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What’s Your Home Worth?

www.Recent-Home-Sales.com

Local Home Listings:

www.CentralTexasHomeSearch.com

Foreclosure Search:

www.CentralTexasForeclosure.com

Market News:

www.AustinMarketInfo.com

Monthly Market Data:

www.AustinMarketDashboard.com

My Thoughts and Comments:

www.BillMorrisRealtor.com

@TheChamber, 02/08/10

Central Texas Economy In Perspective
 By Beverly Kerr, Chamber Vice President of Research 

"A new update to the Texas Index of Leading Indicators—data through December went up on the Federal Reserve Bank of Dallas last week—again indicates improvement is underway in the state’s economy."  More:  http://app.e2ma.net/campaign/26685.ac03238f0e1ca401303f26fafaae766e

Texas Real Estate.com -- Texas Quarterly Housing Report, 02/01/10

Sales volume, price up in 2009-Q4 

“Texas’ sales volume for single-family homes for 2009-Q4 was 53,050, up 16% from the same quarter of 2008. The median home price in Texas also saw increases, from $140,100 in 2008-Q4 to $143,400 in the same quarter of 2009, a 2.35% increase.”  More:  http://texasrealestate.com/web/2/25/index.cfm

Austin American-Statesman, 01/29/10

LegalZoom eyes Austin 

“LegalZoom, a Los Angeles-based online legal services company, proposes creating a regional headquarters in Austin and 600 jobs over the next five years, according to City of Austin documents.”  More:  http://www.statesman.com/business/legalzoom-eyes-austin-201132.html

Austin American-Statesman, 01/29/10

Water park deal wins approval 

"CEDAR PARK — The City Council late Thursday unanimously approved two measures that will bring a $360 million water park resort to the fast-growing suburban community northwest of Austin."  More:  http://www.statesman.com/news/local/some-residents-speak-out-against-cedar-park-water-201267.html.  [updated after print publication]

Austin American-Statesman, 01/29/10

As H-E-B expands in Central Texas, downtown is on its wish list 

“Home prices and consumer confidence in the U.S. climbed further from the depths of the recession, indicating the economy is taking more steps toward recovery.”  More:  http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQLQvEsy8.Ak

Austin American-Statesman, 01/27/10

Chase Tower downtown sold to Dallas firm 

"Spire Realty Group is the new owner of the 35-year-old Chase Tower in downtown Austin, the first major office acquisition in Central Texas in more than a year. Dallas-based Spire said it is planning more large office acquisitions, including in Austin, over the next two years ….  ‘We like Austin. We want to be in Austin, and we plan on being there a while’"  More:  http://www.statesman.com/business/real-estate/chase-tower-downtown-sold-to-dallas-firm-197100.html

Bloomberg News, 01/26/10

U.S. Economy: Home Prices, Confidence Climb Further 

“Home prices and consumer confidence in the U.S. climbed further from the depths of the recession, indicating the economy is taking more steps toward recovery.”  More:  http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQLQvEsy8.Ak

Austin American-Statesman, 1/23/10

Austin unemployment rate held steady last month

“There are early signs of a possible jobs recovery. Several local technology companies, including Virtual Bridges Inc., Spiceworks and Gowalla , recently announced plans to add jobs in coming months ….  In addition, Starwood Hotels & Resorts is holding job fairs next week for 150 positions at the Westin Austin at the Domain , which will open in April. The fairs will be held at the hotel ….  CarMax is also hiring for a variety of positions, including sales and service, at its two Austin dealerships.”  More:   http://www.statesman.com/business/austin-unemployment-rate-held-steady-last-month-191898.html

Austin American-Statesman, 01/22/10

Job hunting? Your odds are about to go up, economists say 

“Buoyed by continued population growth, the Austin metro area will add more than 26,000 jobs over the next two years, economist Angelos Angelou said Thursday.”  More:  http://www.statesman.com/business/employment/job-hunting-your-odds-are-about-to-go-190398.html

