Friday, January 18th, 2013 at 4:08pm. 6058 Views, 0 Comments.
The climate at the fifth annual housing forecast event held by the Home Builders Association of Greater Austin and the Austin Board of Realtors was positive and forward-thinking. I liked what I heard on January 8, and I like what the numbers indicate for real estate investing in 2013. Here's what the experts have to say.
- Low interest rates are here to stay, likely through 2015. We may see a little bobble up or down, but there shouldn't be any major changes.
- Home prices are going up steadily, a fact which can in itself further fuel the recovery, because rising prices move some waffling buyers off the fence. Climbing prices motivate buyers by making them think, "I better move now, before I have…
Thursday, December 20th, 2012 at 2:25pm. 1393 Views, 0 Comments.
Obviously if you're going to be in the game of real estate investing, a strong tenant base is a primary concern. The latest news on population growth in Austin suggests that in that department, the bases aren't just covered, they're overflowing.
City Demographer Ryan Robinson reports that from April 1, 2010 to July 1, 2011 nearly 70,000 new residents moved here, making Austin one the fastest growing metropolitan regions in the nation. Forbes agrees, having just tapped Austin for the number one spot on its "America's Fastest-Growing Cities" list for the second year in a row.
People are moving here from all the other major urban centers in Texas, with even more coming from Florida, New York, Ohio,…
Thursday, December 6th, 2012 at 9:40am. 1726 Views, 0 Comments.
Coming out of the election season and going straight into the holiday madness, the pundits and newscasters are having a field day with negative reports about foreclosures and mortgage delinquencies. The issue of the fiscal cliff is certainly real, and has implications for all of us, but if we listened to all the naysayers on the networks, we'd throw ourselves off that cliff long before we're driven off.
Here's the thing you have to remember about the nightly news. We're talking sound bites. The real picture about what is happening in the housing market is too complex to be dealt with in a couple of minutes before the next commercial. A large part of that deeper story involves how people are ordering…
Thursday, October 11th, 2012 at 5:10pm. 2202 Views, 0 Comments.
Whenever I can type the words "demand is up in all sectors," it's a happy day for me, and for anyone interested in real estate investing. The numbers that have been coming in all summer on prices, rents, and occupancy rates are as good -- better than what we were looking at back in 2007 before the recession hit. In fact, Capitol Market Research is putting the occupancy rate at 97.8 percent, which is a record. Investors are coming into Austin from all over the country.
But before we completely jump on the optimism band wagon, I do want to pause just a minute and talk about due diligence. Only a small number of multi-family units are up for sale right now, and it's more important than ever to know…
Thursday, September 20th, 2012 at 4:38pm. 817 Views, 0 Comments.
If you have any doubts about the health of the real estate market in Austin take a look at the article, "Multiple Offers Make a Comeback" by Autumn Rhea Carpenter in the September/October issue of Austin Realtor. The piece includes the story of one realtor whose clients submitted an offer on a house only to be faced with stiff competition -- 12 offers on the same property in 24 hours! If you get in a situation like that on a property you really want, is how do you make yourself stand out?
The most important thing is to illustrate that you're serious about showing up for the closing. You're there to do business and you're interested in making that happen. First and foremost, make sure all realtors…
Tuesday, September 4th, 2012 at 9:25am. 1239 Views, 0 Comments.
Each month, Realtor.com compiles listing information across 146 markets. The numbers provide a good blood pressure check of what's going on in the industry based purely on consumer behavior. As investors, we have to keep our eye on economic indicators relevant to our market. The July figures indicate several positive trends I want to highlight.
First, sales of existing homes are up. That's always a good sign. People buy when they have confidence in their financial position as it relates to the broader economy. Especially as we enter the presidential election season, the fact that buyers are willing to take on a mortgage -- and that they can qualify for that financing -- is an indicator of…
Thursday, August 16th, 2012 at 9:31am. 1859 Views, 0 Comments.
It probably won't surprise real estate investors to hear that Austin is the number four city in the nation for gentrification projects. Of these, the one I'm personally most excited about is the Mueller Development that has no less than 11 major projects in the works to completely transform the area, which is three miles from downtown and the Capitol and two miles from the University of Texas.
If there's any place that screams, "Location, location, location" more than that, I don't know what it would be! Let's look at what's going on down there:
● A 112-room, four-story Residence Inn by Marriott will go up at the southwest corner of 51st Street and Lancaster. With one…
Thursday, August 9th, 2012 at 9:08am. 969 Views, 0 Comments.
Hang in there, folks! Just a few more weeks, and we will have done it, survived another Texas summer. The temperature hasn't been the only thing red-hot in this neck of the woods since my last post in May, so let's do some catching up.
In my own business, we closed more transactions in the last six months than we did in all of 2011. The market is benefiting from interest rates sitting at an all-time low, and there are plenty of property bargains to be had. The specific numbers about key market trends calculated in June more than prove my point.
When you compare the June numbers to the same indicators a year ago, everything is trending upward. Sales of single-family homes are up 23%…
Wednesday, May 16th, 2012 at 4:07pm. 7251 Views, 0 Comments.
This will come as no surprise to anyone that has been stuck on MoPac in the morning, but Austin was recently recognized as the Second Best Real Estate Investment Market in the country by Realtor.com - Just behind Tucson, Az., and seriously, who wants to live in the desert? With plenty of open green areas, an influx of high tech jobs (Welcome New Apple Campus!) and no state income tax, it is easy to see why people are flocking to our fair city. Additionally, Austin's potential for price growth is one of the best in the nation - and the median list price of $229,500 is about 12 percent higher than just one year ago.
With all this attention, many investors are taking this opportunity to…
Thursday, May 3rd, 2012 at 1:55pm. 986 Views, 4 Comments.
One of the aspects of Austin living that I am most proud of is the community's focus on green living. The Mueller project is the perfect example. Originally conceived of in 1984 as an attempt to increase the sustainability of urban living, it has taken almost thirty years for the dream to come to fruition. Now green living is red hot and the East Side of 35 is a target for smart investors. A mixed living development that boasts 1 tree for every 4 parking spots, encourages walking - not driving, built to increase water and energy efficiency and revels in the preservation of green spaces - only a stones throw from downtown? What's not to love?
A rising tide lifts all boats and the influx of…
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