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<h2>Preparing Your Home for the Market</h2>When selling your house in Austin this fall, preparation is key. Start by decluttering each room. Buyers need to see the space, not your personal items. Consider renting a storage unit for extra furniture and belongings. A clean and organized home makes a great first impression.Next, focus on repairs. Fix leaky faucets, replace broken tiles, and touch up paint where needed. These small changes can make a big difference in how potential buyers perceive your home.Being a full-time Realtor, I encourage my clients to take it up a level and have the home pre-inspected. That can show potential buyers the condition of the house and help lessen "surprises" that can make your property stand above other properties.<figure id="figure-h1c8vs4yom2j36vxm"><img id="h1c8vs4yom2j36vxm" src="https://images.unsplash.com/photo-1715609812776-c4700164a867?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxOXx8YXVzdGluJTIwaG91c2V8ZW58MHx8fHwxNzI5NTE5MzkyfDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="austin house" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1715609812776-c4700164a867?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxOXx8YXVzdGluJTIwaG91c2V8ZW58MHx8fHwxNzI5NTE5MzkyfDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Setting the Right Price</h2>Pricing your home correctly is crucial. Research the local market to understand current trends. Look at similar homes in your area that have recently sold. This information will help you set a competitive price that attracts buyers.Consider hiring a real estate agent. I have the expertise to help you determine the best price for your home. An agent can also provide valuable insights into the Austin market.At this time, properties are sitting on the market over 79 days with 5.9 months of inventory (ABOR Stats). Therefore, there is a lot of competition. I see several properties that are overpriced, and given the market conditions if a house is priced too high, it can take even longer to find that buyer. Therefore, it is important to list your property according to market value.&nbsp;<h3>Understanding Market Trends</h3>Austin's real estate market can be dynamic. Stay informed about market trends. This knowledge will help you make informed decisions when selling your home. An agent can provide regular updates and advice on how to adjust your strategy if needed.<figure id="figure-t45jgkr9pwm2j370fj"><img id="t45jgkr9pwm2j370fj" src="https://images.unsplash.com/photo-1560185127-6ed189bf02f4?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxM3x8cmVhbCUyMGVzdGF0ZXxlbnwwfHx8fDE3Mjk1MTkzOTd8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="real estate" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1560185127-6ed189bf02f4?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxM3x8cmVhbCUyMGVzdGF0ZXxlbnwwfHx8fDE3Mjk1MTkzOTd8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Marketing Your Home</h2>Marketing is an essential step in selling your home, and this is an important question to ask your Realtor/Real Estate Agent how he/she will do to help sell your property? Once you find your agent, start by taking high-quality photos. These images will be used in online listings and marketing materials. Consider hiring a professional photographer for the best results.Next, create an appealing listing description. Highlight the unique features of your home and its location in Austin. Use clear and concise language to attract potential buyers.<h3>Utilizing Online Platforms</h3>Online platforms are a powerful tool for reaching buyers. List your home on popular real estate websites. Share your listing on social media to increase visibility. The more people see your home, the higher the chances of finding a buyer.<figure id="figure-r772ab436pm2j370rz"><img id="r772ab436pm2j370rz" src="https://images.unsplash.com/photo-1709715357487-bd8d5f319560?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxOHx8b25saW5lJTIwbWFya2V0aW5nfGVufDB8fHx8MTcyOTUxOTM5OHww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="online marketing" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1709715357487-bd8d5f319560?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxOHx8b25saW5lJTIwbWFya2V0aW5nfGVufDB8fHx8MTcyOTUxOTM5OHww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Hosting Open Houses</h2>Open houses give buyers a chance to see your home in person. Prepare your home by cleaning thoroughly and staging rooms. Make sure the home is well-lit and inviting.During the open house, be available to answer questions. Provide information about the neighborhood and nearby amenities. This interaction can help buyers feel more connected to your home.<h3>Following Up with Potential Buyers</h3>After the open house, follow up with potential buyers. Send them additional information about the home and thank them for visiting. This follow-up can keep your home top of mind as they make their decision.Selling your house in Austin this fall can be a smooth process with the right preparation and strategy. By following these steps, you can increase your chances of a successful sale.<h3>Conclusion</h3>Selling your home in Austin, TX, can be a complex process, but with the right preparation and guidance, it doesn't have to be overwhelming. From understanding market trends to staging your property and negotiating offers, each step is crucial to maximizing your home's value. Partnering with an experienced, full-time Realtor in Central Texas ensures that you receive personalized advice tailored to your specific situation.If you're ready to sell your home or simply exploring your options, contact me today. Together, we'll develop a strategic plan to position your property for success in the Austin real estate market. Let's make your next move a profitable and stress-free experience!

