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FIRST-QUARTER TYLER HOME SALES SKY-ROCKET
Tyler Mornig Telegraph
By CASEY MURPHY, BUSINESS EDITOR
April 12, 2012
After a glum year in real estate, home sales in the Tyler area during the year's first quarter spiked more than 17 percent from the same time last year.
There were 665 homes sold during the first three months of 2012, a 17.7 percent jump from the 565 units sold during the first quarter of 2011.
Local realtors believe the real estate market is strengthening after the Tyler area saw a 12.45 percent hike in home sales in March compared to the same time last year.
There were 271 houses sold here last month, up from 241 units sold in Marc, 2011, according to figures released Wednesday from the Greater Tyler Association of Realtors.
The most recent sales were also an increase of 20.44 percent from the 225 homes sold in February.
Lawrence Yun, National Association of Realtors chief economist, said underlying factors are much better compared to a year ago.
"The market is trending unevenly, with record high consumer buying power and sustained job gains giving buyers the confidence they need to get into the market," he said in a prepared statement.
"Although relatively unusual, there will be a rising demand for both rental space and homeownership this year."
The median sales price of a home in the Tyler area in March was $136,000, a 2.26 percent hike from the median price of $133,000 experienced the same time a year ago and in February.
Mary Smith, RE/MAX broker associate and chairwoman of the Greater Tyler Association of Realtor's public relations committee, agreed with Yun.
"The current market is very attractive for investors and other buyers who want to take advantage of the favorable interest rates," she said. "Several buyers have indicated that they feel that this is the best time to invest in their future by securing a home before the interest rates start to escalate."
She said the rental market has been good this year, which encourages investors to continue to buy rental properties.
The Tyler area's home inventory remained at 11.7 months for the second consecutive month in February, the latest month for which figures from the Real Estate Center at Texas A&M University were available. That is down from 13 months in February 2011.
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.
Although the inventory of homes remained constant for the last two months reported, Greater Tyler Area Association of Realtors data indicates the average days on the market for existing homes is decreasing, which typically results in a tightening of the inventory, Ms. Smith said. Overall, the market trends continue to indicate that the local real estate market is strengthening.
Smith County saw 24 foreclosures in February, up from 12 in January and eight in December, according to the latest figures available from RealtyTrac.
Total home sales for Texas in February were up 20.73 percent from a year ago, according to the latest figures from Real Estate Center at Texas A&M University.
There were 14,699 houses sold in February, compared to 12,175 in February 2011. The latest month's sales are also a 24.99 percent increase from the 11,760 units sold in January.
Texas' median home price for February was $146,700, a 0.411 percent increase from $146,100 the same time a year ago. It's also a 6.3 percent spike from January's median price of $138,000.
At six months, the state's inventory remained the same in February for the third consecutive month and dropped from 7.4 months in February 2011.
6 ways to jumpstart your 2012 job search
The Dallas News
By HEATHER HUHMAN
January 20, 2012
1. Update your material
It's the new year, and it's time for an update – go through your job search material and refresh it. Update your resume with new experience, skills, or information; update your cover letter format to reflect any changes or to include new examples of your accomplishments and goals.
Take your updates online: update your portfolio or website (if you have one) with new projects or new material. Update your blog (again, if you have one) with new material. Update the biographical information on your social networks – Facebook, LinkedIn, and Twitter, especially.
2. Analyze your status
Take a good, hard look at where you're at in your job search. Have you met your prior goals or objectives? What's been successful and what hasn't? Now, turn and look at yourself — have you gained any new skills or experiences? What do you bring to the table for an employer? Is there anything that might be a red flag to a prospective employer? Taking inventory of the current state of your job search and your "employability" will help you figure out what you need to do to get where you want to go.
3. Set new goals
Speaking of getting where you want to go, a new year means new goals! Besides all of the administrative updates to your application materials and online presence, be sure to update your job search goals and objectives for the year.
Take the information you gained from analyzing your job search status and apply it to your new goals — set goals for what you need to work on, what you want to accomplish, and where you want to be in 2012. Make sure to make your goals realistic. Specific, attainable goals will help keep you motivated during the year.
4. Revamp your plan
You have updated material, a grasp on the status of your job search, and new goals; take these three things and revamp your job search strategy. Every job search needs a plan; this plan isn't limited to where you want to be or what you want to do (i.e., goals), but also includes specific tactics for how to accomplish your goals and a timeline to keep you on track. Update your current plan or start from scratch — either way, it's important to have a solid sense of direction for your job search, and a good idea of how to get where you're going.
5. Meet new contacts and keep the old
Ex-Girl Scouts may remember the familiar anthem: "Make new friends, but keep the old; one is silver and the other's gold." This applied in your Scout years and now it applies in your job search. Networking is essential at every stage of your job search; to kick-start your 2012 job search, attend networking events, engage on social networks, and reach out to relevant people to build your network and add new contacts.
As important as it is to add new contacts to your network, it's also important to support the network you already have. Remember, networking is about creating a two-way, mutually beneficial relationship — continue to engage with and help out people in your existing network while building it larger.
6. Try something new
It's a new year and time for some new approaches to your job search. Think hard: what are some things you haven't done yet for your job search? Maybe you have yet to build a portfolio, start a blog, set up informational interviews, or jump on the Twitter bandwagon. Pick one or two (or three or four…) tactics you haven't yet tried in your job search, and make a resolution to try them in 2012.
