Whether your looking for a place to invest in real estate at affordable prices or a great place to relocate free from California’s crowds and high cost of living, Austin Texas may be just the answer. This rapidly growing metropolis is the Capital of Texas and home to the University of Texas. The 300 days of sunshine, gorgeous Hill Country, cosmopolitan flair and outdoor lifestyle combine with a thriving economy, vibrant job growth, and affordable housing to make Austin very attractive for immigration from other parts of the country.
Austin and the surrounding metropolitan areas are currently seeing tremendous growth. Freeways are being built, outlet malls are opening, retailers are coming and businesses are hiring. Money Magazine has named Austin as one of the “best places to live” and a “best place to start a business” and Forbes Magazine ranks Austin number three for “best metro area for business.”
With the explosive growth, many experts believe that Austin real estate will see strong appreciation in the months and years ahead. The housing market ended 2006 with record sales of 26,958, a 10 percent increase from 2005. The year’s average home price increased 10 percent to $235,738.. Single-family homes were on the market for an average of 63 days for the year, the shortest length in four years, according to the Austin Board of Realtors. The number of active listings shrank four percent to 7,830, the smallest number since 2001.
With more and more Americans reaching retirement age, it’s no wonder many are choosing Austin as their home. For California retirees who face paying state income tax, Texas is attractive because there are no personal or corporate income taxes and overall the state has one of the lowest state and local tax burdens in the nation, ranking 45th among 50 states in taxes paid per $1,000 of personal income.
So, whether you’re an investor looking to capitalize on emerging markets outside of California, or are simply looking for that perfect place in which to relocate and begin anew, maybe it’s time to check out Austin, Texas.
For more information, please call 512-634-6453 or email Johnandcathielee@yahoo.com.