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Posts Tagged Fort Worth

Spotlight on: Fort Worth’s Westside Neighborhoods

May 10

Posted by admin in Real Estate

Fort Worth is known for many things, and it’s diverse and dynamic neighborhoods are certainly one of them. From its quaint roots, steeped in history, to its urban landscape and rich framework of culture, entertainment and excellent quality of life, Fort Worth is a city built on tradition and poised for excellent growth. Perhaps the one area that best reflects the progressive nature of Fort Worth is its Westside neighborhoods. These neighborhoods boast beautiful architecture, excellent Fort Worth real estate, family-friendly surroundings and a superb proximity to nearly all points throughout the city. It is no wonder, then, that many of Fort Worth’s Westside neighborhoods are highly sought after by Fort Worth residents looking for excellent Fort Worth real estate.

With Fort Worth real estate in particular, the neighborhoods of Westside are sure to please. Here are our picks for the best neighborhoods in this exciting area of Fort Worth:

Beautiful, two-story Period Revival homes dot the landscape of Arlington Heights, as do smaller, one-story bungalows. There are many historically significant homes in this section of Fort Worth; in fact, there are currently 53 structures listed in the Tarrant County Historic Resources Survey by the Historic Preservation Council for Tarrant County. The surroundings of this neighborhood are quite quaint, as most of the homes are framed by tree-lined streets, wide sidewalks and vintage streetlamps. There has been much enthusiasm as of late about Arlington Heights because of the outstanding revitalization efforts taking place there.

Beautiful, towering trees provide a lovely backdrop to the homes of Crestwood. Because of the rich, river-soaked soil found here, it is common to see breathtaking lawns and landscapes. Crestwood displays a nice variety of Fort Worth real estate, from small, modest bungalows to larger, Period Revival homes. This community boasts a strong sense of community, as is apparent in its crime watch, monthly newsletter and many community activities.

Linwood is a unique example of residential and commercial Fort Worth real estate blending well together. Most of the homes in Linwood are smaller, one-story framed homes. There are also some commercial buildings and apartment complexes in this area.

Mira Vista is a prestigious, gated community that boasts such features as a manned front gate, picturesque lakes and, of course, a rolling golf course. The country club and pool are the main draw to this upscale community, and it’s not uncommon to see larger garden homes and even stately mansions.

Secluded and serene best describe Westover Hills. From its quiet, tree-lined streets to its stately homes set upon beautifully manicured lawns, Westover Hills is a fine example of some of the superb Fort Worth real estate available in this area. Most of the homes in Westover Hills are custom built, and there are many prominent families who have called Westover Hills home over the years. There are also currently 30 structures in Westover Hills that are listed by the Historic Preservation Council for Tarrant County.

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Why Demand for New Homes in the Dallas-Fort Worth Real Estate Market Grows

Mar 3

Posted by admin in Finance, Real Estate

For three, consecutive years, Dallas-Fort Worth builders have sold more homes than they’ve built. It seems quite odd, but it’s true. As the recession took hold and the regional and national real estate started its downward spiral, many of the area’s builders simply stopped building. As a result, new home numbers have steadily declined and, when the first of the year rolls around, there may be few, new homes from which to choose. Industry analysts expect that many of the area’s builders will need to increase their new home output by 30 to 40 percent just to keep up with their current sales pace.

Many of the region’s real estate agents have seen a steady demand for new homes, but new home construction has backed way off, creating quite a predicament for the better part of next year. In fact, during the last, two years, builders in North Texas have sold nearly 13,000 more homes than they have built. As a result, the inventory of new homes in this area has fallen below 5,000; that’s just a short, three-month supply. Other areas across the country, in contrast, have about a seven-month supply of new homes.

Much of the discrepancy between new homes that have been sold versus built lies with the new homeowner tax credit. This tax credit has resulted in the sale of thousands of new homes, thereby leaving very few new homes still on the market. Many builders are still concerned about the funding requirements for new home construction. In addition, many of the area’s builders, including Bill Darling, are not able to secure funding to build more homes. In fact, many of the area’s homebuilders know that they could sell new homes if they were just able to secure the capital to do so.

Unless a homebuilder has a strong relationship with a local lender, lines of credit are nearly impossible to come by. Darling now estimates that nearly 70 percent of the homes he builds are already sold. With credit lines cut for homebuilders and lower prices and tax incentives for buyers, it’s no wonder why the inventory has fallen to such a low level.

However, when the lending sector loosens its grip on lines of credit, many of the area’s builders may soon be experiencing an influx of new home sales. That’s great for homebuyers in the Dallas-Fort Worth area; and even better for the real estate sector and the economy as a whole.

Now, the question is: how fast can the area’s home builders keep up with the demand, especially as the new year quickly approaches?

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