July 2017 Fort Worth Housing Report

According to the Greater Fort Worth Association of Realtors, Fort Worth home sales raised 13.7 percent to 1,280 homes in July 2017. The median price for Fort Worth homes increased 11 percent year-over-year to $210,900 in July 2017.

Fort Worth’s monthly housing inventory was 2.3 months in July 2017, 0.2 months more than the year prior. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes are balanced.

Homes spent an average of 29 days on the market in July 2017, the same as July 2016. Additionally, active listings increased 12.8 percent to 2,352 listings during the same time frame.

July 2017 Statistics At-A-Glance

 

  • 1,280 – Homes sold in July 2017, 13.7 percent more than July 2016.
  • $210,900 – Median price in July 2017, 11 percent more than July 2016.
  • – Monthly housing inventory in July 2017, 0.2 months more than July 2016.
  • 29 – Average number of days homes spent on the market in July 2017, the same as July 2016.
  • 2,352 – Active home listings on the market in July 2017, 12.8 percent more than July 2016.

July_2017_FW_Housing_Report

 

National Parks and Recreation Month

fort-worth-1316471_1280When looking to move to a new home one of the most important items on the list is usually location. How far is it away from work, school, friends, or family? Is it close to shopping, entertainment, and parks? This month is Parks and Recreation Month and we are excited to share with you some of the amazing parks in Fort Worth and the surrounding areas.

Fort Worth is home to more than 200 city parks and public spaces citywide. There are plenty of neighborhood parks to choose from, along with the Fort Worth Botanic Gardens, dog parks for your favorite pooch, Log Cabin Village, the Fort Worth Nature Center & Refuge, and the Water Gardens (anyone see the movie Logan’s Run?).

The city of Arlington boasts over 90 parks and tons of activities for young and old. Looking for parks in a particular neighborhood? Try their Park Finder tool to learn about parks and their various amenities near your ‘hood.

The Dallas Park System is one of the largest municipal park systems in the nation with 381 parks totaling over 23,242 acres of developed and undeveloped parkland. Trails, disc golf, and skate parks – oh my! Dallas’ interactive map tool is a great way to explore all their parks and recreation system has to offer.

What makes your favorite park the best?

Lease Now, Buy Later

House puzzled (2)Red Team Real Estate is hosting a free home buying workshop for first-time or second-chance homebuyers on Saturday, July 29, from 9:30 a.m. to 11 a.m. Saturday’s workshop will take place at 909 W. Magnolia Avenue, Suite 2, Fort Worth, TX 76104. Anyone interested in learning the ins and outs of the home buying process is encouraged to attend.

The no-obligation workshop features industry professionals, Michael Mayes, Owner/Agent, Red Team Real Estate and Paul Duane, Mortgage Loan Originator, MiMutual Mortgage.

“We’ve spoken with many people who want to purchase a home but think they are too far away from making that dream a reality. Our Lease Now, Buy Later workshop allows current renters to gather information and make a plan, so when they are ready to move forward they are confident candidates. After attending our workshop some attendees find they are closer to home ownership than they realized.” said Michael Mayes, Owner of Red Team Real Estate. “The idea of buying a home is intimidating, especially for first-time buyers or those who may have fallen on hard times in the past. We enjoy talking about the home buying process, providing this free workshop to the community is a win-win.”

Attendees have the opportunity to learn about all aspects of the home buying process, including the true picture of renting vs buying, budgeting, savings tips, credit repair, securing mortgage financing, working with a Realtor, homeowners insurance, property taxes, closing cost expectations, and loan programs aimed to assist new and experienced home buyers.

Breakfast is provided for attendees by MiMutual Mortgage who will also be on hand to answer questions about available financing options including, FHA, Conventional, USDA, VA Loans, and more.

For more information, visit www.RedTeamRealEstate.com or register online. You may also call or email Jennifer Wilson at jwilson@RedTeamDFW.com or 817.921.3545 with any questions.

May 2017 Fort Worth Housing Report.

The Greater Fort Worth Association of Realtors released the May 2017 Fort Worth Housing Report this week. Fort Worth home sales raised 5.6 percent to 1,174 homes in May 2017. The median price for Fort Worth homes increased 12.8 percent year-over-year to $211,000 in May 2017.

Fort Worth’s monthly housing inventory was 2.0 months in May 2017, 0.2 months less than the year prior. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes are balanced.

Homes spent an average of 59 days on the market in May 2017, five days less than January 2016. Additionally, active listings increased 12 percent to 1,994 listings during the same time frame.

