Kelley Brack…, Both Buyer and Seller in San Diego, CA

how is the economic health of Austin?

Asked by Kelley Bracken, San Diego, CA Sun Jun 3, 2012

As a R.E. investor, how is the economy of Austin doing?

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I would give it an A+ grade. Buy smart (plan, research, prepare) and you will do well.
1 vote Thank Flag Link Sun Jun 3, 2012
My husband, a financial advisor here in Austin, will tell you that Austin is self-contained economically. It has three sources of industry which is Texas Government, the University and high tech. What he has noticed over the past few years is that finance houses are moving here also. So, Austin is rather well-diversified econimically. With multitudes of families a day moving to Austin, most financially well-off, there's no doubt that Austin is one of those cities that can weather a financial storm.

As a Realtor, I can tell you that it is non-stop here. Properties are flying off the market in every price range (even in the million dollar range). As an investor, you'll be pleased to know the lease market is also very hot. All those people moving here don't necessarily want to purchase right off the bat, so they rent.

If you'd lke to visit more, please feel free to contact me and I'd be happy to elaborate. Best of luck to you.

Angele Moyseos, Broker
Vox Real Estate LLC
1 vote Thank Flag Link Sun Jun 3, 2012
Unemployment is at 6% and dropping. Last year we welcomed 42,000 new residents. This year (2012) is predicted to top 48,000. Real Estate is up nearly every sector of the Austin area and month by month averages show 5-6% increases in sales over this time last year. My office alone outsold the market by 33% last month; an increase of 61% growth over this time last year. Currently we are 95% leased out with inventory in the re-sale market running as low as 5.7 months; making some parts of Austin a Seller's Market!

Forbes Magazine picked Austin recently as the fastest city in America to recover economically over other metropolitan areas.

Samsung is investing $1,000,000,000 in new technology to revamp their plant in Austin. Apple is expanding and bringing more jobs here, while downsizing part of their operation in Northern, CA (this alone should be a substantial indicator of things to come when the largest corporation in America begins moving more jobs away from California and toward Austin, TX!)

If you would like more stats shoot me an email:

Joe Casey
Selling Austin
Keller Williams Northwest Austin
(512) 800-1316
0 votes Thank Flag Link Sun Jun 3, 2012
Lowest unemployment. 151 people moving here a day. I own 4 properties, and I can tell you it's a great time to be a landlord! And home prices haven't, YET, started going up.

Make sure you have great marketing for your rentals, and the rest is GOLDEN.
0 votes Thank Flag Link Sun Jun 3, 2012
Excellent. Rents up. Prices down. 52%+ occupancy rate. Under 6% unemployment...
0 votes Thank Flag Link Sun Jun 3, 2012
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