Austin Texas Real Estate Information

Long Hot Austin Summers

2011-08-20T20:54:00Z

As we approach the 65th day of 100 degree temperatures in the Austin area, I am reminded how important it is to choose not only a home that fits your lifestyle, but also, how important the orientation of the home really is. The back of my home faces West, but luckily, my backyard is completely shaded by large oak trees, but some of my neighbors are not so lucky. If your backyard faces West, and you don't have much shade, using your backyard in the afternoon can be nearly hopeless. Of course if...(read more)

Don’t wait until it’s too late on a Short Sale

2011-06-23T20:39:00Z

Recently, I’ve had several prospective clients contact me only days before their property is suppose to go to the foreclosure auction on the court steps. If find myself asking “why do these people wait until it is too late to contact me about listing their home for a short sale?” The answer is not a simple one. I think that there is a lot of psychology that goes into the realization that you are about to lose your home. Most people in financial distress usually put keeping their...(read more)

I don't need a Realtor

2011-05-15T15:19:00Z

This is something that I hear at least once a week when speaking to perspective clients. In the greater Austin area, there is quite a bit of new home construction especially in areas such as Round Rock and Cedar Park. Most of the home builders have a sales office in each one of their communities with on-site sales agents that are ready to assist homebuyers with the purchase of one of their homes. Given that a buyer can just walk into the model home, be wowed by the sales agent and sign a purchase...(read more)

Don't let the news media get you down.

2011-04-15T21:01:00Z

It seems like every time you read a newspaper, turn on the tv or listen to the radio, there is always some economics expert giving his doom and gloom predictions of another pending mortgage meltdown. Though it is true that we are nowhere near the conclusion of the mortgage fiasco, one thing to keep in mind is that real estate is very much area dependent. What I mean by that is that though parts of the country have become figurative ghost towns due to foreclosures and relocations, Austin is one of...(read more)

Beating the Summer Housing Rush

2011-03-25T14:26:00Z

As the weather starts to warm up and the lawn goes from being yellow and dormant to green and vibrant, if your summer plans include either buying or selling a home, then now is the time to begin your research. The last couple of months have seen a rise in interest rates as well as a rise in lending restrictions which can make financing a home more difficult. Throw in the current military operations in Libya and the tsunami and nuclear tragedy in Japan and the economic future seems a bit clouded....(read more)

If you sit too long on the fence, it may fall over.

2011-02-16T18:04:00Z

As everyone knows, the housing market has faced some critical times over the last couple of years. Home values in Austin have not been so devastatingly affected as in other areas of the country but what today’s market has created is a unique opportunity for homebuyers to purchase a home at a near rock-bottom price at interest rates that hadn’t been seen in over 50 years. The bad news, is that ship is sailing away quicker than you might think. As the unemployment rate drops and the economy...(read more)

TMI = Too Much Information

2011-01-19T19:31:00Z

As an Austin Realtor, I use technology everyday to stay in contact with my clients as well as to provide online home search tools as well as monthly real estate updates. But as our world evolves and technology plays an ever increasing role in our lives, sometimes you have to stop to ask yourself, is technology really helping or hurting me? With the majority of all cell phones now being produced and sold as “smart phones”, we literally have the world at our fingertips. You can literally...(read more)

Another year, another set of goals.

2011-01-03T23:29:00Z

As the first days of 2011 begin, I am reminded of the goals that I accomplished over the course of the year. I am also reminded of the goals that I didn't accomplish. Though possibly difficult to believe, all of my goals are not necessarily real estate related. Don't get me wrong, I always have the long-term goal of being the most recognized name in the Austin Real Estate market, but in the short term, I have to be more realistic and more focused about the goals that I set for myself for...(read more)

In the home stretch of completing a short sale home purchase. Part 3 of 3

2010-11-18T22:43:00Z

So you've stuck by your guns and patiently waited while the mortgage bank finished all of their internal evaluations, appraisal and broker price opinions and the closing date is in sight. The one thing to keep in mind with a short sale is that the transaction is not a "sure thing" even though the bank has approved the transaction. There are still some final hurdles that have nothing to do with the buyer. In some cases, as part of a short sale approval, the mortgage bank may require...(read more)

