Mexican nationals help Valley housing market rebound
Mon, 23 Jan 2012 19:37:57 GMT —
The housing market in Hidalgo County is slowly making a comeback.
After a brief slump, things are looking up for real estate agent Fabiana Walker.
One of her clients, Mikal Powers, just moved to the Rio Grande Valley three months ago, and he just closed on a home.
He told Action 4 the decision was easy.
I looked at 15-20 homes said Powers. I fell in love with this one, and within 60 days of being in the valley I was able to close on a home."
Powers is one of thousands moving into this area.
Mexican Nationals have started to move away from their country, and have started purchasing homes right here in the Valley.
We are blessed with foreign nationals in here in this market, said realtor Fabiana Walker.
Companies also have been transferring employees here from other cities," she added.
Walker stresses that Mexican Nationals and the business industry are responsible for the increase in home sales over the past few months.
"Foreign Mexican Nationals are our biggest customers at this time," said Walker.
She adds they are investing lots of money in areas like the Sharyland Plantation in Mission seeking the safety of the valley, but the closeness to Mexico.
But, regardless of where buyers come from, Walker told Action 4 there TMs one thing convincing them to buy a home here.
"We don't see interest rates getting as good as it has been, take advantage of this time and move forward," she said.
In today TMs market, interest rates may be lower than 4 percent, but it depends on the market.
Powers told Action 4 News the great interests were definitely the motivating factor for him.
He locked in percent.
The best advice from realtors is to contact a professional to get started in the process.
RE/MAX Elite Real estate agent Fabiana Walker can be reached at 956-566-5971.