Anyone have a fix on Austin market trends? Buy now or wait a year?

Asked by Sterin, 78745 Sun Aug 14, 2011

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Teresa Stamper’s answer
Teresa Stamp…, Agent, Austin, TX
Tue Feb 25, 2014
Austin is named one of the fastest growing cities in 2013 and 2014 is off to a good start.

I just posted a blog about the Austin market http://teresastamper.com/hot-austin-housing-market/
0 votes
x, , Austin, TX
Sun Aug 14, 2011
Hi Sterin, from my website you can view the market trends by zip code. Just go the the market tab at the top. http://www.AustinHomesWithSara.com.
1 vote
JCA Design G…, Other Pro, Round Rock, TX
Sun Feb 23, 2014
Texas in general is expected to surpass California's population within the next 10 years. The latest report that was just released states that 110 people (net) are moving to Austin every day. Housing prices are relatively low here but the longer you wait, the higher those prices are going to be. The best suggestion is to buy as quickly as you can so that you get the highest return on your investment down the road. Always better to be in on the ground floor.
0 votes
Christi Bayl…, Agent, Pflugerville, TX
Fri Feb 21, 2014
With property values increasing almost daily and interest rates on the slow rise up - I would say that you would get more bang for your buck buying now rather than waiting. A year from now - you will be able to buy less house for the same amount as what you can buy now.

good luck!
0 votes
Dan Burstain, Agent, Austin, TX
Thu Aug 1, 2013
Buy now. It is the interest rates that will kill you if the appreciation doesn't. If you talk to anyone who knows about the Austin market, the jobs trends for the next 2-5 years, and the interest rate forecast for the next 24 months, you will get a consensus to buy now rather than in 12 months. Call me anytime to discuss.

Dan Burstain, Realtor
JB Goodwin Realtors
cell: 512-588-3260
Dan@JBGoodwin.com
0 votes
Gina Marques, Agent, Austin, TX
Wed Jul 17, 2013
Hi Sterin,
I like to reflect on the same question by buyers a year ago. Those that bought, now have approximately 8-9% equity. Austin has been a good market in the past year and there is no good indication, that I am aware of as a professional Realtor, that a drastic change will happen soon. As for interest rates, I do believe that they will, and are, going up. So, I say yes, it is a good time.
0 votes
Bill Austin, Agent, Austin, TX
Mon Aug 15, 2011
Sterin,
To important of a question with too litle information given by you to formulate a comprehensive answer.
I"d like very much to help you analyze what you want to achieve, so a good decission can be made. You can be swept up by the folks that shout "buy buy buy" or you can truely analyze your situation and make a good decission. There is no one answer that fits all of Austin. Real estate is local. Local means neighborhood by neighborhood and then street by street within the neighborhood.

If you'd like to discuss and analyze your situation with a professional Realtor contact me directly.
512-709-6343 ~ baustin.realtor@gmail.com ~ Call ~ Text ~ Email ~ I'll respond quickly.

Thanks,
Bill
0 votes
Voices Member, , Austin, TX
Sun Aug 14, 2011
Now is a great time to buy if you can because prices aren't really going to get any lower here in the Austin market and the mortgage rate is awesome right now. If you are looking for an investment property rents are high and the rental market is moving fast so the prospects for cash flow are good with rental properties for the foreseeable future. The area is growing fast and there are not enough units so it's a landlord's dream market here and will be for some time.

Call Merritt at 512-626-8422 if you would like me to show you some property.
0 votes
Ronda Allen, Agent, Plano, TX
Sun Aug 14, 2011
You're talking about one of the most popular cities in Texas and a growth market in the U.S.A., with new commercial and residential offerings. Austin has been hot for as long as I can remember, and their market stayed hot even when the rest of us were declining. We're lucky in Texas not to have taken as large a hit as some parts of the country, but we have experienced it, too. Wait a year in Austin, and you risk that interest rates may be higher and offerings may be more expensive. If you can get it now, get in and start enjoying your new home in this vibrant city.
Have a blessed day!
Ronda
0 votes
Guy Gimenez, Agent, Austin, TX
Sun Aug 14, 2011
Anytime is a good time to buy as long as you're buying on logic and not emotion....meaning of course that you buy right. With that said, even though many in our industry will claim interest rates will soon rise, I just don't see it. That claim has been made since 2007 and the fluctuations have been minimal. Buy now or buy next year, but whatever you do make sure you buy with purpose and an end game in mind.
Web Reference:  http://www.phgbrokers.com
0 votes
Steven Nusin…, Agent, Austin, TX
Sun Aug 14, 2011
There are a lot of neighborhoods in 78745 that are my favorite for investment. This area was red hot a few years back with its proximity to downtown, but the prices have softened a bit. I have done serveral deals and owned in 78745. The nice thing about this area is if you move up, the rental market commands a very nice rent in a very short period of time.

Please feel free to contact me anytime, and I can provide you analysis on some of my favorite neighborhoods in the zip code.

Steve Nusinow
(512)922-7588
0 votes
Vanessa Nunez, Agent, Austin, TX
Sun Aug 14, 2011
With historically low interest rates and they have dropped as low as 3.5% for FHA and as low 3.99% for conventional it would be in your best interest to buy if you find the right property at the right price. Other than that there really is not much to consider. Speculation is just that speculation. Hope this helps in your decision process. Contact me if you want a no pressure situation to consult you on some properties.

