NOTE: This article is part of the forthcoming book, the Gotcha Guide™ to Buying or Investing in Real Estate. Email us to join the mailing list for the release date. by DeeinAustin™

Here’s a sentence I bet you never thought you’d never see. Did you know that Brittany Spear’s ex, Kevin Federline, can try to help a seller avoid foreclosure using a short sale?

I’ll explain how to avoid foreclosure using a short sale later, but first…

A POP QUIZ:

WHAT CRITERIA MUST BE MET TO HELP A SELLER IN FORECLOSURE WITH A SHORT SALE?

A) Be a backup dancer, rapper wannabe, and divorceé of an out-of-shape pop singer.
B) Hold a valid real estate license.
C) Take a special short sale introduction course.
D) Obtain a short-sale certification prior handling the first listing.
E) None of the Above.
F) Both B and C.

Correct Answer: Although "A" is my favorite, the answer is…
E-NONE OF THE ABOVE. Even Kevin Federline (AKA "Some Dude") can "help" a seller with a short sale preforeclosure!

WHY THE THOUGHT OF "SOME DUDE" HANDLING YOUR SHORT SALE IRKS ME

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by DeeinAustin™

Ok. So I am officially excited. I’ve been sniffing the pollen of the new mixed-use real estate developments, condo towers, and the new urbanist communities coming in Greater Austin 2008 through 2010.

Central Austin development took a step forward last week, with two huge projects breaking ground.

The Four Seasons Residences luxury condo tower in Downtown Austin broke ground last week, as did the first phase of the highly-anticipated Crestview Station in North Central Austin.

Both are scheduled for completion in 2010.

COOL! CRESTVIEW STATION NORTH CENTRAL AUSTIN FINALLY BREAKS GROUND

"Crestview Station will be one of Austin’s biggest
transit-oriented developments…to the tune of $100 million. It will be
on the Capital Metro commuter rail line currently scheduled
to start service this year, and is expected to bring housing and retail and
office space to the neighborhood". ~Austin American Statesman 1/30/08. 

The 73-acre, mixed-use project between North Lamar Boulevard and Morrow Street will
be the first big transit-oriented development on the new commuter rail line.
Midtown Commons at Crestview, will be first residences. Too bad they’re only rental apartments.

FOUR SEASONS RESIDENCES, DOWNTOWN AUSTIN ON THE WAY

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By DeeinAustin™

I was in a Austin real estate market update class this week where Residential Strategies gave a year-end summary and forecast for the Austin area.

Here is what was said for the January 2008 market summary.

1. Texas isn’t doing bad compared to other states, but many national builders are in trouble due to their activity in Florida, Arizona and California.

2. Dallas, Houston, and San Antonio real estate markets are overbuilt in the affordable home price ranges. Builders are doing auctions and fire sales to get rid of their sub-$150k inventory.

3. Austin continues to buck trends and will continue to do well in 2008. The downside is that national builders in Austin will still suffer because their parent companies are in trouble.

4. National builders located in Austin have already pulled back on inventory, which may cause a shortage in 2009.

WHY NEWMARK HOMES AND OTHER AUSTIN BUILDERS MAY BE IN TROUBLE

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