Seller’s Four Options When Receiving an Offer

The seller has four options when receiving an offer. Those options are:

1. Agree with all the offer points and accept the offer
2. Decline the offer – hopefully in a gracious manner
3. Propose a counter offer
4. Don’t respond

Why Wouldn’t Sellers Propose a Counter Offer?

Of course, not responding is rude, disrespectful and shows a gross ignorance of the negotiation process. Why would a presumably serious seller not make a counter offer to a bona fide written offer? The answer, in my experience, lies at the fault of the listing agent.

Smart Sellers Counter Even Low Ball Offers

The listing agent’s job is to educate the seller about the negotiation process. Sellers need help; they don’t negotiate very often. The listing agent cannot control what the buyer offers, but the listing agent can advise the seller that the offer is the first step in a process to find common ground. Buyers rarely make their first offer their best offer, and occasionally their first offer is a good deal away from what they will really accept. The listing agent should make every effort to convince the seller to propose of counter offer and attempt to advance the negotiation.

Smart Buyers Don’t Make Low Ball Offers

On the other hand, buyers who make “low ball” offers – especially in a highly competitive housing market like Austin – are doing themselves a disservice. Patently low ball offers will alienate inexperienced sellers very quickly as they can’t separate the emotional value of their home and the business details of the transaction. Sometimes when the seller (or buyer) feels insulted, personal ego enters the equation causing everyone to sour on the deal. Deals that would have probably come together are lost because someone’s ego is damaged than any other single reason. Now, don’t misunderstand us. We aren’t saying buyers shouldn’t negotiate lower than list price offers. What we’re saying is don’t offer $100,000 for a home that’s priced (and supported by comps) at $500,000.

Buyers Don’t Know How to Respond to No Response

In today’s Austin real estate market, it’s not uncommon for the seller to respond to “bad offer” by either not responding or simply rejecting the buyer’s offer without any kind of reason. I don’t think that’s a smart approach, but it happens. With so many multiple offers and more than a few over-bids occurring, many buyers are bewildered about the best course of action and how best to proceed. After all, they don’t buy a home very often so they don’t get a lot of practice.

Work with a Buyers Agent who Can Educate and Coach You

It’s extremely important that a home buyer work with a Buyer’s Agent who is willing and knowledgeable enough to guide and counsel the buyer through each step. To be clear, the buyer’s agent’s job is to educate and explain what options the buyers has and what may or may not be feasible. The buyer’s agent’s job is not a decision making role, but rather that of being a knowledgeable counselor and adviser; the buyer is the sole decision-maker because – after all – it’s your money and your decision.

Ready to Start Your Home Search in Austin?

Check out our Austin Home Buyer Representation Program to learn more about our team and how we’re different than your average Realtor. Then, call us at (512) 827-8323 or email us at info@AustinRealEstateHomesBlog.com to schedule a no obligation consultation.

Texas Home Sellers are Required to Disclose That

• which the seller knows – all material facts – about the property even when the seller has never seen or lived in the property
• lawsuits or other legal proceedings may affect the property including divorce, tax claims, bankruptcy, foreclosure and heirship proceedings
• a relocation company is holding title must conform with the disclosure laws
• property has or has not working smoke detectors
• owner is negotiating a “short sale” requiring lender approval
• fire detection and safety devices are present
• previous inspection reports exist

Texas Home Sellers are NOT Required to Disclose That

• a suicide has occurred in the home
• a sex offender lives nearby
• a person died of natural causes in the property
• lead based paint is present in a foreclosure sale proceeding

Buying a Home? Stop. Look. Ask. Listen and Get It In Writing.

All home buyers would be well-served by observing these guidelines: Stop. Look. Ask. Listen and Get It In Writing. Should you not understand how a condition or issue may affect you, seek help from someone with expertise in the matter. Never rely on the seller to explain or interpret how something may affect you in the future. If an issue is especially important to you today, it will probably be more important to you down the road.

The Seller’s Disclosure Should Not Replace a Home Inspection

Don’t let the seller’s disclosure replace a thorough home inspection. Remember, the seller is required to disclose what they know (not what they don’t know) and they aren’t expected to be professional inspectors. A home inspection costs $350-$500 and is money well spent, especially if you find the home has an even bigger issue. We’ve helped people buy hundreds, if not thousands, of homes over the years and we still get a home inspection on every single house we purchase for ourselves.

