Tyler, TX Homes for Sale & Real Estate | Homes.com ~ Tyler Homes Tyler T...

Tyler Homes for sale Tyler Texas Homes 10 Lessons to learn as the Housine market Recovers

10 Lessons to Learn as the Housing Market Recovers

On July 18, 2012, in Housing Market News, Shy Shinalt,

by Shy Shinalt Tyler Homes Keller Williams Tyler Texas (TX),

Headlines abound: The Housing Bust is over… In June, a survey of economists concluded that housing has hit bottom. homeowners and renters, Americans, and citizens of the world all are sighing with collective relief. The economy and housing values both have cycles. It has been more than eighty years since the difference between the top and the bottom was so great.

As Realtors®, we are relieved that we are at the bottom, but we are realistic with the changes in the market and our work. In the not too distant past, the overwhelming majority of our work was prior to sales agreement, now it can be after. In that same time, most transactions closed. The”fallout rate” was nonexistent. Most sobering is what is now required to get to closing and how many things can derail a transaction for a “willing, ready, and able” buyer.

So we are cautiously engaging the new reality, but first we need to pause. If we do not learn from history, we are bound to repeat it. We do not want to repeat the last ten years. So what are the lessons we should learn? Here are 10 lessons that come to mind:

1. The economy cannot recover without housing.
2. Everyone needs shelter, but not everyone needs to own their shelter.
3. High homeownership rates are important but they must be sustainable.
4. Home prices go up and go DOWN.
5. The process of purchasing /financing a home is more complicated.
6. Sound underwriting of mortgages is critical.
7. Home equity should not be used for ordinary living expenses.
8. Financial reserves for family, companies, and countries are necessary.
9. Homeowners confidence in the economy is directly related the value of their own homes.
10. The economy is global.

What lessons did the last decade teach you? We would love to know what you learned from the last cycle.

What is important is that we remember what happened as we prepare to write the future. Most importantly, we should also have a sense of accomplishment that we endured these life lessons.

There are seasons in the weather: spring, summer, fall and winter. So there are in economic cycles. It is great to be at the thaw of winter and the budding of spring.

Shy Shinalt

Keller Williams Tyler Texas

903.533.8114

Tyler Homes Tyler Texas ~ Tyler Homes for sale

We offer our services in Tyler Tx homes,Ben Fitzgerald Real Estate Services, Tyler homes for sale, Tyler real estate, Tyler TX homes for sale, Tyler Texas homes for sale, Tyler houses for sale, Tyler houses, 'Tyler, Texas homes, real estate, residential, real, estates, homes, houses, TX, Texas real estate, for sale, sales, for, buyers, Smith County, County, property, properties, Realtors, ocean, city, homebuyers, househunt, land, condominiums, townhomes, townhouses, single family residence, golf, resorts, mountain, oceans, beaches, mls, lakes, condos, lots, vacation, realty, second homes, new construction, buy, agents, brokers, newer, older, luxury, large, huge, expensive, multi, million dollars, high, listing database, HomeFinder, Tyler, TX homes for sale, Tyler, TX properties, Tyler, TX real estate, Tyler Listings, Tyler FSBO Tyler, TX Homes for Sale & Real Estate | Homes.com, Pamela Walters offers Tyler Texas Real Estate, Tyler TX Real Estate, Tyler TX Real Estate For Sale, and more. "Tyler Texas Real Estate, Tyler TX Real estate, Tyler TX Real Estate for sale, real estate tyler tx, Cascades, we thank you very much for choosing Keller Williams

Tyler, TX Homes for Sale & Real Estate | Homes.com Keller Williams Tyler

Tyler Texas Real Estate ~ Tyler Texas Homes ~ Tyler Homes For Sale ~

Can the HOA sue me if it doesn’t exist?

                        http://www.shyshinalt.com/

Dear Shy: We tried to refinance our mortgage, but the bank informed us that a lien exists on our property. In 1995, our former homeowners association filed a lien for nonpayment of dues on our property – this is news to us. We’ve lived here since 1979 and have never missed a payment on anything. The HOA doesn’t exist anymore, so there’s no one we can contact to clear this up. The bank is asking for a release of the lien before the new loan can proceed. How can we fix this?

Answer: If the lien was filed in 1995, the ability to foreclose is probably past the statute of limitations, so it can’t be enforced. Sec. 209.004 (d) of the Property Code states that if the HOA has not filed a management certificate, they lose the right to collect amounts owed to the HOA. Assuming suit has not been filed and no management certificate has been recorded, the entity no longer exists (check with the Texas secretary of state for verification), so there is very little likelihood of risk. The title company can insure the lien priority to the lender and assume that risk. If they will not, change the title company.

