Tag Archives: Selling a home

Looking to sell a home in Austin? Doreen Zelma is a real estate professional ready to help. Doreen is a seasoned listing agent and offers only best marketing in Austin.

The Heat is On

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It’s hot out there and I’m not just talking about the weather.  Consistently low interest rates coupled with increases in rent payments have led more buyers to enter the Austin housing market. The main factor that limits a tenant from being a homeowner is the down payment.   There is not always a big difference between a monthly rent payment and a mortgage payment.   So, with some money in their pocket,  I am seeing more and more first time home buyers enter the Austin real estate market who were happy to be tenants 2 years ago.

Austin Real Estate Market

Low interest rates have given people buying power and motivation to be homeowners.  The influx of first time home buyers purchasing lower priced homes has led to very low inventory.   It is the low inventory that has driven Austin home sales into a seller’s market and as a result of that – prices have increased in all price points.

Austin Real Estate Home Seach
Buyers and Sellers need to tread very carefully over the next two months as market data catches up with the shift into a seller’s market.  Multiple offers are being driven by lack of inventory.  Lack of inventory is leading buyers to offer more than list price.  List price and even over list price is leading properties to not appraise because appraisals are based on sold comparables and sales history have not caught to today’s prices.  This will settle out in a couple of months, as the sales history starts to reflect today’s market.  If the house does not appraise though, a buyer is not going to get a loan.

Buying an Austin Home

Buyers are not looking at things with the same set of eyes they were years ago.  Buyers are now recessionistas.  They understand this may not be the market for a deal, but they do care.  That means seller’s still need to show pride of ownership.  The house should still be spotless, the yard should still be mowed and all systems should still be maintained.  Sellers who do not show their homes in the best possible light, will find their house needs to be priced at a deal or it may not sell at all, just like any market.  Buyers don’t mind paying what a house is worth to them, but it needs to be worth it.

Supply and Demand

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We are officially in a Seller’s market.  Typical time on the market is less than 90 days (3 months).  Prices are inching up because the demand for housing is rising in the area and the available inventory is down considerably from last year.

Search for an Austin Home
Apartment hunters are even finding it harder to find a place to rent.  Leases are typically annual whether it is an apartment, duplex or house, so expect rent to increase when it is time to re-lease.  Tenants need to always consider this when they are thinking about transitioning into becoming ‘buyers’.  With a mortgage, your monthly payment is fixed for the life of the loan.  Sure taxes go up, but you generally have an idea what you are paying.  The one thing that inhibits a tenant from becoming a buyer…is the down payment and closing costs. Closing costs can be negotiated a bit with the seller, but you do need some money to put down.

Austin Luxury Home Search
Austin was recently names the top city in the U.S. for job creation and people are moving here (1,500 per day to Texas).  If you are thinking about putting your home on the market now is the time.

Moving to Austin

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Moving to Austin? I have selected randam subdivisions in the greater Austin area and listed some current real estate market data. Average Days on Market below 3 months are considered Seller’s markets, because homes are moving quickly. Neighborhoods with homes on the market between 3 and 6 months are considered neutral. As you can see, the Austin Real Estate market is very strong. Buyers are moving to Austin and with interest rates still low…buyers are moving within Austin.

Moving to Austin?
The data below is specific to single family homes. If there is an area you want me to spotlight -please let me know.

Tarry Town (Central Austin)
Number of Active Houses on the Market: 16
Average Days on Market: 80
Median List Price: $ 797,000

Legend Oaks (Southwest Austin)
Number of Active Houses on the Market: 8
Average Days on Market: 52
Median List Price: $ 291,725

Plum Creek (Kyle)
Number of Active Houses on the Market: 37
Average Days on Market: 41
Median List Price: $ 171,827

Great Hills (Northwest Austin)
Number of Active Houses on the Market: 25
Average Days on Market: 51
Median List Price: $ 495,126

Pemberton Heights (Central Austin)
Number of Active Houses on the Market: 6
Average Days on Market: 120
Median List Price: $ 1,687,500

Circle C Ranch (Southwest Austin)
Number of Active Houses on the Market: 22
Average Days on Market: 43
Median List Price: $ 352,400

Downtown Condos (Central Austin)
Number of Active Houses on the Market: 102
Average Days on Market: 82
Median List Price: $ 455,500

Travis Heights (Central Austin)
Number of Active Houses on the Market: 12
Average Days on Market: 64
Median List Price: $ 694,700

The 7 Year Itch

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I often get asked by buyers first starting their Austin Home Search whether they should buy a home with a master upstairs with the rest of the bedrooms or on the main level.  The answer lies in the buyer based on where he is in his own individual timeline.  Sure, there comes a point when you may not want to be on the same floor as the kids – or maybe even in-laws.  On the flip side, buyers who are just starting to plan to have kids or have young children often prefer to be on the same floor.  The boogie man typically doesn’t make a presence until about 2am, so parents often want to be nearby to deal with late night trouble shooting without being a flight of stairs away. 

Search Listings for Homes for Sale in the Austin MLS

A Custom Home Search for Austin MLS listings can be created to search for homes with the master on the first floor or upstairs only.

Sure, a master on the main level can be helpful in the later years, when the kids are gone and the steps become cumbersome.  Understand, though, as much as we think this is going to be the last house we will ever buy – this little thing called life often gets in the way, which leads to a move. 

