It seems like every time you read a newspaper, turn on the tv or listen to the radio, there is always some economics expert giving his doom and gloom predictions of another pending mortgage meltdown. Though it is true that we are nowhere near the conclusion of the mortgage fiasco, one thing to keep in mind is that real estate is very much area dependent. What I mean by that is that though parts of the country have become figurative ghost towns due to foreclosures and relocations, Austin is one of the few metro areas that has enjoyed consistent economic growth. The Austin area is not without its fair share of foreclosure and short sales, but those areas primarily affected are usually in first time homebuyer communities in the outskirts of town. You will find the occasional foreclosure or short sale in the heart of Austin, but those opportunities are few and far in between because of the mass appeal of living close to where the action is. At social gatherings, when I meet someone new and I tell them that I am a Realtor, they usually ask "how's the market?" My usual response is "why do you ask?" It seems that people put too much of an emphasis on the real estate market and how it is doing and how it relates to the overall economy. Purchasing a home does impact and stimulate the local economy, but as with all other investments, there will be periods of appreciation and periods of depreciation. The days of flipping homes based on assumed appreciation are over. Real estate alwasys pays great dividends if treated as a home and an investment.
To learn more about Austin Real Estate, visit my site at www.romeom.com
Comments(2)