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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November 20, 2008

Local Information for Fort Worth, TX

Latitude: 32.738881 -- Longitude: -97.33379

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