News Details (Posted: September 26, 2007):

Austin Area - Healthy Real Estate Market

Full Description:

CALL TO ARMS: AUSTIN REAL ESTATE MARKET REMAINS HEALTHY Dear Friends, Most of you have clearly noticed that the Austin residential real estate market has recently taken a precarious turn downward. Being in the unique position as market leaders, we probably have more clarity into the situation than most. My call today is for all real estate professionals in Central Texas to come together to relay a common message to the public about the health of the Austin market. I believe, and I am sure you will agree, that most of the hesitation we are seeing in the market is a result of the barrage of headlines about the national real estate market and the fall-out from the sub-prime lending market. While these events may marginally affect Austin, they shouldn't be having as great an impact as they are. The entire real estate community must come together and remind everyone that Austin: · Is ranked by Business Week as having the most affordable housing of any metro area in the nation · Is in the top 10 markets nationally for job growth and actually has the healthiest job market in the last 6 years · Has a foreclosure rate that has actually fallen since last year · Is expected to double in population in the next 20 years · Has never seen the dramatic rise in prices that has troubled many markets around the country · Is absolutely the coolest place to live in the country · Has absolutely NO fundamental problems in the real estate market · Has a great selection of homes to choose from, making this a great time to buy-it's like having a clearance sale! I am asking for your help today to begin a public relations campaign in the local press, the national press, with your civic groups, your church groups, and your clients both past and present, to get this vital message out. I will be asking for assistance from the Chamber of Commerce, the City Council, local and national media, the Austin Board of Realtors, and anyone else who will listen. Please, please help us get this message out to the market.