Jim Nyquist Urges Austin Home Owners to Take Advantage of Seller’s Market

Central Texas real estate industry has recently switched from a buyer’s to a seller’s market. Austin-based real estate expert, Jim Nyquist, is urging home owners to take advantage of the increased demand for homes.

Austin, Texas (I-Newswire) May 30, 2012 - A recent article from the American Statesman in Austin, Texas analyzes the recent upturn in real estate sales in the past few months. In April, sales in the five-county region of Central Texas have increased 16 percent when compared with the April 2011 statistics. Not only have sales increased, but they have also been above listing price. While the region was previously experiencing a buyer’s market, the article indicates that the demand for homes in the Austin area will only lead to a greater market for those selling homes. Jim Nyquist, who has taken part of many real estate ventures in Austin, says that this trend marks a great time especially for house-flippers.

“If a person who flips homes for a living purchased homes during the ‘buyer’s’ period, they may have ended up discouraged,” Nyquist says. “However, if they have used that time to properly improve the homes, than they may experience a great profit if they sale in the next few months.” He cites that the real estate market can in fact be a gamble, and with the increased rates of foreclosures in recent times, it can be a discouraging business. “It is moments like these that prove that it is well worth putting forth the effort.”

The Statesman article gains insight from real estate agents in Austin who have analyzed and witnessed the situation first hand. They note the many causes behind this change in home sales. For instance, lower rates of unemployment have caused a boost in jobs and population growth as people move to Austin to take new jobs. Other buyers want to take advantage of these prices, before they escalate any further.

Whatever the case, realtors in Austin are noticing a very tight supply of homes. The demand is so high that some agents are receiving offers not even 24 hours after the house was listed. Redfin real estate analysts have found that “Austin recently tied with Washington for the area with the largest percentage of homes selling in three days or fewer.”

The article states that more home owners might be encouraged by this trend, which could help alleviate increased prices. However, Jim Nyquist has recently worked with some home owners who are still wary to sell. “They tried before, and after many months on the market, they never received any offers worth accepting,” Nyquist says, “These situations are more personal the entrepreneurial house-flippers I consult, but nevertheless, it is still a great time to sell.”

ABOUT:

Graduating from Minnesota State University – Mankato, Jim Nyquist has become a real estate expert with a career that has lasted nearly four decades. Only 59 years old, Jim Nyquist has become a respected voice in house-flipping, short sale opportunities and foreclosures. His services are available to those in the Austin, Texas area.