What To Expect From The Housing Market In 2023

The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. In many ways, it’s put the market into a reset position.

Last January I talked about how we needed to watch the inventory of homes for sale and interest rates. As the Federal Reserve made moves this year to try to lower inflation, mortgage rates more than doubled. At the same time, we saw huge jumps in the number of homes for sale. This was a double whammy for the real estate market and had a cascading impact on buyer activity and ultimately home prices.

What’s Ahead For Mortgage Rates In 2023?

Interest rates shot up to over 7% and as of the end of 2022 have settled back closer to 6%. Moving forward, experts agree it’s still going to be…

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It's Time To Talk

This may be our last blog of the year and I know many of you reading this are making real estate related plans for 2023. If you are, we should talk right now. There are many confusing things happening with both the overall economy and the real estate market and as you make your plans it’s important you have accurate information and you are interpreting what’s happening correctly. I certainly don’t have a crystal ball, at least one that isn’t foggy, but I may be able to point you in the right direction by giving you a few things to think about that will make your plans easier and more profitable. To schedule a time for a conversation, call 512-791-7473 or schedule online at KopaConsultation.com. How Was My Crystal Ball In January?

I thought it would…

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Things Are Getting A Little Spooky...Should You Be Scared?

The other day I saw someone describe the real estate market as being scary.

We are heading towards something nobody has ever been through. There’s never been a time with so many events happening all at once. We have both headwinds and tailwinds for the economy so in near future things are murky. It’s understandable some people will think it’s spooky out there in the real estate market.

Perhaps that’s true in the short term. In the long run the thing I know is people will always be buying, selling or renting real estate.

Part of the reason things seem spooky is with social media there are so many people trying to make a name for themselves or trying to get clicks by promoting that we are approaching doomsday.

Here are some of the things the…

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How To Buy Your Next Home Before Selling Your Current Home

When you are ready to buy your next home there are several ways of doing this without selling your current home first. Let’s review your options.

Qualify For 2 Mortgage Payments

It is possible to obtain a mortgage on a new property prior to selling your current home as long as you can qualify for both mortgage payments. This will allow you to buy and possibly move into your new home prior to putting your current home on the market. Many of our clients take this option and we are able to stage the home we are selling so it doesn’t look empty.

Buy Contingent On The Sale Of Your Current Home

It may be possible to get an offer accepted on a new home and have that offer be contingent on selling your current home. Our success in getting…

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3 Important Things You Should Know About Mortgage Interest Rates Today

If you have been shopping for a home there are 3 important things you should know about mortgage interest rates today.

Fed Raised Rates And Mortgage Rates Went Down

You probably heard the Federal Reserve raised interest rates .75% in July. The Federal Reserve does not control mortgage interest rates. It seems counterintuitive, but when the Fed raised their rates mortgage interest rates actually went down. Mortgage interest rates had been over 6% back in June. As of August 2nd, we were seeing quotes for 30 Year Conventional rates near 5%.

Jumbo Rates Are Lower Than Conventional Rates

In the Austin area the loan limit for Conventional mortgages is $647,200. If you are borrowing more than that you would be getting a “Jumbo” mortgage.…

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Avery Ranch Fireworks 2022

The Avery Ranch fireworks show for 2022 has been cancelled.

For more information contact the Avery Ranch HOA.

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Perspective And Real Estate

Avery Ranch & 78717 Real Estate Update

Let’s review the 78717 and Avery Ranch real estate housing market statistics for May, 2022. The number of homes sold was down 8% compared to 2021. Homes sold on average for $316 per square foot, up 16% over last year. The average sales price increased 14% to $772,180 and the median sales price increased 9% to $720,000.

The home that sold at the lowest price was in Brushy Creek Village for only $286,66. This home was sold off market and entered into MLS as…

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Should You Sell Or Rent Your Property?

Because we have a market-proven system to sell investment properties that have always been a good portion of our business. This year we have been contacted by an unusually large number of investors who are considering selling their investment property. Some of the investors think the market is nearing a top while others have decided being a landlord isn’t for them. If you are thinking about selling your investment property here are a few questions to ask yourself.

Do you want to be a landlord?

I believe successful investors enjoy owning investment properties and they run their investment properties like a business. If you don’t enjoy some of the negative aspects of owning rental properties such as dealing with tenants or having to lease a…

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Your Property Tax Value Is LOW!

Your property tax value is low. I’m Eric Peterson, Owner of Kopa Real Estate. I have good news and bad news depending on how you look at it. Just before you received your 2022 property tax assessment, we already sold a house for $268,000 more the 2022 assessment. To put it in perspective that’s a 38% increase over the 2022 value and we have another home under contract for 42% over the 2022 tax value…and we are only in the first week of April.

That means 3 important things to you right now.

#1. Here’s the good news. Your home is worth a lot more than the tax value and more than you think. If your first thought when you opened your notice of value is that you could never sell your home for that much you will be surprised. Chances are you can…

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Avery Ranch Garage Sale

One of the neighborhood events I look forward to is the semi-annual Avery Ranch garage sale. This event happens in both the spring and the fall. The Spring 2022 Avery Ranch garage sale will take place on Saturday, April 30th, 2022 from 7AM-1PM.

With almost 4,000 homes in the neighborhood there will be plenty of homes selling items. This is a great opportunity to find clothes, toys, bikes and furniture.

If you are having a garage sale at your home feel free to leave your address and a list of items you are selling in the comment section below.

One piece of advice is to get started early. Cars will be lined up at 7AM and the great items will sell right away.

We are Avery Ranch homeowners and real estate experts. If you are interested in…

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65 Offers for 1 Home | Austin February 2022 Market Update

65 offers for 1 home! In this Austin housing market update we’re going to talk about how to get 65 offers on your home, the most recent real estate statistics for Austin, Texas, rising interest rates and what all this means for you as a buyer or seller of real estate in the Austin area.

First, let’s review the statistics for the January, 2022 Austin real estate housing market.

The number of homes sold in January, 2022 was 2,116 which was down 11.83% from 2,400 sales in January, 2021.

The average sold price in January, 2022 was $578,554 which was up 25.84% from $459,760 in January, 2021.

The average sold price per square foot in January, 2022 for Austin was $292.83 which was up 26.3% from $231.72 in January, 2021.

The median sold…

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