Entries from October 2007
Today the Fed announced its second consecutive decrease in rates, cutting another 0.25% from the Fed Funds Rate. This change could directly impact millions of American borrowers.Are you one of them?
Adjustable Rate Mortgages
If you currently have an ARM that is scheduled to reset in the next 14 months, then today’s news is good for you. Now is the time to investigate your options. Even if you have a pre-payment penalty or you’re behind in your payments, don’t delay. There may still be options available to get you out of your ARM and into a mortgage you can afford, including FHA or the new FHASecure program introduced by the President.
Important: The FOMC does not meet in November, so ask yourself this: Can you really afford to roll the dice until its next meeting in mid-December?
Buying at the Bottom of the Market
We know many buyers are waitng for prices to fall here in the Austin, Texas real estate market. But we aren’t seeing a market that is declining on pricing. If you’re looking to invest in real estate in the next six to twelve months, and recent rate cuts have inspired you to start taking action, now is the time to prepare yourself for intense credit scrutiny. There are a lot of great real estate deals to be had today. But if your credit doesn’t stand up in today’s tight-fisted credit environment, then you could easily miss out on an exceptional opportunity.
What’s the point of taking advantage of discounted home prices if you can’t qualify for the right mortgage or interest rate that makes it all worthwhile? Get pre-approved now and know exactly what you can afford. And with the right REALTOR® on your side, you can have incredible negotiating power especially if in area of Austin has a lot homes for sale!
Refinancing – Know Your Options
While rate cuts often spark ideas of refinancing, this may not be the best choice for everyone. In some cases – especially in a market where home values are declining – refinancing may be impossible or disadvantageous. Contact us for a free mortgage review. Based on your individual goals and financial needs, we can explore every available option for you and your family.
Categories: Austin Housing Market · Austin Real Estate · Buying Real Estate · Housing Market · Investing in Austin Real Estate · Market Update · Mortgages/Financing · Real Estate
Tagged: adjustable rate mortagages, ARM, austin, Austin Texas, home prices, refinancing
The number of active listings are up 25.04% this week over the same week in 2006. New listings are up, while pending and sold homes are down compared to sales for the same time in 2006. We had 9,123 active listings during the same time in 2006? Today there are 11,407 active listings! That is a 25.04% increase from 2006.Recap for September 2007
New listings are up by 19.21%. (compared to the same month in 2006) Pendings were down 22.96% and the # of Solds decreased by 29.17%.
As for Average Prices in September:
The “New Listings” average list price was up 19.58% to 317,707.
Sold average sales prices increased 12.67% to $253,062 compared to $224,614 in 2006
So how does this affect home sellers? You will need to find out how many “Months of Inventory” are in your area and how quickly homes are selling and in what price range. If you are competing with a large number of homes for sale you will need to price your home about 20-30% below the market range to sell quickly.
Categories: Austin Housing Market · Austin Real Estate · Investing in Austin Real Estate · Market Update · Real Estate · Selling
Tagged: Austin real estate update, home sellers, listings, october 2007 austin real estate, sold homes
Lately we have noticed increased inquires from our relocation clients about Pflugerville. Where is it? What are the schools like? and..”What’s with that “P”? So the following is some information compiled from various sources.
Pflugerville is home to more than 25,000 residents. Many of them work in the high-tech centers surrounding Pflugerville, such as Dell Computer, Samsung, IBM, Motorola, Applied Materials, Austin Semiconductor, AMD and similar companies. The greater Pflugerville region is one of the fastest growing areas in Central Texas offering a unique community with an educated and varied workforce. (more…)
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Buying Real Estate · Real Estate
Tagged: Pflugerville, Pflugerville ISD, relocation, Central Texas, Dell Computer, Samsung, IBM, Motorola, Applied materials, Austin Semiconductor, AMD
Interurban Development LLC is an Austin-based real estate developer is set to begin their Skyline Condo project at the intersection of East Eighth Street and Interstate 35 on Robertson Hill, between the French Legation and Interstate 35. Skyline will feature a 14,000-foot “Skydeck” offering panoramic views of downtown Austin.
The Skydeck will feature an open-air amphitheater, a community fire pit, a saltwater pool and a spa. Skyline will offer four home types: town homes, terrace homes, brownstone style walk-up homes and lofts. These homes will offer floor-to-ceiling windows, open loft plans, hardwood floors and built-in appliances.
The public sales period begins today. A preview event is scheduled for Saturday from 1 to 6 p.m. at East Eighth Street and Interstate 35. Badges must be downloaded from http://www.skylineaustin.com/view
in order to attend.
This is an interesting project for the downtown Austin sector because I believe the price points for units is going to be lower then what we’ve seen with a lot of the downtown condos being sold. As soon as I’ve got more details on pricing I will report it.
Categories: Austin Condos · Austin Housing · Austin Real Estate · Buying Real Estate · Downtown Austin · Downtown Austin Projects · Real Estate · austin tx homes for sale · homes for sale in Austin texas
Tagged: built-in appliances, hardwood floors, home types, lofts, open loft, real estate developer, skydeck, Skyline condo, Skyline condo project, skyline condos, terrace homes
This past week I was profiled in article in the Austin Business Journal about how Real estate agents and technology go together like buyers and money. Somewhere around 80% of the buyers I meet today have already started their home search online. This is the typical of the house-hunting process today with everyone so wired to the internet.
“The majority of consumers start their search online and just want to be anonymous and look at what’s for sale and how much it costs, The Internet opens up more conduits, but we have to find ways to capture those consumers and build some kind of relationship and level of trust.”
I started writing this blog a little over 2 years ago, posting facts and opinions about the goings-on in the Austin real estate scene, and now get the majority of my web traffic from it. It allows to start the relationship building process with potential home buyers. We have to take advantage of the tools that will best help us serve clients. I feel that if agents aren’t taking advantage of these tech tools and getting wired in your business will become obsolete in next 10 years.
While this will be the way consumers start their home search process, agents still have to make a personal connection with them. It’s old saying, “High Tech, Soft touch”.
To read the complete article click on Wired Buyers.
Categories: Austin Real Estate · Buying Real Estate · Housing Market · Real Estate · Real Estate Trends · Real estate marketing
The number of homes sold in August 2007 fell two percent from a year ago to 2,645.
The median price increased 7 percent from July 2006 to a record $190,000.
Homes remained on the market an average of 55 days, down 7 percent from a year ago.
Active listings increased by 13 percent from August 2006 to 9,451, while new listings fell by 2 percent to 3,670.
Townhouse and condominium sales rose, with July’s 333 sales representing a 17 percent increase from one year ago.
The median price for townhouses and condominiums rose 36 percent from last July to $180,000.
Central Texas’ market for existing single-family homes remains healthy, according to the most recent MLS report from the Austin Board of Realtors.
How is the Surrounding Austin Real Estate Market Doing? (more…)
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Buying Real Estate · Investing in Austin Real Estate · Real Estate
