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Pending home sales were down in September, but the Austin metropolitan area shows signs of strength. 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
Again, thank goodness that mortgage lenders have decided they prefer working with borrowers who are likely to make their payments. This pendulum is swinging WAY too far in the other direction, though. Continue reading
A few years ago there were so many “creative” ways to get zero or low down payment conventional loans, and private mortage insurance was so inexpensive, that FHA loans were used less frequently. That is no longer the case. Continue reading
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
With these arguments against this hiring, I assume Chase sees offsetting strength in Texas and expects to originate many more loans here than they have in recent years. 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
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
Warren Buffet has made a lot of money by being right in his forecasts more often than he has been wrong. Bloomberg News reported yesterday on his recent report to Berkshire Hathaway shareholders. Continue reading
In my opinion, continued artificial support will only make the correction worse when it does happen, so we should allow the market to seek its own course, with minimal external manipulation. Continue reading
Bill Morris on Austin Real Estate 