Factors are: population growth,
job growth,
income growth,
house prices & affordability
What could disrupt this: insufficient development infrastructure,
politics & public policies - limited growth & state fiscal policies,
worldwide 1930s-style depression - no control in TX
By 2030 TX is expected to add 13.6 million people, the equivalent of adding another Dallas-Fort
Worth, San Antonio, Houston & Corpus Christi
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Yes, you are hearing gloomy lender news, but now is the time to take advantage of the LOWER interest rates. The vast majority of
Americans pay their loans on time, so don’t be
spooked out of not buying now. Prices have
softened in our area & possibly an pick up a good buy.
Mark Dotzour, chief economist with TX A&M Real
Estate Center, thinks rates need to come down
even further & one of the columnists in the Tyler
newspaper today said the government is only
putting a bandaide on the problem. We’ll have to wait & see.
Home sales in North TX down 25% from December 2006, which takes homes longer to sell & some lower prices.
AGAIN A GOOD TIME TO BUY!!
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this is for loans $100,000 to $417,000.
TX nonfarmemployment rose 2% from 11/06 to
11/07 compared with a 1% annual growth rate for the whole nation. We are doing that well in
East TX & TYLER was the 5th in employment in
growth in the same period.
The drop in mortgage rate is tied worried about a weak economy.
Yes, home sales are down & prices softening,
but still one of lowest average sales times in the
country.
Most of the above are statistics from Dr. Mark
Dotzur with the Real Estate Center at TX A&M.
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Other important features in new homes - hardwood floors, granite
counters, cable & satellite- readiness & high speed Internet access. First time home buyers would give up some of this, but
seasoned buyers were picky on luxury items. Some buyers were
willing to sacrifice on some of the aforementioned items in favor
of proximity to schools, shopping, parks or playgrounds. Some
even wanted to be within walking distance to these places and
of course, public transportation is playing a factor. There is some
in Tyler and bus service has increased in the past several years.
LET US HEAR WHAT YOU WANT IN A HOUSE VIA E-MAIL AT
realestate@thebains.com
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even with the slowdown in 2007 & probably into 2008, but TEXAS is doing better than the rest of the nation. All of this
according to Tom Perryman, noted economist, who has been on
target in recent years. Louisiana population is rebounding, but
Florida growth is declining.
It is BEST to KEEP UP WITH THE LOCAL ECONOMY YOU ARE INTERESTED IN, TO KNOW WHAT IS REALLY HAPPENING. It varies from locale to locale. We have had to point this out to
folks in selling or buying property. Or as quoted THE SKY IS NOT
FALLING.
Call us for a specific assessment that you need at 903-571-2191. Have a prosperous New Year!
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