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Home prices in Texas - especially in Austin - have defied the overall downward trend seen in other U.S. housing markets, according to a study by First American LoanPerformance.

In the Austin market, home prices increased 8.62% over the 12 month period ending in October.  Other Texas markets included in the study's top 30 statistical areas include Dallas-Fort Worth-Arlington, which increased 3.92%: Houston-Sugar Land-Baytown, up 4.52%; and San Antonio, with a 7.89% increase.

Home prices fell in 21 states over the past year, according to the index, which provides monthly home price indices and median sales prices covering 7,451 ZIP codes, 956 core-based statistic areas, and 662 counties in all 50 states as well as the District of Columbia.

"The real estate market continues to exhibit ongoing declines in a number of key residential property markets," say Damien Weldon, vice president, collateral and prepayment analytics for First American LoanPerformance.  "The overall picture continues to be mixed, however."

On a related note, for the 10th month in a row home prices across the U.S. dropped, according to a different study.

The record 6.7% monthly drop in the Standard & Poor's/Chase-Shiller home price index was the largest drop since April 1991.  The index tracks prices of existing single-family homes in 10 metropolitan areas compared to a year earlier.

A broader index of 20 metro areas fell 6.1%.  Among the 20 metropolitan areas used in the broader index, 11 posted record monthly declines and all 20 declined in October compared to September.

In the year-over-year comparison, Miami posted the largest decline among the 20 markets with prices down 12.4% in October compared with the same month last year.  Tampa, Florida was the 2nd wort performing city with declines of 11.8%.  Besides those two cities, Phoenix, Detroit, Las Vegas and San Diego also posted double digit year over year declines.

Only three areas included int the study- Charlotte, N.C., Portland, Ore., and Seattle - posted year over year home price appreciation in October.  Charlotte posted the largest gain at 4.3 percent.

The economy in Austin is Great!!!!

If you are thinking of:

 Buying or Selling a Home

I Want to Help!!!

Heather Brown

RE/MAX Austin Skyline

512-751-2931  or visit www.HeatherBrown.com

Zilker Park - Trail of Lights ~ through December 23rd

Originally known as Yule Fest, this annual event began in 1965 as a holiday gift from the Parks and Recreation Department to the citizens of Austin.  the festival includes a spectacular mile long display of 38 lighted scenes, the age old Yule log and an entertainment stage.  Children with eyes as bright as the lights gaze at glittery cutouts of golden rings and swimming swans, while couples savor the romance as they watch wheels turn, presents pop open and elves dance.  Don't forget to spin under the Zilker Christmas Tree :)

Whole Foods Market ~ through January 1st

Enjoy the cities only outdoor ice rink from 10am to 10pm throughout December atop this Austin born organic grocery store, located at 525 N. Lamar Blvd. downtown Austin.

Armadillo Christmas Bazaar ~ December 14th through 24th

Featuring 24 musical performances on the Capital Metro Music Stage, a full bar, good food, local and regional fine artists and crafts people plus that special Austin feeling that can only be found at the Armadillo Christmas Bazaar.  Enjoy dancing in the aisles while shopping for fine art and distinctive gifts right in the middle of downtown Austin!  Daily 11am to 11pm.

Jingle Bell 5K ~ December 16th

Join MADD and 2,000 of it's closest followers for the 22nd annual Jingle Bell 5K dressed as your favorite Elf or Santa.  This certified 5K and Kids' K run / walk provides a fun and unique holiday experience great for the experienced runner or anyone new to the sport.  Participants enjoy live music, refreshments, kids' games, photographs with Santa, costume contests, a wellness fair and more!  5K starts at 9am and Kid's K starts at 8:40am

remember................

Buying or Selling?

I Want to Help!!!

Heather Brown

RE/MAX Austin Skyline

512-751-2931 

or visit

www.HeatherBrown.com

Destination Hotels & Resorts (DH&R) will spend $4.2 million dollars upgrading Austin's historic Driskill Hotel.

The renovations are mostly cosmetic and include new decor for the the 188 guest rooms, the Driskill Grill and the hotel's 1886 Cafe & Bakery.

Austin's 121 year old downtown luxury hotel received a $30 million dollar renovation in 1999 under then-owner Great American Life Insurance Co.  The Driskill was sold to Colorado based DH&R for about $55 million dollars in 2005.

Interior design firm Vivian-Nichols Associates will oversee the hotel's revamping.

Remember.................

Buying or Selling?

I Want to Help!!!

Heather Brown

RE/MAX Austin Skyline

512-751-2931 or visit www.HeatherBrown.com

Date Changed to Sunday due to Rainy Weather

Open House Sunday from 1-4 Pm. Refreshments will be served! Please stop by  this fantastic house! Large Square Footage for the price! Friday on the Today Show, a National Real Estate expert said Austin was the number one up and coming place to purchase real estate and specifically the SoCo area! Please call Heather for directions 512-751-2931. We look forward to seeing you!
Owner is Motivated to Sell and Has Just Reduced the Price of this Fantastic Home to $195,000. Hurry - This Won't Last!
This Sprawling one story on a large corner lot has been listed in the very desirable Battle Bend neighborhood of South Austin – just minutes from SoCo! This House features a very open floorplan with Vaulted - Beamed Ceilings and Saltilo Tile in the main living areas. Fresh Exterior Paint and Recent Fence. 3 Bedrooms (all w/walk in closets), 2 Full Baths, 2 Huge Living Rooms, Island Kitchen and Formal Dining Room! 1,832 square feet! Price Just Reduced to $195,000!
MLS# 6763557
Heather Brown
RE/MAX Austin Skyline
512-751-2931 or visit www.HeatherBrown.com

Buying or Selling?
I Want to Help!!!