Shy Shinalt

Keller Williams Tyler

http://www.shyshinalt.com/

We offer our services in Tyler Texas,Tyler Texas Real Estate,Tyler Tx,Tyler Tx homes for sale,real estate Tyler Texas,Tyler MLS,Tyler Tx properties,tylerhomes,Keller Williams Tyler Texas,Tyler Texas real estate,  Tyler tx real estate, tyler real estate, tyler homes, homes for sale tyler tx, real estate tyler texas, tyler texas homes, flint tx real estate, bullard real estate, lindale real estate, tyler texas realtors, real estate tyler tx,Trulia, Tyler real estate, Tyler Homes, Tyler Homes For Sale, Tyler properties, Tyler listings,homes, houses, properties, Realtor.com, Tyler real estate, Tyler homes for sale, Tyler TX property, Tyler, Tyler, TX Homes for Sale & Real Estate | Homes.com., homes for sale Tyler Tx,Tyler Texas,Tyler Texas Real Estate,Tyler Tx,real estate Tyler Texas, we thank you very much for choosing Keller Williams



6 tips for a successful loan mod

www.shyshinalt.com

 

Avoid rookie mistakes when preparing, submitting your document package

Millions of mortgage borrowers who can no longer afford their mortgage payments but can afford a lower payment can avoid foreclosure by getting a modification of their loan contract. While the path to a modification remains torturous, it is not quite as bad as when I wrote addressed the issue in a 2009 column.

Are you unqualified?

It is not possible for borrowers acting on their own to determine whether they qualify for a modification because they don't have access to all the criteria. Some is kept under wraps by loan servicers. However, borrowers can determine that they are not qualified for a government-supported modification by accessing a questionnaire provided by the U.S. Treasury Department.

Bear in mind, however, that servicers also offer modifications outside of the government's program. You might qualify for one even if you don't meet the government's requirements.

Compiling the information the servicer wants

The single most important step in obtaining a loan modification is providing the servicer with the exact information the servicer needs to make a decision. Each servicer has its own set of forms that must be completed, and its own requirements for the documentation you must provide.

In my first stab at this problem, I placed the information required by each of the major servicers on my website. Now borrowers can access the DMM Document Wizard, provided at my request by Default Mitigation Management LLC, which is a lot better. Based on your answers to the questions it asks, you will be provided with a customized list of forms you must complete and documents you must provide. It is free and will take the guesswork out of what you need.

Don't exaggerate your financial shortcomings

Warning: The servicer will examine your statements of income and expenses to determine whether you can afford a reduced payment. Exaggerating your financial weaknesses may open his heart but close his purse, if it makes you appear to be a lost cause.

Assuring accuracy

Having the right form is one thing, but filling it out correctly is something else. Some industry executives estimate that about 95 percent of all packages submitted are incomplete or contain errors. A package with obvious errors may fall to the bottom of the pile, or it may lead the servicer to conclude that you do not qualify for a loan modification when, in fact, you do. Remember what you were taught in second grade: Neatness counts!

In addition:

1. Use a cover sheet that identifies all documents in your package.

2. Write your name and loan number on every page.

Assuring delivery

Preparing an accurate and complete set of documents is one thing, but delivering the package to the servicer is something else. Servicer systems have been overwhelmed by requests for help, and documents routinely get "lost." You want to minimize the chances of that happening to you.

Using fax or certified mail: Make sure you have the correct contact information. Treasury provides addresses and fax numbers of every mortgage servicer.  Certified mail is more reliable than fax, but neither guarantees prompt attention by the servicer, or even that the documents won't subsequently be misplaced or lost.

Using the DMM portal: The best way to deliver documents to servicers is to use the DMM portal, available through the DMM Document Wizard by clicking on "Submit," or visit http://www.dclmwp.com/. I have no financial interest in DMM.

Using the portal, your documents are delivered to the servicer electronically, and the portal then becomes a direct communication channel to the servicer. The servicer uses the portal to acknowledge receipt of your documents and to request additional information or documents. You use the portal to make corrections, to send additional information, and to update yourself on what has been completed and what remains to be done.

Questions by you are automatically directed to the specific employee who can answer them. All communications are time-stamped and remain in the portal as a record of borrower/servicer exchanges.

Unfortunately, not every servicer subscribes to the DMM Portal. The list of those that do is shown on the DMM Wizard.

Follow up, and then follow up again

Because the process of modifying mortgages remains slow and error-prone, you may need to nudge the servicer. If you faxed your documents, you should follow up to make sure the papers haven't been lost and the case is in an active queue. But even if you use the DMM Portal, you should follow up with the servicer regularly to make sure your application is on track.

