Tyler TX Real Estate BlogRecently posted or modified blog postshttps://www.tylerhousehunters.com/blog/Copyright TylerHouseHunters.com2024-03-17T23:27:06-07:00tag:tylerhousehunters.com,2012-09-20:24366What Makes Owning a Home Such a Great Investment?<img src="https://assets.site-static.com/userfiles/3349/image/homeowner.jpg" width="450" height="350" alt="Why invest in a home?" title="Why invest in a home?" style="float: right; margin: 11px;" />You've likely heard people say that owning a home is one of the best things you can do for your financial future. It's the classic American dream and a milestone that provides a sense of major accomplishment. If you're wondering whether the effort required to become a homeowner is worth it, looking at <a href="https://www.tylerhousehunters.com" target="_blank">homes for sale in Tyler</a> and considering how to make owning one a reality for you, we can help.
<a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.tylerhousehunters.com" target="_blank">Tyler homes for sale</a>, and keep reading to understand why homeownership is one of the best things you can do for your personal finances.
Building Equity
Perhaps one of the most influential factors in owning a home is the equity you will build. Home equity is the difference between what you owe on your mortgage and how much your home is worth. Homeownership in Tyler allows you to build equity over time, as you pay down your mortgage and your home appreciates in value.
Unlike renting, where monthly payments contribute solely to the landlord's equity, homeownership enables you to accumulate wealth by investing in an asset that has the potential to appreciate over time. As property values in Tyler continue to rise, homeowners can benefit from the appreciation of their homes, thereby increasing their net worth and financial stability.
As the equity in your home grows, you will have opportunities to leverage that equity toward your other financial goals. Through refinancing, selling for a profit, or taking out a loan or line of credit against the equity, new financial options will be available to you.
Tax Benefits
Homeownership in Tyler comes with various tax benefits that can help homeowners reduce their tax liability and increase their disposable income. Mortgage interest deductions, property tax deductions, and capital gains exclusions are among the tax incentives available to homeowners, providing opportunities to save money on taxes and reinvest those savings into wealth-building activities such as retirement savings, investments, or home improvements. By leveraging these tax advantages, you can optimize your financial situation and enhance your long-term financial well-being.
Stabilized Housing Costs
Owning a home in Tyler provides stability and predictability in housing costs, as mortgage payments remain relatively consistent over the long term. Unlike renting, where landlords may increase rents annually, homeowners can lock in their housing costs with a fixed-rate mortgage, allowing them to budget more effectively and allocate resources towards other financial goals.
Additionally, homeownership offers protection against inflation, as property values and rental rates tend to rise over time, providing a hedge against rising living expenses. You can likely expect your wages or salary to increase over time, while your housing costs will be frozen in the past. In other words, your home will become more and more affordable over time.
Wealth Transfer
Homeownership in Tyler provides opportunities for intergenerational wealth transfer, as homeowners can pass down their homes to future generations as part of their estate planning strategy. By owning a home in Tyler, you can create a legacy of homeownership that will benefit your children and grandchildren for generations to come. Additionally, homeownership can serve as a vehicle for wealth accumulation and upward mobility, allowing families to build a foundation for financial success and prosperity that extends beyond their lifetime. Whether you are leveraging your equity to help fund your children's goals, or just providing a safe and stable foundation for them, owning a home can provide benefits that have a domino effect beyond your personal finances.
By embracing homeownership as a pathway to wealth accumulation and prosperity, residents of Tyler can unlock the full potential of homeownership and reap the rewards of owning a home in one of Texas's most dynamic and vibrant communities. If you're ready to<a href="https://www.tylerhousehunters.com" target="_blank"> invest in a home in Tyler</a> and begin building your financial future, <a href="https://www.tylerhousehunters.com/contact/" target="_blank">contact us</a> any time.2024-03-14T17:14:00-07:002024-03-17T23:27:06-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:24075Myths About When You're Ready to Buy a Home<img src="https://assets.site-static.com/userfiles/3349/image/myths.jpg" width="450" height="350" alt="Buyers myths" title="Buyers myths" style="float: right; margin: 11px;" />Are you trying to decide if you're ready to <a href="https://www.tylerhousehunters.com" target="_blank">buy a home in Tyler </a>this year? There can be some conflicting advice about when is the best time to buy, specifically around your personal readiness and market conditions. We want to help you dispel some of the myths around being ready to buy a home and help you find <a href="https://www.tylerhousehunters.com" target="_blank">homes for sale in Tyler </a>that are the right fit for your needs.
<a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to learn more about buying a home in Tyler, and keep reading for myths about when you're ready to buy a home.
Myth: You should wait until you have perfect credit
One of the prevalent myths is the belief that you need a flawless credit score to qualify for a mortgage. While a good credit score is undoubtedly beneficial, it's not the sole factor considered by lenders.
Many successful homebuyers secure mortgages with credit scores that are less than perfect. Lenders evaluate various aspects of your financial profile, including income, debt-to-income ratio, and employment history. Being aware of your credit score and taking steps to improve it is valuable, but don't let the myth of perfection prevent you from exploring homeownership.
Instead, talk with a few lenders and get some real numbers. You may be surprised that your credit score, while not perfect, is good enough to get a rate that makes owning a home a realistic goal in the near future. A lender can show you what you would be approved for, or provide guidance about any part of your finances that need some attention before you buy.
Myth: You need a 20% down payment
You may have heard that you either need 20% to put down, or you really shouldn't buy without having a 20% down payment. The 20% down payment myth can be a significant deterrent for potential homebuyers.
While a substantial down payment can be advantageous in terms of lower monthly mortgage payments by avoiding private mortgage insurance (PMI), it's not a strict requirement. There are actually many mortgage programs that allow buyers to put down less than 20%, making homeownership more accessible. FHA loans, for example, often require a down payment as low as 3.5%. Additionally, there are down payment assistance programs and grants available for qualified buyers, challenging the misconception that a hefty down payment is an absolute prerequisite.
Again, it makes way more sense to talk to your lender before you assume how much money you need to bring to the table.
Myth: You shouldn't buy unless you're ready to settle down for a long time
There's a common belief that homeownership is reserved for those ready to settle down and commit to a particular location for an extended period. However, the evolving nature of careers, lifestyles, and family dynamics challenges this myth.
Some individuals successfully navigate homeownership while maintaining a dynamic lifestyle, moving for career opportunities or personal growth. With proper planning and consideration, it's possible to own a home without sacrificing the flexibility to adapt to life's changes.
One of the keys to success is buying a home that will have great resale value. This way, you can expect to benefit from building equity and having a home that is easy to sell in a few years when you're ready for a change or need to move.
Myth: You should wait for interest rates to come down before you buy
In 2024, interest rates are clearly higher than they were 3 years ago. Some buyers are concerned about buying a home with an interest rate that is so much more than what they had expected a few years before.
However, waiting for 3% or 4% rates to return might be a mistake. While it is possible that rates would dip back down to that low point again, experts don't predict i in the near future. Instead of waiting for your ideal interest rate, focus on the factors you can control.
If you can afford a home with current interest rates, consider buying now to allow that equity to grow. Then, if rates dip down again you can refinance to benefit from the lower rate, but you won't be wasting time or missing opportunities.
Ready to learn more about <a href="https://www.tylerhousehunters.com" target="_blank">buying a home in Tyler</a>? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time. 2024-03-06T18:28:31-07:002024-03-06T18:43:14-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:23919What Can I Negotiate When Buying a House in Tyler?<a href="https://www.tylerhousehunters.com" target="_blank"><img src="https://assets.site-static.com/userfiles/3349/image/negotiate.jpg" width="450" height="350" alt="Negotiate" title="Negotiate" style="float: right; margin: 11px;" />Buying a home in Tyler</a> is a major investment, and we understand the impulse to make sure you are getting the best deal possible. One of the unique benefits of investing in real estate is the opportunity to negotiate the details of the deal. If you are looking at <a href="https://www.tylerhousehunters.com" target="_blank">houses for sale in Tyler</a> and want to know what terms and costs are negotiable, we can help.
<a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.tylerhousehunters.com" target="_blank">investing in Tyler real estate</a>, and keep reading for more information about real estate negotiations in Texas.
Negotiation is a critical aspect of the home-buying process. From the initial offer to the final closing, negotiations play a pivotal role in securing the best deal possible for both buyers and sellers. Understanding what can be negotiated and the importance of working with an experienced real estate agent can significantly impact the outcome of a real estate transaction.
These are some of the common questions buyers have about negotiating.
What can I negotiate when buying a home in Texas?
There are quite a few elements of the purchase that are negotiable when you're buying a home in Texas.
Purchase Price
The most obvious negotiation point is the purchase price of the property. Buyers can make an initial offer below the asking price, and sellers may counter with a higher price. Negotiating the purchase price requires careful consideration of market conditions, comparable sales, and the condition of the property, and we can help you make sure the price you are offering strikes a balance that will get you a good deal without leading the sellers to ignore your offer altogether.
Closing Costs
Closing costs, including fees for appraisal, title insurance, and lender charges, can add up significantly. Negotiating to have the seller cover some or all of these costs can reduce the financial burden on the buyer at closing. We can help you navigate whether including this request is a smart move in your specific case.
Repairs and Renovations
After the home inspection, buyers may identify issues that require repairs or renovations. We can include a home inspection contingency in the offer so that you will be in a position to negotiate if you need to after the report comes back.
Negotiating with the seller to either make repairs before closing or provide a credit to cover the cost of repairs allows you to address any concerns without shouldering the full financial responsibility.
Contingencies
There are more contingencies than just the home inspection that we can include in the offer. Contingencies such as financing and appraisal are common in real estate contracts and provide buyers with an opportunity to negotiate terms that protect their interests. For example, you may negotiate a financing contingency that allows you to back out of the deal if you cannot secure a mortgage on favorable terms.
Closing Timeline
The timeline for closing on the property can also be negotiated to accommodate the needs of both the buyer and seller. Buyers may request a longer or shorter closing period depending on their circumstances, such as the timing of the sale of their current home or relocation plans.
Personal Property
In some cases, the home you want to buy may have something you want to include in the purchase, such as appliances or furniture. We can help you negotiate for these things to be included in the sale of the home. This can add value to the transaction for the buyer while providing the seller with an incentive to close the deal.
Can I negotiate the price after my offer was already accepted?
Even after an offer is accepted, there are terms we can continue to negotiate. This is especially true if your offer included contingencies that left the door open to revisit the terms of the agreement or the price.
While you are not likely to be successful in just changing your mind about the purchase price, if there is new information revealed (after a home inspection or appraisal, for example), you can negotiate based on that new information.
What are the keys to successfully negotiating?
There are books, seminars, and podcasts galore to teach negotiation skills, but we know the most important thing you can do is choose a local real estate expert who knows the relevant laws and market conditions. We bring out constantly updating expertise to the table so you can rest easy and let us support you in reaching a deal that meets your needs.
Negotiating the purchase of a home requires finesse, tact, and effective communication. We have strong negotiation skills honed through years of experience, enabling us to advocate for our clients' interests while maintaining positive relationships with sellers and their agents.
Ready to learn more about <a href="https://www.tylerhousehunters.com" target="_blank">buying a home in Tyler</a>? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time. 2024-02-29T07:35:00-07:002024-03-02T14:55:18-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:23670Should You Buy a Fixer Upper in Tyler?<img src="https://assets.site-static.com/userfiles/3349/image/fixer_upper.jpg" width="450" height="350" alt="Fixer Upper" title="Fixer Upper" style="float: right; margin: 11px;" />As you are house hunting in Tyler, some of the options you come across will fall into the fixer upper category. <a href="https://www.tylerhousehunters.com" target="_blank">Homes for sale in Tyler</a> that need some renovation and updating can be a great investment, but they aren't the right fit for everyone. This post will help you consider the pros of cons of buying a fixer upper in Tyler so you can decide what's best for your unique needs.
<a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to learn more about<a href="https://www.tylerhousehunters.com" target="_blank"> homes for sale in Tyler</a>, and keep reading for helpful information about buying a fixer upper.
Advantages of Buying a Fixer Upper
Affordability
One of the primary advantages of buying a fixer-upper in Tyler is the potential for cost savings. These properties are typically priced lower than move-in ready homes, allowing buyers to allocate funds for renovations and improvements according to their budget and priorities.
It's not as straight forward as looking for the lowest purchase price, though. Make sure that if you are looking at fixer uppers with affordability in mind you make sure to get quotes for any projects that you plan to complete, helping you have an accurate idea of the total cost.
Personalization
Fixer-uppers offer the opportunity for homeowners to create a living space that perfectly suits their preferences. From choosing paint colors to selecting fixtures and finishes, buyers have the freedom to personalize their home according to their taste and lifestyle.
If you know that you want to renovate any home to put your personal touch on it, a fixer upper is sometimes the best way to go. Buying a move-in ready property and then remodeling or renovating is one of the most expensive options, and it may not be realistic to make all the changes you want in order to make the home your home.
Investment Potential
Tyler has seen steady growth in its real estate market in recent years. Buying a fixer-upper can be a strategic investment, especially if the property is located in an up-and-coming neighborhood. As the area develops, the value of the home is likely to appreciate, providing a potential return on investment in the future. While any home is going to benefit from building equity as the market grows, a fixer upper that is then renovated will offer the fastest growing equity.
This also applies if you're looking for an investment property or a flip. For those with a keen eye for real estate, buying a fixer-upper in Tyler presents an opportunity to make a profit. With careful planning and execution of renovations, homeowners can increase the property's value, allowing them to sell it at a significantly higher price than the initial investment.
Historic Charm
Tyler is known for its historic architecture and charming neighborhoods. Many fixer-uppers in the area boast unique features and character that may be hard to find in newer homes. Renovating a historic property allows you to preserve its charm while updating it for modern living; in other words, a fixer upper may offer the best of both worlds.
Potential Drawbacks of Buying a Fixer Upper
Unpredictable Costs
Ask anyone who has gone through a home renovation or works in remodeling: it is nearly impossible to accurately predict the cost of the project. You can get within the ballpark much of the time, but unexpected costs and unpleasant surprises are often just part of the process. Hidden issues such as structural problems, plumbing issues, or electrical problems may arise during the renovation process, adding to the overall cost of the project.
You may also have secondary expenses that arise as a result of a delay in renovation or unforeseen issues. For example, you may expect to be able to live in the home during the renovation but find that you need to pay for a rental or hotel for a time. You may also incur some unexpected expenses for eating out or storage solutions. Make sure you have the flexibility in your budget to allow for unexpected costs.
Timeline
Renovations take time, and living in a construction zone can be inconvenient. If you're on a tight schedule or looking for a quick move-in, a fixer-upper may not be the best option. Delays in the renovation process can also lead to increased stress and expenses.
Stress
While not true for everyone, some temperaments and personalities find the renovation process highly stressful. The renovation process can be full of stressors, especially for those who are not experienced in home improvement. Making decisions about design, materials, and contractors can be overwhelming. It requires careful planning and a willingness to navigate potential challenges.
Financing Challenges
Securing financing for a fixer-upper can be more challenging than obtaining a mortgage for a move-in ready home. Traditional lenders may be hesitant to provide loans for properties in need of extensive repairs. You may need to explore alternative financing options, so do some research and talk with multiple lenders before you begin house hunting in Tyler.
Ready to <a href="https://www.tylerhousehunters.com" target="_blank">find your home in Tyler</a>? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time. 2024-02-23T08:14:00-07:002024-02-24T15:29:16-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:23533What Buyers Need To Be Aware Of When Purchasing A New BuildIn the pursuit of a new home, buyers often find themselves attracted to the allure of a brand-new build. The promise of pristine finishes, modern amenities, and the absence of previous wear and tear can be undeniably appealing. However, beneath the surface of this fresh facade lies a landscape riddled with potential pitfalls and considerations that buyers must navigate carefully. From hidden costs to construction delays, here's what prospective homeowners need to be aware of when purchasing a new build.
<img src="https://assets.site-static.com/userfiles/3349/image/Buying_a_New_Build_or_New_Construction_in_Tyler_TX.jpg" width="900" height="600" alt="Buying a New Build or New Construction in Tyler TX" title="Buying a New Build or New Construction in Tyler TX" />
What Buyers Need To Be Aware Of When Purchasing A New Build
Budgeting Beyond the Base Price
While the base price of a new build may seem enticingly affordable, <a href="https://www.tylerhousehunters.com/buyers/">buyers</a> must be prepared for additional expenses that can quickly escalate. Extras such as upgrades, <a href="https://firstfruitslandscaping.com/" target="_blank">landscaping</a>, and legal fees can substantially inflate the final cost. It's essential to meticulously review the contract and consult with a financial advisor to ensure that the budget encompasses all potential expenditures.
Understanding the Timeline
Patience is indeed a virtue when it comes to <a href="https://www.tylerhousehunters.com/new-construction/">purchasing a new build</a>. Construction timelines are notoriously fluid, and delays are not uncommon. Factors such as inclement weather, material shortages, and permitting issues can significantly impact the completion date. Buyers should maintain open communication with the developer and prepare for the possibility of a prolonged wait before move-in day arrives.
Researching the Developer's Track Record
Not all developers are created equal, and their reputation can greatly influence the quality of the finished product. Before committing to a purchase, buyers should conduct thorough research into the developer's history, including past projects, customer reviews, and any legal disputes. A reputable developer with a proven track record of delivering high-quality homes on schedule is a reassuring sign for prospective buyers.
Scrutinizing the Warranty
New builds typically come with a warranty, offering coverage for structural defects and major systems. However, the specifics of these warranties can vary widely, so it's crucial to review the terms carefully. Pay close attention to the duration of coverage, what is included (and excluded), and the process for filing a claim. Understanding the warranty ensures that buyers are adequately protected against potential issues down the line.
Inspecting the Property Thoroughly
Despite being brand new, new builds are not immune to flaws and imperfections. Before finalizing the purchase, buyers should conduct a comprehensive inspection of the property, preferably with a qualified inspector. Look beyond the surface aesthetics to assess the quality of construction, installation, and finishing details. Identifying any issues early on allows for timely rectification before they escalate into more significant problems.
Considering Future Developments
The appeal of a serene, undeveloped neighborhood may be one of the reasons for choosing a new building. However, buyers should consider the potential for future developments in the area. New roads, commercial projects, or housing developments can significantly impact property values and quality of life. Researching local zoning plans and future developments provides valuable insight into what the neighborhood may look like in the years to come.
Evaluating Energy Efficiency
With increasing emphasis on sustainability and energy efficiency, many new builds boast green features designed to minimize environmental impact and reduce utility costs. Buyers should inquire about the <a href="https://www.relocatetosunnystgeorge.com/blog/tax-credits-for-energy-efficient-homes/" target="_blank">home's energy-efficient features</a>, such as insulation, HVAC systems, and appliances. Investing in a home with high energy efficiency not only benefits the environment but also translates into long-term savings on utility bills.
Securing Financing Early
Obtaining financing for a new build can be more complex than for an existing home. Lenders may have specific requirements and processes for <a href="https://www.tylerhousehunters.com/buyers/mortgage-pre-approval/">financing new construction</a>, including periodic disbursements based on construction milestones. Buyers should secure financing early in the process and work closely with their lenders to ensure a smooth and timely closing.
