Get off the fence!!!! It’s going to fall over with you on it. In Texas, we are in a very unique market. We never experienced the exorbitant equity increases that other states did. So, we’ve not had to experience the huge drop in prices that other states did. Real Estate is VERY local and varies from one street to the next. So sure, some areas have dropped in value but none have dropped tremendously.
Worst case scenario, you have to sell a home for what you paid two or three years ago. You still come out better than paying rent. You enjoyed tax deductions too. If you want to move, move!
There is a phenomenon about waiting to buy. Why would you wait? Interest rates are not getting any lower. Besides, is there really a big difference to you between 3% and 4% of a mortgage loan? No. Again, there are tax deductions for homeowners. Plus, countless studies show that homeowners enjoy a lower divorce rate and a lower high school drop out rate. In addition, more adult homeowners go back to college than their non-homeowner peers.
Please talk to a real estate professional when making your decision. I promise you that the media is not giving information about your neighborhood or the neighborhood you want to move to or invest in.
Good luck and don’t forget to call me if you’re in my market. I would love to help you achieve your real estate goals.
*Published Fact – Real Estate is the single biggest wealth builder in the United States.
leighyork 