by Ashley Hammons | Oct 10, 2022 | Buying & Selling, Buying a Home, Home buying & selling, Preparing your home, Real Estate, Real Estate Agent, Selling your home
Real Estate in Hunt County Texas, and Greenville Texas
The housing market is being directly impacted by the Fed’s strong monetary policy, which is relieving the pandemic-caused housing frenzy. Let us see what is happening in Hunt County and Greenville Texas!
The housing market is still being dragged down by aggressive monetary policy, which has stopped the previously torrid streak of home sales. As home inventories increase and home prices decline, the housing market continues to exhibit symptoms of relaxation. The increased demand for buildings shows that many potential homebuyers may be delaying their major purchases despite a decline in construction permits across the state.
In the previous year, mortgage interest rates increased by 2.84 up 5.22 percent. Texas’ home market immediately reduced sales amid these significant rate increases, and supply has been steadily building up. Despite the decline, prices still are high and stock levels are well below historical levels. Even while costs have decreased recently, they are still extremely high when compared to before the outbreak. Texas’ median price is still 11.4% more than it was a year ago as of August.
Regarding Hunt County & Greenville, Texas, the market for real estate has had various difficulties. Let us find out what the latest market reports and updates are:
Situation till October 2022:
Hunt County sellers are still witnessing a good increase in price even though other indicators indicate toward a cooling market, even though the local property market is characterized as “a shifting market.”
According to a Redfin analysis, house sales in Hunt County in August had a median value of $305,000, a 22.9% increase over the same month last year. Homes in HuntCounty typically sell within 30 days (about 4 and a half weeks) on the market as opposed to 22 days (about 3 weeks) the year before. In August of this year, 155 properties were sold, compared to 172 in August of last year. Hunt County’s short average time on the market for homes suggests that the sellers’ market will continue to be robust.
A group of economists from the Dallas Federal Reserve published a paper in March that claimed the local housing market was in the initial stages of a bubble. Due to sellers’ concern that they would miss the hot market, there are 41% more houses listed for sale now than there were two weeks earlier in the DFW area, where home sales have increased. M&D realtors only recently reported observing more indications of a cooling market, including open houses that had little to no attendees, a slowdown in the flow of offers, and an increase in the number of vacant homes. In Rockwall County, there were 100% more houses listed for sale in the last month than there were at the same time last year.
It should be noted that, according to M&D research, mortgage demand has decreased to its lowest level since 2018, with 14% fewer persons applying than at the same period last year. Additionally, rates of interest have been climbing, with the 30-year bond presently hovering at 5.5% since December 2021, up from 3.29%. Naturally, buyers may still encounter soaring prices, but you might be up against fewer bidders and proposals than they were for just a home even a few months ago. Inventory sales will increase over the following few months, providing more possibilities for purchases.
The market remains favorable for sellers despite recent indications of a slowdown, in part because of ongoing population increase and other considerations.
by Ashley Hammons | Sep 5, 2022 | Buying & Selling, Buying a Home, Home buying & selling, Homeowner Financial Prep, Real Estate, Real Estate Agent
Don’t sleep on listing your Hunt County home for sale while the market is still in your favor.
If you’re looking to list your home for sale in Hunt County, it has never been a better time. However, it won’t be a seller’s market forever. Here are a few reasons why now is the perfect time to sell your Hunt County and Greenville, Texas real estate.
Supply is low and buyer demand is high
At the height of the pandemic, there was a surge in demand for homes, and that demand has yet to wane. Following a 2020 and 2021 buying frenzy, the supply of available homes is dwindling, but the demand for those homes is still as high as it was in early 2020. If you are looking to sell Greenville, Texas real estate, strike while the iron is still hot!
Home prices in the United States hit a record high in May of this year when the median home price tipped just above $400,000. Prices are projected to remain high throughout the fall season and into the holiday season of 2022. Even though interest rates have risen and home sales have slowed somewhat, overall home prices remain high, but they may not stay there forever.
Rents continue to rise and buying is an attractive option
With rents increasing across the United States, buying has never been a favorable option meaning you’ll have an endless pool of interested buyers. Overall, the US saw an average median rent increase of 13.4%–higher than the rate of inflation. Though home prices have also surged, rental prices have increased beyond the median mortgage payment rate making the buying versus renting debate a no-brainer. The swelling of rental prices has buyers looking for homes for sale in Hunt County and opting for smaller markets like Greenville, Texas real estate.
If you’re thinking about selling your Greenville, Texas real estate, now might be just the right time. The team at AT Home Texas Real Estate has years of experience helping sellers navigate the entire selling process from listing and vetting buyers to negotiating and closing. Let the AT Home Texas Real Estate team take care of the fine details while you relax and let the offers roll in.
by Ashley Hammons | Aug 22, 2022 | Buying & Selling, Buying a Home, Home buying & selling
There are many architectural styles that dominate the Greenville, Texas real estate scene. Though charming historical homes may be few and far between, downtown Greenville real estate still plays host to its share of charming Victorian and Early American homes. If you prefer a newer build, you’ll be delighted to find a number of ranches and single-family homes in Greenville, too.
Siding, Brick, and Stone Single Family Homes
There are an array of siding, brick, and stone single-family homes for sale in Hunt County, Texas and the surrounding counties. These types of homes run the gamut from multi-story mansions with multiple bedrooms and ample land area to small properties nestled inside neighborhoods. If you’re looking for a newer build in your search for homes for sale in Greenville, Texas, single-family homes with brick or siding are typically your best bet.