Navigating HOA Regulations
Many newly built communities are subject to homeowners' association (HOA) regulations, governing everything from exterior aesthetics to community amenities. Buyers should carefully review the HOA rules and fees to understand their obligations and restrictions as homeowners. Additionally, consider whether the HOA fees are commensurate with the amenities and services provided.
Preparing for the Unexpected
Despite meticulous planning and research, <a href="https://www.tylerhousehunters.com/blog/how-to-plan-for-unexpected-costs-with-new-construction-homes-in-tyler/">unforeseen challenges and charges may arise</a> during the home-buying process. Buyers need to remain flexible and adaptable, maintaining open communication with all parties involved. Having a contingency plan in place can help mitigate stress and uncertainty, ensuring a <a href="https://www.tylerhousehunters.com/blog/benefits-of-homeownership/">smoother transition into homeownership</a>.
Purchasing a new build offers the promise of a fresh start and modern living. However, buyers must approach the process with caution and diligence, considering all the potential challenges and nuances involved. By thoroughly researching the developer, understanding the costs and timelines, and scrutinizing the property, buyers can navigate the new build landscape with confidence and make informed decisions that lead to a rewarding homeownership experience.
Ready to get started? Check out all the <a href="https://www.tylerhousehunters.com/tyler/new-construction-for-sale/">new construction in Tyler TX</a> or all <a href="https://www.tylerhousehunters.com/new-construction/">new construction in the areas we serve</a>. Contact us below for a specific list of homes and properties that fit your serach criteria. 2024-02-19T11:17:33-07:002024-02-19T11:30:12-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:23542Is a Multi-Generational Home in Tyler Right for Us?<img src="https://assets.site-static.com/userfiles/3349/image/multi_tyler.jpg" width="443" height="443" alt="Tyler Multi Generational" title="Tyler Multi Generational" style="float: right; margin: 11px;" />In an effort to combat affordability challenges, many buyers are looking for creative homeownership strategies. There are also many buyers in Tyler who are looking to better support aging parents or adult children. A traditional solution to the age old challenges families have faced is a multi-generational home. As you look for homes for sale in Tyler, have you considered whether a multi-generational home might be the perfect fit?
We can help you find <a href="https://www.tylerhousehunters.com" target="_blank">homes for sale in Tyler</a> no matter your criteria, so <a href="https://www.tylerhousehunters.com/contact/" target="_blank">contact us</a> any time to learn more. If a multi-generational home is an intriguing idea for you, keep reading to learn more about some of the benefits and what to add to your list as you are house hunting.
Benefits of Multi-Generational Home
There are some distinct advantage of a multi-generational home that you won't find in any other living arrangement.
Family Bonds and Support
Multi-generational homes foster a sense of family unity and support. Having multiple generations living together allows for shared responsibilities, mutual care, and the opportunity to build strong intergenerational bonds. Grandparents, parents, and children can provide emotional and practical support to each other, creating a tight-knit family community.
In addition, multi-generational homes provide a conducive environment for passing down cultural traditions and family values. Grandparents can share stories, recipes, and traditions with younger generations, preserving the family's cultural heritage and creating lasting memories.
Housing Costs
Sharing living expenses among multiple generations can lead to significant financial benefits. Whether it's splitting mortgage payments, utility bills, or grocery costs, multi-generational living can ease the financial burden on individual family members. This financial efficiency is particularly appealing in a market where some hopefully buyers are unsure about the affordability of homeownership.
In many cases, older generations can leverage equity in a home they have owned for years, then handing over the responsibility for mortgage payments to the younger generation. This often creates a mutually beneficial scenario in which the older generation, potentially living on a fixed income, can make a single investment that is out of reach for the younger generation.
Make sure to communicate clearly, maybe even in writing, to be sure the financial division of responsibility is clear to all members of the family.
Caregiving and Childcare
Multi-generational homes offer built-in support systems for child and elderly care. Grandparents can contribute their wisdom and experience in childcare, while parents can provide assistance to aging family members. This arrangement helps distribute caregiving responsibilities, ensuring that everyone's needs are met within the family unit.
What to Look For in Your Multi-Generational Home
The features that make your wish list will of course differ based on each buyer's unique family needs, but there are a few features that are generally helpful for families who want to live together with multiple generations. Consider these features and whether they might need to be a top priority in your unique scenario.
Flexible Floor Plan
Being able to shift and adapt over the years as the needs of the family evolve is essential for long term success in a multi-generational home. Look for homes that have flexible layouts and even potential for future expansion. Whether it's converting a space into an additional bedroom or adding an accessory dwelling unit, having flexibility for future changes can accommodate the evolving dynamics of a multi-generational household.
Separate Living Areas
Sharing a home doesn't have to mean always being together. Many families find that having their own separate living spaces make this a strategy that has long term viability. This could include homes with guesthouses, in-law suites, or detached living quarters. Having distinct living spaces allows for privacy while still enjoying the benefits of shared living.
Accessibility for Aging in Place
If you are accommodating elderly family members, consider homes with accessibility features. Features like ground-floor bedrooms, grab bars in bathrooms, and ramps or stair lifts can enhance the safety and ease of mobility for older family members.
Even if the older generation does not yet need any of these considerations, in order to support goals of aging in place it makes sense to choose a home with these future needs in mind.
Outdoor Spaces
Many buyers determine that outdoor spaces are crucial for multi-generational homes. Look for properties with ample outdoor areas where family members can gather, relax, and enjoy activities together. Consider features like patios, gardens, or spacious yards that make sense for family gatherings, entertaining, and recreation.
Embracing the benefits of shared responsibilities, financial efficiency, and strong family bonds, multi-generational homes in Tyler offer a unique living experience. Whatever the type of home you are searching for, we are here to help you find <a href="https://www.tylerhousehunters.com" target="_blank">Tyler houses for sale</a> that meet your needs. <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to begin your search. 2024-02-13T06:45:00-07:002024-02-19T14:00:25-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:23408Have You Considered House Hacking in Tyler? Here's Why You Should<img src="https://assets.site-static.com/userfiles/3349/image/House_Hacking_in_Tyler.jpg" width="450" height="350" alt="House Hacking" title="House Hacking" style="float: right; margin: 11px;" />House hacking might be the creative investment strategy you are looking for that makes owning a home and an investment property possible, and earlier than you may have thought. If you are looking for <a href="https://www.tylerhousehunters.com" target="_blank">homes for sale in Tyler</a>, consider how buying a duplex might be the perfect solution.
<a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us </a>any time to begin the search for your home in Tyler, and keep reading to learn more about why house hacking might be right for you.
Understanding the House Hacking Strategy
House hacking is a dynamic real estate investment strategy that involves purchasing a property with multiple units, residing in one of those units, and renting out the others. This approach enables investors to offset their living expenses through rental income, making homeownership more financially feasible.
In Tyler, where the real estate market is diverse, house hacking can open doors to both a comfortable living space and a source of income. It may be the perfect way to make both homeownership and owning an income property a realistic goal for you, and sooner than you thought.
Benefits of House Hacking
There are many benefits of house hacking. Most of them are financial, but in more ways than one. House hacking allows you to generate rental income from the additional unit(s) in your property. In Tyler's diverse real estate market, this income can significantly offset your living expenses, potentially leading to positive cash flow but almost certainly making a major difference in your cost of living.
Living in one unit while renting out others enables you to enjoy homeownership at a reduced cost. The rental income contributes to covering mortgage payments, property taxes, and other expenses, making it a financially sustainable way to own a home in Tyler. This also means that obtaining financing for a duplex may be easier, as lenders consider them to be a less risky endeavor thanks to the rental revenue.
House hacking serves as a stepping stone for wealth building through real estate. As property values appreciate over time, the equity in your home increases, offering a potential source of wealth and financial security for the future. Whether you sell the property, move out of one of the units to increase the rental profit, or leverage the equity toward another investment, house hacking provides many ways to generate wealth.
Another benefit of house hacking is the easier property management. Many people find that living on site limits the tenant disputes and leads to a better experience as a landlord. You'll be residing in the same neighborhoods as your tenants, fostering a sense of community and connection. Engaging with local events and activities can enhance your overall living experience and lead to a positive tenant relationship.
Finding Duplexes for Sale in Tyler
There are opportunities for house hacking all throughout Tyler, from duplexes to other multi family homes to other unique properties. We can help you narrow your search to find that property that is just right for your budget, your maintenance preference, and any other factors.
To learn more about <a href="https://www.tylerhousehunters.com" target="_blank">buying a duplex in Tyler</a>, <a href="https://www.tylerhousehunters.com/contact/" target="_blank">contact us</a> any time. 2024-02-09T14:37:00-07:002024-02-12T22:54:22-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:23201Is Tyler a Good Place to Buy a Rental Property?<img src="https://assets.site-static.com/userfiles/3349/image/tyler_invest.jpg" width="450" height="350" alt="Rental property" title="Rental property" style="float: right; margin: 11px;" />One of the keys to a successful investment property is choosing the right location. If you are planning to invest in a rental property to create an additional stream of income, it is essential to choose a location with a strong rental demand. Tyler is a great place to buy an income property for many reasons, and we can help.
<a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.tylerhousehunters.com" target="_blank">homes for sale in Tyler</a>, and keep reading to learn more about why this is an ideal market for investment properties.
Local Economy
Tyler benefits from a robust and diverse economy that contributes to its overall economic stability. The city has seen consistent job growth, supported by sectors such as healthcare, education, manufacturing, and agriculture. A strong job market is a key indicator of a healthy rental property environment, as it attracts a steady influx of residents in need of housing.
Healthcare and Education
Home to renowned healthcare facilities, including the University of Texas Health Science Center at Tyler and CHRISTUS Trinity Mother Frances Health System, the city serves as a healthcare hub for East Texas. Additionally, Tyler is home to several educational institutions, further contributing to the demand for rental properties. The presence of healthcare and educational facilities ensures a continuous flow of professionals, students, and faculty seeking housing, creating a stable tenant pool.
Cost of Living
While even communities with a high cost of living can be a great place to invest, it is often smarter to buy a rental property in a place with a low cost of living. This is true for a few reasons. The upfront investment will likely be lower, and your tenant pool is also more likely to have stable income that can comfortable cover the cost of rent. An affordable cost of living also tends to meet a steady influx of new residents in search of a home.
The affordability of living in Tyler is a significant draw for residents and potential tenants. A lower cost of living compared to major metropolitan areas in Texas makes Tyler an appealing choice for those seeking a comfortable lifestyle without the financial strain. For investors, this affordability factor can translate into a steady stream of tenants who prioritize cost-effective rental options.
Thriving Real Estate Market
In addition to considering the ability to rent out the property, you want to take a look at the real estate market to ensure that your asset is likely to appreciate. Even if you don't plan to sell again any time soon, building equity is always going to work in your favor.
Tyler's real estate market has demonstrated stability and growth over the years, making it an attractive destination for investors seeking a secure and reliable investment. While the market may experience fluctuations, Tyler's resilience and economic diversity contribute to a real estate environment that is conducive to long-term success in rental property ownership.
The market in Tyler is a good fit for a wide range of budgets and strategies. The local market offers a range of housing options, from single-family homes and apartments to townhouses and condominiums. This diversity allows investors to choose properties that align with their investment goals and target tenant demographics. Whether you are catering to families, students, or professionals, Tyler's real estate market provides flexibility for you to diversify your rental property portfolio.
Short-Term Rental Appeal
If you are interested in a short term rental rather than seeking long term tenants, there is a market for this in Tyler, too. The city hosts a variety of cultural events and attractions throughout the year, from the Texas Rose Festival to music festivals and art exhibitions. Tyler's cultural vibrancy contributes to its overall appeal, and translates into a demand for short term rentals from tourists or those interested in staying in Tyler for a short period or time as a remote worker, travel nurse, or during a house hunting stay.
Ready to <a href="https://www.tylerhousehunters.com" target="_blank">find your investment property in Tyler</a>? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time. 2024-02-02T15:57:00-07:002024-02-04T23:09:15-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:22944What are Buyers in Tyler Looking for in 2024?<img src="https://assets.site-static.com/userfiles/3349/image/home_reno.jpg" width="450" height="350" alt="Home reno for resale" title="Home reno for resale" style="float: right; margin: 11px;" />As you look ahead toward selling your home in 2024, you may be wondering if some renovations and home improvement projects might benefit your process. There are certain features that many buyers are looking for in 2024, so make sure to focus your plans based on the demand in the market as you plan to <a href="https://www.tylerhousehunters.com/sellers/" target="_blank">sell you home in Tyler</a> this year.
<a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us </a>any time to learn more about <a href="https://tylerhousehunters.hifello.com/widget/offer/877a0945-c962-427c-9032-e7ff471df0f0" target="_blank">what your home is currently worth </a>and how to set yourself up for success when selling your home. As you plan your home improvement projects, keep these top features buyers are looking for in 2024 in mind.
Spacious, Updated, and Functional Kitchen
An updated kitchen has always been a selling point, but ever since the pandemic we have seen even more value placed on the kitchen as more people have made a shift toward cooking at home. This trend is continuing into 2024, with a strong emphasis on choosing a home based on its kitchen.
The kitchen is often considered the heart of a home, and Tyler's homebuyers appreciate spacious and functional kitchens. Highlight features such as ample counter space, modern appliances, and well-organized storage, or renovate to include these types of features. Consider staging the kitchen to showcase its potential for both cooking and entertaining.
Outdoor Living Spaces
Another trend we have seen post-pandemic is a prioritizing of extra entertaining space at home. Tyler's favorable climate encourages outdoor living, and buyers often seek homes with inviting outdoor spaces. Highlight a well-designed patio, deck, or backyard where residents can enjoy the mild weather, or even consider adding one before selling your home. Consider adding outdoor furniture or accentuating features like a fireplace or built-in grill to enhance the appeal.
Energy Efficiency and Smart Home Technology
After living in Texas for just a few months, you will understand the need for efficient air conditioning in the summers. Texas can experience pretty warm temperatures, making energy efficiency a priority for many buyers. Emphasize energy-efficient features such as double-pane windows, updated insulation, and modern HVAC systems, making sure all are in perfect shape. This not only attracts environmentally conscious buyers but also helps in reducing utility costs.
Smart home technology goes hand in hand with energy efficiency. There are many smart home features you can implement to make the home more efficient while also being more comfortable, safe, and convenient. Consider adding smart locks, thermostats, appliances, and other home systems to attract your ideal buyer.
Updated Bathrooms
A fresh bathroom is going to make a great impression. On the other hand, an outdated bathroom or one that has some major wear and tear can be an eyesore that leads your potential buyers to walk away or want to negotiate a lower price because they plan to remodel.
Buyers in Tyler appreciate updated and well-designed bathrooms. Features such as modern fixtures, spacious vanities, and tiled showers can enhance the appeal of a home. Considerations like natural light, ample storage, and stylish finishes contribute to the overall attractiveness of the bathroom spaces. Even a simple bathroom renovation can make a major difference in the appeal of your home.
High Quality Flooring
The flooring in your home can quickly show its age, and can be a deterrent from your ideal buyer if it is not in great shape or is outdated. Consider budgeting your resources to update the flooring throughout the house or at least in the living spaces or rooms that need it most.
High-quality flooring is a feature that resonates with many buyers. Hardwood floors, tile, or updated carpeting can contribute to a clean and well-maintained appearance. Flooring that is in good condition throughout the home creates a positive impression and can be a significant selling point.
As you prepare your home for sale, be strategic. By presenting a home that aligns with the preferences and lifestyle of potential buyers in Tyler, you increase the likelihood of a successful and satisfying real estate transaction. Ready to <a href="https://www.tylerhousehunters.com/sellers/" target="_blank">prepare your home to sell in Tyler</a>? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time.2024-01-24T18:18:55-07:002024-01-24T18:32:26-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:22863Here's Why Mortgage Pre-Approval is a Game Changer in the Home Buying Process in 2024<img src="https://assets.site-static.com/userfiles/3349/image/pre-approval.jpg" width="450" height="350" alt="Pre-approval" title="Pre-approval" style="float: right; margin: 11px;" />There will always be some factors that are outside your control when you buy a home, and that makes controlling the things you can even more significant. One thing that you can do to set yourself up for success as you look for homes for sale in Tyler is securing mortgage pre-approval.
If you are looking for <a href="https://www.tylerhousehunters.com" target="_blank">homes for sale in Tyler</a>, we can help. <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time, and keep reading to learn more about why mortgage pre-approval is a game changer.
Work with Real Numbers
One of the primary benefits of pre-approval is gaining a clear understanding of your budget. Mortgage pre-approval involves a thorough assessment of your financial situation by a lender. The pre-approval letter specifies the maximum loan amount you qualify for, and let you know what your monthly mortgage payment will be at different purchase prices, helping you set a realistic budget for your home search in Tyler. Knowing your budget upfront allows you to focus on properties within your financial comfort zone.
Proactivity Promotes Confidence and Streamlines the Process
Going through the pre-approval process allows you to proactively address any potential credit issues. If there are inaccuracies on your credit report or areas that need improvement, you can work on resolving them before making an offer on a home. This proactive approach enhances your creditworthiness and improves your chances of securing favorable loan terms.
Buying a home is a significant life-changing decision, and pre-approval provides the confidence needed to make informed choices. Knowing that you have financial backing and a clear understanding of your budget empowers you to navigate the homebuying process with confidence and certainty.
Increase Your Negotiating Power
With a pre-approval in hand, you signal to sellers that you are a serious and qualified buyer. Sellers often prioritize offers from pre-approved buyers because they present a lower risk of financing falling through. This increased negotiating power can be especially advantageous in a competitive real estate market like Tyler, where desirable properties may receive multiple offers.
In this competitive market, many sellers will overlook an offer from a buyer without pre-approval. Being pre-approved is the standard, and you don't want to miss an opportunity on a property you love because you skipped this step of preparation.
A More Efficient Home Search and Closing Processes
Pre-approval streamlines your home search by providing clear parameters for property selection. You can work with your real estate agent to target homes within your approved loan amount, narrowing down options and making the process more efficient. This focused approach saves time and energy as you explore homes in Tyler that match your financial criteria.
The pre-approval process involves a comprehensive review of your financial documents, credit history, and employment status. This upfront work accelerates the overall mortgage approval process when you find the right property. A pre-approved buyer can often close on a home more quickly, providing a competitive edge in a market where timing can be critical.
Avoiding Disappointment
Without pre-approval, you may fall in love with a home in Tyler only to find out later that it's out of your financial reach. This can lead to disappointment and wasted time. Pre-approval prevents such scenarios by giving you a realistic understanding of your budget from the outset. You can confidently focus on properties that align with your financial capacity.
Ready to <a href="https://www.tylerhousehunters.com" target="_blank">find your home in Tyler</a>? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time. 2024-01-20T14:25:00-07:002024-01-21T21:39:14-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:22712Why Does Pricing Your Home Right Matter?<img src="https://assets.site-static.com/userfiles/3349/image/Priced_to_Sell.jpg" width="450" height="350" alt="Priced your home" title="Pricing your home" style="float: right; margin: 11px;" />When you prepare to list your home for sale in Tyler, one of the most important factors is the listing price. Why does listing price matter so much? After all, can't your buyers offer a different price if they disagree? The price your home is listed for is actually crucial, and this post will help you understand why.
