2nd Wave of Foreclosures on the way? How is Austin, TX impacted?

For those of you who didnt see the 60 minutes story last sunday -- or those of you who recorded it but only got the first half ( due to the football game) --- you must see this story.  60 minutes: 2nd Wave of Foreclosures coming

Austin had a low number of subprime mortgages-- so we wont suffer the same as other markets.  But if we are just halfway through this giant mess--- Austin sellers will suffer because the buyers are going to have a really hard time getting loans. 

What's the moral of the story for Austin sellers? Be reasonable.  This climate is going to make buyers very nervous.  

Hire  real estate agent that knows the market and can explain the market forces that you will be up against.  Being informed is half the battle.