Foreclosures are still hitting the market in the East Texas area, not as bad as the beginning of 2009, but they are still appearing.  Some forecasters are saying that about 20% of the mortgages are significantly behind and they believe there is another wave of foreclosures coming along this Spring.   Though there can be some bargains out there - the road to buying a foreclosure or distressed sale is pitted with potholes!  There are a number of myths being propagated on television and other media that I want to address. ... more

Many of you have heard that the First Time Home Buyer Tax Credit has been expanded and extended which I believe will keep the real estate industry from coming to a complete standstill after the original November 30, 2009 deadline.  The new deadline is that you must be under contract by May 1, 2010 but must close by June 30, 2010 to collect the credit.  They also raised the annual income limit from $75,000 to $125,000 for a single person and from $150,000 to $225,000 for a married couple. ... more

It's no secret that the Tyler area real estate market has slowed down in the last several months.  Though the inventory of homes is not dramatically higher, the absorption rate is.  In the last dozen years, selling a home was fairly easy because just about everyone qualified and was able to get a loan. Today, financing is more difficult and the pool of qualified buyers is significantly smaller.  Now, instead of buyers competing for listings, listings are competing for buyers.  And believe me, after listening to the talking heads on the national news and financial channels on television, buyers believe they can call all the shots and make fantastic deals. ... more

Though not the economic disaster many other parts of the country are experiencing or as reported in the national media, the Tyler market slowed at the end of 2008 but is showing signs of picking up since the first of the year.  It is currently very advantageous to be a buyer in the Tyler market today.  Inventory has grown, sales rates have slowed and interest rates are at near historical lows.  The pool of qualified buyers is smaller making for less competition to purchase a home - the days of multiple offers and bidding wars are now over.  Needless to say, it has made it easier for buyers to find the right home and negotiate the right deal. ... more