People moving to Austin need our help, fellow agents.  They need a dose of reality.  What everybody reads in the press makes many out of town buyers think that real estate market in Austin are the same as markets the press writes about.  In other words, they think home sales are soft and that everything is overpriced.  The result?  Lowball offers that insult sellers.  This isn't true everywhere, but it is in many areas and is especially true on areas west of downtown.  So what we need to do is let people know that Austin is still appreciating.  They need to really understand the comps we show them and then make realistic offers.

The second thing buyers need to know is that they really should't make an offer without proof of ability to pay if it is a cash purchase or a letter of pre-approval from a lender.  A problem of late is people's lenders going under and having no funds at closing.  A letter of pre-approval is no guarantee that the lender will be in business a week or a month from now, but it helps.  With lenders having much tighter rules for making loans, anyone not already pre-approved is not likely to be taken very seriously.

So let's get out there and really educate our buyers.

Sam Chapman of Private Label Realty, 8300 North Mopac, #100, Austin, TX 78759, 512-293-2422
Search Austin Homes
schap50@gmail.com
Visit my Austin Real Estate Estate website.

Sam Chapman's contact information

 

 

 

 

 

 

Bookmark and Share

 
Posted by Sam Chapman on 08/31/2007 11:05 AM   Comments (2)   austin, austin homes  
Generate short URL

2 Comments on Things Austin Home Buyers Need To Know

AUG
31
2007
277,752 Points 11 Featured Posts Outside Blog Attended Rain Camp

Texas, as a State, was up by last measure.

I have buyers comment to me all of the time about how they KNOW the market is bad and they are going to lowball. I always suggest they talk that over with a realtor. Because you may not be taken seriously afterwards.
11:42am • #1
SEP
06
2007
Amen to that Tom. My luxury 3bdr/3bath Lake Travis 1,879 sq.ft condo that just went up for sale www.luxuryaustincondos.com is only $210 per sq.ft ($395K) and current condos on the market in the community that aren't fully furnished (I have only condo fully furnished)  and don't have new stainless steel appliances like mine (also the only unit) are going from $205-$276 sq.ft. FYI I am paying the full 3% buyers fee to agents Tom and having a catered with FREE beer,wine, desserts, shrimp, etc. OPEN HOUSE SATURDAY SEPT 8th 1-5pm. - Thanks Ben : )
Ben
1:40am • #2


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Sam_chapman Rainmaker_large

Sam Chapman

Lakeway, TX

More about me…

of Private Label Realty

Address: 8300 N Mopac #110, Austin, TX, 78759

Office Phone: (512) 293-2422

Cell Phone: (512) 293-2422

Email Me

Information and observations on the Austin real estate market including market stats and developments in and around Austin that affect residential real estate conditions. Perhaps a few other odds & ends as well!


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find TX real estate agents and Lakeway real estate on ActiveRain.