• Real Estate Investment Club of Austin
  • Real Estate Investment Club of Austin
  • Real Estate Investment Club of Austin
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  • Real Estate Investment Club of Austin
  • Real Estate Investment Club of Austin
  • Real Estate Investment Club of Austin
  • Real Estate Investment Club of Austin
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News You Can use     8 March 2010

After being out of service for nine days due to a denial of service attack and the webmaster having connection problems we are finally up and running. Please accept both the Board of Director’s and the Executive Director’s apologies for the problems that may have been caused to our members and friends. We are in the process of seeing that this downtime will not happen again in the future.

 

Our monthly meeting will be held on 9 March 2010 at Endurable Investments, LLC. Office located at 3355 Bee Caves Road, Suite 608 (on the second floor), Austin, Texas 78746-6610 for the last time. We will send out a notice to all our members, guests, and friends at the end of this week where we will meet in April. See you tomorrow at 3355 Bee Caves Road.

 

Ms. Shenoah Peck well known in the Austin Real Estate Market will be our presenter for the 9 March 2010 meeting. Her topic for the evening will be “Central Texas Housing Update and Forecast”. She will feature a review of the 2009 results in Austin and Central Texas and an economic forecast for Austin’s Real Estate Market in 2010.

 

Here is what to expect from this meeting:

-          2009 Overall Sales Prices compared to 2008, 2007, 2006 and comparing that to her February 2009 forecast (which was quite accurate!)

-          2009 Overall Sales Volumes compared to 2008, 2007, 2006

-          2010 Projections on the Austin area Prices and Volumes

-          2009 Housing Starts vs. 2010 Housing Starts and how that affects the Austin overall market.

-          How the Home Buyer Tax Credit affected the 2009 market and how it will continue to affect the 2010 housing market.

-          Where we are at in the Real Estate Market Cycle

-          Listing some of the strategies that will work best in this market

-          What smart investors are investing in today?

 

 

Mortgage Analysis for the week ending 6 March 2010

 

For Fannie Mae Economics and Mortgage Market Analysis

go to http://www.fanniemae.com/media/economics/index.jhtml

 

                    Freddie Mac Weekly Primary Mortgage Rate

March 4, 2010

30-yr

15-yr

5/1-yr ARM

1-yr ARM

Average Rates:

4.97%

4.33%

4.11%

4.27%

Fees & Points:

0.7

0.7

0.6

0.6

Change

- 0.08%

- 0.07%

- 0.05%

0.12%

 

For Historical Mortgage Data from Inside Mortgage Finance go to http://www.imfpubs.com/data/

 

National Fixed Rate Mortgage figures go to

http://www.erate.com/mortgage_rates_search.htm

 

 Best Rates March 5, 2010  Yesterday Today
 30-yr 4.90% 4.92%
 15-yr 4.30% 4.31%
 FHA 30 Year Fix
 5.11% 5.11%
 Jumbo 30 Year Fixed
 6.43% 6.45%
 5/1 Year ARM 4.12% 4.12%




Monthly Austin Area Statistics          Last updated 20 February 2010


 

This Months Meeting

Meets
2nd Tuesday
each month

Next Meeting
13 April 2010

Speaker
(TBA)

 

Presentation

(TBA)

 

 

Location and Information

(Click Here)


3355 Bee Caves Road

Building #6 (in rear)

Suite 608 (second floor)

Austin, Texas 78746-6610

Map: http://bit.ly/28mI1M

 

Austin Real Estate Market for February 2010 as published 18 February 2010

2010

Change from
January 2009

Active Listing

8,738

-5.00%

Houses Sold

884

5.0%

Median Sales Price

$179,250

1.0%

Dollar Volume for single-family properties sold

$216,094,684

11.0%

Single family housing inventory for the Central Texas

6.5 months

National housing inventory average

 

Source: Austin Board of Realtors

 

AUSTIN MARKET OVERVIEW
November, 2009

2009

2008

Percent
Change

5-Year
Average

2009
Year to Date

2008
Year to Date

Percent
Change

5-Year
Year to Date
Average

New Listings

3,316

3,146

5.4%

3,438

3,316

3,146

5.4%

3,438

Pending Sales

1,646

1,338

23.0%

1,840

 1,646  1,338

23.0%

1,840

Closed Sales

951

910

4.5%

1,313

951

910

4.5%

1,313

Days on Market Until Sale

79


82


- 3.3%

75


79

82

- 3.3%

75

Median Sales Price

$175,000

$174,000

0.6%

$174,680

$175,000

$174,000

0.6%

$174,680

Average Sales Price

$233,015

$244,729

3.7%

$232,008

$233,015

$224,729

3.7%

$232,008

Total Active Listings Available

10,744

NA

-

-

-

-

-

-

Percent of Original List Price

93.2%

91.2%

2.2%

94.0%

94.0%

91.2%

3.0%

93.2%

Housing Affordability Index

162

156

3.9%

152

-

-

-

-

Months Supply of Inventory

5.9


NA

-

-

-

-

-

-

All data from the ABOR Multiple Listing Service.

Reports are created and maintained by the Minneapolis Area Association of REALTORS®.


Copyright © 2008 Real Estate Investment Club of Austin (REICAUSTIN). All Rights Reserved.