Realty Pros of Austin

ATX Vantage Point

April 2016 Monthly Real Estate Stats

April 2016 Newsletter

Market update: 2,552 Austin-area single-family homes were sold in March 2016, up 9.3%. Over the same time frame, median home price increased by 7.8% year-over-year to $278,000.
MLS Market Report
Important stats from this past month.

March 2016 Statistics

austin real estate stats

 

 

 

 

 

 

 

 

 

 

 

2,552 – Single-family homes sold, 9.3 percent more than March 2015.

$278,000 – Median price for single-family homes, 7.8 percent more than March 2015.
$347,734 – Average price for single-family homes, 4.5 percent more than March 2015.
54 – Average number of days single-family homes spent on the market, unchanged compared to March 2015.
3,633 – New single-family home listings on the market, 12.2 percent more than March 2015.
4,669 – Active single-family home listings on the market, 1.5 percent more than March 2015.
2,811 – Pending sales for single-family homes, 7.2 percent more than March 2015.
2.0 – Months of inventory* of single-family homes, 0.2 months less than March 2015.
$887,419,074 – Total dollar volume of single-family properties sold, 14.1 percent more than March 2015.
More information from ABOR

__________________________________________

HOT TOPIC

ABoR calls attention to housing diversity issues in Central Texas amidst rising home prices
“Home sales continue to rise throughout the region, but for many Austin-area residents, homeownership is just not a feasible option,” said Aaron Farmer, 2016 President of the Austin Board of REALTORS­®. “Longtime Austin residents are being priced out of their homes and many are unable to live close to their work or school. As a city, we have to start being mindful of how our property development, appraisal and code enforcement decisions impact not only housing affordability, but also the diversity of our neighborhoods and communities.”

Ready the full story here>>

Ready to buy or sell a property?
Contact us here.

See what RPA has been up to!

Check out our new redesigned and SEO optimized website! As an owner this important because it means more visibility on your properties, more tenants, more buyers, and more interest overall! We are already conquering search results for major searches.
www.realtyprosaustin.com

This month’s highlighted articles from our friends at ABJ.
Downtown Austin condos sales detailed; one sold for $142K but don’t get your hopes up
Read More – Austin Business Journal
Austin software maker to grow cybersecurity business with new funding
Read More – Austin Business Journal
Austin mixed-use development divides residents in Shoal Creek neighborhood
Read More – Austin Business Journal
Austin tequila billionaire puts Dripping Springs ranch up for sale
Read More – Austin Business Journal
St. Edward’s University set to build $40M student housing project
Read More – Austin Business Journal
Infill builders push back over Austin’s proposed garage placement rule
Read More – Austin Business Journal
Alcoa puts massive tract east of Austin on market for $250M
Read More – Austin Business Journal
Meet the man tasked with selling Austin to the world
Read More – Austin Business Journal

Earth Day Tips for Your Home in 2016

Each year on Earth Day, the same thoughts enter the consumer’s mind: I would love to help the earth, but I don’t think I can make any major changes to my home right now. This thought is all too common as the everyday consumer assumes environmentally impactful changes have to be something as large-scale as installing solar panels on the roof. In actuality, the changes can be quite simple and wind up saving the consumer a decent amount on their electric bill each month.

Below are a few simple household tips that can both help the earth and reduce the monthly electric bill:

Ceiling Fans
Switching the direction of your ceiling fan depending on the season can save big when it comes to heating and cooling costs – in the summer, ceiling fan blades should rotate in a counterclockwise to create cool downward airflow. In the winter, fan blades should rotate in a clockwise direction to redistribute warm air, which naturally rises to the top of the ceiling.

Motion Sensors
If you intend to install some lights purely for security purposes, motion sensors are a great option. Most of the time they remain off, adding nothing to your electricity bill but if someone approaches your back door or driveway (or wherever else you choose to install the motion sensor light,) the fixture comes to life and illuminates the intruder.

LED Bulbs
LED lights are praised for their low energy consumption, impressive durability and high performance in cold environments. These bulbs can be used within the home to create a modern look as well as in exposed fixtures without fearing problems with rain and snow. LED bulbs are also known to last drastically longer than traditional bulbs requiring less maintenance on the consumer’s part.

Dimming Capabilities
Installing dimming capabilities allows the consumer to place outdoor lighting above a seating area at the precise brightness you need sparing the need to use unnecessary electricity. When relaxing with a glass of wine, dim the lights for a more private, romantic setting. When you have friends over for a game of cards, brighten the lights so everyone can see well.

