That makes for a nice confirmation that our local economy is pretty balanced & doing well, even
though new construction has dipped 16%, BUT City of Tyler & Tyler Independent School District
have seen an increase in the taxes collected for the past months. Both enjoyed significant growth
in new construction. This according to Michael Barnett, Smith County Appraisal District Chief Appraiser. Same is true for Lindale, just north of Tyler. Smith County will not see the growth it
has seen in past years, but there is a great deal going on in construction.
thebains Uncategorized
Despite job losses in the oil & gas extraction industry, petroplexes Odessa & Midland ranked 1st &
2nd in job creation, followed by Killeen-Temple-Fort Hood, THEN TYLER & Austin-Round Rock.
Much of Texas is sliding deeper into recession, according to the Real Estate Center at Texas A&M.
From May 2008 to May 2009 the state lost 2.1% of jobs, with the nation at 4% non-farm jobs.
Two Texas industries experienced more jobs in the past year - education, health services, leisure &
hospitality & the government sector. Current unemployment is now 6.9%.
thebains Uncategorized
How does TYLER compare to the rest of Texas? Existing homes sold down in Texas 20.4 from
May 2008 & Tyler with a 24.5% decline. Average price of a home in Texas is $149,900 with Tyler
$132,700 and 1/2 the cities in the state with a median price LOWER than Tyler’s with that down
2.4% from last year. Tyler has a 12.5 month inventory in homes only topped by Galveston. The
state average is 7.3 month inventory of existing homes. In the median price range & below homes
are selling fairly well, as that is where most folks can afford to buy. The upper price range is much
more sluggish & that is where most of the inventory is located.
thebains Uncategorized
Texas stands out as the top state for business, according to “Directorship” magazine. Texas ranks
3rd with its pro-business tax climate, a low cost of living, relatively solid economy & a litigation
environment that ranks 10th on the list. Texas also ranks first in the number of Fortune 500
companies located here. Major corporate relocations and expansions are Comerica’s move to Dallas & Caterpillar’s new plant in Seguin.
thebains Uncategorized
Before interest rates go up very much, refinancing your home debt might appear to be a no-brainer. Interest rates are lower on a 15 year mortgage & may not cost much more per month
than a 30 year mortgage. Also the 15 year mortgage will save your interest over the life of the loan. If you finance a new 30 year mortgage, then you will have the interest to start over again &
you may have already paid part of the interest on your 1st loan. Pulling out equity from your home
is always a possibility, but not advised by some financial experts. There are many angles to figure
on refinancing, so get with a competent financial advisor &/or mortgage officer to figure all of this
to accomplish your goals.
thebains Uncategorized
Even if current on your mortgage, falling behind on homeowner association dues. Many condo &
neighborhood associations may have the right to foreclose when DUES are NOT PAID. According to
Dallas-based Foreclosure Listing Services, forclosure attempts initiated by homeowner associations in 19 Texas counties are up 30% from 2 years ago. More than 59 million folks live in 300,000
association-governed communities nationwide. Let us know if you want more information & will
send an detailed article on the subject.
thebains Uncategorized
Texas has 20.9% of households on wireless phones only. Arkansas, Idaho, Nebraska, Oklahoma,
South Carolina & Tennessee also have 20%+ using wirelessphones. Households using less than
10% wireless phones are California, Delaware, Hawaii, Massachusetts, Montana, Nevada, New
Jersey, Pennsylvania, Rhode Island, South Dakota & Vermont. The rest of the states are in
between. Guess the black dial phone is long a thing of the past, when life seemed SIMPLIER. We
find many folks when they move to an apartmetn before they settle into a house to only use
wireless. Lots simplier when moving!
thebains Uncategorized
Austin is projected to grow by more than 2.7 million by 2025, according to an analysis by bizjournals - which will make it the projected FIFTH growth rate of 250 U. S. metros studied.
The Austin area will have an 87% growth rate from 1.5 million now to 2.7 million in 2025. McAllen-
Edinburg are 2nd with a 56% estimated growth in population plus these:
Dallas-Fort Worth - 50% to 8.8 million,
Houston - 48% to 7.9 million,
San Antonio - 41% to 2.7 million.
Tyler should easily reflect the Dallas growth, as it is moving forward as I write this.
thebains Uncategorized
1. Softened prices increase home affordability,
2. low interest rates,
3. large inventory to choose from,
4. an $8,000 tax credit - credit can be claimed even if file little or no income tax,
5. mortgages may cost more in the future,
6. if you are pre-approved to buy, ACT NOW,
7. home ownership creates long-term financial stability.
quoted from Julie Garton-Good in The Real Estate Professional
thebains Uncategorized