Wow, this article says it all & Austin is THE place to buy a home.

Five Smart Reasons to Buy a Home Now
RISMEDIA, July 30, 2010--The economy is stabilizing. Home prices are holding. It's not just as good a time as ever to buy a house. It's one of the best times ever.

ForSaleByOwner.com presents five overlooked reasons why now is a great time to buy a house.

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system – and this is just the opportunity that owners of many desirable properties have been waiting for.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines...again. Now that appraisers have more flexibility to set values that reflect the current market, today's deals will make it over the finish line.

5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by "workforce housing" programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.

BOLD Revolution, First Step to BOLD

4.375% Interest Rates... Are We Dreaming?!

Interest rates this low sounds like the stuff homebuyers' dreams are made of; but this is reality! It is such an opportune time to be on the market for a great home and Austin, Cedar Park and Round Rock are no exception.

Don't let the fact that the first time homebuyers' credit has expired hinder you from exploring the fantastic listings that are available. In the long run, having low interest rates on your mortgage puts you at an even greater advantage than the federal tax credit.

According to the Wall Street Journal, "The 30-year fixed-rate mortgage averaged 4.57% for the week ended Thursday, down slightly from the prior week's 4.58% average and 5.2% a year ago. It is at the lowest point in (Freddie Mac's weekley) 39-year survey."

These record low mortgage rates should be inspiring you if you're in the position to buy a home.