The Housing Market in Austin is Picking up over the First Quarter

AUSTIN (Texas Association of Realtors) – The Texas real estate market gained positive momentum in first quarter 2012, according to the Texas Association of Realtors’ latest Texas Quarterly Housing Report<http://www.texasrealestate.com/web/2/25/downloads/TQHR-2012-Q1.pdf?>, which was issued this week.

 

For January through March 2012, the volume of single-family home sales in Texas was 45,502, 12 percent more than the same quarter in 2011. The median price for Texas homes during the quarter was $147,100, up 2.7 percent more than a year ago.

 

Months inventory was at six months. Experts say a 6.5-month inventory represents a balanced market.

 

Real Estate Center Research Economist Dr. Jim Gaines said he believes several factors are driving the strong performance of the first quarter, including continued job growth in Texas and some increased access to credit for homebuyers.

 

Most of all, Gaines said there’s beginning to be a shift in Texans’ attitudes toward real estate. Essentially, buyers and sellers have higher expectations for the market, so they’re beginning to take action, and the state is starting to feel the impact.

 

STATE CLARIFIES NOTICE OF PROTEST DEADLINE

 

AUSTIN (Office of the State Comptroller) – The State Comptroller’s Office has clarified when homeowners must file notices of protest with appraisal review boards (ARB).

 

Although Tax Code Section 41.44 subsection (a)(1) states that such notices must be filed before May 1 or no later than the 30th day after notices of appraised value are delivered, there is some flexibility.

 

According to Deborah Cartwright, director of the Property Tax Assistance Division (PTAD) with the State Comptroller’s Office, “if an owner of a single-family residence files a notice of protest after the deadlines found in subsection (a)(1), but before June 1 and before the ARB approves the appraisal records, then the owner is entitled to a hearing and determination of the protest.”

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About melissagriggswebb

My professional career has always had a focus on sales and marketing including a diverse mix of technology and media sales as well as fund raising and event planning experience. My passion for residential real estate and design led me back to Texas almost a decade ago at which time I acquired my real estate license. I escalated my real estate career when I partnered in a business with my husband, Robert, in which we renovate homes in the Central Austin area. We have a daughter who is the joy of our lives and keeps us on the go and on our toes! Besides my family, my interests include art, design, jogging and music. I am a member of the Austin Board of REALTORS®, the Texas Association of REALTORS®, the National Association of REALTORS® and Member of Who’s Who in Luxury Real Estate. My enthusiasm for the highly desired Austin lifestyle, in addition to my extensive knowledge, resourcefulness and professionalism, make me the one to call for properties in Austin.
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