If you want to find out <a href="https://tylerhousehunters.hifello.com/widget/offer/877a0945-c962-427c-9032-e7ff471df0f0" target="_blank">how much your home is worth</a> or learn more about <a href="https://www.tylerhousehunters.com/sellers/" target="_blank">selling your home in Tyler</a>, <a href="https://www.tylerhousehunters.com/contact/" target="_blank">contact us</a> any time. Want to understand the importance of accurate pricing when you sell your home? Keep reading.
Attracting the Right Buyers
In a competitive real estate market like Tyler, pricing your home accurately is crucial to attract potential buyers. Homes that are priced competitively within the local market are more likely to capture the attention of serious buyers looking for value.
Prospective buyers often use online search filters to narrow down their options based on price range. If your home is priced appropriately, it will appear in the search results of buyers who are specifically looking within your price bracket, increasing its visibility.
If you list your home for more than it is worth, your ideal buyer may not even come across it because it is not showing up in their searches. If you price it too low, you will likely leave money on the table and not be attracting your ideal buyer, rather than creating the demand and potential bidding war that works in your favor.
Inefficient Sale and Too Much Time on the Market
Overpricing your home can lead to an extended time on the market. Homes that linger on the market without selling may be perceived as undesirable or overvalued, deterring potential buyers. Overpriced homes may also receive fewer showings and offers, as buyers may be hesitant to invest time and effort in a property they perceive as overvalued. Proper pricing encourages increased buyer interest and engagement with your listing, and a property that is priced right is more likely to sell within a reasonable timeframe.
Avoiding Problems During Negotiations and Escrow
Proper pricing sets the foundation for smoother negotiations. Buyers are more likely to engage in negotiations when they believe the initial asking price reflects the property's true value, showing your trustworthiness and honesty. Transparent and realistic pricing builds trust with potential buyers. Buyers appreciate sellers who are upfront about the property's value, and this trust can contribute to smoother negotiations and a more positive overall transaction experience. This can lead to a more harmonious transaction and increased satisfaction for both parties.
The escrow process also tends to be smoother when the listing price is accurate. A realistic listing price sets accurate expectations for potential buyers. It ensures that buyers have a clear understanding of the property's value in relation to comparable homes in the area, increasing the likelihood of successful negotiations.
One of the most common and significant problems presented by overpricing your home is issues with the appraisal. Unless your buyer is paying all cash, the lender will need to see an appraisal report that reflects the purchase price. Appraisers assess the market value of a property, and if your listing price is significantly higher than the appraised value, it can create challenges during the financing process that even result in completely losing the sale.
Optimizing Proceeds through Pricing
Pricing your home is a strategic process that involves more than just a guesstimate of the property's value. The vast majority of sellers aim to maximize their net proceeds from the sale. Pricing your home appropriately increases the likelihood of attracting competitive offers, ultimately optimizing the return on your investment. This is particularly important for sellers looking to move on to their next property or achieve specific financial goals.
The real estate market is influenced by various external factors, including interest rates and market trends. Pricing your home strategically within the current market conditions allows you to leverage favorable dynamics and attract buyers who are actively seeking opportunities.
We understand the nuances and details of pricing your home accurately, and we are ready to help. To learn more about selling your home in Tyler, <a href="https://www.tylerhousehunters.com/contact/" target="_blank">contact us</a> any time.2024-01-12T07:19:00-07:002024-01-13T22:42:23-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:22576Why People Love Living in Tyler<img src="https://assets.site-static.com/userfiles/3349/image/why_tyler.jpg" width="450" height="350" alt="Why Tyler" title="Why Tyler" style="float: right; margin: 11px;" />Located in the heart of East Texas, Tyler stands as a city that effortlessly combines Southern charm, natural beauty, and a welcoming community spirit. People from all walks of life enjoy calling Tyler home. From a thriving economy to a rich cultural scene and a warm community vibe, there are numerous reasons why people not only like living in Tyler but often consider it an ideal destination for a fresh start or a forever home.
If you want to learn more about <a href="https://www.tylerhousehunters.com" target="_blank">homes for sale in Tyler</a>, we are here to help.<a href="https://www.tylerhousehunters.com/contact/" target="_blank"> Contact us</a> any time to get started.
Wondering why people love living in Tyler? This is the post for you.
Local Economy
One of the primary draws to Tyler is its robust economy. The city has experienced steady growth in recent years, leading to a diverse range of job opportunities across various industries. The healthcare sector, in particular, plays a significant role, with Tyler being home to renowned medical facilities like UT Health East Texas and Christus Trinity Mother Frances Health System. The city's economy is also bolstered by manufacturing, education, and a burgeoning tech industry, providing residents with ample career options.
Natural Beauty and Outdoor Recreation
Tyler's scenic beauty is a major contributor to its appeal. Sometimes referred to as the "Rose Capital of America," the city features the Tyler Municipal Rose Garden, a 14-acre oasis where you will find over 38,000 rose bushes. Beyond the roses, the city offers a wealth of parks, lakes, and trails, providing ample opportunities for outdoor enthusiasts.
The Tyler State Park, known for its serene lake and lush pine forests, offers a perfect escape for hiking, fishing, and camping. The city's commitment to green spaces ensures that residents can easily connect with nature, promoting a healthy and active lifestyle. Tyler's relatively mild climate also means you can enjoy being outside all year long, taking advantage of the location any time.
Culture and Arts
It may not be a major urban location, but that doesn't mean Tyler is lacking in culture. Tyler's cultural scene is vibrant and diverse, providing residents with numerous opportunities to engage in arts and cultural activities.
The Caldwell Arts Academy and the Tyler Museum of Art contribute to the city's cultural vibrancy, offering exhibitions, performances, and educational programs. The downtown area, with its historic ambiance, features art galleries, boutiques, and dining establishments. Regular cultural events and festivals add to the lively atmosphere, and make it easy to enjoy art and culture while meeting other members of the community.
Southern Hospitality
In addition to the diversity and cool vibes, Tyler's culture boasts the classic Southern charm you would expect from a Texas town. Southern hospitality is deeply ingrained in Tyler's community spirit. Residents often emphasize the friendly and welcoming nature of the people, making it easy for newcomers to integrate into the community.
The city's commitment to fostering a sense of belonging is evident in various community events, volunteer opportunities, and neighborhood initiatives. Tyler's warm and inclusive atmosphere contributes to a strong sense of community, making it an inviting place to put down roots.
Cost of Living
One of the practical reasons that both individuals and families are drawn to Tyler is its reasonable cost of living. Housing costs are relatively affordable compared to larger metropolitan areas, allowing residents to enjoy a comfortable lifestyle without the financial strain often associated with big cities.
The availability of diverse housing options, including single-family homes and apartments, ensures that individuals and families can find a residence that suits their preferences and budget.
To learn more about <a href="https://www.tylerhousehunters.com" target="_blank">homes for sale in Tyler</a>, <a href="https://www.tylerhousehunters.com/contact/" target="_blank">contact us</a> any time.2024-01-05T16:03:00-07:002024-01-07T23:13:47-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:22439New Years Resolutions to Help You Reach Your Real Estate Goals in 2024<img src="https://assets.site-static.com/userfiles/3349/image/2024_goals.jpg" width="525" height="350" alt="2024 Goals" title="2024 Goals" style="float: right; margin: 11px;" />As 2024 waits just around the corner, are you wondering how you can set yourself up to achieve your goals next year? If you have real estate goals in 2024, consider adding one or two of these resolutions to your list to help you continue taking steps toward success.
Whether you are looking for a new <a href="https://www.tylerhousehunters.com" target="_blank">home for sale in Tyler</a>, getting ready to sell your home, or want to learn more about buying an investment property in 2024, we can help. <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to learn more.
Expand Your Investment Portfolio
Is 2024 your year to broaden your real estate horizons by expanding your portfolio? In the new year, you can diversify your real estate investment portfolio by exploring new property types or investing in different geographic locations to spread risk and enhance potential returns.
Whether it's your first time investing in real estate or your 10th, consider how a different type of property, a new location, or a different format such as a short term vacation rental or multi-family property might be the right addition to your investment portfolio.
Make Meaningful Connections
In all real estate endeavors, you need the right team of experts with you. At the top of the list is a real estate agent you can trust. When you work with us, you will quickly see that we can accelerate the process of making the other industry connections you need, pointing you in the direction of lenders, potential tenants, inspectors, appraisers, staging teams, and more.
Even if you are not yet ready to make any moves on your 2024 real estate transactions, <a href="https://www.tylerhousehunters.com/contact/" target="_blank">reach out to us</a> to let us know what your goals are and find out how we can help.
Boost Your Credit Score
If you plan to invest in a new property in 2024, there is still time to boost your credit score before applying for financing. With a goal to buy in the second half of the year, here are some things you can do now to increase your score by taking these steps:
Find out if there are any errors on your credit report that are bringing the score down, and dispute them.
Set up automatic payments to eliminate the possibility of a ding to your credit score because of a late payment.
Improve your utilization rate, the percentage of your credit limit that is being used. For example, if your credit card has a $10,000 limit and you carry a $5,000 balance, you have a 50% utilization rate on that card. Aim to bring the credit utilization rate on all your accounts down to 25% or below by paying down the balance, increasing the credit limit, or both.
Avoid taking on any new debt before applying for a mortgage, or after getting pre-approved. Even a reasonable debt you can comfortably manage will be reflected on your score.
Improve Resale Value
If you plan to sell your home or refinancing in the New Year, look for ways to boost property value. From major projects like a kitchen or bathroom remodel to something more simple like a curb appeal refresh, look for ways to improve resale value.
Not sure what your home is worth now or what could make the value increase more quickly that normal appreciation? We can give you a <a href="https://tylerhousehunters.hifello.com/widget/offer/877a0945-c962-427c-9032-e7ff471df0f0" target="_blank">free market analysis</a> and our professional opinion to help you develop a strategy.
Explore House Hacking
Have you considered house hacking to reach your goals in 2024? House hacking is a creative solution that bridges the gap between owning your own home and investing in an income property. You can buy a multi-family home like a duplex, live in one unit, and rent out the other unit.
You may be surprised to find that securing financing for this type of property can be even easier than buying a primary residence alone, as lenders understand there is less risk involved because you will have a tenant covering a significant portion of your monthly mortgage via a rent payment. If you're looking for ways to get into real estate investing, this can be an ideal first step.
Ready to learn more about <a href="https://www.tylerhousehunters.com" target="_blank">buying or selling in Tyler in 2024</a>? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time.2023-12-30T17:51:09-07:002023-12-30T18:33:15-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:22320Integrating Smart Home Technology into Your House in Tyler<img src="https://assets.site-static.com/userfiles/3349/image/smart_home.jpg" width="450" height="350" alt="Smart Home" title="Smart Home" style="float: right; margin: 11px;" />As technology continues to advance, homeowners in Tyler are embracing the convenience, efficiency, and security offered by smart home technology. You might be surprised to learn about smart home technology features that can boost your home's resale appeal while making it more functional for you in the meantime.
To learn more about <a href="https://www.tylerhousehunters.com" target="_blank">homes for sale in Tyler</a>, <a href="https://www.tylerhousehunters.com/contact/" target="_blank">contact us</a> any time. To learn more about the benefits of integrating smart home features into your Tyler residence, enhancing your lifestyle and contributing to the overall appeal and value of your home, keep reading.
Climate Control with Smart Thermostats
Tyler's warm and humid climate makes efficient climate control essential. Smart thermostats allow you to remotely manage your home's temperature, ensuring comfort and energy savings. The ability to set schedules, adjust settings from your smartphone, and even integrate with voice-activated assistants makes smart thermostats a valuable addition to any Tyler home.
These smart systems also learn what your patterns are and create automated climate control to optimize both energy efficiency and your comfort. If you're looking for a way to save energy while making your home more comfortable, this is an obvious choice. The installation is quick and easy, and the devices are relatively affordable.
Enhanced Security Systems
Investing in smart security cameras and doorbells provides an extra layer of protection for your home. These devices offer real-time monitoring, motion detection, and the ability to view footage remotely. Smart doorbells with video capabilities allow you to see and communicate with visitors from your smartphone, enhancing both security and convenience.
Whether you are home or across the world, you can access your smart security system to protect your home, your belongings, and your peace of mind.
Keyless Entry Systems
Keyless entry systems bring a touch of modernity to your Tyler home. With these systems, you can enter your home using a unique code or smartphone app, eliminating the need for physical keys. This convenience is especially beneficial for families, ensuring easy access for authorized individuals and streamlining the entry process for guests.
If you need to let a housekeeper, repair person, dog sitter, or anyone else into the house without being there, a keyless entry system is extremely convenient. No need to risk the security of your home by hiding a key under the mat or make sure to give the person a key before hand. Instead, just let them in when they arrive and your smartphone lets you know, or give them a unique key code. You can also rest assured that anyone who had the code before won't be able to use it to enter the home unless you want them to.
Water Efficient Smart Irrigation
Maintaining a lush lawn in Tyler can be achieved with smart irrigation systems. These systems use weather data to optimize watering schedules, ensuring your lawn receives the right amount of water without wastage. Smart irrigation controllers can be programmed remotely, allowing you to adapt to changing weather conditions and conserve water.
If you want to balance your desire for a lush landscape design with water conservation, smart irrigation is a no-brainer. This can also be appealing to future buyers as it saves money while helping you keep your property looking its best.
Smart Window Treatments
Have you ever considered smart window treatments? You can control natural light and enhance energy efficiency with smart window coverings that are controlled by your phone or voice commands. Automated blinds or shades can be programmed to open and close at specific times, adapting to the changing sunlight throughout the day. Replace your morning alarm with the timed opening of your window treatments, and automate your evening privacy by making sure they close when the sun sets. This feature not only adds convenience but also contributes to energy savings.
Automated Pet Care
For pet owners, smart pet devices can simplify care routines. Smart pet feeders, doors, and cameras allow you to monitor and interact with your pets remotely. This technology ensures that your furry friends are well taken care of, even when you're away from home.
As technology continues to advance, incorporating these features into your home not only aligns with modern living trends but also adds value to your property. Ready to learn more about <a href="https://www.tylerhousehunters.com" target="_blank">owning a home in Tyler</a>? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time. 2023-12-22T23:32:00-07:002023-12-22T23:45:15-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:22168Maximizing Screen Appeal to Sell Your Home in Tyler<img src="https://assets.site-static.com/userfiles/3349/image/Screen_Appeal.jpg" width="450" height="350" alt="Screen Appeal" title="Screen Appeal" style="float: right; margin: 11px;" />When you decide to <a href="https://www.tylerhousehunters.com/sellers/" target="_blank">sell a home in Tyler</a>, it is worth your time and effort to make the most of the property's first impression. In a digital world where nearly all of your potential buyers will view your home online before they decide to see it in person, screen appeal is the new curb appeal.
Maximizing screen appeal is not just about aesthetics; it's about standing out from comparable properties as your ideal buyer is scrolling through online listings. With a proven track record, we are ready to help you <a href="https://www.tylerhousehunters.com/sellers/" target="_blank">sell your home in Tyler</a>, so contact us any time to get started.
To begin preparing for a successful sale, check out these strategies to enhance your home's screen appeal in Tyler and explore why it's crucial for creating a lasting impression.
What is screen appeal?
Screen appeal is the way your home comes across through the screen; in other words, its the digital version of curb appeal or the first impression a buyer gets of the home. In the current real estate landscape in Tyler, a potential buyer's initial encounter with your home nearly always happens online. Homebuyers typically browse listings on real estate websites, and your property's screen appeal is the digital first impression they form before deciding to visit in person.
Why does screen appeal matter when selling a home in Tyler?
Screen appeal is synonymous with a first impression. While it's possible that some buyers may come to a showing because their agents suggested it, or stop by an open house unexpectedly, nearly every buyer will have viewed your home's online listing before they ever see it in person.
This means that they will decide whether to view the property in person based on how it looks online, and beyond that will form an opinion about your home before seeing it depending on the impression your online listing gives.
Additionally, some buyers are not local and either will not see the property in person at all or are only going to travel to Tyler to see your home if the screen appeal is promising enough. In order to attract great buyers who are house hunting remotely, your online listing has to be excellent.
A visually appealing online presentation encourages potential buyers to explore your home, increasing the likelihood of inquiries and showings. Don't miss this crucial opportunity to attract your ideal buyer by putting your home's best foot forward online.
How can a homeowner boost their home's screen appeal?
When you realize that boosting your home's screen appeal is one of the best ways to attract your ideal buyer, the obvious next question is, "How?" And we can help. Each home may need different attention or features, so we can help tailor a marketing strategy for your unique scenario. <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://tylerhousehunters.hifello.com/widget/offer/877a0945-c962-427c-9032-e7ff471df0f0" target="_blank">the current value of your home in Tyler</a> or how we might market it for you.
In general, there are some screen appeal boosting tips that will apply to most homes, so keep these things in mind:
Think about the lighting in your home. Good lighting is key to great photography and videography, which are the essential components of screen appeal. Consider whether there are any places in the home that you can allow in more natural light, including changing window coverings or trimming landscaping outside a window.
While much of the screen appeal conversation revolves around digital content like photo, video, and virtual tours, the words on the listing are also important. Make sure you provide us with accurate information and as much detail as possible about the home so we can craft an accurate and compelling description.
If the home you are selling is vacant, you may want to consider virtual staging. Even if you do not plan to stage the property in person, virtual staging can help your buyer envision themselves in the home and picture how it might function in a typical layout.
Work with agents who understand effective marketing in the current market, like us. Ready to learn more about<a href="https://www.tylerhousehunters.com/sellers/" target="_blank"> selling your home in Tyler</a>? Contact us any time.
2023-12-14T15:31:00-07:002023-12-15T22:58:08-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:21877Benefits of House Hunting During the Winter<img src="https://assets.site-static.com/userfiles/3349/image/Winter_House_Hunting-2.jpg" width="450" height="350" alt="Winter House Hunting" title="Winter House Hunting" style="float: right; margin: 11px;" />While most people are looking at homes for sale in Tyler during the spring and summer, there are some distinct advantages to winter house hunting, too. From potential cost savings to a more relaxed market, winter house hunting in Tyler can be a rewarding experience for prospective homebuyers, and we can help.
<a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to learn about the current market conditions and how we can help you find homes for sale in Tyler that are just what you need.
The Winter House Hunting Experience in Tyler
While the winter season might not be the most popular time for real estate transactions, there are some perks to buying a house in Tyler during the off-season. Here's what you can expect:
Mild Winter Climate
One of the appealing aspects of house hunting in Tyler during the winter is the relatively mild climate. While other parts of the country contend with freezing temperatures and snow, Tyler typically experiences more moderate weather, making it comfortable for exploring neighborhoods and touring properties without the harsh winter conditions.
Sure, you should bring a jacket, but you likely won't need to worry about icy walkways or snow bank getting in the way of your house hunting journey.
Less Competition
The winter months are considered the off-season for real estate, meaning there tends to be less competition among homebuyers. With fewer buyers in the market, individuals searching for a home in Tyler during the winter may find themselves in a favorable position. This reduced competition could lead to more negotiating power and a better chance of securing a property at a reasonable price.
There may also be less competition for other real estate professionals, like lenders, inspectors, and appraisers who may have less buys calendars. This means you can get more attention and likely have a more efficient escrow process.
