Important News Update about the Real Estate Market in Austin, Texas

With all the bad press that the real estate industry has been receiving about home foreclosures, you'll feel more secure in knowing that a recent report shows that real estate values in the Austin area are still considered to be amongst the most undervalued homes in the nation. These are some of the highlights from the report of why the real estate market in Austin is a sound investment:

Number "ONE" best place to invest! (According to Smart Money Magazine: Categories used were jobs, economy, price, building permits, vacancies and population growth.
Third fastest growing city in the nation over the next 25 years! (Brookings Institute, January '05)
Value, Value, Value! (Investors are moving into Austin because experts see great value in home prices and predict increasing appreciation!)
Rated 3rd out of 150 top metro areas for best places for business and careers by Forbes Magazine, May 2005! (Austin achieved the #3 spot in America by having the following: High Number of advanced degrees, low cost of doing business, low cost of living, low crime rate, abundance of culture, leisure, and educational attainment, income growth, job growth and net migration.)
Ranked among the top four most loved cities - by Travel & Leisure Magazine!
Ranked #1 in the USA for best cities for relocating families in large metro area!
Ranked # 15 in best Retail Market in the US!
Ranked #4 in the top 20 next boomtowns in America!
Demographics: The age distribution of the local Austin population is heavily tilted toward the 20 to 34--age category.
Austin Economy: The local economy is now more closely tied to national demand because of the rapid expansion of the local computer and high tech industry. Texas ranks second nationally in terms of overall jobs. The states high-tech firms employ approximately 435,400, and Austin’s diversification and large state and federal government sectors, including the University of Texas provide economic stability. The current economic situation is improving with strong job growth: A May 2006 report in Business Magazine ranked Austin No. 4 nationally for projected job growth among metro areas with at least 1 million residents. Local economist’s project over 20,000 new jobs per year for the next five years will occur in the Austin area.
Austin area home prices are below the national average: Prices were flat for several years as immigration fell, but the average home price has risen 11.5% in the past 12 months, and the medium sales price has increased from $166,800 in January of 2006 to $182,000 in June of 2006, suggesting a real estate recovery and the beginning of a growth market cycle.
Given all of these reasons and the current low mortgage interest rates, why wouldn't you want to purchase your own piece of Austin Real Estate?

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