Tyler homes Shy Shinalt

Keller Williams Tyler

http://www.shyshinalt.com/

We offer our services in The Cascades, Cascades Tyler, Golf Resort, Country Club, Spa, seller financing, mansion, estate home, restrict, Home, listings, real estate, for sale, new condo, townhouse, agent, broker, mls, relocation, Tyler, Texas, lot, land, buyer, seller, Coldwell banker tyler, century 21 tyler, Tyler Real Estate, Flint Real Estate, Whitehouse Real Estate, Bullard Real Estate, Chandler Real Estate, Lindale Real Estate, Arp Real Estate, Lake Palestine Real Estate, Tyler Homes, Tyler Properties, Tyler Realtor, Tyler Real Estate Agent, Tyler, Flint, Whitehouse, Bullard, Chandler, Lindale, Arp, Lake Palestine, Smith County, real estate sales, buyer broker, buyers agent, Real Estate, multiple listing service, condo, condo conversion, townhouse, 1031 tax exchange, prequalification, mortgage loans, home locator, investment homes, investment properties, relocation specialist, residential, real, estate, residential real estate, houses, homes, Real Estate, estate homes, fine homes, multi-million dollar estate homes, multi-million dollar estates, foreclosure, reo, repo, bank repo, short sales, fixer, property, Realtor, Realtors, for sale, sale, buy, buyers, condominiums, townhomes, single family residence, view homes, duplex, duplexes, split levels, ranch style homes, single story homes, two story homes, RV access, pool homes, golf course view, ocean view, city lights view, nice neighborhood, era, we thank you very much for choosing Keller Williams

Tyler home

Mortgage rates plunged to new all-time lows this week as investors in bonds that fund most home loans reacted to news that the economy grew more slowly than expected during the last three months of 2011. Freddie Mac's weekly Primary Mortgage Market Survey showed rates on 30-year fixed-rate mortgages averaged 3.87 percent with an average 0.8 point for the week ending Feb. 2, down from 3.98 percent last week and 4.81 percent a year ago. That's a new all-time low in Freddie Mac survey records dating to 1971. Rates on 15-year fixed-rate loans averaged 3.14 percent with an average 0.8 point, down from 3.24 percent last week and 4.08 percent a year ago. Rates on 15-year loans have never been lower since Freddie Mac began tracking them in 1991. For five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans, rates averaged 2.8 percent with an average 0.7 point, down from 2.85 percent last week and 3.69 percent a year ago. That's a new low in records dating to 2005. Rates on one-year Treasury-indexed ARM averaged 2.76 percent with an average 0.6 point, up slightly from last week's record low of 2.74 percent. At this time last year, the one-year ARM averaged 3.26 percent. "Most mortgage rates eased to all-time record lows this week as fourth-quarter growth in the economy fell short of market projections," said Freddie Mac chief economist Frank Nothaft in a statement. "The gross domestic product rose 2.8 percent in the final three months of 2011, below the market consensus forecast of 3 percent, while consumer spending in December was flat. One bright spot, however, was that fixed residential investment increased for the third consecutive quarter and residential construction spending rebounded in December, rising 0.7 percent." Shy Shinalt Keller Williams Tyler www.shyshinalt.com

Tyler Texas Homes

                                    Are discount brokers good for the seller?

                                        www.shyshinalt.com

Are you really doing the right thing for your seller? Had an agent come to me this morning and we had a discussion on a home she just showed that was listed at a deep discount of 1% to the buyer’s agent. This is becoming more and more prevalent in the market today and while most feel it is a problem I feel it is something that will eventually blow up in the discounters face. After investigating the listing I came to a conclusion that the seller is being taken advantage of. You see our agent did the right thing and showed the home, but in the real world most agents would pass on this showing. I know we should show the home, but really why would another agent base their entire business plan on taking advantage of the entire real estate community? This home has already been on the market 180 days longer than any home in the neighborhood that sold in the last 2 years. Keeping in mind it’s a $550,000.00 home, that could be close to $ 30,000.00 in additional payments and taxes the seller has paid. That would be, ugh, 6% and it’s still not sold. Then take into account what negotiations might be like with a seller who is this “intelligent!” It reminds me of the saying;” a fool and his money are soon parted.” Or as W.C. Fields said, “they were lucky to get together in the first place!” Did the agent do the right thing? Clearly no, but when a seller uses a discount broker, they get what they paid for or dare I say deserve. In this case $30,000.00 in loses so far with no end in sight. http://www.shshinalt.com/

