Movin’ On Out

Last weekend, I went to Brenham, Texas for the first time to attend the wedding of a former client and now friend.   She will be sharing her first home with her wonderful new husband.  I have a few clients having babies right now, and it is an honor to watch their families grow and homes be filled with joy.

No, I don’t sell houses in Brenham.  The furthest I’ll go east is Elgin, but I did find myself in Jonestown, Buckingham Estates, Sunset Valley, and Rob Roy last week.  Where’s that plane?  Maybe I’ll just settle for helicopter, then I could do roof inspections at the same time.

I also, helped someone move last week.  Let’s talk about moving.  I promise you have 3 times more than you think.  When you pack, it’s like adding water to a sponge.  It grows. Take vases for example.  In your cabinet, they take up 4 cubic feet.    When you wrap them in newspaper and pack them, they now take up 8 cubic feet.  They only things you own, that really don’t expand when packing are linens.

So here’s my advice.  Purge first.  If you haven’t finished that project in 3 years, you probably won’t.  If you haven’t worn it in a year, you probably won’t, unless it’s a special occasion outfit.  Oh – and if you still haven’t opened it, just bring it to Good Will.  Think about it, just because you are moving to a new house – doesn’t mean you are going to wear it, use it or even open it.

Also, it will take you 3 times longer to move, and 12 more car loads that you think.  I always recommend you hire a mover.  They really do take the stress off at the end of the day when you are out of steam from packing.  You’ve spent thousands of dollars on your new home, spend the extra $500 on movers. Get grandma’s desk delivered in tact, instead of loading it in the back of Uncle Harry’s pick-up truck praying it will get there in one piece, and hating on him when it doesn’t.

Snakes can rattle you

No, the 5 foot rattle snake did not convey (or least we don’t think it did) when my Buyers purchased a home in the Village at Western Oaks last Fall.  The picture is one of two snakes that were removed from their yard two weeks ago.

The second rattle snake not pictured was 4 feet long, and one of them was pregnant with about 20 babies.  So, needless to say the Smith’s have a snake wrangler on retainer, should any more unwanted guests arrive.

Yes, they live on a greenbelt, but understand this is Texas and snakes are everywhere.  I saw two myself last weekend at Town Lake, so just be aware. Tis the season.

The Hottness Factor

What areas are hot right now?  Honestly, I haven’t come across a section in Austin that I would truly call a Buyer’s market right now.  Inventory seems to be moving no matter what price point you are looking in, provided you are within Austin.  There are other areas surrounding Austin that are feeling the affects of neighborhood foreclosures and short sales, which drive the prices down simply because there is an over saturation of Seller’s wanting to sell, versus Buyers looking to buy.

When I find areas with Average Days on the Market being over 6 months that is where I classify a neighborhood to be a Buyer’s market.  Areas that stay on the market for 4 – 6 months are considered ‘neutral’, and less that 4 months are considered a Seller’s Market.

The only exception to this rule is when I am referring to homes priced over $600,000.  There are simply less Buyers able to afford a home in that price point, so the inventory tends to sit a little longer.

Whether I am working with a Buyer or Seller to determine market price, I certainly take into account how hot a neighborhood is.  I take the last 3 months of inventory and add the sold and pending listings.  I then add the active listings up and determine the average amount of months it is going to take to ‘sell’ that inventory.  The lower the number – the hotter the neighborhood.  How hot is Cat Mountain right now?  It has about 6 months of inventory.  While Parkwood, in South Austin, has enough inventory to last 2 months.

Understand, the overall condition of a home certainly plays an important role in how fast a house will sell.  Looking at inventory flow is just an additional data point I like to refer to.

For Luxury Homes: Sport Courts add Winning Points

I had a client ask me last week what I think about sport courts.  While pools can limit your audience, when it comes to attracting buyers, sport courts don’t seem to have the same effect.  The reason is that they have a broader range of use, than a pool.  For starters, they are not seasonal; after all, you can shoot hoops or play tennis any time of year.

