Rick's Blog

Market Correction August 2007 - North Texas Forecast

United Country Rick Irving Realty — Thu, 30 Aug 2007 08:22:52 -0500

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

Dallas Fort Worth Real Estate Investor Groups

United Country Rick Irving Realty — Tue, 27 Feb 2007 22:09:09 -0600

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 Bearcats

United Country Rick Irving Realty — Tue, 27 Feb 2007 21:26:03 -0600

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!

Showing Agent does't show up for showing appointment and doesn't cancel!!

United Country Rick Irving Realty — Tue, 27 Feb 2007 21:08:12 -0600

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?

Hell's Half Acre

United Country Rick Irving Realty — Tue, 20 Feb 2007 21:18:31 -0600

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.

Camp Bowie Boulevard

United Country Rick Irving Realty — Tue, 20 Feb 2007 18:04:48 -0600

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

United Country Rick Irving Realty — Tue, 20 Feb 2007 17:51:19 -0600

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.

Sweetwater Texas Rattlesnake Roundup

United Country Rick Irving Realty — Tue, 20 Feb 2007 04:42:15 -0600

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!

The Silver Fox Steakhouse in Fort Worth

United Country Rick Irving Realty — Mon, 19 Feb 2007 19:59:36 -0600

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

United Country Rick Irving Realty — Mon, 19 Feb 2007 19:39:35 -0600

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!

Fort Worth Botanical Gardens

United Country Rick Irving Realty — Mon, 19 Feb 2007 19:28:07 -0600

The oldest Botanical Gardens in Texas is located in Fort Worth, The Fort Worth Botanical Gardens is located on University Drive just south of the Will Roger Center. The gardens consist of 109 acres and is home to over 2,500 species of native and exotic plants. There are 21 specialty gardens including the famous Rose Garden and the world-renowned Japanese Garden.

Visit the Fort Worth Botanic Gardens for outdoor enjoyment and relaxation.

The Realtor and the Camera

United Country Rick Irving Realty — Sun, 18 Feb 2007 11:34:00 -0600

In the past few years Realtors have had to become photographers. Each year our office takes, edits and post hundreds if not thousands of pictures on the Internet. It seems almost everyday there is a better camera coming on the market. In our household alone we have at least 8 digital cameras. I use an Olympus I have had for 4 or 5 years. A few things I have learned in my life about digital cameras are:

You must have good batteries. I like to purchase cameras that use a AA battery. The best battery I have found are Duracell AA NiMH Battery and Charger found at most Electronic Stores like Circuit City, Compusa, Best Buy or Wolf Camera .

The second and most important tip I have learned about digital pictures is you must have some software to re-size the pictures. I really struggled with this one. I was shopping around for some software to re-size pictures and I went to a CRS Class and found out about some "FREE" software to re-size pictures. It is called image re-sizer from Microsoft. It is in the powertoys down-loadable software at Microsoft.com . Just getting this program alone was worth the tuition of the CRS Class. Once installed on your computer, all you have to do is select a picture and do a right click and it will resize the picture so it is easier to send via email.

For a good evaluation of camera and camera equipment Digital Photography Review is the best site on the web.

The best thing I like about digital cameras it the ability to take thousands of pictures and not have to have film developed.

Good Luck with all your picture taking and may your digital camera make you thousands of dollars. Remember those pictures you take can often sell someone on the home with just a click of their mouse!

Rick

Democrats, Republicans, Libertarians - Politics and Real Estate- What to Do?

United Country Rick Irving Realty — Sat, 17 Feb 2007 18:38:09 -0600

With the Presidential Election of 2008 already taking a larger amount of newsprint so early in the election. Do you or don't you express your political views in your real estate business? My thought is if I had a bumper sticker on my vehicle supporting one party or another it might turn off either clients or potential clients. What do you think and how do you handle it?

The Fort Worth Nature Center

United Country Rick Irving Realty — Sat, 17 Feb 2007 16:57:50 -0600

Give me a home where the buffalo roam. That can be the Fort Worth Nature Center located in the city limits of Northwest Fort Worth. The Fort Worth Nature Center has a little bit of everything from forests, prairies, wetlands and plenty of wildlife. Besure to plan a day to enjoy nature at it's best and bring some comfortable shoes. It is a great place to take in the fresh air and listen to the sounds of nature. For more information check the Fort Worth Nartue Center out at http://www.fwnaturecenter.org/.