Motivated Sellers
Sellers putting their homes on the market during the winter likely have compelling reasons for doing so. Some sellers might be motivated by job relocations, changes in personal circumstances, or a desire to close a deal quickly.
Because it is known to be the less busy season for real estate, you can expect that the majority of homes on the market are listed by sellers who are ready to negotiate and close a deal quickly. This motivation can translate into more flexible negotiations and potentially better deals for buyers.
Accurate Evaluation of the Property
Tyler's winter conditions allow homebuyers to evaluate a property accurately. The landscaping and outdoor elements, such as drainage and potential issues with the roof or gutters, can be more visible during the winter months. This transparency enables buyers to make informed decisions about a property's condition without the distraction of lush foliage or other seasonal factors.
Benefits of Winter House Hunting
So you know now what to expect from winter house hunting in Tyler: mild climate, less competition from other buyers, motivated sellers, and an accurate representation of the property. All of these conditions can contribute to a wonderful home buying experience.
Some of the other benefits of winter house hunting are:
Potential for Cost Savings
One of the most significant benefits of buying a house in Tyler during the winter is the potential for cost savings. With fewer buyers in the market, sellers may be more open to negotiations, potentially leading to lower purchase prices or added incentives. This advantage is particularly appealing for those looking to make a sound investment while optimizing their budget.
Faster Transactions
Are you hoping to move quickly through the home buying process this winter in Tyler? The reduced competition and motivated sellers during the winter often lead to faster transactions.
With fewer parties involved in the buying process, including real estate agents, lenders, and inspectors, the overall timeline for completing a home purchase may be expedited. This can be advantageous for individuals eager to settle into their new homes quickly.
Easier Scheduling of Showings
With fewer buyers competing for the same properties, scheduling home tours becomes more convenient during the winter. You may also find that you have more flexibility with holiday time off to view properties when you would otherwise be at work. Buyers can explore potential homes without the rush and pressure commonly associated with the spring and summer months. This relaxed environment allows for a more thorough and thoughtful evaluation of each property.
Lower Moving Costs
Winter is often considered a slower time for moving companies, and as a result, buyers may enjoy lower moving costs. Moving companies may offer more flexible scheduling and competitive rates during the off-season, providing additional financial benefits for those buying a house in Tyler during the winter.
From the comfort of exploring properties in a mild climate to the potential for cost savings and faster transactions, the winter off-season presents unique opportunities for those looking to make Tyler their new home. Ready to find houses for sale in Tyler? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time.2023-12-07T04:40:00-07:002023-12-09T11:55:59-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:21671How to Plan for Unexpected Costs with New Construction Homes in Tyler<a href="https://www.tylerhousehunters.com/tyler/new-construction-for-sale/" target="_blank"><img src="https://assets.site-static.com/userfiles/3349/image/New_Construction.jpg" width="450" height="350" alt="New Build Tyler" title="New Build Tyler" style="float: right; margin: 11px;" />Buying a new construction home in Tyler</a> is an awesome opportunity for many of our clients, who are looking forward to purchasing a brand new house with the many benefits that come along with a new build. When you are looking for <a href="https://www.tylerhousehunters.com/tyler/new-construction-for-sale/" target="_blank">new construction homes for sale in Tyler</a>, it is essential to understand the financial differences between buying a new build and an existing home.
<a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.tylerhousehunters.com" target="_blank">buying a home in Tyler</a>, and before we get started on the search for your new build, check out this list of costs you should plan for that may differ from your previous home-buying experience.
Upgrades and Customization
One of the primary benefits of buying a new construction home is the opportunity to upgrade and customize it. Rather than planning for a renovation as you would when buying an existing home, you have the opportunity to have the home built the way you want from the beginning.
The challenging part of this benefit is the opportunity to underestimate how much the price might go up during this process. Builders often provide base models with standard features, but if you want additional upgrades or customization, it can add significant costs. This includes premium flooring, countertops, appliances, and other personalized options that may not be part of the standard package.
The best way to navigate this is to prioritize your wish list, and consult with us about which features are going to not only increase your purchase price but also the value of your home. Some upgrades have a better ROI than others, and we can help you navigate that process.
Landscaping
When you buy an existing home, you may want to make some changes to the landscaping or update a fence, but you almost certainly won't be starting from scratch. However, buying a new construction home often means moving into a property with no landscaping or fencing. You will also likely have a deadline by which you need to install landscaping of some kind.
This process will vary from builder to builder, so ask all the relevant questions in order to factor this into your overall budget in the buying process.
Window Coverings
New construction homes typically come with bare windows, and purchasing blinds, curtains, or other window coverings can be an additional expense that buyers might not have initially accounted for.
Make note of the number of windows in your plans, and the dimensions of them. This way, you can get quotes from window covering professionals or shop around for curtains to know what your budget should include.
Appliances
While new homes usually include basic appliances, they may not come with high-end or upgraded models. Buyers looking for premium appliances may need to budget for these separately.
You may find that buying these appliances as an upgrade from the builder is a good price, but don't forget to shop around. In many cases, you will sacrifice some convenience but get a much better deal to buy appliances from a different retailer.
Utility Connections
In most cases, you will have some initial costs to set up your home. While some utility connections may be included, buyers may incur additional costs for hooking up services such as cable, internet, and satellite. Water, sewer, and garbage fees may also be applicable. Get these details from your builder before you sign the contract to make sure you can plan for everything.
To avoid surprises, it's crucial for buyers to thoroughly review the builder's contract, ask about potential additional costs, and work with a real estate agent who can provide guidance on budgeting for both expected and unexpected expenses associated with buying a new construction home. We have the experience you need in an agent to walk with you through the entire process.
Ready to get started on finding your <a href="https://www.tylerhousehunters.com/tyler/new-construction-for-sale/" target="_blank">new construction home for sale in Tyler</a>? <a href="https://www.tylerhousehunters.com/contact/" target="_blank">Contact us</a> any time to find out how we can help.2023-12-01T22:24:25-07:002023-12-01T22:42:48-07:00Nathan Rodrigueztag:tylerhousehunters.com,2012-09-20:21605How to Avoid Home Sale Heartbreak: Tips for Tyler, Texas Buyers
Hey there, <a href="https://www.tylerhousehunters.com/buyers/">Tyler Texas home buyers</a>! So, you're in a bit of a pickle – your home sale just hit a roadblock. It's seriously frustrating when you're all set to sell, but then things go south for one reason or another. Selling your place can be pretty stressful, and unfortunately, some folks end up back at square one when their sale falls through. But don't sweat it; we're here to break it down for y'all.<img src="https://assets.site-static.com/userfiles/3349/image/How_to_Avoid_Home_Sale_Heartbreak_How_to_Avoid_Sale_Fall_Through.jpg" width="444" height="296" alt="How to Avoid Home Sale Heartbreak How to Avoid Sale Fall Through" title="How to Avoid Home Sale Heartbreak How to Avoid Sale Fall Through" style="float: right; margin: 11px;" />
Failed Home Inspection
One common culprit for a sale falling through is the dreaded home inspection. Imagine this: your potential buyer discovers some major issues like a leaky roof, mold problems, or structural defects. Sometimes, they'll still want the house but with repairs, while other times, they'll bail altogether.
Contingencies
Then there are those pesky contingencies. These are conditions that buyers sometimes add to their offers. In some cases, it's no biggie for the seller, especially in today's hot market. But if the buyer can't sell their own home, they might back out, leaving you in a lurch.
Wait, No Financing?
Another thing to watch out for is buyers who haven't secured their financing yet. It's a risky move to accept an offer from someone who hasn't locked in their funds. If they can't get the cash they need, they'll have to pull out of the deal.
Low Appraisal
And let's not forget about the appraisal. If your home appraises for way less than the offer price, the buyer might freak out. They'll either walk away or scramble to cover the difference – that's called an appraisal shortfall.
But don't despair! There are ways to protect your sale from going off the rails:
Home Inspection: Before you even list your place, do your own inspection. That way, you'll know about any major repairs or maintenance issues upfront.
Contingencies: If the market allows, try to go for offers without too many contingencies. It simplifies things and reduces the chances of a sale falling through.
Financing: It's a smart move to accept offers from buyers who've got their pre-approval letters in hand. It's a sign they're serious and financially ready.
Appraisal: Like with the home inspection, you can get an appraisal done to set a realistic price. That way, you won't list your home too high or accept an offer that's way above the appraised value.
These are pretty much the most common ways a house sale can fall through but because you are dealing with many different parties, not just the buyer and seller, anything can happen. The key is being armed with a great agent who knows all the possible ways negotiations and transactions can go. Navigating through this and finding solutions will help keep the deal together. 2023-11-28T08:24:23-07:002023-11-28T08:35:03-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:21506A Guide to Home Renovations in Tyler Texas<img src="https://assets.site-static.com/userfiles/3349/image/A_Guide_to_Home_Renovations_in_Tyler_Texas.jpg" width="1280" height="720" alt="A Guide to Home Renovations in Tyler Texas" title="A Guide to Home Renovations in Tyler Texas" style="margin: 11px;" />
First Steps to a Home Renovation in Tyler, Texas
When it comes time to renovate your Tyler, Texas home, it can be an exciting time, as there will be a new and improved living space on the horizon. Launching the process can be a daunting task, which is why we came up with some good first steps. Continue to read to find a complete guide to renovating your home. And click here if you think you'd like to <a href="https://www.tylerhousehunters.com/blog/getting-your-home-ready-to-sell/">prep your home for sale.</a>
Determine Your Budget
Setting aside a large sum of money that should remain untouched is not an easy thing to do. When it comes to calculating a renovation budget in the beginning phase of your project, this step may help keep you focused by the time the renovation revs up. This can also help you determine the scope. A good example of this may look like this, will I only be renovating the bathroom tiles, or will I also be replacing the tub? It is important to draw up a list of what you care about the most, especially when it comes to being cost-effective or willing to sacrifice cost for long-lasting quality.
Create a Plan
It is always important to go into a project as big as a renovation with a plan, so you can evaluate risks while gathering all the necessary paperwork, and thinking of backup plans in case your major one falls through. A great example of this can look like, how and when will the construction materials be delivered and where will they be stored. Depending on <a href="https://www.tylerhousehunters.com/blog/smith-county-housing-market-update-august-2023/">where you live in Tyler, Texas</a>, this can be a bit tricky.
Understand Your Timeline
Home renovations can tend to require board approval, permits, and procurement of materials. Sometimes this can take weeks or months. Because you don't know exactly what you may find behind those prewar walls, getting educated and staying up to date on your space can make the experience less stressful.
Planning a Family Home Renovation
Renovations can be tough things to work and live around with your family. Disruptions and a lack of continuity, not to mention the overall mess, can be stressful and drive everyone in the shared home crazy! Continue to read to find some tips for keeping the family safe and sane.
Carve Out a Living Space
Depending on the overall size of your project, you may more than likely have to make adjustments to your lifestyle to create livable zones for your family, something that can be challenging in a smaller Tyler, Texas home. Reno-veterans have found it useful to invest in a mini fridge or a slow cooker. If it is possible, try dedicating a single bathroom to your family and another to anyone helping with the construction. You can also invest in temporary zipper walls to shield your family from the worksite to reduce the amount of dust filtering into your living quarters.
Keep the Family Safe
You should always follow protection guidelines to ensure that the materials (i.e. paint, waterproofing, etc...) are safe and appropriate for the space. It is crucial to take all safety protocols including masks and make sure to let the people (especially kids) know which areas in your home are off-limits.
Clue in the Kids
There may be a lot of questions and surely some confusion from the kids, especially young ones. It is important to explain things to them so they can understand what is happening and they can share the excitement with friends and family. Something that can help them feel relevant and engaged is by documenting the process which can be a way to make parents' life easier.
Stick to the Plan
It may be tempting to come up with new ideas, but it is best to stick to the plan. There are already so many factors that go into your project, from design to procurement to labor, it is important to continue with the flow after the flow is established. If you change your mind during the process, it can increase the timeline.
In conclusion, embarking on a home renovation project in Tyler, Texas can be both exhilarating and challenging. By following the initial steps of budgeting, planning, and understanding the timeline, homeowners can lay a strong foundation for a <a href="https://skhdremodel.com/choosing-what-to-remodel-in-your-home-in-2024/" target="_blank">successful renovation journey</a>. When it comes to family-oriented renovations, creating designated living spaces, prioritizing safety, and involving children in the process can help maintain harmony during this transformative period. Lastly, adhering to the established plan is key to ensuring the project progresses smoothly and stays on track. With these considerations in mind, Tyler homeowners can look forward to the ultimate reward of a revitalized and improved living space that meets their unique needs and preferences.2023-11-21T08:05:50-07:002023-11-21T08:19:04-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:20993What to Know about Multi-Generational Living in Tyler TexasMulti-generational living, in which more than just 2 generations share the same home, is not a new concept. This is the way people lived for centuries, but in recent generations, there has been a major shift toward living only with your nuclear family. While this works well for some families, a return to multi-generational living is picking up steam as more people realize how many benefits there are to this more traditional household structure.<img src="https://assets.site-static.com/userfiles/3349/image/What_to_Know_about_Multi-Generational_Living_in_Tyler_Texas.jpg" width="400" height="600" alt="What to Know about Multi-Generational Living in Tyler Texas" title="What to Know about Multi-Generational Living in Tyler Texas" style="float: right; margin: 11px;" />
Benefits of Multi-Generational Living
The advantages of multi-generational living are numerous. Any of these reasons might be enough in and of themselves, but most families find that they benefit in multiple ways. Some of these include:
Stronger family relationships: Living together fosters stronger familial bonds, allowing family members to spend more time together and participate in each other's daily lives. This can lead to increased emotional support and a sense of belonging, and better mental health overall for all generations.
Economic support: Multi-generational living can lead to cost-sharing, where family members can share the financial burden of living expenses such as mortgage payments, utilities, home maintenance, childcare, elder care, and groceries. This arrangement can provide economic stability and allow for better financial planning.
Trustworthy care: In a multi-generational home, both children and older adults may need care in different ways. Finding trusted caretakers, nannies, and other support can be challenging, but living with family often alleviates these concerns by creating a mutually beneficial system of support. Grandparents or other older family members can provide childcare assistance, which can be beneficial for working parents. In addition to reducing the need for external childcare services, this creates a strong bond between children and their extended family members. Living in a multi-generational household can also provide built-in care and support for older family members, ensuring that their needs are met and reducing the need for external assistance or senior care facilities.
Culture and traditions: Different generations living under the same roof can facilitate the exchange of diverse perspectives, values, and traditions, promoting cultural understanding and enriching the family's collective identity. Older generations can pass down family traditions, values, and practical knowledge to younger family members, ensuring that cultural heritage and practical skills are preserved and carried forward to future generations.
Shared burdens: Multi-generational living allows for the sharing of household responsibilities, such as cooking, cleaning, and maintenance tasks. This can alleviate the burden on individual family members and create a more harmonious living environment. This household structure can prevent social isolation, especially for older family members who might otherwise live alone. Regular interaction with younger family members can promote a more active and engaged lifestyle.
Multi-Generational Living in Response to Increasing Interest Rates
Many homebuyers today are concerned about rising interest rates and are looking for ways to combat the affordability challenges they generate. Multi-generational households can help with this in multiple ways:
The <a href="https://www.calgaryhousefinder.ca/blog/how-homeownership-builds-financial-stability-2023/" target="_blank">cost of homeownership</a>, including down payment, monthly mortgage, and ongoing maintenance, can be split between the two adult generations.
One generation can pay for the initial investment, while the other pays for the ongoing costs. For example, an older generation might<a href="https://www.tylerhousehunters.com/blog/inflation-and-mortgage-rates/"> leverage equity in their current home</a> to purchase a new home, offsetting the increased interest rates by lowering the mortgaged amount while also eliminating their need to continue making housing payments. The younger generation can then cover the monthly payments, which will be lower than they would have been. This way, both generations are helping each other.
Many expenses become more affordable when they are split among the household, including HOA fees, lawn care or housekeeping costs, and the replacement of household items like appliances.
Tips for Multi-Generational Living
In order to successfully transition to a multi-generational living situation that works for everyone, keep these tips in mind.
Clear Communication
Ensure that all family members involved are open and willing to communicate about their expectations, needs, and boundaries. Establishing clear communication channels from the outset can help prevent misunderstandings and conflicts later on. You may even find it helpful to put your expectations into writing for further clarity.
Define Individual Spaces
Look for homes that offer the potential for distinct living areas, whether it's separate floors, wings, or living spaces within the same property. Privacy is essential for each generation to have their own space and feel comfortable. Carefully consider how much space you would like to share, and how much privacy you each need.
Plan for the Future
Keep in mind the accessibility requirements for older family members, if applicable. Features like ramps, handrails, and ground-floor bedrooms can make a home more accommodating and safe for seniors. Even if you don't need these features yet, it may be best to plan ahead for future needs.
Anticipate and plan for potential changes in the family structure over time. Consider how the living space can accommodate life changes such as new additions to the family or the need for additional care for older family members.
Seek homes with flexible layouts that can adapt to the changing needs of the family over time. Spaces that can be repurposed for different uses or converted into additional living areas can be valuable.
Legal and Financial Considerations
Understand the legal aspects of multi-generational living, such as zoning regulations and local laws. Some areas might have specific regulations about the number of unrelated individuals living in a single dwelling.
Assess the financial implications of multi-generational living, including the costs associated with maintaining a larger property, utility bills, and shared expenses. Make sure all parties involved are clear on financial responsibilities and contributions to avoid conflict in the future.
If you are considering a shift to a new home in Tyler Texas that will work for your multi-generational living plans, you need a team of real estate experts who can help you find what you are looking for. Give us a call today to learn more about <a href="https://www.tylerhousehunters.com/tyler/">multi-generational homes and houses in Tyler</a>, give us a call. 2023-11-01T09:18:13-07:002023-11-01T09:34:03-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:20878How to Write Up a Solid Offer on Your Tyler Texas House<img src="https://assets.site-static.com/userfiles/3349/image/Who-Pays-for-what_-3_2.jpg" width="800" height="800" alt="How to Write Up a Solid Offer on Your Tyler Texas House" title="How to Write Up a Solid Offer on Your Tyler Texas House" style="margin: 11px;" />
If you've never written up a real estate offer before the process might seem overwhelming and confusing but it doesn't have to be. One of the biggest things I tell any<a href="https://www.tylerhousehunters.com/buyers/"> potential homebuyer</a> is to make sure you have your own buyer's agent before jumping into the real estate market. Buyer's agent works solely for the homebuyer helping them throughout the process, offering tips, suggestions, and advice not just on placing the offer, but on home inspections, financing, appraisals and anything else that might come along during the process.
If you're confused as to how to place an offer and even what to offer, there are different places to start.
First up you need to understand exactly what the market value is of the home. While this might be impossible to know exactly, <a href="https://www.tylerhousehunters.com/about/">your buyer's agent</a> will be able to tell you what are average and median home prices for a particular neighborhood and if the property seems overpriced or underpriced. Most homes are not underpriced to begin with unless they are either a short sale or foreclosure. But they can be overpriced, especially if they are new on the market. It helps to know how half the market is, what your competition is and if they are priced accurately. From there, you can make a more informed decision on where to start your offer.
