Austin Real Estate BlogRecently posted or modified blog postshttps://www.residentrealtyaustin.com/blog/Copyright ResidentRealtyAustin.com2024-03-04T06:10:29-07:00tag:residentrealtyaustin.com,2012-09-20:23952Texas Property Tax Law: Big Wins for Homeowners in 2024!Texas Property Tax Law: Big Wins for Homeowners in 2024!
Hold onto your wallets, Texas homeowners, because things are looking up on the property tax front! We partnered with <a href="https://gilldenson.com/" title="Gill, Denson & Company" target="_blank">Gill, Denson & Company</a> on this article to bring you the important updates. Here's a quick rundown of the recent law changes in 2023 that just might put some extra change in your pockets this year:
Homestead Exemption Increase<br />The standard $40,000 homestead exemption more than doubled to $100,000 with <a href="https://capitol.texas.gov/tlodocs/882/billtext/pdf/SB00002F.pdf" title="Senate Bill 2" target="_blank">Senate Bill 2</a> <a href="https://capitol.texas.gov/tlodocs/882/billtext/pdf/SB00002F.pdf" title="Senate Bill 2" target="_blank">(SB2)</a>. That's an average of savings of $681 in school tax (<a href="https://capitol.texas.gov/tlodocs/882/analysis/pdf/SB00002F.pdf" title="Bill analysis" target="_blank">Senate Research Center, Bill Analysis</a>). Homeowners aged 65 or older or disabled will have their capped tax payments reduced to reflect this change. They will now see future benefits automatically without the need to wait for separate constitutional amendments. In addition, local taxing units may not reduce or repeal an optional homestead exemption from 2022 until after the 2027 tax year.
<br />School Tax Slimdown<br />SB2 also gave school district maintenance and operation (M&O) rates a 10.7-cent reduction for the 2023-2024 school year. That means for every $100 your property is worth, you'll pay 10.7 cents less in school taxes.
<br />Appraisal Cap Pilot Program<br />Another key change from SB2 implements an appraisal cap pilot program designed to restrict appraised value increases of non-homestead real property valued at $5 million or less. This program keeps their taxable value increases capped at 20% year over year, putting a stop to skyrocketing assessments until 2026.
Other Key Property Tax Law Changes
Under SB2, counties with populations over 75,000 gain three new elected appraisal board members for greater accountability to property owners in their decisions.
<a href="https://capitol.texas.gov/tlodocs/88R/billtext/pdf/HB01228F.pdf" title="HB 1228" target="_blank">House Bill 1228 (HB1228)</a> ensures property owners can now access appraisal info electronically and file binding arbitration online for faster results without a fee.
<a href="https://capitol.texas.gov/tlodocs/88R/billtext/pdf/SB02355F.pdf" title="Senate Bill 2355" target="_blank">Senate Bill 2355 (SB2355)</a> shifts binding arbitration applications from appraisal districts to the Comptroller's office and enables electronic filing.
<a href="https://capitol.texas.gov/tlodocs/88R/billtext/pdf/HB02488F.pdf" title="House Bill 2488" target="_blank">House Bill 2488 (HB2488)</a> establishes a "clear and convincing evidence" burden of proof for appraisal review boards in certain property tax appeals filed under Chapter 42.
<a href="https://capitol.texas.gov/tlodocs/88R/billtext/pdf/HB00796F.pdf" title="House bill 796" target="_blank">House Bill 796 (HB796) </a>mandates chief appraisers to create a publicly accessible online protest hearing database by October 1 of each year that contains vital details for transparency in property tax protests.
<a href="https://capitol.texas.gov/tlodocs/88R/billtext/pdf/HB04101F.pdf" title="House Bill 4101" target="_blank">House Bill 4101 (HB4101)</a> authorizes property owners to use binding arbitration to ensure appraisal boards and chief appraisers follow their own procedures, creating a fairer process. Applicable to protests filed on or after January 1, 2024.
<a href="https://capitol.texas.gov/tlodocs/88R/billtext/pdf/HB01285F.pdf" title="House Bill 1285" target="_blank">House Bill 1285 (HB1285)</a> broadens taxpayer liaison officers' duties to handle more property owner complaints unrelated to property appraisals and to publicize appraisal board openings.
<a href="https://hro.house.texas.gov/pdf/ba88r/hb2121.pdf" title="House Bill 2121" target="_blank">House Bill 2121 (HB2121)</a> eliminates notarization requirements for business personal property renditions valued at $150,000 or less, applying to tax years as of January 1, 2024.
