Rick's Opinion Of  the Real Estate Market in the Next Several Years For North Texas
August 2007 - Market Correction
In my opinion the next two - three years is going to be an exciting time in the real estate market. Having been an active real estate broker in the late 1980's and early 1990's, I experienced first hand a "Bad" real estate market. When it was "Bad" business was Real Good!
After the dust settles from the past several weeks, we will see what mortgage companies are left. In the next 6 to 8 months we should see more foreclosed properties coming on the market. These will continue to be in record numbers. As of the last report I saw, Tarrant County was #13 in the Nation.
More people will have to rent - two reasons for this -qualifying for a mortgage will be more difficult due to tighter lending guidelines- sub prime lending will be less available and people losing their homes in foreclosure will have to rent.
More Real Estate Auctions - REO departments will sell a larger inventory at auctions to generate cash quicker by not having to put a home on the regular retail market and have to wait for it to be sold.
Many new homes built in the last 1-5 years will be foreclosed on. The buyers got in with little or no money down and have zero equity. If they try to sell in the regular retail market they are competing with the builders. Builders will also be discounting homes in inventory for a quick sale to generate cash.
Interest Rates will go up some but because of the 2008 Presidential Election should remain close to what it is now.
All in all we will see a real buyers market with less qualifying buyers and a glut of homes to buy.

Opportunities in the Real Estate Market
REO Properties
Short Sales
Pre-Foreclosure
Foreclosures
Government Homes - HUD / VA
Wholesale Deals
Great Time to Build a Rental Property Portfolio
Regular Real Estate Market
Estates and Probate

Here are the Real Estate Investor Groups in Dallas and Fort Worth.
If you are interested in learning as much as you can about investing in real estate these are the best places to pick up good information.
Hope to see you at one of the meetings.
Real Estate Investor Group Meetings

The Aireo (America Investors in Real Estate Online)
Check out their web site for details.
http://www.aireol.com/

The Dallas Fort Worth Real Estate Investors Network
Check out their web site for details and meeting times.
http://dfwrein.com/

The Fort Worth Real Estate Investors Organization (REIO)
Meets on the 4^th Thursday of the month.
http://reio-fw.com/

The best kept secret is the weekly Real Estate Investor meeting. The meetings are held every Saturday at 11:30 AM. There is no charge for the meeting. Robin Carriger is the leader of the group.  Contact me for the meeting location.  Find out what Real Estate Investing is all about. Be sure to stop by before you spend $1,000 of dollars on books and CD or boot camps!

Hope you make a lot of Money in Real Estate!!

Rick Irving
United Country - Rick Irving Realty
Rick Irving Auction Services
6040 Camp Bowie Blvd. Suite One
Fort Worth, Texas 76116
Direct Line: 817-832-6320
mailto:cowtown@usa.net
http://www.sweethometexas.com/

Aledo is a community in eastern Parker County. The town of Aledo is a few minutes south of Interstate 20. Aledo has become a favorite place for many people from the "big city" of Fort Worth to live. Homes range in price from a low of $60,000 to a high of several million dollars. Many homes are are a half acre or more. Aledo is home to Aledo High School home of the fighting Bearcats.

Go Bearcats!

What is the deal with agents that make an appointment to show a listing then they don't show it and they don't cancel the appointment so the home owners and the listing agent are aware the showing did not take place? I have thought it was a common courtesy to let the agent or the showing service know you need to CANCEL the appointment. It doesn't bother me as much when it is a vacant home but when it is an occupied home and the owners have had to prepare the home for the showing, it would be nice to at least be informed the showing would not happen as planned. Am I wrong to expect an agent to cancel a showing appointment?

