"In a community you have all kinds of needs and we're trying to meet both ends of the market," says Daune Brewer, Dalhart Federal Savings
The real estate market is booming in Dalhart - both with new home construction and renovating old homes. NewsChannel 10's Marissa Bagg reports on how the renovations are revitalizing the city.
Investors are breathing new life into downtown Dalhart by taking homes that have been vacant for years, and turning them into attractive spots to live.
"A lot of homes that were empty we're hitting the price range that's affordable and as soon as we have them fixed up they're sold," says Kenny Welch, who is working to fix up old homes in town.
New job opportunities at the Hilmar cheese plant, and other businesses moving into town have boosted the demand for homes and rentals.
"Rental properties we're maintaining 95% to 100% full so I feel the impact," says Welch.
"Dalhart is really booming, people are moving in from all different areas," says Kelly Welch, who works for Ctex Mortgage Financial Group.
This home is the next project for the Welches. They bought it for a mere $15,000, and by the time its ready to sell, will be quite the upgrade.
"Each block that has an eyesore, if we can refurbish them it ups the value for the whole block," says Kenny Welch.
And on the east side of town, new homes are being built so people moving to the area have options.
"When you have a shortage of housing, used houses get overprices. But as we build and put new houses on the marketplace that has a way of equaling out. Right now we're going to need some new housing and that's what it's all about," says Duane Brewer, with the Dalhart Federal Savings and Loan Association.
Upwards of 70 homes will be built in the area. Anywhere from $70,000 to $200,000 a piece.
"In a community you have all kinds of needs and we're trying to meet both ends of the market," says Brewer.
And with new construction and renovations, welch says the housing market has no where to go but up.
"I've lived here my whole life and this is the first time I've seen value of property go up, people moving in, it's pretty exciting for the city of Dalhart," says Kenny Welch.
After only four months in business, the Ctex Mortgage Financial Group has more than 200 customers, all who were opening mortgages or loans in town.
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