Saturday, January 28, 2012

Keller Williams Tyler office

Are discount brokers good for the seller?

www.shyshinalt.com

Are you really doing the right thing for your seller? Had an agent come to me this morning and we had a discussion on a home she just showed that was listed at a deep discount of 1% to the buyer’s agent. This is becoming more and more prevalent in the market today and while most feel it is a problem I feel it is something that will eventually blow up in the discounters face. After investigating the listing I came to a conclusion that the seller is being taken advantage of. You see our agent did the right thing and showed the home, but in the real world most agents would pass on this showing. I know we should show the home, but really why would another agent base their entire business plan on taking advantage of the entire real estate community? This home has already been on the market 180 days longer than any home in the neighborhood that sold in the last 2 years. Keeping in mind it’s a $550,000.00 home, that could be close to $ 30,000.00 in additional payments and taxes the seller has paid. That would be, ugh, 6% and it’s still not sold. Then take into account what negotiations might be like with a seller who is this “intelligent!” It reminds me of the saying;” a fool and his money are soon parted.” Or as W.C. Fields said, “they were lucky to get together in the first place!” Did the agent do the right thing? Clearly no, but when a seller uses a discount broker, they get what they paid for or dare I say deserve. In this case $30,000.00 in loses so far with no end in sight. http://www.shshinalt.com/

Shy Shinalt

KellerWilliams Tyler

http://www.shyshinalt.com/

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Wednesday, January 25, 2012

Homes for sale in Tyler Texas

http://www.shyshinalt.com/

When it comes to buying and selling the single largest financial investment in most family’s lives, why would you trust just anyone to do it? The goal for most buyers and sellers is to protect their investments. Buyers want to make sure they are buying in an area of good resale and getting the most for their dollars. Sellers want to make sure that they are getting the most money for their investment and they are protected from the legal pitfalls of today’s society. With both concepts in mind, why would you put your livelihood in the hands of someone who is not a professional, someone who may not be familiar with the area or someone you are not certain you can fully trust?

You shouldn't and I certainly don’t want you to!

I pride myself on being your hometown real estate professional resource for all your real estate needs. Being from East Texas, I understand the East Texas market better than others. I strive to make sure you are taken care in every aspect and every step of the way. My objective is to raise the bar as to what you should expect from your agent and ensure that I am fully accountable to you. Open lines of communication, attention to every detail of your buying or selling experience, and going the extra mile are my promises for every client. I believe that you are not just a number, not just a sign, not just a transaction, but a treasured client that has invested a lot of trust in my knowledge and skills. The home buying and selling process requires us to be a team which is why I have carefully selected professionals to assist you in every aspect of your buying or selling expereince so that no detail is left undone.

My goal is to create an expectation from you for future real estate needs that cannot be duplicated and look forward to your repeat business and trust as well as your referals!

I am always receptive and welcoming of your vital and valued feedback. This feedback enables me to consistently assess, re-evaluate and continuously make changes to consistently create a higher level of service. Call me today, I look forward to meeting, serving and getting to know you!

Shy Shinalt

Keller Williams Tyler

http://www.shyshinalt.com/

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Tuesday, January 24, 2012

FHA will keep funding flips

http://www.shyshinalt.com/

FHA will keep funding flips

Waiver for 90-day resales extended through 2012

Image via <a href="http://www.shutterstock.com/gallery-415p1.html">Theresa Martinez </a>/<a href="http://www.shutterstock.com">Shutterstock</a>

For the second year in a row, the Federal Housing Administration is extending a temporary waiver of its "anti-flipping" rule, meaning homebuyers relying on FHA-insured financing will continue to be able to buy homes that have changed hands in the last 90 days.
The waiver is a boon for investors seeking to rehab and flip properties, because it expands the pool of eligible borrowers to include those relying on FHA-backed loans, popular with first-time homebuyers and others who lack the cash to make large down payments.
In extending the waiver through 2012, FHA said all transactions must continue to be arms-length. In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will apply only if the lender can document the justification for the increase in value, FHA said.
FHA instituted the anti-flipping rule in 2003 to protect its mutual mortgage insurance program from losses on homes that were merely flipped, rather than rehabbed. Homes repossessed by Fannie Mae, Freddie Mac, and state- and federally chartered financial institutions were exempt from the rule.
In February 2010, the Obama administration waived the waived the waiting period for resales -- including homes purchased and rehabbed by private investors -- in the hopes of stabilizing home prices and revitalizing communities hit by foreclosures.
It often takes less than 90 days to acquire, rehabilitate and sell properties, the Department of Housing and Urban Development said at the time. Some sellers of rehabbed properties had been reluctant to enter into contracts with FHA buyers because of the cost of holding a property for 90 days, HUD said.

