Quantcast
Photo courtesy of Redfin

In Texas, which boasts the most ranches of any state in the country, it’s fitting that ranch-style homes are the most popular architectural style for residences. Fort Worth especially loves ranchers.

A survey by Trulia, an online marketplace for residential real estate, found that ranch-style homes push aside other types of homes — including Colonial, Cape Cod, Victorian, midcentury modern, Tudor and Georgian — for likability among Texas adults.

As a refresher, ranch-style homes are single-story structures with features like a low roofline, open floor plan, rectangular or L shape, and a stucco, brick, or wood exterior.

In Texas, you can find the most ranch-style homes on the market in the Fort Worth-Arlington area, Trulia reports. Here are the top areas in the state for ranch-style homes listed on Trulia, ranked from the highest percentage to the lowest:

1. Fort Worth-Arlington​
2.
San Antonio​
3. El Paso
4. Dallas-Plano-Irving
5. Austin
6. Houston

Overall, the Trulia survey shows Americans favor craftsman-style homes (43 percent), followed by ranch (41 percent) and Colonial (36 percent). However, most U.S. adults 55 and over (52 percent) vote for ranch-style homes.

“Each architectural style across the country adds character and charm to a neighborhood, making each one unique,” Lynnette Bruno, Trulia’s vice president of communications and research, says in a release.

iStock

Fort Worth's failed home sales are among the worst in the nation

Home Fail

Nationwide, home deals are falling through at a higher rate than they were a year ago, according to Trulia. The areas that have seen the most frequent amount of movement from pending status back to for sale happen to be areas that are popular among first-time buyers. Fort Worth is one such area, ranking fourth in Trulia’s research of where overall home sales were most likely to fail in 2016, and second where most entry-level home sales failed.

In metropolitan areas across the country, first-time homebuyers currently make up 35 percent of total home sales. However, many of those same areas see a high percentage of sale failures, usually because many first-time homebuyers do not bring equity or credit history from a previous home, thus their finances are more highly scrutinized.

A failed sale is not always due to an applicant’s poor credentials, but a deal falling through may be linked to the age or state of the home. In areas like Fort Worth, where there are many historical homes, a higher rate of failed sales occurs — due to not only the popularity of newer homes, but also the issues that can cause the failure of routine home purchase inspections. In fact, newer homes typically see the least amount of sale failures among the different categories of homebuyer, including starter, trade-up, and premium.

The good news is plenty of homes available on the market will survive the financial and inspection scrutiny needed for a successful home sale. If you are considering buying a Fort Worth home in 2017, be sure that all of your finances are intact and know your limits and the local market.

Photo courtesy of Estately.com

Buying a home is cheaper than renting — especially in Fort Worth

Real Estate Report

Saving for homeownership is no easy feat, but the financial benefits typically outweigh the initial cutbacks. With today’s high rental costs and low interest rates, prospective buyers might consider exercising their savings funds sooner rather than later. According to a new study from Trulia, buying a home is currently 37.7 percent cheaper than renting from a national perspective.

Over the past year, the national average interest rate dropped from 3.9 to 3.7 percent. And despite the fact that current low interest rates are likely to rise toward the end of the year, not every renter is rushing to gather a down payment. The chief deterrent is rising home prices, which grew 5.9 percent over the last year compared to a softer 3.5 percent jump in rent prices.

Although prices dissuade many would-be buyers, purchasing a home offers the “best deal” seen since 2012. In each of the top 100 metros, buying is more cost-effective than renting, ranging between a 20 and 50 percent difference in long-term costs. To ease your concerns regarding mortgage rates, the Federal Open Market Committee (FOMC), commonly known as the Fed, would have to at least double rates for the scale to tip in favor of renting. On every front, buying makes the most sense — especially in the South.

Regionally, the South offers the greatest financial benefit of homeownership with eight out of the top 10 best buying metros, including Houston.

