Austin is among the top 50 U.S. cities where it is “Much Less Expensive to Buy Than rent”, coming in at #35. What does that mean? Well, when you look at the average home price vs. the average monthly cost of rent in Austin, the numbers show that it is significantly more affordable to buy in most areas of the city. With rental rates increasing and interest rates at historic lows, buying is financially the smarter choice. So, is buying right now the right choice for you? This is a sampling of Austin MLS areas:

Rent Vs. Buy MLS Area Comparisons

This “perfect storm” of home buying conditions aren’t going to last for long. Take advantage of low mortgage rates and low home prices. There’s never been a better time to buy than now.

If you have questions on the Austin housing market or want to get started on buying a home, call Chuck Stephens, our buying expert, at 512-947-8077 or drop him an email at cstephens@cbunited.com.  To see current inventory, visit our web site www.dmtx.com.

Night Skyline

Austin’s excellent quality of life, strong economy and high employment rates made it a top choice among American cities in several recent studies and best of lists for 2011.  Here’s a quick re-cap of some of the bigger accolades as compiled by the Austin Business Journal:

•In July, Forbes and the Praxis Strategy Group named Austin America’s No. 1 “boom town.”

•Earlier this month, Austin was ranked by the Milken Institute as the fourth best-performing city in the U.S.

•Austin was ranked this month as the top city for the highest job levels in a decade but Forbes magazine cited a 19 percent drop in high-tech jobs over the past decade when it ranked Austin No. 32 on a list of best cities for tech jobs.

•In September, Austin snagged fifth on a list of U.S. cities with the most healthy employment outlooks.

•The Brookings Institution named Austin among the best green job generators in its “Sizing the Clean Economy: A National and Regional Green Jobs Assessment” report.

•Ajilon Professional Staffing said Austin has the second best jobs market in the U.S. but Forbes ranked the Capital City No. 3 for best jobs market in its January report.

•Austin leads the nation for having the most favorable conditions for small businesses, an April report said.

•Businessweek listed Austin among the best places to live, Business Review USA chose Austin as one of the eight best places to live and work in the U.S., and RelocateAmerica named the Capital City as one of the 100 finalists in its 14th annual best places to live contest.

For a more expanded list, read the full article here.

A recent article in Fortune proclaimed “Forget stocks. Don’t bet on gold. After four years of plunging home price, the most attractive asset class in America is housing” .  With a historic drop in new construction and with housing prices down…now is the time to buy.  As the economy continues to grow and with rental rates still rising, buying and investing is up.  Because there is very little new construction happening..demand could start exceeding supply and prices will once again begin to rise.

Read Fortune’s article; “Real Estate: It’s Time to Buy Again” here

See Wells Fargo’s Texas Economic Outlook here

If you are ready to buy…whether first home, dream home or investments, start at www.DMTX.com where you can search all of Central Texas for your perfect home, ranch or waterfront property.

There are even events for those of us who would prefer to avoid the crowds downtown, but still want to see amazing performances. This week SXSW is featuring a stellar lineup at Auditorium Shores…kid friendly and completely free!

Thursday, March 17th,  Luke Rahtborne starts the evening off at 6:00pm, followed by Twin Shadow at 7:00 and ending with The Strokes at 8:00.

Friday, March 18th,  Suzanna Choffel kicks it off at 6, followed by Bowling for Soup then Blue October finishes it up at 8pm

Saturday, March 19th is tailor made for the whole family starting at 11am with The Groundwork Music Orchestra, Ozokidz and MarchFourth Marching Band.  The evening ends with Bright Eyes taking the stage at 7:30 (see the full schedule here)

With all the energy, amazing March weather and, let’s face it, the incredible people who live in Central Texas, it’s no wonder that after SXSW there  is a renewed interest in all things Austin, including making it a new home or even 2nd home.  You can find your Central Texas home away from home on the DMTX Realty Group website…whether it be land in Hill Country, a lakeside retreat or your Central Austin dream house.

Total dollar volume of single family properties sold: $4,180,259,992 – down 1% from 2009

Average price for single family homes: $194,000 – up 3% from 2009

Single family homes sold: 16,477 – down 6% from 2009

Average days on market: 76 – down 4% from 2009

Looking at the numbers, we saw the average price rise and the average days on market go down – both signs of improvement in the market.  However, the total volume went down in both number of dollars and number of homes.   These up and down stats point to a 2010 Austin real estate market going through a period of adjustment.  It will be interesting to see how 2011 turns out.

