Well...well..well, we finally received the details of Obama's "Stimulus Package". I must admit that I really didn't think it would make much of a difference in the real estate market, but I was wrong. If this week's listing activity is any indication of what's to come, then this package should be named the "Stimulating Stimulus Package". Below are a few reasons why the Austin real estate market and probably the national market has begun to shift:
- It's a buyer's market in most real estate markets around the country, including Austin, Tx.
- Interest rates are at an all time low, still well below 6%.
- The Presidential election is over and we finally know who all the players are.
- Builders are offering incredible incentives upwards of 10% discounts.
- And finally buyers will receive up to $8000 in tax credits by purchasing homes by 12/31/2009.
The above items when considered alone are okay, but when all of these conditions exist at the same time, it becomes the "perfect buying season". Now is an incredible time to buy homes in Austin, TX. Whether you're buying a home as your primary residence or purchasing an investment property, I'd advise everyone to take advantage of this "perfect buying season"!
Always remember, real estate is local and time is of the essence! We have NO IDEA how long this market will remain so favorable. Happy house hunting!!!
Socar Chatmon-Thomas (512) 784-7150
