Austin Real Estate… Great For Investors??
With beautiful scenery, a booming business climate, a comparatively low cost of living and more, Austin is certainly a great place to live and recently, the world has taken notice. Numerous media outlets have included Austin in their various top 10 lists. Whether it?s the top 10 U.S. cities to live in, top 10 BBQ Cities, top cities for new graduates, best cities for small businesses or best cities for jobs, Austin has ranked high among the finest cities of the United States. Additionally, Austin has attracted an increased number of transplants and Fortune 500 businesses. In fact, from 2007-2009, more 25-34 year old Americans have moved to Austin than any city in the U.S.. As a booming tech town, Austin has also attracted some of the largest corporations. Recently, Apple has announced plans to expand their Campus in Austin as has Samsung, which began a 36 billion dollar expansion to its Austin facility. Facebook has also opened an office in Austin which has brought new jobs and talent to the Capital City. All these factors, added with the other strengths that Austin currently affords, paint a picture of current and near-future economic development and growth. These trends could make for great real estate investment opportunities and returns. Read on for more information about current Austin real estate trends and why now may be a great time to consider Austin properties.
Austin Home Market 2012
Thus far in 2012, Austin?s real estate market has been very strong. Sales are outpacing those experienced in 2011 and current inventory is down 23% as compared to last year too. These data points indicate that the Austin real estate market is hot and that competition to buy is becoming fiercer. Another metric that should be very interesting to investors is the high rental occupancy rate. As recent as February, rental occupancy rates were up to 95%. The effects this high occupancy rate could have on the market are increased rental rates and a subsequent trend in multifamily and single family home renting. Additionally, these data points are expected to continue to trend in the same direction.
Who’s Buying Austin Real Estate?
Another trend that is currently affecting the Austin real estate investment market is the increasing number of foreign real estate investors purchasing Austin. Recently, Austin was 7th in the list of top U.S. Cities favored by foreign real estate investors – up from 11th last year. To this point, numerous foreign investors have purchased properties in downtown Austin and in developing regions of the city. A significant portion of these foreign investor purchases included luxury condominiums and multifamily properties. With this increased competition from foreign investors and from new residents, Austin is becoming a very competitive market to buy in. However, there are still great values available to savvy investors.
The Future of Investing in Austin Houses.
Although it is impossible to predict the future of the Austin real estate market, the current trends are promising. Population growth, business development and a comparatively low cost of living, add up to a favorable climate for real estate growth. However, with the strong competition and rising prices, it is becoming more and more difficult to find a deal. Yet, there are great opportunities for real estate investors who consider wholesale real estate investing opportunities and fixer upper homes for sale. These opportunities provide investors a great value which could directly impact future returns. For more information about wholesale real estate investing and fixer upper homes for sale in Austin, visit the I Buy Austin Houses website. Through I Buy Austin Houses? unique business positioning and experience, the company has gained access to high potential wholesale and fixer upper properties. I Buy Austin Houses has years of experience in this booming market and can help you find high potential properties.