Market Conditions for Austin, Texas

Reported by Mike Cusimano, Broker Associate

Updated February 28, 2007.

There are many different opinions of the Austin market out right now but everyone seems to agree on one. We are low on inventory and that is a good thing for sellers especially as we go into the best selling season.

Did you know that you can buy real estate using your IRA or 401K? Ask us how.

The Austin real estate market is already off to a great start for 2007. We still have low inventory and a good bit of buyers looking while rates are still low. Word on the street is that rates will rise slightly soon so buyers that want to get more for their money are shopping now.

Home owners with ARM’s should consider refinancing ASAP to avoid future higher payments because interest rates are excepted to rise over time.

Most appreciation should come from muli-family and high end properties. Property owners that are looking to sell this year should prepare their properties now so they can put their properties on the market at the right time. Though, the best time of the year always seems to be between March and August, timing is everything. If there are more sellers than buyers in your area, it may be best to hold off until it changes. For a FREE HOME VALUE CHECK, more information on buying real estate using your IRA or 401k, call anytime at 512-672-4729

Location Characteristics: Austin is becoming more and more like other large metropolitian cities with all the amenities. Although Austin continues to grow at a fast pace, it still mantains its roots which is why Austin is so popular. More and more planned condominums with/without store frontage are now being developed mainly in central Austin as demand increases for downtown living. New home builders on the other hand are focusing on the outlining areas where growth continues. With new expressways and toll roads, traffic time has been cut in almost half. This will allow for continued growth in residential and especially commerical real estate. We now have several new huge shopping mall complexes, an outlet mall and name brand high end stores coming in. At this time, there’s no indication of slowing down the growth in the near future. In fact, in the central Austin area, homes are being torn down and larger custom homes are being built.