Austin Real Estate Investment News

Thursday, March 19, 2009, 3:29pm CDT  |  Modified: Thursday, March 19,...

Dallas Fed report: Recession has landed full force in Texas By American-Statesman staff | Monday, March 16, 2009, 10:39 AM Texas’ economy started losing steam in late 2008, and now has joined the rest of the country in a full-blown recession, according to a new report from the Dallas Federal Reserve. The state was, fortunately, late to the party: The national recession started in December 2007. It took another six months before Texas’ economy began to slow down, the report said. Key indicators, including job growth, exports, and various manufacturing indexes all fell in the second half of the year, the report said. Among...

Central Texas Investment Property Update - February 18, 2009 Feb 18th - The high drama in the nation's political and financial arenas continues to prove that truth is definitely more interesting than fiction. Barack Obama's administration released their housing plan today, and we are pleased to see the new $8,000 homebuyer tax credit (as opposed to a deduction, this is like money in the pocket). Combined with today's historically low interest rates, we feel the market will "tip" soon, and we'll see a wave of new buyers, a reduction of inventory, and a resumption...

This is great news for investors and for the US real estate market. Quality investors have been made to sit on the sidelines for several months now due to the limitation of 4 properties owned by any single investor. Here is the announcement:"Fannie Mae is committed to providing financing opportunities for high-redit quality, bona fide investors.  Experienced investors play a key role in the housing recovery and Fannie Mae's continued support for investor borrowers is consistent with its mission to provide stability, liquidity, and affordability to the nation's housing system."  Fannie Mae's criteria: Credit Score of...

The '09 outlook from our favorite Texas real estate publication - high level of accessible academic information. Please click here: http://recenter.tamu.edu/pdf/1891.pdf...

  Wall Street Journal, REAL ESTATE JANUARY 9, 2009 Fannie Mae Tests 'Short Sales' as Alternative to Foreclosures y NICK TIMIRAOS Fannie Mae is testing a new program to stave off foreclosures by preapproving "short sales" of homes, in which mortgage companies allow homeowners to sell houses for less than the value of existing loans, forgiving the difference. As the number of homeowners in default on their mortgages began to rise several years ago, real-estate agents started touting short sales as a way for troubled borrowers to sell their homes quickly to potential buyers looking for bargains. Real-estate agents reasoned that banks and...

December 31, 2008 What's In, What's Out with Home Buyers in 2009?by Mark NashWhat's IN Sidelined home buyers. Family or lifestyle additions or changes made in buyers households in the last three years are forcing those waiting out the market transition to finally get off the fence and say, it's time for our family to buy the new home that suits our new needs. Home uplifts. Not a big renovation, but some new finishes that can visually holdover stay-put home sellers. Not a gut rehab to the studs new kitchen,...

It appears that Summit Accomodators (with a branch in Austin) has declared Chapter 11. This firm has been Austin's most recognizable name in 1031 Exchanges, and we've used them for years. Though none of our clients was involved in an Exchange at this time, we have heard some reports that clients in other states have had their exchange funds frozen. Their website offers some details. We'll monitor the situation and update on this blog. ...

Existing Home Sales Dive 40% in November Outlook for 2009 not good; Austin doing better than some markets. By M.B. TaboadaAMERICAN-STATESMAN STAFFFriday, December 19, 2008 Sales of existing homes in Central Texas plunged 40 percent last month, the largest decline on record, as the recession and credit crunch arrived full force in Austin. The 990 sales were the lowest number for November since 1997, according to the Austin Board of Realtors. And the median price fell 3 percent, the first drop in four years. Real estate experts don't expect next year to be any better. Consumer confidence has...

Home Buyers Turn to USDA for Mortgages Agency Program Backs Loans to Aid Rural Development; No Money Down -- Even Now By NICK TIMIRAOS Tightened lending standards are leaving builders and real-estate agents scrambling for new ways to move cash-strapped buyers into homes. One increasingly popular option: an obscure home-loan program offered by the U.S. Department of Agriculture. View Full Image Coke Whitworth/Aurora Select for The Wall Street Journal Erick Moore used a no-money-down USDA-backed loan to...