Most Important Info from Seller’s Disclosure? Utility Info

Probably the most useful information you’ll find on the seller’s disclosure is the utility provider information, so keep it handy when you are packing to move. If the seller used the form that has the Austin Board of Realtors logo at the top left of page 1, then you’ll find the utility info on page 3. If the seller is using the form that has the Texas Association of Realtors logo at the top of page 1, then you’ll find the utility info on page 5.

Want More Austin Home Buyer Tips?

Check out our Austin Home Buyer Blog for several more articles and our Austin Home Buyer page for more about our team and how we help home buyers evaluate the market and the property’s condition and protect their investment. Call us at (512) 827-8323 or email us at info@AustinRealEstateHomesBlog.com to schedule a no obligation consultation.

Good Buyer’s Agents Don’t Focus on One Time Fees

Good buyer’s agents know the key to long term success is not about maximizing commissions on one specific deal. While the Buyer’s Agent will receive less commission by negotiating a lower price for their client, they can earn far more over the long term. Professional agents know that long term success lies in creating a stream of referral clients that will produce ongoing business for years. Appreciative clients often refer an agent who has done a great job to their friends, relatives and business colleagues.

Let’s Look at the Numbers

Suppose a Buyer’s Agent successfully negotiates a $20,000 price reduction. Assuming a 3% commission (keeping in mind this number is just an example as commissions are not set), the Buyer’s Agent’s commission would be reduced by $600.00 ($20,000 X 3%). We like to look at that “reduction” as an investment in our future business.

Saving Money = Happy Buyers, Happy Buyers Tell their Friends

I don’t know one buyer who wouldn’t be thrilled to keep $20,000 in their pocket if they could. Very happy buyers tell their friends, relatives and business colleagues what their agent did to save them money. Very happy buyers also remember what a great job their agent did and will likely use them when they sell their house. Do you see where I’m going with this? A $600 “investment” for potentially one or more new clients seems to be a wise business strategy. As those of you in marketing and sales know, referral business is the easiest to convert, the cheapest to acquire and the most likely to close. We would “spend” $600 every single day if it meant another happy client.

Buyer’s Agents who Focus on Short Term Hurt their Clients and Themselves

There are still agents out there who focus on maximizing the commission on each “deal” and to us, that means they aren’t doing their job. The buyer’s agent’s job is to put their clients interests above all others – including their own. If your agent isn’t doing that for you, fire them. We are very serious about our commitment to get our clients the best deal possible. By exceeding our clients expectations, we create raving fans and future business. Want to repay us for a job well done? Tell your friends and family about us!

Looking for a Buyer’s Agent Who Will Get You the Best Deal?

We’re looking for clients who will appreciate us for getting them the best deal. Check out our Austin Home Buyers page to learn more about our team and how we’re different than most Realtors. Then, call us at (512) 827-8323 or email us at info@AustinRealEstateHomesBlog.com to schedule a no obligation consultation.

Location, Location, Location

Yes, it sounds trite, but it is true. Location is the one thing that you absolutely cannot change about a property and it has a huge impact on how much you will enjoy living in the property. Our recommendation? Buy in the very best location you can comfortably and confidently afford. Homes located in the best locations are easier to sell. Homes in the best locations sell faster and for more money than homes in comparatively inferior locations. Homes served by superior schools – especially Exemplary elementary and middle schools – are in greatest demand because of the scarcity of classroom space in truly outstanding schools. Those people who recognize the importance of a quality education will pay a premium to own a home in a neighborhood served by an Exemplary school. Want more info about location? Check out our Top 9 Locational Flaws that Affect Home Values post.

Watch Your Cash Flow

Choose a zero-point mortgage loan. There seems little reason to pay “points” (prepaid interest) on a loan when you will be paying the loan off soon. While points may be deductible for tax purposes, once you pay the money is gone forever.

Minimize Upfront, Out of Pocket Costs

Find a home that requires little fixing up or improvement. The costs for substantial improvements is rarely recoverable in the first few years of ownership. If you must personalize the home for your own satisfaction, keep it modest and simple. The next buyer will probably not appreciate your efforts or taste.

Avoid New Construction

When you buy a newly constructed home from a builder or developer, you are paying top dollar for the property. The upgrades, change orders and personal added enhancements generally do not translate to increased value. So, if you are forced to sell sooner than the market can catch up, you may end up losing money. And, when it’s time to sell, you will be competing for the same buyers as the builder/developer who can offer greater incentives than you can.

