Hello Fort Worth Insiders!
Big week.
Gov. Greg Abbott wants data center rules written into Texas law in January. On top of that, a builder just bought 1,476 acres in west Fort Worth for 3,800 homes. Another one: the city approved $22.7 million for roads, and 200 acres near the Stockyards were rezoned around a train station. And Lockheed Martin is adding 2,000 Texas jobs, 30 minutes east. Oh, and the mortgage rate held at 7.40%, so Clive has a plan. Hold onto that 3,800. It is a lot of new neighbours.
What it all means for your home: if you are buying, watch where the new roads and homes are going. If you are selling, new supply nearby is something buyers will compare. If you are staying ahead, the data center rules could decide who pays for power and water.
Here's everything you need to know.
Let's go,
Kirstine
Abbott Wants Data center Rules Written Into Law
Gov. Abbott said he wants lawmakers to turn his data center guidelines into law when they return to Austin in January. His list: data centers pay for the power lines they need, use water-saving cooling, report their power and water use, limit noise, lose their sales tax breaks, and give cities, counties and residents more say. He ordered a pause on new permits last month. Early voting starts Oct. 19 and Election Day is Nov. 3.
Why it matters to you: Rules on noise, water and who pays for power lines can affect the area around your home. If a data center is filed near a home you like, find out before you sign.
3,800 New Homes Planned for Far West Fort Worth
Houston-based Hines bought the 1,476-acre Brown Ranch in west Fort Worth. The plan is about 3,800 homes built over roughly 12 years. It also includes 10 parks, at least three amenity centers and 70 acres for shops and offices. Hines must build big road upgrades first, including Walsh Ranch Parkway, West Point Boulevard and Old Weatherford Road. The price was not shared.
Why it matters to you: New homes mean more choices, and also more cars on the west side. Roads built first are a good sign for traffic. Watch builder pricing near Walsh.
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Source: CRE Daily
Fort Worth Puts $22.7 Million Into Roads
City Council approved $22.7 million from developer impact fees for eight road projects. That includes $4.2 million to widen Westport Parkway from SH 170 to Park Vista Boulevard. The state is also rebuilding US 81 from I-35W to Harmon Road in a $75.9 million project, due to finish around January 2028.
Why it matters to you: Builders pay these fees, and the money goes back into roads near new homes. Expect cones on US 81 and Westport Parkway for a while, then an easier drive.
Source: Community Impact
200 Acres Near the Stockyards Get Rezoned
On Oct. 13, City Council voted 10-0 to rezone about 200 acres around the TEXRail North Side Station at 2829 Decatur Ave. Today it is mostly commercial land. The goal is a walkable mix of homes and shops. Single-family homes are not affected. Trinity Metro also breaks ground Oct. 29 on a 2.1-mile extension to the Near Southside and Medical District.
Why it matters to you: New zoning near a train station can bring shops, food and homes closer over time. If you own or plan to buy near the Northside, watch what gets proposed next.
Source: Hoodline
Lockheed Martin Adds $300 Million and 2,000 Texas Jobs
On Oct. 14, Lockheed announced a $300 million expansion of its Grand Prairie plant. The site grows to over 735,000 square feet. About 800 people already make parts there. The company plans 6,000 new jobs across the US, and 2,000 of them are in Texas.
Why it matters to you: More steady jobs along I-30 and I-20 means more people looking for homes in Arlington, Mansfield, Grand Prairie and east Fort Worth.
Source: Lockheed Martin
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Clive's Take: Rates Paused. Don't Cheer Yet.
Quick one this week. The 30-year fixed rate is 7.40% (Freddie Mac, Oct. 15). That is the same as last week and up from 6.27% a year ago. The daily rate from Mortgage News Daily dipped to 7.33% on Oct. 15. Fannie Mae just raised its forecast to 7.4% for the rest of 2026 and 7.5% for every quarter of 2027. In September it said 6.8% and 6.7%. Buyers are starting to stop waiting. They are asking sellers for help and locking their rate.
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, 3% in help is $10,050.
2-1 buydown. On a $300,000 loan, the payment drops about $392 a month in year one and about $200 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 6.27% to 7.40%. On $300,000, that is about $226 more a month.
Lock versus float. Every 0.10 point is about $21 a month on $300,000. A lock stops the next step up.
One thing to know: Fannie Mae built its new forecast before the Oct. 14 inflation report. Forecasts keep moving, so plan around today's rate, not a hoped-for one.
Clive does VA, FHA, Conventional, DSCR, Profession-Based Loans and more. Reply and see what you qualify for at today's numbers.
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🏡 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.
Looking to Buy, Sell, Invest or Develop in & around DFW? We should talk: 682-442-3441