Archer Real Estate News
News on Central Texas Residential Real Estate
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
 
Austin Skyline

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.


Looking for a Design Intervention?
 
Laura Britt Design Web Pic

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!


Google has Done it Again!
 
video" rel="nofollow" shape="rect">Streetview man

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!


Why Mortgage Rates Aren't Lower
 
Adding Machine

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!


Ronald McDonald House 100
 
2006 Ronald McDonald House Invitational Cycling Team

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!


What's My Home Worth?
 

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!



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

cbunited logo
Sam Archer, REALTOR
Coldwell Banker United, Realtors

P: (512) 633-4650
F: (512) 343-1224
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