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<h2>Understanding Assumable Loans</h2><p>Assumable loans can be a smart option for some homebuyers. These loans allow a buyer to take over the seller's mortgage. This can be beneficial if the existing loan has a lower interest rate.</p><p>FHA and VA loans are often assumable. This means that a new buyer can step into the shoes of the original borrower. It can save money and simplify the buying process.</p><p>*Depending on the existing loan amount, the potential buyer may/will need to produce the difference. As an example:</p><p>Property Price is $500,000</p><p>Assumable loan amount is $215,000</p><p>Potential Buyer will need to produce the difference, in this case $285,000. In most instances, this can be secured in a secondary loan.</p><p>If you have any questions, please let me know, and we will be happy to assist.</p><figure id="figure-xtnr48ovslzh2l4zg"><img id="xtnr48ovslzh2l4zg" src="https://images.unsplash.com/photo-1625225233840-695456021cde?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxfHxsb2FuJTIwZG9jdW1lbnRzfGVufDB8fHx8MTcyMjg2NzA5M3ww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="loan documents" 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-1625225233840-695456021cde?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxfHxsb2FuJTIwZG9jdW1lbnRzfGVufDB8fHx8MTcyMjg2NzA5M3ww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><p>Loans are insured by the Federal Housing Administration. They are popular for first-time homebuyers. These loans require a lower down payment and have more flexible credit requirements.</p><p>The main advantage of an FHA loan is the low down payment. Buyers can put down as little as 3.5%. This makes it easier for people to buy a home.</p><figure id="figure-dt3nvgpj6lzh2l6bi"><img id="dt3nvgpj6lzh2l6bi" src="https://images.unsplash.com/photo-1522444195799-478538b28823?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxMHx8Zmlyc3QlMjBob21lfGVufDB8fHx8MTcyMjg2NzA5NXww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="first home" 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-1522444195799-478538b28823?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxMHx8Zmlyc3QlMjBob21lfGVufDB8fHx8MTcyMjg2NzA5NXww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><p>VA loans are backed by the Department of Veterans Affairs. They are available to military service members, veterans, and their families. These loans offer several benefits, including no down payment and no private mortgage insurance.</p><p>VA loans can make homeownership more affordable for those who have served. They also often have lower interest rates compared to conventional loans.</p><h3>How to Assume an FHA or VA Loan</h3><p>The process to assume an FHA or VA loan involves several steps. First, the buyer must qualify for the loan. This means meeting the lender's credit and income requirements.</p><p>Next, the lender must approve the assumption. This involves reviewing the buyer's financial information. If approved, the buyer takes over the existing loan terms.</p><figure id="figure-n4rb8eqn5rlzh2l92i"><img id="n4rb8eqn5rlzh2l92i" src="https://images.unsplash.com/photo-1603039078583-13468e835b01?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHw3fHxsb2FuJTIwYXBwcm92YWx8ZW58MHx8fHwxNzIyODE0NTc4fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="loan 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-1603039078583-13468e835b01?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHw3fHxsb2FuJTIwYXBwcm92YWx8ZW58MHx8fHwxNzIyODE0NTc4fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h3>One of the biggest benefits of assumable loans is the potential for a lower interest rate. If the seller's loan has a lower rate than current market rates, the buyer can save money.</h3><p>Another benefit is the potential for lower closing costs. Since the buyer is taking over an existing loan, some fees may be reduced or eliminated.</p><h3>Considerations</h3><p>While assumable loans have benefits, there are also considerations. The buyer must qualify for the loan. This can be a challenge if the buyer's financial situation is not strong.</p><p>Additionally, the buyer may need to pay a fee to assume the loan. This fee varies by lender and loan type. It's important to understand all costs involved.</p><figure id="figure-qw3y2icad4lzh2lbu0"><img id="qw3y2icad4lzh2lbu0" src="https://images.unsplash.com/photo-1522444195799-478538b28823?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxMnx8aG9tZSUyMHB1cmNoYXNlfGVufDB8fHx8MTcyMjg2NzEwMnww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="home purchase" 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-1522444195799-478538b28823?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxMnx8aG9tZSUyMHB1cmNoYXNlfGVufDB8fHx8MTcyMjg2NzEwMnww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h3>lower interest rates and reduced closing costs. However, it's important to understand the process and requirements.</h3><p>Working with a knowledgeable real estate consultant can help. We can guide you through the process and ensure you make an informed decision. Should you be interested in more information, and/or clarification, please let me know. We are always happy to help.</p>

