Buyers Market Updates

The media will have everyone that is thinking of selling or buying home believe that this is a bad time for both. Far from teh truth in this market! Let's start with the basics:
Interest Rates are LOW! Posted rates today are 6.0% for conventional loans with good credit. They are as low as 5.5% for those eligible to use the Texas Veterans program
Home prices are competetive in each market! A good home that is in a desirable location will sell, so why wait and miss out? If the price drops a little over the next few months, and interest rates rise, you won't gain anything.
Here is an example: To buy a $218,900 home at 5.5 percent is $994.31 a month. To buy next year at $197,010 at 6 percent will cost $994.94. Interesting!

As for sellers. again a well maintained home in a desirable location will sell for teh market rate. And, every neighborhood has a different set of circumstances. Don't believe that what sells "down the road" is the same as your particular situation. Get a Realtor to provide a CMA and review it with you.

We are ready to assist with any of your real estate needs, so let us know what we can do for you today!