Fort Worth Real Estate

• 24Apr

  Fate +17%; Fort Worth +17,000

  Local Stuff No Comments
  Here is an incredibly garbled article from the Business Press. It is a really painful read. The author says Fort Worth had the “top population increase”, and then goes on to say that Mansfield was the fastest in Tarrant County. The icing on the cake is when she says that Fate has the “biggest increase”. Oh good Lord, that’s three different municipalities. So let me decipher what Elizabeth Bassett meant in her article.

  Out of the North Central Texas Council on Governments 16 counties:

  • Fort Worth added the largest number of individuals out of the entire region (+17,400).
  • Mansfield grew by the fastest percentage in Tarrant County (+5.17%)
  • The City of Fate, although very small, had the largest percentage increase in the NCTCOG area. (+17%).

  Whew. It took some squinting and a tiny ounce of logic, but we now understand the FWBP article. I won’t even address the High School English Class nature of this sentence: “Overall, the … region had a population of 6,637,230, an increased [sic] of 92,480 people, as of Jan. 1, 2009, which is the date all the data is for”. I mean I typically just deduce that the stated date (especially when its 1/01/09) represents the end of a subset. Furthermore, I tend to extrapolate that the subset is based on a year prior. Mrs. Bassett didn’t state that the data covers a one year time frame, but I assume it does.

  Interesting numbers on our growth no doubt, but reading this article was a chore. Do they edit? Proofread? Perhaps we could all chip in for an Elementary Statistics Professor to give a short lecture at the Business Press.

• 23Apr

  Fort Worth Joins Socialist Party

  Local Stuff, Residential 1 Comment
  A little over a week ago the city announced a plan to offer funds to people for home purchase and rehabilitation. The Business Press wrote an article about it today. I am not very familiar with it except for what I have heard word of mouth. Apparently the Funds are coming from a HUD grant through the 2008 Economic Recovery Act. Yes, this was under Bush, before you even get started. And yes, Bush was a terrible “small-government” president also.

  • I believe your income has to be under $49,000.00 to be elligable.
  • It is only applicable to certain zip codes around town.
  • $15,000.00 can be applied to down payment
  • The effort is supposed to revitalize neighborhoods

  If you stick around (primary residence) for a decade they will forgive the loan.

  Happy Socialism.

  

• 23Apr

  DFW Top Rental Investment Market

  Residential 1 Comment

  I can’t say that I am to surprised, but it is worth noting that Business Week ranked Dallas Fort Worth Real Estate as being the most cost effective investment area. If you can afford to leverage yourself into properties as a rental investment, DFW is a fantastic market. In just the last few years we have seen significant increases of foreign investment within the local market. By foreign I mean places like California, Arizona, Nevada, and Hawaii. It becomes a logical move not only as wise investors realize that their local markets are overvalued, but also as they realized gains from those markets pre-collapse, and sought undervalued properties.

  Still though, you don’t have to be from Arizona to invest in DFW. Rates coming down is certainly assisting anyone looking to invest. Property values also tend toward favoring the buyers, and it may be a more attractive vehicle than the equity markets. Consider for a moment that the median rent in DFW is $720.00 while the Median Unit price is $30,000.00. These are exceptionally favorable numbers for investment. The vacancy rates locally are only about 7.6%, and we could expect any declines to flatten out as we head into 2010. All in all there is something to be said for the ability to cashflow a note and slowly build equity at the same time; any reasonable investor could expect to have profited nicely by the time the market returns to normal.

• 22Apr

  Earth Day in Fort Worth

  Commercial, Local Stuff No Comments

  It’s Earth day. I don’t really care much. I was surprised by W&C’s call for limitation on Barnett Talk; tiring of the old dead horse makes me happy. Someone brought up a good point that a lot of our lights are not synced up. Truely is very annoying.

  I noticed that Wal-Mart is doubling its solar panel usage on stores. Which got me to thinking. What about all those warehouses we have around here. North East Mall has over 1,600,000 square feet under roof; that’s an aweful lot of solar power (37 acres to be more or less). Turns out their property owner, Simon Properties, is starting to dabble in adding solar panels to their roofs.

  Not a bad idea.

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