Timing the Real Estate Market- When is the best time to Sell your home in Austin Texas

Knowing when to sell your home is a big challenge. You never time the market, the market times you! It is just like the stock market, you become a player when you need to buy or sell. No one knows when the market will be its very best- or else we would all be rich, right? We have recently ridden a sellers market since 2001 till the fall of 2007. The national media would have you believe that our local economy is the same as the rest of the nation and our local housing market is just as bad. Do you believe it?

We hope not. Yes, we have had a recent adjustment in the last 2 years for homes for sale in the Greater Austin and surrounding communities and there seems to be more inventory than before. This is “Your Key to Results” for community market updates. You must look at the market not on a global point but in a community and how well it is doing. The factors that affect this are purchase price, interest rate, median income, and of course those days on market. Some properties move faster than others while some seem to sit day after day, week after week, month after month. Have you seen them before?

So many buyers are still waiting for the market to come down in price. For example, if the local prices drop by 5% and the interest rate increases ½% your payment is still the same. You have not gained anything. Do the math! You haven’t saved anything in waiting and only have lost a great opportunity to own your home. For sellers, the time to sell is when you need to sell, don’t ever just try out the market. You’re risking more by just trying that than putting your money in the stock market.

The Raesz Team focuses on three strong keys to helping their clients sell for more than what the local MLS is delivering. Surprisingly about one third of all homes that go on the market never sell. Never! The agent you choose matters because you want to not only find a home you like or sell your existing home, but the Key is to make a safe investment decision. Not all agents are the same. Three key areas are strong negotiation skills, market knowledge, and bringing a perspective to the market. Our team is focused on these three areas in helpng you to make safe investments and feel conifdent in your decisions.

Home for sale during the holidays- How to make a move in Austin Texas

December brings on a whole new set of challenges in both buying and selling a home. The First Time Home Buyer Credit $8,000 has been extended and opens up a whole new set of buyers and offers more for the sellers to move up with a extra $6,500 Tax Credit. The market share is seeing a increase in months on the market that will give buyers more opportunity to negotiate a Fair Market Value

Today there are 10,234 homes on the market for sale. What this tells you is there is a lot to choose from. What to watch is the homes that have a Contract Pending or Sold sign on them. This will indicate the market conditions of what buyers are moving towards or from. Then it is the length of time on the market.

We jsut listed a home in the Buckingham Estates community that is located just north of Slaughter Lane, west of South First, east of Manchaca Road in the Austin Multiple Listing Service MLS area of 10S. This home is at 8770 Birmingham Drive and is a 2 story with a open great room dining kitchen combination with all tile floors down and 3 bedrooms up with 2.5 baths and recent paint, wood window treatments, fireplace, 2 car garage, about 1,363 square feet, and built in 1984 and it looks real sharp. The landscape has been completed and a full sprinkler system put in for easy maintanance. The back yard is fully private fenced and this home will go on the market on Monday for only $165,000. The home owners have prepared this home for sale and have done all the details to get it ready for a quick close so you can move in for the Christmas Holidays. This will definitely be added to our Best Buy List- BBL.

In the meantime…
Many homeowners that were priced too high are removing the home off the market- low motivation and the property either shows up as a Expired or Withdrawn. When a property sits on the market for more than 90 days it is either a Price or Condition that is keeping it from selling- often times price!

Be sure to request our Best Buy List (BBL) for properties we have identified to either be below market value or would make a great investment opportunity. The smartest of agents watch the Months of Absorption (MOA) to determine whether it is a Buyer or Sellers Market. The best buys in any market sell in the first 30 days. Read more about the Tale of Two Markets in this report.

This is the tale of Two Markets and whether a property is just “On or Out of the Market versus to being

“IN THE MARKET”

The amount of days a property is listed is a strong indication if price and condition is correct. The best buys still and always will sell in the first 30 days. Then it becomes a condition of overpricing and condition. It takes a skilled negotiator to help a buyer and seller in any market to get the best price the market will bring. This negotiator is one that studies the market on daily basis and understands the perspective of where the market is going. You can get the actual MLS sales and active listings on our Market Snapshot by signing up at on our web site to get an update on your homes value on a monthly basis. If you have considered buying a home request our newly released book on “How to Buy a Home in Today’s Market” Give us a call today whether you plan to Buy or Sell and let our skilled negotiation team help you to maximize your full potential in Today’s Market at 512-794-6635 or toll free at 800-879-116

Christmas Parties and that time of year- should I sell now?

