Austin Video Blog Update 12-17 - Mortgage ALERT!

Kenn Renner, realtor and public speaker, discusses the current real estate and mortgage crisis in this blog update. If you're looking to buy or sell a home in Austin, TX, call Kenn at 512-423-5626, or visit his website at http://www.buyaustin.com

Transcription:
The past few months have been historic to say the least and every day brings new surprises. On Tuesday the feds lowered the discount rates to all time lows prompting the interest rates on home mortgages to drop also to historic lows. As of today the rates on 30 year fixed rate are in the 4.5% range. This rate is 2 full percentage points lower than just 2 months ago. These historic low rates can save the average home buyer thousands of dollars per year in home payments. This rate drop along with the lowered Texas property tax rates combined with a buyers market make it the absolute best time in recent history to buy a home. The problem is that the news media has crushed the great American dream of home ownership right when we need encouragement the most. Buyers are staying on the sidelines while they watch history being made. The lowest cost of money in 2 generations and the best values in real estate in 2 generations. If you study history you will find that these windows of opportunity rarely last long and that the few individuals who are bold enough to capitalize on the opportunity are the ones who end up in a win-win scenario. Are you going to be one of the few and the bold that will win in a buyers market?

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Education

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