2006

The Problem with East Austin Real Estate

November 28, 2006

I’m not sure what to think about East Austin. I still don’t recommend it to investors, though I know many investors have done well and are doing well there (selling mostly to other investors and brave young buyers), and I have friends who’ve invested there. One friend of mine purchased a 2 bedroom home a [...]

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Austin Real Estate Sales Market Update – Oct 2006

November 24, 2006

The average price of a single family home sold through the Austin MLS is up 10% from October of last year, and we’re up 9% year to date. I created a graph below to illustrate what real estate appreciation in Austin has looked like over the past 7 years. As you can see, we enjoyed [...]

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Texas Home Prices Show Increase

November 21, 2006

(Dallas Morning News) – All of the Texas cities tracked in a recent survey by the National Association of Realtors had increases in home prices in third quarter 2006. Statewide prices were up 8.6 percent, one of the largest such increases in the country. The biggest jump was in El Paso, which was up 14.3 [...]

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Austin Million Dollar Homes

November 15, 2006

Below is a link to a news segment from News 42 Austin profiling the Austin real estate market for homes that cost 1 million dollars or more. The news story plays up the $1M+ market, indicating a swell of demand for homes in that range. It’s an interesting story not only about the Austin real [...]

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Austin Rental Market Update – October 2006

November 11, 2006

Austin’s rental market for single family homes looks like it might finish the year with a slight upturn from last year. This would break a four year downward slide in Austin rental rates that started in 2002 after the tech bust and 9/11. We still have November and December to factor in, but we’re a [...]

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Forecast: Austin Real estate boom to continue in 2007

October 26, 2006

From today’s Austin Business Journal email newsletter. The report doesn’t contain info about residential sales and is focued on the commercial side. But as commercial goes so does residential. The new jobs filling the commercial space are the same people moving into Austin and buying homes. Source: Austin Business Journal With rents and occupancy rising [...]

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Questions Families Should Ask Before Buying

October 26, 2006

Here is a snippet I got from Realtor Magazine. It’s a pretty good list, but I would add to it “How are the schools in the neighborhood”? Good schools are a very important factor for most families with kids. Family real estate specialist Elena Thurston, an associate with Keller Williams Realty in Phoenix, tells buyers [...]

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California Home Prices Decline in 8 Counties

October 25, 2006

Why do we care about California Home prices in Texas? A large number of Austin area buyers, especially investors, are from California. Many of these buyers have either cashed out of homes in California and moved to Austin, or they have used equity in California real estate to finance investments in Austin. This is not [...]

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Despite Warnings, Consumers Opt for Riskier Loans

October 24, 2006

Source: The Washington Post, (10/24/06) Borrowers continue to choose risky nontraditional mortgages, even after state and federal regulators have issued widespread warnings about the unstable and rapidly rising payments associated with this kind of financing. About 26 percent of mortgage loan originations by dollar volume in the first six months of 2006 were interest-only loans, [...]

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Austin Real Estate Market Update – September 2006 Sales

October 19, 2006

Below are the sales stats for September in Austin, houses only (no condos or townhomes). The average sales price across all MLS areas in Austin is up 5.89% over September of 2005. The most important factors in Austin’s real estate market at this time are shrinking inventory and continued strong demand. Overall, Austin has less [...]

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