I’m often asked more now than ever is this the best time to sell our home. Think about it for a moment. What motivation would a buyer in today’s market be thinking about?

One, there is motivation to be in before the holidays and must act quickly to make this happen. Limited time to shop around. There is less inventory to shop around for since the unmotivated seller removed the home for sale off the market. The buyer for homes for sale in the area has already gotten pre-approved for a loan and time is clicking away for great interest rates the way they move around so much. The buyer for a home wants value. It is easier to shop now since the most motivated sellers have adjusted their price to attract the fewer buyers in the market- more affordable!

In before the holidays and Christmas! The buyer wants to bring family and friends over to share their new home together! This is a time of the year when everyone celebrates and to have the new home is very important. I had a family yesterday showing in Buda Texas homes for sale and the inventory for their specific price range, square footage, year built, and bedrooms limited the number to look at. Once we got started it grew less for homes available and we started looking at the newer built and then it came down to only 2. The builder then told us about specials that their office was offering and it was great value. It kept getting better. This is the time of the year when you can make your best buy. If any of the homes for sale that we looked at and the sellers could talk- we would of heard the same offerings if not better. There is only about 15% of all holmes that will sell this month. That leaves 85% of the homes for sale to not- don’t you think that those sellers want to sell also and they will look very very very serious about any offer and not turn them down.

If you have thought about selling and want to know more of when to sell- this starts when interviewing your realtor. Many realtors are already taking off for the Christmas Holidays and have no business. I wonder who is taking care of their clients and how they intend to deal with the many buyers that still must buy. If only 1,784 homes sold last month and there are about 9,000 real estate agents in the local community of Austin- how are they going to stay in business.

Do the math and ask the expert. Homes are selling now and buyers must buy just like sellers must sell. More sellers must sell their home now especially if they have it on the market at this time- their is a reason! The holiday season is a time to rejoice- let’s make it a great time of the year and give as many home buyers and sellers a reason to be celebrating.

In the Buda and Kyle Texas area of the Austin Multiple Listing Service, MLS area of HH there is 350 homes for sale and 116 are currently pending sales- homes under contract! There was 66 that sold in the month of November. That means that there is 5.3 months of inventory or months of absorption. If the current trend continued it would take a full 5+ months to sell all the homes if not another one came on the market. The National Association of Realtors NAR says at any one time when there is greater than 5 months of inventory it is a buyers market. What I was showing in the area I saw some stress in the owners homes that they had to sell- most likely financial reasons. Now is the absolute best time to be in the market for a home in the Klye and Buda area- call me and I will share more with you!

United States Current Loan Crisis!

Nearly 1 in 4 home mortgages are being reported that they owe more than what the home is worth. That is nearly 23% were negative equity position on 30 September, 2009. It is estimated that 2.3 Million had less than 5% equity in their home. The common characteristics shows that the borrower got the home loan between 2005 and 2008, have adjustable rate mortgages ARM’s, and most likely got new construction, and they were on the lower price point of homes in the region.

With the recent upswing in home sales and a slight increase in property values this will help, but it is going to take some time and perserverance. Often times a change in employment, credit issues, emergencies, or other factors will place a home owner in a tail spin that will cause the home to go into pre-foreclosure. This is the time to consider a Short Sale which will save the homeowners credit and allow to get out of the mortgage debt and often times not owe a balance. This is where the lender will sell short for what is owed. This requires a skilled or specialist that can walk you through the process. There are many more steps required and it takes more time and patience.  You can go to www.AustinDistressedHomeSales.com to get more details on how to work through a Short Sale and save your credit and life at the same time.

