If you blink you’ll almost miss it….a slight cooling in the air, even an amazing thunder storm that had the Sherrill household opening the door and standing outside (under an overhang) to enjoy the spectacle of rain!  Yes, fall has arrived.  The temperature isn’t the only thing falling – interest rates continue to drop as evidenced by this article http://www.msnbc.msn.com/id/38770102/ns/business-real_estate/

“The average on a 30-year fixed mortgage fell to 4.01 percent this week, Freddie Mac said Thursday. That's the lowest rate since the mortgage buyer began keeping records in 1971. The last time long-term rates were lower was in 1951, when most long-term home loans lasted just 20 or 25 years.

The average on a 15-year fixed mortgage, a popular refinancing option, ticked down to 3.28 percent. Economists say that's the lowest rate ever for the loan. “

What does this mean to you. Well if you are currently own a home, now might be a great time to refinance maybe to a 15 year loan.  If you are looking for a home – why wait?  With rates this low, you can afford  more home for less.  Homes are beginning to sell, but there is a lot of inventory and many homes to choose from….once again a great time to buy.

Of course if you are trying to sell your home, you may  be asking “where are the buyers?”.  Good question. They are taking their time, looking for a “deal” that requires little to no work AND they are shopping neighborhood to neighborhood.  There is still a bit of a gloomy mood in Clear Lake homebuyers.  Today was the last day of work for many NASA contractors, which of course are many of our friends and family which adds to the sense of discouragement.  Then all you have to do is turn on the TV and you will be blasted with how bad the Real Estate market is from “experts”.  But as I was driving around today I was reminded of a few things – just a stone’s throw down the road are growing industries that are bringing in jobs.  Houston is not Detroit, we are not a one industry town.  Also, remember when the “experts” predicted gas prices to hit $5 or more?  Funny, I just filled my tank and it was $3.13 (less with my Kroger points).  I guess maybe sometimes “experts” can be wrong.  Maybe things aren’t as bad as we are told.

So with that – enjoy the cooling weather. Go outside and enjoy it.  If you or someone you know wants to buy a home, give me a call I’d love to show you around!