rennerrealty's video: Austin Property Values Remain Strong -- Looking To Buy or Sell Call Text Kenn Renner @ 512-423-5626

Austin Real Estate Expert Kenn Renner Explains The Resilient Austin Real Estate Market. Contact Kenn Renner Call / Text at 512-423-5626 Email kenn@buyaustin.com With the state of Texas reopening, Kenn Renner talks about the resilient Austin real estate market. Episode Highlights 03:20 Kenn shares statistics from the Austin Board of Realtors revealing the resilience of the Austin Real Estate Market Austin-Round Rock MSA stats - Median sales price went up 11% since last year and is now $335,200. - The average days on the market went down by eleven days and is now 54 days. - Closed sales went up 2%. - Months of inventory dropped by 0.7 month(s) to the current 1.6 months, which is the lowest ever. We have an extreme housing shortage, and this will force many potential homebuyers to rent instead of buy. City of Austin March 2020 stats from the Austin Board of Realtors [04:26] - Median sales price went up by 14% from last year and is now $415,000. - Months of inventory is at 1.2 months, down by 0.5 month(s) from the previous year. Austin is still the fastest-growing big city in the nation [05:26] Over 150 people a day move to Austin. 06:30 Kenn reveals why you should invest in Austin real estate. He compares a $1.4 million house in SF Bay Area vs. Austin, Texas In the SF Bay Area, the $1.4 million home has three bedrooms, one bathroom, 1,100 SF. In Lake Travis, Austin, Texas, $1.4 million gets you a mansion. 08:38 Kenn discusses the increasing difficulty in qualifying for a mortgage, which is forcing more people to rent. He also explains why the rise of working from home is good for the housing market. Lending criteria are getting more stringent with banks like Chase and Wells Fargo, increasing minimum credit score, and incurring larger down payments, making it harder to qualify for a mortgage. This is great for landlords because, with jumbo loans shut off, people will choose to pay rent. As working from home becomes more the norm, CEOs will look for how to leverage the sudden lack of use of office space. Also, potential homeowners will want to get houses with a nice office. 10:34 Why you should move some of your money from the stock market to real estate - Real estate offers stability: The stock market dropped 30% in one week. In real estate, that doesn’t happen. - Leverage: You borrow, put a down payment, the equity is all yours, and somebody else pays the mortgages - Tax benefits - Financial freedom Contact Kenn Renner Call / Text at 512-423-5626 Email kenn@buyaustin.com