September 2015 Newsletter

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Our Current Listings

1003 E. 16th Street Georgetown TX 78626

SQFT:
2,688

Gorgeous home situated in the Historic District of Old Town & walking distance to Georgetown Square.

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122 Stetson Trl Georgetown TX 78633

SQFT: 2,949

Motivated seller! Home was inspected Sept 2015, on MLS docs. Elegant Rio Grande Plan with gleaming in-ground pool and spa.

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146 Whispering Wind Georgetown TX 78633

SOLD

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135 Mountain Creek, Georgetown TX 78633

SQFT:1,888

Well-maintained Vernon Hill model sits on a beautifully landscaped corner

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809 Fairmont Dr. Georgetown TX 78628

PENDING

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Austin-area home prices set August record, outpace household income growth in August 2015

Austin Board of REALTORS® releases real estate statistics for August 2015

AUSTIN, Texas – September 22, 2015 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), Austin-area single-family home sales remained high in August, increasing eight percent to 2,943 home sales compared to August 2014. Austin-area single-family median home prices, for both sales and leasing, set a record for the month of August. Median home sales prices increased by eight percent year-over-year to $265,000, while median home lease payments increased by seven percent to $1,600. 

Barb Cooper, 2015 President of the Austin Board of REALTORS¬®, explained, “As Austin REALTORS®, we’ve seen our city expand in ways we never could have imagined, but household incomes have not been expanding at the same rate as the cost of living in Austin. We will continue working with our city’s leaders to find a solution to the complex affordability issues, with the end of goal of providing affordable and diverse housing stock for our growing population that aligns with the actual incomes of Central Texas residents.”  

Recent data from the U.S. Bureau of Labor Statistics shows that approximately 65 percent of Austin-area professionals made less than $50,000 in 2014. Additionally, the City of Austin’s 2014 Comprehensive Housing Market Analysis cited that affordable housing costs should be less than 30 percent of gross monthly income. 

That means for residents making $50,000 per year, a mortgage payment translates to $1,250 per month and would fall in a home sales price range of $200,000–$215,000. To compare, the August 2015 median home price was $265,000 and the median lease payment in Central Texas was $1,600.

Simultaneously, median home prices continue to rise and have increased by more than 30 percent from August 2010 to August 2015, a $65,000 difference over the last five years. 

Average home price increased six percent compared to August 2014 to $329,620. Total dollar volume continued to rise year-over-year to $970,071,660, increasing by 15 percent.  

Monthly housing inventory decreased by 0.1 months compared to August 2014, remaining flat at 2.9 months. This number is still well below the Real Estate Center at Texas A&M University’s balanced housing inventory level of 6.5 months.

New listings increased two percent to 3,364 listings and active listings increased by four percent year-over-year to 6,979 listings. In addition, pending sales increased 11 percent to 2,686 single-family home sales. Homes remained on the market for 42 days in August 2015, the same length of time as in August 2014.

Cooper concluded, “This new report from the Bureau of Labor Statistics provides further evidence of the affordability issue in Central Texas. The growing disparity between rising home prices and what Austin residents can afford, combined with low inventory levels, will continue to drive residents outside of Austin’s city limits to buy a home, putting further strain on our region’s infrastructure and resources.” 

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 “Renee and Gene are a really special team. They have sold three homes for Fred and I and helped us purchase the home we are in now. I recommend them highly in fact I recommend them every chance I get. I have had other realtors none have been as helpful as these two. The real beauty is one of them can work to find a buyer for you while the other can help you sell your home.”

~ T. Heath

HOW SHOULD YOU LIST YOUR HOME: EMPTY OR FURNISHED?

It’s a question with opinions as divided as crunchy or creamy peanut butter, and one debated more furiously than which came first, the chicken or the egg—should you list your home fully furnished or completely bare?

It seems that there’s a bit of contention in searching for a definitive answer on the
matter. Just like every other either-or debate, the answer lies somewhere in between. Some Realtors prefer empty, others prefer a lightly furnished home. But which is right for you?

Why Buyers Look For ‘Homes’ and not ‘Houses’

The simple fact of the matter is that your potential buyers are looking to move into a home and not just a house. As most homes are furnished by their owners, so too should your newly listed home. Furnished homes
allow potential buyers to experience the home as they might someday have it, as well as offering a true-to-life glimpse of space considerations. For instance, the bedroom with a queen bed in it gives a lot more spatial detail than an empty bedroom. It also ensures potential buyers will get a good feel for the home’s flow, rather than just its floor plan.

What To Do If You Have To List Unfurnished

Sometimes we’re not always given the ability to list our home furnished. Maybe
you’re moving out of state, or there are special time considerations that need to be addressed. Whatever the reason, sometimes the ideal is not possible. In this case, it’s important to remember that your home is essentially naked and all of its blemishes are on display for the world to see.

It almost goes without saying that your home needs to be in a state of immaculate cleanliness, with every nook and cranny spotless and polished to absolute perfection. While furniture may be gone, be sure to include the minimum essentials necessary for functionality. Meaning if you’ve taken light fixtures at least leave a small lamp to light the room.

What Furniture To Leave

With all this being said, it’s important to keep in mind that not everything should be put on display when selling your home. Any extremely personal items, like family photos, should be put away. While it may be disheartening to shelve childhood photos, you have to consider that your buyers want to fill the house with their memories, not yours.

Instead, decorate with the same kind of generic embellishments you might find in the living section of a department store. Make sure all of your furniture is clean and spot free as well! It’ll pay in the end to get your couches, rugs and carpets looking sparkling and new before showing it off to potential buyers.


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