Understanding Assumable FHA and VA Loans: A Guide to Getting Started

<p>In the first half of 2024, the Austin-Round Rock-San Marcos housing market has seen a 1.8% decline in residential home sales compared to the first half of 2023, with the median price dropping slightly to $450K. However, new home listings have surged by 15%, and active listings have increased by 15%, providing buyers with more options. Despite a slight dip in the total dollar volume of homes sold, the market remains dynamic, with pending sales up by 1.6% more than the first half of 2023. These shifts highlight the importance of staying informed and adapting strategies for buyers and sellers in this evolving market.</p><p>Let's take a closer look at the latest trends from June and what they mean for you:</p><p><strong>Home prices decline</strong> — Median home prices decreased by 2% from last month and showed a 6% decrease compared to last year.<br><strong>Time on the market increases</strong> — Homes are now on the market for an average of 65 days, up 8 days from last month and 2 days from last year.<br><strong>Buyer demands slows</strong>— Pending sales decreased by 2% compared to last year and 5% from last month.<br><strong>Home sales decline</strong> — Home sales decreased by 13% compared to last year and by 7% from last month.<br><strong>Housing supply and inventory</strong> — Housing supply stands at 5.0 months, up from 3.7 months last year.<br></p><figure id="figure-1xncvhqk3plz73t7lv"><img id="1xncvhqk3plz73t7lv" src="https://cdn.durable.co/blocks/147HyzZvc6MP7GuEl8DGliXVWzgaQPBe4WGbGGYIkiqjJeabGA2lUJPcPPdqMA0g.png" alt="white and blue glass walled high rise building" title="white and blue glass walled high rise building" 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/147HyzZvc6MP7GuEl8DGliXVWzgaQPBe4WGbGGYIkiqjJeabGA2lUJPcPPdqMA0g.png" data-mce-style="aspect-ratio: 1/1; object-position: center center;"></figure><p>&nbsp;<strong>Forecasted Decline in Mortgage Rates Is Good News</strong></p><p>The <strong>30-year fixed-rate mortgage fell to its lowest level since mid-March,</strong> dropping 12 basis points from last week, now at 6.77% according to Freddie Mac as of July 18. Mortgage rates are headed in the right direction and the economy remains resilient, two positive incremental signs for the housing market.&nbsp;</p><p><strong>Why Time in the Market Matters More Than Timing It</strong></p><p>According to the Fannie Mae Home Price Expectations Survey, home prices will continue rising by 3-4% annually through at least 2028. This reinforces the importance of entering the market now to benefit from long-term appreciation.</p><p><strong>What to expect in Austin's Housing Market</strong></p><p>As we enter the second half of 2024, the Austin Real Estate Market is expected to see seasonal declines in activity and pricing. Buyers and Sellers should anticipate slower demand. Home prices should continue to decline as remaining inventory increase.</p><p>For those who are considering buying a property, now can be a favorable time to enter the market. With more inventory available, you have a better chance of finding a home that meets your needs without the intense competition seen in previous months. Mortgage rates, while higher than historic lows, remain relatively stable, providing a window of opportunity to lock in a reasonable rate before any potential future increases.&nbsp;</p><p>If you are contemplating selling your property, the market still offers advantageous conditions. While price appreciation has moderated, home values remain strong. Increased inventory means more competition, so pricing your home correctly and making any necessary improvements to enhance its appeal can help attract serious buyers.&nbsp;</p><p>If you are considering Buying or Selling in Austin/Central Texas, there can be benefits for both sides, the current market conditions present opportunities that, with the right approach and guidance, can lead to successful real estate transactions. Should you consider buying or selling, I'd love to learn your story to where we can understand your situation and create a roadmap that can lead to your success.</p><p><br></p>

