Is Austin headed for its worst real estate slowdown in years?
Did you see the recent headline by Bloomberg? I have the article printed out here… it’s 5 pages long:
US housing market looks headed for it’s worse slowdown in years
The article goes on to say particularly in cutthroat areas like Seattle, Silicon Valley, and Austin, Texas where it appears to be headed for the broadest slowdown in years.
Does the name Robert Schiller ring a bell with you? Robert, is the Nobel
prize-winning economist, who is famed for warning of the dot-com and the housing
bubbles. He said he’s not quite ready to make the call yet but he said this could
be the beginning of a turning point.
this could be the beginning of a turning point.
There’s a lot of data in this article. A couple of other things I want to point out. Ed Stanfield Chief Property Economist with Capital Economics says we are now looking for a period of time in which prices move more or less sideways or increase no more than growth in
incomes over the next few years.
So, I am having sellers now tell ME when I go on appointments with them that they believe that the Austin real estate market is flattening and folks that is huge. I’m not telling them. They are telling me. This says, yes, we are at the beginning of a slowdown.
Whenever sellers begin to change their sentiment it’s huge.
So what does that mean…
and what are you to do if you’re thinking or needing to sell your home or to buy your home? Well, what that means for sellers is that you must you must price your home aggressively. You must beat out the competition in order to get your home sold.
It’s what sellers must do during a slowdown.
For buyers, know that sellers are now more willing to negotiate. So if you are ready to buy, if you need to buy, you can take advantage of this slowdown right now.
Give me a call today 512-516-4666.