Shy Shinalt

KellerWilliams Tyler

http://www.shyshinalt.com/

We offer our services in The Cascades, Cascades Tyler, Golf Resort, Country Club, Spa, seller financing, mansion, estate home, restrict, Home, listings, real estate, for sale, new condo, townhouse, agent, broker, mls, relocation, Tyler, Texas, lot, land, buyer, seller, Coldwell banker tyler, century 21 tyler, Tyler Real Estate, Flint Real Estate, Whitehouse Real Estate, Bullard Real Estate, Chandler Real Estate, Lindale Real Estate, Arp Real Estate, Lake Palestine Real Estate, Tyler Homes, Tyler Properties, Tyler Realtor, Tyler Real Estate Agent, Tyler, Flint, Whitehouse, Bullard, Chandler, Lindale, Arp, Lake Palestine, Smith County, real estate sales, buyer broker, buyers agent, Real Estate, multiple listing service, condo, condo conversion, townhouse, 1031 tax exchange, prequalification, mortgage loans, home locator, investment homes, investment properties, relocation specialist, residential, real, estate, residential real estate, houses, homes, Real Estate, estate homes, fine homes, multi-million dollar estate homes, multi-million dollar estates, foreclosure, reo, repo, bank repo, short sales, fixer, property, Realtor, Realtors, for sale, sale, buy, buyers, condominiums, townhomes, single family residence, view homes, duplex, duplexes, split levels, ranch style homes, single story homes, two story homes, RV access, pool homes, golf course view, ocean view, city lights view, nice neighborhood, era, we thank you very much for choosing Keller Williams

Keller Williams ~ Tyler Homes

http://www.shyshinalt.com/

When it comes to buying and selling the single largest financial investment in most family’s lives, why would you trust just anyone to do it? The goal for most buyers and sellers is to protect their investments. Buyers want to make sure they are buying in an area of good resale and getting the most for their dollars. Sellers want to make sure that they are getting the most money for their investment and they are protected from the legal pitfalls of today’s society. With both concepts in mind, why would you put your livelihood in the hands of someone who is not a professional, someone who may not be familiar with the area or someone you are not certain you can fully trust?

You shouldn't and I certainly don’t want you to!

I pride myself on being your hometown real estate professional resource for all your real estate needs. Being from East Texas, I understand the East Texas market better than others. I strive to make sure you are taken care in every aspect and every step of the way. My objective is to raise the bar as to what you should expect from your agent and ensure that I am fully accountable to you. Open lines of communication, attention to every detail of your buying or selling experience, and going the extra mile are my promises for every client. I believe that you are not just a number, not just a sign, not just a transaction, but a treasured client that has invested a lot of trust in my knowledge and skills. The home buying and selling process requires us to be a team which is why I have carefully selected professionals to assist you in every aspect of your buying or selling expereince so that no detail is left undone.

My goal is to create an expectation from you for future real estate needs that cannot be duplicated and look forward to your repeat business and trust as well as your referals!

I am always receptive and welcoming of your vital and valued feedback. This feedback enables me to consistently assess, re-evaluate and continuously make changes to consistently create a higher level of service. Call me today, I look forward to meeting, serving and getting to know you!

Shy Shinalt

Keller Williams Tyler

http://www.shyshinalt.com/

We offer our services in Tyler Texas,Tyler Texas Real Estate,Tyler Tx,Tyler Tx homes for sale,real estate Tyler Texas,Tyler MLS,Tyler Tx properties,tylerhomes,Keller Williams Tyler Texas,Tyler Texas real estate,  Tyler tx real estate, tyler real estate, tyler homes, homes for sale tyler tx, real estate tyler texas, tyler texas homes, flint tx real estate, bullard real estate, lindale real estate, tyler texas realtors, real estate tyler tx,Trulia, Tyler real estate, Tyler Homes, Tyler Homes For Sale, Tyler properties, Tyler listings,homes, houses, properties, Realtor.com, Tyler real estate, Tyler homes for sale, Tyler TX property, Tyler, Tyler, TX Homes for Sale & Real Estate | Homes.com., homes for sale Tyler Tx,Tyler Texas,Tyler Texas Real Estate,Tyler Tx,real estate Tyler Texas, we thank you very much for choosing Keller Williams