Your real estate agent will figure out several different factors that can play into what you might offer on a property. How long the home has been on the market? Has the property already decreased in price? Is the home vacant? How many similar homes are on the market? And if possible, how much did the seller originally pay for the home?
A lot of these items are easy to figure out with the use of a buyer's agent but some are not; Many require communication between the buyer's agent and the listing agent for different facts about the seller, including, how fast does the seller need to close? How much money do the sellers already owe on the property? Has the home already been on the market?
The biggest factor as to what to offer is how many similar properties have sold in the past 3 to 4 months and what they have sold for.
By determining these factors you can feel more confident about your offer. For instance: if you find a home you love listed at $500,000 yet similar properties around the area are listed at $400,000-$460,000, and this is the highest-priced home within its comparable range, more than likely it's priced too high. However, the sellers might need to get at least $500,000 in order to pay back a loan.
While this is not something you need to be concerned about, it does tell you whether or not the sellers are willing to accept a lower offer. If you know that the home is overpriced and yet the seller is unwilling to go any lower, it's probably not worth placing an offer. If the seller is simply testing the market trying to get the highest price, you're more than welcome to submit a lower-priced offer but if it's a new listing, be prepared for either rejection or a counteroffer.
Your buyer's agent can mention to the listing agent that the home is overpriced for its comparable sales. Of course, the seller is free to reject or accept any offer but they may find themselves sitting on the market for quite some time. It's at this time that buyers can scoop back in with a similar offer and have it finally accepted. But, are you willing to wait that long?
The home's condition plays a significant role in determining the offer you should make. If a home is comparable in size, lot size, bedroom and bathroom count, and location, but it's considerably more run-down compared to similar properties that have sold, it's advisable not to offer as much. In your offer, you can include specific provisions, such as requesting repairs, a price reduction, or, of course, a contingency related to a <a href="https://www.tylerhousehunters.com/area-resources/burks-team-favorites/" target="_blank">home inspection</a>.
This contingency indicates that you won't proceed with the property's purchase until a professional home inspection has been conducted. During this inspection, you have several options: you can choose to reject the transaction and look for another property, request specific repairs or items from the seller, negotiate a lower purchase price, or decide to accept the property as it is.
A purchase and sale agreement typically includes several essential components: the property's address being acquired, the proposed purchase price, the closing date, the contact details of both the buyer and seller, financial information from the buyer or borrower, and any potential contingencies related to the purchase, such as home inspections and financing conditions. Additionally, there might be a contingency allowing the buyer to sell another property before completing this purchase, but it's important to note that this contingency can be quite risky and may not increase the likelihood of your offer being accepted.
Understanding the seller's motivation is crucial for homebuyers. Sellers may reject offers that appear well-prepared or accept lower offers on occasion. To navigate these situations successfully, having a reliable, experienced, and skilled buyer's agent to oversee the transaction and provide valuable guidance, tips, and advice throughout the process is essential.
2023-10-25T07:23:43-07:002023-10-25T08:51:58-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:20245Smith County Housing Market Update August 2023The Smith County housing market is showing signs of cooling off, with the median home price decreasing slightly in August 2023 compared to the previous year. However, the market is still relatively strong, with closed sales increasing by 18.3% over the same period.
Median Home Price
The median home price in Smith County was $317,250 in August 2023, down 0.9% from the previous year. This is the first time the median home<img src="https://assets.site-static.com/userfiles/3349/image/smith.jpg" width="300" height="388" alt="Real Estate Market Update Tyler TX" title="Real Estate Market Update Tyler TX" style="float: right;" /> price has decreased in Smith County since August 2020.
Active Listings
The number of active listings in Smith County increased by 44.7% in August 2023 compared to the previous year. This increase in inventory is likely a factor in the slight decrease in the median home price.
Days on Market
Homes in Smith County spent an average of 42 days on the market in August 2023, up 12 days from the previous year. This increase in days on market is another indication that the market is cooling off slightly.
Closed Sales
Closed sales in Smith County increased by 18.3% in August 2023 compared to the previous year. This increase in closed sales suggests that there is still strong demand for homes in Smith County, even though the market is cooling off slightly.
Months of Inventory
Smith County had 3.9 months of inventory in August 2023, up from 2.2 months of inventory in the previous year. This increase in months of inventory indicates that there is more supply of homes on the market than there was a year ago.
Overall, the Smith County housing market is still relatively strong, but it is showing signs of cooling off. The median home price has decreased slightly, the number of active listings has increased, and homes are spending more time on the market. However, closed sales have increased, suggesting that there is still strong demand for homes in Smith County.
What does this mean for buyers and sellers?
For buyers, the cooling market may provide more opportunities to negotiate on price and terms. However, it is important to be prepared to act quickly, as homes are still selling relatively quickly in Smith County.
For sellers, it is important to price your home competitively and to make it stand out from the competition. You may also want to consider offering concessions, such as a free home warranty or closing cost assistance, to make your home more attractive to buyers.
If you are considering buying or selling a home in Smith County, it is important to work with a qualified real estate agent. The Burks Team would love to discuss what these numbers could mean for your family and home equity.2023-09-20T11:39:22-07:002023-09-20T11:46:32-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:18709Community Spotlight: Azalea DistrictExploring the Enchanting Azalea District in Tyler, TX: A Community Spotlight
Welcome to the enchanting Azalea District in Tyler, Texas! Nestled amidst the rolling hills of East Texas, this historic neighborhood is renowned for its breathtaking display of vibrant azalea blooms that paint the streets in a kaleidoscope of colors each spring. Beyond its floral charm, the Azalea District is a tight-knit community that celebrates its rich heritage, picturesque landscapes, and warm hospitality. Join us as we embark on a delightful journey through the Azalea District and discover its unique treasures.
A Blooming Paradise: As you step into the Azalea District, you'll find yourself surrounded by an exquisite tapestry of blooming azaleas. From delicate pinks to fiery reds, the neighborhood's diverse collection of azalea varieties transforms the streets into a floral wonderland. Each spring,<img src="https://assets.site-static.com/userfiles/3349/image/azaleadistrict.JPG" width="375" height="241" alt="Azalea District Homes for Sale" title="Azalea District Homes for Sale" style="float: right;" /> the community comes alive with the <a href="https://www.tylerhousehunters.com/homes-for-sale-tyler-tx/" title="Tyler TX Homes for Sale">Tyler</a> Azalea Trail, a month-long celebration showcasing the district's stunning gardens and homes. Take a leisurely stroll along the trail and be captivated by the beauty that awaits around every corner.
Historic Architecture: While the azaleas steal the spotlight, the Azalea District also boasts an impressive array of historic homes and buildings. The district's streets are lined with stunning examples of Colonial Revival, Neoclassical, and Tudor-style architecture. These well-preserved gems offer a glimpse into the past, telling stories of a bygone era. Don't miss the opportunity to explore the Goodman Museum, a Victorian mansion turned museum that chronicles the history of Tyler and the Azalea District.
Charming Parks and Gardens: The Azalea District is not just about the azaleas—it also offers a tranquil escape into nature. Bergfeld Park, one of the district's most beloved green spaces, features lush lawns, majestic trees, and a charming rose garden. It serves as a gathering place for community events, concerts, and picnics. Another gem is the Tyler Rose Garden, a sprawling 14-acre oasis that showcases over 38,000 rose bushes, making it one of the largest rose gardens in the United States. Take a leisurely stroll through its fragrant paths and lose yourself in the beauty that surrounds you.
Community Spirit: What truly sets the Azalea District apart is its strong sense of community. Residents and visitors alike are welcomed with open arms, fostering a warm and inclusive atmosphere. The district hosts various events throughout the year, including art shows, festivals, and <img src="https://assets.site-static.com/userfiles/3349/image/azaeladistrict3.jpg" width="350" height="234" alt="Azalea District Real Estate" title="Azalea District Tyler TX" style="float: left;" />neighborhood block parties, encouraging interaction and connection among its residents. The Azalea Residential Historic District Association plays a vital role in preserving the district's unique character and promoting community engagement.
Unique Shopping and Dining: The Azalea District offers a delightful shopping experience with its charming boutique shops, local crafts, and antiques. Explore the eclectic mix of shops along South Broadway Avenue and discover one-of-a-kind treasures to take home. Just a short distance away, downtown Tyler awaits with a vibrant culinary scene. From cozy cafes to upscale eateries, <a href="https://www.tylerhousehunters.com/downtown-tyler-real-estate/" title="Downtown Tyler Homes for Sale">downtown Tyler</a> offers a wide range of dining options to satisfy every palate. After a day of exploring the Azalea District, venture downtown and indulge in the flavors of Tyler's renowned culinary delights.
The Azalea District in Tyler, TX, is a true gem that embodies the beauty, history, and community spirit of East Texas. Whether you're a nature lover, architecture enthusiast, or simply seeking a warm and welcoming community, this district will captivate your heart. Plan your visit during the Tyler Azalea Trail to witness the breathtaking azalea blooms or come any time of the year to experience the district's timeless charm. If you are considering making a move you can search for <a href="https://www.tylerhousehunters.com/azalea-district/" title="Azalea District Homes for Sale">Azalea District homes for sale</a>.2023-06-09T08:24:51-07:002023-06-09T12:06:35-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:18207Community Spotlight- Emerald Bay<a href="https://www.tylerhousehunters.com/emerald-bay/" title="Emerald Bay Homes for Sale">Emerald Bay</a> in Bullard, Texas – a hidden gem nestled in the heart of East Texas. This picturesque community offers a unique blend of natural beauty, recreational opportunities, and a close-knit neighborhood atmosphere. Whether you're looking for a place to retire, raise a family, or simply<img src="https://assets.site-static.com/userfiles/3349/image/emerald_bay_home_for_sale.jpg" width="350" height="234" alt="Emerald Bay Home" title="Emerald Bay Home" style="float: right;" /> enjoy a peaceful lifestyle, Emerald Bay has something for everyone. In this blog post, we'll explore what makes Emerald Bay such a special place to call home.
Gated Community and Security
One of the defining features of Emerald Bay is its gated entrance, providing residents with a sense of security and exclusivity. The community takes pride in maintaining a safe and welcoming environment, ensuring peace of mind for homeowners. The gated entrance also adds to the overall aesthetic appeal of the neighborhood, giving it a sense of elegance and charm.
Lake Living and Recreation
Emerald Bay is situated along the shores of <a href="https://www.tylerhousehunters.com/lake-palestine/" title="Lake Palestine Homes for Sale">Lake Palestine</a>, offering residents breathtaking views and endless opportunities for waterfront living. The lake is perfect for boating, fishing, and water sports, allowing residents to embrace an active and outdoorsy lifestyle. Whether you prefer a relaxing day of fishing or an exhilarating day of water skiing, Lake Palestine has it all.
Golf and Country Club
Golf enthusiasts will find themselves at home in Emerald Bay. The community boasts an 18-hole championship golf course, designed to challenge <img src="https://assets.site-static.com/userfiles/3349/image/emerald_bay_golf.JPG" width="350" height="232" alt="Emerald Bay Golf" title="Emerald Bay Golf" style="float: left;" />players of all skill levels. With its lush fairways, rolling greens, and scenic views, golfers can enjoy a memorable round while soaking in the beauty of the surrounding landscape. Additionally, the community's country club offers amenities such as a swimming pool, tennis courts, and a clubhouse, providing ample opportunities for socializing and recreation.
Tight-Knit Community and Activities
Emerald Bay is renowned for its strong sense of community. Neighbors quickly become friends, and residents often gather for social events, holiday celebrations, and community activities. The community hosts various events throughout the year, fostering a warm and inclusive environment for all residents. Whether it's a neighborhood BBQ, a book club meeting, or a game of tennis, there's always something to do and someone to connect with in Emerald Bay.
Proximity to Bullard and <a href="https://www.tylerhousehunters.com/homes-for-sale-tyler-tx/" title="Homes for Sale Tyler TX">Tyler</a>
While Emerald Bay offers a serene and peaceful atmosphere, it's conveniently located just a short drive away from the vibrant city of Tyler and the charming town of Bullard. Residents can easily access a wide range of amenities, including shopping centers, restaurants, entertainment venues, and medical facilities. This proximity allows residents to enjoy the best of both worlds – the tranquility of Emerald Bay and the urban conveniences nearby.
In conclusion, Emerald Bay in <a href="https://www.tylerhousehunters.com/homes-for-sale-bullard-tx/" title="Homes for Sale Bullard TX">Bullard, Texas</a> offers a unique blend of natural beauty, recreational opportunities, and a close-knit community atmosphere. From the serene shores of Lake Palestine to the championship golf course and vibrant social scene, there's something for everyone in this hidden gem. If you're looking for a place to call home that combines a peaceful lifestyle with abundant amenities, Emerald Bay should be at the top of your list.2023-05-11T08:33:35-07:002023-05-11T12:25:11-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:18061Multigenerational Housing
Rebecca Burks is joined by Buyer Specialist and REALTOR Jim Storms this week to discuss a major shift that is being seen in the real estate market. Normally <a href="https://www.tylerhousehunters.com/homes-for-sale-tyler-tx/" title="Homes for Sale Tyler TX">Tyler</a> and <a href="https://www.tylerhousehunters.com/homes-for-sale-longview-tx/" title="Homes for Sale Longview TX">Longview</a> lag behind a bit on trends in the market so it is likely to be seen increasing over the next few years. This shift is in multigenerational housing. The current market has high prices and high interest rates leading people to look for ways to save money. One of the biggest ways to reduce housing expense is to combine households. In this episode we also discuss the upcoming Tyler Garden Tour, give up to date market statistics and give a preview of some great new listings coming soon.2023-05-02T11:54:49-07:002023-05-02T12:14:10-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:18055Lake Spotlight: Lake Tyler<img src="https://assets.site-static.com/userfiles/3349/image/Lake_Tyler_Aerial.jpg" width="682" height="384" alt="Lake Tyler Drone Photo" title="Lake Tyler TX Aerial View" style="vertical-align: middle;" />
Located in eastern Texas, Lake Tyler is a popular recreational spot for locals and visitors alike. With its sparkling waters, scenic views, and abundance of activities, it’s no wonder why so many people flock to this picturesque lake every year. In this blog post, we’ll take a closer look at what makes Lake Tyler so special. Lake Tyler is surrounded by our local communities<a href="https://www.tylerhousehunters.com/homes-for-sale-tyler-tx/" title="Homes for Sale Tyler TX"> Tyler</a>, <a href="https://www.tylerhousehunters.com/homes-for-sale-whitehouse-tx/" title="Homes for Sale Whitehouse TX">Whitehouse</a>, <a href="https://www.tylerhousehunters.com/homes-for-sale-troup-tx/" title="Homes for Sale Troup TX">Troup</a> and<a href="https://www.tylerhousehunters.com/homes-for-sale-arp-tx/" title="Homes for Sale Arp TX"> Arp</a>.
History and Geography
Lake Tyler is actually made up of two separate bodies of water: Lake Tyler East and old Lake Tyler. Both lakes were created in the mid-20th century as part of a flood control project. The lakes are fed by two creeks, Prairie Creek and Mud Creek, and are connected by a canal.
Lake Tyler East covers over 2,000 acres and has a maximum depth of 40 feet. The lake is located just outside the city of Tyler, and is surrounded by forests and rolling hills. Lake Tyler West, on the other hand, covers just over 1,000 acres and has a maximum depth of 35 feet. It is located to the northwest of Lake Tyler East and is surrounded by a few neighborhoods and a lot of wildlife areas.
Recreation
One of the main draws of Lake Tyler is the wide range of recreational activities it offers. Fishing is a popular pastime on both Lake Tyler East and old Lake Tyler, with anglers casting their lines in search of catfish, bass, crappie, and more. There are several boat ramps and fishing piers located around the lakes to make it easy for visitors to access the water.
Water sports are also a big draw at Lake Tyler. Boating, jet skiing, and water skiing are all popular activities, and there are several marinas located around the lakes that offer boat rentals and other services. Kayaking and paddleboarding are also popular ways to explore the lake, and there are several outfitters in the area that offer rentals and guided tours.
For those who prefer to stay on land, Lake Tyler offers plenty of opportunities for hiking, biking, and picnicking. There are several parks and trails located around the lakes, including the Lake Tyler Nature Center, which offers a variety of educational programs and exhibits.
Events and Attractions
Lake Tyler is home to several annual events and attractions that draw visitors from all over the region. One of the biggest events is the Tyler Yacht Club Regatta, which takes place every spring and features sailboat races, live music, and food vendors. Other popular events include the Lake Tyler Triathlon and the Lake Tyler Oilmen’s Bass Tournament.
We would love you help you find your dream home on Lake Tyler. To get the most up-to-date listings visit our <a href="https://www.tylerhousehunters.com/lake-tyler-real-estate/" title="Lake Tyler Homes for Sale">Lake Tyler home search</a>.
2023-05-01T13:55:27-07:002023-05-01T14:11:29-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:18043How Do I Buy A Home with Zero Down?<img src="https://assets.site-static.com/userfiles/3349/image/buyer_a_tyler_tx_home.jpg" width="800" height="534" alt="Buy a Tyler TX Home Zero Down" title="Buy a Tyler TX Home Zero Down" style="vertical-align: middle;" />
Buying a home is a dream that many people share. However, the down payment required to purchase a home can be a significant obstacle for many people. The need for a large down payment is one of the biggest misconceptions that homebuyers have. Fortunately, there are several options available for homebuyers to purchase a home with zero down payment. In this blog post, we will discuss four loan options that can help you buy a home with zero down payment.
VA Financing- VA financing is a loan program that is available to active-duty military personnel, veterans, and their families. The Department of Veterans Affairs (VA) guarantees a portion of the loan, which allows lenders to offer favorable terms and low or no down payments. With VA financing, there is no down payment requirement, and the loan is available with fixed or adjustable rates. To qualify for VA financing, you must meet certain eligibility criteria, including serving for a minimum period of time and obtaining a Certificate of Eligibility (COE). Another huge benefit of a VA loan is that it often carries a lower interest rate than other types of loan programs.
USDA Financing- USDA financing is a loan program that is available to homebuyers in rural areas. The United States Department of Agriculture (USDA) guarantees the loan, which allows lenders to offer low or no down payments. To qualify for USDA financing, the home you are purchasing must be located in a designated rural area, and you must meet certain income limits. A rural area is often closer than you think. There are online tools that can show you the map but most areas in East Texas qualify outside the <a href="https://www.tylerhousehunters.com/homes-for-sale-tyler-tx/" title="Homes for Sale Tyler TX">Tyler</a> and Longview city limits. Elidgible areas include <a href="https://www.tylerhousehunters.com/homes-for-sale-flint-tx/" title="Flint TX Homes for Sale">Flint</a>, <a href="https://www.tylerhousehunters.com/homes-for-sale-whitehouse-tx/" title="Homes for Sale Whitehouse TX">Whitehouse</a>, <a href="https://www.tylerhousehunters.com/homes-for-sale-bullard-tx/" title="Bullard TX Homes for Sale">Bullard</a>, <a href="https://www.tylerhousehunters.com/homes-for-sale-in-jacksonville-tx/" title="Jacksonville TX Homes for Sale">Jacksonville</a>, <a href="https://www.tylerhousehunters.com/homes-for-sale-gilmer-tx/" title="Gilmer Homes for Sale">Gilmer</a>, <a href="https://www.tylerhousehunters.com/homes-for-sale-chandler-tx/" title="Chandler TX Homes for Sale">Chandler</a> and more!
