By Kathleen Lynn
THE (HACKENSACK, N.J.) RECORD
Sunday, November 18, 2007 HACKENSACK, N.J. — Real estate agents often warn sellers about the danger of overpricing a house. Now, they have evidence to show skeptical clients: research by Jeffrey Otteau, a New Jersey appraiser.
He found that in a market where prices are declining, sellers who “test the market” with a high price usually end up with a lower price than those who price realistically.
“Houses that are priced right are selling,” Otteau said. “Overpricing extends days on the market and guarantees that you will sell your home for less in a declining market.” >>>Click for full article
By Shonda Novak
AMERICAN-STATESMAN STAFF
Saturday, November 10, 2007
Former Schlotzsky’s Inc. chief executive John Wooley revealed plans Friday for a 74-unit luxury condominium project he plans to build by Zilker Park and Lady Bird Lake, an area of town he thinks is headed toward a transformation.
Wooley plans to break ground in late spring or early summer on Zilker Place, which will be built on about 2 acres on the northwest side of Barton Springs Road and Sterzing Street. The site, on Zilker Park’s eastern edge, is adjacent to parkland that abuts the hike-and-bike trail. >>>Click for full article
ROUND ROCK (Austin American-Statesman) – Cornerstone Real Estate of Chicago has sold the Steeplechase Apartments at 515 E. Palm Valley Blvd. to Crest Asset Management of Dallas.
The 17-acre complex, built in 1996, has 324 units in 16 buildings. About 40 percent of the units have two bedrooms and two baths.
Apartment Realty Advisors represented Cornerstone. >>>Click for full article
By American Statesman staff | Wednesday, November 7, 2007, 03:43 PMSo far, Austin has avoided the worst effects of the deepening national real estate slump. Sales are slowing, but prices are holding up in many segments.
Not so lucky are the former bubble markets on the East and West Coasts, where sales are downright cold and prices are sliding from their lofty highs.
Fortune magazine worked with Moody’s economy.com to forecast price trends for 54 major markets over the next five years. >>>Click for full article
By Paul Kaihla, Business 2.0 Magazine senior writer
Austin
Projected median sales prices for single-family homes:
Q1 2008: $186,350
Q4 2009: $195,060
Growth rate: 4.7 percent
In Austin, the rental market takes a backseat to buyers, many of whom hold high-paying jobs with tech giants like Dell, IBM, and Freescale Semiconductors. Austin’s population is well educated - 40 percent have a university degree - and the Texas capital ranks among the top major metropolitan areas for business startups per capita. Austin also has the highest percent age of residents in the coveted 25- to 34-year-old demographic and, >>>Click for full article
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