Posts Tagged ‘austin real estate data’

17 October

Austin Real Estate on the Rise

Posted by Tom Bates

 

Austin real estate continues to sizzle.  Here is a good article from Shonda Novak at the Austin Statesman:
http://www.statesman.com/news/business/real-estate/austin-home-sales-sizzle-in-august-expected-to-sta/nSLYR/

Austin real estate by the numbers:

Austin real estate by the numbers:
2,397: Number of single-family homes sold in the Austin area in August
$212,000: Median home price, up 6 percent over August 2011
21 percent: Increase in home sales compared with last year’s figure
2,207: Number of home sales pending closure

Austin Real Estate News: Austin Homebuilder confidence reaches 6-year high

http://www.bizjournals.com/austin/news/2012/10/16/homebuilder-confidence-reaches-6-year.htmlAustin Business Journal by Jeff Clabaugh, Broadcast/Web Reporter Date: Tuesday, October 16, 2012, 12:13pm CDT

The National Association of Home Builders said its builder confidence index rose for the sixth consecutive month in October, gaining one point to 41.

Confidence among the nation’s homebuilders rose to its highest level since June 2006.

The National Association of Home Builders said its builder confidence index rose for the sixth consecutive month in October, gaining one point to 41.

Even so, any reading below 50 indicates more builders still view sales conditions as poor rather than good.

“Many builders are reporting increases in the number of serious buyers visiting their sales offices, and the overall confidence measure is much higher than it was at this time last year,” said the association’s chairman, Barry Rutenberg. “The concern is that, even though demand for new homes is rising, overly tight credit conditions are still constraining new building and new purchases.”

The biggest increase in the NAHB’s monthly survey of its members came in measuring traffic of prospective buyers, rising 5 points to its highest level since April of 2006.

An Austin-based homebuilding organization and advertising agency GSD&M are collaborating on a multimillion-dollar national consumer campaign to convince homebuyers across the country to buy new rather than buying a resale home.

 
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26 June

Buyers and Sellers Seem to Dislike Each Other These Days

Posted by Tom Bates

 

There is certainly something different in the air this year in Austin real estate sales than in previous years.  I mean, like really different.  In years past, buyers and sellers would actually seem to work toward the common end goals: a contract, a non-terminated option period, a deal…and (I dare say) a closing!  This year though, sellers and buyers seem to have other goals in mind…and honestly, I’m not really sure what those goals are!

Certainly part of the issue is that a lot of buyers are shopping for deals and throwing out low ball offers at rapid fire.  And that’s fair, buyers, including myself, want good deals…and the only way to get good deals is to make offers.  The other part of the equation are the sellers.  Austin home sellers are in a tricky spot right now: How do you convince someone from out of state where home values are down 25% that certain Austin markets are actually a pseudo-seller’s market?  You don’t.  You let them figure it out themselves.

Look at the market.  In the south Austin real estate market in the 78704 zip code, the average YTD list price to sales price ratio is 96.32% and the average days to sell a house in 78704 is 72 days.  Sounds pretty similar to the data from the roaring salad days right?  Right.  Still, when you do the research and look at the Austin real estate sales data you will see that one sale where the buyer got 67.80% of list price…and that anomaly is what the buyer market sets their scopes on.

So, I guess this soap box article is really just to highlight that Austin buyers and sellers have severely different OPINIONS these days and that sellers should be prepared for continued low-ball offers and unrealistic expectations and that buyers should be prepared to hear those dreadful words “NO”.  It’s just where we are at right now, and don’t even get me started on the current lender appraisal situation.  Anyway, happy house hunting…and you buyers and sellers out there, why don’t you go out and get a cocktail together…loosen up, get to know one another a little better!  🙂

 
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