In extending the waiver through 2011, FHA said it insured 21,000 90-day property flip loans worth more than $3.6 billion in 2010 that would otherwise not have qualified for financing.
That number has since grown to nearly 42,000 mortgages worth more than $7 billion on properties resold within 90 days of acquisition.

Shy Shinalt
Keller Williams Tyler
http://www.shyshinalt.com/

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Monday, January 23, 2012

Bankruptcy & buying a new home?

http://www.shyshinalt.com/

I Have Been Through A Recent Bankruptcy And I Have A VA Loan Certificate. What Are My Options For Purchasing A Home?

Q: My family and I are currently renting a home. Our lease will be up this summer. I went through a bankruptcy a couple of years ago due to a failing business in the downswing of the economy. Things are looking up for my family right now. I have a VA Loan certificate,also. What is the negative and the positve of us purchasing a house right now?
–New Journey,
A: Hello -
I recently closed a transaction with a VA buyer, using a VA loan, so I called my lender to give me information to answer your question.
Did your bankruptcy include a foreclosures?
If your bankruptcy did NOT include a foreclosure, after 2 years (after the discharge date) and with good credit after the bankruptcy, and closing funds in the bank, you should be able to get a VA loan. Your lender will pull your Caivers number and if it comes up positive, you’re good. However, if it comes up negative, you cannot get a loan. The type of things that give you a bad Caivers number are foreclosures and any type of default, even student loans.
If your bankruptcy DID include a foreclosure, you will need to wait for 3 years AFTER the SALE DATE. Sometimes your house gets foreclosed on and it takes the bank 1-2 years to sell. You have to wait 3 years AFTER the date the bank actually sells the property.
I hope this information helps, as now is a great time to purchase homes, as prices are historically low AND interest rates are very low too. My recent clients got a 4% fix loan through the VA in January this year. Hopefully you can qualify for a similar loan in your area.
If you don’t know about it already, as a Veteran, you can bank with USAA and use them for VA home loans, home insurance, car insurance, etc. The have a dot.com address. Unfortunately this website does not allow me to give you full names, email addresses, phone numbers, or websites, so I’m not including any of that sort of information because I want to make sure you get this answer.

Shy Shinalt

Keller Williams Tyler

http://www.shyshinalt.com/

Sunday, January 22, 2012

Tyler Home Sales Decrease In December

www.shyshinalt.com

Tyler Home Sales Decrease In December

By CASEY MURPHY
Business Editor

The Tyler area saw a 5.26 percent decline in home sales in December compared to the same time the year before.

There were 198 houses sold in the area last month, compared to 209 units sold in December 2010, according to figures released Thursday from the Greater Tyler Association of Realtors.

The December sales were a 4.8 percent decrease from the 208 houses sold in November.

Mary Smith, RE/MAX broker associate and chairwoman of the Greater Tyler Association of Realtor’s PR Committee, said she believes the decrease in sales could be because of the holiday season.

“I really feel that the holidays come and people do things differently,” she said.

Ms. Smith feels the bigger story is how the Tyler area finished the year.

She said nearly 5 percent more houses were sold in 2011 than in 2010. Tyler also saw a more than 6 percent increase in total dollar volumes last year than in 2010, she added.

Ms. Smith said there were tax credits in 2009 and for part of 2010. And she believes 2011 was a good year because sales in 2011 were “neck and neck” with 2009 without any incentives.

“Home buyers are coming out and exhibiting confidence,” she said.

Ms. Smith said local residents appeared confident in the interest rates, which were “pretty stable” in 2011 and were not worried about them being raised.

The Tyler area also saw a slight decrease in housing costs.

The median home price for December was $129,750, a 0.19 decrease from the median price of $130,000 the year before. Last month’s price was a 13.47 percent decline from November’s $149,950.

The Tyler area’s home inventory stood at 12 months in November, the latest month for which figures from the Real Estate Center at Texas A&M University were available.

That is down from the same time the year before when the inventory was at 13.4 months, and down from 13.3 months in September.

Home inventory is how long based on the past year’s sales rate it would take to clear out existing inventory, with no more homes introduced into the market.

Smith County saw only eight foreclosures in December, five of which were in Tyler, according to RealtyTrac.

Total home sales for Texas in November were up, according to the latest figures from Real Estate Center at Texas A&M University.

The state saw 15,004 homes sold in November, an 8.2 percent increase from the same time the year before, when 13,869 homes were sold in the state. The November totals were also a 2.69 decrease from October.

