93 posts categorized "Real estate"

10/03/2013

Dallas-Fort Worth new home starts rise in the third quarter, new report says

A rise in mortgage rates didn't seem to impact Dallas-Fort Worth new home starts in the third quarter, says Dallas-based Residential Strategies.

Area builders started construction on 5,786 new homes in the quarter, a 26.3 percent increase from the same quarter a year ago and the ninth straight quarter of year-over-year start activity, Residential Strategies said.

"Traffic and sales patterns during the third quarter were more seasonal than the previous year, but buyers were also adjusting to the environment of higher mortgage rates and house prices," said Ted Wilson, principal with Residential Strategies, in a news release.

Builders also started the quarter with large order backlogs, he said.

New home closings were also up, the consulting firm said. Dallas-Fort Worth builders closed the sale of 5,019 homes in the third quarter, 610 more units than in the third quarter of 2012.

_ Sandra Baker

10/01/2013

Fort Worth-Arlington home prices up 6 percent in August, report says

 

Fort Worth-Arlington home prices increased 6 percent in August from a year ago, a CoreLogic report shows.

The increase includes the sale of distressed properties.

When distress sales are excluded, home price in August rose 9.6 percent in August from a year ago, the report said.

On a month-over-month basis, home prices, including distressed sales, increased 0.8 percent in August over July, CoreLogic said.

Home prices nationwide, including distressed sales, increased 12.4 percent on a year-over-year basis in August, the report said. The increase was the 18th consecutive month of year-over-year increases nationwide, the report said.

_ Sandra Baker

08/08/2013

Chase cutting 450 Fort Worth mortgage jobs

JPMorgan Chase will cut 450 mortgage servicing jobs at its CentrePortv facility in northeast Fort Worth as the need for personnel to handle foreclosures decreases, the bank said Wednesday. Chase spokesman Greg Hassell said another 25 jobs in other North Texas locations also will go. The cuts are a small percentage of the bank’s approximately 14,500 employees in North Texas, and Chase hopes to place some of the affected workers in the 340 current job openings in its North Texas operations, Hassell said.

Chase in February announced that it planned to cut 19,000 jobs companywide by the end of 2014, including 13,000 to 15,000 in mortgage-related positions. The local cuts are part of that, Hassell said Wednesday. He said affected workers will receive at least 90 days’ notice.

According to data from RealtyTrac, a real estate information service, U.S. foreclosures are at their lowest level since 2007, just before the financial crisis took hold. Also, mortgage refinancings have waned with the recent rise in interest rates, although mortgage rates remain historically low. Chase is the largest bank in Tarrant County and second-largest in the Metroplex by deposits. The bank and its predecessors have long operated a large operations facility at CentrePort, just south of Dallas/Fort Worth Airport that handles a variety of functions.

-- Jim Fuquay

Dallas-Fort Worth-Arlington home prices up 11.5 percent in second quarter

Median existing single-family  home prices in Dallas-Fort Worth-Arlington were up 11.5 percent in the second quarter compared to the same quarter a year ago, according to the latest quarterly report from the National Association of Realtors.

The organization said the national year-over-year price increase was the strongest gain in 7 1/2 years.

“There continues to be more buyers than sellers, and that is placing pressure on home prices, with multiple bids common in some areas of the country” said Lawrence Yun, the NAR’s chief economist in a release.

“Higher interest rates are now causing sales to level out, but the tight supply conditions look to be with us for the balance of the year in most of the country.  Areas with tighter supplies generally are seeing the strongest price growth, including markets such as Sacramento, Atlanta, Las Vegas, Naples, San Francisco and Los Angeles.”

Locally, the median home price in the second quarter was $181,800, compared to last year at $163,000. In the first quarter of 2013, the median price was $160,400.

The median existing single-family home price increased in 142 of 163 metropolitan statistical areas surveyed.

The national median existing single-family home price was $203,500 in the second quarter, up 12.2 percent from $181,300 in the second quarter of 2012.

The median price is where half of the homes sold for more and half sold for less.

More than 2.1 million homes were for sale nationally at the end of the second quarter, the trade organization said.

_ Sandra Baker

 

08/06/2013

Fort Worth-Arlington home prices rise in June

Fort Worth-Arlington home prices, including sales of distressed properties, rose 4.6 percent in June compared to home prices in June 2012, according to CoreLogic.

On a month-over-month basis, home prices, including distressed sales, increased by 1.4 percent in June over May.

When distressed sales are excluded, Fort Worth-Arlington home prices increased 8.4 percent in June from June 2012, CoreLogic said.

And on a month-over-month basis, excluding distressed sales, area home prices increased 1.8 percent in June.

Home prices nationwide, including distressed sales, increased 11.9 percent on a year-over-year basis in June. It is the 16th consecutive monthly increase in home prices nationally.

On a month-over-month basis, including distressed sales, home prices increased by 1.9 percent in June compared to May.

Excluding distressed sales, home prices increased on a year-over-year basis by 11 percent in June from June 2012.

On a month-over-month basis, excluding distressed sales, home prices increased 1.8 percent in June from May.

Distressed sales include short sales and real estate owned  transactions.

"In the first six months of 2013, the U.S. housing market appreciated a remarkable 10 percent," said Mark Fleming, CoreLogic’s chief economist. "This trend in home price gains is moving at the fastest pace since 1977."

