Austin residential real estate market struggling....home sales fell 10% and home values fell 4%..... (job market, neighborhood)

[inthecut]

http://www.statesman.com/blogs/conte...in_august.html

Moderator cut: trolling

[llkltk]

Originally Posted by inthecut

statesman.com | Area home sales slip in August | Statesman Business Blog

:

Not a real estate agent. Our neighborhood in SW Austin is selling quite well. I think what a lot of realtors will say is that it depends on the area. Some parts of Austin are doing better than others. Why don't you take your gloom and doom somewhere else?

[centralaustinite]

It is all about price point and location! The higher-end homes that are in less than stellar locations (or condition) are hurting and prices are coming down (and probably have further to go).

Anything that is well-priced (lower than many can believe) is selling, and the $250K market and below is still very strong and in Austin that is a big chunk of the market.

But crickets are chirping in the 500K market, especially if $500K was the price the neighbor got in 2006 and not a reflection of the current reality!

(I'm not a realtor)

[HappyTexan]

And remember all the people protesting their appraisals...all wanting them lower than what Travis/Williamson counties think they are worth.

Yeah..I think the recession has finally settled in Austin.

[woodinvilleguy]

I've noticed that in my neighborhood houses are selling pretty quickly in the last 2 months. Not sure why, they are around 500k. Some under, some over. Maybe just an anomaly.

[Raskolnikov]

Real estate agent friend of hours said that sales were brisk and that she felt like things had already recovered. Inthecut is a troll who - for whatever reason - likes to post negative things about Austin. Would be interesting to know why.

[CptnRn]

Don't real estate agents always say those thinks? Its part of their mantra.

I don't consider inthecut a troll, even if our moderator cut one trolling comment, unlike a few people who come here and make absurdly negative and unsupported comments about Austin. It is my impression that he really tries to give people who are considering moving here honest information on how the local economy and job market is doing. There are plenty of Austin cheerleaders here who do just the opposite.

The truth is, the recession has hit Austin too and things are not all rosy here. The worst may be yet to come since it appears we are still on a downward trend. You really should go read these articles from today's paper. Especially the longer articles in the paper newspaper.

"I'm alarmed by these numbers," said Austin economist Angelos Angelou. "We have not had this high an unemployment rate, these persistent negative job growth numbers. And consumers are very concerned about their future and therefore are not spending. These are trends we cannot ignore," Angelou said.

I think inthecut is concerned, like I am that its not going to be good for Austin to have lots of people moving here hoping for work, and finding they can't get jobs. Remember "The Grapes of Wrath".

statesman.com

statesman.com | Austin job-loss rate deepens in August | Statesman Business Blog

[Exiled Texan]

I agree with central austinite. I follow central austin real estate very closely. No clue about any other areas.

[Raskolnikov]

Well it's one thing to not be a cheerleader and provide honest information. It's another to start 10 threads with alarming and negative titles. Inthecut is a troll because he does not really post here for any reason other than to create these threads. He's a non-contributor. I have not seen any helpful or informative posts by inthecut on any topics other than the ones he creates. That is the definition of a troll.

[inthecut]

Question...Can we delete the recession itself? What button do you press for THAT? LOL!