The Fort Worth and Tarrant county sub-market is still strong compared to our neighbors in other states. The overall economy and job generation on the local level is still strong without any let up in sight.
While the overall strength is evident there are areas of weakness. Area foreclosures are close to all time highs and it appears that homebuilders might have overbuilt in the near term.
Foreclosures are an area of opportunity but there is fierce competition among investors for these properties. Out of state investors are bidding up prices and flooding the rental market with vacant houses. Care must be taken in this market segment.
Builders are offering great incentives so buyers are able to get more house for their money than was possible in the past. While this incentive is great for buyers there are still situations to consider. If you are planning on moving in a few years a new home could be a problem. In most situations new houses do not appreciate any faster than the market in general. In Fort Worth that is only 3-4 percent per year. So it might take 3-4 years for a buyer to be able to sell and break even. The other issue is that when you sell you are, most likely, still competing against other new homes. In this situation many buyers prefer the allure of a new house to a pre-owned property.
These are just a few of the situations that I encounter in counseling my clients. If you want to protect yourself and your real estate investment you need a professional on your side. I have over 15 years and thousands of transactions of experience to guide me. I offer this knowledge to all of my clients to help you make the best decision based on your unique situation and needs.
Call me at 817-991-3129 if I can help.
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