Tag: austin texas

Why You Need To Invest In Austin Real Estate Now

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In the Wall Street Journal/Realtor.com’s Emerging Housing Markets Index, Austin won second place. The report looks at the return on investment and the livability of the country’s 300 most populous metro areas. It also looks at the metro’s real estate market like real estate supply and demand and median list price and economic health like unemployment rate and daily commute times. The ratings help identify locations that are good places to invest and where you’ll enjoy living. Here are a few reasons why you should invest in Austin real estate now. 

Businesses Are Relocating to Austin

The Austin Chamber of Commerce has listed about 50 companies expanding in Austin or moving to Austin. Some of them are popular ones like Amazon, Tesla, and FedEx. Apple is continuing to grow with its 1 billion dollar campus. Zoho, a software company, is moving its headquarters to Austin. 

Even without businesses relocating, Austin is home to major employers like Apple, Ascension Seton healthcare headquarters, Cisco Systems, eBay, Facebook, Google, and so many more. 

Austin’s job market is constantly growing and bringing people in as businesses continue to relocate and set roots in Austin. 

Population Is Growing

The U.S. Census found that Austin is one of the fastest-growing major metro areas in the country. According to CBS Austin, our beloved city has also been #1 in population growth for eight years in a row. From that same Austin Chamber of Commerce list, at a minimum, each company creates ten new jobs. Just the Amazon Fulfillment Center in San Marcos is expected to bring in 2,000 jobs! Apple’s new campus is expected to bring in 5,000 jobs. Zoho’s relocation is bringing up to 500 people.  

It’s been estimated that about 100 people move to Austin each day. Austin’s population has doubled every 20 years. Austin’s population is expected to double by 2040 and reach 4.5 million residents. 

Home Prices Are Increasing

Currently, we’re in a seller’s market as inventory in the Austin-Round Rock area reaches 0.4 months, according to the Austin Board of REALTORS® March statistics. A seller’s market works in favor of sellers as they now have the option to accept the best offer. This usually means buyers will try to outbid each other, and the seller will receive multiple offers, most offering over the list price. The median sales price has increased almost 30% to $425,000 compared to March 2020. These prices aren’t stopping anytime soon as supply is still low, and it won’t be changing soon. That’s why you need to invest now; get the best deal now before it’s too late! At TALK property management, we are dedicated to providing you with the best service. And as your real estate agent, I can help you find the smart investment properties that will give you a return on investment. 

 

If you’re ready to start your investing journey with me, contact me today! Reach out to TALK Property Management– We are here to help: (512) 721-1094 or dbrown@talkpropertymanagement.com.

A Realistic Look at Austin Investment Opportunities in 2020

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If you are considering investing in Austin real estate as we approach uncertain times in the COVID-19 era, you need to be realistic and ask yourself the hard, honest questions. An economic downturn can offer opportunities for real estate investors where competition is lessened, and the number of those seeking rentals can increase. Investing in Austin requires a keen eye for opportunity, and now is the time to prepare to buy a rental property. 

First, an Austin investor needs to understand the current real estate market. Local REALTORS® have access to resources that an investor can use to study current trends. Consulting with an agent that works daily in Austin’s home buying and selling industry is key to making an informed decision. Recently, residential sales in the Greater Austin area have increased by 2.2% year over year, while the median price hit a spike of 11.7% compared to March 2019. The numbers indicate that the first of the year’s activities were on track to continue pushing the market to new highs. As the May selling kicks off, the housing market could start to see subtle or not so subtle changes due to COVID-19’s effect on the economy. No one has absolute answers, but we can strongly speculate a significant shift ahead. 

Second, those seeking to buy rental properties in Austin need to evaluate their financial situation honestly. Here are a few key areas to analyze:

  • Savings – can you cover at least three months of personal expenses, including having funds set aside for emergencies?
  • Job situation – are you in a stable position, or does your industry anticipate layoffs?
  • Assets – do you have assets that will become a burden and/or are you considering selling one or multiple assets first?
  • Liquidity – do you have readily available funds for a down payment, repairs, maintenance, and future mortgage payments?

2020 health concerns are creating unprecedented times but can also present opportunities for those intending on investing in Austin rental properties. For the realistic buyer, now is the time to prepare for those opportunities. If you need guidance from a local, experienced REALTOR®, contact Dona Brown and Talk Property Management. We serve in Travis, Williamson, and surrounding counties in residential sales and property management. Call 512-721-1094 for a free consultation. 

DIY Fouls: 4 of the Worst DIY Mistakes Homeowners Can Make on Investment Properties

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While it may seem like a good idea to save a buck and perform investment property repairs yourself, DIY repair projects don’t always pay off, and things can get ugly rather quickly. Stay away from these common DIY mistakes that homeowners make, and leave them to the licensed repair professionals.

#1 Drywall Repairs. An extra coat of paint is no biggie, but if your investment property’s walls are in need of drywall repairs from things like cracking around windows (generally speaking, if you can stick a coin in it, there’s a problem), settling around door frames, or holes in the wall, it’s tricky to get it right on your own. Enlist the help of a drywall professional who has the tools and experience to repair the issue correctly.

#2 HVAC Repairs. Your investment property’s heating and air conditioning systems are complex, and they’re often connected to gas and electrical lines. Making a small mistake can jeopardize the system and lead to costly repairs. Hire a licensed HVAC technician to correct any problems.

#3 Electrical Repairs. Installing a ceiling fan or a simple light fixture isn’t usually a big deal. However, when you start dealing with circuitry and breaker boxes in your investment property, the potential of seriously injuring yourself or starting a fire increases dramatically. Electricians are up-to-date on all the recent code requirements, and they have the advantage of working with electrical systems daily. It may seem like a good idea to go it alone, but don’t fall prey to this DIY mistake.

#4 Plumbing Repairs. Incorrectly repair a plumbing issue, and you’ll find yourself in a lot of hot water, no pun intended. While a leaky toilet in your investment property may appear easy to fix, the problem can escalate, or there may be more to the issue than meets the eye. Because water damage is serious and expensive to fix, start at the right place, right from the beginning: hire a licensed plumber.

While it may be exciting to put on your DIY cape when it comes to your investment property, resist the urge–at least on these four important items. Spending the extra money to have a licensed repair professional evaluate the issue prevents DIY mistakes from turning into costly DIY problems.

Have a real estate or investment property question? Reach out to me anytime.