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There is every reason to expect some seasonal softness in unit sales and prices in the coming months, but as I mentioned at the outset the Austin/Central Texas economy remains resilient. Economic strength continues to attract employers and employees to move here, that trend is filling available rental space and pushing rents upward, and as those new Austinites either sell homes elsewhere or just gain confidence in their futures they become Austin-area homeowners. Continue reading
Another honor for RE/MAX, bestowed by our clients … Continue reading
Lot’s of reasons to “like” Austin …. Continue reading
General economic uncertainty aside, I believe that buyers who stay on the sidelines over the next six to twelve months — especially in the Austin area — will find that they missed the best opportunity to become homeowners we have seen in many years.
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Six months ago I compared “typical” investments in 2010 in single family homes as rental properties in various parts of Austin. Now, I want to offer an updated look at residential real estate investments in the first half of 2011 — this time including single family homes, duplexes, and fourplexes. Continue reading
Even as chaotic market conditions still dominate press reports about real estate nationally, the Austin/Central Texas residential market continues to demonstrate fundamental strength. Sales volume is up for five consecutive months, and average and median home values have appreciated all year. Local and regional economic results and expectations are promising. Continue reading
Let’s say the rates bounced “all the way” up to 6%. What would that mean to the average homebuyer? To answer that, consider buying a $200,000 home (near the median in Austin), with a 3.5% down payment on a 30-year fixed rate FHA loan. Here’s what happens to the monthly payment (principal and interest only) as rates go up. Continue reading
Politics aside, I don’t see any practical reason that interest rates should spike next week based on what happens in the debt ceiling debate. I certainly believe we will have higher rates over the next year or two, but that will have almost nothing to do with all the noise coming from Washington now. Continue reading
Austin and Washington, DC continue to buck the trend, gaining value year-over-year. As I pointed out in my last post, the magnitude of the gain in Austin remains impressive, even compared to Washington, DC. Continue reading
The Case-Shiller indices have been losing ground year-to-year for several months. For much longer — about sixteen months — both Austin and Washington, DC have been gaining. And look at the magnitude of those gains — Austin vs. Washington! Yes, Washington home values have appreciated more than Austin since 2000, but it would have been very easy for five of those years to pay more for a home there than the current market would yield. Not so in Austin.
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