Comments on: Tax Credit Effect on Austin Real Estate Market

By: Steve Crossland, Austin REALTOR

Steve Crossland, Austin REALTOR — Fri, 25 Jun 2010 14:06:13 +0000

I’ve updated the Pending stats for May. New blog story at:
http://crosslandteam.com/blog/2010/06/25/austin-pending-sales-update-through-may-2010/
Steve

By: Doug Francis

Doug Francis — Thu, 03 Jun 2010 19:23:20 +0000

It will be interesting to see how this graph turns in May, June and July as I suspect a lot of the home sales were pulled forward to meet that April 30th deadline. Almost like the concentrated shopping season we see leading up to December 25th every year.

By: Steve Crossland, Austin REALTOR

Steve Crossland, Austin REALTOR — Mon, 24 May 2010 20:50:12 +0000

Hi Lisa,

Links are always welcome! Give credit on your site if you use the graphic in your post.

Thanks

Steve

By: Lisa

Lisa — Mon, 24 May 2010 20:42:48 +0000

Wonderful post! The graph really makes the numbers easy to understand. It’s one thing to hear about the tax credit and it’s effect on the market, but it’s quite another to SEE the data in front of you, especially when the changes are this dramatic.

Do you mind if I link to this post? I may blog about the tax credit this week and I think the visual you gave here will help.

By: Vince Burns

Vince Burns — Fri, 21 May 2010 19:34:05 +0000

I wish the government would stop trying to “cook the books” and the the market adjust.

By: Tony @ Siterra Real Estate Software

Tony @ Siterra Real Estate Software — Fri, 21 May 2010 17:13:36 +0000

I agree with Brett that it’s preferential to buy at a low price and a high interest rate. I think it’s rash to assume that interest rates are going to be drastically higher or lower than they are now in a 10-year timespan. To state that one will be unable to refinance for under 6% in 10 years is speculation at best, alarmism at worst.

By: Brett

Brett — Thu, 20 May 2010 21:09:37 +0000

@MB : You can always change your interest rates, but never the principal…
I’d rather buy at a low price and high interest rate; then, refinance a few years down the road when the rates drop.
Low interest rates = cheap money = home price inflation…

By: MB Reatly Dude

MB Reatly Dude — Wed, 19 May 2010 22:38:53 +0000

Yes, I agree. People don’t realize how much the low interest rates effect their overall costs. Hopefully prospective first-time homebuyers will think “long-term” and jump on the opportunity that currently awaits them to pay much less for their home due to low interest rates.

By: Greg

Greg — Tue, 18 May 2010 04:51:34 +0000

Thanks. Greed glands fired up wondering that was a NOO.
I’ve worked with Cheryl in the past – she’s great.

By: Steve Crossland, Austin REALTOR

Steve Crossland, Austin REALTOR — Tue, 18 May 2010 04:47:44 +0000

Hi Greg,

Owner-occupied, no points or buydown.

Check with our mortgage gal for more details about current rates. Cheryl is great. She ALWAYS closes our buyers on time with no hassle and provides great service.
http://www.cnmcs.com/cheryldarter/

Steve

By: Greg

Greg — Tue, 18 May 2010 04:34:06 +0000

> I just locked 4.75% interest on a property Sylvia and I are purchasing
Owner occupied or non-owner occupied?
Par or did you pay some points to buy down the rate?