ALSO VISIT:

What’s Your Home Worth?

www.Recent-Home-Sales.com

Distressed?  Avoid Foreclosure:

www.CentralTexasShortSale.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

RISMedia, 09/03/10

Exceeding Expectations, Pending Home Sales Rise 5.2%

“Following a sharp drop in the months immediately after the expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors.”  More:  http://rismedia.com/2010-09-02/exceeding-expectations-pending-home-sales-rise-5-2/

New York Times (via Yahoo! Finance), 09/02/10

In Defense of Home Ownership

“… a mortgage is still a form of long-term forced savings ….  Besides, owning a home isn't just about what shows up on a net worth statement.”  More:  http://finance.yahoo.com/real-estate/article/110516/in-defense-of-home-ownership?mod=realestate-buy

National Association of Realtors®, 08/30/10

The Housing Markets: Supply, Demand, and Current Issues

“Every month the press is filled with commentary on the latest housing market figures. Some of the stories would benefit from additional perspective. In this month's “Behind the Numbers,” we focus on some of the housing market problems in the news: supply, demand, and the outlook. Of course, all housing is local, so the information needs to be considered in conjunction with knowledge of local market conditions”  More:  http://www.realtor.org/research/reinsights/behindthenumbers

Austin Business Journal, 08/27/10

Foreclosure picture improvement could be fleeting

“For the first time since 2006, the number of loans in the process of foreclosure fell in the second quarter, the Mortgage Bankers Association said Thursday. Some other measures of delinquency also dropped.”  More:  http://www.statesman.com/business/foreclosure-picture-improvement-could-be-fleeting-881944.html

Austin Business Journal, 08/26/10

11.3% of Texas homes mortgage underwater

“More than 11 percent of Texas residential properties are underwater in their mortgage loans ….  Nationally, 11 million, or 23 percent, of all residential properties reported negative equity at the end of the second quarter ….”  More:  http://austin.bizjournals.com/austin/stories/2010/08/23/daily43.html

Austin American-Statesman, 08/26/10

Austin council set to vote on 2,300 acres of development along Texas 130

“Fort Worth-based Taurus of Texas Holdings, a partner of Boston-based Taurus Investment Holdings, bought the land in 2006. The company's purchase includes Whisper Valley Ranch — 2,066 acres on the east side of Texas 130 about three miles south of Manor — as well as 240 acres on the west side of 130 at Decker Lake Road, where it plans Indian Hills, with apartments, retail and commercial space, said Steve Metcalfe, the Austin attorney who is working on obtaining the city approvals for Taurus. ”  More:  http://www.statesman.com/business/real-estate/austin-council-set-to-vote-on-2-300-879852.html?cxtype=rss_ece_frontpage

RISMedia, 08/25/10

Three Lessons from Three Years of Recession

“Here are three lessons we have learned within the last three years, with a glimpse to what the future holds for the new real estate. ”  More:  http://rismedia.com/2010-08-24/three-lessons-from-three-years-of-recession/#more-48916

Austin American-Statesman, 08/24/10

Sales of existing homes plummet 27% in July

“Sales of previously occupied homes in the United States fell 27.2 percent in July from the previous month, the National Association of Realtors said Tuesday, the largest monthly drop in the four decades that records have been kept. The annual sales rate of 3.83 million was the lowest since 1999, and the pace for single-family homes, which accounted for the bulk of sales, was at its lowest level since May 1995.”  More:  http://www.statesman.com/business/sales-of-existing-homes-plummet-27-in-july-877623.html

Austin Business Journal, 08/24/10

13 Austin companies make Inc. 500 list

“Thirteen Austin companies were recognized on Inc. magazine's fastest-growing list.”  More:  http://www.bizjournals.com/austin/stories/2010/08/23/daily12.html?ana=e_du_pub

Austin American-Statesman, 08/23/10

Housing market doldrums could chill recovery

“Housing led the U.S. out of seven of the past eight recessions. This time, it could kill the recovery.”  More:  http://www.statesman.com/business/real-estate/housing-market-doldrums-could-chill-recovery-875089.html

Associated Press (The-Review.com), 08/21/10

Nearly 50 percent leave Obama mortgage-aid program

“Approximately 630,000 people who had tried to get their monthly mortgage payments lowered through the government program have been cut loose through July, according to the Treasury report. That's about 48 percent of the those who had enrolled since March 2009. And it is up from more than 40 percent through June.”  More:  http://hosted.ap.org/dynamic/stories/U/US_MORTGAGE_AID?SITE=OHALL2&SECTION=HOME&TEMPLATE=DEFAULT

