Texas ranks near top of states with lowest foreclosure rate

The number of U.S. foreclosures dropped for the fourth month in a row in August, according to a monthlyforeclosure report released today by real estate data aggregator CoreLogic.

As of the end of August, 1.3 million homes — 3.2 percent of all U.S. homes with a mortgage — were in some stage of the foreclosure process, a 7.1 percent drop from August 2011.

Not all homes that enter the foreclosure process are lost by their owners. Some are able to get current on their loans or negotiate a short sale.

The 57,000 foreclosures completed in August brings to number of homes to have gone all the way through the foreclosure process since September 2008 to 3.8 million, the report noted.

“The continuing downward trend in foreclosures and a gradual clearing of the shadow inventory are important signals that the recovery in housing is gaining traction,” said Anand Nallathambi, president and CEO of CoreLogic.

The report shows that nearly half (48.1 percent) of the 377,000 foreclosures completed in the last 12 months occurred in just five states: California (110,000), Florida (92,000), Michigan (62,000), Texas (58,000) and Georgia (55,000).

States with most foreclosures in the last 12 months, August 2012

State Number of foreclosures
California 110,000
Florida 92,000
Michigan 62,000
Texas 58,000
Georgia 55,000

Source: CoreLogic

Florida leads all U.S. states with 11 percent of its mortgaged homes in some stage of foreclosure, according to the report. The next states on the list, in order, are: New Jersey (6.5 percent), New York (5.2 percent), Illinois (4.8 percent) and Nevada (4.6 percent).

States with highest percentage of mortgaged home in some stage of foreclosure, August 2012

State Percentage of mortgaged homes in foreclosure
Florida 11.0%
New Jersey 6.5%
New York 5.2%
Illinois 4.8%
Nevada 4.6%
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Austin event calendar for October

October 2012 Calendar of Events

Bonnie Raitt, Randall Bramblett – October 3, 2012
ACL Live


David Byrne and St. Vincent – October 5, 2012
Bass Concert Hall


The Australian Pink Floyd Show – October 5, 2012
ACL Live


Texas Craft Brewers Festival – October 6, 2012
Fiesta Gardens


Oktoberfest – October 6, 2012
German Free School


Fall Concert in the Park – October 7, 2012
Beverly S. Sheffield Zilker Hillside Theater


Bassnectar, DJ Vadim, Ancient Astronauts – October 12, 2012
Austin Music Hall

Austinmusichall.com 


Austin City Limits Festival – October 12, 2012
Zilker Park

Austin Film Festival: 10th Annual Film & Food Party – October 17, 2012
The Driskill Hotel


Norah Jones – October 19, 2012

ACL Live

 http://www.acl-live.com/

Cedar Park Fall Festival – October 20,,2012

Twin Lakes Family YMCA

 

Stiletto Stampede – October 20, 2012

Triangle Park

The Texas Conference for Women – October 24, 2012

Austin Convention Center

 

Wizard World Austin Comic Con – October 26, 2012

Austin Convention Center

Halloween at the Y – October 27, 2012

Old Settlers Park, Round Rock

 

Austin Yoga Festival – October 27, 2012

Palmer Events Center

Spooky Skedaddle 5K and Festival – October 27, 2012

Texas School for the Deaf

Fright at the Museum – October 28, 2012

Texas Memorial Museum

Goblins in the Garden – October 28, 2012

Lady Bird Johnson Wildflower Center

 

Bill Cosby – October 28, 2012

Bass Concert Hall


Austin Symphony Presents: Halloween Children’s Concert – October 12, 2012
The Long Center Michael and Susan Dell Hall


Austin’s Monster Ball – October 31,2012
American Legion


Halloween Thriller Dance Party – October 31, 2012
Ballet Austin Butler Community School

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Austin home sales still rising up 21% in 2012

Austin Real Estate – 21% Increase in Sales Year Over Year 2012

 

Austin TX Real Estate is having a great year! Prices are going up. Days on the Market are going down. Inventory is going down. Demand is going up. Rates are low and buyers are buying. Can that be said in every market across the Country? Can that be said in every market across Texas? No, as real estate is local. Real Estate is not the same in every market.

For August 2012, there were 7262 Active Listings on the market. In August 2011, there were 8705 Active Listings on the market. That’s about a 17% decrease in inventory. Did we have 17% decrease in sales??

NO!! We had a 21% INCREASE in sales!! August 2012 had 2397 sales and 2011 had 1977 sales. Talk about your classis Supply and Demand!

austin real estate homes for sale

With that, the prices have gone up. Not just the Average prices, but also the Median prices. In August 2012, the Average price was $276,888 with a Median price of $212.000, where as in 2011, the Average was $259,210 with a Median of $199,900.