Don’t Buy the Best (or Worst) Home in the Neighborhood

Ideally, buying a home slightly above the median price in the neighborhood seems to produce the best results. Owning the best home on the block usually means the less expensive homes detract from the value of the best one. And, the worst home is the least desirable because of it’s incurable defects (things you can’t change) and issues involving functional obsolescence (i.e. reverse floor plans).

Plan Your Exit Strategy Before You Buy

Before you buy, consider carefully how long you want to live in the property and examine what circumstances could force you to sell before you are ready. A prudent plan can take some of the uncertainty out of the process and build in some safeguards. While you can’t control the real estate market, you can with forethought set up more favorable circumstances to advance your life goals.

Thinking of Buying a Home You Might Need to Sell Soon?

As experienced buyer’s agents with a combined 52+ years of experience in real estate, we can help you evaluate homes to ensure you are doing everything you can to protect your investment. This way, if you have to sell soon, you have the highest chances of recovering as much money as you possibly can. Check out our Austin Home Buyer page for more about our program and learn how we’re different than most Realtors in Austin. Then, call us at (5120 827-8323 or email us at info@AustinRealEstateHomesBlog.com to schedule a no obligation consultation.

Get Your Game Face On.

It’s a competitive market out there. To be successful you must be prepared to fight for the house you really want. Other people will probably see the value in the same house you do and usually how badly a person wants something determines their degree of success.

Sell Yourself

Hand write a personal note to the seller, include a photograph of your family – even your pets. Pictures of babies work great. Try to create an emotional bond between you and the seller. Compliment the seller about something they might be proud of and express your appreciation about the home’s presentation. Most sellers have done a lot of work to prepare their home for the market, recognizing their efforts is often an effective way to separate yourself from the competition.

Be Pre-Approved and Prove It

Have a genuine, written loan approval in hand from a reputable lender. Ask your lender to write a letter stating that you are approved for the loan you stipulate in your offer. Be sure it states that your employment, income, credit history and score has been verified and substantiated. Most sellers are very concerned about their sale falling through because the buyer was not really qualified. Give the seller to peace of mind that you are ready, willing and financially able to buy.

Invest the Largest Down Payment Possible

Lenders being so cautious about who they give loans to these days, the more you can put down – the less money you’ll have to ask for – the better off you’ll be! And, the seller will look at you as a more qualified buyer. Also, less than 20% down payment usually means paying for private mortgage insurance which drives up the cost of your monthly payment. Need a great mortgage broker recommendation? Email us!

Don’t Pay Loan Points

Interest rates are so low right now that there’s not much of a reason to pay money in points. After all, points will only lower your mortgage rate and your monthly payment a very small amount – but you’ll have to spend thousands of dollars to do it. With interest rates hovering at historic lows, you’re much better off applying that money towards your down payment.

Buy for the Long Term

A home is a long term asset; it is not a “flipper.” Buy with the intention of holding the property for at least five years. Few people make a profit in the short term as the in-and-out costs of buying and selling are too large. Give the market a chance to catch up with your investment. It takes time to make money in real estate, not timing.

Location, Location, Location

It is trite but true. Buy the very best location you can confidently and comfortably afford. Before making a final decision on a home, ask yourself: How easy will it be to sell this home when I’m ready? Carefully choosing the school district, neighborhood and community can help maximize your future potential resale value.

Schools Add Value

Even if you do not have school-age children or do not intend to have children, you should pay serious attention to the quality of the local school system. When you sell the property, most of your potential buyers will have concerns and make decisions based on the performance of the school system. Many people will pay a premium price for a home served by a superior school system.

Bonus Tip: Hire A Buyer’s Agent Who Knows the Market

A good buyer’s agent will protect your money as if it were their own and they will help you ensure you don’t overpay for the property, even in this rising market. The buyer agent you hire is paid by the seller, so you pay nothing additional other than what you agree to pay the seller for their home. Buyer’s agents will help you evaluate the investment, recommend professionals who can evaluate the property’s condition and educate you on the market so you can make successful offers.

Ready to Stop Paying Rent and Become a Home Owner in Austin?