Austin American-Statesman, 08/21/10

Austin job growth continues in July

“Austin-area employers are adding jobs at an accelerating pace, with a gain of 18,500 jobs in the 12-month period that ended in July, the Texas Workforce Commission said Friday.”  More:  http://www.statesman.com/business/austin-job-growth-continues-in-july-870621.html?cxtype=rss_ece_frontpage

Austin American-Statesman, 08/21/10

Jobless rate drops in 18 states, rises in 14

“The jobless rate dropped in 18 states and Washington last month, the Labor Department said Friday. It rose in 14 states and stayed the same in 18. That's a slowdown from the past three months when unemployment fell in more than 30 states.”  More:  http://www.statesman.com/business/jobless-rate-drops-in-18-states-rises-in-870866.html

Real Estate Center at Texas A&M University, 08/20/10

Weak Home Sales Numbers Don’t Tell Whole Story, Economist Says

“‘The year-over-year decline in existing home sales will be the result of comparing months when there was no tax credit with those from a year earlier, when the tax credit was artificially increasing sales,’ said Dr. Mark Dotzour, the Center’s chief economist.”  More:  http://recenter.tamu.edu/news/NewsRel27-0810.pdf

Austin American-Statesman, 08/20/10

Austin-area home sales fall with expiration of tax credits

“Sales of existing homes in the Austin area fell 25 percent in July from a year ago, the Austin Board of Realtors reported Thursday.  Other cities are seeing similar drops as the expiration of federal tax credits for homebuyers has distorted typical buying patterns.”  More:  http://www.statesman.com/business/real-estate/austin-area-home-sales-fall-with-expiration-of-869091.html

Austin American-Statesman, 08/20/10

Austin job market loses a little steam in July

“Austin’s job market lost a little ground in July, with 5,700 jobs fewer than in June, for a total of 765,800, the Texas Workforce Commission reported.  However, Almost all of the month-to-month drop was due to the seasonal loss of school-related jobs.”  More:  http://www.statesman.com/blogs/content/shared-gen/blogs/austin/theticker/entries/2010/08/20/austin_job_market_loses_a_litt.html

@theChamber (Greater Austin Chamber of Commerce), 08/17/10

Central Texas Economy In Perspective

“Despite stronger than average showings through this recession on a number of indicators, Austin’s total personal income ($60.6 billion in 2009) declined 2.0%, compared to the average 1.8% decline for all metropolitan areas. However, Austin’s drop is more moderate than the 2.3% for the 52 large metros (those with a million or more population).”  More:  https://app.e2ma.net/app/view:CampaignPublic/id:26685.8540132898/rid:81d1e143a1138424c65b23d04de11bcb

Yahoo! News (Reuters), 08/17/10

July home building up

“Housing starts rose 1.7 percent to a seasonally adjusted annual rate of 546,000 units, the Commerce Department said, but below market expectations for a 560,000-unit pace ….  New building permits, which give a sense of future home construction, dropped 3.1 percent to a 565,000-unit pace last month, the lowest level since May 2009. Financial markets had expected a 580,000-unit rate.”  More:  http://news.yahoo.com/s/nm/20100817/bs_nm/us_usa_economy_housing

Dallas Morning News, 08/17/10

Home mortgage closing costs on the rise

“Consumers who plan to take advantage of record-low home loan interest rates may find themselves paying more at the closing table ….  The jump in closing costs is mostly due to tougher federal lending guidelines that require mortgage companies to be more accurate in their "good faith estimates" of expenses ….”  More:  http://www.dallasnews.com/sharedcontent/dws/bus/stories/DN-loans_17bus.ART0.State.Edition1.29374e5.html

CNNMoney.com, 08/16/10

New York's No. 1 in home closing costs

“For a $200,000 mortgage, the fees average more than $5,600 now in New York, according to the survey. The state roared past Texas, last year's leader, where costs average about $4,700. In third place is Utah, where they slightly exceed $4,600.”  More:  http://money.cnn.com/2010/08/16/real_estate/closing_costs_soaring/index.htm

National Association of Home Builders, 08/16/10

Builder Confidence Declines In August

“…three out of four regions posted HMI declines in August. A six-point decline to 18 in the Northeast partially offset a big gain in that region in the previous month, while the South and West each posted one-point declines to 13 and 8, respectively. The HMI for the Midwest held even at 15 in August.”  More:  http://www.nahb.org/news_details.aspx?newsID=11186

