Following is a list of facts that make Austin a great place to invest:
- Population expected to grow 50% over the next 15 years.
- Austin added 26,500 jobs in the past year.
- Third fastest growing city in the nation; over 1,500 new residents each month
- Top employers: Dell Computer, Motorolas, IBM, Samsung Electronics, Convergys, Freescale Semiconductor, Austin Info. Systems, University of Texas, State of Texas.
- 4th in the Nation for Hottest Job Growth (Business 2.0, 2006)
- Home Sales Up 16% from last year (Austin Business Journal, Sept. 2006)
- 4th in the Best Overall Standard of Living (Expansion Management, 2006)
- 3rd Best Metro for Businesses and Careers (Business 2.0)
- Building Boon to Continue for Decades (Brookings Institute, 2005)
All this taken together means that Austin has all the makings for long term, strong appreciation growth. Even with the high property taxes, 20% down will get you cash flow neutral in a brand new home. Also, the property taxes are suppose to be coming down over the next few years. We are forecasting 7-10% + appreciation in the neighborhoods / developments that we are offering properties.
When we look at markets to determine whether we will bring our investors in or not, we look at three big picture items: Population growth, job growth and intangibles. We define intangibles as things that make a market a nice place to live and things that attract people to the market. One intangible that most of our markets have is water features, a river running through &/or lakes and streams nearby. Here is an example of another "intangible" that most wouldn't think of yet it definetly makes Austin a nice place to live and it attracts people to the downtown area. You can follow the link to the entire article.http://austin.bizjournals.com/austin/stories/2007/03/19/daily9.html
Austin named one of best cities for walking
Austin Business Journal - 10:32 AM CDT Tuesday, March 20, 2007
Austinites are getting some more national attention for getting off the couch.
Prevention magazine and the American Podiatric Medical Association have named Austin the second
best city in the country for fitness and walking.
This is the second year in a row that Austin has topped the list of the top 12 American cities best
suited for walking.
Now for the mandatory call to action: If anyone out their has a client that is interested in Austin, TX please refer them to me and receive a 25% perpetual referral fee. Everytime your referral does a transaction with us you receive the fee. Fyi, most of our clients do multiple transactions because they are building portfolios.
Hope everyone has a great weekend.
Comments(3)