FHA will keep funding flips

http://www.shyshinalt.com/

FHA will keep funding flips

Waiver for 90-day resales extended through 2012

For the second year in a row, the Federal Housing Administration is extending a temporary waiver of its "anti-flipping" rule, meaning homebuyers relying on FHA-insured financing will continue to be able to buy homes that have changed hands in the last 90 days.
The waiver is a boon for investors seeking to rehab and flip properties, because it expands the pool of eligible borrowers to include those relying on FHA-backed loans, popular with first-time homebuyers and others who lack the cash to make large down payments.
In extending the waiver through 2012, FHA said all transactions must continue to be arms-length. In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will apply only if the lender can document the justification for the increase in value, FHA said.
FHA instituted the anti-flipping rule in 2003 to protect its mutual mortgage insurance program from losses on homes that were merely flipped, rather than rehabbed. Homes repossessed by Fannie Mae, Freddie Mac, and state- and federally chartered financial institutions were exempt from the rule.
In February 2010, the Obama administration waived the waived the waiting period for resales -- including homes purchased and rehabbed by private investors -- in the hopes of stabilizing home prices and revitalizing communities hit by foreclosures.
It often takes less than 90 days to acquire, rehabilitate and sell properties, the Department of Housing and Urban Development said at the time. Some sellers of rehabbed properties had been reluctant to enter into contracts with FHA buyers because of the cost of holding a property for 90 days, HUD said.

In extending the waiver through 2011, FHA said it insured 21,000 90-day property flip loans worth more than $3.6 billion in 2010 that would otherwise not have qualified for financing.
That number has since grown to nearly 42,000 mortgages worth more than $7 billion on properties resold within 90 days of acquisition.

Shy Shinalt
Keller Williams Tyler
http://www.shyshinalt.com/

Tyler Texas,Tyler Texas Real Estate,Tyler Tx,Tyler Tx homes for sale,real estate Tyler Texas,Tyler MLS,Tyler Tx properties,tylerhomes,Keller Williams Tyler Texas,Tyler Texas real estate,  Tyler tx real estate, tyler real estate, tyler homes, homes for sale tyler tx, real estate tyler texas, tyler texas homes, flint tx real estate, bullard real estate, lindale real estate, tyler texas realtors, real estate tyler tx,Trulia, Tyler real estate, Tyler Homes, Tyler Homes For Sale, Tyler properties, Tyler listings,homes, houses, properties, Realtor.com, Tyler real estate, Tyler homes for sale, Tyler TX property, Tyler, Tyler, TX Homes for Sale & Real Estate | Homes.com., homes for sale Tyler Tx,Tyler Texas,Tyler Texas Real Estate,Tyler Tx,real estate Tyler Texas,Tyler Tx homes,Ben Fitzgerald Real Estate Services, Tyler homes for sale, Tyler real estate, Tyler TX homes for sale, Tyler Texas homes for sale, Tyler houses for sale, Tyler houses, 'Tyler, Texas homes, real estate, residential, real, estates, homes, houses, TX, Texas real estate, for sale, sales, for, buyers, Smith County, County, property, properties, Realtors, ocean, city, homebuyers, househunt, land, condominiums, townhomes, townhouses, single family residence, golf, resorts, mountain, oceans, beaches, mls, lakes, condos, lots, vacation, realty, second homes, new construction, buy, agents, brokers, newer, older, luxury, large, huge, expensive, multi, million dollars, high, listing database, HomeFinder, Tyler, TX homes for sale, Tyler, TX properties, Tyler, TX real estate, Tyler Listings, Tyler FSBO Tyler, TX Homes for Sale & Real Estate | Homes.com, Pamela Walters offers Tyler Texas Real Estate, Tyler TX Real Estate, Tyler TX Real Estate For Sale, and more."><meta name="keywords" content="Tyler Texas Real Estate, Tyler TX Real estate, Tyler TX Real Estate for sale, real estate tyler tx, Cascades, The Cascades, Cascades Tyler, Golf Resort, Country Club, Spa, seller financing, mansion, estate home, restrict, Home, listings, real estate, for sale, new condo, townhouse, agent, broker, mls, relocation, Tyler, Texas, lot, land, buyer, seller, Coldwell banker tyler, century 21 tyler, Tyler Real Estate, Flint Real Estate, Whitehouse Real Estate, Bullard Real Estate, Chandler Real Estate, Lindale Real Estate, Arp Real Estate, Lake Palestine Real Estate, Tyler Homes, Tyler Properties, Tyler Realtor, Tyler Real Estate Agent, Tyler, Flint, Whitehouse, Bullard, Chandler, Lindale, Arp, Lake Palestine, Smith County, real estate sales, buyer broker, buyers agent, Real Estate, multiple listing service, condo, condo conversion, townhouse, 1031 tax exchange, prequalification, mortgage loans, home locator, investment homes, investment properties, relocation specialist, residential, real, estate, residential real estate, houses, homes, Real Estate, estate homes, fine homes, multi-million dollar estate homes, multi-million dollar estates, foreclosure, reo, repo, bank repo, short sales, fixer, property, Realtor, Realtors, for sale, sale, buy, buyers, condominiums, townhomes, single family residence, view homes, duplex, duplexes, split levels, ranch style homes, single story homes, two story homes, RV access, pool homes, golf course view, ocean view, city lights view, nice neighborhood, era,

Bankruptcy and purchasing a new home?

http://www.shyshinalt.com/

 

I Have Been Through A Recent Bankruptcy And I Have A VA Loan Certificate. What Are My Options For Purchasing A Home?

