38% more single-family homes were sold in October 2009 versus a year ago in the Austin market! The $8000 first-time homebuyer tax credit is clearly a driving force of the recovery, as many of the homes were at the price points most frequently purchased ...
[Read More] I've received some inquiries from clients looking to take advantage of the $8000 first-time homebuyer tax credit, as well as the $6500 credit for existing homeowners looking to make a move. While I always (and I do mean ALWAYS) advise you to consult ...
[Read More] It's official. The $8,000 first-time homebuyer tax credit, which was slated to expire Nov. 30, 2009, has been extended for contracts signed before May 1, 2010. The bill was signed Friday Nov 6th. First-time buyers, who are in the process of closing ...
[Read More] According to an article in todays 11/3/09 Forbes magazine, congress will vote next week on whether to extend the $8000 tax credit for first time home buyers. Currently scheduled to expire on Nov 30, 2009, the credit is expected to be extended for first ...
[Read More] The stories of predatory lending practices from the earlier part of this decade are enough to make you wonder why any sensible person would fill out a mortgage loan application without a police escort. But some tough legislation that has taken effect over ...
[Read More] In the current Austin Housing Market, a correctly priced home will generate showing activity in the first week. A properly staged home should generate an offer in the first month. Professional surveys have shown, when a home is listed for 30 days, the ...
[Read More] Most buyers purchasing a home for under $250,000 use an FHA loan which is 96.5% financing and 3.5% down. . There are additional buyer closing costs (setting up escrow, hazard insurance, appraisal, loan origination) which in Texas add up to another 3% . ...
[Read More] I'm surprised by how many folks I've spoken with who are still undecided about whether to buy their first home before the tax credit expires on November 30. As a homeowner, I know that no one wants to feel rushed into making such a big decision. ...
[Read More] If you own a condo in the Austin metro, you had better listen up. The guildelines are changing wildly when it comes to whether your condo will be eligible for an FHA loan in the coming years. Since FHA loans are by and large supporting the housing recovery ...
[Read More] Thinking of the USDA loan program, you might be more likely to conjure pastoral images of TV's The Waltons than say, the comfortable Texas suburbs of King of the Hill . But with the government using everything in its toolbox to reignite the housing ...
[Read More] "Austin has become a gathering place for tech- and arts-conscious young adults," says the WSJ piece on next big youth magnet cities. The panelists predict that come next year, Austin will recover first and fastest. Check out the article. WSJ.COM
[Read More] Block House Creek, Leander - We invite everyone to visit our open house at 2712 Winslow on September 13 from 2:00 PM to 4:00 PM . Property information
[Read More] While housing prices have dropped as much as 30% in some markets, in the Austin Area, median prices are down less than 1% from 2008. The driving forces are the relatively strong local economy and the $8000 Tax Credit for first time home buyers. Following ...
[Read More] Homeowners falling behind on their monthly payments have several alternatives to foreclosure. 1) Loan Modification - the lender agrees to modify terms of the existing mortgage. Each bank has different rules, so contact your lender directly. Check your ...
[Read More] First time buyers still have time to purchase by November 30th to qualify for the $8000 Tax Credit. Lenders are taking about 5 weeks to process and close loans, and it would be safe to be under contract by early October for a mid November closing. Because ...
[Read More] . . . almost to a fault. If it's in that sweet spot below $155,000 or so, and in an area within 12 minutes to downtown (think William Cannon, 51st and Manor, etc.,) then plan on fighting for it. I'm in my *fourth* multiple offer situation so far ...
[Read More] This is sort of an advanced studies question that I hope none of you ever have to deal with. Prior to the Mortgage Debt Relief Act passed by Congress, folks whose homes were sold as short sale (or preforeclosure) were in for a nasty surprise on next year's ...
[Read More] You wouldn't normally think of the concrete jungle that is downtown Austin as the most dog-friendly area of town, right? But the new Austonian condo tower has the pooches lined up with it's impressive in-house dog park, doggy day care and veterianary ...
[Read More] Florida and California have seen housing prices drop dramatically in the last 2 years. Is Austin next? When demand for housing exceeds supply, prices rise. Once the market cools off, prices come back down. Texas is fortunate to have enough vacant land ...
[Read More] This really could be the best time for a first time home buyer to start building their nest egg. For another 8 months the Federal Government will help you out. After that, your guess is a good as anyone else's. But for now, this is an offer of free ...
[Read More] What's happening to housing prices in Buda and Kyle? Here a quick look at the first 3 months of 2009 compared to the same 3 months 1 year ago. Qtr 1 # Sold Median Sales Price 2008 135 $139,900 2009 84 $138,800 When you look at the numbers more closely, ...
[Read More] Chief Executive magazine has again ranked Texas as the best state in the nation to conduct business. If only the national news reporting of doom and gloom would ease, we could all get back to work. Here is the article from Austin Business Journal. http://austin.bizjournals.com/austin/stories/2009/03/16/daily36.html?surround=etf ...
[Read More] The summary of housing prices in the nation for last year from the Federal Housing Finance Authority are out. Nation wide housing prices fell 4.5%. Texas home prices were up 2.1% in 2009. Austin did even better with home prices increasing 4.4%. Here are ...
[Read More] Austin is still growing at a good pace and that will help us all through the rough times in the national economy. The US Census Bureau now puts the population of the Austin MSA at 1.65 million. http://austin.bizjournals.com/austin/stories/2009/03/16/daily51.html?ana=e_du_pub ...
[Read More] There are 2 kinds of residential Realtors: listing agents and buyer's agents. The listing agents have a contractual duty to get the highest price for a home. Buyer's agents work to get the purchaser the best deal. In Texas, it is illegal for a ...
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