Austin is the capital of Texas and a beautiful city to live in. It is the 4th largest city in Texas, 16th largest city in United States, and continues to grow rapidly. Weather is relatively mild and the capital boasts of some great historical sites and hosts several cultural events. Austin is referred to as the ‘live music capital’ of America as it hosts a number of music festivals. Music artists from around the world participate in such music programs.

Real estate prices in Austin are increasing rapidly due to many developmental projects. Several highways and freeways are being constructed to cope up with increase in vehicular traffic due to new industries coming up. More and more people are looking towards Austin for employment and better living conditions. Many such new settlers prefer to buy their own accommodation. A number of people who have been staying in rented accommodation in Austin, may like to purchase their own homes. People from other cities also wish to buy a permanent home in Austin due to its good living conditions and cultural scenario. Real estate prices in Austin are escalating as demand is rising. Prospective homebuyers are advised to buy their home quickly before real estate prices shoot up the roof.

Demand for real estate prices is increasing with influx of new immigrants in this city. Local builders are developing many residential apartments and premises considering this need of home seekers. As yet, most developers have affordable housing options available to customers. A house in suburban Austin costs almost half the amount of the same type of house in the heart of the city or many other cities.

Read the rest of this entry »

When you read the real estate stats for sales in Austin this year, it just does not make sense. The Austin American Stateman produced an article that showed sales down from last year. This is alone is not strange if you take away the fact that jobs in Austin Texas Grew during the same time.

We see the subprime concerns opening up inventory, builders are developers are still going. Lago Vista Real Estae for example is going to see some real changes with all of the new communities coming in, and I mean large subdivisions relative to the size of the town.

I am not sure if Builders and Developers are ready for something I do not see or are they over eager. When we look at the growth plan for Austin over the next couple decades it seems that we neeed the developments, but how can we expect so many people. Well, Austin is a beatiful town. when I go to other cities I can see why people like it so much, it’s sometimes hard to remember that all places are not this pretty.

Read the rest of this entry »

Recent headlines suggest that home sales could be on the rise in some parts of the country, particularly in the South and Midwest. While analyst are being cautious not to sound too optimistic, the number of pending sales in December was up 6.3 percent according to the National Association of Realtors. This increase was largely credited to falling prices along with lower mortgage rates.

Austin home prices are actually on the rise, according to the most recent housing statistics from Yahoo. The median price for a home in Austin is currently $299,000, a 3.1 percent increase over January. While this may not be good news for bargain hunters, it was a positive sign that the housing market is still doing well in Central Texas.

Zillow shows that overall home values in the Austin area were down 3.6 percent at the end of last year, a sudden change after a steady climb in prices over the last three years. The stock market collapse last fall caused home values across the country to plunge in November and December of 2008. This was also the case in Austin, making the numbers in the local housing market look dire for the first time in years.

Read the rest of this entry »