Is Second Quarter of 2013 the time to buy in Austin?

By
Real Estate Agent with Coldwell Banker United Realtors® ~ 512.750.6899

Is Second Quarter of 2013 the Time to buy in Austin?

 

Everyone is talking and speculating about home prices in Austin due to the increasing rise in interest rates. I attended an informative seminar sponsored by Independence Title on Friday June 21, 2013 entitled: “If not now, When? “ Mark Sprague, State Director of Information Capital for Independence Title was one of the speakers. I always make time to hear Mark…he is one of our top economic analysis’s and tends to err on the conservative side. He gathers facts and investigates the past history before making predictions of the market place in Austin, TX.

Independence Title seminar "If not now, When?

He presented us with some good Facts:

  • Austin resale home inventory is at 2.7 months.

 

  • Austin has 5,488 single family listings (25% less than a year ago).

 

  • New and resale home inventory levels are extremely light.

 

  • Values are appreciating in most Austin sub markets.

 

  • Austin home values remained positive during the recession and continue to gain value.

 

  • Record affordability - Mortgage rates are at the second lowest in the last 60+ years.

 

  • Only 1 out of 1,903 properties in Travis County are in Foreclosure.

 

  • Residential, rental and office entitlements are at the lowest levels in 6+ years.

 

  • Lending requirements are still tight, causing fewer opportunities.

 

  • Rentals are at 95% occupancy. There are less than 7,200 units left in a 5 county area

 

  • 60,000+ people are annually moving to Austin.

 

So what do all these facts mean? Mark states:

 

“Lower supply + higher demand = Value improvement”

 

In looking at past history and gathering the facts Mark illustrates Austin hit the bottom of the market 2 years ago. Currently Austin leads the country in creating jobs. Austin is experiencing growth like they did in the early 1980’s. His prediction is homes prices will continue to rise due to low inventory and strong demand for shelter as Austin continues to expand. Interest rates will continue to move upward therefore now is an excellent time to be buying in Austin Texas!

 

If you are reading this post and have a home to sell in NW Austin I would be happy to help you. The NW Austin real estate market is experiencing a paradigm shift and it is considered an excellent time to sell your home. Let me put my expertise to work for you. Call me at 512-346-1799.

 

Search for homes in NW Austin

 

“WE ARE ALWAYS HERE TO ASSIST YOU!”

 

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Topic:
Real Estate General Information
Location:
Texas Travis County Austin
Groups:
Realtors®
Texas Real Estate
All Thing's Texas
City and State
EXPRESS WITH PHOTOGRAPHS AT ACTIVERAIN
Tags:
austin tx
austin economy
canyon creek
78726
nw austin
independence title
mark sprague
homes for sale in nw austin

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Rainmaker
3,817,082
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Hi Sally & David: It is a good time to buy..prices are moving upward!!

Hi Barbara: You are right it is prime time to sell!!

Hi Larry and Sheila: It was a great title to Mark's presentation!

Hi Bobbie: 60,000+ people a year is a lot of people!!

Jun 25, 2013 09:57 PM #8
Rainmaker
3,817,082
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Hi Sharon,

Thank you!!

Jun 25, 2013 09:57 PM #9
Rainmaker
739,504
Ed & Tracy Oliva
West USA Realty - Arizona - Fountain Hills, AZ
The Oliva Team Arizona Agents

good Morning and a great post, yes your area is really coming back!!  keep up the good work and good luck with your sales,  E

Jun 25, 2013 10:01 PM #10
Rainmaker
796,443
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Good morning Dorie,

YES, it is the time, and let's get busy cause we are closing in on quarter #3!!!

Jun 25, 2013 10:13 PM #11
Rainmaker
1,376,417
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Dorie, you can't argue with the facts. Now is the time to buy in Austin.

Jun 25, 2013 10:49 PM #12
Rainmaker
2,020,715
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Hi Dorie - Attending an informative seminar on the current Economic Forecast is worth your time and only the BEST in the industry makes time for events like this. Those are some great numbers and Austin is like a country within a country - unique and an exciting place to be.

Congratulations to you Dorie for being a significant contributor to Austin's growth!

Jun 25, 2013 10:50 PM #13
Rainmaker
3,817,082
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Hi Ed and Tracy,

We really didn't experience the downward trend like some many parts of the country..we are a diversified city which helps us stay on an even keel!

Jun 25, 2013 10:54 PM #14
Rainmaker
3,817,082
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Hi Cindy: It is hard to believe Second Quarter of 2013 is ending!!

Hi Michael: That is so true!

Hi Patricia: Thank you!!

Jun 25, 2013 10:55 PM #15
Rainmaker
1,679,002
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Very good news for Austin - I loved coming to visit when I was there for KW MegaCamp last year - looking forward to coming back again in the fall. 

Jun 25, 2013 11:12 PM #16
Rainmaker
3,338,355
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Dorie - just as I was about to hit "suggest" I see this post already has a gold star - very well-deserved and very well-presented.   

Jun 25, 2013 11:15 PM #17
Rainmaker
915,615
Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

Good Morning Dorie, great information to share, we are lucky to be sharing the growth of our beautiful Austin Texas and local real estate agents are smiling from ear to ear.

Jun 25, 2013 11:46 PM #19
Rainmaker
694,665
Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Dorie,

The markets are hot all over. In the Austin area with over 5,000 listings on the market, surely there is a home at the right price for anyone who wants to buy a home in the Austin area.

Have fun showing all of them. Enjoy the day in Canyon Creek Texas.

Best, Clint McKie

Jun 25, 2013 11:54 PM #20
Rainmaker
2,304,424
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Dorie: All indicators should be telling potential buyers that NOW is the right time to buy a home in Austin TX.  Excellent real estate information for area consumers.

Jun 26, 2013 12:21 AM #21
Ambassador
1,613,719
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

It is a great time to buy a house-rates are low.

Jun 26, 2013 12:29 AM #22
Rainmaker
592,740
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

Wow, 2.7  months of inventory. That is definitely a seller's market. We have been at 5.1 months of inventory for about 4 months now. It looks like the market is going to the sellers, although many are still underwater.

Jun 26, 2013 01:11 AM #24
Ambassador
3,983,049
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Dorie, 60,000 people moving each year to Austin. Your market is going to be booming for quite some time.

Jun 26, 2013 01:43 AM #25
Rainmaker
648,697
Bill Reddington
Re/max Southern Realty - Destin, FL
Destin Florida Real Estate

Have seen similar statistics in lots of areas. Go get 'em in Austin.

Jun 26, 2013 03:35 AM #26
Rainer
405,633
Brad MacKenzie
Brad MacKenzie - Duxbury, MA
Turning Houses into Homes on the South Shore

Sounds like it's unanimous. Yes, it's time to buy in Austin.

Jun 26, 2013 03:58 AM #27
Rainmaker
774,028
Joanna Cohlan
Fresh Eyes For Your Home - Chappaqua, NY
Designing, Decorating & Staging Westchester Homes

Sounds like your speaker had such positive information to share about buying in Austin and Dorie Dillard is your go to Realtor.

Jun 26, 2013 04:40 AM #28
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Dorie.  Can you believe half the year has gone by?

Jun 26, 2013 08:22 PM #29
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Rainmaker
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Dorie Dillard CRS GRI ABR

Serving Buyers & Sellers in NW Austin Real Estate
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