In addition to year round use, outdoor courts are rare enough to be considered unique, which is attractive to buyers who are looking for something extra. More often then not, selective buyers don’t even know what it is they are looking for.  We then look at a home with a sport court, and they just connect to it.

Unlike pools, sport courts generally don’t require as much maintenance as pools – after all, it can be as simple as a painted slab.  Sure you may have to patch, paint and repair some fencing from time to time, but over all they generally require less effort.

Sport courts vary in size and shape, tennis and basketball are most well known.   I often see courts that offer a more universal appeal with a basketball net and backboard.  Now, a sport court is not going to have any appeal to gardeners.  It may also impede on building an addition where the amount of impervious coverage is limited.  For properties within the McMansion Ordinance the ratio of non-permeable coverage can’t exceed 40% of the lot size.  So, while a sport court may not appeal to everyone, it certainly can offer unique twist to a typical home making standout from the crowd.

Lost

Have you ever been on your way home and come across a detour sign?   All you have to do is follow the arrows and eventually you will make it home – right?  Yet suddenly, you feel dazed and confused and for a milli-second you think – where do I go now?
 
The feeling you get when seeing the detour sign, is no different then being in a house with a bad floor plan.  Poorly designed homes come in all shapes, sizes and price points.  I was in several of them last week in Rob Roy, Allandale and Wells Branch.  
 
You don’t always know right away when you are in a bad floor plan.  At some point common sense kicks in and your brain anticipates what room should come next – and when it doesn’t, you instantly feel lost.  It’s kind of like seeing that detour sign.  Your natural driving habit is to follow the path of least resistance.  Your natural living habit is to do the same.  Noone should need to walk from the kitchen through the living room – to get to the dining room table.
 
Paint, furniture and floor plans all evoke a mood within you.  Poor floor plans will sell, just like homes with purple walls and orange carpet, but they will stay on the market longer, and as a result will sell for less money because they are not going to appeal to the masses.  If you are feeling lost when touring a house….it is not going to be your home.

Showing property with a Dash of History, for Good Measure

For starters, I would just like to thank you for referring me to your friends, family and co-workers. My business is based on you, and I am very blessed to have your continued support.

 Last week, I was in Round Rock and then, moved on to Downtown, Austin to view some condominiums.  If you haven’t been to the historical district of Round Rock, it is quite charming. Downtown, I went to the Brown Building and the Nokonah.  Located on W 9th Street, the Nokonah is in the heart of Duncan Park and within walking distance to Whole Foods, restaurants and shops.  

Built in 1940, the Brown Building, on Colorado Street holds a historical designation, which gives owners an additional tax exemption.  The building was originally utilized as office space, some of which was occupied  by politicians,  including former President Lyndon B. Johnson. In 1998, The Brown Building was converted to loft style condominiums.  The Brown Bar and Gumbos restaurant are on the first floor, for your dining pleasure. Here’s a peak

Reminder:   we must be under contract by April 30th in order to qualify for the tax credit.

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

Contact me for real estate needs by:

Phone:  201-286-2504

Email:  doreen@supportlocalaustin.com

Playtime in Austin includes the Tax Credit Hustle

It was an amazing week to be in Austin last week. We started with the Zilker Park Kite Festival, then moved on to SXSW, and it was spring break.  All in all people were out and about exploring this wonderful city we live in.  Where was I?  A little bit of everywhere, buyers are hustling to meet the tax credit deadline, and I am moving them along.  My goal is to have everyone who cares about the tax credit to be under contract within the next week.  

 

Understand, we need our option period to decide whether to go forward with the house, and then there is of course, the financing hurdle.  I am advising my clients to keep the ball in someone else’s court while we shop.  If the Lender wants pay stubs, tax records, employer contact information…whatever it is, let’s get them the information they need, so we can get the file into underwriting as soon as possible.  

 

Lender qualifications change often, so it is important to keep in contact with them.  If for some reason, we fall out of contract and then need to find another house to purchase, we still have time to meet the deadline.