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Is Austin Real Estate Overvalued?

Welcome_To_Austin_Sticker_If you’ve been in Austin for any amount of time you’re likely to have come across the “Welcome to Austin. Please Don’t Move Here!” stickers. There is good reason many local Austinites feel this way, especially homeowners and those looking to buy real estate. With Austin appraisal values rising, and property taxes along with it, it’s not hard to understand the sentiment.

According to Jed Kolko, the head economist on Trulia, one of the largest real estate websites online, Austin comes near the top of the list for overvaluation of real estate. Other locations on this list include two hot spots in California: Orange County and Los Angeles. Austin real estate prices are considered 10% higher than what would be a fair price on today’s market.

Kolko’s “Bubble Watch” report tracks areas where the real estate market is overinflating just as they did before the 2007 housing bubble burst. These bubbles, which saw home prices up to 24% over fair market value, and their eventual collapse were a major trigger for the global economic recession we are still struggling with. He states that several markets in Texas, California and Hawaii are following the same pattern of real estate inflation as seen before.move-to-austin

Where else are these real estate micro-bubbles forming? San Antonio and Houston in Texas, Oakland, Riverside-San Bernadino and San Franciso in California and Honolulu, Hawaii are experiencing real estate prices 4-7% over value. Kolko’s methods of figuring out these bubbles take into account long term trending prices, price to income and price to rent ratios of the areas.

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Austin neighborhoods we appraise

We provide real estate appraisals and related services to the following cities, towns and communities across the Austin metro area. We cover a large portion of Central Texas - if you don't see your area below, please call to confirm with one of our friendly staff.

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Anderson Mill | Bee Cave | Briafclif | Brushy Creek | Buda | Cedar Park | Creedmoor | Del Valle | Elgin | Georgetown | Hays | Hutto | Jollyville |
Jonestown | Kyle | Lago Vista | Lakeway | Leander | Manor | Mustang Ridge | Pflugerville | Point Venture | Rollingwood | Round Rock |
San Leanna | Shady Hollow | Sunset Valley | Webberville | Wells Branch | West Lake Hills

what customers like you say about our
Austin Property appraisal services

We stand behind our work and our customers have nothing but great things to say. Here are a few examples:

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Real Estate Appraisals Austin
4.8
Based on 45 reviews
Ed came out on short notice to measure a new home I was in the process of purchasing. He was professional and honest in his work. I found him online and it was not through my lender. I wanted an independent appraiser since the lender was connected to my builder. Definitely will use him again if I ever needed to. I was a first time home buyer and he was fair to me and helpful. Thank Ed!
Jennifer Nguyen
Jennifer Nguyen
The realtor that came out was very professional and thorough. I would recommend this service.
Nancy Crow
Nancy Crow
This company is contracted to my mortgage company for market appraisals to remove PMI. They contacted me right away and had the whole thing turned around in less than a week. Appreciate the speed and the quality of the service and would definitely recommend.
Jeanna Kozak
Jeanna Kozak
I was able to schedule an appraisal just two days after contacting the company. Likely this was a fluke, but it worked well for me! Our appraiser was a bit late, but that was the fault of the previous appointment. Once he arrived, he listened to everything we pointed out. Our appraisal was fair for our neighborhood we thought and the report arrived about 8 days after the appointment. We are happy and will recommend Real Estate Appraisals Austin to any others we know.
Leah L
Leah L
We used Real Estate Appraisals Austin and found them to be very professional, accommodating and efficient. Their work product was thorough and very well presented. We would definitely recommend them and would use them again.
Calvin Porter
Calvin Porter