Texas land prices reached a new high in the 1st quarter of 2017, however, deflated prices have essentially remained rather flat since 2015.   These 1st quarter results indicate that current market dynamics reflect a more measured environment compared to the accelerated growth in 2013-2014.  At $2,536 per acre statewide the increase is 2.6% more than the prior year.  Agricultural commodities continue to outstrip demand, signalling weak operating conditions for farms and ranches.  STILL A GOOD TIME TO BUY LAND!!

Primarily for investors who have CASH ready to buy.  Investors use Zillow’s built in comparative market analysis tools when making their bids.  All cash offers represent less than 1% of the total market share.  The service that REALTORS provide is invaluable & this “buy-it-now” strategy is dangerous to consumers who are putting  most of their life savings in a home.  Services that Realtors provide will not go out of style, even as technology progresses.  SEEMS THERE IS ROOM FOR ALL OF US!!

Solar equipment panels are generally warrantied for 25 years, but maybe 40 years.  Inverters are warrantied for 10-15 years, but can last 20 years.  Generally, panels face south & are tilted to match the local latitude.  Too weighty (2 – 4 ) lbs per square foot to be installed on a roof.  Could a mounted on a shade structure (let cows rest under it) or a rack on the ground.  Annual savings in TYLER are $784 per year or 11 cents.  CERTAINLY WORTH CONSIDERING!!

The PV systems have dropped in price & including installation it is now $3 to $4.50 for a residential system.  In TYLER the Solar Energy produced per year is 7,131 kWh or a savings of $784 or 11 cents.  An average home in TX uses 13,894 kWh of electricity per year, so in Tyler use less.  Can also save money with (1)  Tax credits:  (2)  Depreciation:  (3)  Cash incentives: & (4) USDA Rural Energy for America Program.  MORE TO COME!

(4)  Ignoring resale value.  While house hunting, the idea of selling your new home may seem like a remote & distant prospect.  But life often dishes out unexpected changes – such as a job or marital change, wrong size, etc.  Avoid a purchase that other buyers may find undesirable or hard-to-modify features.  (5)  NOT hiring an Accredited Buyer’s Representative.  Only a select few of real estate agents have spent the extra coursework + prior experience to keep up with latest issues and trends.  DAVE BAIN, BAIN REAL ESTATE IS AN ACCREDITED BUYER’S REPRESENTATIVE (ABR) + CAROLYN BAIN ASSISTS HIM.

(1)  Underestimating costs, such as utility bills, home maintenance expenses, property taxes & maybe HOA dues & more.  (2)  Overlooking important financing details, such as credit report, how much cash putting down so can determine loan amount, etc.  (3)  Not researching the neighborhood, such as schools, parks, safety, proximity to transportation, shopping & whatever else is important to you.  CONTINUED NEXT TIME!!

Sustainable neighborhood features:  (1)  Parks & outdoor recreation;  (2)  Access to local food;  (3)  Recycling;  (4)  Walkability;  (5)  Public transportation;  (6)  Bike lanes/paths.  All of these are desirable features buyers look at when buying a home and your local REALTOR can help with all this.  SO JUST CONTACT THEM OR DAVE & CAROLYN BAIN, BAIN REAL ESTATE AT 903-571-2191.

Home features that Realtors said clients consider to be very important include:  (1)  Efficient use of lighting;  (2) A smart/connected home;  (3)  Green community features such as bike lanes & green spaces;  (4)  Landscaping for water conservation; & (5)  Renewable energy systems such as solar & geothermal.  CONTINUED NEXT TIME!

A 30 year conventional loan with a credit score over 720 and can get a rate of 4.125% with APR 4.285% & NO points with a 45 day lock.  15 year conventional loans can be 3.250%.  VA, FHA and USDA have similar rates, so THIS IS A GREAT TIME TO PURCHASE A NEW HOME & LEAVE SOME EXTRA MONEY IN YOUR POCKET.  Even with the Federal Reserve raising the short-term interest rate in March, usually mortgage rates follow suit – but did NOT this time.  We will see, won’t we!

2016 saw 216 new jobs & 1,507 retained with a total investment of $45.5 million.  The City of Tyler saw an increase of 11.9 in building permits, according to CEO Tom Mullins of Tyler Economic Development Council.  Sales tax revenues weRe down 3.5% from the energy sector and online sales.  Unemployment in Smith County held steady at 4.5%.  THREE new companies are looking at moving to Tyler for 925 new jobs.  Sanderson Farms is the big 2017 news.  WE ARE MOVING ON!