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house in bubble with question mark over it, austin housing market, is the austin housing market in a bubble

Even if you haven’t bought or sold property in the Austin area recently, you have probably heard about the wild ride that we are on currently.  To put it simply, prices are up and inventory is down.  Take a look at the latest numbers…

So, the question that so many people in the Austin area are asking is, “Is the Austin housing market in a bubble?”  That’s a valid question and the answer is definitively NO. We are NOT in a bubble.

Colin Pope of the Austin Business Journal comes to this same conclusion in his article entitled, “NOPE – Experts Agree: This Isn’t a Housing Bubble.”

What is Causing the High Real Estate Values in Austin?

Ok – so if we are not in a bubble, what exactly is causing the high real estate values in the Austin…

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Dripping Springs, Georgetown, Lakeway - Who's Next?

Good morning, Everybody! It’s Sunday afternoon and it’s really foggy in Austin this week and has been absolutely crazy.

I went to Dripping Springs yesterday. I have been up to Georgetown today. I’m going out to Lakeway; and then I’m going to come home and look at all of the multiple offers on one of my listings - all of which are super strong. They’re all over $1 million - which is not what a normal market brings.  So many people are bringing cash. 

Buyers Can Still Win in this Austin Market Too

This is a really rough time to be on the buyer side.  However, I was the winning bidder in multiple offers for some of my buyers this week!  Two of them in Northwest Hills! 

So, it can be done.…

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Recently, I listened to Eldon Rude, Principal, 360 Real Estate Analytics, discuss the 2020 market and 2021 going forward - specifically the housing market, builders, sunbelt surge, land, office market, and jobs.  I wanted my readers to have some of these insights into the 2021 Central Texas Housing Market as well.  So, here is a summary of my notes taken during his presentation.  I think you will see this Central Texas Real Estate Market is complex, so please don't hesitate to contact me.

The Central Texas Housing Market Surge

This "surge" began in mid-May 2020 and never waned.  Builders sold 20-30% MORE homes in 2020, even as labor and materials were unstable. 

Due to the pandemic, many job holders realized they could LIVE wherever they wanted,…

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TODAY THE THUNDERBIRDS WILL FLY OVER AUSTIN!  AND..

.TODAY, the National Association of REALTORS, NAR, held their 2020 legislative meetings, with a zoom slide presentation by the national  chief economist, Dr Lawrence Yun. Believe it or not, March/April looked pretty bad on the news. But Dr Yun make some very important points.

1. while many sectors in economy were down (jobs in  leisure and hospitality were 1/3 of the jobs lost), followed by education, health and retail, he pointed out that the home improvement sector rose 15% and online sales rose 10%. and although 33 MM filed for unemployment, many were first time filers who will hopefully regain their jobs this year.  He emphasized 80% of the jobs lost are temporary loss according to the…

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downtown Austin skyline and LadyBird Lake

First and Foremost:  Wash your hands and practice social distancing.

Today in the Austin area, there are over 17,000 real estate licenses, majority of whom have never experienced any downturn or hickup in the Austin real estate market in their working lives.

I, however, started in full time residential real estate before the 2000 dot.com crisis, before 9/11, and long before the 2008 banking recession.  In all these cases, the Austin real estate statistics proved out that our housing market rises slowly, levels off when the rest of the country's housing market goes into free-fall, and Austin's market is fundamentally different for one very important reason:  JOBS.

Austin has jobs, is creating jobs, building apartments and houses as fast as we…

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The Austin real estate market continues to be red hot.  Builders will build close to 19,000 homes in 2020, up from 18,000 in 2019.          Job creation has been 29,000 new jobs in 2019.

Quoting  principal of 360 Real Estate Analytics, Eldon Rude, " If job growth remains at levels we have seen in recent years, I don't see anything on the horizon that will slow the robust demand in the region in recent years."

  18 new, big real estate projects, ABJ  read this link for everything from the new 10,000 seat basketball Moody Center to the new Austin FC Soccor, 

Amazon is building a 3.8 million square foot distribution center NE of Pflugerville off Toll Road 130 that will be four times larger than their current one in San Marcos.  Amazon is also…

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Welcome to a new decade, and my NEW website, a labor of love for you.  It is fast, great content, easy to load and navigate. Check out the new FAQ section of youtube videos I wrote and had produced.  I'll keep adding to this library as the year goes on.

To start off the 2020 year, the first big article of the year was a headline in the Austin Business Journal,

"Zillow predicts Austin will have the nation's hottest housing market in 2020."   Business Journal article on Austin market

Austin offers a thriving low employment, driven by jobs, jobs, jobs in the high tech market through Amazon, Apple, Google, Facebook, and an avalance of out of state buyers moving here.  While it's showing up north and the daylight ends mid afternoon, those that come…

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January 3, 2019:  I attended the first of many economic forecasts.  Today was from MetroStudy, Vaike O'Grady, at the DRHorton VIP REALTOR luncheon.  MetroStudy is a veteran  Austin company that does forecasting with developers, homebuilders, and local MLS database information.

Here are the highlights:  first Austin added 35,200 jobs , up 3.3% in 2018, and over the past 5 years has averaged approx 36,000 jobs /year.

we are 7th in the Nation for job creation.  Austin expanded 7.9% annualized, mostly in Health,Professional services, and CONSTRUCTION.

Our unemployment rate (Nov. 2018) is 2.7% and has been under 4% for 5 years running.

Where are all these people coming from ?  30% are out of area, 30% of those are from California.

TOP FIVE…

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Today three great minds came together at the JWMarriott before 700 industry folks for the annual 2017 Home Builders of Austin Housing Forecast: Eldon Rude, Principal of 360* Real Estate Analytics, Dr Greg Hallman,Senior Lecturer in Real Estate Finance at the University of Texas at Austin McCombs School of Business, and Colleen Sharp, VP of Kantar Futures.

Two great hours were spent by a packed ballroom of business leaders listening about the Austin, Texas, US economy, interest rates, job growth, Consumer confidence, housing starts, rents, prices, GDP, and the economic entwining of us and the world economies in China, India, EU, etc.

I want to recap my thoughts on this, with a focus on the Austin real estate markets. 

1. Austin has seen a…

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