Q: My family and I are currently renting a home. Our lease will be up this summer. I went through a bankruptcy a couple of years ago due to a failing business in the downswing of the economy. Things are looking up for my family right now. I have a VA Loan certificate,also. What is the negative and the positve of us purchasing a house right now?
–New Journey,
A: Hello -
I recently closed a transaction with a VA buyer, using a VA loan, so I called my lender to give me information to answer your question.
Did your bankruptcy include a foreclosures?
If your bankruptcy did NOT include a foreclosure, after 2 years (after the discharge date) and with good credit after the bankruptcy, and closing funds in the bank, you should be able to get a VA loan. Your lender will pull your Caivers number and if it comes up positive, you’re good. However, if it comes up negative, you cannot get a loan. The type of things that give you a bad Caivers number are foreclosures and any type of default, even student loans.
If your bankruptcy DID include a foreclosure, you will need to wait for 3 years AFTER the SALE DATE. Sometimes your house gets foreclosed on and it takes the bank 1-2 years to sell. You have to wait 3 years AFTER the date the bank actually sells the property.
I hope this information helps, as now is a great time to purchase homes, as prices are historically low AND interest rates are very low too. My recent clients got a 4% fix loan through the VA in January this year. Hopefully you can qualify for a similar loan in your area.
If you don’t know about it already, as a Veteran, you can bank with USAA and use them for VA home loans, home insurance, car insurance, etc. The have a dot.com address. Unfortunately this website does not allow me to give you full names, email addresses, phone numbers, or websites, so I’m not including any of that sort of information because I want to make sure you get this answer.

Shy Shinalt

Keller Williams Tyler

http://www.shyshinalt.com/

Tyler Home Sales Decrease In December

www.shyshinalt.com



Tyler Home Sales Decrease In December

By CASEY MURPHY
Business Editor

The Tyler area saw a 5.26 percent decline in home sales in December compared to the same time the year before.

There were 198 houses sold in the area last month, compared to 209 units sold in December 2010, according to figures released Thursday from the Greater Tyler Association of Realtors.

The December sales were a 4.8 percent decrease from the 208 houses sold in November.

Mary Smith, RE/MAX broker associate and chairwoman of the Greater Tyler Association of Realtor’s PR Committee, said she believes the decrease in sales could be because of the holiday season.

“I really feel that the holidays come and people do things differently,” she said.

Ms. Smith feels the bigger story is how the Tyler area finished the year.

She said nearly 5 percent more houses were sold in 2011 than in 2010. Tyler also saw a more than 6 percent increase in total dollar volumes last year than in 2010, she added.

Ms. Smith said there were tax credits in 2009 and for part of 2010. And she believes 2011 was a good year because sales in 2011 were “neck and neck” with 2009 without any incentives.

“Home buyers are coming out and exhibiting confidence,” she said.

Ms. Smith said local residents appeared confident in the interest rates, which were “pretty stable” in 2011 and were not worried about them being raised.

The Tyler area also saw a slight decrease in housing costs.

The median home price for December was $129,750, a 0.19 decrease from the median price of $130,000 the year before. Last month’s price was a 13.47 percent decline from November’s $149,950.

The Tyler area’s home inventory stood at 12 months in November, the latest month for which figures from the Real Estate Center at Texas A&M University were available.

That is down from the same time the year before when the inventory was at 13.4 months, and down from 13.3 months in September.

Home inventory is how long based on the past year’s sales rate it would take to clear out existing inventory, with no more homes introduced into the market.

Smith County saw only eight foreclosures in December, five of which were in Tyler, according to RealtyTrac.

Total home sales for Texas in November were up, according to the latest figures from Real Estate Center at Texas A&M University.

The state saw 15,004 homes sold in November, an 8.2 percent increase from the same time the year before, when 13,869 homes were sold in the state. The November totals were also a 2.69 decrease from October.

Texas median home price for November was $147,400, a 0.75 percent increase from November 2010, when it was $146,300, and a 0.61 percent increase from October.

