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Tyler Homes Tyler Texas10 Lessons to Learn as the Housing Market Recovers

10 Lessons to Learn as the Housing 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

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At least 10 killed after shooting during ’Dark Knight’ screening in Colorado

At least 10 killed after shooting during ’Dark Knight’ screening in Colorado

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

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Tyler Homes ~ Tyler Homes for Sale ~ Tyler Encourages Responsible Water Use

Tyler Encourages Responsible Water Use

Tyler Encourages Responsible Water Use Tyler remains under voluntary water restrictions to help conserve supplies as another hot Texas summer closes in. The city has been on voluntary restrictions since late March, easing a December order that called for mandatory cutbacks. Tyler Public Works Director Greg Morgan said Tuesday the city is taking this proactive measure to voluntarily conserve water now for later. "The City of Tyler currently remains under step one water conservation measures," Morgan said. Plentiful spring rainfall helped refill East Texas lakes and recharge the soil -- two pluses going into the hot, dry months ahead -- but levels still are below normal. "The Lake Tyler/Lake Tyler East system still remains about 2.5 feet down from a full elevation of 375.5," Morgan said. "As such, it is incumbent upon the customers of Tyler Water Utilities to remain good stewards of our environment and to utilize this natural resource in a responsible manner." Tyler has a very stable, long-term water supply that is projected to last for decades, if people use it responsibly, officials said. Morgan said water production and lake levels are being evaluated on a daily basis, and staff is prepared to adjust conservation measures as needed to conserve.
National Weather Service officials said Tuesday the summer months should be somewhat hotter and drier than normal, but nothing close to the withering conditions of last summer. It is, after all, Texas. "To quote a cliche, on the fourth of July it's going to be hotter than a firecracker," Hydrologist C.S. Ross said this week. For fall, there are indications of a return to El Nino conditions, characterized by cooler, wet weather. In the interim, residents are asked to limit irrigation of landscaped areas to Sundays, Tuesdays and Thursdays if their street address ends in an even number (0,2,4,6,8); or Saturdays, Mondays and Wednesdays if their address ends with an odd number (1,3,5,7,9). Irrigation also should be done between the hours of 10 p.m. and 6 a.m., officials said. Tyler's pumping capacity is about 72 million gallons per day -- 8 million from deep water wells, 34 million from Lake Tyler and Lake Tyler East and 30 million from Lake Palestine. The city of Dallas also has rights to remove water from Lake Palestine but is not yet drawing from that source, officials said. Tyler first began calling for voluntary cutbacks last October. At that time, Lake Tyler was 6.9 feet below spillway levels and Lake Palestine was about 5.9 feet low, records show. Residents are asked to not waste water. Waste is considered the elective use of water, such as washing house windows, sidings, eaves and roof with a hose without the use of a bucket, officials said. Other types of water waste include washing driveways, streets, curbs, gutters and vehicles without a cut-off valve and bucket. External Relations Director Susan Guthrie said residents should check their sprinkler systems to ensure they are appropriately timed and positioned. "When you set your sprinkler systems, make sure they are not watering the streets and sidewalks," she said. Residents also are asked to check for leaking faucets and toilets to help conserve.
Shy Shinalt
Keller Williams Tyler
903.533.8114
www.shyshinalt.com

If you are thinking of buying or selling your Tyler Home contact Shy Shinalt with Keller Williams Tyler for all of your Tyler Homes needs.

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Tyler Homes ~ Tyler Texas (TX) Homebuying secrets to steal from flippers - MSN Real Estate

Homebuying secrets to steal from flippers - MSN Real Estate

The words "real-estate investor" are enough to make many buyers grit their teeth. With inventory tight, these all-cash rivals are hard to beat when it comes to nabbing properties.
If you can't beat them, you might as well learn from them. How do they pinpoint the best deals? And how can you make your offer stand out from others?
We asked Doug Clark and Mike Baird, the two investor partners behind Spike TV's "Flip Men" reality show, for their tips on navigating the homebuying process intelligently.
In this month's Buying Advice, we'll also look at the kinds of problems a home inspection can turn up, and how having one done can save you money — both at closing and on your utility bills. And we'll check in with the latest housing statistics, which point to a slow but continued recovery.
A little flippin' advice
For "Flip Men" Clark and Baird, every purchase begins with a lot of homework. "We start by studying the neighborhood," Clark says.
As soon as a traditional listing or foreclosed home becomes available, they scrutinize the surrounding three blocks and look at the following factors:

• How many homes are on the market and how long have they been on the market?
• What condition are these properties in?
• What's in escrow? What have houses nearby sold for in the past 90 days?

