Now Is The Time to Buy In North Austin
For those that have been putting the idea of buying a new home off, you may want to rethink your strategy. All the current date suggests that the second half of 2010 may represent the best buying opportunity in years. While historicaly low interest rates in the 4.6 % range on a 30 year note for buyer with the best credit scores have motivated some buyers it has not heated the market like some expected. With area foreclosures running 42% above what they were for the first half of 2009, high inventory of resale homes, reduced demand due to fewer buyers in the market prices are on the decline and deals are plentiful.
Another key indicator of the market is that the rental market for apartments is the strongest it has been in years. This is important to note because typically when the housing market begins to recover it starts first with a strong rental market, then starter homes and so on up the food chain.
In closing I feel due to the shortage of buyer in the current market place, high inventory of resale homes as well as the high foreclosure rate the second half of 2010 will be one of the best buying opportunities in Austin in recent memory. If you are thinking of buying now is the time before prices begin to rise in 2011.
Call or email Michaela today at 512.744.4155 or Michaela@LivingNorthAustin.com today to start your Austin Home Search
Written by Jim MorelliREMAX Capital City | 13018 Research Blvd. | Austin TX 78750
Direct 512.918.1562 | Fax 512.331.7480
http://www.LivingNorthAustin.com
jim@livingnorthaustin.com
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