8/10/2008
 (IRVING, TX – August 10, 2008) – Real estate professionals with Coldwell Banker Residential Brokerage – Dallas/Fort Worth (CBDFW) and other agents across the country indicate they are seeing interest in urban and in-town living increasing because of the high cost of gasoline. While 96 percent of the 903 sales associates surveyed report that rising gas and oil prices are a concern to their clients, 78 percent report that higher fuel costs are increasing their desire to consider living in an urban setting.
According to the Coldwell Banker survey, the primary reasons for this interest in urban living are related to work commute and energy-efficient modes of transportation:
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81 percent cite minimizing a reduced work commute as a reason for the interest in urban living
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54 percent agree that access to public transportation is appealing
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75 percent agree that the ability to walk to more places is a positive
“Over the past several years we have seen a boom in downtown living in Dallas, Fort Worth and other North Texas cities,” says Sue Meyer, president and chief operating officer of CBDFW. “It is interesting to note the study showed that 53 percent of Coldwell Banker’s surveyed sales associates have seen an increased interest in urban living compared to five years ago.”
Sandra Melmed, real estate professional in the Previews International Office of CBDFW in Park Cities, helped Mark and Zelda Saxton buy a home in Dallas after deciding to move from the suburb of McKinney. Mr. Saxon used to live in the Bay Area of California and enjoyed the urban lifestyle.
After years of hour long comminutes from McKinney, he was transferred to the United Kingdom for a year.
“After experiencing a commute to work that only lasted several minutes, I wanted to experience the same when I returned back to Dallas looking for a home,” says Ms. Saxton. “Sandra and Coldwell Banker helped us discover just that with our new house. We are in the middle of shops, restaurants, only minutes from work and enjoy being in the heart of the city.”
Ned Cammack, Coldwell Banker real estate professional, and Pam Nelms, manager of the Coldwell Banker Previews Office, see an increase in in-town living as well.
“The trend of downtown living is alive and well in Dallas,” says Mr. Cammack. “Several downtown projects have been recently completed or are in the works and interest is great.”
“Locally, while gas prices are increasing interest in downtown homes, we have also seen places like Main Street, Victory Park, Uptown, and other areas as being popular reasons for this trend.”
Coldwell Banker surveyed sales associates who also reported they have seen an 84 percent spike in interest for properties with a home office, as compared to five years ago, indicating a trend towards telecommuting.
To buy or sell real estate in North Texas, contact any of the 19 offices of Coldwell Banker Dallas/Fort worth or visit www.cbdfw.com.
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