It could Be as easy as 1-2-3.
1. Email: roundrockhomes@gmail.com for your Free Guide to Austin Living.
2. Browse the Best Neighborhoods Austin Has To Offer. http://austintexashomes.com/
3. Get all the background information you need on my blog: http://activerain.com/alanmaz
MARKET NEWS
Volume Decreases, Prices Increase
The final reports for the end of December '07 are in...Single Family home sales in Austin ended 8% lower in volume than 2006, but the median price of a home jumped 6% over last year. The following article sheds some interesting light on this...abor.com
The Looming Boom
According to the U.S. Census Bureau, Texas is expecting a population increase of 10 million people between 2005 and 2030. Currently most of Texas' population resides within the Texas Triangle (located roughly just north of Dallas, just west of San Antonio, and just East of Houston) in urban areas, and the Census Bureau projects that most of our growth will likewise occur in this triangle, although rural areas will grow significantly, too.
Along with this population growth comes plenty of job growth. Texas is expected to add another 4.5 to 5.8 million jobs. This growth will be due in part to Texas' employment-friendly characteristics, like our ample supply of low-cost, non-union labor, continued importance of the energy industry, low business operating cost, and affordable housing.
Housing growth is expected to be one of the biggest growth stimulants for Texas. So far, Texas homes have remained affordable to home buyers, as compared to states like California and Florida. In mid 2007 the median price of a home in was $151,000 and in California it was $589,000. The median family income in Texas was 152% of what was required to qualify for the median home in our state.
What does this mean to you? While the media claims we are on the verge of a major financial collapse, projections show that, at least over the next 20 years, Texas is still the place to be.
For the full article by the Texas A&M Real Estate Center go to :
http://recenter.tamu.edu/pdf/1841.pdf
Rents are up in Austin
If you're a landlord in Austin, you are sitting pretty right now. Rent rates are up $100+ over two years ago, and the occupancy rate is up to 96.6% from 94.4%.
This change is due in part to the tightening of the lending industry, which has hurt first time home buyers the most. The job growth in our city has also boosted the rental market.
One article in the Austin American Statesman predicts that the rents will rise 5-6% this year. So, if you're an investor looking for a property to buy, this is a great time. Apartment Rents on the Rise
spreading love in the rain, Liz
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