“Last month, economists predicted an upwards of 5 percent growth in median home prices within the Austin area, and we have far surpassed that,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “This is especially evident in local markets where housing demand is strongest, such as Austin and Cedar Park. Home price increases are sharpest in these markets, while dwindling housing inventory in the lower price classes could be discouraging people from buying.” In the Austin-Round Rock MSA, home sales increased 5.7 percent year-over-year in February 2018 to 1,955 sales. The median price of single-family homes increased 3.6 percent to $299,900. Housing inventory remained flat at 2.0 months, the same as last February. “While wages and jobs in…
When you’re selling your home there are all kinds of things you can do to prepare your home for a showing. Some are complicated and expensive. Others are simple and easy. The good news is the most important things you can do are quick, easy and inexpensive.
Turn On The Lights The most common objection we get from buyers about any home is “It’s too dark.” After all; who doesn’t want a bright, cheerful home? When buyers enter your home their first impression will be what they remember. Do you want the buyers to remember your home as being bright or as being dark? If your home is being shown buy a buyers agent it will take them a long time to fumble around your home to turn on the lights. If they are in a hurry they won’t bother turning on the lights…
How To Buy A Home In Austin With Less Stress In 2018
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The Austin Board of REALTORS® (ABoR) first market analysis of the year shows steady increases in single-family home sales despite limited inventory, signaling a strong housing market for 2018, according to the January 2018 Central Texas Housing Market data report. The solid single-family home sales growth is constant throughout the Austin-Round Rock Metropolitan Statistical Area (MSA) as is the inventory crunch.
In the Austin-Round Rock MSA, the median price of single-family homes increased by 3.6 percent year-over-year in January 2018 to $290,000. Home sales increased by 8.5 percent to 1,655 sales, citing continual demand. Housing inventory of single-family homes in the Austin-Round Rock MSA stayed at 1.9 months of inventory, the same as last…
When selling your home it’s tempting to overprice your property. Of course selling your home for the most money is the goal of most people. However, what we have found is much like a baseball player who swings for the fences you are more likely to strike out than hit a home run by significantly overpricing your house.
A great example of what can happen to a seller that overprices their home recently played out in our neighborhood.
Last summer we were hired to help a couple sell their home. We suggested they price their home at market value, which was $485,000. After being on the market for 3 days we received 2 offers for the home and settled on a price of $486,500. We were also able to negotiate a free 2 month leaseback for the sellers to stay in…
The 2018 HBA Housing Forecast provided US and global economic statistics and outlooks from UT Economist Dr. Greg Hallman, local economic factors and forecasts on housing from 360 Analytics’ Eldon Rude, and insight into the constantly evolving consumer from Kantar Future’s Lindsay Kunkle. Below are some takeaways from the conference, held at the AT&T Center on the UT campus on January 31, 2018.
Global and US Economy
Dr. Greg Hallman gave some statistics of what overall seems to be a healthy economy that is back to “full potential.” He predicts GDP growth of 2.5-3% in 2018 as we continue this long (101 month) period of expansion. That optimism is provided by the low unemployment rate across all levels of education, wage growth (although slow is outpacing
Every year in January buyers will tell us they are not in a hurry and will wait for their lease to expire later in the year.
This strategy will be a mistake this year for 2 reasons.
#1 – Rising Interest Rates
Interest rates are up almost .5% since January 1. Last week I attended a presentation from an economist who predicts interest rates may be over 5% later in the year.
#2 – More Homes Will Be For Sale Earlier This Year
Smart sellers are watching what’s happening with interest rates and are pushing up the date to list their homes. A real estate rule of thumb especially for larger homes has been to list after spring break. This year we are seeing more larger homes listed in January and February.
What that means is if you are…
How To Sell Your Home With Less Stress & For Top Dollar In 2018
Attend our FREE Home Selling Seminar to help you get the most money and get your home sold fast.
In only 1 hour learn tips from the top Real Estate Broker in the Austin area. Learn inside secrets from a real estate broker who specializes in selling homes in your area so you can sell your home fast, easy and put more money in your pocket. Reserve your seat and learn:
- How to buy and sell without having to move twice.
- How to defend against the negotiating tactics used by buyers in our area.
- How to prepare your home to attract the most buyers and get the best price.
- How to price your home so you don't leave money on the table.
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But, that’s not how real estate works. In general a smaller home will sell for a higher $/SF. I’ve always had a hard time explaining that until I was meeting with a couple at the neighborhood coffee shop.
We each had a different size cup of coffee and each cup had a different price. You can see the smallest cup of coffee cost $.32 per ounce. The last 4 ounces for the largest cup only cost $.12 per ounce. The larger the cup of coffee the lower the cost per ounce.
Smart home sellers try to maximize every dollar they can out of their home when it’s time to sell. Conventional wisdom says you will get the highest price for your home in the spring/summer market compared to other times of the year. Many home sellers hope there is a magic day to list where their home will be worth an extra $20,000 than it was the day before. However, the real estate market in the Austin area isn’t as seasonal as you may expect.
As evidence we sold the highest priced home this year in 2 different neighborhoods in November and December. Both were large 5 bedroom homes, the type of homes conventional wisdom would say can only be sold in the spring/summer market.
There is also a belief that there is a huge influx of relocation buyers in the…