Should I Still Protest My Value?<br />Absolutely! While these recent changes to the property tax laws provide a benefit to your bottom line, protesting is still a valuable tool to lower your property taxes. Many property owners are overtaxed due to the mass appraisal methods districts use to value properties. We partnered with <a href="https://gilldenson.com/" title="Gill, Denson & Company" target="_blank">Gill, Denson & Company</a>, a firm that protests property values for property owners, to offer our clients and readers an exclusive discount to utilize their service. They saved money for 83% of their clients last year. Use our exclusive promo code RESIDENTREALTY for a discounted 25% contingency fee. You will only pay them if they actually reduce your property taxes. Redeem it by<a href="https://gilldenson.com/" title="Gill, Denson & Company" target="_blank"> visiting their website</a>, navigating to the ‘Get Started’ page and entering our promo code during the sign-up process.2024-03-01T13:20:00-07:002024-03-04T06:10:29-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:11552 Sellers: Don’t Wait Until Spring To Make Your Move<img width="750" height="410" src="https://files.mykcm.com/2022/01/13152346/20220118-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Sellers: Don’t Wait Until Spring To Make Your Move | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/13152346/20220118-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/13152346/20220118-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/13152346/20220118-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" style="font-size: 17px;" />
As you plan out your goals for the <a href="https://www.simplifyingthemarket.com/2021/12/17/2022-housing-market-forecast-infographic/?a=114843-db09abeecd93cda80e271cc281d96da6" title="year">year</a>, moving up to your dream home may top the list. But, how do you know when to make your move? You want to time it just right so you can get the most out of the sale of your current house. You also want to know you’re making a good investment when you buy your new home. What you may not realize is, that opportunity to get the best of both worlds is already here.
You don’t want to wait until spring to spring into action. The current market conditions make <a href="https://www.simplifyingthemarket.com/2021/12/13/if-you-think-the-housing-market-will-slow-this-winter-think-again/?a=114843-db09abeecd93cda80e271cc281d96da6" title="this winter">this winter</a> an ideal time to move. Here’s why.
1. The Number of Homes on the Market Is Still Low
Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market than there are homes available, and that means buyers are eagerly waiting for your house. Listing your house now makes it the center of attention. As a seller, that means when it’s priced correctly, you can expect it to sell quickly and get multiple <a href="https://www.simplifyingthemarket.com/2021/11/16/sellers-youll-likely-get-multiple-strong-offers-this-season/?a=114843-db09abeecd93cda80e271cc281d96da6" title="strong offers">strong offers</a> this season. Just remember, experts project <a href="https://www.simplifyingthemarket.com/2021/11/18/home-sales-about-to-surge-we-may-see-a-winter-like-never-before/?a=114843-db09abeecd93cda80e271cc281d96da6" title="more inventory">more inventory</a> will come to market as we move through the winter months. The realtor.com <a href="https://www.realtor.com/research/2022-national-housing-forecast/" title="2022 forecast" target="_blank" rel="noopener noreferrer">2022 forecast</a> says this:
“After years of declining, the inventory of homes for sale is finally expected to rebound from all-time lows.”
Selling now may help you maximize the return on your investment before your house has to face more competition from other sellers.
2. Your Equity Is Growing in Record Amounts
Current homeowners are sitting on record amounts of <a href="https://www.simplifyingthemarket.com/2021/12/21/the-average-homeowner-gained-56700-in-equity-over-the-past-year/?a=114843-db09abeecd93cda80e271cc281d96da6" title="equity">equity</a> thanks to today’s home price appreciation. According to the <a href="https://www.corelogic.com/intelligence/homeowner-equity-insights/" title="latest report" target="_blank" rel="noopener noreferrer">latest report</a> from CoreLogic, the average homeowner gained $56,700 in equity over the past 12 months.
That much equity can open doors for you to make a move. If you’ve been holding off on selling because you’re worried about how rising prices will impact your own <a href="https://www.simplifyingthemarket.com/2021/12/08/struggling-to-find-a-home-to-buy-new-construction-may-be-an-option/?a=114843-db09abeecd93cda80e271cc281d96da6" title="home search">home search</a>, rest assured your equity can help fuel your next move. It may be just what you need to cover a large portion – if not all – of the <a href="https://www.simplifyingthemarket.com/2021/12/22/the-perks-of-putting-20-down-on-a-home/?a=114843-db09abeecd93cda80e271cc281d96da6" title="down payment">down payment</a> on your next purchase.