Austin American-Statesman, 01/21/10

Experts see rebound brewing in region's home sales after slow 2009 

"The metro area is already in recovery, according to Moody's Economy.com," [Ed Friedman of Moody’s Economy.com] said, noting that employment in Austin "basically bottomed out in June, much earlier than nationally" and has been rising in recent months. "As a result, the local housing market will continue to enjoy moderate gains in both sales and prices over 2010. By 2011, as credit conditions improve materially, more substantial recovery will emerge."  More:  http://www.statesman.com/business/real-estate/experts-see-rebound-brewing-in-region-s-home-188306.html

Austin American-Statesman, 01/21/10

Home construction falls; wholesale prices edge up 

“Construction of new homes and apartments fell 4 percent in December to a seasonally adjusted annual rate of 557,000 from an upwardly revised 580,000 in November, the U.S. Department of Commerce reported.  Applications for future projects, however, increased as the industry began to ramp up for the spring selling season.”  More:  http://www.statesman.com/business/home-construction-falls-wholesale-prices-edge-up-188105.html

Austin American-Statesman, 1/19/10

Texas could see early exit from recession, economist says

“The Lone Star State proved resilient because of advantages such as weather, stable home prices and a political climate favorable for companies seeking new places to do business, said Ray Perryman, head of the Perryman Group and a longtime Texas economist.”  More: http://www.statesman.com/business/texas-could-see-early-exit-from-recession-economist-184696.html

Austin Business Journal, 01/18/10

Austin home prices still falling

“Austin area home prices continue to fall late last year, despite more positive sales movement, according to a home price index today.”  More:  http://austin.bizjournals.com/austin/stories/2010/01/18/daily51.html

Austin American-Statesman, 01/17/09

U.S. housing bust slows job growth, puts brakes on worker mobility

“Some households are staying put because they owe more on their mortgages than their properties are worth; others have trouble selling houses in depressed areas, economists say. The S&P/Case-Shiller composite index of home prices in 20 U.S. metropolitan areas was down 29 percent in October from its July 2006 peak. Effects of the housing market crisis have been less severe in Central Texas, with year-to-year price drops limited to single-digit percentages.”  More:  http://www.statesman.com/opinion/insight/housing-bust-slows-mobility-job-growth-182117.html

Austin American-Statesman, 01/13/10

Outlook for Austin brightening in 2010, local experts say

“This year could mark the start of a rebound for Austin's housing market and overall economy.  That's the consensus from speakers at a 2010 housing and economic forecast event Wednesday sponsored by the Austin Board of Realtors and the Home Builders Association of Greater Austin.”  More:  http://www.statesman.com/business/outlook-for-austin-brightening-in-2010-local-experts-178057.html

Austin Business Journal, 01/12/10

Hanger Orthopedics confirms move to Austin

“The relocation is expected sometime in the third quarter this year. The company is offering all 130 headquarters employees the opportunity to move with the company if they choose.”  More:  http://austin.bizjournals.com/austin/stories/2010/01/11/daily19.html

Austin Business Journal, 01/12/10

Westin and W hotels to hire 436 in Austin

“A Starwood spokesperson said the 340-room, 10-story [Westin] hotel will open sometime this March.  The W will hire the bulk of the new workers, about 286, but will not open until December or early 2011, officials said.  ”  More:  http://austin.bizjournals.com/austin/stories/2010/01/11/daily21.html

Austin American-Statesman, 01/12/09

Hill Country Galleria set to get new owner

“The mall, which has 65 stores, opened in October 2007, just two months before the national recession began. The developers got off to a slow start filling the storefronts and struggled to find tenants for the 144,000 square feet of office space above the stores.”  More:  http://www.statesman.com/business/hill-country-galleria-set-to-get-new-owner-174213.html

Austin American-Statesman, 01/11/10

Buyers drawn to district for quality of schools, quiet neighborhoods

“According to the Austin Board of Realtors, in 2009, 402 homes priced for less than $10 million sold in the Eanes school district — the most expensive one selling for $4,037,500. In 2008, 404 homes priced for less than $10 million sold. That's 25 percent less than the 542 sold in 2007 and 34 percent less than the 608 homes sold in 2006.  That doesn't sound good, but compare those statistics to homes in the Austin Independent School District.”  More:  http://www.statesman.com/business/real-estate/buyers-drawn-to-district-for-quality-of-schools-170764.html

