AUSTIN, TX, January 09, 2011
/24-7PressRelease/ -- With real estate markets reeling across the nation, Austin has escaped the housing disaster that has plagued other metropolitan areas. In fact, there will be a potential housing shortage in Austin in the coming years due to a dwindling supply of developed lots. Austin is also recognized as one of the best job markets in the U.S. More and more people are migrating to Austin to take jobs and filling up apartment buildings and rent houses. Although Austin has fared well in the recent downturn, it's housing market was still affected by tougher lending guidelines and oversupply in some sub markets.
"The rental market is extremely tight right now, approaching a 97% occupancy ratio." Kenn Renner mentioned. "Rents are going up and vacancy times are going down. It is a great time to be a landlord and I will be talking about that at the show." Kenn, who sold over 400 rental properties in the past five years, added, "we are seeing investors re-enter the market to take advantage of the low rates and great prices. I am seeing a lot of local residents buying rental property as an additional retirement vehicle. Their intention is to pay the rental off and have free and clear income producing property. The future for Austin looks bright."
New home sales in Austin have dropped substantially from their peak in 2006 but home building is showing signs of much stronger stability. "It's a great time to buy a home, especially a new one. The builders are fighting for market share and are literally giving away the kitchen sink" Kenn muses. "With interest rates so low and expected to rise, I can't think of a better time in recent history to buy a home or investment property".
Those who are considering buying or selling a home or investment property in Austin are encouraged to attend the presentation.
The 2011 Real Estate Forecast will be presented via webinar as well for those who cannot attend the live presentation. Visit http://www.BuyAustin.Com for details on the seminar and webinar.
Kenn Renner is a nationally recognized speaker and author of "Home Buying Secrets Revealed" (www.HomeBuyingSecretsRevealed.Com). He has closed over $100 million in real estate transactions in the past five years. He can be reached by phone (call or text) at 512-423-5626 or by email at Kenn@BuyAustin.Com
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