Things to know about the real estate process and the Fort Worth area
Neighborhood Spotlight: Race Street/Oakhurst
Located in the heart of Fort Worth, just east of downtown, the up-and-coming Race Street area and neighboring Oakhurst neighborhood are home to great food and some of the cutest houses.
Race Street has been through a renaissance in recent years and has found its footing as a laid-back, pedestrian-friendly hang out spot that is centrally located and full of variety. In addition to multi-family high-rise housing and restaurants, other local attractions include a record store, clothing boutiques, and salons and barber shops. Food is the main attraction on Race Street, and offerings include locally-founded chain Fuzzy's Taco Shop (don't let the name scare you--it's good!), Tributary Cafe (amazing Cajun cuisine in a renovated house--try the etoufee!), Gypsy Scoops ice cream shop (yum!), and an adorable little building that houses Race Street Coffee (*adding to my list of coffee shops to try). The food scene is varied and delicious.
Around the corner and just down the road is the scenic Oakhurst neighborhood. The first thing you see is this grand entrance, so you know it's going to really be something special.
Homes in this neighborhood date back to the 1920s and have been meticulously maintained over the years. (More information about the history of the neighborhood can be found here: http://www.oakhurstfw.org/p/a-history-of-oakhurst.html) It doesn't take long to see that homeowners of Oakhurst take great pride in their homes, yards, and neighborhoods. Driving through the neighborhood you'll find mature trees, beautiful landscaping, and quiet, serene views.
Homes in Oakhurst have sold for a median price of $256,250 over the last twelve months (February 2019-January 2020). The price per square foot at which the homes have been listed has increased from $155 in March 2019 to $183 in January 2020. Currently, there are eight homes on the market with prices ranging from $224,900 to $419,900 and square footage ranging from 1,159 to 3,084.
Are you interested in moving to a quiet, well-kept neighborhood with rich history? Let's take a look at Oakhurst and find your new home in this pleasant little area in the heart of Fort Worth.
Your first meeting with a listing agent
Last month, we talked about the benefits of working with a real estate agent on the sale of your home. You may be wondering if there's anything you need to do to prepare for your initial meeting with your agent.
The agent will handle most of the work and should be prepared to answer any questions you may have, but it's smart to be prepared to mention any updates or selling points you think may set your home apart in a crowded market. Some agents (myself included) will want a few minutes to quickly tour your home with fresh eyes and no outside influence, just as a potential buyer will do once it's on the market. After that brief tour of the property, you'll have the chance to tell your agent all about the things you love most about your home. What are you most proud of? What have you done to improve the home? An agent will be able to tell you what kind of return you can realistically expect on your investment and hard work.
You should also be prepared to talk through marketing strategies. Your agent will be prepared with a list a ways they will market the property, but this is your chance to speak up about your comfort level with those ideas. Are there times when you do not want visitors in your home, perhaps if you work from a home office or have an infant with a strict nap schedule? Are you comfortable with an open house, hosted by an agent? You have the final say about who comes into your house and when, but keep in mind that the more open you keep the visit schedule, the more likely it is that you will seller your home more quickly.
This is a great opportunity to ask questions about the home selling process. Your agent should be able to paint a clear picture of the steps between this initial meeting and getting to the closing table. If you're thinking about selling your home in the Fort Worth area, give me a call and we'll set up a time to talk through a personalized strategy for selling your home.
Neighborhood Spotlight: Meadowbrook
Located in East Fort Worth, Meadowbrook is a vibrant community that appeals to all ages. One of the oldest neighborhoods in town, Meadowbrook features some historic homes with official designations as well as homes that have been renovated by young families and investors. Situated just south of Interstate 30, the neighborhood is home to naturally beautiful settings such as the Tandy Hills Natural Area, Oakland Lake Park, and Meadowbrook Golf Course.
Meadowbrook is home to a number of local artists who are drawn to the history and beauty of the area. (In fact, the neighborhood boasts its own art gallery with the Firehouse Pottery and Gallery.) There are numerous locally-owned businesses in the area, including a neighborhood-centric newspaper, the Greater Meadowbrook News (http://www.greatermeadowbrooknews.com/). Delicious food options and local hangouts in the area include La Rueda, The Mexican Inn, and Coffee Folk.
