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Old 04-02-2008, 10:48 AM
 
Location: Central Texas
20,958 posts, read 45,197,233 times
Reputation: 24737

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What Steve said. I was just talking, separately, with two other agents today (neither of them Steve!), each working in different parts of the Austin area, and we were talking about how we've been running as fast as we can the past couple/three weeks just to keep up.
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Old 04-02-2008, 03:48 PM
 
149 posts, read 496,728 times
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I see more houses for sale this year compare to last spring. It is in Cedar Park. Asking prices are somewhat 10-15K lower and longer days on the market. It is not rare to see short sales as well. This is in the nice neighborhoods such as Deer Creek, Twin Creeks and older neighborhoods to the East of Anderson Mill.

I believe in what I see and would take industry insider's words with the grain of salt...
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Old 04-02-2008, 04:16 PM
 
Location: Austin 'burbs
3,225 posts, read 14,024,296 times
Reputation: 783
Quote:
I believe in what I see
I have to agree. I know what all the media articles are saying, but I am seeing foreclosures, dropping prices, and homes sitting on the market for extremely long periods.

Some lay offs? 900 isn't some! With a lot more to come....

... and it isn't just Dell. I have been hearing lay off stories through out my neighborhood friends and their families.

Things aren't looking good.... it's a tense time.
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Old 04-02-2008, 04:23 PM
 
Location: Austin 'burbs
3,225 posts, read 14,024,296 times
Reputation: 783
"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!
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Old 04-02-2008, 06:14 PM
 
Location: SW Austin & Wimberley
6,330 posts, read 17,986,506 times
Reputation: 5531
Quote:
I believe in what I see and would take industry insider's words with the grain of salt...
We had a buyer last week try to buy a home in Circle C that was new on the market. They drug their feet and by the 2nd day on the market there were 4 offers and it went under contract over the list price.

What you see depends on where you are, which price point, neighborhoods, etc. I work South/SW Austin and it's still for the most part a seller's market.

Quote:
lso - "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!
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"?

If you were in Austin in 2002/2003, you'd know that the type of Dell and other High Tech salaried worker layoffs at that time created a massive out-migration of high tech workers seeking jobs elsewhere. And that created a lot of homes for sale in Round Rock. My point was, these factory worker layoffs are not going to create that sort of out-migration or home sell-off.

Call it "ridiculously classist" if you will, but it's simply an economic fact. Maybe you are ridiculously smarter than me and have some information I'm not aware of that you'd like to share? I don't appreciate your uppity tone.
Steve
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Old 04-02-2008, 06:35 PM
 
439 posts, read 1,252,186 times
Reputation: 138
Quote:
Originally Posted by Torontonian View Post
I see more houses for sale this year compare to last spring. It is in Cedar Park. Asking prices are somewhat 10-15K lower and longer days on the market. It is not rare to see short sales as well. This is in the nice neighborhoods such as Deer Creek, Twin Creeks and older neighborhoods to the East of Anderson Mill.

I believe in what I see and would take industry insider's words with the grain of salt...

As someone who doesn't live there but has been looking at MLS listings for almost a year now. I see many of the same homes still for sale. I also noticed the prices have dropped too on these homes. These aren't crap homes either, nice 3 car garages, between 200-300 thousand. What is funny is just when you think "oh finally that house sold", then a sort time later it's pops back on MLS, lol.

As for the factory worker not owning a home thing, don't forget maybe that worker is only 1 part of a 2 income family. With 2 incomes even if both worked the factory job, they could probably afford to buy a home.

Debbie....
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Old 04-02-2008, 07:17 PM
 
Location: Great State of Texas
86,052 posts, read 84,148,425 times
Reputation: 27718
Here's a Fed website that has the December 2007 housing report.
In the past 2 years Pflugerville was paved over with subdivision after subdivision. There are about 5 new subdivisions here that have streets all paved out with weeds growing in the lots..very little activity of late so I'm going by what I see as well.

Dynamic Maps of Nonprime Mortgage Conditions in the United States (broken link)
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Old 04-02-2008, 07:20 PM
 
149 posts, read 496,728 times
Reputation: 30
Quote:
Originally Posted by Jenbar View Post

It's not isolated, it's part of the bigger 8000 nation-wide, and more to come.
It's not isolated. Have you noticed the recent price increases on groceries? I've seen 10-15% increase on items I usually buy at Costco just in one month. Add record high gas prices and rising utilities to the mix. Did I hear "Recession" word from Bernanke today?
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Old 04-02-2008, 07:31 PM
 
Location: Great State of Texas
86,052 posts, read 84,148,425 times
Reputation: 27718
Yup..but he said "may" slip into a recession. They probably won't admit it til June or so that we are actually in one.
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Old 04-02-2008, 09:10 PM
 
675 posts, read 1,898,192 times
Reputation: 372
We've been engaged in buying and selling a house in south Austin and it all went very very fast... ridiculously fast... One thing I've noticed is that houses that are dirty and not well looked after sit on the market, while the houses that are nice and clean looking sell very quickly. Maybe last year even the dirty/ run down houses sold quickly? Maybe.

The more people talk about gloom and doom, the more likely it becomes. I just don't understand the strangely human desire to gravitate towards panic and negativity and cause it to happen.
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