Monday, June 22, 2009
Lowest Priced Homes Going Fast
First time home buyers Ben and Brandi Kutsch are still unpacking boxes at their new Katy home.
Brandi just finished graduate school in Nebraska, and landed an oil industry job in Houston.
Brandi is stunned by how much home she and Ben were able to buy for their money.
"Getting such a big house is really scary in a way because I feel maybe I don't deserve it quite yet. It's the size my parents have," said Brandi, 31.
Interest rates are historically low, and the economy has driven down real estate prices. Now the market is heating back up for homes that are priced below $200,000.
"In the last couple of months a lot of the houses we wanted to take a look at were gone in a couple of days. We couldn't get to them," said Ben, 30.
Their Katy based realtor Christi Borden who says first time home buyers are driving the real estate market nationally, and here in Houston.
"First time home buyers are the ones who didn't get in trouble with the loans. They have not been in foreclosure because they are first time home buyers. So they are the people who can get the credit now," said Borden.
There is another reason first time home buyers are snapping up homes. They are getting a government tax credit of up to $8,000.
"They can actually apply it to their down payment instead of waiting to get it back as a tax credit. It is just moving this market," Borden said.
"We had to take advantage of it. We thought about renting, but we realized this was the moment," said Brandi.
First time home buyers Ben and Brandi Kutsch are still unpacking boxes at their new Katy home.
Brandi just finished graduate school in Nebraska, and landed an oil industry job in Houston.
Brandi is stunned by how much home she and Ben were able to buy for their money.
"Getting such a big house is really scary in a way because I feel maybe I don't deserve it quite yet. It's the size my parents have," said Brandi, 31.
Interest rates are historically low, and the economy has driven down real estate prices. Now the market is heating back up for homes that are priced below $200,000.
"In the last couple of months a lot of the houses we wanted to take a look at were gone in a couple of days. We couldn't get to them," said Ben, 30.
Their Katy based realtor Christi Borden who says first time home buyers are driving the real estate market nationally, and here in Houston.
"First time home buyers are the ones who didn't get in trouble with the loans. They have not been in foreclosure because they are first time home buyers. So they are the people who can get the credit now," said Borden.
There is another reason first time home buyers are snapping up homes. They are getting a government tax credit of up to $8,000.
"They can actually apply it to their down payment instead of waiting to get it back as a tax credit. It is just moving this market," Borden said.
"We had to take advantage of it. We thought about renting, but we realized this was the moment," said Brandi.
posted by Avoid foreclosure, We buy houses, Stop foreclosure
@ 9:01 PM
permanent link | Post a Comment
|
0 Comments:
Post a Comment
<< Home