Tuesday, July 24, 2012
Tyler Homes for Sale ~ 10 Lessons to Learn as the Housing Market Recovers
10 Lessons to Learn as the Housing Market Recovers
10 Lessons to Learn as the Housing Market Recovers
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by Shy Shinalt Tyler Homes Keller Williams Tyler Texas (TX),
Headlines abound: The Housing Bust is over… In June, a survey of economists concluded that housing has hit bottom. homeowners and renters, Americans, and citizens of the world all are sighing with collective relief. The economy and housing values both have cycles. It has been more than eighty years since the difference between the top and the bottom was so great.
As Realtors®, we are relieved that we are at the bottom, but we are realistic with the changes in the market and our work. In the not too distant past, the overwhelming majority of our work was prior to sales agreement, now it can be after. In that same time, most transactions closed. The”fallout rate” was nonexistent. Most sobering is what is now required to get to closing and how many things can derail a transaction for a “willing, ready, and able” buyer.
So we are cautiously engaging the new reality, but first we need to pause. If we do not learn from history, we are bound to repeat it. We do not want to repeat the last ten years. So what are the lessons we should learn? Here are 10 lessons that come to mind:
- The economy cannot recover without housing.
- Everyone needs shelter, but not everyone needs to own their shelter.
- High homeownership rates are important but they must be sustainable.
- Home prices go up and go DOWN.
- The process of purchasing /financing a home is more complicated.
- Sound underwriting of mortgages is critical.
- Home equity should not be used for ordinary living expenses.
- Financial reserves for family, companies, and countries are necessary.
- Homeowners confidence in the economy is directly related the value of their own homes.
- The economy is global.
What lessons did the last decade teach you? We would love to know what you learned from the last cycle.
What is important is that we remember what happened as we prepare to write the future. Most importantly, we should also have a sense of accomplishment that we endured these life lessons.
There are seasons in the weather: spring, summer, fall and winter. So there are in economic cycles. It is great to be at the thaw of winter and the budding of spring.
Shy Shinalt
903.533.8114
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Thursday, July 19, 2012
Monday, July 16, 2012
Monday, July 9, 2012
Tyler Homes Encourages Responsible Water Use in Tyler Texas (TX)
Tyler Home owners may be forced to conserve water this Summer. Read more about this in the following blog provided by Tyler Homes and the Tyler Homes Network
Tyler Encourages Responsible Water Use Tyler remains under voluntary water restrictions to help conserve supplies as another hot Texas summer closes in. The city has been on voluntary restrictions since late March, easing a December order that called for mandatory cutbacks. Tyler Public Works Director Greg Morgan said Tuesday the city is taking this proactive measure to voluntarily conserve water now for later. "The City of Tyler currently remains under step one water conservation measures," Morgan said. Plentiful spring rainfall helped refill East Texas lakes and recharge the soil -- two pluses going into the hot, dry months ahead -- but levels still are below normal. "The Lake Tyler/Lake Tyler East system still remains about 2.5 feet down from a full elevation of 375.5," Morgan said. "As such, it is incumbent upon the customers of Tyler Water Utilities to remain good stewards of our environment and to utilize this natural resource in a responsible manner." Tyler has a very stable, long-term water supply that is projected to last for decades, if people use it responsibly, officials said. Morgan said water production and lake levels are being evaluated on a daily basis, and staff is prepared to adjust conservation measures as needed to conserve.
National Weather Service officials said Tuesday the summer months should be somewhat hotter and drier than normal, but nothing close to the withering conditions of last summer. It is, after all, Texas. "To quote a cliche, on the fourth of July it's going to be hotter than a firecracker," Hydrologist C.S. Ross said this week. For fall, there are indications of a return to El Nino conditions, characterized by cooler, wet weather. In the interim, residents are asked to limit irrigation of landscaped areas to Sundays, Tuesdays and Thursdays if their street address ends in an even number (0,2,4,6,8); or Saturdays, Mondays and Wednesdays if their address ends with an odd number (1,3,5,7,9). Irrigation also should be done between the hours of 10 p.m. and 6 a.m., officials said. Tyler's pumping capacity is about 72 million gallons per day -- 8 million from deep water wells, 34 million from Lake Tyler and Lake Tyler East and 30 million from Lake Palestine. The city of Dallas also has rights to remove water from Lake Palestine but is not yet drawing from that source, officials said. Tyler first began calling for voluntary cutbacks last October. At that time, Lake Tyler was 6.9 feet below spillway levels and Lake Palestine was about 5.9 feet low, records show. Residents are asked to not waste water. Waste is considered the elective use of water, such as washing house windows, sidings, eaves and roof with a hose without the use of a bucket, officials said. Other types of water waste include washing driveways, streets, curbs, gutters and vehicles without a cut-off valve and bucket. External Relations Director Susan Guthrie said residents should check their sprinkler systems to ensure they are appropriately timed and positioned. "When you set your sprinkler systems, make sure they are not watering the streets and sidewalks," she said. Residents also are asked to check for leaking faucets and toilets to help conserve.
