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Why Are So Many Folks Moving To Texas?

Texas is about the same size as the country of France and is the only state in the Union, which at one point was a nation of her own. She gained her independence from Mexico after the battle of San Jacinto on April 21, 1836 becoming the Republic of Texas, with its own flag and president. In 1845, Texas entered the Union as the 28th state of the UTexasnited States of America. Texans have always had an independent and sometimes fiery spirit. From the Alamo to Quanah Parker to the Texas Rangers, and Bonnie and Clyde, Texas and Texans have always bucked the system and gone their own way. This attitude exists today and might be one reason for the flood of people. The top ten cities in the nation with the greatest population increase between 2011 and 2012 include, Houston, San Antonio, Austin, Dallas, and Fort Worth according to the U.S Census Bureau. Granted one reason is due to more births than deaths, however, a larger portion is an influx from other states and nations. What makes this red state so attractive to others?

Jobs of coourse are the biggest reason for the population surge. Texas did not suffer the same economic impact as other states during the 2008 recession. The oil and gas boom is one reason however; growth is also strong in technology and business services. Many criticize the jobs are due to cheap labor and poor regulations yet Texas has plenty of jobs for high wage earners, blue-collar and college degree required work. Four of the top ten job growth metropolitan areas in the nation are located in Texas according to the New Geography website. The large military presence in the state also contributed to the increase in jobs, many who retired from service find Texas the perfect place to call home.

Texas is not as expensive as other states. Housing prices are reasonable and that is not true for many other areas. Houston, Dallas-Fort Worth, and Austin are among the top ten in affordable metropolitan areas to live in the United States according to New Geography. The rating based on consumer prices, transportation costs, utilities and the most important, home prices, contrast greatly with cities such as New York, Los Angeles and San Francisco. In those cities, a majority of folks cannot afford to purchase a home and find themselves renting. Texas is the place for home ownership. Low taxes are another cause for the flood of new occupants. Texas is one of seven states with no state income tax. True property taxes in Texas are relatively high and many folks rightfully are fighting this trend. However, for overall taxes, Texas ranks among the top five for the lowest taxation according to the Tax Foundation website. Lower taxes and tax incentive for business attract corporations to this state in record numbers.

A choice of cities; six of twenty of the largest cities in the country are in Texas. If you want a metropolitan area move to Dallas, if you want an industrial city, Houston might be the best place, want a hip town try Austin, flavor of the old west Fort Worth, Spanish influence San Antonio or El Paso. No other state can boast the number of different regional flavors. Illinois for example only has one large city, Chicago, people who want to live in a large city in Illinois only have one option, and other states such as Pennsylvania contain more than one city yet are very similar.

Texas is family friendly. Low housing costs and the quality of living are huge factors contributing to the growth of the state. Many great small towns such as Grapevine dot the area and each one is a unique experience. Schools are generally good, some need improvement, but the perception of poor schools in Texas is not correct. For example, 8th grade Texans scored better in math than the national average and outscored those in California, New York, and Florida. There are plethora of churches in every denomination to choose from as well as family style restaurants and entertainment.

Fewer rules and regulations enhance business growth in the state. We do not strangle the average citizen with stupid laws such as soda bans. In one sense, Texas is the classic liberal state. Its laissez-faire attitude for both personal and business freedom is a hallmark of the culture. Some businesses who find themselves ostracized by state politics find a friendly business atmosphere in this state.

Texas contains 1.42 million acres of protected land and thirteen national parks ranging from Big Bend in west Texas to the Big Thicket National Preserves in east Texas. Fishing and hunting are big in the state with an abundance of wildlife including the Texas Horned Toad, Roadrunners, Rattlesnakes, Mountain Lions, Antelope and white tailed deer. For campers there is a wide variety of ecosystems to explore and for history buffs everything from battlefields to early Spanish missions.

Texans have a cohesion to one another, more so than any other state. People are neighborly and friendly, willing to give helping hands when needed, volunteer, or give generously. We are down to earth not pretentious. We are what we are. Many natural-born Texans stay put, The Pew Research Center confirms more than three-quarters of the adult population in Texas will never move to another state and those who come here find it hard to leave. If you are looking to relocate to the DFW area or considering selling your home, give me a call at 817-903-9425 or join me on Facebook. See ya down the road – http://www.djlyons-realtor.com/.


House Hunting Part 9 – Loans

5d489cfe-bbce-354dThe option period passed, the house hunter is now cruising to the closing date. Prior to searching for the new abode, the buyer requested a pre-qualification letter. During this stage, the lender discussed what loan options were available.  Choosing the right home mortgage loan can be a daunting process. So many different types and different conditions, does the Buyer want a fixed or adjustable rate loan. Then the house hunter must determine what kind of mortgage, the most common for Buyers are conventional, FHA and VA loans, some of the less common loans include USDA and Texas Veteran’s Home loans.

Fixed rate loans have the same interest rates year after year for the term of the loans. The Buyer’s monthly payment stays the same during the duration. This is true for whatever length of the loan from a fifteen year to a thirty-year. This is the best choice when interest rates are low. The House Hunter can lock in a good rate without fear of what will happen in the housing market.

Adjustable rate loans known as ARMS in the real estate world, the rate remains fixed for a pre-determined amount of time and then changes to reflect current interest rates. For instance the Buyer can get a 5/1 ARM loan, the first five years are fixed and then the remaining years adjust on a yearly basis. These types of loans are desirable when mortgage rates are high and indications exist the rates may fall in the future. When they do fall, the Buyer can refinance the loan to a fixed rate locking in the lower interest.

The next choice for the Buyer is what type of loan. The federal government does not insure conventional loans and they can be conforming to the rules and regulations of Freddie-Mac or Fannie-Mae or they can be non-conforming. They have less requirements than federally insured loans. The down payment is higher and if less than 20% the Buyer will need to purchase Private Mortgage Insurance (PMI).

The Federal Housing Administration (FHA) mortgage insured loans managed by the Department of Housing and Urban Development. The Federal Government insures the loan from default. Low down payments make this type of loan a great option for Buyers with little cash. The down payment is as little as 3.5% however, mortgage insurance is a requirement, increasing monthly payments.

The U.S. Department of Veteran Affairs (VA) offers a loan program for returning soldiers and their families. These loans are federally insured. They offer loans with no down payments and are a great option for our veterans. Paperwork is stringent however can be worth the trouble.

The USDA offers a loan through the Rural Housing Service and is a good option for house-hunters searching for a home in a rural town. Texas Veteran Loans created by Veteran Housing Program to help Texas Soldiers purchase a home with low-interest rates and no down payments.

During the contract phase of purchasing an abode the Buyer must take care not to make any other big expenditure. Do not buy a car or run up your credit cards during this period. Doing so could damage the Buyer’s chances of obtaining a loan and closing on the new castle.  See ya down the road. http://www.djlyons-realtor.com