THE MORTGAGE MAN PRESENTED BY ENVOY MORTGAGE, LTD AND CASEY MONTGOMERY
T
he real estate active season is approaching. Although there have been many changes in the market, our local market is in a good place, and that, combined with low interest rates make now a good time to buy a home. Thanks for the calls and emails I received from readers after my first article. I have posted a couple of questions from Bay Area Houston readers below. Q: Casey, my son recently got married, and he and my daughter-in-law are looking to buy their first home. Is real estate still the “safe” investment it used to be? Do you see more home value depreciation in the future, or is now a good time to buy? -Richard in Clear Lake A: Since you did not say, I will assume they are looking in the 80-250k value price range; this is comfortable for most first-time home buyers. Fortunately, Houston enjoys a relatively strong labor market which helps keep our economy chugging along during these tough economic times. We are seeing promising trends for Bay Area job markets and have seen exciting projections from the Port of Houston, Ellington Field and the oil and gas industries. Because of our
relatively strong economy, middle class housing has seen little depreciation, and has not been subjected to the extreme ups and downs that have been reported nationally. I would also suggest seriously considering a 15 year note with their first mortgage and keeping overall debtto-income ratios below 33%. This is a very effective way to use your mortgage as a shrewd financial tool that quickly builds wealth and ensures they will enjoy their home without unnecessary stress. If they find the right property and make the right mortgage decision their first purchase will not only be a “safe” investment but it could be a move that pays dividends for the rest of their lives. Q: Casey, I am beginning the home buying process and would like to choose you and Envoy as my lender, what is my next step? A: You can apply online at www. envoymortgageapp.com, or call my office, 281-245-3347 and set up an appointment to meet with me. I like to sit down with all new clients and discuss the process, as well as answer any questions. If you are just beginning, I can also refer you to an excellent real estate agent to help you along the way.
APRIL 2012 | Bay Area Houston Magazine
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