Great Freebie: “A Taste of Texas In A Bottle”
Sorry, the freebie isn’t a bottle of wine; however it’s the next best thing. Our friends at Gracy Title have produced a great Texas Wine Guide, “A Taste of Texas in a Bottle”. The guide lists Texas wineries (including those with vineyards and those without) and gives a map and detailed information about the selections and attractions available at each, plus a list of local wine bars, festivals and events and even the history of wine making in Texas.
As this wonderful Fall weather beckons us outdoors, here’s a plan: Download the Free Guide. Hear the call of the Texas Hill Country and set out to explore the Texas Wineries nearby. (And save your money for the wine…)
Gotta tell you, I wouldn’t miss Becker Vineyards and Sister Creek. Do you have a favorite?
Click below for the pdf download. Salud! Sondra/Nov. 2, 2011
Honey, Stop the Car… Spectacular SoCo Home
Austin, the creative hot spot in music and Texas “hip” is also home to some fascinating architecture. This “Honey, Stop the Car!” moment is certainly modern eye candy. Located in the trendy SoCo (South Congress) neighborhood, the home was created to be a 2480 sq. foot work of art. Even if aren’t a modern homes fan, you will find the materials and level of creativity in the home spectacular.
Designed by Spaller Glover Design Build, it is called “The Barcelona Modern”. The MLS listings states, “Huge custom-built round windows punctuate the smooth, white masonry exterior, 11 ft ceilings, Circa lighting fixtures, chevron pattern white oak flooring, amazing Carrara marble kitchen with Wolf range and SubZero fridge/freezer, extravagant master bath lined with onyx tile and focused around a giant hemispherical glass tile soaking tub.” The home also has a gated entry and you can walk to South Congress. All for $875,000 (reduced from the original asking price of $929,000) or $352 per square foot.
Here’s the link to the virtual tour. My favorite things in the home are the Carrara marble (I have Carrara marble envy), the round soaking tub and the master vanity… gorgeous! So, what do you think, could you live here?
http://tours.tourfactory.com/tours/tour.asp?t=786432
Sondra/Nov 1, 2011
How to Sell Your Home in 24 Hours
What does it take to sell your home in 24 hours? Here’s the lowdown from the Fox Business Network. The list contains three strategies we’ve seen work time and again, in good markets and in bad, and a surprising fourth strategy involving social media.
1. Price the property “ahead of the market”
Real estate professionals say a home’s price, relative to everything else on the market, is the main determinant of how quickly it will sell. To elicit speedy offers in the current environment, homeowners must price properties aggressively and also price “ahead of the market,” says Lisette Guzman, a Realtor in Westfield, N.J.
This means closely monitoring local sales trends and pricing it in line with those trends to help demonstrate value. After all, “serious buyers know fair market value,” says Guzman, because they’ve typically scoured the Internet, toured multiple homes and even considered mortgage rates before making an offer. “That’s why all homes that sell very quickly are priced right,” she adds.
2. Turn the house into a model home
Aside from price, the report states the next biggest factor in getting a home to sell immediately is the property’s overall presentation. This includes displaying the home and the furniture like a model home that looks good, feels good and smells good. The article advises you to “hire a stager and professional photographer, emphasize curb appeal, paint the walls, and refinish the floors. If someone’s going to make an offer on a home just after seeing it, they don’t want to worry about repairs or improvements, they just want to drop their bags and move in.”
3. Go heavy on the documentation
One way to prompt immediate offers is to answer every question a buyer might have about a property upfront. Everything from the condition of the home, the repairs and upgrades made to the utility bills and appliance or structural warranties help buyers to move forward. Fox Business Network advises you to “serve everything up on a platter” to move the decision to buy along quicker.
4. Social media is a must
To raise your chances of getting an offer on day one, according to the Fox Business Network it’s critical to put the word out about the home through every possible marketing channel, including Facebook, blogging and other social media.
Their example was Ryan Hukill, founder of the ShowMeOKC Real Estate Team in Edmond, Ok. who recently sold a four-bedroom, three-bathroom home for its $395,000 asking price after he posted a note about it on Facebook. The buyer’s agent immediately got in touch with Hukill and asked for photos. By the next morning, the buyers viewed the home and fell in love with it.
So, it’s not “rocket science” is it? Good, common sense ideas to fly your house off the market in 24 hours. Each strategy represents a lot of hard work though, even the social media strategy. For the complete article, here’s the link:
Sondra/Oct. 20, 2011
Is Social Media Normal? The Latest Nielson Report
The recently released “Nielson Social Media Report” presented some very interesting findings regarding our use of social networks and blogs and the degree to which they represent our no longer new, but now normal, communication. The report opens with the fact that Americans spend 25% of their time online at social network and blogging sites. In addition, 4 out of 5 active internet users visit social networks.
Here’s a few of their other findings:
- The 18-34 age group has the highest concentration of users. ( I guess this was no surprise to a lot of people, but from my experience I suspected the highest concentration might be in high school.)
