Thursday, December 15, 2011
Thursday, December 1, 2011
Austin real estate round-up: Nov. 30
A round-up listing of recent commercial deals and announcements in the Austin real estate market since last Wednesday:
http://www.bizjournals.com/austin/blog/retail/2011/11/austin-real-estate-round-up-nov-30.html
http://www.bizjournals.com/austin/blog/retail/2011/11/austin-real-estate-round-up-nov-30.html
Monday, November 21, 2011
Where To Invest In Now? Austin, TX.
Real estate expert, Greg Rand, explains why Austin is a great market to invest in now for the following reasons:
Watch the video for a more in depth conversation as to why he chose Austin as a top market for investors:
- Highly efficiently run state and city governments
- Tourism and culture
- National migration patterns show that people are flocking to Austin
- Austin has managed to buck the housing recession
- Jobs
Watch the video for a more in depth conversation as to why he chose Austin as a top market for investors:
Wednesday, November 16, 2011
Who inked deals this week?
Here is a round-up listing of recent deals and announcements in the Austin real estate market since last Wednesday: http://www.bizjournals.com/austin/blog/retail/2011/11/austin-real-estate-round-up-nov-16.html
Friday, October 21, 2011
In this economy, people are spending more time at home.
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For more details, contact Laura Macias at 512.659.5590 or at lauramacias@austin.rr.com.
Monday, October 10, 2011
A Personal Approach To Relocation
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Austin Area Home Sales Up by More Than 30 Percent For Second Consecutive Month
September 20, 2011 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, 1,978 single-family homes were sold in the Austin area in August 2011, totaling a 33 percent increase from August 2010. During the same time period, the median price for Austin-area homes was $200,000, a figure that was unchanged compared to the same month of the prior year.
Judith Bundschuh, Chairman of the Austin Board of REALTORS® commented, “With the impact of the homebuyer tax credits fully behind us, it’s encouraging to see three consecutive months of year-over-year growth in sales volume for Austin-area homes, particularly the strong growth seen late this summer.”
As reported previously, a total of 1,973 Austin-area homes sold in July 2011, which is 32 percent more than July 2010. Additionally, 2,145 single-family homes were sold in June 2011, nine percent more than June 2010.
Austin-area homes spent an average of 79 days on the market in August 2011, which is two days longer than August 2010. The Austin market also featured nine percent fewer new listings, 22 percent fewer active listings and 19 percent more pending sales than August 2010.
“The trend of decreasing inventory of single-family homes that we’ve seen in recent months accelerated in August 2011, dropping below six months of inventory for the first time since February 2011,” said Bundschuh.
The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the past 12 months. In August 2011, the Austin market had 5.7 months of inventory, compared to 6.9 months of inventory in August 2010. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
The following sections describe trends in other sectors of the Austin real estate market.
Judith Bundschuh, Chairman of the Austin Board of REALTORS® commented, “With the impact of the homebuyer tax credits fully behind us, it’s encouraging to see three consecutive months of year-over-year growth in sales volume for Austin-area homes, particularly the strong growth seen late this summer.”
As reported previously, a total of 1,973 Austin-area homes sold in July 2011, which is 32 percent more than July 2010. Additionally, 2,145 single-family homes were sold in June 2011, nine percent more than June 2010.
Austin-area homes spent an average of 79 days on the market in August 2011, which is two days longer than August 2010. The Austin market also featured nine percent fewer new listings, 22 percent fewer active listings and 19 percent more pending sales than August 2010.
“The trend of decreasing inventory of single-family homes that we’ve seen in recent months accelerated in August 2011, dropping below six months of inventory for the first time since February 2011,” said Bundschuh.
The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the past 12 months. In August 2011, the Austin market had 5.7 months of inventory, compared to 6.9 months of inventory in August 2010. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
The following sections describe trends in other sectors of the Austin real estate market.
Townhouses & Condominiums
The volume of townhouses and condominiums (condos) purchased in the Austin area in August 2011 was 215, which is 16 percent more than August 2010. In the same time period, the median price for condos was $162,000, one percent less than August 2010. When compared to the same month of the prior year, these properties spent 30 percent longer on the market, or an average of 107 days.
Leasing
In August 2011, 1,949 properties were leased in Austin, three percent more than August 2010. The median price for Austin-area leases was $1,300, seven percent higher than the same month of the prior year.
August 2011 Statistics
- 1,978 – Single-family homes sold, 33 percent more than August 2010.
- $200,000 – Median price for single-family homes, unchanged from August 2010.
- 79 – Average number of days single-family homes spent on the market, two days longer than August 2010.