Houston’s median home value this fall is $176,513, while the median rent is $1,575 per month, which means buying homes in Houston is 52.9 percent cheaper than renting them. In order for the financials to shift in favor of renting, the median home price in Houston must reach $405,980, while interest rates would have to rise to 14.2 percent. Although neither scenario is likely to occur soon, home prices have a much shorter distance to go compared to the massive hike interest rates must make to tip the scale.

San Antonio is just shy of the top 10 metros where buying is cheaper than renting, at a 50 percent cost difference benefiting homeownership. The median San Antonio home costs $155,273, compared to a median rent of $1,350 per month. In order for buying to become less advantageous than renting in San Antonio, home prices would have to jump to a median $336,942, while interest rates would have to rise to 13.3 percent.

Buying a home in Fort Worth costs a median $174,171, while renting costs $1,450 per month, making homeownership 46.4 percent less expensive than leasing. Buying would only become less advantageous if home prices rose to $346,600 or interest rates jumped to 12.3 percent.

Although Dallas homes share a slightly more expensive median of $215,053, buying is still 47.4 percent cheaper than the median apartment cost of $1,650 per month. Residential real estate prices in Dallas would have to jump to $434,407 in order for homeownership to be more expensive. Meanwhile, interest rates would have to increase to 11.9 percent for this move to occur.

Austin is one of Texas’ pricier metros, with a median home value of $258,297 and a median rent of $1,700 per month. Nonetheless, buying a home in Austin is over 40 percent cheaper than renting. In order for renting to economically outweigh buying, home prices would need to go up to a median $452,020 and interest rates would have to jump to 9.7 percent.

If homeownership is on the horizon but you haven’t quite amassed a 20 percent down payment and closing costs, don’t fear. Interest rates have a long way to go before they tip the scales toward renting. Keep in mind, however, that shifts in home prices could have the greatest impact given the current market. Planning to delay in the hopes of a market slowdown might hurt more than help, especially with home prices climbing nationally.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

'Yellowstone' stars to greet fans at Fort Worth Stock Show & Rodeo

Yellowstone news

Yellowstone fans, get your comfy shoes ready - there'll be a long line for this one. Cole Hauser a.k.a. "Rip Wheeler" on Yellowstone, and Taylor Sheridan, the show's co-creator, executive producer, and director of the series, will meet fans and sign autographs at the Fort Worth Stock Show & Rodeo.

The event will take place from 4:30-6:30 pm only on Friday, February 3. Location is the 6666 Ranch booth near the south end of Aisle 700 in the Amon G. Carter, Jr. Exhibits Hall.

According to a February 2 announcement from FWSSR, "fans will have the opportunity to snag an autograph as well as purchase some distinctive Yellowstone and 6666 Ranch merchandise while also enjoying all the features the Stock Show offers."

The event is free to attend (with paid Stock Show admission) and open to the public.

It's the second year in a row for Hauser to appear at FWSSR; in 2022, he and fellow cast mates drew huge crowds.

Sheridan, a Paschal High School graduate, is no stranger to Fort Worth; he lives in a ranch near Weatherford and filmed 1883, the prequel to Yellowstone, in and around Fort Worth. Currently, another spinoff, 1883: The Bass Reeves Story, is filming in North Texas.

The Fort Worth Stock Show & Rodeo is winding up its 2023 run on Saturday, February 4.

Full lineup revealed for first-ever Fort Worth Music Festival at the Stockyards

Music fest news

The full lineup for the inaugural Fort Worth Music Festival & Conference at the Stockyards has been unveiled, allowing fans and industry insiders to set their schedules to get the most out of the event. Many of the names are Fort Worth favorites.

Designed to be a SWSX-style networking conference for aspiring agents, managers, promoters, and emerging local Texas-based artists, the festival - produced by Live Nation in partnership with Chef Tim Love and Larry Joe Taylor - will feature a variety of panel discussions, keynote speakers, networking opportunities, workshops, and live performances at multiple Stockyards venues over the course of four days, March 1-4.

Kevin Fowler will headline a contingent of four performers to kick things off on Wednesday, March 1 at Tannahill's Tavern & Music Hall.

