You're reading...
Uncategorized

Report: Austin among best performing U.S. metros


The Austin Business Journal reported yesterday that, “Austin and San Antonio will be the first two U.S. cities to recover from the recession, according to a new national forecast from IHS Global Insight.”  (More:  http://austin.bizjournals.com/austin/stories/2009/09/14/daily18.html?ed=2009-09-15&ana=e_du_pub)

I constantly monitor and measure market activity in the Austin area, and home price trends over the past 4 1/2 years shows that we gave up a little ground last winter, but have generally remained strong:

https://billmorrisrealtor.files.wordpress.com/2009/09/market-price-movement-jan-2005-to-present3.pdf

Of course, volume has been down, but the relationship of supply and demand have continued to push prices upward on average.  That last point is important, because averages, by definition, hide extremes.  We always have neighborhoods and market segments in high demand, and others where homes languish on the market for months unless they are heavily discounted.

In a still-competitive market like ours, proper preparation of homes for listing and sale is extremely important.  As I have been telling my clients all year, “the good ones” don’t last long.  Even as we move into a traditionally slower fall and winter season, I expect market activity to continue. 

An obvious wild card is, what happens when the first-time homebuyer tax credit ends on November 30?  Those buyers have represented a huge portion of my business this spring and summer, but I still see move-up clients who believe their time has come. 

Most have spent too long watching for a “market bottom,” which I believe happened in Austin in January-February 2009.  Austin’s expected recovery from the recession means the upward price pressure will likely continue.  Buyers who are still on the fence should make their moves soon.

Advertisements

About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

Discussion

Trackbacks/Pingbacks

  1. Pingback: Market Forecasts « Bill Morris' Austin Real Estate Blog - May 1, 2010

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: