How real estate and finances mix in FTW’s 2022 market

Opendoor’s first-ever Financial Wellness Study looks at how people are tackling their finances and homeownership, along with the stress it can cause. | Photo provided by Opendoor

Financial wellness and homeownership are two sides of the same coin. A recent study from Opendoor found that 56% of current + prospective homeowners think about their finances for at least 30 minutes every day. (We feel that. 💸)

Homeownership is a major milestone of financial security that many aspire to — but it can be just as stressful financially as other ultimate goals like saving for retirement and saving for a child’s education.

Fast facts:

37% of prospective homebuyers believe that homeownership will improve their quality of life.
More than 78% are considering buying their first home in the next five years.
53% want to buy within the next two years.

If you’re a part of these percentages, join us as we take a look at how Fort Worthians are tackling their finances + homeownership and how it affects their stress levels. (Read: You’re not alone if you’re sweating over down payments.)

The biggest real estate stressors in FTW — Built in 2014, this brick and stone home boasts an open main floor and large upstairs flex space. | Photo provided by Opendoor

FTW real estate stressors by the numbers

Money is top of mind. Texas residents are among the least confident in their financial security with nearly two in three stating they do not (or sometimes do not) feel secure financially.

Pro tip: Opendoor recently announced a financing app that enables consumers to get a mortgage pre-approval in less than two minutes — and it’s currently available to TX customers.

Financing is the top stressor for Texas homebuyers. When it comes to buying, 51% of Texans wrestle with understanding the mortgage/lending process (compared to 38% nationally).

One thing to note: Texans are paying off their debt before making their next milestone purchase. While more Texans are troubled by paying off college loans (35% vs. 28% nationally) than the stress of saving for retirement (69% vs. 77% nationally), the recently-announced Student Debt Relief Plan may relieve some of this stress and help Texans make milestone purchases (like buying their first home).*

TAKE THE STRESS AWAY

This content was created in partnership with Opendoor and written by Garcelle Vierra Erdie.*

POLL

Do you enjoy browsing home search websites (ie. Opendoor, Zillow) for fun?

A. Yes
B. No

QUELL OUR CURIOSITY

EVENTS

Click here to have your event featured.

Today

A Fête with Chef Jenny Castor | Tue., Oct. 25 | 6-8 p.m. | Sugarboo & Co., 5270 Monahans Ave., Fort Worth | $125 | Learn to infuse whimsical elegance in your tablescape and become the ultimate holiday host.
Broadview Yoga | Tue., Oct. 25 | 9-10 a.m. | Fort Worth Nature Center & Refuge - Broadview Park, 9601 Fossil Ridge Rd., Fort Worth | $5 | Enjoy a relaxing introductory yoga session with downtown views.

Wednesday

Post Malone: Twelve Carat Tour | Wed., Oct. 26 | 8 p.m. | Dickies Arena, 1911 Montgomery St, Fort Worth | $100+ | Grapevine native Post Malon is bringing guest Roddy Ricch along for his “Twelve Carat Tour.”

Thursday

Kodachrome by Adam Szymkowicz | Thu., Oct. 27 - Sat., Nov. 19 | 7:30-9:30 p.m. | Circle Theatre, 230 W. Fourth St., Fort Worth | $20.00 - $40.00 | A play about love, nostalgia, the seasons, and how we learn to say goodbye.

Friday

Preschool Story Time | Fri., Oct. 28 | 10:30-11:15 a.m. | Fort Worth Public Library - Ridglea, 3628 Bernie Anderson Ave., Fort Worth | Free | Encourage a love for reading with your preschooler.

Saturday

Kyle Park | Sat., Oct. 29 | 10 p.m. | Billy Bob’s Texas, 2520 Rodeo Plaza, Fort Worth | $34+ | Experience a night of country music from the Leander-based artist.

We have a monthly guide filled with events + activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.

