Recently, Economic forecaster, Mark Sprague, provided encouraging stats about Austin job growth, and also the probability that there will be a lack of developed lots in just over a year. Sellers will be cncouraged that the value of their lots should return closer to the prices they had projected. Buyers should recognize that this it the best possible time to buy. If the forecasts come true, we are looking at the end of undervalued lots.
Many individuals and investors have been paying property taxes on lots that should have already sold, but did not, due to the real estate market. Prices were lowered, in order to move the property, but the taxes did not always decrease along with the listing prices. This is very good news.
We see light at the end of that tunnel!! Those who have bought over the past year, will, most likely, enjoy a healthy equity increase in 2012. Those who are considering buying a lot will be rewarded for making their move soon.
