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If you think NOW is a GREAT Time to Buy Real Estate, you are right! If you think NOW is a HORRIBLE Time to Buy Real Estate, you are RIGHT too!
I cannot convince you one way or the other. You just have to make the best decision for yourself.

Here are ALL the RIGHT Conditions:

Interest rates have been at an all time low.
I've seen interest rates as attractive as 4.75% for a 30-year note and 4.25% for a 15-year note on an A paper loan. Off and on, interest rates fluctuate up and down, but overall, we have known to see some of the historical lows. Back in 2004 when I thought 5.25% for my 30-year mortgage refinance from its original 8% in the year 2000, I'd never see rates lower than that. I guess I'd never say Never again.
Real estate prices have been shockingly low.
It seems that It seems that real estate prices have been driven by business decisions of banks and foreclosures. Some properties that were purchased for $400,000 back in 2006 in McKinney Texas - a neighboring city east of Frisco Texas recently sold for $315,000 in September 2008. Relocation companies who handle employee transfers end up holding real estate that accept the first offer that comes along the way. Regular sellers are left with following the crowd or end up not selling. Either circumstances, buyers benefit.
Uncle Sam congratulates your buy with $8,000 tax credit for first time home buyers.
In case you didn't know, you can now file for your $8,000 first time home buyer tax credit for your home purchase from January 1 through November 30 2009. Read more about the $8,000 First time home buyer tax credit.
Tax benefits of homeownership.
Even if you don't qualify for the $8,000 first time home buyer tax credit, there are still tax benefits for the rest of us. Property taxes and mortgage interests on your personal residence are used to offset your income. During the year of purchase, some of your closing costs are tax-deductible items also.
Emotional pride of homeownership.
I remembered the first thing I did when I bought my first home was to paint the walls - just because I can! I didn't have to ask the property manager if it was okay. I planted a rose here and I dug a pond there. There's nothing like a place call Home!

Here are ALL the WRONG Conditions:

The job market is uncertain.
Not sure when it's your turn. In the mean time, you are preparing for the storm.
Real estate prices could drop even more.
There is no guarantee that your Frisco TX home that you would purchase today for $200,000 could be worth $190,000 in the next year or so. There had been evidence that homes purchased in 2004 for $245,000 are worth about $225,000 now. History may repeat itself.
Bought the "wrong" house facing the "wrong" direction in the "wrong" neighborhood.
What if you did just that since bad things almost always happen to you anyways?

It depends on how you want to look at the current situation. Half empty or Half full? It's entirely up to you. How ever you look at it, you are absolutely RIGHT!

Here are ALL the RIGHT reasons:

Homeownership is right when you are financially ready for it.
Homeownership is right when you are emotionally ready for it.
Home is a blessing. It shouldn't be your curse.

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About Loreena & 3:16 team REALTY

Loreena Yeo - Realtor(R) in Frisco TX | Broker
M.Sc, B.Sc
Direct (214) 783-2210
Fax (214) 231-9018
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3:16 team REALTY to practice real estate in Frisco & surrounding cities (State of Texas). Texas Real Estate Broker License Number #0507884.

CLIENT TESTIMONIALS

Read about what our satisfied clients have to say:

When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

Eric & Tomoko Quere, Plano TX

Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

Jenn & Glen Miller, Denton TX

We were completely impressed with Loreena. She helped us find and buy a home in Frisco. We have very high expectations from a realtor and she surpassed them. Knows her market extremely well, not just the technical market pricing data, but the nuances of all the neighborhoods as well. One of the most responsive and professional persons I've met in my entire business career.

Ruth & Jerry Meek, Frisco TX

I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

Sally & Phillip Barnard, Frisco TX


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