Fort Worth-Arlington was ranked No. 1 on the Forbes list of housing best buys in 2014. In the Forbes listing, cities were ranked based on housing markets still considered “undervalued” in prices and that offer some of the largest job growth in their economies. According to the report, prices in Fort Worth-Arlington are 20 percent below their actual value.
Fort Worth also topped a CNN 10 Hottest Housing Markets list for 2014, coming in as the second hottest housing market in the country, just behind Oakland, Calif. The CNN ranking is based on the last 12 months ending in September 2014. Unlike Oakland, however, where home price growth is expected to slow to 4.5 percent annually over the next five years, Fort Worth is expected to continue to grow. Forbes predicts a 25 percent growth forecast in the next three years.
According to a 2014 Texas Association of Realtors Luxury Home Sale Report, Dallas-Fort Worth saw a 22 percent jump in luxury home sales. As our local economy and population continue to accelerate, we’re going to see increasing development and demand in larger, higher-priced homes with extravagant amenities.
So, what does this all mean? It means it's a great time to live in Fort Worth. I’m thinking maybe I should get my real estate license because a lot of houses are going to be sold in the Fort Worth area in the next few years.
One luxury home that was sold recently by HGC Real Estate Services was our 2014 Fort Worth, Texas magazine Dream Home. Not only did HGC sell the house, its sister company, HGC Residential Development, built it, and its in-house interior design firm, CWI Interior Designs, handled all of the design services.
The 5,640-square-foot Spanish Colonial home (7,265 square feet under roof) is located at 4800 Estonia Court in Montserrat, off Team Ranch Road in Southwest Fort Worth. The Dream Home, which benefits a Wish with Wings, will be open for touring from Sept. 20 through Oct. 19. All of the touring proceeds go to the charity.
Speaking of luxury, this issue is full of it. From the Italian sports cars matched with men’s perfectly tailored fashions in Style and Drive (page 50) to a cultural respite in Providence, Where Fire Meets Water (page 28), you won’t be disappointed.