The state’s inventory stood at 6.5 months in November, down slightly from 7.6 months the same time the year before and from 6.9 months in October.

Texas had 8,586 foreclosures in December, according to RealtyTrac

Shy Shinalt
Keller Williams Tyler
www.shyshinalt.com

Tyler Texas,Tyler Texas Real Estate,Tyler Tx,Tyler Tx homes for sale,real estate Tyler Texas,Tyler MLS,Tyler Tx properties,tylerhomes,Keller Williams Tyler Texas,Tyler Texas real estate,  Tyler tx real estate, tyler real estate, tyler homes, homes for sale tyler tx, real estate tyler texas, tyler texas homes, flint tx real estate, bullard real estate, lindale real estate, tyler texas realtors, real estate tyler tx,Trulia, Tyler real estate, Tyler Homes, Tyler Homes For Sale, Tyler properties, Tyler listings,homes, houses, properties, Realtor.com, Tyler real estate, Tyler homes for sale, Tyler TX property, Tyler, Tyler, TX Homes for Sale & Real Estate | Homes.com., homes for sale Tyler Tx,Tyler Texas,Tyler Texas Real Estate,Tyler Tx,real estate Tyler Texas,Tyler Tx homes,Ben Fitzgerald Real Estate Services, Tyler homes for sale, Tyler real estate, Tyler TX homes for sale, Tyler Texas homes for sale, Tyler houses for sale, Tyler houses, 'Tyler, Texas homes, real estate, residential, real, estates, homes, houses, TX, Texas real estate, for sale, sales, for, buyers, Smith County, County, property, properties, Realtors, ocean, city, homebuyers, househunt, land, condominiums, townhomes, townhouses, single family residence, golf, resorts, mountain, oceans, beaches, mls, lakes, condos, lots, vacation, realty, second homes, new construction, buy, agents, brokers, newer, older, luxury, large, huge, expensive, multi, million dollars, high, listing database, HomeFinder, Tyler, TX homes for sale, Tyler, TX properties, Tyler, TX real estate, Tyler Listings, Tyler FSBO Tyler, TX Homes for Sale & Real Estate | Homes.com, Pamela Walters offers Tyler Texas Real Estate, Tyler TX Real Estate, Tyler TX Real Estate For Sale, and more."><meta name="keywords" content="Tyler Texas Real Estate, Tyler TX Real estate, Tyler TX Real Estate for sale, real estate tyler tx, Cascades, The Cascades, Cascades Tyler, Golf Resort, Country Club, Spa, seller financing, mansion, estate home, restrict, Home, listings, real estate, for sale, new condo, townhouse, agent, broker, mls, relocation, Tyler, Texas, lot, land, buyer, seller, Coldwell banker tyler, century 21 tyler, Tyler Real Estate, Flint Real Estate, Whitehouse Real Estate, Bullard Real Estate, Chandler Real Estate, Lindale Real Estate, Arp Real Estate, Lake Palestine Real Estate, Tyler Homes, Tyler Properties, Tyler Realtor, Tyler Real Estate Agent, Tyler, Flint, Whitehouse, Bullard, Chandler, Lindale, Arp, Lake Palestine, Smith County, real estate sales, buyer broker, buyers agent, Real Estate, multiple listing service, condo, condo conversion, townhouse, 1031 tax exchange, prequalification, mortgage loans, home locator, investment homes, investment properties, relocation specialist, residential, real, estate, residential real estate, houses, homes, Real Estate, estate homes, fine homes, multi-million dollar estate homes, multi-million dollar estates, foreclosure, reo, repo, bank repo, short sales, fixer, property, Realtor, Realtors, for sale, sale, buy, buyers, condominiums, townhomes, single family residence, view homes, duplex, duplexes, split levels, ranch style homes, single story homes, two story homes, RV access, pool homes, golf course view, ocean view, city lights view, nice neighborhood, era,

Keller Williams Tyler Offers Five Questions to Ask Yourself Before Deciding to Buy

Friday, January 20, 2012

Keller Williams Tyler offers Five Questions to Ask Yourself Before Deciding to Buy

Perhaps you’ve found a house, or maybe you’ve just started the house hunt, but regardless of where you are in the home-buying process,you need to consider some key questions before you even think about making an offer. Buying a home is a big commitment — financial and otherwise — so take the time to weigh pros and cons.

Here are five questions every home buyer should ask themselves:

Will I own it for at least five years?

The first and most important item you should ask yourself before you consider buying any property is whether you will own it for a long time. People buy property in hopes of increasing wealth and five years is about the break-even point for earning appreciation in value above the buying and selling transaction costs. Therefore, if you don’t plan on holding the property for longer than five years, skip it!  Renting a home is NOT necessarily throwing money away. Buying and selling quickly will usually leave you worse off financially than if you just held off on becoming a homeowner.