Grant Programs- Grant programs are available to assist homebuyers with down payment and closing costs. These programs provide grants that do not have to be repaid, and they can be used to cover a portion or all of the down payment and closing costs. Grant programs are available from state and local governments, non-profit organizations, and private companies. Some grant programs have income limits or other eligibility requirements, so it is important to research the program carefully before applying. One downside of these programs is that often you are required to occupy the property for a certain number of years or you are required to pay the grant back.
Professional Loan- Programs Professional loan programs in the past were only available to certain professions, such as doctors, dentists, and lawyers. Now there are professional programs that offer zero down financing for many more professions that have a license including teachers, realtors, plumbers, CPAs and more. These loan programs offer favorable terms and low or no down payments to help these professionals purchase a home. Professional loan programs are available with fixed or adjustable rates, and they may also offer other benefits, such as flexible underwriting guidelines and higher loan limits.
In conclusion, there are several options available to help homebuyers purchase a home with zero down payment. VA financing, USDA financing, grant programs, and professional loan programs are just a few of the options available. It is important to research each option carefully and work with a knowledgeable lender to determine which option is best for your unique situation. By taking advantage of these loan programs, you can make your dream of homeownership a reality. The Burks Team has been helping home buyers evaluate their options in the Tyler and Longview areas for over 25 years. We are here to help!
2023-04-28T12:30:56-07:002023-04-28T12:48:45-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:17811Community Spotlight-Holly Lake Ranch<a href="https://www.tylerhousehunters.com/holly-lake-ranch-tx/" title="Homes for Sale Holly Lake Ranch">Holly Lake Ranch</a>, Texas is a beautiful and vibrant community located in the heart of East Texas. With a population of just over 2,000 residents, this charming community offers a peaceful and relaxed way of life that's perfect for families, retirees, and anyone who wants to escape the hustle and bustle of city living. In this blog post, we'll take a closer look at what makes Holly Lake Ranch such a special place to live.
Natural Beauty
One of the most significant attractions of Holly Lake Ranch is its natural beauty. The community is nestled in the midst of towering pine trees, rolling hills, and sparkling lakes. This natural setting provides residents with a stunning backdrop for outdoor activities such as fishing, boating, hiking, and golfing. The community is also home to several parks and green spaces where residents can enjoy picnics, sports, and other recreational activities.
Amenities
Despite its secluded location, Holly Lake Ranch has an impressive array of amenities that make it an ideal place to call home. The community is home to two golf courses, a tennis court, swimming pools, a fitness center, and several restaurants. There are also numerous clubs and organizations that residents can join, including the Holly Lake Ranch Tennis Club and the Holly Lake Ranch Bass Club.
Close-Knit Community
Holly Lake Ranch is known for its close-knit community of residents who are friendly, welcoming, and always ready to lend a helping hand. The community hosts several events throughout the year, such as holiday parties, concerts, and festivals. These events provide an opportunity for residents to get to know their neighbors and build lasting friendships.
Convenient Location
While Holly Lake Ranch may feel like a remote oasis, it's actually conveniently located just a short drive from several major cities. The community is less than two hours from Dallas and just over an hour from <a href="https://www.tylerhousehunters.com/homes-for-sale-tyler-tx/" title="Homes for Sale Tyler TX">Tyler,</a> making it easy for residents to enjoy the amenities of these urban areas while still living in a tranquil and serene setting.
In conclusion, Holly Lake Ranch, Texas is a beautiful and vibrant community that offers residents a relaxed way of life surrounded by natural beauty, impressive amenities, and a close-knit community. Whether you're looking for a retirement destination, a family-friendly community, or a place to escape the stress of city living, Holly Lake Ranch is definitely worth a closer look.2023-04-11T13:41:11-07:002023-04-11T14:05:41-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:17809Buying A Home with AcreageEast Texas is a beautiful region of the Lone Star State that is known for its vast stretches of farmland and ranches. If you're looking to buy property in this part of Texas, there are several things you should consider. In this blog post, we'll take a look at some of the key factors to keep in mind when buying farm or ranch property in East Texas.
Location
The first thing you should consider is the location of the property. East Texas covers a large area, so you'll need to decide which part of the region you want to buy in. Prices can be considerably higher the closer you get to <a href="https://www.tylerhousehunters.com/homes-for-sale-tyler-tx/" title="Homes for Sale Tyler TX">Tyler</a> or <a href="https://www.tylerhousehunters.com/homes-for-sale-longview-tx/" title="Homes for Sale Longview TX">Longview</a>. Consider factors like proximity to major cities, access to highways, and the types of industries that are prevalent in the area. These factors can affect the value of your property and its potential for development.
Soil Quality
The soil quality is also an important consideration when buying farm or ranch property. You'll want to have the soil tested to determine its nutrient content and pH level. This will help you determine the types of crops that will grow well on the land and the types of fertilizers you'll need to use. Soil quality can also affect the quality of the water on the property, so be sure to test that as well.
Water Sources
Water is another critical factor to consider when buying farm or ranch property in East Texas. You'll need to ensure that the property has access to a reliable source of water for irrigation and livestock. Depending on the location, this could be a well, a stream, or a pond. You'll also want to check the quality of the water to ensure that it's safe for consumption by both humans and animals.
Land Use Restrictions
Before you buy a farm or ranch property, you'll need to check the land use restrictions that apply to the property. These may include zoning regulations, environmental restrictions, and easements. These restrictions can affect your ability to develop the property or use it for certain types of agricultural activities. Make sure you understand these restrictions before you make an offer on the property.
Infrastructure
Finally, you should consider the infrastructure that's already in place on the property. This includes things like fences, barns, and other structures that are necessary for farming and ranching activities. If the property doesn't have these structures in place, you'll need to factor in the cost of building them when you're considering the price of the property.
In conclusion, buying farm or ranch property in East Texas can be an excellent investment if you're prepared to do your due diligence. Be sure to consider factors like location, soil quality, water sources, land use restrictions, and infrastructure before you make an offer on any property. With careful consideration and the help of The Burks Team, you can find the perfect farm or ranch property in East Texas.<a href="https://www.tylerhousehunters.com/farm-and-ranch/" title="Homes with Acreage"> Search for Homes with Acreage</a> here.2023-04-11T12:49:35-07:002023-04-11T13:41:05-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:17369Does Zillow Give Accurate Pricing?If you're selling your home, you may be considering using Zillow to get an idea of how much your property is worth. However, it's important to understand that Zillow's home price estimates, or "Zestimates," aren't always accurate, and relying solely on them can be risky. In this article, we'll discuss the reasons why Zillow home price estimates can be inaccurate, and why you need an expert agent to help you navigate the home-selling process. These estimates can be particularly inaccurate in the Tyler and Longview areas due to sales prices in Texas being private data.
What is a Zestimate?
A Zestimate is an estimate of a property's value based on various data sources and algorithms. Zillow uses publicly available information, such as tax records and recent home sales, as well as information entered by users, to calculate a Zestimate. The algorithm takes into account factors such as the property's location, size, and age, as well as recent sales of comparable homes in the area. While Zestimates can give you a rough idea of how much your property might be worth, they should not be relied upon as a definitive value.
Why Zestimates can be inaccurate
Limited data sources: Zestimates are based on publicly available data, which may not always be complete or accurate. For example, if your property has unique features or has been remodeled in a way that isn't reflected in public records, the Zestimate may not accurately reflect its true value.
Lack of context: Zestimates don't take into account the unique features and characteristics of your property. For example, if your property has a stunning view or has been recently renovated, it may be worth more than a similar property without those features, but the Zestimate won't reflect that.
Market fluctuations: Zestimates are based on historical data, so they may not reflect current market conditions. If the real estate market is slow or properties aren't selling quickly, the Zestimate may not accurately reflect the current value of your property.
Errors in data entry: Zestimates rely on users to input information about a property, which can lead to errors and inaccuracies. For example, if a user mistakenly enters the wrong square footage or number of bedrooms, the Zestimate will be incorrect.
Why you need an expert agent like the Burks Team.
While Zillow and other online real estate platforms can be a useful starting point for your home-selling journey, they should not be relied upon as the sole source of information. A professional real estate agent can provide you with valuable insight and guidance throughout the home-selling process. Here are some reasons why you should work with an expert agent:
Local knowledge: A good agent will have in-depth knowledge of the local real estate market, including recent sales and current market conditions. They can provide you with an accurate assessment of your property's value and help you price it competitively.
Marketing expertise: Selling a home requires more than just putting a listing online. An experienced agent can help you create an effective marketing strategy to attract potential buyers and sell your property quickly.
Negotiation skills: Selling a home can be a complex and emotional process. An experienced agent can help you navigate negotiations and advocate for your interests.
Professional network: A good agent will have a network of professionals, such as home stagers and photographers, that they can recommend to you. This can help ensure that your property looks its best and attracts potential buyers.
If you are looking for an accurate market value of your property in the Tyler or Longview markets we would love to help. We have several options. You can get an in depth market analysis for your East Texas property by calling our office at 903-561-2600 to set up a full market analysis. If you are looking for a quicker way to get a market value we offer our own proprietary online market evaluation tool that allows you to enter more data than a simple Zestimate. You can get your <a href="https://tylerhousehunters.hifello.com/lp/877a0945-c962-427c-9032-e7ff471df0f0" title="What is my Tyler Home Worth?">free online market value here</a>.
Conclusion
While Zillow's Zestimates can be a useful starting point for your home-selling journey, they should not be relied upon as the sole source of information. A professional real estate agent can provide you with valuable insight and guidance throughout the home-selling process, including an accurate assessment of your property's value and an effective marketing strategy to help you sell it quickly and for the best price possible.2023-03-09T15:58:34-07:002023-03-09T16:08:45-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:17198Top Questions to Ask a Home Builder<img src="https://assets.site-static.com/userfiles/3349/image/Building_in_Tyler_TX.jpg" width="700" height="587" alt="Building in Tyler TX" title="Building in Tyler TX" style="vertical-align: middle;" />
Building your dream home is an exciting experience. It's an opportunity to create a living space that fits your specific needs, style, and budget. However, choosing the right home builder can make or break the process. With so many builders out there, it can be challenging to know which one to trust. The Burks Team has worked with dozens of builders in the Tyler and Longview areas. We would love to help quide you through the construction process. Here are some critical questions to ask when finding a home builder:
What is your experience and credentials? The first question you should ask any potential home builder is about their experience and credentials. It's essential to work with a licensed and experienced builder who can deliver high-quality work. Ask about their track record, years of experience, and their qualifications.
Can you provide references? A reputable home builder will be happy to provide you with references from previous clients. Reach out to those references and ask about their experience with the builder, including the quality of work, communication, and overall satisfaction with the process.
What is the timeline for the project? Building a home takes time, but it's important to have a clear understanding of how long the project will take from start to finish. Ask the builder for a timeline and make sure it fits with your needs and expectations.
What is the cost of the project? Building a home is a significant investment, so you need to know the cost upfront. Ask for a detailed breakdown of the cost, including any potential additional costs that may come up during the process.
What is included in the contract? Before signing a contract, make sure you understand what is included in it. The contract should outline all the details of the project, including the scope of work, timelines, and payment schedules.
How do you handle changes during the process? Building a home is a collaborative process, and changes may come up along the way. Ask the builder how they handle changes, including how they communicate changes to you and how they adjust the timeline and cost accordingly.
What is your communication style? Communication is crucial when building a home. You want to work with a builder who is responsive and communicates effectively. Ask the builder how they communicate with clients, including their preferred methods and how often they provide updates.
Can you provide a warranty? A home builder should stand behind their work and provide a warranty on the home. Ask about the builder's warranty policy, including what is covered and for how long.
Choosing the right home builder is essential to creating the home of your dreams. Take the time to ask these critical questions, and don't be afraid to ask for clarification or more information. With the right builder, building your dream home can be a smooth and enjoyable experience. If you are wanting to find a new home but without the hassle of building you can find <a href="https://www.tylerhousehunters.com/new-construction/" title="New Construction Homes for Sale Tyler TX">new construction for sale</a>.2023-02-24T09:53:58-07:002023-02-24T10:00:59-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:17188Tyler TX Restaurant Guide<img src="https://assets.site-static.com/userfiles/3349/image/Tyler_TX_Restaurant_Guide.jpg" width="750" height="423" alt="Tyler TX Local Restaurants" title="Tyler TX Local Restaurants" style="vertical-align: middle;" />
Tyler, Texas is known for its charming downtown area and wide range of dining options. Whether you're in the mood for classic Texas BBQ or something more upscale, there's something for everyone. As a resident of Tyler and a food enthusiast, I have compiled a list of some of the top local restaurants that you won't want to miss.
Stanley's Famous Pit BBQ
For mouth-watering, authentic Texas BBQ, look no further than Stanley's Famous Pit BBQ. Stanleys is a legendary Texas BBQ spot featured in the top 50 locations from Texas Monthly. Located on South Beckham Avenue, this casual spot offers classic favorites such as brisket, ribs, and sausage, as well as creative dishes like the Frito pie and the Mother Clucker. Don't forget to try their famous homemade sauce!
The Grove Kitchen & Gardens
The Grove Kitchen & Gardens is a farm-to-table restaurant located on Old Jacksonville Highway that offers a unique dining experience. The menu features locally-sourced ingredients and changes seasonally to ensure the freshest flavors. The outdoor seating area, surrounded by lush gardens, is the perfect setting for a romantic dinner or special occasion. The Grove often features live music both outdoors and in their bar area.
Villa Montez
If you're looking for upscale Latin cuisine, Villa Montez in East Tyler. The restaurant is located in a beautifully restored mansion with stunning views of the surrounding area. The menu features dishes inspired by Latin American and Caribbean flavors, such as ceviche, plantain chips, and empanadas.
<a href="https://www.tylerhousehunters.com/kiepersol-homes-for-sale/" title="Kiepersol Homes for Sale">Kiepersol</a> Restaurant & Vineyard
For a true taste of East Texas, head to Kiepersol Restaurant & Vineyard on FM 344 just south of Tyler near Bullard. The restaurant is located on a vineyard and offers stunning views of the rolling hills. The menu features locally sourced ingredients, including beef, poultry, and produce. Be sure to pair your meal with one of their award-winning wines. They also have a wine tasting room for those looking for a more casual evening.
The Diner
For classic diner fare, The Diner on South Broadway Avenue is a must-visit. The menu features breakfast all day, burgers, sandwiches, and milkshakes. They offer a wide variety of classic diner dishes.
Don Juan's Mexican Restaurant
If you're in the mood for Mexican cuisine, Don Juan's is a local favorite. There are two locations in and near <a href="https://www.tylerhousehunters.com/downtown-tyler-real-estate/" title="Downtown Tyler Real Estate">downtown Tyler</a>. The menu features classic dishes such as enchiladas, tacos, and fajitas, as well as more unique options like the seafood enchiladas and the chicken mole. Don Juan's also offers a large selection of margaritas and other cocktails.
Tyler, Texas has a vibrant dining scene, and these are just a few of the top local restaurants that you won't want to miss. From casual BBQ joints to upscale dining experiences, there's something for every taste and budget. So next time you're in Tyler, be sure to check out these local favorites!2023-02-23T14:00:00-07:002023-02-23T14:13:53-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:17186Getting Your Home Ready to SellWe have seen countless homes that have been put on the market without proper preparation, resulting in longer time on the market and lower selling prices. If you're planning to sell your home, it's crucial to take the time to get it ready and make a great first impression on potential buyers. Here are some tips from the Burks Team when getting your home ready to sell:
Start with a deep clean
Before you do anything else, give your home a thorough cleaning. This includes everything from dusting surfaces to scrubbing floors and walls.<img src="https://assets.site-static.com/userfiles/3349/image/Tyler_TX_Real_Estate.jpg" width="300" height="200" alt="Home for Sale Tyler TX" title="Home for Sale Tyler TX" style="float: right;" /> Clean the windows, carpets, and upholstery, and make sure that the bathrooms and kitchen are spotless. A clean home will make it easier for buyers to envision themselves living there.
Declutter and depersonalize
When selling your home, less is more. Remove any personal items such as family photos and mementos. You want to create a blank canvas that potential buyers can imagine filling with their own memories. Additionally, decluttering your home will make it feel more spacious and open. Consider packing up any items that are not necessary and putting them in storage. You want the buyer to focus on how this home could work for them and not your interesting personal belongings.
Make repairs
It's important to make any necessary repairs before listing your home. This includes fixing leaky faucets, replacing broken tiles, and patching any holes in the walls. If your home is in need of major repairs, such as a new roof or HVAC system, consider making those repairs before listing your home to increase its value. Make sure to do the little things like replacing light bulbs and air filters. These items show a buyer that the home is being cared for by the current owner.
Enhance curb appeal
The exterior of your home is the first thing potential buyers will see, so it's essential to make a great first impression. East Texas heat can be rough on the exterior of your home without proper maintenance. Enhance your home's curb appeal by planting flowers, trimming bushes, and adding a fresh coat of paint to the front door. Ensure that your lawn is well-maintained and that any outdoor clutter is removed.
Stage your home
Staging your home can help potential buyers envision themselves living in the space. This can be as simple as rearranging furniture to make rooms feel more spacious or adding decorative accents such as throw pillows or artwork. A big items to consider is often more people are walking through the home. Sometimes there is a realtor, home buyers, parents, and kids all walking together. Make sure to have plenty of open walkways.
Price it right
One of the most important factors in selling your home is pricing it right. The Burks Team is here to help you in getting the price right. We have been selling in the Tyler, TX area for decades and have sold over 5000 Tyler area homes.. Remember, overpricing your home can result in it sitting on the market for longer, while underpricing it can leave money on the table.
Selling your home can be a stressful process, but by taking the time to get it ready before listing, you can make the experience smoother and more successful. By following these tips, you'll be well on your way to a successful sale. We are here to provide guidance on getting your home sold quickly and for the most money.2023-02-23T12:51:23-07:002023-02-23T13:08:39-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:16218Dropping Mortgage Rates in East Texas?<img src="https://assets.site-static.com/userfiles/3349/image/mortgage_calculator.jpg" width="750" height="410" alt="East Texas Mortgage" title="East Texas Mortgage" />
If you have watched the news over the last few months mortgages rates have been making headlines for their rapid climb. Early in 2022 we were at historic lows and they rapidly rose. The economy has shifted which has led to a drop in interest rates but that has not been making news headlines.
National mortgage rates dropped to 6.31% this week with Legacy Mortgage here locally being able to lock in some homebuyers under 6%! This is a huge drop from when interest rates topped out at about 7.5%.
What does that mean for you? Well mortgage rates are one of the biggest factors is your home purchasing power.
Nationwide the median priced home is about $379,000 and it is a little bit lower than that in the Tyler or Longview areas. If you had a budget around $2600 per month the chart below gives you a good idea of how the mortgage rate can impact your purchase.
<img src="https://assets.site-static.com/userfiles/3349/image/payment_graph.png" width="960" height="720" alt="Mortgage Payment Tyler TX" title="Mortgage Payment Tyler TX" />
This recent drop in mortgage rates of 1.5% makes right now a much more appealing time to purchase. We would love to have a home buyer strategy session to see how we can help in meeting your families real estate goals. Mortgage rates change everyday so we would love to sit down and discuss options with you.
