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Austins Real Estate Market First Quarter In Review
Pictures speak loader than words. As an Active Licensed Salesperson and Realtor, I live on a daily basis the effects of Austin's super hot real estate market. Small inventory, overpriced properties, multiple offers, rushing to go see a property that may fit my clients' needs and wants; and "hand-holding" to keep them motivated and engaged so they can ride this tide and accomplish their goal of finding their first, second or third home. Some buyers give up or take a break from house hunting though, who can blame them? Looking at listings from dawn to dusk, putting an offer to then find out that the seller picked a lower cash offer, can be exhausting. Most buyers ride this tide because that is the only choice they have or they would be renters if they don't purchase a home before the month-to-month increase in property value and mortgage interest puts them out of the market.
In Austin, we have seen a steady 4% increase in property values since the beginning of 2018 and we see o signs of this coming to an end. Among 125 cities in the US, Austin was named the best place to live for the second year in a row by US World and News Report this April. Land shortage and the daily increased need for housing - high demand, low inventory - are the 2 main reasons Austin's real estate market goes up month after month.
Buyers, keep it up. Stay focused and determined and you will accomplish what it seems an impossible and daunting task. Homeownership is worth every effort, I promise!
Born and raised in Argentina, Marcela is calling Austin "home" since 2004. She is versatile and multifaceted - being fully bilingual (English-Spanish) and possessing extensive experience with national....