"Some much needed breathing room…"

The Austin Board of Realtors released their (our) numbers for August 2014 recently and, depending on who you are, we saw some light at the end of the tunnel.  The actual number of homes sold declined for the second consecutive month in Austin.  In other words, more and more buyers are saying “No thanks!” to what they see as ridiculous home values.  
 
At the same time, housing inventory is continuing to increase.  That just means that more homes are becoming available, which gives buyers more options to choose from.  My observation is that investors are starting to leaving the market.  After all, the philosophy is “Buy low-sell high,” right?  Additionally, I see lots of sellers wanting to cash out while property values are so high and demand is too!
 
Austin’s August numbers (courtesy of ABoR.com)


Check out this link for Austin Culture Map’s “Top Ten Areas to Buy Right Now in Austin”.  (Two included are Cherry Creek and University Hills)
 
My first-time-buyer client, Josh, in front of his new eastside place on closing day last Monday!
 
Bill Evans, President of the Austin Board of Realtors, says “A majority of Austin-area homes are now priced out of an affordable range for first-time and first-time move up homebuyers, where a significant portion of home sales volume occurs.” and “An increase in new and active listings is giving the market some much needed breathing room, but Austin’s housing inventory is still very low and has few affordable options.”
 
Any way you cut it, it’s an excited time to be in real estate!  I have loved searching out and negotiating good deals for my buyer clients (they’re out there, people!) as well as taking listings and trying to get my clients premium price for their property.  

Stay tuned to next weeks video-blog, where I answer the question, “It seems like such a seller’s market right now. Should I wait for things to slow down before I try to buy?”  

 
 
Barrett Raven
barrettraven@gmail.com
C:  512-970-2648
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