Updating Appliances
Often, when a consumer buys a new refrigerator, they will take the old working fridge and move it to the basement or garage. Keeping old, outdated appliances will not only increase a consumer’s carbon footprint but will also strain their electricity bill. It will also act as a large waste of energy as older appliances use more energy than newer, Energy Star appliances. If your appliance was made before 1990, it is recommended that it be replaced with an EnergyStar model that will use far less energy on a daily basis.

Unplugging
More often than not, the best energy-saving tips are the simplest, like unplugging the phone after it’s finished charging. It is not enough to simply turn off devices with power adaptors as they will enter standby mode and continue to consume power. A great way to ensure that the devices are off when not in use is to use a power strip that has an on/off switch for a quick manual shutdown. Items that are known culprits of consuming energy when not in use are: battery chargers, computers, game consoles, TVs, DVRs, printers and high-end sound systems.

 


 

Realty Pros of Austin

If you’re thinking about buy or selling your home in Austin, Texas reach out to our team of experts and we will guide you each step of the way.

April Monthly Newsletter

Events, Real Estate, Giveaways, Oh My!

Realty Pros of Austin – April 2016 Newsletter
View this email in your browser

April 2016 Newsletter

Quick Market Update: Austin-area single-family home sales rose 3% year-over-year in February 2016. Over the same time frame, median price increased 8% to $269,900. Austin homeowners are quickly seeing an increase of value in their homes.

THINGS TO DO IN AUSTIN

This month’s top events: April 2016

Euphoria Fest April 7 – 10 (Concert)
Throwback Thursdays at Icenhauer’s April 7 (Rainey)
Keep Austin Beautiful 2016 April 9 (FREE)
29th Old Settler’s Music Festival April 16 -17 (Salt Lick)
Willie Nelson & Merle Haggard (RIP Merle!) April 16 (Whitewater)
MotoGP at Circuit of the Americas April 8 to 10 (COTA)

Check out more events at do512.com

Monthly Spotlight: March Madness Bracket Challenge Winner!

We hosted our First Annual March Madness Bracket Challenge! We had agents, brokers, friends and even clients all join in on the fun! This year’s winner of $200 was Will Mitchell of RenovateSimply! HUGE thanks to everyone who participated. Until next year, we hope to see you all again!

will mitchell - march madness winner

 

 

 

 

 

 

 

 

 

 

 

Congrats to Will from the Realty Pros Team! 

Make sure to like us on Facebook and stay up to date with giveaways and events! Like us here: FB.com/realtyprosofaustin

REAL ESTATE ADVICE

Thinking about buying in Austin?
Buying a home is a great investment with home values set to only continue to increase in the coming years. Austin defies all other areas when it comes to real estate due to our growing economy which is diversified with a multitude of industries along with so much opportunity for growth. If you’ve been thinking about buying, reach out to one of our neighborhood real estate experts. We will guide you each step of the way.

Want to sell a property?
Get a free home valuation from us and learn more about our real estate marketing services. Contact us here.
________________

Search New Listings
All Properties for Sale
Downtown Condos
Search all real estate available for sale and lease at: realtyprosaustin.com

Get in touch now to talk to an agent: 512-401-3330

WE’RE HIRING!
Come join our growing company. We offer an extensive list of products and services that will enable you to become a top agent.

FEATURED AREA: ROSEDALE
Nestled in Central Austin, Rosedale, one of Austin’s oldest neighborhoods features quaint cottage style homes.
QUOTE OF THE MONTH
“There is a freedom you begin to feel the closer you get to Austin, Texas.”
– Willie Nelson

POPULAR ARTICLES RECENTLY SHARED

Austin joins nationwide TechHire program to meet workforce needs
Paid tech internships in Austin will be provided to as many as 220 graduates from accelerated training programs aimed at veterans and low-income residents, an extention of the White House’s TechHire initiative that was launched last year. Microsoft Corp., Google Inc. and IBM Corp. will advise or work with the city of Austin on the initiative.
READ FULL ARTICLE HERE

Goldman Sachs to acquire fast-track Austin startup
Honest Dollar Inc., a tech-based financial services startup, has agreed to be acquired by a division of Goldman Sachs Group Inc. (NYSE: GS).The Austin company that was founded only about 16 months ago will stay in Austin and operate as part of the investment management division of Goldman Sachs. Honest Dollar employs 25 workers.
READ FULL ARTICLE HERE

