Over the last year I have received more calls from divorcing couples to talk about their options. Here is one thing they often get wrong.

In most cases when a couple is getting a divorce and they own a home with a mortgage it is in the name of both owners. Typically in a divorce the property goes to the husband or the wife. The person who isn’t keeping the property will sign a deed to remove them from the property.

The problem is the mortgage is still in both names and the mortgage company doesn’t recognize that deed removing you from the liability. The only way to remove yourself is by including in your divorce decree the other owner has to refinance the mortgage or the property should be sold.

Many divorces are amicable. Things may be amicable…

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Sometimes I’ll hear someone saying they want a “hungry agent”. In reality hiring a hungry agent is your biggest risk in this market.

The number of homes in our area being listed and sold is down about 30%. Realtors are leaving the business left and right because there aren’t enough homes for everyone. If you’re looking for a hungry agent you will have a lot to choose from.

What you don’t realize is how much that will hurt you. When listing your home, the biggest risk you have is hiring someone who will tell you what you want to hear so you hire them. When an agent is that hungry you have to wonder if the advice they are giving is benefitting you or them.

I recently had a buyer’s agent on a sale tell me she personally needed that deal to…

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Lance Lambert, real estate editor at Fortune Magazine, called Austin the most interesting real estate market in America.

Prices went up like a rocket and came back to earth, but still up 43% since March 2020. Some people can’t get over missing out on timing the market. The truth is few people did because even those who sold at the top had to buy in the same market at the top.

If I told you in March 2020 your home would be worth 43% more in 3 years you would have been over the moon happy about that. If you’ve allowed yourself to get stuck because you missed out on the peak perhaps a change in perspective to thinking about how much better off you are than 3 years ago will help you get unstuck. Otherwise using 2021 and early 2022 as your baseline…

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Does the school tax ceiling transfer when a person who is age 65 or older or is disabled or is the surviving spouse (age 55 or older) of the individual moves to another home?

A percentage of the school district tax ceiling may be transferred.

The ceiling on the new residence homestead would be calculated to give you the same percentage of tax paid as the ceiling on the original residence homestead. For example, if you currently have a tax ceiling of $100, but would pay $400 without the ceiling, the percentage of tax paid is 25 percent. If you move to another home and the taxes on the new residence homestead would normally be $1,000 in the first year, the new tax ceiling would be $250, or 25 percent of $1,000.

To transfer the school district…

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About this time last year we saw interest rates increase at a rate never seen before along with a dramatic increase in the number of homes on the market. As a result, buyer demand dropped off the cliff which caused prices to fall around here almost as much as anywhere in the country. Of course, our prices had gone up so much we had farther to fall.

Many buyers, especially those influenced by social media predictions, held off buying thinking they could wait for prices to crash like in 2008.

Instead of seeing a 2008 crash, this spring has seen a resurgence in buyer demand. It appears buyers have gotten used to interest rates in the 6% range and have realize we aren’t going back to 3% rates any time soon and likely not forever.

In addition, we have…

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It’s hard to believe, but summer is already around the corner. Here in the Austin area, our home-selling “season” kicks off in spring and reaches its peak in the summer. It’s our busiest time of year, although this year things will be a little different.

With interest rates up, demand has slowed compared to last year. Prices remain high and sellers still have the upper hand, but buyers have a bit more leverage and homes are taking longer to sell on average. This season, homes that are attractive to buyers and marketed aggressively will sell fast and high. Here are the strategies we’re using to position our summer sellers for the best result possible.

I have to give myself a little grace here because I haven’t gotten much sleep lately and I’ve…

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After 497 people told me they were going to wait to move until the market is good again, I realized I wasn’t doing a good job. 

You see, I am a “Professional Mind Maker Upper” and people count on me to consult with them so they can make the best decisions for their lives and their families. There’s a saying “Garbage in and garbage out” meaning if you don’t use accurate information, you won’t make good decisions. I was letting people use bad information without taking the time to ask more questions and explain some of the data that’s available about the real estate market. 

I have to give myself a little grace here because I haven’t gotten much sleep lately and I’ve changed a lot of diapers over the last few months so it’s possible I simply…

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I'm primarily a listing agent so I'm seeing buyers every weekend at our open houses. I'm also talking to agents and I'm seeing the offers that they put in every day. These are the four mistakes that I'm seeing buyers make in March of 2023.

Making Bad Offers

The first mistake I'm seeing is putting in “bad offers”. What I mean by that is a lot of buyers are out there and they're thinking they're going to make low offers. And you know what? A lot of sellers are actually negotiable right now.

Sellers are willing to come down on their price if they see that it's a good deal and you're a solid buyer. However, I've noticed that many buyers are submitting offers at a low price with unfavorable terms that are unrealistic to both myself as a listing…

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Determining the list price of your home in the Austin area is a delicate balance that involves taking into account a variety of factors. The perfect balance can be achieved by considering the following:

  1. Comparable Sales: Researching recent sales of similar homes in the area (comparable sales) can provide a good starting point for determining the list price. This will give you an idea of what similar homes in the area are selling for and can help you set a realistic price for your own home.
  2. Home Condition: The condition of your home is also an important factor to consider when determining the list price. A well-maintained, move-in-ready home will generally command a higher price than a home that needs repairs or updates.
  3. Market…

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Early indications are the Austin area housing market is heating up again for the spring.

Each week we get a slightly better view of the 2023. Of course, in between when I am writing this on February 2nd and when it hits your mailbox things may have changed so get in touch with us to find out exactly what’s happening at that time.

Here are some of the early signs of a stronger real estate market this spring.

Open Houses And Showing Activity

We had 24 guests at our first Open House of the year which is much higher than I expected. The owners asked for buyers to remove their shoes. Here’s a picture I took of outside the home that shows how many people were inside at that time.

That home went under contract in only 6 days. With the…

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