In an article published the day after Christmas in the Austin American Statesman showed that Austin is one of the top markets for buying undervalued real estate. This is compared to the rest of the country where many markets are overvalued with their home prices. Investors should take note that Austin is still a good place to buy homes because they are going to see solid appreciation. (more…)
Entries from December 2007
Is the Austin Real Estate Market a Bargain?
December 28, 2007 · No Comments
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Business Growth · Buying Real Estate · Everything Austin · Housing Market · Investing in Austin Real Estate · Market Update · Nationwide Update · Real Estate · Real Estate Trends · homes for sale in Austin texas
Tagged: austin, Austin Real Estate, home prices, real estate bubble, texas
Austin is a Top Growth City for Home Appreciation
December 27, 2007 · No Comments
|
Top 20 Metropolitan Statistical Areas and Divisions with Highest Rates of House Price Appreciation According to the Office of Federal Enterprise Housing Oversight |
As you can see Austin home appreciation increase almost 29% over the past 5 years. That is due to the job market increasing and being stable. Job growth continues at 4-5% with the unemployment around 4%. This area is becoming a destination for many people as the population growth has increased especially in the over 50 range. More and more retirees are moving into the Austin area.
I think we will see this continued growth pattern in the Austin area because of all the things Austin has to offer. Lakes, the Hill Country, the music scene, laid back lifestyles, and nice people.
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Buying Real Estate · Housing Market · Investing in Austin Real Estate · Market Update · Nationwide Update · Real Estate · homes for sale in Austin texas
Weekly Austin Real Estate Update for December 15, 2007
December 18, 2007 · No Comments
Every week I run into people who think the real estate in Austin is going to tank. That’s not likely to happen during 2008. I think people are over reacting the national home news with all the increase in foreclosures and price drops. In Austin I think we are seeing a lull in sales and an increase in the amount of homes for sale. The Austin Business Journal reported recently one the top builders here (Centex Homes) decided not to build a 1,400-home community in north Austin. (Read the Centex full story here)
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Buying Real Estate · Housing Market · Investing in Austin Real Estate · Market Update · Real Estate · homes for sale in Austin texas
Tagged: austin, Austin Texas, austin economy, job growth,
Austin Weekly Real Estate Update
December 4, 2007 · No Comments
Here is the weekly Austin real estate update for week of November 18-24, 2007. This information is provided by Alamo Title which offers excellent resources for buyers and sellers.
From this chart we can see that the number of withdrawn and expired listings has risen over the month of November. This is because sellers have overpriced their property and are not in good condition. Homes are selling quickly in Austin if they are priced in the market range. Most of the expired and withdrawn listings are priced over $350,000. Homes priced under $250,000 are selling quickly if they are priced right and are in top condition.
Sellers hate to drop prices, but as we are now seeing an increased number of failed sales attempts in Austin, because Buyers are saavy enought to see when they are not priced right.
Overall during the past week listings have increased to 613 compared to 350 in the same week in 2006. The number of Sold properties dropped. There were 155 sales in this week and in 2006 there were 386. The number of Pending sales remained equal to last year at 330. (more…)
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Business Growth · Buying Real Estate · Everything Austin · Housing Market · Investing in Austin Real Estate · Market Update · Real Estate · homes for sale in Austin texas