These are the 5 most charming neighborhoods in Austin
It’s a beautiful day in the neighborhood, and Austin boasts five areas that would make even Mr. Rogers want to pick up and move. That’s according to apartment search website RentLingo, which created heat maps across the country to determine which local neighborhoods have the most charm.
READ FULL ARTICLE HERE

Austin ranks among the hottest rental markets, and we know what that means
Apartment supply is barely keeping up with demand in Austin, which Zillow just named one of the 10 hottest rental markets in the nation. A slew of new buildings going up, rising rents, and competition for those units all fuel the frenzied market, making Austin the No. 8 most competitive of them all.
READ FULL ARTICLE HERE

Former NYC mayor lays out path for Austin’s future success
Former New York City Mayor Rudy Giuliani urged a private group of Austin business executives to push for dedicated infrastructure funding to …
READ FULL ARTICLE HERE

Home of the Day: Rare and Desirable W Condo with Lake and City Views
Rare to the market, the most desirable Southwest corner three bedroom residence known as the 3E with an incredible floor plan showcasing dramatic lake and city views. This 3,498 square foot corner residence features imported European wide-plank hardwood floors throughout, Miele appliances, Bulthaup cabinetry, 10″ ceilings, automatic solar shades, custom built-in bookshelves, a large outdoor living area which is truly an extension of the residence and a gourmet kitchen with a large custom pantry, wine storage and a separate service entrance.
READ FULL ARTICLE HERE

Realty Pros of Austin – Lakeway Office COMING SOON!

Buy. Sell. Lease. Invest.

Austin Homes for Lease

Search Austin homes for lease in all areas. Find available properties to rent around Austin, Texas. Log in and submit a request to view a certain property and have one of our real estate agents & REALTORS guide you to finding your rental in Austin.

 

SXSW Guide

SXSW can be overwhelming to first-timers. We’ve created this guide to help you prepare for the adventure ahead. By now you should be registered and have your housing arrangements sorted.

Below we’ll cover some items to get ready for SXSW and a few tips on how to do SXSW. The SXSW Registrar has emailed registrants a “Before You Leave Home” email that contains a Registration QuickCode. The Registration QuickCode helps get you in and out of the registration hall so you can start doing South By.

Check back as this page is updated throughout the 2016 season.

ONE TOOL DOES IT ALL – GET THE SXSW GO MOBILE APP

We cannot overemphasize the importance of downloading SXSW GO, our official mobile app for getting the most out of attending SXSW 2016. Browse all events and speakers, and create your personal schedule, synchronized through all of your devices using a login system. Find your friends and connections to see what they’re doing, and network with thousands of other attendees. Get information on exploring Austin, navigate the Trade Show, and stay connected to the social world. Discover new events through curated recommendations based off of your SXsocial profile tags. SXSW GO is available on the App Store and Play Store – download and learn more here.

PACK FOR EVERY OCCASION

SXSW is more than just a conference. You’ll be attending sessions, meeting potential clients, attending screenings, networking at clubs, and hopping from one showcase to the next. If you’ve ever been to Austin, you know that the weather can be unpredictable – be sure to check weather listings before you leave. That being said, Austin is a really casual city. If you want to attend panels in your pajamas, we won’t judge.

You’re going to be doing a lot walking, so unless you’re dressed to impress for SXstyle, be comfort-conscious when selecting shoes to pack. If you can manage it, you may want to have a change of shoes available. Your feet will thank you. We strongly recommend that you pack sunscreen and a reusable water bottle. The Texas heat can be dehydrating and the air in the convention center can be quite dry, but you’ll find water stations throughout the building to refill your bottle and stay hydrated.

BOOK & DOUBLE CHECK YOUR FLIGHT

It’s never too early to book your flight to SXSW. Airline prices seem to take off faster than the planes themselves the closer you book to your travel date. Use our handy travel tool to book flights early at the best available rates to save – you have much more important things to spend your money on, like tacos and barbecue. At travel.sxsw.com, you can find flights from a multitude of airlines to Austin from your hometown, with the option to sort by price, duration, and number of stops. The skies get busy in Austin around March, so be sure to check for flight delays before leaving for your airport.

Once you arrive in Austin, don’t wait around for a ride at the airport! If you’re anything like us, you want to start experiencing SXSW as soon as possible. After you book your flight, switch over to the car hire tab in the travel tool and have a ride waiting for you when you fly in. Browse more Transportation Options below.

