Units for Sale:
Mar. 8 - Mar. 14, 2009
(compared to the same week in 2008)
New listings down this week 18.41%
Pendings are down 16.47%
Solds down 29.34%
As for Average Prices:
Mar. 8 - Mar. 14, 2009
Sold average sales prices increased less than 3.02% to $240,861. In 2008 it was $233,794 for the same week.
Tuesday, March 17, 2009
Monday, March 16, 2009
Tips to Avoid Identity Theft
Obviously this title doesn't suggest anything having to do directly with Austin Real Estate...however, after reading the article below I did think it prudent to share the information. I had no idea that this kind of theft has become the crime 'winner'. I suppose though having your credit identity hacked and torn apart does directly effect your potential real estate transactions. Take a few tips from this article:
Identity theft is now passing drug trafficking as the number one crime in the nation–with more than 15 million victims every year. Rather than lie awake at night worrying and wondering if your identity has been stolen, you can actually take a simple step to protect yourself...it's called a credit freeze (or, sometimes, a security freeze).
According to the U.S. Department of Justice, about 1.6 million households have experienced some form of theft when it comes to their financial accounts. Here are some important tips for keeping your information safe and sound:
Just the Facts. Don't give unnecessary information like your date of birth and income level when you're filling out things like warranty cards or supermarket club cards. Share only what's really necessary in every situation.
Navigating the Net. Never post your address or your full date of birth on any social networking sites because both are pieces of information needed to steal your identity.
Searching for a Job? Never give a potential employer your Social Security number on an Internet job site. Also, thoroughly read the privacy policies of any online job boards to make sure they won't sell your information.
Safe Keeping. Never keep your Social Security number in your wallet, glove compartment, or any other easy-to-access place. Also, never have it printed on your checks or use it as your password.
Shred 'Em. Remember, when you're ready to get rid of old documents that contain important information, shred them with a cross cut shredder.
Protect Your Mail. If you have to mail something that contains sensitive information, use a secure mailbox (not the one at the end of your driveway).
The bottom line is this: When it comes to your personal information, share it on a need-to-know basis only!
Identity theft is now passing drug trafficking as the number one crime in the nation–with more than 15 million victims every year. Rather than lie awake at night worrying and wondering if your identity has been stolen, you can actually take a simple step to protect yourself...it's called a credit freeze (or, sometimes, a security freeze).
According to the U.S. Department of Justice, about 1.6 million households have experienced some form of theft when it comes to their financial accounts. Here are some important tips for keeping your information safe and sound:
Just the Facts. Don't give unnecessary information like your date of birth and income level when you're filling out things like warranty cards or supermarket club cards. Share only what's really necessary in every situation.
Navigating the Net. Never post your address or your full date of birth on any social networking sites because both are pieces of information needed to steal your identity.
Searching for a Job? Never give a potential employer your Social Security number on an Internet job site. Also, thoroughly read the privacy policies of any online job boards to make sure they won't sell your information.
Safe Keeping. Never keep your Social Security number in your wallet, glove compartment, or any other easy-to-access place. Also, never have it printed on your checks or use it as your password.
Shred 'Em. Remember, when you're ready to get rid of old documents that contain important information, shred them with a cross cut shredder.
Protect Your Mail. If you have to mail something that contains sensitive information, use a secure mailbox (not the one at the end of your driveway).
The bottom line is this: When it comes to your personal information, share it on a need-to-know basis only!
Tuesday, March 10, 2009
Choosing a Fixed Rate Loan
Fixed rate loans generally come with one of two options; the 30-Year Fixed and the 15-Year Fixed. If a borrower is planning on being in the same home for a long period of time, a 30-Year Fixed may be more attractive because it offers stability. The monthly payment will remain consistent over the life of the loan. If interest rates are at historic lows at the time the borrower is seeking to obtain financing, this is a good program to consider.
A 15-Year Fixed loan program offers the same stability, but the accelerated amortization schedule makes the monthly payment substantially higher. While the interest rate may be lower on this type of loan, the borrower must be willing to commit to a higher monthly payment. If the borrower wishes to retire in 15 years and be debt-free at that time, this loan program may be more suitable to the borrower's long-term needs.
It is also possible to make pre-payments on a 30-Year loan and reduce the life of the loan, as well as the overall interest payment, without committing to the higher monthly payment of a 15-Year program. As long as there is no pre-payment penalty associated with the 30-Year mortgage, pre-payment offers the borrower the latitude to make additional payments when it is affordable. If cash flow becomes difficult, this arrangement will not put the borrower in a compromising position.
A 15-Year Fixed loan program offers the same stability, but the accelerated amortization schedule makes the monthly payment substantially higher. While the interest rate may be lower on this type of loan, the borrower must be willing to commit to a higher monthly payment. If the borrower wishes to retire in 15 years and be debt-free at that time, this loan program may be more suitable to the borrower's long-term needs.
It is also possible to make pre-payments on a 30-Year loan and reduce the life of the loan, as well as the overall interest payment, without committing to the higher monthly payment of a 15-Year program. As long as there is no pre-payment penalty associated with the 30-Year mortgage, pre-payment offers the borrower the latitude to make additional payments when it is affordable. If cash flow becomes difficult, this arrangement will not put the borrower in a compromising position.
