First time home buyers in Texas make an average income of $60,000 & a credit score of 710, just lower than the national average.  Texans shell out a down payment of $12,000, just $3,000 less than the national average.  Buyers across the country plan to stay in the house for around 9 years.  The low inventory of homes is affecting 1st-time buyers the most, but millennials are still gaining traction as the largest group of homebuyers in the nation.

Some tax advisors refer to client situations as having either “good facts” or “bad facts”.  Good facts lead to favorable tax returns, but the opposite is true for bad facts.  In real estate scenarios, good facts pertain to adequate documentation of  business activities as well as the activities themselves.  Real estate holdings lead to favorable tax treatment because of the taxpayers’ good facts.  Also need expert tax advice from a CPA and/or financial advisor.  MORE COMING FROM Dr. Jerrold Stern from the Texas A&M Real Estate Center & Indiana University.

161 projects, 9,053 new jobs, 11,831 retained jobs & $794,038,149 in new investment according to Tom Mullins, CEO Tyler Chamber of Commerce.  Tyler’s business-friendly approach, low taxes and city services are helping attract new business to our region & in turn more jobs.  “Business needs to be taken care of rather than taxed into oblivion”  according Dr. Mark Dotzour, real estate economist at Texas A&M Real Estate Center.  Even with a recession with our  low unemployment rates & increased population growth we SHOULD BE OK.

(1)  TEXAS ASSOCIATION OF COMMUNITY DEVELOPMENT CORPORATIONS:  texasdevelopmentdirectory.com             Provide directory that provide these services.  (2)  TEXAS STATE AFFORDABLE HOUSING CORPORATION:  tsahc.org                  Offers downpayment-assistance for low-income families & underserved communities.  (3)  TEXAS VETERANS LAND BOARD:  texasveterans.com               See if served in military.   (4)  TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS:  myfirsttexashome.org            Helps buyers find lenders who participate in low-rate mortgage loans.   (5)  TEXAS HOME PROGRAMS:  txhomeprograms.org          Provides buyers an extensive list of available assistance programs.

(1)   AMAZON ECHO –  Alexa app is the brain behind Echo & at $180.  Now a slimmer version of Echo and the Echo Dot.  (2)  IDEVICES – start at $59.  Most of these devices are compatible with Apple or Android.  (3)  NEST AND ECOBEE3 – at $249.  Nest learning is owned by Google.  (4)  VIVINT PING – camera designed to initiate two-way video chats – handy for working parents who need to visit with a child at home alone.  WHAT’S ON THE HORIZON?  Products will be more intelligent.  With any luck, the Jetsons’ charming robot maid, Rosie, will be arriving soon!

(1) CHECK YOUR CREDIT REPORTS  – 1 from Equifax, 1 from TransUnion and 1 from Experian.  You can get a free copy once a year.  Review them for possible errors.  80% of consumers find errors & need to be corrected.  (2)  PAY YOUR BILLS ON TIME.  Even a few days late can hurt your score.  Set up a calendar to keep up to prevent late payments.  (3)  REDUCE THE AMOUNT OF DEBT YOU OWE.  Lowering it will lower the amount of interest you pay.  Paying off delinquent accounts can improve your credit score.  (4)  BE PATIENT – like losing weight – it takes time.  No quick fix, but time will help with YOUR IMPROVEMENTS.