There’s no way to put lipstick on this and improve the national picture. The housing industry is troubled and is likely to remain so for some time to come. But I encourage folks who already own homes in Austin, or plan to, to keep the faith. Our fair city’s performance remains much stronger than national news stories will lead you to believe. Continue reading
7 out of every 8 homeowners in this market sample never listed their homes for sale before they were taken in foreclosure! Don’t be one of those 7-of-8 folks! Continue reading
“Central Texas is not in the same boat as many other parts of the country. While home sales remain at a slow pace, prices have not dropped, and many economists say an upturn is in the making for 2012 as the region continues to add jobs.” The prevalence of distressed home sales (short sales and foreclosures) in other markets has had much to do with their declining home values and continuing market malaise. Continue reading
Foreclosure activity in Austin is definitely higher than it was pre-recession, and there is no doubt that the effects of the recession and housing downturn have flattened home values here over the past few years — prices are lower today than they would have been if the recession had not happened. All in all, though, Austin and Central Texas continue to contrast dramatically with the cities and states that so thoroughly dominate news about the housing sector.
Today’s local report about properties scheduled for February foreclosure auctions made much about the “high” level of foreclosures in the Austin metro area, but relative to metro population or compared to cities where the housing downturn hit much harder, Austin doesn’t look so bad. Continue reading
What would you do if one day your life is interrupted by a notification that the bank you bought your home from may not have had the right to sell it to you because they never actually owned it themselves? The odds may be low, but it’s worth thinking about.
Fewer homeowners nationwide were upside down in 3Q ’10 compared to 2Q ’10. That’s good. What it means is less certain. Continue reading
Foreclosure sales are WAY down in Austin, in more ways than one. Continue reading
I just posted an article on my website with recommendations for home buyers during this recessionary market period. Most are good, but there are important differences between the Austin/Central Texas real estate market and the hard-hit markets that rightly get so much attention in the national press. Continue reading
If it’s your time to buy or sell, don’t wait for some imaginary sea-change in the Central Texas real estate market. The outlook for home values and mortgage interest rates us UP, and we are not facing a flood of low-priced properties in the coming months. Make your move because it’s right for you, not because of external factors you read or hear about. Continue reading