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An feature article in the Business section of today’s Austin American-Statesman highlighted a decline in home sales in the Austin area and growth in listing inventory. As noted by the Austin Board of Realtors the very small sales decline is really reason for optimism for the Austin/Central Texas real estate market. Consider listing inventory relative to current demand. Continue reading
Price it right! Properly priced homes seller faster and for higher prices than those that age — even for a few weeks — at above-market prices. Continue reading
This was a cash purchase of 440 acres in just one subdivision, a huge commitment to building in Crystal Falls. It also represents a very important vote of confidence in future demand for new homes in our area.
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A bill authorizing much higher mortgage insurance rates for FHA loans has passed the House overwhelmingly. An increase in the monthly mortgage insurance premium will reduce the loan amount, and therefore the purchase price, a prospective buyer can qualify for.
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In a previous post, I discussed variations in market behavior in the Austin metropolitan area, slicing the market only by home size. In this post I will discuss the importance of “location, location, location” as a vital factor in real estate.
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My clients, and those who follow my blog, know that I often describe the real estate business as “hyper-local.” I didn’t invent that term, but it applies spectacularly in this industry. This is the first in a series of blog posts that will discuss this differentiating fact about real estate from different perspectives.
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As I frequently do, I think it is important to provide an Austin/Central Texas perspective since our local and regional market has experienced the housing downturn and recession very differently than the five states where the worst impacts have been felt.
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For those of us who work with home buyers and mortgage lenders routinely, it has been clear for a long time that mortgage underwriters were getting more cautious — and rightfully so. This is Fannie Mae’s latest move to reduce mortgage loan defaults. Continue reading
It’s a treat to keep seeing Austin on “good news” lists and rankings …. Continue reading
As I study market conditions in Austin and Central Texas real estate, I continue to see significant contrasts between our area and conditions elsewhere …. Continue reading
Bill Morris on Austin Real Estate 