3. While Rising, Mortgage Rates Are Still Historically Low
In January of last year, mortgage <a href="http://www.freddiemac.com/pmms/" title="rates" target="_blank" rel="noopener noreferrer">rates</a> hit the lowest point ever recorded. Today, rates are starting to rise, but that doesn’t mean you’ve missed out on locking in a low rate. Current mortgage rates are still far below what they’ve been in <a href="https://www.simplifyingthemarket.com/2021/11/08/two-graphs-that-show-why-you-shouldnt-be-upset-about-3-mortgage-rates/?a=114843-db09abeecd93cda80e271cc281d96da6" title="recent decades">recent decades</a>:
In the 2000s, the average mortgage rate was 6.27%
In the 1990s, the average rate was 8.12%
Even with mortgage rates rising above 3%, they’re still worth taking advantage of. You just want to do so sooner rather than later. Experts are projecting rates will continue to rise throughout this year, and when they do, it’ll <a href="https://www.simplifyingthemarket.com/2021/11/24/how-smart-buyers-are-approaching-rising-mortgage-rates/?a=114843-db09abeecd93cda80e271cc281d96da6" title="cost you more">cost you more</a> to purchase your next home.
4. Home Prices Are Going To Keep Rising with Time
According to industry leaders, <a href="https://www.simplifyingthemarket.com/2021/12/15/what-everyone-wants-to-know-will-home-prices-decline-in-2022/?a=114843-db09abeecd93cda80e271cc281d96da6" title="home prices">home prices</a> will also continue appreciating this year. While experts are forecasting more moderate home price growth than last year, it’s important to note prices will still be moving in an upward direction throughout 2022.
What does that mean for you? If you’re selling so you can move into a bigger home or downsize to the home of your dreams, you want to consider moving now before rates and prices rise further. If you’re ready, you have an opportunity to get ahead of the curve by purchasing your next home before rates and prices climb higher.
Bottom Line
If you’re considering selling to move up or downsize, this may be your moment, especially with today’s low mortgage rates and limited inventory. Let’s connect today to get set up for homebuying success this year.
2022-01-18T08:28:00-07:002024-03-03T13:20:15-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:11515Why Inflation Shouldn’t Stop You from Buying a Home in 2022Why Inflation Shouldn’t Stop You from Buying a Home in 2022
<img width="750" height="410" src="https://files.mykcm.com/2022/01/10133211/20220111-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Why Inflation Shouldn’t Stop You from Buying a Home in 2022 | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/10133211/20220111-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/10133211/20220111-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/10133211/20220111-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about <a href="https://www.simplifyingthemarket.com/2021/12/20/homebuyers-be-ready-to-act-this-winter/?a=114843-db09abeecd93cda80e271cc281d96da6" title="purchasing a home">purchasing a home</a> this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia <a href="https://www.investopedia.com/terms/i/inflation.asp" title="explains" target="_blank" rel="noopener noreferrer">explains</a> that during a period of high inflation, prices rise across the board. And while home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home in 2022.
Homeownership Offers Stability and Security
<a href="https://www.simplifyingthemarket.com/2021/10/19/what-does-the-future-hold-for-home-prices/?a=114843-db09abeecd93cda80e271cc281d96da6" title="Home prices">Home prices</a> have been increasing for quite some time, and <a href="https://www.simplifyingthemarket.com/2021/12/15/what-everyone-wants-to-know-will-home-prices-decline-in-2022/?a=114843-db09abeecd93cda80e271cc281d96da6" title="experts">experts</a> say they’re going to continue to climb throughout 2022. So, as a buyer, how can you protect yourself from rising costs for things like food, shelter, entertainment, and other goods and services? The answer lies in housing.
Buying a home allows you to lock in your monthly mortgage payment for the foreseeable future. That means as other prices rise, your monthly payment will be consistent thanks to your fixed-rate mortgage. This gives you the peace of mind that the bulk of your housing costs is shielded from inflation.
James Royal, Senior Wealth Management Reporter at Bankrate, <a href="https://www.bankrate.com/investing/inflation-hedges-to-protect-against-rising-prices/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”
If you <a href="https://www.simplifyingthemarket.com/2022/01/04/avoid-the-rental-trap-in-2022/?a=114843-db09abeecd93cda80e271cc281d96da6" title="rent">rent</a>, you don’t have that same benefit and you won’t be protected from rising housing costs. As an added incentive to buy, consider that today’s mortgage interest <a href="https://www.simplifyingthemarket.com/2021/11/08/two-graphs-that-show-why-you-shouldnt-be-upset-about-3-mortgage-rates/?a=114843-db09abeecd93cda80e271cc281d96da6" title="rates">rates</a> are lower than they have been in decades. While inflation decreases what your dollars can buy, low mortgage rates help counteract it by boosting your purchasing power so you can get more home for your money. They also help keep your monthly payments down. This is especially important during an inflationary period because you’ll want to protect yourself from the impact of inflation as much as possible.
Ali Wolf, Chief Economist at Zonda, <a href="https://www.forbes.com/advisor/mortgages/homebuying-can-hedge-against-inflation/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“If you have cash and are expecting inflation, you want to think through where you can put your money so it does not lose value. Housing is commonly looked at as a good inflation hedge, especially with interest rates so low.”
