Even though the only headlines that you’re probably reading in the news and hearing about on tv are about the terrible times for real estate, big downturn, and only more trouble ahead for the home building industry; this is actually great news for buyers right now! The Austin area has the highest number of homes listed at over 10,000 which is significantly higher than a year ago. What this means for buyers is that you can actually choose from the best available homes and can stand to negotiate discounted prices and even get incentives thrown in like washer/dryers and refrigerators, etc. So with the resale market getting real competitive, what do you think this means for the new home builders?
What we’re seeing right now is builders all around the area starting to give deeper discounts on to be built homes and huge discounts on inventory homes. Even some of the top builders in the area are giving up to $30K off homes and throwing thing in to sweeten the deal to attract buyers to choose their homes over other new home builders and to compete with the large home resale market.
The bottom line is that it’s a great time to buy in the Austin area specially since Austin is ranked 4th on the list of top 25 appreciating US markets. Another supporting point why it’s a great time to buy in Austin is that the median price in Austin rose to $182,500, up 9 percent from September 2006. Real estate experts attribute the jump to steady appreciation, rising home construction costs and more sales in higher price brackets. The Austin housing market is faring better than many markets around the country, thanks to a healthy economy fortified by strong job and population growth. Also, the region didn’t suffer the price bubbles that are now bursting in other cities.
Contact me to get a list of the local builders with red hot deals on inventory homes and to-be-built homes.