Austin Real Estate Advice

Citizen Input Called For I-35 Improvements

2010-08-23T16:01:00.003-05:00

Texas residents along the I-35 corridor will soon have a forum through which they can air their grievances with the congested highway with the beginning of several fall public workshops that will develop a blueprint for improving the corridor. Regional transportation officials have been meeting since January to begin developing the blueprint. The officials represent cities and counties

Weak Home Sales Numbers Don’t Tell Whole Story, Economist Says

2010-08-23T14:17:00.000-05:00

By Bryan Pope, Associate Editor, Real Estate Center Release No. 27-0810 COLLEGE STATION, Tex. (Real Estate Center) — Home sales statistics are likely to paint a picture of a weakening market through the end of 2010 and the first half of 2011. While it’s tempting to attribute the bleak numbers to a deteriorating housing market, an economist with the Real Estate Center at Texas A&M University said

What's In Your Utility Bill?

2010-08-22T00:39:00.001-05:00

As Austin Energy plans its first base rate increase in nearly two decades, a question has surfaced: In monthly bills, should customers pay for more than the cost of electricity? Read more here: Plan for rate increase raises questions about Austin Energy spending

Solar in South Austin

2010-08-21T21:31:00.004-05:00

For millions of years, the sun has yielded an abundance of free, natural energy, and that energy has been largely untapped for modern American homes. In a neighborhood now sprouting in South Austin, there is an effort afoot to change that. Read further here: South Austin neighborhood goes solar

What you can build for $100,000

2010-08-20T06:41:00.001-05:00

What you can build for $100,000

Austin-area home sales fall with expiration of tax credits

2010-08-20T06:39:00.001-05:00

Austin-area home sales fall with expiration of tax credits

2010-08-03T14:57:00.001-05:00

Austin Home Sales Increase 27%

2010-04-21T17:14:00.000-05:00

Austin area home sales rose dramatically in March — up 27 percent — compared with the same month last year, while the median price of buying a home was unchanged, the Austin Board of Realtors reported Tuesday. The median price for a single-family home in Central Texas was $180,000 in March, the same as March last year. Home sales for the month totaled $422 million with 1,784 single-family

Austin 3rd Best City To Relocate To

2010-04-21T17:10:00.002-05:00

Austin was ranked the third best city to move to in the United States, according to a RelocateAmerica.com report. The relocating resources website listed Austin just behind Huntsville, Ala. and Washington D.C. for overall best place to move. Those listed were nominated by RelocateAmerica.com users and then selected by the site's editorial team. The company also analyzed reviews,

Home Improvement Ideas

2010-03-04T13:31:00.000-06:00

Construction Up Along With Builder Confidence

2010-02-19T12:05:00.000-06:00

Construction of new homes rose to an annual rate of 591,000 in January, up 2.8 percent from December when the revised rate was 575,000, the Commerce Department announced Wednesday.Meanwhile, the monthly home builder confidence scale rose two points in February to 17. The National Association of Home Builders Chair Bob Jones said, "Builders are slightly more optimistic that the housing

Pocket Listing on Lake Travis Waterfront!

2010-02-11T18:09:00.000-06:00

Warm and welcoming custom waterfront home on Lake Travis. Boat dock included! 315 Harbor Drive in Spicewood, TX 78669. Click link for more info!http://tourfactory.com/574949

Austin Housing Update - January 2010

2010-02-11T17:33:00.002-06:00

Home sales in Austin were once again strong in January, with 1,646 purchase agreements signed. That is the sixth consecutive month where the change compared to a year ago was even or positive! Please click the link for further information on the Austin Housing Market and Stats!

Austin Luxury Condos Head To Auction - Austin Business Journal

2010-02-02T17:14:00.001-06:00

A chunk of units in the plagued Sabine on Fifth Austin residential complex will hit the auction block this month in an attempted recovery from foreclosure threat and lawsuit.Beverly Hills-based auctioneer Kennedy Wilson will sell-off 27 of the available 44 units Feb. 28, taking bids as low as $85,000 and $195,000. The apartments were previously listed near $204,900 and $550,000. Condo buyers

Facelift For Airport Gateway

2010-01-13T15:48:00.001-06:00

East Seventh St. between downtown and US 183 is a sight of degrading pavement and deteriorating buildings, but construction begins in February to overhaul the road into an attractive gateway to the airport.Austin-area firms Capital Excavation and Cash Construction have been awarded the 18-month, $11.5 million project that will improve traffic and business conditions from Navasota St. to North

