Things going on!

Wow! The economy is sinking and we are running out of options!



Sorry, that is another place, not here! In fact the home sales business is picking up and we continue to see growth in the area. Even though AT&T announced the move of 700 executive postions to Dallas later this year, the word is that only about 300 or so will actually move because they don't want to leave San Antonio. Impact on the housing market will be an incease of some higher end homes in the $400,000+ range. Since our average house sale is more like $150,000, this won't affect many of us.



What we do see as an impact is the ever slightly increasing interest rates. See our previous posts on this subject (MArch 3, 2008) and you can see where we are headed...higher interest rates and rising home prices. This week's rates are closer to 6.75% than we have seen in months. In March we were thinking 6% all summer, but with energy prices up and bonds taking a bruising, it has been anything but stable.



Take stock of your housing situation. If you don't need to sell, sit tight for a while as prices continue to rise with the reduction of inventory available. If you are looking to buy, get the house you want now as the inventory is reducing and interest rates are rising.

Keep a positive outlook, we are still in Texas!