PLAN THE WEEK AHEAD

NEWS NOTES

Weather

73º | Sunny | 0% chance of rain

Open

The 701 — a mixed-use development in the Near Southside — officially opened last week. The 68,000-sqft development includes retail and restaurant space, a pedestrian plaza, a parking garage, and a three-story office building. 🏢 (PaperCity Fort Worth)

Outdoors

Dalton’s Best Maid Products Inc. donated .674 acres of land paving the way for a new park in the Ash Crescent neighborhood. Smiley Park will be at South Riverside Drive and East Maddox Avenue. It will feature crawling mounds, objects for climbing and swinging + an open-air gym. 🌳

Transit

Construction is starting today on Trinity Metro’s Pedestrian Safety Enhancements Project at Central Station downtown. The project includes installing LED flashing lights in the pavement and pouring new concrete for sidewalks. Work will wrap up Fri., Nov. 25. TEXRail and bus routes will not be impacted. 🚉

Coming Soon

Chef Marcus Paslay plans to open his fourth Fort Worth restaurant at The 701. Walloon’s will feature a raw oyster bar and American grill classics like sandwiches and salads. It will open summer of 2023 inside the old bank building at 701 W. Magnolia Ave. 🍽️ (The Dallas Morning News)

Seasonal

The Fort Worth Botanic Garden is rolling out the first-ever marigold carpet in honor of Día de Los Muertos. On Sat., Oct. 29 from 1-5 p.m., guests can view the marigold altar in the Rose Garden. Learn more about Día de Los Muertos and how you can celebrate locally. 🌼

Active

Panther Island Pavilion’s Justice Run is happening this Sat., Oct. 29. The race aims to bring awareness to human trafficking and raise money for the building of The Justice Residences. Following the races, participants can enjoy live music, food, vendors, and kid-friendly fun. Register now. 👟

Cause

Texas Health Resources named the winners of its bra art contest in honor of Breast Cancer Awareness Month. View photos of the winning submissions + check out the display through Fri., Oct. 28 in the main lobby of the Richardson Tower at Texas Health Harris Methodist Hospital. 🎗️

DYK

Did you know you can support FTWtoday through our retail store? We’re celebrating Fort Worth’s unique landmarks and history with our online shop. Show off your Fort Worth pride with stickers, hoodies, mugs, and more. No need to wait. Start shopping.

Real Estate

Opendoor + Zillow are joining forces. The new multi-year partnership will allow Zillow sellers to request an Opendoor offer. Customers will be able to use Zillow’s service as a standalone offering or package it with other Zillow home shopping services (read: financing, closing or agent selection). 🏡 *

Shop

Here’s a friendly reminder that we’re less than a week out from Halloween. Have you bought your costume yet? What about the candy? And if you wanna be the coolest parent or grandparent on the block — while increasing your trick-or-treater’s nighttime visibility — grab this affordable 100-pack of glow sticks.*

Content marked with an * is brought to you by our advertising partners and helps make this newsletter free.

Development

Out-of-this-world renovations 🪐

Renovations on the theater are expected to wrap up in spring 2024. | Photo courtesy of Bennett Partners

The Fort Worth Museum of Science and History is planning a $20 million renovation to the Omni Theater. The theater — which shows educational and popular films — closed in 2020 because of the pandemic and anticipated updates. According to its website, the Omni will reopen “bigger and better than ever.”

At last week’s city council meeting, interim vice president Orlando Carvalho talked about modernizing the building infrastructure with an updated HVAC, electrical, and mechanical + getting a new roof. Other significant changes include:

ADA enhancements to the theater and lobby
Extend the outside entrance to eliminate congestion
Install 300 new and bigger theater seats
Improve the safety of the stairs (width, height, and handrails)
Add a stage to enable educational events
New LED 8k Flat Panel digital display
Repurposing the old IMAX equipment as a permanent exhibit in the Pre-Show Foyer

The new LED equipment will be the first LED Digital Dome of its size in North America. The theater is expected to reopen in the spring of 2024. The project architect is Fort Worth-based Bennett Partners, and the construction contractor is Byrne Construction.

VIEW THE RENDERINGS

THE WRAP

Today’s issue was written by Rebecca.

Editor’s pick: With Halloween just around the corner, local bars are giving us pumpkin to talk about with Halloween-inspired cocktails. Check out these five local places brewing up fang-tastic drinks.

Missed yesterday’s newsletter? Explore the city in a new way.

Connect with us.

Editorial: Rebecca McRobbie, Kate Mazade, Dayten Rose, Emily Shea, Ashlea Hearn, Josh Kranzberg | Send us a scoop, question, or feedback.

Sales: Camille McLeod | Advertise with us.

ADVERTISE | SHOP | CAREERS | ETHICS

Did a friend forward this free newsletter to you?

You received this email because you are signed up for newsletters from 6AM City.

Change your preferences or unsubscribe here.