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Real Estate By Stuart
J.B. Goodwin Realtors
www.RealEstatebyStuart.com
Austin, Round Rock, Georgeotown, Cedar Park, Leand TX 78759
512-844-3254
Fax: 512-233-0836

AUSTIN REAL ESTATE MARKET TRENDS REPORT

Updated Market Information...

Homes sales in December '09 from the Austin Multiple Listing Service show that home sales increased approximately 5% compared to December '08.  This is the third month in a row that we have seen a substantial increase in sales!   As a matter of fact, home sales have not been at this pace since 2005.  There has been a modest tend toward increased sales, as July, '09 was the only month in nearly 24 months where same month sales were not drastically down from the year before!

Obviously the Federal Tax Credit was a huge factor in motivating Austin area home buyers this in October and November, and after the credit was extended, December home sales continued to improve over 2008.

Austin's median home prices fell approximately 1%, but that is not as bad as one might expect, since so many first time home buyers jumped into the market, about 64% of homes sold were priced under $250,000.  

Another HUGE statistic is that the number of homes for sale in the Austin market is actually DOWN from last year. As a matter of fact, there were approximately 5% fewer homes on the market in December, '09 than in December, '08, meaning that our real estate market remains one of the STRONGEST in the U.S.! 


This is a reflection of the strength of the Austin economy. Austin’s economy is still one of the country’s best, with low unemployment and strong job growth. In addition, all indicators point to improvement!

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Credit Repair Can be Effective and Inexpensive...

One VERY important factor for Austin home owners and home buyers  now and in the near future is a process known as Credit Repair. Because it can take a litle time, effort and patience, many people do not undertake it, but it can pay HUGE dividends if you do.

Credit Repair is something that many people shy away from because there have been so many companies try to take advantage of this need by offering an over-priced, modestly effective levels of credit repair that drag out and take more money and time than its worth. 

Well that is just not the case... see www.TruthBehindCreditRepair.com, a site which wil clarify several myths about credit repair, showing you that you truly can accomplish credit repair inexpensively, in a realtively short time, and with great results... take a few minutes and find out how you can do yourself a HUGE financial favor!

 

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Expanded Tax Credit...

NOW YOU HAVE UNTIL APRIL 30, 2010

New home buyers can receive up to $8,000 Tax Credit, BUT there's more!

Federal Housing Tax Credit

$8,000 First-time Home Buyer Tax Credit at a Glance

  • The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
  • The tax credit does not have to be repaid.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
  • The tax credit applies only to homes priced at $800,000 or less.
  • The tax credit now applies to sales occurring on or after January 1, 2009 and or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
  • For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
  • For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance

  • To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
  • The tax credit does not have to be repaid.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
  • The tax credit applies only to homes priced at $800,000 or less.
  • The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by May 1, 2010, the home purchase qualifies provided it is completed prior to July 1, 2010.
  • Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

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Thank you for taking a few minutes, I hope the information was helpful.

Make it a Powerful Day!

 

Sincerely,

Stuart

PS Please feel free to forward this email in it's entirety to anyone you feel would benefit from it.

 

 

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Real Estate By Stuart
J.B. Goodwin Realtors
www.RealEstatebyStuart.com
Austin, Round Rock, Georgeotown, Cedar Park, Leand TX 78759
© 2003 – 2010 Real Pro Systems, LLC
Last modified 3/10/2010