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Challenges for apartment owners next year


Earlier today I posted an update on www.AustinMarketInfo.com about the interaction between home prices and availability and the rental market:

“The increasing affordability of homes will likely entice some renters to buy homes in the coming months ….”  More:  http://austin.bizjournals.com/austin/stories/2009/11/09/daily1.html

As I have commented previously, home values in the Austin area have generally not taken much of a hit during the downturn that has affected other parts of the country very dramatically.  (See www.AustinMarketDashboard.com.)  Nonetheless, housing affordability here is attractive relative to other cities (Housing Affordability Index of 1.56 in Austin vs. 1.33 U.S. average).

Austin remains a target for in-migration from other states.  Our great location and climate, the Austin lifestyle, one of the healthiest local economies in the United States, and continuing employment growth are attracting new residents, many of whom will buy homes.  Couple those natural growth factors with government incentives for homebuyers, and it will put pressure on apartment investor-owners over the next 12 to 18 months.

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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.

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