Bonus Agents – Real Estate

As the revitalization of West Seventh Street rolls along, developers have begun to set their sights on redeveloping the east and southeast portions of Fort Worth. Development in these areas, specifically the Evans-Rosedale and Sierra Vista communities, has been non-existent in recent years. Crime that once plagued the area has dissipated, and opportunities can be found for tax incentives and inexpensive land purchases.

Mixed-Use Project Could Boost Evans-Rosedale

The Evans-Rosedale neighborhood could be the site of a new mixed-use development that would combine residential housing, restaurants, and retail. The project would give Fort Worth Real Estate a big boost in this area between East Terrell Avenue and East Rosedale Street along Evans Avenue. No official word has been released yet on when or if the project will move forward, but Cypress Equities is currently under contract to purchase this land from the city of Fort Worth.

Tax Breaks Boost Southern Neighborhoods

South of Evans-Rosedale, construction is underway in an historic neighborhood close to Downtown Fort Worth and the Medical District. Designated as a Neighborhood Empowerment Zone, a five-year tax abatement has made this community desirable to developers.

Terrell Heights, which is located just north of Evans-Rosedale, is also seeing revitalization. New single family homes reminiscent of the early 20^th century are being built, with more construction planned for next year.

As job growth in Fort Worth continues, the redevelopment of Downtown is reaching out into surrounding neighborhoods, bringing much needed upgrades and revitalization to parts of the city that had been all but forgotten in recent years. This is good news for the entire city, as it will only serve to ensure the values of Fort Worth Real Estate remain stable in the coming years.

Fort Worth is a city that believes in planning ahead, and they have had a growth plan in place for over a century. As time passes, the plan is updated to meet the needs of the city, and now they enter their newest phase – a five year plan with some very specific goals in terms of growth and development.

Key Goals for Fort Worth

Fort Worth Real Estate goals entering 2008 include the increase of supply and quality of affordable housing, to expand home ownership opportunities, to revitalize existing Fort Worth neighborhoods, and to create mixed income communities where a certain percentage of housing is available to low or median income families.

The Berry/University neighborhood is a prime example of such a mixed income neighborhood, where 10 percent of the units will be available to families whose incomes are at or below 80 percent of the median income.

Housing Affordability

The affordability of Fort Worth Real Estate is affected by several factors: construction costs, land values, interest rates, and market demand. In recent years, lower mortgage interest rates have made home ownership in Fort Worth a reality for low income and low middle income families.

In general, Fort Worth homes are more affordable than homes in the neighboring city of Dallas or in the nearby community of Arlington. In the first half of 2007, one third of the homes sold in Fort Worth cost $140,000 and up.

There is a limited supply of high-end housing in Fort Worth to serve upper income households, and only a limited number of very high-income buyers.

The City of Fort Worth anticipates a large amount of growth in the coming years, and wants to do everything it can to keep housing affordable and neighborhoods intact in those years of expansion and development.

The community of Grapevine is steeped in history, including the site where the famous villains known as Bonnie and Clyde killed two Texas highway patrol officers in 1934.

The town, originally settled in the 1840’s and 1850’s, had been named after the Wild Mustang grapes that were abundant in the area during that time. Over time, and as the town grew, the Wild Mustang grapes became fewer and fewer. Many people, though, recognized the fertility of Grapevine real estate and its suitability for growing grapes. In recent years, many wineries have sprung up in the area, paying homage to the town’s beginnings.

Taste a Bit of North Texas History

Grapevine real estate once again is producing flourishing vines, and over a dozen wine tasting rooms and wineries can be located throughout this historic town. Many are in the heart of Grapevine, while others can be found on old homesteads spread among acres of gorgeous North Texas countryside.

Each winery offers its own varietals, so it is worthwhile to take the time to visit each one. Many tastings are offered with food samplings, and many of the wineries host themed or special events, maximizing the experience of each visitor.

Grapevine’s wine ambassadors, the Grapevine Wine Pouring Society, can be found at festivals and events within the city, promoting Grapevine’s many wineries throughout the year.

In a land known for its wild frontier days, the elegant wineries of Grapevine masterfully blend a bit of European character with cowboy heritage, providing a truly unique experience for the many tourists who call on Grapevine each year.

Fort Worth Real Estate is getting more environmentally friendly thanks to Dallas-based developer Cawley Wilcox. They have broken ground on an office building in west Fort Worth that incorporates a number of earth-friendly features. The Wilcox Plaza at Green Oaks is set to open in 2009, and has earned ratings as the area’s most energy efficient building.

