Current Market Rating: 3 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

There are more foreclosures on the way. With the current economy, many home owners just can't seem to keep up with their payments. The result is short sales and foreclosures.

Recently, President Obama implemented a new loan program designed to slow down the foreclosure process and even stop many foreclosures.

The Loan Modification Program is a program where the homeowner's current lender reviews the borrower's current financial situation and determines if the loan can still be paid off in the future.

They review current income and expenses along payment history then offer a loan modification solution. I have heard of some loans being redone at interest rates starting as low as 0%.

So whether or not the Government continues a stimulus package of some kind, I believe we will continue to see home sales as usual though home prices will move slightly upward and downward depending on supply and demand especially in certain areas throughout our greater Austin and metropolitan real estate market.

Lastly, it's still the best time to buy and move up because if you wait you will pay more and interest rates will be higher. Just think about it, if the real estate market goes up 10% and you own a house, you may get 10% more for your home but you will definitely pay 10%+ for the more expensive home and interest rates may hurt your ability to qualify for house you've always wanted in the future.

For those of you who can't qualify or who may want to invest in real estate, there is another way to buy a home. Non-qualifying Owner financing - No Bank Required.

If you would like to learn more about buying a home this way or for a list of homes offering this type of financing, call us today at 512-794-9914. We can even get you into a home in as little as 5 days!

For more information about the Austin real estate market or for a list of available properties, please call 512-345-1919 or visit our website at www.premiereteam.com.


ZIP Codes: 78727, 78728, 78729, 78731, 78757, 78758, 78750, 78759

Approximate Location Boundaries: Travis & Williamson Counties

Location Characteristics: More and more planned condominiums, some with store fronts, are now being developed mainly in central Austin as the demand increases for downtown living. New home builders (now building green), on the other hand, are focusing on the outlining areas where growth continues, especially around the new expressways and toll roads. Travel time has been cut by almost half, with these new additions. This should allow for continued growth in residential areas, but most especially commerical real estate areas for years to come.

Austin has several large shopping mall complexes and a new outlet mall; plus, name brand high end stores are coming into town. At this time, there's no indication of growth slowing down in the near future. In fact, in the central Austin area, older homes are being torn down and new custom homes and high rises are being built in their places.

For more information about the Austin real estate market or for a list of available properties, please call 512-794-9914 or 512-345-1919 or visit our website at www.premiereteam.com.

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