Whether you’re a lifelong resident or new to the area, there’s always something new to discover about your neighborhood. With that in mind, we created a Fast Facts sheet for cities and neighborhoods all over the DFW area. Our DFW Area fast facts have detailed real estate insights, things to do, places to shop and some of our favorite restaurants in each area.
Southlake is an upscale city known for its luxurious homes, exceptional schools, and high-end shopping destinations. With its meticulously manicured neighborhoods and a strong emphasis on quality of life, Southlake offers residents a blend of sophistication and suburban comfort. The city’s thriving community spirit, beautiful parks, and recreational amenities make it a desirable place to live for those seeking an affluent and family-friendly environment.
POPULATION
31K
AVERAGE HOUSEHOLD INCOME
$293K
MEDIAN AGE
42
HOUSING
95% OWN 5% RENT
AVERAGE SALES PRICE
$1.5M
AREA ACTIVITIES & FEATURES
• BICENTENNIAL PARK • BOB JONES NATURE CENTER • LAKE GRAPEVINE • MARSHALL CREEK RANCH • WIDOWMAKER TRAIL RIDES • SOUTHLAKE TOWN SQUARE | SHOPPING & DINING • STUDIO ART HOUSE • LIBERTY PARK AT SHELTONWOOD
When it comes to real estate transactions, few documents are as important as the title commitment. This essential document, provided by the title company, serves as a roadmap for all parties involved, outlining the state of the property’s title and highlighting any potential issues that may need to be addressed before closing. At Republic Title, we understand that the title commitment can seem complex and daunting, but we’re here to simplify the process and ensure that your transaction proceeds smoothly.
In this article, we’ll break down the components of a title commitment, explain their significance, and highlight why choosing Republic Title as your trusted partner can make all the difference in your real estate journey.
What Is a Title Commitment?
A title commitment outlines the conditions under which a title insurance company will issue a title insurance policy. It discloses the current state of the title to the property, listing any liens, defects, or obligations that may affect the property’s ownership. The commitment is a crucial part of the due diligence process, providing transparency and protecting all parties involved in the transaction.
The title commitment is comprised of sections, known as Schedules A, B, C, and D. Each of these schedules serves a specific purpose, offering detailed information that is important to the successful completion of the transaction.
Schedule A: Actual Facts
Schedule A is often referred to as the “Who, What, Where, and How Much” section of the title commitment. It contains the key facts about the transaction, including:
The names of the proposed insured (buyer) and the current record owner (seller)
A legal description of the property
The sales price
The name of the lender, if applicable
This section is important because it ensures that all the basic details of the transaction are accurate and align with the terms of the contract. At Republic Title, we recommend that all parties carefully review Schedule A to confirm that the information is correct. If any discrepancies are found, it’s essential to address them promptly with your title company to avoid delays.
Schedule B: Buyer Notification
Schedule B lists the general and specific exceptions to the property that may limit a buyer’s use of the property or give others the right to use all or a portion of the property. The buyer takes the property subject to these exceptions and they are not covered by the title insurance policy. This section may include:
Survey matters
Property taxes
Easements
Building setback lines
Mineral or Oil and Gas reservations or leases
Other restrictions or encumbrances
This section is critical because it informs the buyer of any potential issues or obligations that could affect their ownership of the property. Understanding these exceptions is key to making an informed decision.
Schedule C: Clear In Order To Close
Schedule C outlines any issues that must be resolved before the title can be transferred to the new owner. These issues, known as “clear to close” items, might include:
Existing mortgages that need to be paid off
Liens for home improvements
Unpaid taxes or other obligations that could include Abstracts of Judgement, State or Federal Tax Liens or Child Support Liens among other things.
Probate, Divorce or other legal proceedings
All items listed in Schedule C must be addressed and cleared before closing can proceed. Republic Title is dedicated to helping you resolve these issues efficiently, ensuring that your transaction stays on track and that you can close on your property without unnecessary delays.
