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Experts say bottom to lagging home sales is near.
March 24 2009 10:52
The National Association of Realtors reported on Monday that sales of existing homes rose 5.1 percent in February after a 5 percent decline in January. Home sales in the Northeast, South, West and Midwest all gained ground for February as buyers scooped up foreclosure properties.
“We are close to seeing a bottom in both new and existing home sales,” Michael T. Darda, chief economist at MKM Partners, wrote in a note to clients.
125 Abbott now in Featured Listings
December 31 2008 12:11
125 Abbott is now in our Featured Homes section. For property details, Click on 125 Abbott
Texas Becoming a Retirement Hotspot
December 29 2008 13:27
It may come as a surprise to many, but Texas is becoming a favorite retirement destination for many retirees. Central Texas is particlularly popular. Read the full report Texas Retirement Hotspot
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Why all the frowns? Good news about Austin - SMILE!
With so much depressing news being spewed out by newscasters take a moment and smile about all that is well with Austin. Here are some factoids that are positive about the future of Austin and its economy. Read and Smile!
Austin’s robust economy (as compared to the rest of the nation) is in large part due to a healthy State. US News and World Report recently named Texas as one of the best places to start a business. Allied Van Lines has proclaimed Texas as the number one state for residential relocations for the last 4 years running. Of course people are moving to Texas – we have a lot to SMILE about.
Austin is expected to grow by 38,000 residents within the year due mostly to national relocating services, natural population increases and international relocating services. In the previous 12 months ending November 2008 Austin created over 13,000 new jobs according to the Texas Workforce Commission. More jobs, more residents, more spending, healthier economy – SMILE!
Austin ranks 10th in the nation for job creation! And let’s not forget Houston, Dallas and San Antonio. Texas has 4 of the top 10 cities in the Nation for job creation. SMILE!
We have not had the manic swing of the pendulum in housing values in Austin. Although our sales are down it is believed by many that Austin will be on the leading edge of the housing rebound! Even with declining sales we reveled in a 2% gain in the median house value as compared to a national average of a decline of 13.2%. SMILE!
When we take in all of the suburbs and surrounding towns Austin only has a 5 month supply of homes compared to a national average of 12 months. There is even a lower supply of homes if we consider just new homes. Builders aren’t inclined to throw up spec homes on every acre of land they find.
Of course, the City of Austin planning department is not helping the construction industry either. They have made it almost impossible to build a home by the implementation of their Mc Mansion Mess and the fact that it takes 3 to 4 months to get a permit through the City because they change the rules every hour on the hour. Well that plus many of our building inspectors have to be dragged out of bowling alleys and BBQ joints to do their job of inspecting. But God love them; they have a job even if it is at the expense of tax payers! You got to SMILE on that one.
And we should give our Legislatures a big SMILE. Every now and then they get something right. As an example; they held home equity loans on a homestead to 80% of the value of the property. That is a major contributing factor as to why we don’t have more homeowners upside down in their homes! Go Lege!
This spring will usher in new leadership with the City of Austin. Out goes Metrosexual Mayor and with any luck his sidekick Rooster will be ousted as well. And maybe, just maybe the voters in Austin will vote in experienced, even-tempered, visionary leaders.
Seriously, we have a lot to SMILE about!
Regards,
David
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