This three story office complex has been awarded the gold level of LEED certification, and is the first such building in Tarrant County to achieve this mark. LEED, or Leadership in Energy and Environmental Design, is a nationally recognized building standard for environmentally friendly construction.

Wilcox Plaza to Incorporate Energy Friendly Features

Bricks from the historic Green Oaks, which once hosted such famous names as Elvis Presley, will be recycled and used in the new building. Approximately 70 percent of the site’s oak trees will remain, adding shaded open spaces that will help cool the area, as will reflective roof panels and paving materials. Vegetation will be planted that will help clean rainwater runoff, and a ponds will store the runoff for use in irrigation. Solar powered faucets and energy efficient glass top off the energy friendly features.

Overall the measures will cut energy use by 15 percent and reduce water consumption by four million gallons each year, which in turn will lead to substantial savings in the cost for utilities.

The builder plans to continue its energy efficient improvements to Fort Worth Commercial real estate by making a commitment to integrate “green” measures into all of its new construction projects. As energy costs continue to rise, such measures are likely to become standard. Cawley Wilcox has done a great job of setting the standard for others to follow.

Strong job growth in the Fort Worth – Arlington area and the ongoing affordability of homes in the area is expected to keep Arlington real estate strong, according to a report released by PMI. PMI is an insurer of mortgage lenders.

As the economy slows, the Fort Worth – Arlington area is expected to have a less than one percent chance of experiencing any decline in home prices, which is consistent with the rest of the north Texas and Dallas region. Meanwhile, there are many areas of the country that are almost guaranteed to experience drastic drops in home values.

Slow, Sustained Growth has Helped Fort Worth

What has helped keep the real estate market upbeat in Fort Worth and Arlington is the slow, sustained growth these neighborhoods experienced while the rest of the country was booming. Now those areas that skyrocketed in value are paying the price as the market tries to normalize back to the levels home values historically should be at.

In areas such as California, Nevada, and Florida, home prices exploded while job growth fell, and the affordability of homes plummeted. In some areas, only five percent of the population can afford the average home.

In Texas, however, home values have remained very affordable compared to the average income for residents, and job growth has continued at one of the fastest rates in the country. This keeps the demand for real estate high and the values holding steady in a time where others are seeing economic strife.

Overall, the picture for Fort Worth Real Estate and Arlington real estate looks good, and homeowners should take comfort in knowing their home values are expected to hold steady in the coming months.

For one day in April, Arlington residents have the opportunity to clean up their neighborhoods and get rid of unwanted rubbish at no charge. As a means of maintaining your Arlington real estate, anyone with proof of residency can dump unwanted waste at one of three locations. The event will be held on Saturday April 19, and will run from 9 a.m. until 4 p.m.,

Get Rid of All of Your Trash

Nearly any type of household or yard waste other than hazardous materials can be dropped off at the Arlington Sanitary Landfill, Six Flags Hurricane Harbor, or Sam Houston High School.

Allowable items include trash, yard waste, furniture, appliances, car batteries, carpet, lumber, building materials such as sheetrock, chunks of concrete, and up to four car tires per household. Old lawn mowers and barbecue pits that have had the fuel removed will also be accepted.

Items such as paint, pesticides, and motor oil will not be accepted, nor will roofing materials.

Organizers of the event ask that residents separate yard waste, such as tree limbs and brush, from the other trash. Yard waste will be mulched and stored at the Arlington landfill, which is available for Arlington residents at no charge.  

The Event is Free for Arlington Residents

In order to dump your unwanted rubbish, you must be able to provide proof of residency in Arlington by presenting a current driver’s license or a copy of your current water bill. This event is held twice each year, in April and October, and not only ensures rubbish is handled in an environmentally responsible manner, but goes a long ways towards maintaining the beauty and value of Arlington real estate.

As part of the revitalization plan for downtown Arlington, Phase I of the new Center Street Pedestrian Trail is underway. This two-mile trail will help beautify the downtown area, helping to raise the appeal and value of downtown Arlington real estate.

Trail Makes Arlington Pedestrian Friendly

The new trail system will be completed in two phases. With Phase I underway, Phase II is now in the design process.

Phase I will run through downtown and connect with the new Founder’s Plaza, and will provide pedestrian access to the new Levitt Pavilion outdoor amphitheater, which will also open in fall.

Along this two-mile walkway, there will be over a mile of upgraded landscaping to add visual appeal to the area. Seating areas will be available in several locations, as well as interesting information about the city’s history.

