Blue Skies Here | Central Texas: January 2009

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January 30, 2009

Austin Primed for Foreign Investment Opps

From the Austin Business Journal:

Despite increasing global real estate turmoil, Texas remains an attractive play for foreign investors looking for opportunities in the United States, a report shows.

The Association of Foreign Investors in Real Estate ranks members’ top cities for U.S. and global investment in 2009. Houston ranked fifth, while Austin ranked 11th, tying with Las Vegas, Phoenix, Orlando, Atlanta, San Diego and San Jose, Calif.

Washington D.C. claimed the first spot.

The United States ranked first among nations in terms of opportunities for capital appreciation.

Conducted in fourth quarter 2008, the survey polled the association’s members who collectively hold about $1 trillion in real estate worldwide.

Posted at 01:29 PM in Central Texas Business News | Permalink | Comments (0) | TrackBack (0)

January 22, 2009

Austin Real Estate Market Retains Value

The Austin Board of Realtors yesterday released year-end data regarding the health of the market. Not surprisingly, the number of transactions were down -- 21% from December 2007 to December 2008. That said, prices remained relatively stable across the board with only a 4% decrease.

The same held true in Williamson County as well -- home values on average dropped about 4% -- but the transaction levels were close to those seen in 2001.

None of this was surprising. We continue to ride the wave of bad news -- and no matter how much better off we are in Central Texas, we are not completely beyond the bad economic climate.

In my opinion I'd rather have the facts than guess at what my situation is -- so if you really want to know what your home is worth or what a home you are considering buying is worth in today's market -- ask someone you trust. If it's not me, then contact another real estate professional you've worked with or know to give you the facts.

I've said this before, but it's worth repeating -- when the national news outlets say that the US housing market is in a spiral, it's like saying the average temperature in the US yesterday was 50 degrees. Real estate markets are local, and neighborhood by neighborhood they change. Sometimes daily.

Posted at 01:49 PM in Real Estate News | Permalink | Comments (0) | TrackBack (0)

Relocation Tax Deductions

I recently received this from a colleague at Central Transportation Systems. Great information if you've relocated this past year and are looking for IRS mileage deduction rates. Here you go:

From January 1 – June 30^th 2008 the mileage deduction rates were…

Business 50.5

Charitable 14

Medical and Moving 19

From July 1 – December 31^st 2008 the mileage deduction rates were….

Business 58.5

Charitable 14

Medical and Moving 27

If you would like more specific information, please visit the IRS website…www.irs.gov.

Posted at 01:36 PM in Real Estate News | Permalink | Comments (0) | TrackBack (0)

January 13, 2009

Serenada Statistics: 12/1/08 - 1/1/09

Here are the numbers for the last month for Serenada. Feel free to contact me if you'd like specific information about your home or a property you're interested in...

Serenada East

Active Listings: 5 available, Average price - $190,540, Average price per square foot - $94.99, Average days on market - 135
Pending Sale: 0
Sold: 1 property (unable to provide averages; for specific comparable information please contact me directly)

Serenada West/Country Estates

Active Listings: 4 available, Average price - $233,725, Average price per square foot - $96.66, Average days on market - 57
Pending Sale: 1 property
Sold: 2 properties, Average list price - $214,500, Average sale price - $193,500, Average price per square foot - $89.10, Average days on market - 28

Posted at 11:49 AM in Serenada | Permalink | Comments (0) | TrackBack (0)

January 08, 2009

BUYERS or RE-FI: 4.2% on 15-year; ~4.3% for 30-year

Okay folks, these rates are LOOOOWWWW. If you are thinking about buyer or refinancing, there are great rates to be had. My contact at WR Starkey, Janet Widmer, just told me that she's doing loans at ~4.2% for 15-year and ~4.3% for a 30-year.

Pair that with a super slow holiday season -- and there are deals to be had out there. Call (512.930.8722 or 512.439.3696) or email me (klombar@kw.com) if you want to know about my top pics for properties or to get information on refinancing.

Posted at 01:05 PM | Permalink | Comments (0) | TrackBack (0)

What's it Worth Wednesday

I've mentioned before that each Wednesday we provide data on a few Central Texas neighborhoods. I thought for those of you who haven't subscribed to the email, that I'd put some of the data on my blog as well.

Once again, it’s worth noting that legally I can only broadcast averages, so your home may be worth more or less than these numbers below. That said, the information will give you an idea of broad data. Want to see your neighborhood? Drop us a line, and we'll make it happen.

You can also visit What's This Home Worth for a no-strings-attached CMA.

Sales from 11/8/08 to 1/7/09.