Last Chance To Refinance Below 5%

2010-01-11T14:21:00.004-06:00

If you want to refinance your mortgage into a loan with a sub-5% interest rate, better hurry. Your window of opportunity is closing fast. Read Below...Last chance to refinance below 5%Posted using ShareThis

Keller Williams Realty Ranked as Top Real Estate Franchise by Industry Leader and Entreprenuer Magazine

2010-01-07T11:43:00.000-06:00

Keller Williams Realty joined the ranks of the top franchises in the world last week, when the company was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine. During the same week, the company was also voted the Most Recognizable Brand of Real Estate Franchises for 2009 in an industry-wide survey for the Swanepoel TRENDS Report. “The Swanepoel

3 Reasons Home Prices Are Heading Lower

2010-01-06T11:00:00.002-06:00

Interesting article from Money/CNN. 3 reasons home prices are heading lower - Dec. 31, 2009Posted using ShareThis

Austin Ranked Best Real Estate Prospects - Austin Business Journal

2010-01-04T12:41:00.000-06:00

Happy New Year! Best wishes for a healthy and prosperous 2010! As you can tell from the delay in contacting this blog, it's nice to be back to work after a much relaxed week. Good news hits Austin already for the 2010 real estate market. The following article from Austin Business Journal states that in a ranking of the top 10 markets for long-term office, industrial, retail and multi-housing

Year in review: condos, Brackenridge Tract, air quality

2009-12-23T18:50:00.000-06:00

Year in review: condos, Brackenridge Tract, air quality

Did You Know 4.0

2009-12-04T23:52:00.001-06:00

Interesting video about the surge and changes in technology. If you've got a spare 5 minutes...check it out!

Austin Noted as Hot Spot for Younger Population

2009-11-23T15:58:00.004-06:00

According to a report by the Wall Street Journal, Austin has been ranked fifth among cities where the younger population, particularly college graduates, is likely to gather in post-recession times. Austin was noted for having tech and art savvy individuals and also for its cultural appeal with attractions like Austin City Limits and South by Southwest. Washington, D.C. and Seattle tied for the

Texas Cities Outperform!

2009-11-17T13:48:00.003-06:00

Texas cities are outperforming others! This information is from the Real Estate Center at Texas A&M. I believe it tells what we already know, but I think the stats are interesting…and do have direct relation to our real estate market. Texas metros, led by number one Austin–Round Rock, claimed four of the top five spots and nine of the top 16 in the 2009 Milken Institute/Greenstreet Real Estate

The Austin Market - Week In Review

2009-11-17T00:52:00.001-06:00

The number of active listings are down 10.95% from last year. The number of new listings are up this week by 3.03% (compared to 11/9/08 - 11/15/08). Pendings are down this week by less than 1%. Sold residential units are up 69.80% compared to the same week last year.The Week in ReviewUnits for Sale:Nov. 8 - Nov. 14, 2009(compared to the same week in 2008)New listings up this week 3.03%Pendings

Long-Term Rates Fall to Lowest Level in Five Weeks

2009-11-13T18:25:00.001-06:00

Freddie Mac today released the results of its Primary Mortgage Market Survey® in which the 30-year fixed-rate mortgage(FRM)averaged 4.91 percent with an average 0.7 point for the week ending November 12, 2009, down from last week when it averaged 4.98 percent. Last year at this time, the 30-year FRM averaged 6.14 percent. The 15-year FRM this week averaged 4.36 percent with an average 0.6 point,

Austin Stats and Some GOOD NEWS!

2009-11-09T18:21:00.002-06:00

Good news: Fewer Underwater Mortgages Fewer people are underwater on their mortgages -- further evidence that the real estate free-fall may be slowing. Just 21% of all single-family homeowners owe more on their mortgage balances than their homes are worth, according to a third quarter residential real estate report from Zillow.com. That is down from 23% at the end of the second quarter. Why is

It's Official - Tax Credit Is Extended

2009-11-06T15:18:00.002-06:00

It’s official. President Obama has signed a bill that extends the tax credit for first-time home buyers into the first half of 2010. In addition, the extension also opens up opportunities for others who are not buying a home for the first time. Tax Credit For Home BuyersFirst-time home buyers (people who have not owned a home with the past three years) may be eligible for the tax credit. The

Lake Travis Schools - Denies Property Tax Increase

2009-11-05T16:59:00.002-06:00

Voters on Tuesday rejected a 2-cent property tax increase in the Lake Travis school district, with 59 percent voting agtainst the measure and 41 voting for it.When the school board approved its $79.5 million budget in August, board members also adopted the tax rate: $1.06 per $100 of assessed property value for maintenance and operations and 27.59 cents per $100 of value for debt payments.But

$8000 First-Time Home Buyer Tax Credit Agreed To Be Extended!

