Market Data
Austin Real Estate Stats Feb 2009
With all that is happening in our economy lately here is a recap of how it is affecting the Real Estate Market.
So what happened in the Austin real estate market in February? For a recap, the Austin market first slowed down in around August 2007 due to the national subprime issues. The market held steady [...]
Wall Street Resumes Rally Following Housing Report
Stocks regain momentum after better-than-expected housing report; Dow jumps 179 points
Tuesday March 17, 6:44 pm ET
By Stephen Bernard and Tim Paradis, AP Business Writers
NEW YORK (AP) — You know things have changed on Wall Street when the housing industry saves the day.
A surprise government report that home construction picked up in February caught traders off [...]
Legislative Update on SB354
Legislative Update on SB354 (the 82% of Fair Market Value Offer Requirement) and the Lease Option Bill SB629
Good News…read on
On Tuesday and Wednesday of this week investors from across Texas joined representatives from National REIA and lobbyist hired by TexREIA and the Houston RICH club to address proposed Senate Bill 354.
As you may recall, from [...]
Foreclosures spike, but experts say lenders are willing to negotiate…
Properties are mostly houses, but Chinatown Center among postings.
By Shonda Novak
AMERICAN-STATESMAN STAFF
Saturday, February 14, 2009
Foreclosure postings in Central Texas spiked in March, but experts say they don’t think those levels will continue throughout 2009.
Foreclosure Listing Service Inc. said the 551 postings filed in Travis County for the March 3 auction were up [...]
US recession forecast to drag on…
The US recession is likely to drag on well into 2009 with a “moderate recovery” in 2010, according to forecasts from the US Federal Reserve.
The minutes from the central bank’s December interest rate meeting show that policymakers were faced with a grim economic forecast.
They were told the economy was expected to shrink more rapidly [...]
What To Do Now, 2009
I have been burdened over the Holidays. Many concerned Investors have called seeking real estate advise for 2009. I find myself stuttering and sputtering for meaningful reply. What is sound advise today to properly inform and guide Real Estate Investors into 2009? I don’t have a magic potion but if I did, I would drink [...]
U.S. MBA’s Mortgage Applications Index Rose to Five-Year High
By Shobhana Chandra
Bloomberg News
Dec. 31 (Bloomberg) — Mortgage applications in the U.S. last week reached a five-year high as borrowing costs slid.
The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan rose to 1,245.7, the highest level since 2003, from the prior week’s 1,245.4. The group’s purchase gauge climbed 1.4 [...]
Foreclosures climb in Central Texas
By Shonda Novak | Austin American Statesman
Foreclosure postings for the upcoming Jan. 9 auction are up in four Central Texas counties, with double-digit spikes in Travis, Bastrop and Williamson counties..
The elevated numbers for those and some other Texas counties are “somewhat surprising, since (mortgage giants) Fannie Mae and Freddie Mac had pledged to suspend [...]
The Reality of a 4.5% Interest Rate
While the mortgage market continues to generate a lot of chatter in both the media and in Washington, interest rates are currently near or at all-time lows. If you or anyone you know are looking to take advantage of these low rates, let me explain why now is the time to act.
Lately there has been [...]
The Silver Lining…..
With the myriad of bad economic news constantly in the forefront of our lives these days, it’s interesting to stop and consider a few truths.
Take the following paragraph from a lead AP article last week:
http://www.amarillo.com/stories/121308/bus_12016280.shtml
WASHINGTON – Consumers reduced their spending at retail stores again in November while the costs of goods before they reach store [...]
