Anyone looking for real home appreciation in a market that defies the 'bubble burst' reverse trends we hear about in the coastal (big city) markets across the States should strongly consider Austin as a prime Real Estate investment.
We continue to see a solid upward trend in Austin. These are great times to sell as price appreciation is on its way up, but even better to get in on buying a home while there is time. Austin offers an exciting (undervalued) home price scenario (Austin homes were recently ranked about 5% undervalued according to USA Today). The reason investors and buyers from abroad are considering the Austin real estate market as investment and personal ownership is because Austin has been unaffected by the market 'bubble' (in fact it has been undervalued the last 4 years) and promises strong growth with its improving infrastructure and continued investment by high tech companies, the most recent example of which is Samsung who are currently building an enormous headquarters in North Austin.
While new home builders continue to produce at a healthy pace, the rising costs of materials have hurt their ability to compete with resale homes, so we are seeing a push toward buying resale homes as they offer more for less and don't have to worry about increased building costs. It's about time (our sellers are thinking!)
Wednesday, May 20, 2009
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