2009-10-30T15:59:00.000-05:00

Great news came across the newswire today about the First-Time home buyers tax credit. It looks like Senators have agreed in principle to extend the credit although it still has to be inserted into a bill & voted on by the house. Headlines across the nation are slightly confusing on whether or not this will go through, but many feel that it will surely pass.Here is what USA Today had to say

Homebuyer Tax Credit Could Be Extended

2009-10-29T18:27:00.002-05:00

The first-time homebuyer tax credit has been such a popular program that lawmakers are considering extending it past the November 30 deadline.Under the credit, new homebuyers can qualify for an $8,000 tax credit. As of now there are two options on the table: one, House proposal would extend the credit through the end of March, then lower and phase it out through the end of 2010; or two, a more

Austin Real Estate - 3rd Quarter Report

2009-10-27T14:42:00.002-05:00

The Austin real estate market tightened slightly during the 3rd quarter of 2009. Inventory for Austin as a whole is balanced – with a level of 5.7 months of supply. This is down from 6.3 months of supply at the end of the 2nd Quarter. However, throughout the Austin area, there are local variations in the market.Sellers Markets: 1 – 3 months of supplyThere are 9 local areas with less than 4 months

Let's Run For The Water

2009-10-14T16:56:00.001-05:00

Whether you’re a novice runner or hit the path along Lady Bird Lake as much as possible, I wanted to see if you would join me for the Gazelle Foundation’s 2009 Run for the Water presented by Keller Williams Realty!Every runner who enters helps one person in the country of Burundi gain access to fresh drinking water for the rest of their life. You can choose to run the 5k, 10-mile or bring your

School Selection Guide For Austin Area

2009-10-12T12:39:00.001-05:00

Schools

August 2009 Market Stats Are Here

2009-09-22T14:43:00.001-05:00

Curious to know the median price change by area for Austin Real Estate? Wondering if your neighborhood is selling? Here you go....August 2009 Stats August 2009 Number Sold Change by Area August 2009 Median Price Change by Area

Week In Review - September 13th-19th

2009-09-21T17:24:00.000-05:00

The number of active listings are down 8.80% from last year. The number of new listings are down this week 14.92% (compared to 9/14/08 - 9/20/08). Pendings are up this week 31.47%. Sold residential units are up 16.61% compared to the same week last year.The Week in ReviewUnits for Sale:Sept. 13 - Sept. 19, 2009(compared to the same week in 2008)New listings down this week 14.92%Pendings are up

Homebuyer Protection Alert!

2009-09-21T14:05:00.001-05:00

Recent Federal legislation can impact your closing date. When completing your Purchase Agreement, even if you are prepared to move forward and close quickly, a more conservative timeframe of at least 30-45 days from the time of the contract acceptance would be a more realistic expectation at this time.Listed below is information on two pieces of legislation that stand to impact your closing date,

Why Rent: Advantages of Home Ownership

2009-08-30T12:25:00.000-05:00

It's staggering when you think about the cost of living, especially if you're a renter and not a home owner. If you are currently paying $1,000 a month for rented housing, over the next three years your property management company will effectively have reaped $36,000 of your hard earned cash. In most cases, you know your rent will go up every year, even if you live in an area that has rent

Why Austin Remains Strong and Will Recover Early as the Economy Improves

2009-08-24T14:29:00.001-05:00

Commentary by: David TandyPresident, Gracy Title CompanyAs the Austin Chamber of Commerce recently noted, even though Austin showed a slight job loss in June, compared to other cities, we continue to be the number one city in year-over-year job growth of the Top 50 Metro Areas. Even with Austin’s substantial increase to a 7.1% unemployment rate, we still ranked number three for the lowest

Austin Market Misc.

