connie vallone

Now is Still a Great Time to Buy

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, new homes houston energy corridor on September 3, 2015 at 5:31 pm

Recently, the media has painted a one-sided portrait of the housing market and real estate industry as a whole. Although we surely have seen better days, now is still a great time to take advantage of low prices and rates, writes Brett Arends on wsj.com. Enough with the negatives-here are 10 reasons from The Wall Street Journal why it’s still a great time for you to buy a new home.

Amazing Deals

Buyers who act fast can still get an amazing deal on a new home purchase. Home prices are down about 30% from their peak, according to Standard & Poor’s Case-Shiller Index. We’re still experiencing a buyer’s market, and if you like to take on a negotiator role you can get a great buy at a fantastic price. Don’t wait to catch the bottom-chances are prices will go up before you pull the trigger. Prices are down, and now is the time to capitalize.

Low Mortgage Rates

Mortgage rates have recently been the lowest they have been in decades. You can get a 30-year fixed-rate loan in the 4% range. Two years ago, rates were about 6.3%. As prices and values go up, so will these rates. Buyers who act now get to take advantage of great pricing and great rates. Why wouldn’t you buy under these ideal conditions?

Tax Savings

Mortgage interest is tax deductible. You can also get a tax break on capital gains when you sell if you itemize your deductions. Any real estate tax is deductible, and come income tax time, this is money you’ll save just by being a homeowner. The more you earn and the bigger your mortgage, the more valuable your tax breaks will be.

You’ll Own It

A simple reason to buy, but you can do anything you’d like to with your own home. Extend walls, repaint or redesign, anything you want to do can be done. Renters can’t say the same thing. Occasionally a landlord may make an allowance, but as a homeowner you never have to worry about going against a clause in a lease. You own it, and you control everything.

Better Homes

When you decide to buy, you are able to narrow down exactly what you want. By putting down more money, you’re also paying for more space and nicer quality living conditions. Money talks in real estate. By making the commitment to buying your own home, you are more likely to get exactly the type of home you are looking for, and that in itself is a luxury.

Risk Capital

Although you shouldn’t view your home as a way to get rich, your home can grow in value as the market rebounds. Once the economy is stronger, real estate prices and values will strengthen with it. After all, “Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy,” reports wsj.com.

Forced Savings

Buying a home is sort of like a forced savings. Instead of squandering money on rent, you are putting money towards something that you will own. You’re paying yourself by building equity for later down the road.

Plenty of Options

According to NAR, the current inventory in the U.S. is around four million homes. This number is below last year’s peak, but well over normal levels. With this many homes on the market, you have quite a few options to choose from. There is definitely more of a chance that you’ll find exactly what you want if you look for a home in a market like this-great prices, great rates and great choices.

This Market Won’t Last Forever

Sooner or later, demand will meet the supply. With the population only expanding, more and more people will start making the transition over to homeowner and the supply of available homes on the market will shrink. Buying a house now is a great step and plan for the future.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

If you or someone you know wants to buy a home, please call Connie Vallone at

(713) 249-4177 or email connie@knowsrealestate.com .

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