It’s no secret that Presidential Election years are hard on the real estate market, even here in Austin. We continue to see this trend this year.
It is as if we are all holding our breath, waiting for the final electoral tally on CNN, KXAN, and the other top news sites as if it has some effect on home prices.
Markets outside of Austin may be impacted slighly, but here in the ever-strong market of Austin, Texas our bated breathes do not translate to money saved when buying a home.
In fact, when you do submit an offer during the weeks leading up to an election, you are unlikely to have your offer met with competing offers, which could save you money. Add those savings to the savings of the slow downs we typically see with election years and to the savings we are seeing in Austin currently, and deals are all around us!
The fact is, neither candidate is going to do anything, especially not immediately, that will have any major effect on our local housing market.
Buyers waiting for the bottom of the market to show will be dissapointed when it never arrives here in Austin’s steadily growing economy. Austin is consistently ranked #1 as the best place to buy a home with the best home values, still for those of us who have grown accustomed to the strong local economy panic over national news (and they are in the business of selling news by the way, not offering facts).
Now is still an excellent time to buy with the best values we have seen in (arguably) the best market in the country!
April 1, 2008
