2009 is going to be GREAT for Real Estate! Interest rates have hit an all time low. That could be savings of over $100/month. The amount of homes available for sale has increased to over 12,000. But that's only an increase of 4.83% compared to last year this same time which is not that bad given our current economy and housing market. However, homes currently under contract are down by 36%+, recent sales are down 38%+ and the average sold price has decreased by %13+ to $223,971.
What does this mean? Home owners have decided to wait til next year to put their homes on the market, they have decided to refinance or just stay put. This is good because those homes that are on the market now will have a better chance of selling sooner due to less competition. This also means home sales could start to stabilize which will allow for an increase in home prices in months to come. Though changes in lending requirements have made it harder for buyers to qualify there are still many good programs available including a 103% loan program and interest rates are still hard to pass up.
For more information about the Austin real estate market or for a list of available properties, please call 512-794-9914 or 512-345-1919 or visit our website at www.premiereteam.com.
Approximate Location Boundaries: Travis & Williamson Counties
Location Characteristics: More and more planned condominiums, some with store fronts, are now being developed mainly in central Austin as the demand increases for downtown living. New home builders (now building green), on the other hand, are focusing on the outlining areas where growth continues, especially around the new expressways and toll roads. Travel time has been cut by almost half, with these new additions. This should allow for continued growth in residential areas, but most especially commerical real estate areas for years to come.
Austin has several large shopping mall complexes and a new outlet mall; plus, name brand high end stores are coming into town. At this time, there's no indication of growth slowing down in the near future. In fact, in the central Austin area, older homes are being torn down and new custom homes and high rises are being built in their places.
For more information about the Austin real estate market or for a list of available properties, please call 512-794-9914 or 512-345-1919 or visit our website at www.premiereteam.com.
About Mike Cusimano:
I'm a Broker Associate & Trainer with Keller Williams Realty, Austin's # 1 Real Estate Company. I have been ranked as one of the TOP REALTORS in Austin since 1995. My team members have been hand selected and together we make buying or selling homes a smooth transaction for all of our clients. We have helped over 2300 families buy or sell homes and we continue to grow; mostly by referral. We want to be your real estate agent. A 3 to 5 minute phone call is all it will take and we'll even pay for any long distance charges. To speak to one of our agents now or to obtain a FREE list of available homes that meet your criteria via email, call 512-794-9914 or 512-345-1919. For information about selling your home or about our Move up, Flexible Commission or Guaranteed Sale Programs, call 512-795-9918 or visit our website at www.premiereteam.com.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