INTERNATIONAL TRAVEL

Austing-Bergstrom International Airport now offers non-stop travel to London Heathrow, Mexico City, and Cancun. As with our domestic registrants, we encourage our international registrants to use our travel tool to guarantee you find the best price possible for your flight. While most US carriers have flights directly to Austin, many International travelers will need to catch a connecting flight from another hub in the US. For registrants flying in from the UK, Australia, or New Zealand, the agents below will work with you to ensure you find the best rates possible:

Transatlantic Air Travel The Tour Company, our recommended travel vendor, offers great Transatlantic airfares from London with add-ons from other cities in the United Kingdom and Europe. See www.thetourcompany.co.uk. Contact Louise Fisher by email LouiseF@thetourcompany.co.uk or phone +44-141-353-8800.

Entertainment Travel Partners is SXSW’s preferred air travel provider from Australia and New Zealand. Visit them at www.travelpartners.com.au. Contact Brad Thomas by email bradt@travelpartners.com.au or phone +61-2-9280-3767.

Be sure to double-check your Visa status a few weeks prior to leaving for the festival. For more information, visit the US Bureau of Consular Affair’s Visa Page or our Visa FAQ.

KNOW YOUR HOTEL

Be sure you know the complete name of your hotel. We have a lot of hotels, some with very similar names. Most brands operate more than one hotel in Austin, so write down your hotel’s address to tell your ride to avoid confusion. This is the easiest way to quickly get to your room, drop off your luggage, and get downtown to start having fun! If you are not planning to travel with the credit card you intend to use to pay for your room, be sure to fill out a credit card pre-authorization form and fax or email it to your hotel.

Any desired changes to your reservation can be made by pressing the ‘Request for Change’ button at the bottom of your housing confirmation, your SXsocial account, and your SXSW shopping cart. Contact the SXSW Housing Department by calling 512-467-7979 or email housing@sxsw.com. The housing department is here as a resource for you and works tirelessly to ensure your rooming needs are met.

BADGE PICKUP

Visit our Bade Pickup page for pickup locations and times. Plan to arrive early and to help expedite the process, link your badge with SXsocial and upload a color photo to use on your badge. If we don’t have a photo for you, we’ll be happy to take one for you at pickup.

After pickup, badges must be attached to a lanyard worn around your neck at all times. If your badge is lost, stolen, or confiscated, reissues will only be offered at the walk-up price.

DRIVING

We want you to experience all that SXSW and Austin has to offer, so we ask anybody planning to drive in the Austin area during the festival to consider saving time and stress by using alternative forms of transportation. Parking downtown is a genuine commodity during the festival, and street closures may make it difficult to get around. If you will be driving an automobile and plan on parking near the Austin Convention Center, or anywhere downtown, here is a metered parking availability tool and garage and lot parking map.

TRANSPORTATION OPTIONS

Mazda, Super Sponsor and the official automobile partner of SXSW, is bringing a fleet of Mazdas to Austin to help you get to every inspiring event on your checklist. This service is complimentary, and you can save time by pre-registering for Mazda Express or sign up at the Austin Convention Center.

Lyft is the official ride sharing partner of SXSW 2016. If you’re a first time user, download the Lyft app and use the code SXSW2016 prior to April 30, 2016 for a $20 coupon towards your first ride. You can find more information on Lyft, and other transportation options, on our Getting Around page.

MetroAirport bus service for transportation from and to the airport. Rides cost $1.75 in exact change or a pass which can be purchased using the CapMetro App. As always, bus times are estimated so get to your stop 5 to 10 minutes prior to the estimated arrival time.
SXSW Festival Shuttles are provided as a free service to registrants. Shuttles leave the Austin Convention Center every 7 to 10 minutes during conference hours, but if you stay downtown for a nightcap on 6th Street, they keep running until 2:30am. To view the route and track shuttles in real time, download the SXSW GO app, or go to shuttles.sxsw.com.
Austin B-Cycle is the low-cost, pay-as-you-go bicycle commitment. B-Cycle has stations set-up all over downtown, and offers a myriad of different pricing options. Get around town faster than automobile travel, quickly move through areas blocked to automobile traffic, and enjoy some brief, refreshing exercise.
Pedicabs operate downtown for a pre-negotiated tip. Some couples find pedicab rides to be romantic, and others enjoy pedicabs rigged up with booming stereo systems or a novelty design. Pedicabs are a leisurely way to travel from event to event.
Bus and Rail public Transportation is provided by Capital Metro. Rides cost $1.75 in exact change or a pass which can be purchased using the CapMetro App. Visit the Capital Metro SXSW page for SXSW-specific information.
Taxi and many other services are covered here.
MAKE A SCHEDULE

You don’t have to stick with it, but having some place to start will make all the difference. The process of making your schedule is a useful discovery tool for events you may not otherwise hear about. Using the scheduling tool on schedule.sxsw.com or SXSW GO, events can be filtered by conference, event type, venue, and time. Simply click the star to the left of an event’s listing to add it to your schedule. If you have any further questions, check out the Schedule Help page.

