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Live Austin Real Estate Channel Updated
May 8, 2008 By Leave a Comment
My Live Austin Real Estate Web Channel has been Updated!
You will always find it at: http://liveaustinrealestate.com/live
I’m always searching for great content and with my new MacBook, I’m looking into giving information about my listings on there as well. This is a brand new media and concept, is there anything you’d like to see? Do you have any great videos (YouTube counts) that you’d like to see added?
The feed should load below:
Why I Love Real Estate Investors
April 28, 2008 By Leave a Comment
Real Estate Investors are:
Smart- Creative
- Ambitious
- Goal-Oriented
- Practical
- Efficient
- Networked
- Logical
I love investors because like me, they make decisions based on logic and numbers, not emotion. They are creative wealth-builders who won’t retire poor. They are business-minded, practical people with a forward-thinking mentality. Investors love other investors, and I love connecting them. Some of the greatest projects I’ve worked on were Joint Venture investment projects.
Austin is a great place to invest in real estate. Investing in Austin is easy; a no-brainer. Where else can you find such consistent growth? Where else can you find such a beautiful and unique city that can’t help but attract more and more businesses and people?
I tried the stock market in 1999 and today my stocks are worth the same as they were then. I make my first real estate investment in Austin in 2002 and let’s just say it worked out well for me. Real estate is something I grew up with, know, and understand. I love investing in it myself and sharing opportunities I find with other smart people.
Most Expensive Home Sale for 2008 (so far!)
April 14, 2008 By Leave a Comment
I’m at it with my numbers again! While I was logged into MLS to update my listings, I decided to do a quick search for the most expensive home sale for 2008 to date (as of 4/14/2008). With so much unfounded real estate panic floating around, wouldn’t the rich and famous be weary of making a home purchase right now? Of course not! Those in the know are taking full advantage of this buyer’s market before it turns. And at the rising rate of multiple offers that my office has seen this year, another seller’s market could be just around the corner. Of course, I still recommend buying if you need to move closer to work or find a larger home for your growing family, not as an investor unless you are really up for it. Like buying stocks, real estate goes up and down and it’s best to be in it for the long hall.
Anyway, the most expensive home sold so far this year was listed at $3,800,000 in Northwest Travis County. The sales price was under asking, but I don’t believe in revealing those details! This home was one of two homes to sell for over $3 million so far this year.
5 homes have sold for $2,000,000 to 2,999,999 and 37 have sold from $1,000,000 to $1,999,999 this year alone in the 4.5 months we’ve had so far.
According to my ABOR MLS search, 4858 homes total have sold so far this year by Austin’s Realtors.
Austin Tops Forbe’s Fastest Growing Metro’s List
March 4, 2008 By 1 Comment
Austin has been making national headlines lately, and good ones at that. While we hear that the real estate market nation-wide is in a slump, we also keep hearing that Austin’s economy is still strong (even if it is no longer booming). It should be no surprise, then that Austin topped Forbe’s list for big metros.
Of course, if one looks at economic growth in the country’s largest 100 metros, the usual suspects jump to the top of the list. With an estimated 32% GMP growth from 2007-2012, Austin, Texas, is the winner for big metros. Atlanta, Seattle, Orlando, Houston and San Jose, Calif., also appear high on the list. What do they all have in common? They’re tech hubs with proximity to universities and a healthy increase in population. Austin’s population, for example, is expected to increase by nearly 15% by 2012, according to Moody’s Economy.com forecasts.
Once again, Austinites, you live in one of the top cities in the nation. Austin is a great place to live, work, make movies, listen to music, and buy real estate!
Homestead Exemption Taxes on Over 65
February 20, 2008 By 1 Comment
Don’t forget that there is more to vote for this year than a president! Politics aside, Texans over 65 years of age could use your support.
In the May election, there will be an amendment for your ballot to correct an error made previously in 2005 when property taxes were reduced by 1/3 for the 2006 and 2007 tax years (don’t forget, property values went up city-wide, so net taxes often went up). Don’t blame this on the elderly, who are the victims of the error attached to this bill.
The State caps property taxes for those who are age 65 or older, or who are disabled. They did not receive the same reduction that the rest of us received when the tax cut for schools passed in 2005.
Early voting will take place April 30 – May 5 from 7 am to 7 pm;
May 6 from noon to 6 pm and May 7 – May 8 from 7 am to 7 pm.
Austin’s market is picking up
February 20, 2008 By 1 Comment
AUSTIN’S REAL ESTATE MARKET UPDATE
My last post was on the 11th, where have I been? Busy, busy, busy. All of a sudden earlier this month, the phones started ringing again and emails where flying in faster than I could answer them. It sounds like the word is out that now is indeed a good time to buy. Offers are coming in to sellers and although they are still lower than expected, sellers aren’t feeling the desperation from November, December and January. Things are looking up.
If you are looking to buy, you still have a great chance. Just don’t insult sellers with unreasonable offers because showing activity is way up. Leave negotiating to the professionals. Listen to your Realtor’s advice in times like these because the little things are still important.
If you are looking to sell, get your house ready! Search this blog as well as the headlines section for tips on how to get your house ready and consult with a professional. This spring should bring plenty of activity, but you still want your house to WOW buyers with the still overwhelming inventory still available. You can sell in this market, but you still can’t expect to have buyers knocking down your door unless your house stands above the rest.
As always, if you would like any more information, that is my job! Feel free to call me at (512) 771-1776 or email.