- 2,386 – New single-family home listings on the market, nine percent less than August 2010.
- 8,705 – Active single-family home listings on the market, 22 percent less than August 2010.
- 1,789 – Pending sales for single-family homes, 19 percent more than August 2010.
- 5.7 – Months of inventory of single-family homes, 1.2 months less than August 2010.
- $516,797,994 – Total dollar volume of single-family properties sold, 31 percent more than August 2010.
Monday, August 15, 2011
2011 2nd Quarter Review - Austin Real Estate Market
Home prices in Austin remained stable during the second quarter of 2011. Compared to the previous year, the median price of Austin homes rose three percent in April and four percent in May, finishing with a median price of $205,000 by the end of June. In addition, June saw an increase of Austin home sales, nine percent more than June of 2010.
During the first half of the year, a total of 9,299 homes were sold in Austin, five percent fewer than the same period in 2010. However, pending sales, which indicate the number of sales likely to close in the next month, were higher in the second quarter when compared to 2010, with a 53 percent increase in May and a 31 percent increase in June.
Austin homes spent an average of 88 days on market (DOM) in April, 81 days in May and 75 days in June, marking the shortest DOM figures since the Fall of 2010. While these numbers indicate that Austin real estate spent more time on market than during the same period one year ago, they were the lowest DOM figures seen in Austin since September 2010.
"Looking at the results, it's encouraging to see that the demand for homes is strong and that Austin-area homes continue to hold their value," said Judith Bundschuh, Chairman of the Austin Board of REALTORS®. "The increase in pending sales…coupled with stable prices and stronger sales [in June], are encouraging signs that the market is returning to a pre-recession seasonal cycle."
During the first half of the year, a total of 9,299 homes were sold in Austin, five percent fewer than the same period in 2010. However, pending sales, which indicate the number of sales likely to close in the next month, were higher in the second quarter when compared to 2010, with a 53 percent increase in May and a 31 percent increase in June.
Austin homes spent an average of 88 days on market (DOM) in April, 81 days in May and 75 days in June, marking the shortest DOM figures since the Fall of 2010. While these numbers indicate that Austin real estate spent more time on market than during the same period one year ago, they were the lowest DOM figures seen in Austin since September 2010.
"Looking at the results, it's encouraging to see that the demand for homes is strong and that Austin-area homes continue to hold their value," said Judith Bundschuh, Chairman of the Austin Board of REALTORS®. "The increase in pending sales…coupled with stable prices and stronger sales [in June], are encouraging signs that the market is returning to a pre-recession seasonal cycle."
Tuesday, August 2, 2011
Operation "Big Dawg"
The City of Pflugerville has hired a prominent consultant to be its confidential go-between in pursuing a huge employer that officials can’t speak of. The project's code name is "Big Dawg"
“What project Big Dawg is, no one knows, but we do know it’s a major employer, a big company that wants to establish a big Austin-area location,” editor of Austin Business Journal, Colin Pope, said.
I love the mystery of it all. Will keep you posted if any new clues arise.
“What project Big Dawg is, no one knows, but we do know it’s a major employer, a big company that wants to establish a big Austin-area location,” editor of Austin Business Journal, Colin Pope, said.
I love the mystery of it all. Will keep you posted if any new clues arise.
Wednesday, July 27, 2011
Wednesday, May 11, 2011
Tuesday, May 3, 2011
TEXAS' ECONOMIC RECOVERY CONTINUES, FIGURES SHOW
AUSTIN (Texas Association of Realtors) – According to the Texas Quarterly Housing Report released yesterday by the Texas Association of Realtors (TAR), Texas homes maintained their value in first quarter 2011. This despite a decrease in sales volume, indicating that economic recovery continues in Texas.
"While Texas has not been untouched by the recent economic downturn as indicated by the decrease in sales, it is encouraging to see home prices hold their value in the first quarter," said TAR Chairman Dwight Hale.
In the first quarter, the median price of existing single-family homes increased 1.3 percent to $143,300 compared with first quarter 2010. During the same period, the volume of home sales was 40,192, 7.3 percent less than the previous year.
"In evaluating the first quarter of 2011, we must remember we're comparing it to the first quarter of 2010," said Dr. Jim Gaines, research economist with the Real Estate Center at Texas A&M University. "That time period included March, which was one of the most heavily government-stimulated months of the year by the homebuyer tax credit. While we expected sales to be down given this anomaly, we expected the decrease in the sales volume to be much greater, suggesting that the market is performing well despite the absence of tax credits."
