Lots of people these days rely on “real estate” websites to determine the value of their home. The trouble is most of these sites don’t have access to the data they need to give you a true assessment. In fact, most of them are not even in the real estate business. They are just aggregators […]
On January 26, 2015 new appraisal rules went into effect that will likely delay residential real estate closings. The new FNMA/FLMC required appraisal review system called “Collateral Underwriting” (CU) is an automated system where appraisers must submit their appraisals for review. For the past 5 years, lenders have had to upload the appraisals to this […]
The Austin real estate market continues to be one of the healthiest in the country. Our January Market Report, a compilation of last year’s numbers, shows the statistics by price range and zip code so you can check out your particular neighborhood and price range. Although there are 7.45% more homes on the market now […]
Lowest Sales, Highest Pendings, Fewest Listings Historically during October, November and December the number of sales and number of homes for sale decreases each month. Our market is continuing to follow this pattern. (See Charts 2 and 3 of the December Market Report for a six year review.) Compared to the prior month, November sales […]
The key statistic you need to use to show the current relationship between inventory and demand is a term called “Months of Inventory.” It is the number of homes for sale divided by the number of homes sold the month before. It is like an absorption rate and has always been a good way of […]
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