Home ownership is an important and defining part of the Katy lifestyle. Now that the tax credits for first-time and repeat homebuyers have expired, many people are wondering if this is a good time to buy a Katy home. The answer is yes!
Even without the tax credits, there are many opportunitites in today's Katy housing market including affordable prices and low mortgage rates. Market conditions may change and these opportunities may not be around for long, so homebuyers shouldn't wait.
Plentiful Katy real estate inventory provides a great choice of homes in all prices, styles, locations and ages, including new construction. Many existing home owners who postponed trading up, downsizing or relocating due to market conditions are now ready to sell. Houses in Katy, both south and north of I-10, go on the market daily with many of these being more affordable than they were in the recent past. Foreclosures still exist, too.
Like Katy inventory and pricing, mortgage rates are at very favorable levels; some weeks mortgage rates still break records for their level lows. However, it is very important to know that mortgage ratges are extremely sensitive to market forces and can change very quickly. While nothing indicates that rates will soar in the near future, even a slight increase can push monthly payments up to the point where Katy homebuyers might miss out on their first choice for a new home.
Lenders are scrutinizing borrowers more today than anytime in the past. To ensure that the process goes smoothly, buyers must be prequalified for a loan before they make an offer on a home; otherwise, it won't be considered by the seller. For a refferal to a great Katy mortgage lender, one who can make it happen for you, contact me.
For a Realtor with 21 years experience selling Katy real estate, contact me via my blogsite or phone me at 713-818-2404. I work with both sellers and buyers to create a win/win atmosphere and a successful, profitable outcome.
Comments(0)