 In the early history of Fort Worth Texas one area of Downtown Fort Worth was known as Hell's Half Acre. This location was one of the most notorious high crime Red Light District. Hell's Half Acre started during the city's heyday as a stop for cowboys taking cattle to Kansas in the early 1870s. As the Half Acre became more popular the area covered more than two acres and the level of crime and violence also grew. It wasn't until a Baptist Preacher named J. Frank Norris in 1911 began to link certain businessmen with property in the Acre and he announced their names from the pulpit at the First Baptist Church in Fort Worth. As the battle against Hell's Half Acres heated up in 1912, Norris's church was burned to the ground.  Norris continued the attacks on the Acre but accomplished little until 1917 and Camp Bowie was located on the outskirts of Fort Worth to train troops for World War One. A new city administration and the Federal Government joined forces with Norris and martial law was brought to bear against prostitutes and barkeepers of the Acre.

Some of the more famous people to frequent Hell's Half Acre were Sam Bass, Butch Cassidy and the Sundance Kid.

The area when Hell's Half Acre is now in the Business District of Downtown Fort Worth near the Tarrant County Convention Center.

For those familiar with the Westside of Fort Worth one of the landmarks is Camp Bowie Boulevard. Camp Bowie is the famous Red Brick Road. The Boulevard starts at the intersection of 7^th Street and University and continues west then become Camp Bowie West. Camp Bowie has been a favorite place for young people to go cruising for decades. In the 60's and part of the 70's Griff's was the place to meet people. That was when I was growing up. Now the place to hang out must be the Sonic Drive In. The old Ridglea Theater is another landmark on the Boulevard. It is just west of the intersection of Camp Bowie and Bryant Irvin Road. It once was the picture show but now is a place where bands play. Most of the bands that play at the Ridglea are bands that teenagers listen to. However, about 3 years ago I went to see Willie Nelson at the Ridglea. Camp Bowie is also the home to many great places to eat. The Café Aspen is one of the best.

If you are driving down the Boulevard and past 6040 Camp Bowie, horn your horn and I will wave to you, that is the location of my office. Enjoy the ride on the Boulevard and be safe.

The Cowtown Marathon - Every year in late February the annual Cowtown Marathon is held. Thousands of people run the marathon - half marathon -the 10K or the 5K. I for one have never finished the marathon only because I did not enter. I use to be a runner but one day I quit running and haven't run since. However, I do enjoy watching the runners in the marathon. There is just something special about people that have what it takes to run the marathon. Most runners are not running against other runner but are running to prove to what ever it is within that they can finish. How great it must feel to attempt a marathon and finish. My hat is off to all those who enter the race!

If you get a chance to see the runners give them a hand because they are trying. Have great race runners I will be cheering you on! The event is every February.

Since 1958 Sweetwater Texas has hosted the Rattlesnake Roundup It is held during the second weekend of March at the Nolan County Fair Grounds. There is plenty of things to do and plenty of Rattlesnakes to see. If you want you can even go on a guided Rattlesnake hunt or just hang back at the fair ground a eat some rattlesnake.
Hope to see you at the World's Largest Rattlesnake Hunt in Sweetwater!

Silver Fox Steakhouse in Fort Worth serves the best U.S.D.A Prime Steak, Lobster and Seafood. If you are in Fort Worth come by and eat a delicious meal. My favorite meal starts with the Shrimp Remoulade Appetizer and a main course of either the Prime Pepper Steak or the Australian Lobster Tail with Asparagus and mushrooms with wine sauce. A meal is not complete without a to die for desert.
When you stop by the Silver Fox Steakhouse tell Ozzie the Rick sent you.

The Silver Fox is located at1651 S. University Drive. To make reservations call (817) 332-9060.

Texas Christian University the home of the Horn Frogs. Located in Fort Worth, Texas, TCU was founded in 1873. TCU has an enrollment of over 8800 students. TCU offers 100 undergraduate majors, 20 graduate degrees in 54 areas and 12 doctoral fields of study. TCU ranks in the top 5% of the 3,500 universities and colleges in the nation.

Stop by for a visit and see if TCU isn't a great place!

GO HORN FROGS!