Amberwood Market Report — Kyle TX — 03/21/2010 Amberwood is a subdivision that features homes for sale in Kyle TX and recently saw its last new construction home sold by GEHAN Homes. Here is a market report that features all activity for the past 6 months in Amberwood Kyle TX:
Plum Creek — Kyle TX — Market Report — 03/10/2010 A grand master-planned community south of Austin TX, Plum Creek Kyle TX sits on more than 2,200 acres. It is pedestrian-friendly and is a mixed-use development, which means that when completed, Plum Creek Kyle TX will be a self-contained community for many. With a grand total of more than 8,500 dwelling units planned, there are currently more than 1,500 single-family homes complete -- with most of them occupied -- in Plum Creek Kyle TX. Here is a Market Report for the past 6 months in Plum Creek Kyle TX: Also, here is a breakdown of homes SOLD and CLOSED transactions for the past 3 months in Plum Creek Kyle TX: Sales are brisk — as you can tell by this information, activity has been excellent in the community. The prices have remained co...
Steeplechase — Kyle TX — Market Report — 03/08/2010 Steeplechase Kyle TX is a community of single-family homes that is one of the oldest planned subdivisions in Kyle TX. The homebuilding in Steeplechase in Kyle TX began about 12 years ago and ended several years ago. There is not a mandatory Homeowners' Association in Steeplechase Kyle TX neighborhood at this time, although there have been some unsuccessful attempts at creating one in the past. A voluntary HOA does exist, however. Here is a PIE CHART of the Market Report for Steeplechase Kyle TX, which shows the market activity for the past 6 months: Also, details of the SOLD activity in Steeplechase Kyle TX for the past 4 months is included here: Notice that there has been some discounting from list prices, but overall sales have been ...
Indian Paintbrush — Kyle TX — Market Report — 03/07/2010 Indian Paintbrush Kyle TX s a community that features single-family homes built starting in 2004 by NuHome and Lennar Homes. Here is a PIE CHART showing market activity for Indian Paintbrush Kyle TX for the past 6 months through Sunday, March 7, 2010: The neighborhood is more intimate than some of the other, sprawling developments in the area. Here are some statistics for SOLD properties in the past 6 months from Indian Paintbrush in Kyle TX: As you can see, the sales prices have been close to asking prices overall -- but actually a bit higher than list; sometimes this is because of bidding wars, sometimes because the seller is paying some of the buyers' closing costs. Some bank-owned and distressed properties in Indian Paintbrush...
Don't Let Ignorance Turn A HUD Home Into A Dud Home There are many good deals out there on preforeclosure, REO, and HUD homes. But not all are great deals, so it pays to be prepared during your home search. HUD homes, or homes that have been foreclosed from VA or FHA loans and are now back on the market, have some things about them that may not settle well with certain buyers. But if you are patient, know a good home inspector, and are willing to put some work and money into these homes, the the HUD home can be a good deal. They are sold "as-is" in the truest sense of the word -- no guarantees, no repairs made (although there may be a small repair escrow on the property). You don't technically have an automatic "out" with a HUD home, but generally they will give you back your earnest mo...
Selling A Home Is Like Telling A Joke At A Middle School — Keep It Clean, People! With all the discussion about today's market consisting mostly of short sales, foreclosures, or otherwise distressed properties, it's easy to forget about the "normal" buyers and sellers that still exist. Of course, the distressed properties have taken quite a bite out of the market value of traditionally marketed homes. But that doesn't change the fact that there are still buyers out there who want a nice, move-in ready home. A home with great features and curb appeal. A home of which to be proud. SO, if you are trying to sell a home that is part of the traditional market -- not a short sale, not a foreclosure — then you may have your work cut out for you. The best advice I can give you? KEEP IT CLEAN! M...
Look For The "Meat" Of A Listing Presentation When you make the decision to sell your home, you are likely to have many preconceived notions about the people and processes that will be involved in the listing of your property to sell. Many people are disappointed former "FSBO" -- For Sale By Owner" -- sellers. Many have sold a home or land before, and remember it as a bad experience. The good news is: Regulations in real estate have changed, and new guidelines have helped weed out many unethical or poorly trained agents. So, chances are you will find quality agents to choose from to list your home for sale. Remember a few key points: You want your home on the MLS. You want your home on key web sites in addition to the MLS. An agent's marketing plan and marketing skills are not the most ...
