Austin, Texas ( PressReleaseStudio ) October 31, 2009  – Sales figures for September 2009 indicate that the Austin real estate market continues to rebound, with home sales increasing by 6% over figures for the same month last year.  This increase is credited in part to the implementation of the First-Time Homebuyer’s Tax Credit, which offers up to $8,000 for home buyers purchasing a primary residence.

Recently released sales figures for the month of September 2009 show a 6% increase in Austin home sales over the comparable period last year according to data just released by the Austin Board of Realtors.  The figures reflect the first year-to-year comparative increase in over two years.  This increase is widely regarded as good news by those in the real estate industry, as it is a further sign that Austin’s housing market is on the path to recovery from recent downturns in home sales and prices.  Austin has been largely shielded from the ill effects other cities have suffered in recent years; most analysts believe this is due to the stable economic conditions in Austin, including its vibrant employment scene.

Realtor Doris Cline of Affinity Properties concurs that this is a positive sign for Austin real estate.  “We’re seeing the signs of recovery in the real estate market.  This is good news for homeowners, especially those looking to move up to a larger home.  Chances are they’ll be able to sell their current home more quickly and easily.”

Median home prices in the Austin area also saw an increase compared to September 2008, rising 2% over the previous figures.  The median home price in Austin and the surrounding areas for the month of September was $185,250.  Overall, the 2009 median home price for Austin was $185,500, down slightly from the 2008 figure of $187,250.  Austin home values have remained fairly stable in recent years despite the industry-wide housing bubble crash.

Austin real estate analysts attribute a portion of these increased sales to the First-Time Homebuyer’s Tax Credit, which offers significant incentives for home buyers who have not owned a home in the past three years.  This assessment is due in part to the fact that nearly half of all sales in September were of homes priced between $100,000 and $200,000, the typical range for first-time buyers.  The credit can provide up to $8,000 to qualified home buyers and is set to expire November 30, 2009; many real estate experts expect to see increased sales until that date at least.

About Affinity Properties
Affinity Properties is one of the most productive and experienced Austin Texas real estate brokerages. For over six years, Affinity Properties has served the commercial and residential real estate needs of the West Austin area from Lake Austin to Lake Travis, offering personalized advice and unparalleled customer service to buyers and sellers alike. Affinity Properties is a Re/Max agent in the Austin, Texas area. For more information, visit our Austin real estate websites at www.AffinityProperties.com and www.JoeCline.com.

About RE/MAX International, Inc.
RE/MAX was co-founded by Dave and Gail Liniger in 1973. From a single office in Denver, Colorado, RE/MAX has grown to be a global network of nearly 100,000 Sales Associates in more than 70 countries. No one in the world sells more real estate than RE/MAX. Today, all U.S. home listings in thousands of cities and towns can be found at www.remax.com.

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Austin, Texas ( PressReleaseStudio ) October 30, 2009  – As of November 2, 2009, buyers in the market for a condominium may find fewer mortgage options available to them; strict new regulations set to take effect will prevent many buyers from qualifying for FHA-backed mortgages on condominium properties.  Mortgage lenders and real estate agents have expressed grave concerns about the chilling effect of these new rules, which are still under review by the FHA.Changes to the regulations governing FHA-backed condominium mortgages may create serious obstacles for buyers and do further damage to the struggling housing sector.  By placing further restrictions on which properties qualify for FHA insurance, these new rules will make condominiums a far less attractive option for home buyers.

The new regulations will eliminate spot approvals, requiring rather that the entire condominium development meet FHA standards in order for the property to qualify for FHA mortgage insurance.  Additionally, only 30% of the units in any condominium project may receive FHA-backed loans, and over 50% of the units in a given project must have already been sold before any units can qualify for FHA mortgage insurance.  It is believed these new requirements will have a serious dampening effect on the recovering condominium market, since far fewer units will qualify for FHA mortgages under these restrictions.   Currently, FHA-guaranteed condominium mortgages require only a 3.5 percent down payment, making these housing units especially attractive to first-time buyers and providing an entry point into the housing market.  Under the proposed regulations, many condominium units will instead require conventional financing and the 10-20% down payments associated with that type of loan.

