Winter 2017 Austin Home Price Update
Friends and clients -
If you’ve been considering selling your home, then this winter represents an incredible opportunity.
First, home prices have hit record highs over the past few months.
In fact, home prices are now higher than they were in 2006, at the peak of the housing bubble.
In spite of this, the current market is not experiencing a bubble like we saw 10 years ago.
Instead, today's high prices are mostly driven by a lack of supply.
That's why — if you are looking to sell your home — you are in such a good position right now.
Second, we are seeing a period of low but rising mortgage rates.
For example, the average 30-year mortgage rate has been steadily increasing from its low of 3.37%, recorded last July. It now stands well above 4%.
It’s true that by historical standards, today's mortgage rates are still very low.
And when you combine this with the possibility of continuing increases in the near future . . .
. . . it's clear why so many home buyers are eager to take advantage of the current situation.
Third, we've made it to the end of the election cycle.
Many people were sitting on the sidelines because of the election and the associated uncertainty.
They are now re-entering the real estate market . . . and this will keep demand healthy in the coming months.
Now, even though it's only January, the spring season is definitely approaching
Spring is the hottest season for the real estate market, and you have to get moving now to take advantage of it.
To get started, check out a home value calculator I've put up on my site.
It takes into account recent Austin sales to give you a good idea of what your home is worth in the current market.
Enter your street address here to find out what your home is worth
If you'd like to get an even better estimate of your home’s true value, give me a call at (512) 212-1221.
I know the Austin area well and I talk to home buyers every day, so I have a great feel for the current real estate market.
Once we discuss the unique characteristics of your home, I can give you my best estimate of how much you could get for your home right now, and how quickly you could sell.
And if you have any other questions about how you can take advantage of the current market, simply reply to this email, or give me a call at (512) 212-1221.
Have a great day,