Tax Credit: The Calm Before The Storm? I was expecting to be busier right now with clients who are focused on getting a home to take advantage of the tax credit. But my current group of clients are not feeling a sense of urgency about it, and none are buying a house simply to take advantage of the tax credit. In fact, only about half of them even qualify for the credit. So, I ask you fellow agents: Has the tax credit made you busier right now than you normally are at this time of year? Are most, or at least many, of your clients focused mainly on the tax credit right now? Do you think that the tax credit will be extended or improved again? Do your clients think that the tax credits will be extended again? I know that I usually trust my gut. And my gut says the tax credits are going to ...
Home Loans: A Bridge Over Troubled Water? Sometimes it's hard to believe that there are "normal" buyers and sellers out there. You listen to the news, read the blogs, hear the talk around the proverbial water cooler. Everybody has an opinion. The market sucks. The foreclosures are everywhere, and the mess is about to get much, much worse. Maybe bits and pieces of what you hear are true in various areas across this great country of ours, but there is also another side to the housing market. 10 percent unemployment also means 90 percent of people are employed. Some people can afford to buy a normal home. Some people want to simply move up as their situation dictates. Some people prefer "move-in ready" over a sad, trashed house. But sometimes a house is hard to sell. In the boom time, lend...
Sense Of Urgency: Mind Your Deadlines Are you the kind of person who operates best with clear deadlines? With checklists? Rules? Great! The process that begins when a purchase agreement "clock" starts should be a piece of cake for you. But if you don't like to be rushed, don't like pressure, like to put things of until later, well, these qualities might get you in a heap of trouble when buying a home. After you make an offer, and it's accepted by the seller, the clock begins. There is a deadline to get earnest money to the title company, option money to the seller or their agent, inspections to be ordered, loans to be processed, etc. If you miss a very important deadline, you might get stuck with a house that is in disrepair, or you may forfeit earnest money needlessly if the deal falls...
Buying A Home Isn't For Everybody It may sound like kind of a weird thing to hear from a real estate agent, but it is my honest and humble opinion. An opinion that I believe is backed up by facts. If you are a first-time homebuyer, the process of shopping for a home can be so fun and exciting that you sometimes can miss the forest for the trees. I love working with first-time homebuyers, because I get caught up in their excitement. It's easy to do. But I also stay grounded, and always give advice that I believe is sound for their particular situation. Sometimes, it's the perfect time to buy. Sometimes, it's better to rent a home for a while before making the big splash. Sometimes the down payment is too much, sometimes job, income or credit factors play a role. Whatever it is, I will w...
More Tips For Your Closing Happiness The devil is in the details, you might have heard before. While I have to agree with that in almost every aspect of life, it is certainly true when it comes to the closing of a home purchase. The transaction can come off without a hitch. But don't count on it. One of the title companies I use said the closings that fall apart at the table are at about 25-30%, which is up from about 5% during the last housing boom. If you are buying a new construction home, the procedures are pretty set in stone and easy to follow. But a resale home -- especially if it's currently occupied -- has a few potential issues you might face. It's important to schedule a walk-though within 4-5 days of signing the closing documents. Use this time to see if required repairs hav...
Hold Off On That New Car If You Want To Buy A House Soon If you follow the standard way of doing things that most people do in Central Texas, as well as other parts of the country, you buy a new car before you buy a house. Back in the Good Ol' Days (meaning anytime before mid-2006), it probably didn't matter too much, because the loan products available then allowed for some pretty steep DTI ratios, so the new car payment didn't matter as much. But think of it this way: When you buy a car, credit score is the main focus, along with job stability a close second. There is little thought given to debt-to-income ratio, unless there is already a car loan per person in the household. But DTI is huge for buying a house. A $500 car payment kills you DTI and will take you from qualifying for a $...