Schedule D: Disclosure
Schedule D provides transparency regarding the amount of the title insurance premium as well as ownership of the title company and details all parties who will share in the insurance premium collected to issue the policy. This section typically includes:
Officers of the Underwriter and Title Agent
A title commitment is a vital document that plays a crucial role in the success of any real estate transaction. By understanding its components and working with a trusted title company like Republic Title, you can ensure that your transaction proceeds smoothly and without unexpected surprises. From verifying the accuracy of Schedule A to clearing any issues on Schedule C, Republic Title is here to guide you every step of the way. Whether you’re a first-time homebuyer, a seasoned investor, or a real estate professional, Republic Title is your go-to resource for proven experience and dedicated service. For more information, visit republictitle.com.
July saw an increase in home sales and a sharp rise in building permits. The previous month’s decline was partly due to fewer business days, which led to a spillover of activity in July. New listings fell almost 10 percent, but active listings fell by less than 1 percent, possibly due to the counteracting increase in sales for the month.
Home Sales Take Major Jump in July
Texas bounced back over June’s low sales with a 15.4 percent month-over-month (MOM) increase in seasonally adjusted home sales in July, resulting in 27,049 homes sold (Table 1). Houston experienced the largest increase among the Big Four at 21.7 percent (7,500), followed by Dallas (7,595) and San Antonio (2,807), which increased by 18.1 and 16.2 percent, respectively. Austin had the lowest sales change of the Big Four with a 13.9 percent increase, resulting in 2,378 homes sold in July.
New listings fell by more than 4,000, a 9.8 percent drop from June. Houston, with 9,739 listings representing a 24.7 percent drop, was a major contributor to this decline, followed by Austin with 2,853 listings (18.8 percent drop). San Antonio (4,041) and Dallas (9,774) also experienced similar declines of 14 and 12 percent, respectively. Overall, the Big Four is seeing a downward shift in new listings that had been on the rise until April 2024, when they hit their high for the year so far.
The state’s average days on market (DOM) remained unchanged at 59 days in July. San Antonio had the largest decrease—73 to 71 days, a 2 percent decline. Similarly, Austin dropped from 68 to 67 days. Dallas and Houston, on the other hand, have not shown any major changes.
Texas’ number of active listings went down from 116,335 to 115,865 (0.4 percent). Active listings across the Big Four were mixed in July with Dallas, San Antonio, and Austin increasing by 4.7 percent (26,013), 2.4 percent (13,907), and 2 percent (11,426), respectively, while Houston fell 8.5 percent (27,503).
Statewide pending listings in Texas have been on the decline since earlier this year with 4,292 fewer pending listings in July than in February, when they peaked at 29,274. San Antonio and Houston had the highest declines—8.4 percent (to a current 2,515) and 7 percent (6,686), respectively. Dallas had a smaller decline of 2.9 percent (6,837) while Austin (2,355) hasn’t had any major changes.
Interest Rates Dip Slightly
Treasury and mortgage rates both declined in July but as a slower rate than the month before. The average ten-year U.S. Treasury Bond yield fell 6 basis points to 4.25 percent. The Federal Home Loan Mortgage Corporation’s 30-year fixed-rate fell by 7 basis points to 6.85 percent.
Single-Family Permits Bounce Back, but Starts Fall
Texas’ monthly building permits bounced back in July, increasing 26.3 percent MOM after dropping 19 percent in June. All Big Four metros had growth except for San Antonio, which fell by 12.3 percent. Austin and Dallas grew the most at 28.3 percent and 71 percent, respectively. Both almost reached the April high point. Houston, however, failed to grow at the same rate as the others, rising only 6 percent.
Single-family construction starts have been on the decline since March 2024. Seasonally adjusted statewide single-family starts decreased by 4.3 percent MOM to 12,542 units. The Big Four have been in decline with Houston leading at 12 percent, San Antonio at 6 percent, and Dallas at 1.8 percent. Austin has been relatively steady with only a 1 percent fall.