Essential Steps to Selling Your House in Austin This Fall

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<figure id="figure-ciaa9uhh7sm1f2odfj" class=""><img id="ciaa9uhh7sm1f2odfj" src="https://cdn.durable.co/blocks/cHQCvJJvt40zpuUVFM5n2nxovHNYUwN1qves6vRQITy1ajxCIoMAKj5clQbkw5dz.png" alt="water poll near house during golden hour" title="water poll near house during golden hour" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 1/1; object-position: center center;" data-corners="default" data-aspect="1:1" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/cHQCvJJvt40zpuUVFM5n2nxovHNYUwN1qves6vRQITy1ajxCIoMAKj5clQbkw5dz.png" data-mce-style="aspect-ratio: 1/1; object-position: center center;"></figure>&nbsp; Austin Housing Market Update – August 2024: Rising Inventory, Lower Prices, and Opportunities for Buyers and SellersThe Austin housing market continues to shift, creating both opportunities and challenges for buyers and sellers. Whether you're considering buying your first home, upgrading, or selling your property, understanding current market trends is crucial for making informed decisions.Key August Housing Market Trends:1. Increased Inventory August saw a noticeable uptick in housing inventory across the Austin area. This means more options for buyers, giving you the opportunity to find a property that suits your needs and budget. For sellers, the rise in inventory creates competition, so strategic pricing is essential for a quicker sale.2. Longer Days on Market Homes are staying on the market longer compared to previous months. While this trend may seem concerning for sellers, it's a reflection of the more Buyer's market, offering buyers more options and have the ability to negotiate favorable terms.3. Drop in Median Home Price The median home prices in Austin continues to fall, and this provides potential buyers a chance to enter the market with more affordable price points. For sellers, it’s crucial to understand that while prices have dipped, properties priced accurately for the market are still in high demand.4. Multiple Offers for Well-Priced Homes Despite the general slowdown, homes that are priced right are still receiving multiple offers within the first week. Buyers are willing to move quickly on properties they see as a good deal, which means if you’re selling, setting a competitive price is key to maximizing your return on investment.What This Means for Buyers:With more inventory and longer days on market, buyers have more negotiating power. The drop in median price and mortgage rates could make now the perfect time to buy before prices adjust again. However, be prepared to act quickly if you find a property that’s priced well—those are moving fast!What This Means for Sellers:Pricing your home correctly is more important than ever. Overpricing could result in your property sitting on the market for extended periods of time. For those properties that are priced accurately, more potential home buyers are visiting and we are seeing multiple offers come in within the first week of being on market.With the lower mortgage rates, my team of Loan Originators are receiving an uptick in applications. Therefore, now can be a great time to list! However, you'll need the right strategy to stand out in a competitive market. If you are thinking about selling, I will love to learn your motivation and let's create a roadmap that fits your goal.Conclusion:Whether you're buying or selling, having a trusted partner who understands the current market trends is essential. As a real estate professional, my goal is to understand what motivates you and create a tailored roadmap to help you maximize your real estate investment.Curious about how these trends impact your next move? Contact me today to schedule a consultation. Let’s work together to make sure you achieve your real estate goals in this evolving Austin market!

