November 20, 2008

Stimulus News: Currently the Stimulus package is considering a proposed $15,000 tax credit, which applies to all home purchases -- not just new homes and not just first time buyers. It is sponsored by Senator Johnny Isakson, Republican of Georgia, a former real estate broker. He said it was modeled after a similar, $2,000 homebuyer incentive that helped lead the country out of recession in 1975. The tax credit would give buyers 10 percent of the price of a primary residence bought within one year, up to $15,000, and is intended to stabilize plummeting home prices. The amendment would allow taxpayers to claim the credit on their 2008 income tax return and to spread the tax credit over two years. It also seeks to prevent misuse by only allowing purchases of a principle residence and by recapturing the credit if the home is sold within two years of purchase.

The U.S. Senate on Friday also approved an amendment to an economic stimulus bill that would direct $50 billion in funds from the Treasury Department's Troubled Asset Relief Program to foreclosure mitigation efforts. This program is estimated to prevent approximately 2 million foreclosures. The amendment also forces changes in the federal government's $300 billion Hope for Homeowners program to increase participation. Under the amendment, homeowners would have to share 25% of future equity in their home, rather than the current 50% requirement.

In other news:
The National Association of Realtors said Tuesday its index of pending home sales, which measures contracts signed but not closed, rose 6.3% to 87.7 in December from a month earlier.

Moody's Economy.com cites signs that home sales are stabilizing as people snap up bargains on foreclosures, a decline in the supply of unsold homes in many areas and expectations of moves by the Obama Administration "that will help place a floor under the housing downturn." Those measures could include lowering mortgage rates further, preventing more foreclosures and generating jobs through higher federal spending.



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Local Information for Fort Worth, TX

Latitude: 32.738881 -- Longitude: -97.33379


ZIP Codes for Fort Worth, Texas 76101  76102  76103  76104  76105  76106  76107  76108  76109  76110  76111  76112  76113  76114  76115  76116  76117  76118  76119  76120  76121  76122  76123  76124  76126  76127  76129  76130  76131  76132  76133  76134  76135  76136  76137  76140  76147  76148  76150  76155  76161  76162  76163  76164  76177  76179  76180  76181  76182  76185  76191  76192  76193  76195  76196  76197  76198  76199 
Area Code for Fort Worth, Texas 817
Time zone for Fort Worth, Texas CST



Other Area Cities:   Burleson, TX  Arlington, TX  Keller, TX  Fort Worth, TX  Bedford, TX  Benbrook, TX  Colleyville, TX  Crowley, TX  Haltom City, TX  Hurst, TX  North Richland Hills, TX  Richland Hills, TX  River Oaks, TX  Watauga, TX  Westover Hills, TX  Azle, TX  Mansfield, TX 

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Fort Worth is the fifth-largest city in the state of Texas and the 19th-largest in the United States. The city is also large in geographic area as it covers almost 300 square miles and is the county seat of Tarrant County—the 18th most populous county in the country. As of the 2000 U.S. Census, Fort Worth population was 534,694 (though a 2005 Census estimate placed the population at 624,067). The city is the second-largest cultural and economic center of the Dallas–Fort Worth–Arlington metropolitan area (colloquially referred to as Dallas/Fort Worth Metroplex), which is the largest metropolitan area in Texas as well as the entire South, and the fourth-largest in the United States with a population of 5.7 million in 12 counties. Fort Worth was founded as a military camp in 1849, named after General William Jenkins Worth. Today, the city is portrayed as more old-fashioned and laid-back than its neighbor, Dallas. -- Source: Wikipedia.com




Texas 2000 Census Population Profile Map

Fort Worth Texas United States
Population 534,694 20,851,820 281,421,906
Median age 30.9 32.3 35.3
Median age for Male 30.1 31.3 34
Median age for Female 31.9 33.4 36.5
Households 195,078 7,393,354 105,480,101
Household population 519,940 20,290,711 273,643,273
Average household size 2.67 2.74 2.59
Families 127,530 5,247,794 71,787,347
Average family size 3.33 3.28 3.14
Housing units 211,035 8,157,575 115,904,641
Occupied units 195,078 7,393,354 105,480,101
Vacant units 15,957 764,221 10,424,540

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Alfred Buhl - Dodgen Properties, Inc.
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Dodgen Properties, Inc.



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