http://www.affinityproperties.com/wordpress All things Austin Real Estate Wed, 10 Mar 2010 01:34:01 +0000 http://backend.userland.com/rss092 en According to the Forbes Business Journal, Austin is tied for first place as the metropolitan area showing the most signs of economic recovery; Washington, D.C. was the other first-place contender.  This is in line with 2009 estimates by Forbes that Austin was positioned for a swift rebound; financial analysts predicted ... http://www.affinityproperties.com/wordpress/2010/03/09/austin-ranks-number-one-nationwide-in-economic-recovery/ Recent figures from the Mortgage Bankers Association suggest that the worst of the housing industry downturn may be over.  For the first time in three years, fewer homeowners are falling behind on their mortgage payments; this spells good news for mortgage lenders as well as borrowers.  While economists hesitate to ... http://www.affinityproperties.com/wordpress/2010/03/05/new-mortgage-delinquencies-decline-nationwide/ [caption id="attachment_878" align="alignleft" width="283" caption="OCLC (an organization with a mission similar to RPR, but for libraries) has alienated itself from it's supposed beneficiaries. Could something like this happen with RPR? "][/caption] In order to understand the potential problems with providing original real estate records to a communally-owned database, as RPR is ... http://www.affinityproperties.com/wordpress/2010/02/22/lessons-from-the-library-rpr-on-notice/ New rules proposed by the Community Development Commission could spell big changes for builders seeking variances for new developments in Austin.  The proposal is modeled on a similar law already in effect in Massachusetts and would require that builders who receive special permission to build larger-than-allowed residential buildings must devote ... http://www.affinityproperties.com/wordpress/2010/02/17/builders-oppose-commissions-proposal-regarding-new-housing-developments-in-austin/ Put this on my www.joecline.com/blog by accident. Here is the link, if you were looking for this post about the Realtors Property resource. I made this little ditty in Photoshop just for giggles. I was in a startup company a few years back and when the impending death sale of ... http://www.affinityproperties.com/wordpress/2010/02/16/realtors-property-resource-post/ [caption id="attachment_838" align="alignleft" width="425" caption="South by Southwest tix are highly coverted from coast to coast and from Film geek to music geek to computer geek!"][/caption] The 24th annual South by Southwest Conferences and Festivals at the Austin Convention Center will showcase the finest in film, music, and interactive media from March ... http://www.affinityproperties.com/wordpress/2010/02/04/south-by-southwest-conferences-and-festivals-one-of-the-hottest-tickets-in-austin/ A new mixed-use project is expected to break ground in Austin in 2010. The University Park development is within walking distance of the University of Texas-Austin, and will incorporate townhomes, condominiums, and apartment residences as well as a new movie theater, medical office space, and a luxury Andaz hotel. ... http://www.affinityproperties.com/wordpress/2010/01/26/university-park-under-construction-in-austin/ [caption id="attachment_837" align="alignright" width="283" caption="All over Haiti, buildings and other infrastructure have been destroyed and people are struggling to survive."][/caption] The recent earthquake in Haiti has caused untold suffering and massive devastation to residents of this small island nation.  The humanitarian aid efforts are already underway, and rebuilding plans are expected ... http://www.affinityproperties.com/wordpress/2010/01/18/austin-contributes-to-haiti-relief-efforts/ [caption id="attachment_834" align="alignleft" width="283" caption="Austin leads the nation in economic growth due to the diversity of local and statewide businesses, the University of Texas, and overall good business climate. "][/caption] A recent Brookings Institution report shows that Austin’s economy continued to grow in 2009 while other cities experienced slumps and downturns ... http://www.affinityproperties.com/wordpress/2010/01/13/austin-leads-nation-in-economic-growth/ [caption id="attachment_836" align="alignright" width="283" caption="Offices and other commercial space in Austin are bucking the national trend of falling rents and difficult financing. "][/caption] A recent Grubb & Ellis Company forecast lists Austin, Texas as the number one city in the nation for commercial real estate investment. Long considered one ... http://www.affinityproperties.com/wordpress/2010/01/07/good-news-for-austins-commercial-real-estate-market/ [caption id="attachment_835" align="alignleft" width="318" caption="After a year of sluggish sales, Austin saw a large jump in November '09. "][/caption] A last-minute scramble to take advantage of tax credits and low interest rates is credited with a 58% increase in Austin home sales in