Where is the market compared to last year?

This infographic is for the nation.

InfoGraphic Source:  KCM Blog

Nationwide, the amount of sales and prices are up 11% or more compared to the same time last year.  Inventory has also decreased 20% across the board.   Austin has been outperforming the national averages consistently over the prior year.  That means our houses are selling faster at higher prices while our inventory continues to shrink.  When contemplating if it’s a good time to sell…NOW is it.  Very little supply leads to high demand.  Sellers have very little competition and buyers are eager to find good homes.  If you want information about your specific neighborhood just comment on this post.

1405 Blair St. FOR SALE

Nicole Cooper | Resident Realty | (512) 698-2393 1405 Blair St, Gonzales, TX Cash Flow Duplex; 2 beds/1.5 baths on each side. 2BR/1+1BA Multi-Family, 2 units offered at $92,000 Year Built 1980 Sq Footage 2,100 Bedrooms 2 Bathrooms 1 full, 1 partial Floors 2 Parking Unspecified Lot Size 7,405 sqft HOA/Maint $0 per month DESCRIPTION Cash Flow with this duplex. $1,200 per month currently. Market rent could be $1,350 per month. Units include 2 beds/1.5 baths, dishwashers, CA/CH, storage. Fenced rear yards and carports. see additional photos below PROPERTY FEATURES – Living room – Storage space – Walk-in closet – Dishwasher – Stove/Oven – Balcony, Deck, or Patio – Fenced yard – Porch – Yard – Air conditioning – Central A/C – Central heat – Cable-ready – Covered parking – Guest parking – Off-street parking ADDITIONAL PHOTOS Photo 2 Photo 1 Contact info: Nicole Cooper Resident Realty (512) 698-2393 For sale by agent/broker Posted: Oct 17, 2012, 10:18am PDT

2017 D Simond FOR LEASE

Nicole Cooper | Resident Realty | (512) 698-2393 2017D Simond Ave # D, Austin, TX Huge home, great location, doggy door. 4BR/3+1BA Condo $2,600/month Bedrooms 4 Bathrooms 3 full, 1 partial Sq Footage 2,377 Parking 2 dedicated Pet Policy Dogs Deposit $2,500 DESCRIPTION Spacious 4 bed/3.5 bath end unit with master suite on first floor. Large family room, 10′ ceilings, office, covered porches, gourmet kitchen with gas cooktop. Low maintenance…yard is mowed by HOA. 3 star Green. Conveniently located 3 miles from downtown and UT. see additional photos below RENTAL FEATURES – Dishwasher – Dryer – Garbage disposal – Microwave – Refrigerator – Stove/Oven – Washer – Balcony, Deck, or Patio – Fenced yard – Sprinkler system – Air conditioning – Ceiling fans – Central A/C – Central heat – Double pane windows – Cable-ready – High-speed internet – Guest parking – Garage – Attached – Granite countertop – Hardwood floor – Tile floor     COMMUNITY FEATURES – Barbecue area – Lake – Near transportation – Playground – Pond – Swimming pool LEASE TERMS 12-24 Months; $2,600/month ADDITIONAL PHOTOS Photo 1 Photo 2 Photo 3 Photo 4 Contact info: Nicole Cooper Resident Realty (512) 698-2393 Posted: Oct 17, 2012, 10:17am PDT

Housing Prices: Looking for the Bottom? We may be There

House Prices: Looking for the Bottom? We May Be There – On a National Level

Posted: 15 Oct 2012 04:00 AM PDT

 With sales and prices increasing in most regions of the country, it looks as though housing recovery is in full swing. There are more and more housing analysts declaring that we have turned the corner. A recent article on money-rates.com explains that now may be the time to act if you are thinking of purchasing a home.

“Right now, conditions for buyers are exceptionally good, because current mortgage rates are at record low levels, and housing prices are still well off their peaks. Already though, recent numbers indicate that housing prices are starting to move. If this continues, mortgage rates might follow. In particular, if lower-end housing prices are now making the strongest gains, people looking to enter the housing market for the first time should prepare to act.”

Others Are Also Calling a Bottom

In a Chicago Sun Times article, co-creator of the Case-Shiller home price index Robert Shiller agreed saying that, even though there are still questions in the overall economy, “it’s a good time to buy a house”.

Ivy Zelman, chief executive at research firm Zelman & Associates, has also said:

“[Housing] is turning positive and we see the data reflecting that.”

Writing in the Financial Times, Roger Altman, former deputy Treasury secretary, said:

 “A turn in the [housing] market is occurring now and it should become a boom by 2015.”

And Jamie Dimon says the U..S housing market has “turned the corner” as JPMorgan Chase and Wells Fargo, the two biggest US Banks have seen a surge in mortgage demand. He also warned that interest rates would “probably” rise “sometime in 2013”.

What Does That Mean to You?

If you have been waiting for the bottom in real estate prices, it seems your time may have arrived. As the Money-Rate article concluded:

“The housing market may be better off than people know. As many found out during the housing boom, waiting until everyone knows the market is healthy before you buy can be an expensive proposition.”

Source: KCM Blog

Foreclosures are down…mostly.

Completed Foreclosures Down…in Most States

Posted: 08 Oct 2012 04:00 AM PDT

According to the latest foreclosure report from CoreLogic, there were 57,000 completed foreclosures in the U.S. in August 2012, down from 75,000 in August 2011 and 58,000  in July 2012.

Mark Fleming, chief economist for CoreLogic reveals:

“August marks the fourth month in a row there were fewer completed foreclosures, which is more evidence that the housing industry is finding its footing. While we are seeing improvement on a national level, there remain higher concentrations of foreclosures in some areas with five states accounting for nearly half of all completed foreclosures nationwide during the last year.”

The five states with the highest number of completed foreclosures for the 12 months ending in August 2012 account for 48.1 percent of all completed foreclosures nationally. They are:

• California (110,000)
• Florida (92,000)
• Michigan (62,000)
• Texas (58,000)
• Georgia (55,000)

The five states with the lowest number of completed foreclosures for the 12 months ending in August 2012:

• South Dakota (25)
• District of Columbia (113)
• Hawaii (435)
• North Dakota (564)
• Maine (612)

We still must realize that part of the reason completed foreclosures are declining is that banks are finding other ways to  liquidate their distressed properties. According to Anand Nallathambi, president and CEO of CoreLogic:

“The reduction in foreclosure volumes is to some degree being facilitated by the rising popularity of alternative resolution methods, such as short sales and loan modifications.”

Source: KCM Blog

Interesting real estate Appreciation

House Prices: Annual Appreciation for Last 25 Years

Posted: 05 Oct 2012 04:00 AM PDT

 

 InfoGraphic

Source: KCM Blog

Think it’s a good time to Invest? Yes

Cost of a Home: Impact of Interest Rates

Posted: 02 Oct 2012 04:00 AM PDT

 The buyer should always look at the COST of a home, not just the PRICE. The cost is determined by the price and the mortgage interest rate which is available at the time. Below is a list of the interest rates over the last ten years and the impact they have on a $100,000 mortgage payment.

Source: KCM Blog

More than 13,000 homes sell Everyday!

Home Sale Stats

Posted: 28 Sep 2012 04:00 AM PDT

 

InfoGraphic

Based on NAR’s September Existing Home Sales Report

Source: KCM Blog