Although the change in active listings was relatively small from August to September of 2009 in zip code 76126, the rate of sales was cut in half, resulting in a doubling of the months inventory for the area.  August was a great month for this area particularly for homes below $300K yet September sales were dampened for most price bands which was typical for most other zip codes within Fort Worth Tarrant County and surrounding areas.

Search homes in the 76126 zip code!

If you have any questions or would like additional information please contact us.  Also, we invite your comments and feedback on this information (see footer of this page).

Some of the areas and subdivisions within Fort Worth's 76126 zipcode include , Benbrook Lakeside, Benbrook Estates, Greenbriar Addition, Blue Bonnet Hill, Winchester, Timber Creek, Hilltop Heights Add, Ridglea Country Club Estates, Murphys Meadows Add, Westpark Benbrook, Wallace Heights Add, Whispering Oaks Add Benbrook, Trinity Estates Add Benbrook, Hills of Whitestone, TC Hawpe, Meadows Add Benbrook, Skyline Ranch, Mustang Creek Estates, La Bandera, Pyramid Acres, Brookside at Benbrook Field, Brooks-Moreland Add, Markum Ranch Estates Add, Reata West at Team Ranch, Shady Valley, Lost Creek Add, Lacy B R Surv, Twilight Add, Munro Hugh Junior Surv, Mustang Pointe, Lost Creek Hollow Add, Deer Wood Forest Add, Pearl Ranch, Oaks of Aledo Add, Montserrat, Bella Flora, Socorrow Farming Co Surv,  La Cantera at Team Ranch, Creeks of Aledo, Hills Bear Creek, Treetop, Rivercreek Ranch, Legacy Pointe, Woodlands of Bear Creek, Pace Crossing, Saddle Creek, Benbrook Lakeshore Estates, Aledo Grove, Tres Vistas Estates, Trinity Gardens Benbrook, Trail Ridge, Ashbriar Add.

The following Months Inventory Comparison looks at zip code 76116 which is located near downtown in the Ridglea Country Club area.  The comparison is between what occurred in August and September of this year.  Although the same number of home were sold in both months, the inventory of homes on the market went up by about 5%.  Some indicators did improve in September but because of the increase in inventory the overall trend was slightly down.  Also, as I've mentioned in previous blog posts, the powerful effect of the First time home buyer tax credit can be seen in the $0-$100K price band.  It is beginning to look as though this may be extended into next year and may be available to higher income earners along with other improvements and changes.  If this happens, the result should be improvements in the higher price bands  in the quarter following the its implementation.

Search homes in the 76116 zip code!

If you have any questions or would like additional information please contact us.  Also, we invite your comments and feedback on this information (see footer of this page).

Below are the Months Inventory Charts for zip code 76020 (the Azle, Texas area) with a comparison of August and September 2009.  As you can see, August inventories in many price bands were normalized while others were high.  As expected, September indicates a downturn in the market which is not unusual for this time of the year.  However, it is not a good sign for home sellers or for the economic outlook in the area when virtually all price bands are in a "Buyer's Market".  If the government extends the $8000 First Time Home Buyer Tax Credit after November, we could see inventories drop some, particularly in the $0-$100K bands.  This program was a success for the Fort Worth area this year.  In a few days I will post the September thru October 2009 comparative data which will provide as more insight into which direction this market is heading. 

Search homes in the 76020 zip code!

If you have any questions or would like additional information please contact us.  Also, we invite your comments and feedback on this information (see footer of this page).

Of worthy mention is a move in condition lakehouse we listed just a few days ago located on Eagle Mountain Lake, on 6820 Briar Rd., Azle, Texas, 76020, priced at only $239,900.  This is just the kind of home someone might think of as a weekend or summer get away (a retreat if you will) yet it is entirely suitable for those who desire to live on the lake and use it as their primary residence too.  Simple by design and modest in outward appearance, this lakehouse has 1988 sq. ft. with two bedrooms and a gameroom that has a sleeper alcove.  A handsome feature of this home is the tonge in groove knotty pine ceilings in the downstairs living and kitchen, the master bedroom and the gameroom walls and ceiling.  The gameroom comes equipped with a bar and space enough for a small game table.  There are two full baths, one on the first level and the other upstairs between the master and second bedrooms. The master is large and the second bedroom has an alcove for additional sleeping space too.  The owner said he has had as many as 13 sleepover at once, so it can accomodate a lot of family and guests for those summer retreats.  The kitchen and dining area are open to the large living room and all of this space has a wide open view of the lake.  Just off the kitchen and living room is a screened porch with an equally fine view of the lake.  The back yard is shady and small and does not require a lot of maintenance. The boat house extends well out into the lake just in case water levels are low so that you can still get your boat in the water.  The boat house has double bays and a boat lift.  Also, there is a sundeck and the lower deck has a picnic table.

This is a great time of the year for enjoying fall outdoor activities without the summer heat.

This property is available for viewing now and the water in the lake is up.  Call us today for an appointment to see this great waterfront home in a beautiful lake setting.

In previous blog posts, I discussed months housing inventory thru October 2009 using data to capture a picture of what happened during the last six months period. In this post, the data is isolated to a particular month.  For instance, August 2009 is based on the 31 days of listing and sold data within that month.  The same applies to September as well.  Here also, the data compares August and September within a given zip code to determine a month to month trend.  In addition, we are looking at two zip codes, i.e., 76179 and 76131 which border each other in the Fort Worth, Texas area.  Although close in proximity, they are nevertheless different by price and size of existing homes.

