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Austin Real Estate Eye - March 2011
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Check out the updates from 512HomesForSale.com/
February 2011 – Austin, TX Area Real Estate MLS Stats – ACTRIS (Entire MLS)
This Month in Real Estate March 2011- Real Estate News Video
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This Weeks Mortgage Rates 2011-03-07
January 2011 - Austin, TX Area Real Estate MLS Stats - ACTRIS (Entire MLS)
April 18th, 2011 Federal Tax Dates
Use a Roth IRA to save for your first home
Travis County, Williamson County and Hays County Homestead Exemption Forms
Call me for all Austin Real Estate needs & questions: 512-589-7308

March 2011 Market Update
Gradual progress in the housing market continues at a steady pace without government support. The market has shown remarkable improvement from the initial drop after the expiration of the home buyer tax credit this past July. Although higher-than-normal distressed sales skew the overall picture of home prices downward, inventory continues to shrink and sales continue to rise. The rock-bottom interest rates of 2010 are likely to trend upward. As economists anticipate rates at or above 6% by the end of 2012, buyers are moving off the sidelines and into the market.
A good sign for long-term market stability is that the median down payment on conventional mortgages has risen to 22%, up from 4% in 2006 and slightly above the 20% standard in the 1990s. This may keep buyers looking in slightly lower price ranges, but it is a good sign of future sustainability for homeowners and banks alike. There are still ample opportunities for those who would like down payments below 20%, including some conventional mortgages and those backed by the Federal Housing Administration, Veterans Affairs, and the Department of Agriculture’s Rural Development loans.
As the economy improves, stimulus efforts by the government and the Federal Reserve Board will gradually wind down, which typically means rising interest rates. Meanwhile, buyers continue to benefit from historically favorable buying conditions and sellers are encouraged by increased market stability.
Home Sales
in millions
The increasing trend in existing home sales activity continued through January, and for the first time rose above year-ago levels when the home buyer tax credit was in effect. This marks the sixth monthly increase since July when the tax credit expired, and indicates a recovery that’s gaining a firmer footing without government support.

Home Price
in thousands
Home prices softened in January with median home prices decreasing slightly to $158,800 - 3.7% below the year-ago level. Contributing to this is a larger share of distressed homes sales, which accounted for 37% of sales in January compared to 30%-35% throughout much of 2010. Prices and mortgage rates remain favorable for buyers.

Inventory- Month's Supply
in months
The uptick in home sales and a shrinking inventory pared down the month’s supply to 7.6 months, a decrease of 7.3% from December and 1% from year-ago levels. This is the lowest level in more than a year and marks the first time since July that the month’s supply is below where it was the previous year. Months of inventory has declined steadily (64%) from its peak of 12.5 months in July and is now back to pre-tax credit expiration levels. The supply of inventory is not far from a seller’s market, which is less than 6 month’s supply.

Source: National Association of Realtors - housing data released Feb 23.
Interest Rates
Mortgage rates jumped above 5% for the first time since April 2009 in January. While rates dipped back to just below 5%, they are expected to continue an upward trend throughout the year. As overall economic recovery remains on track, rates will likely rise to keep inflation in check. Buyers wanting to capture the savings in monthly payments that a historically low interest rate affords are expected to take advantage of excellent buying conditions.

Source: Freddie Mac, Rates as of Mar 3.
This Month's Video

Topics For Home Owners, Buyers & Sellers
Preparing your home for sale in a buyer’s market can seem daunting, but these five tips will help you get the best price in the least amount of time.
Organizing and cleaning is crucial when prepping a home for sale. Potential home buyers have a more positive reaction to homes that are clutter-free and give them the feeling that the home is “move-in ready.”
Presale home inspection can inform you of any trouble areas within your home that can stand out to potential buyers. An inspection can also help you make any repairs necessary before future open houses.
Determine replacement estimates before listing your home, even if you are not planning on making the replacements yourself. This information can help buyers to make informed decisions.
Have your warranties ready – especially for all those home appliances

Tierra del Fuego has since the 1970s benefited from government subsidies to local industry and from its natural wealth. Its estimated 2006 output of US$2.6 billion gave the province a per capita income of US$25,700, second in Argentina only to the city of Buenos Aires itself and almost three times the national average.

Manufacturing, despite the province's remoteness, contributes about 20% to output owing partly to generous certain tax incentives to local industry, a policy Buenos Aires has pursued to encourage immigration to less populated areas. A number of sizeable factories has opened on Tierra del Fuego Island to take advantage of the tax benefits legislated in 1972, mainly home appliance and electronics manufacturers.

Recently, in the city of Río Grande, many international and Argentine companies, most notably the Korean company Samsung and the Argentine company Teltron, have set up factories that produce high-definition televisions (HDTV), CD-ROM-related articles, and low-cost GSM cell phones built mainly from Argentine components.


Train to the End of the World. Operated by the province, it is the world's southernmost active railway.Sheep ranching, leading source of the province's modest agricultural income (5% of output), still serves as an important source of wool, mutton and hides throughout the province and the wider Argentine market, whose taste for these products has been growing strongly.

As with its neighbors in Patagonia to the north, petroleum and natural gas extraction contributes generously to Tierra del Fuego's economy, lately over 20% of total output. Exploration efforts continue, not only along the island's shores themselves, but, also near the Falkland Islands, where exploration under licences issued by the Falkland Islands government has caused anger in Argentina. This has also intruded onto the area's lucrative crab and shrimp fishing industry.

Tourism is gaining importance on Tierra del Fuego island, and the region offers mountains, glaciers, forests, fast rivers, waterfalls, a ski centre, and the sea, all within short distances. Both Jules Verne and Darwin were fascinated by the beauties of the island.

The most visited destinations include Ushuaia, the Tierra del Fuego National Park and the Tren del Fin del Mundo, Fagnano Lake, the Museum of the End of the World, the Beagle Channel, the Les Eclaireurs lighthouse, the old jail, and South Staten Island.

The Argentine Antarctic started receiving tourists a short time ago. Tourists can see wildlife at the Argentine Marambio Base during the summer.

The Falkland Islands gained publicity as a result of the Falklands War, and a modest number of tourists ventures to the islands. Argentine nationals have been free to do so again since the 1989 restoration of diplomatic relations between the two former adversaries