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Single-family home prices rise, inventory declines in May

Single-family home prices rise, inventory declines in May

Austin Area, Real Estate News
34-year-old Land Development Code continues to hold back housing market AUSTIN, Texas – Decreasing housing inventory paired with strong demand continues to drive Austin’s growing affordability crunch, according to the May 2018 Central Texas Housing Market Report from the Austin Board of REALTORS® (ABoR). In the city of Austin, the availability of housing compared with demand — as measured through inventory — continues to be historically low while median home prices have reached historic heights. The median price for single-family homes in the city of Austin increased 3.7 percent year-over-year to $389,000 in May, an all-time high for the city. While home sales rose 5.9 percent to 1,037 sales, housing inventory decreased from 2.1 months last year to 2.0 months during the same time frame. There were fewer active listings as well,…
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Home sales, prices continue to climb

Home sales, prices continue to climb

Austin Area, Real Estate News
Inventory remains critically low for most price classes AUSTIN, TX–The Austin-area housing market’s declining inventory and robust sales trends are creating an increasingly competitive housing market across all price classes, according to the latest Central Texas Housing Market Report from the Austin Board of REALTORS® (ABoR). “In the Austin-Round Rock MSA, price classes across the board are seeing an increase in demand with a decrease in inventory,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “While new listings are up year-over-year, homes are selling faster than they can be listed on the market. This has led to a smaller number of active listings and an increasingly competitive market for homebuyers.” Within the Austin-Round Rock MSA, new listings increased 5.6 percent to 4,139 listings; active listings decreased 2.8 percent to…
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4 Things a First Time Renter Needs to Know

Austin Area, Real Estate News, REnting
[embed]https://youtu.be/kSM2ouv4HAI[/embed] 4 Things a first-time renter needs to think about are: Budget The Lease Honesty Renter's Insurance Figure out your budget As I said last week, you are responsible for more than just rent, PLUS there are often additional expenses and deposits when you move in. To Move In: Application fee, lease security deposit, pet deposit, first month’s rent, possibly deposits for electricity, gas, cable, phone, and internet. Some apartments may have a fee for parking especially if you want to park in a garage or a covered space near your front door. Also, if you’re coming from your bedroom at your parent’s house, you will need furniture, lamps, dishes, silverware, towels, cleaning supplies, soap, shower curtains, trash cans, toilet paper, and the list goes on. You might even need…
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Top 7 Things to Know Before Moving out of your Parent’s House

Real Estate News, REnting
[embed]https://youtu.be/3GRiqUiKi5I[/embed] You’re done with high school, possibly about to graduate from college, and you want to get a place of your own… possibly with roommates. Whether your folks prepared you for it or not, it’s likely that you have no clue how costly living on your own can be. EVEN IF you have roommates to share the expenses! With a little bit of planning, and a checklist like this one, you can get yourself started on the right foot. Most young adults look forward to renting, but most of these steps can also get you well on the road to purchasing a home. One of the major influencers on setting a foundation for a successful first-time lease application process is showing the prospective landlord that they are making a good…
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FOR SALE: Like New Chesmar Home in Teravista

Austin Area, Listings, portfolio, Selling
Like New, but thousands of dollars less! Bright, natural light and open floor plan, with over-sized outdoor living space. Chesmar's 'Peyton' floor plan (same as model home) features upgraded granite and tile back-splash, and Stainless GE appliances. Master suite with dual vanities and walk-in closet, plus guest room and full bathroom on main. Two additional beds, a full bathroom, and large family room upstairs. Huge utility room. Save money on utilities with green features. Best lot on the block: only 1 adjacent house - green space in back & other side. Close to Westinghouse so easy access to interstate, outlet mall, toll rd. 5108 Pearl Crescent Georgetown, TX 78626 $339,000
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Tax Appraisals vs. Lender Appraisals

Home Care Tips, Real Estate News
[embed]https://www.youtube.com/watch?v=HePrCZNW2YU[/embed]   This time of year, there is a lot of discussion (or complaining, in our region) about APPRAISALS.  There are two types of appraisals that we generally talk about when we are focused on home ownership: Tax appraisals and Lender appraisals. Because property tax bills tend to arrive in our mailboxes in the spring, the question ‘Why is my house value so high?’ or ‘Why is my house value so low?’ is common come April. Then, when going through the process of buying a house, the Lender Appraisal comes into question. So which is which, and do we want either of them to be higher or lower than what we think our house is valued at?   What is a tax appraisal? In Texas, each county has a tax…
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Central Texas housing market ends quarter with strong sales

Central Texas housing market ends quarter with strong sales

Austin Area, Real Estate News
Single-family homes spent less time on the market AUSTIN, TX–The Austin housing market continues to show increased demand, with double-digit percent increases in sales in March 2018 according to the Austin Board of REALTORS® (ABoR). The Austin-Round Rock Metropolitan Statistical Area (MSA) experienced a 10.5 percent increase in sales compared to the same time last year, the March 2018 Central Texas Housing Market Report found. “Last month, 2,714 single-family homes were sold in the five-county Central Texas region, which is more sales than any March we’ve seen on record,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “This type of growth early in the year indicates a strong summer selling season ahead. Those who are interested in buying or selling a home this summer should seek out the services…
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OPEN HOUSE in Old Town Saturday April 7th

OPEN HOUSE in Old Town Saturday April 7th

Austin Area, Listings, Selling
This one is a "must see"! Want to live in an old home but don't want to deal with renovations? This is the home for you! Gorgeous, updated 1940s house in historic Georgetown. Spacious kitchen with granite counters, stainless steel appliances, and custom cabinetry offering storage galore. Breakfast bar AND dining room. Beautifully refinished wood floors, high base boards, lovely lighting fixtures along with updated electric wiring and circuit box and recently leveled foundation (transferable warranty). Three bedrooms, 2 baths in 1,532 square feet. With a 0.24 acre lot there is even room to add on! The 224 square foot Loft is listed as a 4th bedroom at WCAD -- could be a cozy guest room and a sweet second living area. Create your oasis in the large, fenced backyard -…
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Central Texas home sales, prices jump in February 2018

Central Texas home sales, prices jump in February 2018

Austin Area, Real Estate News
Strong population growth causes home prices to spike, inventory to drop in local markets with strongest demand AUSTIN, TX–February is typically a slow month for home sales, but the Central Texas housing market didn’t slow a bit last month, according to the latest report from the Austin Board of REALTORS® (ABoR). The February 2018 Central Texas Housing Market Report showed that while home sales volume across the Austin-Round Rock Metropolitan Statistical Area (MSA) grew in February, areas with the highest market demand and lowest inventory experienced double-digit percent price increases and annual declines in sales activity. “Last month, economists predicted an upwards of 5 percent growth in median home prices within the Austin area, and we have far surpassed that,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “This…
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