Texas had 7.5 months of inventory in the first quarter, compared with 6.8 months a year ago.
"Texas is still performing considerably better than other states in terms of maintaining balance between home inventory and demand," Gaines said. "Combined with the fact that Texas has maintained strong property values, this indicates that the market is absorbing foreclosed and other distressed properties without experiencing harmful excess supply."
"While Texas has not been untouched by the recent economic downturn as indicated by the decrease in sales, it is encouraging to see home prices hold their value in the first quarter," said TAR Chairman Dwight Hale.
In the first quarter, the median price of existing single-family homes increased 1.3 percent to $143,300 compared with first quarter 2010. During the same period, the volume of home sales was 40,192, 7.3 percent less than the previous year.
"In evaluating the first quarter of 2011, we must remember we're comparing it to the first quarter of 2010," said Dr. Jim Gaines, research economist with the Real Estate Center at Texas A&M University. "That time period included March, which was one of the most heavily government-stimulated months of the year by the homebuyer tax credit. While we expected sales to be down given this anomaly, we expected the decrease in the sales volume to be much greater, suggesting that the market is performing well despite the absence of tax credits."
Texas had 7.5 months of inventory in the first quarter, compared with 6.8 months a year ago.
"Texas is still performing considerably better than other states in terms of maintaining balance between home inventory and demand," Gaines said. "Combined with the fact that Texas has maintained strong property values, this indicates that the market is absorbing foreclosed and other distressed properties without experiencing harmful excess supply."
Thursday, April 7, 2011
Wednesday, March 30, 2011
Friday, March 25, 2011
BUILDERS REV UP CENTRAL TEXAS PROJECTS
AUSTIN (Austin American-Statesman) – MileStone Community Builders is banking on the housing sector recovering from the recession after announcing multiple housing developments in Central Texas. And they're not alone.
The newly founded home builder expects to begin work on several projects this year, including a subdivision along East Riverside Dr. in southeast Austin. The $13.5 million community at Riverside and Faro Dr. will have 89 homes, with prices averaging around $175,000. Construction is slated to begin in October.
Four other communities are in the works from Milestone:
Sixty to 70 homes in the Round Rock 620/ Round Rock 2222 area near Lake Travis, averaging $300,000 in price.
Two projects in the South Manchaca/Slaughter Ln. area in south Austin, one with 80 to 100 homes priced from $150,000 to $200,000 and the other with 80 homes priced from the $140,000s to the $180,000s.
A 115-home luxury community at Parmer Ln. and Brushy Creek in the Cedar Park area, with prices starting from about $280,000 to more than $400,000.
Avalonpark Texas also began its own development, dubbed the Springs of Walnut Creek, near I-35 and Yager Ln. in the northern part of the city. Road and utility efforts for the 53 home sites, which are expected to be ready later this year, have been launched while an additional 56 sites will be made ready by mid-2012. The community will fall in the Pflugerville school district. Homes will range from the low to high $200,000s.
Standard Pacific Homes is nearing the completion of its 111-acre Avaña, with its model home expected to be open in the next two to three months.
The newly founded home builder expects to begin work on several projects this year, including a subdivision along East Riverside Dr. in southeast Austin. The $13.5 million community at Riverside and Faro Dr. will have 89 homes, with prices averaging around $175,000. Construction is slated to begin in October.
Four other communities are in the works from Milestone:
Sixty to 70 homes in the Round Rock 620/ Round Rock 2222 area near Lake Travis, averaging $300,000 in price.
Two projects in the South Manchaca/Slaughter Ln. area in south Austin, one with 80 to 100 homes priced from $150,000 to $200,000 and the other with 80 homes priced from the $140,000s to the $180,000s.
A 115-home luxury community at Parmer Ln. and Brushy Creek in the Cedar Park area, with prices starting from about $280,000 to more than $400,000.
Avalonpark Texas also began its own development, dubbed the Springs of Walnut Creek, near I-35 and Yager Ln. in the northern part of the city. Road and utility efforts for the 53 home sites, which are expected to be ready later this year, have been launched while an additional 56 sites will be made ready by mid-2012. The community will fall in the Pflugerville school district. Homes will range from the low to high $200,000s.
Standard Pacific Homes is nearing the completion of its 111-acre Avaña, with its model home expected to be open in the next two to three months.
