Austin Home Prices Rise 6.5%

Did you know that approximately 151 people are moving into the Austin/Round
Rock area every day? I just picked up this tidbit of information recently as
I read about a new development moving forward in South Austin
.

Our little city is popular. Just recently Forbes published an article claiming Austin as the BEST BIG
city
for jobs. Funny, I have never thought of Austin as a big city, but if
Forbes says we are, I guess we are. Forbes's methodology was based on recent
growth trends, mid-term growth, long-term growth and the region's momentum.
The Apple hit on Austin was pretty sweet but I don't think it was JUST the
abatement incentives our City Council offered that sealed the deal -- I
think the talent that is associated with the TECH world helped and the Tech
cultures LOVE of the Austin Attitude which is young, smart, casual, musical,
athletic and yes, WEIRD. By the way, two Austin start ups hit Entrepreneur
's Brilliant List.

What does this have to do with Real Estate here? A bunch. Home prices rose
6.5%
from the same
time last year. The median price for Austin-area homes is $212,000, or 9%
more than the same month of the prior year. And for the 12th straight month
in a row, home sales have increased. Many of our newbie citizens are having a hard time finding a place to live
as inventory is below the demand in many areas. Some newcomers want to rent
but the rental availability is low and the rates are increasing. Apartment
occupancies are at 98%. Calls come in every day from renters, once
comfortable in their leases -- which are looking to move because their
landlord is raising their rent. Tenants are forced to move out further and
settle for less home or amenities. Many of those renters are now choosing to
purchase. Watch for growing pains - we're sure to have some but Austin remains a great
place to live, work and play, not to mention one heck of an investment. I am
ready to go to work for you and am available by phone (512) 917-5260, text
or email. Wishing you all the best,

Anne

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Anne Edwards Johnson

Realtor

512-917-5260 CELL

RE/MAX AUSTIN SKYLINE

4611 Bee Caves Rd., Ste. 200

Austin, Texas 78746

512-328-5151 Ext. 511

512-328-0404 Fax

anne@hookemhomes.com

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Posted via email from annejohnson's posterous

Why Austin, Tex., Is a Good Place for Small Businesses

Branded by M.P. Mueller

Why Austin, Tex., Is a Good Place for Small Businesses

Recently, Austin was ranked No. 1 in "small-business vitality" for the
second year in a row in a survey by the American City Business Journals.

Texas's capital city scored high points for its quality of life, business
environment and healthy residents. Last July, Kiplinger named Austin one of
the "10 Best Cities for the Next Decade." Yes, it's true that most of the
rest of Texas thinks of Austin as that place full of crazy liberals, but
we'll take that (we don't understand why they insist on starching their
jeans).

Keeping you informed, ready to help you with all of your real estate needs
and wishing you all the best, Anne

ANNE JOHNSON-CHEVERERE

Realtor(r)

512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax

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HookemHomes.com

RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com Google

The finest compliment I can ever receive is your referral. Please remember
me when your friends, family, and co-workers are thinking about buying or
selling residential and investment real estate.

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Posted via email from annejohnson's posterous

Austin Housing Market Hits Bottom in 4Q 2010

This article confirms what I am personally experiencing in representing
buyers and sellers in Central Texas. This information is encouraging for
sellers and slightly painful for buyers.

Austin home prices expected to rise

Austin Business Journal - by Cody Lyon, Staff Writer
Date: Tuesday, May 10, 2011, 8:38am CDT Austin home prices are expected to begin recovering this year and grow by at
least 0.6 percent, according to an analysis from Fiserv Inc.

The Brookfield, Wis.-based financial services firm reported the average home
price in Austin falling 0.7 percent year-over-year in the fourth quarter
last year. The Fiserv Case-Shiller home price indexes are based on data and
methodologies from Fiserv and Moody's Analytics.

