Yes, it's the economy. What will it do? And, even if the national economy stays down, will Austin's? Latest forecasts have 50,000 people moving to Austin for this year, and each of the four years following. If those forecasts hold true, then overall pressure on places to living will push prices up and the property will show appreciation that is commensurate. If, (and it's a big if) there are no changes to that forecast, and if, there are no issues in the immediate neighborhood during that time. Anyone who tells you that it is GOING to go in a direction, is not speaking a fact. What they are doing is offering an opinion. If they were speaking a fact (meaning they can forecast the future reliably), then they are lying. Why? Because they wouldn't be talking to you here. They would be sitting in some idyllic spot in the world just living off the millions of dollars they made daily by predicting the future. The best anyone can do honestly in this type of situation, is look at history, factor in forecasts and then say that conditions are ripe for a move up, down or to stay steady and tell you why they feel that way. Bottom line, you have to make your moves with information and your own assessment.
CRS, GRI, ABR, CLHMS, e-Pro