We are seeing a sizable increase in the number of foreclosures posted for next month (August 2008)) in the Austin area over last year. This was reported recently in the Austin American Statesman.
"The number of Austin area residential foreclosures posted for the upcoming August auction increased 31 percent over last year. There are 741 postings for August in the four-county..(read more)
You can't turn on a TV today without someone selling you telecom services. From cell phones to high speed net access, the deals are abundant. In this five-part series, we are looking at novel ways to understand trends that impact our home's value.
<See PC Magazine: How to Future Proof Your Home with Fiber>
In most parts of the country there are two..(read more)
We have long suspected that Austin is a hidden treasure in the housing market, and now the facts are beginning to back it up.
The financial and business Web site Bloomberg.com last month named Austin as one of the country's select few attractive, low-risk housing markets. And according to the Office of Federal Housing Enterprise Oversight (OFHEO), Texas has seen almost a 5% increase in..(read more)
We noticed a strange story coming out of Washington a few weeks back: Fannie Mae and Freddie Mac -- the huge companies that buy most conforming loans from local lenders -- agreed to tougher standards for appraisers.
Under the deal worked out with New York state attorney general Andrew Cuomo, the big loan buyers agreed to create a "New Home Valuation Protection Code" which has three..(read more)
We received a question from one of our valued Austin clients inquiring about whether they can purchase real estate through their IRA. We are not tax advisers or financial gurus (so seek their assistance!), but in general terms it is possible to buy and sell real estate thru your IRA. Section 408 of the Internal Revenue Code permits individuals to purchase land, commercial property, condominiums,..(read more)
Oftentimes clients ask us for contractor referrals from an electrician, re-modeler to ground up new home builders. When are happy to share our best contacts, but inevitably the question of "Are they Bonded and Insured?" come up.
A contractor is not just the guy you hired to build your home or install a new shower. A contractor is anyone hired to perform..(read more)
This is the letter that Mayor Will Wynn sent out a couple of weeks ago about the Austin energy efficiency issues with homeowners. A “green home tax” was being considered on Austin homeowners by the City Council. The City Council Task Force wants all Austin homeowners to get an energy audit but they don’t have to do the upgrades which could be expensive. Read the Mayor’s letter..(read more)
The Federal Reserve, taking a break from its aggressive rate-cutting policy, chose not to alter key interest rates Wednesday, leaving the Fed Funds rate at 2.00% and everyone wondering where interest rates are headed next.
Since last September, the Fed has cut rates seven times for a total of 3.25%. However, many experts believe that the Fed's decision this Wednesday, along with comments from the..(read more)
Many Austin home buyers do not realize that approval for a loan does not guarantee they will get the loan. Buyer behavior after getting the approval can cause the loan to be disapproved by the lender. This can often happen right before closing and ruin everyone’s day.
Remember, your loan approval is based on your current financial and credit status as of the date of the loan approval.
Your..(read more)
Unfortunately, the media’s continued focus on negative real estate news is not the whole story especially in Austin and this negative news is resulting in buyers missing tremendous opportunity by sitting on the sidelines.
Here are some facts to consider if you are on the fence about purchasing.
Fact #1: Some six million Americans are expected to buy a home this year. Six million..(read more)
