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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
Market conditions vary widely among different segments of the downtown condo market, but overall it is over-inventoried and likely to stay that way. 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
There was a good post from Lawrence Yun, Chief Economist for the National Association of REALTORS® today that prompts me to comment: Rising Days on Market The last sentence in Mr. Yun’s article was the most accurate and the most important: “DOM for an individual property is very important and re-pricing will be necessary at … Continue reading
The key “unknown” at this point is whether we have more volatility ahead. Locally and regionally, conditions remain good, but without a broader recovery in the national economy and housing sector, continued strong in-migration and the ability of those new Austinites to buy homes is more limited than it should be. Continue reading
Bill Morris on Austin Real Estate 