The time to buy a home in Austin Texas is now! Home prices in Austin Texas have remained relatively steady compared to the rest of the US. Local buyers seem to be waiting for Austin to experience a "crash" in home prices or a flood of foreclosed properties. I don't see that happening. Austin remains in the top ten desired places to live, and the population continues to increase. Even 100 degree summer heat didn't keep buyers away this summer!
Some savvy home buyers in Austin have already taken advantage of the $8000 tax credit by purchasing their bargain homes this summer. What are you waiting for? This may be your last chance to buy at low prices and ridiculously low interest rates. What if you bought a home now and the prices went down in the coming months? If interest rates rise, you could still be way ahead in your quest for a bargain. Did you know that a 2% rise in interest rates is equivalent to a 20% increase in purchase price if you are buying an average priced home in Austin? I'm not a mathematician, but just the few numbers I've given you in this paragraph should be enough to convince you that a real estate purchase is probably a really good bet right now!
I love shopping for homes in the fall and winter in Austin Texas because most home buyers and investors are busy with kids at school, football games and holidays. You'll have less competition when you find that perfect bargain. Still, you need to be prepared to move quickly when a good deal comes on the market. Be ready by getting your mortgage pre-approval letter in hand. Just like fishing, when the big one hits your lure, you can't be slow to reel it in, and you must have your net handy. In any real estate market, a well-priced, high value home is going to sell quickly to the most prepared and willing buyer.
Here's ONE example of a bargain deal in Austin Texas right now. This solidly built home is dated on the inside but priced appropriately. It's located less than one block from Lake Travis, with lake access and boat ramp is available. Less than 20 miles from Downtown Austin! And the price? Just $150,000 for over 1500 square feet of living space. Click here for more details.
