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Steve Young
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Steve Young
June 2016 Newsletter by Steve Young
Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.
Please click on this link to view Steve Young’s Housing Trends June 2016 Newsletter Steve Young’s June 2016 Newsletter
The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.
If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
What is the Value of My Home or Property?
Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.
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Steve Young
Commuter Rail Line Construction Approved
FORT WORTH (Fort Worth Business Press) – The Federal Transit Administration has authorized the Fort Worth Transportation Authority to begin construction on the 27-mile TEX Rail commuter rail line.
The agency, known as The T, can break ground next month, procure project materials, and begin construction activities planned for the first six months.
TEX Rail will extend from downtown, across northeast Tarrant County, through North Richland Hills and Grapevine, and into Dallas-Fort Worth International Airport’s Terminal B.
The line will begin service in late 2018 and serve more than 8,000 daily riders at nine stations by the end of its first year of operation. By 2035, nearly 14,000 daily riders are projected to use the system.
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Steve Young
Superb Article re. Texas Property Tax
Perplexing Property Tax
By David S. Jones, Senior Editor, Real Estate Center at Texas A&M University
June 22, 2016/Release No. 17-0616COLLEGE STATION, Tex. (Real Estate Center) – Texans are clamoring for property tax relief. but a real estate expert for the Real Estate Center at Texas A&M University urges caution when searching for replacement revenue. Californians know exactly what he’s talking about.
“In California, Proposition 13 was supposed to keep taxes down by limiting appraisal growth rates,” said Dr. Charles Gilliland, research economist. “But the benefits have been far from beneficial. Texans can learn from the changes Californians made and what ultimately went wrong.”
California voters passed Prop 13 in the late 1970s to limit annual home appraisal increases to 2 percent as long as the property’s ownership remained unchanged. Back then, there were predictions the move would cause assessed values to lag market values. Those proved to be correct.
“Decades later, the gap between California’s market and assessed values ensured that assessed values continued to rise even when home prices fell,” said Gilliland.
“Homeowners faced with diminished home value angrily demanded to know how their taxable value could keep rising.”There have been other unintended consequences of Prop 13. New homebuyers found they did not qualify for the substantially lower taxes applied to long-term homeowners. Long-term homeowners were reluctant to sell; newcomers and younger homeowners feared the higher taxes. All that led to a negative impact on California’s public schools.
“The U.S. Supreme Court upheld Proposition 13,” said Gilliland. “That suppressed school district revenue growth and virtually eliminated local control over most school funding.”
Gilliland suggests any evaluation of alternative tax policies consider four important questions.
- Will it provide an adequate tax base to support the budgeted activity at an acceptable rate?
- Will the tax inflict a minimal distortion to the signals guiding economic decision making?
- Will the tax system be readily understandable?
- Will the tax policy be regarded as “fair”?
“Property taxes are an emotional subject,” said Gilliland, “especially when property owners receive their annual notices from the local appraisal district. Texas property taxes are among the highest in the nation, and people are looking for ways to reduce the size of the bite taxes take out of their wallets.
“While property taxes are something nobody likes, including me, Texans should be careful about how they try to change the system. They could end up doing more damage to the economy,” said Gilliland.
“It’s complicated. If you cut property tax rates, you could end up cutting school funding or limiting expenditures on cities and counties. An across-the-board adjustment could get the state more involved in local decision-making. The state could get in the business of determining local tax rates.”
Gilliland notes that when all state and local taxes are considered, the Texas tax burden ranks much lower than most states.
Gilliland’s article, “Tax or Consequences,” is available on the Real Estate Center’s website.
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Steve Young
Real Estate Center Wins in Houston
Over the years I rely on and have used many articles and statistics from The Real Estate Center so I always like to post about this great organization, their professionalism and honors they receive. Below is again more proof of their excellence.
By David S. Jones, Senior Editor, Real Estate Center at Texas A&M University
June 20, 2016/Release No.16-0616COLLEGE STATION, Tex. (Real Estate Center) – A magazine, podcast, and annual report produced by the Real Estate Center at Texas A&M University won top business communication honors in Houston Thursday.