Wondering what events to schedule? Think about what you want out of your SXSW experience. Are you here to network? Are you here to learn? Or, are you just here to have the best week of your year? The sheer number of events can be daunting, but using the right filters in the scheduling tool will help you identify the events you’ll enjoy the most. Don’t be afraid to branch out – our Convergence programming events are open to more than one badge type and encourage networking between registrants from many different fields of expertise.

FIND A SXSW FRIEND

SXSW provides a fun, social atmosphere – even if you arrive in Austin on your own, you’ll be saying heartfelt goodbyes at the end of the week. Get a head start on making memories, and see if you know anyone attending in SXsocial. Don’t hesitate to seek out SXSW-veteran attendees and speakers for advice, suggestions, and directions.

PACE YOURSELF

You will have the urge to hit the ground running and try to cram as much into your first day as possible. Resist it! You will only be overwhelmed and disappointed with yourself that you don’t have the energy to go to that great evening event you had your heart set on. As they say, SXSW is a marathon not a sprint.

LOST & FOUND

Lost and Found is now located in the Registration Hall (Austin Convention Center, Exhibit Hall 5). You can drop off found items at the Registration Help Desks. A description of an item and the location it was lost/found in can be emailed to lostandfound@sxsw.com.

INFORMATION DESKS

While inside the Convention Center, if you do happen to get lost, need access to a computer with internet connectivity, or have a question to ask, then stop by one of the four volunteer staffed Information Desks. Information Desk locations are identified on the maps found in the Program and Pocket Guides, as well as on the Convention Center maps found in the “Locations” tab of the SXSW GO app.

READ THE PRINTED MATERIALS

When you pick up your materials in the registration hall take a moment to look through them. Pay particular attention to the Pocket Guide. It will have a list of all the programming times and locations, along with a detailed map of the Austin Convention Center.

We hope you’ve found this page helpful. We’ll keep adding to this list as we get closer to the event. Think we’re missing something? Email us.

This article originally appeared on SXSW.

Austin Housing Sets Records in 2015

http://atxne.ws/1P9j1KV       

By Shonda Novak – American-Statesman Staff 

Austin’s housing market ended 2015 the way it started the year — still among the hottest in the nation.

For the fifth straight year, Austin-area home sales set a record in 2015, the Austin Board of Realtors said Thursday.

And for the fourth year in a row, the area’s median home sales price hit a new high, rising to $263,900.

With similar market conditions still in place, experts predict 2016 will be similar for the Central Texas housing market, though affordability will remain a concern as prices push higher. In addition, potential headwinds could loom for the economy that could affect the housing market, they say.

Last year ended with 29,068 sales of single-family homes, about 4.7 percent higher than 2014’s total, according to the Board of Realtors. Half the homes sold for more than $263,900 and half sold for less, an 8.8 percent jump in the annual median sales price.

    

Sales and the median prices also set records for the month of December, the board said. December’s 2,390 sales were up about 5.5 percent over December 2014’s volume. The median price for homes sold in December was $270,000, 9.7 percent higher than December 2014.

Home prices in Central Texas have risen sharply in the past few years as demand for housing has outstripped supply.

“House prices have increased a lot in recent years, and our own indicators (including house-price-to-income ratios) imply that the market is becoming overpriced,” said Ed Friedman, a director with Moody’s Analytics who follows the Texas economy.

Still, some real estate agents and local housing experts say the Austin market remains on solid footing.

“As long as people continue to move here, we’re going to continue with a robust economy” and home sales will stay healthy, said Grant Whittenberger, a local real estate agent. “Texas is becoming a destination for people in states facing difficult economic times.”

Amy Bernhard, an agent with Realty Austin, said she thinks the housing market “will be the same, or even a little better, than last year.”

“Everything has appreciated very organically,” Bernhard said. “I don’t think we’re in any sort of bubble.”

Local real estate agent George Vance McGee, however, said he thinks “prices are just a little too high.”