The state’s total value of single-family starts climbed from $17.39 billion in July 2023 to $22.91 billion in July 2024. Houston accounted for 35.7 percent of the state’s total starts value followed by Dallas with 27.1 percent.
Home Price Increase Slightly
Texas’ median home price rose 1.4 percent MOM in July from $332,866 to $337,382. Houston rose by 1.5 percent at $341,283 while San Antonio rose by 1 percent at $311,140. Austin rose by 0.3 percent. Dallas was the only one among the Big Four that had a slight decline of 0.3 percent.
The Texas Repeat Sales Home Price Index (Jan 2005=100), which is a more accurate reflection of home price changes, fell 0.3 percent MOM in July but increased 1.4 percent year over year (YOY). Austin’s annual appreciation remains below the state’s average and fell by 3.2 percent YOY in July.
Fraudsters are impersonating property owners to illegally sell commercial or residential property. Fraudsters are using the real property owner’s Social Security and driver’s license numbers in the transaction, as well as legitimate notary credentials, which may be applied without the notary’s knowledge. The criminals are highly sophisticated and hard to detect if you are not vigilant.
REALTORS® can be a huge part of the solution if they know the red flags to look for and understand how important their role is.
Property and Seller Red Flags to Watch Out For – Vacant or non-owner occupied ( such as investment, vacation or rental property) – The owner’s mailing address on the tax roll is different than the property address – Property has no outstanding mortgage or liens – Property is being listed for a price below market value – Seller demands a quick sale with a cash buyer & the proceeds to be wired to an out of state or out of the country bank – Seller refuses to attend closing & claims to be out of the state or country – Seller is difficult to contact & will only communicate by text or email – Seller refuses or is unable to complete multi-factor authentication or identity verification – Seller wants to use their own notary – Seller has an area code that is unrecognizable or foreign
VERIFY THE SELLER’S IDENTITY
• Get a copy of 2 forms of ID • Ask questions about the property that are not available in public records • Conduct additional due diligence as needed
USE PUBLIC RECORDS
• Get a copy of 2 forms of ID • Ask questions about the property that are not available in public records • Conduct additional due diligence as needed
WHERE TO GO FOR FRAUD INFO & REPORTING
• FBI: ic3.fbi • Secret Service: secretservice.gov • FTC: reportfraud.ftc.gov • Also check with local State law enforcement, Attorney General and/or the Secretary of State for more information & notary violations.
We’re excited to announce the release of the 2024 Commercial Endorsement Guide, your go-to resource for the top ALTA commercial endorsements. This guide is now available in both printed and digital formats, ensuring that you have the flexibility to access the information you need, whenever and wherever you need it.
What’s New in the 2024 Guide?
Interactive Digital Flipbook: The digital version of our guide is designed as an easy-to-navigate flipbook. You can quickly access a clickable list of top commercial endorsements and perform keyword searches to find exactly what you’re looking for. The flipbook is linked here for your convenience.
Alignment with 2021 Policy Forms: All endorsements in the guide are related to the 2021 Owners and Loan Policy forms.
New Endorsements: We’ve included new ALTA 10.2 and 10.3 endorsements.
Revised Endorsements: The guide also features updated endorsements, including the ALTA 3.3, ALTA 14 series, and ALTA 42.
Whether you prefer the tactile experience of a printed guide or the convenience of a digital one, the 2024 Commercial Endorsement Guide is designed to make your work easier and more efficient. Access it today and ensure you have the best tools at your disposal for your commercial transactions.
Whether you’re a lifelong resident or new to the area, there’s always something new to discover about your neighborhood. With that in mind, we created a Fast Facts sheet for cities and neighborhoods all over the DFW area. Our DFW Area fast facts have detailed real estate insights, things to do, places to shop and some of our favorite restaurants in each area.