Shy Shinalt
Keller Williams Tyler
903.533.8114
www.shyshinalt.com
If you are thinking of buying or selling your Tyler Home contact Shy Shinalt with Keller Williams Tyler for all of your Tyler Homes needs.
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Friday, June 29, 2012
Tyler Homes for sale ~ Tyler Texas homes ~ Must-do's if buyer wants to perform own inspection
Must-do's if buyer wants to perform own inspection
Can you say 'liability waiver'?
By Shy Shinalt, Tuesday, June 26, 2012
DEAR JANETTE: Perhaps you could have the buyer sign a liability waiver stipulating that he will hold you blameless in the event that he is injured during his inspection and that he will pay for anything that is accidentally broken. To ensure that this would be binding, you should obtain a legal form from a lawyer.
Another option is offering to split the cost of a professional home inspection. When compared with the cost of an attorney, it might even be worth it to pay the entire inspection fee.
That aside: If your buyer believes that he is qualified to perform the same evaluation as a professional home inspector, he is very naive. It takes years of full-time inspection work to become truly qualified as a home inspector. If your buyer wants to experience undisclosed defects after the close of escrow, he should go ahead and do his own inspection.
DEAR BARRY: When we purchased our home, the termite inspector found plumbing leaks under the bathroom. But the home inspector did not inspect under the building because there was water on the ground, and he said this would be unsafe. He recommended ground drainage improvements to enable further inspection, but we went ahead without further inspection and bought the property.
That turned out to be a mistake.
Within days of moving in, we had a major sewage backup in the bathrooms. It turns out that we have rusted-out drainpipes and lots of roots in the main sewer line. We believe the sellers knew about these problems but said nothing. What should we do? --Nick
DEAR NICK: If the pest inspector found leaking under the building, he was not deterred by water on the ground. Perhaps the home inspector was too squeamish and should have done the same. Groundwater in a crawl space is an inconvenience for a home inspector, and no one except a small kid enjoys crawling in the mud. But it hardly qualifies as a significant safety hazard.
On the other hand, if the water on the ground was from leaking sewage, the inspector was wise to stay out, and the pest inspector probably should have done the same.
If the seller claims no knowledge of the problem, proving otherwise could be difficult, but it seems unlikely that the plumbing problems just occurred for the first time. Sometimes a neighbor has knowledge of past plumbing problems. This is something to investigate by asking around.
You need to obtain a repair bid from a licensed plumbing contractor. Hopefully, the costs will not be excessive. If repairs are expensive, you should get some legal advice regarding seller liability.
Shy Shinalt
Keller Williams Tyler
903.533.8114
www.shyshinalt.com
Thursday, June 28, 2012
Tyler Encourages Responsible Water Use
Tyler Encourages Responsible Water Use
Tyler Encourages Responsible Water Use Tyler remains under voluntary water restrictions to help conserve supplies as another hot Texas summer closes in. The city has been on voluntary restrictions since late March, easing a December order that called for mandatory cutbacks. Tyler Public Works Director Greg Morgan said Tuesday the city is taking this proactive measure to voluntarily conserve water now for later. "The City of Tyler currently remains under step one water conservation measures," Morgan said. Plentiful spring rainfall helped refill East Texas lakes and recharge the soil -- two pluses going into the hot, dry months ahead -- but levels still are below normal. "The Lake Tyler/Lake Tyler East system still remains about 2.5 feet down from a full elevation of 375.5," Morgan said. "As such, it is incumbent upon the customers of Tyler Water Utilities to remain good stewards of our environment and to utilize this natural resource in a responsible manner." Tyler has a very stable, long-term water supply that is projected to last for decades, if people use it responsibly, officials said. Morgan said water production and lake levels are being evaluated on a daily basis, and staff is prepared to adjust conservation measures as needed to conserve.
