Only those living under really big rocks are unaware of the vast increases in North Texas housing prices in the past few years.
Here’s an illustration. In August, the median home price in Tarrant County was $335,000 according to statistics from the Greater Fort Worth Association of Realtors. That figure is less than the previous years, but mortgage rates above 7 percent have increased significantly from 2022.
“Until mortgage rates start to come down, buyers are going to continue to be limited in their price range and therefore their options,” said Bart Calahan, 2023 President of GFWAR. “Home sellers are also feeling restricted, as they consider swapping a loan with a low rate for a much higher one.”
The mortgage rates have caused home buying to cool off, according to Freddie Mac. Construction starts have fallen to a three-year low.
Supply, demand … economics at work here. Getting into real estate can be daunting, and finding something affordable can be tricky. Maybe it’s time to get creative … or maybe it’s time to change where to look … or maybe it’s time to adjust the budget. This week, daltxrealestate.com’s featured open houses will focus on houses at the less expensive end of the North Texas market. Everything in the spotlight this week is $450,000 or less.
2745 S. Jennings Avenue, Fort Worth
The charm of this home dates back to 1928, the year it was built.
A bright blue front door, crisp white paint, and a new fence indicate from the curb that updates await inside this 2,026-square-foot house. Quartz countertops, upgraded light fixtures, French doors, fresh paint, and a replaced roof are among the renovations.
Four bedrooms and two modern bathrooms are part of this $359,900 package. The broad front porch is covered, making it a great place for morning coffee, and the large backyard begs for a swing set, a croquet game, or a picnic table. The location is in the middle of a lot. It’s one mile from Fort Worth’s hospital district, two miles from Texas Christain University, and four miles from downtown.
Listed by Flor Alvarado with Keller Williams Realty, this house will be held open from 1 to 3 p.m. Saturday and noon to 2 p.m. Sunday.
3711 Sistine Mews, Dallas
One story, no stairs on the search list? Here you go.
Listed at $389,999, this three-bedroom, two-bathroom home was built in 2018, and its curb appeal begins with the covered front porch and careful landscaping.
Inside, check out the 10-foot ceilings and bull-nosed corners that give this compact 1,747-square-foot house that little extra. The kitchen’s perks include lots of storage in 42-inch cabinets and a breakfast bar that looks into the living area.
The owners’ suite features a walk-in closet, double sinks, a separate shower, and an oversized garden tub. The other two bedrooms share a common bathroom with granite countertops and 12-inch tiled floors.
Outside, a covered patio stands ready for entertaining. The private backyard is waiting for family and friends to enjoy.
Jennifer Davis with Carrasco Real Estate Company will hold this home open from 2 to 4 p.m. Sunday.
400 S. Washington Street, Pilot Point
What we have here is a piece of history. This Pilot Point landmark was built in 1879 by the McShan family and sits on a half-acre lot.
From the first step inside, the structure’s character is evident. The home’s original staircase, period light fixture, and tall ceilings are evident. But the house has been updated for this millennium with such modern amenities as a dishwasher.
Listed at $449,000, the 2,418-square-foot house offers four bedrooms, two bathrooms, and space for entertaining. The primary bedroom is downstairs with an ensuite bathroom. The house currently is used as both a private residence and a vacation retreat, so the house can be used in flexible ways. Private home or income-producing property? You choose.
This house is to be held open from 1 to 4 p.m. Thursday and is listed by Gretta Buchanan with Ebby Halliday Realtors.