If you think it might be time for you to stop wasting money on rent and take advantage of very low mortgage interest rates, check out our Buyer Representation page to learn how our team is different than your average Realtor. Then, call us at (512) 827-8323 or email us at info@AustinRealEstateHomesBlog.com to schedule a no obligation consultation. Want to get started quickly? Fill out our Buyer Survey.

Austin Bank Owned Properties Sold Down 20%

May 2013 saw a 20% decrease in the number of bank owned homes sold in year over year figures. In May 2012, there were 60 homes that sold (closed escrow) compared to 48 homes in May 2013. Bank owned homes (foreclosures) accounted for just 4% of the total home sales in Austin, compared to 5.6% of the total sales in May 2012. The overall market saw a 12% increase in the number of homes sold compared to last year’s numbers.

Austin Bank Owned Homes Under Contract Down 46%

Also trending downward was the number of bank owned homes, foreclosures, that accepted a contract. In May 2013, there were 40 homes that accepted a contract (pending) compared to 74 homes in May 2012 marking a 46% (34 home) decrease in year over year numbers. Bank owned homes accounted for only 3.2% of the homes that went under contract. The total market had an 8% increase in the number of homes that went pending compared to last year at this time, showing just how small a percentage the distressed market takes in Austin.

Austin Bank Owned Listed for Sale Down 59%

In May 2013, we saw a 59% (47 home) decrease in the number of bank owned homes, foreclosures, listed for sale. In May 2012, there were 79 foreclosures (homes owned by the bank) listed for sale compared to just 32 in May 2013. We hear all the time about “shadow inventory” and banks holding any homes they own to later flood the market, but it doesn’t seem like that is going to be the case, at least for the foreseeable future. With the Austin housing market as hot as it is, if banks had more inventory to sell, I think they would take advantage of the increased demand and start to release more of their homes and put more money in their pockets.

Austin Bank Owned Homes Currently for Sale Down 60%

The number of bank owned homes in Austin currently on the market went from 174 in May 2012, to just 70 in May 2013 marking a 60% (104 home) decrease. The full market was down 21%, which is nothing compared to the bank owned market. Number of bank owned homes for sale made up just 2.2% of the market in May 2013. It seems buyers are recognizing deals with buying bank owned homes and moving them off the market.

Austin Bank Owned Homes that Didn’t Sell Same as Last Year

In both May 2012 and May 2013, banks took 6 homes off the market that didn’t sell. As with the overall market, buyers are snatching up bank owned home inventory where even the ones in poor condition are selling (for the right price). Bank owned homes taken off the market in May 2013 were 2.9% of the total homes that were taken off the market, showing there really is a demand for bank owned homes and that banks price their homes to sell and sell quickly.

What Do Austin Foreclosure Numbers Mean for Buyers?

Bottom line if you are pursuing foreclosures in Austin as part of your home buying strategy, make it just that – part of your strategy. With so few bank owned homes on the market in Austin, you should open up your search to both homes owned by the bank and homes owned by traditional sellers. Remember, the traditional seller has to compete with bank owned properties if they want to get their homes sold. And, with interest rates as low as they are, you might find yourself paying even more for a bank owned home if you wait until the end of the Summer.

Looking to Buy a Foreclosure in Austin?

With a combined 55+ years of experience, our team knows how to get banks to accept your offers, even in a competitive market like we’re seeing here in Austin. For more, check out Guide to Buying Foreclosures in Austin and our Buying a Home in Austin Guide. Then, call us at (512) 827-8323 or email us at info@AustinRealEstateHomesBlog.com to schedule a no obligation conversation. Together we can come up with the best strategy for you to buy a bank owned home in 2013.

Austin Housing Inventory Down 41%

As it’s been for past several months, the biggest news in the Austin housing market comes by way of inventory. In May 2013, we saw a 41% decrease in months supply of inventory in year over year numbers with a slight increase from April 2013 numbers to less than 1 1/2 months of single family home inventory currently on the market. In the more desirable Austin neighborhoods, we are seeing an even less inventory available, which is to be expected. May 2012 saw 2.3 months of inventory, which is indicative of a strong sellers market. May 2013′s less than 1 1/2 months of inventory shows an even stronger seller’s market.

What does this mean to buyers? If you’re in the market to buy, be proactive, especially if you’re looking in one of the more desirable neighborhoods or if you are in the market to buy a home that’s priced at $250,000 or below. Homes that are priced right are selling within a matter of hours, many of them with multiple offers and for more than list price. Buyers can’t afford to wait a week to look at a home. Making home buying a priority will ensure you don’t miss out on a great house.

