Home prices are on their way back up

May 18, 2011

We’ve been in a real estate buyer’s market since the recession crept up a few years ago, but the situation is starting to reverse itself. According to the Real Estate Center at Texas A&M University, the median price for a home in Texas rose two percent since January 2010. Currently, the value is $139,100. However, here in Bryan-College Station, buyers are still seeing lower housing prices. In February 2010, the median price for a home in this area was $165,400. In January 2011, that figure dropped to $147,700 (the lowest since August 2009), representing a 10 percent decrease.

Bryan-College Station is a growing region with lots of activity and one of the lowest unemployment rates in Texas . It won’t be long before the trend that is occurring through most of the state will hit Bryan-College Station. There’s still time to take advantage of record low home prices while the housing market still favors the buyer.

Stylecraft Builders builds new homes and communities. We’ve been seeing plenty of activity in spite of the economic downturn that hurt so many areas. We still have new homes under construction, so, if you want to get the best value by customizing one of these properties, now is the time to act. Contact us to find out what’s happening in the Bryan-College Station housing market and to learn more about buying a brand new home before the market pricing rises!


5 Reasons You Should Buy a Home Now

January 28, 2010

I saw a television commercial with a family sitting on a bench in front of a home for sale, just staring at the house from a distance. The point of the ad was that these people were told to wait before buying a home, so that’s literally what they did.

Sadly, far too many potential buyers are doing this same thing. They’ve been listening to naysayers who are paralyzing buyers with fear. In reality, now is the best time to buy a home, and here’s why.

Reason #1: You can get a tax credit if you buy before April 30, 2010.

Whether you are a first-time or repeat homebuyer, the government is offering an incentive to buy a home. First-time homebuyers can get an $8,000 federal tax credit and repeat buyers can get up to $6,500. Get more information here.

Reason #2: You can get more house for the money.

Home prices have been dropping for some time, although the numbers are starting to rebound. You can only really tell you’ve hit bottom when you start to move back up, and we’re seeing that happen. Based on current studies, like the Standard & Poor/Case-Schiller Home Price Indices, home prices are now improving, so the sooner you act, the better the value.

Reason #3: Mortgage rates are in your favor.

Not only can you get a great value on the purchase of a home right now, you can finance it for an incredibly low rate. So your dream home is even more affordable!

Reason #4: You have more bargaining power.

Sellers are very motivated and may be willing to make more concessions in order to court a serious, qualified buyer. If you’re looking to have your closing costs covered, you have more leverage now, when the market is still in a regrowth phase.

Reason #5: Lenders want qualified buyers.

Yes, the reins have been tightened by some mortgage lenders, but not all. Lenders will never make any returns if they don’t invest in buyers. You might need to work a little harder to find a cooperative lender, but the payback is that you reap the rewards of the first four reasons listed here. Need help finding a lender? I can help.

Stop waiting. Start shopping!