The  Great Debate:   Increased Down Payments

As the QRM (Qualified Residential Mortgage) debate continues, let’s take a look at what this really means.   Most politicians who support the QRM proposal, have publicly stated their support is simple.   Increased minimum down payment standards will decrease the likelihood of future defaulted loans.   That seems to be the consistent answer out of anyone’s mouth who discusses the benefits of QRM and mandatory 20% down payments.  

Plans moving forward for major development on south side of downtown

The vision for the southern end of downtown Fort Worth is to create a welcoming, safe and walkable landscape similar to the progress made in Sundance Square to the north. The new Omni and Sheraton hotels, along with the T&P Condos, began this revitalization over the past several years.

The next step is to develop the vacant properties along the north side of Lancaster Avenue, across the street from the historic post office. Planning has begun for a $25 million to $35 million project that would add residential, retail and office space to a two-block section of West Lancaster Avenue between Throckmorton and Monroe streets.

The preliminary plans for the proposed 230,000-square-foot project would include three five-story buildings and a 450-vehicle parking garage. The three buildings would offer 20,000 square feet of retail and restaurant space, 60,000 square feet of office space and 90 apartments.

The project would be a public-private partnership, an approach the City of Fort Worth has used several times with impressive results.

The Catholic Diocese of Fort Worth plans to be part of the development, eventually moving its headquarters into the planned office building, centralizing the diocese™s operations around Saint Patrick™s Cathedral and a Parish Pastoral Center that is under construction.

The site is on transit routes and within easy walking distance of the Trinity Railway Express. Bike lanes and wide sidewalks would make the development bike- and pedestrian-friendly. It is expected that the project could spur additional development on the Lancaster Street corridor.

 We love hearing news like this! Just another sign that our economy is strong.

 Let us know how we can help you today,

Tracey, Cassy and Sophie

Message from our Mayor -

Working together to address challenges makes Fort Worth an

All – America City

Posted June 20, 2011

For more videos like this one, visit the City YouTube channel.

When you think about the term œAll-America what comes to mind?

Sports heroes? Sure. An All-America athlete is someone who rises above the rest, exceeds expectations, does the hard work to ensure success, and executes the plan that makes all that hard work and preparation pay off.

Well, the same can be said for an œAll-America city.

An All-America city rises above challenges. It sees what needs to be done ” to ensure the best possible quality of life for its residents today and for those in the future ” and it puts in the planning and preparation to not only meet those challenges, but also to provide solutions that go beyond expectations. And just like sports heroes, it recognizes the importance of teamwork when striving to achieve a goal.

None of that is easy ” and none of it would be possible if not for the cooperation and commitment of many talented and dedicated people.

But, that is one reason why we are so proud of the fact that Fort Worth has been chosen as a recipient of the All-America City designation for 2011.

This is the third time our city has been recognized by the National Civic League. We also were recognized in 1964 and 1993. The League began recognizing cities and communities across the nation back in 1949, awarding them for their civic engagement.

Fort Worth was one of 26 cities named as finalists this year, and was picked because we stand as a successful and shining example of what can be done when citizens, businesses and diverse communities work together, think outside the box and find solutions ” not excuses.

We brought the judges in Kansas City three examples of just that.

We talked about our battle to end chronic homelessness and the success of Directions Home, our 10-year plan to achieve that goal.

We shared with them our efforts to fill the gaps in local mental health services, and how the Mental Health Connection has generated more than $45 million in funds and in-kind services to improve mental health care.

And, we gave them an overview of a program that we™re using to address a significant community challenge and erase one of my major pet peeves ” graffiti. A remarkable and creative anti-graffiti program, WAL (We Are Legal), is helping turn things around.

For each challenge, we offered up specific examples of how we worked together ” forging public/private partnerships ” to produce sustainable, reliable, long-term solutions.

But, in each instance, the thing that made the difference ” the real œsecret weapon ” was Fort Worth™s can-do spirit. This successful bid for All-America City status is a remarkable tribute and honor to all of our residents.

Each winning city gets to display the League™s red-white-and-blue seal ” and Fort Worth will proudly do so, because we™ve all done something to earn it.

Another reason we love being a part of Fort Worth!

Congratulations,

Tracey,  Cassy and Sophie  

I™ve just sold a Resale – single family property at 3300 Ridglea Ave in Fort Worth. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

 Buying is Cheaper Then Renting:    With credit qualifying standards increasing, the number of qualified home buyers is decreasing.   The issue is simple.   These clients have to life somewhere.   As a result, the cost of renting  has increased  dramatically as demand continues to increase.   Per my research (along with my wonderful friend Cassy Batts) it appears the average rent payment in Fort Worth is $1246 a month on a 3 bedroom 2 bath home.   Now, the average purchase price in Fort Worth is $142,900.   With today™s historically low mortgage rates, an FHA payment on this specific sales price would run $1142.37.   So, it appears the average home purchase  is $103.63 a month cheaper than the average rental.    There Are Tax Advantages to Homeownership:  Capital Gains Taxes are charged to the profit realized on the sale of non inventory assets that were purchased at a lower price.   So, any profits accumulated from investments are subject to a 15% tax.   However, homeownership  gains/ appreciation are excluded from taxation for principal residences up to $250,000 single and $500,000 for married couples.   The single largest financial benefit to homeownership is you get tax breaks on the interest you pay throughout the mortgage AND pay little to no taxes on gains when you sell.    Homeownership Builds Wealth:  When you own a home, you are forced to save into your forced savings account by paying your mortgage every month.   Even though the contribution is small, you are paying a specific amount toward principal that puts money in your pocket.   Furthermore, the initial down payment created instant wealth and equity in the property.   View this as a savings account you have no access to and cannot touch until you sell.   Forced savings my friends¦..forced savings.    Real Estate as a Long Term Investment  We™ve discussed this topic on a number of occasions however lets hit it one more time.   Real estate was never build as a ˜short term™ investment however the market lost the vision of that in the mid 2000™s.   In the last 10 years, real estate prices have appreciated 40.3% since the Case Shiller August 2000 report.   During that same 10 year time period, the DOW Jones Average lost 7.04%.    Experts Expect Home Prices to Appreciate Starting Next Year:  Macro Markets surveys over 100 housing experts each month to determine the direction of home prices.   Though they all believe values will soften the remainder of the year (-2.08%) they expect stabilization next year (.78%) and three years of increasing values (2012-+2.43%; 2013-+3.2%; 2014-+3.69%).   Remember, these are the national statistics.   Most experts believe our local market will see values back to 2006 levels by summer 2013 and growth around 6%.  

On July 24, 2010 at 14:00 PM, you are invited to an Open House at 3300 Ridglea Ave in Fort Worth. If you are looking for a Resale – single family property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this Resale – single family property, check out my site at traceyamaya.topproducerwebsite.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

　

“Where in the World is Amaya Realty Group?”

I™ve just sold a Single-family property at 1103 Hidden Glade Dr. in Mansfield. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Single-family property at 4320 Donnelly Ave in Fort Worth. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.