Ruminations

Hey, I was just sitting here searching through some issues on the web, and I got to thinking about Cavuto's early Fox News program that I saw during my workout this morning. He had several real estate guests or, rather, several guests who had some opinions on real estate for the next period of time.

One or two of the guests were of the opinion that some areas were overbuilt with new construction; and that, plus the rising interest rates would, sooner or later, place a pall over the market.

But one of his other guests (I cant' remember who it was)said that the energy with which the economy was running was such that many more people now had much larger incomes, and they're spending it on property! Therefore the real estate market remained a superior vehicle for investing one's money - and would for a long time to come!

We here in Tyler, Texas see it that way.

Is a "Bubble" Imminent?

We keep hearing that "there has to be a bubble soon"! Well, I just don't think so. Tyler, Texas real estate, and East Texas real estate, are still very strong. And interest rates are still low. Could be that a few markets around the country may reach a saturation point in terms of pricing, but not here; not yet.

Some may say that inflation is rising. I think bad management and hurricanes are the reason for recent inflationary pressures. Could be that building materials and oil are solely responsible. Cut people loose from governmental controls and intervention, and those issues will disappear.

As soon as anything decent hits the market here, there are three or four offers on the table very quickly. Lots of folks want to come here from other places. And it looks like we can accomodate them!

Before You Buy!

What Kind of House is Right?
Determine the specifics you want or need in a home.
- What are your day to day and future needs?
- Do you enjoy swinging a hammer?
- Older houses have great charm, but may need updating.
- New homes offer the latest energy efficiency and design features.
- Larger lots can give room for additions and swimming pools.
- A fixer upper can dramatically increase in worth.
- A PUD may have private recreational facilities such as a pool and play parks.
- A condo or town-house will relieve you of yard work and exterior maintenance.
Sit down with your real estate agent and make up a wants and needs list. Knowing your price range, your agent can determine in what neighborhoods or towns to start looking. You may find that you are limited to where you look based on your situation.
There is no sense in wasting your or your agent's time in areas out of your price range.