Arlington, TX

Arlington real estate is become a very booming city, many of the reasons why is because of the major entertainment events and places within the city. The new Cowboys stadium, the Ballpark in Arlington, Six Flags, and Hurricane harbor just to name a few. These event places bring in massive amounts of tourist every single day to the city. Which brings in lots of business, which business brings in residents. It is a very good economical cycle that arlington has going for it.

Arlinton homes for sale are also going up in value throughout the years. This means that right now would be a very good time to get into one of these homes. You would also be right next to six flags and hurricane harbor so that you could go to these places whenever you wanted! Arlington is a very unique city and there is no other city like it in the entire state of Texas. I would highly reccomend checking out Arlington if you were intersted at all in moving to the city!

For more info on this area, contact your Arlington realtor today

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Home Economic Recovery Act and Regulation Z Will Help Protect Home Buyers

There has been a lot of buzz about the Home Economic Recovery Act and Regulation Z. This regulation is an additional layer of the revamped FDIC Truth In Lending laws designed to protect consumers by forcing lenders to disclose detailed information prior to the consumer. The new provisions, prompted by the Credit CARD Act of 2009 and directly related to home loans and credit cards, will hopefully help prevent the recent housing market downturn from happening again.

These additional protection steps will help consumers make wiser financial decisions about their home loans and help reduce the number of predatory lenders out there. Consumers will be better armed with accurate knowledge and details concerning potentially devastating and harmful home buying decisions and deals.

A large part of the current state of the US housing market is a result of uninformed buyers purchasing homes they simply could not afford. Many of these buyers feel that they were taken advantage of and victimized by lenders just trying to turn a profit. Thanks to industry-wide zero-interest, no money down loans being made to individuals that did not have the ability to realistically pay their mortgages down the road.
By making substantial efforts and passing necessary legislation, lawmakers will promote a housing market where the buyer will be better educated, protected and held responsible for their actions. By involving better educated consumers in the home loan process, all housing markets can possibly reduce the number of foreclosures that resulted from bad lending decisions.

As stated by Reserve Chairman Ben S. Bernanke, "Consumers need the proper tools to determine whether a particular mortgage loan is appropriate for their circumstances.” Chairman Bernanke added, “It is often said that a home is a family's most important asset, and it is the Federal Reserve's responsibility to see that borrowers receive the information they need to protect that asset,".

This is great news for the consumer. Some of the provisions include:

Lenders must provide buyers with initial truth-in-lending mortgage cost disclosures within three business days of the application. If they don’t, you can terminate the deal.

Lenders can't collect any fees, other than for a credit check, until after you receive the initial disclosure.

Lenders have to provide you with a copy of the real estate appraisal three business days before the scheduled closing date.

A final truth-in-lending disclosure is due three business days before closing.
The lender can't close the loan until at least seven-days after applicants have or mailed the initial disclosure.

Creditors have to provide an additional loan cost disclosure if there is a change or modification that makes to APR go over a certain amount. You get an additional 3 days to review these changes before closing the loan. Go to www.tombrewerjr.com for more information.

The Dallas-Fort Worth metropolitan area has shown four consecutive months of positive returns according to Case-Shiller Index by Standard & Poor. Area homeowners in the area will be pleased to find out the good news since it may be an early sign that the economic decline has started to swing back in the right direction.

If the trend continues, the number of Dallas-Fort Worth real estate foreclosures will dwindle down to normal numbers. In Arlington and Mansfield this is already the case. Homeowners will also hopefully start seeing their property values stabilize and, in some cases increase. Home prices were down by over 2% in June when compared to last year which was and still is a major concern for homeowners.

Multiple reliable sources of data and statistics on the Dallas-Fort Worth real estate market have reported similar findings. The Federal Housing Finance Agency (fhfa.gov), for example, reported a 1.63% home sales price increase for Fort Worth for the 2nd Quarter.

Dallas-Fort Worth homeowners are doing much better than other those in other markets across the country. Some of these other markets like are still reeling from devastating double digit declines. Texas cities and towns, particularly Tarrant County and surrounding areas have been relatively fortunate to be shielded from the housing market conditions being experienced by other states.

This is largely due to the strong local economies and the fact that housing values didn’t balloon out of proportion like they did in other areas. Instead, they increased gradually so when the bubble burst, there wasn’t a huge vacuum of over-valued real estate inventory with no one to buy it.

Things will get back to normal eventually as they always have but in the meantime, real estate buyers, professionals and lending organizations will be watching the changing market trends very closely for signs of improvement

High Speed Rail System Will Propel Dallas-Fort Worth Economy

Fort Worth residents and city planners anxiously await the outcome of a stimulus funding application submitted by the Texas DOT. The application for $1.8 billion was made with the hope of getting much needed funding for a revamped passenger rail system for Fort Worth commuters as well as people from other areas of the state.
There have been many attempts in the past to boost the commuter rail options and range in Texas but they were usually voted down. Now, real step shave been taken to make the dreams of officials and residents come true.

The amount of options for jobs and housing for Fort Worth area residents would be increased exponentially by the implementation of an efficient, high speed commuter train. The ecological benefits of a new train system would be an added bonus, less vehicles producing exhaust emissions, less fuel consumption and less traffic are all big advantages.

Both large and small cities along the proposed rail service line will reap a variety of both tangible and intangible benefits. Local construction companies will be buzzing with activity to land projects spawned by the rail system. New jobs will be created in practically every industry to meet the needs and demands of a major rail project. Dallas-Fort Worth home sales will increase as new workers move into the area, home values will raise as demand for them increases.

The anticipated high speed rail system will dramatically expand on the existing rail system. The initial stages of the proposed line will connect the Dallas-Fort Worth area with San Antonio and Houston, creating a major trifecta of potential economic and industrial growth. The new rail system will literally change the way Texas residents live and travel. Rural residents will have ready access to major cities and city-dwellers will have easy option for getting away from the hustle and bustle for day trips into the countryside.

The state is currently waiting to see if they receive the $1.8 billion in stimulus funds or other funding streams including grants. The ultimate long term plan is to provide safe, efficient high speed transportation throughout Texas with links to other states. Nothing is finalized yet but getting a significant amount of stimulus funds will really get the ball rolling.