“Buyers are not paying these pie-in-the-sky prices,” McGee said. “Some of my sellers are giving me a dreamy price and hoping I may be able to perform a miracle, and I have not been performing miracles lately.”

Experts say there are several uncertainties facing the market — including possible impact from slumping oil prices.

“As long as the national economy continues to hum along, Austin can probably weather most of the energy-related storm,” said Jim Gaines, chief economist at the Texas A&M University Real Estate Center. “High tech and professional business services continue to prosper – which is good news for the Austin area. The dark cloud is probably state government funding as the lower oil price is eventually going to start playing havoc with the state budget.”

Mike Castleman Sr., a longtime housing industry analyst, said he is “very concerned about the Texas economy” and thinks it could be in for “a fairly severe setback.”

“The price of oil has collapsed, and it is expected that as many as 30 percent of the oil companies in the country will go into bankruptcy, and most of those companies are in Texas,” Castleman said.

However, the impact for Austin will be “mild to moderate,” he predicted.

Paul Peters, recruiting manager at Assurance Financial, a Louisiana-based residential mortgage lender, said the company plans to open a major regional mortgage loan production office in Austin, which is “high on our list of expansion markets.”

“We view the area as one of the strongest diversified economies and residential housing markets in the country,” Peters said. “We believe that Austin will continue to see robust appreciation in home values and that more affordable housing will surface in the area as more lot development takes place in the market.”

A&M’s Gaines said he thinks Austin’s housing market should hold up well in 2016, although he’s hesitant to project another record year.

“Affordability – the disparity in the rate of increase in home prices relative to changes in income levels — higher interest rates and a slower economic expansion could lead to a somewhat slower market, but it’ll be close,” Gaines said. “So far, most of the new jobs created have been relatively high-paying, adding to the demand for even higher priced homes.”

/1P9j1KV

By Shonda Novak – American-Statesman Staff
Austin’s housing market ended 2015 the way it started the year — still among the hottest in the nation.

For the fifth straight year, Austin-area home sales set a record in 2015, the Austin Board of Realtors said Thursday.

And for the fourth year in a row, the area’s median home sales price hit a new high, rising to $263,900.

With similar market conditions still in place, experts predict 2016 will be similar for the Central Texas housing market, though affordability will remain a concern as prices push higher. In addition, potential headwinds could loom for the economy that could affect the housing market, they say.

Last year ended with 29,068 sales of single-family homes, about 4.7 percent higher than 2014’s total, according to the Board of Realtors. Half the homes sold for more than $263,900 and half sold for less, an 8.8 percent jump in the annual median sales price.

+

Sales and the median prices also set records for the month of December, the board said. December’s 2,390 sales were up about 5.5 percent over December 2014’s volume. The median price for homes sold in December was $270,000, 9.7 percent higher than December 2014.

Home prices in Central Texas have risen sharply in the past few years as demand for housing has outstripped supply.

“House prices have increased a lot in recent years, and our own indicators (including house-price-to-income ratios) imply that the market is becoming overpriced,” said Ed Friedman, a director with Moody’s Analytics who follows the Texas economy.

Still, some real estate agents and local housing experts say the Austin market remains on solid footing.

“As long as people continue to move here, we’re going to continue with a robust economy” and home sales will stay healthy, said Grant Whittenberger, a local real estate agent. “Texas is becoming a destination for people in states facing difficult economic times.”

Amy Bernhard, an agent with Realty Austin, said she thinks the housing market “will be the same, or even a little better, than last year.”

“Everything has appreciated very organically,” Bernhard said. “I don’t think we’re in any sort of bubble.”

Local real estate agent George Vance McGee, however, said he thinks “prices are just a little too high.”

“Buyers are not paying these pie-in-the-sky prices,” McGee said. “Some of my sellers are giving me a dreamy price and hoping I may be able to perform a miracle, and I have not been performing miracles lately.”

Experts say there are several uncertainties facing the market — including possible impact from slumping oil prices.

“As long as the national economy continues to hum along, Austin can probably weather most of the energy-related storm,” said Jim Gaines, chief economist at the Texas A&M University Real Estate Center. “High tech and professional business services continue to prosper – which is good news for the Austin area. The dark cloud is probably state government funding as the lower oil price is eventually going to start playing havoc with the state budget.”

Mike Castleman Sr., a longtime housing industry analyst, said he is “very concerned about the Texas economy” and thinks it could be in for “a fairly severe setback.”

“The price of oil has collapsed, and it is expected that as many as 30 percent of the oil companies in the country will go into bankruptcy, and most of those companies are in Texas,” Castleman said.

