5 Facts About Central Texas Real Estate

Dated: 03/31/2016

Views: 587

Facts You Should Know About Today’s Central Texas Real Estate Market

Every market is different and when it comes to investing in Central Texas real estate, it’s important to know all the facts.

With low interest rates, an abundant supply of homes and affordable prices, this is an ideal time to invest in Central Texas.

 

Central Texas real estate is different. With opportunities like these, now may be the ideal time to build wealth through property investment.

Get the local facts from your Austin area REALTOR® today. Few investments hold value like Central Texas real estate.

For example, Texans spend an average of six years in their home. Since 2004, the median price has risen 23 percent in Austin.

* Few investments deliver that kind of return.

Home affordability is at an all-time high and buyer incentives are still available.

The combination of stable home prices and historically low mortgage rates has made housing exceptionally affordable relative to household

income. In addition, the Federal Housing Administration (FHA) and many local programs offer loans that can result in lower down payments, more

competitive interest rates or flexible credit qualifications. Texas has a strong and diverse economy.

Central Texas’ economy is strong and diverse, and the population is expected to continue to grow steadily. These factors all point to continued health in the housing market.

Owning builds long-term wealth and can cost less than renting.

Homeowners see substantial 

savings through federal income tax deductions on property tax and mortgage interest. These

tax savings partially reduce, or offset, the actual cost of owning your home. According to the National Association of REALTORS®, a typical

homeowner’s net worth is 49 times greater than that of a renter’s.

Renter’s Net Worth vs Homewoner’s Net Worth

Interest rates are near record lows.

Even small reductions in the interest rate can significantly boost your purchasing power. For example, a decrease from 6 to 5 percent on a 30-year home loan for $200,000 can change the monthly principal and interest payments by $125, a decrease of 11.6 percent.

PSG know the local real estate market and can help you find a home that fits your needs and your budget. PSG experts can also connect you to affordable housing and negotiate on your behalf to maximize the value of your investment. When buying or selling property, be sure to consult your REALTOR®.


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Chip Franks

The Supreme Commander of The Real Estate MarketPlace and A Good Guy, In General! Ron "Chip" Franks was born in 1972 in the thriving metropolis of Killeen, Texas and makes his profession there as on....

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