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.

Back to the Future

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Someone asked me last week if selling her house next year would mean selling higher than this year. I responded by telling her if I could predict the future like that – I’d be a very rich lady. When I list a house and even when I represent a buyer I look at trends in the market. Market tends vary about every 3 months based on how inventory is moving, what houses have sold for and what houses entering the market are being listed for. Housing prices are a reflection of both national and global economic factors that affect interest rates, the stock market, the bond market and employment rates to name a few. The volatility of market conditions makes it impossible to predict what your house will sell for a year from now. Sometimes I do go back a year, but it’s not to price a house – it’s just to tell a story.

As I often say, markets are local and that is often widdled down to a particular subdivision or specific condo community. There are markets that are in high demand. Markets can be defined as a subdivision, school district, zip code, etc. So, looking back in time longer than 3 months helps me tell the story of that particular market because – although the list price can’t be predicted a year from now, how hot a specific market is generally can. Price is a moment in time.

I’ll give you an example most people familiar with Austin can relate to, which is zip code 78704. Zip code 78704 is the southern neighbor of Austin’s downtown district. Many consider it downtown and although it certainly has an urban flare, it has a bit more of a small town feeling than a cityscape. Zip code 78704 is the home of Zilker Park and the SoCo, SoLa and SoFi districts which are all popular for their local eateries and shopping. The local amenities coupled with the vast array of affordablility due to a large variety a price points makes 78704 not only hot, but consistently hot. Inventory moves here and will always move here because of the location.

Austin Real Estate Market

Let’s look at the over all story of the Austin market over the first 6 months of 2011 vs the first 6 months of 2010.

  • There were 584 less homes sold in 2011 than in 2010. 
  • The sales volume is 3 million dollars higher than 2010.
  • The average sales price is $14,000 higher in 2010 ($255,000 in 2011 vs. $241,000 in 2010).
  • The median sales price was also up for the first half of 2011: $191,000 vs. $185,000 in 2010.

 So, overall houses there are slightly less houses selling, but those that are – are selling for more money. Austin is looking good.

Beat the Heat

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Austin, like all of Texas, is experiencing severe drought conditions. Record breaking heat and water conservation has caused some shifts in routine for all of us. For me, that means trying to get out early to look at houses whether I am with clients or previewing. I showed land in Smithville last Monday, which is just west of Bastrop. My clients and I started at 10:30, spending about a good 20 minutes at the first lot. As the day heated up, we started to select what lots we actually wanted to get out of the car for. We saw 14 lots in 2 hours.   Heat can be motivating!

 
Shifts in routine also include remembering to water plants after sunset and being mindful of our foundations. Dirt is like a sponge, when it dries out — it condenses. That dirt under your house is condensing too. Cement doesn’t bend, it cracks.  Having a drip system around your house is helpful. A hose with holes placed around your house can help water your plants and your foundation at the same time.

Austin Neighborhood Market Spotlights

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I have selected some random subdivisions in Austin below and listed some current real estate market data.

Understand this data is specific to single family houses.  If there is an area you want me to spotlight -please let me know.

Tarry Town

Number of Active Homes on the Market: 13

Average Days on Market: 42

Median List Price: $ 725,000

Travis Heights

Number of Active Homes on the Market: 25

Average Days on Market: 77

Median List Price: $ 575,000

Lost Creek

Number of Active Homes on the Market: 22

Average Days on Market: 81

Median List Price: $ 608,000

Anderson Mill

Number of Active Houses on the Market: 59

Average Days on Market: 73

Median List Price: $ 172,500

Circle C Ranch

Number of Active Houses on the Market: 33

Average Days on Market: 80

Median List Price: $ 300,000

Mueller
Number of Active Houses on the Market: 9

Average Days on Market: 87

Median List Price: $ 550,000

Where you Live and How you Live

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As I often say, where you live has to work with your lifestyle or it is never going to be a home. I can easily rule out many homes just by knowing how you live. Do the kids eat at a kitchen table or will a breakfast bar do? Do you need to fit a table for 10 in your dining room? Do you barbecue and spend a lot of time in the backyard? Football is a big part of many people’s lives. If it’s a big part of yours — I need to know!

