Fort Worth,Texas Market

[Bara Nwokoma]

I decided to drive for dollars in Ft. Worth & Haltom City today and I was impressed of what I saw. I have only dealt in the Dallas market, specifically the Fair Park area. 

There were a few FSBOs and also new houses going up in the areas I was cruising around. There were definitely one company buying up alot of lots and houses in the area I was cruising in. 

I was driving the areas of: 

NE Loop 820 & N Beach St

Hartwood Dr/Hulen St

TCU/ University Dr( I was not expecting to find anything around here but the drive gave some insight) 

Are there any investors familiar with this area? Is it a booming market? Whenever I hear people speak about Ft Worth, its pretty bland. "Yes, I am moving to Ft. Worth because it is cheaper than Dallas. But I rather live in Dallas."  Typically when there are a lot of houses being built, it means the market is beginning to get saturated with homes therefore driving costs down? Please correct me if I am wrong. I am just trying to flow with the market and make deals to make all parties involved happy. 

[Mark H.]

I am both a resident and investor in far North Fort Worth, (North of 820), part of it aka Alliance Texas. Here are some high level points about the area (zip codes 76148, 76244):

A. Population growth was explosive, it has increased by about 100k in the last decade (not counting neighboring cities/suburbs, which have grown as well). About half the new renters come from outside the DFW Metroplex, largely from out of state. Employers keep relocating to the area due to the pro-business environment.

B. Residential development growth was significant in 2000-2008, and by now mostly built out, so further residential growth is heading West towards 76177 and North toward Roanoke. Commercial  development growth cycle has been ongoing (2005 - 2020) currently in the middle of that cycle with new retail opening (Alliance Town Center, Presidio junction, and outlets by Cabellas). New class A Office space opening and expected to grow. Major city services are in the works to open locally this decade (police station, city hall, etc). Local Income level considered middle to upper-middle class.

C. Keller ISD schools and employment opportunities (e.g. Lockheed Martin, Alliance Airport, BNSF) are consistent magnets. Neighboring Northwest ISD (North and West of here) is growing rapidly.

D. Most houses in 76244 were built after 2000, cost 100k-400k. Prices have spiked 20% in 2013, remaining at similar level so far. Houses sell very fast in the desirable subdivisions (e.g. Heritage, Saratoga Springs). Older houses in 76148 have been quite attractive for investors of fixer-uppers.

E. Traffic has been a MAJOR issue! While arterial roads within the area have been improved the last 4 years, the roads from here to downtown Fort Worth (I-35W & arterial roads) are very narrow, extremely congested and under massive construction. This has deterred a lot of people who work in downtown Ft Worth from moving here. This has resulted in this area behaving as if it was its own city: people here are largely employed in local businesses with a short commute, and try to avoid commuting to downtown. Once the road construction to downtown will be completed around 2018, this area will be significantly more attractive to commuters who prefer newer subdivisions around here. The commute Eastward to Irving (major IT employment center) has improved dramatically with completion of DFW Connector project in Grapevine in 2013, so this area is being more positively discovered by commuters to Irving.

If you've read this far, I hope you benefit from the info. Good luck to everyone.