Texas has shown itself to be somewhat immune from the real estate plummet that has hit most of the rest of the nation, but a little dip in Dallas home prices at the end of 2011 is an indication that things may be weakening.
Analysts expect prices to continue to edge incrementally downward through the end of the calendar year, but how do you know if this is a good time for you to buy?
Consider these factors:
1. Your budget: How much can you buy for what you’re paying now? You’ll want to factor in a down payment plus principal, interest, taxes, and insurance.
2. Your local market: Are prices rising or falling? There’s no reason to buy in a market that’s still on the ropes, and if things are expected to drop further, you may want to hold off buying.
3. Time frames: If you may move soon, don’t buy a house, it can be hard to sell in a hurry. Consider your job stability and prospects before a purchase.
4. Investment factors: Interest rates are the lowest in decades. Home payments can be a tax write-off. When prices rise, you may reap equity rewards with no effort.
Itching to move to somewhere new? There are lots of great apartment rentals available in in the Dallas area. Check out Dallas apartments to find great new digs without making any scary major decisions.