Austin American-Statesman, 01/07/10

Local apartment market shows signs of strength

“From June to December, 4,088 new apartment units opened in the Austin area, and Heimsath had expected the occupancy rate to slide as a result. But "we actually leased more units than we delivered," he said.”  More:  http://www.statesman.com/business/real-estate/local-apartment-market-shows-signs-of-strength-166296.html

Austin American Statesman, 01/05/10

Area housing market poised for rebound, firm says

“A bottom is in sight for Central Texas' new-home market, with a slow recovery expected this year, according to Residential Strategies Inc., which tracks the housing market.”  More:  http://www.statesman.com/business/real-estate/area-housing-market-poised-for-rebound-firm-says-162474.html

Austin Business Journal, 01/04/10

Austin ranked best city to invest in commercial real

“In a ranking of the top 10 markets for long-term office, industrial, retail and multi-housing investment potential, Austin was listed No. 1. Houston was the only other Texas city to make the list, taking the sixth spot.”  More:  http://austin.bizjournals.com/austin/stories/2010/01/04/daily7.html

Austin American-Statesman, 12/23/09

Recession adds more new Texans

“Texas gained more residents than any other U.S. state as the recession deepened in 2008 and early this year, the Census Bureau said in a report that indicated job seekers migrated to one of the nation's stronger labor markets.”  More:  http://www.statesman.com/news/texas/recession-adds-more-new-texans-144935.html

Austin Business Journal, 12/23/09

Joint venture commences North Austin planned community

“A North Austin planned community will soon turn dirt on residential lots ….  [Investor Richard] Kunz said he is currently negotiating with six local and national home builders for construction of the single-family homes. The 50-foot home sites will run in the high 100’s to high 200’s.”  More:  http://austin.bizjournals.com/austin/stories/2009/12/21/daily28.html

Austin American-Statesman, 12/21/09 (updated online 12/22/09)

Austin-area home sales jump 58% in November

“… local experts don't expect those big percentage gains to continue. Sales could slow next year, they said, anticipating rising mortgage interest rates and the end of the tax credit ….”  More:  http://www.statesman.com/business/real-estate/austin-area-home-sales-jump-58-in-november-139432.html

Weak economy caps inflation as housing starts rise

BankRate.com, 12/16/09

Mortgage rates and refinances are up

"Mortgage rates rose this week, and homeowners rushed to refinance. The pattern is familiar: People wait on the sidelines while mortgage rates are falling. Then, when rates finally hit bottom and bounce back up, homeowners apply to refinance mortgages.”  More:  http://www.bankrate.com/finance/mortgages/mortgage-rates-and-refinances-are-up.aspx

RIS Media. 12/15/09

5 Questions to Consider Before Purchasing a Home

“Interest rates on the benchmark 30-year, fixed-rate mortgage dipped to a 38-year low recently.  The 5 following questions may help you decide if now is the time to go ahead and purchase a home or refinance your current home.”  More:  http://rismedia.com/2009-12-14/5-questions-to-consider-before-purchasing-a-home/#more-42628

@theChamber

Central Texas Economy In Perspective

"One of last week’s national economy articles in the Austin American-Statesman focused on the surge in temporary-help worker hiring as a harbinger of coming improvement in the larger job market. The article highlighted the upswing in national numbers along with on anecdotal accounts from staffing agencies. Temporary workers offer employers flexibility in the face of changes in the business cycle and therefore changes in the sector signal the growth or contraction coming in the larger job market.”  More:  http://app.e2ma.net/campaign/26685.31c4dca69c26606be188fd9c4b43496f

Austin American-Statesman, 12/10/09

City to consider expanding rules restricting home sizes

"When the Austin City Council decided in 2006 to limit the sizes of new or renovated houses in the central city, council members said they wanted to preserve the character of older neighborhoods.  Now, residents of some South Austin neighborhoods say their communities have character worth saving, too.  More: http://www.statesman.com/news/content/news/stories/local/2009/12/10/1210homes.html

