Comments on: Real Estate Market at Bottom in Most Texas Cities http://crosslandteam.com/blog/2009/08/14/real-estate-market-at-bottom-in-most-texas-cities/ Austin Real Estate Blog Tue, 07 Sep 2010 05:12:19 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Lisa Udy http://crosslandteam.com/blog/2009/08/14/real-estate-market-at-bottom-in-most-texas-cities/comment-page-1/#comment-93418 Lisa Udy Tue, 18 Aug 2009 17:14:22 +0000 http://crosslandteam.com/?p=1205#comment-93418 Hi Steve, We are seeing the same thing here in our local market. I live in Northern Utah, and anything under $200,000 is moving pretty well. On the other hand, the market above that is a nightmare. The market is bloated, and the absorption rate is about 2 years out. Which isn't anything a seller wants to see these days. Great post, and it's sad to see other markets in the same boat as we are. -Lisa Udy Hi Steve,

We are seeing the same thing here in our local market. I live in Northern Utah, and anything under $200,000 is moving pretty well. On the other hand, the market above that is a nightmare. The market is bloated, and the absorption rate is about 2 years out. Which isn’t anything a seller wants to see these days.

Great post, and it’s sad to see other markets in the same boat as we are.

-Lisa Udy

]]> By: Phill http://crosslandteam.com/blog/2009/08/14/real-estate-market-at-bottom-in-most-texas-cities/comment-page-1/#comment-93109 Phill Sat, 15 Aug 2009 21:58:24 +0000 http://crosslandteam.com/?p=1205#comment-93109 I agree with all said here and have made nearly identical forecasts. One thing I would add is that many people still CAN'T get loans even with good credit. Namely the self employed and just about anyone looking for something other than a sub-$200K FHA. What's next? Hard to say, but if and as the economy heats up, with all of the positive migration that Austin is seeing, and with new construction still slow due to lack of capital (nationally), we could be looking at a housing shortage here in the next couple of years... and if (when) inflation hits, all I can say is that I hope you own some hard assets (like real estate) with fixed-rate loans... Phill I agree with all said here and have made nearly identical forecasts. One thing I would add is that many people still CAN’T get loans even with good credit. Namely the self employed and just about anyone looking for something other than a sub-$200K FHA.

What’s next? Hard to say, but if and as the economy heats up, with all of the positive migration that Austin is seeing, and with new construction still slow due to lack of capital (nationally), we could be looking at a housing shortage here in the next couple of years… and if (when) inflation hits, all I can say is that I hope you own some hard assets (like real estate) with fixed-rate loans…

Phill

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