Bottom Line
The best hedge against inflation is a fixed housing cost. That’s why you shouldn’t let it stop you from buying a home this year. Not sure where to start? Let’s connect so you have expert advice and help throughout every step of the homebuying process.
2022-01-11T08:24:00-07:002022-01-11T08:26:09-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:11508Real Estate Professionals Are Experts at Keeping You Safe When You Sell
<img width="750" height="410" src="https://files.mykcm.com/2022/01/07140913/20220110-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Real Estate Professionals Are Experts at Keeping You Safe When You Sell | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/07140913/20220110-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/07140913/20220110-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/07140913/20220110-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re on the fence about whether or not you want to sell your house this year, there’s good news. For nearly two years, real estate professionals have worked tirelessly to ensure the safety of <a href="https://www.simplifyingthemarket.com/2021/12/20/homebuyers-be-ready-to-act-this-winter/?a=114843-db09abeecd93cda80e271cc281d96da6" title="buyers">buyers</a> and <a href="https://www.simplifyingthemarket.com/2021/12/13/if-you-think-the-housing-market-will-slow-this-winter-think-again/?a=114843-db09abeecd93cda80e271cc281d96da6" title="sellers">sellers</a> during the pandemic.
Today, they’re seasoned experts, not just in the art of buying and selling homes, but also in how to keep you safe throughout the process. <a href="https://www.simplifyingthemarket.com/2021/12/30/why-selling-your-house-with-a-real-estate-professional-is-essential/?a=114843-db09abeecd93cda80e271cc281d96da6" title="Real estate professionals">Real estate professionals</a> have learned new technologies plus safety and sanitation measures. As new variants emerge, those lessons continue to be key ways agents add value.
Real Estate Advisors Stay Current on Guidance for In-Person Showings
Agents don’t leave your health up to chance. They follow guidance from the <a href="https://www.cdc.gov/coronavirus/2019-ncov/prevent-getting-sick/disinfecting-your-home.html" title="Centers for Disease Control" target="_blank" rel="noopener noreferrer">Centers for Disease Control</a> (CDC) and the <a href="https://www.nar.realtor/coronavirus/guide-for-realtors" title="National Association of Realtors" target="_blank" rel="noopener noreferrer">National Association of Realtors</a> (NAR) to ensure in-person showings are safe. NAR maintains industry-specific resources to ensure agents are informed on the latest recommendations and best practices.
Guidance from the CDC also equips real estate professionals with the know-how to employ sanitization and disinfectant measures during the health crisis, so they’re safe for you and your potential buyers.
Digital Tools Can Enhance Your Home Sale
In addition, agents are also well versed in using technology and digital tools to sell your home efficiently. In their guidance for realtors, NAR <a href="https://www.nar.realtor/coronavirus/guide-for-realtors" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“The COVID-19 pandemic is impacting members in unprecedented ways, and raises numerous unique and novel issues for the real estate industry.”
Real estate advisors have responded by reimagining the tech and tools they use. For instance, serving clients at a distance and limiting exposure to others is more important now than ever. That’s because restricting the number of people you need to interact with during the sales process is one of the best ways to keep everyone safe.
To accomplish this, agents now use a variety of <a href="https://cdn.nar.realtor/sites/default/files/documents/2021-technology-survey-08-03-2021.pdf" title="methods" target="_blank" rel="noopener noreferrer">methods</a> to serve their clients, including:
Virtual Open Houses, Tours, and Listing Appointments
High-Quality Photos for Websites and Social Media
eSignature
Video Conferencing
Bottom Line
The health challenges we face today have fundamentally changed the way real estate professionals conduct business for the better. Let’s connect today so you have the latest tools on your side to feel safe and confident when you sell your house this year.
2022-01-10T07:44:00-07:002022-01-10T07:46:30-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:11483There Won’t Be a Wave of Foreclosures in the Housing Market<img width="750" height="410" src="https://files.mykcm.com/2022/01/05102012/20220106-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="There Won’t Be a Wave of Foreclosures in the Housing Market | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/05102012/20220106-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/05102012/20220106-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/05102012/20220106-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" style="font-size: 17px;" />
When mortgage forbearance plans were first announced and the pandemic surged through the country in early 2020, many homeowners were allowed to pause their mortgage payments. Some analysts were concerned that once the forbearance program ended, the housing market would experience a wave of foreclosures like what happened after the housing bubble 15 years ago.
Here’s a look at why that isn’t the case.