My football buyer isn’t going to buy a house if there is no room for a big TV. Yes, football often trumps where the kids are going to eat. You laugh, but again, this is all about lifestyle. There are many things buyers will forgive like bad paint and carpet, if the house works for their lifestyle.

Sellers need to help too. I was recently invited to a home in South Austin because a fellow agent wanted my opinion on how much the current décor would influence a potential buyer. I entered from the front door, directly into the living room which was painted University of Texas burnt orange. There were 2 large flat panel TV’s on the wall with a gaming console in between them. This was the ultimate UT man cave that only a UT gamer could love. It is very hard for a buyer to mentally separate that lifestyle, with their own. When a seller leaves the house that personalized when they put it on the market — they  send the message to potential buyers that it is their home and they really don’t want to leave. I recommended at least one TV come down and the room to be painted a neutral color.

Curb Appeal

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We often focus on the inside of a home when planning to sell it and forget about the outside. Curb appeal gives a buyer a first impression, not only of your home — but also of you. To a buyer, a well kept home on the outside tends to reflect pride of ownership on the inside. Whether or not the assumption is true, is irrelevant when you are selling your home. You may never get a second chance to make first impression.

When we live for awhile in the same space, we often become blind, deaf and well, sometimes even dumb. How many times have you walked around that overgrown bush that has taken over your walkway, instead of just trimming it back? How often do you look at the weeds in your planting beds and try to convince yourself they are wild flowers? We all do it to varying degrees, so here are some reminders of things that need tending to when you are going to sell your home — clean the gutters, weed and mulch planting beds, cut back bushes, paint or power wash if the house looks dirty.

Sellers worry about the foyer in the entry, because in their minds it is the first thing a buyer will see. The truth is that the first thing a buyer sees is the front lawn.

Flooring has a Fashion Season

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When I bought my first home way back in 1993, I installed hardwood floors. My options were pretty basic, so it was an easy choice, simple traditional oak floors that would match the aesthetic of my 1929 built home. Oh how 18 years have changed the options for hardwood flooring. Now we have engineered hardwood, a greater selection of green materials, exotics and colors galore. We have a variety of textures to choose from and sheens as well, making the selection not only overwhelming, but somewhat confusing, since not all of these newer woods hold up the same over time.

Sometimes we remodel because we want to and other times it is because we have to. Foundation repair may require drilling through those hardwood floors, dishwashers leak or at some point we decide to replace the carpet in bedrooms with wood. It’s important to note that flooring whether  wood, tile or even carpet goes in and out of style these days just like clothing. Matching up flooring becomes a nearly impossible task, so plan ahead. Buy extra tile and wood flooring, so if disaster strikes, you have some backup. My clients picked a home last year, purely because it was original. From the bathroom sink to the tile floors, it was mid-century modern throughout and it was being sold by the owners who built it. The house failed the static test which required the plumbers to go in through the 1965 tile flooring in order to fix the leak. It was so wonderful that the owners had planned ahead and had two extra boxes of the original tile, which really saved the aesthetic of the house. So, when you think about flooring, think ahead it may save you some grief and money in the future.

The Power of Wow

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Every house needs a wow factor. As a listing agent, I try to highlight one when marketing a home to appeal to buyers. Buyers often have their own wow factor when touring a home as it can be a personal thing. A wow factor can be anything: an island kitchen, hand scraped floors, even a great price can turn a buyer’s head. I was in Driftwood two months ago and the neighboring house has an outdoor fireplace that was amazing. My clients and I just stood there and said “wow” in unison.

Austin area real estate is unique in that the hill country landscape adds some natural wow factors.  City, hillside and lake views all add an additional backdrop to many of the homes here.

A wow factor puts the exclamation point on a home and really sells it. Do you know what’s really interesting though? Rarely does the wow factor translate over the internet. You might be in like over the internet, but you won’t be in love until you see it in person. Even when price is the wow factor, it is often hard to see what might appeal to you over the internet.