These new regulations are considered onerous by condominium builders, since it is far more difficult to obtain FHA approval for an entire project than for a specific unit.   The elimination of spot approvals will mean additional costs and delays in selling units.   Because of the new requirement that 50% of the units be sold without benefit of FHA-backed financing before any FHA-insured loans will be made, builders believe that it will be more difficult to attract buyers for newly-built developments with fewer than half the units sold already.  This is expected to depress the condominium market, still reeling from recent housing industry woes.

If the regulations are implemented as currently written, the Austin condominium market is expected to feel the effects immediately.  Joe Cline of Affinity Properties, an affiliate of RE/MAX Capital City, stated, “These new FHA regulations will likely have a chilling effect on condo sales in the Austin area.  By limiting FHA loans in newer developments, we’ll likely see a reduction in the number of new condos being built in the area as well.”   The new regulations are currently under review by the FHA, and may see some changes before final implementation.

About Affinity Properties

Affinity Properties is one of the most productive and experienced Austin Texas real estate brokerages. For over six years, Affinity Properties has served the commercial and residential real estate needs of the West Austin area from Lake Austin to Lake Travis, offering personalized advice and unparalleled customer service to buyers and sellers alike. Affinity Properties is a Re/Max agent in the Austin, Texas area. For more information, visit our Austin real estate websites at www.AffinityProperties.com and www.JoeCline.com.

About RE/MAX International, Inc.

RE/MAX was co-founded by Dave and Gail Liniger in 1973. From a single office in Denver, Colorado, RE/MAX has grown to be a global network of nearly 100,000 Sales Associates in more than 70 countries. No one in the world sells more real estate than RE/MAX. Today, all U.S. home listings in thousands of cities and towns can be found at www.remax.com.

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Austin, Texas ( PressReleaseStudio ) October 03, 2009  – Preparations are already well underway for the 2009 Austin City Limits Music Festival. One of the big events of the world-renowned Austin music scene, the festival is scheduled to run from October 2-4, 2009, and features such well-known bands as Pearl Jam, the Dave Matthews Band, the Yeah Yeah Yeahs, Mos Def, and Flogging Molly.

Austin is known as the Live Music Capital of the World, and for good reason; Austin offers the perfect creative environment for songwriters and performers and countless live music venues and events designed to showcase their talents. The Austin City Limits Music Festival is one of the largest and best-known such events. Each year it features performances by famous artists spanning the entire range of popular music; from hip-hop to gospel to classic rock and roll, Austin City Limits covers the musical spectrum.

This year’s festival will be held in scenic Zilker Park and features performances held on seven separate stages, including the centrally located Austin Ventures Stage and the Livestrong Stage, which is dedicated to the fight against cancer. The stage was named in honor of Lance Armstrong, and Austin City Limits festival promoters are urging guests to dress in yellow on Friday night to show their support for cancer research and the search for a cure; Friday is Livestrong’s Global Day of Awareness and Action.

Festival officials are advising guests that they should dress comfortably for the weather and the venue; the large stages are located about half a mile from each other within the 46-acre park, so comfortable shoes are a must. Transportation will be provided via shuttle service from Republic Square Park, allowing easy accessibility from downtown Austin. Guests are encouraged to bring along a reusable water bottle; free water stations will be available throughout the park.

