16 January

Foreclosures: Facts and Fiction

Posted by Scott Parris - Telephone: 512-698-7202, Email: scott@austinmodernliving.com


The real estate market has definitely had it’s  ups and downs over the past decade.   The buzz word since 2007 has been Foreclosures and REO’s.   There are a lot of misconceptions regarding buying a foreclosed property.   Click Here for all the details regarding the Facts and Fiction about Foreclosures

 
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11 January

University Hills Home For Sale

Posted by Dave Cothran - Telephone: 111-222-3333, Email: nobody@example.com


Hello all, I am posting today about my listing in University Hills!  This is a large, multi level, four bedroom home in a great East Austin neighborhood.  The home has been remodeled by the current owner, and is less than a mile from Dottie Jordan Park! The home is currently listed at $209,000 and is a great value!  Please feel free to contact me with any questions or to schedule a showing or, ask your REALTOR to add it to the list for this weekend!

 
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30 December

Year End Market News for Austin Real Estate

Posted by Scott Parris - Telephone: 512-698-7202, Email: scott@austinmodernliving.com


We at Austin Modern Living wish you a Happy New Year!

The Austin Board of Realtors provides monthly and yearly Austin real estate market statistics based on month by month MLS data that compares the Austin market over the past 5 years.  These stats are intended to help you (potential Austin home buyers and sellers) make an informed decision about the Austin real estate market before you buy or sell a home in the Austin area.

As you can see from the snap shot of the chart to the right, home sales rose significantly over the past year, while inventory has continue to decreased.   What does this mean for 2013?   With mortgage interest rates expected to remain below 4% through the next year, you can expect just as many, if not more buyers looking to purchase a home this coming year.   The big question is, will more home owners be looking to sell?   The longer the supply of houses for sale remains low, the more and more it looks like we have entered into a new sellers market in Austin.

**If you are a seller and would like statistics for your specific neighborhood of Austin, property type or price range, please complete our Market Analysis Request Form and tell us how we can help. We can provide real estate market specifics for both buyers and sellers throughout the Austin area, that will give you a jump on the competition for 2013!  Just let us know how we can help.**

 
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25 December

"First Look" Foreclosures for New Home Owners

Posted by Scott Parris - Telephone: 512-698-7202, Email: scott@austinmodernliving.com


There is a HUD – government program, that is requiring certain banks (as well as Fannie Mae and Freddie Mac) to sell some of their new foreclosures for the first 15 days of the listing only to home owners that will live in the property.   What does this mean?   It can be a great buying opportunity for new home buyers.   They no longer have to compete with investors, flippers and cash buyers on these newly listed foreclosed properties.   If you are a new home buyer or looking to move and find a great deal on a house – and your interested in receiving a FREE list of foreclosures that qualify under this “First Look” program: CLICK HERE

 
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22 December

Thinking about moving your IRA or 401k into a Real Estate Investment?

Posted by Scott Parris - Telephone: 512-698-7202, Email: scott@austinmodernliving.com


Know all the facts.   Click Here to find out what a Self-Directed IRA can do for your retirement account and investment properties.

 
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21 December

Austin #5 on Trulia's 2013 Healthiest Housing Markets

Posted by Tom Bates - Telephone: 512-413-0870, Email: tom@austinmodernliving.com


Been seeing a lot of national news about Austin’s real estate market being hot/healthy/etc compared to other US cities, here’s a link to a Trulia Pro Real Estate Blog – Austin article.   Honestly, Austin does not have a lot of competition on this list, I mean I could see living in Seattle, but the others:
San Francisco? > hello ridiculous amounts of state taxes
Nebraska? > do what?
Ft. Worth, Houston, San Antonio? > no way, no way, no way
Trulia map top 10 healthiest real estate markets - austin

 
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21 December

Austin Real Estate Market Up 23% in November: Statesman

Posted by Tom Bates - Telephone: 512-413-0870, Email: tom@austinmodernliving.com


Austin real estate market jumped 23% in November over last November writes The Statesman.  This article mirrors what we are seeing in our own office: buyers who see something they like need to be prepared, act quick and be realistic with offers.  Many sellers are erring on the higher side of the appraisal range and getting their number…especially in closer in urban neighborhoods.  Still, there are some good deals out there if you have some vision.  Good luck buying and selling!

 
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12 December

Austin Modern Home Tour

Posted by Tom Bates - Telephone: 512-413-0870, Email: tom@austinmodernliving.com


Every year we help dozens of people with different levels of production and custom home building in the greater Austin area.  By truly understanding what our client’s needs and architectural aesthetics are we help them through the process of custom home building.  Several of our clients are also builders, and so we spend an absurd amount of time hunting for good lots to build modern homes on!  But lot selection is only part of the equation, to build a custom home you need to assemble the right team first: an architect, a builder, a designer and a good Realtor to start with.  It’s a team effort and we are proud to be a part of that team for many Austin area home owners and building clients.  One of our recent clients who built this year is having her home featured on the Austin Modern Home Tour coming up on February 2, 2013 and I invite you all to come check it out.  (Ours is 212 W. Live Oak in 78704.) And if you or someone you know is interested in building a custom home in the Austin area come find me or one of our other Austin Modern Living Realtors and let’s talk. (Oh, and happy 12/12/12 day!)Austin-modern-home-tour-212-w-live-oak-78704-front

Austin-modern-home-tour-212-w-live-oak-78704-kitchen

 
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28 November

New Construction in Central Austin

Posted by Scott Parris - Telephone: 512-698-7202, Email: scott@austinmodernliving.com


Check out my post on purchasing new construction properties in Central Austin @

CENTRAL AUSTIN PROPERTIES

 
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25 November

Qualified Buyers and Austin's Economy

Posted by Scott Parris - Telephone: 512-698-7202, Email: scott@austinmodernliving.com


What is the most important aspect of a strong and sustainable real estate market?  Population?  Economy?  Jobs?   The answer is yes to all of the above.   What results is a large supply of not houses, but “well qualified buyers.”   Interest rates for mortgages are at record lows and home prices in many cities are back to the same price they were 15 years ago.    However, a large portion of the U.S. population still cannot get a home loan because they are not “well qualified” – as the mortgage industry likes to calls it.    Regardless of how great the deals are on houses, without buyers, a real estate market cannot survive.

For anyone that may have gotten a home loan 5-10 years ago and then went through the process again recently, they will have noticed that the task was much more difficult this second go around.   I can write all day about the reasons for these changes; however the biggest take away is that home buyer’s today either needs 1) a large down payment – lots of cash in the bank, or 2) a very good paying job with a great credit score.   These types of home buyers just do not exist in many parts of the U.S.   Local economies are stagnant and job growth is doing anything but growing.

This dire outlook is not the case for Austin.   According to Sarah Drake at the Austin Business Journal, we have sustained the highest job growth since 2007.   Most of these jobs are not of the minimum wage variety either.   The Fiscal Times says “you know a city’s doing well when the media calls it the ‘next Silicon Valley.’”    With interest rates staying low for the foreseeable future and the Austin economy/job market doing so well, our local real estate market looks very positive and there are many people that fall into the category of “well qualified.”

It is definitely an exciting time for Central Texas residents and home owners.   If you are looking at buying that new house and waiting for the perfect time to buy; that time might very well be right now.   If you are an investor waiting for that “great deal,” that deal could be right in front of you today; compared to the appreciation that house or condo might see over the next 10 years.   Anyone with questions about mortgages or the best neighborhoods to buy in where you can get the most bang for your buck, give me a call.

Scott Parris, 512.698.7202, scott@austinmodernliving.com

 
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