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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Since January 1st of this year 1,214 homes have sold and 342 homes have been withdrawn from the market in Austin, a 32% decline and 47% increase respectively from the same period last year.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

Federal Reserve’s Residential Real Estate Report about Credit Market

February 24, 2008

With US housing foreclosures making headlines the world over, it should come as no surprise that banks have tightened their lending guidelines for the residential real estate market.  That being said, the Federal Reserve’s recently-published survey of bankers that specialize in residential real estate reveals some interesting information about the credit market that feeds theRead More

US Government Passes Stimulus Package including Tax Rebates

February 22, 2008

During 2007, it was the real estate market that seemed to be determining the fate of the economy.  A number of events gripped the economy during the year.  There were the write-downs that much of the financial industry was forced to endure due to subprime loans that ended up being securitized into a liquid formRead More

Mortgage Application Numbers Take a Dive

February 22, 2008

Weekly numbers are hardly ever reliable.  Whether its for sports, economics, or politics, it’s always hard to spot a trend using statistics from just one week.  There’s usually too much “noise,” or random movement of data to spot a genuine trend.  That’s why markets rarely react to weekly unemployment or housing numbers with the sameRead More

February Home Sales Update for Austin Texas Real Estate

February 17, 2008

The number of homes sold in Austin Texas in 2008 compared to the same time period in 2007 from January 1 thru February 16 is down 29% for the time period beginning January 1 and ending February 16.  In 2007 there were 775 homes sold in January and 446 homes sold from February 1 thruRead More