What to know as a buyer purchasing a short sale Part 2 of 3

2010-10-29T21:07:00Z

So you’ve been hard at work with your Austin Realtor searching for the perfect piece of real estate and then one day, you find the home of your dreams at an unbelievable price! The only problem is that it is a short sale. So what does that mean to the buyer? As I’ve discussed before, a short sale is basically, when a mortgage lien holder agrees to accept less than the full amount owed on a mortgage. The seller has to qualify to put his home on the market as a short sale, but what is required...(read more)

If it is called a short sale, then why does it take so long to close? Part 1

2010-10-06T00:30:00Z

This is a commonly asked question that most homebuyers stuck in the roulette wheel of a short sale ask. Five years ago, most people, including Realtors in the Austin area may have never even heard the term “short sale”, but today, it is as common a real estate term as foreclosure or bank-owned. It is difficult to understand all of the inner complexities of why a lender would choose to sell a property for less than what they are owed, but a simple explanation would be that a lender may...(read more)

Being a Realtor on Facebook with sounding like a Realtor

2010-09-01T21:23:00Z

This is the challenge that you’re faced with when you’re an Austin Realtor and you’re competing with 9,000 other local Realtors for the same client pool. With the evolution of social media such as Facebook and Twitter, businesses, including Realtors are scrambling to take advantage of these “free” online tools to stay in contact with current clients as well as to try and attract new ones. Social media has quickly become the mainstream method of communication with 20...(read more)

I can put you on the first page of Google......

2010-08-11T22:54:00Z

As an Austin Realtor I hear this promise at least 3 times a week from different telemarketers calling me to GUARANTEE that my website will be found on the first page of Google's organic search results for a low monthly fee or a one-time up-front charge. Most often than not, they leave out the fact that it may take years or maybe even never before that goal is realized. What might you ask; does this have to do with Austin real estate? The truth of the matter is that the more importance Google places on a website, the more likely users are bound to find it when searching for key terms such as homes for sale in Austin Texas or who is the best Austin Realtor? In terms of exposure for real estate listings, more potential buyers will view the featured listings on my website and will be more likely to view the pictures and virtual tours if Google likes my site and puts it on the first page of its search results.

The real estate market in Austin is highly competitive. With over 8,000 licensed Realtors in Austin, each with a website and in most cases, multiple websites, trying to dominate Google rankings along with Yahoo and Bing can be a full time job. Knowing that currently 70% of all internet users use Google as their primary search engine makes online search engine optimization (SEO) to be more geared toward making Google happy with your site to appear on the coveted "first page of Google". Most of these companies that offer these guarantees of putting your web site on the first page of Google are either trying to sell you paid advertisement space or pay per click as it is commonly known or they are utilizing "Black Hat" techniques which will only yield short term results and may ultimately get you banned from Google altogether, commonly known as the "kiss of death" in SEO terminology. Even worse, some of these companies are located overseas and are trying to obtain your personal financial information to steal your identity. Definitely, the old adage "if it sounds too good to be true, then it probably is" rings as a truism in this situation.

As I mentioned before, competition in the Austin real estate market is extremely fierce. Only a steady stream of relevant information on your website, useful blog posts, timely Twitter tweets and interesting Facebook posts will gain you any favor with Google so that you may one day find yourself on the first page of Google!

For more Austin Real Estate information visit my Austin Realtor site.

Setting realistic expectations when purchasing an older home.

