With predictions that the Central Texas region could experience shortages of lots, many homebuilders buying up what they can. Standard Pacific is no exception. They are scheduled later this month to close 163 lots of the 111 acre Avana developement. “We’re looking to grow and gain market share within Austin, and we’re positioning ourselves for an upturn in the future,” SP’s vice president of land, John Bohnen said, commenting that SW Austin is “a great submarket” due to lot scarcity.
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Economist Dr. Jim Gaines of the Real Estate Center at Texas A&M University gives a comprehensive look at where the economy, construction, employment, population, and housing is headed in this video 2009 and Beyond. The data is stagering and certainly leaves Texan’s feeling a bit lucky. Dr. Gaines covers a mountain of research in this 52-minute video in a manner that is clear and concise. Definitely a must-see for all Texas real estate agents. Here are a few tidbits:
Texas Outlook 2009
*Texas job growth is predicted to be 1.5-2%.
*Housing market expected to be relatively strong but “spotty”.
*Reduction in overall residential demanded related to tighter credit, less investment buying, and less second home purchases.
Research includes insight into what lead to this housing crisis and why Texas is fairing much better than most of the nation. It feels good to finally put the numbers and graphs to what we as Austin real estate agents have been experiencing, and the extrapolation of this data is invaluable to future business planning.
Dr. Jim Gaines, Real Estate Center, 2009 and Beyond
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