Austin Real Estate

New lofts and condominiums are springing up all over downtown Austin, a trend that has caught the eyes of realtors and economists as well as people looking for a new home. It is speculated that this trend is being supported by a related trend: the growing popularity of a “pedestrian” mindset. As people become increasingly conscious of the health, environmental and economic benefits of walking and biking, they are becoming more interested in homes where everything they could need is within walking distance. Downtown Austin certainly offers this, with businesses, restaurants, markets, performance and more all readily available to residents.

For more information about Austin lofts, contact Austin downtown realtors through the Carvajal Group by calling  512-419-7770.

Across the nation the housing market has witnessed an overall decline in home values.  According to researchers, for sale prices have dropped by 0.8% this month and by 1.7% over the past three months.  Most of the pain is felt in the coastal markets, particularly in Florida, where the average property turnover rate is the highest in the nation.

Research did notice that there were a few places where the market didn’t suffer as much.  The Midwest has actually seen a declining inventory over the past few months.  This is good news for the short-term markets.

Experts expect greater decline in the fall, when the business generally sees “seasonal slowdowns.”  Austin has one of the leading markets in the nation right now.  It boasts the lowest average turnover rates in the country.

Whether you are an investor looking for new opportunity, or a family looking for a place to calm home, there is definitely still of potential in the Austin, Texas area.  For more information, call the Austin real estate specialists at 512.419.7770.

The Wells Fargo tower in Downtown Austin, Texas was recently purchased by a Swiss Real Estate Investment Firm.  The company had been wanted to expand their portfolio to include holdings in the United States.  The purchase took place on July 8^th, 2008.  The building is currently 96% leased and has over 280,000 square feet of rentable space on over seventeen floors.  Tenants include reputable companies and distinguished law firms. 

Being close to the University of Texas, and also the central business district of Austin, it bodes for great appreciation over time.  The firm boasts a portfolio of properties all over the world and supplements their income with sophisticated financial products for Swiss citizens. 

The purchase is a testament to the growing Austin and central Texas economy.  Home values are poised only to go upward.  If you would like more information about the Austin Texas real estate market, contact the Austin Realty Specialists of the Carvajal Group at 512.419.7770.

Despite downhill market dips, the Austin area real estate market has been holding steady.  As one of the fastest growing metropolitan areas in the United States, the real estate market remains in the hands of buyers.  There has also been a 5% increase in the number of available new homes for Texas residents. 

This contrast between the Austin market and the rest of the country has many buyers in a wait-and-see mode, hoping that the prices will go down even farther.  As more and more people move into the city, the demand for housing increases.  The constant influx of people who are working and contributing to the economy need a place to stay, which has kept the Austin market in a very good place.

For more information on the Austin, Texas real estate market, contact the real estate specialists at the Carvajal Group by calling 512.419.7770. 

In the way of the recent mortgage crisis, a new phenomenon has popped on the real estate mortgage market radar.  Payment shock is an event that takes place usually from predatory lending.  People who are unaware that they are signing onto an adjustable-rate mortgage (ARM), a balloon interest loan or some other obscure financial package, are suddenly present with a much higher payment than anticipated.  A recent study found that certain social economic groups and ethic groups are at greater risk of experiencing payment shock. 

It is important to remember that when you are signing a contract to buy a home, you are entering into a legally binding contract.  Know everything that you can about what you are doing.  Spend the time to do the research and get sound advice before signing on the dotted line.

For more information on ways to prevent experience payment shock, call the real estate specialists at the Carvajal Group at 512.419.7770.