Ranch Homes
Nothing says Texas quite like a ranch-style home boasting large, open living spaces with wooden beams and accents. If you’re looking for homes for sale in Greenville, Texas, you’ll be pleased to find many suitable ranch-style homes.
Early American
Homes built in the early to mid-twentieth century are often referred to as Early American style homes. Homes of this style have a range of accents and architectural details depending on the time period in which they were built. They’re also chock full of charm. If you prefer a home with old-world charm, start your search for an Early American home in Greenville, Texas with help from the AT Home Texas team.
by Ashley Hammons | Aug 16, 2022 | Buying & Selling, Buying a Home, Home buying & selling, Real Estate
Four Tips for Buying Greenville, Texas Real Estate in Today’s Market
It is no secret that the current real estate market is unique. For much of the last two years, an influx of interested buyers kept demand for new homes high. At the same time, sellers were not so interested in selling until the market enticed them otherwise. Whether you’re looking to buy a home in Hunt County, Texas or purchase a piece of Greenville real estate for investment purposes, you’re in luck. Navigating the current market doesn’t have to be tricky. These tips for buying Greenville, Texas real estate will have you enjoying your new pad in no time. Tips for buying in the current market:Get pre-approved: Before you start the home-buying process, you’ll want to have a lender verify your finances and credit via the preapproval process.Search under budget: Search for homes under your budget to guarantee you’ll be able to offer over the asking price. In a hot market, it’s important to have a little bargaining room.Prepare down payment: Whether you’re funding your own down payment, opting for a partial loan, or receiving funds as a gift, you’ll want to have the cash ready before starting the home search.Work with the right people: A great realtor can really make or break your search for Greenville, Texas real estate. Ashley and Tracy of At Home Texas Real Estate pride themselves on their dedication to their clients’ needs. They ensure their clients have the utmost support throughout the entire home-buying process.
by Tracy Hammons | May 18, 2022 | Buying & Selling, Buying a Home, Home buying & selling, Real Estate, Real Estate Agent, Selling your home
Property tax statements have arrived!
Notices of appraised property value have been pouring into local mailboxes from County Appraisal Districts across the State of Texas. Folks have taken to social media to vent their outrage at large year-over-year increases in property values assumed by local officials! People are upset at the prospect of their property taxes soaring to unreachable heights! Is this just fear and misunderstanding or is it truly a well-rooted concern and outcry? Let’s dig in.
First, let’s talk a little legal lingo. Tax Code Section 23.01 requires taxable property to be appraised at market value as of January 1st and Tax Code Section 23.23 limits increases of the total assessed value to 10% from year to year if the property is under homestead exemption (note there are a couple of exceptions to this rule). This creates a little havoc when people who are not tax or real estate professionals start trying to decipher their notice. The homestead rules set up instances where there are two different values for the same property on the same tax notice! Appraised Value – Full market value of the property, or in other words the amount the county appraisal district assumes the property will sell for on the open market. Assessed Value – the value at which taxes will be assed. Your homestead exemptions also let you reduce the Assessed Value amount by $25,000 ($40,000 next year) when calculating the school district’s portion of the total tax rate. The difference between the appraised value and the assessed value is referred to as the Homestead Cap Loss. To make things even worse some appraisal districts, such as our local authority here in Hunt County, use Assessed Value on their CAD website, yet they use “Homestead Cap Value excluding Non-Homesite Value (i.e. Ag, Commercial)” on the Notice of Appraised Value.
With the fact that homestead values are capped at a 10% increase per year and many homeowners are seeing an increase in appraised values in excess of 50% (avg 20% in Hunt County), this sets up a unique scenario where a property could actually lose value in years to come yet the county could still increase their property tax revenue because the homestead cap value has lagged so far behind appraised values. For me, that is a pretty hard realization to swallow. I personally do not believe that property values will decrease anytime soon, but I do not have a crystal ball. It just makes me wonder if this was even considered a possibility when legislators took up the homestead cap to a vote?
So here is where we are. Property Tax isn’t going away, or down, anytime in the near future. Property Tax Notices are hard to navigate for most people. Our office has taken countless calls and messages through various platforms with questions about them since the first notices hit mailboxes in Northeast Texas. We have talked mainly about owner-occupied homes and homestead exemptions, but there are many other considerations. From Ag/Timber exemptions, Personal Property and Minerals, to Commercial Real Estate as well as exemptions like Over 65 and Veteran exemptions. The list is extensive and will not get any easier as legislators continue to shape and mold tax law. Don’t be ashamed to ask for help. Understanding your appraised value and how it influences your tax responsibility will also help you make informed decisions when matters that affect property tax rates are on the ballot.
There are many factors to consider when deciding whether or not you are going to protest your property taxes, just one being the inside condition of your home or office. Did you just realize that the county appraiser has never been in your home yet still gave you a market value that matches the neighbor’s fully remodeled and modernized home sales price? Yep. That’s what they do. We can help you understand your appraisal notice, help you decide if you should protest your appraised value, help you prepare to protest, and even protest on your behalf.
Is this just fear and misunderstanding or is it truly a well-rooted concern and outcry? Maybe it is both. I will let you decide!
