Why Buy Now?
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Despite the steady drumbeat of doom and gloom financial stories coming out of the national news media, there are several reasons why there may not be a better time in the next twenty years to buy a home in the Dallas/Fort Worth area. Are you curious?
1. Low interest rates Interest rates are near 30 year lows. A lower rate means that you can obtain more home for the same payment.
2. Steady or rising prices Home prices in the D/FW area generally continued to rise or at least hold steady throughout this mortgage crisis. Falling home prices have occurred mainly in areas of California, Florida, and Las Vegas, Nevada, because those were the areas where the speculating, during the "bubble", was most feverish. The D/FW area has been a model of stability throughout this period (please see the related article from the Dallas Morning News). If you live in the D/FW area and you're waiting for prices to fall, you may never buy a home.
3. Affordability The Dallas/Fort Worth area is one of the most affordable major metropolitan areas in the country to live. Put simply: you get more for your money here than you would virtually anywhere else in the nation, while still being able to live in or near a major city.
4. Stable Economy The economy in Texas is comparatively strong, and the D/FW area is one of its main cogs. Texas produced half of the employment positions produced in the entire country last year. Sure, it's not as strong as we would like, but it is stronger than almost any other geographical area. A strong economy means people need to find homes for their families to live in, so they can work in the area. People wanting to buy homes translates into a vibrant market where prices move up.