Welcome to Austin

Welcome to Austin. One of my pet peeves is that every day I read more reports of how very unstable and bad the real estate market is. As a result, I have clients and customers call daily to ask for information on properties that would be a bargain. Now I too really like bargains, but when they are looking for properties that are priced 20% or better below market value, I have to refer them to another city. I tell them even at full price "anything they buy in the Austin market will probably be a bargin and increase the same 7% per year that is has every year since  I've been in real estate." Austin is almost bullet proof where real estate is concerned. Other areas and states report low sells, extensive inventory, decreasing prices. While all the indications I read from stats reported by the Austin area title companies and statisticians, the forecast is an increase in property values. We do have a high inventory but if the property is desirable, duplicate offers are the norm not the exception. The way I read the stats, using figures from 2004 as the highest ever base for pricing and sales, 2005 was better, 2006 was better, 2007 was better and the first 6 months in 2008 are better. Schools are good, crime rates are low and weather is wonderful (a little humid this year but not as bad as Houston). We have seven lakes within an hour of downtown so lots of sports. We have a major university and several lesser ones.We have headquarters for state government (big bureaucracy). We have all the major high tech and spin-off support. We have many privately owned businesses and great restaurants. I would estimate about 49% of the employers are small business. We have 6th Street entertainment and 20,000 condo units going in downtown. Our downtown is becoming a real mecca for all ages. We are known as the music and entertainment capitol because we have so much to offer. People move her from all over the world so we are an international community. So don't listen to all the gloom and doom and come live the great life in Austin TX.