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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