Friday night features performances by the Kings of Leon, the Yeah Yeah Yeahs, Coheed and Cambria, the Gospel Silvertones, and the Palm School/Barton Hills Choir, among others. Saturday offers up acts including the Dave Matthews Band, the Levon Helm Band, Mos Def, Flogging Molly, the Decemberists, and the River City Christianettes, while Sunday’s lineup includes Pearl Jam, the Toadies, the B-52s, Arctic Monkeys, State Radio, and the Rebirth Brass Band. The Austin City Limits Music Festival offers something for every musical taste. For the kids, Austin Kiddie Limits offers games, School of Rock workshops, activities, and live music from performers like Loose Cannons, Lunch Money, Milkshake, Secret Agent 23 Skidoo, and The Telephone Company. Children ten and under enter the festival free with a paid adult admission.

Joe Cline of Affinity Properties stated, “The Austin City Limits Music Festival brings out the community every year, and showcases the vibrant musical heritage of the Austin area. It’s just one more reason Austin is such a great place to live and work.” This year marks the seventh annual Austin City Limits event; in its first year, 2002, it featured acts including Ryan Adams, the Blind Boys of Alabama, Shawn Colvin, and Austin’s own James McMurtry. In 2009, Austin City Limits continues to reflect the live music scene of Austin at its best.

About Affinity Properties

Further information on Joe Cline’s team and the Austin real estate market is available at our west Austin real estate site or our Austin real estate site, including informative blogs on recent developments in real estate in Austin and the surrounding areas and helpful hints when buying or selling properties. Once again, Joe Cline and his team of realty professionals are putting the customer first by providing cutting-edge services for the modern real estate world.

About RE/MAX International, Inc.

RE/MAX was co-founded by Dave and Gail Liniger in 1973. From a single office in Denver, Colorado, RE/MAX has grown to be a global network of nearly 100,000 Sales Associates in more than 70 countries. No one in the world sells more real estate than RE/MAX. Today, all U.S. home listings in thousands of cities and towns can be found at www.remax.com.

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Austin, Texas (Quality PressRelease ) September 24, 2009  – Affinity Properties continues its record of success in the Austin, Texas real estate market, celebrating six years of excellence and commitment to putting the customer first.

As a Realtor, Doris adds her own unique perspective, working with clients to ensure the security of their property and protecting their interests before, during, and after the sale; her knowledge of real estate and home security are invaluable assets to buyers and sellers alike, and are especially important in the commercial real estate market.

Peggy Galina provides twenty-five years of experience in real estate administration and support for the Affinity Properties team. Her customer service skills are unmatched, and her years of experience in real estate ensure that every real estate transaction is handled with expertise and finesse. Peggy’s organizational skills ensure that no detail is overlooked, providing clients with a smooth, streamlined experience.

The past few years have been challenging ones for the real estate industry, both in Austin and nationwide. Affinity Properties has stepped up to the challenge, providing world-class service to its clients, backed by the knowledge and expertise to help home buyers and sellers navigate the current real estate market. Affinity Properties has always been committed to delivering the best customer service in the real estate business; today, more than ever, this commitment shines through.

Providing real estate services throughout Austin, including Cedar Park, Pflugerville and Round Rock, Affinity Properties now celebrates six years of excellence in real estate. Combining experience and in-depth knowledge of both the residential and commercial real estate market, Affinity Properties is uniquely qualified to serve all aspects of the Austin real estate community. The company’s slogan says it best: Excellence isn’t expensive. It’s priceless.

About Affinity Properties

Further information on Joe Cline’s team and the Austin real estate market is available at our west Austin real estate site or our Austin real estate site, including informative blogs on recent developments in real estate in Austin and the surrounding areas and helpful hints when buying or selling properties. Once again, Joe Cline and his team of realty professionals are putting the customer first by providing cutting-edge services for the modern real estate world.

About RE/MAX International, Inc.

RE/MAX was co-founded by Dave and Gail Liniger in 1973. From a single office in Denver, Colorado, RE/MAX has grown to be a global network of nearly 100,000 Sales Associates in more than 70 countries. No one in the world sells more real estate than RE/MAX. Today, all U.S. home listings in thousands of cities and towns can be found at www.remax.com.

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