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Texas Real Estate Powers the Economy
Texas property prices have stayed relatively healthy compared to the rest of the country. But this big state remains one of the most affordable. According to Texas Real Estate Magazine, Texas homes are more reasonable than those in the United States as a whole. A sizable percentage of Texas houses are owned by those with an annual income of less than $25,000, although the over-the-top luxury lodgings popularized in television still abound in the larger cities. Today's lower mortgage rates could help even more Texas residents become homeowners in the near future. Add the first-time buyers' federal $7,500 tax credit, increased access to FHA mortgages, motivated sellers, and bank-approved short sales, and you have the potential for rapid real estate recovery.

Refinancing in Texas Is Doable
Almost 7.5 percent of all residential units in the country are in Texas--real estate is a huge industry there and is still strong. While the country as a whole has experienced a major slowdown in property sales, Texas real estate agents brush off their state's price bobbles as a mere "hiccup." Those in the most affordable areas will find plenty of Texas mortgage companies offering FHA and community home buyer programs to eligible borrowers. These programs also facilitate refinancing from adjustable to fixed rate mortgages for those who qualify.

Texas: Stable and Sane
According to Forbes.com's analysis entitled America's Most Stable Housing Markets, two Texas metropolitan areas stand out for their affordability and high job growth. Dallas and San Antonio made the list because, while they didn't experience the breath-taking real estate appreciation of a couple of years ago, they avoided the subsequent free-fall in prices as well. So those who bought in these cities are most likely right-side-up in their homes with equity intact and a market unencumbered by the foreclosure epidemic. Sometimes boring can be beautiful when buying a home.