| Timing the real estate market is like timing the stock | | | | payment would be $963. |
| market. In most cases, it can't be done. Nationally, | | | | Looking at this another way, a buyer getting an |
| home prices have dropped significantly, but in Austin | | | | interest rate of 4.5% today could buy a $250,000 |
| they are actually up slightly. | | | | house for the same monthly payment as back in |
| After looking at Austin real estate market statistics in | | | | 2007. So an Austin home buyer today can get a lot |
| the local MLS, what I see is that Austin home prices | | | | more house for the same monthly payment as he |
| are up almost 1% from January, 2010 through the | | | | could have several years ago. Combine that with |
| end of June, 2010 compared to the same time period | | | | the fact that Austin home prices are generally not |
| a year earlier. This is not true at the highest price | | | | falling and I am seeing a great opportunity. |
| level, but is generally true at the low and middle | | | | Anyone on the fence about buying an Austin home in |
| ranges. | | | | this market with such low rates should do some |
| Take a look at mortgage interest rates. Just a few | | | | serious thinking. Home prices are likely to remain flat |
| short years ago in 2006 and 2007, rates were in the | | | | or they will rise slightly in the future. With fall |
| mid 6% range. Rates today can be as low as | | | | approaching and the seasonal slowdown in home |
| 4.5%. A buyer looking at a home in 2007 would be | | | | sales almost upon us, this is the right time to buy. |
| looking at a monthly principle and interest payment of | | | | Serious sellers are motivated and will look at all |
| $1201 if he bought a $200,000 home with 5% | | | | offers. |
| down. At a rate today as low as 4.5% that P&I | | | | |