November 2009 over the same period last year. ... http://www.affinityproperties.com/wordpress/2009/12/30/november-2009-home-sales-increase-by-58-over-2008-figures/ [caption id="attachment_804" align="alignleft" width="284" caption="Hamilton Pool Preserve just outside of Austin."][/caption] Current economic conditions may have put a damper on vacation plans for the foreseeable future; that trip to Paris or Hawaii may have to wait for another year. Here in Austin, however, we have a number of outstanding vacation ... http://www.affinityproperties.com/wordpress/2009/12/20/vacation-in-austin-and-save/ Home builders are cautiously optimistic heading into the new year, according to a recent survey by John Burns Real Estate Consulting. The survey indicates that 57% of builders expect 2010 to be an improvement in terms of sales and revenues over 2009 figures. The extension and expansion of ... http://www.affinityproperties.com/wordpress/2009/12/16/home-builders-express-optimism-for-new-year/ [caption id="attachment_790" align="alignleft" width="400" caption="Taxes may be going up for real estate investments"][/caption] Real estate investment providers could be adversely affected by a bill that recently passed the U.S. House of Representatives that would tax real estate assets at the higher “ordinary income” rate rather than the existing capital gains rate. ... http://www.affinityproperties.com/wordpress/2009/12/13/new-legislation-could-cost-real-estate-investment-firms-more/ [caption id="attachment_rock" align="alignleft" width="320" caption="Seymour Fogel Mural"][/caption] The Starr Building located at 107 West 6th Street, Austin Texas, has been sold. CB Richard Ellis represented the owner in the sale of the roughly 77,000 sq ft office and parking garage. The building has been around Austin some 55 years and houses ... http://www.affinityproperties.com/wordpress/2009/12/09/historic-starr-building-sold/ Selling your home during the holiday season can be challenging; winter is usually a slow time in the real estate market. The good news is that buyers who brave the cold are usually motivated to buy and looking seriously for their new home. This can work to your ... http://www.affinityproperties.com/wordpress/2009/12/08/showcasing-your-home-for-the-holidays/ Watch the whole thing. You'll be glad that you did. http://www.affinityproperties.com/wordpress/2009/12/06/now-this-is-funny/ What Did Interest Rates Do This Week? ** based on Freddie Mac weekly average survey ** 30-yr Fixed – Lower This Week:  4.78% (lowest since April 30, 2009) Last Week:  4.83% 1yr Ago:  5.97% 15-yr Fixed – Slightly Lower This Week:  4.29% (record low) Last Week:  4.32% 1yr Ago:  5.74% Jumbo Fixed (Average 30-yr Fixed) Last Week:  5.75%Previous Week:  5.75% Highlight ... http://www.affinityproperties.com/wordpress/2009/11/28/mortgage-update-for-week-ending-112709/ For individuals and families looking for an opportunity to give back to the community this Thanksgiving, there are a number of volunteer opportunities available in the Austin area. By giving some of your time and effort to help those less fortunate, you can build a family tradition of caring ... http://www.affinityproperties.com/wordpress/2009/11/23/give-something-back-this-thanksgiving/ If you're an agent you should do some research on the proposed RPR or Realtors Property Resource. You can read about it here. http://www.inman.com/news/2009/11/12/mls-buy-in-key-nar-database?page=0%2C4 and here http://www.inman.com/news/2009/11/14/rpr-execs-under-fire-nar Below is a snippet from the 1000watt blog posted on Inman. If you'd rather a more concise description skip down past the quote. The NAR has taken over certain ... http://www.affinityproperties.com/wordpress/2009/11/22/realtors-property-resource-rpr-is-no-good/ Reports suggest that the real estate market is gradually recovering but at a snail’s pace. There are frequent upheavals and this is evident from the RECI or the Real Estate Confidence Index which keeps track of views and opinions of real estate agents as well as brokers and their “forward-looking” ... http://www.affinityproperties.com/wordpress/2009/11/19/important-aspects-of-home-refinance-option-guest-post/ On November 5, 2009, Congress approved an extension to the First-Time Homebuyer Credit, including changes designed to open up this valuable incentive to still more buyers. The bill’s main architects, Senators Chris Dodd and Johnny Isaksen, crafted the credit specifically to target the troubled housing industry and promote economic ... http://www.affinityproperties.com/wordpress/2009/11/16/congress-extends-and-expands-the-first-time-homebuyers-credit/ [caption id="attachment_720" align="alignleft" width="292" caption="solar panel qualifying for a solar incentive"][/caption] Will Austin be giving away free solar arrays? No, of course not, but a new program which allows home owners to obtain low interest loans to install solar arrays has begun. The program will allow people to cut their