AUSTIN, Texas - s4story -- First-time home buyer programs in Texas deserve a fresh look this week, says Sarah Maddali, REALTOR® and team leader of Serendipity Realty Group at Compass. First-time buyers made up 31% of existing-home sales in September, up from 30% in August, the National Association of REALTORS® reported Oct. 13.

Austin buyers have room to negotiate. Unlock MLS's September report showed metro sales down 14.8% from a year earlier, a $421,000 median price, 5.4 months of inventory and homes closing at 92.7% of list price on average. Freddie Mac's Oct. 22 survey put the 30-year fixed average at 7.32%, and the Federal Reserve announces its next rate decision Wednesday, Oct. 28.

Among first-time home buyer programs in Texas, the Texas Department of Housing and Community Affairs (TDHCA) offers My First Texas Home, which pairs down payment assistance with a 30-year mortgage, and the Texas Mortgage Credit Certificate, a federal tax credit for eligible buyers. TDHCA requires an approved homebuyer education course for its assistance.

"Nobody should pick a house based on what the Fed does Wednesday," said Maddali. "What I'd actually do this week is call a lender who works with the TDHCA programs, find out if you qualify, and knock out the homebuyer class now. Or there are local lenders that have their own in-house first-time homebuyer programs that can potentially help even more. Then when the right house shows up, you're ready, and with 5.4 months of inventory you've got room to negotiate."

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What Austin first-time buyers can do this month:

• Ask a lender if you qualify for My First Texas Home or a Mortgage Credit Certificate.
• Take the homebuyer education course early.
• Ask for seller-paid closing costs or repairs on homes that have sat.

Free first-time buyer guides: sarahmaddali.com/links/

About Serendipity Realty Group
Serendipity Realty Group is an Austin, Texas real estate team led by Sarah Maddali, REALTOR® and Military Relocation Professional (MRP). Before real estate, Sarah worked in physical therapy, and she moved into real estate after her own first home purchase left her feeling like nobody was in her corner. Since 2016, Sarah and her team have closed 220+ transactions and helped flip 22+ homes around Austin, and she has been recognized by Austin Real Producers. The team helps first-time home buyers, relocating families and sellers across Austin, South Austin and the surrounding Hill Country. Serendipity Realty Group is a real estate team affiliated with Compass. Equal Housing Opportunity.

Media contact: Sarah Maddali, Serendipity Realty Group at Compass, 563.650.0452, sarah.maddali@compass.com, sarahmaddali.com