Austin Housing Market Stats for August 2024

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<h2>Understanding the Fed Rate Cuts</h2>The Federal Reserve recently announced a cut in interest rates. This decision affects many sectors, including real estate. For those in Austin, it's essential to understand how these changes impact the local market.Interest rates influence borrowing costs. When the Fed lowers rates, borrowing becomes cheaper. This can lead to increased activity in the real estate market as more people can afford loans.<figure id="figure-06x46uo5e9m189qikw"><img id="06x46uo5e9m189qikw" src="https://images.unsplash.com/photo-1641932971241-df935a6d16e1?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxNnx8aW50ZXJlc3QlMjByYXRlc3xlbnwwfHx8fDE3MjY2ODg0NzN8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="interest rates" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1641932971241-df935a6d16e1?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxNnx8aW50ZXJlc3QlMjByYXRlc3xlbnwwfHx8fDE3MjY2ODg0NzN8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure>costs mean lower monthly mortgage payments. This can make homeownership more accessible to more people.However, it's important to act quickly. As demand increases, home prices may rise. Buyers should stay informed and act when they find the right opportunity.<h3>Effect on Sellers</h3>Sellers in Austin may also see positive effects. With more buyers in the market, homes may sell faster. This can lead to a more competitive market, potentially driving up home prices.Sellers should work with real estate consultants to price their homes correctly. This ensures they can maximize their returns in a dynamic market.<figure id="figure-qfhwjve9sm189qjwd"><img id="qfhwjve9sm189qjwd" src="https://images.unsplash.com/photo-1523217582562-09d0def993a6?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxMnx8aG9tZSUyMHNhbGV8ZW58MHx8fHwxNzI2Njg4NDc1fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="home sale" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1523217582562-09d0def993a6?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxMnx8aG9tZSUyMHNhbGV8ZW58MHx8fHwxNzI2Njg4NDc1fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure>. Lower interest rates can lead to more people buying homes. This might reduce the demand for rental properties.However, not everyone will choose to buy. Some may still prefer renting. Landlords should monitor market trends and adjust their strategies accordingly.<h3>Investment Opportunities</h3>Real estate investors can benefit from lower interest rates. Cheaper borrowing costs can make financing investment properties more attractive.Investors should analyze the Austin market carefully. They need to identify areas with the most potential for growth and return on investment.<figure id="figure-7kfuh7pgfom189ql5t"><img id="7kfuh7pgfom189ql5t" src="https://images.unsplash.com/photo-1484154218962-a197022b5858?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxMHx8aW52ZXN0bWVudCUyMHByb3BlcnR5fGVufDB8fHx8MTcyNjY4ODQ3N3ww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="investment property" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1484154218962-a197022b5858?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxMHx8aW52ZXN0bWVudCUyMHByb3BlcnR5fGVufDB8fHx8MTcyNjY4ODQ3N3ww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure>Staying informed and working with knowledgeable real estate consultants can help individuals and businesses navigate these changes effectively.<h2>Conclusion</h2>The recent Fed rate cuts present opportunities and challenges for the Austin real estate market. Home buyers, sellers, renters, and investors should all stay informed and act strategically.By understanding these impacts and working with experts, you can make the most of the current market conditions. Whether buying, selling, or investing, now is a crucial time to engage with the Austin real estate market.If you are considering buying, selling, or investing, it is important to work with a REALTOR who knows, understands the housing market in Austin and Central Texas. It will be my privilege to talk so I can learn what your interests are, and be able to provide a path to achieve.&nbsp;