Family Circle, 2010, recent

10 Best Towns for Families: 2010

Round Rock, TX is featured as the great family town it is.  More:  http://www.familycircle.com/family-fun/money/10-best-towns-for-families-2010/?page=6

Austin Business Journal, 08/12/10

Austin foreclosures down 21% in July

“Austin still ranks low among metro areas with the highest number of foreclosures in July, checking in at No. 126 of the 203 areas that RealtyTrac monitors. Showing some relative stability, Austin ranked at No. 118 in June, No. 120 in May and No. 115 in April.”  More:  http://www.bizjournals.com/austin/stories/2010/08/09/daily44.html?ana=e_du_pub

Austin Business Journal, 08/12/10

Austin real estate deal round-up

“Here is a round-up listing of recent deals that have been announced this week in the Austin real estate market:”  More:  http://www.bizjournals.com/austin/stories/2010/08/09/daily55.html?ana=e_du_pub

RISMedia, 08/09/10

How Important Changes to Mortgage Underwriting May Affect Many Buyers

“In the last couple of months, many transactions nationally have experienced delayed closings or worse as a result of the application of new guidelines affecting APR, Good Faith Estimates (GFE), Truth in Lending (TILA) and condo project approvals to name a few.”  More:  http://rismedia.com/2010-08-08/how-important-changes-to-mortgage-underwriting-may-affect-many-buyers/#more-48489

RealEstateRama, 08/06/10

FHA LAUNCHES SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERS

“Starting September 7, 2010, the Federal Housing Administration (FHA) will offer certain ‘underwater’ non-FHA borrowers who are current on their existing mortgage and whose lenders agree to write off at least ten percent of the unpaid principal balance of the first mortgage, the opportunity to qualify for a new FHA-insured mortgage.”  More:  http://www.realestaterama.com/2010/08/06/fha-launches-short-refi-opportunity-for-underwater-homeowners-ID07594.html

RISMedia, 08/05/10

Pending Home Sales Ease in Post-Tax Credit Market

“Pending home sales edged down with near-term sales expected to be notably lower in contrast to the spring surge when buyers rushed to take advantage of the home buyer tax credit, according to the National Association of Realtors.”  More:  http://rismedia.com/2010-08-04/pending-home-sales-ease-in-post-tax-credit-market/#more-48410

Austin Business Journal, 07/30/10

Austin among top cities for young adults

“Austin was picked for having one of the highest percentages of Generation Y residents in the U.S., about 30 percent of Austinites. The city has the fourth-lowest jobless rate (7.4 percent in June) among metros with more than one million people and cost of living is below the norm, according to Kiplinger's. Austin is home to eight colleges and universities and hosts two huge music festivals — South-by-Southwest and Austin City Limits.”  More:  http://www.bizjournals.com/austin/stories/2010/07/26/daily52.html?ana=e_du_pub

Austin American-Statesman, 07/29/10

Williamson tax rate may rise by three cents

“The increasing cost of indigent health care could cause the property tax rate for Williamson County to rise by three cents, costing the average homeowner $41.27 more per year, according to county officials.”  More:  http://www.statesman.com/news/local/williamson-tax-rate-may-rise-by-three-cents-829119.html

RE/MAX Mainstreet, 07/28/10

New Report Confirms RE/MAX Agent Edge

“Another major study confirms that RE/MAX Associates, on average, outproduce their competitors at other national franchise brands. Realtor Magazine's annual Top 100 Companies report appears in its July/August issue and ranks U.S. brokerages by 2009 transaction sides and sales volume.  ”  More:  http://public.remax.net/public-News/Pages/RealtorTop100Companies.aspx

Austin American-Statesman, 07/28/10

Texas cities hold top four job-growth spots

“Austin came in No. 3 with 56,100 new private-sector jobs created between June 2005 and June 2010.”  More:  http://austin.bizjournals.com/austin/stories/2010/07/26/daily33.html

McClatchy Newspapers, 07/28/10

What's next for housing finance, Fannie and Freddie?

