FireDream

Texas-The Housing Mecca of the Nation?

Forbes recently reported what a lot of us Texans already know: that the Lone Star State is a great place to live.  In fact, out of the 40 major metropolitan areas surveyed, four out of the top ten cities in which to buy a home were in our great state.

Noting our business-friendly environment that generates  “jobs and tax revenue”, the four selected cities are as follows: Houston (number one), Austin (number two), San Antonio (number five), and Dallas (number six).  Houston was listed in another Forbes article published earlier this year as being one of the best cities for bargain hunters, and still another one which focused on tech cities.  Here in Dallas, we’re seeing major business developments, expansions of our mass transit systems, and more companies moving in.

Why did these cities make the list?  Affordable housing, good jobs, and cultural benefits are just a few of the items that Forbes included.  In Dallas, for instance, the median home price is about $150,000.  Especially when considering the lower interest rates we’ve been seeing this year (and the fact that the Fed didn’t adjust rates in its most recent meeting), it means that a lot more people can afford to buy rather than rent.  And home prices in many Texas areas (including Dallas) are increasing-bucking the national trend.

As we begin to come out of this “housing funk” (a delightful term used by some media outlets) you can be sure that Texas will continue to lead the recovery.  That means that right now-while home prices are still very reasonable and there are a greater number of homes for sale-is a great time to consider purchasing a home.

Make a list of all of the things that you want most in a home, the things that you’d like, but would be willing to compromise on, and a list of things that you absolutely do not want in your next house.  Start attending open houses in neighborhoods that fit you and your lifestyle.  And take time to research current rates, pricing and payment amounts to double check what you’re truly able to afford.  (Hey-RateWindow can give you all of that!)  Once you have all of the information in hand, narrow down your house choices, make an offer, close the deal and move on in to your own piece of heaven (also known as the great state of Texas).

This blog is intended for informational/entertainment purposes only and is not meant to provide any financial or legal advice.