Friday, April 24, 2009

Fort Worth Added More Residents than any other North Texas City in 2008


Newly built homes dot the skyline west of I-35W at North Tarrant Parkway in far north Fort Worth.


Fort Worth continues to lead the way for growth in the Metroplex.

Cowtown added 17,400 residents last year — up from 16,000 in 2007 — and now has a population of 720,250, according to figures released Thursday afternoon by the North Central Texas Council of Governments.

But while Fort Worth continues to boom, growth overall in the 16-county North Texas region has slowed, mostly because of declines in the housing market.

Overall, the region’s population grew by 92,480; the first time the estimated growth was less than 100,000 in 13 years. Last year, the region added 131,000 residents.

Duane Dankesreiter, manager of research and information services for the North Central Texas council, said the slower growth reflected the mortgage crisis and broader economic recession. Both are scaring off residential construction in the area. Just 27,339 single-family units were built in the region in 2008, a 30 percent drop from the year before.

Construction of new multifamily units kept pace with previous years.

"We still have people coming into the region, but it’s definitely slowed," Dankesreiter said. "I don’t think it will go too much lower, given that our economy is still better than most out there."

Fort Worth was the leader in growth, but Dallas and Arlington grew as well, Dallas by 6,000 residents and Arlington by 1,300. Tarrant County as a whole gained 27,650 people last year, more than any other county in the North Central Texas region, which is anchored by Dallas, Tarrant, Collin and Denton counties.

Fort Worth Mayor Mike Moncrief attributed the city’s growth to its unique quality of life and diverse work force. But with the growth comes the need for more police, fire and other city services.

"As the city grows and our numbers grow, then the demands grow accordingly," Moncrief said. "I’d much rather have 17,400 new people than lose 17,400 Fort Worth citizens, any day."

Dankesreiter admitted to being surprised by Fort Worth’s resilience. He had not expected to see the city add more people in 2008 than it did in 2007, he said. He guessed that the new jobs created by the Barnett Shale – a huge natural gas field that lies beneath Fort Worth and other parts of North Texas -- may have been an important factor.

Moncrief agreed that jobs related to activity in the Barnett Shale have helped insulate the city from economic problems that other parts of the country are experiencing.

"I know that Fort Worth is not bulletproof," he said. "I do believe we are going to be affected less. I think we’re going to be affected last."

Mansfield leads the charge

Mansfield saw the largest percentage growth in Tarrant County, a 5.2 percent jump, bringing the city’s population to 55,950. Spokeswoman Belinda Willis said the city’s building boom began to ebb about four years ago, after several years of seeing requests of more than 1,000 single-housing permits annually.

"If that trend had continued, we’d actually be at 65,000, but that trend has backed off for quite awhile now," Willis said.

Roanoke in Denton County also saw a large increase, growing by 800 people, or 13 percent, to 6,950 people.

Farmers Branch leads Dallas County

In Dallas County, Farmers Branch had the biggest growth, jumping 8.1 percent to 31,100 people. Spokesman Tom Bryson said city leaders have been working to foster quality mixed-use and multifamily developments. A 2-year-old controversy over aggressive measures to force out illegal immigrants in the city had spurred concerns that it might deter the city’s growth.

"I’d say that if you go through anecdotal information, obviously you hear things on both sides, but I think the numbers speak for themselves," Bryson said.

Nearby Addison had by far the largest population drop in the region, of 12.4 percent, which Dankesreiter attributed to the city’s demolition of several multifamily units to make room for a new mixed-use development.

The Council of Governments’ population estimates are based on current housing inventories and weighed against other statistics including occupancy rates and labor force estimates.

AMAN BATHEJA, 817-390-7695
abatheja@star-telegram.com
Star-Telegram

Friday, April 17, 2009

2009 Spring Tour of New Homes

Looking for a new home? Curious what the 2009 new home builder has to offer in a new home? Looking for decorating tips that will set you apart from all your neighbors and friends? Well, come out to the 2009 Spring Tour of New Homes and see.

May 1-3, May 8-10, & May 15-17

This year there will be over 70 homes ranging from $110,000 to $2.3 million in Denton, Hood, Johnson, Parker, Tarrant and Wise Counties.

For details check out the website below for times and locations to pick up the Tour Book.

www.fwspringtour.com

Check it out! You will be glad you did!

