Real Estate Information

Make sure that your moving quote is based upon a visual survey.

One of the biggest mistakes that people make when booking a move is assuming that a phone quote is guaranteed. The only way to obtain a binding quote is to have your household goods visually surveyed by a moving company. Make sure that you get the quote in writing.

Read all documents before signing.

Once you have been provided a written quote, make sure you read before signing. The quote should document weight, distance, and services to be rendered. If you have verbally discussed any special services make sure that those needs are reflected in the estimate.

Make sure you have adequate valuation coverage.

Standard coverage for interstate moves, which all carriers are required to provide, is 60 cents per pound. This amount will be inadequate if an expensive item, such as a plasma television, is damaged in your move. Additional insurance can be purchased through the carrier or through your home insurance policy.

Use a reputable mover for your move.

The number of choices available for your move is enormous. Make sure that you are using a reputable mover who is licensed, bonded, and insured. A reputable mover will not ask for a deposit up front and will have moving trucks with their own company name on them.

Make sure the mover can contact you.

If you are planning to have your phone disconnected the day of your move, make sure that the moving company has your cell phone number or another way to reach you. This is also applicable for your new residence.

CALL us for more infomation on moving.  We provide all our clients VIP service through VanLineExpress. 

When working with our valued buyer clients we occasionally hear horror stories about Identity Theft.  According to the Consumers Union, in the time it takes to count to ten, five new people will become victims of identity theft. In fact, according to the U.S. Department of Justice Statistics, identity theft is now passing drug trafficking as the number one crime in the nation--with more than 15 million victims every year.

Rather than lay awake at night worrying and wondering if your identity has been stolen, you can actually take a simple step to protect yourself... it's called a credit freeze (or, sometimes, a security freeze). Essentially, a credit freeze gives you the ability to "freeze" or lock access to your credit file--which helps prevent someone from opening a new account in your name.

Here's How It Works

When someone tries to open an account in your name, they'll be stopped in their tracks. That's because one of the first things a creditor will do before opening the account is pull a credit report.

By having a credit freeze in place, creditors aren't able to pull your credit report. And, since very few lenders will issue credit without first seeing a credit report, identity thieves can't open fraudulent accounts using your name. However, when you want to apply for credit, you can temporarily lift the freeze using a PIN... thus, allowing your legitimate application to be processed.

The Flip Side

First, it's important to remember that a credit freeze only stops someone from opening a fraudulent account. It can't stop them from using a stolen credit card. So you still need to keep the phone numbers of your credit cards handy, in case your cards are lost or stolen.

In addition, some critics argue that credit freezes have more of a downside than most people realize. That's because you won't be able to purchase a car, get a new credit card, or refinance a mortgage at a moment's notice. Instead, you'll have to plan ahead by lifting the freeze, which usually takes about three days.

For most major purchases, this won't be much of an issue--after all, how many of us buy a car or house on a whim? Typically, we make the decision to start looking and, at that point, can easily lift the credit freeze in anticipation of the purchase. However, a credit freeze can be problematic if you're at a department store and the cashier offers you 10% off your purchases if you open an instant credit card with the store.

Other Options

Opponents of credit freezes also argue that consumers can just as easily fight identity theft with fraud alerts, which require lenders to verify identity before issuing loans or credit. If you have reason to believe you've been a victim of identity theft, you can obtain a 90-day fraud alert. And if you provide reliable evidence that you are in fact a victim--using such documents as a police report--you can extend that fraud alert for up to seven years.

The problem is... fraud alerts only come into play AFTER you've been victimized. So for many consumers, credit freezes offer more protection and more peace of mind.

Here's the Shocker... You May Not Have a Choice!

Believe it or not, credit freezes aren't available in every state. Some states have yet to pass credit freeze laws. Why? Well... it all comes down to a battle between the big business of instant credit and the growing need for more secure personal information.

And, don't kid yourself, billions of dollars are at stake in this battle! Credit-reporting agencies sell credit reports to lenders, landlords, employers and other businesses. Department stores and retailers generate huge revenues by offering instant store credit cards that boost profits through interest and increased shopping. And, finally, we as consumers have simply grown accustom to receiving on-the-spot credit for our purchases.

If you have fallen victim to identity theft that has caused some anxiety over your next home purchase, give us a call.  We are happy to help and can offer our list of preferred lenders that can walk you through credit repair and put you back on the path to home ownership.

To learn more about these issues and to find out if your state allows credit freezes, visit www.ConsumersUnion.org/finance/creditfreezeinfo.htm.

