07/10/18 10:02am

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…)

06/25/18 9:00am

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

05/11/16 4:24pm
Top-15-Emerging-Markets-Midland

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.

(more…)

02/05/16 2:26pm

home value_guardian article

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:

(more…)

02/01/16 2:37pm

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?

(more…)

12/28/15 1:24pm
Midland home prices

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.

Jump to read more:

(more…)

11/19/15 10:47am
Millennial-Homebuyers

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:

(more…)

08/27/15 1:45pm
On Monday, the City of Austin filed suit against the Texas Comptroller's Office over the state's ad-valorem tax system.

On Monday, the City of Austin filed suit against the Texas Comptroller’s Office over the state’s ad-valorem tax system.

The end of sales price non-disclosure might be near, if the suit filed by the City of Austin against the Texas comptroller’s office is any indication. Austin Mayor Steve Adler, who submitted the 10-page suit on Monday, argued that the ad-valorem taxation system is unconstitutional because it isn’t “equal and uniform.”

Texas is one of the few states that, instead of relying for sales figures for tax purposes, employs an appraisal system. However, with skyrocketing values for residential properties in Travis County, commercial valuations haven’t grown nearly so much. It’s becoming a big problem, the suit suggests.

“The lack of sales disclosures has made it nearly impossible for appraisal districts to comply with their statutory and constitutional duty to assess all properties at market value so that taxation is equal and uniform,” the lawsuit states.

(more…)