Should you buy now??

Yes, this is the ideal time for buyers! Interest rates are rising a little , ranging from 6.375 to 6.75 but hey, that is still good. The average interest rate for years has been 8.5%.

What about the prices you ask? We are still “flat” in our sales prices compared to last year. Why wouldn’t you come in on the market at this time instead of waiting for us to go up, which I believe we will? We are still strong in Texas and I think the Sunbelt will be the first to recover. Of course as long as the election is in the news, you buyers and sellers are uncomfortable at times to make a big investment. But, looking at the whole picture, and from where I am, it is an excellent time to buy! In all our Statistics for our cities which are posted right here on our Blog every month, our pending sales are down! Which means you buyers are not out there buying! Why not? Prices are flat and the inventory is getting lower with fewer choices. Yes, the 100% financing is gone which eliminates some of you, but you need to visit with us and find out other options that you do have in buying a house! Call us today.

Foreclosures are available, as well as Short Sales. What is a Short Sale? That’s when the seller cannot sell his house for what he owes and the Lender steps in to take the loss on a sale but the seller walks away with nothing and will receive a 1099 from the Lender for the loss which he has to pay taxes on. It is better than a foreclosure on your credit record but you have to be in pretty bad financial shape for the Lender to come in and help! If you have assets, forget it!

Some foreclosures are good deals but not always and you have to do whatever the Lender throws to you to sign and accept. Don’t expect repairs to be done and your stuck with checking out the property yourself – no disclosures or history. There are risks involved. Short Sales take forever. The Lender will not start making a decision on a short sale until they receive an offer!!! If you have 2 month plus, you might get a “deal”, but lots of pain!

You don’t need to go with foreclosures or short sales to get good buys! We can find you good houses with good values in this marketplace. Check out the market on our website or our Blog with the Statistics for your different cities. You can also make an appointment with us to go over in our Planning and Strategy Session to give you a deeper understanding of the best options you have in this marketplace.