Keeping you up to date,
Aria Schoenfelt McIntosh
liveaustinrealestate.com
2007 In Real Estate – Austin Market Update
February 11, 2008 By Leave a Comment
|
Month |
# Sales |
Dollar Volume |
Avg. Price |
# Listings |
Months of Inventory |
|
Dec-07 |
1,782 |
446,231,177 |
250,300 |
9,866 |
4.2 |
|
Nov-07 |
1,758 |
431,231,177 |
245,300 |
9,599 |
4.1 |
|
Oct-07 |
1,878 |
450,802,898 |
240,000 |
11,028 |
4.6 |
|
Sep-07 |
1,974 |
492,426,244 |
249,500 |
11,379 |
4.7 |
|
Aug-07 |
2,793 |
713,676,456 |
255,500 |
11,172 |
4.5 |
|
Jul-07 |
2,954 |
742,533,546 |
251,400 |
10,757 |
4.3 |
|
Jun-07 |
3,080 |
781,567,622 |
253,800 |
10,351 |
4.1 |
|
May-07 |
3,002 |
737,963,982 |
245,800 |
9,987 |
3.9 |
|
Apr-07 |
2,562 |
626,175,374 |
244,400 |
9,385 |
3.7 |
|
Mar-07 |
2,589 |
625,191,435 |
241,500 |
8,696 |
3.5 |
|
Feb-07 |
1,902 |
443,541,954 |
233,200 |
7,991 |
3.2 |
|
Jan-07 |
1,635 |
389,728,467 |
238,400 |
7,784 |
3.1 |
So what was the real story with Austin’s Real Estate Market? Is the bottom really going to fall out? And why hasn’t it yet? I feel like a broken record sometimes, but the falling prices we keep hearing about on the news are in totally different markets in the east and west coasts. In these areas, prices flew up by 200, 400, and even 600%. So it’s really no surprise that home prices have fallen in these markets. Here in Austin, we’ve stayed smart as always. Prices consistently rise, on average, 4-6% each year. What we’re seeing in Austin right now is a slow-down, and after the huge boom we saw that peaked in 2006, it really shouldn’t be a surprise. Prices were still climbing steadily in this period, but there were many, many more new homes built to meet a rising demand, and do-it-yourself HDTV fans flocked to invest in their own “flip” projects. At some point in early 2007, supply met demand, but some were still creating supply. And projects begun late in 2006 still had to be finished before being placed on the market. Some areas of Austin saw this more than others, and in particular, Central Austin, East Austin, and South Austin saw the biggest booms. Suburbs saw more production, but not on the scale of these urban areas of Austin. Now, we’re waiting for demand to catch up with supply. We are currently in a buyer’s market, but not on the gloom and doom scale of other parts of the country (or even Austin in previous recessions). If I was thinking of buying a home, I would buy now while deals are good, sellers are willing to negotiate, and the market has some catching up to do. If I were a seller in this market, I would be ready to be patient, and prep my house to it’s absolute peak, hiring professionals to make sure that everything is at it’s absolute best — the best way to ensure that when a house does sell in your neighborhood, it’s yours.
I am still confident that there is no reason to panic. Austin has grown to the point that it can withstand most anything you can throw at it. We have many, many different industries to sustain us. There are advantages to out-growing the medium-city way of life and I believe we are seeing it now. New construction has slowed but is still strong. The best builders out there will survive and others will move to a different industry. This is a strong city now!
Keeping you up-to-date,
Aria Schoenfelt McIntosh
http://liveaustinrealestate.com
(512) 771-1776
Austin Market Update
November 26, 2007 By Leave a Comment
My most common question from buyers:
Then, why hasn’t this house sold yet?
My most common question from sellers:
What do I have to do to get the house sold?
News of gloom and doom have been frightening, but the every-day buyer is still out there. Long-term investors are still here. So why are our numbers still down? The boom in 2006 was well above and beyond Austin’s typical appreciation of 4-6% per year. (see statistics here) We saw many new do-it-yourself’ers inspired by HGTV and the money professional investors were making. They bought at prices the old-timers were waiting out. After all the first rule of investments is “buy low, sell high.” Now the old-timers are getting back in the game, bravely buying in the emerging mini-markets such as condos and the suburbs.
Families who want to buy a home to stay in are still buying where they always do. Many are looking central for the convenience and find flippers carrying projects much longer than they budgeted for who are ready to make a deal. Unlike 2006, this year buyers can look and then think. This luxury was not available to last year’s new investors who had to run through houses the day they were listed without taking full account of all the work that needed to be done. So now we have many homes priced high for the neighborhoods with buyers who can take their time. If you’ve been looking in central Austin, pay special attention to these new construction homes with reduced prices!
Elsewhere, the mortgage woes are keeping some potential home buyers waiting for approval on sub-prime and jumbo loans, but the mortgage industry is catching up thanks to some good-old-fashined free market creativity. Naturally the first to solve the problem has the first pick-me-up. And lenders are hungry too.
So although we are still watching the “months of inventory” climb in Austin’s Real Estate Market, practical buyers are finding great deals they can afford and sellers are learning to be practical again.
This Realtor sees great things ahead in 2008 and 2009. Watch the numbers and think about your investments carefully. If you plan on staying in your home for years to come, today’s low interest rates are likely to make Austin’s steady appreciation a great deal. If you’re looking for a quick buck, Austin isn’t your market. Long-term investors will never panic and are watching Austin carefully. They know that a steady market like Austin is a great opportunity.
Happy House Hunting,
Aria McIntosh
BridgeOne Properties
ariamcintosh.com
aria@ariamcintosh.com
(512) 771-1776
