HOW's THE MARKET?
A day doesn't go by when we as REALTORS get asked the question ?????? How's the Market? Remember that National Media is very different from Local Media. Yes times are tough and homes are going into fo
reclosure but you would be very surprised to see the numbers. Do you know what your local numbers are? Do you know what the market is for a specific area in your market?
I have been doing the statistics since 2006 and you can definitely see a trend for slow vs. busy times, but you can also see that people are still buying and selling and that the old adage of buying a home is an appreciative asset. You must take into consideration, that in order for your home to appreciate you must have bought it at the right price, you must practice routine maintenance on your home and most importantly you must have lived there for at least 5-7 years.
Homes were never intended to be a flip items, that is why we are able to have 30 year mortgages, although some cars cost as much as a starter home they are still on a 5-7 year note. Yes, don't get me wrong sometimes there are great deals to be had, in today's market, unfortunately my opinion is that if you have the money to buy homes that are great deals DO IT! People still need a place to live and rent is higher than mortgages these days. That is because the ability to qualify for a mortgage is getting harder and the fact that people still need a place to live is still very REAL! With all that said, buying a home is definitely and investment and your ROI is not intended to be overnight.
If you are looking to buy a home you want to remember first and foremost that your home is somewhere that you are intending to live for a while and if you lose your job you will still need a place to live so make sure when you are looking to buy you are staying within your means. I tell all my clients, what is a monthly payment that you are comfortable with, considering the fact that you like to go out to eat and take yearly vacations. That number is very different from the number that they are given from the bank. It is our job as REALTORS to help buyers keep this outlook first and foremost in their mind since the future is not guaranteed.
So back to the question, How's the market? Well, if you live in one of the cities below in McLennan County take a look at your numbers. If you don't ask a REALTOR to give you the numbers for your area.
If you would like a more detailed market analysis for your home, please feel free to contact me, Malisa Spivey at 254.495.7735, I look forward to empowering my clients with information. Feel free to get to know me better by visiting my website at www.MoveWithIRG.com.
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