What my clients are often concerned about when purchasing a home with the master up is how that might affect re-sale.  What is important to remember is that buyers more often than not, reflect the seller at a given moment in time and that is when they are shopping for a home.  When you are selling the buyer is going to choose your home, for the same reasons you decided to buy it.  Also, there are many neighborhoods where is master is always up, just because that was the trend at the time.  So, in certain neighborhoods – that is the design you are going to be choosing from regardless.

 
My advise – choose a house that is going to work with your lifestyle for the next 7 years.  If you stay in it longer – great, but after 7 years you generally start getting the itch to move or need to move.  If we all had crystal balls the world would be a much different place.

A picture is worth 1,000 words

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The old adage “a picture is worth a thousand words” is no truer than referring to marketing properties for sale in Austin.  If an agent gives no written description about a property, but offers great pictures – buyers will come in droves.  On the flip-side, if an amazing story about a house is advertised, but with no pictures, people will question the validity of the story.  The more pictures that can be shown to market a property – the better.  I’m sure you have seen listings that only show the front of the house.  The instant question that comes to mind is: what’s wrong with the inside?   The only time that it is customary to only show the outside of a house is when you have a tenant living in it.

Austin Real Estate Listings

I typically hire a professional photographer to take pictures of my Austin Real Estate listings.  There are times that I utilize photos in magazines and brochures, in addition to on-line marketing.  The benefit to using a photographer is that the pictures are taken at such a high resolution that they translate well for any medium I choose.  Great pictures are also crisp, making rooms look very clean.  How many pictures have you seen that show the corner of room?  Professionals use a wide angle lens which helps capture rooms better.   If you want to see my latest listing at 7405 Teak Cove, Austin TX 78750 in Jester Point, follow the link.

5905 Paseo Del Toro

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Northwest Central Location Open House Saturday March 3rd from 11:00 –  2:00

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5905 Paseo Del Toro is a Central Austin beauty which combines casual style with modern sophistication.  Ideal floor plan w/master suite & additional bedroom on main level — perfect for office or guests. Large eat-in kitchen w/stainless appliances.  Features:  2 Limestone stone fireplaces, built-ins, hardwood floors on first floor, crown molding, modern master bath w/ glass tile backsplash, glass cabinets in kitchen, wood blinds, ceiling fans in all rooms. HVAC (SEER <14), Water Heater, Roof, updated plus many more! Commuters Delight!

Directions:  From Mopac, go West on 2222, Right on Dry Creek, Right on Paseo Del Toro.  From 360, go East on 2222, Left on Dry Creek, Right on Paseo Del Toro.   From Mesa, turn on Dry Creek and Left on Paseo Del Toro

5905 Paseo Del Toro Updates

  • Composite roof (2006)
  • HV/AC installed 2009 (SEER >14)
  • New water heater installed 2011
  • Gutters replaced  (2008)
  • Whirlpool Convention Oven Range 2009

5905 Paseo Del Toro House Improvements

  • Updated master bathroom with glass tile, new cabinetry, his/her sinks and new hardware, cork floors & lighting
  • Hardwood floors throughout lower living area and master
  • Tile in kitchen and laundry
  • Crown molding
  • Stainless kitchen appliances
  • Garage door and opener (2008)
  • High-end carpet throughout upstairs
  • Designer paint throughout
  • Wood blinds
  • Glass-faced cabinetry
  • Ceiling fans in all rooms
  • Large deck off back door
  • Popcorn removed from all ceilings
  • Updated upstairs bathroom with wainscoting
  • Landscaping in front and back yard
  • Leaded glass front door
  • Updated lighting

5905 Paseo Del Toro Features

  • Master bedroom downstairs
  • Exceptional storage space
  • Limestone fireplace in living room
  • Limestone fireplace in master bedroom
  • Low maintenance yard
  • Second refrigerator space and built-in ironing board in laundry
  • Large garage
  • Insect extermination maintained by ABC Pest and Lawn
  • Fully automated sprinkler system
  • Security system

5905 Paseo Del Toro, Austin TX 78731 Neighborhood

  • Exemplary elementary school
  • Mature oaks & deer
  • Great Location for commuters
  • Minutes to downtown
  • Minutes to lake, walking trails and dog parks
  • Local restaurant within easy walking distance
  • Minutes from grocers, cleaners, daycare centers and places of worship

Austin Real Estate Market Trends Jan 2012

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Austin is hot and I’m not just talking about the weather, though we did have the nation’s high temperature last week with 92 degrees!   Residential houses in the greater Austin area saw an increased volume of sales, with an increase of 10 percent in January compared to 2011.  According to the Austin Board of REALTORS®, the average time a home remained on the market was 85 days in January, which is eight days less than the same month in 2011.  As I have mentioned inventory is low.  How low? There were 6 percent less new listings added in January 2012, than in January of 2011.   January of 2012 also saw 19 percent fewer active homes for sale and 16 percent more home listings pending.

Austin Real Estate Market Data

The Austin Real Estate Market had 4.1 months of homes for sale in inventory in January 2012, which is 1.4 months less than the same month one year ago.  According to the Austin Board of Realtors, this is the lowest inventory the Austin real estate market has seen since they began tracking months of inventory in 2009.

Austin Real Estate Condo Market Data

Austin area estate sale of condominiums and townhomes are up as well, by 27 percent.  According to the Austin Board of Realtors, the median price for a condo in January 2012 was $159,500, which is 4 percent higher than the same month last year.  Active days on the market were 7 percent longer this year, but 121 condos were sold in January 2012, which is 27% more than January of last year.