Thursday, September 15, 2016

Real Estate Update: August 2016

Here is the latest info graphic from the Austin Board of Realtors, on the rise in Austin area Real Estate--year over year for August 2016.

While I don't feel one month's look at the numbers is a adequate method to determine market conditions (rise or fall of a market), the Greater Austin area real estate market has been performing relatively consistently for some time now, so this data capture does reflect the direction and mood of our real estate climate.

Big take-aways:
  • Available inventory of homes is still EXTREMELY low
  • Pending sales to active sales ratio is very high
  • Sales volume was over $1B for the month!
  • Median home values continue to float upward

This graphic was provided and published by the Austin Board of Realtors (ABOR). All rights reserved by the owner of this info graphic.

Monday, September 5, 2016

Today's Business Thought

Knowledge is always an advantage in life and business. Speculation is just speculation. Until you know what you are talking about, you are probably just talking and you may very well be the only one listening.

Saturday, August 27, 2016

New Home Construction: Managing Our Expectations with Builders

One of the great enigma's in the real estate world are new home builders. When times are challenging, builders ask the Realtor community to jump in and help them understand why sales are not as strong as they believe they should be. When times are good, the attitude is very often one of "Stand back, boys. Watch and learn how this is done." I tell my clients: "There are two kinds of builder sales people. The ones that I know and trust and the ones that I have recommended to their VP's that they be fired." The construction superintendents tend to be at one extreme or the other as well. Either well versed in the craft and very humble about it or unapoligitically arrogant--and undeserving of their self confidence that they wear on their sleeve. It is as inconsistent and varied as Realtors. Some who know what is right and wrong and try to always act in the clients' best interest and create the best possible product. Some who either don't know what good product and good customer service is or maybe they simply don't care. I have seen it all.

Mr. & Mrs Builder--I don't know where you and your team fall on this spectrum. I am sure you would tell me and my client that you do it better than any builder in the city. Yes, I hear that pitch given to my buyers a lot. But rather than hearing those words, I would like to experience it when there is an issue. Don't tell me how great you are--show me.

Every builder claims greatness. Very few live greatness. There are only a few things that a builder can do to earn favor among customers and Realtors:
  • Take care of the customer and treat them fairly. 
  • Build a truly robust product. 
  • Take responsibility for things that did not happen right the first time--by making it right.

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