Here is a re-cap of last week's real estate market:

According to the Austin Business Journal, there good news for those looking for work in Austin in 2008.

The Austin area ranked as one of the top metro areas in the nation when it came to online job advertisements in December, according to a report by The Conference Board.

Austin had 5.07 advertised vacancies per 100 people in the local labor force, just below Milwaukee, with 5.31 vacancies per 100 locals, and San Jose, with 5.30 online job ads per 100 people, according to the report.

Nationally, there were 2.3 advertised vacancies online for every 100 people in the work force in December, according to The Conference Board, a nonprofit research organization based in New York that tracks the postings on 1,200 Internet job boards.

Austin also had the highest number of advertised vacancies in relation to the number of unemployed of any metro area in the nation.

A total of 43,200 jobs were advertised on the Internet in December 2007, up 19.7 percent from 36,100 in December 2006. The national growth rate of online job postings was slower -- 6 percent -- during the same year-to-year period.

In Austin, the number of new ads was up 17.6 percent from 25,600 in December 2006.

The Conference Board generates a monthly report of help-wanted advertising in the nation's newspapers.

New home starts in Austin has slowed down according to new study by the real estate research group, Metrostudy. During the 3rd quarter of 2007 home building starts fell 27% from 2006. The majority of this drop off was for homes under $150,000 due to the tighter credit policies on lending. This is has knocked out a number of first time home buyers.

“The Austin area will experience less demand for new homes in upcoming quarters.“ A sharp decline in relocation buyers, a competitive resale market and more hesitant home buyers are factors leading to the slowdown, as are decisions by corporate offices of the region’s largest builders....Austin experienced only moderate appreciation in new home pricing in recent years" and this will, to a large extent, insulate the area from large price reductions that will plague the new home and resale markets in other parts of the country."

We still see a very competitive resale market and think prices will continue to rise a modest rate. So if you are a buyer trying to 'time" the market wouldn't be advised as you will be paying probably 5-6% on a home a purchase. Again this varies by areas of town. Consult your Realtor to find out about specific neighborhoods or subdivisions.

If you're moving to Austin for business, you're in the right place - and that's not just our Austin pride talking. The city is ranked third in Forbes' annual survey of Best Places for Business and Careers - for the third year in a row.

We're also known for our vibrant high-tech industry environment. In fact, of the 50 fastest-growing technology companies in Texas, 19 make their home in Austin, according to a report released by Deloitte & Touche in August 2006.

And, Austin's milder-than-most-cities' traffic, temperate weather and still affordable housing options were factors in another survey by the Silicon Valley Leadership Group of the "best tech towns" in the country, beating out such known tech stalwarts as San Jose, San Diego, Chicago, New York and Boston.

Austin also has a high percentage of college graduates that are fueling the city's thriving business economy - not surprising considering the top colleges and universities that are based in the area, including Southwestern University in Georgetown, Texas State University in San Marcos, and St. Edwards University, Huston Tillotson University and the University of Texas - all located in Austin proper.

Consider that the University of Texas McCombs School of Business is ranked 18th in the Wall Street Journal's annual overall listing of the best business schools in the U.S., the survey also recognized UT's accounting program, which was ranked third.

UT was also ranked number one of more than 400 major research universities worldwide in a study from the Milken Institute that looked at the ability of universities to produce patents from their biotechnology research. Those are huge honors for Austin, which has been steadily becoming known as a hub for biotech research and companies.

Austin's also home to a lot of creative, talented people. Among the top 20 cities for business across the country, "creative-class" employees made up at least 25 percent of each city's workforce. That comes as no surprise in a town where creativity and entrepreneurship are encouraged.

In August 2006, the Wall Street Journal, in its "Most Inventive Towns in America" survey, ranked Austin in the top ten for innovation - we had the third-highest number of patents in 2005 (1,705 total), according to a survey conducted by ipIQ, a company that specializes in technology analysis. And, for the second straight year, Austin ranked second in the country by MovieMaker magazine as one of the top American cities to be a filmmaker.

We're smart, too. According to a survey conducted by Bizjournals.com, part of the American City Business Journals national business newspaper chain, in June 2006, Austin ranked third as one of the top communities with the "highest concentration of brainpower." Major factors for consideration included the number of college graduates in a city, and its residents' ability to "innovate, create, compete, and make money."

Normal;When you move here, don't forget your laptop. Newsweek ranked Austin among its "Top 10 Hottest Wireless Cities." There's more free wireless hotspots per capita here than anywhere else in the country - about 11 for every 100,000 residents. Austin's high ranking is credited to a strong grassroots wireless movement, especially the Austin City Wireless Project (www.austincitywireless.org).