Other stats that are important is that the Average Days on the Market in 2012 was 61 days. In 2011, it was 79 days.

It also looks like we are going to have an awesome September because 2207 properties are pending, which is 23% more than August 2011.

I, personally, just refinanced last week for my second time in 9 months. That’s how low rates are going… and going…

If you’re on the fence about the Austin TX real estate market and whether or not to continue renting or buying a house, or maybe you’re thinking about selling your current house and taking the step for a larger or smaller house, I can’t stress how now is a great time to take that step. Yes, the Winter is traditionally the slower time for the market, but that’s also the better time to get a good deal, when other buyers aren’t around for as many multiple offers!!

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Have a garage being neglected? Look at what this family in Sacremento accomplished..

Sacramento designer Kerrie Kelly transformed this once-overstuffed garage into a trendy lounge suited for a young family. After clearing out the clutter, the space got a paint job and some colorful furniture. The result is a chic living room that proves that great design can happen on a budget.

“The finished product turned out better than expected, especially after seeing the family living in and loving their new space,” Kelly says.

modern  by Kerrie L. Kelly

 
With the push of a button, the original garage door opens up, filling the room with natural light. There’s another entrance through the side door, but the garage door creates even better flow between indoors and out.
modern  by Kerrie L. Kelly

 
Inspired by the subtle farmhouse backdrops in Napa and Sonoma not too far away, Kelly chose soothing gray and white shades for the main palette.Re-create the look by using Kelly’s same shades: Swiss Coffee 23, Chadwick 217 and Greyswood 3958-3 — all from Kelly Moore.

by Kerrie L. Kelly

 
The sophisticated gray and white background sets the tone for the room, but additional color helped turn it into a truly family-friendly lounge. “It also required a playfulness, which begged for bright colors and some graphic patterns,” says Kelly.

Private Comment

modern  by Kerrie L. Kelly

 
The biggest surprise in this project was how easy it was to create the horizontal wall stripes. The design team simply painted wood boards and then nailed them up. Horizontal stripes help visually expand the room to make it feel open and bright.See another way to paint stripes

modern  by Kerrie L. Kelly

 
Creating a gorgeous, livable space for family doesn’t have to cost a lot or require fancy resources. A Room & Board couch, Crate & Barrel light and Wholesale Interiors barstools combine in this affordable and chic makeover.

Private Comment

modern  by Kerrie L. Kelly

 
These modern bookcases were designed from reclaimed wood and plumbing pipe by Kerrie Kelly Design Lab. The open shelving allows the enclosed space to breathe, while still offering plenty of room for essentials.

Private Comment

modern  by Kerrie L. Kelly

 
Kelly said the functional considerations for this garage makeover were simple: “Eat, drink, play, enjoy. Repeat.”
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Alamo Drafthouse on South Lamar will remodeled!

By: Jan Buchholz

The Alamo Drafthouse Cinema LLC revealed designs Tuesday for its new redevelopment at South Lamar Plaza. The drawings were released just hours after the sale of the site was completed by the developer, Greystar Real Estate Partners LLC.

Alamo Drafthouse will be renovated dramatically to include three additional screens, a new lobby and a new parking lot, all with increased capacities. It will close temporarily on Jan. 3, 2013.

In the meantime, the nearby Highball bar will close on Nov. 17 for its renovations. Its configuration will include new private karaoke rooms and a stage for live events. It will not feature vintage bowling, however. Both establishments will reopen in the third quarter 2013.

“As much as I love the current shopping center, the redevelopment of South Lamar Plaza will enable us to execute much needed lobby renovations and increase the parking capacity for the complex,” said Tim League, founder and CEO of the Alamo Drafthouse Cinema and the owner of Highball. “I am very excited about the design of the new space and I feel that after a brief closure we will reopen with the best Alamo Drafthouse yet.”

The Austin Business Journal previously reported about the trials and tribulations of the project that was temporarily derailed by a variety of issues. Greystar in the long run was able to retain the development, however, and the deal was sealed yesterday when the property officially closed for an undisclosed price.

The mixed-use project will feature residential, retail and restaurant spaces.

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Ron Howard is coming into town for F1 Week!

Film director, producer and actor Ron Howard is coming to town in November for The Starting Grid, the kick-off luncheon for festivities leading up to the U.S. Formula One Grand Prix race held at the Circuit of the Americas track east of Austin.