Market Stats - March 10th, 2009
The number of active listings are up less than 1% over last year.
The number of new listings are down this week 22% (compared to 3/2/08 - 3/8/08).
Pendings are down this week 17%.
Sold residential units are down 39% compared to the same week last year.
How are we doing on sales prices? To get the full picture, check out the our web site for latest sold data.
For additional information on the current market, please visit out web site.
The Week in Review
Units for Sale:
Mar. 1 - Mar. 7, 2009
(compared to the same week in 2008)
New listings down this week 22%
Pendings are down 17%
Solds down 39%
As for Average Prices:
Mar. 1 - Mar. 7, 2009
Sold average sales prices increased less than 1% to $226,272. In 2008 it was $227,558 for the same week.
Check it out at
http://www.alamotitle-austin.com/mls_statistics.php
The number of new listings are down this week 22% (compared to 3/2/08 - 3/8/08).
Pendings are down this week 17%.
Sold residential units are down 39% compared to the same week last year.
How are we doing on sales prices? To get the full picture, check out the our web site for latest sold data.
For additional information on the current market, please visit out web site.
The Week in Review
Units for Sale:
Mar. 1 - Mar. 7, 2009
(compared to the same week in 2008)
New listings down this week 22%
Pendings are down 17%
Solds down 39%
As for Average Prices:
Mar. 1 - Mar. 7, 2009
Sold average sales prices increased less than 1% to $226,272. In 2008 it was $227,558 for the same week.
Check it out at
http://www.alamotitle-austin.com/mls_statistics.php
Wednesday, March 4, 2009
Enhanced Tax Credit Provides Outstanding Opportunity for Home Buyers
In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.
But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. Click HERE for more detailed information.
But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. Click HERE for more detailed information.
Keller Williams now 3rd LARGEST Real Estate Franchise
Austin-based Keller Williams Realty is now the third-largest real estate franchise in the country, as measured by number of agents.
Keller Williams had 72,794 agents at the end of 2008, according to Real Trends, a trade publication. That pulled it ahead of Re/Max International, which had been third.
The company has 679 offices in the United States, and said it distributed $30 million in profits to agents last year under a profit-sharing program.
Keller Williams focuses on residential real estate but last year launched a commercial division, which now has 220 brokers in the U.S. and Canada.
Keller Williams had 72,794 agents at the end of 2008, according to Real Trends, a trade publication. That pulled it ahead of Re/Max International, which had been third.
The company has 679 offices in the United States, and said it distributed $30 million in profits to agents last year under a profit-sharing program.
Keller Williams focuses on residential real estate but last year launched a commercial division, which now has 220 brokers in the U.S. and Canada.
Austin Joins Top Ranks for Growth
Forbes magazine ranked Austin, Texas, #3 in its Best Cities for Jobs in 2008 and that makes Austin a great target area for real estate. The Texas state capital city came in #1 for income growth in the Forbes list and #2 for job growth. When you consider that houses are where the jobs go at night, then Austin homeowners are sure to rest well, knowing they're in a good spot for equity growth.
While the number of houses sold in December dropped 16 percent compared to a year earlier, the Austin American Statesman reports the average price buyers paid was up 8 percent at $191,000. While sales volume is expected to cool in the city, Austin's job market keeps growing, creating greater demand for homes in great condition and priced right.
Price growth hasn't stopped through the last three years. In 2004, the average single family home sold in Austin was at $154,700. The latest report from the National Association of Realtors shows the same house at $188,200 for the end of the third quarter 2007 -- a gain of more than 21 percent.
While the rest of the country's pricing leveled and dipped last year, homeowners' equity growth continued upward throughout the last 12 months. Meanwhile, while Economy.com forecasts prices to level and dip for the citizens of Austin by about 4 percent in the next several months, job growth will put pressure on the inventory, creating a high level of demand on the dwindling supply.
What's keeping the market insulated from a bubble-like implosion is job growth. The Texas Workforce Commission released job expansion figures indicating the Austin region added 29,500 new jobs during the 12 months ending September 2007 -- a 4 percent gain in employment during the past year.
While the number of houses sold in December dropped 16 percent compared to a year earlier, the Austin American Statesman reports the average price buyers paid was up 8 percent at $191,000. While sales volume is expected to cool in the city, Austin's job market keeps growing, creating greater demand for homes in great condition and priced right.
Price growth hasn't stopped through the last three years. In 2004, the average single family home sold in Austin was at $154,700. The latest report from the National Association of Realtors shows the same house at $188,200 for the end of the third quarter 2007 -- a gain of more than 21 percent.
While the rest of the country's pricing leveled and dipped last year, homeowners' equity growth continued upward throughout the last 12 months. Meanwhile, while Economy.com forecasts prices to level and dip for the citizens of Austin by about 4 percent in the next several months, job growth will put pressure on the inventory, creating a high level of demand on the dwindling supply.
What's keeping the market insulated from a bubble-like implosion is job growth. The Texas Workforce Commission released job expansion figures indicating the Austin region added 29,500 new jobs during the 12 months ending September 2007 -- a 4 percent gain in employment during the past year.
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