Now is a Really Good Time to Buy
When you are contemplating buying a home in the Bryan – College Station, Texas area there are a number of points to consider whether you are a First Time Home Buyer or an experienced one.
Find a Realtor located in the area you are considering moving to. Their familiarity with both the area and the market can be a great benefit to you in your buying decision. Your Realtor will be able to provide you with the necessary information to make informed decisions and put you in the best position during your real estate purchase. This is one of the biggest transactions you will make in life. If your Realtor can not provide some of the following information it is probably best to look for one who can.
Right now the economy is dictating the market condition for housing. Despite how the news media portrays the housing market, they can only generalize because markets vary from area to area, town to town; even places only 100 miles apart can have very divergent real estate markets. Ask your Realtor to provide the latest Market Trends for the area(s) that you are interested in. These statistics show you the average price of homes fitting your criteria and what the sale price was compared to the asking price. Armed with this information you can make an informed offer without embarrassing yourself or the Seller.
Examples of City-Wide and Subdivision Market Trend Information
Market trends for College Station, Texas gives the stats for the entire area within the city limits. This information can be obtained for any specific subdivision within the city as well. Reatta Meadows in College Station is a good example. This subdivision consists of one hundred and sixty-one home sites.
Even though the market is slow, it does not mean, that the area you are looking in has been seriously affected with lower home values. There are some areas that have not suffered a loss in value, but have actually shown some appreciation.
Before you set out to buy, prepare a list of what you want and need from a home. Prioritize the list with the ‘must haves’ at the top, but be prepared to compromise. With your wish list and the important information provided by your Realtor in hand, you are prepared to score the properties you have chosen to view.
5 Reasons why real estate is still a good investment making it a good time to buy a home.
1. There is only so much space on the planet. As the population grows the amount of available living space on earth with shrink. Thus a continued demand for space. There will be ups and downs, but in the long haul you will always get your money out of a buying a home. Sooner or later the market will clear. The U.S. is expected to grow by another 100 million people in 40 years. They have to live somewhere. Demand will eventually outpace supply.
2. You are building equity every time you make a payment; like putting money in the bank in a forced savings plan.
3. It offers some inflation protection. Historically appreciation, over time, outpaces inflation. It sure beats the interest rate you earn at a bank.
4. Critical deductions on your taxes.
5. The freedom to live the way you want. The one benefit to owning that never changes, is that you can paint your walls whatever color you want! (Generally speaking – there might be some community restrictions concerning the exterior) How many landlords would let you do that?
Historically low mortgage rates, a good supply of homes on the market and the potential of buying in an area where prices have been affected make this An Excellent Time to Buy real estate in Bryan-College Station, Texas.