As you can see by the trends in the various price bands, the market is still shifting in these two areas.  It is worth noting that the $0 - $100K price band in the 76179 zip code has been in a "sellers market" for the previous two months and that the $100 - $125K band is in a normalized or balanced market for the same period.  This is largely due to the success of the $8000 first time home buyer tax credit that so many people used (See Thurs, 22 Oct, 2009, blog post).  A balanced market is also evident for the same price bands in the 76131 zip code.  Although many sellers in these price bands have left the market and are now renting due to various economic considerations, many sellers are also moving up.  Therefore, we should expect to have a moderate ripple effect which could reduce inventory levels on subsequent price bands. However, economic considerations such as employment and consumer confidence could have a dampening effect on the degree of positive change in inventory levels. I will post a similar report using October data after the end of the month.

Search homes in the 76131 or the 76179 zip codes!

If you have comments or questions please contact me or send an email (link at bottom of this post) and I will be happy to respond!

If you are buying a home, the end of November is the deadline for the First Time Home Buyer $8000 Tax Credit.  Actually, because of the Thanksgiving Holiday plus weekend, my advice as a Realtor is that you should close no later than November 24, 2009, or face the prospect of not meeting the deadline and losing the tax credit altogether. 

Please contact me if I can be of service!

Bernie

P.S. - For more information on the tax credit, I've included the video below:

Ok, you want to buy a home and the zip code with the homes, schools and ammenities that you like the most is in 76126.  Maybe you haven't hired an agent yet but you're about to and want to gather a few more preliminary facts about the area.  Or lets say your thinking of selling but before you talk with an agent and get serious you want to know whether homes are moving in your market and price range.  Well, the chart that I've summarized below is the most current for the above zip code considering the last six months of sales up through October 21, 2009, and it will tell you that within a given price range it will take so many months to sell a home providing that no other homes come on the market.  The problem is that more homes do come on the market but another factor to consider is that the rate of home sales is also constantly changing.  However, the data below can be used to provide us a basis for what has happened in a particular market over a specific period of time and considers the inventory that is currently available for purchase.  The larger the inventory on the housing market, the longer it will take to sell.  Consequently, a buyer could expect to pay a more reasonable price with such a large selection.  This is often called a "Buyers Market".  A "Seller's Market" is evident when inventories are low.  A "Balanced Market" occurs when neither the buyer or seller is favored in a potential home sale or purchase.

The above chart is deemed to be correct but we make no specific guarantee for its accuracy.

For sellers in the 76179 code of Fort Worth's, Tarrant County, Texas, the months of home inventory in the area has one encourageing highlight worth mentioning and that is the presence of a balanced market in the $0-$100K range as of October 20, 2009. The existing housing market above this range (87% of active listings) continues to struggle above $100K however.

The above chart is deemed to be correct but we make no specific guarantee for its accuracy.

It remains a buyers market for Fort Worth's Lake Country Estates and immediately surrounding neighborhoods.  Now is the absolute best time to buy in this area.  Please contact us if you would like to view any properties there or in the 76179 zip code.

The above chart is deemed to be correct but we make no specific guarantee for its accuracy.

If you want to search properties in Fort Worth, here is a Mulitple Listing System (MLS) property quick search will all possible homes active for sale via several zip codes within the Fort Worth, Texas, Tarrant County area!  Simply find the zip code you're interested in and then find the price range which has a link to that particular search.

76179

$0 - $100k

$100k -$150k

$150k - $200k

$200k-$250k

$250k - $350k

$350k - $500k

$500k plus (luxury market)

76020

$0 - $100k

$100k -$150k

$150k - $200k

$200k-$250k

$250k - $350k

$350k - $500k

$500k plus (luxury market)

76135

$0 - $100k

$100k -$150k

$150k - $200k

$200k-$250k

$250k - $350k

$350k - $500k

$500k plus (luxury market)

76052

$0 - $100k

$100k -$150k

$150k - $200k

$200k-$250k

$250k - $350k

$350k - $500k

$500k plus (luxury market)

76126

$0 - $100k

$100k -$150k

$150k - $200k

$200k-$250k

$250k - $350k

$350k - $500k

$500k plus (luxury market)

76108

$0 - $100k

$100k -$150k

$150k - $200k

$200k-$250k

$250k - $350k

$350k - $500k

$500k plus (luxury market)

76131

$0 - $100k

$100k -$150k

$150k - $200k

$200k-$250k

$250k - $350k

$350k - $500k

$500k plus (luxury market)

In Fort Worth, Keller Williams Realty has determined that homes over $500k list price is the basis for luxury properties in this area.  With that in mind, I did some research in the Multiple Listing System and formulated the table below which shows some interesting statistics for all luxury properties located throughout Tarrant County:

587 properties sold in the last 12 months -

The lowest sales price was  $387,500 and the highest was $3,949,000.  Yes, the lowest sales price is below the $500,000 basis.  However, that is because the sales price was significantly lower than the list price.   

These properties lie within the following cities and communities within Tarrant County:

Southlake

Westlake

Westover Hills

Colleyville

Arlington

Fort Worth

Haslet

Keller

Kennedale

Mansfield

North Richland Hills

Dalworthington Gardens

More information may be found on luxury homes at http://christiangroup.yourkwagent.com or on this site at our Featured Luxury Homes page.

Eagle Mountain Lake is a wonderful recreational place to own a home on the water.  You'll find a small town community atmosphere yet there are lots of amenities near by.  Numerous homes around the lake to choose from and at a time you can find great prices.  Today, mortgage rates are at 4.87 percent.

Terri and I are real estate consultants and we can help you find that ideal water front home you've always wanted.

Bernie Christian