Buyers must take the time to learn the marketplace and look at a lot of homes, so they will know real value when they see it. "We see more than 100 homes for every one we buy," Clark says.
But, Baird says, "Most people want to get serious the first day they go out and look at homes."
They say you need to treat homebuying more like dating: See what's out there and figure out what features you like so you can jump when you see the perfect fit.
And in order to move quickly and land that prime piece of property, you must be preapproved for a loan and know what terms you can offer a seller.

• On our blog, 'Listed': With flips flopping, investors becoming landlords

With fewer homes on the market, buyers will often find themselves bidding against several other bidders. Without cash or the ability to offer a much higher price — for fear that a property won't appraise — buyers have to focus on terms that make life easier for the seller.

• Can you get a home inspection and other due diligence done right away?
• Can you close in two weeks?
• Can you put a larger amount of earnest money down to show your commitment to closing the deal?

"You want to make sure you can offer the right terms and conditions and are ready to go," Clark says. And you need to have an experienced agent who can communicate that to sellers.
"Don't just get your relative or your friend from high school [to represent you]; you want someone who really knows the industry," Baird says. So many people, he says, sign a buyers agreement with the first agent they meet, rather than shopping around. Experienced agents who are working full time can get out to — and get you into — properties before other bidders.

Homebuying secrets to steal from flippers - MSN Real Estate

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Tyler Homes ~ Fugitive captured in ETX with help from America's Most Wanted

Fugitive captured in ETX with help from America's Most Wanted

Posted: Jul 02, 2012 1:00 PM CDT Updated: Jul 02, 2012 1:04 PM CDT

By Kerri Compton - bio | email

 

Brian Fuller. Photo Source: America's Most Wanted

A man who was wanted for robbery in Wichita Falls was apprehended in Frankston after a tip on America's Most Wanted.

Here is his story from America's Most Wanted:

Brian Maurice Fuller was one of those guys who could seemingly do it all. He was an accomplished piano player, he had a flair for home decorating and extensive knowledge of antiques and collectibles. In his mind though, it was his tennis playing that was going to be his ticket out of Wichita Falls, Texas.

He got a job at the local country club, teaching the city's upper crust how to serve and volley. He figured he'd parlay those relationships into people who would finance his career on the pro tennis circuit. But that plan went awry when he learned the people he taught saw him as nothing more than another country club worker. With that failed venture, Maurice's hatred for the wealthy, especially women, grew.

With his dreams of playing tennis vanishing, Fuller found another use for the country club dwellers: they'd become his victims. Fuller turned to using these relationships as entres into rich houses where he'd use his knowledge of antiques and expensive pieces of art to rip them off. The plan worked swimmingly until he made the critical mistake of fencing the goods across state lines. When cops finally caught up with him, he went down Federally. You'd think serving significant time would scare someone straight. For Maurice, cops say it just forced him to re-think how he committed his crimes.

Upon his release from Federal prison, it appears that Fuller had made amends. He dabbled in real estate, even opening interior decorating and roofing businesses. He became a well-known fixture in the Wichita Falls business world. He made a habit of hiring down-on-their luck convicts and drug addicts to do his labor. It could be said he did it to give these poor souls a second chance.

But that wouldn't be correct. Just ask Timothy Walters.

Walters was a heroin addict, desperate for any dollar he could shoot into his veins. Maurice knew that so when he scanned his employee list for a specific job, Walters fit the bill. According to Walters, the agreement was $1000 and heroin. But what he had to do was pretty vague. On January 25, 2010, cops say Maurice pulled into the parking lot of a Whole Foods in an upscale neighborhood in Dallas. A drugged-up Walters rode shotgun. Surveillance cameras show Fuller's gleaming-white Jaguar prowl the parking lot for the right parking space.

The videotape continues to roll to show what appears to be Fuller walking into the store, wearing his trademark pajama pants and flip flops. The final piece of videotape is the most insidious: minutes later, store customer Jil Katz leaves the store and rounds the corner. It is at her car where it all goes down: the videotape shows Walters get out of Fuller's car and attack Katz. Walters admits to beating her and taking a necklace and a beautiful diamond ring. He claims it was all Fuller's doing. He says Fuller cased the store, looking for the right target. Apparently, Katz was that target.

Cops arrested both Fuller and Walters, but a judge allowed Fuller out on bail, awaiting trial.

Authorities arrested Brian Fuller in Frankston, TX., as the result of tips received by the AMW hotline