How Today's Fed Rate Cuts Impact Austin Real Estate

white concrete house near green tree during daytime

<h2>Understanding Your Needs</h2>Before you start looking for a home, it's important to understand your needs. Think about the size of the home you need, the location, and your budget. Knowing what you want will help you narrow down your options and make the process smoother.Consider your long-term plans. Are you planning to start a family? Do you need space for a home office? These factors will influence your decision. Make a list of your must-haves and nice-to-haves to guide your search.<figure id="figure-2yayd6rgi8m0v5ryfy"><img id="2yayd6rgi8m0v5ryfy" src="https://images.unsplash.com/photo-1496180727794-817822f65950?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyMHx8aG9tZSUyMHNlYXJjaHxlbnwwfHx8fDE3MjU4OTU3NTl8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="home search" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1496180727794-817822f65950?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyMHx8aG9tZSUyMHNlYXJjaHxlbnwwfHx8fDE3MjU4OTU3NTl8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Getting Pre-Approved for a Mortgage</h2>One of the first steps in the home buying process is getting pre-approved for a mortgage. This will give you a clear idea of how much you can afford. It also shows sellers that you are serious about buying.To get pre-approved, you will need to provide financial information to a lender. This includes your income, debts, and credit history. The lender will then determine how much they are willing to lend you.Remember to shop around and compare offers from different lenders. This can help you find the best interest rates and terms for your mortgage.I have a team of Loan Originators who I trust, and can help my clients find the right type of loan with the best rates and terms available through multiple lenders. While securing a loan can take a lot of work, they are proactive on the backend to where they can help identify potential issues, and address prior to closing.<figure id="figure-kqogri6r43m0v5rzsy"><img id="kqogri6r43m0v5rzsy" src="https://images.unsplash.com/photo-1555421689-d68471e189f2?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNnx8bW9ydGdhZ2UlMjBhcHByb3ZhbHxlbnwwfHx8fDE3MjU4OTU3NjF8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="mortgage approval" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1555421689-d68471e189f2?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNnx8bW9ydGdhZ2UlMjBhcHByb3ZhbHxlbnwwfHx8fDE3MjU4OTU3NjF8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Work with a Real Estate Agent.</h2>While the number of real estate agents out there are abundant, it is important to find an agent who understands you and what you are specifically looking for. Purchasing property tends to be one of the largest investments one will make. Therefore, you want someone who you can trust, knows the local market, and someone who can help maximize your investment.As a REALTOR in Austin, Texas, it is my goal to understand my clients unique situation to where I will be able to look out for their best interests and negotiate the best deal possible. I try and learn everything about my clients to where I can help find the right property that fits their needs, wants, and style within a specific location.As of August 17, 2024, the real estate market has gone through recent changes. Therefore, it is important to work with a REALTOR or Real Estate Agent who understands and stays compliant with the new regulations.<h2>Viewing Homes</h2>Once you have a clear idea of your needs and budget, it's time to start viewing, touring homes. Make a list of properties you want to see and schedule appointments with your agent.As you tour each home, take notes and pictures to help you remember the details. Pay attention to the condition of the home, the layout, and any potential issues.<h2>Making an Offer</h2>When you find a home you like, it's time to make an offer. Your real estate agent can help you determine a fair price based on comparable homes in the area. They will also guide you through the negotiation process.Be prepared for counteroffers from the seller. Stay within your budget and be willing to walk away if the terms are not favorable. It's important to remain patient and not rush into a decision.<h2>Going Under Contract, Home Inspections, and Appraisals</h2>After you go under contract (offer accepted), it is encouraged to have a home inspection. This will identify any potential issues with the property. If the inspection reveals major problems, you may need to renegotiate the price or ask the seller to make repairs.An appraisal is also required by most lenders to ensure the home's value matches the loan amount. This step protects both you and the lender.<h2>Closing&nbsp;</h2>The final step in the home buying process is closing the deal. This involves signing the necessary paperwork and paying closing costs. Your real estate agent and lender will guide you through this process.Before closing, do a final walk-through of the home to ensure everything is in order. Check that all agreed-upon repairs have been made and that the home is in the expected condition.<h2>Moving In</h2>Once the deal is funded, it's time to move into your new home. Plan your move carefully to ensure a smooth transition. Update your address with important contacts and set up utilities in your new home.Take time to settle in and make your new house feel like home. Enjoy the process of decorating and personalizing your space.<figure id="figure-3a1a2tj2sym0v5s6x2"><img id="3a1a2tj2sym0v5s6x2" src="https://images.unsplash.com/photo-1564156280315-1d42b4651629?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyMHx8bW92aW5nJTIwZGF5fGVufDB8fHx8MTcyNTg5NTc3MHww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="moving day" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1564156280315-1d42b4651629?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyMHx8bW92aW5nJTIwZGF5fGVufDB8fHx8MTcyNTg5NTc3MHww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Conclusion</h2>Navigating the home buying process can be exciting, challenging, and complex, but with the right guidance and preparation, it becomes a rewarding journey. By understanding your needs, staying informed, and working with a dedicated real estate professional, you'll be well on your way to finding the perfect home that meets your unique goals and aspirations. If you're looking to purchase a home in Austin, Texas, my team and I would love to connect and hear your story. We have deep knowledge of the market, a solid understanding of current conditions, and the experience and processes in place to help you achieve your goal of becoming a homeowner.

