Worth Metroplex leads the country | | | | ** Superior Access to Education and Cultural Venues |
| in population growth. | | | | ** |
| - According to Dallas is the number one city for | | | | University Park families are served by the acclaimed |
| relocation. | | | | Highland Park Independent School District. Seven of |
| The North Texas region is rapidly evolving as a | | | | its campuses have received an |
| technology center, with more than 233,000 tech | | | | “exemplary” rating from the Texas |
| workers currently employed in Dallas. That’s | | | | Education Agency. The area is also home to Southern |
| more than Austin and Houston combined. The | | | | Methodist University, which provides additional |
| Metroplex is home to major companies including | | | | educational and cultural venues. (The university is also |
| Research in Motion (the manufacturer of BlackBerry | | | | the future site of the George W. Bush presidential |
| smartphones), Raytheon, Lockheed Martin, and | | | | library.) |
| AT&T. | | | | In downtown Dallas, residents have easy access to |
| ** What About University Park Specifically? ** | | | | the Morton H. Myerson Center, where both the Dallas |
| On August 2, 2010 the Texas Association of Realtors | | | | Opera and the Dallas Symphony are headquartered. |
| released figures indicating that home sales in the | | | | The urban arts district includes nine museums, |
| state rose for the third consecutive period, with | | | | anchored by the the museums of Natural History and |
| single family-home sales up 14% over the second | | | | Art as well as the Nasher Sculpture Center. All told, |
| quarter of 2009. | | | | the city owns 115 public works of art. |
| Specifically in the Dallas area, sales are up 12.38%. | | | | ** Strong Case for Relocating to Dallas ** |
| University Park and neighboring Highland Park (lumped | | | | Basically, all the numbers are working in North Texas. |
| together and known as the Park Cities) are faring | | | | Both the region and the state are experiencing a |
| particularly well in this climate. According to figures | | | | strong economic surge. The Dallas-Fort Worth |
| published by the Dallas Morning News concurrent with | | | | Metroplex has a solid and expanding job base, and |
| the TAR statement: | | | | properties in prime suburbs like University Park have |
| - There are 364 homes for sale in the Park Cities. | | | | retained their value through the recession. Now is the |
| - Sales in the area, which is five miles north of | | | | time to consider acquiring a home in University Park |
| downtown, are up 66%. | | | | because all the factors come down strongly in favor |
| - The median sales price for a home in the | | | | of the buyer. |
| municipalities is $849,000. | | | | |