The biggest news in the residential real estate industry right now is the imminent extension of the $8,000 homebuyer's tax credit.
We've seen a significant positive benefit from the tax credit in the Austin market. Most Realtors, homeowners, and first time buyers breathed a sigh of relief this week when Congress announced its extension (and expansion) through April of 2010.
While the vast majority of real estate investors sit on the sidelines (thanks to reduced credit availability, and high down payment requirements), first time and even move-up homebuyers are keeping the duplex market afloat, and in some popular areas actually increasing overall median property values.
In a fortunate coincidence, the new American focus on frugality makes duplex ownership a smarter investment for many homeowners, who have decided that now might not be the best time to buy. After calculating how much lower their mortgage payment is with rental income from their neighbor's unit, and realizing that there are duplexes scattered throughout Austin's most desirable neighborhoods - people are coming to the conclusion that duplexes are a wise investment, indeed.
South Austin continues to be one of our most active markets right now. Well priced homes and duplexes are selling within days, very close to asking price. The magic price point in the market seems to be $200,000. If you're under, you're likely to get an offer. If you're over, you better have a fantastic property, or be priced significantly under the competition. I am your Home - Investment Specialist!! You may call me direct at 512-577-1909 or visit our website at: www.AustinChoiceHomes.com
ZIP Code: 78746 Approximate Location Boundaries: Austin,San Marcos, Kyle, Buda, TX.
Location Characteristics: The Austin Real Estate market, according to the The biggest news in the residential real estate industry right now is the imminent extension of the $8,000 homebuyer's tax credit.
We've seen a significant positive benefit from the tax credit in the Austin market. Most Realtors, homeowners, and first time buyers breathed a sigh of relief this week when Congress announced its extension (and expansion) through April of 2010.
While the vast majority of real estate investors sit on the sidelines (thanks to reduced credit availability, and high down payment requirements), first time and even move-up homebuyers are keeping the duplex market afloat, and in some popular areas actually increasing overall median property values.
In a fortunate coincidence, the new American focus on frugality makes duplex ownership a smarter investment for many homeowners, who have decided that now might not be the best time to buy. After calculating how much lower their mortgage payment is with rental income from their neighbor's unit, and realizing that there are duplexes scattered throughout Austin's most desirable neighborhoods - people are coming to the conclusion that duplexes are a wise investment, indeed.
South Austin continues to be one of our most active markets right now. Well priced homes and duplexes are selling within days, very close to asking price. The magic price point in the market seems to be $200,000. If you're under, you're likely to get an offer. If you're over, you better have a fantastic property, or be priced significantly under the competition. I am your Home - Investment Specialist!! You may call me direct at 512-577-1909 or visit our website at www.AustinChoiceHomes.com
About John Mangione:
Home-Investment Specialist! The Greater Autsin, TX area, Questions regarding Property Management or ANY Real Estate need in and around the greater Autsin - San Marcos area!
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