Don’t you love it when you’re right? Of course, you do. Last week we discussed how we love when we’re first, now we will focus on the adulation of being right in regards to the revitalization of a certain Fort Worth neighborhood.
In 2016, your favorite Real Estate Sherpa told you about a neighborhood that was on the cusp of revitalization. That neighborhood was called Bomber Heights. Combined with the adjacent neighborhood Ridglea Hills, west of Highway 183, Bomber Heights has become an area where revitalization has taken off and isn’t looking back.
Bomber Heights / Ridglea Hills West
In this smaller area, there have been 68 closings in the past 365 days. Currently, there are only 18 homes active, under option, or pending in the area. Activity is abundant.
As inventory has shrunk (and become better), prices have increased. The highest sales price over the past year is around $250,000, and the highest price per foot (although that’s a phony way to consider value of a home) is nearly $190 per foot.
As this trend continues, this triangular area, found between Hwy 377, Vickery Blvd., and Hwy 183, in a great location will no longer be a secret.
Sunset Acres / Burton Hills
Another area where revitalization is happening is a neighborhood sandwiched between one of the older and more expensive neighborhoods, Westover, and thriving urban village of The River District, in Fort Worth.
The area is called Sunset Acres or sometimes referred to as Burton Hills. This swathe of land consists mainly of homes built in the 1950s and 1960s. Most are single-story homes. Certainly, the majority of homes were built by the same builder because the layout of the homes is nearly identical from home-to-home.
Like the Ridglea Hills West area, sales numbers and sales prices have increased in the past few years. This trend is certain to continue.
Revitalization Doesn’t Always Mean Flipping
We’ve discussed plenty in Tarrant County Tuesday the skepticism you should have about homes that are flipped. There are some out there who do a fantastic job, and there are some that slap a little gray paint on the walls and quartz on the counters and call it a day.
Flipping has slowed down in these areas as prices have continued to increase. It makes sense, if a flipper can’t find a cheap enough property to work on then turn it for a profit, they won’t buy the property in the first place.
In both of these locations, there are some quality flippers, however, because prices aren’t yet pushing $300,000 or more, and sales prices of homes in need of work are over $100,000 for the most part, many homes are being purchased and updated by individuals.
There is still hope for those looking under $300,000 and want to live inside the 820 Loop of Fort Worth, you just have to know where to look.
Well, that’s all from Tarrant County Tuesday this week Dirty Readers. Thanks for reading and following and sharing! As always, if you have questions, comments or great ideas for a post … hit me up!
Seth Fowler is a licensed Real Estate Sales Professional for Williams Trew Real Estate in Fort Worth, TX. Statements and opinions are his and his alone. Seth has been involved with the home sales and real estate industry in the Fort Worth area since 2004. He and his family have lived in the area for over 17 years. Seth also loves bowties! You can reach Seth at: 817.980.6636 or firstname.lastname@example.org. If you are looking for a Real Estate Sherpa to help you buy or sell … give Seth a call!