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Steve Young
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Steve Young
4th Quarter Stats for 2021
Information provided by the Texas Real Estate Center, Texas A&M University and Steve Young with RE/MAX -
Steve Young
Simplicity
If you’re looking for an easy and affordable way to add some curb appeal simply place two identical potted plants on either side of the front door. Or, for a bit of color add a single flower box planted with your favorite flowers. Hot tip – choose plants that are low maintenance and easy to prune like evergreens or boxwoods. #thehelpfulagent #home #houseexpert #house #listreports #homeowner #realestate #realtor #realestateagent #diy #hometips #curbappeal #happyhome #icanhelp -
Steve Young
Texas Land Sales for 2021
COLLEGE STATION, Tex. (Texas Real Estate Research Center) – A year in which Texas rural land sales reached unprecedented highs ended with a surprising slowdown. Total land sales for 2021 surpassed 2020 by 17.8 percent. That was despite a fourth quarter with 953 fewer sales than the same period of 2020.
“There were 9,055 Texas land sales in 2021,” said Dr. Charles Gilliland, research economist with the Texas Real Estate Research Center at Texas A&M University, an expert on the state’s rural land market.
In fourth quarter 2021, Texas recorded 1,283 rural land sales, significantly fewer than the 2,236 sales in fourth quarter 2020.
“Fourth quarter 2020 was crazy,” said Gilliland. “So anything near normal looks pretty calm by comparison. The fourth quarter 2021 drop may just be the result of a lack of inventory to sell.
“Feverish 2021 demand for land, coupled with a dearth of listings, pushed prices up a remarkable 29 percent to $3,954 per acre statewide,” said Gilliland. “Total dollar volume reached a record $3.4 billion, up 97.6 percent over 2020.”
In 2021, a record 846,347 acres changed hands, an increase of 53 percent.
“This continues to be the most active period in Texas land market history,” said Gilliland, who has monitored the state’s land market for 40 years. “The typical tract size sold in 2021 expanded by 14.6 percent to 1,305 acres.”
All regions of Texas posted double-digit price increases and substantial increases in total acres transferred.
“This explosion in annualized sales volume topped 2020 totals. However, the 2021 fourth quarter-only sales volume was 42.6 percent less than the total of fourth quarter 2020. Fourth quarter 2021 looked more like 2019, when pre-pandemic sales totaled 1,211. Last quarter declines occurred in all regions except the Panhandle and South Plains,” said Gilliland.
“The fourth quarter volume trend may indicate the insatiable demand that propelled prices and activity into record territory is beginning to wane,” said Gilliland. “The falling volume may also indicate market participants have begun to push back on current high asking prices.
“Fourth quarter 2020 was super active—up 85 percent over 2019—so a drop in quarterly volume does not equate to historical low levels,” said Gilliland. “Besides, brokers report a general lack of inventory for sale. Ultimately, the number of sales doesn’t significantly differ from the 2019 fourth quarter numbers; they are actually up about 6 percent.”
Gilliland sees a couple of possible future scenarios.
“Facts suggest Texas land markets may be returning to a more normal level of activity. On the other hand, despite the smaller number of fourth quarter sales, brokers report they are still very busy working with numerous prospective buyers,” he said. “Some brokers even see activity picking up.”
Quarterly and annual statistical analyses for the seven Texas land market regions can be found on the Texas Real Estate Research Center website
Funded primarily by Texas real estate licensee fees, the Texas Real Estate Research Center was created by the state legislature to meet the needs of many audiences, including the real estate industry, instructors, researchers, and the public. The Center is part of Mays Business School at Texas A&M University. -
Steve Young
For That “Rainy Day”…
Home maintenance and repairs never come at a convenient time. It’s a good idea to set aside a certain amount each year to pay for expected and unexpected things that may arise. It’s a little different for your investment homes. Contact me to get my opinion on those!
