Not as bad as you think, say the people at First Texas Homes. Although the headlines say otherwise, there’s actually some surprisingly good news to come out recently about the state of the housing market.



For starters, it looks as if the record foreclosures we’ve all read about in the papers is a bit overstated - or at least misrepresented.





According to a new study conducted by the research firm Realty Trac, and USA Today, the high number of foreclosures are in highly concentrated in a small number of counties. Not surprisingly, these counties are located in California, Las Vegas, Phoenix and Florida. The data also shows that in more than 650 other counties representing one fifth of all US markets, the number of foreclosures is actually down since 2006.



Other news that shows that the real estate market is rebounding says that applications for FHA loans to purchase housing is up by 10.4 percent, and the overall applications for home purchases are up by 7.1 percent.



In addition, mortgage interest rates recently dropped to levels not seen in the last two decades according to the Mortgage Bankers Association. Fixed rate mortgages for thirty-year terms averaged 4.69 percent, while fifteen-year rates dropped to a mere 4.5 percent.



All of this shows signs that the real estate market has a pulse again, although it’s still a buyer’s market, notes realtors like the folks at First Texas Homes.



If your credit is solid, and you have a good income, now is a good time to get into that dream home you’ve been wanting.



The people at First Texas Homes have been selling and building homes in the Dallas/Ft. Worth, Houston, Texas areas for over 23 years, and they’ve earned a reputation for being one of the easiest realtors to do business with.