Fannie Mae and Freddie Mac Helping More Homeowners - Loan Modifications Increasing

Fannie Mae and Freddie Mac Helping More Homeowners - Loan Modifications Increasing
RISMEDIA, April 17, 2009-Fannie Mae and Freddie Mac modified nearly 24,000 loans during the fourth quarter of 2008, an increase of 76% over the third quarter. The modifications, along with the suspension of foreclosures that began November 26, reduced the number of foreclosures by nearly 27% during the quarter, according to data released by James B. Lockhart, Director of the Federal Housing Finance Agency (FHFA), as part of the Foreclosure Prevention Report for the fourth quarter for 2008.

The FHFA report details the actions Fannie Mae and Freddie Mac have taken to prevent foreclosures and keep people in their homes. It analyzes data provided by the companies with adjustments to account for the impact of the foreclosure suspension. The suspension, originally set to end Jan. 9, 2009, was later extended to Jan. 31, 2009.

“Fewer homeowners are losing their homes as a result of the foreclosure prevention efforts,” said Director Lockhart. “We expect the numbers of those getting relief to grow further as the Making Home Affordable program picks up speed in coming months.”

The foreclosure prevention options include forbearance plans, payment plans, delinquency advances and loan modifications. Workout options that led to resolution of delinquent accounts, which means the account was either reinstated or removed from the portfolio, increased 15% in the last quarter of 2008.

The report shows that as of Dec. 31, 2008, of the Enterprises’ 30.7 million residential mortgages:

• Modifications represented 34.0% of fourth quarter loss mitigation actions up from 22.2% of the third quarter.
• Completed payment plans represented 19.0% of fourth quarter loss mitigation actions compared to 24.2% of the third quarter.
• Short sales represented 8.9% of fourth quarter loss mitigation actions compared to 7.7% of third quarter.
• Deeds in lieu represented 0.8% of fourth quarter loss mitigation actions compared to 0.7% in the third quarter.

As a result of increased loss mitigation efforts and the foreclosure suspensions, the overall loss mitigation performance ratio (loss mitigation actions as a percentage of mortgages for which foreclosure was likely) for mortgages serviced on behalf of Fannie Mae and Freddie Mac, increased from 55% during the third quarter of 2008 to 65.7% in the fourth quarter. For prime loans, the ratio increased from 45.1% to 54.2%, and for nonprime loans from 64.7% in the third quarter to 75.3% in the fourth quarter.

Suspensions gave servicers more time to work with borrowers in foreclosure who were eligible for the Streamlined Modification Program introduced in early November 2008. The impact of the suspensions caused December 2008 numbers for completed foreclosure and third-party sales to decline and for total loans, 60-plus, and 90-plus-days delinquent loans to increase.

When adjusted to account for foreclosure suspensions, the month-over-month change in the delinquency rates decreased. The month-over-month change in the 60-plus-days delinquency rate from October 2008 to November 2008 was an increase of 14.39%. The month-over-month change from November 2008 to December 2008 was an increase of 9.31%.

For more information, visit www.fanniemae.com or www.freddiemac.com.

Thursday, April 2, 2009

Chef' Point Cafe on Food Network



Chef Point Cafe

Look for us on

Food Network's
Diners, Drive-Ins and Dives

Monday, April 6, 2009
9pm
Check your local listing
for more information

A Unique Fort Worth, TX Restaurant

Gourmet chef Franson and his wife Paula Nwaeze chose an unusual place to open an upscale Fort Worth restaurant.

A Conoco gas station in Watauga, TX.

How the Chef Point Café came to be there is a funny story of perseverance and creativity.

Quirky and fun, Chef Point Café’ has as its motto: Fill'er-up outside, fill'er-up inside. While you relax and await one of the chef’s signature dishes, you’re welcome to thumb through the latest issue of Auto Trader or buy a scratch off lotto ticket.

But don’t expect the usual convenience store fare.

A mixture of hearty American comfort food and Italian cuisine, the Chef Point Café menu includes such delectable culinary creations as crab cakes topped with roasted bell pepper, lobster bisque, and grilled sea scallops in garlic butter.

And don’t you dare visit the Chef Point Café without tasting the bread pudding smothered in hot cognac sauce, the bread pudding voted best among Fort Worth restaurants.

(817) 656-0080
5901 Watauga Rd
Watauga, TX

If you have not experienced Chef Point Cafe you don't know what you are missing. The food is beyond words, the wait staff is friendly, the dress if comfortable and the prices are good! Check it out..See for yourself..You will be glad you did.