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Market Quick Hits = Opportunity
Market Quick Hits “We often miss opportunity because it’s dressed in overalls and looks like work” ― Thomas Edison Units closed in April 2017 decreased 3.8% compared to April 2016. Year to date we’re up 1%. The Austin MSA inventory is up 16.9%, 15.1% in Travis County and 14.6% in Austin City Limits. Year to date condo sales are up 13%. Condos currently represent 10% of the total sales in the Austin MSA and 20% of the total sales in Austin city limits. Current interest rates for a 30-year fixed are 4%; down 0.125% from the beginning of May. Builder incentives and seller concessions are on the rise once again. Percentage of sold price…
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1Q17 Market Watch
How’s that real estate market, you ask? 1Q17 single family units sold were 0.5% higher compared to 1Q16. This is a clear continuation of the market slowdown we noted previously, but make no mistake, we are still on pace to beat last year’s numbers. Even if it’s just by 0.5%What continues to raise my eyebrow is the interest rate increases over the last 9 months. Consider the graph above that shows the interest rate fluctuation for a 30-year fixed rate mortgage over the last 5 years. If you are considering a home purchase, think about this: A July 2016 homebuyer had an average interest rate of 3.41%, an average price of $353K, and a monthly principal and interest (PI) payment of $1,560. Today,…
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Do I Work with Expired Listings?
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A Note From Scott, October2016
A Note From Scott Howdy, y’all! The peak home sales season may have passed but our little team of Real Estate professionals hasn’t slowed in the least. To the contrary, our buyers, and many of our homeowners for that matter, are busier than ever. To me, the fall is the best time of year to consider all of your options as a homeowner or prospective homeowner. Regardless of your situation, we would love to visit with you to see if we can make your current situation even better! Considering a move-up or relocation? We should build that plan today! Ready to enter the marketplace as a first time home buyer? With today’s interest…
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New To The Austin MLS: “CS” Listings
New to the Austin MLS: “CS” listings For a few years, local buyers have had countless reasons to be frustrated. The lack of inventory has made it difficult to win offers and often they’ve missed out on opportunities entirely as some homes contract without ever hitting the open market. Realtors have tried countless ways to adapt creating numerous underground market portals that only fractions of the local Realtor community actually join. But now, a game changer from the Austin Board of Realtors (ABOR) and I think sellers and buyers will be pleased! The Austin Board of Realtors has launched a new MLS status called Coming Soon or CS. This new status was implemented in an effort…
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Consider This: Fall Season Is Home Buyer Season
Consider this Fall season is buyer season! Last week we closed a first time home buyer who purchased a remodeled 3 bed, 2.5 bath home in south Austin, north of Slaughter, for only $233,500. That buyer only brought $8,000 to the table (earnest money, downpayment, inspection and appraisal) and left with a 3.5% interest rate and $1600 monthly payment. Still think Austin isn’t affordable? This graph shows the number of sales and the percentage of original list price sellers received by month in 2015. Consider that though the sales numbers dip in the fall, buyers very clearly have negotiation strength as sellers discount more during this time of year. The low rates and increase in seller concessions…
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For Buyers: Fad Or Fixture
FOR BUYERS: FAD OR FIXTURE? Just like with scrunchies, acid wash jeans, and neon jazzercise gear, all fads come and go. In-demand home features vary based on the year, and 2016 homebuyers have a particular expectation of what they’d like to see in their dream house. Are any of these features on your list? As an Accredited Buyer’s Representative (ABR®), I can help you find a home that exceeds your expectations. Please let me know if you have any questions! 7 Features Home Buyers Want Most. Copyright © 2015 Thomson Reuters.
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For Buyers: There’s A First Time For Everything
FOR BUYERS: THERE’S A FIRST TIME FOR EVERYTHING When you’re making a big decision like buying a house, it’s impossible to know everything you need if you don’t ask questions. When you work with an Accredited Buyer’s Representative (ABR®), you gain access to information that other homebuyers don’t have, and have a dedicated professional that will serve as your advocate in the home buying process. I promise that you’ll have all the information you need to make an informed decision. I can’t wait to help you find your dream home! 5 Important Questions to Ask at an Open House for First Time Home Buyers. 2016 DreamCasa.org. All Rights Reserved.
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Hey Home Buyers, “Closing On A Home Shouldn’t Be A Game”
When you’re buying a home, you may think that you’ve taken care of every last detail and the home is basically yours! Then, out of nowhere, you’re thrown a curveball. What do you do now? How do you proceed? When you work with an Accredited Buyer’s Representative (ABR®), we can help you through any snag in the process, regardless of what it is. I am a buyer’s representative which means that I am your advocate. Let me know if you have any questions! I look forward to working with you! I found this article quite interesting on closing day curveballs.
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Response to Today’s ABJ Article on Austin’s Housing Market
Interesting article from ABJ today regarding the Austin metro area’s risk for home price declines. The article sites a report from Arch Mortgage Insurance Group, a Californian based mortgage insurance company interestingly enough, which says, “Most energy-patch states will experience slower economic and home price growth and a few areas may even see outright home price declines.” The report also ranks Austin metro area as the second most at-risk for a decline in home prices behind Houston. Let me reassure home owners and prospective home buyers that our local market here in Central Texas is still moving at record paces. Though the official numbers for 2015 have yet to be certified…
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Now A Certified Residential Specialist!
Scott Lawrence has been awarded the prestigious Certified Residential Specialist (CRS) designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors. REALTORS who receive the CRS designation have completed advanced training and demonstrated outstanding professional achievement in residential real estate. Only 29,000 REALTORS nationwide have earned the credential. Home buyers and sellers can be assured that CRS designees subscribe to the strict REALTOR code of ethics, have been trained to use the latest tactics and technologies, and are specialists in helping clients maximize profits and minimize costs when buying or selling a home.