However, the impact for Austin will be “mild to moderate,” he predicted.

Paul Peters, recruiting manager at Assurance Financial, a Louisiana-based residential mortgage lender, said the company plans to open a major regional mortgage loan production office in Austin, which is “high on our list of expansion markets.”

“We view the area as one of the strongest diversified economies and residential housing markets in the country,” Peters said. “We believe that Austin will continue to see robust appreciation in home values and that more affordable housing will surface in the area as more lot development takes place in the market.”

A&M’s Gaines said he thinks Austin’s housing market should hold up well in 2016, although he’s hesitant to project another record year.

“Affordability – the disparity in the rate of increase in home prices relative to changes in income levels — higher interest rates and a slower economic expansion could lead to a somewhat slower market, but it’ll be close,” Gaines said. “So far, most of the new jobs created have been relatively high-paying, adding to the demand for even higher priced homes.”

Building Websites for All Devices

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut suscipit elit sed diam ultrices hendrerit. Vestibulum feugiat, urna eget ullamcorper tristique, est erat egestas diam, ac imperdiet libero neque sed velit. Curabitur fringilla tortor vitae nisi mattis, dignissim faucibus purus dictum. Sed vel volutpat sapien. Morbi quis tristique dolor. Fusce nec mattis diam. Duis rutrum vitae erat vel fringilla.

Read More

When Should Your Rental Search Start?

Finding the right home for lease in Austin can be a difficult task, especially if you are looking at the wrong time. Starting too early can mean calling dozens of dead-end zillow ads and wasting full days driving around neighborhoods calling signs. Starting too late can mean you’re stuck with the “leftovers” in one of the most rapidly growing real estate markets in the country. When is the right time to start looking for a place?

The right time to start looking depends on what type of Austin property for lease you are looking for and when you are looking to move. This article is particularly about the Austin leasing market, because in different local markets you may have a different time-frame that leasing occurs. In the Austin rental market, typically properties are either vacant, on a 30-day notice, a 60-day notice, or they are for August pre-lease. We will discuss what to typically expect for Austin leasing availability based on what type of property you are looking for. Keep in mind that availability policies vary for each property. You can expect the information in this article to be generally accurate, but you will also encounter properties that deviate from these norms.

Single-Family Homes For Lease

The market for Single-family homes for lease in Austin can be very competitive depending on the location. Typically single-family homes are on a 30-day notice. During the last 30 days of the lease, most single-family house landlords will then list the property for lease and put a lockbox on the property, while the current tenant is completing the final month of the lease. Because these rental houses are only on a 30-day notice (and sometimes less than that), many times these houses will be vacant. When I take a client out to see single-family homes for lease in the Austin area, we will usually see 5-6 houses and almost all of them will be vacant. Usually when a house is vacant, the average landlord will accept a lease with move-in date no more than 2 weeks later than the application date. This is why we advise clients seeking single-family homes for lease to start viewing places 2-3 weeks before their planned move-in date.

We understand that waiting until just 2 weeks before you need to move can cause a lot of anxiety. If you speak with a Realtor® early on, you can confirm that what you are looking for is realistic enough that you’ll have plenty of options to choose from once the time is right. We can even set you up with an MLS auto-email search that will notify you via e-mail as soon as houses become listed matching your criteria. This means you will be first through the door of your favorite rental homes and you can lease them before anyone else can. When you begin a relationship with a hard-working Realty Pros of Austin Realtor®, you can be sure that you will not be wasting time calling stale listings long before it is appropriate to start looking. You will have instant access to properties the moment they are listed, so you can be the first person to lease the right house.

Duplexes / Triplexes / Four-plexes / Condos For Lease

Typically with these type of “boutique” listings, the rules will be similar to single-family homes. Most of these properties are also on a 30-day notice, and they will be listed on the MLS about 30 days or less from when they will be available. Many times these properties are also looking for applications with move-ins no more than 2 weeks past the availability date. So for these property types, we also suggest viewing properties 2-3 weeks before your move-in date.

Your Realty Pros of Austin Realtor® can set you up an MLS search that will alert you as soon as these properties become available as well. When you are alerted to new listings, all you have to do is call your agent to gain instant access to any property you like. The Austin rental market is one of the fastest moving markets in the country, and these boutique listings are always in high demand. This is why when you call on these properties when they are on zillow, it can be a very frustrating experience. Your Realtor® will have the most updated information, so you don’t waste your time spinning your wheels on these internet fantasy properties that no longer exist. The easiest way to lease a specialty property like a duplex or back-house is by enlisting the help of a trusted Realtor®.

