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Beware, home buyers: A record number of homes are selling above their asking price
This year’s spring home-buying season is set to be one of the most competitive ever, as the pandemic continues to stoke interest in homeownership. And home prices are skyrocketing as a result. A new report from real-estate brokerage Redfin RDFN, -0.22% found that 39% of homes sold above their listing price during the four-week period ending March 21, an all-time high. That figure is 15 percentage points higher than during the same stretch of time a year ago. The median home-sale price was $331,590, Redfin reported, which represented a 16% increase from a year ago. Researchers noted, though, that the year-over-year comparisons may be skewed by the fact that around a year ago, states were…
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Tips For Buying A Home During The Winter Months
Are you thinking about buying a home during the winter months? If so, you come to the right place. Even though the Austin Texas area does not get a lot of snow and ice during the winter months, as some states do, home buyers still have to know how to buy a home here during the winter months. In this article, I’ll share with you several tips that you can use which will make buying a home in Austin Texas area easy this winter. Stick to your budget. Sure, home prices might drop a bit with the temperatures. But that doesn’t mean you should justify spending any more than 25%…
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Tips For Selling Your Home In 2021
2021 is right around the corner and there’s never been a better time than right now to start thinking about getting your home ready for sale next year. In this article, I’ll offer you several tips that you can do to start preparing your house right now to get it ready to list on the MLS and sold in the coming year. Tip #1 – Declutter Your Home De-cluttering your home is by far one of the most important things that you can do to get your house ready for sale. When you declutter, it’s best to create piles of the things that you want to keep, save for later,…
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Should Buyers Stop Writing Letters To Sellers When Submitting Offers?
One of the most time-tested things that real estate agents have encouraged home buyers to do for years, is to write a letter to a seller, if they thought that the letter would be successful at motivating the seller to choose their offer over another buyer’s offer. The big question is this, are letters to sellers still relevant in 2020-2021? In this article, I’ll answer this question, and provide you with some food for thought, if you plan on submitting a letter to a seller with your offer. Still Relevant? Yes And No… Even though many real estate agents will tell their clients to submit a letter to a seller…
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Tips For Buying A Home In A Red Hot Real Estate Market
If you’re planning on buying a home in Austin Texas, one thing that you’re going to see is that the real estate market here has been red hot. Yes, it’s true, we have a booming real estate market, even though the United States economy is currently in the midst of a deep recession, and we’ve dealt with an ongoing pandemic. The good news with the real estate market booming, this means that it’s also the perfect time for buying a home because mortgage interest rates remain historically low so it’s possible once you find a property to get a great deal on a home. Things to do before buying a…
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How the Pandemic Is Helping Some Millennials Realize Their Home-Buying Dreams
This year’s coronavirus pandemic and the accompanying recession have turned a lot of people’s financial plans upside down. But those millennials who’ve been lucky enough to hang onto their jobs are fast-tracking their plans to buy a home, in part because the pandemic is helping them do so. The nation’s largest generation has been helped by record-low mortgage interest rates, according to a recent realtor.com® survey. Those low rates are helping to offset home prices that are at an all-time high in many places. In addition, the survey results show that stay-at-home orders have helped these 20- and 30-somethings save money they might otherwise have spent going out, thus helping them…
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‘New York and California are the land of the flee, and Texas is the land of the free’: real estate investor
The allure of small-town living has catalyzed mass migration from places like New York and California to states like Texas and Florida as Americans grapple with daily life during the coronavirus pandemic. Since March, city-dwellers shopped for more affordable, spacious living arrangements in suburbs and small cities. Migration is starting to slow down, a recent Yahoo Finance-Harris Poll survey showed, but the shift to small-town living has already radically changed real estate values in the U.S., say experts. “I actually think we’re not appreciating it as big and profound as it actually is. Our joke has been that New York and California are the land of the flee, and Texas is…
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Fannie Mae Data Confirms That Home Buying Sentiment Dropped In July
Thanks to recent data from Fannie Mae, we know that consumer home buying sentiment dropped during July After two straight months of increases following the onset of Coronavirus in March. The real estate market across the United States, especially in Austin, is still strong but, with home purchase sentiment down more than 19 points compared to the same time last year. This is a cause for concern among some industry professionals that are watching the direction of the market closely. What’s Next For The Real Estate Market? Even though mortgage interest rates have never been lower, the reality is that for most consumers, they are pessimistic about buying a home…
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Tips for selling your home during Coronavirus
2020 has been an unconventional year for the ATX real estate market, and the nationwide real estate market as a whole, because even though the country is in a pandemic, people are still continuing to buy and sell houses. The big question is how do you start the process of start the process of selling your house when Coronavirus is still persisting and some businesses are getting locked down again? In this article I will provide you with several tips that you can use for selling your home during the Coronavirus pandemic. 1. Hire A Real Estate Professional If you’re a frequent reader of our blogs or News & Insights, you’re…
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March 2020 Austin Real Estate Market Update
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You Can Still Buy and Sell a Home During the Coronavirus Outbreak
Spring is usually the busiest time of year for real estate, it’s when house hunters and home sellers come out of hibernation mode and descend on the market in droves. But this year—in the era of COVID-19—is different. The coronavirus outbreak has rocked the economy and upended many industries, including real estate. As Americans across the country are sheltering at home, many home buyers are left wondering: Should I buy a home now, or wait until quarantine measures loosen and the economy picks up again? The same goes for sellers wondering when they should list their home. The real estate market is still active; most states have deemed the real…
