Blog
The Numbers Say Buy Now!
A careful review of the absorption rate for the entire MLS, Austin only, and Northeast Austin show a very similar trend. That is, if you have been thinking of buying real estate in Austin now may be your best opportunity in years. As the chart below will demonstrate, in all three of the sampled areas inventory is extremely high. Northeast Austin currently has an 11.44 months’ of supply of homes. Keep in mind that a 6 month supply of homes is considered a balanced market.
What also interests me is the trend over the past year. Again, all three areas sampled show that the recent tax incentives for first-time buyers drove inventory down earlier in 2010 and then, since the expiration, caused inventory to increase. The most logical explanation is that demand for homes was brought forward due to buyers taking advantage of the huge tax incentives. What it all means now is if you want to buy real estate in North Austin, or anywhere in Austin for that matter, your timing couldn’t be better. Start today by searching the 18,714 homes available.
REMAX Capital City | 13018 Research Blvd. | Austin TX 78750
Direct 512.918.1562 | Fax 512.331.7480
http://www.LivingNorthAustin.com
jim@livingnorthaustin.com
White stone 1 story on .38 acres backing to Greenbelt! (#655099)
 |
White stone 1 story on .38 acres backing to Greenbelt! $144,900 3 beds, 2 baths Jim Morelli |
|
Beautiful 1 story home that backs to a greenbelt. With .38 acres and only a neighbor on one side, this is a very private home with beautiful views. The cul de sac lot offers even more privacy! More Information  Virtual TourJim Morelli |
Clean David Weekley Built on Oversized Lot! (#650177)
 |
Clean David Weekley Built on Oversized Lot! $159,900 3 beds, 2 baths Jim Morelli |
|
David Weekley built on nice secluded cul-de-sac lot! Close to Samsung, Dell, transportation and major shopping. More Information Virtual TourJim Morelli |
Handyman Special in Northeast Austin
I recently came across this bank owned foreclosure and handyman special in the Copperfield subdivision at 11929 Tobler Austin TX 78753. The property needs work but is priced well below market and the guess here is that it could be had for less than the asking price. The current tax appraisal on it is $101,583. If you are interested in viewing it call or hot line today at 512.744.4155.
Written by Jim MorelliREMAX Capital City | 13018 Research Blvd. | Austin TX 78750
Direct 512.918.1562 | Fax 512.331.7480
http://www.LivingNorthAustin.com
jim@livingnorthaustin.com
The Numbers Say Now is the Time to Buy!
Did you know that there are 13,497 homes on the market in Austin Texas? Compared to the 11,490 that were on the market last year at this time. That represents an increase of 17%! That coupled with the 20% decrease in pending sales and 26% decrease in sales for July 2010 it make s for a great time to buy. With market conditions of high inventory, reduced demand and historically low interest rates if you have any thoughts of buying a home in Austin the time is right.
To schedule a private tour of new homes, resale homes and foreclosure call Michaela today at 512.744.4155 or email at Michaela@LivingNorthAustin.com
Written by Jim MorelliREMAX Capital City | 13018 Research Blvd. | Austin TX 78750
Direct 512.918.1562 | Fax 512.331.7480
http://www.LivingNorthAustin.com
jim@livingnorthaustin.com
