Tag Archives foraffordability

Austin Real Estate Market 2014 to Remain on Fire

Sylvia and I usually attend an annual Austin Real Estate Economic Update to find out what the coming year holds. This year, I exclaimed to her, “Why bother?  It’s going to be full tilt boogie, just like 2013“. I mean, Austin is rumbling along with all cylinders firing. There is nothing I need to hear about 2014 that I don’t already know. We’re gonna be working our butts off and house prices are going to keep rising.

For many, this is good news. If you’re going to sell a home in Austin this Spring or Summer, you’ll be happy. If you’re buying a home in Austin, you better have an “A Game”, and you better be ready to bring it. And I mean bring it. You don’t buy a house in Austin anymore, you compete for one. Oddly, you’ll be happy too, when you finally win a multiple bid competition and pay too much for a house.

Many of our Realtor friends had record production years in 2013, as did Sylvia and I. Most are looking forward to another busy year in 2014. But I don’t like it. I don’t want to be this busy. And I think, to some degree, these manic real estate swings and rising values are ruining Austin, and the real estate profession. Everything has become hyper-instant. Everything is Urgent. Sylvia called on a new listing the morning of Jan 2nd which had already gone under contract with 7 offers New Years Day. This wasn’t even in a “hot” area. Why aren’t people sleeping in on New Year’s Day instead of out fighting over a house?

I know. It’s a weird thing to complain about, being busy, doing well, enjoying professional success. Shame on me. Read more …

Posted by Steve
a couple of years ago