Category Archives: Home Buying

Real Estate purchases from friends and family

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I had a call last week from a former client considering purchasing a house from a good friend. He just wanted me to advise him on the pros and cons of buying a house from someone you know. The best advice I could give him, was to pretend like he didn’t really know him.

When you are buying from or selling to someone you know, its best to keep the emotion out of it. I don’t care if it’s grandma’s house or your Dad’s. At the end of the day, a house is the biggest investment you are probably going to make. Even when I know someone’s in love with the house, I try to remind them that someday, we are going to have to sell it.

If we take the emotion out and look at the facts, including price and condition; it will be easier to assess if it’s a good investment and lifestyle choice for you. Try to remember, when you go to sell it. Nobody is really going to care that this was your dad’s house, or the best man’s at your wedding. They are going to be looking at it from the same eyes, as I described above, so it is prudent that you do the same.

Selling between Thanksgiving and Christmas, Disaster Movies and Central Park

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Sellers who have their homes on the market between Thanksgiving and Christmas typically need to move, which makes this a triple threat season to buy. Interest rates are low, for one.  In addition, sellers who need to move have their homes priced well.  Lastly, not only is there a first time home buyer credit, but now a second time buyer credit as well.

Hey, have you heard the world is supposed to end in 2012?  That gives us 2 years to go!  Here’s a list Austin is not on…of the worst places to live if you are in a disaster movie, click here.

Last week I went on a tour of a new subdivision being built in South Austin, called Central Park. Located off of Stassney Lane, this 42 unit subdivision offers 6 floor plans, of which one plan is a 1-story.  Base prices start at $188,999 and go to $236,999.  Here’s a peak

Markets are Local

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I had 5 people come to my open house on Sunday, which is 5 more than most of my colleagues.  Most were surprised since the house I was holding open listed for $649,000,  in comparison, their properties were priced much less.  As I have noted in the past, markets are local.  

Within the ‘market’ I was in, my home was the exception – not the rule.  

In another area of Austin, that same house may be perceived as expensive, but in Rollingwood and Westlake Hills combined, I was in the 4th lowest priced house out of a total of 16 available for purchase.  In fact, my house, was one of only 8 homes listed for under a million dollars.  

So, for my market, this house was a bit of a head turner because of the price, which led to my open house traffic on a rainy, cold afternoon.

Safety First – for Buyers

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As the year comes to a close, I thought I would take a minute to point out some safety tips for Buyers:

#1 – When you are going to an open house, act as you would if you were going to a store – lock your car door, even if you plan to be in the house for a minute

#2 – If you are looking at a house do not go into a backyard without your agent present.  Without you agent – this is called trespassing.  Additional concerns are letting an animal out that may be confined to a backyard, or getting bit by one.

#3 – If you are at a house and you find the front door to be unlocked.  Do not enter – wait for your agent.  Again, this is trespassing, not to mention, there may be safety concerns your agent is away of, which you may not be.

#4- If you are looking at homes that may need remodeling, where the condition is questionable – leave your high heels home.  Many times, there is nothing more than sub-flooring in these houses, and getting your $400 pumps caught in the floorboards is no fun.We all like to think the world is a safe place.  The truth is it can be a safer place if we all just take some precautions.