_ Sandra Baker

07/17/2013

More homes being built in Parks of Aledo

Parks of Aledo entry AFort Worth developer James R. Harris Partners has started development of 104 homesites on 29 acres in the second phase at Parks of Aledo, a $120 million development on Bailey Ranch Road near Aledo High School.

The Parks of Aledo broke ground in October and 20 houses have been sold since February, said Justin Welborn, a partner in Harris Partners and managing partner of the development. The houses sold ranged from $290,000 to $525,000.

Parks of Aledo will eventually have 296 homes on 100 acres. The homebuilders include Village Homes, Bannister Custom Homes, Brass Key Custom Builders, Leatherwood Construction, Clarity Homes, and HD Homes.

Homes in the second phase are on larger lots and offer more amenities and scenic view of a creek and park areas. The developer said it added a 1.1-acre park surrounded by homesites.

Amenities will include two entryways featuring extensive landscaping, irrigated lawns, crushed limestone walking trails, and natural play structures. Curbside amenities will include parkways lined with shade trees, concrete sidewalks, antique street lights, mail boxes, and street signs.

Two, 15,000-pound limestone boulders from a quarry in Leuder will be placed near the Parks of Aledo entry monument. One boulder is 9-feet by 9-feet and the second, 7-feet by 9-feet.

_ Sandra Baker

07/15/2013

Arlington's Vandergriff Town Center sold to partnership of two Arlington businesses

The struggling Vandergriff Town Center in downtown Arlington has been bought out of foreclosure by two Arlington businesses.

SkyWalker Property, headed by Gary Walker, and General Assembly Inc., led by Tony Pompa, partnered to buy the 28,221-square-foot property from Southwest Securities Bank, which foreclosed in June 2012.

General Assembly will move its headquarters to the building, 200 N. Mesquite St., and will use 5,893 square feet on the second floor. General Assembly assembles products for national retailers, manufacturer suppliers and end users.

“This opportunity was too good to pass up, as an investor and tenant,” said Pompa, who also serves a school board trustee. “Vandergriff Town Center is a centerpiece for the city’s evolving downtown’s district and will continue to be so for years to come.”

The development’s current tenants are Grease Monkey Burger Shop, Capital One Bank and Maren Karsen Salon.

_ Sandra Baker

07/02/2013

Fort Worth-Arlington home prices rise in May

 Fort Worth-Arlington area home prices rose 9.1 percent in May compared to a year ago, according to CoreLogic’s latest home price index.

When sales of distressed properties are included, sales prices locally still rose 4.7 percent in May.

On a month-over-month basis, May prices excluding distressed sales increased 1.6 percent from April, CoreLogic said.

And, prices in May increased 1.1 percent in May over April when distressed sales are included.

Statewide, home prices rose 10.1 percent when excluding distressed sales, and were up 8.5 percent when including distressed sales.

Nationwide, excluding distressed sales, home prices increased 11.6 percent in May on a year-over-year basis.

And, including distressed sales, prices rose 12.2 percent in May, the biggest year-over-year increase since February 2006, CoreLogic said.

“Home price appreciation, particularly in much of the western half of the U.S., is increasing at a torrid pace,” said Anand Nallathambi, CoreLogic CEO. “Across the country, pent up demand and continued low interest rates are fueling strong demand fro a limited inventory of properties.”

Distressed sales include short sales and real estate owned transactions.

_ Sandra Baker

06/25/2013

Area's mortgage delinquency rate plunges in April, says CoreLogic

Fort Worth-Arlington area homeowners behind on their mortgage payments at least 90 days fell to 4.2 percent in April, down from 5 percent in April of 2012, according to the latest monthly report from CoreLogic.

It is the lowest delinquency rate in more than two years.

Also, the foreclosure rate, which measures the percentage of loans in some stage of the foreclosure process, dropped to 1.2 percent in April, compared to 1.6 percent in April of 2012, the report showed.

The delinquency rate measure the percentage of loans that are 90 days or more delinquent. It is commonly called being "underwater."

The Fort Worth-Arlington includes Tarrant, Wise, Parker and Johnson counties.

_Sandra Baker TX_FortWorth_19100_201305

06/21/2013

West Fort Worth office building sold to partnership

SkyWalker Property Partners teams with the Caffey group to buy Atrium Center office building on Camp Bowie Boulevard.

Arlington-based SkyWalker Property Partners and the Caffey Group have bought the 50,686-square-foot Atrium Center office building on Camp Bowie Boulevard in west Fort Worth.

The Caffey Group, a project management and consulting firm in the oil and natural gas industry, will relocate in September from 309 W. Seventh St. in downtown Fort Worth to the building, 8851 Camp Bowie West, and lease 10,419 square feet of space. Caffey Group has an option to buy the three-story building.

Mark Caffey, the Caffey Group’s CEO, and Marty Oakes, chief financial officer, are original investors in the Hangover Opportunity Fund, a real estate investment fund led by Gary Walker, SkyWalker Property’s president.

The building is being renamed Atrium West, the buyers said. The building is 58 percent leased, but will jump to 78 percent when Caffey moves in. Its largest tenant is the city of Fort Worth's engineering department, which occupies the entire 16,141-square-foot third floor.

“We'd always talked about owning our own building,” Oakes said. “It made sense to partner with someone we knew.”

Theron Bryant with SCM Real Estate represented SkyWalker Property. Jack Clark with Red Oak Realty represented the seller, Hwy 80 Capital LP.

The new owners said they will spend $100,000 on building upgrades.

_ Sandra Baker

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