 May 2017 Statistics At-A-Glance

  • 1,174 – Homes sold in May 2017, 5.6 percent more than May 2016.
  • $211,000 – Median price in May 2017, 12.8 percent more than May 2016.
  • 2.0 – Monthly housing inventory in May 2017, 0.2 months less than May 2016.
  • 59 – Average number of days homes spent on the market in May 2017, five days less than May 2016.
  • 1,994 – Active home listings on the market in May 2017, 12 percent more than May 2016.
May 2017 Fort Worth Housing Report Infographic
May 2017 Fort Worth Housing Report

Grand Prairie Medical Office Transaction Facilitated by Red Team Real Estate

Grand Prairie, TX – Another premier investment opportunity has changed hands with the helpRobinson Road Aerial of Red Team Real Estate. Robinson Road Medical Plaza is a uniquely designed three-building medical complex showcasing two beautiful fountains flowing into koi fish ponds.  The three single story buildings, totaling 8,661 square feet, surrounded by a beautifully landscaped concrete parking area. Tenants include well established medical doctors, medical office staffing, hospice services, and a pharmacy.

The sale was facilitated as intermediary by Red Team Real Estate in Fort Worth jointly with Michael Mayes, Owner/Agent and Chuck Precopia, Broker. The buyer, a local investment group, has retained Red Team Real Estate as manager for this property.

“This was a great opportunity for our clients on both sides of the transaction. The growth in this area is phenomenal; I could not be more pleased for our clients and Red Team!” Michael Mayes, Owner of Red Team Real Estate.

The buyer is thrilled with this acquisition’s location and its distinct offerings in the rapidly developing corridor along Highway 161 just blocks from the new Super Walmart Center and near the IKEA in Grand Prairie.

About Red Team Real Estate

Red Team Real Estate, established in 2012 and led by Michael Mayes, provides professional client-centric service by experienced agents dedicated to your needs. Located on historic Magnolia Avenue in Fort Worth, we focus on the best i
nterest of our clients in each and every transaction. We are dedicated to the development of long-term client relationships! Let Red Team handle all of your residential and commercial sales, leasing services, property management, and real estate investments. For more information, visit www.redteamrealestate.com.

Winning. Clients.

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Downsizing Trend on the Rise in North Texas

A downsizing trend in North Texas as well as nationwide is taking hold when it comes to real estate.

A recent survey put together by Trulia.com shows home premiums on houses between 3,000 and 5,000 square feet steadily declined since 2012. Some buyers are choosing to avoid mass produced homes between 3, 000 and 5,000 square feet. Industry insiders are seeing a swing toward smaller more affordable homes with less overhead and cost than associated with a large oversized house.

Traditional families are leaning towards townhomes, condos, and smaller single family homes. Most of which are under 3000 square feet.

Tarrant County has a wealth of these wonderful smaller properties for sale especially in the Historic Fairmount District, Arlington Heights, Mistletoe Heights, and around the TCU / Westcliff neighborhoods. The ability to blend the craftsmanship of the old through original flooring and unique architectural features with conveniences of modern technology and upgraded appliances make these neighborhoods some of the most sought after places in Fort Worth. This is good news for sellers and buyers in our marketplace.

As a Historic Home Specialist and an expert in these neighborhoods, I am well equipped to show you the potential of their older homes as a great opportunity if you are in the market to downsize. From north to south, give me a call or shoot me an email and I’ll share my favorites!

Client Spotlight: Mosquito Detective

It’s that time of year we all hate… Mosquito season. Luckily, Red Team has found a friend in Dave Russell who keeps us from being eaten alive (and chemical free) while enjoying our Texas summer.

When it comes to the Texas summertime, besides the heat, we have to deal with the irritation and frustration of mosquitoes. It’s impossible to get through dusk without making sure you’re prepared to be bitten by at least some of them. Or as we sometimes joke, the mosquitoes in Texas can be so big you have to make sure that they don’t pick you up and carry you off!

At our house, we are big time pool people and we love to entertain in our backyard. Now that the kids are out of school and the “pool is open for business,” we’re starting to barbeque outside and enjoy our deck and other backyard areas and don’t usually stop until at least when school starts again. Unfortunately, now is the time the mosquito problem is in full swing. When it comes to dealing with the problem, rather than spray DEET repellant on yourself and hope not to get bitten, we would all love to have a better solution. Enter Dave Russell, the Mosquito Detective, who has the problem solved.

With multiple prevention systems already installed here locally, Dave fights the problem by getting rid of the problem – and, even more importantly, he does this the natural way versus using the chemical approach that others use. You get to keep the bees, ladybugs, and butterflies that are good for the yard (without biting or carrying disease) while getting rid of the blood suckers that we have no use for in our yards. They sell, apply, and install an ALL natural, safe for kids, pets, and the environment mosquito repellent. They solve your mosquito problem with barrier yard sprays, backyard misting systems, and body spray-on for when you’re away from home.

With multiple sized systems and convenient solution refills, Dave has cost effective ways to resolve the mosquito mess in a way that preserves nature instead of destroying it. So if you have a pool, entertain outside every season, or just want to sit outside more without fear of the biting creatures that are everywhere, give him a call to discuss his option for enjoying outside more in Texas.

