Price of New Homes in Lubbock, TX Continue to Trend Up in the Market

NAHB’s chief economist David Crowe has hinted on a more positive 2014 forecast as early as last fall during the 2013 Construction Forecast webinar conducted by NAHB. “The cards are in play for a decent and fairly strong recovery in 2014, and particularly in 2015. From the standpoint of GDP growth, housing has been a plus, growing at two, three, and four times the rate of the rest of the economy in recent quarters,” said Crowe.

On a more favorable note, as of March 19, the median price of homes in Lubbock tally at $228,413, representing an increase of 2.4%, or $5,254. These homes are mainly located in some of the city’s most popular neighborhoods, notably Bayless Atkins, North by Northwest, Northridge, Maedgen Area, Preston Smith, and Caprock.

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Sales of Lubbock Homes Maintain Good Market Standing Despite Minor Dip

Country living is a huge part of the culture, and so is football. Checking out the city’s collegiate football team, the Red Raiders, is a good start for gridiron action enthusiasts. The city is also home to one of the premier educational institutions—Texas Tech University.

If this sounds like your kind of city, get in touch with a knowledgeable real estate company, such as Coldwell Banker Realtors, that can guide you with the process of buying a home, as well as with mortgage lending. A professional realtor can provide you access to numerous Lubbock, TX homes from their listings, and can narrow down the list for you based on your preference and budget.

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First Time Shopping for Homes for Sale in Lubbock, TX? Things to Know

Buying a home for the first time can have its exhilarating and terrifying moments – you can never really predict when something could go wrong, or how your decisions will pan out in the end. Indeed, the search for excellent homes for sale in Lubbock, TX is a thrilling but stressful process because every step needs to be weighed and considered carefully from different angles. Here are some facts that should guide you through this particular milestone in your life:

Space vs Location

In most cases, you will have to decide between space and location (or proximity to amenities), so you need to think this thoroughly before you start looking for a house. Remember that the real estate market moves rapidly, so while you’re still mulling things over, another buyer might suddenly swoop in and take your dream house away from you. So it’s best to go in with a clear mindset so you can make quick, timely decisions.

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Go through Local Lubbock MLS Listings with these Top Home Hunting Tips

There are various means through which you could find your dream home; most commonly through the help of a realtor, such as Coldwell Banker, which offer dependable Lubbock MLS Listings. Whichever path you choose, you realize that buying a house is one of the most important decisions you will make in your life, and so you want to make sure that you are making the right calls. Here are some of the most common pitfalls that could end up making your home purchase less of an investment and more of a financial burden:

Don’t be fixated on something you can’t afford

This is a common problem with first-time homeowners: they fixate on some luxurious features that they “just know” will make their new home perfect, forgetting that the cost might be too steep for their budget. To keep yourself from falling into this trap, opt instead to focus on homes within your price range, starting from those at the lower end, and gradually making your way to the higher price-range homes.

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Consider Moving to New Homes in Lubbock, TX as Middle-Income Jobs Drop

In cases where incomes are not enough to support regular household expenses, families usually examine the possibility of moving into more economical homes. Land and housing are cheaper in Texas, making it the prime choice for relocation. Its appeal doesn't stop there.

The overall cost of living in Texas is lower compared to other states. Top that with an abundance of new jobs and low taxes, and it becomes clear why so many people have migrated in recent years. According to Mr. Cowen, the numbers can still be expected to rise.

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Poised for Strong 2014, Lubbock Homes Market Expected to Help Economy

Due to the city's fast progression, Lubbock is proving to be an attractive place to settle down in. Existing homes and new constructions are contributing to the successful balance of home supply and demand. Although speculative homes – properties that builders finance themselves in an attempt to sell them quickly – leave experts dubious, it is believed that the Lubbock market is still capable of handling this supposed influx.

Behind marketable Lubbock homes and a booming house market are real estate companies. These help in boosting the city's economy by selling these homes at the best possible value. The most successful ones are those that utilize excellent systems and technology, and provide personal services to fulfill the goals of their clients.

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Homes for Sale in Lubbock, TX Influence City Ranking on Money Saving

A city's prosperity usually depends on its offerings for both businesses and residents. When a city meets both sectors' needs and requirements, this results in exciting prospects for progress and expansion. In the case of Lubbock, the encouraging financial situation is drawing in multiple sectors of society and establishing a great economic environment for everyone.

With Lubbock expanding at a steady pace through the arrival of oil industries and other new businesses, there is also a rising necessity in the housing market and an increase in building and home sales. More people are gravitating towards the city's abundant supply of jobs and, therefore, also try to find homes for sale in Lubbock, TX so they can be closer to their workplace.

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Want to Sell Your Home Fast? A Lubbock MLS Listings Provider Can Help

Selling a home in a seller's market is far different than doing so in a buyer's market. Now that Lubbock is experiencing the former, it is indeed a fabulous time to sell. Not only will your property's days on the market be fewer, you'll also likely receive many offers, which can let you drive up the sales price.

Most people think that all they have to do to let people know their property is for sale is to put up a sign in the yard that says so. Sure, it may be easier to sell in a seller's market, but it certainly takes a lot more to sell a home than simply hanging a sign out front. It requires planning strategies and using the proper tools. One of the tools that you need to get to know very well is the MLS.

