Filed under: Austin Texas, Austin Texas News, Austin Texas Real Estate, Real Estate News, Real Estate Tips and Advice, Texas | Tags: Austin Texas, economy, FHA, Real estate
The latest economic reports this week were not very encouraging but I want to remind you that this is Austin, Texas.
Texas has the strongest economy in the United States with all the major metro areas reporting job growth and lower unemployment rates. Dallas-Fort Worth, Houston, Austin and San Antonio (in that order) were named in the top 10 cities to resist a recession a few months ago by Forbes.com. Since that time, the economic reports for these metro areas has remained stable or imporved. Dallas alone has experienced the highest job growth of any city in the nation.
The Austin real estate market experiened a slower market in 2007 and the beginning of 2008 over the blockbuster year of 2006. However, home values did not decrease. Austin, Texas home values have remained stable or increased. Home sales began rebounding in April 2008, although it is still a buyer’s market with a large inventory of homes.
There is so much positive news (nationwide) that is not widely reported and there is an upside to every downside report, especially here in Texas . Ninety percent of the members of the National Association of Business Economics are reporting that there will not be a recession and the economy will experience growth, albeit a slow growth. “Corporate America” may not be making the same profits as last year, but corporations reported profits in excess of 1.5 trillion dollars in the last quarter.
Do not let the media or the fear of “things to come” rob you of the opportunity to own your own home. Austin home prices are still affordable and mortgage interest rates are still lower than last year’s rates.
If you do not have perfect credit or a 20% down payment, there is still a loan option for you – FHA. FHA offers fixed interest rates (some of the lowest on the mortgage market). FHA also offers flexible guidelines with regard to credit. FHA has recently increased their loan limits (expires 12/31/2008 ) which could increase your purchasing ability. FHA also offers home loans with only 3% down required; part of these funds can be in the form of a gift from a family member, a down payment assistance program or the seller.
Get a step ahead of the inevitable inflation that will come into play in the years ahead. Now is the time to determine what your housing budget will be for the next 15-30 years. When you choose a fixed mortgage rate, your house payment will not change. Inflation has not yet affected the real estate market. Once your home is paid off (a 30 year loan can be paid off in as little as 15 years without a major blow to the budget), you will be living rent free in a home that has more than doubled in value.
According to the experts, as the U.S. housing market improves, so will consumer confidence and the weakening dollar. Be part of the national economy recovery; become a homeowner. One of the best markets to invest in is the Austin real estate market.
Filed under: Austin Texas, Austin Texas News, Austin Texas Real Estate, Real Estate News, Real Estate Tips and Advice, Texas | Tags: Austin, Austin economy, Austin market, economy, gas prices, home
Austin’s market has remained strong with prices increasing while many metro areas in the country experienced a downturn.
The Austin economy has remained strong and gotten stronger while many metro areas are experiencing a downturn in job growth and stability.
Texas was recently named the best place to do business in the nation by CNBC. According to the Real Estate Center at Texas A&M University the Texas economy will remain strong in all of the Texas major metro areas until 2030.
Austin was named #3 in the list of recession proof cities published by Forbes.com (Austin Stands Strong).
All of these factors make for good reasons to invest now in the “American Dream”, homeownership.
Now there is a new factor in the real estate market which makes buying a home in Austin a wise choice, the rising price of fuel.
Location has always been a real estate mantra and with the effect that the high gas prices are having on people’s budget, location may become even more important.
The suburbs may become passé and city living the next big thing. Real estate agents are already getting phone calls from those that want to move back to Austin from the suburbs to avoid the long commutes and high fuel costs.
The money, suburbanites, once saved in mortgage payments by purchasing less expensive homes in the suburbs is now being eaten up by gas prices. Homes in the city are becoming more attractive to suburbanites.
Although, the Feds are predicting that the inflation rate will slow down in the next few months; we will have to wait and see if it slows down enough to avoid an exodus from the suburban areas. Based on today’s gas prices an Austin home is probably a wiser investment for the future than one in the outlying areas.
Filed under: Austin Texas, Austin Texas News, Austin Texas Real Estate, Real Estate Tips and Advice, Texas, Visit Austin | Tags: fireworks, fourth of july, pets
Humans love a great fireworks show but dogs and cats don’t. The very things that bring out the oohs and aah’s in us are the same things that cause pets to go into panic mode. It is the instinctive nature of animals to escape from the bright lights and booming sounds overhead.
In the animal’s panic all they want to do is escape. Pets have been known to break through fences and cages that had previously kept them safe and contained.
This Fourth of July make sure your pet is wearing an identification tag with your current address and phone number. If your pet is registered with a microchip company ensure that the information on file is correct.
Unless you already know that your pet will not react negatively; taking your pet with you to a fireworks display may not be your wisest choice. The best option is to leave your pet inside your home. Close your blinds and leave the radio or television on. Turning on music, such as classical, romantic or even soft rock can often have a calming effect on animals. Remember, even if your pet is used to living in the outdoors it is not used to the bright flashes or sounds of fireworks.
If your pet would panic and bolt, begin your search of the area immediately! If you are entering someone else’s yard be sure to ask permission (you need to keep yourself safe if you are going to find your pet). If you do not find your cat or dog please put up large visible signs (with a photo is best) in the area the animal became lost in and check with the nearest animal shelter. Don’t give up! When animals become panicked and lost they may hide from humans for a week or longer.
