Category Archives: Home Selling

What’s the Rush?

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The new year has been off to an interesting start.  Typically, January is a little slow, due to the cold weather and post-holiday stress.  What I am seeing this year, is more activity due to impending dates, that are really just around the corner.  I have already had 2 listing appointments this year, and my open house traffic has been averaging around 7 guests, which again, for January, is considered busy.

 

What’s the rush?

First, interest rates are on everybody’s mind, and everyone wants to know when they are going up.  The Federal Reserve Bank is supposed to stop purchasing mortgage-backed securities issued by Fannie Mae and Freddy Mac.  The program is set to end in March of 2010, and when it does, interest rates are likely to increase and rather quickly.  

 

Another reason for the early activity in 2010, is that the tax credit deadlines for first-time home buyers and move-up buyers are steadily approaching.  You have to be under contract by April 30, 2010 to qualify.  So, if you need to sell a home, in order to purchase, it should be listed now.  As a first time home buyer, you will have more of a selection and less stress, if we start looking now.  First time home buyers who wait until April are going to feel pressure to make a hasty choice. Remember, a home is the most expensive item you will ever purchase, so let it be an educated decision.

 

Lastly, FHA changes are coming!  The Upfront Mortgage Insurance Premium (UFMIP) will be increasing from 1.75% to 2.25% later this Spring. In addition, allowable seller contributions will decrease from 6% to 3% come Summer 2010. This means first time home buyers will need to have more money saved in order to purchase a home.

 

Pets

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One of the most important things I tell students is the importance of listening to clients. Most people think listening comes naturally, and yet it is amazing what is missed when we are not paying attention.My Tarrytown clients have 2 cats, which was a concern when it came to allowing agents to show their home. I listened and having pets of my own, certainly understood their concern, so I offered a few different options on what to do. Pets often bring an interesting challenge. Dogs get excited and generally need to go outside when they have guests. Cats run for cover or want to give you a tour. Unfortunately, some people are afraid of dogs, and others have pet allergies, so they really don’t want Garfield rubbing on their pant leg.

Remember, moving can be a stressful time for your pets, as well. Strangers in their ‘dens’ can be quite unsettling. The best thing to do find a safe place for your furry friends to go whether it is family, doggy day care or even a crate in the garage. The goal is to keep them calm and secure, because if you have one, you know…they can be spiteful little creatures.

Ode to the Texas Fireplace

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Did you ever notice its rarely the biggest things in life that give us the greatest chuckle?  Often, it’s the little things that go unnoticed, until were stumble on them accidentally.  I had one of those moments, when I sold yet another home with a unused fireplace.

Oh yeah.  Did you know Texans love their fireplaces?  It brings some monetary data points to a home, but the intrinsic appeal is huge.  It is often a must-have item for my buyers.  Yes, I can actually make a fireplace, criteria on a search.  What I find so amusing though, is the lack of use these must-have items receive. A fireplace is the only house hold ‘accessory’ I can think of, that is often never used.

I guess its presence brings about an option for use, which simply might be missed without it.  Sure, Santa will use it, even if no one else does.  It’s just symbolic for me of that childhood must-have toy, but once you got – you never played with it.  So, go on Texans – light those fireplaces!  At least, when you fill out those Seller’s Disclosure Notices – you will know if they work!

Austin Neighborhood Market Spotlights

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I have selected some random areas in Austin,
and listed some current real estate market data.

If there is an area you want me to spotlight -please let me know.

Tarrytown

Number of Active Homes on the Market: 23

Average Days on Market: 116

Median Home Price: $589,000

Travis Heights

Number of Active Homes on the Market: 25

Average Days on Market: 108

Median Home Price: $489,000

West Lake Hills

Number of Active Houses on the Market: 13

Average Days on Market: 225 (# is high due to 2 homes active over 600 days)

Median Home Price: $1,249,000

Mueller

Number of Active Houses on the Market: 13

Average Days on Market: 104

Median Home Price: $ 475,635

Northwest Hills

Number of Active Houses on the Market: 18

Average Days on Market: 66

Median Home Price: $ 606,500

Pools

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If you did not already know…I teach the Sell a Home class to both new and seasoned agents who join Keller Williams. Last week, I had a student ask me what I do differently when selling homes with pools. I guess the look on my face wasn’t one that my class expected; because ‘POOL’ is literally and can be figuratively a four-letter word in real estate. For Buyers, who want a pool… houses with them are that much easier to sell. Forget the condition of the house– that oasis in the backyard, especially on a hot day kind of sells itself; doesn’t it? After all, they make great sources of entertainment for children and adults alike. They are an instant vacation.

For Sellers, pools can be more of a hindrance than a help. Not everyone wants a pool. In fact, I’ll say 65% of people don’t. Pools cost money and time to maintain. In addition, there are safety concerns for people with small children. They can also take up a lot of yard space.

So, here are my dos and don’ts for pools, for both Buyers and Sellers.

Sellers: Maintain and update your pool. Nobody wants to buy a money pit (literally). If you can switch to saline – do it.

Buyers: If you buy in a subdivision where most homes have a pool…make sure the pool is up-to-date. You want to have one of the better pools in the subdivision. If you want to know how much it costs to maintain a pool and how much you will spend on electric – the answer is – you don’t want a pool! They can be costly and if you are already watching your budget – a pool is going to blow it.

Now, I am not anti-pools. I grew up having one. My experience is that they are great for certain moments in time. But, remember: you will spend more time staring at your pool, then you will spend in it. Once more, pools don’t necessarily add monetary substance. I rarely, factor them into a list price, simply due to the lower buyer pool they attract. So, if you have one….make sure it shines.

Doreen Zelma

Realtor, GRI

Going Green

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After spending some green on my car last week, it was time to get out and see some green; green construction that is. I traveled from Crestview to Buda to see some interesting green building projects.First, let’s talk about Crestview. I got to watch some 5-star green modular condominiums.

Modular construction lends itself to green standards because it produces far less waste then site built homes. That is, of course, only the beginning, from front and back porches to reduce solar heat gain from entering the home, to on-demand (tankless) water heaters, these homes produced by Town Builders, are extremely energy efficient.

In Buda, I went on a tour of Elm Grove Homes, a subdivision built by GreenBuilders, Inc. Like Crestview, these homes have been awarded the city’s 5-Star energy rating. Located right off of 1626, they are convenient to get to, and close to the elementary school. These homes are so green, they even include gutters with rain barrels that capture water that can be used for landscaping. One story and 2 story units are available. Everything I saw was between $220 and $260k.

Both green projects had blown insulation in the roof – not in the attic floor. It is more efficient to ’seal’ the home at the roof line then to allow the heat to enter the attic. It also keeps molds and other allergens from entering the house.

Do you need my services? I support local Austin, after all I think its only neighborly.

Visit me online at www.SupportLocalAustin.com

or contact me by options below:

Doreen Zelma

Realtor, GRI

The Unforeseen

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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.