Monthly Archives: February 2014

Top Reasons to Buy a Home in 2014

Top Reasons to Buy A Home In 2014

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Ready to buy a home in 2014? Great! Still trying to decide? Here are just a few reasons you just may want to jump in to the real estate market and buy a home in 2014!

Shrinking Selection – After the economic downturn, there was a large inventory of homes for sale and a drop in both sales price and mortgage interest rates. Now a rebounding economy has resulted in increased consumer confidence and job growth, which in turn has made the average buyer’s selection process a bit tougher with more limited inventory. The best homes in the most desired locations sell quickly, and finding your dream home may become more difficult as inventory shrinks further. The Austin Board of Realtors reports that in January 2014, the Austin area saw a 27.9% decrease in months’ supply of homes compared to January 2013.

Interest Rates on the Rise – Though interest rates have risen slightly since the economic downturn, they are still considered very low by historical standards. The Mortgage Bankers Association, the National Association of Realtors, and Freddie Mac/Fannie Mae all predict 30-year fixed mortgage rates will rise to 5% in 2014, almost 1% higher than the rates today. That may not sound like much, but even for someone with good credit, the difference of one point on a 30-year fixed loan with a purchase price of $300,00 can amount to over $51,000 in additional interest payments over the life of the loan.

Buy vs. Rent – Rental occupancy rates made a significant jump in 2013, which drives us rent prices significantly. USA Today reported 5.2% increase in apartment rent in Austin during 2013, and another 3.7% jump is forecasted for 2014. Rising market value makes buying a better choice today over renting.

Build Equity – When you buy a home, you are building equity in that home, meaning you own more of your home as you pay off your mortgage. Your mortgage can be considered a “forced savings plan” which pays you back in the long run.

Price Increases on the Horizon / Appreciation – A highly active real estate market can create a seller’s market over time when inventory stays low. The Austin area is in high demand with a whopping 35.3% increase in population expected from 2010 – 2020. Prices are expected to appreciate by over 25% from now to 2018. As 2014 progresses and home values appreciate, it’s best for buyers to act quickly and secure a home that will appreciate with the market.

Financial Stability – When you own your own home and have a mortgage payment you can afford, you gain greater financial stability, and with that comes greater peace of mind. This is especially true with the volatility of the dollar’s value, stock market, and all-time high gold prices. Owning a home, as opposed to a stock, gives you a real asset that you can live in, rent out, or sell if you choose.

Tax Benefits – Homeowners can deduct the interest of their mortgage payments from their taxes, and interest is the largest part of your payments, especially in the early stages.

Family Wealth – Just like any other investment, buying low and selling high in real estate can provide family wealth. A recent Federal Reserve study from June of 2012 shows a homeowner’s average net worth is over 30 times greater than that of a renter’s. The average homeowner has a net worth of $174,500, while the average net worth of a renter is only $5,100.

Sought After Culture & Lifestyle – The greater Austin area has received notable praise for its unique lifestyle, warm climate, thriving culture, and booming economy, making a great place to live and own a home.

Whether you’re a first time home buyer, an investor, or this is your second or third home purchase, don’t go it alone! We have a team of agents who are expert negotiators that can help you get the most for your money in a real estate transaction. Contact us today to find out more!

Austin is the fastest growing city in the U.S.

 

Austin is fastest growing city in the U.S. for 4th year in a row!

picture credit www.kxan.com

Austin is the fastest growing city in the U.S. for 4th straight year, Forbes says

According to Forbes, Austin is still the fastest growing city in the U.S. This is the 4th time Austin has been named the fastest growing city, expanding it’s economy by 5.88 percent in 2013 and saw an increase in population of 2.5 percent. This, combined with a 4.89 percent unemployment rate, makes Austin it an attractive place for people and businesses to call home.

Another big contributor to growth? An effort by the Austin Chamber of Commerce to recruit business from a wide variety of industries in 2004, particularly those companies located in California, the Upper Midwest & the Northwest.

According to Dave Porter, senior vice president for economic development at the Austin chamber, “We’ve had 307 companies move here in the last nine years, and about 100 of those come from California.”

Most recently, AthenaHeath announced it would bring more than 600 jobs to Austin, and San Francisco based, Dropbox, will be expanding to Austin as well.

Other Texas cities listed by Forbes include, Dallas (#4), Houston (#10), and San Antonio (#25).

Thinking about making the fastest growing city in the U.S. your home, or already live in Austin and just looking to buy your dream home? Let our local area real estate experts help you! Contact us today to see what we can do for you – we’d love to talk with you!

