Buying a home in foreclosure sounds like a great idea. Who wouldn’t want to purchase a house for 50, 60, or 70 cents on the dollar, as the late night infomercials claim? While there are great deals to be had, experts indicate that most foreclosures actually sell for 5% off market price. Still, that can turn out to be a significant savings.

Single-family home sales in the Austin, Texas, area continued their double-digit annual growth in March and set a record for the month, according to the latest Multiple Listing Service report from the Austin Board of Realtors.

RISMEDIA, April 12, 2006—Home sales should generally level-out and remain at historically high levels, according to the National Association of Realtors®.

RISMEDIA, April 7, 2006—Texas can brag about affordable housing, but sports dismal numbers in actual homeownership rates; our state homeownership levels lag four points behind the rest of the U.S. at only 65% versus the national average of 69%. That figures ranks Texas 45th in the country for homeownership.

RISMEDIA, April 6, 2006—Sales of vacation homes and investment homes set new records in 2005, with the combined total of second-home sales accounting for four out of 10 residential transactions, according to the National Association Of Realtors®.

Goodbye, Florida and California. Hello, Texas.
As last year’s hottest housing markets slow, the nation’s more undervalued markets are looking a bit more appealing, some experts say.