Real Estate Market Bubble

When I was little, despite missing two Easters in a row (chicken pox twice- seriously), I still believed in the Easter bunny. I also spent many years of my life preparing cookies for Santa, Lego houses for the Tooth Fairy (don’t ask), being scared of Alligators under my bed (again, don’t ask), avoiding cracks in the sidewalk, and even watching the skies for any saucer shaped object watching for a possible streak of light to follow!

All of those mythical things I spent time worrying about were all for nothing, and as each legend dematerialized before my eyes (regardless of what he says- dad told me he shot the Easter bunny, Santa got stuck in the chimney, the Tooth Fairy was broke and that aliens only existed if you did drugs), I became disillusioned. I was irritated that people around me went to such great lengths to scare me (Alligators under the bed so I would stay put) or prepare me for events that benefited them (watching dopey kids hunt for dairy products in the yard every spring- what a laugh)! I learned from those things and came into adulthood, slightly jaded and overly analytical.

Like Santa, the “Austin Real Estate Bubble” we hear about “bursting” from poorly dressed local anchors is all smoke and mirrors. Perhaps markets like Schulenburg, Texas or Clovis, New Mexico suffer stagnant markets while the east side of Atlanta, Georgia and Hollywood, Florida simply fail so miserably. All four cities are examples of markets irrelevant to Austin yet, they are taken into account when the national news anchors rant endlessly about the “bubble burst.” Austin isn’t a bursting bubble, it doesn’t pay children for rotting teeth, nor does it break your mother’s back when stepped on. Austin’s market is doing better than ever- look at any Austin Real Estate blog which will bore you with nothing more than charts about said successful market statistics (or “stats” if you’re cool). So please- stop worrying about the “bubble” in Austin- it isn’t in the near future, but if it gets close to becoming a reality (think believing in saucer shaped objects in the sky), we will most certainly let you know!

The Carpet Angel Phenomena

When my husband and I were dating and he was a new Real Estate Agent practicing apartment locating, we loved “previewing” apartments around town. This involved picking the fanciest, most expensive apartments that had just been built and going on tours so we could get to know the products we intended to promote.

We lived in far North Austin in a gorgeous apartment we had no intention of moving out of, but for “business sake,” we drove all the way to Southwest Austin to see a new property. When we walked into the elaborate lobby, I anticipated the glittery blonde in a suit to offer us champagne. Well, we didn’t get champagne, but we were taken via stretch golf cart (oooh la la) to an apartment that would suit our “clients.”

We strolled up the steep stairs which immediately turned me off, but when we entered the 900 square foot apartment, we were in love! Centered around the kitchen, the bedrooms flowed together and angels sung as we immediately pictured how our new sofa would look in the living room with the view and what walls we would paint and oh, where would our 6” mirror go? Obviously, we broke character and my boyfriend (now husband, keep up!) literally threw himself down on the floor with a face-stretching grin in the master bedroom and did a carpet angel where the bed would be placed. The bubbly blonde figured out that we too would consider living there and wouldn’t it be great to show clients a stylish, furnished apartment?

I call this the “Carpet Angel Phenomenon.” I am a researcher through and through and when apartment hunting would drive even the most patient person crazy by my desire to see EVERY apartment on the market. But, had I not assumed I could find a suitable home on my own (and seen that apartment first with a skilled professional), the “Carpet Angel Phenomenon” would most certainly have taken place, removing any need for future shopping. So, if you’ve asked your REALTOR to show you “just one more,” you either haven’t found your Carpet Angel moment, you are overly analyzing and self-doubting, or your REALTOR has not listened to what you want. I hope that soon, the “Carpet Angel Phenomenon” gets you!

My Two Cents,
Austin Realtor's Wife

And yes, that is a picture of our very own dog!

Why Austin is SO COOL

What is so cool about the Austin Real Estate market is that it’s like an appetizer sampler plate. If you can’t decide between spicy Miami, cool ranch Kansas City, or relaxing margarita Del Mar, Austin is a great choice. When you don’t want any one particular flavor but an infusion of ALL tastes at once, spend 20 minutes driving around Austin and you’ll know what I mean! Down South is the SoCo district with their hot new condominiums sprouting from the ground like iris bulbs. Drive central to the revitalized 6th and 5th streets with live music and sexy Austin lofts. Getting north of town brings you to huge oak trees and patio dining at the Arboretum.

What else is cool about Austin? The real estate market bubble is non-existent… while news anchors nationwide bark about a bubble bursting, Austin sits back and has another mojito. A bubble burst is as foreign a concept as putting a 7-11 hot dog on your awesome sampler plate (although I will confess to loving gas station hot dogs, they just don’t go with the wildly amazing flavors already on the plate)!

This morning I read on the Single Pointe Realty blog about pricing in Austin and where we stand. Pricing is creeping up to where it should have been in the first place, into the range of the market’s true worth. We aren’t headed for an astronomical surge in pricing, but they are inching higher and higher. The good news is that this strengthens our market even MORE while other markets (Detroit’s market ringing any bells….?) slip into a weaker position.

That Real Estate Guy gives great advice to people in the market to get OFF that wobbly fence and go for it! Prices aren’t going to go back down and people shouldn’t procrastinate their way out of a house. As for me and my sampler plate, I’ll happily take more salsa and a mojito- cheers!

That's my Two Cents,
Austin Realtor’s Wife

*****SO, what is YOUR market like? Spicy, Tangy, Mojito-ish? :)

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Sometimes our job as a spouse looks easy, but just try telling a non-REALTOR-spouse (NRS) what an evening is like- blackberries, treos, instant messaging, texting, emails and endless phone calls cloud the air, but WE are a tough bunch- we smile and jot down any helpful information, right?

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