Minor inconveniences during the construction process include the closing of access driveways to the Central Library and City Hall. These minor inconveniences should only last a short period of time.

Phase II to Access UT Arlington

When Phase II is built, it will begin south of Founder’s Plaza and connect through UT Arlington, then continue on to Johnson Creek. The completion of the trail will provide greater connectivity among downtown attractions.

In addition to the new trail system, other upgrades to downtown Arlington real estate include upgrades to building fronts of existing businesses, the addition of mixed-use developments, and an expansion of owner-occupied housing to bring new life into the core of this historic city.

The development of new, horizontal drilling has finally made it possible to access the enormous natural gas reserve located under Fort Worth and its surrounding neighborhoods, commonly known as the Barnett Shale. Oil and gas companies are drilling in the area, tapping this huge natural resource. As a result, the companies have been approaching owners of Fort Worth real estate and offering signing bonuses and royalties in exchange for lease agreements for drilling rights. Homeowners are being offered up to $18,000 in signing bonuses and 25 percent royalties for signed lease agreements.

Properties not Always Sold with Mineral Rights

Many neighborhood groups in the Fort Worth area have been forming to negotiate the best lease agreements and royalties for all residents. While homeowners in some areas have already signed lease agreements with energy companies, others are holding off, trying to secure a better deal.

If you are interested in purchasing Fort Worth Real Estate and are hoping to cash in on a lease for drilling rights, check to make sure the property you are interested in comes with mineral rights. These rights may be sold with the property or retained by the seller, which would mean the home buyer would not be entitled to royalty checks.

Keep in mind that many homes in the Fort Worth area are being sold without mineral rights, so securing such rights would seem to be the exception rather than the rule. Also, not every home owner has been approached and offered a lease agreement by the energy companies, so owning a piece of Fort Worth Texas Real Estate would not necessarily guarantee profits from the Barnett Shale.

The safety of Keller Real Estate gets a boost as local teenagers work in partnership with the Keller police department. Their goal is to make the streets of Hidden Lakes safer for everyone living in this Keller neighborhood.

Interested teenagers aged 15 years and older learn how to identify and properly report illegal or unsafe activities. Each teen goes through six hours of hands-on training, mostly in the form of ride alongs with Keller police officers.

Teen patrols wear identifiable clothing, including a t-shirt or cap with the HLTP logo. They work in pairs, mostly after dark, patrolling the ten villages and associated amenities of the Hidden Lake community by car. At no time are they allowed or encouraged to pursue suspects or even exit their vehicles. There must be a cell phone inside each teen patrol vehicle, and they must check in with the Keller police department each time they begin their shift.

Community Service Credits Awarded

In addition to enhancing the safety of Keller TX real estate, making these neighborhoods a safer place to live, the teens are awarded community service credits for their efforts. There is no maximum number of hours the teens are allowed to work, but they must volunteer for at least one, two-hour shift per month in order to remain an active HLTP member.

Accommodations are made for school, vacation, and work schedules, in order to make it as easy as possible for teens to volunteer their time. All interested teenagers must be able to pass a background check prior to beginning their training, during which they are taught patrol objectives, observation skills, and memory enhancement techniques.

If you are looking to purchase a piece of Fort Worth TX Real Estate that is steeped in local history, look no further than the magnificent Reeves-Walker House. Built in 1908 for the founder of First Fort Worth Bank and Trust, this Victorian mansion offers 9300 square feet of beautifully restored office or living space. It was sold in 1917 to the president of the Walker Grain Company, James L. Walker, who owned the property for fifty years. Upon its sale in 1967 it served as a funeral home, and since the mid-1980’s has been used as business offices.

Modern Amenities Offered in an Old Classic

As part of this beautiful building’s restoration, it has been upgraded to include modern amenities such as zoned heating and air conditioning, upgraded electrical service that can handle modern technology, a security system, and automatic sprinklers for the 1.2 acres of lush grounds that surround the structure.

A brick driveway provides access to a parking lot that has a capacity to hold 18 automobiles, and the entire property is fenced. A carriage house at the rear of the property offers an additional 2,400 square feet of usable space, and the main structure includes a full basement.

The grand entrance of the main floor includes a beautiful herringbone patterned hardwood floor and expansive 14 foot ceilings. The large private office on the ground floor is equipped with two fireplaces, as is the conference room. The second floor offers six offices. The original ballroom is currently being used as a library but could be converted into another large office.

This magnificent piece of Fort Worth Real Estate is recorded as a Texas Historic Landmark, and is conveniently located among the other grand historic homes of Fort Worth’s Fairmount-Southside Historic District.