What does this mean to sellers? If you’re thinking about selling, now is the time to do it. If you aren’t too thrilled with your neighborhood, or want to be in a better neighborhood, the money you will make on the home you need to sell will make up for the extra you might spend on the house you buy. We haven’t seen this extreme a seller’s market in Austin in years. Interest rates are incredibly low and buyers are starting to get eager to buy something before they go back up.

21% Fewer Homes on the Market than May 2012

In May 2013, we had 3,210 homes listed for sale in Austin, compared to 4,077 in May 2012. As you can see below in the properties listed for sale numbers (which are up in year over year numbers), we have less properties for sale, but that’s not because we have fewer homes being listed. We actually have 8% more homes being listed than we had last year at this time. This shows us just how many buyers are currently in the market to buy. And, with inventory shrinking each month and new listings rising, it appears as though buyers are either relocating from out of the area or renters, with no local homes to sell.

Austin Median Home Price Up 8%

This month, we saw an 8% increase in the median home sale price of a home in Austin. In May 2013, the median home price was $300,390 compared to $277,750 in May 2012. Median home price helps us see the distribution of homes being sold and does not really give us an indication of the increase or decrease in a particular home’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Austin Neighborhood Market Reports.

Number of Sold Homes in Austin Up 10%

In May 2013, Austin saw a 10% increase in the number of homes sold from May 2012 to May 2013 numbers. In May 2013, we saw 1,190 homes sell in Austin compared to 1,078 in May 2012. Last Spring showed strong numbers, but this Spring continues to outpace last year’s market in record numbers. It will be interesting to see what this Summer brings.

10% More Austin Homes Under Contract

In May 2013, there were 1,272 homes that went pending compared to 1,161 in May 2012 marking a 10% increase. 2013 has started out strong and continues to bring multiple offers to the most desirable properties. It seems there are still plenty of buyers in the market to support more sales.

Number of Homes Listed for Sale Up 8%

In May 2013, we saw an 8% increase in the number of homes being introduced to the market than in May 2012. In May 2013, there were 1,559 homes listed for sale in Austin compared to 1,446 in May 2012. This is another indicator of just how many buyers are out there. With only a slight increase in the number of homes that are being listed for sale, we saw a remarkable increase in the number of homes sold meaning even the less desirable homes are selling. If you need to sell, strike while the iron is hot. Buyers are competitive and are out in full force. With prices going up, buyers are settling for a smaller home or a more expensive home than they would in a weaker market. Take advantage of market conditions to get the highest possible price for your home.

Number of Homes Taken Off the Market Down 14%

Almost twice as many homes were taken off the market (expired) in May 2013 compared to April 2013, which is likely a result of the time of year. Sometimes unsuccessful sellers take their homes off the market in the Summer to accomodate vacations and kids being home from school. In May 2012, 247 homes were taken off the market and in May 2013, 212 were taken off the market. Though more homes were taken off the market this month than last month, we still saw a 14% decrease in year over year numbers, which is another indicator of hte strength of the market.

Did your home expire? Check out our Austin Home Not Selling resources page to find out why.

Time to Sell Home in Austin Down 30%

In May 2012, it took, on average, 41 days to sell a home in Austin while in May 2013, it took around 29 days. A normal market is considered 90 days, so 29 days is incredibly fast and 2 days faster than April 2013. Remember, this figure takes into account all of Austin. In the more desirable neighborhoods, we’re seeing this number go way down – some averaging just a few days and others even just a few hours.

Supply is Down 21% and Demand is Up 10%

This month we’ve seen a 21% decrease in supply (number of properties for sale) and a 10% increase in demand (number of sold properties). Yet another indicator more residents are deciding to stay put while others continue to move to Austin in record numbers or decide to stop throwing money away on rent.

Median for Sale Up 18% vs Median Sold Price Up 8%

This chart compares the Median for Sale Price vs the Median Sold Price to show their relationship. In Austin, we saw an 18% increase in the median for sale price and an 8% increase in the median sold price of a single family home in year over year numbers. As we saw the last few months, sellers appear to be more successful at getting buyers to come up to their price, even though they are setting higher list prices, an indication of the strength of the market.

