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Last week the U.S. Commerce Dept. announced that new home sales were up 27% in March 2010 compared to February. The surge was described as the strongest (in units) since July 2009, and the largest percentage month-to-month increase in 47 years. How did Austin compare? Continue reading
The truth is that we’ve only had mortgage interest rates in the 5% and under range for about fifteen months! And already we consider that “normal,” and act as if anything higher will keep people from buying and hurt the housing market? Continue reading
Austin most expensive rent in TX. As is generally true, press reports are best served with context.
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In all recessions there are winners and losers. These are the times that allow true entrepreneurs to gain market share and security, positioning themselves for the next growth phase. Continue reading
Approximately 6 million homeowners nationwide have missed at least two mortgage payments, and as many as 10 to 12 million foreclosures are possible in the next three years. This new program aims to help. Continue reading
News reports about the national economy and the national real estate market should be the starting point for analysis, not the end. Of course, we are susceptible to some national trends, but we also have our own local and regional strengths. Just like some companies fail while others thrive in difficult times, local and regional economies have comparative advantages and disadvantages, and optimism for the Austin/Central Texas area has been widely reported. Continue reading
“Austin is emerging as one of the first pockets of the country where people are getting back to work ….” Continue reading
Don’t wait until it’s too late to admit you can’t keep up with your mortgage payments. Call me! Continue reading
Much of what I have written about the “state of the market” in and around Austin has focused on resale homes. New construction is obviously an important part of the market, and it’s a great barometer for confidence in the local economy, job growth, investment opportunities, etc. Continue reading
There is a difference between comparing employment from month to month, and comparing to the same month in a previous year. The Austin metro area gained jobs on a month-to-month basis for 8 of the 12 months from February 2009 through January 2010. Continue reading
