The Unforeseen

Have you watched The Unforeseen, the 2007 documentary about the development of Barton Springs?  Directed by Laura Dunn, and produced partially by Robert Redford, it a must see for any Austinite or anyone who loves Austin.  

Redford is personally tied to Austin spending most of his childhood here, even learning to swim in Barton Springs Pool.  If you don’t love documentaries, you should at least enjoy the historical footage of Barton Springs, S. Congress Ave and Circle C.  The movie is shown a couple of times a year at the Alamo Drafthouse, but you can rent it through Netflix and probably Blockbuster.

How to Sell It

I have spent some time in Western Austin.  From West Lake Hills, all the way up to Milwood.  I have to say overall, I am a little disappointed some listing agents and owners aren’t preparing a home as well as they could for sale.  Basic things like replacing the carpeting, touching up nail holes….how about vacuuming?  When you sell your home, it should shine.  If ’shine’ is too much to ask for…how about clean enough for company.  You are going to have company when selling your home. I am calling them company, but they also happen to be your harshest critics.

My top 2 goals as a listing agent, are to sell your home in the shortest amount of time, for the most money possible.  When I’m listing a home, I don’t really care how many homes are on the market.  I just want my listing to shine, so it’s the next one to sell.

Now, I’m not telling you to install $30,000 in granite.  All I am saying is make that Formica the best it can be!

Resale vs. New Construction

I taught the Buyer Consultation class to new agents this week. When you are buying a home, especially in an area where there is still building going on, you need to be mindful of its resale potential. If you are planning on selling in less than 3 years, you may very well be competing against new construction.

One year young – is not new. You will not be able to price your home equal to a new build, if all other things, like lot location, are equal. This is why certain areas have excess inventory right now. The Resale market is slower in price points in areas where new construction going on. Why buy used, when you can buy new? If your home is listed for resale in these areas, you need to be competitively priced. Its like picking a car off the lot, instead of ordering one.

I always say money has a way of making things disappear. So, maybe you can’t ‘pick your colors’ as with new construction, but if a buyer can save some money on your resale…you may be able to make that existing paint color vanish.

I support local Austin, after all I think its only neighborly.

The Age Wave Theory

Downsizing; it’s a trend we hear more often then not these days. For those that buy into the concept that living with less, de-cluttering can be good for the soul. For those, that can’t part with the Christmas plates, they haven’t taken out in 15 years, the concept of downsizing is stressful. At some point, there is a natural progression to live on the lighter side.

The most spending, in your life, is done in your 40’s and early 50’s. After that, you start migrating from a spending lifestyle to a saving lifestyle. It means spending less and downsizing. As baby boomers start shifting from this spending to saving mode, downsizing is becoming more apparent. So part of what is happening with our economy has to do with the majority of our population changing their spending habits naturally with age. It is a slow shift that started about a year ago. It’s called the Age Wave Theory, you can Google it for more information.

I support local Austin, after all I think its only neighborly.

Do the Right Thing

It is now mandatory that all Realtors have their fingerprints taken to obtain my real estate license. I think it’s a good idea overall. Gone are the days of the blue inked mess on a piece of paper though. Now, you role your fingers on a scanning bed and they appear before you on a computer screen.

I also, attended a city wide meeting on fraud. It is amazing how creative people can get, to make something work. Imagine what they could if they used their superpowers for good. Remember, as with anything in life…karma is a boomerang. Try to position yourself with people who do the right thing and tell you what you need to hear – not what you want to hear. There’s a big difference.

I support local Austin, after all I think it’s only neighborly.

Austin Market Snapshot

How is the Austin Real Estate Market doing?

Understand when the number of new listings are low, (meaning a surplus of homes don’t hit the market at the same time), the inventory that is already out there starts to diminish. It is just basic supply and demand. When inventory is low, prices are higher, because there are less homes to choose from. I always point this out to sellers when I go on a listing appointment. It’s not just what competition is out there, but how much of it is out there as well.

Week in Market Review

Units for Sale:

Dec. 27 – Jan. 2, 2010

(compared to the same week in 2008)

New listings down this week 17.04%

Pendings are down this week 0.98%

Solds are up 10.05%

As for Average Prices:

Dec. 27 – Jan. 2, 2010

Sold average sales prices increased 13% to $252,483.

In 2008 it was $223,430 for the same week.

I support local Austin; after all I think it’s only neighborly. Need a house? Contact me below.

Doreen Zelma

Realtor, BA, GRI

Keller Williams Realty

T: 512-531-2914

E: [email protected]

W: www.SupportLocalAustin.com

Time is of the essence

Last week I found myself saying “time is of essence” for varied reasons.   In matters of real estate, it is required for compliance on time sensitive matters.  Option money needs to be receipted within 2 days of the executed date of the contract.  It doesn’t matter if it’s Sunday, or even Good Friday, as my case was.  Earnest money needs to be deposited within 2 business days, with the title company.  

Sometimes, time matters, in terms a response to an offer.  Nobody likes waiting. Seller’s don’t like to, and neither do Buyer’s, there is always one side that is full of hope and anticipation, and there in that feeling lies the joy in what I do.

I support local Austin; after all I think it’s only neighborly.