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January 20, 2010 - According to the Multiple Listing Service report by the Austin Board of REALTORS®, the volume of Austin area home sales in December 2009 was 1,373, up five percent from the same month in 2008. The median price of real estate in the Austin area also showed an increase, up six percent from December 2008 to $194,000.
“We saw dramatic increases in sales volume in October and November 2009, which were presumably related to the original deadline for the first-time homebuyer tax credit,” explained John Horton, 2010 Chairman of the Austin Board of REALTORS®. “However, increases in sales volume beyond November and figures that have improved steadily throughout the year indicate that, while some demand was driven by the tax credit deadline, a sustainable recovery is also underway in the real estate market.”
Year-end real estate totals for 2009 showed improvement in sales volume and stability in home prices over the course of the year. In 2009, 19,005 homes were sold in the Austin area, a six percent decrease from 2008. The median price for the region in 2009 was $188,480, down one percent from 2008. The six percent decline in year-end home sales for Central Texas marks a significant improvement when compared to the double-digit decreases in home sales seen in the first quarter of 2009.
Mr. Horton summarized, “We’re seeing encouraging news from many sources that 2010 will be an improvement over 2009, and I think this report is one more indicator the outlook is beginning to brighten. As always, however, I urge consumers to base their decisions about buying and selling real estate on their own situation and goals. Talk to your Austin REALTOR® for advice on whether 2010 should be your year to buy a home or move up.”
Lakeway Single Family Sold Price 2 Year Comparison
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Tips for selling in a slow market
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If your home has been on the market for a considerable period of time and has not had any offers, the market is telling you
it is OVERPRICED. Where inventory levels are high, buyers are only looking at the best priced homes.
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The True Cost of Being Overpriced: Calculate the monthly cost of mortgage interest, taxes, insurance, maintenance, HOA dues and any other expenses associated with your property. Every month your home doesn't sell you are reinvesting this amount. Even if you eventually get your price, what has it cost you? Also consider the extra stress and hassle of keeping your home "showing ready" for an extended period of time.
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There is some good news if you'll be reinvesting in the same market, and buying a more expensive home. You'll come out ahead even if you have to discount the price of your property, by saving at least the same percentage and likely more on the home you'll be buying.
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SELLERS- Hire an Agent Who Makes Selling Your Home a Priority
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Helping you get the highest price for your home is my primary goal. Over the past 19 years I have helped hundreds of people sell a home. If you choose to work with me as your listing agent I will use all of that experience and knowledge to your benefit.
From preparing your home to sell, to negotiating a contract and closing, I will be looking out for you and advising you.
I only carry a few listings at a time, so finding a buyer for your home is a priority every day, and I won’t rest until it’s done!
In addition I will:
- Advertise your home prominently in local media as well as on more than 25 internet sites, where over 80% of buyers begin their home search.
- Help you set the highest price that will attract the greatest number of potential buyers .
- Advise you on what changes and improvements will be most cost-effective.
- Help you evaluate offers and negotiate strongly on your behalf.
- Manage your transaction from start to finish, coordinate with the other parties involved and communicate the progress to you.
- Whether or not you have already relocated I will take care of all the details so your house is the last thing you need to worry about.
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THE
BASICS
How to Sell A House
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Price
Be realistic. Your neighborhood determines the range. The condition, upgrades, view, location determine if your home will sell at the top, bottom or middle of the range.
Presentation
Clean, uncluttered, well maintained homes sell first. Depersonalized and staged to appeal to most buyers.
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Access
In our area electronic keybox access with little or no notice required is the norm. Anything less will greatly reduce the number of showings.
Let Go
You must mentally transition from “this is my home” to “this is a house I am selling”. It usually happens naturally as you pack up personal items and stage the home. I have personally witnessed the power of this step many times, as well as the delayed sales where one or both sellers were not ready to let go.
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