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According to the Austin Board of Realtors® , pending homes sales in the Austin metro area down27% in September 2010 compared to September 2009. Year-to-date sales, however, were down only 1%.
In this recession, maybe more than all others, it is important to recognize that “it ain’t over ’til it’s over.” That said, we still have the climate, the culture, the tax structure, the entrepreneurial dynamism, and the activity of a growth-oriented Chamber of Commerce that has made the Austin area so attractive and successful. Continue reading
What is largely missing from the discussion is that the properties and property owners involved are on lenders’ foreclosure lists for a reason — mortgage default. Every real estate closing that involves mortgage financing includes paperwork that basically says “no pay, no stay.” Continue reading
Last week I heard a prominent Senate leader suggest that there should be an across-the-board moratorium on all foreclosures. My response: STOP before you help us any more!!!!! Continue reading
The Wall Street Journal recently had an article about a “housing stress indicator” that compares many U.S. cities and their pain and continuing vulnerability in the ongoing real estate downturn. Continue reading
Foreclosures are up, but let’s keep a little perspective — 99.7% of American property owners did NOT receive a foreclosure notice last month. Continue reading
“Leave housing to market forces, let prices fall until buyers are motivated to come in, and hope that the economy can stand one final cathartic wave to clear the excesses of the bubble.” Continue reading
Prospective home buyers have an incredible opportunity right now — increased listing inventory, record-low mortgage rates, and stable or slightly increasing demand that should push prices up over the next six to twelve months. Those who choose to sit out this part of the market cycle are likely to look back in two years and say, “I should have moved then.” Continue reading
Road and utilities preparation could begin this year, and the entire development could ultimately include 5,000 homes and townhomes, 2,600 apartments, 2 million square feet of office and retail space, and 700 acres of parks and open space. Continue reading
The $500,000-and-up went from 7% of the Austin/Central Texas single
family market a year ago to 12% in the last month! Continue reading
Bill Morris on Austin Real Estate 