Austin's competitive housing market

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by Belo Content KVUE

kvue.com

Posted on May 27, 2012 at 10:13 PM

Updated Monday, May 28 at 10:33 AM

Austin's economy is recovering and with it--the housing market.
 
Now, Austin homes are going for prices even higher than market value.
But the housing market in Austin has gotten so crowded, potential home buyers are entering bidding wars looking for that perfect home or apartment.

Cyndy Stewart with Redfin Real Estate says she hasn't seen a market this competitive since 2000.

"We had people lined up in droves zero days on the market," Stewart said.  "We're starting to see that again. I'll pull up to any home to show it, and there will be four or five buyers ahead of us in que."

Stewart says buyers are having to bid $3000 to $5000 over the asking price to secure some of these homes on the market.
Her tip to buyers to seal the deal--- don't ask for concessions or repairs.

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