Austin Market Cooling Down - Lowest home sales (Round Rock, Bastrop: foreclose, to buy)

[Megan1967]

Originally Posted by Megan1967

Jenbar could you email me and let me know of any really good leads in your area? I'm coming down in May and frankly have been overwhelmed by the price drops I'm seeing (happily I might add).

Still, I don't know what's dropping because it has major flaws and what's dropping because of the market.

My income is directly linked to the stock market so I probably will be making much less next year than I have in the past two years, but I could probably still afford $1000-1200 per month house payment with taxes escrowed.

I don't know anything about how the homestead credit or other local quirks in the housing market work and these things may up my "do-able" range in terms of monthly payments. The lack of income tax has a very minimal effect for me. I'm hoping I will have $50,000 to put down on a house.

Thanks in advance!

Megan

Am I dreaming to think I can afford a nice home in the Austin area (including suburbs) given the above? I know I see people post on our local forum who have no clue about the local market. They'll say things like, "I'd like a craftsman bungalow, move in condition and am hoping to find something in the $200,000 range." I always think, "Yeah, me too, DREAM ON." I really need to know if I should even seriously consider a move......

[AustinGuy]

The thing I find interesting about the Austin market is how little appreciation it seems areas like Round Rock have seen since the end of the last boom in early 2000. Meanwhile areas in central Austin and South/Southwest Austin have seen big gains.

At some point, you'd think buyers priced out of central areas would start buying in areas like Round Rock and forcing prices higher.

[faithr]

I think that sums it up- hot market with soft spots.
Maybe when I get there in three weeks, I will discover some soft spots that appeal to me. Sort of hard going from a buyers' market (NoVa) to a sellers' market.
My boyfriend bought a house 10 days ago and the house he bought was on the market for 40 days. The day he placed an offer there were two other offers so he had to bid full asking price. I have noticed that there seems to be a lot of buying activity in the last few weeks in our desired areas.
Spring buying I guess.

[jwb123]

Jenbar could you email me and let me know of any really good leads in your area? I'm coming down in May and frankly have been overwhelmed by the price drops I'm seeing (happily I might add).

Absolutely!

[Megan1967]

Thanks so much!

[jimmyjack]

Originally Posted by austin-steve

Well, provide your data then. What were those workers making per hour? What is your definition of a mass assembly plant with production lines. I call it a factory, maybe it's called something different where you come from. They are blue collar jobs and blue collar workers. Or is it "classist" to say "blue collar"?

Hoooweeee! I'd say it's time to get off your high horse and mingle with the little man! I got news for you Steve, there's a lot of folks done might well with those factory jobs. Why some have even raised families and bought property! I know it might not be up to the standards of a big time realator like yourself livin the highlife out in circle c sendin your kids to fancy schools an all, but 900 jobs lost affects a lot of peoples lives. Its not classist to say blue collar, but there is a certain lack of class to minimize the layoffs and suggest that Dell employees are not homeowners.

It's along the same lines of callin somebody 'uppity'. I know you're not from Texas but there's some connotations that go along with those words also that you might want to think about as they reflect rather poorly on a man of your stature. Kind of like tellin a person of color that racism is just their imagination an they should watch Rudy to learn how to buck up. For someone who is so successful, you seem to have a little bit of edge on and a surprising lack of sensitivity. I'd call your comments ridiculously classist too, but I'd leave off the cl at the front.

[OAC]

Lakeway and Lago have 14 months of inventory and many homes are listed at greater than $200/sq ft. The sellers and builders are in denial.

[jimmyjack]

Originally Posted by Jenbar

"900 isolated laid-off people won't have a HUGE impact, but if its an indication of more bloodletting at Dell"

It's not isolated, it's part of the bigger 8000 nation-wide, and more to come.

Also - "factory workers" aren't homeowners? Really? Apart from that ridiculously classist and inaccurate reply, the manufactoring facilities of Dell aren't exactly "factory" ... we aren't talking $9 an hour jobs, and changing shifts at the blow of a whistle horn. lol!

I'm with you 100% on this one Jen and I think you are spot on. Of course, I don't expect much from real estate agents and they rarely disapoint me. They aren't really much more than overpaid chauffers who know how to fill out a standard contract and stroke the egos of the ignorant.

[TexasHorseLady]

jimmyjack, I'd really appreciate it if you wouldn't paint all agents with the same brush. Is that really any different than saying that the Dell employees who are being laid off are blue collar people who aren't homeowners?

[texdav]

Originally Posted by jimmyjack

I'm with you 100% on this one Jen and I think you are spot on. Of course, I don't expect much from real estate agents and they rarely disapoint me. They aren't really much more than overpaid chauffers who know how to fill out a standard contract and stroke the egos of the ignorant.

Somebody gets up on the worng side of bed everyday in this country it seems.Realtors are like evrybody else;some good ;some not so good.