Austin Real Estate: Slump or Surge?

It’s sweeps time again, and if you pay attention to national and local network news lately, you have surely been inundated with shocking lead stories about the current “real estate crisis”.

The “crisis” began as an issue with defaults on sub-prime mortgage which accounted for a very small percentage of overall mortgages. The issue has now impacting mainstream mortgage brokers and home builders. Stock prices are falling and corporate executive are knee-jerk cost cutting to improve earnings ratios. This has slowed new home construction and tightened mortgage requirements.

Don’t Let the Austin Real Estate Slump Talk Dissuade You

In reality, interest rates are still very attractive and the Austin real estate inventory is high. Prices are falling as sellers are becoming anxious with all the negative press, even though most sellers are still making considerable profit. These market conditions make Austin a buyer’s market – ideal conditions for aspiring home buyers to find an Austin home.

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This entry was posted on Tuesday, November 13th, 2007 at 1:32 pm and is filed under Austin Texas Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.