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Make a Scene! It's a Celebration! Happy New 2009 to You,Family and Friends

Posted in Austin Texas Real Estate By Susan Ordona, Wednesday, December 31, 2008.

As we reflect and get ready for the Year-End and look forward to the Year-Ahead,

we at The Real Estate Investor Network(REINclub)

wish you a NEW YEAR 2009 filled with the best of

health,peace,prosperity,full of hope,abundance,and

resolution to make this the best year ever (in profitable

investing especially in real estate).

Happy New Year!
Susan Ordona
http://susan.reinclub.com
http://www.reinclub.com/susan/warondebt.html

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Submitted by on December 31, 2008 - 3:11pm.

According to the latest S&P Case-Shiller Index, which was released yesterday and is one of the most reliable resource for the national of home pricing stats in the US. The national headline is "S&P: U.S. home prices post record 18% decline”. Which made our beloved Dallas Morning News website that failed once again to worry about the market they serve which is the Dallas Fort Worth Metroplex not the whole nation. Dirty laundry sells papers suppose that is why the internet is getting to be the place people go for information and news. Papers are going broke daily. New York Times, LA Times are all in trouble.

The local market condition for the Dallas Fort Worth area is healthy happy and wise going into 2009.

So, if you are an investor this might be the diamond in the rough to look long and hard at?

Cindie Stewart
www.SoldTeam.Net
Texas Sold Team Realty, LLC
office 817-337-5169
Mobile 817-881-7653

 
Submitted by David Smith on December 31, 2008 - 3:30pm.

"S&P Case-Shiller Index, which was released yesterday and is one of the most reliable resource for the national of home pricing stats in the US."

Please, this could not be further from the truth. That index is so flawed it has no business being quoted as accurate, but the myth continues.

Twenty cities in the country, only 300 homes in each of those cities evaluated. This is not a good index, and statistically it a terrible instrument for measuring Real Estate in this country.

 
Submitted by on December 31, 2008 - 3:36pm.

Bad index or not. I am sure a lot of markets saw at least 18% or decline in prices.

Jeff Manson
American Dream Realty Hawaii
Hawaiis

 
Submitted by Sam Benson on December 31, 2008 - 3:47pm.

Sam Benson
Alain Pinel Realtors
1646 N. California Blvd.
Plaze Level
Walnut Creek, CA 94596

18% average seems low to me. Walnut Creek prime residential is down about 18%. Over built San Francisco East Bay Cities like Antioch are down almost 40%.

 
Submitted by on December 31, 2008 - 3:49pm.

There's more than one Case-Shiller index. The numbers out this week were for the 20-city metro index and yes, about half of those markets saw price declines exceeding 18 percent.

http://www.inman.com/news/2008/12/31/price-index-drops-record-18

Of course, there will be a lot of variation in neighborhoods within those markets as well.

David, the Case-Shiller national index covers markets valued at $6.68 trillion, or 71 percent of the market. If anybody's interested we've had some pretty lengthy discussions about the Case-Shiller indexes here:

http://www.inman.com/news/2008/06/2/news-analysis-wheres-beef-in-case-sh...

 
Submitted by on December 31, 2008 - 3:51pm.

In Denver most of the sales are in the low end of the market. Naturally this is going to bring the average down. People who can afford to wait are doing just that.

The media just loves to air the dirty laundry and continues to shout out the negative destroying consumer confidence.

When will they realize it's their future too they are screwing up?

Kristal Kraft
Selling Denver Real Estate

 
Submitted by on December 31, 2008 - 4:40pm.

Austin is down in number of SFR sales from 20-40% every month this March-November compared to last year. I suspect December will also fall into that category.

On the bright side I've helped two buyers save over $100k off builder homes. :)

I hope 2009 brings better sales!

Joe
Austin TX Homes and Condos, Lofts Listings
New Homes in Cedar Park from Affinity Properties
Canyon Creek homes for sale

 
Submitted by Charles Richey on January 21, 2009 - 11:23am.

In Las Vegas, roughly 75% of the homes sold are bank owned. BUT sales are also up from the prior year by a wide margin. Home prices have stabilized and some areas are starting to creep back up. For our area, its a great time for first time home buyers because they can afford the market again. I've actually seen some good media coverage here as well.

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