Wednesday, March 16, 2011
Texas metros ranked as healthiest markets for 2011
Builder Magazine ranked six Texas metros in top spots on their 2011 Builder Healthy Markets Index, which evaluates markets on economic metrics such as home prices, employment, and income. Texas claimed more spots than any other state in the top 20 healthiest markets. The study ranked Austin-Round Rock, Houston-Sugarland-Baytown, San Antonio, Dallas-Fort Worth-Arlington, and El Paso at two, seven, 10, 12 and 15, respectively. Read each market’s description at Builder Magazine.
Wednesday, March 9, 2011
Austin Real Estate Report
Austin area home sales volume up 14 percent in January compared to 2010
Austin Board of REALTORS® releases January 2011 real estate statistics
AUSTIN, Texas – February 21, 2011 - Sales of single-family Austin homes were 14 percent higher in January 2011 than January 2010 with 975 homes sold, according to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®.
In the same time period, the median price in Austin was $190,000, up six percent from January 2010; and Austin homes spent an average of 93 days on the market, 11 percent longer than January 2010. In addition, new listings were down 14 percent in January 2011 compared to January 2010 and active listings were down five percent, indicating a decreasing inventory of homes.
"The latest figures show that we are seeing the economic recovery continue in Austin," said Judith Bundschuh, Chairman of the Austin Board of REALTORS®.
Chairman Bundschuh continued, "Looking at these results, sellers should be encouraged that demand and prices are strong, but they should expect to be patient to achieve full value. Buyers should know that fewer listings combined with increased demand could mean they will encounter more competition for properties."
January 2011 Statistics
$245,504,025 – Total dollar volume of single–family properties sold, 16 percent more than January 2010.
$190,000 – Median price for single–family homes, six percent more than January 2010.
975 – Single–family homes sold, 14 percent more than January 2010.
93 – Days on market, 11 percent longer than January 2010.
2,403 – New single–family home listings on the market, 14 percent less than January 2010.
8,144 – Active single–family home listings on the market, five percent less than January 2010.
1,410 – Pending sales for single–family homes, unchanged from January 2010.
In the same time period, the median price in Austin was $190,000, up six percent from January 2010; and Austin homes spent an average of 93 days on the market, 11 percent longer than January 2010. In addition, new listings were down 14 percent in January 2011 compared to January 2010 and active listings were down five percent, indicating a decreasing inventory of homes.
"The latest figures show that we are seeing the economic recovery continue in Austin," said Judith Bundschuh, Chairman of the Austin Board of REALTORS®.
Chairman Bundschuh continued, "Looking at these results, sellers should be encouraged that demand and prices are strong, but they should expect to be patient to achieve full value. Buyers should know that fewer listings combined with increased demand could mean they will encounter more competition for properties."
January 2011 Statistics
$245,504,025 – Total dollar volume of single–family properties sold, 16 percent more than January 2010.
$190,000 – Median price for single–family homes, six percent more than January 2010.
975 – Single–family homes sold, 14 percent more than January 2010.
93 – Days on market, 11 percent longer than January 2010.
2,403 – New single–family home listings on the market, 14 percent less than January 2010.
8,144 – Active single–family home listings on the market, five percent less than January 2010.
1,410 – Pending sales for single–family homes, unchanged from January 2010.
Wednesday, March 2, 2011
Monday, February 28, 2011
TEXAS HOME SALES, MEDIAN PRICES UP
COLLEGE STATION (Real Estate Center) – Some 10,628 existing single-family homes were sold in Texas last month, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University. That's a 2 percent increase over a year ago.
The median price was also up 2 percent from January 2010, at $139,100. There was a 7.3-month inventory.
January 2011 MLS data for many Texas cities (current as of today) are available on the Center's website. Here is a sampling:
| Sales | Change from Last Year | Median Price | Change from Last Year | Months' Inventory | |
|---|---|---|---|---|---|
| Amarillo | 122 | up 14% | $122,700 | down 6% | 6.9 |
| Austin | 1,066 | up 8% | $186,300 | up 6% | 5.6 |
Corpus | 175 | up 11% | $128,500 | up 2% | 9.8 |
| Dallas | 2,043 | down 8% | $150,100 | up 7% | 6.4 |
| El Paso | 339 | up 34% | $127,900 | down 2% | 6.6 |
| Fort Worth | 407 | down 12% | $105,000 | up 2% | 6.8 |
| Harlingen | 56 | down 20% | $76,000 | down 11% | unavailable |
| Houston | 3,085 | up 8% | $136,600 | down 4% | 7.4 |
| Lubbock | 135 | down 3% | $110,000 | up 2% | 7 |
| Odessa | 50 | up 56% | $136,700 | up 16% | 4 |
| San Angelo | 63 | up 7% | $118,900 | up 40% | 6.3 |
| San Antonio | 951 | up 11% | $143,900 | up 4% | 7.7 |
| Temple- Belton | 77 | down 9% | $125,000 | up 19% | 8.1 |
| Tyler | 143 | down 11% | $120,600 | down 13% | 12.6 |
| Wichita Falls | 80 | down 10% | $90,000 | up 3% | 7.8 |
| Texas | 10,628 | up 2% | $139,100 | up 2% | 7.3 |
2011 Summer Camps
It's that time of year again! A comprehensive listing of Austin and San Antonio area camps. Happy Camping!
