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We keep hearing rumors that the first-time homebuyer credit (10%, up to $8,000 until 11/30/09) will be extended, and perhaps even expanded. Whatever the decision is, we probably won’t know until it’s too late to take advantage of the current program. Buyer’s who want to take advantage of the current $8,000 incentive have, maybe, a … Continue reading
Wow! No time for blogging! (Isn’t there a song or a movie in there somewhere?) Don’t let anybody tell you that the Central Texas real estate market is slow! The numbers say that YTD volume is off more than 20% in 2009 vs. 2008, but I really can’t tell it in my practice. I have … Continue reading
There has been a extensive dialogue this week on the National Association of Realtors group on LinkedIn.com about whether/how the tax credit for first-time homebuyers should be extended after its currently scheduled expiration of November 30. 2009. The general consensus is a preference for little or no government manipulation of market forces, but now that … Continue reading
An article with an LA Times byline appeared in today’s Austin American-Statesman: “Days of using homes as wealth generators is over, experts say,” http://www.statesman.com/business/content/business/stories/realestate/2009/10/04/1004homevalues.html Robert Reich is quoted as saying, “We can expect a gradual rise (in home values), but not the bonanza we’ve become accustomed to between the end of World War II and … Continue reading
Just posted another article on the Local Market Information page at http://www.eHomesByMorris.com about the status of office leasing in the Austin area. The difference in perspective between the Austin American-Statesman and the Austin Business Journal, based on the same report from Oxford Commercial is really surprising. What message do you WANT in your news?
No time to blog this week … working several new contracts and new clients. I know the data says Austin-area sales are way off this year, but I can’t tell it from my practice. There must be a BUNCH of agents trying to figure out where to find a prospect, because the agents I talk … Continue reading
… we have a tendency to read and react to every bit of short-term news without looking at it from a broader perspective. Continue reading
The Central Texas economy paid its dues in the late 1980s and again in 2001-2002 with the end of the “dot-com” bubble, giving up significant percentages of home values and, particularly six or seven years ago, substantial high-tech employment. After that last downturn, we entered a new phase of strong but reasonable growth — very … Continue reading
The Austin Business Journal reported yesterday that, “Austin and San Antonio will be the first two U.S. cities to recover from the recession, according to a new national forecast from IHS Global Insight.” (More: http://austin.bizjournals.com/austin/stories/2009/09/14/daily18.html?ed=2009-09-15&ana=e_du_pub) I constantly monitor and measure market activity in the Austin area, and home price trends over the past 4 1/2 … Continue reading
This article was posted on RISMedia late last week: Positive Signs: Home Prices Rise 1.7% in Second Quarter http://rismedia.com/2009-09-10/positive-signs-home-prices-rise-1-7-in-second-quarter/#ixzz0R0ZmpLH1 It notes that “Over the year ending with the second quarter of 2009, U.S. home sales prices fell 6.7% in the CMHPI Purchase-Only Series – less than the 8.5% annual decline recorded between the first quarter … Continue reading
