Everywhere you turn there is someone talking about the foreclosure situation that is taking over our nation! Good Morning America is on site at a home being taken over in Dallas and the local news is constantly covering stories about people losing their homes to foreclosure.
The reality, however, is that foreclosures are not taking over all of the real estate markets. The number of foreclosures is relative to the number of people in the area. Houston is the fourth largest city in the nation and, in addition, Houston was the 4th fastest growing city in that nation from 2006 – 2007 with a population increase of 120,544 people according the US Census Bureau.
If you look at the number of foreclosures today, based on what they have been in the past, taking into consideration the population increases, our real estate market is still strong and despite the bad press in the mortgage industry, there are great loans available, making this a great time to buy and/or sell a house!
The difference is the buyer has to be more qualified in today’s real estate market than they have been, but that is a good thing! Buyer’s need to be sufficiently qualified to buy a home! If you are interested in buying or selling a home, contact The Chappell Team today for a free market analysis!
The Woodlands Real Estate 