Showing posts from February, 2016

The Impact of Zoning on Property Values

How important is the zoning of a property?  When an appraisal is performed on a property whether the property is residential or commercial, a part of the appraisal process is to determine the zoning of a property.  Then an appraiser determines if the zoning is considered to be a legal use, an illegal use, a legal nonconforming use (grandfathered use), or if there is no zoning at all.

What is Zoning?  Zoning is defined as:  The public regulation of the character and extent of real estate use through police power; accomplished by establishing districts or areas with uniform restrictions relating to improvements; structural height, area, and bulk; density of population; and other aspects of the use and development of private property.   (The Dictionary of Real Estate Appraisal, 4th Edition)  
There are various types of zoning:  Single- Family ResidentialMultifamily ResidentialPlanned Unit DevelopmentCommercialIndustrialMixed-UsePublic Building FacilityAirport
Some cities have zoning maps…

Market Update for Collin and Denton Counties

The North Texas markets have been experiencing population growth, especially the Collin and Denton County markets.  Collin and Denton County are neighboring counties north of Dallas and Tarrant counties in the DFW area.  The population of Collin County has increased 71% since 2000 with a current estimated population of 854,778.  The popluation of Denton County has increased 66% since 2000 with a current estimated population of 728,799 (US Census Data).  Toyota is relocating its North American Headquarters to Collin County , in fact the construction is currently under way and is set for completion by early 2017 bringing 4,000 jobs to North Texas..   In addition , Liberty Mutual is bringing 5,000 to Collin County by 2017 and construction is currently under way.   Last month JP Morgan Chase Bank announced that it will be moving 6,000 employees to a Plano's Legacy West development.  Just those three employers brings 15,000 jobs to Collin County alone Growth is here and projected for …