2022-12-19T13:39:39-07:002022-12-19T13:55:27-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:16181Do Home Buyers Finally Have Negotiating Power?<img src="https://assets.site-static.com/userfiles/3349/image/Home_buyer_realtor.jpg" width="750" height="410" alt="Home Buyer Realtor" title="Home Buyer Realtor" />
Over the recent years did you put your home search on hold due to competitive situations and bidding over asking price becoming the norm? If that was the case for you now might be the right time for you with the housing market taking a break. Now there is lower competition which leads to purchasers gaining back some of the power.
The shift towards a less competitive market gives buyers an opportunity that wasn't there before. Below are some items that might lead you back into the market.
1. Inspections and Appraisals are Back!
Many buyers were having to give up on things like having an inspection or appraisal done to get an advantage over other buyers. Now that the market has normalized buyers are able to negotiate typical contract items that lead to a safer purchasing process.
According to recent data from the National Association of Realtors many sellers are back to accepting these once normal contract terms.
While it might not be a full tilt buyers market we are seeing sellers have some negotiating room in the East Texas real estate market. Buyers are likely to get some terms to go in their favor.
2. First Time Home Buyers Return
The recent real estate market had been almost impossible for a first time home buyers. Often sellers were looking for buyers who were paying cash, had no inspection, or had a huge down payment. Most first time homebuyers cannot accomplish those terms.
Now the market.in East Texas allows for buyers with minimal down payments to be able to get a home. Sellers are also more likely in todays market to chip in towards closing costs which was almost unheard of a few months ago.
Get in Touch
We love to help buyers accomplish their real estate goals in Tyler and the surrounding areas. Every situation is different and we would love to have a strategy session on how we can help you accomplish your real estate goals.
2022-12-14T13:50:40-07:002022-12-14T14:48:50-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:16047Benefits of Buying a Home NowBenefits of Buying an East Texas Home Today
<img src="https://assets.site-static.com/userfiles/3349/image/Home_Buying_Tyler.jpg" width="750" height="410" alt="Home Buying Tyler TX" title="Home Buying Tyler TX" /><br /><br />
The real estate market has for sure had a shift and it might seem like there is a lot of uncertainty. There are several reasons that give the buyer a big advantage over the last couple of years.
Often the media has news stories that are far more dramatic than what is actually happening. It is best to educated yourself through the help of local experts and The Burks Team has been through decades of market shifts in Tyler and the surrounding areas.
These are just a few reasons that now is a great time to start a home search.
1. Increase in Homes on the Market
The National Association of Realtors (NAR), shows that the supply of homes on the market has steadily grown throughout the year (see chart below):
<img src="https://assets.site-static.com/userfiles/3349/image/Supply_of_Homes_Tyler.png" width="960" height="720" alt="East Texas Home Supply" title="East Texas Home Supply" />
The growing inventory is because many homebuyers have paused their search with higher interest rates and more sellers are choosing to put their home on the market.
This is great news for a buyer because now there are options so you can pick the ideal home for your family. More homes on the market also means that there is less competition and you can likely get a better deal in the current market.
2. Stable Home Prices
Most experts are not projecting a housing price crash because there is still low inventory. Most experts are projecting pretty flat home prices nationwide (see chart below):
<img src="https://assets.site-static.com/userfiles/3349/image/Home_Prices_East_Texas.png" width="960" height="720" alt="Home Prices East Texas" title="Home Prices East Texas" />
If you have a long term time horizon this is a great time to buy. The experts are not projecting a market crash like 2008. Every market is different so we would love to answer questions on where we think the Tyler real estate market will head.
3. Declining Mortgage Rates
Mortgage rates have gone up throughout the year but over the last few weeks we have seen the drop by about 1.5%. We can't predict what interest rates will do but if inflation eases then we should see mortgage rates follow.
If mortgage rates drop much further we might end up back in a crazy market with multiple offers driving up prices. You can always refinance if rates come down but you can't recover the money if you have to offer way over asking price.
Now Is The Time
Real estate is always market specific and we would love to discuss your goals.
2022-12-07T09:34:13-07:002022-12-09T09:25:57-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15954Using Your Home Equity<img src="https://assets.site-static.com/userfiles/3349/image/Tyler_TX_Home.jpg" width="750" height="410" alt="Tyler TX Real Estate" title="Tyler TX Real Estate" />
If you are a homeowner in Tyler or East Texas odds are you have seen a dramatic rise in the amount of equity you have in your home. Using your home equity can be a great way to achieve your financial goals as it builds up over time. Nationwide the average homeowner is sitting on $300,000 of equity in their home right now.
Currently there is a lot of uncertainty in the economy between high interest rates, inflation and the risk of a recession. The Burks Team is here to help with evaluating your most valuable asset and how you can tap into your equity. We will highlight a few examples of how you can use those funds.
1. Get a Better Home for Your Situation
We all have life changes and with that we have a change in what we need in a home. You might be out of room or often need to downsize due to a lifestyle change. The last few years has been tough to sell and buy another home in an overheated market. Now that the market is normalizing this is in reach for many homeowners who can tap their equity to get the right home for them.
You need to evaluate your options and how to best achieve your goals. Many real estate agents have not been around for a shifting market and The Burks Team has been in the Tyler area though hot, cold and normal markets.
2. Upgrade Your Home
Maybe you are in a situation where your current home is close to meeting your needs. Tapping your home equity is a great option if you love your home but just need a few changes.
Improving your home can make it fit your lifestyle better or maybe there are just some cosmetic things that need attention. When deciding to improve your current home make sure to think through which improvements add value and which may not. We would love to provide guidance as a local real estate professional to help with which improvements are best to take on first.
3. Achieving Other Goals
Often people have personal goals that they put on hold due to a lack of funding. This could be furthering your education, going on vacation, or even investing in other real estate. It isn't a good idea to tap your equity for your day to day spending but for things like education, a new business venture, or even investing it can be a great option.
You should always have a good pulse on how much equity there is in your current home especially in an uncertain market!
2022-11-30T12:21:52-07:002022-11-30T14:24:51-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15627Smith County Approves New Courthouse<a href="https://youtu.be/fqtcFB19PC0?si=mAyZmwm9nO7e5DtP" target="_blank"><img src="https://assets.site-static.com/userfiles/3349/image/Screenshot_2024-01-16_102353.png" width="884" height="497" alt="Smith County Approves New Courthouse" title="Smith County Approves New Courthouse" /></a>
On November 8, 2022 voters went to the polls to decide the fate of a new courthouse in Smith County. The proposed plan will demolish the existing courthouse that has been in use since 1955. With the demolition this will expand the <a href="https://www.tylerhousehunters.com/downtown-tyler-real-estate/" title="Downtown Tyler">Downtown Tyler</a> square area with more green space for downtown events. The current facility was built to originally house only 2 trial courts. Currently Smith<img src="https://assets.site-static.com/userfiles/3349/image/courthouse%20tyler%20tx.jpg" width="300" height="165" alt="Courthouse Tyler TX" title="Courthouse Tyler TX" style="float: right;" /> County has 7 trial courts and the area is still growing. The new plan will also add a parking garage that is a great need to service the courthouse which currently only has limited on street parking. You can get more information on the comprehensive plan and details in the video above.2022-11-09T13:14:11-07:002024-01-16T10:24:41-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15589Selling Your House During the HolidaysGet a Head Start on Selling Before the Holidays
<img src="https://assets.site-static.com/userfiles/3349/image/Selling_Tyler_TX_Real_Estate.jpg" width="750" height="410" alt="Selling Tyler TX Real Estate" title="Selling Tyler TX Real Estate" /><br /><br />
Often as the year gets ready to end we start thinking about goals for the upcoming new year. One of the biggest decisions we make is if we are planning to move and make a major life change. If your home no longer fits your lifestyle or family needs this might be one of the big decisions you are looking at making. The cooling real estate market has a lot of people asking: Is this the right time to sell? Often the slower months are thought to be worse for sellers but there are some major benefits to selling during the "slow season."
Here are the top reasons the period heading into the holidays can be a great time to sell.
1. Beat Out Your Competition
There are a lot of sellers that do not want their home on the market during Thanksgiving and Christmas. Realistically we are all super busy around the holidays and adding a home sell into the mix can make life tough. This leaves very few homes on the market for buyers that need to move right now.
This can help you home stand out during a lack of inventory in the housing market for East Texas. Get in touch with The Burks Team today to get a jump on the competition and have your home on the market prior to the holidays.
2. Only Show to Serious Buyers
Housing supply has been on the rise but we are still at near all time lows in number of homes on the market. Honestly it is stressful to have dozens of buyers coming through your home. During the spring and summer months there are often showings for buyers who are dreaming or might not be serious. During the winter months generally only serious and qualified buyers are out looking for homes.
Those buyers will still be looking and this combined with the low inventory is a huge advantage for sellers. Get with The Burks Team in Tyler and Longview to get in front of these more eager buyers and not have extra showings.
3. Chance to Move Up or Down
Due to the runup in prices many sellers are sitting on large amounts of equity. During the summer months there is a lot of competition for the house you might want to buy once your home is sold. During these winter months you can likely get your home sold and not have as much competition for the next house that meets your goals.
Think about your house as you evaluate family goals heading into the new year. This might be the year that you can hit your real estate goals and starting now is a great time. The Burks Team offers a free market analysis to determine how much equity you have in your home and if your goals are achievable faster than you think.
2022-11-08T13:20:33-07:002022-11-08T13:41:51-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15053Things to Do in Tyler November 2022
November 5th- Rose City Farmers Market. The market is open from 9:00-12:00 at ETX Brewing Co 221 South Broadway Avenue in Tyler. In addition to the market there is yoga starting at 8:00 by Flow Yoga.
November 5th- 3rd Annual Whitehouse Car and Truck Show. The car show will be at First Baptist Church at 801 East Main in<img src="https://assets.site-static.com/userfiles/3349/image/downtown.jpg" width="300" height="400" alt="Tyler Activities November" title="Tyler Activities November" style="float: right;" /> Whitehouse from 10:00-1:00. There is a $20 fee to register a car with all proceeds going to St Jude Children's Hospital.
November 6th- Beauty and the Beast musical. This is Lindale Theater's fall production and will be at Lindale ISD Performing Arts from 2:00-5:00. Tickets are sold at the door for $5.
November 12th- 2nd Annual Remembrance Run Tyler. This 5k is to remember those we have lost and will be at the Children's Park of Tyler 110 E Dobbs Street in Tyler. The event will be from 8:00-12:00.
November 17th- True Vine Beer & Hymns- True Vine is hosting an opportunity to sing old school hymns and enjoy beautiful fall weather. This will be at the Earl Campbell located from 7:00-9:00.
November 19th- Tyler Comic Con- This will be the 19th and 20th hosted at Cascades Country Club 4511 Briarwood Road in Tyler. If you are into sci-fi, comic books or gaming you can join from 10:00-5:00.
November 24th- The 20th Annual Tyler Turkey Trot 5k- This will be hosted at Racquet and Jog on South Broadway in Tyler. The kids race starts at 8:30 and the 5k starts at 9:00.
2022-11-01T07:30:00-07:002022-11-01T08:41:01-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15459Saving for a Home Purchase<img src="https://assets.site-static.com/userfiles/3349/image/buying_a_home_tyler_tx.jpg" width="750" height="410" alt="Buying a home Tyler TX" title="Buying a home Tyler TX" style="font-size: 17px;" />
When looking at your home purchase saving up the down payment might seem like a daunting task. The good news is that you might not need to save as much as you think and knowing what to save can help you set a goal. The Burks Team is here to help with your Tyler home purchase and provide customized guidance in your home search.
Here are the things you should expect in bringing money for your home purchase.
1. Down Payment
The down payment is usually the first thing buyers think of when saving up for a home. Knowing how much to save for a down payment is a key first step. Every buyer has a different situation but one of the largest misconceptions that buyers have is that you need a large 20% down payment to purchase.
That is not the case! There are common loan programs that allow buyers to purchase with 3% down and in some cases no money down.<br />
The Burks Team is here to help go over what programs are best for your families situation. Sometimes a lower down payment might be the best option even if you have money to put down.
2. Closing Costs
One item that buyers can overlook is closing costs. Closing costs typically range from 2-3% but can change depending on credit and the lender.<br />
The lender that you go with can have a huge impact on the closing costs. Often lenders advertise low interest rates but they charge a lot upfront to get that rate. Working with a top real estate agent like the Burks Team can help get you with a lower cost lender.
3. Earnest Money
You will need to deposit earnest money with the title company once you have a home negotiated. You can think of this like a security deposit on your home purchase. The typical home purchase in the Tyler area has about 1% of the purchase price in earnest money.
The good news is that you do not have to plan earnest money as a separate expense. The earnest money is credited back to you assuming you end up closing on your house. It is just part of the process to give the seller some security that you are a serious buyer.<br />
Bottom Line
If saving up for a down payment is a concern don't wait until you are ready to buy to reach out. The Burks Team is here to help and there might be different options that can help lower the amount of money you need at closing.
2022-10-31T07:24:07-07:002022-10-31T08:36:57-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15330Best Outdoor Activities in Tyler
<img src="https://assets.site-static.com/userfiles/3349/image/Tyler_Outdoor_Activities.png" width="572" height="457" alt="Tyler Outdoor Activities" title="Tyler Outdoor Activities" style="font-size: 17px;" />
One of the great things that makes <a href="https://www.tylerhousehunters.com/tyler/" title="Tyler Real Estate">Tyler</a> and East Texas a great place to live is that there are quite a few options for outdoor recreation. Tyler is a great place to relocate if you are looking for outdoor activities that you cannot find in a larger city.
There are a lot of options when selecting a city in Texas to live in and outdoor living can be a large deciding factor. Tyler offers a variety of options from beautiful lakes, park options, hiking trails and more. Here are some of the most popular outdoor activities to enjoy in the Tyler area.
Water Recreation in Tyler
Water Recreation in the Tyler Area
<a href="https://www.tylerhousehunters.com/lake-tyler-real-estate/" title="Lake Tyler Real Estate">Lake Tyler</a>
<a href="https://www.tylerhousehunters.com/lake-palestine/" title="Lake Palestine Real Estate">Lake Palestine</a>
Lake Jacksonville
Splash Kingdom Water Park
Pine Cove Christian Camps
Camp Tyler
The summer time in Tyler is generally hot but one thing that makes summer enjoyable in East Texas is the opportunity to cool off. All ages can find a water activity from great fishing, boating on one of the many lakes or even cooling off in several of our local water parks.
Several parks located around Tyler have splash pads that are open to the public for kids to cool off on hot summer days and get out from behind screens.
East Texas is covered in lakes and has an abundance of water with fishing for bass and catfish. Lake Fork to the north of Tyler offers some of the best largemouth bass fishing around. Lake Tyler has recreational opportunities to rental stand up paddle boards. Tyler State Park offers gear rentals for fishing, kayaking, boating and more.
Tyler Area Trails and Hiking
Trails in Tyler
Faulkner Park
Tyler State Park
Legacy Trail
South Tyler Trails
Rose Rudman
Camp Ford Trail
While East Texas by no means has mountain hiking there are a lot of great options to get outdoors with your family. The best place to get out into nature is Tyler State Park which is highlighted by a 64 acre spring fed lake. The park features over 13 miles and is a great place to explore during the Spring and Fall.
For those looking to stay closer into the city Faulkner Park provides a beautiful way to explore while being right in the middle of South Tyler. The park offers a 5.6 miles loop trail just off of Broadway and Cumberland Road in South Tyler. The trail is also a popular area for mountain biking.
If you are just looking to get out for a walk, job or bike the City of Tyler has an ever expanding trail system through the city. The Rose Rudman and South Tyler trail system has miles of paths running along Mud Creek in Tyler. The recently completed Legacy Trail runs along Old Jacksonville highway from Fresh by Brookshire's down to Gresham. The trail is currently undergoing an expansion towards the Tyler Rose Garden.
Parks in Tyler
Tyler Area Parks
Bergfeld Park
Children's Park
Faulkner Park
Fun Forest Park
Golden Road Park
Lindsey Park
Just within the city limits of Tyler there are 28 public parks and 60 miles of trails encompassing over 1000 acres that are available to the public.
Above are just a few of those 28 parks and they offer hiking opportunities, trails, tennis, baseball, soccer facilities and more. Tyler has some top of the line little leagues facilities that routinely hold large baseball tournaments with teams traveling from around the area.
Additional Outdoor Activities in Tyler
Other <a href="https://www.tylerhousehunters.com/area-resources/things-to-do-in-tyler/" title="Things to Do in Tyler TX">Outdoor Activities</a>
Caldwell Zoo
Tyler Rose Garden
Fresh 15k Road Race
Tiger Creek Animal Sanctuary
Cherokee Trace Drive-Thru Safari Park
Tyler offers some other great options for outdoor fun. One of the highlights of our city is the Caldwell Zoo. The zoo features over 3,000 animals on 125 acres right near Downtown Tyler. If you are into running Fresh by Brookshire's hosts an annual 15k running race in March every year with over 2000 people participating.
Tyler Texas Living
Our outdoor activities are just one of many things that make East Texas a great place to live. We would love the chance to show you everything that is great about living in Tyler. Our site offers the latest listings in real time or you can reach us at 903-561-2600 to talk about making your move to East Texas a reality.
2022-10-24T11:23:18-07:002022-10-25T09:25:51-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15286East Texas Housing DemandData on Housing Supply, Demand and What it Means for Your Home Search
<img src="https://assets.site-static.com/userfiles/3349/image/Tyler_TX_Neighborhood_Aerial.jpg" width="750" height="410" alt="Tyler TX Real Estate Supply" title="Tyler TX Real Estate Supply" /><br /><br />
The last couple of years there has been a massive imbalance of buyers and sellers leading to the hottest real estate market that Tyler and Longview have ever seen. Over the last couple of months the supply and demand balance has changed rapidly both nationwide and in East Texas.
This chart shows what is happening with the number of showings and the number of active listings. You can see there has been a pretty large shift from last year.
<img src="https://assets.site-static.com/userfiles/3349/image/Housing_Supply_and_Demand_Tyler.png" width="960" height="720" alt="East Texas Real Estate Demand" title="East Texas Real Estate Demand" />
Higher interest rates have caused a cooling of buyer demand and moderated the market quickly towards a balanced market. The showing data is from a report from a company called Showing Time. We use their state of the art technology to keep our seller's informed about showings and feedback on every listing.l
The green chart shows a pretty large increase in the number of active listings. This means the average Tyler and Longview home is having to compete harder for showings and online views.
If I am buying a home what does this mean for me?
This means that you certainly have more options to look at than you did a few months ago. The last couple of years there was almost no homes available and buyers had to basically just buy the first home that close to fit their criteria. Now you have the option to find a better home that fits your needs. The Burks Team has been around in Tyler for over 25 years and gone through several shifting markets. We can use this expertise to negotiate the best deal on your behalf. Before you start your search you can get tips on getting a great mortgage rate <a href="https://www.tylerhousehunters.com/blog/items-that-impact-your-mortgage-rate/" title="Tyler TX Mortgage Rate">here</a>.
If I am selling a home what does this mean for me?
