EARLY VOTING IS OCTOBER 19 - 30, 2015
WHAT IS PROPOSITION 1?
Proposition 1 empowers you to vote to cut your property taxes and protect your home from additional taxes. On November 3, voters will vote on Prop 1 and decide whether to amend the Texas Constitution to increase the homestead exemption by $10,000 (bringing the total exemption up to $25,000) and ban real estate transfer taxes - or taxes on home sales - premanently.
Sellers, would you clear up the clutter in your home if you could increase your asking price by 3% to 5%? A survey done by the Consumer Reports National Research Center shows that this and other changes will do just that.
According to Consumer Reports, basic cleaning and decluttering, simple kitchen and bathroom upgrades, painting the right spaces, and sprucing up your curb appeal are all low-cost investments that can land you hundreds of dollars in return.
Get tips on what fixes to make, the cost if you do them yourself or hire an expert, and how much of a return you get on those investments in "Top 5 ways to boost the value of your home" from Consumer Reports.
®®Despite a drop in total residential sales in 2014, the total dollar volume outgained the previous year by almost six percent (6%). Sellers are continuing to benefit from the lack of inventory throughout the year. Not only did we see an increase in the average single-family sales price, but Months Inventory continued to stay around three percent (3%). This indicates that once a home goes on the market, it has a good chance of being sold within three months, depending on the location and price. Higher end homes are typically on the market longer.
Buyers can still benefit from historically low interest rates, even though it may take them longer to find their perfect home. It's also a good reminder for buyers to talk to a Lubbock REALTOR for accurate information about homes, because most national websites can't show the true value of a home in our market.