There Has Never Been a Better Time In Dallas Real Estate For Home Buyers

Interest rates are at historical low interest rates.

Any time mortgage interest rates are in single digits, it is a good time to get a loan. However, when rates are under 7%, even under 6.5%?? That alone should be motivation to buy a home. Today's rates are fantastic.

The media has scared too many buyers. "Mortgage Meltdown", "Credit Crunch", and "Real Estate Crash" are fear tactics used to sensationalize news stories. After all, who is going to tune in at 10pm to hear, "Real estate market is ok. It's been better but it has definitely been worse"?

In many Dallas area neighborhoods, there is a perception that real estate has slowed down dramatically

In reality, today's climate for real estate is pretty normal! However, when comparing it to 2003-2006 it just feels like it has slowed down so much.

What many consumers forget is that right after 9/11 our economy went into a tail spin. As a result, mortgage rates plummeted in order to stimulate the economic forces at work in our nation. Unfortunately, too many people see 4.5% interest rates as normal. The fact is those were the abnormal years! Today's market is really good.

Nevertheless, there is a perception that real estate is just brutal right now. There are a few corrections taking place right now that are slowing things down a bit:

• People with bad credit or other high risk factors for default are having a difficult time getting financing


• Speculators who caused an over-inflation in real estate market ruined it for many people in volitle markets (like California and Florida)


• The media has scared too many consumers into thinking it is a dark period in real estate, and they are nervous and confused

The fact is, if you have decent credit and enough money for a 5% down payment and closing costs then the real estate odds are in your favor.


Sellers are nervous. Out of fear, they are more willing to negotiate with their price

Home inventory is plentiful (good supply). When supply is up, prices must go down (or at least remain steady)

Interest rates are low. Come on, anything under 7% is a stellar interest rate!