electric ... http://www.affinityproperties.com/wordpress/2009/10/28/solar-incentives/ In keeping with the goal of becoming a green state, Texas has strived forward, establishing itself as a leader in green energy. Recently there have been several alternative energy resources that people are watching closely, among them is wind energy. To some the results are astonishing; however to Texans it ... http://www.affinityproperties.com/wordpress/2009/10/26/alternative-energy-in-texas/ [caption id="attachment_721" align="alignnone" width="425" caption="Water treatment plant (activated sludge tank)"][/caption] The Austin city council has a battle brewing over water, or, more accurately, over a water treatment plant. A city the size of Austin needs water treatment plants. They have 3, and the push is on for a fourth. ... http://www.affinityproperties.com/wordpress/2009/10/25/austin-city-council-reaching-boiling-point-over-water-treatment/ Increase in construction billing is a positive sign, but spending will lag a while longer. The big factor is time-lag between billings and construction spending, which is between 9 and 12 months. A score below 50 indicates a decline in demand, and the current U.S. score is 43.1 for September, ... http://www.affinityproperties.com/wordpress/2009/10/24/construction-billing-up/ OK. so last week all of the Austin Board of Realtor members had to change in their dKeys for the new, the wonderful, the unnecessary ActiveKey. Why? I don't know. I loved my dKey. It was simple, small, had a great battery life, and worked. Yes, it did have to be placed ... http://www.affinityproperties.com/wordpress/2009/10/24/i-dont-have-time-for-a-complicated-mls-key/ The number 107 doesn’t seem like a big number when you are talking home sales. But when existing home sales increase; it can be a good sign. In Austin, that 107 totals 6%. That’s a 6% increase in sales from last September, and it does make the ... http://www.affinityproperties.com/wordpress/2009/10/22/austin-home-sales-up/ It’s not difficult to find mixed-use developments in any large city; Austin is no exception to this. At this moment, there is a developer that wishes to add another mixed-use development near the capitol. The project is called Capitol Terrace, and it is situated on the south-west ... http://www.affinityproperties.com/wordpress/2009/10/21/new-mixed-use-development/ When you are preparing to purchase a house it is crucial to know how much house you can afford. One of the best means of learning that is by going through the process of prequalification. This empowers you as the home buyer to know where to look and what you ... http://www.affinityproperties.com/wordpress/2009/10/16/prequalification-basics/ While many home loan companies banked on a rising housing bubble, the Federal Housing Administration (FHA) remained steady with regulations and guidelines. This has allowed them to continuously support middle and lower income families and their effort to move into a home. When the housing bubble broke, the FHA continued ... http://www.affinityproperties.com/wordpress/2009/10/13/the-fha-stands-solid/ The process of purchasing a home or property is often confusing enough without the industry jargon. In an effort to alleviate that confusion that comes from some of the jargon, below is a short list of terms and the meanings. In order to help further the understanding of terms associated ... http://www.affinityproperties.com/wordpress/2009/10/09/real-estate-terms/ Commercial real estate has been as strongly affected by the real estate decline as the residential real estate markets, for some areas more so. With this in mind many commercial real estate agent have alter approaches and watched the market for the best spots to focus on. The ... http://www.affinityproperties.com/wordpress/2009/10/08/commercial-real-estate-market-shift/ As many people today are inspired to enter into a business of their own, it is important to evaluate which business you enter. As many businesses have a 5 year window of make it or break it, there is one business that stays around year after year. Real estate investment, ... http://www.affinityproperties.com/wordpress/2009/10/03/why-real-estate-is-a-constant-market/ As with any investment, real estate has several categories to evaluate prior to making the best choice for your plans. In some cases the categories are broken down further, thus it is important to evaluate your goals, and your skills alongside the options available to find the best real estate ... http://www.affinityproperties.com/wordpress/2009/09/30/types-of-real-estate-investments/ Downtown Austin thrives with incredible growth and opportunity. With the growth and development there comes constant conflict. The downtown historical locations are being lost by all of the development. At this time, not one building in downtown Austin has been submitted for historical protection or landmark status. Also perplexing, ... http://www.affinityproperties.com/wordpress/2009/09/21/historic-vs-development/ At no time will your qualified real estate agent make an offer on your behalf until you have named the price you want to offer. Before making any offer you should take the time to investigate some of the information below prior to settling on a price for offer. Your ... http://www.affinityproperties.com/wordpress/2009/09/17/preparingtomakeyouroffer/ With every job you get, you have gone through an interview process; this should be no different for the real estate professional that you work with. This should apply to all contractors you select regardless of the work intended or designed for. Below is a short list of questions ... http://www.affinityproperties.com/wordpress/2009/09/16/interviewing-your-agent/ In every business and industry there is a concern for deceitful behavior. Real Estate is not an exception to this, unfortunately. Should you encounter something that concerns you, the best place to start is the Federal Trade Commission site. The site can provide critical information that can protect you and ... http://www.affinityproperties.com/wordpress/2009/09/02/avoiding-real-estate-scams-or-misnomers/ Over the last three years there has been sharp downswing in housing prices. In many markets the prices dropped out quickly, not stabilizing until only recently. As foreclosures rose, many didn't believe they housing market was going to stabilize any time soon. This thankfully, has not proven to be the ... http://www.affinityproperties.com/wordpress/2009/08/24/real-estate-recovery/ In real estate, as with any investment, the last thing you want to find is that you are on the wrong end of the deal that should have been equal. There are ways to avoid common pitfalls and simple misunderstandings. The first thing to keep in mind when approaching the investment, ... http://www.affinityproperties.com/wordpress/2009/08/19/common-real-estate-pitfalls-and-how-to-avoid-them/ Once you have established you are the owner of the foreclosure property, have reviewed it with your agent and lawyer you are faced with a significant choice. Should you evict the current tenants or should you continue with the lease they have already? Do you want to initiate a new ... http://www.affinityproperties.com/wordpress/2009/08/16/foreclosure-rental-property-purchased-with-tenant/ If you've conducted meticulous investigations on a foreclosure home and effectively placed the winning offer at public auction, it may still take time to be able to move in or start making repairs. There's a possibility the previous owners of the newly purchased property may yet be living there, making ... http://www.affinityproperties.com/wordpress/2009/08/15/purchasing-a-home-at-foreclosure-eviction-prep-and-tips/ Refinancing is on the minds of many, even today. There are several options available and we've worked out a short list to assist in determining what would be the best choice for you. First list your goals for the refinance. This includes even the most simple or obvious reasons. It is ... http://www.affinityproperties.com/wordpress/2009/08/10/considering-refinancing/ Many small businesses find that sharing a facility with other companies, while receiving the same benefits available to many large corporations, to be an economical and reasonable solution for their business needs. Which benefits are used here? The option to share copy costs, energy pricing and in some cases, ... http://www.affinityproperties.com/wordpress/2009/08/05/green-commercial-option-business-office-centers/ You can listent to a former CBS anchor and Austinite in the know... Neil Spelce. From the Neil Spelce Austin Letter.... Volume 31, Number 12 June 19, 2009 Dear Client: One of the least-discussed aspects of getting a home loan is becoming an impediment to an efficient closing of a home sale in the ... http://www.affinityproperties.com/wordpress/2009/07/31/so-you-dont-have-to-beleive-me-when-i-rant-about-hvcc/ United States new home sales numbers have continued to increase between May and June. The numbers made available by the US Commerce Department appear to reflect a market recovery. Between May and June the sales of single family homes increased 11 percent alone. This jump indicates a third consecutive increase, and ... http://www.affinityproperties.com/wordpress/2009/07/30/recovery-signs-begin/ As companies downsize their budgets, commercial loans have defaulted by more than double over the last year. It is currently at 7% which is double the default rate from the previous year, but that does not stop there, the rate increases will harm small and regional sized banks. As the ... http://www.affinityproperties.com/wordpress/2009/07/23/commercial-loans-down-commercial-deals-abound/ A real estate appraisal is the determination of the value of a property. This is based the best use of the real estate property, translating into the fair market value of the property. The person who executes this is a real estate appraiser. The value determined by this appraiser is ... http://www.affinityproperties.com/wordpress/2009/07/16/real-estate-appraisal-%e2%80%93-is-it-for-you/ This message is to alert you to changes in the federal Truth-in-Lending Act regulations, which will have an impact to every mortgage provider.  