On another note…..                                                                                                                                                                      

Home sales rose in October by 6.2% from September to a national sales price of $430,000. New-home sales were up by 5.1% from a year ago and the median price range in October was $212,000. It is estimated that there are 239,000 new homes for sale in the United States which is a 6 to 7 month supply or months of absorption. It is reported that the fall has returned to 2003 levels of home sales- Homes for Sale is now on fire!

Now on a local level- Austin has far been a much better place to invest in a home. Austin did not have the record price increases like the rest of the country and therefore had less to fall in value. Homes continue to sell, home values continue to hold, and with the interest rates holding steady and low and the extension of the First Time Home Buyers credit program being extended, well you know the rest of the story. In south Austin there are communities with less than 2 months of inventory. Then go to the Lake Travis, Lakeway, Bee Cave, and Spicewood areas there are months and months of inventory. To get a clear picture it is not what is happening on the national level that is most important, it is a local issue. You cannot say the National Temperature for the United States is 72 Degrees! It is only going to be in the mid 50’s in Austin Texas today and tomorrow the temperature will climb in the low 60’s and next week it will be back in the 70 to 80’s. If you don’t like the temperature as many folks tell you in Texas, just wait- It will change!

Austin and surrounding community Real Estate Homes For Sale update!

As of December 1, 2009 the number of homes for sale in the Austin and surrounding communities including Dripping Springs, Lakeway and Lake Travis including Bee Cave, Bastrop, Georgetown, Round Rock, Kyle, and Buda are down from this time last year by 10.05%. There are 10,324 homes for sale and the new average list price is down by 15.68% to $276,975. In the month of October the average sold price decreased 2.04% to $234,521.

This time last year there were 11,377  homes for sale! The number of pending sales have increased by 11.42% and solds are down this last week by 11.38%. What does this mean to you when your ready to sell or buy your home?

It comes to someone that studies the market and can interpret it to the community and street and the home your about to either buy or sell. An area that used to be hot and had a lot of attention which has recently cooled off somewhat is East Austin. There was so much attention coming from the local media and Austin city council to push for the revitalization and bring it alive. Well the numbers now show that just in MLS Austin Multiple Listing Service area of 5 there are 217 homes for sale and 47 are pending sales and that just 25 sold in the month of November. That equates to 8.68 months of current homes for sale in absorption. The National Association of Realtors NAR reports at any time there are more than 5 months of inventory it is considered a Buyers Market! This is becoming a strong buyers market.

You can get more information by using our Market Snapshot to get all the details of the home your planning on buying or selling- anywhere in the United States. Simply fill out the address, bedroom and bath, and email and it will do the research for you and send it with a map and chart to show the true value in real time MLS.

We have just listed a home with 2 bedrooms, 1 bath, that has 828 square feet built in 1956 located at 3018 East 12th Street in Austin Texas. This home has the real wood hard floors, the lot is completly fenced, a kitchen with appliances, and a large storage building in back along with a 1 carport on the side, and is on pier and beam. It is a single story and needs work to fix it up for all of those handyman. The Austin community schools AISD are Campbell Elementary, Kealing middle school, and McCallum High School.

Belterra Real Estate for Sale in Dripping Springs Texas

The market in Belterra has not had a sale above $377,000 in the last 90 days. There are currently 32 homes on the market in a price range starting at $211,900 and up to $495,000. The prices have continued to adjust downward as much as $50,000. The sellers that are over 60 days need to consider the motivation in selling with the number of homes on the market.

There are 8 homes under contract and 1 active contingent meaning that the buyer for this home will need to most likely have to sell their existing home. This is very risky if the price on theirs in the current real estate market is not at a attractive price. There are 2 conditions that will attract a qualified buyer- Price and Condition. It is the Tale of the Two Markets which cannot be overlooked. The price range for pending sales starts at $210,000 and goes up to $379,000. The average price per square foot for under contract is $106.73

There is 16 that have sold in the last 90 days and that averages out to be 5 per month and with 32 homes on the market that is 6 months of inventory in absorption. The National Association of Realtors NAR says at any time there are more than 5 months of inventory it is considered a Buyers Market. The average sales price per square foot is $98. The largest price drop from Original List Price to Sales Price has been $50,000. Most price adjustments have ranged around $20,000.

