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 Better Homes and Gardens Gary Greene and we will guide you through the entire home buying process.
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.
We entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning... read moreWe entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning she was extremely up front and honest about exactly what we would need to do to get our house sold. We had an incredibly tight timeline, that she explained would be difficult to make - but she helped us make it happen and our house was under contract in 2 days! She had recommendations for all our home repair needs and they were all professional and fairly priced. She worked hard to really sell our offer for our new home - she was able to pull off the tight timeline, securing a rent back from our old house so we had time to move out, and a contingency for our new home. Definitely exceeded our expectations. She was so helpful along the way - as first time home sellers we really relied on her and we feel lucky to have worked with her! You will not regret working with Jill! read less