Tag Archives: market conditions

What’s that Home of Yours Really Worth?

There’s only one sure-fire way to determine the value of your home: Speak to the professionals who know best.

Maybe you’re thinking of selling, maybe you’re thinking of refinancing, or maybe you’re just curious about the market. But the question is, “What is that home of yours worth?”

What's your home really worth?

What’s your home really worth?

Such a simple question should be returned with a simple answer, right? Well unfortunately, determining the value of your home–or any home for that matter–can be a tricky process. You can go online and nowadays there are endless websites that will promise you a fast answer with fancy charts and graphs. As tempting as it may be to trust this information, be wary of letting a computer program tell you what your largest investment is worth.

The trouble with these websites is that they have little to no local market information. They are not aware that a new park is being built, or that a four-lane highway is being re-routed, or that you’ve lovingly cared for and maintained your home.

The bottom line is this: If you’re serious about getting an informative valuation for your home you should contact a local real estate professional. These professionals work with the actual people who will ultimately determine the value of your home–the home buyer

Don't just guess when pricing your home, find out what it's really worth by talking to a real estate professional.

Don’t just guess when pricing your home, find out what it’s really worth by talking to a real estate professional.

themselves. This is their profession and they will be happy to sit with you and explain the current market conditions that affect your home value.

Curious to know what you’re home is worth? Contact us today at 512-829-2062

 

Austin: First place in national economic rankings

Austin is on top again! After a brief slip to #3, Austin is back up to #1 in the On Numbers Economic Index. The Index measures the relative vitality of 102 major metropolitan areas with populations of more than 500,000. Its 18-part formula assesses private-sector job growth, unemployment, personal earnings, housing-price appreciation, and construction and retail activity. The top 5 cities on the list include: Provo, Utah (2); San Jose, CA (3); Dallas-Fort Worth, TX (4); and Oklahoma City, OK (5).

Check out the graphic below to see how Austin measures up!

Austin Ranked #1 in Economic Index Report

What’s your home worth in June 2013?

What’s the real estate market doing in your area? What are homes in my area selling for? Is it a good time to sell my home? Is it a good time to buy a home? The Austin area MLS statistics are out for June 2013 and things are looking good! Check out all the Austin area MLS statistics below, and if you want to know more about what homes are selling for your specific area, contact us! We can help you determine what your home may be worth in this ever-changing real estate market.

Area-Wide MLS Statistics for the Austin area

Area-Wide MLS Statistics for the Austin area

 

Wow! The Austin Area Real Estate Market is Heating Up!

Prices are going up, up, up! If you’re thinking about selling, this is great news! And, with interest rates still at low levels, it’s no wonder the real estate market is on the rise in the Austin area. Check out the most recent MLS statistics below!

Most recent MLS statistics for Greater Austin and the surrounding areas

Most recent MLS statistics for Greater Austin and the surrounding areas

Most recent MLS statistics for Greater Austin and the surrounding areas

MLS statistics for Dripping Springs and the surrounding areas.

MLS statistics for Dripping Springs and the surrounding areas.

MLS statistics for the Southwest Austin Area

MLS statistics for the Southwest Austin Area

Big Predictions for Housing for Next 2 Years

According to the most recent housing forecast, Fannie Mae economists predict that existing-home sales will rise by 10.5 percent this year, and by 6.2 percent in 2014. The forecast looks even sunnier for new, single-family home sales, projected to grow 15.1 percent this year and an amazing 44.1 percent in 2014!  Time will certainly tell if these predictions turn out to be true, but it seems like a great sign of a recovering housing market.

If you’re thinking about taking advantage of the market and some great interest rates, we’d love to talk with you! Give us a call at 512-829-2062, or search all the listings in your area here

Read the full article here: Big Predictions for Housing for Next 2 Years.

3 Reasons Why it’s a Great Time to Sell Your Home

Here’s the short version of why it’s a great time to list your home in the Austin area right NOW:

1. Inventory is down – At first this may sound like a bad thing, however, for you, the home seller, this means buyers are more limited in their selection, making your home potentially more desirable than when inventory is high.

2. Median Home Prices are up – In January 2013 we have seen an increase of about 10% in median home sales prices compared to 2012 (see chart below). That means that you may be able to get more for your home than you were able to one year ago. Recent statistics also show that sellers are also getting about 95% of their asking price – now that is good news!