“With the overhaul of financial regulation in the bag, the Obama administration Tuesday said it'll focus next on housing finance — another key cause of the recent deep economic downturn — with an eye to deciding the fate of mortgage finance titans Fannie Mae and Freddie Mac.”  More:  http://www.mcclatchydc.com/2010/07/27/98222/whats-next-for-housing-finance.html

Austin American-Statesman, 07/28/10

Travis County preliminary budget proposal unveiled

“Many Travis County tax bills would rise next year, but there would be no cuts to services under the county's preliminary 2011 budget presented to commissioners Tuesday.”  More:  http://www.statesman.com/news/local/travis-county-preliminary-budget-proposal-unveiled-826932.html

Austin American-Statesman, 07/27/10

Travis County property appraisals fall 3.5 percent in final tally

“Meanwhile, Williamson County saw a decline of only $200 million, to $41.6 billion. Bastrop and Hays added $100 million and $200 million, respectively, for total values of $6.5 billion and $14.2 billion.”  More:  http://www.statesman.com/business/travis-county-property-appraisals-fall-3-5-percent-824823.html

Yahoo! News, 07/27/10

Home prices increase 1.3 pct. in May from April

“The Standard & Poor's/Case-Shiller 20-city home price index released Tuesday posted a 1.3 percent increase in May from April.  Nineteen of 20 cities showed price gains month over month. Only Las Vegas recorded a price decline.”  More:  http://news.yahoo.com/s/ap/20100727/ap_on_bi_ge/us_home_prices

Austin American-Statesman, 07/27/10

No rebound for home prices yet, analysts say

“Parts of the country already pummeled by the housing crisis including Las Vegas, Phoenix and Miami will be hit hardest. But even some places that have rebounded or held up relatively well — New York, Los Angeles and Washington among them — will suffer, too.”  More:  http://www.statesman.com/business/real-estate/no-rebound-for-home-prices-yet-analysts-say-824800.html

Austin American-Statesman, 07/26/10

New home sales up, but sales remain slow

“New home sales rose nearly 24 percent in June from a month earlier to a seasonally adjusted annual sales pace of 330,000, the Commerce Department said Monday. May's number was revised downward to a rate of 267,000, the slowest pace on records dating back to 1963. Sales for April and March were also revised downward.”  More:  http://www.statesman.com/news/nation/new-home-sales-up-but-sales-remain-slow-823553.html

Wall Street Journal (blogs.wsj.com), 07/23/10

Government Mortgage Mods: Failure, or Just Flawed?

“On Tuesday, the administration released another disappointing report on the Home Affordable Modification Program or HAMP. The report showed that in June, the number of homeowners with modifications that fell out of the program was more than double the 39,000 new homeowners who began modifications.”  More:  http://blogs.wsj.com/developments/2010/07/23/government-mortgage-mods-failure-or-just-flawed/

Bloomberg Businessweek, 07/23/10

Where the Real Estate Market is Already Bouncing Back

“[A]ll [real estate industry] trends begin on the West coast and then move toward the South, the Midwest, and then finally to the Northeast.  And those trends, at least as I read them, indicate that residential real estate has already begun to recover.”  More:  http://www.businessweek.com/lifestyle/content/jul2009/bw20090723_400306.htm

RISMedia, 07/23/10

Existing-Home Sales Slow in June 2010 but Remain Above Year-Ago Levels

“Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1% to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May, but are 9.8% higher than the 4.89 million-unit pace in June 2009.”  More:  http://rismedia.com/2010-07-22/existing-home-sales-slow-in-june-2010-but-remain-above-year-ago-levels/

Austin Business Journal, 07/23/10

Austin suburbs yearn for industrial space

“Most of Austin’s northern suburbs are wrestling with a shortage of large industrial buildings even as industrial vacancy rates in the city soar.”  More:  http://austin.bizjournals.com/austin/stories/2010/07/26/story1.html?b=1280116800^3684921

US News & World Report, 07/22/10

Dirt-Cheap Mortgage Rates: Here for How Long?

“’It's really what you could call a once-in-a-generation opportunity for [low] financing costs,’ says Mike Larson of Weiss Research. Here's a look at the forces that have created the current mortgage-rate environment, the direction rates are headed, and what you need to know to take advantage of them.”  More:  http://money.usnews.com/money/personal-finance/real-estate/articles/2010/07/22/dirt-cheap-mortgage-rates-here-for-how-long.html

Austin Business Journal, 07/22/10

Austin picked as top entrepreneurial center in U.S.