Autsin/Central Texas Housing Market Report for June 2024

<h2>Why Consider Energy-Efficient Upgrades?</h2><p>Summer in Austin can be intense. High temperatures can lead to increased energy use as people try to keep their homes cool. Energy-efficient upgrades can help reduce energy bills and create a more comfortable living environment.</p><p>These upgrades not only save money but also contribute to a more sustainable lifestyle. By making a few changes, you can enjoy a cooler home while reducing your carbon footprint.</p><h2>Insulation and Sealing</h2><h3>Improve Insulation</h3><p>Proper insulation is key to maintaining a stable indoor temperature. It keeps the cool air in and the hot air out. Upgrading your insulation, especially in the attic, can make a significant difference.</p><h3>Seal Windows and Doors</h3><p>Air leaks around windows and doors can let warm air into your home. Use weatherstripping and caulk to seal these gaps. This simple step can improve your home's energy efficiency.</p><h2>Upgrade Your Windows</h2><h3>Install Energy-Efficient Windows</h3><p>Energy-efficient windows can reduce the amount of heat entering your home. Look for windows with low-E coatings and double or triple glazing. These features help keep your home cooler during the summer.</p><figure id="figure-rczeof59z9lyx9k6o4"><img id="rczeof59z9lyx9k6o4" src="https://images.unsplash.com/photo-1474398777522-cabeb42e8132?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxNHx8ZW5lcmd5LWVmZmljaWVudCUyMHdpbmRvd3N8ZW58MHx8fHwxNzIxNjY5NDg4fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="energy-efficient windows" 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-1474398777522-cabeb42e8132?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxNHx8ZW5lcmd5LWVmZmljaWVudCUyMHdpbmRvd3N8ZW58MHx8fHwxNzIxNjY5NDg4fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h3>Use Window Treatments</h3><p>Blinds, shades, and reduce the need for air conditioning.</p><h2>Optimize Your HVAC System</h2><h3>Regular Maintenance</h3><p>Regular maintenance of your HVAC system can improve its efficiency. Change the filters regularly and have a professional inspect the system at least once a year. This helps ensure it runs smoothly and efficiently.</p><h3>Install a Programmable Thermostat</h3><p>A programmable thermostat allows you to set different temperatures for different times of the day. This can help reduce energy use when you are not at home, saving you money on your energy bills.</p><figure id="figure-k082v72flrlyx9k93m"><img id="k082v72flrlyx9k93m" src="https://images.unsplash.com/photo-1484417894907-623942c8ee29?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNnx8cHJvZ3JhbW1hYmxlJTIwdGhlcm1vc3RhdHxlbnwwfHx8fDE3MjE2Njk0OTF8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="programmable thermostat" 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-1484417894907-623942c8ee29?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNnx8cHJvZ3JhbW1hYmxlJTIwdGhlcm1vc3RhdHxlbnwwfHx8fDE3MjE2Njk0OTF8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Consider Renewable Energy</h2><h3>Solar Panels</h3><p>Solar panels can provide a renewable source of energy for your home. While the initial investment can be high, the long-term savings on energy bills can be substantial. Plus, you may qualify for tax incentives and rebates.</p><h3>Solar Water Heaters</h3><p>Solar water heaters use the sun's energy to heat your water. This can be an efficient way to reduce energy use, especially during the summer months when sunlight is abundant.</p><h2>Conclusion</h2><p>Making energy-efficient upgrades to your home can help you stay cool during the summer while saving money on energy bills. From improving insulation to considering renewable energy options, there are many ways to enhance your home's efficiency. Start with small changes and see the difference they can make.</p>

