Austin's real estate market sucks
Posted by Danny Gallant on Wednesday, August 25th, 2010 at 10:54am.
We spend every day inundating you with dry statistics about the neighborhood. So, today, we'd like to take a moment to tell you something you might already know: the real estate market in Austin has slowed rather dramatically. Our inspector, who sees the entire market, says Austin is slower than it has been in his 18 years in business.Yikes.
For us as agents, this is not good news. Lately, I spend my days writing real estate articles for a "content farm". No, I'm not trapped in a tiny wire cage but....let's just say I'd much rather be out selling real estate. What gives? Well, we think many factors are at play: a sluggish economy, the fact that many sales this year got "front-loaded" for the tax credit, also, we think the slowing national economy has slowly, but finally, begun to catch up with our town.
But there's a silver lining in this cloud: If you're thinking about buying, or refinancing, we feel pretty confident saying this is an extraordinary time to buy in Austin. Austin is still a highly popular relocation destination and is expected to double in size in the next 15-20 years, according to the Real Estate Center at Texas A&M. Mortgage rates are at an all-time low. 3.95 percent for a fifteen-year fixed, according to Bankrate, and 4.5 percent for a 30-year fixed.
We've got some really lovely, amazingly-priced homes listed right now that are very close to downtown Austin. Check out these listings on our home page- they really are a great deal. Plus, if you buy one, you'll help "free" me from my cage.
Stay tuned for the next boring, dry, and surely down-in-price neighborhood update.
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