This tag is associated with 108 posts

Negative equity declines

Fewer homeowners nationwide were upside down in 3Q ’10 compared to 2Q ’10. That’s good. What it means is less certain. Continue reading

Comparison: Foreclosure sales in Austin vs. U.S.

Foreclosure sales are WAY down in Austin, in more ways than one. Continue reading

Case-Shiller caution — national index, local business

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

Foreclosure myths …

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

Homes Sales Off in Austin Area

According to the Austin Board of Realtors® , pending homes sales in the Austin metro area down27% in September 2010 compared to September 2009. Year-to-date sales, however, were down only 1%.

Continue reading

Economic Growth in Austin/Central Texas Continues

In this recession, maybe more than all others, it is important to recognize that “it ain’t over ’til it’s over.” That said, we still have the climate, the culture, the tax structure, the entrepreneurial dynamism, and the activity of a growth-oriented Chamber of Commerce that has made the Austin area so attractive and successful. Continue reading

More thoughts on the foreclosure freeze …

What is largely missing from the discussion is that the properties and property owners involved are on lenders’ foreclosure lists for a reason — mortgage default. Every real estate closing that involves mortgage financing includes paperwork that basically says “no pay, no stay.” Continue reading

Market Activity in the Austin Area

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

Builder confidence down in Austin?

It may be that a comprehensive survey of home builders in the Austin area will show that they lost confidence in August, just as reported nationally. The builders I talk to, however, while cautious, aren’t waiting for the sky to fall, and this recent market performance is relatively positive given conditions in other places. Continue reading

Austin and the housing downturn — the affordability factor

Texas has not felt this recession and housing downturn in the same way that California, Arizona, Nevada, and Florida have. This article from Tierra Grande magazine focuses on the housing affordability factor and offers some important insights. Continue reading