Real Estate Insights with Austin Yago, Realtor

06/07/2024

Signs don't wait for it to stop raining. Besides.... they are easier to put in the ground then!

06/07/2024

When it comes to inventory, the headlines don't tell the whole story! Even though it may be climbing - historically, inventory levels are still low! Take a look at a more historical look at inventory levels.

06/01/2024

Excited to announce my new listing going live on June 10th! We will have more photos soon but click the link below for more information:

https://portal.onehome.com/en-US/share/1208537P89135

05/14/2024

It's that time of year again... Time to protest your property taxes!!!

Interested in having an informed discussion about properties that have sold around you and how those sales may impact the value of your home? It would be my pleasure to assist you. Contact me today to get started. (214)662-3917 -or- [email protected]

Of course, here are the hashtags without the numbers:

04/22/2024

04/22/2024

Does It Make Sense To Buy a Home Right Now?

Thinking about buying a home? If so, you're probably wondering: should I buy now or wait? Nobody can make that decision for you, but here's some information that can help you decide.

What’s Next for Home Prices?
Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will happen with home prices.

In the latest survey, those experts say home prices are going to keep going up for the next five years (see graph below):

Here’s what all the green on this chart should tell you. They’re not expecting any price declines. Instead, they’re saying we’ll see a 3-4% rise each year.

And even though home prices aren’t expected to climb by as much in 2025 as they are 2024, keep in mind these increases can really add up over time. It works like this. If these experts are right and your home's value goes up by 3.78% this year, it's set to grow another 3.36% next year. And another 3.87% the year after that.

What Does This Mean for You?
Knowing that prices are forecasted to keep going up should make you feel good about buying a home. That’s because it means your home is an asset that’s projected to grow in value in the years ahead.

If you’re not convinced yet, maybe these numbers will get your attention. They show how a typical home’s value could change over the next few years using expert projections from the HPES. Check out the graph below:

In this example, imagine you bought a home for $400,000 at the start of this year. Based on these projections, you could end up gaining over $83,000 in household wealth over the next five years as your home grows in value.

Of course, you could also wait – but if you do, buying a home is just going to end up costing you more.

Bottom Line
If you're thinking it's time to get your own place, and you’re ready and able to do so, buying now might make sense. Your home is expected to keep getting more valuable as prices go up. Let’s team up to start looking for your next home today.

04/15/2024

Want reliable results when searching for a home? Check out my app!

App.ebby.com/austinyago

03/31/2024

I would like to express my sincere gratitude to all those who have chosen to follow this new page. Your unwavering support is deeply appreciated and serves as a significant source of motivation for me.

03/31/2024

From my family to yours...May the true meaning of this Easter Sunday inspire you to newfound hope, peace and joy. 🕊️

03/31/2024

UNLOCKING THE DOOR TO HOMEOWNERSHIP: TOP STRATEGIES FOR SAVING FOR A DOWN PAYMENT

As a realtor, I understand that for many individuals and families, owning a home is the ultimate dream. However, one significant hurdle on the path to homeownership is saving for a down payment. While it may seem daunting at first, with careful planning and disciplined saving, achieving this milestone is entirely within reach. In this blog post, I'll share some of the best strategies for saving for a down payment, empowering you to turn your homeownership dreams into reality.

Set a Clear Savings Goal:

Begin by determining how much you need for a down payment. Typically, lenders require a down payment ranging from 3% to 20% of the home's purchase price. Once you have a specific target in mind, you can create a realistic savings plan to achieve it.

Create a Budget:

Track your income and expenses to identify areas where you can cut back and redirect funds toward your down payment savings. Consider creating a monthly budget that prioritizes saving for your home purchase.

Automate Your Savings:

Set up automatic transfers from your checking account to a dedicated savings account earmarked for your down payment. By automating your savings, you'll ensure consistency and discipline in reaching your goal.

Explore Down Payment Assistance Programs:

Investigate down payment assistance programs offered by government agencies, nonprofit organizations, or local municipalities. These programs can provide grants, loans, or other assistance to help qualified buyers secure a down payment.

Cut Unnecessary Expenses:

Evaluate your discretionary spending and identify areas where you can cut back. Consider dining out less frequently, canceling unused subscriptions, or finding more affordable alternatives for your everyday expenses.

Increase Your Income:

Explore opportunities to boost your income, such as taking on a part-time job, freelancing, or monetizing a hobby. Supplementing your primary source of income can accelerate your savings growth and shorten the time needed to reach your down payment goal.

Utilize Windfalls Wisely:

Put unexpected windfalls, such as tax refunds, work bonuses, or inheritance, directly into your down payment savings. While it may be tempting to splurge, prioritizing your long-term goal of homeownership will pay off in the end.

