Austin Texas Metro Single Family Home Statistics May 2, 2016
April has past and May is underway. This year is passing quickly for sure. Just consider public schools finish the year this month, summer is upon us, vacation planning is moving toward the front of our minds. Single family homes are in high demand to say the least! If you are considering buying a home you and your agent must be prepared to act quickly.
Here are the statistics for the last week: Available: ~ 5973 Under Contract ~ 4823 Sold Last 4 weeks ~ 2079
When the activity is at this level, it is a must that a buyer be ready to act quickly. What does this mean for you if you are looking to buy?
1) Find an agent that monitors the market daily and is not encumbered with "another job." The days of accumulating possible homes for a week or two and then going out to see them later is a loosing situation. You need an agent that can go NOW not later.
2) Having secured a qualification letter from a lender is a must. Submitting an offer without supporting documentation is a nonstarter.
3) Composing an offer isn't just a fill in the blanks process, there is an art to making your offer stand out. Multiple offers are quite common and how your offer is constructed could make or break your chances.
4) If you found a house appealing others did too. After consulting with your agent about the comparable activity put your best foot forward with a well constructed offer. Just a couple weeks ago I was able to get an offer accepted for a client against multiple offers without having to battle the "send your highest and best offer" which recent history tells us just drive the price much higher. NO, we didn't just make a ridiculously high offer to begin with. My client's offer was at list price while others (I was told after closing) were over list price.
On a personal note, May 1 marked my 9th anniversary as a full time REALTOR® here in the AustinTexas Metro! I have been a resident of the Austin Texas Metro since 1982. Helping clients make a great decision on where to buy and what price to pay is my passion. I hope to help you some day.
Morris "Bill" Austin ~ REALTOR®~ Team Price Real Estate
Serving Sellers and Buyers in the Austin Texas Metro since 2007
Direct ~ 512-709-6343 ~ Email ~ bill@teamprice.com ~ bill.buyinginaustin.com
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