It will require a fundamental change to how we finalize loan terms for the borrower prior to closing. Changes at the closing table could require the borrower ... http://www.affinityproperties.com/wordpress/2009/07/08/mortgage-disclosure-information-act-effective-july-30th/ 1. Affordability is available at the moment. Austin home prices have remained constant regardless of the national results. There is no reason to consider they will lose considerable value. 2. There is a huge selection available. 3. Historically low Mortgage rates are beginning to climb. This effects your monthly budget. 4. Federal Tax ... http://www.affinityproperties.com/wordpress/2009/07/03/four-good-reasons-to-buy-in-austin-soon/ Since 2008 there have been 5 major regional cities that have fared very well through this recession. Among the 5 Austin of course struck well. Brookings reviewed the gross metropolitan product output for San Antonio, Austin, Houston and Dallas in Texas, and Oklahoma City, Oklahoma. It is no surprise as ... http://www.affinityproperties.com/wordpress/2009/06/18/brookings-report-ranks-austin/ Of the Top 10 places in the country to live, Austin has always ranked high or at the top. This has not changed. The research done at Forbes has once again found Austin tops, in this case it is tops for being one of the best places to stretch your ... http://www.affinityproperties.com/wordpress/2009/06/17/forbes-austin-is-the-most-affordable-city-in-the-country/ There are many major cities across the United States. With 2008's turbulent job market, only one major metropolitan area had an increase in the job market. That city was home, Austin, Texas. According to the Bureau of Labor this is the third month that Austin has out preformed all of ... http://www.affinityproperties.com/wordpress/2009/06/07/austin-increased-jobs-in-2008/ For the last 4 years the Austin Starr Building, a large imposing building in downtown, has stood empty. All of this is no longer true. This 55 year old building is getting a face lift and a new resident. Kemp Properties is currently in the process of closing the deal ... http://www.affinityproperties.com/wordpress/2009/06/02/commercial-real-estate-sale-starr-building/ April brought some of the biggest gains in the US home buyer market. The number of home buyers who have agreed to purchase a previously owned home took the biggest gains by leaps and bounds in the month of April. Historically, it is the largest jump in previously owned homes ... http://www.affinityproperties.com/wordpress/2009/05/30/pending-home-sales-jump-in-april/ Ok. So I know that lawmakers need to feel important and thus create tons of rules, lingo, processes, etc so that no layman can figure out what the hell is going on without actually getting elected, but I was trying to figure this out today and thought maybe someone out ... http://www.affinityproperties.com/wordpress/2009/05/28/what-gives-to-audit-or-not-or-when-will-us-average-joes-know/ It has not been a fruitful few years in regard to any housing market. The current recession that continues to plague the nation was first indicated through an enormous surge in foreclosures. Not long after the housing bubble burst, unemployment took its turn at rising to levels not seen in ... http://www.affinityproperties.com/wordpress/2009/05/28/recent-austin-market-conditions/ An amendment attached to a solar bill that’s steaming through the Legislature could torpedo a City of Austin energy efficiency program. The Austin rule taking effect June 1 requires Austin homes receiving electricity from Austin Energy to have an energy audit before being sold. (Homes can be exempted for a number ... http://www.affinityproperties.com/wordpress/2009/05/21/recent-development-in-austins-energy-audit-ordinance/ The department of Housing and Urban Development, HUD, is updating the stimulus package of 2009. In that economic stimulus package, there was an 8 thousand dollar tax credit allotted for first time home buyers. The intention was to offset the cost of closing a home mortgage. Unfortunately, due to the ... http://www.affinityproperties.com/wordpress/2009/05/20/hud-is-helping-new-home-buyers/ The new home valuation code of conduct is a lazy tool of weak minds. If you can't stand by your estimation of value in the face of scrutiny, then maybe you should be changing your values. And if you don't like working for a bank that pressures you to inflate ... http://www.affinityproperties.com/wordpress/2009/05/20/my-rant-on-the-home-value-code-of-conduct/ As the green movement has taken hold of the nation, Austin has endeavored to stand before the trends. Years ago Austin took the stand to become the most green oriented city in the country, and as a whole a greener