2010-07-26T04:11:00Z

I love being an Austin Realtor and working with all types of homebuyers, but I have to say that sometimes it’s hard to work with first time home buyers who have spent too much time watching HGTV and feel like they know everything there is to know about purchasing a home and real estate in general. I just had a listing of mine fall out of contract because the homebuyer expected the 25 year old home with amazing panoramic views to be in near perfect condition based solely on the sales price. If you’ve ever purchased a home before, especially a resale home, you know that it is always a good idea to have the home inspected prior to closing to identify issues and safety and health hazards that may exist. The home inspection is critical in being able to obtain insurance coverage as well as qualifying for a home service contract to further protect your investment. One thing to keep in mind during the inspection and reporting process is that no home is perfect. Even new homes that are inspected by a third party inspector will rarely be 100% issue free. The primary role of the inspector is to find things wrong with the home and report those deficiencies to the homebuyer. The list of deficiencies are then used to either renegotiate the terms of the contract, or if bad enough, to simply walk away from an unsafe or problematic home by exercising the unrestricted right to cancel during the option period. The way the information is presented by the inspector in the inspection report and in person is very similar to the bedside manner of a doctor delivering their diagnosis. It can be truthful and informative, yet shouldn’t make a mountain out of a molehill. An example of this would be that homes built in the 1980’s were not required to have GFI outlets in the kitchen, but under current code standards, new homes are required to have those installed. Inspectors are required to report this “deficiency” on their report, but they should make it a point to express to the homebuyer that this is typical when purchasing a 25 year old home. Though this does present a minor concern, this is a relatively easy fix that can be negotiated into the revised sales price, a repair allowance or the seller can have it updated or repaired prior to closing. To simply walk away from the house because the inspector made it seem that the house is a possible electrical fire death trap because of electrical outlets not being compliant with current codes is neither reasonable nor a wise expectation when searching for an older home. Unfortunately, some property inspectors have gotten a bad reputation and are no longer recommended by Realtors or other real estate professionals not because they are too accurate or honest, but because they feel it necessary to justify their inspection fee by pointing out truly useless deficiencies such as missing door stops and chipped wall paint. Again, I’m all for making sure that the buyer has accurate and complete information in making a decision, but sometimes too much information can cause undue worry and kill an otherwise great deal.

For more real estate information, visit my Austin Real Estate website at www.romeom.com

Fact and rumors about new commercial developments in Austin Tx

2010-06-29T23:48:00Z

As an Austin Realtor, I try and stay up to date with all of the news and information regarding economic developments that will affect Austin real estate values. Over the last couple of years, there have been many rumors regarding several large companies relocating to Austin and several large scale commercial developments that would help bring Austin into the nationwide spotlight. Some examples of confirmed projects that started as rumors include the new $360 million Schlitterbahn water park resort that is due to begin construction next year in the Cedar Park area that is expected to be built in four phases and will include a convention and retail center. Another verified planned development includes a $250 million Formula 1 (F1 Racing) facility to be constructed in time for the 2012 race year. Though the location for the facility has not been announced, rumor has it that it will be in the Dripping Springs area. Other rumors about projects that have come and gone or might still be in the works include a Six Flags amusement park in the Liberty Hill area. A good friend of mine that works as an estimator for the largest fencing company in the area had told me that the Six Flags corporation had already purchased the land and was getting bids on various phases of the buildout. This was before Six Flags filed for Chapter 11 bankruptcy which more than likely killed those plans. Another more recent rumor is that Disney has been looking at a tract of several hundred acres in the Bastrop area in consideration of building a Disney amusement park. Again, these are rumors that have not been substantiated by any official information from Disney or government officials. The fact that Austin is only 1.5 hours from San Antonio, and 3 hours from the Houston and Dallas areas makes Austin an ideal location for major commercial developments that residents from the entire state can enjoy. So you might ask yourself why would I as a realtor in Austin make an effort to fuel some of these rumors that are floating around? It's not to try and speculate on the potential increase in local property values or to cause people to want to move into the Austin area, but rather, my intent is to provide a different perspective to those living in Central Texas that may have never considered the possibility or probability that Austin is on the verge of becoming a major influence on the economic growth of not only Texas, but the U.S. as well.

To learn more about Austin real estate visit my Austin Realtor website.