Downsize Your Living Situation:

Consider downsizing your current living situation to reduce housing expenses and free up more money for saving. Whether it's moving to a smaller apartment, renting out a room, or temporarily living with family, downsizing can significantly accelerate your savings progress.

Monitor Your Progress Regularly:

Keep track of your savings progress regularly to stay motivated and make adjustments as needed. Celebrate milestones along the way to keep your momentum going. Accountability is key! If you struggle with holding yourself accountable work with a family member, friend, or Realtor who can check in and help guide you along with their team of professionals.

Stay Disciplined and Patient:

Saving for a down payment requires discipline and patience. Remember that every dollar saved brings you one step closer to achieving your goal of homeownership. Stay focused on the end goal, and don't get discouraged by temporary setbacks.

In conclusion, saving for a down payment is a critical step on the journey to homeownership. By implementing these strategies and staying committed to your savings plan, you'll be well on your way to unlocking the door to your dream home. As a realtor, I'm here to support you every step of the way and help you navigate the path to homeownership with confidence.

03/31/2024

🏡 Exciting News for my North Texas Community! 🌟 I've got to give a shoutout to a fantastic local business that's veteran-owned and truly excels in their craft! 🎉 Whether it's big or small, they've got you covered! 💪 Reach out to Evan, and rest assured, your needs will be met with professionalism and care. Let's support our local heroes! 🙌 🏡

Maintaining properties in Plano and surrounding areas. Feel free to shoot us a message if you are interested in landscaping services! 🌳

03/31/2024

THE POWER OF REAL ESTATE: BUILDING WEALTH AND A LASTING LEGACY

Blog Post 1 | Written by: Austin Yago | Feb. 18, 2024

Real estate has long been recognized as one of the most stable and potent vehicles for wealth generation and legacy building. Unlike stocks and bonds, which can be abstract and volatile, real estate offers tangible assets that provide multiple streams of income and benefits. Here's a closer look at how owning real estate can positively impact your financial future and help you build a lasting legacy.

Tangible Asset Value
Real estate is a tangible asset, meaning it has a physical form that can't vanish overnight due to market fluctuations. Over time, real estate has consistently appreciated in value, offering owners not just a place to live but a steadily increasing asset. This inherent value provides financial security and peace of mind, knowing you have a tangible investment that can withstand economic ups and downs.

Passive Income Streams
One of the most immediate benefits of real estate investment is the potential to generate passive income through rental properties. This income can provide a steady cash flow, enhancing your financial freedom and allowing you to reinvest in additional properties, thereby accelerating your wealth-building journey. Furthermore, as you pay down property mortgages, your equity—and consequently your wealth—grows even more.

Tax Advantages
Real estate ownership comes with significant tax benefits that can contribute to wealth accumulation. Deductions can often be made for mortgage interest, property taxes, operating expenses, and depreciation. Additionally, real estate investors can benefit from capital gains exclusions and 1031 exchanges, which defer capital gains taxes when you sell one investment property and purchase another. These tax advantages keep more money in your pocket, helping you to build wealth more efficiently.

Leverage
Real estate allows for leverage in a way that other investments do not. You can purchase property using borrowed capital, controlling a large asset with a relatively small initial investment. This leverage can increase the rate of return on your investment compared to buying the property outright. As property values increase, your equity grows, but your debt remains the same, magnifying your investment's value.

Inflation Hedge
Real estate is considered a strong hedge against inflation. As living costs increase, so do rental rates, and property values tend to rise in tandem with inflation. This means your real estate investment not only retains its value but can also increase in value, protecting and enhancing your wealth over time.

Building a Legacy
Beyond the financial gains, real estate offers a unique opportunity to build a lasting legacy. Properties can be passed down through generations, providing not just wealth but also a sense of continuity and family history. Real estate can also be used to support charitable causes, through donations or by creating spaces that benefit the community, further extending your legacy beyond your immediate family.

Community Impact
Investing in real estate allows you to contribute positively to communities, whether through improving properties, providing quality housing, or supporting local economies. This impact can create a lasting legacy of improvement and growth within communities, making real estate investment not just a personal wealth strategy but a way to contribute to the broader social good.

Conclusion
The journey to building wealth and a lasting legacy can be complex and challenging, but real estate offers a clear path forward. With its tangible value, income potential, tax advantages, and ability to hedge against inflation, real estate stands out as a powerful tool for those looking to secure their financial future and leave a lasting impact. Whether you're just starting out or looking to expand your portfolio, the world of real estate opens up a realm of opportunities for building wealth and creating a legacy that endures.