Found 66 blog entries tagged as joyce peterson.

 

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. 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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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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Happy New Year Austin homeowners and home buyers. Here are my top 5 predictions for the Austin real estate market for 2022 but first let’s review the real estate statistics covering 2021 for the Austin, TX MLS area. It was another great year for real estate in the area.

The number of sales was down 5.7% to 3,756 sales but up 2.9% sales for the year with 44,871 sales overall.

The average months of inventory remained at less than 1 month. That means if no additional homes come on the market, it would take less than a month for all the homes currently for sale to be sold. A real estate market with 4-6 months of inventory is considered balanced between buyers and sellers so we are still in a strong seller’s market.

The average…

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One of the most frequently asked questions and something that is commonly misunderstood about selling your home is what taxes you will pay. The tax code can be confusing and isn’t always black and white. Hopefully the takeaway from this article is you likely won’t pay any taxes and if you do, they may be less than you expect. If you are holding off selling due to taxes contact me and I can point you in the right direction of how to find out what you will pay based on your situation. In addition, looking at IRS Publication 523, Selling Your Home is a great resource to understand what taxes you may or may not have to pay.

2 In 5 Exemption

If you have lived in your home for 2 of the previous 5 years than you should qualify for the “2 in…

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Because the real estate market has become so competitive many buyers are waiving the right to terminate the contract based on the lender’s appraisal. The appraisal is typically done after the buyer’s termination period has ended. If you are waiving your appraisal contingency you will not be able to terminate the contract and receive a refund of your earnest money if the home appraises for less than the sales price. If you are waiving this contingency here is an explanation of how that might affect the amount of money you will need for a down payment.

Please let us know if you have any questions before making an offer on any property.

Example

Contract price $400,000

Appraised value $380,000

If the home appraised value was…

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Let’s get to the real estate statistics for Austin, Texas. In November, 2021 there were 392,976 Single Family Homes sold in the Austin area which was down 8.6% from 3,256 sales in November, 2020. The average dollars per square foot increased 32% to $272.70. The average price increased 25.1% to $587,380 and the median price increased to $472,490 which was an increase of 30%.

Let’s talk about predictions for 2022. Keep in mind nobody predicted what’s happened in the last 2 years. Probably the only thing we can be sure of is something else is going to happen out of the blue that’s going to completely change everything.

The best advice I can give you for the next 3 months is to buckle up and hold on tight. I’m not saying we are going…

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Let’s review the Austin real estate statistics. In October there were 3,353 homes sold which was down 16.4% from October, 2020. The months of inventory is slowly increasing to 1.3 months from 1.1 last year. This is the most important supply and demand statistic to watch and as we head into the end of the year and January, it will tell us where the market is heading. Keep in mind anything under 4-6 months of inventory is considered a sellers’ market so we have a long way to go and buyers have to be careful not to overestimate the market moderating to mean the market is crashing.

The average sold price increased 20.6% to $555,124 and the median sold price increased 25% to $450,000. This is also an increase from September’s median price…

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Hi Austin area homeowners. I’m Eric Peterson Broker of Kopa Real Estate. Let’s review the most recent Austin real estate statistics.

In September there were 3,437 homes sold which is down 10% from last year.

The average sold price was up 22.7% from last year but down 2% from August.

The median price was $463,000, up 34.2% from last year but down 5% from August.

The average sold price to original list price was 101.4%. That means homes were selling on average for 1.4% over list price.

The average days on the market is 16 days, still down considerably from last year at 39 days but up 2 days from August.

Overall homes are still selling fast and we are still in a strong sellers’ market although not quite…

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 Let’s get to the statistics for August, 2021. We are still seeing huge increases in the year over year statistics. The big story is the huge month over month increases in average and median sales prices has dipped for the first time this year.

As a reminder these statistics cover the entire Austin MLS area. If you’re interested in a particular area you may want to check out one of our other blogs and videos or contact me directly.

Let’s start by looking at the listing inventory numbers. In August there was a total of 3,969 sales which is down 9.6% from last year and slightly up from 3,846 sales in August, 2019. The number of new listings is up 15.3% to 4,873 and the number of pending sales is down 34.9% to 2,877.

The months of…

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