“Entrepreneur.com … touted Austin’s innovative spirit, commerce and emerging technology culture. Among those efforts, the city's Emerging Technology Program attracts growing firms and supports established locals.”  More:  http://www.bizjournals.com/austin/stories/2010/07/19/daily42.html?ana=e_du_pub

Austin Business Journal, 07/22/10

Austin 5th best city for college grads

“Austin ranks as the nation’s fifth-best city for new college graduates in the latest annual listing by Bloomberg Businessweek.”  More:  http://www.bizjournals.com/austin/stories/2010/07/19/daily46.html?ana=e_du_pub

Austin American-Statesman, 07/21/10

Homes sales decline in June; listings hit record level

“Central Texas' housing market slowed in June, with sales down 4 percent from a year ago and the number of homes on the market climbing to a record 11,749 listings, the Austin Board of Realtors reported Tuesday.”  More:  http://www.statesman.com/business/home-sales-slow-listings-surge-814017.html

@theChamber (Greater Austin Chamber of Commerce), 07/20/10

Central Texas Economy In Perspective

“Friday’s release of June 2010 payroll jobs numbers by the Texas Workforce Commission and U.S. Bureau of Labor Statistics saw Austin again improve on the return to year-over-year job growth begun in April.”  More:  https://app.e2ma.net/app/view:CampaignPublic/id:26685.8461001374/rid:146a99b268a3ad26ff788c079e8e3888

Austin American-Statesman, 07/17/10

Austin area job market shows improvement

“Austin's job market showed signs of a rebound in June, led by a surge of hiring in the leisure and hospitality industry ….  It was the local job market's largest year-over-year gain since November 2008, when the nation's economic tailspin was beginning.”  More:  http://www.statesman.com/business/employment/austin-area-job-market-shows-improvement-807733.html

Austin American-Statesman, 07/17/10

Impact of home energy audit rule less than expected

“A year after it took effect, Austin's requirement that many homes undergo energy audits has not produced the dire effects that some in the real estate industry had feared.  But its impact on energy conservation is debatable.”  More:  http://www.statesman.com/business/impact-of-home-energy-audit-rule-less-than-807664.html?srcTrk=RTR_729919

Fortune (via CNNMoney.com), 07/14/10

4 reasons why Texas beats California in a recession

“Back in 1965, The Mamas & the Papas reached the top of the charts with "California Dreamin'," a song pining for a return to the warm safety of their home state. But these days they'd be better off dreaming about Texas.  The reason is that Texas powered through the global fiscal crisis, while The Golden State's economy is forecast to remain tarnished for some time.”  More:  http://money.cnn.com/2010/07/13/news/economy/california_texas_economy.fortune/index.htm

AskTara@Trulia (Trulia.com), 07/13/10

5 New Short Sale Myths - Busted!

“Here are 5 of these ‘next-generation’ myths about short sales, and the facts to shatter them:”  More:  http://www.trulia.com/blog/taranelson/2010/07/5_new_short_sale_myths_-_busted#c40393

@theChamber (Greater Austin Chamber of Commerce), 07/14/10

Central Texas Economy In Perspective

“Reflecting the state’s relatively muted experience of the housing downturn, four of the six cities adding the most population in the second half of the decade are in Texas. They also say that ‘the Lone Star surge was particularly pronounced from 2008 to 2009. During that year five Texas cities ranked among the top nine in numeric gains, and five ranked among the top eleven in growth rates.’”  More:  https://app.e2ma.net/app/view:CampaignPublic/id:26685.8441239487/rid:cdf8a9d70bf08486bf55ce70e622ff0c

SmartMoney.com (from Wall Street Journal), 07/14/10

Jumbo Mortgage Rate Plunge 

“Nearly two years after the credit crunch virtually froze mortgage markets, high-end borrowers are seeing some relief:  Rates for ‘jumbo’ mortgages on pricier homes are at their lowest since 2003.”  More:  http://www.smartmoney.com/personal-finance/real-estate/jumbo-mortgage-rates-plunge/?cid=1122

Austin American-Statesman, 07/11/10

Mortgages rates are at record lows, so where's the refinancing activity?

“Mortgage rates have sunk to levels not seen in more than a half-century — a seductive 4.57 percent for an average 30-year fixed loan. Yet brokers and lenders report not a flood but a trickle of customers.  So what's going on?”  More:  http://www.statesman.com/business/personal-finance/mortgages-rates-are-at-record-lows-so-wheres-795949.html

National Association of Realtors®, 07/08/10

Economist's Commentary: Regional Market Conditions, Q1 2010

“Markets in Texas, a state slow to join the national boom and which avoided much of the subprime mess, have slowed with the economy and employment issues, but many like Austin-Round Rock, Dallas-Fort Worth-Arlington, and Corpus Christi posted stable prices or small gains.”  More:  http://www.realtor.org/research/economists_outlook/commentaries/regional_q12010_part1

Austin Business Journal, 07/07/10

Round Rock ranks among best family towns

“’We’ve known for years that Round Rock is a special place for families to call home, so it is an honor to be recognized by such a popular national publication,; Round Rock Mayor Alan McGraw said.”  More:  http://austin.bizjournals.com/austin/stories/2010/07/05/daily19.html