1. There Are Fewer Homeowners in Trouble This Time
After the last housing crash, <a href="https://economics.cmail20.com/t/ViewEmail/d/6DD5AA0E9F6529292540EF23F30FEDED/5323CD85A2087AFD22947492D9797BBC" title="over nine million" target="_blank" rel="noopener noreferrer">over nine million</a> households lost their homes to a foreclosure, short sale, or because they gave it back to the bank. Many believed millions of homeowners would face the same fate again this time.
However, today’s data shows that most homeowners exited their forbearance plan either fully caught up on payments or with a plan from the bank that restructured their loan in a way that allowed them to start making payments again. The <a href="https://www.mba.org/2021-press-releases/december/mba-loan-monitoring-survey-share-of-mortgage-loans-in-forbearance-decreases-to-167-percent" title="latest data" target="_blank" rel="noopener noreferrer">latest data</a> from the Mortgage Bankers Association (MBA) studies how people exited the forbearance program from June 2020 to November 2021.
Here are those findings:
38.6% left the program paid in full
19.9% made their monthly payments during the forbearance period
11.8% made up all past-due payments
6.9% paid off the loan in full
44% negotiated work-out repayment plans
29.1% received a loan deferral
14.1% received a loan modification
0.8% arranged a different repayment plan
0.6% sold as a <a href="https://www.investopedia.com/terms/r/real-estate-short-sale.asp" title="short sale" target="_blank" rel="noopener noreferrer">short sale</a> or did a <a href="https://www.investopedia.com/terms/d/deed_in_lieu_of_foreclosure.asp" title="deed-in-lieu" target="_blank" rel="noopener noreferrer">deed-in-lieu</a>
16.8% left the program still in trouble and without a loss mitigation plan in place
2. Those Left in the Program Can Still Negotiate a Repayment Plan
As of last Friday, the total number of mortgages still in forbearance stood at <a href="https://www.blackknightinc.com/blog-posts/forbearance-plan-exits-slow-enter-year-end-plateau/" title="890,000" target="_blank" rel="noopener noreferrer">890,000</a>. Those who remain in forbearance still have the chance to work out a suitable plan with the servicing company that represents their lender. And the servicing companies are under pressure to do just that by both federal and state agencies.
Rick Sharga, Executive Vice President at RealtyTrac, says in a <a href="https://twitter.com/ricksharga/status/1474138451465289739" title="recent tweet" target="_blank" rel="noopener noreferrer">recent tweet</a>:
“The [Consumer Financial Protection Bureau] and state [Attorneys General] look like they're adopting a ‘zero tolerance’ approach to mortgage servicing enforcement. Likely that this will limit #foreclosure activity for a good part of 2022, while servicers explore all possible loss [mitigation] options.”
For more information, read the warning <a href="https://ag.ny.gov/press-release/2021/attorney-general-james-again-warns-mortgage-servicers-obligation-assist" title="issued" target="_blank" rel="noopener noreferrer">issued</a> by the Attorney General of New York State.
3. Most Homeowners Have More Than Enough Equity To Sell Their Homes
For those who can’t negotiate a solution and the 16.8% who left the forbearance program without a work-out, many will have enough <a href="https://www.simplifyingthemarket.com/2021/12/21/the-average-homeowner-gained-56700-in-equity-over-the-past-year/?a=114843-db09abeecd93cda80e271cc281d96da6" title="equity">equity</a> to sell their homes and leave the closing with cash instead of facing foreclosures.
Due to rapidly <a href="https://www.simplifyingthemarket.com/2021/12/15/what-everyone-wants-to-know-will-home-prices-decline-in-2022/?a=114843-db09abeecd93cda80e271cc281d96da6" title="rising home prices">rising home prices</a> over the last two years, the average homeowner has gained record amounts of equity in their home. As Frank Martell, President & CEO of CoreLogic, <a href="https://www.corelogic.com/intelligence/homeowner-equity-insights/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“Not only have equity gains helped homeowners more seamlessly transition out of forbearance and avoid a distressed sale, but they’ve also enabled many to continue building their wealth.”
4. There Have Been Far Fewer Foreclosures Over the Last Two Years
One of the seldom-reported benefits of the forbearance program was that it allowed households experiencing financial difficulties prior to the pandemic to enter the program. It gave those homeowners an extra two years to get their finances in order and work out a plan with their lender. That prevented over 400,000 foreclosures that normally would have come to the market had the new forbearance program not been available. Otherwise, the real estate market would have had to absorb those foreclosures. Here’s a graph depicting this data:
<a href="https://files.mykcm.com/2022/01/05102015/20220106-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-100501" src="https://files.mykcm.com/2022/01/05102015/20220106-MEM-Eng-1.png" alt="There Won’t Be a Wave of Foreclosures in the Housing Market | MyKCM" width="600" height="450" /></a>
5. The Current Market Can Easily Absorb Over a Million New Listings
When foreclosures hit the market in 2008, they added to the oversupply of houses that were already for sale. That resulted in over a nine-month supply of listings, and anything over a six-month supply can cause prices to depreciate.