- Americans aged 35-49 are 4% more likely than other consumers to visit social networks and blogs more than they do any other site.
- 37% of people access social media networks on a mobile phone. Of those using a mobile phone, the over 55 age group jumped by 109% last year and the 35-54 age group increased by 68%. The report states, “Internet users over the age of 55 are driving the growth of social networking through the Mobile internet.”
- And I just have to add this: According to the report, “Tumblr is an emerging player in social media, nearly tripling its audience from a year ago.” Wow, I’ve been curious about Tumblr. Any Tumblr fans out there?
The report is short and an interesting read. Here’s the link: http://blog.nielsen.com/nielsenwire/social/
Sondra/Oct. 17, 2011
Great Deal in Chandler Creek, New on Market
We’ve just listed an excellent short sale opportunity! Short sales such as this one are a great way for patient buyers to get properties at a wholesale price without the condition issues and other unknown factors that are common in foreclosure sales. This home was built by Clark Wilson, a very reputable builder, has 2196 sq. ft. and is priced at $135,000. It has a 5 bedroom family friendly, open floor plan with tall ceilings and the master suite downstairs.
One thing that separates this home from many short sales and 
other homes in this price range is that it is located in a section of Chandler Creek that has amazing parks, trails, creek access, lots of trees and a neighborhood pool. Chandler Creek is also a desirable investment location, being in the path of the tremendous new medical and educational growth coming to Round Rock. To see this great home or just discuss the short sale process contact me at 512.699.7082 or call our office anytime at 512.600.7078.
Dan/Oct. 9, 2011
Mortgage Rates Fall Below 4%
October 5th: The average 30-year mortgage dropped to 3.94% last week, according to Freddie Mac’s weekly rate survey released. Freddie Mac says the rates are the lowest since its survey began in 1971.
October 6th: the Mortgage Bankers Association (MBA) reported that applications for mortgages had fallen. The MBA reported that overall demand was down by a seasonally adjusted 4.3%. Refinance applications were down to 5.2%. The home purchase end of mortgage lending was even more troubling for the housing market. Home-purchase mortgage applications were down 12% from one year ago.
So, essentially we had two reports last week, one indicated that mortgage rates were at lows that were seen in the 1940s and the other reported that demand for home loans has decreased. In other words, as mortgage interest rates have gone down so has the demand for mortgage loans.
There are many factors at play here. Many borrowers today can’t refinance because they don’t have enough equity in their home or they simply can’t qualify for the loan since they have to meet standards that are much tougher than they originally qualified for. In addition, a major factor is tight credit standards. I heard somewhere that in order to get a loan you have to prove to your lender that you don’t need one. Of course, that’s not exactly true, but to home buyers who are jumping through hoops to obtain loan approval, that is exactly what it feels like. But, there is something else too. Whether it is a fear of our economic future or just your job situation, there is a “fear of commitment” among potential home buyers that those of us who work in the housing market every day are very much aware of.
The cardinal rule of real estate forecasting is still in effect: All Real Estate is Local. Our market appears to be on the upswing, but we are still affected by this conundrum: low interest rates have not had a significant impact on homes sales. Hopefully, there are practical programs ahead that will help homeowners refinance their upside down mortgages and initiatives that put more money into the hands of borrowers who want to be home buyers.
Sondra/Oct. 8, 2011
Austin Area Home Sales Up 30 Percent; Does It Matter?
On September 20th, the Austin Board of Realtors reported that Austin area home sales in August 2011 were up 33% higher than August 2010. In July, sales had been up 32%. The median house price was unchanged for the same period. Average days on market stayed at the same rate: 77 days in 2010 and 79 in 2011.
The Chairman of the Board of Realtors said, “With the impact of the tax credits fully behind us, it’s encouraging to see three consecutive months of year-over-year growth in sales volume for Austin”. My response was one of relief, but not surprise. From my experience, March through June, 2010, was a mad frenzy of homebuyers coming out of the woodwork to grab an $8000 tax credit. It was wonderful. What followed from July through the end of the year reminded me of shopping for a Butterball turkey on Thanksgiving morning. The pickings were slim. So, I fully expected our June, July and August to be better. Even so, it was music to my ears, “With the impact of the home buyer tax credit fully behind us…” In other words, “We survived the tax credit!”
But moving on down the report, here’s what I think really matters: The monthly inventory of homes on the market has dropped below six months of inventory for the first time since February 2011. Monthly inventory (commonly called the “Absorption Rate) is computed by dividing the number of homes listed for sale by the number of sales that month. In August, 2011, the Austin area had an average of 5.7 months of inventory compared to 6.9 months in August 2010. When you consider that the A&M Real Estate Center cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced, that is significant! As always, activity varies locally, but overall even from looking from the vantage point of Williamson County sales statistics, things are looking up locally as well. No telling what would happen in the market if it would just rain!
Sondra/Oct. 1, 2011