Saginaw, Texas, is a vibrant suburban city located in Tarrant County, just northwest of Fort Worth. Known for its friendly community atmosphere and family-oriented environment, Saginaw offers a range of amenities including parks, schools, and local businesses. The city combines a small-town feel with convenient access to the larger urban areas of the Dallas-Fort Worth metroplex, making it an attractive place for residents seeking a balanced lifestyle.
POPULATION
24K
AVERAGE HOUSEHOLD INCOME
$96K
MEDIAN AGE
37
HOUSING
73% OWN 27% RENT
AVERAGE SALES PRICE
$310K
AREA ACTIVITIES & FEATURES
• FORT WORTH STOCKYARDS • EAGLE MOUNTAIN LAKE • LAKE WORTH • GOLF RESORT ON EAGLE MOUNTAIN LAKE • SWITCHYARD FOOD TRUCK PARK • SAGINAW FARMERS MARKET • SAGINAW MAIN STREET PARK • SAGINAW AQUATIC CENTER • SAGINAW HERITAGE SQUARE • GOLF CLUB AT FOSSIL CREEK • LINKS ON THE LAKE | DISC GOLF COURSE
FAVORITE LOCAL DINING & DRINK SPOTS
• FAMOUS DAVE’S BAR-B-QUE • JAKES OLD CITY GRILL • • THE SCOTTISH INN • TEXAS PIT BBQ • SAGINAW NUTRITION • HARVEY’S GRILL & BAR • RETRO ROCKS • • ARTISAN URBAN BISTRO • EL SOMBRERO • EAGLE’S POINT BAR & GRILL • JOE’S PIZZA & PASTA • JR’S CAFÉ OF SAGINAW • THE LAKEHOUSE • BAD AZZ BURRITOS • TASTY STEAKS • CHINA FLAG • GUISO MEXICAN KITCHEN • EL MIL TACOS • PHO REAL • BLUE MOUND CAFE • SALSAZON • • CHARLEYS CHEESESTEAKS • BLUE 32 •
FAVORITE LOCAL SHOPPING
• RHINESTONE RANCH BOUTIQUE • WHATCHA WHIPPING CANDLE CO • SAGINAW SCENTS • ALLIANCE TOWN CENTER • • RIDGLEA SHOPPING CENTER • HULEN MALL •
AVERAGE DRIVE TIMES
• DOWNTOWN DALLAS | 60 MINUTES • DALLAS LOVE FIELD AIRPORT | 45 MINUTES • DFW INTERNATIONAL AIRPORT | 25 MINUTES • AT&T STADIUM & GLOBE LIFE FIELD | 40 MINUTES • DOWNTOWN FORT WORTH | 20 MINUTES
In July 2024, the real estate market in the DFW Metroplex displayed varied trends across different counties. Overall, the DFW Metroplex saw a mix of rising listing activity and extended market times, with some counties experiencing price growth while others faced slight declines in sales.
Collin County saw significant activity, with new listings increasing by 27% and active listings surging by 46.1%. The days on market (DOM) rose to 39 days, marking a 25% increase from the prior year. The average sales price was approximately $580K, slightly down by 1.4%, while the average price per square foot rose by 1.3% to $228. Closed sales increased marginally by 1.2%, reaching 1,452 units.
In Dallas County, new listings grew by 14.9%, and active listings by 42.2%. The DOM increased to 37 days, up over 27% from the previous year. The average sales price rose by 8.7% to $575K, with the price per square foot also seeing a rise of 2.1% to $241. However, closed sales declined by 3.3%, totaling 1,797 units.
Denton County followed a similar trend, with new listings up by 11.9% and active listings by 26.8%. The DOM was 39 days, up 8.3% from the previous year. The average sales price increased by 1.5% to $578K, and the price per square foot rose slightly by 0.5% to $223. Closed sales remained nearly flat, with a slight decrease of 0.1%, ending at 1,274 units.