Expert Tips for Navigating the Home Buying Process

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<figure id="figure-xa4vpojn3m0mm55y6" class=""><img id="xa4vpojn3m0mm55y6" src="https://images.unsplash.com/photo-1582268611958-ebfd161ef9cf?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHw0OXx8UmVhbCUyMEVzdGF0ZXxlbnwwfHx8fDE3MTEwNTMzMzZ8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="white and brown concrete building" title="white and brown concrete building" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://images.unsplash.com/photo-1582268611958-ebfd161ef9cf?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHw0OXx8UmVhbCUyMEVzdGF0ZXxlbnwwfHx8fDE3MTEwNTMzMzZ8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure> Mortgage rates have dropped significantly from nearly 8% last fall to around 6.4%—the lowest in over a year. This decline has unlocked purchasing power for buyers, sparking renewed interest in the market. As mortgage rates decrease, buyers could save significantly on monthly payments. Though this could also increase competition if rates continue to decline. For sellers, this dip in rates may make moving more feasible after being "locked in" by historically low mortgage rates. As John Coake, Vice President of Sales at Realty Austin Compass, notes, “It may take a few weeks for buyers to recognize the opportunity that a sub-6.5% rate presents, but we might see an increase in pending sales as the year progresses. As we move into fall, the combination of lower rates and increased inventory could make this an opportune time for both buyers and sellers to act.”Let's take a closer look at the latest trends from July and what they mean for you:Homes actively for sale rises – the number of homes on the market has risen by 20% compared to last year, giving buyers more options. Home prices decline — Median home prices showed no change from last month at $450K and showed a 2% decrease compared to last year. Time on the market increases — Homes are now on the market for an average of 63 days, up 4 days from last year, indicating a shift towards a more balanced, buyer-friendly market. Buyer demands slows— Pending sales decreased by 5% compared to last year and 8% from last month. Home sales decline — Home sales decreased by 3% compared to last year and by 2% from last month. Housing supply and inventory — Housing supply stands at 5.1 months, up 1.0 month compared to last year. Current market snapshot — Over 12,000 homes are for sale, selling for 94% of their original listing price.&nbsp;<figure id="figure-0e5zgr9ahmm0mmdsvb"><img id="0e5zgr9ahmm0mmdsvb" src="https://cdn.durable.co/blocks/1f2dwUv2WFYZLtUa98US8QOZXtxZNca4ggJOUqOAM315y5k4dmY3bAXQj95USpS2.png" alt="wicker table and two chairs near swimming pool" title="wicker table and two chairs near swimming pool" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 1/1; object-position: center center;" data-corners="default" data-aspect="1:1" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/1f2dwUv2WFYZLtUa98US8QOZXtxZNca4ggJOUqOAM315y5k4dmY3bAXQj95USpS2.png" data-mce-style="aspect-ratio: 1/1; object-position: center center;"></figure> Will Buyers Be Motivated by Current Mortgage Rates?&nbsp;Mortgage rates have recently dipped to their lowest point of 2024, settling around 6.47% for a 30-year fixed rate. This decline is significant considering rates have been higher for most of the year, even surpassing levels seen in 2023 and the past decade. The drop in mortgage rates offers significant savings on monthly payments, but it may also increase competition among buyers if rates continue to decline. Will Inventory Keep Growing?&nbsp;Housing inventory has grown by 37% compared to last year, offering buyers more options. However, homes are staying on the market longer, with the average time now at 63 days. This shift indicates a move toward a more balanced market. “While inventory has grown significantly, the pace of growth is slowing, and we may see inventory levels stabilize as we approach the end of the year,” says Jennifer Korba, Agent Success Manager at Realty Austin Compass. “This stabilization means both buyers and sellers need to stay agile and responsive to market shifts.”<figure id="figure-ea127frh0bm0mmeglw"><img id="ea127frh0bm0mmeglw" src="https://cdn.durable.co/blocks/2sZLQbckWNR0HbZ4oNacPBAXRwBi1N86GDnSjeDM7U3suS9eMR4kdYlDosSf63KA.png" alt="brown wooden table and chairs" title="brown wooden table and chairs" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 1/1; object-position: center center;" data-corners="default" data-aspect="1:1" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/2sZLQbckWNR0HbZ4oNacPBAXRwBi1N86GDnSjeDM7U3suS9eMR4kdYlDosSf63KA.png" data-mce-style="aspect-ratio: 1/1; object-position: center center;"></figure>Are There Signs of Prices Falling?&nbsp;Over the past two years, home prices in Austin have remained relatively stable, with no significant appreciation since 2021-2022. “Typically, prices are lowest around the New Year, peak in mid-year, and then decline. We’re likely to see home price gains of 0-3% for 2024, following a similar pattern to 2019,” explains Amanda Dudley, Agent Success Manager at Realty Austin Compass. “Sellers should be mindful of pricing, especially as pending sales are expected to slow, potentially leading to more price reductions.” Signs of Improving Home AffordabilityOver the past couple of years, buying a home has been challenging, but there are signs that affordability is slowly improving. With mortgage rates trending down, home prices rising more slowly, and wages increasing, homeownership could become more attainable as the year progresses. This trend is especially noticeable outside Travis County, where buyers are seeking more affordable options, according to Unlock MLS’ July Central Texas Housing Report. “This movement underscores the importance of correctly pricing homes in today's market.&nbsp; The Fall Housing Market: 3 Reasons to MoveAs the market transitions into fall, there are three key opportunities to consider. First, the increased number of homes for sale provides buyers with a wider selection. Second, builders are motivated to sell, with many offering attractive incentives for buyers. Lastly, mortgage rates have eased, potentially lowering monthly payments and making homeownership more affordable. If you're ready to make a move, now could be an opportune time. Conclusion:With fluctuating mortgage rates, changing inventory levels, and shifting buyer demand, making informed decisions is essential in this dynamic environment. Therefore, staying informed about the Austin/Central Texas housing market is crucial whether you are looking to buy or sell. It is my role to understand my clients' unique situation to where I can educate, guide, and work towards a smooth transaction for each one of my clients. If you are thinking about purchasing or selling, I will love to learn your story and help you achieve your real estate goals.