Texas median home price for November was $147,400, a 0.75 percent increase from November 2010, when it was $146,300, and a 0.61 percent increase from October.

The state’s inventory stood at 6.5 months in November, down slightly from 7.6 months the same time the year before and from 6.9 months in October.

Texas had 8,586 foreclosures in December, according to RealtyTrac

Shy Shinalt
Keller Williams Tyler
www.shyshinalt.com

Friday, January 20, 2012

Keller Williams Tyler Offers Five Questions to Ask Yourself Before Deciding to Buy

Friday, January 20, 2012

www.shyshinalt.com

Perhaps you’ve found a house, or maybe you’ve just started the house hunt, but regardless of where you are in the home-buying process,you need to consider some key questions before you even think about making an offer. Buying a home is a big commitment — financial and otherwise — so take the time to weigh pros and cons.

Here are five questions every home buyer should ask themselves:

Will I own it for at least five years?

The first and most important item you should ask yourself before you consider buying any property is whether you will own it for a long time. People buy property in hopes of increasing wealth and five years is about the break-even point for earning appreciation in value above the buying and selling transaction costs. Therefore, if you don’t plan on holding the property for longer than five years, skip it! Renting a home is NOT necessarily throwing money away. Buying and selling quickly will usually leave you worse off financially than if you just held off on becoming a homeowner.

Do I love the home I want to buy?

One of the second most important items is do you love the property? Real estate should be held for the long term, and loving a property should perpetuate a happy enduring ownership. So don’t buy a property if you don’t love it or at least really like or want that particular property. And don’t buy just “to buy” or if someone tells you it is a good idea. Buy what you want, when you are ready, and buy a home that you will proudly boast about to your friends over the years and years.

Can I afford it?

It is more expensive to own a home than anyone anticipates. Even if the mortgage lender qualifies you for a certain loan amount and property price, you need to make sure YOU can afford it. Lenders don’t generally take into account child care expenses, health care expenses, expensive lifestyles and habits, etc. So make sure that you can comfortably afford your housing payment, still pay your other bills, and still save at least a little more for retirement. Also, if you are not sure of your continued employment situation for any reason, wait until your situation is stable so you can make those mortgage payments.

Is the home in good shape?

Here’s another warning: Fixer uppers rarely sell at a big enough discount to compensate for all the work that needs to be done. The cost of construction and property rehabilitation is outrageous, and unless you are a contractor, it almost undoubtedly will cost much more than you anticipate. So leave the “needs TLC” or “fixer-uppers” to the contractors. You want to buy something in decent shape and livable condition so you don’t get mired in rehab disaster. (Ever seen the movie “The Money Pit"?)

Do I know about the neighborhood?

Did you do adequate research, look at enough properties, learn the neighbors, and learn about property ownership before you made an offer? If you just moved into town or if you don’t know the area, rent for a while and search out the perfect community in which you would like to live within your financial means. As with any big investment, the better you educate yourself the lower your risk of something going wrong.

While there is no risk-free real estate, considering the questions above should increase your chances of having a great, long-term, property ownership experience.

Shy Shinalt

Keller Williams Tyler

http://www.shyshinalt.com/

Tuesday, January 17, 2012

Home Sales Pace

www.shyshinalt.com

Home Sales Pace

Existing U.S. home sales rose in November, according to the National Association of Realtors, as buyers and investors continue to snap up bargains.
Total existing home sales increased by 4.0 percent to a seasonally adjusted annual rate of 4.42 million units from a downwardly revised 4.25 million in October. Compared with November 2010, sales are up as well, by 12.2 percent.
"Sales reached the highest mark in 10 months and are 34 percent above the cyclical low point in mid-2010 - a genuine sustained sales recovery appears to be developing," said Lawrence Yun, NAR chief economist. "We've seen healthy gains in contract activity, so it looks like more people are realizing the great opportunity that exists in today's market for buyers with long-term plans."
The national median home price actually rose on a monthly basis, increasing to $164,200 in November from a downwardly revised $160,800 in October. Compared with the year before, the price however, was down 3.5 percent.
The NAR defines existing homes as all previously-owned single-family homes, townhouses, condominiums, and co-ops. The group "seasonally adjusts" the sales numbers to factor in things like inclement weather, school sessions, winter holidays, etc. to smooth out the trends.
The NAR also describes its sales data based on an annual pace. The monthly figure represents the total number of housing units that would be sold in one year if the current rate were to continue unchanged.

