austin: How to Buy a Home in Austin in 2021 - 01/24/21 09:24 AM
If you’re trying to purchase a home in the Austin area right now, you know it’s nuts out there.  It makes finding toilet paper in April of 2020 look like a piece of cake.  Securing that coveted PS5 last month - a walk in the park compared to buying an Austin home.  Needless to say, it’s a challenge.  I like challenges and if you do too, keep reading to learn how you can buy a home in Austin right now.   Appease The Sellers
Sellers in Austin obviously have the upper hand right now, so you need to do everything you can to make sure they … (6 comments)

austin: TIPS FOR PURCHASING AN AUSTIN HOME WITH YOUR VA LOAN - 11/16/20 06:15 AM
One great benefit veterans who have previously served or are currently serving our country are eligible for is the Veterans Administration home loan aka a VA loan.  The VA loan allows for a zero down home loan for qualified veterans.  However, just because you served the country does not automatically qualify you for a home loan.  Although the VA does not have specific credit requirements for buyers looking to utilize the VA loan, private lenders facilitating these loans often do.  In addition, you will also have to show that you have the financial means to pay the mortgage and home insurance … (2 comments)

austin: ACCESSORY DWELLING UNITS, THE ANSWER TO ALL OF YOUR 2020 PROBLEMS - 11/13/20 06:28 AM
An accessory dwelling unit, aka an ADU, may be the perfect solution to all of your 2020 problems.  The idea of a back house is nothing new to the Austin real estate market.  They’ve been becoming more and more popular over the past decade as property values have increased throughout central Texas.  They are great for buy and hold investors looking to capitalize on their investment by creating more opportunities for rental revenue. Similarly, more and more developers are building two units on one lot and then selling both units separately as detached condos.  However, this year, more than ever, the benefits of an ADU … (1 comments)

austin: HOW MUCH DOES IT COST TO SELL YOUR HOME IN AUSTIN, TEXAS - 10/14/20 09:11 AM
If you are considering selling your Austin area home, you are likely wondering what fees are involved in the sale.  In order to determine if selling your home is in your best financial interest you need to understand all of the costs associated with selling, and have a good idea of the price at which you can sell your Austin area home.  Many of the costs associated with selling your home are negotiable items in the standard Texas real estate contract; however, there are items that are typically seller expenses and other fees that you are certain to pay when you sell your … (2 comments)

austin: 3 COMMON MISTAKES AUSTIN HOME BUYERS MAKE - 09/25/20 06:02 AM
  Purchasing a home is a big deal!  It’s a huge move (literally and figuratively) for you and your family that will have significant consequences.  If you don’t prepare and use caution in your home buying journey, you could end up in quite a pickle.  That being said, if you recognize the following common mistakes, you will be primed for success when buying your Austin home.NOT BEING FINANCIALLY PREPAREDThere’s no point in looking for homes until you know what you can afford.  One of the biggest mistakes a home buyer can make is looking at homes before you have spoken with a lender.  After all, how … (3 comments)

austin: EVALUATING AUSTIN APPRECIATION RATES BY ZIP CODES, 2019-2020 - 09/14/20 05:55 AM
  In the course of my day to day to activities, I oftentimes get asked about the appreciation rate in the Austin market, and my thoughts on the future of the Austin housing market.  When responding to these inquiries, it’s important that I explain the different methodologies in calculating the appreciation rate.  When you analyze the appreciation rate of anything you are simply comparing the current value to a previous value and reporting the percentage in change.  However, the observations derived from these figures can vary drastically by what metrics you are using.
If you look at the appreciation rate based on the average sales … (4 comments)

austin: Austin Area Communities With The Best Amenities - 07/14/20 05:52 AM
Are you looking for more in your next home than four walls and a roof?  Do you want a sense of community and resort style amenities too?  If you value the experience as much as you do the home, you’ll want to consider one of these great Austin area communities with the most enviable amenities available to residents.  While you will have to travel a bit out of the city to find these great neighborhoods, once you get there you may never want to leave.ROUGH HOLLOWLocated on the south shore of Lake Travis in the community of Lakeway, Rough Hollow offers residents direct lake … (2 comments)