Each won a Bronze Quill Award of Excellence from the Houston chapter of the International Association of Business Communicators (IABC) .
The Center was recognized for its quarterly periodical Tierra Grande magazine, its weekly Red Zone podcast, and its unique annual report/calendar combination.
The awards came less than two weeks after Tierra Grande was honored with the top international award, a Gold Quill, which was presented at IABC’s global conference in New Orleans.
Forty-five awards were presented at the IABC/Houston gala. Coincidentally, the Real Estate Center is 45 years old this year. Center communications have received 213 local, state, regional, and international awards since its founding in 1971.
Funded primarily by Texas real estate licensee fees, the Real Estate Center at Texas A&M University was created by the state legislature to meet the needs of many audiences, including the real estate industry, instructors, researchers and the general public. The Center is part of Mays Business School at Texas A&M University.
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Steve Young
THE MAGNA CARTA-Enduring Principles of Liberty
THE MAGNA CARTA – Latin for The Great Charter of Liberties
On this day, June 15, 1215, in a field at Runnymede, King John affixed his seal to Magna Carta. Confronted by 40 rebellious barons, he consented to their demands in order to avert civil war.
Magna Carta was written by a group of 13th-century barons to protect their rights and property against a tyrannical king. It is concerned with many practical matters and specific grievances relevant to the feudal system under which they lived. The interests of the common man were hardly apparent in the minds of the men who brokered the agreement. But there are two principles expressed in Magna Carta that resonate to this day:
“No freeman shall be taken, imprisoned, disseised, outlawed, banished, or in any way destroyed, nor will We proceed against or prosecute him, except by the lawful judgment of his peers or by the law of the land.”
“To no one will We sell, to no one will We deny or delay, right or justice.”
Inspiration for Americans and The Role for Magna Carta in America
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Steve Young
May 2016 Newsletter by Steve Young
Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.
Please click on this link to view the Steve Young’s Housing Trends May 2016 Newsletter: Steve Young’s May 2016 Newsletter
The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
Free Home or property Market Value Report
Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to work with you in the future.
Sincerely yours,
Steve Young
RE/MAX Associates
4105 S Bowen Rd Arlington TX 76016 817-276-5149 -
Steve Young
Blueberry Cake Please!
Each year on the first Friday in June, people participate in National Doughnut or Donut Day. This day celebrates the doughnut and honors the Salvation Army Lassies, the women that served doughnuts to soldiers during WWI.
In 1917, the original “Salvation Army Doughnut” was first served by the ladies of the Salvation Army. It was during WWI that the Salvation Army Lassies went to the front lines of Europe. Home cooked foods, provided by these brave volunteers, were a morale boost to the troops. The doughnuts were often cooked in oil inside the metal helmets of American soldiers. American infantrymen were then commonly called “doughboys.” A more standard spelling is donut.
Looking for a great deal on donuts for National Doughnut Day? Look no further than these listed below….
Krispy Kreme – One free donut of any variety, no purchase necessary.
Dunkin’ Donuts – Free classic donut with any beverage purchase on June 3rd.
http://www.nationaldaycalendar.com/national-doughnut-day-first-friday-in-june/
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Steve Young
Just Listed & Getting Qualified for Your Loan
Finding out if you can qualify for a loan and how much you can borrow is the most important “first steps” you can do in beginning your home search and purchase process. And, in this current market of low inventory and multiple offers getting a complete approval of your ability to purchase is many times the deciding factor in the seller choosing your offer over others! Check out this great article…Pre-Qualified Vs. Pre-Approved – What’s The Difference? by Investopdia then call April to find out more to get you all ready to go!
To get pre qualified for this home or any properties please call April Smith with NLR Mortgage at 210-412-0142 or email April at april.smith@nrlmortgage.com
Click anywhere on the flyer below to see the full presentation
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Steve Young
Welcome to the Month of June, it’s…
…National Country Cooking Month. For me country or cowboy cooking is whatever I can fit in my iron skillet! Well, maybe not everything but at least the first 2 main courses which almost always has potatoes in it. After that of course is the grill!
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