Energy-Efficient Home Upgrades for a Cooler Summer

woman sitting on poolside setting both of her feet on pool

<h2>Understanding the Importance of Slab Foundation Maintenance</h2><p>Summer can be tough on your home's slab foundation (especially here in Central Texas). The heat can cause the soil around your foundation to shift, which may lead to cracks and other issues. It's crucial to take steps to protect your foundation during these hotter months.</p><h3>Keep the Soil Moist</h3><p>Dry soil can shrink and pull away from your foundation, causing it to settle unevenly. To prevent this, keep the soil around your foundation moist. Use a soaker hose to water the soil evenly. Avoid overwatering, as too much water can also cause problems.</p><figure id="figure-re5gg0olrclyerx02d"><img id="re5gg0olrclyerx02d" src="https://images.unsplash.com/photo-1600009987300-411dc2b2b0c0?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNHx8d2F0ZXJpbmclMjBzb2lsfGVufDB8fHx8MTcyMDU1MTQ2MXww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="watering soil" 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-1600009987300-411dc2b2b0c0?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNHx8d2F0ZXJpbmclMjBzb2lsfGVufDB8fHx8MTcyMDU1MTQ2MXww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h3>Inspect. If you find any, seal them with a concrete patch or caulk. For larger cracks, consider consulting a professional.</h3><h3>Maintain Proper Drainage</h3><p>Water pooling around your foundation can lead to erosion and other issues. Ensure your gutters and downspouts direct water away from your foundation. You may also need to regrade the soil around your home to improve drainage.</p><figure id="figure-ctdwi9aokblyerx258"><img id="ctdwi9aokblyerx258" src="https://images.unsplash.com/photo-1670645948617-f06d0d4a92d0?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNnx8ZHJhaW5hZ2UlMjBzeXN0ZW18ZW58MHx8fHwxNzIwNTUxNDY0fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="drainage system" 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-1670645948617-f06d0d4a92d0?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNnx8ZHJhaW5hZ2UlMjBzeXN0ZW18ZW58MHx8fHwxNzIwNTUxNDY0fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h3>Control the Vegetation</h3><p>Trees and shrubs can affect your foundation. Their roots can grow under your foundation, causing it to shift. Keep large plants at least five feet away from your home. Trim back any overgrown vegetation to maintain a clear area around your foundation.</p><h3>Use a Foundation Watering System</h3><p>A foundation watering system can help maintain consistent moisture levels in the soil. These systems are designed to deliver water evenly around your foundation, preventing the soil from drying out or becoming too wet.</p><h3>Monitor Indoor Humidity</h3><p>High indoor humidity can affect your foundation. Use a dehumidifier to keep humidity levels in check. This can help prevent moisture buildup, which can lead to mold and other issues.</p><h3>Consult a Professional</h3><p>If you're unsure about how to protect your foundation, consult a professional. They can provide expert advice and recommend solutions tailored to your specific situation. Regular inspections by a professional can also help identify potential problems before they become serious.</p><p>By taking these steps, you can help ensure your slab foundation remains in good condition throughout the summer. Regular maintenance and attention to detail can prevent costly repairs and keep your home stable and secure.</p>

