Free credit reports
WASHINGTON — The Federal Trade Commission is cautioning consumers not to be fooled by Internet sites offering "free credit reports," because only one authorized online source exists to get a free annual credit report under federal law. It's at www.annualcredit report.com, the agency says.
At any time, consumers can receive a free credit report yearly from each of the 3 credit reporting agencies. The web site is :
or call toll free (877) 322-8228
The FTC is stepping up its efforts to educate the public about online credit report scams after it says a California-based division of the Experian credit bureau tricked consumers into thinking they were getting a free report but didn't tell them they would automatically be enrolled in a credit monitoring service and billed $79.95 if they didn't cancel the service within 30 days.
The FTC said Consumerinfo.com will pay $950,000 to settle charges that it duped consumers. The agency also warned operators of 130 other Web sites to stop misleading consumers into thinking they were getting only a free credit report.
The FTC did not have figures on how many consumers it says ConsumerInfo.com deceived, but noted that 9 million credit reports were ordered from November 2000 to September 2003.
Current News Articles
Proposed Construction / Greater Austin - February 2011
Name * = Affordable Housing Units Area
** = Senior Housing
--------------------------------- ----- ----------------------
Central:
The Milan 100 Downtown/UT/Riverside
Robertson Hill II/Lane-SW 282 Downtown/UT/Riverside
Gables Republic Park 221 Downtown/UT/Riverside
Post 1500 S Lamar/Post 298 Downtown/UT/Riverside
5400 N Lamar/Camden 290 Downtown/UT/Riverside
Greystar Magnolia 245 Downtown/UT/Riverside
District SoCo/Kaplan 215 Downtown/UT/Riverside
Riverside Square Redev/CWS 300 Downtown/UT/Riverside
21st at Pearl/Lee Prop 121 Downtown/UT/Riverside
Northeast & Southeast:
Mueller Airport Site II/Simmons Vedder 300 Northeast
South Shore District I & II/Grayco 1175 Southeast/Riverside Dr
North & Northwest:
Crestview Station II/High Street Res 600 North
Riverhorse Ranch II/Belco 278 Pflugerville/RR/Gtown
Mansions at Round Rock II/Chaucer 237 Pflugerville/RR/Gtown
Criterion at Harris Ridge 400 Pflugerville/RR/Gtown
Greystar Stone Hill 300 Pflugerville/RR/Gtown
Two Rivers/Larry Peel 163 Pflugerville/RR/Gtown
Archstone Hogfarm 500 Cdr Pk/Leandr/Jollyvl
RIATA IX/Legacy 306 Cdr Pk/Leandr/Jollyvl
Crossings La Frontera/Simmons Vedder 357 Cdr Pk/Leandr/Jollyvl
Crossings Lakeline/Simmons Vedder 400 Cdr Pk/Leandr/Jollyvl
Camden Amber Oaks II/Camden 250 Cdr Pk/Leandr/Jollyvl
Park North/GenCap 600 Cdr Pk/Leandr/Jollyvl
Little Elm/GenCap 372 Cdr Pk/Leandr/Jollyvl
Fairfield at Ribelin Ranch 298 Cdr Pk/Leandr/Jollyvl
Crystal Falls/GenCap 488 Cdr Pk/Leandr/Jollyvl
South & West:
Stonecreek Canyon/Moody National 184 South/Hwy 71/I-35
Alexan Legacy Oaks/Trammell Crow 372 South/Hwy 71/I-35
Verde LaDera 300 South/Hwy 71/I-35
Vantage at Plum Creek* (Kyle) 264 South/Hwy 71/I-35
Colonial Village at Cityway 376 South/Hwy 71/I-35
======
Total (31 properties) 10,588
CENTRAL TEXAS OUTLOOK
Job market woes likely to ripple, expert says
2009
Apartments:
Dotzour said renters are taking on roommates or moving back home, even postponing divorces, because they can't afford two household.
Fewer people also are moving to the Austin area, dampening demand for apartments in a market that some experts have said is overbuilt.
But Dotzour said the pipeline of new apartments is shrinking, with 1,000 units to be added next year and between zero to 500 units expected to be completed in 2011.
Historically, there have been only a couple of years since 1992 when there were as few as 1,000 apartment units added, Dotzour said.
"This will be an unprecedented decrease in supply," he said.
In Heimsath's latest office-market report, he said the citywide occupancy rate, which has been dropping since the end of 2007, fell to 89
percent in June 2009 from 91.4 percent in December.
________________________________________________________
Austin Apartment Market Report
2009
SUMMARY OCCUPANCY CHANGE AVERAGE QUOTED RENT / UNIT
2008 2009 2008 2009 CHANGE
Austin 92.7% 87.5% - 5.2% $824 $824 0.0%
Dallas 91.0% 89.0% -2.1% $770 $776 0.8%
Fort Worth 88.6% 87.3% 1.4% $670 $673 0.5%
Houston 87.0% 87.6% 0.7% $715 $750 5.0%
San Antonio 90.0% 88.1% -2.1% $682 $693 1.5%
Corpus Christi 91.2% 91.5% 0.4% $699 $697 -0.4%
TEXAS AVERAGE 89.4% 88.1% -1.4% $734 $747 1.9%
NOTE: Austin: Since August of last year, this market has shown a decline each month in the Occupancy Rate.
The response has been an increase in concessions so that now over 50% of all properties are offering
some sort of rental concession, with the average Concession Package standing at 3.8 weeks free on
a 12-month lease. No indicators currently suggest a quick turnaround in this market.
________________________________________________________
AUSTIN APARTMENT MARKET
Local apartment market headed for a slowdown
2009
The apartment market in Central Texas is turning in renters' favor, a new report said. And it looks like the trend will hold for the foreseeable future as a wave of new complexes comes online, further reducing occupancy rates, the report said.
The region's apartments were 91.4 percent occupied in the firts quarter 2009, down from 94.1 percent in the year-ago according to Austin Investor Interests which tracks the market.
(Note: as of summer 2009 occupancy was down to 87.5%) Although the drop from the previous quarter wasn't big, it came in what is typically the strongest time of the year, when students move into campus-area apartments. It was only the second time in 15 years that occupancy has declined in the second quarter
The average rent was $824 a month, flat from the previous quarter. Two experts are forecasting rents to decline 3 to 5 percent during the next 12 months. One big factor is the high level of new construction. In the third quarter, 2,593 units were added, more than 4 times the number added in the third quarter of 2007.
And many more are coming in the 57 projects under construction, with more than 12,000 units left to complete. Half of those units are expected to open during the next two quarters, which have historically seen slow leasing activity,Lincoln is leasing the new Crescent apartment project at 127 E. Riverside Drive near Congress Avenue. Many of the 169 units are leased and are already being lived in
"Overall, we are not absorbing as many units as we should, given the continued, but lower, new job creation." Heimsath predicted that the region's apartment market will see nine to 12 months of slowly declining occupancy and that rents will decline 5 percent over the next 12 months. Willett said he thinks rents will decline 3 percent during the coming year, with that figure factoring in rent discounts.
Willett said that although the latest apartment numbers are "reasonably healthy," annual rent growth "has slowed dramatically from the 5 percent to 6 percent rate seen earlier, but it is still solidly in positive territory at 2.6 percent."
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