It’s exactly the opposite today. The latest <a href="https://www.nar.realtor/newsroom/existing-home-sales-continue-upward-increasing-1-9-in-november" title="Existing Home Sales Report" target="_blank" rel="noopener noreferrer">Existing Home Sales Report</a> from the National Association of Realtors (NAR) reveals:
“Total housing inventory at the end of November amounted to 1.11 million units, down 9.8% from October and down 13.3% from one year ago (1.28 million). Unsold inventory sits at a 2.1-month supply at the current sales pace, a decline from both the prior month and from one year ago.”
A balanced market would have approximately a six-month supply of inventory. At 2.1 months, the market is severely understocked. Even if one million homes enter the market, there still won’t be enough inventory to meet the current demand.
Bottom Line
The end of the forbearance plan will not cause any upheaval in the housing market. Sharga <a href="https://www.attomdata.com/news/market-trends/foreclosures/attom-november-2021-u-s-foreclosure-market-report/" title="puts it best" target="_blank" rel="noopener noreferrer">puts it best</a>:
“The fact that foreclosure starts declined despite hundreds of thousands of borrowers exiting the CARES Act mortgage forbearance program over the last few months is very encouraging. It suggests that the ‘forbearance equals foreclosure’ narrative was incorrect. . . .”
2022-01-06T15:19:00-07:002022-01-06T15:29:56-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:11485 Why Waiting To Sell Your House Could Cost You a Small Fortune
<img width="750" height="410" src="https://files.mykcm.com/2022/01/04142940/20220105-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Why Waiting To Sell Your House Could Cost You a Small Fortune | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/04142940/20220105-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/04142940/20220105-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/04142940/20220105-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
Many homeowners who plan to sell in 2022 may think the wise thing to do is to wait for the spring buying market since historically about <a href="https://www.fortunebuilders.com/homebuyers-guide-to-the-busy-spring-selling-season/" title="40 percent" target="_blank" rel="noopener noreferrer">40 percent</a> of home sales occur between April and July. However, this year’s expected to be much different than the norm. Here are five reasons to list your house now rather than waiting until the spring.
1. Buyers Are Looking Right Now, and They’re Ready To Purchase
The ShowingTime Showing Index reports data from more than six million property showings scheduled across the country each month. In other words, it’s a gauge of how many buyers are out looking at homes at the current time.
The latest index, which covers <a href="https://www.showingtime.com/blog/november-2021-showing-index-results/" title="November showings" target="_blank" rel="noopener noreferrer">November showings</a>, reveals that buyers are still very active in the market. Comparing this November’s numbers to previous years, this graph shows that the index is higher than last year and much higher than the three years prior to the pandemic. Clearly, there’s an influx of buyers searching for your home.
<a href="https://files.mykcm.com/2022/01/04142943/20220105-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-100496" src="https://files.mykcm.com/2022/01/04142943/20220105-MEM-Eng-1.png" alt="Why Waiting To Sell Your House Could Cost You a Small Fortune | MyKCM" width="600" height="450" /></a>
Also, at this time of year, only those purchasers who are serious about buying a home will be in the market. You and your loved ones won’t be inconvenienced by casual searchers. Freddie Mac addresses this in a <a href="https://myhome.freddiemac.com/blog/homeownership/20170129-pros-cons-buying-home-in-winter" title="recent blog" target="_blank" rel="noopener noreferrer">recent blog</a>:
“The buyers who are willing to house hunt in a winter market, when there are fewer options, are typically more serious. Plus, year-end bonuses and overtime payouts give people more purchasing power.”
And that theory is proving to be true right now based on the number of buyers who have put a home under contract to purchase. The National Association of Realtors (NAR) publishes a monthly Pending Home Sales Index which measures housing contract activity. It’s based on signed real estate contracts for existing single-family homes, condos, and co-ops. The <a href="https://www.nar.realtor/newsroom/pending-home-sales-subside-2-2-in-november" title="latest index" target="_blank" rel="noopener noreferrer">latest index</a> shows:
“…housing demand continues to be high. . . . Homes placed on the market for sale go from ‘listed status’ to ‘under contract’ in approximately 18 days.”
Comparing the index to previous Novembers, while it’s slightly below November 2020 (when sales were pushed to later in the year because of the pandemic), it’s well above the previous three years.
