Buying a home in Austin TX requires different strategies than it did in the past. Low interest rates, the population boom and a shortage of available homes are all contributing to an intensely competitive market. Multiple offers, selling prices 20% – 40% over list price and numerous buyer concessions, such as appraisal and inspection waivers – are fast becoming the new normal.
If you’re thinking about buying a home in the Austin area, you can either accept these current conditions and make adjustments to your strategies or you can cling to your perceptions of how things should be. If you choose the latter, you may be looking for a house for a long time – while other prospective buyers (in the exact same market) will move themselves into the homeowner category.
Charles Lewis is a REALTOR® in the Austin area. He helps people all over the Austin metro area buy and sell houses. Schedule a no-obligation phone call to find out he can help you accomplish your real estate goals.