The Friday before a Monday Holiday

United Country Rick Irving Realty — Sat, 17 Feb 2007 16:46:39 -0600

I never like to close escrow on Friday and I never put a close of escrow date in a contract for a Friday. After 24 years of selling real estate I come to find out that things can happen on Friday that can upset people. If the loan doesn't fund before Friday afternoon then it is Monday or in the case of this Friday, February 16, 2007 it will will be Tuesday before the banks are open and the funding can take place. There can also be issues with utilities not being turned on or transfered late in the week. There is nothing more heart breaking than a seller that must have the proceeds to close on the home they are moving to and a buyer excited about moving in over the weekend both having to wait until the following Monday or Tuesday if Monday is a holiday to fund. As hard as I work to close escrow on any-day but Friday some times it just happens. There are some temporary leases that may be made to help ease the situation but it is just something I don't like to have happen.

Do you have any Friday Afternoon Close of Escrow stories?

The Value of Toastmasters

United Country Rick Irving Realty — Fri, 16 Feb 2007 11:45:00 -0600

Toastmaster Comparisons

Fred Pryor Seminars (team building, mentoring, coaching skills) $179, 1 day

Hypnotist Presentation Skills training (overcoming fear of public speaking) $60, 3 audio CDs

American Mgt. Association seminar (Be more persuasive and convincing in every meeting) $1995, 3 days

Second City Television communications workshop $595, 6 hours

Zig Ziglar's Seminar (thinking on your feet, presentation skills, voice, volume, etc.) $1095, 2 days, DVD

Media Training Worldwide (Imagine yourself dazzling your audiences, every time you speak!) $1995, 2 days

Toastmasters International, (weekly opportunities for all of the above) $58 yearly

(includes local club dues of $4)

For more information and to find a Toastmasters Club near you visit Toastmasters International.

The Power of the Ugly Yellow Signs

United Country Rick Irving Realty — Wed, 14 Feb 2007 21:47:00 -0600

Several years ago at The Main Event, I learned from Terry Hunefeld of By Referral Only about using an "Ugly Yellow Sign" to increase calls on listings. He taught me to use the handwritten sign with a toll free number to capture more calls. I used the "Ugly Yellow Signs" for several years but then for some reason stopped using them. This past weekend I decided to use the "Ugly Yellow Signs" with a different twist. I have about 10 REO properties listed for different banks. I thought what could I do to get more calls using an "Ugly Yellow Sign". I got some sign stock and simply wrote:
"Foreclosed Home Bank Says SELL IT!!"

I placed the signs on 10 of the REO Properties along with my regular real estate sign and within 2 hours had 3 calls on homes. When I asked each caller what home they were calling about they said "the home with the yellow sign that says the bank wants to sell it". Since placing the signs in the yard with our regular real estate sign we have had more calls than usual and more showings. Terry Hundfeld was right about the increase in calls you will have when you have 2 signs in a yard.

It is a simple and inexpensive way to increase calls. Only $3 for the sign material and $2 for the stake, what a deal!

Lockheed Martin Second Largest Employer in Tarrant County

United Country Rick Irving Realty — Tue, 13 Feb 2007 07:05:21 -0600

Lockheed Martin Second Largest Employer in Tarrant County. Lockheed Martin located in the west side of Fort Worth is Second Largest Employer in Tarrant County. An estimated 15,900 people work at the massive mile long plant. The plant known as Air Force Plant 4 is on a 602- acre government- owned contractor-operated aircraft manufacturing facility. The plant has been in continuous operation producing aircraft since 1942. Aircraft built at the plant include B-24, B-32.B-36, B-58, F-111, F-16, F-22 and the F-35. For Employment

Cowgirl Museum and Hall of Fame

United Country Rick Irving Realty — Mon, 12 Feb 2007 21:17:46 -0600

The National Cowgirl Museum and Hall of Fame is located in Fort Worth, Texas. The museum is the only museum in the world dedicated to honoring and documenting the lives of women who have distinguished themselves while exemplifying the pioneer spirit of the American West. The next time you are in Fort Worth stop by the Museum and learn more about the great women who have helped tame the west.