Fourteen more bands and singers will take the stage on March 2, featuring big names like Josh Weathers and a "Texas Independence Day Jam" starring Ray Wylie Hubbard, Radney Foster, Michael Martin Murphey, Deryl Dodd, Dave Perez, and Larry Joe Taylor. Also performing that day: Dusty Moats, Saints Eleven, Jacob Armitage, Race Ricketts, Midnight River Choir, Shaker Hymns, and Tejas Brothers.

The March 3 lineup will include 11 bands/singers, with notable performers Gary P. Nunn, Roger Creager, and Treaty Oak Revival. Also playing: Randy Brown, Jake Bush, Nick Brumley & Presley Hailie, Graycie York, Jake Castillo Trio, Prophets & Outlaws, Max & Heather Stalling, and Cameron Wrinkle.

Wrapping things up on March 4 will the largest group of the festival, a whopping 17 bands/singers led by Larry Joe Taylor, Stoney LaRue, and Mike Ryan. Also taking the stages will be Honey, Kerri Lick, Amanda Kate Ferris, Angel White, Jake Odin, Tommy Alverson, Jesse Jennings, Jack Barksdale, Courtney Patton, September Moon, Johnny Falstaff, Jarrod Morris, Davin James, and THEBROSFRESH.

Performance venues will include Tannahill’s Tavern & Music Hall, Tannahill’s Tavern Lounge, White Elephant, Atico Restaurant and Lounge, Love Shack, The Barn at Hotel Drover, and Billy Bob's Texas.

Fans can now purchase single-day tickets for the live performances on March 2-4, which do not include admission to the panel discussion side of the conference. The standing room only tickets range from $34-$39, with an option for a three-day pass for $79.

The March 1 performances are only available with a full festival badge or VIP all-in ticket, ranging from $199-$549.

The conference's keynote speaker will be Rick Lambert, of Miranda Lambert Management. Other panelists will include artists Josh Abbott, Radney Foster, and Larry Joe Taylor; chef Tim Love; Brendon Anthony of the Texas Music Office, and more.

The full schedule of performers, panels, and venues can be found at the festival website.


Frontier Airlines clears cheap, unlimited travel pass for takeoff from Dallas-Fort Worth

All you can fly

Cheap flights are at North Texas travelers' fingertips as Frontier Airlines offers its all-you-can-fly summer and annual passes. The “Go Wild” passes really do offer unlimited flights to unbounded destinations — both international and domestic — starting May 2.

Both passes are currently deeply discounted. The summer pass, which runs from May 2 to September 30, is available for $399 (compared with $999), and the year-round pass starting on the same day is going for $1,299 (formerly $1,999).

This deal is best for people who travel light and plan fast. Booking options allow domestic flights to be purchased one day in advance, while international gives a little more leeway, with 10 days, and neither include luggage allowances. Still, bags can be purchased as usual, and since the passes cost about as much as an average or slightly higher flight in their respective farthest reaches, it would only take a few uses to practically pay for itself.

Another consideration is blackout dates; not an insignificant number. There is at least one every month, with other, more restrictive months like March, 2024, blacked out on about a third of dates. The pass also auto-renews, so buyers will need to pay attention or be prepared to extend their travel marathon.

Frontier flies out of Terminal E at Dallas-Fort Worth International Airport. In November 2022, the airlines introduced new service from DFW to Baltimore (BWI), Orange County, Calif. (SNA), New York City (LGA), Raleigh-Durham (RDU), and Montego Bay (MBJ). With the new routes, Frontier now serves 19 destinations from DFW.

“Frontier’s consistent growth at DFW is a tremendous success story,” said Daniel Shurz, senior vice president, commercial, Frontier Airlines, said in a statement at the time of the announcement. “It’s clear DFW will serve a central role in the expansion of our network for years to come."

The straightforward all-you-can-fly deal prioritizes flexible travelers, but offers extensive usefulness to someone willing to work around common travel dates and spend a few extra dollars to pack comfortably. More information about the “Go Wild” passes is available at flyfrontier.com.