Hello Fort Worth Insiders!
🎃 HAPPY HALLOWEEN! 🎃
America's biggest home builder, Arlington's D.R. Horton, just said deals on new homes will stay BIG through 2027, with 8,800 finished homes sitting unsold across the country. On top of that, a company called Beacon Modular wants to bring 600 jobs averaging $91,000 to the Alliance area, and council votes Nov. 10. Another one: Fort Worth offered a 65% tax break to land a $1.3 billion chip plant with 630 jobs. And Panther Island finally breaks ground on Nov. 30, after more than 20 years of plans. Clive also has a take on the mortgage rate, now 7.24%. Keep one number in mind: 23% of D.R. Horton's buyers cancelled their contracts.
What it all means for your home: if you are buying, ask builders for their deals in writing (or better yet - have us do it for you to make sure nothing is missed). If you are selling, price it right with us from day one. If you are staying ahead, watch where the jobs and the new parks land.
Here's everything you need to know.
Let's go,
Kirstine
Builders Say Deals Last Into 2027
D.R. Horton is the biggest home builder in the country. On Oct. 29 it said it expects incentives to stay high through 2027. Buyers cancelled 23% of contracts, up from 20%. A day earlier, Green Brick Partners, the company behind Trophy Signature Homes, said its average price fell 12% to $446,700.
Why it matters to you: On a new build, the sticker price is only a start. Ask for the incentive sheet before you ask about the price.
Want to see where these deals are? Reply back and I will get you a current list of their inventory with the best incentives that save you money.
Source: D.R. Horton and Yahoo Finance
600 Jobs at $91,000 Could Land at Alliance
Beacon Modular builds ready-made electrical systems for big projects like data centres. It wants a new plant in the Alliance area of north Fort Worth. The plan is at least 600 full-time jobs by December 2029, with pay averaging at least $91,000. Fort Worth would give up to $100,000 a year for five years. Council votes Nov. 10, and nothing is final until then.
Why it matters to you: More good jobs near Alliance help keep demand steady in Keller, Haslet, Roanoke and north Fort Worth.
Source: Community Impact
Fort Worth Offers a Tax Break for a $1.3 Billion Chip Plant
On Oct. 27, council approved a 10-year tax break to try to land King Yuan Electronics, a supplier to Nvidia. The plant would test computer chips at 273 W. Everman Parkway, off I-35W. It promises 630 jobs paying at least $80,000. The break is 65% off city property taxes. The city still expects about $26.8 million in new tax money. Nothing is signed yet.
Why it matters to you: A big employer on the south side could bring more buyers to south Fort Worth, Crowley and Burleson.
Source: Yahoo News
Panther Island Breaks Ground Nov. 30
The first piece of Panther Island you can walk on has a date. Work starts Nov. 30 on canals and a 3-acre park at the old Coyote Drive-In site off North Main. Four canals are planned, with walking paths. The big bypass channel starts this winter or in early 2027, and it should finish in 2029. Council also hears plans on Nov. 10 for two 20-storey towers and an 18-storey hotel next door.
Why it matters to you: When a city builds parks and paths, nearby land values often follow. If you own near North Main, you now have a timeline to watch.
Source: Fort Worth Star-Telegram
💰 FOUNDATION TO FUNDING WITH CLIVE IN MORTGAGES He built the homes. Now he funds them. #FoundationToFunding
Clive's Take: Builders Blink. Rates Do Not.
Quick one this week. The 30-year fixed rate is 7.24% (Freddie Mac, Oct. 29). That is down from 7.32% last week and up from 6.17% a year ago. Mortgage News Daily had it at 7.35% after the Fed held rates on Oct. 28. Fannie Mae's mid-October forecast is 7.4% for the rest of 2026. Buyers are starting to stop waiting. They are asking sellers and builders to pay for the help instead.
Here's what's actually moving the payment right now in Fort Worth:
Seller help. Fort Worth homes sold for 96.5% of the first asking price in September (NTREIS). On the $335,000 median, that gap is about $11,700.
2-1 buydown. On a $300,000 loan at 7.24%, the payment drops about $390 a month in year one and about $199 in year two. That is principal and interest only.
Price versus rate. The Fort Worth median rose 0.4% in a year (NTREIS). The rate rose from 6.17% to 7.24%. On $300,000, that is about $213 more a month.
Lock versus float. Every 0.10 point is about $20 a month on $300,000. Markets see about an 85% chance of a Fed hike in December. Floating is a bet.
One thing to know: Freddie Mac's rate is a weekly average. Mortgage News Daily moves every day. Ask for a quote on the day you plan to lock.
Clive does VA, FHA, Conventional, DSCR, Profession-Based Loans and more. Reply and see what you qualify for at today's numbers.
📍 Reply with APPLY to connect with Clive or Click Here NMLS #2639452 & 2821824
This Week Around Fort Worth
Start with Halloween Saturday, Oct. 31. Día de los Muertos en Fort Worth fills Marine Park with a parade at 10 am and a free festival from 11:30 am to 5 pm. Then head to the Stockyards for Treat Street, free trick-or-treating and a Halloween show from noon to 4 pm. When the kids are tucked in, make it a night out. Jersey Boys plays Bass Hall Tuesday through Friday, Nov. 3 to 6, at 7:30 pm, with tickets from about $146. And on Friday, Nov. 6, Greg Warren brings the laughs to Hyena's Comedy Night Club at 6:45 pm, from $39.
🏡 I'm Kirstine Openshaw, Top 250 Fort Worth Texas Realtor. Clive and I own the Fort Worth Pulse Realty Group. I get you the home. Clive gets you the loan.
Want to know what buying or selling a home in this Market looks like? Reply back & lets talk.