2009-08-06T15:54:00.001-05:00

The Austin real estate market, along with a number of other cities in the state of Texas, was hit quite hard by the economic recession. Austin, along with every other large city in the United States, is composed of residential and commercial sectors of real estate, which are affected in different ways by adverse economic situations. It appears that the Austin real estate market has experienced a

Homegrown in Central Texas

2009-08-04T13:37:00.002-05:00

Thanks to Gracy Title, here is a great link to a "local guide" of products and services:GO LOCAL

Month In Review - June 2009

2009-07-06T21:16:00.001-05:00

Units for Sale: (compared to June 2008)New listings were down 22.82%. Pendings were up 4.09%.Solds decreased by 8.10%. As for Average Prices:The "New Listings" average list price is down 1.02% to 312,793. In June 2008 the average list price was $316,001. Sold average sales prices decreased 7.52% to $247,041. For June 2008 it was $267,130. DID YOU KNOW?That we had 12,711 active listings

Mortgage Interest Rate Myths

2009-07-06T18:57:00.001-05:00

This may come as a shock to many borrowers, but it's absolutely true. Mortgage interest rates are not set by the Federal Reserve and, contrary to popular belief, mortgage rates are not directly tied to the yields of US Treasury bills, bonds, or notes – including the 10-year Treasury Note. That's right. Despite what you might hear in the media, mortgage interest rates are actually set by lending

In Review

2009-06-16T09:19:00.000-05:00

The number of active listings are down 7.75% from last year. The number of new listings are down this week 27.55% (compared to 6/8/08 - 6/14/08). Pendings are up this week 11.66%. Sold residential units are up 4.07% compared to the same week last year.WEEK IN REVIEWUnits for Sale:June 7 - June 13, 2009(compared to the same week in 2008)New listings down this week 27.55%Pendings are up 11.66%Solds

Energy Conservation Audit and Disclosure (ECAD) Ordinance

2009-06-01T19:15:00.001-05:00

The Energy Conservation Audit and Disclosure (ECAD) ordinance requires that before the sale of their home, owners of a single-family home must have an energy audit performed on the property. This new audit has taken affect today, June 1st, 2009.If a home needs an audit, the seller must provide a copy of the audit to the purchaser or prospective purchaser. The auditor must provide a copy of the

Austin Market News

2009-05-20T11:09:00.000-05:00

Anyone looking for real home appreciation in a market that defies the 'bubble burst' reverse trends we hear about in the coastal (big city) markets across the States should strongly consider Austin as a prime Real Estate investment.We continue to see a solid upward trend in Austin. These are great times to sell as price appreciation is on its way up, but even better to get in on buying a home

Austin Real Estate Gaining Momentum

2009-05-14T12:07:00.001-05:00

According to the March 2009 Multiple Listing Service report by the Austin Board of REALTORS®, the volume of single-family home sales in March 2009 was 1,421, down 22 percent from March 2008, and the median price was $180,160, down 4 percent over the same time period. Jay Gohil, Chairman of the Austin Board of REALTORS®, provided some insight, “Sales volumes in March are still down compared to a

The Week in Review

2009-05-11T21:09:00.001-05:00

Units for Sale:May 3 - May 9, 2009(compared to the same week in 2008)New listings down this week 23.30%Pendings are up 9.69%Solds down 22.38% As for Average Prices: May 3 - May 9, 2009 The "New Listings" average list price is up 3.49% to 340,555. Sold average sales prices decreased 31.61% to $231,097. In 2008 it was $337,917 for the same week. Check it out at http://www.alamotitle-austin.com/

How Adjustable Rate Mortgages Work

2009-05-11T10:26:00.001-05:00

During the last decade, Adjustable Rate Mortgages (ARMs) have increased in popularity among consumers. These days, few homeowners (especially first-time buyers) remain in their homes for more than seven years. In this case, it often makes sense to get an adjustable rate mortgage with a lower rate, especially one with a 5-year or 7-year fixed portion, since they won't have the loan long enough to

Dos and Don'ts Of Home Selling

2009-04-29T14:07:00.001-05:00

An energetic real estate agent can have your home on the market in a day. However, to provide the kind of marketing exposure you need to sell in today's market takes a little longer, unless your home is photo-ready when you list.Ideally, you should start planning for your home sale months before you want your home to be on the market. First find an agent to represent you. Then, create a game plan

8 Things To Do Before Refinancing

2009-04-24T16:19:00.002-05:00

With 30-year interest rates well below 5 percent, and 15-year interest rates between 4 percent and 4.5 percent, it's time to start seriously thinking about refinancing your mortgage.But before you high-tail it to the nearest mortgage lender and fill out a mortgage application, there are eight things you should do:1. Check out the interest rate you have on your current loan. When interest rates

Seller financing a risky proposition? What happens if buyer declares bankruptcy?

2009-04-24T16:15:00.001-05:00

Question: I am thinking of providing owner financing to a potential buyer of one of my homes. This would be a second home for my buyer and he would use it as his vacation home. What would happen to that second home if he were to declare bankruptcy or if he loses his primary residence in a foreclosure?Answer: We think you're asking the wrong question. The real question you should ask is this:

What's Your Score?