Do I love the home I want to buy?

One of the second most important items is do you love the property?  Real estate should be held for the long term, and loving a property should perpetuate a happy enduring ownership. So don’t buy a property if you don’t love it or at least really like or want that particular property. And don’t buy just “to buy” or if someone tells you it is a good idea. Buy what you want, when you are ready, and buy a home that you will proudly boast about to your friends over the years and years.

Can I afford it?

It  is more expensive to own a home than anyone anticipates.  Even if the mortgage lender qualifies you for a certain loan amount and property price, you need to make sure YOU can afford it. Lenders don’t generally take into account child care expenses, health care expenses, expensive lifestyles and habits, etc. So make sure that you can comfortably afford your housing payment, still pay your other bills, and still save at least a little more for retirement. Also, if you are not sure of your continued employment situation for any reason, wait until your situation is stable so you can make those mortgage payments.

Is the home in good shape?

Here’s another warning: Fixer uppers rarely sell at a big enough discount to compensate for all the work that needs to be done. The cost of construction and property rehabilitation is outrageous, and unless you are a contractor, it almost undoubtedly will cost much more than you anticipate. So leave the “needs TLC” or “fixer-uppers” to the contractors.  You want to buy something in decent shape and livable condition so you don’t get mired in rehab disaster. (Ever seen the movie “The Money Pit"?)

Do I know about the neighborhood?

Did you do adequate research, look at enough properties, learn the neighbors, and learn about property ownership before you made an offer? If you just moved into town or if you don’t know the area, rent for a while and search out the perfect community in which you would like to live within your financial means. As with any big investment, the better you educate yourself the lower your risk of something going wrong.

While there is no risk-free real estate, considering the questions above should increase your chances of having a great, long-term, property ownership experience. 

Shy Shinalt

Keller Williams Tyler

http://www.shyshinalt.com

 

 

Winterizing your home Tyler Texas kw.com

It may be cold outside, but it's no time hibernate when it comes to home maintenance. Have you ever wondered how some friends or neighbors live in older homes that are still in good working order? This isn't just a lucky coincidence.


Houses require careful attention, especially in the Winter, in order to keep in good working order. If you take the extra time each season to check your home over and perform the necessary maintenance, then you'll be sure to have a sturdy home for years to come.

First, it's important to keep your family safe and warm when it's chilly outside. Do a twice yearly check on your windows and doors for air leaks. Under most circumstances you can easily fix these with caulking.

Are your windows in need of a more energy efficient upgrade? Have you thought about installing storm windows and doors? These are important questions to ask yourself. If you have older, non-insulated windows it may be time to replace them. You can even deduct some of these upgrades from your incomes taxes!

If you find leaks, then take the necessary action to fix them pronto. You may find that some doors continue to leak air even after you've made them "air-tight." This means it is time for Plan B. Storm doors work wonders for keeping out the elements. Many stores also sell draft blockers that sit at the bottom of you doors.

Next, schedule a time to service your heating system. Central heat and air units need to be checked over. When a unit is well-serviced it will save you fuel and thus money.

If your home is older, then you might consider a trip to the attic to check ductwork. You never know what critter has chewed through ducts or what parts have become disconnected.

While you're in the attic take a hard look at the state of your insulation. Is it adequate for your region? Is ductwork well-insulated? Older homes can sometimes be completely devoid of attic insulation. If so then it's time to bring in some reinforcements. Insulation is relatively inexpensive and can save you big in the long run.

Do you heat using a wood burning fireplace? Is it imperative for your safety to have your chimney cleaned and checked multiple times during the Winter season if you use your fireplace regularly. Chimney fires happen all the time.

There are smaller issues to attend to as well. Did you know that your ceiling fans have two settings for the blades? You want to be sure to reverse your fan in the Winter so that it pushes the hot air (which naturally rises) back down into your living spaces.

Gutters become full of leaves and other debris. If you fail to clean your gutters they can begin to hold water which can eventually rot away the siding and roof of your home.

When the weather drops below freezing you need to keep your pipes from freezing. Let faucets drip and unhook all outdoor hoses.

Finally, every responsible homeowner is stocked with the proper tools. Keep sand or salt on hand to de-ice slipper steps and sidewalks. Invest in a heavy duty snow shovel or snow blower.

Your home is your biggest asset and literally keeps a roof over your head. Be kind and take care even during the chilly Winter months.

Shy Shinalt
Keller Williams Tyler
www.shyshinalt.com