In terms of housing, prices are still very affordable in this neighborhood. There are many opportunities to own older or even historic homes at a great price. Homes typically range from the mid-$100,000s to the low $200,000s, with square footage in the 1,500-2,000 square foot range.
Are you interested in making your new home in Meadowbrook? Contact me to take a look at all this beautiful neighborhood has to offer.
Pre-Qualification vs. Pre-Approval: What's the difference?
"I've heard it's good to be pre-qualified before looking for homes...or was the pre-approved? Wait, what's the difference??"
Yes, there is a difference between the two, but let's back up to the bigger point--you need to go through the "pre" process before looking at homes. If you are out house hunting and absolutely fall in love with one, you need to move quickly to put in your offer. Along with the actual offer, there are accompanying financing documents that need to be attached, ideally including your pre-approval letter. The other side of the deal - the sellers - need to know that you are good for the money you are proposing to exchange for their property.
So, let's break it down:
Pre-Qualification:
- can be completed online in a few minutes
- does not pull your credit
- relies on the information you provide in the online form you'll complete
Pre-Approval:
- completed through a lender, such as a bank or mortgage lender
- pulls your credit history
- a more thorough, in-depth look at your readiness to commit to a loan
Things to do around Fort Worth: February 2020
Okay, confession time: I've never been to the Stock Show.
I know, I know, I've lived here pretty much my whole life, so how have I missed this? I'm not sure, but this year's show runs through February 8th, so you just have a few more days to catch it. Tickets and event information can be found here: https://www.fwssr.com/
Photo courtesy of Cowgirl Magazine
Another big event around town is the 42nd Annual Cowtown Marathon. (Don't forget to check for traffic updates and road closures that weekend!) Festivities include the 5K and 10K races on Saturday, February 29th and the Marathon, Ultra Marathon, 4-Person Relay, and Half-Marathon on Sunday, March 1st. To sign up or learn more, visit https://raceroster.com/events/2020/22695/the-2020-cowtown-race-weekend
Photo courtesy of raceroster.com
Behind the scenes: workplaces
Just for fun, in the months with a "bonus" Wednesday, I'm posting some behind the scenes shots that will give you a glimpse of the daily life of a real estate agent. To kick it off: workspaces!
Why should sellers work with a real estate agent?
"I'll just sell it myself and save some money. How hard can it be?"
It may be more complicated than you would expect.
Let's start by addressing the elephant in the room: commission. If you saw my earlier post, you learned that in this area, sellers are typically the ones who pay for the commissions in a real estate transaction. Understandably, some home sellers want to save this money and try to sell their home themselves. With a plethora of homes for sale or rent websites out there, I can understand the temptation. Though I can tell you all about the advantages of having a real estate agent list your home through the Multiple Listing Service (MLS), getting your home's listing in front of thousands of REALTORs® (because they know that they can't rely on Zillow, Realtor.com, Redfin, etc. to have the most up-to-date information), I'd rather point out everything that comes AFTER that.
A home is the most expensive purchase most people will ever make. Buyers take the process seriously, employing the expertise of a local real estate agent to walk them through the process and serve as their representative and advocate. If they bring that support and expertise to the table, why wouldn't you want that same level of representation, as well? Do you know which forms are required for the sale of a residential property, as well as the optional ones that can further protect the parties involved? Did you know that most of the rights to back out of a deal belong to the buyers, but there are a few ways for the seller to get out, too, if the deal goes south? Chances are, you probably don't know the ins and outs of residential real estate, nor are you keeping up to date with current changes to the promulgated (required) forms that frequently occur. Just like a home is the most expensive item a buyer will ever purchase, the equity you've built in your home should be protected and maximized. A REALTOR® can help you with this.
One final point I'll make is about the savings that can actually be afforded by using an agent to sell your home. According to figures compiled by the National Association of REALTORS®, homes that are sold by the owner sell for an average of $200,000. Homes sold by a REALTOR® sell for an average of $265,000. It can also take up to an average of two months longer to sell on your own than with an agent, if they sell at all. (Many who start out selling on their own end up growing frustrated with the process and eventually enlist the help of an agent.) If you're still making payments on your home, do the math. Not only are you saving that many months in payments on your mortgage, insurance, and taxes, but you're also gaining the expertise of someone knowledgeable in the field who will represent you to the fullest extent possible. Value added by agents include not just the expertise but also extras such as professional listing photos, negotiation skills, and extensive marketing of the property.
