San Antonio and Austin Named in Top Ten List!

Great news for Texas and the Austin to San Antonio corridor! In a recent article (July 08) from MSN Real Estate, San Antonio was named #2 and Austin #10 in the study which shows the cities where one can build the most equity in a home by 2012 ( a 4 yr. investment) The title of the article is “66 Cities Where Buying Makes Sense”. Here is a portion of the aritcle quoted from the MSN website:

“With house prices falling around the country, many renters are wondering if this is the time to jump in and score a deal.

The answer, of course, depends on where you live. In much of the U.S., you’re better off buying despite falling home values, say new data compiled by the National Low Income Housing Coalition and the Center for Economic and Policy Research.

Of the 100 most populous metro areas, 57 have average three-bedroom rental costs higher than the cost of a 6% loan for a typical low-priced house, including Little Rock, Ark., and Akron, Ohio. (The study’s authors defined low-priced as 75% of the area’s median.) Those renting two-bedroom apartments would be better off buying a low-priced home at a loan rate of 6% in 24 of the 100 largest metro areas.Even more interesting to potential homebuyers is the chance to build equity. Here, too, there’s good news for many major metros. In 66 of the top 100 markets, you’d be in the black in four years should you buy a low-priced home today.

To see the chart and read it in its entirety, go to

http://realestate.msn.com/Buying/Article2.aspx?cp-documentid=8378117&GT1=35000

And closer to home, homes sales were up for May 2008 (the highest point in 8 months) over April for the Austin and surrounding areas according to the Austin Board of Realtors. Even better news, as our median priced homes increased to $196,120, we had a seven percent INCREASE in value over May 2007….so yes, we are very fortunate to live in a wonderful attractive climate and feel good about our investments in real estate also. Call me today if you have any questions about why now is the best time to buy a home, land, or condo in Central Texas! (Stats taken from July 7, 2008 issue of “Showcase USA Featuring Real Estate’s Finest”. See http://www.The ShowcaseUSA.com for complete article.)