As often is heard on one of my favorite radio stations, people love lists. The Fort Worth & Arlington area recently found itself on the top ten list of "10 Cities for Real Estate Steals" that was put out by Luke Mullins in the US News & World Report.
With the recent roller coaster ride of the housing industry over the past decade throughout the nation, the DFW area's ride has been less dramatic. Many regions in the U.S.(California, Florida, Phoenix, Las Vegas) had seen meteoric rises to their property values in the early to mid 2000's only to see them come tumbling down like Lindasy Lohan's career in the past few years. Fortunately for property owners in the DFW area, and largely the state of Texas, they have been sheltered from the large decline in property values. That is why the Fort Worth/Arlington area finds itself at #9 on Luke's list of Cities with Real Estate Steals.
Here is Luke's explanation why Fort Worth/Arlington made his list:
9. Fort Worth/Arlington, Texas: In recent years, home prices in the Fort Worth and Arlington, Texas, area have also grown increasingly undervalued when compared with longer-term averages. The area's price-to-income ratio fell from 3.95 in the fourth quarter of 2005 to 1.89 through the third quarter of 2009. Compared with an average price-to-income ratio of 2.02 for the 15 years before 2003, house prices in the Fort Worth/Arlington area are now relatively undervalued. And with a labor market that is projected to perform better than the national average, home prices in this region are expected to hit bottom in 2011 and begin moving higher, according to Moody's Economy.com.
Brian Heltzel
Putting On The Fix Remodeling
Burleson, TX
www.puttingonthefix.com
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