Labor & Unemployment

Austin's a great place to work and play, and no matter what your business, there's likely an industry here that supports it. The rise, fall and rise again of Austin's technology industry is a sure sign that the city continues to be resilient when it comes to starting, growing and nurturing a successful business.

Employment rates continue to rise, too. In fact, Texas employers have added jobs for 24 consecutive months - and for 37 of the last 38 months. And, the state's seasonally adjusted unemployment rate in September 2006 was 4.8 percent - compared with 4.6 percent for the United States.

According to the Texas Workforce Commission, as of September 2006, Texas employers added 226,200 jobs in all major industry sectors (including construction, educational and health services, natural resources and mining, financial activities, professional and business services, leisure and hospitality, and state and local government).

And, while the nation as a whole has seen job growth of 1.3 percent, the Austin area has attained an impressive growth rate of 2.3 percent - a considerable increase from last year's 1.5 percent growth rate.

Ok that should be enough support why you should move to Austin.

Every week I run into people who think the real estate in Austin is going to tank. That's not likely to happen during 2008. I think people are over reacting the national home news with all the increase in foreclosures and price drops. In Austin I think we are seeing a lull in sales and an increase in the amount of homes for sale. Recently one the top builders here (Centex Homes) decided not to build a 1,400-home community in north Austin.

(Read the full story here)

Here is a re-cap of last week's real estate market:

December 9 - December 15, 2007
(compared to the same week in 2006)

There was a 28% increase in number of homes for sale. Buyers now have more homes to choose from in the market.

The number of homes pending (under contract) is down 63% from the same time last year.

The number of Homes Sold is down 44% from the same week last year. There  are less sales happening right now then last year.

As for Average Prices: Dec. 9 - Dec. 15, 2007
(compared to the same week in 2006)

The "New Listings" average list price for a home increased 21% to a little over $300,000.  We are still seeing home sellers be too overzealous in pricing their homes on the market. Sellers need to have their home in top condition and be priced competitively to the competition if they want to sell their home now.

The Sold average closed sales prices increased 13% to $274,000.

On December 6, 2007 at the Hilton Austin the Austin Chamber of Commerce held its Annual Economic Forecast event sponsored by Wachovia Bank and Greater Texas Water Company. 

Experts that spoke included Ray Perryman of The Perryman Group, Jon Hockenyos of Texas Perspectives and Daniel Kah with Angelou Economics. All voiced views that there would be some slow down in 2008, but no recession was looming. They also agreed that after the first quarter, fears unleashed during the sub-prime crisis would be calmed.

Perryman began the discussion on the economy with a national perspective, saying that the year would be okay with a GNP around 2.8%. He emphasized that the economy was strong and resilient, with swift recoveries in recent years following major impacts such as 9/11, Katrina and corporate scandals. Though Perryman did say that the nation was overbuilt for current population and job growth, he said the gap was nothing compared to the 1980s. He also listed Texas as gaining 20% of the nations jobs and 8% of the economy.

Kah explained Austin’s economic vitality for attracting jobs to the region was due to the rising demographic base of highly educated, higher income flight of growth. Kah also stated that the region’s competitive cost of living and cost of doing business continued to attract companies, especially in the areas of renewable energy, financial services and high value manufacturing. Kah said that one of the largest deterrents for major campuses in Austin was air service.

Hockenyos started talking about the local economy, saying that the real estate surge has been largely due to in migration and investment capital. He feels that though Austin will slow down, the city has always out-performed the state and the nation. Hockenyos also stated that Class A office space was a little overbuilt, and this along with pricing and keeping properties on the market will make 2008 a year for these slight corrections.

Following the presentation by the three speakers, questions from audience members were asked of the experts. One question on the minds of many was whether or not the downtown condo market in Austin was being overbuilt.

“Condos may seem overbuilt, but they are not as out of balance as it seems,” said Hockenyos. “ The biggest problem in Austin is we are building downtown, but major employers are not locating downtown. You have a reverse commute.”

Another question from the audience addressed the need for spending on transportation if the economy is slowing.

“We see real problems in the community when we don’t continue to invest in our infrastructure, “ said Hockenyos.

Perryman, is widely regarded as one of the world’s most influential and innovative economists. His studies have played a role in the creation and retention of hundreds of thousands of jobs. Kah, is involved in many of Angelou Economics data intensive projects including site selection, impact analysis and economic forecasting. Hockenyos has served as a resource witness on a variety of issues for many city councils, state legislatures, and the U.S. Congress.