The Bains

according to the latest report from the Real Estate Center at Texas A&M University. TX
non-farm employment rose 2.2%, but national was 0.9% from December 2006 to December 2007.
States mining industry ranked 1st, followed by professional & business services, the leisure &
hospitality industry & the financial activities industry.
All TX metro areas has positive employment growth rates during the above period, with
McAllen-Edinburg-Mission first, followed by Tyler, Austin-Round Rock & Brownsville-Harlingen.
Midland had lowest unemployment rate, followed by Amarillo, Lubbock, Odessa & College Station-Bryan.

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

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!!

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.

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

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!

Sellers hurt themselves when they overprice & are lowering
prices 2 to 3 times to find the market. Right now, it is discouraging, but we are BETTER OFF IN TEXAS, than the rest
of the country. Right now homes in Texas are selling the best
in the nation, even being several months longer on the market &
prices reduced, particularly in HIGHER price homes.
Call us to help you with pricing.

2007 REMODELING COST VS. VALUE report shows 3 of 4 projects with the highest return were outside projects, such as siding replacement, wood deck additions & wood window replacements. For more on this subject let me know at
realestate@thebains.com for more information on the inside also. Certainly improvements to a home are important & usually
get a high percentage of money back at the time of sale.

Prices are better & most of mid-America should avoid a housing
slump. Remember we are in fall/winter & this can be a slower time for property to move. What you would call working folks,
these are buying in the lesser price ranges. Some softness of the market, but still resonable good. Currently there is a SIX MONTH supply of homes, but nation wide the average is TEN MONTHS. In Texas, the average time for a home to be on the market is 75 DAYS.

Let us hear from you.

The U. S. economy is like a professional wrestler, as it is STRONG, FIT & COMPETITIVE, but no one knows how many clots
are in the system and where they could land. If and when they do land, it will cause much damage.
This according to Dr. Mark Dotzour as he discussed the national and Texas economy. Dr. Dotzour is an economist with the Real Estate Center at Texas A&M.
The Texas economy is OUTFORMING the U. S. economy, with its weaknessed center around the auto & construction industries.
LET US HEAR WHAT YOU THINK FROM WHERE YOU LIVE ON THE
BLOG.