If you watch only national news of financial turmoil and declining housing prices you may fear that this is not the time to buy a home. While that may be the case in other states, it’s not an accurate picture of the market in the Tri-Cities area. We have a unique set of positive economic variables that sets us apart from other parts of the country, and even other parts of the state.
Long-term mortgage rates are in historically low ranges and, contrary to what you may think, our banks, credit unions, consumer loan companies and mortgage brokers have money available for buyers with reasonably good credit. Also, Congress acted to expand a number of home loan programs. Our financial institutions have a strong presence in the community and have excellent financing options for buyers, including great programs for first-time homebuyers.
Additionally, there is a good selection of new and existing homes in the Tri-Cities right now. The reports heard in the media about plummeting home prices are in areas far from our Tri-City area. Home values here are strong. Perhaps another important factor to consider is the reality that the State’s and Tri-Cities area economy continues to outperform the national economy.
For many buyers looking for that perfect home in the Tri-Cities area, NOW may be the time to buy and get comfortably situated in your new home as Fall approaches. Kennewick, Pasco, Richland and the surrounding areas have many beautiful homes throughout and one of these could be yours!