Austin Area Home or Investment Property?

In the Real Estate world we have been conditioned to think of Real Estate as an Investment. While this is partially true, it is also a major obstacle for buyers looking for a home that will make them happy. They find a home that they really like and then they begin to look at it as an investment.

Yes, your home should be a good investment. After all, the reasons why you are buying a particular home should be the reasons why some other families in the future are also interested in this home. Unless it is a really odd home--your connection with a home should be shared by some portion of the population in the future. The problem comes when a buyer looks at a potential home purchase equally as an investment and their future home. Finding the home that connects with the buyer and the buyer that connects with the home is a completely different formula than finding a proper investment property. Investments are investments. My home is my home.

I invest in Real Estate, and while I buy "nice homes" in good communities with good schools, amenities, etc., I am not looking for a home that works for me and my family. It is not my goal. I am looking for an investment with short term or long term returns. On the other hand, when I buy a home to live in, I am looking FIRST and FOREMOST for a home with which I make an emotional connection. Yes, it will be a good investment, because we will buy in a good area with good schools where others will want to live in the future, but we will not find this home at 10% below market value. I am willing to pay market value for the home where we are going to live every time--because I want this house, in this community, on this street. Make a bargain? Probably not. Get a great house and good future investment? Always.

It may not make business sense, but personal real estate ("my home") has a layer that is intangible and unrelated to business school fundamentals. You can't touch it or measure it if you don't do what I do 70 hours a week, but it is absolutely there and it is how we buy personal real estate. Buying a personal home based on business fundamentals is as flawed an approach as buying investment property based on how much you connect with the house. The two are unrelated. Buyers who can not separate these two ideas really struggle with the home buying process.

When you are ready to buy or sell your next Austin area home or investment, give me a call. Let's talk.

Austin Real Estate is Busting Loose at the Seams

If you are wondering why I have not written anything during the past two weeks, it is because Austin Real Estate is just busting loose and booming. Really. It's not just me, but every experienced Realtor that I know that has been in this business for very long and knows what is going on is being inundated with activity right now. Why is that?

Here is what is happening right now:

1. Inventory is low. This means that the number of available homes for sale compared to the number of buyers who are buying homes is low. There are possibly as many buyers as homes. (If you have a home that you are considering putting on the market this year--let's talk soon). 

2. Buyers are "fighting" over houses. Well, not really fighting, but we are definitely seeing an increase in multiple offers--a big increase. This is the most challenging time for buyers, coming out of a national real estate crisis--it can be hard to understand why Austin's market is so fast paced compared to many places where people have moved.

3 Houses that show well and are priced right are selling. While a Seller's Market does not mean that all houses will sell fast or sell at all--it does mean that homes that are move-in ready and priced to market are selling fast--near, at or above the listing price. Unless there are issues or concerns for the buyers, we are seeing homes sell. 

That's the recap. I am sorry that I don't have more time to write, or add to The Austin Golfer this month. At the rate the market is moving right now you may have to call me and talk to me about buying or selling your home--rather than us catching up on the blog. I am available to help you with your Real Estate needs 7 days a week. Just call me--Let's Talk.

Sicilian Baroque Architecture: West Austin Home

This beautiful Sicilian Baroque architecture is situated on over 2 acres of prime
West Austin Real Estate. It sits high above the Westminster Glen Estates hill country. Securely located behind private security gates--this home boasts wonderful court yards, immaculate landscaping, two-2 car garages (4 cars) & over 8300 square feet of luxury home surrounding a beautiful custom negative edge pool & spa. Five bedrooms & Seven bath rooms in the main house & 2 large private “guest quarters” over the garages with additional kitchen, laundry & baths that are perfect for sound studio, private living quarters, business office or children's game rooms. Other features include: Wine cellar, full Theater, Billiards & Bar, Grand foyer & much more.

Showings by appointment.

 

The Austin Golfer: Forest Creek Golf Course and Community

Continuing my series this year on Austin's most challenging golf courses and outstanding golf communities--let's talk Forest Creek Golf Course and community. Located in Round Rock, just 25 minutes from downtown Austin, Forest Creek Golf Course is a semi-private/public course and this course is all about it's name sake--trees and water. With one of the higher slope ratings in Austin golf, this course has more than its share of signature challenges.

Forest Creek hosts one of the most important events in Austin golf each year--The Central Texas Amateur Open. Golfers with ambition to join the professional tour, have to clear the hurdles of the amateur tour first and in Central Texas that begins here.

This course has a few "signature holes" with lakes and beach front property, but if the water doesn't beat you--you may still not be out of the woods. Some of the deceptive holes to watch out for include #9. It starts out with a seemingly simple drive toward water and sand traps, but baring a perfect position in the drive, you are left with a short lay-up with water on both sides and a precise third shot to a very high elevated green. Very demanding green location. In fact, there are a number of holes with elevated or de-elevated greens. And many of the fairways cross the creek or encounter water just before the green. Double dog legs. Narrow gap entries to the green with forests on each side. Long charges up big hills that don't look so challenging on paper--but don't be fooled. There is a reason why the Amateur Open is held here every July.

The Player Development Program (PDP). Forest Creek is one of just a hand full of courses in Austin that offer an incredible program for individuals or families to learn how to play golf from the PGA Pro's. The PDP clinics are held four times a week. In the PDP you can learn how to use all the sticks in your bag--from putting, to driving, short irons, long irons, hill shots, sand--if you want to learn this game in less than 20 years, there is no better way than joining the PDP clinics. And if you live in Forest Creek, it is just that much easier.

It is the dead of winter out now and two things stand out here--golfers are playing golf in their shorts (most days) and this course is in great condition. Coming out of the great drought of 2011, you would never know it from playing at Forest Creek today. The greens are clean and the fairways are rich. If you have not played Forest Creek Golf, or you are looking for a great golf community to live--give me a call and let's go play Forest Creek this week!

Top 10 Things You Should Know Before Buying Your Home

Whether you are buying your first home or this is your third or fourth home, you probably don't do what I do 65 hours a week--working Real Estate transactions and numbers. New homes or resell--there are huge advantages to having a Realtor working for you (for free to you!). What a Realtor knows and how a Realtor negotiates a transaction for his client, is very different from buying a new car or other large dollars negotiation. Realtors are using unpublished information and relationships to work through the best possible deals for their clients--even on new home transactions. Especially on new home transactions. 

Every year I meet buyers who believe they have negotiated the best possible deal on their own with a new home or resell, only to find out later that they did not know what they did not know. Real Estate is a business and this business should not be treated casually or lightly. Being good in this business is more than reading a few listings and the opening door to available homes. Your Realtor should be smarter and more experienced than a taxi driver or open house host.

If you are preparing to buy a home, even if you have purchased a home in the past, you should take just a few minutes and listen to this complete video. And after you have listened to the view, give me a call. Let's Talk.