austin: 3 Benefits to Selling Your Home During a Pandemic - 05/16/20 07:13 AM
  You may think that listing your home in the midst of a world wide pandemic is a bad idea.  However, there are actually quite a few good reasons why now is a great time to sell your home.  Although many home owners are weary about buyers entering their homes at this time, there are a variety of strategies that can be used to mitigate these concerns.  Furthermore, if you do want to sell your home in the near future, you may benefit from these unique market conditions.
Less Looky Lous
​Traditionally when you are selling your home, it’s not uncommon to have what we refer … (5 comments)

austin: Four Home Activities to Ease Boredom During the Coronavirus Pandemic - 03/23/20 10:07 AM
  As the coronavirus provides a very real concern to most of the world, one of the most common concerns among many Americans is how to face the immediate concern of boredom. The vast majority of us are practicing social distancing, and staying at home as much as possible.  However, you can only binge Netflix for so long, before the yearning to do anything else really kicks in. Now is a great time to think of ways to make this time as productive as possible.  Consider tackling some home projects to ease your boredom as we face this global pandemic.  If you need supplies, … (4 comments)

austin: The Effects of the Coronavirus on the Austin Housing Market - 03/19/20 10:48 AM
  As is the case with almost every aspect of our lives, there is a lot of uncertainty around how the coronavirus will affect the local housing market.  Over the past few years, the Austin housing market has been increasingly competitive with the average home sales price rising year over year.  Will Covid-19 slow sales or will buyers jump to take advantage of historically low interest rates? THE IMPACT OF COVID-19 ON AUSTIN HOME BUYERSThe coronavirus has began to change our daily lives.  Many are practicing social distancing, self-quarantining, and generally spending less time outside of the home.  Going into someone else’s home is just one … (1 comments)

austin: The Three Things You Need to Understand to Sell Your Home Quickly - 03/02/20 09:31 AM
If you want to sell your home quickly and for a decent price you need to understand how today’s home buyers shop.  When you truly understand home buyer shopping habits and market trends, you can take proper actions to ensure a speedy sale.  You will want to consider how your home appears to buyers both online and in person, the timing of putting your home on the market, and proper pricing.   PRESENTATION IS EVERYTHINGImagine you are swiping through tinder looking for an eligible candidate for a nice date.  You see hundreds of images.  Some of these are appealing, some of them are not, and … (1 comments)

austin: When should you list your home for sale in Austin? - 02/03/20 09:01 AM
If you stumbled across this blog post, I’m guessing you may be curious when the best time to sell your Austin area home is.  Generally speaking, homes in Austin tend to sell for more during the spring.  However, this isn’t true for every neighborhood or every home. Regardless of what time of year you list your home, homes that hit the market on Thursdays tend to do better.  This is why I always advocate for my seller clients to list their home on a Thursday.  It may appear to be an arbitrary day; however, when you think about it, the rationale for listing on Thursday … (0 comments)

austin: Why Should You Buy a Vacation Rental in the Austin Area? - 07/10/19 09:42 AM
Purchasing a vacation rental offers a unique opportunity to grow your wealth and personally benefit from the investment.  If you were to invest in the stock market, would it also offer you a comfy bed to relax in on the weekend?  I don’t think so.    Investing in real estate has a few inherent rewards compared to investing in the market.  In comparison to traditional investments where your gain is in relation to your investment, in real estate, your gain is based on the total value of the property.  For example, if you invest $10K in the stock market and you receive a 10% return … (0 comments)

austin: Austin Homes with Lake Views - 02/24/19 03:16 PM
  There’s nothing better than being able to wake up in the morning and enjoy a cup of coffee while you look out at the lake and see the sun reflecting off the water.  If this sounds like a little slice of heaven to you, you may be considering purchasing a home with a lake view.  In Austin, there are two main lakes, Lake Austin and Lake Travis. I should mention that both “lakes” are really damned portions of the Colorado River. Regardless, us Austinites refer to them as lakes, and you can find wonderful homes with great views of the water near both … (0 comments)

