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Austin, Texas and Washington, D.C. have a lot in common. Apparently, that includes strength in home values. Continue reading
A recent post understandably prompted a reader to ask whether they should shop for homes well above the price range in which they hope to buy. I replied to that question directly, but the issue of “shopping high” comes up frequently (almost as often as sellers want to “start high” on list price), so I’ll discuss it again here. Continue reading
Homes that are priced right on day one sell faster and for higher prices than those that “start high.” There are bound to be exceptions, but I haven’t found one yet. Continue reading
I’ll have more to say later about home values around the country, but many folks in Austin and elsewhere have the impression that Austin is a relatively expensive place to live. At least as far as housing is concerned, the data discussed here places Austin very well, especially among large metropolitan areas. Continue reading
Virtually all economic indicators call for optimism for Austin’s economy and housing sector. However, uncertainty in the U.S. economy generally, and in the real estate business in many key metros, call for caution. Personally, I remain bullish but I am eager to see actual results in May and June 2011 before saying confidently that we have entered a sustainable new growth cycle. Continue reading
Sellers who price right early consistently sell faster and for more money than those who have to reduce their prices one or more times to attract a buyer. Continue reading
By this comparison, Austin’s gain in market value looks very tame compared with most of the other cities. It’s still nothing to sniff at, though: 170% price appreciation in 20 years represents an average of 8.5% annual growth. Continue reading
From articles earlier this week saying that home prices nationwide are falling faster than at any time in three years, to a new article today saying the home prices are rising in most cities, it looks like you really can “pick your facts” about real estate. Continue reading
When I see reports like those this week about how weak home prices are I feel the need to remind Austin/Central Texas consumers that we really are different. Renewed strength in other major metropolitan areas will obviously help us too, but so far the sky isn’t falling here. Continue reading
There are many ways to approach market analysis. Many real estate practicioners still do what their clients usually expect and base a pricing recommendation on recent “comps” in the neighborhood. That will certainly provide one indication of market value, but without a more thorough understanding of the market environment, I suggest that that approach can easily mislead, and result in a listing that is overpriced, or underpriced or, maybe, priced just right. Continue reading