Source: Clarus Market Metrics, ACTRIS Sold Data

May 2013 Real Estate Price Report – Strictly Numbers

For those of you who prefer to see the actual hard numbers, we’ve included the figures for May 2013 Austin home sales below. The most expensive home that sold in May 2013 was $3,545,000 and the least expensive home sold for $0, though that appears to be a mistake in the data. Homes range in size from 492 sqft-10,379 sqft with an average size of 2,348 sqft. The average price per square foot was $160.27 with the lowest being $36.06/sqft and the highest being $634.32/sqft. It took, on average, 27 days to sell a home in Austin and sellers received, on average, 99.67% of their list prices.

May 2013 Days on Market Report

The overwhelming majority (73.94%) of the 1,201 homes that sold in Austin in May 2013 (888) sold in less than 30 days and received, on average, 100.54% of their list prices. As homes stayed on the market longer, sellers received less than their list prices with homes that have been for sale for 120 days or more receiving, on average, 96.17% of their list prices. The lesson here? Homes that are priced right from the beginning sell quickly and for list price, or even a little bit more.

May 2013 Price Analysis Report

The majority of the homes that sold in Austin in May 2013 were priced below $500,000, which is to be expected. You’ll also see that the lower priced homes sold faster than the higher priced homes, which is due largely in part to the increased market for homes below $500k. But, this month we do see homes in the $500k’s and $600k’s selling about as fast as hones in the $200k’s, which shows the strength of the market for trade up homes.

May 2013 Summary Price Report

Below you’ll find a breakdown of the sales prices of homes in Austin. The average price of a home that sold in May 2013 was $383,575 and the median price was $300,000.

Time to Buy? Sell?

As we always say, the best time to buy or sell a home is when you need to buy or sell. If you have a house to sell, selling when its a buyers market may hurt you on the selling end, but you’ll make it up on the buying end. If you’re trying to get into the market for the first time, the only way you’ll know that we’ve “hit bottom” is when its in the rear view mirror. Work with professionals who can help you analyze your financial and lifestyle to determine if now is the right time to buy or sell.

Looking strictly at the numbers, it appears the recommendation for this month is (again)…it’s time to sell. With inventory at record lows, a home that’s priced right will have no problem finding a buyer. Buyers again came out in record numbers yet again in May 2013 with a 10% increase in the number of contracts received by sellers in year over year numbers. As we head into May 2013, buyers who have been waiting for more inventory will continue their searches. Get your home on the market now and be moved into your new home by the beginning of the school year. If you’re looking to sell, we can help you get top dollar for your home in the shortest time. For more info about the best home selling program in Austin, visit Sell My Austin Home.

If you’re a buyer, that doesn’t mean sit on the fence and wait. Interest rates have jumped up a bit, but are still at all time lows, which could mean the difference in hundreds of dollars to your payment. As more and more inventory gets snatched up, you’ll find less and less available. Waiting until the market slows down could mean you could afford less home if interests rates go up. And, as buyers continue to snatch up everything, market values will go up as well. If you’re looking to get into the market, the best time to find a great deal is any time you can. For more info about our Home Buyer Representation Program, check out Austin Buyer Brokers.

Questions About the Austin Real Estate Price Report?

Do you have questions about this Austin Real Estate Price Report? Call us at (512) 827-8323 or email us at info@AustinRealEstateHomesBlog.com and we’ll help you in any way we can. If you’re looking to buy or sell Austin real estate, don’t forget to check out our Buyer Resources and our Seller Resources for more tips.

Central Austin Homes Near Downtown Below $800,000

Central Austin neighborhoods are located on the same side of the river (Lake Austin, Lady Bird Lake, or Town Lake) and are the neighborhoods you’d choose if you wanted to be closest to Downtown. Some of them are within walking distance to the restaurants and shopping and others resemble residential neighborhoods. Take a look at each of the neighborhood guides for more info about each Central Austin neighborhood with homes below $800,000.

• Clarksville
• Old Enfield
• Tarrytown
• Westfield
• Downtown
• Hyde Park
• Bryker Woods

South Austin Homes Near Downtown Below $800,000

South Austin is just south of the river and is located in the popular 78704 zip code. The four nicest 78704 neighborhoods, which are also closest to Downtown are listed below. The better schools can be found in Zilker and Barton Hills. You’d choose South Austin if you wanted more walkable neighborhoods with a less urban looking restaurant and shopping scene. Take a look at each of the neighborhood guides for more info about each South Austin neighborhood with homes below $800,000.