The good news is that home inventory is still at near all time lows! The Burks Team is here to help you price the home right so that it can get sold for top dollar in a slowing market. Homes are still selling for a huge premium over what they were just a few years ago. We recently wrote more details on <a href="https://www.tylerhousehunters.com/blog/selling-your-home-in-todays-market/" title="Selling Tyler TX Real Estate">selling your home</a> in this market.
Get in Touch
The Burks Team has operated through shifting markets several times in the Tyler TX market. We know what it takes to get a buyer and seller together with a winning solution.
2022-10-19T13:23:06-07:002022-10-19T13:39:53-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15232October Real Estate Update with New Listings Video<a href="https://youtu.be/T-i4y4ym0cA?si=BR-QyU71MeoVmT_P" target="_blank"><img src="https://assets.site-static.com/userfiles/3349/image/Screenshot_2024-01-23_104053.png" width="891" height="496" alt="East Texas radio" /></a>
This week on House Hunters Radio the Burks Team is hosted by Rebecca Burks and Aaron Burks. They discuss the rapidly shifting real estate market and what it means for you as a consumer. The Burks Team gives up to date housing market statistics for the Tyler TX market. Also, they discuss hot new listings in <a href="https://www.tylerhousehunters.com/homes-for-sale-tyler-tx/" title="Tyler TX Home Search">Tyler</a>, <a href="https://www.tylerhousehunters.com/homes-for-sale-chandler-tx/" title="Homes in Chandler TX">Chandler</a>, the <a href="https://www.tylerhousehunters.com/azalea-district/" title="Azalea District Real Estate">Azalea District</a>, <a href="https://www.tylerhousehunters.com/oak-creek/" title="Oak Creek Real Estate">Oak Creek</a> and many more. If you are in the market for a home don't miss this chance to find out about new East Texas listings before they hit the market.2022-10-18T13:13:29-07:002024-01-23T10:50:02-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15162Selling Your Home in Todays MarketThe Difference Selling in Todays Real Estate Market
<img src="https://assets.site-static.com/userfiles/3349/image/Cambridge_Bend_Home_for_Sale.JPG" width="631" height="415" alt="Tyler TX Real Estate" title="Tyler TX Real Estate" /><br /><br />
The latest news about the real estate market might have you pausing and asking if this is the right time to sell? Even though the market is going through a cooling phase this is still a historically good time to sell. The Burks Team can help you make the best decision about your Tyler or Longview area house in the current market.
There are still very few homes on the market.
The supply of homes on the market is still low in comparison to a "normal" market. As you can see below the supply of homes on the market is still very low in comparison to a few years ago:
<img src="https://assets.site-static.com/userfiles/3349/image/Housing_Supply.png" width="960" height="720" alt="Housing Supply" title="Housing Supply" />
You can see that while housing supplies are up from the insane real estate market last year they are still down significantly from what was still a seller's market in 2019. Basically we are normalizing to pre-COVID numbers but the market is still short on housing.
What is the impact for a seller in Tyler and Longview? When there are not many homes on the market buyers do not have a lot of options. This makes your home more in demand which leads to a higher price and less time on the market.
Time on the Market.
The number of days on market for a home has been creeping up over the last few months. The chart below shows this but also shows that homes are still selling at a very rapid pace in comparison to previous years:
<img src="https://assets.site-static.com/userfiles/3349/image/Home_Days_on_Market.png" width="960" height="720" alt="Home Days On Market" title="Home Days on Market" />
As you can see the current market is still significantly better than pre-COVID and homes are still selling in almost record time.
What is the impact for a seller in Tyler and Longview? When selling a home time on the market is one of the most important things. Nobody wants to keep their house clean for months to impress home buyers. Also, statistics show that homes selling within the first few weeks get closer to asking price than homes that sit for a long period of time.
Demand has fallen but back to a normal pace
Mortgage rates have had a damper on demand but it has taken demand back down to a historically normal level. You can see below that the number of offers on an average listing has returned to a normal level:
<img src="https://assets.site-static.com/userfiles/3349/image/Tyler_TX_Home_Offer.png" width="960" height="720" alt="Tyler TX Home Offer" title="Tyler TX Home Offer" />
You can see the number of offers received is right in line with what we were seeing in 2018, 2019 and early 2020. The frenzy created with low interest rates has calmed down but this is still a good time to look at selling.
What is the impact for a seller in Tyler and Longview? There is still demand to get your home sold for a really good price. You likely will not have a massive bidding war but values are still at an all time high.
The Burks Team would love to help get your East Texas home sold. We are here to help you in making a decision if selling is right for your family in this changing market.
2022-10-14T11:06:00-07:002022-10-14T11:28:08-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15145Items that Impact Your Mortgage Rate
<img src="https://assets.site-static.com/userfiles/3349/image/Homebuyer_Tyler_TX.jpg" width="750" height="410" alt="Homebuyer Tyler TX" title="Homebuyer Tyler TX" /><br /><br />
The goal of most East Texas homebuyers we meet with is to secure the best rate possible before they purchase. Mortgage rates had been at historic lows for the last few years but have risen dramatically recently. This makes getting the best rate possible even more of a priority for our Tyler and Longview buyers.
There are a few items that you can focus on if you want to secure the best mortgage rate around. In Tyler and Longview we recommend Legacy Mortgage to make sure you get the best rate after looking over these tips.
Credit Score
The biggest impact on your interest rate will be your credit score. Freddie Mac <a href="https://myhome.freddiemac.com/buying/understanding-your-credit" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“When you build and maintain strong credit, mortgage lenders have greater confidence when qualifying you for a mortgage because they see that you’ve paid back your loans as agreed and used your credit wisely. Strong credit also means your lender is more apt to approve you for a mortgage that has more favorable terms and a lower interest rate.”
Your credit score not only impacts your interest rate but can also impact your ability to buy a home at all. A good first step in the homebuying process is to check your credit on a free service like Credit Karma to see if there are any items you need to clean up.
Loan Type
When it comes to getting a loan there are many different options. The rate you are charged can come down to what rates are doing for that particular loan type. FHA rates do not have the same interest as a conventional loan. The Consumer Financial Protection Bureau (CFPB) <a href="https://www.consumerfinance.gov/about-us/blog/7-factors-determine-your-mortgage-interest-rate/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer, and loan types have different eligibility requirements. Rates can be significantly different depending on what loan type you choose.”
The Burks Team is here to help go over what the different loan options are and which one is best in your individual scenario. Every family has a different situation and we love helping buyers walk through their options.
Term of the Loan
The length of the loan you take out also has a big impact on the interest. If you are able to afford the longer payment of a shorter term often you can save thousands of dollars by opting for a shorter loan term. Freddie Mac <a href="https://myhome.freddiemac.com/blog/homeownership/beginners-guide-home-loans" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“When choosing the right home loan for you, it’s important to consider the loan term, which is the length of time it will take you to repay your loan before you fully own your home. Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan.”
Make sure you check out of the options available to see if you can save on interest and pay down your loan faster.
Down Payment Amount
The down payment amount can have some impact on your interest rate. Generally it does not have the largest impact of these items but when we are in a high interest rate environment every amount counts on your interest. The CFPB <a href="https://www.consumerfinance.gov/about-us/blog/7-factors-determine-your-mortgage-interest-rate/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“In general, a larger down payment means a lower interest rate, because lenders see a lower level of risk when you have more stake in the property. So if you can comfortably put 20 percent or more down, do it—you’ll usually get a lower interest rate.”
Ask your loan officer if putting more money down can help out your interest rate. You might find out that slightly increasing your down payment can make a big impact.
We are here for you!
Getting a mortgage is a complex process. There is nothing more we love than helping homebuyers walk-through this process and answer questions. We would love to have a consultation to answer any questions about your East Texas home purchase.
2022-10-13T11:46:00-07:002022-10-13T11:59:57-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15051Buying a Home- House Hunters Radio [Video]This week on House Hunters Radio the Burks Team gives our weekly update on stats in the Tyler and Longview real estate markets. The market is quickly changing and you can get the most up to date information on the local real estate market. We focus on breaking down the steps you need to take if you are considering buying a home. Derek Jones with <a href="https://txhomeloans.com/" title="Home Loans Tyler TX" target="_blank">Legacy Mortgage</a> also joins the program and goes over a unique program where you can have reduced interest in the first few years of owning a home. This is a great program especially if you have been waiting on a home purchase due to the recent rise in interest rates. 2022-10-10T10:12:00-07:002024-01-23T10:39:06-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:15027Benefits of HomeownershipWhat are the benefits of homeownership?
<img src="https://assets.site-static.com/userfiles/3349/image/Home_Tyler_TX_Aerial.jpg" width="750" height="410" alt="Homes in East Texas" title="Homes in East Texas" /><br /><br />
Recently we have had a cooling housing market and an increase in interest rates leading some people to ask: should I still consider buying a home this year? The current situation might looks like it has a long of challenges but if buyers have a long-term perspective there are a lot of benefits to buying a home now.
If you look at people who bought a home 20 years ago or even 5 years ago very few of them would regret that decision. Why is that? It is because the equity gain associated with real estate is one of the largest indicators of long term wealth.
The National Association of Realtors (NAR) <a href="https://www.nar.realtor/research-and-statistics/research-reports/metro-area-housing-wealth-gains" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“Home equity gains are built up through price appreciation and by paying off the mortgage through principal payments.”
Below is some information looking back on what has happened over the last few years and decades.
Home Price Growth Over Time
Home price growth has slown down this year but below you can see just how much homeowners have benefited over the last 5 years.. This map draws data from the Federal Housing Finance Agency (FHFA) to give you a good idea of the impact home price growth can have on your net worth.
<img src="https://assets.site-static.com/userfiles/3349/image/Home_Prices_Last_5_Years.png" width="960" height="720" alt="Home Price Growth Tyler" title="Home Price Growth Tyler" />
You can see that percentage wise home prices nationwide grew 63.5% with Texas staying right around the national average which has been great news for Tyler and Longview homeowners.
The last chart gave you a good idea of what can happen over a short period of time as a homeowner. If you have a longer time horizon the financial impact is even greater:
<img src="https://assets.site-static.com/userfiles/3349/image/Home_Prices_Last_20_Years.png" width="960" height="720" alt="Home Buying Tyler TX" title="Home Buying Tyler TX" />
Over a 30 year span home prices rose by 290%! Texas outpaced the nationwide average with a gain of 333% which means Tyler and Longview homeowners had even more benefit.
Home prices do vary from state to state but nationwide this impact has been felt in every state. Looking back anybody who purchased a home in the Tyler or Longview areas had made huge gains over the last few years.
Even though the market has been cooling, <a href="https://www.simplifyingthemarket.com/2022/09/22/what-experts-say-will-happen-with-home-prices-next-year/?a=874142-6f3de90aa8bea3fde2bcb907cc5bedb3" title="experts say" target="_blank" rel="noopener noreferrer">experts still say</a> home prices are still expected to rise nation wide in 2023. That means that in most markets it is still looking like there will be increases in home prices even if they are not increasing at the rapid pace of the last couple of years.
The other option to buying is to lease a home and there are definitely situations where you should be looking to rent. The biggest downside to renting is that there is no chance at a long term financial gain. The only person making a long term financial gain is the landlord.
Bottom Line
The shifting market should not deter you from your home purchase if you have a long term horizon. We would love to help with your home search and give you up-to-date information on the exact area you are searching in. You can connect with The Burks Team at 903-561-2600
2022-10-07T09:46:00-07:002022-10-10T09:17:11-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:14984Waiting for Interest Rates to Drop?Waiting for Rates to Drop?
<img src="https://assets.site-static.com/userfiles/3349/image/percentage.jpg" width="750" height="410" alt="Mortgage Rates Tyler TX" title="Mortgage Rates Tyler TX" /><br /><br />
Mortgage rates have <a href="https://www.freddiemac.com/pmms/archive" title="increased significantly" target="_blank" rel="noopener noreferrer">increased significantly</a> in recent weeks. That means you probably have a decision to make on whether you should buy your East Texas home now or wait for rates to calm down. The Burks Team is here to help you make an educated decision on what to do with the crazy interest rate market.
The Impact of Rising Mortgage Rates
As mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can comfortably afford. Here’s how it works.
We will work under the assumption that you want to buy a $400,000 home (the average sold price for a home in Smith County is about $352,000). If you’re trying to shop at that price point and keep your monthly payment about $2,500-2,600 or below, the chart below will give you a good idea of the impact of interest rates. <img src="https://assets.site-static.com/userfiles/3349/image/payment_graph.png" width="960" height="720" alt="Interest Rate Chart" title="Interest Rate Chart" />
As the chart shows, as rates go up, the amount you can spend and stay within your budget is greatly impacted by interest rates. That’s why it’s important to work with an expert, like The Burks Team, to guide you through you East Texas real estate purchase.
Are Mortgage Rates Going To Go Down?
This leads to the question of whether you should pause your home shopping to wait on interest rates to come down. Realtor.com <a href="https://www.realtor.com/news/trends/column-homebuyers-have-hard-the-bad-news-heres-the-good/" title="says" target="_blank" rel="noopener noreferrer">says</a> this about where rates could go from here:
“Many homebuyers likely winced . . . upon hearing that the Federal Reserve yet again boosted its short-term interest rates by three-quarters of a percentage point—a move that’s pushing mortgage rates through the roof. And the already high rates are just going to get higher.”
If you are waiting for interest rates to drop then you might be waiting for some time.
Inflation has impacted the rental market as well so going the rental option might not help to offset the higher interest environment. As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), <a href="https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-september-15-2022" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“There is no doubt that these higher rates hurt housing affordability. Nevertheless, apart from borrowing costs, rents additionally rose at their highest pace in nearly four decades.”
This means that renters and homeowners are in the same situation and that is that the cost of housing has gone up across the board. In either option this means housing expense is going to be higher. Homeownership leads to an equity gain over time and renting just cannot offer the same befenfit. Which option makes the most sense for your family?
Conclusion
You need to figure out what the best option is for your family. We would love to connect for a free consultation to discuss what your options are to buy a home in Tyler or Longview.
2022-10-05T08:33:00-07:002022-10-05T14:42:58-07:00Ben Burkstag:tylerhousehunters.com,2012-09-20:14923Get Your Home Ready to Sell in FallHow To Prep Your House for Sale This Fall
<img src="https://assets.site-static.com/userfiles/3349/image/South%20Tyler%20Home.jpg" width="750" height="501" alt="South Tyler Home for Sale" title="South Tyler Home for Sale" /><br /><br />
The <a href="https://www.simplifyingthemarket.com/2022/09/14/is-the-real-estate-market-slowing-down-or-is-this-a-housing-bubble/?a=874142-6f3de90aa8bea3fde2bcb907cc5bedb3" title="housing market" target="_blank" rel="noopener noreferrer">housing market</a> in East Texas is way different than it was just a few months ago. And if you’re thinking about <a href="https://www.simplifyingthemarket.com/2022/09/21/top-reasons-homeowners-are-selling-their-houses-right-now/?a=874142-6f3de90aa8bea3fde2bcb907cc5bedb3" title="selling your house" target="_blank" rel="noopener noreferrer">selling your house</a>, that may leave you wondering what you need to do differently as a result. The answer is simple. Taking the time upfront to <a href="https://www.simplifyingthemarket.com/2022/09/12/getting-your-house-ready-to-sell-work-with-an-agent-for-expert-advice/?a=874142-6f3de90aa8bea3fde2bcb907cc5bedb3" title="prep your house" target="_blank" rel="noopener noreferrer">prep your house</a> appropriately and create a solid plan can help bring in the greatest return on your investment. The Burks Team is here with advice to help you get the most money in the shortest amount of time when you sell your home.
Here are a few simple tips to make sure you maximize the sale of your house this fall.
1. Get the Price Right
One of the first things buyers will notice is the price of your house. That’s because the price sends a message to home shoppers. Pricing your house too high to begin with could put you at a disadvantage by discouraging buyers from making an offer. On the flip side, pricing your house too low may make buyers worry there’s some underlying issue or something wrong with the home.
Your goal in <a href="https://www.simplifyingthemarket.com/2022/08/09/selling-your-house-your-asking-price-matters-more-now-than-ever/?a=874142-6f3de90aa8bea3fde2bcb907cc5bedb3" title="pricing your house" target="_blank" rel="noopener noreferrer">pricing your house</a> is to gain the attention of prospective buyers and get them to make an offer. And with price growth and <a href="https://www.simplifyingthemarket.com/2022/09/19/will-my-house-still-sell-in-todays-market/?a=874142-6f3de90aa8bea3fde2bcb907cc5bedb3" title="buyer demand" target="_blank" rel="noopener noreferrer">buyer demand</a> moderating, as well as a greater <a href="https://www.simplifyingthemarket.com/2022/08/25/why-you-may-want-to-start-your-home-search-today/?a=874142-6f3de90aa8bea3fde2bcb907cc5bedb3" title="supply of homes" target="_blank" rel="noopener noreferrer">supply of homes</a> available for sale, pricing your home appropriately for where the market is today has become more important than ever before.
But how do you know that perfect number? Pricing your house isn’t a guessing game. It takes skill and expertise. If you are in the Tyler or Longview area, The Burks Team has sold thousands of homes and has the expertise you need. In other areas we have some great agents that we have worked with all over the country and can put you in touch with a local market expert.
2. Keep It Clean
It may sound simple but keeping your house clean is another key to making sure it gets the attention it deserves. As realtor.com says in the <a href="https://www.realtor.com/advice/sell/home-selling-checklist-things-to-do-before-selling/" title="Home Selling Checklist" target="_blank" rel="noopener noreferrer">Home Selling Checklist</a>:
“When selling your home, it’s important to keep everything tidy for buyers, and you never know when a buyer is going to want to schedule a last-minute tour.”
Before each buyer visits, assess your space and determine what needs your attention. Wash the dishes, make the beds, and put away any clutter. Doing these simple things can reduce potential distractions for buyers.
For more tips, check out <a href="https://www.simplifyingthemarket.com/2022/09/23/fall-home-selling-checklist-infographic/?a=874142-6f3de90aa8bea3fde2bcb907cc5bedb3" title="this checklist" target="_blank" rel="noopener noreferrer">this checklist</a> for preparing your house for sale. Ultimately an agent is your best resource for tailored advice, but this list can help get you started.
3. Help Buyers Feel at Home
Finally, it’s important for buyers to see all the possible ways they can make your house their next home. An easy first step to create this blank canvas is removing personal items, like pictures, awards, and sentimental belongings. It’s also a good idea to remove any excess furniture to help the rooms feel bigger and make sure there’s ample space for touring buyers to stand and look at the layout.
If you’re unsure what should be packed away and what can stay, consult your trusted real estate advisor. Spending the time on this step can pay off in the long run. As a <a href="https://www.nar.realtor/blogs/styled-staged-sold/why-home-staging-inspires-the-best-prices-in-any-housing-market" title="recent article" target="_blank" rel="noopener noreferrer">recent article</a> from the National Association of Realtors (NAR) explains:
“Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your market. The right arrangements can move you into a higher price-point and help buyers fall in love the moment they walk through the door.”
Bottom Line
Selling a house requires prep work and expertise. If you’re looking to sell your house this season, let’s connect so you have advice on how to get it ready to list, how to help it stand out in today’s shifting market, and more.
2022-10-04T06:00:00-07:002022-10-04T06:23:43-07:00Ben Burks