Despite the fact that the global real estate marketplace has been struggling over the past several months, the Association of Foreign Investors in Real Estate (AFIRE) reports that Austin is still considered an attractive investment among foreign investors.
According to the new report, Austin tied for the 11th place spot among foreign investors interested in investment opportunities within the United States. This is actually up from the 2008 survey, at which time Austin ranked in the number 16 spot.
Austin was part of a 7-way tie this year, placing ranking in the 11th place position along with Phoenix, Las Vegas, Atlanta, Orlando, San Jose (California) and San Diego. Washington D.C. came in the number one position, with New York coming in second,…
Considering the current economic troubles the world is currently facing, much of the state of Texas is faring remarkably well in terms of job growth. In fact, according to figures that were recently released by the United States Bureau of Labor Statistics, 6,200 private-sector jobs were added in Austin during the period between November 2007 and November 2008. When compared to the rest of the country, this was the 10th biggest gain in any metro area.
Austin isn’t the only Texas area to demonstrate resiliency during these troubled times. In fact, Houston and Dallas-Fort Worth had the largest gains in the country with Houston adding 42,400 jobs during the period between November 2007 and November 2008. Dallas-Fort Worth also added an additional 35,100…
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A true custom built home with all the extra finishes, designer ceramic tile floors throughout, high ceilings with lots of crown molding, rounded corners, granite counters, upgraded cabinets, tile back splash, stainless steel appliances, large bedrooms, ceiling fans in all bedrooms, covered patio, sprinklers, finished garage, and stamped concrete driveway and back patio. Conveniently located close to shopping and restaurants. This home has everything but you!
When compared to other housing markets across the country, Austin has managed to remain one of healthiest. Nonetheless, the troubled economy and the struggling housing market have certainly taken a toll on the Austin real estate market as well. In fact, the Austin Board of Realtors reports that home sales in the Austin area fell a whopping 40% in November of 2008 when compared to the November sales for 2007.
Not only have home sales hit a downward spiral in the Austin market, a study recently conducted by research firm Metrostudy found that new home starts have also been falling and will continue to fall. In 2007, the Austin market enjoyed seeing 12,400 new home starts. In 2008, this number fell to just 8,000 home starts. If current trends hold…
During these tough economic times, the entire country is experiencing the financial pinch. Sadly, thousands of people have lost their homes to foreclosure due to their inability to pay their home mortgage loans. Although these financial difficulties have struck the Austin area as well, RealtyTrac Inc. of Irvine, California reports that Austin performed better than other cities in 2008 when it comes to the number of foreclosures.
According to RealtyTrac Inc., just under 1% of homes were foreclosed upon in the Austin-Round Rock area. This accounts for 5,737 properties and places the Austin-Round Rock area in the number 80 position of the top 100 U.S. metro areas. At the national level, home foreclosures rose a staggering 81%, which equates to…
Round Rock will soon be home to a new $119 million Austin Community College District campus. According to Austin Biz Journals, the college broke ground on the new campus recently and will expects to be open to students by 2010.
The new campus, which will be able to serve 11,500 students, will cover approximately 600,000 square feet. The building, on the other hand, will cover 275,000 square feet. This building will include both classroom and administrative space. In addition to housing traditional classrooms, it will also be home to science labs as well as several specialized facilities that are designed to assist students with getting into the workforce. Some of these will include renewable energy facilities and automotive technology facilities.
The State of Texas Sees a Higher Net Gain of Incoming Relocations Than Any Other State
According to a report recently released by Allied Van Lines, the state of Texas remains the number one state for residential relocations. This isn't the first time the state has received this honor, however, as it was also ranked number one during the previous four years.
In the report, which is officially named the 41st Annual Magnet States Report, tracks migration patterns throughout the United States. The company found that 3,988 people moved out of Texas with the help of Allied Van Lines, while 5,891 people moved into the state. As such, the state had a total net gain of 1,903 new residents.
Although this number is down from the previous year, which saw a…
During a time when the unemployment rate is increasing in cities around the country, the city of Austin actually expects to add around 2,100 jobs in 2009. While this is a bit disappointing for the city, which added about 19,000 jobs in 2008, it is still better than most other cities around the country.
Angelos Angelou of AngelouEconomics recently released his annual forecast to the Austin business community, at which time he discussed the effects of the recession on the city of Austin. While he acknowledged that things are looking more grim than usual, he also expressed optimism for the city – particularly in the areas of creative media and renewable energy.
“Austin has been through these cycles before, and come out stronger than ever,” Austin Biz…
