Real Estate Market

On votes of 98-0 and 403-12, the Senate and House have respectively passed legislation that includes an extension and expansion of the homebuyer tax credit. President Obama signed the legislation on Friday, November 6. Many parts of it take effect immediately. As of the signing of the legislation, the income limits increase to $125,000 adjusted gross income on a single return and $225,000 on a joint return. In addition, the so-called "move-up" credit is also in effect as of November 6. Thus, individuals who have used a home as a principal residence for 5 consecutive years of the past 8 years will be eligible for a $6500 refundable tax credit for purchases completed between November 6, 2009 and April 30, 2010.

Summary of Tax Credit

Below is a link for the Austin-Round Rock Metro market trend as of November 2, 2009.  This particular report takes into account the whole metro area, so may not be a good indicator of your own zip code.  If you would like stats for your particular zip code, please send me an email, ruthanne@greenhorserealty.com, and I'll get that to you promptly.

What I see on this report is that overall, house prices have been falling the past few weeks.  Again, this may not be the story in your neighborhood.  The chart also indicates that in the metro area, it is still a Buyer's market.

In the future, I hope to work in statistics for your individual zip code via this newsletter.  For now, give me a call or send an email, and we can chat about the market! 

Austin-RR Market Stats as of November 2, 2009