Comments on: Austin Real Estate Market Update – December 2009

By: Property Management Software

Property Management Software — Sun, 01 Aug 2010 12:43:57 +0000

I want to know how many people bid or wanted to buy the houses and in fact how many bought? If these figures are to be believed (I don’t say these are wrong, but these are actually not complete), then I would like to know other figures as well..like what was the number of houses listed in each category? What was the number of bids? What was the lowest bid at? If these figures are evaluated against 2008, then only the data has some value to me…:)

By: Michael @ The Stage Coach

Michael @ The Stage Coach — Mon, 25 Jan 2010 20:45:31 +0000

“Anyone under 30 years of age is an “interest rate crybaby” because they’ve grown up rarely seeing interest rates above 6% and think they deserve 5%…”
That’s rich – we bought our first home, a loft in Chicago, back in 1997. We had an +8% interest rate, plus PMI as our down payment was only 5%. This first Mortgage Payment was more than it is on our house right now, including RR taxes. But I remember the first house my parents bought – remember might not be the right word – it was 1974 and I was barely 3. Dad loved to tell the story of how the bank tried to prevent him from assuming the mortgage from the seller. The previous owner had some thing like 12% and the banks expected him to get a new mortgage around 18%. In the end, he managed it. And yet, people whine about +5%…

By: Tim

Tim — Mon, 25 Jan 2010 16:01:16 +0000

I actually thought there was an error when I refinanced at a sub 5% rate. They showed me the “total amount paid over lifetime of loan” and I was shocked that it was actually somewhat close to the purchase price. My first house I was paying for the house something like 4 times over and that was a good rate. I still feel like I’m ripping off the bank.

It is nice to read your analysis when the Austin Business Journal keeps reporting that the average is down and thus the market is horrible.