Our team ran stats against the foreclosure counts published last week here on the blog. They are real. Up to 306 properties from 209 in August. So we have confirmed the foreclosure counts for Williamson County and have also done some research around this issue. It would appear that the secondary market investors are calling in their chips on a broad scale. Many lenders are now being asked to foreclose on delinquent loans rather than seasoning them to protect property values. This would explain the sudden rise in foreclosures that we have noted.
If you have considered selling, now may be the best time rather than waiting. If this trend of flooding the market with foreclosures here in Central Texas continues, we could start experiencing value losses. We have been able to weather the storm of the economic downturn nicely to this point, BUT that could change as well.
If you are in the market to sell, or if you have tried to sell unsuccessfully recently, call us today and let us work out a marketing plan for you that will work!
Like to know more? Call us at the The HBH Group Realty Team with Keller Williams Realty. You may learn more about us at our websites located at: http://www.TheHBHGroup.com/ and http://www.TheHBHGroup.biz/ or contact our offices at (512) 439-3772 or toll-free at (877) 268-1877. We teach a monthly property investment seminar in the Greater Austin area and YOU ARE INVITED to this FREE event. Simply call our offices to reserve you seats! Also ask about the investors club that we are forming in the North Austin markets currently - We would love to have you participate!
Other articles on Property Investment:
CLICK HERE to view our current Virtual Tours of properties on one of the team's web sites.
Here are some other Buyer's Resources from Our Website: Seven steps to buying your home
Deciding how much house you can afford Making your home wish list Opting for new home construction
How can a real estate agent help me? 10 things you should ask a real estate agent
Location, Location, Location Mortgage Calculator Contact us about buying your home
And some seller's resources as well:Eight steps to selling your home
How can a real estate agent help me sell my home Practicing good seller's etiquette
How to price to sell and still make a profit Understanding the buyer Increasing your home's appeal
Mortgage Calculator Contact us about selling a property
The HBH Group/HBH Property Management
101 E. Old Settlers Blvd., Suite 190
Round Rock, TX 78664
To contact us:
Phone: 512-439-3772 Toll-Free: 877-268-1877 Fax: 512-579-4248
E-mail: info@TheHBHGroup.com
Websites: http://www.TheHBHGroup.com/
http://www.TheHBHGroup.biz/
Blogs: http://wcrestate.blogspot.com/
http://www.RoundRockRealEstateBlog.com/
NAHB Housing Market Index Shows Promise for Recovery Now
According to the National Association of Home Builders, it would appears that our national housing market is recovering nicely. This index echoes almost exactly the business trends that my team and our office are seeing here in Texas. Since April-May of this year, the market has been strong. In fact, it appears as though my real estate team may have our best business month in 8 years in September of 2009. Take a look at the numbers from NAHB.
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Housing Market Index |
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| 2008 | 2009 | ||||||||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug |
| 19 | 20 | 20 | 20 | 19 | 18 | 16 | 16 | 17 | 14 | 9 | 9 | 8 | 9 | 9 | 14 | 16 | 15 | 17 | 18 |
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Housing Market Index Components |
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| 2008 | 2009 | ||||||||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug |
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Single-Family Sales: Present |
|||||||||||||||||||
| 19 | 20 | 20 | 18 | 17 | 17 | 15 | 16 | 17 | 14 | 9 | 8 | 6 | 7 | 8 | 12 | 14 | 14 | 16 | 16 |
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Single-Family Sales: Next 6 Months |
|||||||||||||||||||
| 28 | 27 | 26 | 30 | 28 | 27 | 23 | 24 | 28 | 19 | 18 | 16 | 17 | 15 | 15 | 24 | 27 | 26 | 26 | 30 |
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Traffic of Prospective Buyers |
|||||||||||||||||||
| 14 | 19 | 19 | 19 | 18 | 16 | 12 | 13 | 14 | 11 | 7 | 7 | 8 | 11 | 9 | 13 | 13 | 13 | 13 | 16 |
Source: NAHB/Wells Fargo, Builders' Economic Council (BEC) Monthly Surveys
The housing market is moving again and 2010 may be a STRONG year! Now is the time to buy if you have been waiting. Market pricing may start to move up in coming months as demand grows, so if you are on the fence - Get off!
We should start searching for your new home today! Call us at the The HBH Group Realty Team with Keller Williams Realty. You may learn more about us at our websites located at: http://www.TheHBHGroup.com/ and http://www.TheHBHGroup.biz/ or contact our offices at (512) 439-3772 or toll-free at (877) 268-1877.
Join us in the Williamson County Real Estate Investors Association meetings held monthly in this area. YOU ARE INVITED to this FREE event. Simply call our offices to reserve your seats! We would love to have you participate!
Other articles on Property Investment:
CLICK HERE to view our current Virtual Tours of properties on one of the team's web sites.
Here are some other Buyer's Resources from Our Website: Seven steps to buying your home
Deciding how much house you can afford Making your home wish list Opting for new home construction
How can a real estate agent help me? 10 things you should ask a real estate agent
Location, Location, Location Mortgage Calculator Contact us about buying your home
And some seller's resources as well:Eight steps to selling your home
How can a real estate agent help me sell my home Practicing good seller's etiquette
How to price to sell and still make a profit Understanding the buyer Increasing your home's appeal
Mortgage Calculator Contact us about selling a property
The HBH Group/HBH Property Management
101 E. Old Settlers Blvd., Suite 190
Round Rock, TX 78664
To contact us:
Phone: 512-439-3772 Toll-Free: 877-268-1877 Fax: 512-579-4248
E-mail: info@TheHBHGroup.com
Websites: http://www.TheHBHGroup.com/
http://www.TheHBHGroup.biz/
Blogs: http://wcrestate.blogspot.com/
http://www.RoundRockRealEstateBlog.com/
The clock is ticking on the first-time home buyer tax credit, which expires on December 1, 2009. However, more time is needed to continue to stimulate housing, which will play a big role in fixing the national economy.
If Congress acts to extend the tax credit program, it would spur 383,000 additional home sales, including 80,000 housing starts down the road as additional sales help deplete the inventory of unsold homes. This stimulus will create nearly 350,000 jobs over the coming year. That's good for the economy and good for America.
How You Can Help Call your members of Congress today toll-free at 866-924-6242 and tell them to:
Thank you for your help in letting Congress know that to restore America, we must revive housing.
It would appear that the lenders have now been cleared to foreclose at will on late paying mortgage 
customers. Based on recent activities within the area, and short sales that our office is currently working, homes that we were told were not going to the county foreclosure sale for months yet, have been placed on the list for September. I ran numbers yesterday and we are up 46% in foreclosure count from August of 2009.
The impact of this practice if continued, could be disastrous on property values. Our market has been fairly strong since the spring here with the buyers very active and properly priced properties moving in 30-60 days. We are encouraging our sellers that have been on the fence to list now rather than wait to hopefully beat any downturn in values that may be ahead resulting from increased forclosure activity. If you are considering selling, call us sooner rather than later. In recent months, our listings have been selling quickly and at 99%+ of list price.
Like to know more? Call us at the The HBH Group Realty Team with Keller Williams Realty. You may learn more about us at our websites located at: http://www.TheHBHGroup.com/ and http://www.TheHBHGroup.biz/ or contact our offices at (512) 439-3772 or toll-free at (877) 268-1877. We teach a monthly property investment seminar in the Greater Austin area and YOU ARE INVITED to this FREE event. Simply call our offices to reserve you seats! Also ask about the investors club that we are forming in the North Austin markets currently - We would love to have you participate!
Other articles on Property Investment:
CLICK HERE to view our current Virtual Tours of properties on one of the team's web sites.
Here are some other Buyer's Resources from Our Website: Seven steps to buying your home
Deciding how much house you can afford Making your home wish list Opting for new home construction
How can a real estate agent help me? 10 things you should ask a real estate agent
Location, Location, Location Mortgage Calculator Contact us about buying your home
And some seller's resources as well:Eight steps to selling your home
How can a real estate agent help me sell my home Practicing good seller's etiquette
How to price to sell and still make a profit Understanding the buyer Increasing your home's appeal
Mortgage Calculator Contact us about selling a property
The HBH Group/HBH Property Management
101 E. Old Settlers Blvd., Suite 190
Round Rock, TX 78664
To contact us:
Phone: 512-439-3772 Toll-Free: 877-268-1877 Fax: 512-579-4248
E-mail: info@TheHBHGroup.com
Websites: http://www.TheHBHGroup.com/
http://www.TheHBHGroup.biz/
Blogs: http://wcrestate.blogspot.com/
http://www.RoundRockRealEstateBlog.com/
A campaign to extend and expand the housing tax credit officially got underway on Capitol Hill last month.
Bills have now been introduced in both the Senate and the House to open up the credit, to all buyers, keep it on the books through next year, and get rid of the current income limitations.
On the House side, two Texas congressional representatives - one a Democrat, the other a Republican - have filed bills calling for a broadening of the first-time buyer credit to cover all home purchasers in the coming year, whether they already own houses or not.
Democratic Congresswoman Eddie Bernice Johnson of Dallas wants to extend the November 30 expiration date for the credit through the end of 2010. Her bill would also remove the income limits of the current program, which start phasing down the amount of the credit at $75,000 for singles and $150,000 for married couples.
Johnson's Republican colleague from the Dallas-Ft. Worth area, Kenny Marchant, also introduced a bill that would open up the credit to all buyers, without income limits, but only through June of next year.
But Congressman Marchant's bill adds a whole new element to the mix - a $3,000 tax credit for people who refinance their home loans. Why? Marchant says the idea is to encourage more people to "take advantage of (today's) low mortgage rates," or to use the money to build equity in their homes "if they're a little underwater."
In the Senate, Georgia Republican Johnny Isakson introduced a bill last week that would nearly double the maximum credit to $15,000, open to anyone who buys a house, regardless of income.
Isakson, who's a former realty company executive, has pushed for a $15,000 credit before - most recently during debate over the national economic stimulus package last February. Congress didn't buy it.
Meanwhile, the influential "Business Roundtable" lobby group, which represents some of the largest corporations in the country, urged Congress last week to broaden the credit to $15,000 -- along the lines suggested by Isakson.
So with the big push for a larger and longer tax credit getting underway, should potential home buyers assume these efforts are going to be successful and worth postponing a purchase?
Probably not.
None of the bills is likely to get much attention from the tax committees in the House or Senate until the Fall - maybe a month or two before the November 30 expiration date for the first-time buyer credit.
Although a short-term extension of the $8,000 credit is a distinct possibility, opening up the program to all buyers will be an uphill battle.
Written by Kenneth R. Harney
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Real estate broker specializing in real estate investing, both commercial and residential. I service the communities of Round Rock, Georgetown, Cedar Park & Pflugerville, Texas.
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