Austin is surfacing. To help this along, the local government ... http://www.affinityproperties.com/wordpress/2009/05/12/austins-green-resources/ Thirty-year mortgage rates fell to 4.78% last Friday, hitting their lowest level since Freddie Mac started tracking rates in 1970.One-year Adjustable Rate Mortgages (ARMs) were almost the same, at 4.77%. http://www.affinityproperties.com/wordpress/2009/05/08/quick-mortgage-rate-update/ June first is just days away, are you ready for the energy efficiency ordinance? The city of Austin's Energy Efficiency Ordinance requires energy audits are conducted and disclosed for a vast majority of properties listed with in Austin City Limits. If you are wondering about your home, or the ordinance, ... http://www.affinityproperties.com/wordpress/2009/05/05/energy-efficiency-ordinance-in-austin/ Austin's first quarter is shining bright. As April closes, the Austin residential housing market is seeing markedly less inventory. More homes have sold than have been place on the market. This is one of very few areas in the country to be able to state this. This will soon prove ... http://www.affinityproperties.com/wordpress/2009/05/01/austin-is-setting-the-pace/ The race for Mayor of Austin is certainly heating up as voting day draws nearer. One of the top candidates is Carole Keeton Strayhorn, former Texas Comptroller of Public Accounts. She is the first woman elected mayor in Austin, and the first mayor to be elected for three successive terms. ... http://www.affinityproperties.com/wordpress/2009/04/25/meet-carole-keeton-strayhorn-former-and-future-mayor/ The new Mayor of Austin will be facing some serious issues when elected. David Buttross feels that he can handle the job. As a graduate of both a local high school and the University of Texas, Buttross has made Austin his home for many years. He received his real estate ... http://www.affinityproperties.com/wordpress/2009/04/23/meet-david-buttross-running-for-austins-mayor/ Like every city in the nation these days, Austin is facing some difficult choices. Amidst economic worries and budget concerns, Austinites are faced with the task of electing a new Mayor. Lee Leffingwell, a current City Council Member, has placed his name into the race. Leffingwell in an Austin native, graduate ... http://www.affinityproperties.com/wordpress/2009/04/22/meet-lee-leffingwell-running-for-austins-mayor/ Austin has been a front runner for green living almost since the topic became a mainstream ideal. The city has created many incentives for homeowners to select a more energy efficient way of life. As a way of continuing this venture, Austin has recently signed into law an ordinance that requires ... http://www.affinityproperties.com/wordpress/2009/04/18/new-ordinance-creates-green-living/ Starting this June, those who wish to sell a home in Austin will be required to have their home inspected for energy efficiency. This new ordinance does not require the seller to upgrade any leaks or other problems that may be found, but it does state that the buyer be ... http://www.affinityproperties.com/wordpress/2009/04/17/energy-audit-and-disclosure-in-austin/ Like many cities in the nation, Austin is facing some serious issues that need to be handled by a new Mayor beginning in May. There are several candidates to choose from this election, including two that currently sit on the Austin City Council. McCracken has been an intense supporter of ... http://www.affinityproperties.com/wordpress/2009/04/15/meet-brewster-mccracken-running-for-mayor/ These days, it has become very important to keep the environment in mind with pretty much every aspect of our lives. With so much emphasis on green living, it can sometimes be difficult to know if the choices that you make are actually eco-friendly. Of course, there are the obvious, ... http://www.affinityproperties.com/wordpress/2009/04/14/how-do-you-know-if-you%e2%80%99re-living-green/ It may seem like a little thing when you think about it. The address number on a residence is probably one of the last things on your to do list. You know your address, what does it matter if someone can't see it from the road? Consider this, however, for ... http://www.affinityproperties.com/wordpress/2009/04/09/house-bill-2665-and-the-application-to-you/ By MICHELLE CHAPMAN and J.W. ELPHINSTONE AP Business Writers NEW YORK -- In a deal that will create the nation's biggest homebuilder, Pulte Homes Inc. is buying Centex Corp. for $1.3 billion in stock as both companies try to survive the worst real estate recession in a generation. The transaction, which also ... http://www.affinityproperties.com/wordpress/2009/04/08/pulte-buys-centex-in-all-stock-deal/ It is certainly no secret by now that we are in a recession. The start of our current situation was first recognized when the national real estate market began to flounder on 2007. While some areas of the country were hit harder than others, Texas has stayed fairly level throughout ... http://www.affinityproperties.com/wordpress/2009/04/07/texas-housing-market-remains-healthy/ The state of Texas has a much better unemployment rate than the nation does at this moment. Several strong city economies have helped to keep Texas below the 7% unemployment rate thus far. Austin, for example, has an unemployment rate of less than 4%, and has actually managed to create ... http://www.affinityproperties.com/wordpress/2009/04/04/unemployment-worsens-in-rio-grande-valley/ It should be no secret by now that Austin and its surrounding areas have fared well throughout the recession. The city has been named to numerous Top Ten lists in magazines such as Forbes, and online on various websites. The plans for downtown reconstruction and remodeling will only serve to ... http://www.affinityproperties.com/wordpress/2009/03/30/austin-home-prices-increase-despite-economy/ Under the American Recovery and Reinvestment Act of 2009, approximately $10 billion in purchase funds are now available for the Rural Development Single Family Housing Guaranteed Loan Program (SFHGLP). Beginning Friday, March 27, 2009, the Rural Development program will be re-activated! Here's a glimpse of what USDA can offer: 102% loan-to-value - ... http://www.affinityproperties.com/wordpress/2009/03/27/a-loan-option-that-not-everyone-knows-about/ The housing market is where we first started to see the inkling of a recession. For several years, lenders had offered mortgage options for those with less than perfect credit, including adjustable rate mortgages and $0 down payments. The result of which is our current real estate market. Homeowners began ... http://www.affinityproperties.com/wordpress/2009/03/23/mortgage-applications-increasing/ There are a number of factors to consider when setting the price for a property and appraisal is just one of those factors. While a home owner would want the appraised value to be low, thus keeping the taxes on the property low, the same home owner, if trying to ... http://www.affinityproperties.com/wordpress/2009/03/21/priced-to-sell-but-how/ Austin has been called one of the Top Ten Recession-Proof cities, but that does not mean the city hasn't been affected by our nation's economic woes. February saw an astounding 67% increase in foreclosure listings from the previous month. While some of this jump has been attributed to the fact ... http://www.affinityproperties.com/wordpress/2009/03/19/foreclosures-reach-a-new-high/ § § § § § § § § § § From Green Building Talk Getting Into Hot Water: Solar Water Heating Pays For Itself Five Times Over An analysis of the engineering and economics for a solar water-heating system shows it to have a payback period of just two years, according to ... http://www.affinityproperties.com/wordpress/2009/03/17/daily-real-estate-news-03-17-09/ I am pretty much addicted to magazines and newsletters about a few things. Green building, architecture, home stuff, computers, and real estate. I thought I'd finally put some of my subscriptions to wider use and share a few links every day on this blog and on my West Austin real ... http://www.affinityproperties.com/wordpress/2009/03/16/new-blog-posts/ The United States has been gripped in an economic downfall for years. The first and most dramatic show of the dwindling economy has been the national real estate market. Home foreclosures have risen so dramatically that the Federal government has had to bailout several financial institutions and in the process ... http://www.affinityproperties.com/wordpress/2009/03/15/us-foreclosures-create-good-deals-for-foreign-buyers/ Austin has been working intensely on creating a competitive downtown area that will encourage commercial and residential growth. A large contributor to this goal is the increase in mixed use properties downtown. Many have excellent prelease arrangements for retail space, office space, and apartments. While the nation struggles to maintain ... http://www.affinityproperties.com/wordpress/2009/03/11/mixed-use-properties-help-austin%e2%80%99s-goals/ The real estate market was where we first noticed a problem. Nationwide, homeowners began to fall behind on mortgages that may have been the epitome of poor lending practices. It has been a whirlwind for about two years now. According to a report by Foreclosure Listing Service, Inc. the numbers ... http://www.affinityproperties.com/wordpress/2009/03/09/foreclosures-are-up-in-central-texas/ Austin has been a city to invest in for years, and a recent report from the Association of Foreign Investors in Real Estate shows that Austin is still high on the list. With a shaky global economy, many investors have chosen a wait and see attitude before placing money into ... http://www.affinityproperties.com/wordpress/2009/03/07/foreign-investors-still-love-austin/ The state of Texas has fared better than the nation since the economic crisis began. While the country has struggled with massive foreclosures and rising unemployment rates, Texas has maintained numbers above the