Archive Monthly Archives: July 2008

Home Warranty Does Not Cover Known Pre-existing Conditions

I was negotiating repair items on a deal last week. I represent the buyer. The property inspection revealed, among other things, that both A/C systems in the home were showing splits that were out of compliance with normal readings. A “split” is the difference in temperature between the air that is drawn into the system […]

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Posted by Steve
11 years ago

Housing and Economic Recovery Act of 2008

Well, the big Housing Act of 2008 has been signed. Based on what I’ve read and studied, this political move will do little in the long run. It may simply postpone true recovery in the national housing market by impeding the movement of the real estate to where it eventually wants to go. It might […]

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Posted by Steve
11 years ago

Dear Out of State Investors – We Told You So

Today’s Austin Statesman has an interesting, if not predictable article about California investors being disproportionately represented in Austin area foreclosures. We’ve participated in several sales by California investors (not ones that we sold to though) bailing out, some of which were short sales or pre-foreclosures. As the Austin real estate market rebounded at the end […]

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Posted by Steve
11 years ago

Austin Real Estate Sales Breakdown by MLS Area – June 2008 YTD

Below is the breakdown of year-to-date home sales in Austin by MLS area. This is for houses only, no condos, townhomes, etc. I’m often asked, “how is the Austin real estate market?”, to which I reply, it depends on which market you are talking about. There are multiple “markets” and sub-markets in Austin. Here are […]

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Posted by Steve
11 years ago

Austin Sales Market – June 2008 and Mid-Year Stats Update

Below is the June 2008 Austin real estate market update, including YTD stats. For starters, I thought I’d post a graph showing Average Sales prices in Austin from 1999 through June 2008 for houses, condos and multi-family properties. Austin’s real estate market has historically moved in fits and starts. The slowdown indicated by the June […]

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Posted by Steve
11 years ago

Dotzour’s Take on Freddie and Fannie Collapse

(TX A&M Real Estate Center) – Freddie Mac and Fannie Mae stocks plunged this week, increasing fears over their ability to raise the capital they need to purchase home loans and hold down mortgage rates. Freddie Mac shares fell 22 percent to $8 yesterday, while Fannie Mae stock lost 13.8 percent to close at $13.20. […]

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Posted by Steve
11 years ago