Austin Texas: always a constant source of entertainment, education and a platform for just about anything, but spring time certainly kicks things up a notch.
March Highlights in Austin
The City becomes a global showcase for technology, music, film and even kites. Honorable mentions include President Obama’s keynote, his trip to Torchy’s Tacos, the First Lady’s visit and a record high of 92 degrees. Highlights for the month include the South by Southwest (R) film, interactive media, and music festivals and conferences, the Zilker Park Kite Festival, Rodeo Austin and St. Patrick’s Day at Fado. Last years SXSW (R) festival alone generated a total economic impact of $317.2 million. It is the single most profitable event for the City’s hospitality industry.
Attention Getting Austin hits 2 Million Residents
It was also spring break in Central Texas, so if you left town – you missed the traffic as well as the tie fighter. Austin’s consistent global spotlight reflects the booming real estate market. Plenty of people come for a visit for work or vacation and then don’t want to leave. The U.S. Census Bureau just reported growth in the Austin-Round Rock metro area from 1,943,465 in July 2014 to 2,000,860 in July 2015.
For every event I mentioned, there were 2 that I didn’t. Let’s just say adults and children alike were a little sleepy last week from springing ahead along with being back to the daily grind.
It was an amazing week to be in Austin last week. We started with the Zilker Park Kite Festival, then moved on to SXSW, and it was spring break. All in all people were out and about exploring this wonderful city we live in. Where was I? A little bit of everywhere, buyers are hustling to meet the tax credit deadline, and I am moving them along. My goal is to have everyone who cares about the tax credit to be under contract within the next week.
Understand, we need our option period to decide whether to go forward with the house, and then there is of course, the financing hurdle. I am advising my clients to keep the ball in someone else’s court while we shop. If the Lender wants pay stubs, tax records, employer contact information…whatever it is, let’s get them the information they need, so we can get the file into underwriting as soon as possible.
Lender qualifications change often, so it is important to keep in contact with them. If for some reason, we fall out of contract and then need to find another house to purchase, we still have time to meet the deadline.
Sellers who have their homes on the market between Thanksgiving and Christmas typically need to move, which makes this a triple threat season to buy. Interest rates are low, for one. In addition, sellers who need to move have their homes priced well. Lastly, not only is there a first time home buyer credit, but now a second time buyer credit as well.
Hey, have you heard the world is supposed to end in 2012? That gives us 2 years to go! Here’s a list Austin is not on…of the worst places to live if you are in a disaster movie, click here.
Last week I went on a tour of a new subdivision being built in South Austin, called Central Park. Located off of Stassney Lane, this 42 unit subdivision offers 6 floor plans, of which one plan is a 1-story. Base prices start at $188,999 and go to $236,999. Here’s a peak