Austin Real Estate

by the Austin, TX Realtors The Carvajal Group

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Austin Home Prices to Recover

November 15th, 2011 · No Comments

In the past year, Austin home prices fell by 2.3 percent but are expected to recover by the summer of 2012. Although the rise will only be by 0.3 percent, that number is expected to double between the second quarter of 2012 and the second quarter or 2013.

Austin home buyers have been very cautious and aware of the housing market around them which has kept the Austin housing market out of the housing market bubble that many got sucked into. Over the past ten years, the Austin housing market has seen a ratio of median price to median family income staying at a steady 2.6.

There are currently about 870 foreclosed properties here in the Austin area, but compare that to the 5,298 listings in Austin and that number doesn’t seem to be quite as large. These Austin homes are expected to have the price listing drop by the second quarter or 2012 but they are expected to return to a stable number by 2013.

For more information on buying properties in Austin, contact us today at (512) 419-7770.

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Austin Real Estate Market on the Rise

October 31st, 2011 · No Comments

With October comes cooler weather and many tourists to Austin, and an increasing real estate market. For anyone who is interested in buying, renting, or selling a home in Austin now is the time to do so.

Last month the Austin real estate market saw an 18% increase in the number of homes sold in the Austin area. Final selling prices were also up 2% which is very good news for those selling their homes. Buyers will be pleased to know that the interest rates are remaining at a low average of 3.94% for a conventional loan.

Although homes in the last year have been on the market for a slightly longer time frame they have seen an increase of 6.16% selling rate. In mid-October alone, 650 homes had been sold in the Austin area, which is a definite increase from this time last year.

Now is the time to buy or sell in the Austin area, because with the interest rates so low and the Austin real estate market being on top there is no reason to event bother renting.

For more information on buying properties in Austin, contact us today at (512) 419-7770.

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Austin Ranked #6 on Working Towards Home Ownership

September 7th, 2011 · No Comments

In the current economy, people are aware that owning a home is more of a dream than a reality. The low economy and real estate market have led to a declining real estate market, except for in Austin. Austin has been ranked sixth in the top 10 cities with a good real estate market with potential for home ownership.

There are several factors that affect whether home ownership is still worthy in areas like Austin, and they have a lot to do with the real estate and job market. The size of the job market and job availability in relation to the population size plays a big role, with Austin having 90 job postings per 1,000 people. Other factors include the current unemployment rate, median home price, time on the market, as well as number of homes on the market. Austin has an unemployment rate of 7.6% which is the fourth lowest percent on the list of top ten cities. As far as the Austin real estate market goes, Austin has a median home price of $244,900.

Other cities on the top ten list include Washington, Baltimore, Cleveland, Hartford, Denver, Boston, Columbus, Phoenix, and Richmond. With the real estate market looking good in Austin and being ranked sixth, it looks as if now is one of the best times to become a homeowner in Austin.

For more information on buying properties in Austin, contact us today at (512) 419-7770

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Austin Apartment Market is on the Rise

September 1st, 2011 · No Comments

According to the latest research by Axiometrics, there is a strong upward momentum on the apartment market- especially in Austin. In fact, Austin’s apartment market is the best in Texas right now after reporting a 10% annual rental growth. Two years ago, Austin and Dallas were practically the same market, but now Austin has a strong lead. This strong growth has made Austin the highest rent per unit market in Texas, reporting an average rent of $911 per unit which is $66 more than that of Dallas. Austin’s occupancy rate, currently at 95.4%, has also shown an upward momentum and is the best rate it has been at in over 10 years. With these upward trends, the 2012 market year for Austin has a very promising outlook.

With all the activities and events Austin has to offer, it is no surprise that the Austin apartment market is increasing. With students graduating from University of Texas and already experiencing the Austin atmosphere, most are starting their careers here and are contributing to this momentum in the Austin market. As long as people continue to visit Austin and all it has to offer, there will be a constant upward momentum in the Austin apartment and real estate market.

For more information on renting properties in Austin, contact us today at (512) 419-7770

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Austin Area Home Sales Are Up

August 24th, 2011 · No Comments

Local experts and real estate agents say the housing market in Austin remains in good shape, after July sales of Austin area homes were 32 percent higher than July 2010. The Austin real estate market also had an increase in home sales over the past year, selling 474 more houses than last year.

Real estate experts are contributing this increase in home sales in Austin to record low mortgage rates and affordability, stable values, and good job creation in the Austin area. Austin is experiencing a nice, continuous growth of value and population which is in turn making the Austin real estate market affordable for most people.

It is a very good time to buy property in Austin right now because the home you find on the market very well could be gone tomorrow.

For more information on buying properties in Austin, contact us today at (512) 419-7770

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