<a href="https://files.mykcm.com/2022/01/04142946/20220105-MEM-Eng-2.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-100497" src="https://files.mykcm.com/2022/01/04142946/20220105-MEM-Eng-2.png" alt="Why Waiting To Sell Your House Could Cost You a Small Fortune | MyKCM" width="600" height="450" /></a>
The takeaway for you: There are purchasers in the market, and they’re ready and willing to buy.
2. Other Sellers Plan To List Earlier This Year
The law of supply and demand tells us that if you want the best price possible and to negotiate your ideal contract terms, put your house on the market when there’s strong demand and less competition.
A <a href="https://news.move.com/2021-11-11-Low-Temps,-High-Expectations-Realtor-com-R-Survey-Shows-65-of-Prospective-Sellers-Plan-to-Enter-the-Market-this-Winter" title="recent study" target="_blank" rel="noopener noreferrer">recent study</a> by realtor.com reveals that, unlike in previous years, sellers plan to list their homes this winter instead of waiting until spring or summer. The study shows that 65% of sellers who plan to sell in 2022 have either already listed their home (19%) or are planning to put it on the market this winter.
Again, if you’re looking for the best price and the ability to best negotiate the other terms of the sale of your house, listing before this competition hits the market makes sense.
3. Newly Constructed Homes Will Be Your Competition in the Spring
In 2020, there were over <a href="https://www.census.gov/construction/bps/" title="979,000" target="_blank" rel="noopener noreferrer">979,000</a> new single-family housing units authorized by building permits. Many of those homes have yet to be built because of labor shortages and supply chain bottlenecks brought on by the pandemic. They will, however, be completed in 2022. That will create additional competition when you sell your house. Beating these newly constructed homes to the market is something you should consider to ensure your house gets as much attention from interested buyers as possible.
4. There Will Never Be a Better Time To Move-Up
If you’re moving into a larger, more expensive home, consider doing it now. Prices are projected to appreciate by <a href="https://www.simplifyingthemarket.com/2021/12/15/what-everyone-wants-to-know-will-home-prices-decline-in-2022/?a=114843-db09abeecd93cda80e271cc281d96da6" title="approximately 5%">approximately 5%</a> over the next 12 months. That means it will cost you more (both in down payment and mortgage payment) if you wait. You can also lock in your 30-year housing expense with a mortgage rate in the <a href="http://www.freddiemac.com/pmms/" title="low 3’s" target="_blank" rel="noopener noreferrer">low 3’s</a> right now. If you’re thinking of selling in 2022, you may want to do it now instead of waiting, as mortgage rates are <a href="https://www.simplifyingthemarket.com/2021/11/03/experts-project-mortgage-rates-will-continue-to-rise-in-2022/?a=114843-db09abeecd93cda80e271cc281d96da6" title="forecast to rise">forecast to rise</a> throughout the year.
5. It May Be Time for You To Make a Change
Consider why you’re thinking of selling in the first place and determine whether it’s worth waiting. Is waiting more important than being closer to your loved ones now? Is waiting more important than your health? Is waiting more important than having the space you truly need?
Only you know the answers to those questions. Take time to think about your goals and priorities as we move into 2022 and consider what’s most important to act on now.
Bottom Line
If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s connect so you have expert advice on the best time to put your house on the market.
2022-01-03T15:56:00-07:002022-01-06T15:59:37-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6967#StayHome: How to Create Functional Spaces in Your Home During the Coronavirus Outbreak#StayHome: How to Create Functional Spaces in Your Home <br /> During the Coronavirus Outbreak
Since the outbreak of the novel coronavirus (COVID-19), many of us are spending a lot more time at home. We’re all being called upon to avoid public spaces and practice social distancing to help slow the spread of this infectious disease. While it can be understandably challenging, there are ways you can modify your home and your lifestyle to make the best of this difficult situation.
Here are a few tips for creating comfortable and functional spaces within your<img src="https://assets.site-static.com/userfiles/1602/image/covid-19-campaign---blog-post-resized.jpg" width="480" height="252" style="float: right;" /> home for work, school, and fitness. We also share some of our favorite ways to stay connected as a community, because we’re all in this together … and no one should face these trying times alone.
Begin with the Basics
A basic home emergency preparedness kit is a great addition to any home, even under normal circumstances. It should include items like water, non-perishable food, a flashlight, first aid kit, and other essentials you would need should you temporarily lose access to food, water, or electricity.
Fortunately, authorities don’t anticipate any serious interruptions to utilities or the food supply during this outbreak. However, it may be a good time to start gathering your emergency basics in a designated location, so you’ll be prepared now-—and in the future—should your family ever need them.
Ready to start building an emergency kit for your home? Contact us for a free copy of our Home Emergency Preparation Checklist!