Rockwall County experienced a modest increase in new listings by 6.2% and active listings by 31.7%. However, the DOM rose significantly to 60 days, an increase of over 33% from the prior year. The average sales price increased by 11% to $537K, while the price per square foot went up by 3.7% to $197. Closed sales dropped notably by 17.5%, totaling 179 units.
In Tarrant County, new listings increased by 11.9%, and active listings by 30.5%. The DOM was 40 days, a 25% increase from the previous year. The average sales price was $454K, with the price per square foot at $201. Closed sales saw a slight rise of 2.1%, reaching 2,054 units.
Our stats infographics include a year over year comparison and area highlights for single family homes broken down by county. We encourage you to share these infographics and video with your sphere.
We are proud to announce that we have won the Readers’ Choice award by Living Magazine for Best Title Company in Coppell & North Irving, Frisco & Plano, Keller, McKinney & Allen, Prosper & Celina, and Richardson & Murphy! Thank you to our valued customers for trusting us with your title and escrow needs. To see all the 2024 winners visit: livingmagazine.net
Whether you’re a lifelong resident or new to the area, there’s always something new to discover about your neighborhood. With that in mind, we created a Fast Facts sheet for cities and neighborhoods all over the DFW area. Our DFW Area fast facts have detailed real estate insights, things to do, places to shop and some of our favorite restaurants in each area.
Sachse, Texas, is a growing suburban community located in the Dallas-Fort Worth metroplex. Known for its friendly atmosphere and family-oriented environment, Sachse offers a blend of modern amenities and a small-town charm. The city features well-maintained parks, recreational facilities, and community events, making it an appealing place for residents who appreciate a balanced and active lifestyle.
POPULATION
31K
AVERAGE HOUSEHOLD INCOME
$143K
MEDIAN AGE
42
HOUSING
91% OWN 9% RENT
AVERAGE SALES PRICE
$467K
AREA ACTIVITIES & FEATURES
• SACHSE HISTORICAL SOCIETY MUSEUM • MUDDY CREEK NATURE RESERVE • SACHSE PUBLIC LIBRARY • JOE J. AND PATRICIA D. STONE PARK • HAPIK DALLAS FIREWHEEL • SALMON PARK
FAVORITE LOCAL DINING & DRINK SPOTS
• SACHSE ICE HOUSE • BOP JOA • FRANKIE’S MEXICAN CUISINE • OSAKA HIBACHI SUSHI AND BAR • WOODBRIDGE CAFÉ • THE BRASS TAP • PRIMO BROTHERS PIZZA • • PHO STATION • DOUGH GOURMET PIZZA • THE FILLMORE PUB • TAQUERIA GUANAJUATO • YE SHIRE TAVERN • • MR. PIDE • PANDA CHEF • GYROS & KABOBS • THE TIPSY CHICKEN • MANNY’S TEX-MEX • SACHSE NUTRITION •
FAVORITE LOCAL SHOPPING
• FIREWHEEL TOWN CENTER • LAVISH REALM • ALLEN PREMIUM OUTLETS • AESTHETIC BOUTIQUE •
AVERAGE DRIVE TIMES
• DOWNTOWN DALLAS | 35 MINUTES • DALLAS LOVE FIELD AIRPORT | 40 MINUTES • DFW INTERNATIONAL AIRPORT | 35 MINUTES • AT&T STADIUM & GLOBE LIFE FIELD | 45 MINUTES • DOWNTOWN FORT WORTH | 60 MINUTES
Housing activity for both new and existing homes decreased considerably in June. Growth in active listings resulted in downward pressure on home prices. Seasonally adjusted home prices dipped 1.5 percent, which is uncharacteristic for June when housing activity normally peaks for the year.