The Trickle-Down Effect of Closing The closing of your home purchase is decided by many factors -- some in your control, some not in your control. After you make it past the inspection period, the appraisal is ordered. If it comes in at or above the sales price and it passes the lender's internal audit process, then the documents can usually be ordered from the lender. Many things can upset the apple cart, so to speak, such as unpaid liens, liens that were paid but not properly recorded, issues with the survey, major changes to your credit report (although these are usually discovered right before closing when a credit report update is ordered), job changes, etc. It is important not to make any major purchases (appliances, cars, etc.) until after closing, as this will effect your DTI ...
Don't Go To The Closing Table Unprepared As many closings as I have been on, it seems like each time I go, there are more papers to sign if you are the buyer. Sellers have a small amount of paperwork by comparison. When you finally reach the big day, you have a lot to celebrate. You found a house you love, you made an offer and had it accepted, you made it past the inspection phase, and you obtained a mortgage. In this day and age, these are no small feats. Congratulate yourself! But it isn't quite over yet. If you wait until you are at the closing table to read your closing documents, you will have a tendency to sign whatever is thrown at you and, in fact, you really need to sign expeditiously or you will be there the better part of forever! But don't forget that you do have the right ...
Don't Make Your Closing Day Overwhelming Whether you have purchased 10 rental properties, or you are buying your very first home, the closing process can be daunting and, if you are not prepared, leave you open to future issues. I have been through hundreds of closings, and I still get butterflies. What I try to do before each closing is remind myself that my clients my never have done this before. I try to put myself in their shoes. This helps me to remember to explain things as we go. It's best to pepper your agent rep with questions before you get to the closing table. Even better if you can see the documents first. When the title policy comes in the mail, scan it and pay special attention to Schedules B & C. This is where existing liens on the property can be found. Insist on seeing...
Consider Your Home Warranty Before Responding To Inspection — Agent Aaron @ 512-845-4204 You bought a house you love. It may be a little older, or the current owners may not have kept up on maintenance. Whatever the situation is, you have ordered a home inspection and it has come back. You were expecting a few things, but now there are a few more than you thought about. But don't forget about the homeowners maintenance contract (home warranty) that you will be getting with your new home. No matter who is paying for it, the home warranty will cover many components of your home after you move in. So if your inspector found something that still works but he recommends replacement soon, consider waiting on it if it's covered by the warranty. As long as your lender doesn't require it to be f...
To Remodel Or To Move, That Is The Question — Agent Aaron @ 512-845-4204 While there are many homeowners who are struggling in various ways do to the changes in the real estate market, there is still an overwhelming majority of people who are doing OK and may be considering upgrading to a new home soon. It's easy to sit on the sidelines and worry and wonder when it will be the right time to make a move. Some people are scared about moving; some people are worried about "paying too much" for their new home, unsure whether the bottom of the market has arrived yet; many are worried that they will not get what they owe on their home if they try to sell. I think you need to evaluate how your micro-market is doing before you make a decision. How much have values fallen (or risen) in your stat...
Tire-Kickers Welcome, Too — Agent Aaron @ 512-845-4204 So, you hear all the doom and gloom news regarding the real estate market, and you wonder: What do I believe? How does it effect me? Well, I am glad you asked! Real estate is a very complex business always, but especially these days. The media tend to focus on the overall market around the nation, which is in turmoil right now. But it pays for you to arm yourself with the proper information if you are considering getting into the game. Maybe you are already a homeowner, and you want to know more about the tax credit. Maybe you are a renter, and have been sitting on the sidelines waiting for the bottom to hit. Well, if you want to see some raw data about where you live now -- and where you might want to live in the future in Central ...
Things Can Go Wrong ... That's Why I Am Here! It's true, real estate transactions can be complex and downright confusing sometimes. And I am sure you probably have a few friends, co-workers or family members who have a few horror stories about what they went through. While most of them have good intentions, all the negativity can start you off on the wrong foot emotionally before you even really get started on your search for the right home for you. So what do you do? Well, I am sure you expect me to say, "Hire me!" And it's true, I'd love to help you find a new home in or around Austin, TX. But I advise you to call at least 4 agents, and try to interview two or three of them. If one is me, well, all the better. In any case, prepare ahead a couple of key questions, and make those calls....