Austin American-Statesman, 07/07/10

Developer buys 1,200 lots in Leander

“In a sign the local homebuilding machine might be cranking up again, Taylor Morrison Communities has purchased nearly 1,200 lots in one of Central Texas' largest master-planned communities: Crystal Falls in the Leander area.”  More:  http://www.statesman.com/business/real-estate/developer-buys-1-200-lots-in-leander-789256.html

RISMedia, 07/06/10

FHA Reform Act and Annual Mortgage Premiums; What an Increase Means for Borrowers

“Currently, the annual mortgage premium is 0.55% of the loan amount, but if the FHA Reform Act is passed, it would allow the FHA to raise the premium up to a maximum of 1.55%.”  More:  http://rismedia.com/2010-07-05/fha-reform-act-and-annual-mortgage-premiums-what-an-increase-means-for-borrowers/

Austin  American-Statesman, 07/02/10

Austin-area home starts up 11% over year ago 

“Austin-area homebuilders started construction on nearly 11 percent more houses in the second quarter than a year ago, and there are signs that activity will continue to pick up despite the expiration of the federal tax credit for buyers, according to a research firm.”  More:  http://www.statesman.com/business/austin-area-home-starts-up-11-over-year-781652.html

RISMedia, 07/01/10

House Extends Home Buyer Tax Credit Closing Deadline

“The House of Representatives introduced and passed a proposal to extend the original June 30 closing deadline for home buyers who want to get up to $8,000 in tax credits.”  More:  http://rismedia.com/2010-06-30/house-extends-home-buyer-tax-credit-closing-deadline/

Austin Business Journal, 07/01/10

Texas leads nation for job growth in May

“Texas added more jobs than any other state in May, picking up about 43,600, according to a study Thursday from the Americans for Prosperity Foundation.  More:  http://austin.bizjournals.com/austin/stories/2010/06/28/daily49.html

Bloomberg.com, 06/29/10

Home Prices in U.S. Cities Up 3.8% From Year Earlier 

“The S&P/Case-Shiller index of property values climbed 3.8 percent from April 2009, the biggest year-over-year gain since September 2006 ….”  More:  http://www.bloomberg.com/news/2010-06-29/home-prices-in-u-s-cities-rose-3-8-in-april-from-year-ago.html

SmartMoney.com, 06/29/10

Housing Market In Stumble Mode

“Wall Street is training its sights on home values and sales this week, but hopes are muted as the housing market continues to stumble through a choppy recovery.”  More:  http://www.smartmoney.com/investing/stocks/housing-market-stumbles-along/?cid=1122&hpadref=1

Austin American-Statesman, 06/26/10

As housing market shrinks, so does average size of new homes

“… the data do not indicate that buyers are looking for smaller homes because they think small is beautiful ….  Rather, they want homes that are more energy-efficient, with a more urban location and with fewer bedrooms, and that all naturally translates into a smaller home.”  More:  http://www.statesman.com/business/as-housing-market-shrinks-so-does-average-size-769908.html

Salon.com, 06/24/10

Mortgage rates sink to lowest level on record

“Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans.”  More:  http://www.salon.com/wires/allwires/2010/06/24/D9GHMAGO0_us_mortgage_rates/index.html

CNNMoney.com, 06/24/10

America's most recession-proof cities

“The ‘Keep Austin Weird’ campaign must have worked, because the Texas capital is among the country's oddball cities that bucked the downturn.”  More:  http://money.cnn.com/2010/06/22/news/economy/recession_proof_cities/index.htm

Austin American-Statesman, 06/24/10

Sales of new homes drop by record amount to record low 

“Sales of newly built houses in the U.S. dropped last month to the lowest level on record, plunging by nearly one-third in May from the previous month in the strongest evidence to date that the housing market was likely to stumble as the popular tax credits for buyers expired.”  More:  http://www.statesman.com/business/sales-of-new-homes-drop-by-record-amount-765503.html

Realtor.org (National Association of Realtors®), 06/22/10

May Shows a Continued Strong Pace for Existing-Home Sales

“Existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates”  More:  http://www.realtor.org/press_room/news_releases/2010/06/may_strong_pace

AngelouEconomics

2010-2011 Economic Forecast:  Changing Times, Emerging Opportunities

Very informative PowerPoint presentation from an economist who has watched and forecasted economic development in the Austin area for many years.  More:  http://www.statesman.com/multimedia/archive/00153/Angelos_Angelou_s_2_153810a.pdf

