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Archive for the ‘Austin’ Category

Is Austin now a Seller’s Market? or is it just smoke and mirrors?

In Austin on January 13, 2010 at 4:43 pm

I read an article the other day that claimed Austin is now becoming a Seller’s market. This means when inventory levels for homes fall below 5.5 months (number of listings divided by the number of sales) sellers are in a good position to sell. In a Buyer’s market which many of us know we’ve been living in over the last 3-4 years simply means that their are more houses on the market compared to the relative number of buyers. This means that buyers have negotiating power and have plenty of homes to choose from. The influx of foreclosures and excess inventory of new homes have contributed to this in a big way. It’s been estimated that 1 in 3 buyers are looking at foreclosures to try to get a good deal. Unfortunately many buyers have learned over the last year particularly that foreclosures are not always as good of a deal as they sound. Repairs are rarely done to make the house livable, and even if the house appears to be in decent shape, many buyers are finding problems and costly defects that where not discovered in the initial inspection process. “Caveat Emptor” is a phrase I believe best describes these types of purchases.

The second part to this equation is new construction. I remember the days just a few years ago when builders had the capital to go out and build spec (pre-built) homes in new communities by the dozens. It was a great way for builders to sell back in the day, because if you could fog a mirror you could pretty much qualify for a home. So the shelf life for spec homes was relatively short. Then you add the vast amount of capital that builders could raise to take down large tracks of land and off they went.

As we all should know the economic crisis has changed the world we live in. Foreclosures, although still on the rise, are not saturating the market. Fannie Mae, among other investors are now piloting a program called the Deed for Lease. If you own a home and cannot be approved for a loan modification, Fannie will allow you to give back the deed to your house and in exchange allow you to lease back from them for 1 year. So why do we care? Well, think about it, if the owner of the property leases the property back than that’s 1 less REO property on the market. This may seem like a good thing for distressed homeowners at first. However, Fannie Mae is not going to be in the property management business instead they will contract out the property management to third party management companies. Furthermore since the management companies will not technically own title to the property, expect these management companies to put these properties back on the market and inventory levels to creep back up in the next 12 to 18 months.

As for new home construction, if you want a new home expect to wait. Builders are no longer building spec homes. You’ll see 1 or 2 model homes but that’s it. New homes will be sold on dirt. Meaning you need to contract first before they start construction. Plus, don’t be surprised if you will be asked to get the construction financing in your name as well. And land acquisition by builders, depending on who you talk to is down as much as 50-60%.

So what does this all mean? Well if you are a current homeowner and want to sell your property, now is the time! That’s what a Seller’s market means. However, don’t expect to get a high return on your investment though. Remember the house still has to be appraised, and with the new appraisal standards and valuation code of conduct, appraisers are literally killing deals left and right. I myself sold a listing for full price only to have an appraisal some back $5,000 less a week before closing. It was not fun. There are some ways you can protect yourself when it comes to valuation issues. One of them is larger cash down payment requirements. I have a formula based off the type of contract that I use for my clients that helps them understand what to expect and how to evaluate offers beyond Price.

In today’s market you have to read between the lines. for more information find me contact me at 512-656-4243.

Information About South Austin Real Estate | Real Estate Luxury 

In Austin on May 27, 2009 at 11:57 pm

According to statistics from the Austin MLS, after a rather neutral start in 2008, the real estate market for residential homes in Austin has increased its. … Name (required). Email (will not be published) (required). Website. You can use
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Information About South Austin Real Estate | Real Estate Luxury 

In Austin on May 27, 2009 at 11:59 am

According to statistics from the Austin MLS, after a rather neutral start in 2008, the real estate market for residential homes in Austin has increased its. Name (required). Email (will not be published) (required). Website. You can use
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the residential real estate buying process in austin texas | Real 

In Austin on May 27, 2009 at 11:58 am

The Residential Real Estate Buying Process in Austin TexasWriten by Joe ClineDecide to BuyThe first step in buying a house is to try and understand what you hope to achieve. They include up front loan points, title insurance, escrow or
closing day charges, document fees, prepaid interest and property taxes. Studies show that the closing costs, which can average 2 to 3 percent of a total home purchase price, are often more costly than many buyers expect.


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Austin Real Estate – Getting a Bargin in Austin Texas

In Austin on May 8, 2009 at 6:02 pm

Austin Texas Real Estate – Getting A Bargain In Austin TX Real Estate

Austin Texas Real Estate – Getting A Bargain In Austin TX Real Estate

Now is the perfect time to get a bargain when it comes to Austin Texas real estate. With the number of homes on the market outnumbering the number of buyers, many of the Austin TX real estate properties have been reduced significantly, making it the ideal time to buy.

No matter what type of home you are looking for, you can find it when you look for Austin TX real estate. The offerings for real estate in Texas range from single family homes to multi family dwellings and everything in between. You can also find land as well as commercial properties when you look for Austin Texas real estate.

Of all of the areas in the country, Austin Texas has always been one of the more affordable in which to live. If you are considering relocating to Austin, Texas, then now is the time to do so. You can take a look online at the Austin TX real estate that is on the market and then make arrangements to see the properties when you visit the city. The Austin Texas real estate features properties right in the heart of the city for living as well as those around the area. The type of Austin TX real estate that you choose depends on your lifestyle as well as how much room you need for your home.

If you are looking for commercial real estate property in Austin, you can also find that as well. There is plenty of Austin, Texas real estate in the commercial range. This can come in handy if you are considering starting your own business or relocating a business to this area. You can go online and find out about the commercial Austin TX real estate that is for sale.

Once you visit Austin, you will not want to leave. This area is considered to be one of the best areas in the country in which to live and the housing is very affordable. You can get a large home in Austin for a fraction of what you would expect to pay in other areas of the country. If you are thinking about settling down somewhere in the United States or just investing in real estate, you cannot afford to overlook the bargains that are available today when it comes to Austin Texas real estate.

By going online, you can find out everything that you need to know when it comes to Austin Texas real estate. You can look at photos of the houses as well as the prices of the houses as well. You can figure out what you really want when it comes to property when you take a look at what is available in Austin and then make an appointment to see the properties that interest you. There is no better way to take advantage of the bargains in Austin Texas real estate than by searching for them on the internet. Look for an online Austin TX real estate company that will allow you to perform an interactive search for properties in and around Austin.

Author Bio.

There are more bargains than ever when it comes to Austin TX real estate . If you are looking for a way to get a home in this area, look for Austin Texas real estate online by going to Pride of Texas.