Wednesday, January 5, 2022 / by Troy Schlicker
Last year was one for the record books in real estate. The pandemic aided in the onset of a buying frenzy, resulting in a 34% increase in property prices in Austin between August 2020 and August 2021.
In the fourth quarter, however, there were hints that the sweltering housing market was beginning to cool. Only 60.3% of sales in October involved a bidding war, down from a peak of 74.5% in April. While this trend could be explained by seasonality, it could also indicate that the real estate frenzy has cooled.
So, what's in store for the housing market in Austin in 2022? Here's where the market is expected to look like in the coming year.
MORTGAGE RATES WILL RISE
Mortgage rates are expected to gradually rise this year after reaching record lows in late 2020 and early 2021, according to most economists. The 30-year fixed-rate mortgage is expected to average 3.5% in 2022, up from roughly 3% in 2021, according to Freddie Mac.
By the end of the year, the Mortgage Bankers Association a. ...
Wednesday, December 1, 2021 / by Troy Schlicker
Every year, it seems the holidays sneak up on us—and every year, that brings with it the dreaded last-minute gift panic. Finding a present that hits all the right notes can be surprisingly stressful, even when it comes to people you’ve known for years.
But have no fear! We’ve lined up a list of unique gifts for every “type” on your list. And since we work in real estate, they’re all centered around home life. From the coffee snob to the sports enthusiast, these presents are the perfect way to bring beauty, function or a touch of whimsy to your loved one’s home this holiday season.
FOR THOSE WHO ARE ALWAYS IN THE KITCHEN
We all know someone whose kitchen is their happy place—but once all the basics are covered, it can be hard to find the perfect present. These gifts will be a treat for the chef, baker, or food lover on your list, no matter how well equipped they are.
1. The Coffee Snob
Glass Pour-Over Coffeemaker - $46
Have a java. ...
Tuesday, November 2, 2021 / by Troy Schlicker
Today's homebuyers are in a difficult situation. Simply put, there are not enough houses available.
In September, Austin had 3723 active listings, which equates to only 1.1 months of home inventory. This is significantly less than the six months typically required to achieve a sustainable supply-demand balance that is considered a healthy market.
Given the limited quantity of available properties, you may need to broaden your search to include both new construction and resale homes if you're a buyer in today's market. However, comparing these two options might be difficult.
Let's take a closer look at some of the aspects to consider when deciding whether to build a new home or purchase an existing one.
How quickly do you need, or want, to move into your next home? When deciding between a new build and a resale, your timeframe can be a deciding factor.
If you choose new construction, you might be shocked at how long it takes to obtain the keys to your n! ...
Monday, October 4, 2021 / by Troy Schlicker
According to the FBI, more than one million burglaries are committed in the United States each year, with victims suffering an estimated $3 billion in combined property losses.1 Fortunately, there are some proven tactics you can use to decrease your likelihood of a home invasion.
Most burglars won’t go to extreme lengths to enter a residence. They are looking for easy access with minimal risk. A monitored security system can be an effective deterrent—homes without one are 300% more likely to be burglarized—but it isn’t the only way to protect your property.2 The strategies below can help to maximize your home’s security and minimize your chances of being targeted by intruders.
Thinking about listing your home? We have some additional recommendations for you. Contact us to find out the procedures we use to keep our clients and their property safe and secure during the buying and selling process.
1. Check Your Doors and Windows
According to home security ...
Wednesday, September 1, 2021 / by Troy Schlicker
Selling your home when you still need to shop for a new one can feel daunting to even the most seasoned homeowner––especially when the demand for new homes keeps rising, but the supply feels like it's dwindling.¹ You're not alone either if you're already feeling drained by the complex logistics of trying to sell and buy a new home all at once.
Searching for a new home can be exciting, but many homebuyers admit that it can also be stressful, especially if you live in an unpredictable market with plenty of competitors. Unfortunately, waiting out a competitive housing market isn’t always the best idea either since listings are expected to remain limited in the most coveted neighborhoods for some time.²
That doesn't mean, though, that you should just throw up your hands and give up on moving altogether. In fact, as a current homeowner, you could be in a better position than most to capitalize on a seller’s market and make a smooth transition from your ol ...