American investors should be wary of purchasing real estate in markets where there is heavy foreign investment, which they are purchasing for noneconomic reasons, so yields are pushed down in certain markets in America’s largest cities, such as Chinese buying for their student children, according to Dr. Mark Dotzour, Texas A&M Real Estate Center. Foreign investors from all over the world are “still piling into U. S.” real estate using “EB-5 funds”. An EB-5 visa allows foreign nationals to obtain a green card for the purpose of investing money in the U.S. Slow start, but probably will take off in 2015, particularly with hotels & shopping centers. JUST KNOW THE MARKET YOU ARE INVESTING IN!!
Texas & 21 other states are in the lower medium with a life expectancy of 77-78.5 years, with 8 states in the 75-76.5 years. Two states, Minnesota and Hawaii with a life expectancy of 81.1+ years. Most of the lowest are in the southern states and up to Tennessee, Kentucky and West Virginia. These are 2010 calculations. These are probably statistics most of us knew, but still need to be worked on to improve in almost 1/2 of the states.
Today’s homebuyers want walkable neighborhoods that offer relaxed access to nearby amenities and a real connection of the community. 60% of respondents favor walkable neighborhoods with a mix of houses, stores and businesses, rather than communities that require driving. The respondents said they willingly sacrifice home & yard size if it meant living closer to daily destinations, like the kids’ schools, public transportation & work. This according to a 2013 National Association of Realtors Survey. When paying for a home you may have to consider not only the price of the home, but the amenities, such as a waterfront home will usually sell for more than an off waterfront. REALTORS CAN HELP WITH ALL THESE DETAILS so you can make a decision best for you and your pocketbook.
Recent sellers typically sold their homes for 97% of the listing price, although 47% said they reduced the asking price at least once. 36% of sellers offered incentives to attract buyers, such as home warranties, closing costs, etc. 59% purchased a newer home than their previous one after selling house #1. Thirteen % of sellers had to delay selling their homes till prices can back, as they were under water with their mortgages. 88% of SELLERS WERE ASSISTED BY A REAL ESTATE AGENT. If you need help selling your property call us at Bain Real Estate, Tyler, TX.
Homebuyers are ditching the suburbs for the conveniences of urban life. Reasons are convenience to jobs, quality of school district + & close by , convenient to entertainment/leisure activities, convenient to airport, and to friends or family, + shopping and health facilities, quality of neighborhood, often availability of larger lots, overall affordability and design of neighborhood. City living is not for everyone, however urban cores have been eroding, but folks are now coming back. There is always going to be a DOWNTOWN; as long as you can keep it exciting, there’s always going to a steady stream of buyers who want to live there.
Particularly for first-time homebuyers choicing a home is difficult. Make a decision on each home visited and rate from 1 to 10. Often they dither, but the agent presses them for a number before they go to another house, assuring them they can revise ratings at any point. This way, when the first house was a 6 and the second a 4, they decide that the 2nd house if off the list of possibilities. This often shortens the looking time from weeks to 2 or 3 outings. The buyers are usually happy with that house as they would be if it had taken them weeks.
Applications are open for funding the State Water Implementation Fund for Texas (SWIFT). The Texas Water Development Board (TWDB) a few days ago adopted rules that will open up a new revenue source for much needed water-related that are part of the current state plan. TWDB Chair Carlos Rubinstein said each project is one step closer to TX being drought-resilient. Money was appropriated in a statewide Amendment to divert money. To apply for SWIFT funding, entities must submit an abridged application to the TWDB by Feb. 3, 2015. Then the projects will to prioritized. If given preliminary approval, then submit a full application, including an environmental, engineering, financial and legal review. More information is available on the TWDB WEBSITE.
Low interest-rate lock-ins seem to matter far less than life cycle events, such as a new job elsewhere, retirement, bigger or smaller homes, multiple generations in same home, different neighborhoods for schools, change in marital status, etc. Only 3% of folks recently said the changes in interest rates was a reason to move, so all this is like past history, then interest rates are NOT a big factor. SO AS INTEREST RATES MOVE UP, LIFE MOVES ON. Interest rates may cross over the 5% threshold sometime in 2015 and near 6% by 2016.