The museum is at 1720 Gendy Street, Fort Worth, Texas 76107

Kimbell Art Museum Fort Worth, Texas

United Country Rick Irving Realty — Mon, 12 Feb 2007 20:41:01 -0600

The Kimbell opened in 1972. The museum is widely regarded as one of the most outstanding modern public art-gallery facilities in the world. The Kimbell Art Museum's holdings range in period from antiquity to the 20th century, including masterpieces by Duccio, Fra Angelico, Mantegna, Caravaggio, El Greco, La Tour, Rubens, Velázquez, Rembrandt, Houdon, Goya, David, Monet, Cézanne, Picasso, Matisse, and Mondrian.

The Kimbell Art Museum located at 3333 Camp Bowie Boulevard, Fort Worth.

Admission to the permanent collection is free. There is a charge for Special Exhibitions.

A trip to Fort Worth should include a visit to the Kimbell.

Western Art in Downtown Fort Worth

United Country Rick Irving Realty — Mon, 12 Feb 2007 20:29:10 -0600

The Sid Richardson Museum is home to a collection of Frederic Remington and Charles M. Russell works. In 1942 Sid Richardson the legendary Texas oilman began collecting the works of Remington and Russell. In November of 2006 the Museum completed a year long renovation. The museum is located at 309 Main Street, Fort Worth, Texas. Admission is free.
Hope to see you at the Sid Richardson Museum next time you are in Fort Worth!

Rick Irving

Benbrook

United Country Rick Irving Realty — Sun, 11 Feb 2007 10:20:19 -0600

Benbrook Texas is a community southwest of Fort Worth Texas. Benbrook is located near the intersection of Hwy. 377 and Interstate 20. Benbrook is home to Lake Benbrook, a lake built by the Corps of Engineers on the Clear Fork of the Trinity River. Living in Benbrook offers the feeling of a small town but has all the conveniences of Fort Worth. With many parks and several golf courses it is a great place to play as well as live.Only minutes away from major shopping and hospitals.

Ridglea Hills

United Country Rick Irving Realty — Sun, 11 Feb 2007 09:47:37 -0600

Ridglea Hills is an addition of couse located in some "hills". The "hills" are not really much to talk about and are not hills as most folks would think of. However, in Fort Worth we call them "hills". The area is several miles West of Downtown Fort Worth just South of Camp Bowie. Most of the homes in the area were built in the 1950's. The area has 2 small lakes with homes built around them and nice mature trees. The neighborhood is a nice place to walk but walking is limited to the street since there are no sidewalks. The area offers easy access to I-20 and I-30 and it is only minutes to two large Malls.

Rivercrest

United Country Rick Irving Realty — Sun, 11 Feb 2007 09:36:19 -0600

Rivercrest is an area surrounding the Rivercrest Country Club in West Fort Worth. The area is located on a Bluff overlooking the Trinity River. Just a few miles from downtown Fort Worth and North of Camp Bowie Blvd. There are many homes in the Million Dollar range in this area. The streets are lined with lovely trees and the sidewalks are a favorite place for residents to walk and enjoy the beautiful golf course.

Arlington Heights in Fort Worth

United Country Rick Irving Realty — Sun, 11 Feb 2007 08:45:20 -0600

Arlington Heights is located in West Fort Worth. It is a few miles west of Downtown. The eastern edge of Arlington Height is along Montgomery Street when the Cultural District and the Will Rogers Complex is located. Some of Arlington Heights is located on what was once Camp Bowie. Camp Bowie was an U.S. Army Training Camp during World War I. Some of the interesting sites in Arlington Heights are Arlington Heights High School and HEB's Central Market. Many of the homes in the Arlington Heights area were built between 1920 and 1950. Most are single story with many of those being 2 or 3 bedrooms and 1 or 2 bath. Square footage ranges between 800 and 2400 for most of the area. It is a delightful area to live.