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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
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
In my last post (see Updated Austin Market Dashboard, 04/29/11) I focused largely on volatility in unit sales, but emphasized that the Austin/Central Texas real estate market has largely maintained a healthy balance between supply (i.e., listing inventory) and demand (i.e., home sales), which allowed our home values to remain much stronger than many areas … Continue reading
The benefits of homeownership are so obvious, that I simply can’t accept the James Altucher believes what he blogged on the subject. His advice may be exactly right for him, but for about 2/3 of Americans, owning a home has been the foundation for financial strength they would not have realized by saving a little of every paycheck for forty years. Continue reading
Unlike many cities used in the Case-Shiller Index, Austin saw average home sale prices dip in December, but here’s a different view of that data. Continue reading
Bill Morris on Austin Real Estate 