Central Texas Real Estate Blog

Spring 2020 Real Estate Market Update

2020 Is Predicted to be Another Record Breaking Year

Below is an excerpt of the Austin Board of Realtors February Press Release

Compared to January 2019, residential home sales in the Austin area increased 8.5% to 1,947 sales, and the median price increased 4.8% to $308,000, setting a record for the month of January. Housing inventory–which fell to 1.6 months–was driven to critically low levels across the [area] due to drops in both new and active listings. At the same time, increases in pending sales activity in January could signal further declines in inventory in the year ahead amidst strong housing demand.

Romeo Manzanilla, 2020 ABoR president, said. “We expect to see a significant increase in activity in the spring, when market...

Should You Refinance? YES!

It. Is. Time. To. Refinance.

According to a report by CNBC, mortgage rates were nearing 8 year lows in late February as Coronavirus fears pushed down the stock market and the 10-year Treasury yield.  The 10-year yield is generally a driver on mortgage rates and we are seeing that prove true over the past few weeks.

As a result, refinance applications are up 165% according to the Mortgage Bankers Association. We are seeing many of our past clients take advantage of these amazing rates and taking out some equity to pay off high interest credit cards, do some home remodeling or even paying for college.

If you have been thinking “maybe I should refinance,” the answer is YES and the time is NOW.

Give a call to the good folks over at Lendplicity Mortgage at...