HOUSING SLUMP?

No, no. Read this from MSN News today:

Sales of new homes perked up in July, while factory orders took off, raising hopes that the economy can safely weather the financial turmoil that has shaken Wall Street.
The Commerce Department reported this morning that new-home sales rose 2.8% in July, after falling 4% in June. The increase lifted sales to a seasonally adjusted annual rate of 870,000 units.
A second report showed that orders to factories for big-ticket goods jumped 5.9% in July, the most in 10 months.
Both reports were better than analysts' forecasts -- that home sales would fall and that factory orders would show just a 1% gain.

The south and southwest were leading the way again. Tyler Texas real estate is still strong!

HOUSING STARTS

This from the Wall Street Journal:

Housing starts decreased (in July) by 6.1% to a seasonally adjusted 1.381 million annual rate, after rising 2.1% in June to 1.470 million, the Commerce Department said. Originally, Commerce reported June starts 2.3% higher at 1.467 million.
July starts were lower than Wall Street had predicted. The median forecast of 22 economists surveyed by Dow Jones Newswires was a 4.6% drop to a 1.400 million annual rate. It was the lowest level of starts since 1.355 million in January 1997.

So builders are a bit frightened at the tightened credit right now. The Tyler Texas real estate market is similar to the above numbers in fewer starts. The thing is, that you can still buy a lovely two-story, four-bedroom home in Tyler Texas for $189,000! What's not to like?

GOVERNMENT BACKED MORTGAGES

Government backed mortgages are capped at $417,000, so the secondary market isn't keen on buying them. So the high-end properties aren't doing well for those who need to secure loans. Tyler Texas real estate is still very active, but we have an abundance of more expensive properties right now, as many other communities have. There are some excellent buys in and around the city, especially for those who don't need a mortgage, and for those who don't need more than the capped amount. Check it all out on http://www.johncmartin.com/ and email me to find your dream home in Tyler, Texas.

GROWTH IN A DOWN MARKET?

This from MSN Real Estate:

"Of the 100 suburbs most speedily spreading, California has the fastest, Arizona has the biggest and Texas has the most."

Of the 100 fastest growing markets, Texas has 20 of them!! Some of our cities have been hard hit by the mortgage flap that everybody's worried about; but Texas (especially East Texas) is still a very good place to spend your money and expect a good return.