RIS Media, 12/10/09

U.S. Foreclosure Activity Decreases 8% in November 2009 According to RealtyTrac U.S. Foreclosure Market Report

"Default notices nationwide were down 8% from the previous month but still up 22% from November 2008, scheduled foreclosure auctions were down 12% from the previous month but still up 32% from November 2008, and bank repossessions were flat from the previous month and down 2% from November 2008.  More: http://rismedia.com/2009-12-10/u-s-foreclosure-activity-decreases-8-in-november-2009-according-to-realtytrac-u-s-foreclosure-market-report/#ixzz0ZJHe8NMr

Austin American-Statesman, 12/6/09

Banks warming up to short sales to reduce foreclosures

"They don't agree to do it because you're upside down," Schlosser said. "If they think you can pay for it, they're not going to let you out of it."  More:  http://www.statesman.com/business/content/business/stories/other/2009/12/06/1206shortsales.html

Austin American-Statesman, 12/4/09

Rate on 30-year mortgage falls to record low on Fed spending

The Federal Reserve is pumping $1.25 trillion into mortgage-backed securities to try to bring down mortgage rates, but that money is set to run out next spring.  More:  http://www.statesman.com/search/content/business/stories/other/2009/12/04/1204bizbriefs.html

The Greater Austin Chamber of Commerce

Central Texas Economy In Perspective

“Austin’s existing home sales data through October presents marked evidence of improvement according to numbers from the Austin Board of Realtors and the Real Estate Center at Texas A&M. October’s nearly 2,000 sales total is 38.0% above the number of homes sold in October 2007.”  More:  http://app.e2ma.net/campaign/26685.e51cb1bd691334ab2e50f807b0c4d99e

Austin American-Statesman, 12/2/09

Repeat postings inflate foreclosure listings

“It appears that the lenders just keep reposting these homes for foreclosure until the loan modification review has been concluded.”  More:  http://www.statesman.com/search/content/business/stories/realestate/2009/12/02/1202foreclose.html

Realtor.org (NAR), 12/1/09

Nine Consecutive Gains for Pending Home Sales

“Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors® ….  [A]s inventories continue to decline and balance is gradually restored between buyers and sellers, we should reach self-sustaining housing conditions and firming home prices in most areas around the middle of 2010. That would mean broad wealth stabilization for the vast number of middle-class families.”  More:  http://www.realtor.org/press_room/news_releases/2009/12/nine_sales

Austin American-Statesman, 12/1/09

U.S. increases pressure on mortgage industry

"Treasury Department officials said Monday that they will increase pressure on the 71 companies participating in the government's $75 billion effort to stem the foreclosure crisis. The agency will start this week by sending three-person "SWAT teams" to monitor the eight largest companies' work and requesting twice-daily reports on their progress."  More:  http://www.statesman.com/search/content/business/stories/other/2009/12/01/1201mortgagerelief.html

RIS Media, 12/1/09

Are You a Victim of Predatory Lending?

“If you got a loan in the last few years, it was probably packaged with a pool of other mortgages and sold off to an investor seeking a long term revenue stream.”  More: http://rismedia.com/2009-11-30/are-you-a-victim-of-predatory-lending/#ixzz0YP16HaPY

RealEstate.Yahoo.com (from Forbes article), November 24, 2009

America's Fastest-Recovering Cities

“[Texas] housing prices never ascended to the unsustainable levels the rest of the country hit at the peak of the housing bubble. Thus, it didn't crash as hard. These factors have toughened the local economy against a recession that is inextricably tied to real estate.”  More:  http://realestate.yahoo.com/promo/americas-fastest-recovering-cities.html

Austin American-Statesman, November 29, 2009

Austin weighs joining cities making density deals with developers

On Dec. 17, the Austin City Council is scheduled to vote on proposals for a voluntary program under which downtown developers would be rewarded with extra space or height for their projects if they provide certain community benefits, such as affordable housing, child care services or cultural spaces.  More:  http://www.statesman.com/news/content/business/stories/realestate/2009/11/29/1129density.html

RIS Media, November 25, 2009

House Prices Increase Slightly in Third Quarter 2009; First Quarterly Increase since Second Quarter 2007.

