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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
Fewer homeowners nationwide were upside down in 3Q ’10 compared to 2Q ’10. That’s good. What it means is less certain. Continue reading
Month-to-month reports of home sales in the Austin area have not been encouraging since the last tax credit program ended in June, but if you look at annualized sales and pricing things aren’t as bleak as they may seem. Continue reading
Foreclosure sales are WAY down in Austin, in more ways than one. Continue reading
As I have discussed extensively, the Texas housing market has behaved very differently throughout this recession and housing crisis than California, Florida, Arizona, and Nevada. Only one of the metro areas in the Case-Shiller 20-city composite is in Texas, while 10 of the index cities were very hard-hit by the housing crisis. 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
“Even with several years of price declines, the typical seller who purchased a home eight years ago experienced a median equity gain of $33,000, a 24% increase, while sellers who were in their homes for 11-15 years saw a median gain of 40%.”
Continue reading
Pending home sales were down in September, but the Austin metropolitan area shows signs of strength. 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
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
Bill Morris on Austin Real Estate 