Kopa Real Estate Blog

5 Things To Think About Before Renting Your Home In 2024

When it’s time to move you might think about renting your home Because we sell so many homes that were turned into rental properties, we’ve gathered insight into some of the things homeowners don’t think about before converting an owner occupied home into a rental property.

Do You Want To Be A Landlord?

I’m always willing to help anyone I’m always willing to help anyone look at the rent vs sell figures so you can make the best decision for yourself. But before we get that far I will ask you if you really want to be a landlord and if you didn’t own the home would you buy it as an investment property.

I will also ask “Do you like working with people? What will you do when the rent is late? Would you be willing to evict someone? How will you…

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Why Are So Many Contracts Being Cancelled?

A record number of real estate contracts were canceled in July.

This year we had 2 contracts terminated, but in both cases, the buyers came back around and we put the deal together. I suppose that was like getting divorced, finding out you can’t do any better, and then getting re-married to your ex.

I’m going to consider us undefeated this year. Don’t jinx us!

Why are so many contracts being canceled? There are several reasons…

1. Buyers are taking in more and more information and getting advice from their family and friends.

• I heard a story from a home seller that their home was under contract. Then the buyers’ parents came to visit and told the buyers they shouldn’t buy the home. The buyers cancelled the contract.
• Given all the…

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Should I Stay Or Should I Go?

I’m not talking about the classic 80’s song from the London band The Clash.

Instead, this is a question I get asked by homeowners 2-3 times per week. For the most part it’s not a real estate question, but I thought I would share some of the things I would think about if I were asking that question myself.

The Part That Is A Real Estate Question

If you ask me if you should stay or go, I think what you’re really asking is if you decide to move today and sell your home will you miss out on a huge home price appreciation that’s coming right around the corner.

It’s understandable to have some anxiety about that because who would want to miss out on you home being worth 20% more next year?

Nobody would like to…

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What Is Going on with Mortgage Rates?

You may have heard mortgage rates are going to stay a bit higher for longer than originally expected. And if you’re wondering why, the answer lies in the latest economic data. Here’s a quick overview of what’s happening with mortgage rates and what experts say is ahead.

Economic Factors That Impact Mortgage Rates

When it comes to mortgage rates, things like the job market, the pace of inflation, consumer spending, geopolitical uncertainty, and more all have an impact. Another factor at play is the Federal Reserve (the Fed) and its decisions on monetary policy. And that’s what you may be hearing a lot about right now. Here’s why.

The Fed decided to start raising the Federal Funds Rate to try to slow down the economy (and inflation) in…

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HOW’S THE MARKET SO FAR?

By Eric Peterson

Since real estate is really a 10 month a year business, we are halfway through the year and I thought it would be good to give you a quick update. 

As I write this, we have 7 homes listed for sale that are under contract. I’m optimistic, but things are not easy. More than ever when someone asks me “How’s the market?” My answer is DOTS…Depends On The Situation. 

There are some neighborhoods and homes that are selling quickly while others don’t seem to have much activity at all. 

There are also two types of buyers in the market right now. Buyers who want to buy and can buy and buyers who want to buy but can’t buy. This is why we are still seeing large turnouts at our open houses and a high number of online views for our…

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Design Choices Sellers Might Want to Rethink

When it comes to selling a home, it’s crucial to present it in a way that appeals to a broad range of potential buyers. Although personal preferences and social media trends can play a role in home decor, it’s important to remember that what’s fashionable today might not be as popular tomorrow. If you’re working with sellers, our expert stagers, Joyce and Linda, here at Kopa Real Estate, recommend focusing on timeless design choices that can significantly boost the resale value of their property.

Key Points to Consider

• Avoid Personal Decor: While you might be fond of pastel-colored sofas or scalloped furniture, these styles can turn off buyers. Recommend storing such items during showings.
• Stick to Classic Design: Opt for neutral color…

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Quick Tips For Protesting Your Property Taxes

If you are protesting your property taxes here are a few quick tips that may help you be more successful this year. 

They Give You Their Comps

Within your notice of value you should have received a Comparable Sales Report giving you the specific properties the tax office used to determine the value of your home. I often hear of homeowners going to for their appointment without this information. They are showing you their hand and you should be able to use that information to help your argument. 

Removing A Comp May Be More Important

The reason why it’s important to know in advance their evidence is in my own experience demonstrating to the appraiser why a comp shouldn’t have been used gets me more bang for my buck than providing additional…

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NAR Commission Settlement

What It Means And What It Doesn’t Mean

By now I’m sure you’ve heard that the National Association of Realtors announced a proposed settlement to address the broker compensation lawsuits that have popped up across the country. The settlement has generated a lot of media attention and unfortunately a lot of what has been reported is misleading so I wanted to give an explanation of what has happened.

Before I even start, this is a proposed settlement that still needs court approval and none of the changes will go into effect until July at the earliest. However, I do expect it will be approved whether in this format or something similar and we are already putting systems into place to guide our clients through any possible changes and give you the…

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Positive Signs For The Spring Market

I am much more optimistic about the real estate market today than I was this time last year. For our listings that went on the market in January, we had 57% more showings and Open House visitors than last January.

In addition, our listings all went under contract at great prices.

Buyers appear to be more ready to buy today. When interest rates hit 8% last year, the market froze. In that situation, you can’t blame buyers for pausing their home search. When rates are 8%, and there is no indication they aren’t going to keep going up, it’s hard to decide to buy a home.

Today, the expectation is that rates will slowly tick down over the next few years.

Despite my feelings, there are still challenges ahead. Interest rates remain close to…

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Goodbye 2023, Hello 2024! | Austin Real Estate Update January 2024

Hello everyone! I hope you are all doing well. I just wanted to take a moment to wish you all a happy New Year, and to share some thoughts on what we can expect from the real estate market in the coming months.

Looking back on the past year, it's clear that the real estate market has undergone some significant changes. Unlike the uncertainty we faced at the start of 2023, we're now seeing a more positive and optimistic market environment.

In a recent market update, I delved into the current trends and explored factors shaping the landscape. Austin, in particular, has seen a 13.9% decrease from its peak and a 5.5% decline from last year, contributing to a more balanced market.

One significant change is the shift from the intense…

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