99 posts categorized "Real estate"

02/19/2014

One City Place developers receive loan to complete work on office tower

The developers of City Place in downtown Fort Worth have received a $41.5 million loan to complete work and lease One City Place, one of the former RadioShack headquarters at Third and Throckmorton streets.

PCCP, a real estate finance and investment management firm with offices in California and New York, said today it was loaning the money to Spire Realty Group in Dallas. Spire, a privately-held real estate investment and management company, bought the 19-story property in 2011.

One  City Place is a 313,953 square feet multitenant office building, and part of the 1.2 million-square-foot, three-building City Place development. The other tower is called Two City Place. The third building has street-level space for shops and restaurants and a parking garage.

RadioShack sold the property in 2005. The towers were built in the late 1970s. A now-demolished portion was once the Tandy Center outlet mall. 

Ron Bonneau, PCCP’s vice president, said the loan will provide funds for tenant improvements and leasing commissions. 

“The property is best-in-class for the area and has already attracted significant interest from potential tenants,” Bonneau said.

_ Sandra Baker

01/22/2014

The Fort Worth-Arlington mortgage delinquency rate inches up in November

The number of Fort TX_FortWorth_19100_23104_201312Worth-Arlington mortgage holders more than 90 days delinquent on their loans fell to 4.17 percent in November, compared to 4.6 percent from November 2012, according to a CoreLogic report..

The rate inched up from 4.1 percent October. It was last above the current rate in March 2013 when it reached 4.3 percent, CoreLogic said.

Foreclosure rates in FortWorth-Arlington also decreased in November, CoreLogic said.

CoreLogic said the rate of FortWorth-Arlington area foreclosures among outstanding mortgage loans was 1.04 percent for the month of November,  a decrease of 0.15 percentage points compared to November of 2012 when the rate was 1.19 percent.

Foreclosure activity in FortWorth-Arlington was lower than the national foreclosure rate, which was 2.18 percent for November 2013.

_ Sandra Baker

01/21/2014

Ernst & Young moving to Sundance Square's new Westbrook Building

FORT WORTH Ernst & Young has leased the top, sixth floor of The Westbrook Building on the west end of Sundance Square Plaza in downtown Fort Worth.

The 8,600-square-foot lease pushed occupancy in the newly-opened building at Third and Houston streets to 60 percent. Ernst & Young will also have access to 1,900 square feet of balcony space overlooking the plaza.

The accounting and consulting firm will move from the Wells Fargo Building nearby. 

“This is a great space with fantastic views of the new plaza so we know Ernst & Young will be very happy in this prime location,” said Johnny Campbell, Sundance Square president.

Robert Gamblin and Bill Booker represented Sundance Square. Glenn Dyke, Phil Puckett and Blake Lloyd with CBRE represented the tenant.

The Westbrook is named after the historic Westbrook Hotel built in the early 1900s and closed in 1969. Starbuck’s relocated to The Westbrook in November and Taco Diner will open this spring. 

_ Sandra Baker

12/31/2013

Dallas-Fort Worth home prices up 9.7 percent in October in latest Case Shiller report

Dallas-Fort Worth home prices rose 9.7 percent in October from a year ago, according to the latest S&P/Case Shiller Home Price Indices report released today.

Nationwide, home prices were up 13.6 percent, the highest year-over-year gain since February 2006, the report said.

“Home prices increased again in October,” said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a statement. “However, monthly numbers show we are living on borrowed time wand the boom is fading.”

Dallas-Fort Worth home price increase in October was the highest since 2000, the report said.

However, home prices fell 0.1 percent in October from September in Dallas-Fort Worth, the report said. The area was among 10 cities that saw slight declines, while 10 other cities in the index posted positive monthly gains.

“The key economic question facing housing is the Fed’s future course to scale back quantitative easing and how this will affect mortgage rates,” Blitzer said. “Other housing data paint a mixed picture suggesting that we may be close to the peak gain in prices. However, other economic data point to somewhat faster growth in the new year. Many forecasts for home prices point to single digit growth in 2014.”

­_ Sandra Baker

12/23/2013

Fewer Fort Worth-Arlington mortgage holders late on loan payments

The number of mortgage holders in FortWorth-Arlington late on their loan payments remained flat in October from September, but dropped significantly from the same period a year ago, according to CoreLogic research firm's latest figures.

The delinquency rate for loans at least 90 days late was 4.1 percent in October, the same rate as September, but 0.53 percentage points below October of 2012, CoreLogic said.

Fort Worth-Arlington foreclosure rate among outstanding mortgage loans was 1.02 percent, a decrease of 0.27 percentage points from October of 2012.

The national foreclosure rate in October was 2.15 percent and 0.95 percent in Texas.

_ Sandra Baker

11/05/2013

Fort Worth-Arlington home prices rise 5.3 percent in September in market report

Fort Worth-Arlington home prices rose 5.3 percent in September, according to CoreLogic’s monthly Home Price Index released Tuesday.

The figure includes the sale of distressed properties.

When that number is removed, home prices locally rose 8.9 percent in September, compared to a year ago.

Home prices nationwide increased 12 percent in September, the 19th straight month of year-over-year price increase, CoreLogic said.

Excluding distressed sales, home prices nationwide increased 10.8 percent in September.

"September marked the unofficial five-year anniversary of the start of the housing crisis," said  Mark Fleming, CoreLogic’s chief economist. "The five-year home price appreciation for all homes in the nation was 3.4 percent. While there is still room for improvement, the CoreLogic Home Price Index is at the highest level since May 2008."

_ Sandra Baker

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

 

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