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Wcat thank you for the info, I was thinking about it because the money just seat in the bank, What i can accept to receive on a house that worth 120K to 140K? and what will be left from it after paying all the tax, including the yearly property tax?
I will really appreciate your answer as i have no clue on the subject.
Thanks in asdvance,
I'm not sure I understand your question? Are you asking about rental rates for houses in that price range? Rentals will vary depending on the area of town. But on an average it's about $1 per square foot for montly rental rate.
Property taxes in this area are a big controversy...and newcomers biggest complaint. Cost of living is cheaper here than most large metro areas, but then earning power is less too.
Because of the huge influx of people moving to this area in the last several years, the land values have double, tripled and even quadrupled in certain areas. That being said, you get more house/property for your money. Tax rates vary according to county and exemptions so I can't really give you a tax percentage without more specifics. The local county tax appraisal district offices are mostly all online. You can check out the county you're interested in and see a "ball park" estimate for your price range.
She asked how the general real estate industry in that area is doing.
And I replied:
We are going through the annual slowdown, and although I don't think the subprime/mortgage shake-ups have affected us that much, I think we're in a wait-and-see time.
And, once again, I offered to run the numbers for a specific area if the OP would like to see them.
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As much as you try to spin it and quote Mark Twain (which that quote is used ad nauseum), it doesn't change the facts that sales are down and inventory is up.
And prices are up 9%. And 'spin' - oh please. As I pointed out before, the figures are NOT broken down into price categories or MLS areas. And, one more time, I offered to run the numbers on a specific area if the OP would like to see them.
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It also lists "months of inventory", which is pretty similar to average days on the market.
Well then, which homes are selling faster than others, and why? Do you think a $150K starter home is going to sell faster than a $300K estate? How do the numbers presented by the real estate center back up your answer? If that information was of interest to the OP, I offered to find more specific information.
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I'm saying that Texas A&M has posted sales data, which you are saying is illegal because you are a non-disclosure state.
They give average sales price. They don't compare it to average list price. I think that's a telling piece of data. I wonder why they don't present it, since everything is so open (save for the county records).
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A simple google search of the definition of a "non-disclosure" state tells me that it has nothing to do with posting overrall sales data. It has to do with how individual sales are recorded at the county level, and that the information is not publicly record like most other states.
It has to do with a *little* more than that. There are also little rules that people who are privy to that information have to follow. Now, I offered to find specific information for one person - which falls out of the boundries of 'overall sales data.'
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Texas, IRED
Why is Texas a Non Disclosure State? Other than benefiting the realtors, wht benefit does this have for me? - Trulia Voices
Maybe it means that Texas realtors aren't allowed to post on a public forum.
Maybe it means that I want to be helpful and not lose my license.
Non-disclosure means that the government doesn't require buyers and sellers to report sales prices. It doesn't mean it's "illegal" to collect the information, or to report it.
It's a problem for some people, and an opportunity for others. It makes tax appraisals more difficult, for example, and less accurate, since the government doesn't have direct access to sales transactions.
The information is still out there - it's just that it's in private hands. If you buy house listed on MLS, Realtors record your information, including what you paid, and send it up to their organization. The organization, in turn, creates a database, the agents share.
The information is closely guarded, but not illegal. Just valuable.
It is a buyers market now but the buyers might not be able to a good loan due to the scams pulled by lenders pushing sub prime mortgages. Foreclosures are up and times are very risky unless you have lots of capital. Even then substantial risk is still there if you hope to resale any time soon before the market rebounds. Who knows when that will be?
Is it a good investment to purchase a home in San Antonio those days? buy in cash, No mortgage, rent it for now and hopefully sell it in the future.
As long as you're realistic about what to expect. If you can afford to buy a house and rent it out, it's always a good investment. Real estate prices are always going to rise over the long term, and if you've got people making your mortgage payments for you, it's a very solid investment.
The "investors" that are having problems are the ones that jumped on the bandwagon, yet didn't have the savings to put money down on a property or have the reserves to support an investment property. They're the ones that came rushing in and creatively financed several properties, over-leveraging themselves.
The ones that are really benefiting are the ones that just buy a property here and there when they're financially able to instead of figuring out a creative way to buy some and "get rich".
It doesn't work that way.
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