2007 4Q Commercial Real Estate Industry Numbers Not Looking Good
February 9, 2008While final numbers on the value changes in the national commercial real estate market during the fourth quarter are not yet in, MIT has released an important study on the subject. The Transaction-Based Index follows the values of the nation’s major pension funds’ Commercial Real Estate holdings. In the third quarter of 2007, MIT reportedRead More
Tighter Credit Market Reported for National Commercial Real Estate Industry
February 8, 2008The Federal Reserve recently completed its “2008 Senior Loan Officer Opinion Survey on Bank Lending Practices.” It is a much-awaited quarterly survey of the opinion of banking executives that specialize in lending for the real estate market. While the results were expected to suggest a tightening of loan requirements throughout the industry, the results forRead More
2008 Home Sales Have Started Off Beat
January 31, 2008In 2007 there were a total of 13,162 homes sold in Austin Texas at a 9% average increase in value from the previous year. While the number of homes sold was down 12% in 2007 compared to 2006 in Austin Texas, homes sold for an average of $14 per square foot more in 2007 thanRead More
The US Economy in 2008 and What it Means for the Real Estate Market
January 30, 2008Signs of economic turmoil have become too obvious to ignore. 2007 saw the greatest one-year drop in the value of the national real estate market since the great depression, according to the Commerce Department’s new numbers. There is certainly no consensus among economists as to whether we are in a recession – the International MonetaryRead More
The Future of the Subprime Crisis and its Effect on the Real Estate Market
January 29, 2008Testifying before Congress about a year ago, the President of the Center for Responsible Lending predicted that 2.4 million homes will eventually face foreclosure from the subprime crisis. At the time, this estimate was considered by some economists to be an excessively large figure created by a consumer rights organization with an agenda. Today, Congress’Read More
Austin Real Estate Market
January 4, 2008The headline of the business page today shows Austin new home starts at their lowest since 2004 with the market down 20% in the 4th quarter. For some this might bring fear and dismay at how one of the fastest growing cities in the country could be showing continued weakness in the real estate market. Read More
Austin Real Estate Statistics and Summary 2007 in Review
January 2, 2008What is all the fuss? Austin real estate was still strong in 2007. While the number of homes sales was down 12% in 2007 compared to 2006 in Austin Texas, homes sold for an average of $14 per square foot more in 2007 than in 2006. Using the average home sales price times the number ofRead More
Neighborhood Statistics – Residential Real Estate in Austin Texas – January – November, 2007
December 19, 2007As you can see in my chart below, the neighborhoods that have been hit the hardest by the market slow down in terms of reduced home sales on a % basis have been Rollingwood, Travis Country, Barton Creek, Lakeway, West Lake Hills, and Westlake. Communities that actually improved in 2007 compared to 2006 are Davenport West,Read More
Neighborhood Statistics – Residential Real Estate in Austin Texas – January through November 2007
December 19, 2007Neighborhood Statistics Residential Real Estate in Austin Texas January – November, 2007 1. Barton Creek: There were 50 more homes sold in Barton Creek between January and November in 2006 than in 2007, although they sold for more per square foot on average in 2007. It took about the same amount of time for homesRead More
Austin Texas Residential Real Estate Market Report January – November 2007- Chart
December 18, 2007Homes Sold Sales Price (Per Square Foot) Days on Market January 770 $138 59 February 913 $142 58 March 1248 $150 54 April 1241 $149 44 May 1466 $148 40 June 1581 $150 39 July 1439 $156 38 August 1380 $154 42 September 897 $151 47 October 820 $145 53 November 761 $148 54Read More