Austin Apartments For Lease

Apartments for lease in Austin are usually on a 60-day notice. But this doesn’t necessarily mean that you want to view properties 60 days before move-in. Most of these properties are on a “dynamic pricing system” such as Yieldstar. The leasing professionals at these on-site managed apartment complexes always push that the rent price is “only good for 24 hours,” because that is the truth. The rental prices change daily at these properties based on availability and move-in/move-out dates for the units. If you are sure that you want to live in one particular property, then you may want to show up 60-days ahead of time so you can have the highest selection of units at that exact property. Most people are not decided on one particular property before they even start looking. This is why we suggest viewing on-site managed Austin apartments 30 days before your desired move-in date.

Even though these properties are on a 60-day notice, scheduling your showing appointment with your Realtor for 30 days before move-in will ensure you will have the highest number of potential properties. Most apartments are on 60-day notice but still some will be on 30-day notice, as well as boutique properties that may be possibilities. Also, when the 60-day notice properties have units that are only 30 days or less from move-in the rates may be lower. Usually an apartment 60-days from being vacant will be more expensive than one 15-days from vacancy, because the risk is higher that they will not lease it. Starting your Austin apartment search 30-days from move-in will minimize the risk of overpaying and will maximize your options. It is not possible to schedule e-mail alerts for apartments like we can for single-family homes and boutique properties. When you schedule an appointment with your Realty Pros of Austin Realtor®, your agent will call each property prior to your appointment to confirm availability. Then, you will meet at our office to go over your options and select the best ones you’d like to view. When you come prepared and with the right timing we can make your apartment search very easy, even enjoyable.

UT Campus Pre-Lease Properties

The University of Texas at Austin has a unique leasing market, that we call the Pre-Leasing market. In the areas closest to UT Campus, leasing for August begins as early as October of the previous year. Large houses and other unique properties always lease first. The best deals for Pre-Leasing are leased between October and March, all of them with August move-in dates. The West Campus, North University, and Hyde Park areas are the areas most saturated with pre-lease properties, with some outlier properties in East Austin and Tarrytown, as well as Far West Blvd and East Riverside. If you are looking in these areas for an August move-in, the best time to look for properties is between October through April. 

Pre-leasing availability does not depend on property type. In these areas, whether you are looking for a single-family house or a 1-bedroom studio your timing will basically be the same. It is worth noting that large (6+bedroom) single-family homes will usually be leased in October/November. By December almost all of the large houses worth leasing have been taken. For 1-2 bedrooms you can find a good deal all the way through April and even into the summer. 3 bedroom houses that are on the affordable side of the market tend to go by February or earlier. You will still find these houses later in the season, but the quality will typically diminish through the summer, as this number of bedrooms is usually very in demand, versus the amount of inventory. No matter when you start, with the right Realtor you can usually find what you are looking for. These guidelines will improve your odds of getting the most value in your next pre-lease properties.

Currently no database exists for pre-lease properties. Properties in the UT campus area that are on Pre-Lease are almost exclusively leased by campus area companies (such as Realty Pros of Austin). Only companies with experience in this area will have access to all of the properties up for pre-lease. Instead of having a centralized database such as the MLS, pre-lease properties are sent out via pre-lease lists to participating Austin real estate companies and then they are usually leased by these companies without the properties ever seeing an online database such as the MLS. This is why, if you are looking to lease in the UT campus area it is very important to get established with a Realtor® early on in your search, so you can make sure you have access to the entire pre-leasing market.

Other Real Estate Transactions

If you are looking for a type of rental home that we have not discussed in this article, give us a call and you can discuss your specific needs with a Realtor®. We can also help you with buying or selling an Austin home. If you own a home in the Austin area and would like us to sell lease or manage that property, give us a call during normal business hours. We will go above and beyond to ensure your real estate needs are met. Call us today: 512-401-3330.

 

Austin Home Transformation

It’s no news that East Austin is transforming, developing and turning into a very popular place for young Austinites to move to. Austin Culture Map posted an article about a house that was built in the 1950’s and has since made its way from Clarksville to the East side. This small, quaint house went through a major renovation and the transformation is amazing! You can check out photos of the interior & exterior of the house here.

Start Here
Contact us now!Buying or Selling a home in Austin? Leasing a home in Austin? We can help!
Scroll to top