2009-04-23T11:06:00.001-05:00

How is it that you can apply for a mortgage, credit card, or car loan over the phone and be approved or declined in a matter of seconds? For speedy access to credit - and the mountain of credit card "preapprovals" you get in the mail each month - you can thank an invention called the FICO score.Your FICO score is the most common type of personal credit score, used in some form by most lending

Austin Business...Moving Up The Ladder

2009-04-07T14:44:00.003-05:00

Another reason Austin Real Estate is a great investment! Growth in Austin continues...and Forbes has moved Austin UP in the rankings for the best place for business and careers.Forbes.com ranks Austin the 8th best place for business and careers in its latest list.Texas' Capital City rose significantly from 47th on last year's list. Austin was behind cities such as No. 1 Raleigh, N.C. and No. 4

The Week in Review

2009-04-07T11:46:00.001-05:00

Units for Sale:Mar. 29 - Apr. 4, 2009(compared to the same week in 2008)New listings down this week 19.86%Pendings are down 8.75%Solds down 17.63% As for Average Prices: Mar. 29 - Apr. 4, 2009 Sold average sales prices increased less than 6.31% to $266,905. In 2008 it was $251,063 for the same week

The Week In Review

2009-03-17T12:38:00.001-05:00

Units for Sale:Mar. 8 - Mar. 14, 2009(compared to the same week in 2008)New listings down this week 18.41%Pendings are down 16.47%Solds down 29.34% As for Average Prices: Mar. 8 - Mar. 14, 2009 Sold average sales prices increased less than 3.02% to $240,861. In 2008 it was $233,794 for the same week.

Tips to Avoid Identity Theft

2009-03-16T12:46:00.001-05:00

Obviously this title doesn't suggest anything having to do directly with Austin Real Estate...however, after reading the article below I did think it prudent to share the information. I had no idea that this kind of theft has become the crime 'winner'. I suppose though having your credit identity hacked and torn apart does directly effect your potential real estate transactions. Take a few

Choosing a Fixed Rate Loan

2009-03-10T16:58:00.001-05:00

Fixed rate loans generally come with one of two options; the 30-Year Fixed and the 15-Year Fixed. If a borrower is planning on being in the same home for a long period of time, a 30-Year Fixed may be more attractive because it offers stability. The monthly payment will remain consistent over the life of the loan. If interest rates are at historic lows at the time the borrower is seeking to obtain

Market Stats - March 10th, 2009

2009-03-10T16:57:00.000-05:00

The number of active listings are up less than 1% over last year. The number of new listings are down this week 22% (compared to 3/2/08 - 3/8/08). Pendings are down this week 17%. Sold residential units are down 39% compared to the same week last year. How are we doing on sales prices? To get the full picture, check out the our web site for latest sold data. For additional information on the

Enhanced Tax Credit Provides Outstanding Opportunity for Home Buyers

2009-03-04T12:30:00.000-06:00

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. Click HERE for more detailed information.

Keller Williams now 3rd LARGEST Real Estate Franchise

2009-03-04T12:09:00.000-06:00

Austin-based Keller Williams Realty is now the third-largest real estate franchise in the country, as measured by number of agents.Keller Williams had 72,794 agents at the end of 2008, according to Real Trends, a trade publication. That pulled it ahead of Re/Max International, which had been third.The company has 679 offices in the United States, and said it distributed $30 million in profits to

Austin Joins Top Ranks for Growth

2009-03-04T12:03:00.000-06:00

Forbes magazine ranked Austin, Texas, #3 in its Best Cities for Jobs in 2008 and that makes Austin a great target area for real estate. The Texas state capital city came in #1 for income growth in the Forbes list and #2 for job growth. When you consider that houses are where the jobs go at night, then Austin homeowners are sure to rest well, knowing they're in a good spot for equity growth.While

If I Sell My Home, Will I Have to Pay Capital Gains Tax?

2009-02-27T17:13:00.001-06:00

The IRS permits a maximum exclusion on capital gain of $250,000 for individuals and $500,000 for married couples filing a joint return who sell their home, but of course some conditions apply.For the five-year time-frame prior to the date of the sale of your primary residence, you must meet the Ownership and Use Tests the IRS provides in Publication 523, Selling Your Home. These rules ensure you

What Is Title Insurance?

2009-02-21T12:21:00.000-06:00

Title insurance is a policy that is usually issued by a title company to protect the lender against something that might have happened in the past, rather than something that might occur in the future. In essence, an extensive search of public records is conducted by the title company to validate who has held title to the property in the past. The lender wants to know if there are any liens,

First-Time Home Buyers FAQs

2009-02-14T08:45:00.002-06:00

Buying a home is one the biggest financial decisions most people will make in their entire lives, so it's only natural to have questions about the process, especially for first-time home buyers. What are the benefits of owning versus renting a home? When you add up the tax benefits of owning a home versus renting a home, it costs no more to be a homeowner than it does to rent, in many cases. With

New Stimulus Package Proposes Tax Credit For Home Buyers

2009-02-09T11:45:00.001-06:00

Last week, the Senate verbally approved the Fix Housing First Act, an important amendment to their version of the Economic Stimulus Bill. The piece of legislation and the Stimulus Bill are still awaiting Senate and House negotiations, but could provide all home buyers of primary residences over the next year with a tax credit of $15,000 or 10 percent of the cost of the home, whichever is less.

New Stimulus Package Proposes Tax Credit For Home Buyers

2009-02-09T11:45:00.000-06:00

Interests Rates Change Daily

2009-02-09T11:15:00.000-06:00

Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know there is a strong probability rates will go up again, and vice-versa. Certain economic indicators such as unemployment data, consumer price index, retail sales data, and consumer confidence all have an effect on mortgage interest rates. But the key factor

Mortgage Interest Rate Myths

2009-01-26T10:24:00.001-06:00

Week In Review

2009-01-14T09:58:00.000-06:00

Units for Sale:Jan. 4 - Jan. 10, 2009(compared to the same week in 2007)New listings down this week 37.67%Pendings up 1.11% Solds down 33.90% As for Average Prices: Jan. 4 - Jan. 10, 2009 Sold average sales prices decreased 14.14% to $242,093. In 2008 it was $281,978 for the same week.

Avalon Planning Residential Lots

2009-01-06T16:22:00.000-06:00

An Orlando-based developer has purchased a 68-acre tract near the Dell headquarters with plans to develop up to 140 residential lots. Avalon Park Group bought the land near the I-35 and E. Yager Lane intersection from locally based Solo Star Realty Inc. The site currently has multiple zonings, but Avalon is working to have it rezoned exclusively for single-family residential development.

December 2008 Austin Real Estate (Short) Stats

2009-01-06T09:40:00.002-06:00

Units for Sale: (compared to December 2007)New listings were down 12.84%. Pendings were up 34.86%.Solds decreased by 16.01%. As for Average Prices:The "New Listings" average list price is up 2.36% to 300,316. In December 2007 the average list price was $293,392. Sold average sales prices decreased 5.66% to $238,867. For December 2007 it was $253,205

Don't Underestimate Inflation

2009-01-05T13:17:00.001-06:00

Inflation has been tame for so long that it's easy to ignore when planning for retirement. However, even inflation of 2% or 3% per year, over a period of many years, can seriously erode the purchasing power of your funds. At 2.5% inflation, $1 today will be worth 78 cents in 10 years, 61 cents in 20 years, and 48 cents in 30 years. That can have a major impact on those entering retirement

Should You Consider International Investing?

2009-01-05T13:15:00.001-06:00

During the 1990s, the U.S. stock market significantly outperformed international stock markets. International investments drew little attention during that time. But now the situation has reversed, with international investments outperforming U.S. stock investments over the past few years. Is now the time to take another look at international investments? Before deciding, consider these

Week In Review

2008-12-30T20:25:00.001-06:00

Units for Sale: Dec. 21 - 27, 2008 (compared to the same week in 2007) New listings down this week 34.14% Pendings up 20.0% Solds down 57.97% As for Average Prices: Dec. 21 - 27, 2008 Sold average sales prices decreased 29.16% to $200,635. In 2007 it was $283,230 for the same week.

Are Condos A Good Purchase?

2008-12-26T10:52:00.000-06:00

Condominiums are traditionally the most volatile of real estate investments. Ask anyone who bought condos in the 1970s or 1980s and they’ll show you the financial scars on their backs. Condos have made a strong comeback in recent years because of the popularity of purchasing second homes, particularly in resort areas. Whether this trend will continue is uncertain, but keep in mind that

Residential Closings; Year to Date

2008-12-23T01:23:00.001-06:00

Mortgage Rates At 37-Year Low

2008-12-18T18:10:00.000-06:00

Freddie Mac says mortgage rates at 37-year low, spurring historic refinancing opportunity WASHINGTON (AP) -- Rates on 30-year-fixed mortgages dropped this week to their lowest levels in at least 37 years, as the Federal Reserve pledged to pour money into the mortgage market in an effort to spur the moribund U.S. housing market.