According to the report released on Monday, Austin home prices have been
stable since reaching bottom in the fourth quarter 2010. Fiserv said it
expects the price to increase through 2012, albeit slowly, at a rate of
about 0.4 percent.

Meanwhile, the report projects the rest of the country won't stabilize until
the third quarter 2011. Before that happens, Fiserv expects another 3
percent drop in prices throughout the first half of this year. But, by the
end of 2012, the report said home prices even in some of the hardest hit
housing markets will level out.

Fiserv Chief Economist David Stiff said "the first step toward restoring
confidence in the housing markets is an improvement in consumer sentiment,
which we expect will increase slowly through 2011 due to stronger gains and
a falling unemployment rate."

Compared to pre-recession levels, the average national home price fell 23.6
percent from the fourth quarter of 2007 to the same period in 2010. Prices
in Austin increased 1.1 percent during that same period.

Keeping you informed, ready to help you with all of your real estate needs
and wishing you the best, Anne

ANNE JOHNSON-CHEVERERE

Realtor(r)

512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax

Follow me on

LinkedIn Twitter

Facebook
HookemHomes.com

RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com Google

The finest compliment I can ever receive is your referral. Please remember
me when your friends, family, and co-workers are thinking about buying or
selling residential and investment real estate.

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Austin ranks high for, well, just about everything

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Confidence in value of homeownership persists through bust, survey shows

Confidence in value of homeownership persists through bust, survey shows

Commercial and multifamily mortgage originations grew 88% in the fourth quarter of 2010 when compared to 4Q 2009

This article from Housing Wire quoting from the Mortgage Bankers Association Fourth Quarter Commercial Real Estate-Multifamily Finance Quarterly Report  

·         Commercial and multifamily mortgage originations grew 88% in the fourth quarter of 2010 when compared to 4Q 2009 

·         Loans for conduits for CMBS (commercial backed mortgage securities) saw a 60-fold increase compared to last year’s fourth quarter

·         There was also a 170% increase in loans for life insurance companies, a 65 percent increase for Government Sponsored Enterprises (or GSEs – Fannie Mae and Freddie Mac), and loans originated for commercial bank portfolios saw a decrease of 25 percent

·         A 6,000 percent increase in origination for CMBS (not an April Fools joke). The MBA report said. "After being nearly dormant for the previous two-and-a-half years, more than $6 billion of CMBS was issued in the fourth quarter."

Austin Is An Opportunity

I ran across an article on Yahoo News Where The Richest People Live by Vanessa Wong, who based her article on information from Andrew Schiller, founder and chief executive of NeighborhoodScout.com   I really was not interested in where the richest people lived in this country but as I scanned the article I noticed Houston and Austin were mentioned.  River Oaks in Houston holds the title for the most expensive homes in Texas and then he mentions little ole Austin, which holds many titles, but not for the most expensive homes. Schiller notes that Austin real estate could have those high price tags. This information combined with all the TITLES (Green, Young, Jobs, etc.) Austin does hold -- should continue to fuel the city’s growth. 

 

Excerpts from the article:

“Size and style can determine much of a home's value, but other factors can weigh more heavily. Within a single city, the prices of similar homes can display huge differences depending on the area -- and even the street -- in which they are located. The two key drivers of value are access to work opportunities and access to amenities, says Andrew Schiller, founder and chief executive of NeighborhoodScout.com. A few streets' distance can make a difference in perceived proximity to school districts, recreational amenities, and transportation routes.”

“Exclusive communities migrate over the years as opportunities shift to new places. Beverly Hills did not develop until movie stars began moving there in the early 1900s, according to the city's website. While the most expensive place in Texas is currently the Afton Oaks-River Oaks section of Houston, whose median home value is about $1.7 million, Schiller predicts that prices in Austin will rise as government activity, job growth, and the University of Texas attract more home buyers to the area.”

“Neighborhoods near Austin and other emerging cities may not be expensive now, but the right combination of amenities and job opportunities might one day push them to the top of the price ladder.”