Aug. 11, 2010
Some skydivers jump out of the plane on their own. Others – especially first-timers – need a little encouragement. They've planned to jump. They want to jump. But when they stand in front of that open door, they freeze.
Maybe you've been taking steps toward buying a home and now you're frozen. If you're looking for a little encouragement, here goes:
Is that the whole interest rate?
I just read in a Wall Street Journal article that interest rates (as of this writing) are under 4.5% on a 30-year fixed mortgage. That's less than half what rates were when I purchased my first home.
A lower rate boosts the amount of money you can borrow. Some lenders are offering 15-year mortgage rates below 4%. These rates are great news for anyone thinking about buying a home.
It's good to be in Texas
If you're skittish due to the financial and real estate markets of the past few years, take a closer look at the numbers in Texas. What's interesting is what you
won't find.
You won't see the big run up in real estate prices and subsequent collapse that occurred in places like California, Nevada, Michigan, and Florida.
A nice selection is out there
In most Texas cities, there's a fairly balanced real estate market. It may tip toward buyers here or sellers there, but you won't find many spots where bidding wars and offers above the asking price are the norm.
You might qualify for buyer assistance
There are dozens of buyer-assistance programs available across the state. You can find out if you qualify for one by visiting TxHomePrograms.org.
Professional help is available
Texas REALTORS® work with buyers and sellers every day. They understand the intricacies of real estate transactions, keep up with the latest laws, and know local neighborhoods inside and out.
Yes, if you've been thinking of buying a house, there are several good reasons to make the leap to homeownership now.
