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COMPARING CITIES: THE HOUSING SLUMP – AUSTIN TEXAS REAL ESTATE

May 5, 2008

Across the nation, the residential real estate sector is in a funk.  Values are down.  Homes aren’t selling as quickly.  And don’t forget the sub-prime mortgage mess.  It’s hard to turn on the news or read the paper without hearing something bad. But what about real estate in Austin Texas? Let’s not shade the truth. Read More

Austin Texas Real Estate Report April 2008

May 1, 2008

Real Estate Austin Texas: Real Estate in austin texas has been softer than 2007 but there are still a lot of homes selling. Austin texas luxury real estate has also slowed down a bit compared to last year.  Commercial real estate austin texas has also slowed down in 2008 but not as much as residential. Read More

New Jobs, Low Unemployment and Home Price Increases a Good Sign for Austin Texas Real Estate Market?

March 30, 2008

According to the Texas Workforce Commission, the Austin Texas unemployment rate decreased from 3.9% in January to 3.6% in February.  This represents a decrease of 2,700 unemployed people in Austin.   Additionally, there were 16,900 more people employed in Austin in February 2008 compared to 2007.  Although the number of homes sold in Austin has decreased significantly inRead More

A bright spot on the horizon for Austin residential real estate?

March 24, 2008

Since January 1st of this year (2008) 1,813 homes have sold and 884 homes have been withdrawn from the market in Austin Texas, a 28% decline and 42% increase respectively from the same period last year.  This reflects a weaker Austin Texas residential real estate market in 2008 compared to 2007.  With that said, theRead More

The Mueller Development in Austin Texas

March 6, 2008

When the Robert Mueller Municipal airport closed down in 1999, plans began to be laid for one of the most ambitious building projects Austin has ever seen. All told there was 711 acres of prime real estate up for grabs, and the city knew that what happened to the land would be hugely important forRead More

More Buyers Simply Choosing to Default on their Home Mortgage

March 5, 2008

As mortgage rates from subprime loans are beginning to reset and interest rates in general are beginning to increase due to the credit crunch, home owners are beginning to default in greater and greater numbers.  Many are simply abandoning attempts to pay back the money, and are simply letting their credit rating absorb the damage,Read More

2008 Austin Texas Real Estate Home Sales Still Slow

March 3, 2008

Since January 1st of this year 1,214 homes have sold and 342 homes have been withdrawn from the market in Austin, a 32% decline and 47% increase respectively from the same period last year.  With that said, the median price for homes sold during the same period in 2007 was $120 per square foot withRead More

What will Washington do about the Subprime Crisis in 2008?

March 1, 2008

The subprime crisis still rocking and rolling these days.  In terms of the crisis’ primary component, it is expected to actually grow in scope during 2008:  The number of subprime-related foreclosures expected to occur this year will actually outpace the numbers from 2007. The bottom line for the economy, in many ways, is that whileRead More

2008 Home Sales in Austin Texas Could Be Much Worse

February 28, 2008

The number of homes sold in Austin Texas in 2008 compared to the same time period in 2007 from January 1 thru February 28 is down 35% and homes taken off the sale block is up 52% in 2008 when comparing the same time periods.  In 2007 there were 1,690 homes sold from February 1 thru February 28 with 336Read More

What the Fed Will Do with Interest Rates?

February 28, 2008

“Whirlwind of activity” is a favorite cliché of journalists.  During most economic upheavals the press likes to use the phrase to describe what’s been going on at the Fed.  It’s descriptive, and it gives a certain sense of excitement that “bureaucrats held a lot of tense meetings” just doesn’t seem to communicate.  But if aRead More