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Virtually all economic indicators call for optimism for Austin’s economy and housing sector. However, uncertainty in the U.S. economy generally, and in the real estate business in many key metros, call for caution. Personally, I remain bullish but I am eager to see actual results in May and June 2011 before saying confidently that we have entered a sustainable new growth cycle. Continue reading
Home sellers and buyers shouldn’t have to wonder whether their agent is truly focused on the largest financial transaction most will ever be involved in. And they should be able to assume that their agent writes, negotiates, and closes enough transactions to be, not just proficient, but expert in the profession. Continue reading
Sellers who price right early consistently sell faster and for more money than those who have to reduce their prices one or more times to attract a buyer. Continue reading
Market conditions vary widely among different segments of the downtown condo market, but overall it is over-inventoried and likely to stay that way. Continue reading
By this comparison, Austin’s gain in market value looks very tame compared with most of the other cities. It’s still nothing to sniff at, though: 170% price appreciation in 20 years represents an average of 8.5% annual growth. Continue reading
From articles earlier this week saying that home prices nationwide are falling faster than at any time in three years, to a new article today saying the home prices are rising in most cities, it looks like you really can “pick your facts” about real estate. Continue reading
When I see reports like those this week about how weak home prices are I feel the need to remind Austin/Central Texas consumers that we really are different. Renewed strength in other major metropolitan areas will obviously help us too, but so far the sky isn’t falling here. Continue reading
There are many ways to approach market analysis. Many real estate practicioners still do what their clients usually expect and base a pricing recommendation on recent “comps” in the neighborhood. That will certainly provide one indication of market value, but without a more thorough understanding of the market environment, I suggest that that approach can easily mislead, and result in a listing that is overpriced, or underpriced or, maybe, priced just right. Continue reading
Obviously, this post offers no advice to any individual homeowner, but even without discussing specific prices of specific homes, I hope this snapshot of one month’s sales will provide a point of reference in thinking about positioning the home you wish to sell. Continue reading
A new high ranking for Texas as a business destination, and new announcements from California companies coming here … Continue reading
Bill Morris on Austin Real Estate 