Shin Oak Realty is a full service Real Estate office specializing in the Central Texas Real Estate market.
Our Team: Randy O'Dell, Suzy Bates, Candice O'Dell, Bradley "BJ" O'Dell & Barbara Childers

Tuesday, March 23, 2010


AUSTIN (Austin Business Journal) – Despite the national recession, Texas banks increased their lending levels in 2009, with a cumulative $247.1 billion in loans sent out from the state’s 629 banks, according to the Federal Deposit Insurance Corporation (FIDC).

That is compared with $233.5 billion lent from Texas banks in 2008 and $229.1 billion during 2007.

The FDIC does not discern between the types of lending that has occurred when making its calculations. Industry experts warn that the increased lending activity is good news if it was used to prompt business expansion, but not if it was caused by increased credit card debt.

Local bankers indicate that much of their increased lending activity was from businesses applying for loans at Texas banks after being turned down by national banks.

High oil prices and banking regulations adopted in Texas following the real estate bubble of the late 1980s and early 1990s largely muted the recession’s effects. Those regulations, coupled with the Lone Star State’s business sector diversity, are contributing to its strong lending position, said John Heasley, general counsel for the Texas Bankers Association.

Nationally, total loan and lease balances fell to $7.2 trillion in 2009 from $7.8 trillion in 2008 and $7.9 trillion in 2007, reported the FDIC.

Tuesday, March 9, 2010


NEW YORK (New York Times) – April 5th will mark the beginning of a new program by the Obama administration intended to end the foreclosure crisis — one that will pay homeowners to sell their homes.The program will allow owners to sell their homes for less than they owe and give them cash to expedite the process.

Hundreds of thousands of delinquent borrowers will be encouraged to sell their houses through short sales, in which properties are sold for less than the balance of the mortgage.

The new program will give the servicing bank $1,000, and another $1,000 may go toward a second loan, if one exists. The distressed homeowners will also receive $1,500 in relocation assistance.

Borrowers could suffer less damage to their credit ratings under the new program, and they will receive the lender’s assurance that they will not later be sued for an unpaid mortgage balance.

Wednesday, March 3, 2010


WASHINGTON, D.C. (Associated Press) – Homeowners have received another year to refinance their loans under the Home Affordable Refinance Program, the Federal Housing Finance Agency announced yesterday.

The program, which was originally scheduled to end June 10 but now expires June 30, 2011, allows borrowers who owe up to 25 percent more than their homes are worth to refinance at lower interest rates.

The Treasury Department reports that, so far, the program has helped about 220,000 homeowners with loans owned or guaranteed by Fannie Mae and Freddie Mac, far less than the projected four to five million.


AUSTIN (Austin Business Journal) – Texas expects to receive $2.25 billion for about 450 highway projects statewide from American Recovery and Reinvestment Act road construction funding.

About 320 of the projects are currently under construction.

These dollars are leveraged with state funds, including about $12 million awarded last month to Central Texas projects, according to the Texas Department of Transportation.

Nationwide, the bill signed last year is expected to pump $26.1 billion into the nation’s road infrastructure.

Vice President Joe Biden and U.S. Transportation Secretary Ray LaHood announced the funding yesterday.

Monday, March 1, 2010


COLLEGE STATION (Real Estate Center) – Which Texas cities made Forbes' list of best housing markets in the country, and which North Texas city has gone off "the deep end"?

Find out on this week's edition of the Real Estate Red Zone podcast.

Hosts Bryan Pope and Edie Craig come in from the cold to talk about the latest news in Texas real estate.

To subscribe to the free podcast, just click on the RSS feed found on the podcast page. The podcast is also listed in iTunes. And don't forget to tell your friends about it.