How to Protect Your Slab Foundation During Summer

<figure id="figure-abueuxdhjklxyrzsuu" class=""><img id="abueuxdhjklxyrzsuu" src="https://cdn.durable.co/blocks/30ZzrNFSXoc8LKw9qdn7fM8qgwiXjbX2wYEfrHqXA5TpYIWvS2rcynI2NXfAZomH.png" alt="several cranes above the buildings" title="several cranes above the buildings" 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/30ZzrNFSXoc8LKw9qdn7fM8qgwiXjbX2wYEfrHqXA5TpYIWvS2rcynI2NXfAZomH.png" data-mce-style="aspect-ratio: 1/1; object-position: center center;"></figure><p>In May, the Austin-Round Rock-Georgetown area saw its highest housing inventory in 13 years, offering buyers more options and the ability to be more selective. However, higher mortgage rates have balanced the market, impacting buyers' purchasing power. Sellers are navigating a complex market where strategic pricing and understanding buyer behavior are more crucial than ever as home prices remain flat and housing inventory rises.</p><p>Let's take a closer look at the latest trends and what they mean for you:</p><p><strong>Home prices maintain</strong> — Median home prices decreased by 2% from last month and showed a less than 1% decrease compared to last year.<br>Time on the market decreases — Homes are now on the market for an average of 57 days, down 11 days from last month and eight days from last year.</p><p><strong>New listings surge</strong> — The number of new homes hitting the market increased by 2% from last month and 16% compared to last year, providing buyers with more options in today’s market.</p><p><strong>Slight shift in buyer demand</strong> — Pending sales decreased by 2% compared to last year and 6% from last month.</p><p><strong>Home sales up MoM</strong> — Home sales decreased by 12% compared to last year; however, closed sales increased by 9% from last month.</p><p><strong>Housing supply and inventory</strong> — Housing supply stands at 4.9 months, up from 3.4 months last year.</p><p><strong>Current market snapshot</strong> — Over 12,000 homes are for sale, selling for 95% of their original listing price.&nbsp;</p><p><br></p><p><img id="hes1rujcclxys3u1q" src="https://cdn.durable.co/blocks/37emhipgxpInHUBABjA3xFpUVqG2fWblBbYPjLSn8LTJAmizfc3hTpe3VFQLfGRh.png" alt="two throw pillows in couch" title="two throw pillows in couch" 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/37emhipgxpInHUBABjA3xFpUVqG2fWblBbYPjLSn8LTJAmizfc3hTpe3VFQLfGRh.png" data-mce-style="aspect-ratio: 1/1; object-position: center center;"></p><p><br></p><p><strong>Austin's Record-High Housing Invento</strong><strong>ry and Its Impact on the Market</strong></p><p>The Austin housing market has reached a 13-year peak, with inventory levels climbing to 4.9 months, up from 3.4 months just last year. This surge in available homes signifies a shift towards a buyer's market, giving potential buyers a wider selection and more negotiating power. On the other hand, sellers may need to adjust their strategies to stand out in a more competitive landscape.&nbsp;</p><p><strong>Mortgage Rates Cool Down</strong></p><p>As of June 24th, mortgage rates for a 30-year fixed home loan are 7.02%, down from 7.05% the previous month. The Federal Reserve made efforts to maintain stability, and mortgage rates are slowly decreasing. Fannie Mae predicts a gradual market improvement in the year ahead, with mortgage rates averaging 6.7% at the end of 2024. Despite this slight decrease, the market remains largely unchanged as we transition from spring to summer, with home prices and housing stock levels holding steady.&nbsp;</p><p><strong>Home Prices and Market Stability</strong></p><p>In May, the Austin housing market saw a slight decrease in median sales prices, reflecting less than a 1% drop year over year. This minor change suggests a stabilizing market, where pricing strategy becomes crucial for sellers aiming for an effective sale.</p><p><strong>Why Your Home's Asking Price Matters</strong></p><p>Your home's asking price can significantly impact your bottom line and how quickly it sells. Setting the price too high may deter potential buyers while pricing it too low can result in a potential profit loss. Therefore, it is important that my team and I are able to work with our sellers to establish a competitive price that will attract potential buyers while maximizing a high return.</p><p><strong>If You’re Buying This Summer</strong></p><p>Late spring and summer are popular times for buying homes. These seasons usually see more buyers, increasing competition, and more sellers listing their homes. Working with us is critical during this busy time. We will help you stay updated on new listings, make strong offers, and understand the true value of homes.</p><p><strong>If You’re Selling This Summer</strong></p><p>This season presents opportunities because many buyers are eager to move before the new school year starts. With higher inventory levels, being an experienced agent, I can help guide you through effective marketing and pricing strategies to achieve your goals. We can help navigate offer contingencies and negotiations, ensuring your home is well-presented and priced correctly for faster sales and higher offers.</p><p><strong>Conclusion</strong><br data-mce-bogus="1"></p><p>Having a dedicated Real Estate Agent is crucial. There are numerous complexities that can and will happen during buying or selling property. That is why we understand the market to where we can be proactive, and work to avoid any complications. Therefore, if you are thinking about purchasing or selling, we will love to learn your story. We are here to serve, provide accurate information to help you get the most out of your investment.&nbsp;</p>

