The Austin Business Journal wrote a great article about why so many California companies are choosing to relocate to
the central Texas area. Overall, there are many deciding factors (high taxes, difficult business regulations, commute times, etc.), but overall many of the CEO's are looking at the quality of life their employees are receieving living in CA versus TX. The article shows that the typical home value in Austin is apx $435K, where in the Bay area, the number is astronomical at nearly
$1.4 million, practically A MILLION DOLLARS MORE!
So-what does this mean for us Austinites?
Well- it's a great time to be a home owner, but with all these new companies bringing in their employees by the truck full, it does't leave many options for our renters or first time home buyers.
This past month, my mother, Pat Vincent (Realtor with Coldwell Banker), has been in a fighting battle to have the winning bid on the very few homes on the market. With this low inventory, buyers are scrambling offering in some cases over $100,000 in asking price and still not getting the contract. Most recently, Pat was in an all time (for her) record high competition with other agents of home buyers...within a matter of hours, one listing had over 125 offers.
So to reiterate- there are many reasons CA folks are moving here as fast as they can, so if you are considering selling and making a move outside the desirable Austin area, your home has likely never been worth more and I would love to help make that transition as profitable as possible by offering FREE STAGING when you list with Pat Vincent!
To check out more of the great article by Kathryn Hardison, check out the Austin Business Journal website.