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Market News and Trends

Recovery on the way …


It seems that I have been talking and blogging forever about the difference between the Austin/Central Texas experience during this recession and the way the recession has impacted other communities.  As I have written several times, most of the really horrible economic news that has dominated press reports over the past couple of years was focused in five states:  California, Nevada, Arizona, Florida, and Michigan.  Michigan’s woes really began a few years before, and were certainly compounded in a big way by the 2008/2009 downturn, but the other four states really took the big hit.

Two articles caught my attention today and highlighted that distinction:

Outlook for Austin brightening in 2010

Five cities where homes aren’t selling

Austin has been reported for a couple of months to be on the leading edge of this economic recovery, but it’s good to see the trend and optimism continuing. 

Perhaps the best news in those articles is the fact that no cities in California appear on this list of five “worst.”   Arizona, Nevada, Florida, and Michigan are still prominently featured, however.  I have talked with a client in northern California and another in the Los Angeles area since the 1st of the year, and there is no indication of dramatic improvement in their market areas yet, but they believe the worst of the roller coaster ride may be behind them now.

Employment remains the key area of risk — in the hardest hit markets and in Austin.  I have written recently about continuing job growth in Austin (albeit slow), so there is reason for optimism here.  Ultimately, however, high unemployment and continuing job losses elsewhere jeopardize the larger economy and will make the recovery longer and harder everywhere.  Jobs –> income –> confidence –> consumer spending –> economic growth.  That formula is still the only path to prosperity.

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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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