Work To Start On Seaholm Redevelopment Late Next Year

2008-12-16T21:58:00.000-06:00

By Shonda NovakAMERICAN-STATESMAN STAFFConstruction could begin by late next year on the $117 million redevelopment of the former Seaholm Power Plant in downtown Austin. The public-private venture is expected to transform the decommissioned power plant on West Cesar Chavez Street into a mix of shops, offices, condominiums, a boutique hotel and special-events space.

Austin To See Modest Job Growth

2008-12-16T21:53:00.000-06:00

Survey finds "fair" outlook for 2009. By Claudia GrisalesAMERICAN-STATESMAN STAFFCentral Texas employers have modest plans to add jobs in the first three months of 2009, according to a Manpower Inc. survey set to be released today. The employment services firm, which surveyed a sample of employers in the country's 200 largest metropolitan regions, found that 15 percent of firms

Mortgage Rates Sink to 4 1/2 Year Low

2008-12-16T01:54:00.000-06:00

Rates on 30-year fixed rate U.S. mortgage loans fell last week to their lowest point since March of 2004, a more than four and a half year low, according to data from mortgage company Freddie Mac Thursday. “Following the release of the November employment report, which showed the largest monthly decline in jobs since December 1974, bond yields fell slightly this week allowing fixed-rate

3 News Stories Every Homeowner Should Know

2008-12-09T10:07:00.001-06:00

During tough financial times, news is king. A simple announcement from the media can instantly send the financial and mortgage markets racing in either direction. As the financial markets continue to adjust to the credit crisis, current and potential homeowners will have to adjust and react immediately as well. Headline #1: Mortgage Rates Plummet Thanks to the FedIn late November, an

Which Cities Will be Strongest During the Economic Crunch?

2008-12-09T10:04:00.001-06:00

According to Bizjournals, they will be:Las Vegas, NVRaleigh, NCCape Coral-Fort Meyers, FLAustin, TXPhoenix, AZMcAllen-Edinberg, TXHouston, TXSalt Lake City, UTWichita, KSCharlotte, NCTexas has three cities on the list and Austin is at #4. What Bizjournals looked at was four key indicators — population, private sector employment, per capita income and gross metropolitan product. Read the story

Market Update

2008-10-16T19:07:00.001-05:00

September Austin real estate stats are below. Average and median prices are doing what they’ve been doing most of the year, which is treading water, trending down somewhat, but most notable is that the expired and withdrawns continue to rise, and for September moved past the 50% mark, meaning over half of the homes that departed the MLS in September did not sell. Here is a quick summary of the

Austin Continues to be Economic Top Performer Nationwide

2008-09-18T15:46:00.000-05:00

The Austin Metro area ranks 4th among the country’s largest metropolitan areas on the Milken Institute and Greenstreet Real Estate Partners’ 2008 Best Performing Cities list. Texas as a whole did well, with Dallas, Houston, San Antonio, Killeen, and McAllen joining Austin in the top 25 of large metro areas. The top “small metro” area in the country was Midland TX. Last year Austin ranked number

New Austin and Travis County Floodplain

2008-09-10T17:16:00.002-05:00

The city of Austin has sent out letters to people who either own or rent property in a floodplain or are within 150 feet of a floodplain. If you think you may be in a floodplain, but are not sure, click www.cityofaustin.org/watershed/flood.htm and click the interactive map. You can also contact your insurance agent to find out.The letter goes on to state that FEMA began updating floodplain maps

Austin Real Estate - Current Review

2008-09-10T12:19:00.002-05:00

1) Austin real estate home prices are still very robust. While overall Austin home prices are down 1% when comparing August 2008 to August 2007, prices are up 27% since the market peak in the year 2000 from $90 per square foot to over $122 per square foot in 2008. 2) Home sellers in Austin who price their home aggressively are getting deals done. The median list price for homes pending sale in

Latest Mortgage Rates

2008-08-08T15:17:00.000-05:00

What Constitutes Closing Costs? Closing costs are expenses that cover fees associated with the transfer of property ownership, fees paid to state and local governments, and the costs of obtaining a mortgage loan. Some of

Fed Stands Still – Time to Make Your Move

2008-08-07T17:33:00.000-05:00

The Federal Reserve held the line on Tuesday–leaving the Fed Funds Rate at 2.00% for the third straight meeting. The decision, however, was anything but cut-and-dry. Earlier in the week, the Personal Consumption Expenditure data indicated that inflation climbed 0.8% overall in June, which is the highest inflation jump in 27 years. In addition, the report indicated that inflation now sits at