May 2024 Housing Report for Austin, Texas

clear fishbowl beside pine cones on brown wooden table

<h2>Understanding Your Financial Situation</h2><p>Deciding whether to rent or buy a home is a significant choice. Your financial situation plays a crucial role in this decision. Consider your savings, income stability, and credit score. Owning a home requires a down payment, closing costs, and ongoing maintenance expenses. Renting, on the other hand, involves a security deposit and monthly rent.</p><p>If you have substantial savings and a stable income, buying might be a good option. However, if your financial situation is uncertain, renting could be the safer choice.</p><figure id="figure-rg4buev5knlwz5mf6v"><img id="rg4buev5knlwz5mf6v" src="https://cdn.durable.co/shutterstock/fbfRMlUEwm9ZSrCCC5AJ9UiNlLvR3WfDtcwj1pR4mUqlyHGjN3bfToNaX2b9L6Ij.jpeg" alt="home decorations in the interior of a letter with an inscription home on a wooden background in the interior of the bedroom" title="home decorations in the interior of a letter with an inscription home on a wooden background in the interior of the bedroom" 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="null" data-positiony="null" data-fullwidth="false" data-mce-src="https://cdn.durable.co/shutterstock/fbfRMlUEwm9ZSrCCC5AJ9UiNlLvR3WfDtcwj1pR4mUqlyHGjN3bfToNaX2b9L6Ij.jpeg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><p>&gt;</p><p>Think about your long-term and short-term plans. If you plan to stay in one place for a long time, buying a home can be a good investment. You build equity over time, and the value of your home may increase.</p><p>But if you expect to move within a few years, renting might be better. Selling a home can take time and involves extra costs. Renting offers more flexibility if you need to relocate frequently.</p><h2>Market Conditions</h2><p>The real estate market also influences your decision. In some areas, buying a home can be more affordable than renting. In others, high property prices might make renting the better choice.</p><figure id="figure-oyc4x9mjlwz5mjwu"><img id="oyc4x9mjlwz5mjwu" src="https://images.unsplash.com/photo-1560185127-6ed189bf02f4?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxN3x8cmVhbCUyMGVzdGF0ZXxlbnwwfHx8fDE3MTczNzYzNjF8MA&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=M3wyNjI5NjF8MHwxfHNlYXJjaHwxN3x8cmVhbCUyMGVzdGF0ZXxlbnwwfHx8fDE3MTczNzYzNjF8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><p>Look at trends in home prices and rental rates. This information can help you make an informed decision.</p><p>Currently in Austin, Texas, the inventory of homes has reached an 8 - year high. That means there are more properties on the market to where it gives you more selection to find the right place. My team and I get to know our clients to where we can help identify specific properties that meet the needs of each client.&nbsp;</p><p>In addition, there are various ways to where we can negotiate better terms (pricing, incentives, and/or ways to maximize your return on investment). Rate Buy-Downs are becoming more popular to where it can help with reduced interest rates (normally for 2-3 years). Once the interest rates drop, it can be the perfect time to refinance. My team of Loan Originators and I can sit down with you, learn where you are financially, professionally, and personally to where we can see if this is the right time for you.</p><h2>Maintenance and Responsibilities</h2><p>Homeownership comes with responsibilities. As a homeowner, you handle maintenance and repairs. This can be time-consuming and costly. Renting, however, places these responsibilities on the landlord.</p><p>Consider how much time and effort you are willing to invest in maintaining a home. If you prefer less responsibility, renting might be the better option.</p><h2>Tax Benefits and Incentives</h2><p>Buying a home can offer tax benefits. Mortgage interest and property taxes are often tax-deductible. These deductions can make homeownership more affordable.</p><figure id="figure-38midhk3flwz5mn79"><img id="38midhk3flwz5mn79" src="https://images.unsplash.com/photo-1554224154-26032ffc0d07?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHw0fHx0YXglMjBiZW5lZml0c3xlbnwwfHx8fDE3MTc0MzAyNTJ8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="tax benefits" 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-1554224154-26032ffc0d07?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHw0fHx0YXglMjBiZW5lZml0c3xlbnwwfHx8fDE3MTc0MzAyNTJ8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Personal Preferences</h2><p>Your personal preferences also matter. Do you want the freedom to renovate and customize your living space? Homeownership provides this freedom. Renting often comes with restrictions.</p><p>Think about what is most important to you in a living situation. Your preferences can guide your decision between renting and buying.</p><h2>Conclusion</h2><p>Deciding whether to rent or buy a home depends on many factors, including your financial stability, professional trajectory, and personal goals. Buying offers a long-term investment potential and stability, while renting provides flexibility and lower upfront costs. As a dedicated REALTOR, I take the time to understand your unique Real Estate Goals and thoroughly asses your current situation. Together, we will create a strategic roadmap to help you determine the best path forward, ensuring your investment aligns with your aspirations and maximizes your benefits.</p><p>If you will like to discuss further, please contact me to schedule a complimentary consultation on my website: welcometotheatx.com.</p>

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