Austin Home Prices Expected to Rise in 2012

Case Shiller Home Price Index Predicts Austin Home Prices Expected to Rise in 2012

Austin Home Prices

Austin Home Prices Expected to Increase in 2012

Despite the recent study that shows that Austin metro area home prices fell by 2.3 percent in 2011, the fact that Austin home prices expected to rise in 2012 is welcomed news.

Austin Home prices will see a growth of 0.6 percent between the second quarter of 2012 and the second quarter of 2013, the report said.

Austin is very fortunate to have avoided the negative impact of the housing bubble that much of the rest of the country is experiencing,” says Hippie Hollow Homes Co-Founder Shenoah Grove.  “While opportunities for short sales do still exist for some unfortunate home buyers, those who need to sell their homes fast still may do so without having to let their houses go to foreclosure.

One of the biggest reasons that Texans were able to avoid the bubble is due to lessons learned from previous bubbles, like in the ’80s.  The Texas rule that prevents homeowners from taking out more than 80% of home value on a refinance helped stay the mad dash to take out all the equity from their houses in the mid part of last decade.  Since people weren’t refinancing in Texas at the same rate the rest of the country was, we didn’t experience that same bubble.  Conversely, when the bubble popped, we didn’t experience the same drop.  Austin home prices grew at a slow, steady pace.

“Foreclosures account for only 14 percent of the 5,298 total listings in Austin, that’s a much lower percentage than in the markets with the largest home price crashes,”  said David Stiff, chief economist at Fiserv.

Since there are fewer foreclosures, there are fewer real estate transactions occurring at a discounted rate.  Also, Austin’s ‘shadow’ inventory is much lower than other states, which is why Austin home prices are projected to increase next year.

For more information on Austin home prices in 2012, please visit: http://www.bizjournals.com/austin/blog/retail/2011/11/report-austin-homes-prices-fall-but.html

Austin Home Prices Expected to Rise in 2012 | What if your house is distressed?

While 86% of Austin homes are selling at market price, there’s still 14% that require assistance.  Foreclosure is not a good option and there are some ways to avoid foreclosure and sell your house without coming out of pocket even if you have little, no, or even some negative equity!

At Hippie Hollow Homes, we have been a part of over 1,200 successful real estate transactions totalling more that $200,000,000 since 2003.  We’ve had tremendous success during the toughest housing climate because we think outside of the box.  Phill Grove, Co-Owner of Hippie Hollow Homes, is regarded as the top post bubble real estate investor in the U.S. and is a national speaker as well as creator of the Assignment of Mortgage Payments System.

Hippie Hollow Homes is uniquely different from any other real estate solutions provider. Contact us and we guarantee the following:

  1. We will always make you an immediate cash offer
  2. We will always offer to list your home, with one of our affiliate agents, with our purchase offer as a back-up
  3. We will also make you some creative offers that may be more beneficial to your situation and timeframe
  4. We will share with you a market analysis on your home, that determines it’s as-is value, in today’s market, compared to homes recently sold around yours
  5. Our offers are no-pressure, no-obligation
There’s not alot we haven’t been able to accomplish over the past couple of years, but we CANNOT help you if you do not contact us today.

Image: Kookkai_nak / FreeDigitalPhotos.net

If you liked ‘Austin Home Prices Expected to Rise in 2012’, then you may also enjoy other articles about real estate in Austin and San Antonio Texas available at Hippie Hollow Homes

 

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