Worst case scenario, you have to sell a home for what you paid two or three years ago.  You still come out better than paying rent.  You enjoyed tax deductions too.  If you want to move, move!

There is a phenomenon about waiting to buy.  Why would you wait?  Interest rates are not getting any lower.  Besides, is there really a big difference to you between 3% and 4% of a mortgage loan?  No. Again, there are tax deductions for homeowners.  Plus, countless studies show that homeowners enjoy a lower divorce rate and a lower high school drop out rate.  In addition, more adult homeowners go back to college than their non-homeowner peers.

Please talk to a real estate professional when making your decision.  I promise you that the media is not giving information about your neighborhood or the neighborhood you want to move to or invest in.

Good luck and don’t forget to call me if you’re in my market.  I would love to help you achieve your real estate goals.

*Published Fact – Real Estate is the single biggest wealth builder in the United States.

1)  Every market is different.  The media is your worst enemy when it comes to knowing what’s going on in YOUR real estate market.  They don’t know!  They are quoting national numbers that are based on averages.  You don’t need the nationwide average, you need to know what’s happening in your neighborhood.

2)  A Buyer’s Market and A Seller’s Market are not necessarily exclusive of one another.  Most markets in Texas are a great example of what I’m saying.  Because interest rates are so low a buyer can get much more for their money.  They qualify for a higher sales price.  So, even if the property values have not dropped  it is still a buyer’s market because they can get more house than they can when interest rates are higher.  Say a seller has only owned their home three or four years and property values have not climbed. They’ve been steady or even a very slight decline.  If he sells it for what he paid, he lived there for nothing but interest payments.  He can sell and get more house for his money because interest rates are low.

3)  Don’t assume your home is worth less or not appreciating.  Don’t trust your tax appraisal.  A lot of states are ‘non-sales price dislosure states’.  In those states, the taxing authority is often way off on true market value.  In disclosure states many tax districts don’t make adjustments for market ‘changers’ such as employment rates, city limit expansion, zoning changes, etc.  Get accurate comparable sales information from a REALTOR or buy a market appraisal from a licensed appraiser.

4) The fastest, most solid way to build wealth is through real estate.  You must own it to make money though.  If you are renting, you are buying the house for someone else.  You’re making someone else wealthy.  If you already own a home, consider buying a rent house.  There are more renters in today’s market and the interest rates are still low even for investment properties.

5)  Interest rates are in the 4s.  Are you waiting on ‘free’ money?  If interest rates get much lower it will be because our national economy is not improving.  Let’s hope that isn’t the case.  You need a place to live so you might as well own.

6)  Having said all of this about why you should buy now, let me give you another reason to sell.  The inventory of homes for sale in your area may be very limited.  If there’s little to no competition, it’s a good time to sell.  If you’re house is better than the rest and you price it competitively, you have a sale.  Now, go buy more house for the same payment you’ve been making on the higher interest rate note.

I hope this has helped you.  As always, you’re welcome to email me with questions or suggestions.  817-613-6420

Good luck!!

Yes, a REALTOR really earns their fee AFTER the offer is written.  A REALTOR negotiates on behalf of and with their client.  Once a sales contract is in place the REALTOR begins scheduling inspections, appraisals, escrow, closing and anything else required for this transaction.  In addition, the REALTOR works with each of these service providers on behalf of the client. Imagine that you are a service provider with the title company, appraisers office, etc.  Will you want to do well and work hard for someone who brings you multiple transactions throughout the year and understands the system?  Or, will you drop everything for the person who doesn’t really understand the details and you probably won’t see again for 3-7 years if at all?

As a buyer who purchases property on less than a daily basis, are you familiar with all of the lenders and the different loan programs offered by each?  Yes, different lenders can offer different types of loans.  Generally, their programs must fall within the federal guidelines.  If not, the lender won’t be able to sell the note in the secondary market.

As a seller, wouldn’t it be great if you had someone who knew these things to advise you on if the buyer might be able to perform under the conditions of the contract?  Do you know what to ask for?  Are you comfortable asking a stranger about their financial situation and credit history?  Will you believe what they tell you?

Obviously, not all REALTORS are created equally.  You should interview REALTORS that are recommended to you by people you trust.  Do business with someone who speaks to you respectfully and in terms that you understand.  Choosing a REALTOR is an important step.  Choose someone who you are comfortable with that has experience and knowledge in real estate.

Good luck!

Generally and traditionally, REALTORS® have a positive outlook and spin on the real estate market.  It’s hard to convince a REALTOR® that the sky is falling, all of America will be homeless and nobody will want to buy or sell any real property.  As usual, Texas REALTORS® are very excited about the future of homeownership in our state.  Dr. Dotzour says that for the first time he can remember, HE is more positive about the future of real estate in Texas than REALTORS® are.

He cites many indicators and facts.  One of those being the low unemployment numbers in the state combined with the high number of consumers moving out of other states and into ours.  Dr. Dotzour believes that there will be a number of state and local government employees who lose their jobs in 2011.  This is due to necessary budget cuts in Texas.  Dotzour believes that the private sector will compensate and employment numbers will stay strong.

As long as loans are available (and they are) and people have jobs, housing will be stable.  As more and more people move into Texas with very few leaving, demand grows.  This is basic economics, supply and demand.  Things look great for Texas.  We expect a slight incline to begin in the second quarter of 2011 and build steadily through 2012.  4-8% equity per year is a solid, maintainable real estate market that is good for everyone.  We do not want to see it higher because we don’t want to be California, Michigan or any other number of states that are at a negative equity increase now.  (Texas is averaging 3.6% right now.)

I hope this helps!  Let me know if I can do anything else for you.