Here’s some recent good news in terms of the economy.  According to the Brookings Institution, Austin was one of only 15 major metropolitan areas to experience job growth in all 4 quarters of 2010. Forbes ranked Austin as the 10th most affordable city in the US. It notes our strong high tech job economy.

Staged kitchen in Travis Country home

This recent sale goes to prove two essential elements in real estate.  If a home stands out among the crowd through pricing and presentation, it will sell.  Not only will it sell, it will sell FAST.  This home in Travis Country sold because we priced it right – at market value – and the sellers did everything right as far as staging and preparing the home to get on the market.  Things like paint touch ups, fresh mulch in the flower beds and “de-cluttering” the home went a long way to make this home stand out from the other homes in the area.

Manicured Yard

Pricing was the second essential element to make this one stand out from the crowd.  We priced this fairly for the market – not too high and not too low – and got very close to the asking price.  Overpriced listings don’t sell.  A home can be flawless and move-in ready but if it’s priced too high, it will sit on the market.

I’m not using this post to brag about our abilities (but I do think we do more than 90% of the realtors out there) but instead using it as an example of what happens when the fundamentals of pricing and presentation are properly executed.

Portfolio

According to Portfolio, ”two qualities help Austin to stand out among the nation’s largest metros:

— Two thirds of the nation’s major markets have fewer jobs now than five years ago, but Austin added 99,200 jobs during that span. Its annual employment-growth rate of 2.8 percent is the fastest in America.

— Austin has the strongest concentration of young people among the 67 metros. Twenty-eight percent of its residents are between the ages of 18 and 34.”

The southwest region as a whole is a thriving one for young adults, home to five of their top 10 cities. Portfolio also published an interactive map of their results, so you can see how your city stacks up. 

Austin continues to stand out for employment and income numbers, but also quality of life. If you would like an emailed or mailed information packet on the work and activities Austin has to offer, contact us today.

SXSW Interactive includes a tradeshow for business and technology insiders to display their new gadgets and services, as well as conferences and panels discussing news and issues both locally and globally. Many travel from around the country or further for these exclusive Interactive events, particularly from Silicon Valley and the West Coast. This year especially, many of these visitors were discussing staying.

For “Making the Move from California to Austin,” local software developer and journalist Jason Levitt and Chair of Urban Transportation Commission and CEO of Less Networks Richard MacKinnon led an interactive panel of about 25 people, half from Austin and half from the West Coast. The two panelists presented information presenting Austin’s strong economic growth (that made it the “Best City for Jobs” and the only metro area to grow in the past year), the low recession impact and pro-business environment, and local high-tech industry.

Lake Travis Acreage

An informal vote following the panel showed that the west coast visitors considered Austin an upgrade. One participant, considering a wine-import company start-up, said, “I want to live somewhere with people who are friendly, laid-back and accepting. Even in the few days I’ve been here, talking to the locals, I know Austin has these qualities.”

Moving your business or home to Austin, big or small, is a strong choice with many benefits. Ask us today about information on relocation.

Pictured: Lake Travis Acreage

Austin

On March 2, Forbes released their list of metro areas in the U.S. with the best economic recoveries. Austin, Texas sits on top of the list along with Washington, D.C.

According to Forbes, “jobs have been lost nearly everywhere in the last three years, but between December 2007 and December 2009 the number of jobs in Austin rose by 0.98%; more than any of the other major cities we looked at.”

Economics professor Daniel Hamermesh points out Austin’s strong housing market as one of it’s biggest advantages. “The first advantage is that we haven’t had a housing boom, and therefore there isn’t much of a housing bust. The second advantage is that we have a diversified economy with lots of government and high-tech jobs.” The third advantage, Hamermesh says, it Austin’s desireability as a place to live: people stay even when “things go bad.”

The state as a whole fared well through the recession in the housing market.

Says James P. Gaines, Research Economist for the Texas Real Estate Center at Texas A&M University, “the housing market got lucky, if you want to look at it that way. We didn’t have excessive overbuilding, so we don’t have a big overhang of unsold new homes, and because Texas has among most affordable housing in the country, the demand sustained.”

“If one state is a poster child for economic recovery, it’s Texas,” writes Forbes.

Says Governor Rick Perry: “This Forbes ranking highlights the relative economic strength of our state’s major metropolitan cities, which is good news not only for the people who live in Texas, but for those looking to move to a state with a strong economic future. Texas continues to be the best state in the nation to live, work and raise a family thanks to our low tax burden, predictable regulatory climate, skilled workforce and principled, disciplined spending.”

Photo: View from the 555 Condo

Please email thedavemurrayteam@gmail.com to RSVP.

For more information on the home, see the listing or virtual tour.