78% OF BUYERS MISS THIS
Since 2007, we've found Over 2500 homes for Austin renters and home owners — we are the market leader.
#1 & 2 BUYER MISTAKE
The #1 mistake Buyer’s make is they don’t know what market they’re in. If you’re coming from Cincinnati to Austin, that market’s value won’t overlay over Austin’s real estate market. If you don’t understand what market you’re in, you’ll have a hard time understanding the value basis and will think everything’s too high and this is where you’ll hear – “Well, why don’t we offer X!” (a price hundreds of thousands of dollars less than asking).
When it’s a Seller’s market, there are not as many houses, but plenty of Buyers. The opposite is true in a Buyer’s market. When your city has less than six months of inventory, this is referred to as the classic Seller’s market. When there is more than six months of inventory for the city’s housing appetite (absorption rate) this is referred to as a Buyer’s market.
KNOWING PROPERTY TYPE
What type of property, where is important. Houses, condos, and duplexes are all approached differently, make up their own segment of market share, and all have features that the other doesn’t.
Also, type can also lend financial overtones – new homes typically have great incentives via appliances, money off, etc. as well as being energy efficient to own and operate, but for a mid century modern enthusiast, this wouldn’t be appropriate.
National real estate news trends and TV shows don’t typically echo the Austin real estate market which is an outlier, although the city isn’t a metropolitan. For instance, Austin’s leasing market is unique, large, and fast moving, rivaling larger cities like New York.
Leasing and residential real estate blend as investment properties and with living being refined by Tiny Homes and Airbnb, some person’s initial purchase may have a lease investment property built in.
If you’ve purchased in Austin before then you know how quick real estate happens here (about the only thing that happens fast in Austin).
1. Finances – You’ll have to have the last two years of your taxes ready. We have financial affiliates that will look at you ‘on paper’ at no charge to you to see how far and what you’ll need to become a home owner
2. Being at your job, in the same industry for two years or longer — in general is an accepted norm for most mortgage loan approvals
3. Understand property type – there are tax and logistical advantages that house have that condos have – vice versa.
4. You find your area by lifestyle – your agent is the expert in the city. An appointment or three, tacos and coffee, or via email, your home landing should be intentional.
5. Ask your agent about local home assistance programs available to nearly anyone — cash back to you to soften the cost or purchasing (down payment, etc.)
6. Always have the Brokers’ cell — say you won’t work with the brokerage if not.
7. Neighborhood Experts – this is a typically rookie tell and telegraphing that you only know one areas and you live in the area. Anyone with experience is an expert in many areas, the entire city.
8. Winter Home Sales are typically 30% less