Austin Housing Market Doomed in 2024.

The Austin housing market is going through major change in 2024. Here’s a good idea of what to expect in 2024.
#movingtoaustin #homebuying #crash
The Knight Group are a Platinum Top 50 husband/wife Real Estate Team helping over 70 families a year make home ownership a reality. We are passionate about providing each and every client with service more extraordinary than they’ve received.
Schedule a Buyer or Seller Consultation with The Knight Group
512-883-6033
The Knight Group Certifications:
Seller Representative Specialist
Buyer Accredited Specialist
Real Estate Negotiation Expert
Certified Luxury Marketing Homes Specialist
Certified Green Specialist
Contact:
Instagram @jeremyknightKG
[e-mail]
www.austinknighthomes.com
www.theknightgroupatx.com
www.tkgresidential.com

[@ralstonhaley3161]

Those pay increases will not be enough for people to afford homes. Two dollars more per hour will not result in homes being more affordable.

[@JeremyAKnight]

You could be right.

[@user-sj3qz9yo3f]

Jeremy is one of the few Austin RE folks I am willing to watch. The biggest problem is still the over-capacity and the much cheaper rental relative to buy. Despite some agents touting mortgage will go back to sub 5%, I am not seeing it happening anytime soon due to the massive national debt.

[@JeremyAKnight]

Thanks for the praise. I agree. I’ve criticized the community for that. The problem is they heard rates are going down. Which is true, rates may drop. They heard one person say 5% and everyone RnD’s (ripoff and duplicates). Now, being a RE Agent isn’t easy. The barrier to entry is so low. I understand why people don’t like the profession. Yet, to be a producing agent. It takes a lot of work. So, the few that talk about what’s really happening. Listening to the fed waffle. Those who pay attention. Know… rates will most likely end the year in the low 6’s vs. 5’s. The challenge is. What happens to inventory. Jerome Powell said he doesn’t care about home affordability. He said it.

[@ticktock4046]

I live in Cedar Park and I check the renting and buy-sell data around North West Austin very often. I can only see the down trend of this housing market. It's simple. Landlords are keeping cutting the renting prices. A apartment building I used to live in, couple of months ago they lowered the application fee, and offers 500$ off for the first month, now they charges no application fee and 1000$ off for the first month. None of these ever happened when I lived there there before pandemic. And if you go to Zillow or Redfin or any website, just apply some data filters to search the recent sold houses, I honestly cannot find a single house that had NOT cut the asking price. A flat market in 2024? 😂 Good luck with that! Don't blindly believe in the stats, The renting is coming down dramatically anyway. Wait and see the coming panic sells.

[@ralstonhaley3161]

My property tax went down by approximately $600 per year, but I just got a massive increase in my home owners insurance. The increase in insurance more than erased the reduction in property tax.

[@JeremyAKnight]

That’s frustrating!

[@ralstonhaley3161]

@@JeremyAKnight Yes, very frustrating! I was planning to add that extra 50 bucks on top of the 300 extra I pay to reduce my principal.

[@JeremyAKnight]

@@ralstonhaley3161 I didn’t see them go down enough to really make a difference either.

[@user-py6qj6bv2e]

20 percent if not more. Austin will be the epicenter. all the investors are going to be putting a ton of inventory on market because they are going to lose there ...

[@christinacleghorn859]

We need more property tax relief. Austin & surrounding area taxes are absolutely ridiculous! With these rates, the roads should be perfect & schools superior... I suspect wasteful spending as with most governments spending other people's money.

[@rahulcool7270]

Was it Mueller or Cedar Park?

[@JeremyAKnight]

Cedar Park!

[@rahulcool7270]

Awesome!

[@SohlmusicRX]

My wife and I bought a house in South Austin at the peak of the market for $500,000. Now Redfin says it’s worth $400,000 😢 We are getting divorced and need to sell unfortunately. Can you recommend a real estate agent who can help us price it right?

[@JeremyAKnight]

I’m your guy. Shoot me an email. [e-mail]

[@SohlmusicRX]

@@JeremyAKnight awesome, Ill reach out to

[@AgentContentCreators]

❤

[@louielouboogie]

Bring Nick on! 😂

[@JeremyAKnight]

Coming Friday

[@Frenchy80813]

Bring Nick Gurley!

[@JeremyAKnight]

He won’t come on.

[@moatmo3752]

hopium

[@ehren5347]

I want him to come on to Real Migos.

[@JeremyAKnight]

Friday at 1:30

[@ehren5347]

@@JeremyAKnight I also think he's wrong but am curious to hear what he has to say.

[@JeremyAKnight]

We’ll see! Maybe he will be 2 for 2

[@ehren5347]

@@JeremyAKnight I mean it's possible. I have a pretty strong track record but I've been wrong. I just don't see how prices can go down when interest rates go down.

[@JeremyAKnight]

@@ehren5347 I think he could be wrong.

[@professorprofessorson8795]

crash incoming

[@BadBosspodcast]

That’s not going to happen 🙃

[@bassandtrebleclef]

Nope, rates are coming down.

[@user-py6qj6bv2e]

it will come down 20 percent more if not further.

[@dorrisben1]

@@bassandtrebleclef Nope. Rates are not dropping yet...maybe in Q4 because it's an election year...maybe! Prices are gonna have to come down.