national average. The state has learned from previous recessions how to effectively manage loans and mortgages. While ... http://www.affinityproperties.com/wordpress/2009/03/05/obama%e2%80%99s-plan-less-needed-in-texas/ The economy has not just affected home sales throughout the country. Commercial and industrial real estate has also been severely affected by the weakening market. Many businesses have been forced to sublet space to make up for dwindling income. In the industrial market, sales have reduced less than residential, but ... http://www.affinityproperties.com/wordpress/2009/03/03/industrial-real-estate-sale-shows-market-woes/ The real estate market nationwide has suffered for more than a year. Every day, we hear about more foreclosures on residential and commercial properties. There are some markets that have not been affected as harshly as others. Austin is just such a place. Though the market has certainly slowed during ... http://www.affinityproperties.com/wordpress/2009/03/01/latest-real-estate-market-for-austin/ For Immediate Release Contact: Corinne Russell (202) 414-6921 February 24, 2009 Stefanie Mullin (202) 414-6376 ### The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.3 trillion in funding for the U.S. mortgage markets and financial institutions. RECORD HOME PRICE ... http://www.affinityproperties.com/wordpress/2009/02/27/federal-housing-finance-agency-news-release-austin-rocks/ There are many people who would love to remodel their homes in order to reduce energy use and save money. It can be costly, however, and this can prevent some from doing so. Austin has recognized this problem and has created programs for low to middle income families who wish ... http://www.affinityproperties.com/wordpress/2009/02/27/austin-offers-remodeling-incentives/ HUD has just announced the new (old) FHA loan limits: SFR/Condos - $288,750 2-units - $369,650 3-units - $446,800 4-units - $555,300 This essentially takes us back to last year’s loan limits! Conventional conforming limits stay the same at $417,000. FHA is expected to account for almost 40% of all loans originated ... http://www.affinityproperties.com/wordpress/2009/02/26/new-hud-fha-loan-limits-announced/ The city of Austin has been thinking about the environment for quite some time now. There are many incentives given by the city to encourage residents to reduce energy usage. Whether building a home, or remodeling, it is always a good idea to check with the city to see what ... http://www.affinityproperties.com/wordpress/2009/02/23/recycling-your-old-refrigerator/ Austin has proven itself a city at the forefront of the green revolution since it has begun. Many local builders have educated themselves about, and put to good use, sustainable resources and green technologies. It takes more than that to be a successful builder, especially in an area where the ... http://www.affinityproperties.com/wordpress/2009/02/21/green-synergy-projects/ Homes are not the only buildings that can be built or renovated with the environment in mind. Commercial buildings from hotels to malls to public attractions have just as much "green" capability. If you're in the commercial market, it's your responsibility, as a forward-thinking member of society, to develop your ... http://www.affinityproperties.com/wordpress/2009/02/19/how-to-be-green-in-the-commercial-world/ Downtown Austin is under construction. As the national commercial market continues to struggle, Austin is still a perfect spot for companies and investors. The workforce is strong here, and unemployment has stayed low despite the national increase. The city has undertaken several plans to better the area downtown for residents ... http://www.affinityproperties.com/wordpress/2009/02/15/mixed-use-property-to-open-in-summer/ We are in a very tough economy right now. In the past couple of years, the housing market has been at the forefront of this. Home values have dropped so significantly in some areas, many homeowners face a current mortgage loan worth more than their home. Foreclosures have increased nationwide, ... http://www.affinityproperties.com/wordpress/2009/02/11/home-sales-looking-up/ What Did Interest Rates Do This Week? ** according to Freddie Mac ** 30-yr Fixed – Higher This Week:  5.25% Last Week:  5.10% 1yr Ago:  5.67% 15-yr Fixed – Higher This Week:  4.92% Last Week:  4.80% 1yr Ago:  5.15% 5/1 ARM – Relatively Unchanged This Week:  5.26% Last Week:  5.27% 1yr Ago:  5.21% Highlight of This Week’s Major Economic ... http://www.affinityproperties.com/wordpress/2009/02/09/2609-mortgage-market-week-in-review-from-your-mortgage-advisor/ Austin has been at the forefront of the green movement since it began. Many local builders have taken the time to learn green building techniques and guidelines. Some even offer green remodeling now to older homes. A green home is one that uses less energy and water, but that doesn’t ... http://www.affinityproperties.com/wordpress/2009/02/05/gorgeous-views-and-green-living/