Thinking about selling your home? I'm here to help!
Neighborhood Spotlight: Woodhaven
This new feature will highlight a different part of the Fort Worth area each month. We'll begin with the Woodhaven neighborhood in east Fort Worth.
Settled among mature trees, rolling hills (a rare site in this part of Texas!), and a beautiful golf course, Woodhaven was established in the 1960s and 1970s as a mixed-use community. Large homes on spacious lots share neighborhood space with apartments, condominium complexes, and businesses. The community is located at the intersection of Loop 820 and Interstate 30 on the northwest corner, lending itself to easy highway access and a location that is just minutes from downtown Fort Worth. In fact, if you take Randol Mill on the north end of the neighborhood, it is a direct path to downtown, passing by Martin House Brewery and Top Golf. Prominent businesses in the neighborhood include KTVT Channel 11, the Fort Worth East Regional Library, and National Farm Life Insurance.
At the heart of the community is Woodhaven Country Club, home to a beautiful golf course, swimming pool, tennis courts, and clubhouse with banquet space and food offerings. Homes surrounding the course feature large lots, scenic views, and fun architectural details such as built-in bars, lots of entertaining space, and a variety of home styles with great curb appeal.
As of the end of 2019, single family homes for sale in the Woodhaven neighborhood averaged between $250,000 and $350,000 and ranged from 2,500 to 4,000 square feet.
Interested in moving to Woodhaven? Contact me to set up a home tour and let's find your dream home!
Why should buyers work with a real estate agent?
"I've got the Internet and all of those home search sites. I don't think I really need an agent."
I'd like to convince you otherwise.
Having an experienced, knowledgeable agent advocating and negotiating for you is worth the peace of mind, isn't it? In most parts of our society, we do not engage in negotiations or similarly uncomfortable conversations where we have to work out a fair price. We typically pay whatever the price tag says and move along. With the largest purchase of your life--a home--it makes sense to make sure you're getting the best deal possible. A real estate agent studies the local housing market, keeping current with housing trends and price fluctuations. This knowledge will help you, as the consumer, determine a fair offer price that balances the value of the home with the current market conditions, making sure that you don't overpay for your new home.
Another advantage to using an agent is that you don't have to navigate all of the legal paperwork yourself. There are certain forms that are required by the state of Texas for the sale of a home, and there are many more available specifically to licensed REALTORs® that help facilitate the process. Your agent will not only be able to access these forms but also have the experience to skillfully use them and explain their contents. (An agent will also have the support of a broker to navigate anything unusual during the process.)
One more reason to utilize an agent as a buyer: it's typically free for you! Most of the time (at least in this area), the seller pays for the commissions of both the seller's agent and buyer's agent. While there may be some exceptions to this, such as a "for sale by owner" situation where they refuse to involve agents in the process or pay for anyone's commission, it's common practice that the seller covers the commission amounts for both sides of the deal.
If you're looking for an agent to help you through the home buying process, reach out to me and let's talk. I love to work with home buyers, especially first-time buyers. (It must be the teacher in me--I love making sure people feel informed and comfortable throughout the process.)
Meet Big Bird
We bought it in early 2013 and have done quite a bit to it since then. Since some things (like the engine) had already been modified over the years, we didn't feel bad about making some updates. The goal for this car was for it to become my daily driver, so a reliable start was key.
Here are some of the modifications we've made to the Bel Air:
Under the hood/performance
- Aluminum block LS327 engine (replaced the 283 that was in it when we bought it, which had replaced the original 265)
- Ported heads
- Holley intake
- Vertical stock throttle body
- Mid length headers
- True dual exhaust
- Purple Horny glasspacks as resonators
- Hooker MaxFlow mufflers
- Tubular front control arms
- 4 wheel disc brakes to replace the 4 drums
- Hydroboost power brakes
- Power steering
- Front and rear sway bars
- 8.8 inch narrowed Ford rear end
- TCI 3 link
- Wheel Vintiques powder coated steelies
- 215/70r15 front tires on 15x8
- 275/60r15 rear tires on 15x10
- Vintage Air air conditioning
- 3rd brake light (because people stare but forget to stop!)
Welcome!
Welcome to Retro Real Estate Fort Worth, a home for all things Fort Worth with an emphasis on real estate. From historic buildings to special events to homes for sale, this site is dedicated to featuring the things that make Fort Worth unique.