2008 Austin-Round Rock Real Estate Market Overview

2008-07-22T11:37:00.002-05:00

The Real Estate Center at Texas A&M came out with its 2008 Market Overview for major metro areas in Texas. This is for the Austin MSA, which includes Bastrop, Caldwell, Hays, Travis and Williamson Counties. Cities included are Austin, Cedar Park, Georgetown, Leander, Lockhart, Pflugerville, Round Rock, San Marcos and Taylor. Some highlights:2007 population estimate was 1,598,161, up 5.6% from

What Happened in Austin Real Estate for May, 2008?

2008-06-25T11:12:00.001-05:00

The average sales price for houses in Austin increased 5.14% in May from $259,958 in May 2007 to $275,711 May 2008. Sales prices had been flat or falling since Feb 2008, but May has us heading the other way again. We continue to have a large number of “failed sales” listings though, and days on market continues to creep upward. In short, there are a lot of mixed signals in the sales data. Here is

What Happened in Austin Real Estate for May, 2008?

2008-06-25T11:12:00.000-05:00

Experts: Amid rising building costs, deals on new homes won't last long

2008-06-23T15:30:00.001-05:00

(Re-printed) from Austin American-Statesman; June 2oth, 2008 By: Shonda Novak , M.B. TaboadaBusiness might not be any easier for builders in the coming months.They face rising construction costs and consumers who want better deals because they see the national housing market plummet, a local housing expert said Thursday.For the next half of the year, builders will need to continue to be more

15 - Year Fixed Rate Loan

2008-06-23T15:25:00.000-05:00

A 15-Year Fixed Rate loan works well for borrowers who are nearing retirement and want to be debt-free when they get there. Because payments in a 15-year scenario are amortized over half the length of a 30-Year Fixed Rate loan, the monthly payments will be significantly higher in comparison. This is an important factor to consider before committing to a 15-year loan. However, the interest rate on

Austin Recession Proof?

2008-06-10T13:56:00.000-05:00

Recession Proof Austin According to Forbes magazine, Austin is ranked #3 in recession proof cities; right behind San Antonio (#2) and Oklahoma City (#1). The reason for the high ranking is because of low unemployment and affordable housing costs. Unemployment in Austin, Texas is 3.6% percent down from 3.8% at this time last year and the median price of a

The Advantages of FHA Loans

2008-05-23T17:28:00.000-05:00

In many regions of the U.S., FHA loans have not been utilized for years, so a lot of real estate agents and mortgage originators aren't familiar with this great resource. The following are a just a few of the recent changes that have made FHA loans a more attractive option again for some consumers looking to buy a new home or refinance an existing one:1) Congress passed the Stimulus Act of 2008.

What Do Interest Rates Really Mean?

2008-05-20T17:44:00.000-05:00

Financing Solutions with David Reed What interest rates really mean The Fed did this! The Fed did that! Rates are up! Rates are down! Aaaagggh! Okay, now exhale. In turbulent economic times the media can’t wait to report what interest rates are doing. Pundits prognosticate, forecasters forecast and soothsayers sooth. When should you buy a home based upon interest rates and when is it the

Villa Muse Talks Officially End with City of Austin

2008-05-20T17:42:00.000-05:00

You may remember reading a couple of months ago that the “Titanic-size” Villa Muse development project was in trouble and going under fast; a statement made by Villa Muse last week confirms the ship has sunk – at least in Austin. After Austin City Council refused to release some 2,000 acres in East Travis County from its jurisdiction, it is now being reported that Bastrop, despite its efforts to

Year-To-Date Sales Comparison Through April 2008

2008-05-12T21:07:00.003-05:00

Having a Greener Home

2008-05-12T18:41:00.001-05:00

With all the concern about the environment, it is no wonder that more and more people are interested in making their home more green. The list below will provide you with several small changes that will make a big impact. Green Home: Tip One One of the easiest ways to make your home more green is simply turning down your thermostat. By lowering your thermostat one degree in the winter and

Austin Real Estate Statistics for April 2008

2008-05-12T17:46:00.000-05:00

FORBES.COM ranks Austin as #3 in America's Recession-Proof City, even if our sales are still down, we are still in good shape.In Central Austin, the residential sales are down 15% compared to last April (2007). In Lake Travis ISD, residential sales are down 13% compared to last April. Last year, June had the most sales at over 3,000 listings in both Austin and Lake Travis ISD (over 110). Let's be