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Use a Multiple Listing Service to Find Great New Homes in Lubbock, TX

To ensure that transactions go as smoothly as possible, realtors, sellers, and buyers alike can take advantage of a tool to promote and find homes in Lubbock called the multiple listing service (MLS). The MLS exposes house hunters to hundreds of home sellers they wouldn’t otherwise be able to reach and helps them search for properties that match their standards. After identifying their preferred property, a realtor from reputable real estate groups like Coldwell Banker Rick Canup Realtors can help them get in touch with the seller and obtain the best price and the best terms.

With well-planned and informative Lubbock MLS listings, realtors are able to offer more homes. In many cases, the listing is also available online so that other buyers not working with a realtor will be able to see what sellers have to offer.

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Local Bank Releases New Exciting Figures for Lubbock Homes for Sale

Like the construction industry, the residential construction and sales sectors also improved significantly. Construction activities increased 41.4 percent since 2012. On the other hand, the year-to-date home sales recorded went up 18.3 percent despite a downward dip in the fourth quarter. Complementary to the increased vigor in these sectors, home prices rose 4.6 percent in 2013.

The strong market data released for 2013 is a boon for investors who are eyeing the city’s properties. With new Lubbock, TX, homes supplying the rising demand, which data shows may be due to a significant decrease in unemployment, all interested parties can work with trusted realtors like Coldwell Banker, Rick Canup Realtors to secure great investment properties.

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NAR Figures Suggest Upward Trend for Homes for Sale in Lubbock, TX

For buyers and investors closing homes for sale in Lubbock, TX, the rising trend provides assurance that their newly acquired properties will see appreciation in the coming years, allowing them to get the most for their money.

For sellers, especially those working with trusted brokers like Coldwell Banker, Rick Canup Realtors, the data indicates their beautiful homes for sale in Lubbock are more likely to attract buyers that will give them the best return on their initial investment.

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Lubbock MLS Listings Help Your Home Get Noticed in a Rising Market

The MLS, or multiple listing service, is a platform used by realtors to collate real estate data for quick access. It is used for a number of purposes, including helping realtors find prospective properties to pitch to clients. It also helps the collective of realtors find data about market sentiment, local property prices, and more.

Buyers can stand to benefit from using the comprehensive Lubbock MLS. With thousands of choices made available to them, buyers are spoiled for choice and can seek the assistance of any National Association of Realtors member, like Coldwell Banker, Rick Canup Realtors, to acquire the property.

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Useful Tips for Newlyweds Looking for Suitable Homes in Lubbock, TX

Get an Agent

Conducting your own search for suitable homes in Lubbock, TX can be a time-consuming affair, and there’s no guarantee you’ll chance upon an ideal one. Fortunately, you can rely on real estate agents from companies like Coldwell Banker, Rick Canup Realtors who know the local market well and have access to properties that might pique your interest.


Draft a Wish List

Once you’ve selected an agent, it’s time to tell him or her what your dream home is like. First discuss with your spouse what features you really need in a house and those you can do without or at least compromise on. For example, is an expansive yard a must or can it be smaller provided there is a nearby park?

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Avoid These Common Mistakes When Selling Lubbock Homes

Doing it Alone

To avoid agent or broker fees, some people choose to sell Lubbock, Texas homes themselves, often called “For Sale by Owner.” Doing so, however, also means scheduling open houses, dealing with potential buyers, researching legalities, and filing the paperwork yourself. To avoid such hassles, hire a trusted real estate company like Coldwell Banker, Rick Canup Realtors.


Pricing Too High

There’s no faster way to scare off would-be buyers than by sticking an exorbitant price tag on your house. Before settling on a price, first do a research on the going rate for homes in the area similar to yours. You might even want to price it a bit lower—the attractive cost may start a bidding war that will eventually drive up the price to the true market value.

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Homes for Sale in Lubbock, TX: Dealing with Bad Inspection Results

The Bright Side of Things

It’s only normal to feel a mix of negative emotions, from sadness to frustration, when your inspector goes back to say that your home failed to meet quality standards. Nevertheless, look at the bright side; the scenario where your buyer sues you after discovering the faults only after the sale was closed would be practically nonexistent.

Don’t Panic

You also shouldn’t rush in a panic and start telling everyone, including your prospective buyer about how you’ve discovered major problems with the house you’re selling, how much you’re worried about the price drop, and so on. Instead, just keep calm, let your buyer check out the house, and wait for him to give you a request for repairs or price reductions.

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Selling Through Lubbock MLS Listings? Know Your Home’s Value First.

Value Drivers

When you ask leading realtors like Coldwell Banker, Rick Canup Realtors about putting up a price tag for your home, it would help to know just what factors affect your home’s value in the first place. Its proximity to certain amenities, schools, transportation, and emergency services for one will have a heavy bearing on how much you can get for it.

Land and Home Rebuilding Costs

First, calculate the current land value of your lot – do this by determining the average selling price of land in your community, calculate the price per square foot and multiply the result to your land area. Add to these figures the cost of rebuilding your home, as well as the improvements and additions you have done, and you should come up with an estimate of your home’s fair market value.

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