This is a great time to be a Buyer in the market in Belterra. The current inventory opens up to a good time in negotiating to find that almost perfect home. The first item your Buyer Consultant should discover is the sellers motivation to sell their home. Then talk about the length of time on the market and review the disadvantages if the seller keeps their home and it doesn’t sell. This can help in a pricing strategy in the offer. It will not absolutely determine the price you will pay and it will for sure help you discover what it will take to buy your next home in Belterra.

Belterra is located off Hwy 290 west on the way to Dripping Springs Texas. It is about half way from the Y in Oak Hill where Hwy 71 and 290 split. It is located in the Dripping Springs Indepent School District DSISD and Rooster Springs Elementary is located in the community. You also have a lot of community parks, pool, hike and bike trails, and several entrances to come in and out. There is nearby Nutty Brown restaurant and live entertainment to catch a touring musical act. Belterra is still building with new home construction and at this time of the year you can make your best price work for you. Call for more details on how to move to Belterra today!

Lake Pointe real estate update & homes for sale report!

Today there are 34 homes for sale in the Lake Pointe community located in Bee Cave Texas near Hwy 71 West and Bee Cave Road next to the Bee Cave Gallaria. The price range starts at $277,900 and up to $1 million. There are 11 homes that have entered the market in the last 90 days and the remainder are most likely over priced to beat the competition- leaving 23 homes that are needing a offer in a hurry or they should probably be removed from the market till next year.

There is 1 home that has a active contingent contract which usually translates to the fact that the buyer must sell their existing home before they can buy. If a seller takes a risk  in this situtation this can either be good if the buyer has priced their home aggressivly or the owner will be left out of making a move or sale and hung out to dry. In this market it can become a huge gamble.

There are 2 pending sales and both are on Windswept and have had 102 and 104 days on the market in a price range of $315,000 to $375,000. There has been no completed sales in Lake Pointe this month so far. This would indicate that it is a strong buyers market in the Lake Pointe community which is in the Lake Travis School District LTISD. Lake Pointe has its own elementary- Lake Pointe Elementary, and a strong and active HOA- Home Owners Association. There are numerous parks, playgrounds, tennis courts, swimming pool and clubhouse. It is only about 15 minutes to Austin and Loop 360. If a move is in the plans- give me a call.

We have just listed a home on 2200 Rimrock which is on a cul-de-sac with sweeping hill country and preserve views with a very private backyard and mature oaks. This 2 story was built in 1999 with 3,312 square feet of all open living dining and kitchen combination of living space. There is a abundant windows and natural light, 2 decks, just painted inside, new ceasar stone countertops, and a whole lot more. It has 5 bedrooms and 3.5 baths! To get more information on this home go online to our web site today!

Briarcliff Lots on Fire Sale- or are they a great bargain!

There are 54 lots for sale in Briarcliff and just 1 pending sale which was on the market for only 57 days.

This year for 2009 there has been only 12 lots that have sold. That supports the 1 pending which is only 1 lot a month on average is selling and with 54 for sale that is over 4 years of invnentory to sell all existing lots and that is without any more coming on the market.

Many lot owners have been adjusting their price to find that point to get a buyer and the buyer that is buying is looking for a great fantastic and of course the best buy of the year deal.

Many builders are not in a position to buy a lot to build a spec home on it. Since there are so many homes sitting empty and facing foreclosure. What this means is you can go and take advantage of a lot of inventory lots and make them a offer which would be hard to turn down. If your considering to build in the next 1-5 years now is the time to move forward. Remember- you make your money when you buy and not when you sell. The current builders are just trying to stay afloat (these are builders that normally build 1-10 homes a year)

Start with a strategy plan with either cash in the bank to buy or a lender that you are pre-qualified with before beginning the journey. Then a real estate agent that knows the process of lot or land purchase and what you will be needing from the start with location, builder selection, amenities of the lot like water and waste water- city hook up or septic, and then what cost will be involved with the home construction. Elevation and buildability of the lot is very important. Most buyers are more concerned about the views of which this is just important when it comes to resale.

