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One of the leading indicators of whether a market leans toward the Seller or leans toward the Buyer is the rate at which homes are going under contract. Details regarding this dimension of the market are seldom reported; in fact, I don't know of any other Realtors or Analysts who look at the consumption at this level of detail. Making a determination of "Seller's Market" is normally tied to only one factor--homes sold compared to total volume of homes for sale (inventory). But knowing how fast homes are selling in the area where you are selling or where you are looking is a key factor that you should before selling your home or before you buy your next home. If the best homes in the area are selling in less than 3 days and you are planning on waiting until the weekend to see a new listing--guess what--you may have missed the house that you wanted to buy. And if you are selling and your home has been on the market past the expected contract time for your community, you may need to seriously look at the factors that are keeping your home from selling--chiefly, Market price and Showing Quality.
Q: So how fast are houses selling in Greater Austin area?
A: As of today, with more than 2998 homes with pending contracts, here are the rates at which homes are selling during the first 34 days on the market:
The first day on market: 3.5% of these home
First 3 days on market: 8.4% of these homes
First 7 days on market: 18.4% of these homes
First 14 days on market: 38% of these homes
First 34 days on market: 50% of all homes
These are incredible statistics and valuable information to both buyers and sellers.Whether you are planning to buy or sell your home--give me a call and we can discuss what is happening in your community or the area where you are looking.
Being able to spot the differences between flooring materials is not always as easy as it sounds. Just looking at a picture of a room is not enough and sometimes walking on the floor is not enough to tell the difference either. Now, this was not always true and there are some floors that you can tell immediately that they are inexpensive laminate floors, but not all laminate floors are inexpensive these days and not all hardwood floors are solid wood.
Let's start with the basics. Hardwood. A solid hardwood floor plank is made from a single piece of wood. It is cut to a size, sanded and a manufacturer's edge of some description is added to the edges so that pieces can fit together (this board has a tongue and grove edge). The edges may be unique to the manufacturer, but are not unique to solid hardwoods. What makes this material unique is the thickness of the solid wood section. Solid hardwood is thick and lends itself to being sanded and refinished multiple times--depending upo…
My contact and experience with management companies is fairly extensive--both as a home owner/investor and in my experience as a Realtor with many different management companies in condo associations and single family communities alike. What I have seen over the years is that management companies have the tendency to become complacent with time and then become unresponsive and ultimately become very arrogant about their (paid) role in the management of the affairs of a Home Owners Association (HOA). Sad, but true and this seems to be a predictable truth.
Not only have I seen management companies that will not return phone calls or answer questions, but I have seen Management Company Representatives in annual meetings tell the home owners what they could and could not do in their association and treat home owners as if they were unruly children under the parental care of the management company. Well, I am here to tell you the Home Owner…