Home Sales Take Major Downhill Slide in June
Texas witnessed a 14.2 percent month over month (MOM) decrease in seasonally adjusted home sales in June, resulting in 23,791 homes sold (Table 1). Dallas experienced the largest decrease among the Big Four at 16.8 percent (6,571) followed by Houston (6,474) and Austin (2,299), which each fell by 14.5 percent. The decline in San Antonio was relatively minimal, at 13 percent (2,587). As of June, year-to-date home sales are at the same levels as last year.
Recent data indicate a shift in new listings following a period of steady growth, notably led by Austin among the major metropolitan areas, which experienced a 13.6 percent decline to 3,513 listings. While all Big Four cities saw decreases, Austin’s decline was the most pronounced. Houston and San Antonio saw reductions of 3.8 percent (12,919 listings) and 2.4 percent (4,692 listings), respectively. Dallas exhibited the least variation, with a modest decrease of 1.2 percent (10,852 listings).
The state’s average days on market (DOM) increased from 57 to 59. Austin and Houston each increased by three days and are currently at 68 and 50 days, respectively. San Antonio and Dallas each increased by two days. San Antonio had the highest days on market among the Big Four with 74 days. Dallas had an average of 51 days. The number of Texas active listings went up from 113,714 to 116,797 (2.7 percent). The active listings across the Big Four were mixed in June with Houston increasing by 15.7 percent (30,179) while Dallas fell 9.7 percent (24,557). San Antonio and Austin had relatively smaller increases of 2.5 percent (13,576) and 0.3 percent (11,407), respectively.
Statewide pending listings in Texas have been on a decline since February with only a slight increase of 0.3 percent in June. San Antonio and Dallas both decreased by 10 percent and are currently at 2,459 and 6,493, respectively. Houston and Austin increased by 8 percent (7,592) and 4 percent (2,464), respectively. The slowdown in sales and pending listings in San Antonio and Dallas have contributed to their higher-than-normal active listing count.
Interest Rates Dip Slightly
Treasury and mortgage rates both declined in the month of June but was not enough to positively influence housing sales. The average ten-year U.S. Treasury Bond yield fell 17 basis points to 4.31 percent. The Federal Home Loan Mortgage Corporation’s 30-year fixed-rate fell by 14 basis points to 6.92 percent.
Single-Family Permits Follow Sales Decline
Texas state monthly building permits plummeted 18.9 percent MOM in June reaching 10,977. The Big Four faced a comprehensive decline to varying degrees. The decrease in Austin was the most significant, reaching 30.1 percent. Dallas also experienced a substantial drop, with a decrease of 20.1 percent. Houston and San Antonio had smaller declines of 7.1 and 7.7 percent, respectively.
Single-family construction starts also declined but to a much lesser degree according to data from Dodge Construction Network. Seasonally adjusted statewide single-family starts decreased by 0.3 percent MOM to 13,198 units. Austin had a slower month for permits with a decline of 3.2 percent. DFW actually increased 2.8 percent over May, reaching 3,566 starts. Houston and San Antonio had a slight increase of 0.4 and 0.1 percent, respectively.
The state’s total value of single-family starts climbed from $14.68 billion in June 2023 to $20.06 billion in June 2024. Houston accounted for 36.3 percent of the state’s total starts value followed by Dallas with 26.8 percent.
Home Price Declines
Texas’ median home price fell by 1.5 percent MOM in June with an overall decline in the Big Four areas (Table 2). Houston, San Antonio, and Austin each declined by less than one percent. Dallas experienced the largest decline, with a drop of 1.7 percent, surpassing the overall state decline. For a better understanding of repeat sales from the median approach, see Texas Home Price Index Explained – REC 101.
The Texas Repeat Sales Home Price Index (Jan 2005=100), which is a more accurate reflection of home price changes, fell 0.4 percent MOM in June but increased 1.4 percent year over year (YOY). Austin’s annual appreciation remains below the state’s average and fell by 1.5 percent YOY in June.
