Austin Board of REALTORS® releases May 2017 Central Texas Housing Market Report

Buying, Real Estate News
Single-family home sales volume jumps, tops $1 billion in May 2017 AUSTIN, Texas – June 15, 2017 – Single-family home sales volume experienced strong gains across the Austin-Round Rock Metropolitan Statistical Area (MSA) in May, while home sales dollar volume topped $1.2 billion and set an all-time high for sales dollar volume, according to the May 2017 Central Texas Housing Market Report released today by the Austin Board of REALTORS®. Brandy Guthrie, 2017 President of the Austin Board of REALTORS­®, commented, “Housing is the backbone of our region’s economy and the heart of our communities. Housing demand continues to be at an all-time high in and around Austin, indicated by steady growth in home sales and prices, listing activity and housing inventory. The concurrent gains in listing activity and inventory,…
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Buy, Buy, Baby

Buy, Buy, Baby

Buying, Real Estate News
Investors are buying more student housing properties than ever before. “Last year was the biggest year ever, investment sales-wise,” says Fred Pierce, president and CEO of Pierce Educational Properties. But hang on tight–this year is likely to be even bigger given the pace of transactions so far in 2016. From the start of 2016 through mid-May, investors traded more than $3 billion in student housing properties, up from $2.1 billion over the same period in 2015, according to data from Real Capital Analytics (RCA). In comparison, in 2014, investors bought a total of $3.2 billion in student housing properties over the course of the whole year. The same trends that made last year so busy loom even larger this year. Capital from around the world is interested in finding a…
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What Boomers Want Most

What Boomers Want Most

Buying
New research from Next Adventure Home reveals key home buying insights from baby boomer buyers. Washington, DC – (August 4, 2016) – Hanley Wood and home builder Taylor Morrison have just unveiled new research on what buyers in the 55+ age group want when purchasing a new home. Research revealed includes findings gleaned from a focus group with buyers in this age group as well as a separate survey of recent home buyers age 55 and older gauging values, preferences, and attitudes. Results of both studies are driving the design and development of the NEXTAdventure Home, a model home to debut at the International Builders Show in Orlando in January 2017. Demonstrating current lifestyle and living preferences among the important 55+ buyer demographic, the home is the joint collaboration and…
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What Do Real Estate Pros Look for When It’s Their Turn to Buy?

Buying
What you really need to know about buying — from the people who house hunt for a living. One house you’re looking at has the wraparound porch you’ve fantasized about, but it’s on a high-traffic street. The condo you like has a doorman in the lobby (finally you can become an Amazon Prime member!), but it has no dedicated parking. What to choose? It’s not every day that you buy a home and make decisions about the next three, five, or 10 years of your life. Since you can’t exactly take a home on a test drive, how do you decide? That got us to thinking about real estate pros. When they’ve seen practically everything on the market, how do they choose? Four pros who’ve seen it all share their…
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Dealing with Financing

Dealing with Financing

Buying
As the events of the last few years in the real estate industry show, people forget about the tremendous financial responsibility of purchasing a home at their peril. Here are a few tips for dealing with the dollar signs so that you can take down that “for sale” sign on your new home. Get pre-approved. Sub-primes may be history, but you’ll probably still be shown homes you can’t actually afford. By getting pre-approved as a buyer, you can save yourself the grief of looking at houses you can't afford. You can also put yourself in a better position to make a serious offer when you do find the right house. Unlike pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your…
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5 Tips for Buying a Home

5 Tips for Buying a Home

Buying
Looking to buy a home? Here are five essential tips for making the process as smooth as possible. Get your finances in order. Start by getting a full picture of your credit. Obtain copies of your credit report. Make sure the facts are correct, and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. This will put you in a better position to make a serious offer when you do find the right house. Find a house you can afford. As with engagement rings, there’s a general rule of thumb when it comes to buying a home: two-and-a-half times your annual salary. There are also a number of tools and calculators online that can help you understand how your income, debt, and expenses…
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5 Ways You Didn’t Know You Could Save for a Down Payment

Buying
One of the biggest misconceptions of homebuying? The 20% down payment. Here’s how to buy a home with a lot less down. Buying your first home conjures up all kinds of warm and fuzzy emotions: pride, joy, contentment. But before you get to the good stuff, you’ve got to cobble together a down payment, a daunting sum if you follow the textbook advice to squirrel away 20% of a home’s cost. Here are five creative ways to build your down payment nest egg faster than you may have ever imagined. 1. Crowdsource Your Dream Home You may have heard of people using sites like Kickstarter to fund creative projects like short films and concert tours. Well, who says you can’t crowdsource your first home? Forget the traditional registry, the fine…
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