Sales Pace by Region

Regionally, sales grew all across the country, led by a big jump in the Northeast.
In the Northeast, sales leapt up 9.8 percent to an annual rate of 560,000 homes up from 510,000 the month before. Sales are up 7.7 percent compared with November 2010.
Sales in the Midwest rose 4.3 percent to an annual pace of 960,000, up from 920,000 in October. Sales are up 15.7 percent from the previous year.
In the South, sales moved up 2.4 percent to an annual level of 1.74 million homes, up from 1.7 million, the month before. On a yearly basis, sales have risen 12.3 percent.
In the West, sales rose 3.6 percent to an annual pace of 1.16 million, from 1.12 million in October. Sales have grown 11.4 percent from November 2010.

Home Prices

The median home price, the point at which half of all homes are sold for more and half are sold for less, rose in all regions except the West.
In the Northeast, the median price rose to $240,200 up from $222,300 in October, but down 0.1 percent from the previous year.
The median price in the Midwest increased to $133,400 in November, up from $131,700 the month before, but down 4.0 percent from November 2010.
In the South, home prices rose to a median of $143,300 from $140,700, but were down 2.1 percent from last year.
In the West, the median price fell to $195,300 from $199,700 in October. It had also fallen 8.4 percent from November 2010.

Inventory

Total existing-home inventory fell again in November, by 5.8 percent to 2.58 million homes for sale. At the current sales rate, that represents a 7.0-month supply, down from a 7.7-month supply in October.

Next Report

Currently in the Tyler housing market :
Data for December existing home sales, prices, and inventory will be available at the end of January.
682 – Homes.com Tyler, TX Real Estate: Search houses for sale and MLS listings in Tyler, Texas. Local information: 682 homes for sale, 5 condos, ...
Shy Shinalt
Keller Williams ~ Tyler
http://www.shyshinalt.com/

Sunday, January 15, 2012

Tyler Real Estate ~ Real Estate update 2012

Tyler, TX Homes for Sale & Real Estate | Homes.com

Week of January 9^th ~ 15^th 2012

Wow!! Here at Keller Williams Tyler we are starting the year off with a bang… In the last seven days there has been a total of 50 pieces of property sold in the East Texas area. Totaling just over 7.2 million in sales with the average Med days on the market just 95…

If we take a look back to this same time last year, we are right on target with 51 sales during the same time frame, with the average Med days on the market 3 days long (98 days) and 8.5 million in sales. As you see the total dollar amount is slightly higher, but if you look at the sales, there was 1 additional sale and one property selling for over $700,000. Which pushes the total dollar amount up quite a bit. But after looking at that the numbers, I think that we are right on target for another great year in the Tyler Real Estate market and at Keller Williams Tyler we are off to a great start.

Now let’s take a look at the year in a glance:

Last year 2011 from January 1~ 15 there were a total of 86 properties sold with the avg. Med days on the market 79 and just over 12.5 million in sales. This year to date there have been a total of 75 properties sold with just over 10.1 million in sales and the avg. Med days on the market 101..

As you can see there have been fewer sales YTD and the avg. Med days on the market was a tad higher. But the good news is, here at Keller William Tyler, our avg. Med days on the market is 98 days and the average price from this same time last year has increased from $117,000 to $120,000 which reflects an increase of just over 2.5%.

In closing, I invite you to stop by Keller Williams Tyler for all of your Tyler Real Estate needs or visit my web site http://www.shyshinalt.com/

Shy Shinalt

Keller Williams ~ Tyler Broker/Associate

http://www.shyshinalt.com/

Saturday, January 14, 2012

Tyler homes

Tyler, TX Homes for Sale & Real Estate | Homes.com

With 689 homes for sale in Tyler, TX, Homes.com is the one stop shop for all your real estate needs. You can easily narrow down the choices by filtering by price, bedrooms, neighborhood or even property type ( new homes for sale, apartments for rent ...

Contact

Shy Shinalt
903.533.8114
http://www.shyshinalt.com/

Visit our site

Saturday, January 28, 2012

Wednesday, January 25, 2012

Tuesday, January 24, 2012

FHA will keep funding flips

Waiver for 90-day resales extended through 2012

Monday, January 23, 2012

I Have Been Through A Recent Bankruptcy And I Have A VA Loan Certificate. What Are My Options For Purchasing A Home?

Sunday, January 22, 2012

Friday, January 20, 2012

Friday, January 20, 2012

Will I own it for at least five years?

Do I love the home I want to buy?

Can I afford it?

Is the home in good shape?

Do I know about the neighborhood?

Tuesday, January 17, 2012

Home Sales Pace

Sales Pace by Region

Home Prices

Inventory

Next Report

Sunday, January 15, 2012

Saturday, January 14, 2012

Contact