They are not, it's all really relative to your market.
That's the problem with a lot of the national news coverage you hear, they report Real Estate/home value news, that's based on a broad view, and tend to generally paint every area with the same paintbrush.
record lows in home pricesThis is absolutely not true, and any Realtor, who knows their stuff will tell you Property value is based on the individual market.
lol..now, that I'm off my Soapbox :P I'll get to the good stuff. :)
The Austin-Area market is doing Great!!, and we're currently celebrating our 2nd highest year in Austin Real Estate History, which means that homes sales, and our average median home price is up!
- Austin Homes sales are up 4%
- Median sales Price is up 7%
- Austin-area homes are staying on the market for about 4 months
this is compared to a national view that home sales are down about 13%, with median home prices down 6%.
So if you're in ATX (Austin) Now is a great time to buy, the interest rates went way down last month, I'm talking in the 5.something% range , and are kinda beginning to stabilize now, but, I expect that they'll still be decent for a while. I got a quote last week for 6.25 on conventional, and 6.125 on FHA, which is still pretty darn good, i think.
So if you want to search for homes in the Greater-Austin area, e.g, Austin, Pflugerville, Round rock, Leander, Cedar Park, Hutto, Elgin etc areas click here and begin your search I'll bet that you can find something in your price range, that you like.
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