Are you a diy-er or a call someone for help-er? #thehelpfulagent #home #houseexpert #house #listreports #hometips #homestyle #homediy #homereno #realestate #realestateagent #realtor #themoreyouknow #smartmoney #finances #icanhelp -
Steve Young
Make Sure You Hire a Professional…
The buyer and the seller agreed to and signed a contract on a property. However, the buyers changed their mind and no longer wanted to purchase the property. The buyers can walk away since they haven’t paid the earnest money or option fee, correct?
No. If the contract has been properly executed by all parties, there is a binding contract even if the buyer has not deposited earnest money. The buyers are not allowed to walk away.
Earnest money is not necessary to make a valid contract. Earnest money is a buyer-performance item required to be deposited after a contract is fully executed. A contract could become effective even if no earnest money is required in the agreement.
If earnest money has been agreed upon in the contract, the buyers are still required to deposit the earnest money within the time required for delivery. If the contract calls for a termination option and the buyers timely pay for that option, they would then have the right to terminate the contract within the specified time period.
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Steve Young
Keeping up with the Market=Better Informed Clients
Thank you for everyone that reads and follows my updates and posts. I try my best to not only market my clients’ properties but to add value to my readers through pertinent real estate information and good ideas for those that might be considering selling, buying, leasing-management, and investment properties. The Texas Housing information from The TX A&M Research Center is one example of how I keep up with market trends for not only my clients & customers but the general public as well. A top real estate agent told me when I started the business, one of the very best ways to represent your sellers, buyers, and investors was to stay on top of “market conditions”, not just it’s a seller or buyers’ market but the reason for it and how you can take advantage of this knowledge. If you ever want to know more about my residential and commercial business along with my property management program, please contact me, Steve Young at steve@steveyoung.pro, 682-472-6263 or http://en.gravatar.com/stevesellsdfw. A link to the Real Estate Center at Texas A&M is below. -
Steve Young
Market Factors…
Knowing and understanding the things that affect the housing market can help you determine when/if it’s a good time for you to buy or sell a home. If you’ve got other questions, just send me a message! I’m here to help. #thehelpfulagent #home #houseexpert #house #listreports #homeowner #realestate #realtor #realestateagent #themoreyouknow #icanhelp #mortgage #finance #investment -
Steve Young
The Importance of the First Thing They See!
Creating a symmetrical, intentional front yard will increase your curb appeal when selling your home. You don’t have to redo your front yard to create curb appeal, here are some tips to help you edit what you currently have. If you’re thinking about selling, I can be a fresh pair of eyes to help get your home ready. Where do you buy your plants? #thehelpfulagent #home #houseexpert #house #listreports #homeowner #hometips #homestyle #realtor #realestateagent #realestate #homediy -
Steve Young
RE/MAX Platinum Award…
RE/MAX Agent Steve Young Earns
Annual Sales Production Award
RE/MAX HQ Honors Local Agent for Extraordinary Business Performance
Arlington, TX, February 17th, 2022 – Steve Young, with RE/MAX Associates of Arlington, has qualified for the esteemed RE/MAX Platinum Club Award, which honors high-achieving real estate professionals for their service to buyers and/or sellers during the past year.
“It’s a tremendous honor to receive this prestigious award,” said Young. “As a real estate agent with RE/MAX Associates of Arlington, I’ve always been fully committed to helping my clients and consumers find the home that is right for them or get their home sold or leased. It’s truly an honor to be surrounded by such an incredibly supportive team of professionals.”
Young has been serving his community as a real estate agent with RE/MAX for 33+years and has extensive experience in all residential sales/leasing/property management, acreage, land, and farm and ranch properties.
Among Young’s list of achievements, he has earned are the 1990 Arlington Board of Realtor’s Rookie of the Year, ARBOR 2005 Realtor of the year, 2008 Chairman of the Arlington Board of Realtors, winner of the RE/MAX “True Grit award, in honor and memory of Cara Young. Young was also the 2011 Edgar Bird Award, a past Director of the Texas Association of Realtors, and a member of the RE/MAX Hall of Fame and current Chairman of the ARBOR Leasing and Property Management Committee. In addition, Young actively supports Cook Children’s Hospital, the Cystic Fibrosis Foundation, and the Cara Young Fish for Life Charities.
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