Tagged : eric peterson RSS Feed

Found 55 blog entries tagged as "eric peterson".

 

Let’s get into it and talk about the most recent sales statistics for the Austin real estate housing market. In May there were 4,033 sales which is up 40.5% from last year. This is a misleading statistic. Of course, we know last year many sellers held off putting their homes on the market and so the number of sales from last year was artificially low. If you look at the last two years the sales in May were essentially flat from May, 2019.

The pending number of sales was down 33.8% from 4,370 in 2020 to only 2,895 homes under contract in May, 2021. That will probably mean when we get the final statistics for June sales those numbers will be well below last year and many of the headlines will talk about how the sales market is dropping,…

81 Views, 0 Comments

 

If you talk with anyone who has been trying to buy a home you will hear stories saying it’s almost impossible. It is hard, but most buyers are making the process much harder on themselves by taking an approach that has very little chance to succeed.

I only take on a very small number of buyer clients, but I talk with dozens of buyers ever weekend at our open houses. Between talking with all those buyers and seeing the offers we receive on our listings here are some of the big mistakes that will prevent you from ever buying a home in the Austin area. I feel bad for those buyers and so I thought I would talk about a few things I see buyers doing and explain why they are causing you not to be able to buy a home.

Focus On The Small Things

138 Views, 0 Comments

 

That seems like a silly question to ask but every day home sellers decide to sell for less.

In April I was having lunch with a friend at The League in Avery Ranch. My friend said the real estate market must be hot because his neighbor didn’t even need to list his home and they sold it off market for $900,000. He was surprised when I said his neighbor could have sold it for at least $200,000 more if they put it on the market.

You can’t blame most home sellers for not keeping up with real estate prices. In many cases homes are selling for significantly over recent comps that sold only a month before. We are in an area where the demand is higher than the supply and it can be unpredictable how much someone may pay for your home.

That’s why…

217 Views, 0 Comments

If you listen to the media or friends your impression of the real estate market is that every home will sell no matter what you do. You’d also think your home will sell for the same price regardless of the condition, marketing or Broker you hire. These are some of the biggest lies in real estate today. Sometimes I think people believe the government is putting a limit on their home and you’re only allowed to sell it for $600,000 regardless of what they do.

"We took a home that didn’t sell at all with another agent and now it is under contract with multiple offers for way, way, way over asking price."

I sold the home next to 15804 Dink Pearson last year. The owners of that home had hired another agent to sell their home but it didn’t sell. After…

112 Views, 0 Comments

 

People often ask me what I would do in their situation. We just bought a home 3 weeks ago. My wife found out a Realtor was selling his own home off market. It turns out it is the exact home we had been looking for. I’m a very analytical person, probably like many of you watching this video. Analytical people have a tendency to be indecisive. Because I recognize I can be too analytical I force myself to be more decisive. We had already decided this was the type of home we wanted to buy. Before this home became available, I had thought about what I hoped to buy a home for and the maximum I would pay. That allowed us to decide quickly to make an offer and get it accepted before it hit the market.

One of the challenges many buyers have,…

290 Views, 0 Comments

 

Greater Austin Housing Report - March 2021

When people ask me if they should sell their home I say “Only if you want to sell it for more than it’s worth.”

The best way I have found to describe what’s happening in the Austin real estate market is to compare the value of your home to an ice cream sundae. Think about your home’s value being 3 scoops of ice cream. That’s what it should be worth.

However, because we are seeing the number of active listings being down 78% from a year ago buyers are more and more desperate. We are seeing buyers lose out on 6,7,10 homes and getting to a point of desperation they throw a ton of extra money at the next offer. This desperation is like the whipped cream and cherry on top of the ice cream sundae.

483 Views, 0 Comments

 

The Williamson County Appraisal District just mailed out the Notice of Appraised Value for 2021. Look for your notice in the mailbox or search your address on the WCAD website.

Prepare yourself before you open the envelope because you are going to be shocked by the value. Especially for those who own rental properties with no Homestead Cap you will see huge jumps in the value you will pay taxes on this year.

When you see your value if you think to yourself “If someone would pay that much for my home, I would sell it” let me tell you something even more surprising…Your tax value is probably $125,000 or more below what your home can sell for in today’s market. That’s a conservative estimate because there’s a home we will be selling that I…

171 Views, 0 Comments

 

Because we offer free home staging and help coordinate make ready for landlords our company attracts a large number of homeowners who call when they decide to sell a rental property. This year more than ever we are getting calls from landlords who want to sell properties with a tenant living in the home prior to the lease ending.

Why Are Landlords Selling?

With the eviction moratorium landlords are concerned about tenants not paying rent. We have had several landlords contact us who are ready to throw in the towel because despite not getting rent they still are required to pay property taxes, insurance and make repairs. Several others are selling because the tenants won’t move out after their lease has expired and they have been given…

535 Views, 0 Comments

 

I’m going to review some of the important housing statistics for the Austin real estate market for February 2021. 

Before I get into the stats there are a couple things I want to talk about. Because real estate prices have been appreciating rapidly when I talk with sellers some will often make statements starting with “The market is so hot that XYXZ.”

"The market is so hot I can sell off market."

"The market is so hot presentation doesn’t matter."

"The market is so hot the Broker I hire doesn’t matter."

It’s as if there has been some government executive order that says you can only sell your home for $600,000 no matter what you do.

In reality, we are seeing sellers sell off market telling me they sold for $50,000 above the…

469 Views, 0 Comments

  

 

If you own a home you probably have looked at some type of online home value estimate. Even I like to look at mine as a curiosity to see how far off they are from reality.

I’m the type of person who orders the exact same meal every time from restaurants so I own 2 of the EXACT same houses right around the corner from each other.

Here are the online home estimates I received on the same day for the 2 homes. These homes are exactly the same with a $36,000 difference is estimated value. How can this happen? I have no idea. The homes are the same size, same finishes, same builder, same floor plan, same schools with the same neighborhood amenities.

        

I can’t explain the $36,000 difference with these homes. In general, we don’t…

588 Views, 0 Comments