Howard will give attendees an inside look at his upcoming drama “Rush,” a real-life F1 story about clashes on the racetrack between Englishman James Hunt and Austrian Niki Lauda. The film is set to be released on Sept. 20, 2013.

“While he was directing “Rush,” Howard spent several months immersed in the world of Formula 1, learning about its history, politics and personalities. We look forward to learning more about his on-set experience and his insights into the sport’s past and present,” said Circuit Events Host Committee Executive Director Sandy West.

The Starting Grid will be held Nov. 1 at 11:30 a.m. at the downtown Hilton Austin. Tickets are available here.

The F1 Austin race is set for Nov. 16-18. Keep up with the latest news here.

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National Association of Realtors drops median days on market to 69

If a six-month supply of homes for sale represents a good balance between demand from buyers and sellers, homes in balanced markets will typically be listed for about six weeks before they sell, the National Association of Realtors said today in announcing a new metric, median days on market.

As it turns out, NAR statistics show median days on market is down 29.6 percent from a year ago, from 98 days in July 2011 to 69 days in July 2012.

While days on market can be pulled from statistics maintained by local multiple listing services, the task is complicated because sellers sometimes take their homes off the market and relist them.

NAR is tapping monthly member surveys the trade group uses to generate its “Realtors Confidence Index” to calculate the new median days-on-market figures, which will be included in future news releases on existing-home sales.

Median time on market includes all listings, which can be misleading if an influx of fresh listings skews the calculation downward, NAR noted.

From 1987 through 2011, time on market was typically 6.9 weeks, NAR said. During that time, NAR’s data on existing-home sales showed the supply of inventory averaging seven months, indicating slightly less demand from sellers than in a balanced market.

In periods where for-sale inventory amounted to a six-month supply of homes, median selling time was just over six weeks. When inventories dipped to an average of 4.3 months during the boom years of 2004 and 2005, median selling time dropped to four weeks. Time on market peaked at 10 weeks in 2009 when there was a 10-month supply of homes for sale.

Source: National Association of Realtors

Factoring out short sales — which typically take three months or longer to sell — the median time on market for traditional sellers currently “appears to be in the balanced range of six to seven weeks,” said NAR Chief Economist Lawrwence Yun.

Housing inventory and time on market correlates with rising and falling prices. If housing construction doesn’t pick up to normal within two years, Yun said a shortage of listings could lead to “above average” price appreciation.

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UT ranks No. 35 among world universities

The University of Texas at Austin has been ranked in the top 40 among top universities in the world, according to a list compiled by the Center for World-Class Universities at Shanghai Jiao Tong University.

The 2012 Academic Ranking of World Universities puts UT at No. 35. The school ranked No. 5 in engineering, technology and computer science; No. 15 in social sciences; and No. 32 in natural sciences and mathematics. It took the No. 27 spot among U.S. universities.

Other Texas universities listed in the top 100 overall are the University of Texas Southwestern Medical Center at Dallas, No. 48; Rice University; No. 91; and Texas A&M University, No. 93.

Six indicators determine the rankings, including the number of Nobel Prizes and Field Medals won by alumni and staff members, and the number of cited researchers by Thomson Scientific.

The Center for World University Rankings ranked UT No. 30 in its list of the world’s top 100 universities earlier this year.

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Andy Roddick to build E. Austin sports, learning facility

Professional tennis star and local residentAndy Roddick is building a sports and learning center in East Austin that will serve as a place for youth guidance.

Manny Farahani, a local real estate developer, provided the Andy RoddickFoundation with a 10,600-square-foot building and property for eight future tennis courts on FM 696 on a campus where KIPP Austin charter schools and the Kozmetsky Center for Child Protection are located, theAustin American-Statesman reports.

Work on the facility is already underway and should be completed by 2013.

The foundation’s new Director Jeff Lauhopes to raise $2 million for an operating endowment and other improvements to the building.

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KUT buys station for $6M, will air local music

By: Sarah Drake

Austin radio station 90.5 KUT-FM has acquired 98.9 KXBT-FM from Border Media Business Trust for $6 million after getting approval today by The University of Texas Board of Regents.

Tuition and taxpayer funds will not be used for the purchase, KUT said in a press release.

The station will be rebranded as KUTX 98.9 and will feature non-commercial music content from KUT Performance Studio 1A and the Cactus Cafe. KUT 90.5 will focus on news and information.

The local radio station began broadcasting last month out of its new KUT Public Media Studios on the northeast corner of Dean Keeton and Guadalupe streets.

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