• Zilker
• Barton Hills
• Bouldin Creek
• Travis Heights

West Austin Homes Near Downtown Below $800,000

If you’re looking for the very best public schools in Austin, but don’t want to be too far from Downtown, you would choose to live in West Austin’s (also West Lake Hills and Rollingwood) 78746 zip code. This area is much more suburban looking, with homes built in the 1970s and 1980s and some complete remodels. 78746 is the most expensive zip code in Austin, so you’ll get less home for $800,000 here. But, you won’t find better public schools in the entire metro area. Take a look at each of the neighborhood guides for more info about each West Austin neighborhood with homes below $800,000.

• Westwood
• Parkstone
• Hills of Lost Creek
• Rob Roy
• Timberline Terrace
• Westlake Highlands

Still Not Sure Which Austin Neighborhoods are Right for You?

Call us at (512) 827-8323 or email us at info@AustinRealEstateHomesBlog.com with what you’re looking for in a home and/or neighborhood and we can make some other suggestions.

Homes for Sale Near Downtown Austin Below $800,000

Relocating to Austin?

Having relocated to Austin from San Francisco about 4 years ago, we know exactly what you’re going through. We specialize in home buyers relocating to Austin and can help make your move as stress free as possible. Check out our Austin Relocation Guide and our Austin Relocation Blog for more tips. When you’re ready to speak to a Realtor about your move, call us at (512) 827-8323 or fill out our Austin Relocation Survey to get the process started.

Home Sales Data Hard to Come by in Austin

If you don’t know, Texas is a non-disclosure state, which means we can’t post home sales information for the public to see. As annoying as this may be to the consumer, it keeps the appraisal district from knowing what homes sold for and ultimately keeps your property taxes lower. This is the main reason you don’t see home sales information plastered all over the internet like you do in other areas of the country.

How You Can Find Out What Your Neighbors Home Sold for Without Asking

We’ve just introduced a new report, called a Market Snapshot, where you can get neighborhood sales data like a Realtor. All you have to do is input your location (street address or a zip code) and the neighborhood report will be sent to your email – without ever speaking to a Realtor. The report shows all real estate market activity near your home, including what your neighbors home sold for (once it closes escrow).

How Do I Sign Up for the Report?

All you have to do is fill out the form below. Want a sample of what you’ll get in the report? Click “View Sample Analysis” under the “A: Real-time Market Snapshot” in the sign up box or scroll down for a screen shot.

What Does the Report Look Like?

You will get a detailed report (without the black marks you see on the one below) sent to your email monthly, though you can opt for weekly, bi weekly, bi monthly, quarterly, bi yearly and yearly. The area we selected below (near the Texas State Capitol Downtown) does not have too many single family homes for sale, so you only see a few results. Your report will have all the data for your neighborhood.

What Neighborhoods Does this Report Cover?

We have reports for every single neighborhood in the Austin metro area, including all suburbs. Simply put in your info on the form above and get your report delivered to your email in a few minutes.

Will You Hound Me with Emails?

Absolutely not! We hate to be bugged more than you do. We are way too busy to hound you with emails asking you if you’re ready to buy or sell. But, we are never too busy to help people who need our help. If you ever decide to buy or sell and you think we could help you, don’t hesitate to reach out. In the meantime, take advantage of this free report and keep up with home sales in your neighborhood.

Need Help Interpreting Your Report?

We can help with that too! Simply email us at info@AustinRealEstateHomesBlog.com or call us at (512) 827-8323 with your questions.

A Good Buyer’s Agent Will Not Sell You

Buying a home is the biggest financial investment most people will make. As buyer’s agents it is our job to help you make an informed decision about the home you’re buying, not try to convince you the brand new stainless steel oven will really be helpful when you have guests over during the Holidays or (and this one is my favorite) “here is the kitchen.” We know you can see the pretty things and you definitely know what a kitchen looks like, so we don’t waste your time pointing those things out. Instead, we focus on things that will hurt your resale value, things about the property’s condition that pose red flags and things that will cost you money.

