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October 2008

There are 5 blog entries for October 2008.

Austin Unemployment and Austin Real Estate Market Update September 2008

Saturday, October 18th, 2008 at 3:43pm. 2,198 Views

The Austin-Round Rock unemployment rate continues to inch up for the 5th month in a row from 3.3% in April 2008 to 4.7% in September 2008, which represents a 30% increase or an increase of 12,000 unemployed.  While the Austin unemployment rate has continued to increase, single-family Austin home prices have seen two consecutive monthly decreases when comparing August and September of 2008 to the same months during 2007.  However, the unemployment rate is significantly lower than the years following the technology bust when the unemployment rate stayed at around 6% between January 2002 and December 2003.  The unemployment rate actually reached its height of 6.7% in June of 2003 before a consistent and steady decline over the following year.  Additionally,

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The Ranch at Bushy Creek Market Update October 2008

Friday, October 17th, 2008 at 3:59pm. 3,326 Views

The Ranch at Brushy Creek is located just north of Avery Ranch, which is east of Parmer Lane, north of 620, and south of 1431 in Cedar Park Texas, just north of Austin and other Austin real estate.  This new neighborhood was opened up in 2005 with builders such as Newmark, Drees, David Weekly, Morrison, Lennar, Village Builders, and Meritage participating.  The neighborhood sits in both the Round Rock Independent School District and the Leander Independent School District, so buyers looking in this neighborhood will need to verify the school district on a home-by-home basis.  The area is gorgeous with rolling hills and lots of trees, a perfect setting for new Cedar Park homes.  There is quite a bit of new retail in the immediate vicinity so a homeowner

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$7500 Tax Credit for first time home buyers

Friday, October 10th, 2008 at 7:29am. 10,442 Views

For those first time home buyers who are looking for access to additional cash to help purchase your first home, there is a new "tax rebate" program created out of the 2008 American Housing Rescue and Foreclosure Act that may help - but pay close attention to the details.  While the program offers tax rebates (dollar for dollar reduction of what tax payer owes in federal taxes) of up to $7500 for those first time home buyers who qualify to go toward the purchase of their first home, the truth is that it is actually an interest free loan that provides access to cash through a tax rebate that must be repaid interest free over 15 years starting two years after the tax credit is claimed.  To qualify for this interest free loan the first time home buyer must

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Ridge at Lantana Market Update 3rd Quarter 2008

Monday, October 6th, 2008 at 5:56pm. 3,089 Views

Great news for the Ridge at Lantana in Southwest Austin!  Austin real estate home sales picked up significantly in Lantana in the third quarter (Q3) of 2008 with 8 homes sold - 5 homes sold in September alone.  However, the median price for these Austin homes in our neighborhood is down 6.5% when comparing 3Q 2008 to 3Q 2007 but it is only down 3.1% for the year (Q1-Q3 2008 compared to Q1-Q3 2007).  So far this year (Q1-Q3 2008) 13 homes sold compared to 12 homes in the first three quarters of 2007. 

So while the overall city of Austin has a 22% decrease in the number of homes sold and an increase of 1.5% in median prices for the year (Q1-Q3 2008), Lantana has experienced the converse with an 8% increase in the number of homes sold and a 3.1% decrease

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Austin Texas Real Estate Statistics September 2008

Wednesday, October 1st, 2008 at 8:53pm. 2,703 Views

Austin real estate continues to feel the effects of the economy but so far has been able to buck the national trend with an overall price increase for the year.  Homeowners are increasingly pulling their homes off the market rather than taking a “below market” price for their home. 

Single-family home sold prices are up 1.5% for the year, the number of homes sold is down 22%, the median price of homes pending sale is 1% below the median sold price, and there were 34% more homes withdrawn from the market in 2008 compared to 2007.

The month of September 2008 compared to 2007 showed signs of continued softening in the Austin real estate market, however so slight.  There was an overall price decrease of 2.2% in September 2008 when comparing the same

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