National Weather Service officials said Tuesday the summer months should be somewhat hotter and drier than normal, but nothing close to the withering conditions of last summer. It is, after all, Texas. "To quote a cliche, on the fourth of July it's going to be hotter than a firecracker," Hydrologist C.S. Ross said this week. For fall, there are indications of a return to El Nino conditions, characterized by cooler, wet weather. In the interim, residents are asked to limit irrigation of landscaped areas to Sundays, Tuesdays and Thursdays if their street address ends in an even number (0,2,4,6,8); or Saturdays, Mondays and Wednesdays if their address ends with an odd number (1,3,5,7,9). Irrigation also should be done between the hours of 10 p.m. and 6 a.m., officials said. Tyler's pumping capacity is about 72 million gallons per day -- 8 million from deep water wells, 34 million from Lake Tyler and Lake Tyler East and 30 million from Lake Palestine. The city of Dallas also has rights to remove water from Lake Palestine but is not yet drawing from that source, officials said. Tyler first began calling for voluntary cutbacks last October. At that time, Lake Tyler was 6.9 feet below spillway levels and Lake Palestine was about 5.9 feet low, records show. Residents are asked to not waste water. Waste is considered the elective use of water, such as washing house windows, sidings, eaves and roof with a hose without the use of a bucket, officials said. Other types of water waste include washing driveways, streets, curbs, gutters and vehicles without a cut-off valve and bucket. External Relations Director Susan Guthrie said residents should check their sprinkler systems to ensure they are appropriately timed and positioned. "When you set your sprinkler systems, make sure they are not watering the streets and sidewalks," she said. Residents also are asked to check for leaking faucets and toilets to help conserve.
Shy Shinalt
Keller Williams Tyler
903.533.8114
www.shyshinalt.com
Tyler Encourages Responsible Water Use Tyler remains under voluntary water restrictions to help conserve supplies as another hot Texas summer closes in. The city has been on voluntary restrictions since late March, easing a December order that called for mandatory cutbacks. Tyler Public Works Director Greg Morgan said Tuesday the city is taking this proactive measure to voluntarily conserve water now for later. "The City of Tyler currently remains under step one water conservation measures," Morgan said. Plentiful spring rainfall helped refill East Texas lakes and recharge the soil -- two pluses going into the hot, dry months ahead -- but levels still are below normal. "The Lake Tyler/Lake Tyler East system still remains about 2.5 feet down from a full elevation of 375.5," Morgan said. "As such, it is incumbent upon the customers of Tyler Water Utilities to remain good stewards of our environment and to utilize this natural resource in a responsible manner." Tyler has a very stable, long-term water supply that is projected to last for decades, if people use it responsibly, officials said. Morgan said water production and lake levels are being evaluated on a daily basis, and staff is prepared to adjust conservation measures as needed to conserve.
National Weather Service officials said Tuesday the summer months should be somewhat hotter and drier than normal, but nothing close to the withering conditions of last summer. It is, after all, Texas. "To quote a cliche, on the fourth of July it's going to be hotter than a firecracker," Hydrologist C.S. Ross said this week. For fall, there are indications of a return to El Nino conditions, characterized by cooler, wet weather. In the interim, residents are asked to limit irrigation of landscaped areas to Sundays, Tuesdays and Thursdays if their street address ends in an even number (0,2,4,6,8); or Saturdays, Mondays and Wednesdays if their address ends with an odd number (1,3,5,7,9). Irrigation also should be done between the hours of 10 p.m. and 6 a.m., officials said. Tyler's pumping capacity is about 72 million gallons per day -- 8 million from deep water wells, 34 million from Lake Tyler and Lake Tyler East and 30 million from Lake Palestine. The city of Dallas also has rights to remove water from Lake Palestine but is not yet drawing from that source, officials said. Tyler first began calling for voluntary cutbacks last October. At that time, Lake Tyler was 6.9 feet below spillway levels and Lake Palestine was about 5.9 feet low, records show. Residents are asked to not waste water. Waste is considered the elective use of water, such as washing house windows, sidings, eaves and roof with a hose without the use of a bucket, officials said. Other types of water waste include washing driveways, streets, curbs, gutters and vehicles without a cut-off valve and bucket. External Relations Director Susan Guthrie said residents should check their sprinkler systems to ensure they are appropriately timed and positioned. "When you set your sprinkler systems, make sure they are not watering the streets and sidewalks," she said. Residents also are asked to check for leaking faucets and toilets to help conserve.
Shy Shinalt
Keller Williams Tyler
903.533.8114
www.shyshinalt.com
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