Joanna England

Manufacturing jobs posted higher numbers, and wages increases provided high points in the June 2018 report from the Bureau of Labor Statistics.

When it comes to buying a home in hot Texas markets, what’s holding a lot of buyers back — besides inventory — is income. With so much of a recent graduate’s paycheck going toward exorbitant student loans, and with many families making the tough choice of forgoing homeownership so one parent can stay home with young children, income stagnation is a huge issue. (more…)

Economy, Labor, wages

mortgages

06/25/18 9:00am

The Mortgage Report: A Fed Leadership Shakeup Could Mean More Interest Rate Increases

News last week was a little mixed, but now that New York Fed chair William Dudley has retired, the impact of his departure is being felt throughout the market. However, a new report from the Mortgage Bankers Association shows good news for our strong market — home purchase applications are posting gains.

With a quickly changing market and so many variables at play, consult our most-trusted mortgage expert — Bob Johnson (AKA BobMortgage) the senior mortgage adviser at the nation’s oldest private lender, Wallick & Volk. Should you lock or float? Find out today in the Mortgage Report on CandysDirt.com

Bob Johnson, Bob Mortgage, CandysDirt, Mortgage Report

apartment leasing

05/11/16 4:24pm

100 Percent of 2015 Midland-Odessa Apartment Construction Was High-End, Report Says

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According to RentCafe, all of the apartments completed in Midland-Odessa for 2015 were high-end units.

New affordable housing is hard to find in Midland-Odessa, as a recent study from RentCafe shows that 100 percent of the new apartments completed in 2015 were high-end units. Nationally, 75 percent of all apartments that came on the market last year were priced at luxury levels.

Considering how much the new construction in the single-family market is lagging, the limited number of new affordable rentals could be eroding would-be homeowners’ future buying power.

Affordable Apartments in Midland-Odessa, affordable housing in midland, Affordable rent in midland, apartments in Midland-Odessa, Midland apartments, Midland-Odessa Apartments, Odessa apartments

home selling tips

02/05/16 2:26pm

Midland Real Estate: 6 Ways to Maximize Your Home’s Value on a Tight Budget

We all know that a little DIY, a few renovations, and some artful staging are great ways to get your home noticed (and sold) fast, but what if you just don’t have the budget to do all that? Are you resigned to waiting around, twiddling your thumbs until the right desperate buyer comes in? Will you be forced to lower your asking price just to gain a little interest?

Fortunately, a tight budget doesn’t always mean a slow sales process, especially in the Midland-Odessa real estate market. You can still maximize your home’s value, up its appeal and get it noticed — all without a huge investment. You just have to be a little more creative about it.

Are you looking to sell your home, but don’t have a whole ton to pour into prepping it? Here are a few ways you can increase its value without a lot of cash:

Economy

02/01/16 2:37pm

NerdWallet Names Midland One of The Best Cities For Young Entrepreneurs

Photo: Midland Convention and Visitor’s Bureau

It’s not all about San Francisco and New York City, says NerdWallet, the website that analyzed American metropolitan areas and came up with a list of the top 10 cities for young entrepreneurs. The list includes some of the spots you’d expect: Denver, Colo.; Seattle, Wash.; and Austin, Texas.

But we were happily surprised to see Midland on the list, ranking No. 8 above Boston (No. 9) and Fargo, N.D. (No. 10).

So what earned Midland a spot on the list?

Entrepreneurs, Midland Economy, Millennials, Permian Basin, Top 10 list

Economy

12/28/15 1:24pm

Permian Basin Housing Market, Still Reeling From Low Oil Prices, to Slow Further in 2016

Photo: Dan Moyle

Low oil prices might be great at the pump, but they’re causing problems for Midland and Odessa housing markets according to Dr. Jim Gaines, economist at the Real Estate Center at Texas A&M University.

“When your economic base is undergoing that kind of pressure, your local market is going to feel it,” Gaines told the Fort Worth Star-Telegram.

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millennials & real estate

11/19/15 10:47am

Building a Real Estate Business: 4 Ways to Satisfy Your Millennial Clients

More Millennials are buying homes, but are you prepared to serve them?

Millennials may not have been homebuyers in the past, but it seems they’re quickly coming around to the idea – especially if you look at recent stats.

In fact, according to comScore data, 65 percent of Millennials looked at real estate sites or apps in August alone. The reason? For some, it was income increases, for others it was rising rents, great interest rates, and just general unhappiness in their current living situation.

Whatever the cause, it seems Millennials are ready to buy – if only they can find the time to look, the right property and the money for a down payment.

But while they deal with those hurdles, it’s time for the industry – real estate agents in particular – to start preparing for their arrival. Millennials aren’t like the buyers of the past, and they won’t be happy with the traditional hassles of the homebuying process. If you want to please this generation, it’s time to make some changes.

Have a Millennial buyer? Want to make sure you please them? Here are four ways to get it done: