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Housing Real Estate Market Predictions 2012

CBS Money Watch featured an article on housing market predictions for 2012 and it’s clear that the nation’s real estate balance sheet is slowly turning around.

The official unemployment rate dropped to 8.6 percent while the U-6, which is the broadest measure of unemployment, fell below 16 percent for the first time since the Great Recession started. 

Fannie Mae’s November National Housing Survey also found that homeowners now believe that their home values will rise 0.2 percent over the next year.  That’s the first time in six months that price expectations moved from negative to positive terrain.

Another boost to the housing market is that mortgage interest rates still remain at historic lows with the 30-year fixed-rate mortgage at under 4 percent.  The 15-year fixed-rate mortgage averages close to 3 percent. 

Looking forward to 2012, the biggest indication that the housing market might begin to stabilize is that the number of delinquent homeowners facing foreclosure is shrinking.

Find out what’s happening in your local market through our Housing Trends Newsletter with market reports for 150 metropolitan areas.  As always, Texas Capital Properties is your online source for real estate in Austin, TX and Houston, TX.

 

Happy Holidays 2011

Find out what’s happened this year in your local real estate market.  Our Housing Trends Newsletter has the latest real estate market reports for 150 Metropolitan Housing Markets in the Country.  And as always, we are your online source for Austin real estate and Houston real estate!

Texas Capital Properties wishes everyone a home filled with the joy of family and friends this holiday season.

Holiday Events in Austin

Here are some wonderful Holiday Events taking place around Austin this season.  Happy Holidays!

Through Dec. 31: Zilker Holiday Tree and Trail of Lights 
City of Austin
The Austin Trail of Lights Festival in Zilker Park (near downtown) is a one mile walk through dazzling light displays, but it doesn’t end there! Grab a cup of hot chocolate and gather the whole family around the stage for nightly live performances, including dance, comedy, music, theater, and more. Austin fun for all ages!

Through Dec. 24: Armadillo Christmas Bazaar  
Palmer Events Center
Live Music  and art have made the original Armadillo Christmas Bazaar an iconic Austin event. Art fair and music festival rolled into one, it has long been the city’s favorite scene for holiday shopping, Austin style. With imaginative, handmade gifts and fine art that range from sophisticated to funky, the 2011 show will feature new talent and local legends.

Through January 8: David Sedaris’ The Santaland Diaries   
Zach Theatre 
David Sedaris’ hilarious real-life story of his tour of duty at Macy’s as Crumpet the elf. This sardonic tale of elfin’ woe is Austin’s most beloved holiday tradition!

Through January 15: Ice Skating on The Plaza    
Whole Foods Downtown 
Enjoy the plaza on the only outdoor skating rink in downtown Austin, Texas! Tickets for all skating sessions, for all ages, are $10.00 each and include skate rentals.

Is Buying a Home Cheaper than Renting?

According to real estate website Trulia, in many areas of the country it is cheaper to BUY than RENT.   But what’s right for you?  With near record-low mortgage interest rates and tax perks of home ownership, buying makes sense. 

Ask yourself a few questions as part of the decision-making process. 

How long do  you plan on staying in the home?  If you plan on staying several years, buying will make sense considering the traditional costs of buying and selling.

Do you have money for a down payment and closing?  In some cases you will need to put down 10% to 20% but if you qualify for FHA financing, you will only need 3.5% down plus closing costs.

Are you ready for home ownership?  It’s not always about the mortgage payment.  You will also be responsible for repairs and regular maintenance, insurance, utilities, home owner association dues, and property taxes.  It’s a big responsibility but can be very fulfilling for most home owners.

Even when it is cheaper to rent, it doesn’t always mean that’s the best choice.  Consider a monthly mortgage payment as a forced savings plan.  You will be building equity into a home and hopefully creating a nice nest egg for yourself in the long run.

Contact us today with any questions or for a FREE VIP Buyer Search of homes in your area sent directly to your email.