 Read the full Forbes article here.

Texas Hill Country Dream Home – 1608 High Lonesome, Leander TX

This home shines! 1608 High Lonesome is a beautiful new construction in desirable Crystal Falls subdivision located just North of Austin TX. Set back from the road for privacy on approx 1.5 acres, this home has a little bit of everything.

1608 High LonesomeRelax and enjoy the Hill Country on the large, wrap around porch, or enjoy the many custom features just waiting for you as you step inside.

1608 High Lonesome, Leander TXThe gourmet kitchen is a cook’s dream with over-sized island & farm sink, gas cooking, stainless appliances, quartz counters & custom fixtures.

1608 High Lonesome, Leander TX 1608 High Lonesome, Leander TX The kitchen opens to a breakfast area, and formal dining area that flows into the living room.

1608 High Lonesome, Leander TXHardwood floors & wood burning fireplace w/custom mantle accent the living area nicely. With 3682 sq feet, you’ll have plenty of space to keep everyone happy.

1608 High Lonesome, Leander TX 1608 High Lonesome 1608 High LonesomeThree bedrooms and office are located downstairs, with one bedroom, one bath, and bonus room upstairs.

1608 High Lonesome

Downstairs office

1608 High Lonesome

Upstairs Bonus Room

1608 High Lonesome

Upstairs bedroom

The master bedroom features hardwood floors and a HUGE walk in closet that connects to the utility room.  The custom bathtub, large custom shower, and double vanity are the highlights of the master bathroom.

1608 High Lonesome, Leander TX 1608 High Lonesome, Leander TX 1608 High LonesomeSpend time outdoors and take advantage of the great, Texas weather or entertain on the large covered patio w/outdoor kitchen overlooks wet weather creek.

1608 High Lonesome, Leander TXWant to see this gorgeous home in person? Visit our open house this Sunday (2/16) from 1-4pm!

Special Financing Incentives available on this property from SIRVA’s preferred lender. Don’t wait! Make an appointment to view this gorgeous home today!

Featured Subdivision – Sunset Canyon!

Sunset Canyon is located in Dripping Springs off Hwy 290 W and features many custom acreage homes with great Hill Country views. Sunset Canyon is a great community if you want a rural lifestyle not far from Austin. Properties here are usually over 1 acre, and there are still some lots available for new construction. The HOA restrictions are light, so residents have the option to exercise more control over their properties. Sunset Canyon is part of highly acclaimed Dripping Springs ISD and just a quick trip up Highway 290 to Austin or 5 minutes to the city of Dripping Springs.

Featured Sunset Canyon Homes

One of our team’s recent listings in Sunset Canyon. This beautiful home went under contract in 18 days, and sold for 100% of asking price!

Featured Sunset Canyon Homes

Relax under the gorgeous oak trees found throughout this acreage subdivision.

If you’re thinking about selling your home in Sunset Canyon, it’s a great time! As you can see from the chart below, homes listed in this area have gone under contract in less than 30 days since July 2013! There’s also been a significant increase in sales prices in 2013 vs. 2014 that is expected to continue throughout. 2014.

Sunset Canyon

Whether you’re thinking about buying a home in Sunset Canyon, or listing your home, let one of our local area home experts help you get the most for your money. The Mallett Integrity Team specializes in this area and we have a proven system for making your real estate transaction go as smoothly and effectively as possible. Contact us today!

 

It’s a GREAT time to sell your home! New market Info.

Total homes sales for 2013 were the highest of any year since 2006, according to a December 2013 report from the National Association of Realtors.

There were 5.09 million total sales in 2013, a 9.1 percent increase over the previous year.

“Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates and a large pent-up demand driving the market,” NAR chief economist Lawrence Yun said.

The national median price for existing homes sales was $197,100. That’s an 11.5 percent increase from the median price in 2012 ($176,800).

NAR Home Sales InfoGraphicSo what does this mean if you’re thinking about selling your home? It means the market is in a great position for you to potentially sell your home quickly for more money! Although we don’t have a crystal ball to predict exactly what will happen when you list your home, we can say that, as a team, our listings average days on the market is under 30with many of our listings selling for asking price or higher!

Check out our listings from last year that sold in under 30 days:

2013 Listings Sold Under 30 Days

If you’re thinking about selling your home in the Southwest Austin or Dripping Springs area, now may be the best time to get your home sold in the least amount of time for the most money! An improving market, low Austin-are inventory, combined with a top producing real estate team may be just what you need get your home SOLD.

Contact us today for a no-obligation analysis of what your home may be worth 512-829-2062.