Archer Real Estate News
News on Central Texas Residential Real Estate
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April 2008
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Greetings!
Clearly change is in the air on the real
estate front. Even in Austin, our market has
rapidly turned from a seller's market to a
buyers market with little warning. So what
exactly is going on, you ask? Well, we've
got fewer buyers able to buy in this market
(the subprime fallout and recent changes to
FHA requirements have eliminated zero
down loans) and the national media has
created a perception that things are bad all
over. But the truth is that the market in
Austin is still doing relatively well, with
economic growth in the top 5 in the nation
and the housing market still holding
strong. So with all that in mind, this
Enewsletter gives you information on what's
actually happening in the Austin real estate
market, some new tools being introduced by
Google, information on why the fed rate cuts
haven't really translated into rate changes
for mortgages and more.
I hope that this newsletter finds you well!
The Good News and the Bad News
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So there's good news and there's bad news in
the Austin real estate market these days.
According to the recently released
information from the Real
Estate Center at Texas A&M, Austin is
doing better than the rest of the state and
the nation, but there is no doubt that the
housing market has slowed considerably here.
Here is how Austin fared in February:
- 1705 homes sold (10.5 percent decrease)
- Median price of $180,300 (1.6 percent
increase)
- 4.7 Months of inventory
So what does this mean to anybody buying or
selling in Austin? Well it basically means
that it's turned into more of a buyers
market. Sellers should be very careful to
price their houses competitively and be
prepared to wait longer for their houses to
sell. Not rocket science to be sure, but
these are definitely things to keep in mind.
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Looking for a Design Intervention?
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I've got a good friend Laura with Laura Britt
Design and
we were talking the other
day about interior design and real estate
(not surprising really) and she offered to do
a free consultation for a lucky recipient of
my Enewsletter. If you'd like to see
some of the phenomenal work she's done, check
out her
website
So here's how it works - if
you're interested just send me an
email and let me know why you need some
design intervention. I'll be picking out one
of you guys by next newsletter and will
announce it then. Here's the limits - Laura
will commit to 2 hours of her time to help
you on your way toward a
complete design intervention. I hope to hear
from you to see why your home should be
picked. Thanks in advance for getting in
touch!
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Google has Done it Again!
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So for anybody who has spent hours poring
over Google Earth and trying to figure out
what was happening at the exact time the
aerial photo was taken at your house, there's
yet another level of detail (and potential
intrigue) offered by our friends at Google.
There is a great new service (free!) from
Google called Streetview offered only in a
limited number of cities and Austin is one of
those cities. It gives you a streetview
perspective for any street in Austin. Before
you take a look at the program, be sure and
check out the great (and exceedingly goofy)
video
they've put together. The real benefit,
though is that you are able to really put
yourself on the street for Austin (and 39
other cities in the US) and get the lay of
the land. Check it
out and see what you think!
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Why Mortgage Rates Aren't Lower
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The fed has been more active in the last
several weeks than it's been in the last
several years. So with all the reductions in
rates and efforts to help banks and major
financial powerhouses has their been so
little benefit to the consumer? Well, I've
done a little reading up on this and I've
uncovered a great
article that
I think will be of interest
and potentially will be enlightening to you!
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Ronald McDonald House 100
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As many of you know, I've been a rider in the
100 mile benefit for the Ronald McDonald
House of Austin for the last two years and
this is my third year. It has been wonderful
to be a small part of helping this
organization do so much for families in need
in Central Texas and helping raise awareness
about the role the RMH can have during the
most difficult times when a child of a family
is hospitalized.
I'm proud to be one of 50 riders going 100
miles in celebration of the 4th Annual Ronald
McDonald House 100. Last year's event raised
nearly $50,000 and this year's event is
slated to raise over $100,000 for the
families staying at the Ronald McDonald
House. Your support will ensure these
dedicated riders reach their goal in support
of our mission and the families we serve. To
give or learn more about the ride and RMH in
Austin, go to this
link and learn how you can help families
in need get to the finish line. Thanks!
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What's My Home Worth?
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With all the changes in the Austin market at
the end of last year, many clients are
interested in knowing what their home is
worth. If you would like to get a quick
picture of the value of your home, check out
my website for a
home
valuation tool that gives you a pretty
good estimate of your home's value base on
recently sold properties in your area!
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As you know, your generous referrals have
been the
most fundamental component of my success in
real
estate. You can continue to count on me for
the
highest level of customer service, whether you
are
looking to buy or sell a home or know of
someone
who is.
If you find value in this newsletter, please
pass
it
along to your
friends and
colleagues.
Sincerely, Sam

Sam Archer, REALTOR
Coldwell Banker United, Realtors
P:
(512) 633-4650
F:
(512) 343-1224
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