Yahoo! Finance, 06/22/10

Borrowers exit troubled Obama mortgage program

“More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped out. That exceeds the number of people who have managed to have their loan payments reduced to help them keep their homes.”  More:  http://finance.yahoo.com/news/Borrowers-exit-troubled-Obama-apf-887634101.html?x=0

Austin American-Statesman, 06/19/10

Austin market adds job for second straight month

“Central Texas employers added 4,000 jobs between May 2009 and May 2010, a 0.5 percent annual gain, according to the commission. That comes on the heels of the April jobs report, which found the area was 800 jobs ahead of April 2009 — the first year-over-year gain since late 2008.”  More:  http://www.statesman.com/business/employment/austin-market-adds-job-for-second-straight-month-756522.html

New York Times, 06/19/10

Cost of Seizing Fannie and Freddie Surges for Taxpayers

“For all the focus on the historic federal rescue of the banking industry, it is the government’s decision to seize Fannie Mae and Freddie Mac in September 2008 that is likely to cost taxpayers the most money. So far the tab stands at $145.9 billion, and it grows with every foreclosure ….”  More:  http://www.nytimes.com/2010/06/20/business/20foreclose.html?scp=2&sq=fannie%20mae&st=cse

Austin Business Journal, 06/18/10

Austin homes sales up 24 percent in May

“As the economic boost from the federal tax credit for new homebuyers fades, Austin area home sales continued to increase in May, rising 24 percent compared with the same month in 2009, according to the Austin Board of Realtors.”  More:  http://austin.bizjournals.com/austin/stories/2010/06/14/daily62.html?surround=lfn

Austin Business Journal, 06/18/10

Texas dominates Forbes 'best cities for young professionals' list

“Out of the top 10 on the ranking, three Texas cities made the list, including No. 1 Houston, No. 6 Dallas and No. 10 Austin. The publication picked metros where recent college graduates are most apt to start a strong high-powered career.”  More:  http://austin.bizjournals.com/austin/stories/2010/06/14/daily65.html?surround=lfn

BankRate.com, 06/17/10

Mortgage rates hold steady

“The benchmark 30-year fixed-rate mortgage remained 4.88 percent this week, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.48 discount and origination points. One year ago, the mortgage index was 5.76 percent; four weeks ago, it was 4.96 percent.”  More:  http://www.bankrate.com/finance/mortgages/mortgage-rates-hold-steady.aspx

SmartMoney.com, 06/15/10

How Confident Are Home Builders?

“For the past three years, the nation has seen a below-average rate of household formation ….  Eventually, those young adults who have put off moving out of parents’ homes, married couples who have put off divorcing, and other individuals who would naturally form new households will drive demand up ….  The longer homebuilding stays low, the stronger the eventual rebound will have to be to match that pent-up demand ….”  More:  http://us.mg201.mail.yahoo.com/dc/launch?.partner=sbc&.gx=1&.rand=7s0i5pp4qaa89

Bloomberg.com, 06/11/10

Builders Rush to Complete Houses by U.S. Tax Credit Deadline

“U.S. builders … are on a tight deadline to finish houses by the end of June so purchasers can get a federal tax credit of as much as $8,000.”  More:  http://www.bloomberg.com/apps/news?pid=newsarchive&sid=akZGcJglxUaY

RISMedia, 06/11/10

Will a Short Sale Save Your Credit?

“Beware the Web, where you’ll see plenty of claims that short sales will save your credit, simple as that. But there’s nothing simple about deciding whether to sell your house in a foreclosure or in a short sale”  More:  http://rismedia.com/2010-06-11/will-a-short-sale-save-your-credit/

RISMedia, 06/08/10

Foreclosures Often Carry Unforeseen Risk: Lawsuits from Lenders

“As the next wave of the housing crisis plays out, those most in danger of getting slapped with lawsuits include angry homeowners who ransack properties they’re losing in foreclosure and borrowers who walk away from “underwater” mortgages. In both cases, analysts say, banks will want to discourage other people from such behavior.”  More:  http://rismedia.com/2010-06-08/foreclosures-often-carry-unforeseen-risk-lawsuits-from-lenders/

Orange County Register, 06/08/10

Foreclosures to be high for 18 more months

“Foreclosure activity in America won’t stabilize until late 2011, an executive for Irvine-based Realty Trac told a group of real estate writers ….  Sixty percent of all U.S. foreclosure activity is occurring in just six states.”  More:  http://mortgage.freedomblogging.com/2010/06/08/foreclosures-to-be-high-for-18-more-months/32315/

Orange County Register, 06/07/10

How dangerous is buying a foreclosure?

