It's frustrating to buyers. Making offers. Full list price offers. Standing in line to see a house. Prices going up. It is a fast moving market right now and if you are not 100% in tuned with what is happening, you may miss the mark--more than once.
So, here is the secret answer to the question: In times like these, it takes more than an experienced Realtor to hit the mark. It also takes a ready, willing and able buyer to make it happen. Ready to jump in the car and go see a house the day it hits the MLS. Willing to make an offer that day --immediately. Able to show the seller that you are good for the offer and able to close on the transaction. It takes all three from the buyer to make it happen and it takes a Realtor who understands what is happening across the region and in the communities with whom you can partner. Realtors who are capable of building bridges between buyers and sellers such that both parties are comfortable with making the deal happen. From offer, to inspection, to lending, to title, to the 30 day close. It all has to come together behind the scenes and everyone has to be on-board to have a successful transaction in a fast moving market.
A good deal is when buyers get to purchase a home in a community where they want to live and sellers are selling their home for a fair market price--and Realtors are working in the best interest of their respective clients, but working together to the same end. Experienced Realtors who do this 20, 30, 40, 50 times a year, can build these bridges and help their clients make this happen.
Yes, there are homes available and buyers are making deals to close on these homes. But you have to know where to look, what to do and when to jump. This is where experience is key.
Tuesday, March 4, 2014
Posted by Tim Thornton, Greater Austin Area Realtor® ZipRealty, inc. at 3/04/2014
Labels: Why is it so hard to find a home in Austin now? Why are homes selling so fast in Austin? Experienced Realtors in Austin
Monday, February 17, 2014
Where is it happening? The simple truth is, Austin is growing in all directions--horizontally and vertically! Any place where there is open land that is privately owned today, will most likely become a community or commercial development at some point in time in the not too distant future. Areas that were virtually unknown just 10 years ago like Leander and Liberty Hill are suddenly and viably "on the map". In a big way! And areas that were once farm lands of Hutto and Kyle are springing up communities for first time home buyers and homes under the Austin area median home price. The Austin satellite images are changing right before our eyes. And it is not just home owners, but investors of all descriptions are back in Austin with a vengeance.
Some people may look at this less favorable than others, but the undeniable truth is that employers find the Austin area highly desirable and as long as jobs multiply in our communities, so will new communities, families, schools, hospitals, hotels, new roads, restaurants and new everything.
It is a changing world. I hope you are a part of this exciting and challenging change in our Great "city". Austin is something different to each of us, but it is something special to all of us.
Tuesday, February 11, 2014
This can be attributed to a few simple facts:
- People are moving to Austin in large numbers every week. Unbelievable numbers.
- People living in Austin are not moving out of Austin.
- The Austin job growth continues. New jobs from expansion, growth and new investments continue.
- New home builders can not keep up with the growth.
1. Sellers should be calling their Realtors long before they think they should sell--if you don't have a trusted Realtor, I would love to start talking to you. Don't wait until the spring because you think that is when houses sell. This is not a typical market!
2. Buyers can not spend time "thinking" about what works for them. Buyers have to know what they are looking for, need to be ready to pull the trigger the same day they see a home and need to be prepared. Being prepared means you and your Realtor need to be on the ball with what is happening in the area where you want to buy and need to be aware of the trade-offs that you WILL have to decide on--between price, location, schools, age, size and condition of the home you want to purchase. You never get everything on this list (best possible house at the cheapest possible price). Real Estate is always about making decisions. Make sure you are prepared for the decisions you have to make.
So, here are the numbers for Jan. 2014 for the Greater Austin Area:
- Homes sold/closed during January 2014: 1,520
- Homes sold/closed during January 2013: 1,547
- Pending or sold since Jan. 31st: 3,016 !!!
- You can see that we were very close to the 2013 numbers in Jan, but when we look at what is happening in early Feb...oh my goodness!
- Median Price per square foot, Jan 2014: $115 psf
- Median Days on Market (DOM): 33 days
- Inventory remains low in most communities
- Austin addresses, including ETJ: 548 homes sold
- Median price: $267k
- Median DOM: 24 days
- Median size: 1940 sf
- Cedar Park: 75 homes sold
- Median price: $227k
- Median DOM: 21 days
- Median size: 2306 sf
- Round Rock: 131 homes sold
- Median price: 190k
- Median DOM: 31 days
- Median size: 2095 sf
- Steiner Ranch, River Place, Westminster Glen and Vandegrift High: 22 homes sold
- Median price: $502k
- Median DOM: 71 days
- Median size: 3632 sf
- McNeil High School communities, including Avery Ranch: 41 homes sold
- Median price: $245k
- Median DOM: 9 days
- Median size: 2172 sf
- Westwood High communities in NW Austin: 17 homes sold
- Median price: $262k
- Median DOM: 5 days
- Median size: 2162 sf
- Eanes Westlake High communities in West Austin: 25 homes sold
- Median price: $925k
- Median DOM: 47 days
- Median size: 3362 sf
- Bowie High communities in SW Austin: 43 homes sold
- Median price: $310k
- Median DOM: 16 days
- Median size: 2162 sf
- Lake Travis High communities: 56 homes
- Median price: $395k
- Median DOM: 52 days
- Median size: 2571 sf
- $MM Luxury Market over $1M: 19 homes sold
- Median price: $1.3M
- Median DOM: 47 days
- Median size: 4497 sf
- Most expensive home sold: $2.85M in River Place
- Condo/Townhouse Market in Greater Austin: 189 units sold
- Median price: $211k
- Median DOM: 27 days
- Median size: 1360 sf
If you want to know what is happening in your community or on your street--give me a call. Let's talk.
Your Bonified Austin Area Realtor
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