Homecity blog

september 2016 austin housing market update

It looks like Hays County is growing faster than the surrounding areas, with single-family home sales jumping 23.2 percent year-over-year to 377 homes for the month of August 2016. The Austin Board of Realtors (ABoR) recently released their market statistics, which states that this jump in home sales activity was driven mostly by home sales in Buda and San Marcos. Home sales jumped as much as 67.9 percent in San Marcos, and 45.8 percent in Buda!

This may be because homes for sale in Hays County have a median price of $253,250, which is about $100,000 less than the median price in the City of Austin. That being said, home price still rose 7.8 percent year-over-year in Hays County. Housing inventory in the area increased .4 months to 3.3 months of

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real estate investing for beginners

So a lot of people have been asking how to get started in the world of real estate investing. The truth is, it’s an art. However, it’s not an unattainable goal. Whether you’re just beginning to think about investing or are planning to start your journey, there are several things to educate yourself about. We caught up with HomeCity investment experts Jonathan Bane and Greg Saunders to give you beginners crash course.

Breaking into Real Estate Investing: 

You may be wondering when the best time to start investing is. “It is always the best time to start in real estate,” says Greg Saunders. “What makes the difference is the strategy that you're going with. So, if you're in a low-interest-rate market, as we are now, it makes a lot of sense to do

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July 2015 Austin Housing Market Statistics

Despite having the strongest summer selling season in our region's history, home sales are starting to slow down. The culprit is likely the rapidly rising home prices in the area. While this is great news for homeowners, higher home prices can also lead to affordability issues, and also a cooling of the market. The Austin Board of Realtors cites in their monthly market statistics a 5 percent decrease in single-family homes sold in July 2016 at 2,900 homes.

“I think some of the reason why home sales are declining is rising pricing and affordability,” said Jason Lewis, Senior Loan Officer at Supreme Lending. “I think some is the time of year we’re in. With kids going back to school we always see a slow down this time of year.”

Some say that oil

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There’s a bit of a confusing atmosphere in the DFW area regarding real estate statistics. Prices continue to rise in many communities, yet homes are selling faster than they have in years. Buyers are needing to move quickly if they want to score their dream home, and often they will still need to pay over asking price. While this is mostly great for sellers, it also sometimes puts them in a situation where they are afraid that if they sell, they may not be able to buy a reasonably priced home in the more desirable areas once they close. For this and many other reasons, new listings went down in the DFW 9.4 percent to 13,778. 

Inventory is becoming an issue, as there is a higher demand than supply. Inventory shrank 6.2 percent to 25,926 units in

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realtor showing home

There’s no doubt we’re in one of the hottest real estate markets in the country. This generally means that we’re in what’s called a ‘seller’s market.’ Demand for homes is extremely high as people relocate to Texas, and our supply is having trouble keeping up. This creates a situation that highly favors the seller, and makes for a competitive climate. Unfortunately for potential buyers, this can make the already emotional experience of purchasing a home even more so, with high highs and low lows.

How can one tell when they’re in a highly competitive housing market? There are a few telltale signs.  We asked our expert HomeCity real estate agents how they navigate these rough waters. 

  1. Homes are selling in a matter of days. Homes seem like they
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Written By: Katie Bassett, Trulia

While Texas may be home to the Longhorn and debatably the best BBQ, the great state is also known for one thing in particular, its growing real estate options. From starter homes to premium living, Texas offers the best real estate options for every living situation that are too promising to pass up. The best part? Texas's land size per home is pretty unbeatable. As a buyer, land size should be important.

In fact, 43 percent of Americans want a larger home and see upsizing in their near future, making Texas’ wide open spaces pretty appealing. So, how can this one state have everything a homebuyer dreams about? Trulia’s recent report, “Room to Roam,” dissects each home buying segment to determine the cities with the

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man with a megaphone and money coming out

Buying or selling a home can be a lengthy and complicated process. Real estate agents complete classes and training to learn how to navigate this process best, hone their negotiation skills and learn the tricks of the trade. Years of experience teach them industry best practices, and how to avoid common pitfalls associated with the transaction process. 

Most people don’t get this kind of training, so there are inevitably misconceptions about the industry that real estate agents find themselves explaining to client after client. We asked some of our agents what the most common questions they get are, and what they wished more people knew coming into the market. It’s our hope that their answers can help potential clients get a better idea of what to

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Pokemon Go used in Real Estate Photo credit: Jonathan Bane Real Estate

 

Unless you’ve been living under a rock, you’ve probably seen the flood of conversation on social media involving the (relatively) new game of Pokémon Go. It’s, basically, an app that allows its users to play a newer version of a popular 90’s anime TV show turned card game/video game, in which the primary goal is to collect fictional pocket monsters (Pokémon). These little guys are then trained and pitted against each other in “battles”, with the winner collecting points. There are more elements involved, but that’s the main gist.

The Pokémon craze fizzled out as millennials turned their sights on newer technology, but Pokémon Go now brings the world of Pokémon to life. The iPhone and Android

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July 2016 Dallas Housing Market Update

Supply continues to struggle to meet demand in the DFW area as we hit the mid-year point of 2016. Residential real estate markets are performing as predicted, with the supply of inventory dwindling in this seller’s market. The market is becoming increasingly competitive as buyers attempt to find the best deals in the most desirable areas. Sellers have been getting a higher percentage of their asking price, which is encouraging further growth. 

According to the latest report from North Texas Real Estate Information Systems (NTREIS), new listings were up 1.5 percent in June 2016 to 14,023. Prices also moved higher with an 8.8 percent increase to $236,000. For comparison, at this same time last year, the median sales price in the DFW area were at

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2016 Mid Year Housing Market Update Infographic

Population growth and housing demand have driven home sales and prices up in the first half of 2016. We’re set to outpace 2015 if things keep up the way they have been going, and that’s saying something. 2015 set records for home sales and home prices continue to rise. The Austin Board of Realtors (ABoR) recently release their market statistics which outline statistics for not only Austin proper, but all of the surrounding counties, and the Austin-Round Rock Metropolitan Statistical Area (MSA) as a whole. 

In the report, ABoR states that single-family home sales in the MSA rose 6.1 percent in the first half of 2016 to 14,482 home sales. The median price rose seven percent year-over-year to $282,000. Comparatively, home sales in Austin proper

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