Call Dave to find out how he is saving our homes one backyard at a time…

Dave Russell
Mosquito Detective
469.657.8007
www.mosquitodetective.com
www.facebook.com/mosquitodetective

Change of Address

New Location. Same great service.

Lots of exciting changes are happening at Red Team Real Estate. Our big move to the corner of Magnolia and Lipscomb in the explosive Fairmount neighborhood is at the top of the list. In addition

to the almost 3,000 square feet of office space, we’ve grown in numbers to a seasoned team of 8 ready to serve all your real estate needs – residential, leasing services, property management, and commercial.

We had a great turnout for our open house in early May. Many complimented our blending of the old and new. Unfortunately, Stella’s horse, Lady Blu, was unable to make an appearance (as you know, she’s got a busy horse schedule).
“We’re excited to be on Magnolia where it’s such a happening place,” said Red Team owner, Michael Mayes. “My favorite moment of the move happened when the guys came to put the signs on the window. Of course, it was almost 2 o’clock on the day of our open house so that might have had something to do with it, but I was still so proud.” 
The new digs have ample office, conference, and gathering spaces with beautiful views of downtown Fort Worth and Magnolia Avenue. We’re looking forward to neighborhood events where Red Team can stay involved. If you’re in the area, please drop in, it would be great to see you!

The North Texas Rental Market is on FIRE!

and it’s not going out anytime soon…

The DFW area recently took the #4 spot in Realtor.com’s top 20 hottest housing markets in the country and the numbers are showing it! Home prices have shot up by more than 40 percent during the last five years, and just two months ago, we saw prices jump by 14 percent – one of the largest year-over-year gains ever for our area.

May’s strong home sales and price spike is going to put a lot of pressure on DFW’s housing market, which is already stretched to its limits, with more buyers than sellers. While the area’s average is somewhere around the 1.4 months, some suburban markets, including The Colony, Richardson, Bedford, Hurst, Carrollton and Farmers Branch, have under a one month supply of houses listed for sale.

Homes are being built as quickly as possible, but as a younger crowd flocks to our city for its economic growth, most are not in the price range where inventory is needed mostthe entry-level market. In addition to the low inventory, tight lending standards and rising home prices have created a tough market for former homeowners, who lost property during the housing crash.

So what does this mean for residential property investors? A strong demand for more moderately priced homes has set the North Texas rental market on FIRE!

As of May 2015, the average apartment rent within 10 miles of Dallas, TX was $1512, with one-bedroom apartments going for an average of $1241 a month, and two-bedroom apartments averaging $1725.

If you already own properties in the area, seeing numbers like this is a rental investor’s dream come true! But with the hoards of new residents piling in, weeding through potential renters can be overwhelming at best. If you’re looking for more freedom and better returns, Red Team Property Management works hard to ensure you’re getting the best rent as our market continues to change, as well as fostering the right tenant fit – protecting your investment. Contact us today and start seeing results!

Best Rents + Great Tenant Fits = VALUE!

Educating for REAL Greatness,

Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.

The 2015 top 3 insider tips for buying property in the DFW real estate market.

In Baseball, you cannot win the game in the first inning. If you get too far behind though, you can make the hole so deep that it is difficult to win the game. It is the same for purchasing real estate rentals. You need to “play” smart on the front end. If you find yourself getting behind, no need to worry! You can make that up over time. However, if you buy poorly on the front end, you will be chasing to get back to square one and may never make it.

It’s about Return on Investment (ROI).
There is no reason to buy a property for a long term rental if you are not aware of and focused on the ROI. As a rule of thumb for purchasing a Single Family Rental (SFR), we remind our clients that Red Team is looking for homes that are going to generate a fair ROI. For an SFR, we would typically look for a home that the purchase price plus repairs is going to generate approximately 1% per month in rental income. This is not exact, but if a property is not going to generate the income that we are looking for, we move on to the next opportunity. Note: This does not apply to turning an existing property into a rental, only to the purchase of a new property as a rental.

Remove Emotion.
Another thing to remember is to take emotion out of it. A rental property purchase is an investment. It is a business that is expected to generate revenue and ultimately a profit. If you purchase a rental and never make any money on it, then why did you buy it? Often we find people wanting to purchase a property because they like a certain neighborhood or because the price is great. Well, there may be reasons to make that purchase, however a good rental purchase is going to be one that generates an ROI that the owner is happy with receiving. A rental is not a good rental purchase because the owner can see themselves living in that house.

Always have the end in mind.
We tell our clients, knowing the long term plan is important on rentals. How long you are going to hold the property and what are you using the rental investment vehicle to accomplish? If you make a plan and know where you are headed, it is much easier to get there.

Educating for REAL Greatness,

Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.