Compelling Reasons to Buy a Home in Stephenville

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It’s all over the media – home ownership is currently very affordable with interest rates below 4%! So what does this actually mean for you? How do they know what’s affordable and what’s not? “Affordability” is actually a ratio of median household income to median home prices for a given area. Currently the Housing Opportunity Index (HOI) is at a record 73%, as compared to 60% is has been at in recent years.

Of course every area is different so consulting with a local real estate expert (we just happen to know some great ones) is key. They can tell you what home prices are like in your area and compare those to your family’s income. Luckily you will probably get good news. With the rates as low as they are, buyers who have good credit (credit score at least 720) will get in on a rate under 4%. Another benefit of the market is there are less buyers so your selection will be much better, and you will have more leverage during negotiations. Sellers have probably been trying to sell their property for a while so they are more willing to make concessions to close a sale.

Don’t pass up foreclosed and short sale homes as well. This trend will be sticking around for a while because of delays from the banks. Homes that have defaulted for years are just how hitting the market. Overall if you can buy a home now, you will find better deals, lower prices, and amazing rates.

We are local real estate experts in Stephenville. If you are interested in buying or selling a home in the area we would love to be of assistance. Please contact us.


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“Desiree Bridges went above and beyond to help us first time home buyers go through the, at times stressful, process. She constantly followed up on items and helped us stay on track, along with the bank and seller. Throughout the entire process she was professional, knowledgeable, and trustworthy. She took our complete lack of real estate knowledge in stride and answered every question. We never had to worry that something was slipping through the cracks on her end. And now we are satisfied home owners. Highly recommend and if I were gonna to buy another one I’d go with Miss Desiree again at Hayden Real Estate!!”