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In Terms of Appraisal, Austin Values Are Stable

AUSTIN-The stability of real estate values doesn't mean there aren't any concerns about the marketplace. Austin's chief appraiser recognizes the problem areas, but says it's still a better scenario than the downturns of yesteryear.

By Tim Green | Updated on April 24, 2002

AUSTIN-The value of commercial property in Travis County has held the line despite a steady drumbeat of bad economic news for the area, according to Art Cory, chief appraiser of the Travis Central Appraisal District.

The stability doesn’t mean there aren’t concerns, Cory tells GlobeSt.com. “We recognize, at least in some areas, that office vacancy is up for the obvious reason that companies have gone out of business and layoffs,” he says. “But certain segments such as downtown and southwest, those level of values seem pretty strong.” New buildings have gone up in those submarkets, which could boost their values.

Cory draws his conclusions from a review of the data from the district’s appraisals, but doesn’t have specific figures. The district has sent property owners the annual notice of their 2002 values, which were made from sales and appraisals made in 2001.

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