Warmest Regards,

Vanessa Nunez
0 votes
Dan, Home Buyer, Alabama
Sun Aug 14, 2011
Ron,

Overpaying for property is really bad for the buyer's family. A buyer should not overpay because his family is involved. A buyer should lowball because his family is involved. Paying 20% less than comps means you might be underwater in 12 months. Not good for the family,Ron.

Btw, ,many nice areas are quickly becoming crime zones.

Go rent within a nice crime free area so you can get out if required and not have to worry about bringing money to the closing.
0 votes
Ron Thomas, Agent, Fresno, CA
Sun Aug 14, 2011
There has been a lot of speculation and negativity about when the BOTTOM will occur.
The BOTTOM will not be heralded by a Town Crier, walking around, shouting “The Bottom has been reached!”
The BOTTOM will not be accompanied by an article in the Wall Street Journal or New York Times, announcing “The Bottom happened yesterday at 4:30”
The BOTTOM will be completely different for you, than it will be for everyone else.
The reason for this is that you will not be buying the MARKET; you will be buying one house!
There is a fixation among some Buyers, that they be able to tell everyone that they got the absolute BEST price in the world! (I’m sure you know people like this.) This obsessiveness will surely not be rewarded, because there will always be someone who got a better deal.

There is a very old saying that; “To have a good sale, the Buyer had to have been willing to pay more, and the Seller had to have been willing to take less.”

The truth is, when you buy that house, any house, you are establishing the BOTTOM of the MARKET for THAT house. The clock starts on that investment. And considering that Real Estate is a long-term investment; if you can look back in five years and see that you made a good investment….

This whole controversy must take into consideration what you are buying:
If the object-of-your-affection is a Home for your family, then your priorities are skewed if you are obsessing on the Bottom-of-the-market: You are first, last and always buying a HOME for your family; complete with Security, a good neighborhood, good schools, 3 bedrooms, 1647 square feet, a wooded backyard, a 2 car garage, etc.
Sure you want to make a good buy, but that price should not be on the top of your list: Would you be happier in a crummy, crime-ridden neighborhood, with a house that is falling down, BUT, you made a great deal! Or, would your rather have the best house on the block, where you don’t have to lock your doors at night, and your schools are the best in the State, for a good price? You choose.
0 votes
Don Groff, Agent, Austin, TX
Sun Aug 14, 2011
Unfortunately nobody can say that for sure. The think to keep in mind is Austin is a great place and a lot of people are moving here and that trend is not going to stop. More people will mean more demand but that will also cause builders to keep building.

There are a lot of factors to consider but my advice to you would be to buy when you are comfortable and when it makes sense for you. If you plan to own your home for 5 years or more you will be more likely to not be affected by any downward trends that may continue for the next few years. The thing about Austin is that people want to be here. We also never had the crazy property appreciation over the past 7-10 years like the west coast has had. Because of that the downside is limited in my opinion.

Buy when you are ready and buy with the intention of holding onto the property for at least 5-7 years and your downside is very limited.

Best of luck to you.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
listings@dongroff.com
0 votes
Dan, Home Buyer, Alabama
Sun Aug 14, 2011
Against professional code of ethics for any Realtor to predict the future. "

You cannot predict the future so do not worry.
0 votes
Dan, Home Buyer, Alabama
Sun Aug 14, 2011
Japan has had a low interest rate / declining homes values for 20 years. However, Japan is a leading manufacturing economy and a leading global credit. The USA should fare much much much worse being the premier debtor nation that produces nothing of sustainable value.
0 votes
Dallas Texas, Agent, Dallas, TN
Sun Aug 14, 2011
Against professional code of ethics for any Realtor to predict the future.

Your buyers agent should be providing library of data and resourse guides to assist in making any purchasing decision(s).

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Sterin, Home Buyer, 78745
Sun Aug 14, 2011
Well we've certainly encountered the multiple offer situation several times, with many properties going way over market value. I'm just wondering if it's all about to come crashing down or not... but then again it seems like I've been waiting for it to crash for years.
0 votes
Dan Seeds, Agent, Cedar Park, TX
Sun Aug 14, 2011
Probably should wait so you can spend more money and get a higher interest rate! I have live in Austin just about all my life and in the RE business for over 30 years Great time to buy! Good luck! Dan
0 votes
Dan, Home Buyer, Alabama
Sun Aug 14, 2011
Realtors love to point out just one of the many variables involved in making a decision to buy....low interst rates.

Here are a few other variables:

Crashing sales prices(coming to a town near you)

Increasing property taxes

Rapid price inflation at the grocery store

Massive and unprecedented rates of unemployment
0 votes
Ryan Reber, Agent, Austin, TX
Sun Aug 14, 2011
What Scott said without all the typos.

Don't just buy to buy. Rates are at all time low so if you find something you like go for it. If not then wait. Everything will eventually go up we just can't predict when.

Ryan Reber
Keller Williams
512.554.1103
Web Reference:  http://welcometoatx.com
0 votes
George Hughes, Agent, Austin, TX
Sun Aug 14, 2011
I am working with a buyer in zip 78704 and we have encountered multiple offers on several properties. It appears the market is moving south toward 78745. If this is the case, you should buy now. The Downtown inventory is shrinking with no new projects breaking ground. Good Luck.
0 votes
Scott Godzyk, Agent, Manchester, NH
Sun Aug 14, 2011
The key is if you can find a property that suits your needs and it is priced under market value, it would be a good buy, interest rates are at all time lows now, tehy will be going up especially once teh banks start lianing again. One of the reasons they are still low, is the lack of mortgages being given out by banks
Web Reference:  http://www.ScottSellsNH.com
0 votes
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