How’s the Spring TX real estate market fairing? Is it getting better or is it getting worse? In a word “BETTER”.
Our months of inventory has decreased and is creeping closer to a balanced market at 6.2 months. According to the National Association of Realtors, nationally the real estate market has 10 months of inventory.
Our Spring Texas real estate market has out-performed the national real estate market through out all of 2008 and it continues to do so.
If you are thinking about buying a home now is the time. With 6.2 months of inventory, the market is coming into a more balanced position and the negotiating power that buyers have enjoyed the majority of 2008 is starting to disappear.
And contrary to what you may have heard, lenders so have money to lend. Getting a loan will require more documentation than previously but there is MONEY available for loans. Plus interest rates are still very attractive with 30 year rates at around 6%.
If you needed another reason why now is a good time to buy a home, then buy before the minimum down payment on FHA loans increases. On January 1, 2009 the minimum required down payment increases from 3% to 3.5%.
If you are thinking about selling your Spring Texas home, contact Jill Wente at 281.804.8626. If you are considering purchasing Spring TX real estate, please contact Jill Wente, Spring Texas Real Estate Agents and we will guide you through the entire home buying process.
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The data represented is from the Houston Association of Realtors MLS for Area 13. Area 13 covers the geographic boundaries of East – I45 to West – Hwy 249 to South – Beltway 8 to North – Spring Cypress.
It was an awesome experience working with Jill. She was very professional but we also had plenty of laughs during... read moreIt was an awesome experience working with Jill. She was very professional but we also had plenty of laughs during the whole process. She was really good at explaining & informing us every step of the way, she is quick to respond to our text messages, emails or phone calls, she takes action quickly especially in getting answers from the builder, she is always prepared and takes her time to help us. We never felt rushed. She always had our best interest. Jill made our home buying experience fun and easy, and we are very thankful. We highly recommend her. read less