Q: I’m thinking about buying a home in the Dallas area, possibly Plano, Texas, but I’m not sure how the housing market is doing in those areas.
With the interest rates going up I’m not sure whether home prices will be coming down or not. Do you think I should buy now or wait and see if the prices go down?
A: It’s always a good day to buy if you find the right house, in the right neighborhood, and at the right price.
I would take a look around to see what’s going on in those neighborhoods. Also, think about how long you plan to stay there.
Plano and parts of Dallas are hot, but other parts have cooled significantly. You may find a really good deal by buying from someone who has to get out.
Find a great agent to work with and then start pounding the pavement. Finding the right deal will take work.
Please check out my book, 100 Questions Every First-Time Home Buyer Should Ask (Third Edition) for some useful information about home buying.