A Good Buyer’s Agents Will Help You Make an Educated Decision

There’s a lot that goes into deciding which home is right for you. We’ll help you analyze your family’s living situation and help you determine which home is right for you. A good buyer’s agent will present all the pros and cons of the neighborhood, the market and the specific home. Armed with all the facts, you can decide what home is the best for you and your family.

A Good Buyer’s Agent Will Point Out Potential Resale Problems

The best time to think about selling a home is before you buy it. A good buyer’s agent will point out potential resale problems of a home before you are even thinking about buying it. When you work with our team, we go through every single house and show you what’s going to bother other buyers and what about the property is going to make it difficult to resell. Before you put your money into a home, we want you to understand what obstacles you might face when the time comes to sell it. This doesn’t mean don’t buy a home with any potential resale problems, this just means understand them and make sure you don’t overpay.

Good Buyer’s Agents are Expert Negotiators

A good buyer’s agent is a great negotiator. They know how to craft and present offers that get accepted in any type of market. A great negotiator can mean the difference in thousands of dollars to your bottom line or losing the house of your dreams.

A Good Buyer’s Agent Can Evaluate the Local Market

All real estate is local. The real estate market in Austin as a whole is not the same as the real estate market in a specific neighborhood. A good buyer’s agent will show you the numbers, explain what they mean and help you understand where the market is going in the short term. Buyer’s agents are out everyday and have a good sense for how much activity the market is seeing. This goes way beyond reviewing recent sales. Good buyer’s agents help you use their market knowledge to craft offers and save you money. If the market is trending down, but recent sales support a higher price, a good buyer’s agent will recommend offering a lower price. In competitive, multiple offer markets, a good buyer’s agent will help you make your offer the most appealing and that doesn’t just mean throwing money at a seller.

Recommend Professionals Who Can Evaluate the Property’s Condition

A good buyer’s agent will have a long list of professional home inspectors, roofers, plumbers, chimney inspectors, septic inspectors, pool inspectors and any other type of inspector that will help a buyer evaluate what they are buying. We call our inspector the “deal killer” because he can write a 20+ page report on a house that has nothing seriously wrong with it. We got on our hands and knees the other day for him to show us a hairline crack in a foundation. One small, cosmetic crack that could not be seen standing up. At the end of the home inspection, the buyer knew exactly what he was buying, knew the homeowner maintenance tasks he needed to do when he moved in and walked away confident the house was in good shape.

Good Buyer’s Agents Will Protect Your Interests Above All Others

When you hire a buyer’s agent to represent you, their job is to protect your interests above all others in the transaction, including their own. You’ll have their expertise at your disposal and someone who is working to get you the best deal, help you know what you’re buying and protecting you through every step of the process.

Better Service from Your Buyer’s Agent

Committing to working with one buyer’s agent (or team of agents in our case) will ensure you get the best service. When we decide to work with a buyer and they commit their loyalty to us, we commit 100% of our resources and expertise to find them a home and negotiate the best possible deal. A good buyer’s agent will only work with buyer’s who are committed to them.

The Listing Agent’s Job is to Get the Best Price for the Seller

Remember when calling listing agents, their job is to get the highest price for their seller. They cannot point out potential resale problems or do anything to undermine the seller’s bargaining position. Their job is to sell you that specific house, like a used car salesman, not help you understand what you’re buying and help you make the best possible investment.

How Do You Find a Valuable Buyer’s Agent?

Of course, all of this is dependent on you finding a good buyer’s agent, one that will add value, not just put you in their car, drive you around and say “do you want to buy this one? what about this one? or this one? this one?”. Our recommendation would be to interview buyer’s agents and find one that you trust. Here are 10 Questions to Ask When Interviewing Buyers Agents. Also, ask them what credentials they have. Are they an Accredited Buyer Representative (ABR) or a Certified Residential Specialist (CRS)? Credentials show buyer’s agents are doing everything they can to educate themselves and better serve their clients.

Looking for a Good Buyer’s Agent in Austin?

We have a combined 55+ years experience representing buyers. Raymond was the first Broker in the San Francisco area to represent buyers at a time where every agent represented the seller. Both he and I have our CRS and ABR designations and continue to improve our systems and procedures so Austin home buyers have the best home buying experience possible. If you couldn’t tell, buyer representation is something we feel very strongly about. Check out our Buyer Representation Program to learn more about who we are and how we work. Then, call us at (512) 827-8323 or email us at info@AustinRealEstateHomesBlog.com to schedule a no obligation consultation.