Free Real Estate Directory
People are funny about money and never so much as during a depression…er I meant recession! Times are a little unsettling, I will admit it. I find myself tightening up my purse strings more now than ever before. Turning on the news or logging on to Yahoo does nothing to ease my confidence as I am blasted with bad news from everywhere! But…there is good news for us folks in real estate here in central Texas. Ask just about any Realtor, economist, or Austin politician and they’ll tell you that Austin survived the crisis that many other communities around our nation were subject to. We’ve been in a cozy little bubble here and thankfully according to new stats released by ABOR it looks like we will survive the slide.
So homeowners, cheer up! I know depending on where your house is located your property value might have dropped faster than a Tiger Woods sponsor…Hang in there. These stats are encouraging for all. Chairman of the Austin Board of REALTORS®, Judith Bundschuh is quoted as saying, “”Though some aspects of the real estate market have fluctuated in the last few years, one thing has remained steady for Austin and that’s price appreciation.” Great news for those of you regarding your long-term investment right now as nothing more than an albatross around your neck! Before you start pondering the amount of your homeowners insurance policy, take heart. Chairman Bundschuh goes on to say, “”This degree of price stability, despite fluctuations in sales volume, indicates long-term strength in Austin’s real estate market.”
If you are one of those who found themselves outside of the bubble and without job security, there is hope for you as well. There are many hungry investors out there who might just be able to get you what you need financially and keep you out of foreclosure. Do your homework though! Ask questions and get everything in writing! Do not let anyone pressure you or use high pressure sales tactics. Honest and ethical investors will be open with you as to what they hope to get on their return for your investment. Our family business has done well because we’ve tried to ensure that both parties of the transaction comes away with the best possible outcome. Be wary, there are many snake oil salesmen (and women) in the real estate investment business!
Protect your investment and hang in there! I will leave you with some other interesting stats that should encourage us. Although at first look we may think otherwise, the Austin market has been able to hold its own. Even better is that April is looking even stronger!
March 2011 Statistics
- $396,389,773 – Total dollar volume of single–family properties sold, five percent less than March 2010.
- $185,260 – Median price for single–family homes, two percent more than March 2010.
- 1,597 – Single–family homes sold, 10 percent less than March 2010.
- 96 – Days on market, 32 percent longer than March 2010.
- 3,480– New single–family home listings on the market, 17 percent less than March 2010.
- 9,156 – Active single–family home listings on the market, 11 percent less than March 2010.
- 2,012 – Pending sales for single–family homes, 17 percent less than March 2010.