July's 2024 Housing Report for Austin/Central Texas

<figure id="figure-he6rtfbo7m0b5ua91"><img id="he6rtfbo7m0b5ua91" src="https://images.unsplash.com/photo-1454165804606-c3d57bc86b40?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwzfHxSZWFsJTIwZXN0YXRlJTIwY29uc3VsdGluZ3xlbnwwfHx8fDE2ODYxNDc4NzZ8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="white sectional sofa and black table" title="white sectional sofa and black table" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://images.unsplash.com/photo-1454165804606-c3d57bc86b40?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwzfHxSZWFsJTIwZXN0YXRlJTIwY29uc3VsdGluZ3xlbnwwfHx8fDE2ODYxNDc4NzZ8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>A recent update in the real estate industry ensures that homebuyers like you are fully protected and informed throughout the homebuying journey. Agents will now ask you to sign a Buyer Representation Agreement before touring homes.&nbsp;This agreement is designed to provide personalized guidance, clear communication, and dedicated support from a trusted real estate professional, making your homebuying experience as smooth and secure as possible. Understanding the benefits of a Buyer Representation Agreement will help you feel confident and well-prepared as you take the next steps in finding your perfect home.Let's get started:What Is a Buyer Representation Agreement?A Buyer Representation Agreement outlines the formal working relationship between you and your real estate agent spanning over a specific period of time.It typically includes:Scope of Services: Outlines the services your agent provides, like property searches, viewings, and negotiations. Duration: Defines the period of time you’ll work together. Exclusivity: Often requires working solely with your agent during the duration of the contract. Broker Compensation: Determines the broker's fee charged for services and how it will be paid. Duties and Responsibilities: Lists your agent’s and your own responsibilities. Transparency: Enhances your understanding of all fees and terms upfront. &nbsp;Why Sign a Buyer Representation Agreement?In the state of Texas, the Real Estate Agent will initially represent the seller of each property. <a href="https://www.trec.texas.gov/forms/information-about-brokerage-services" data-mce-href="https://www.trec.texas.gov/forms/information-about-brokerage-services">Information About Brokerage Services</a> describes the type of Real Estate License Holders (Broker and Sales Agent) and the minimum duties each is expected to perform by law. In order to transfer the Real Estate Agent's role from the seller to the buyer, a Buyer Representation Agreement needs to be reviewed and signed. Once it is, the Real Estate Agent will be able to look out for the Buyer's best interests as well as provide:&nbsp;Clear Expectations: The agreement outlines your agent’s services, such as property searches, showing properties, writing offers, and handling contract and repair negotiations. All fees and terms are detailed upfront, so there are no surprises. Full Commitment: Ensures your agent is fully dedicated to your needs, offering personalized service that prioritizes your goals and provides expert guidance throughout the process. Enhanced Transparency: The agreement provides full transparency, keeping you informed about every step, service, and cost involved in your homebuying journey. Protection of Interests: It’s your assurance that your agent will uphold high ethical standards, protecting your rights and interests while giving you access to exclusive listings and resources. Clear Communication: With many moving parts in buying a home, this agreement ensures consistent and clear communication, so you’re always informed and supported.&nbsp;Conclusion:Starting your homebuying journey is a significant step, and having the right support can make all the difference. If you are considering purchasing a new home in Central Texas, my team and I would love to hear your story. Our goal is to understand what is prompting your decision to buy so we can get to know you better—your style, your vision for your next home, and what truly matters to you. With this insight, we can pinpoint the neighborhoods that align with your preferences, find the perfect properties, negotiate the best deals, and ultimately exceed your expectations.Partnering with an experienced real estate professional ensures you receive personalized guidance tailored to your unique needs. This allows you to navigate the real estate market with clarity and confidence, making informed decisions at every turn. If this is you, lets connect so we can help make your next move a seamless and successful one.

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