“…from a recent survey by Trulia.com and RealtyTrac on how people view buying a foreclosure ….  The 2 Websites have come up with what they’re calling the Top 10 Myths about buying foreclosures, along with their reality checks”  More:  http://mortgage.freedomblogging.com/2010/06/07/how-dangerous-is-buying-a-foreclosure/32309/

RISMedia, 06/07/10

Pending Home Sales Surge Continues

“Pending home sales have risen for three consecutive months, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions, according to the National Association of Realtors.”  More:  http://rismedia.com/2010-06-06/pending-home-sales-surge-continues/#more-47026

Bloomberg.com, 06/04/10

Fannie Mae’s Duncan Says Homebuyer Tax Credit Shifted Demand

“’Temporary tax credits change behavior temporarily,’ Duncan said today at a National Association of Real Estate Editors conference in Austin, Texas. ‘It’s simply shifted demand forward.’”  More:  http://www.bloomberg.com/apps/news?pid=20601206&sid=avxKBbKBzgoQ

RISMedia, 06/01/10

Op-Ed: A Life Preserver for Underwater Homeowners

“When you consider the dilemma, an underwater homeowner has five choices ….  The reality is both homeowners and lenders made bad financial decisions. Rather than be at odds now when the investment has soured they should partner with each other in a long-term equity sharing arrangement.”  More:  http://rismedia.com/2010-05-31/op-ed-a-life-preserver-for-underwater-homeowners/

Austin Business Journal, 05/28/10

Texas Realtors touting state program

“Bond 77 …. That’s the name of a new program, launched this month by the Texas Department of Housing and Community Affairs, under which the department is making $500 million available to eligible homebuyers for mortgage loan assistance — either through down payment assistance or by facilitating a lower interest rate.”  More:  http://austin.bizjournals.com/austin/stories/2010/05/31/story4.html?b=1275278400^3422231

Yahoo! Real Estate, 05/25/10 (from the editors of Kiplingers Personal Finance)

Ten Best Cities for the Next Decade

# 1 -- Austin, Tex.

More:  http://realestate.yahoo.com/promo/10-best-cities-for-the-next-decade

Austin Business Journal, 05/12/10

Report: Austin 2nd highest city lobby funder in Texas

“The city of Austin was the second highest lobby funding city in the state last year, according to a Texans for Public Justice report Wednesday.”  More:  http://austin.bizjournals.com/austin/stories/2010/05/10/daily30.html?ed=2010-05-12&page=1

National Association of Home Builders

Home Buyer Tax Credits – Special Rules for Military Members 

“Congress has acknowledged the unique circumstances affecting members of the military, the foreign service and the intelligence community by making the following exceptions that apply to both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers.”  More:  http://www.federalhousingtaxcredit.com/service_mem.php

RISMedia, 05/05/10

Pending Home Sales on an Upswing 

“Pending home sales increased again in March 2010, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®.”  More:  http://rismedia.com/2010-05-04/pending-home-sales-on-an-upswing/

Austin Business Journal, 05/03/10

Texas has one of country’s best small business climates

“The Small Business and Entrepreneurship Council has ranked Texas the second-best state in America for small-business development for 2010.”  More:  http://austin.bizjournals.com/austin/stories/2010/05/03/daily7.html?ed=2010-05-03&ana=e_du_pub

@theChamber (Greater Austin Chamber of Commerce), 05/03/10

Central Texas Economy In Perspective

“On Friday, IHS Global Insight presented their spring briefing on the Texas economic outlook at the offices of the Texas Comptroller of Public Accounts ….[T]he bottom line for Texas was that the state will be among the fastest growing during the recovery ….Austin and Dallas will lead Texas’ growth because of their high concentration in the sectors that will lead the recovery.”  More:  http://app.e2ma.net/campaign/26685.45749ba2a6a84d943ca5a3d509564d44

Austin American-Statesman, 05/02/10

Credit scores aren't always black and white 

“This three-digit number, intended to signal whether you're a credit risk, can dictate the terms you get on credit cards, mortgage loans and insurance premiums. Once secret, scores are now widely pitched by companies - often for a price.  One problem: The score you buy might not be anywhere close to the one your lender or creditor uses. Even a small difference in scores could mean that you don't get the terms you expected.  ”  More:  http://www.statesman.com/business/personal-finance/credit-scores-arent-always-black-and-white-658793.html?page=2