Entries from September 2007
August 2007
New listings are up by 3.15%.
Solds decreased by 14.63%.
As for Average Prices:
The “New Listings” average list price is up 14.56% to 299,055.
Sold average sales prices increased 8.33% to $256,035 compared to $236,355 in 2006.
We had 9,027 active listings during the same week in 2006? Today there are 11,261 active listings! That is a 24.75% increase from 2006.
- Numbers provided by Alamo Title.
Now for the my opinion of what these numbers mean….
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Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Buying Real Estate · Housing Market · Investing in Austin Real Estate · Real Estate · Real Estate Trends
Austin, TX home prices have appreciated over 10% in the last year and over 29% in the last 5 years according to the 2nd Quarter Analysis of Home Prices and Appreciation Rates released by the Office of Federal Housing Enterprise Oversight. www.ofheo.gov
U.S. home prices were 3.2% higher in second quarter compared with a year earlier, the slowest price gains in 10 years. A year ago, the year-over-year gain was 10%. After adjusting for inflation of about 2.1%, real home prices rose 1.1% nationally in the past year.
Five states showed lower prices over the past year: Nevada, Michigan, California, Massachusetts and Rhode Island. Utah had the best gains at 15.3% in the past year, followed by other states in the West and Southeast. (more…)
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Business Growth · Buying Real Estate · Housing Market · Investing in Austin Real Estate · Market Update · Real Estate
Do you have a horrible neighbor? If you do and don’t tell other people you are hurting future buyers in your neighborhood. These people can make life miserable for an entire neighborhood.
When I started real estate in the early 90’s there was NO internet to search for this kind of info about what kind of people live in your area. Now you can run web searches for the lasted trends or info on just about anywhere in the world. I wish I had access to this info back 15 years ago.
I can remember and old client who moved in to a northwest Austin neighbhorhood and found out he had a bad neighbor. It was nice house and clean yard, but there were some very scary folks that came over the that house everyday. After about 3 months my client found out from the police that that owner of the house was a drug dealer… (more…)
Categories: Austin Housing · Austin Real Estate · Everything Austin · Home Safety · Nationwide Update · Rants · Real Estate · Real Estate Trends
The Re-Development of the old Robert Mueller airport is creating a boost for economic development in Central East Austin. This area was just a wide swath of open land and warehouses is turning into a up and coming neighborhood.
Ground has recently broken for a 348 single-family residential phase in the redevelopment, ranging from $120,000 to $700,000. Homeowners will move into the first phase by the end of the year through early 2008.
The development is designed to be community and pedestrian friendly. Bike lanes and sidewalks will be included on all streets.
The homes will be built with front porches and garages in the backs of the houses. Approximately 4,500 homes will be built in the next 10 to 15 years.
The former airport will become a 711-acre development with housing, stores, offices and medical facilities. It is being designed as a pedestrian-friendly community with park space and an emphasis on green building. (more…)
Categories: Austin Housing · Austin Housing Market · Austin Land · Austin Real Estate · Buying Real Estate · Investing in Austin Real Estate · Market Update · Real Estate · austin tx homes for sale · homes for sale in Austin texas
I got an email today from a mortgage friend of mine, Walt Brewer, www.mortgagesbywalt.com on his assessment of the economy and what’s going to happen with interest rates.
The jobs report that came out this morning was more than just worse than expected, it was the worse one in 4 years with downward revisions to the last 3 monthly reports. This is raising a new question about the Fed meeting in a couple of weeks. It’s no longer will they or won’t they drop rates, but will they drop .25 or now .5?
All in all we are seeing rates making a run at getting back into the 5’s? Christmas so early? As with all big moves, there will be some profit taking either later today or Monday morning, but the good news is that we’re moving in the right direction.
If rates really do drop in the 5% range, then the buyers who have been sitting on the fence should take advantage of it. Keep in mind you’ve still got to have good credit history and plan on putting 20% down to get the best rates. The 0 down loans are possible but have much tougher criteria and higher interest rates.
Categories: Buying Real Estate · Investing in Austin Real Estate · Market Update · Mortgages/Financing