3.  Closed sales are UP and Days on the Market are Down – MLS statistics are showing a 23% increase in closed home sales in the Austin area combined with a 22% decrease in the number of days a home is on the market until sale. So,if you need to sell your home quickly, now is the time!

Although we don’t have a crystal ball to predict your particular situation, we’d love the opportunity to work with you to get your home SOLD. If you’re thinking about buying or selling a home this year, let’s talk! Contact us at 512-829-2062 today!

We’ve also included all the most recent charts here below so you can see for yourself what the market is doing in the Austin area right now.

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New Years Resolutions for Sellers

Well, it’s that time of year again…time to resolve to keep our New Years resolutions once again. If increasing home sale prices and low inventory has caused you to think about selling your home in 2013, these New Years Resolutions for Sellers may be just the thing to help you get started!

Resolution #1: Get Your House In Order – A great place to start when thinking about selling your home, is to reduce clutter. Go through each room of the house and remove any clutter & personal items (family pictures, etc…) that might distract a buyer from really seeing Imagethemselves in your home. It’s important to give buyers “room to dream” about what it would be like to live in your home. “Staging is preparing a home for sale so the buyer can mentally move in” says, Barb Schwarz, President of the International Association of Home Staging Professionals. And, because homes that are staged typically sell more quickly than those that are not staged, we’ll help you by hiring a professional home stager as part of our listing services.

Resolution #2: Price Your Home Right – While this may sound like a no-brainer, sellers have a hard time acknowledging what their home is truly worth given the current market conditions.  When considering a price point for your home, remember, it DOESN’T MATTER:

  • What You Paid
  • What You Need
  • What You Want
  • What Your Neighbor Says
  • What it Would Cost to Rebuild Today

What DOES matter is what a buyer is willing to pay and what a seller is willing to accept in today‘s market. If you’re thinking about selling, contact us for a free Comparative Market Analysis that will show you what similar homes in your area are selling for right now.

Resolution #3 – Complete Necessary Home Improvements – The reasoning is simple, the better condition your home is in, the more likely it is to sell. That said, be careful not to go overboard and spend time and money on improvements that yield little or no return on your investment. Generally, it’s best to aim for about an 80% or more return on your investment. Although every situation is different, typically, sellers see the most return by investing in the kitchen, bathroom, or energy efficiency improvements. Again, it’s best to talk with your real estate sales professional first to determine whether or not your home needs repairs or improvements to help it sell more quickly. He/She can often-times let you know what buyers are currently looking for and may be able to help you come up with the most cost-effective approaches.

2013 looks like it’s going to be a great year in real estate, so sellers, make your resolutions, and get started today! And, whether you’ve been thinking about buying or selling, please contact us. We would love to talk with you about your options and help you figure out what’s best for you in the coming year.

Should you Buy a Home in the Real Estate “Off Season”?

As the holidays start to approach in November and December, many people wonder if it’s still a good time to buy a home. Interest rates are low, you’ve saved up your down payment, but people may be warning you it’s a bad time to buy.  However, while there are some disadvantages to buying in the real estate “off-season” (mainly, less inventory & fewer open houses due to bad weather) there are also some distinct advantages that can work in your favor when buying a home in the “off-season”.

1) Less competition –  People tend to hold off buying a home in November and December preferring to wait until after the holidays to do their serious house hunting. What does that mean for you? Less competition, and the ability to be less aggressive with your first offer.

2) The Possibility of Larger Discounts – Less competition could end up meaning a larger discount in price depending on how quickly the seller needs to sell their home. Sellers may also be more willing to negotiate during the “off-season” if they need to sell their home quickly & are not receiving many offers during this slower time of year. Although not guaranteed, you could end up with a great deal!

Though you don’t want to just settle for something, if you see something you like, now could be the perfect time to buy! Interest rates are at an all-time low, and you may be able to get more for your money now vs. the Spring when interest rates are expected to edge up. If you have more questions about buying in the “off-season”, or would like to talk with a Realtor about your particular situation, please contact us today at 512-829-2062.

This Week’s Market Update for Austin & Dripping Springs

If you want to stay “ahead of the curve” in the real estate market, it’s important to get the most recent market information so you can make better decisions. Below, I’ve included this week’s market update so that you won’t miss important changes that may impact your local neighborhood market conditions.

If you’d like to receive these market updates in an monthly email click here and I’ll add you to our list!

Market Report – Austin TX

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Dripping Springs – Market Report

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Weekly updated market information for Dripping Springs, TX