We’re headed into the holiday season, and as I talk to my friends about work, one of the questions that has been popping up recently, is, “Is now a good time to buy a house?”
The short answer?
And no, it’s not just because I want to help you find a house for you to call home, which I totally do! There are SO many reasons why now REALLY is a good time to buy a house.
Now, I will say first, that buying a home is huge decision to make on both a personal level and a financial level, whether you’re a first time homebuyer, or you’ve taken a ride on the home buying express before. But, if you are considering buying a house and are trying to figure out if it’s time to jump in, here are a couple of reasons why I would say, Go For It!
- Less Buyer Competition – Over the summer the average Days on Market (DOM) for a listed home(at any price range) was less than 30, which is crazy! Buyers were having to be extremely aggressive to have their offers considered and many homes had multiple offers. It creates a stressful environment in which to look for homes, as you never know if a house that you just looked at, may have a contract on it by the end of the day! Right now, the season has slowed down a bit, giving buyers the time to actually see the homes, and make a less stressed out offer. Chances are, you won’t be fighting tooth and nail to get your offer in before someone else’s.
- Interest Rates– Good News! Interest rates are STILL at or near record lows. Even small reductions in the interest rate can significantly boost the purchase price you can afford when buying a home.
- Motivated Sellers – For some sellers, if their house has been on the market since the peak season, they are probably really ready to sell that house! Negotiating may be easier, and you could get a better deal on your new house!
- Housing Prices are on the Rise – Over the last several years, the housing market in Texas has done splendidly, and home values continue to rise at a moderate pace, even when the national housing market fluctuates. Much of this is due to the economy in Texas (always bigger and better here!) Investing in a home now, allows you to build equity, and if you decide to sell down the road, can lead to great reward for you as well.
As a Texas REALTOR®, I can show you how our current housing market conditions factor in to your goal of buying a home. You can count on me to put your interests first while I assist you during this exciting process. Let me know how I can help!
cited source: http://www.texasrealestate.com