The Raesz Team currently has 3 lots for sale in Briarcliff or in Spicewood Texas located on Morar and Moulin. You can go online on our web site or on www.Realtor.com or www.AustinHomeSearch.com  The community is in the Lake Travis School District LTISD and Bee Cave Elementary is located on Hamilton Pool Road in Bee Cave Texas which is only 15 minutes away. You also have the Bee Cave Gallaria only a few more miles east. There you will find lots of shopping, dining, and entertainment. Briarcliff is a lake front community on Lake Travis and has a very active home owners association, nearby marina, golf course, and next to the Travis County park PaceBend with its own boat ramp.

Real Estate Market in Perspective!

In the third quarter the number of mortgages on properties that were behind was 1 out of 7- which is a significant increase from the beginning of this year with 1 out of 10. This is a strong indication that even though the United States government reports that there are more jobs doesn’t translate that everyone is able to meet their mortgage obligation.

Of course this is largely in areas like Nevada, Arizona, Florida, Ohio, Wisconsin, and Michigan. But it’s not to say it is happening in your home town and in your community and on your street or to some family or friend that your directly connected to. Often times when a home owner is faced with a deliquent mortgage they just move- frustrated with the thought that everyone made money when a home was purchased. You don’t make your money in a mortgage unless you buy it right! If you purchased at the top or in a declining market- you will have to sit it out. Bailing on the mortgage is not the right answer. There are many options to conisder.

One- give it back to the bank in a foreclosure or deed in lieu. This has a strong negative impact on your credit for a very long time and can have a direct impact on your job if you have any sort of security clearance. It can also have an effect on your auto insurance since they have been known to go by your credit score.

Your other solution can be a short sale. This is described best by the homeowner being insolvent, unable to continue making the mortgage, and no other resources. This is where the lender will cooperate with the homeowner to sell the home and take less than what is owed on the property. You should work with a CDPE Certified Distressed Property Expert to facilitate so you can get the job done. Many real estate agents choose not to work with sellers that are upside down either because they do not know how or it takes too much time and is way to confusing.

If your faced with having more month than money in the bank account and need help- give me a call so I can help you sort out your choices. My first short sale was completed in 1989 when the word short sale wasn’t even invented. Since then I have done many and became certified as a CDPE. The National Association of Realtors NAR and many outside professional real estate coaching programs like Star Power and Buffini and Company recoginize the value of working with a CDPE and it’s professional designation.

Don’t face the home mortgage alone- give me a call today!

Austin Texas homes for sale real estate market update

Today there are 10,347 Active homes for sale in the greater Austin Texas area which is a decrease from this same time last year of 10.25%. For the month of October the homes under contract were up 37.78% and the number of solds were up as well to 29.37%. This is significant going into the holiday season.

What is helping to fuel the sales and activity is the extension of the First Time Home Buyers credit program that now goes till April 2010. This also includes a credit for the seller who has lived in their home for the past 2 of 5 years $6,500. This will increase 2 sales instead of just one.

For the week of November 15 thru 21 new homes on the market rose 4.59% and pending sales increased 2.95%. Now for sold properties it rose 86.67% compared for this same week in 2008! The sold average price was $221,780 which decreased by 7.51%. 

The local Austin market is doing great- more so in the price range of less than $250,000. The homes priced above $300,000 to 1 Million is suffering the hardest. Buyers expect a lot of price swing to occur and that is putting a lot of pressure on sellers. For those tha either Have or Need to will make this occur- the remainder are pulling off the market. To get a more clear picture of the local market- especially to get a Market Snapshot of your home’s value go online and click on Market Snapshot and enter your address and home details. This will email you a report of your home values compared to your community showing what homes are selling for and how your home compares. This is a much more accurate report and is real time MLS Austin Multiple Listing Service.

A article from the Wall Street Journal with writer Lawrence Yun reported that the supply of homes is at it’s lowest level in the last 2.5 years and the market is getting closer to a balance market. The National Association of Realtors NAR reports that any time you have less than 5 months of inventory on the market that is selling is a Sellers Market. The more you go above this number is a Buyers Market. This is based upon months of absorption which is the number of homes active compared to the number of homes sold each month. This can vary from state, city, county, nighborhood community, and your street. Get yours on the Market Snapshot today!