austin: How to Find Austin Homes For Sale with Low Property Taxes - 02/14/19 07:56 AM
  As someone thinking about a move to Austin, I’m sure you may be curious about how much you should expect to pay in property taxes for any given home. Property tax rates vary drastically across central Texas, and it’s important you have a good estimate of what this cost will be before you buy a home. Your annual property taxes will be calculated using the purchase price of the home and the tax rate for that specific property. If it’s your primary home, you can apply for a homestead exemption reducing the amount of your total annual property tax bill. … (1 comments)

austin: What's a Right of First Refusal and Why Should You Care? - 02/07/19 12:14 PM
In real estate, a right of first refusal is a contractual right that gives the holder the option to purchase a specified property when the owner decides to sell.  This right of first refusal is usually written up by a lawyer, and the terms are agreed upon by the owner of the property and the holder of the right of first refusal.  A right of first refusal may be used in a variety of situations.    Recently, a client of mine inquired about obtaining a right of first refusal on his neighbor’s vacant lot.  He was potentially interested in purchasing the lot, and if … (0 comments)

austin: 3 New Home Communities in S. Austin with a Property Tax Rate Under 2% - 01/10/19 09:05 AM
  If you’re considering buying a home in Austin, it’s a smart idea to consider the property tax rate of prospective houses.  Property tax rates can vary significantly throughout central Texas, and oftentimes your property taxes are going to make up a significant portion of your monthly mortgage payment.  In a previous post, I discussed the benefits of purchasing a brand new home.  If you’re looking to buy a brand new home in South Austin, you may want to consider purchasing in one of these three great communities.  Each of these new home communities in the Austin area has a property tax rate under 2%. ​   … (0 comments)

austin: ​WHAT YOU NEED TO KNOW BEFORE LISTING YOUR AUSTIN CONDO FOR SALE - 10/14/18 11:13 AM
In many ways, listing a condo for sale is similar to listing a house for sale.  You must determine an appropriate asking price, prepare the home to go on the market, and then advertise the home to prospective buyers.  Digging up relevant home documents such as the ones listed in this post, are helpful when selling a home or a condo.  However, there are a few additional items you will also want to research prior to listing a condo for sale.  
​First, you will want to find out what types of financing can be used to purchase a condo in your … (2 comments)

austin: Purchasing A House to Use as a Vacation Rental in the Austin Area - 10/07/18 03:47 PM
  If you’re looking for a great investment opportunity in the Austin real estate market, you may be considering purchasing a property to use as a full-time vacation rental.  With the rising popularity of websites such as Airbnb, VRBO, and homeaway visitors to the Austin area have simpler ways to identify places to stay besides hotels.  Furthermore, renting out a property as a short term rental (STR) may be even more lucrative than a traditional long term rental.     ​Unfortunately, in order to use a home as a short term rental in the Austin city limits, you must have a permit.  At this time, they … (2 comments)

austin: What can you buy for $200k in Austin? - 08/05/18 10:27 AM
  Just ten years ago, buyers had many more options when looking to invest $200 K in the Austin real estate market. The median sales price of residential homes in 2008 was only $192,000.  You could buy a cute little Bouldin cottage, pretty much anything east of I35, or a modest sized home in Lakeway.     ​Today, options are far more limited.  In my opinion, with a $200,000 budget in Austin you have four options:  a condo, a home in the suburbs, a fixer-upper in a less desirable area or land. 
 
If you’re thinking about putting that $200K into a condo, you’re … (3 comments)

 
Erika Rae Albert, Austin Real Estate Expert, Exceeding Expectations in Every Transaction (E*Rae Realty)

Erika Rae Albert, Austin Real Estate Expert

Exceeding Expectations in Every Transaction

Austin, TX

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E*Rae Realty

Address: Austin, TX

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