Mortgage Rates Hit 40 Year Low!!
Last Updated on Saturday, 17 September 2011 02:10 Written by Shane Robson Saturday, 17 September 2011 02:01
If competitive home values, motivated sellers and already very low mortgage rates aren’t compelling enough to pull the trigger to buy in Austin, perhaps this news will.
According to a survey released by Freddie Mac on 9/15/11, mortgage rates hit 40 year record lows and is thought to be a result of European debt worries. 30 year fixed rates are now only at a staggering 4.09% and a 15 year loan dropped to 3.3%.
The difference between 4% range interest rates and 5% interest rates may not sound like much. However, it can add up to a huge savings over the course of a loan. For example, saving 1% in interest for a 30 yr fixed mortgage on a $200,000 loan will save you about $100/month of your payment and a total of $44,000 in interest over the course of the loan.
If you’ve been on the fence about buying and this isn’t compelling enough to get you off the fence and take action, you’ll basically be throwing away an opportunity of a lifetime. To take advantage of these rates, call me today and lock in the savings for the life of you’re loan.
Mortgages & Interest Rates Explained in 3 Minutes
Last Updated on Friday, 10 June 2011 09:55 Written by Shane Robson Tuesday, 31 May 2011 12:02
April 2011 Austin Real Estate Market Statistics
Last Updated on Friday, 10 June 2011 09:55 Written by Shane Robson Monday, 23 May 2011 11:43
April 2011 Austin Real Estate Market Statistics
Austin Home Sales Volume Down Due to Tax Credit; Price Continues to Slowly Rise
Austin Board of REALTORS® Releases April 2011 Real Estate Statistics
May 19, 2011 - According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, 1,690 single-family homes were sold in the Austin area in April 2011, 16 percent fewer than the same month of the prior year when the federal homebuyer tax credit expired. At the same time, the median price for Austin area homes was $196,400, three percent more than April 2010.
Judith Bundschuh, Chairman of the Austin Board of REALTORS®, commented on the report, “As has been the case for all of this year, comparisons of year-over-year sales volume are skewed due to last year’s homebuyer tax credits. That’s particularly true for this month, since the most expansive tax credit expired on April 30, 2010, creating a surge in demand that month.”
In April 2011, homes spent an average of 88 days on the market, 28 percent longer than April 2010, but the shortest “days on market” figure in the Austin area since September 2010.
Additionally in April 2011, new listings were down 25 percent, active listings were down 10 percent and pending sales were down 27 percent compared to April 2010.
Chairman Bundschuh continued, “Given that only 16 percent fewer homes were sold in April 2011 than April 2010 without the benefit of a tax credit and that prices for Austin area homes continue to rise, we’re encouraged at the health and strength of our market.”
The volume of leasing activity in the Austin area tapered off in April 2011 with 1,117 properties leased, three percent fewer than April 2010, while the median price for lease property was $1,250, six percent more than April 2010.
April 2011 Statistics
| $458,676,140 | — Total dollar volume of single-family properties sold, four percent less than April 2010. |
| $196,400 | — Median price for single-family homes, three percent more than April 2010. |
| 1,690 | — Single-family homes sold, 16 percent less than April 2010. |
| 88 | — Days on market, 28 percent longer than April 2010. |
| 3,330 | — New single-family home listings on the market, 25 percent less than April 2010. |
| 9,679 | — Active single-family home listings on the market, 10 percent less than April 2010. |
| 2,054 | — Pending sales for single-family homes, 27 percent less than April 2010. |
The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,500 licensed REALTORS® in Central Texas. Visit AustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market. For more information, please contact Angela Brutsché at 512-454-7636.