U.S. house prices rose modestly in the third quarter of 2009 according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted purchase-only house price index (HPI).  More: http://rismedia.com/2009-11-24/house-prices-increase-slightly-in-third-quarter-2009-first-quarterly-increase-since-second-quarter-2007/#ixzz0XvD5VvO0

Dallas Morning News, 11/21/09

Texas gains jobs even as unemployment rate still rises to 8.3%

“Employers boosted payrolls by a preliminary count of 41,700 jobs last month – a significant piece of good economic news after a year of nearly uninterrupted monthly job losses.  But the unemployment rate edged up to 8.3 percent from 8.2 percent in September, the Texas Workforce Commission said Friday.”   More:  http://www.dallasnews.com/sharedcontent/dws/bus/stories/DN-TxJobs_21bus.ART.State.Edition2.4bb67da.html

Austin Business Journal, 11/20/09

Austin unemployment at 7.2% in October

“Unemployment in the Austin area held steady in October at 7.2 percent, the same as in September but up from 4.6 in October 2008.”   More:  http://austin.bizjournals.com/austin/stories/2009/11/16/daily28.html

Texas Workforce Commission, 11/20/09

Texas Adds 41,700 Jobs in October

“Total nonagricultural employment in Texas increased by 41,700 positions in October with significant increases in Professional and Business Services and Education and Health Services.”  More:  http://www.twc.state.tx.us/news/press/2009/112009epress.pdf

Austin Business Journal, November 20, 2009

Proposal ruffles builders

The new rule will instead mandate testing for every single- or two-family unit by outside contractors.  More:  http://austin.bizjournals.com/austin/stories/2009/11/23/story3.html?b=1258952400^2478101

Austin American-Statesman, November 19, 2009

Austin home sales jump 38 percent in October

Tax credit for buyers, low mortgage rates lead to biggest surge in 4 years.  More: 

http://www.statesman.com/business/content/business/stories/realestate/2009/11/19/1119homesales.html

RISMEDIA, 11/18/09

Housing and Economy Headed for Sustainable Recovery; First-Time Homebuyers Lead the Way

“Aided by the home buyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, according to the National Association of Realtors®.”  More:  http://rismedia.com/2009-11-17/housing-and-economy-headed-for-sustainable-recovery-first-time-homebuyers-lead-the-way/#ixzz0XARQUpRh

Austin Business Journal, 11/13/09

City may stiffen tree-cutting rules

“The Real Estate Council of Austin is concerned that the city’s proposed Heritage Tree Ordinance is becoming an increasingly polarizing issue between developers and environmentalists.”  More:  http://austin.bizjournals.com/austin/stories/2009/11/16/story6.html?b=1258347600^2432871

Austin Business Journal, 11/13/09

Area foreclosure postings hit record high

“This is the highest that I have seen since Foreclosure Listing Service began tracking foreclosure activity here in 2001, and it very well could be the highest ever,” said George Roddy Sr., president of Foreclosure Listing Service.”   More:  http://austin.bizjournals.com/austin/stories/2009/11/09/daily35.html

Austin Business Journal, 11/12/09

RealtyTrac: Texas foreclosures down 10 percent in October

“California, Florida, Illinois and Michigan accounted for 52 percent of the nation’s total foreclosure activity during the month.”  More:  http://austin.bizjournals.com/austin/stories/2009/11/09/daily25.html

Austin American-Statesman, 11/12/09

Report: 10 states face looming budget disasters

Texas is not on this list.  Article:  http://www.statesman.com/search/content/shared-gen/ap/Finance_General/US_State_Budgets.html

Austin Business Journal, 11/11/09

Austin area tops city performance index

“The Austin-Round Rock area was named the best performing city on the 2009 Milken Institute/Greenstreet Real Estate Partners Best Performing Cities Index.”  More:  http://austin.bizjournals.com/austin/stories/2009/11/09/daily15.html