Homecity blog

Market conditions have remained predictable in 2016, with not a whole lot changing since the year began. Low unemployment levels, as well as low mortgage rates, have kept the market active despite a lack of homes on the market. However, lack of inventory has been one of the major factors inhibiting market growth. Due to the growing popularity of the DFW area, it doesn’t look like it will rise anytime soon. 

North Texas Real Estate Information Systems (NTREIS) recently released their latest market statistics (October stats released in November) that backed up this prediction. New listings were down 0.3 percent in the DFW area, sitting at 10,610. Inventory shrank 8.9 percent to 24,545 homes for sale. Closed sales were down 2.7 percent in October 2016

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Austin Housing Market Update November 2016

New home sales are up 38% in the City of Austin, providing some much-needed supply into our low-inventory housing market. Even so, demand remains high for already built homes inside Austin proper, despite much lower prices in the surrounding areas. Single-family home sales jumped 7.5 percent in October 2016, despite remaining relatively the same throughout much of early 2016. 

Median sales prices continue to increase in Austin, as is to be expected with such high demand, jumping 6.5 percent year over year to $332,250. However, the median price remains much lower in areas like Hays County at $249,945 and Williamson County at $255,000. In the entire Austin-Round Rock Metropolitan Statistical Area (MSA), prices rose 9.3 percent to $279,000.

Despite

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Home prices continued to climb last quarter to levels not seen since late 2006. Throughout all of this, however, home sales are remaining level and affordability hasn’t suffered too much - thanks to lower mortgage rates. According to TheMortgageReports.com, “Last quarter, more than six in 10 U.S. homes were ‘affordable’ to households earning the national median income, assuming that household used a 30-year conventional mortgage to finance the home, made a modest down payment on the property, and carried good credit scores.”

However, some sources are warning that homes may become too expensive for many first time home buyers as time goes on. Due to unexpected election results, mortgage rates are rising to new 7-month highs, and economists fear they

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food trucks in dallas 2016

Autumn is here, and the weather is starting to chill. It’s finally cool enough to venture outside without melting in the double-digit heat as you desperately search for the nearest ice cream truck. Ok, that was a bit dramatic, but in all seriousness, it’s a great time to get outside and discover some of the parks and outdoor eateries the Dallas/Fort Worth area has to offer. 

While favorites like Cool Haus, Bobadiction, and Happy Camper are everyone’s go-to summer trucks, but there are several options that we think would be best enjoyed during a winter outing. During the fall and winter months, most people want warm, hearty, savory fare that feels homemade – but better. Below are some of our favorite spots to hit when we want comfort food served up

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Demand has remained high throughout 2016, as predicted by most market specialists. This has caused sales and prices to remain high despite heavy reductions in inventory and months of supply across the country. Employment remains high, which is expected to keep sales levels high through the end of the year.

According to the North Texas Real Estate Information System’s (NETRIS) monthly report, closed sales stayed about the same in September 2016 as in 2015 at around 9,303 homes. Pending sales went down a whopping 10.2 percent however, and new listings rose 1.3 percent to 11,332. 

Following trends around the rest of the country, inventory shrank 9.1 percent to 25,005 units. As the job market remains healthy, more and more people continue to move

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 Austin October 2016 Housing Market Update

Home sales in the Austin-Round Rock Metropolitan Statistical Area (MSA) are on the rise, however, inside Austin’s official city limits, it’s a different story. The Austin Board of Realtors (ABoR) recently released their market statistics that show less than one in three central Texas homes were sold in the Austin-Round Rock MSA, and less than one in five homes sold in the Central Texas region were actually sold within the city.

Inside the city of Austin, single-family home sales decreased 4.5 percent in September 2016 to 746 home sales. The Austin-Round Rock MSA shows an increase of 1.3 percent year over year to 2,576 homes sold. Across Central Texas, the number of homes sold rose 6.1 percent.

This shows that people are moving to central Texas,

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sellers talking with realtor

Did you know that, as a seller, your behavior and actions could affect the sale of your home? It may not seem like a huge deal, but trust your Realtor® when they say that every aspect of the home selling process is scrutinized by potential buyers.  

There are plenty of things you can do to ensure the smooth and speedy sale of your home. We asked our agents here at HomeCity Real Estate what they advise their seller clients to do to put themselves (and their home) in the most favorable light.

1. Leave the property. Let’s be honest; most Realtors® agree that sellers should not be lurking around the property when it’s being shown. “Sellers, please leave the property when it is being shown to a buyer,” says Seth Thompson, Broker at HomeCity. It makes

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One of the best things you can do to ensure a smooth home buying process from the beginning is to prepare yourself with a home loan pre-approval. This means finding out if you will be able to borrow from a mortgage lender and an estimate for how much. Surprisingly, a large number of buyers go through their home search without being pre-approved. This is basically like going to the grocery store without your wallet.

We know it can be tempting to skip the more mundane aspects of the home buying process, especially for buyers who are excited to jump right in and start viewing homes. It’s important to remember that in a market as competitive as ours, many sellers will not accept an offer from someone who hasn’t been pre-approved. Why would they want to

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selling a home in the fall

It’s a common misunderstanding among people selling their home that the autumn and winter months are not a good time to sell. While sales do pick up in the spring and summer months and tend to die down in the winter, that doesn’t necessarily mean that listing your home at this time will result in a negative outcome.

In fact, many real estate agents think the later months are a great time to sell. Any time of year is a good time to sell when there are going to be serious buyers ready to consider your home. While there are definitely some buyers that stop their home search towards the end of the year, there are also those that are relocating, want to move immediately, or many other reasons.

“Homes that look great and are priced appropriately will

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people at an open house

When selling a home, it’s important to make a good impression on potential buyers early on in the game. The general rule of thumb is, the more time a house has spent on the market the harder it is to sell.  

A common problem among sellers is that it’s hard for them to see what changes need to be made to their home to sell it quickly. Clutter can go unnoticed, they might not recognize outdated decor and fixtures, or may be unwilling to put away some of the more personalized items in their home. 

These are the times where it comes in handy to have a real estate agent that’s experienced in selling homes fast. Someone to take a good, hard look at the home, and communicate honestly enough to help the seller make some changes.

Even small changes

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