To get the list, click HERE.
To get the list, click HERE.
Friday, February 11, 2011
Wednesday, January 26, 2011
Things That Go Boom: Texas Population
Real Estate Center economists have been saying it for the past few years, and now the latest census data are supporting it: Texas is on the verge of a population boom.
"Today, one out of 12 Americans lives in Texas — the same proportion that lived in New York City in 1930," wrote Michael Barone recently in the Wall Street Journal.
"Metropolitan Dallas and metropolitan Houston, with about six million people each, threaten to overtake our fourth-largest metro area, San Francisco Bay (population about seven million), in the next decade," he said.
Barone, a resident fellow at the American Enterprise Institute, was comparing census data from the past eight decades.
According to the San Antonio Express-News, initial census numbers last month were necessary so states could know how many congressional districts they would have. Texas picked up four additional districts.
Look for more 2010 census data to be released as the year progresses.
"Today, one out of 12 Americans lives in Texas — the same proportion that lived in New York City in 1930," wrote Michael Barone recently in the Wall Street Journal.
"Metropolitan Dallas and metropolitan Houston, with about six million people each, threaten to overtake our fourth-largest metro area, San Francisco Bay (population about seven million), in the next decade," he said.
Barone, a resident fellow at the American Enterprise Institute, was comparing census data from the past eight decades.
According to the San Antonio Express-News, initial census numbers last month were necessary so states could know how many congressional districts they would have. Texas picked up four additional districts.
Look for more 2010 census data to be released as the year progresses.
Monday, January 24, 2011
Saturday, January 15, 2011
Monday, January 10, 2011
Wednesday, January 5, 2011
Chamber, Austin to be Featured on CBS Evening News with Katie Couric
In 2010 Austin topped some incredible national charts with rankings like the Brookings Institutes "Highest Ranked Recovery," Newsweek's "Top 10 Recovery Cities," CNN Money's "Recession Proof Cities," and Kiplinger's "#1 City of the Next Decade."
As a result, the CBS Evening News with Katie Couric will feature the Chamber's Dave Porter, SVP of Economic Development and a few of our 2010 success stories on this Friday's (Jan 7th) program. Featured will be the $3.6 billion expansion of Samsung Austin Semiconductor and the corporate relocation of SunPower Corporation
Tuesday, January 4, 2011
Texas Leads The Way In Recovery
COLLEGE STATION (Real Estate Center) – The Texas economy continues to outperform the U.S. economy in the current recovery, according to the Real Estate Center's latest monthly economic review.
The state’s economy gained 194,400 jobs from November 2009 to November 2010, an annual growth rate of 1.9 percent, compared with the nation’s 842,000 jobs, an annual growth rate of 0.6 percent.
Texas’ private sector continues to play a key role in job creation. The state’s private sector posted an annual employment growth rate of 2.2 percent compared with 1 percent for the U.S. private sector from November 2009 to November 2010.
The state’s seasonally adjusted unemployment rate was 8.2 percent in November 2010, the same as in November 2009, while the nation’s rate decreased from 10.0 to 9.3 percent over the same period.
All Texas industries except the trade and information industries had more jobs in November 2010 than in November 2009. The state’s mining and logging industry ranked first in job creation followed by professional and business services, education and health services and manufacturing.
All Texas metro areas had more jobs in November 2010 than in November 2009. McAllen-Edinburg-Mission ranked first in job creation followed by Brownsville-Harlingen and Austin-Round Rock-San Marcos.
The state’s actual unemployment rate in November 2010 was 8.3 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, College Station-Bryan and Abilene.
Monday, January 3, 2011
Homestead Exemption, don't forget!
If you purchased your home in 2010 and you live in Travis or Williamson County, it's time to file your Homestead Exemption, if you haven't already done so.
You can file your exemption between January 1 and April 30 in order to receive your homestead property tax reduction for your 2010 taxes, which are due in 2011. The exemption only has to be filed once; not annually.
For Travis and Williamson counties, these forms can be found online at:
Travis County:
Williamson County:
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