Are you still deliberating on where to buy your investment homes? Here are a few reasons why you should strongly consider Austin. The Texas and Austin real estate market continues to be way ahead of the rest of the nation. Austin’s local and state economic climate is very healthy. An Austin premier luxury home broker, Regent Property Group announced that residential home sales increased 18 percent in February 2013 when compared to February 2012. The median home price is $259,000 which is an increase of $20,000 over median home prices sold a year ago.
The luxury home market is also tightening. There are approximately 80 Austin luxury homes (valued over $1 million) on the market at present. Of these, the average list price is $1,655,629 and the median list price is $1,420,000. Texas has been getting rankings for the fastest growing cities in Forbes Magazine for a few years now. This year Austin was named the fastest growing city in the US after two consecutive years of being placed first. Houston was ranked second. Dallas was ranked third and San Antonio was ranked ninth. According to Forbes, Rick Perry’s recent economic development trip to California highlighted the Texas traits – low unemployment rates, healthy labor markets, a business-friendly regulatory environment, and no state income tax. Business Facilities magazine also recognized Texas’ powerful state economy by awarding the state with “2012 State of the Year.” According to the magazine, the Texas economy rivals top countries around the world. In addition, the state has a keen ability to consistently produce jobs. According to the US Department of Commerce, Texas exports in 2012 totaled $265 billion and it has been the top exporting state for 11 straight years. Regent Property Group founder Brian Talley said, “Texas’ economy is a driving factor in the health of the real estate market statewide and in Austin. Home buyers appreciate stable markets, built-in value, and optimism for future appreciation. All three of these factors can be found in Austin and in many parts of Texas.” The Austin economy will continue to see an increase in demand for housing along with the increase of pricing as demand increases and availability continues to decrease. The coming medical school will bring new jobs to the health and medical industry. New tech jobs will continue to increase as well. Considering that the real estate market tightened up in only a year’s time, now would be a good time to start investing in rental properties throughout Austin. Source: www.marketwire.com Contact Us Follow us on Facebook Tweet with Us Join our LinkedIn Group View our Videos Sign up for our Property Management Tips