Working From Home
Many employees are being asked to work remotely. If you’re transitioning to a home office for the first time, it’s important to create a designated space for work … so it doesn’t creep into your home life, and vice versa. If you live in a small condominium or apartment, this may feel impossible. But try to find a quiet corner where you can set up a desk and comfortable chair. The simple act of separating your home and work spaces can help you focus during work hours and “turn off” at the end of the day.
Of course, if you have children who are home with you all day (given many schools and daycares are now closed), separating your home and work life will be more difficult. Unless you have a partner who can serve as the primary caregiver, you will need to help manage the needs of your children while juggling work and virtual meetings.
If both parents are working from home, try alternating shifts, so you each have a designated time to work and to parent. If that’s not an option, experts recommend creating a schedule for your children, so they know when you’re available to play, and when you need to work.1 A red stop sign on the door can help remind them when you shouldn’t be disturbed. And for young children, blocking off a specific time each day for them to nap or have independent screen time can give you a window to schedule conference calls or work uninterrupted.
Homeschooling Your Children
Many parents with school-aged children will be taking on a new challenge: homeschooling. Similar to a home office, designating a space for learning activities can help your child transition between play and school. If you’re working from home, the homeschooling area would ideally be located near your workspace, so you can offer assistance and answer questions, as needed.
If possible, dedicate a desk or table where your child’s work can be spread out—and left out when they break for meals and snacks. Position supplies and materials nearby so they are independently accessible, and place a trash can and recycling bin within reach for easy cleanup. A washable, plastic tablecloth can help transition an academic space into an arts and crafts area.
If the weather is nice, try studying outside! A porch swing is a perfect spot for reading, and gardening in the backyard is a great addition to any science curriculum.
In addition to creating an academic learning environment, find age-appropriate opportunities for your children to help with household chores and meal preparation. Homeschooling advocates emphasize the importance of developing life skills alongside academic ones.2 And with more meals and activities taking place at home, there will be ample opportunity for every family member to pitch in and help.
<img src="https://assets.site-static.com/userfiles/1602/image/COVID-19_Campaign_-_Blog_Post_Image_B.jpg" width="2400" height="1260" />Staying Fit
With gyms closed and team sports canceled, it can be tempting to sit on the sofa and binge Netflix. However, maintaining the physical health and mental wellness of you and your family is crucial right now. Implementing a regular exercise routine at home can help with both.
If you live in a community where you can safely exercise outdoors while maintaining the recommended distance between you and other residents, try to get out as much as possible. If the weather is nice, go for family walks, jogs, or bike rides.
Can’t get outside? Fortunately, you don’t need a home gym or fancy exercise equipment to stay fit. Look for a suitable space in your home, garage, or basement where you can comfortably move—you’ll probably need at least a 6’ x 6’ area for each person. Many cardio and strength training exercises require little (or no) equipment, including jumping jacks, lunges, and pushups.
And if you prefer a guided workout, search for free exercise videos on YouTube—there are even options specifically geared towards kids—or try one of the many fitness apps available.
Socializing From a Distance
Even though we’re all being called upon to practice “social distancing” right now, there are still ways to stay safely connected to our communities and our extended families. Picking up the phone is a great place to start. Make an effort to reach out to neighbors and loved ones who live alone and maybe feeling particularly isolated right now.
And while parties and playdates may be prohibited, modern technology offers countless ways to organize networked gatherings with family and friends. Try using group video conferencing tools like <a href="https://gsuite.google.com/products/meet/">Google Hangouts</a> and <a href="https://www.zoom.us/">Zoom</a> to facilitate a virtual happy hour or book club. Host a <a href="https://www.netflixparty.com/">Netflix Party</a> to watch (and chat about) movies with friends. Or plan a virtual game night and challenge your pals to a round of <a href="https://www.warnerbros.com/games-and-apps/psych-outwit-your-friends/">Psych</a> or <a href="https://www.pogo.com/games/yahtzeeparty#game">Yahtzee</a>.
There are safe ways to connect offline, too. Rediscover the lost art of letter writing. Drop off groceries on an elderly neighbor’s porch. Or organize a neighborhood “chalk walk,” where children use sidewalk chalk to decorate their driveways and then head out for a stroll to view their friends’ artwork.
Of course, there’s one group of people who you can still socialize with freely—those who reside in your home. Family dinners are back, siblings are reconnecting, and many of us have been given the gift of time, with commutes, activities, and obligations eliminated. In fact, some families are finding that this crisis has brought them closer than ever.
YOU ARE NOT ALONE
Even with all of the tools and technology available to keep us connected, many of us are still feeling stressed, scared, and isolated. However, you can rest assured that you are not alone. We’re not only here to help you buy and sell real estate. We want to be a resource to our clients and community through good times and bad. If you and your family are in need of assistance, please reach out and let us know how we can help.
Sources:
CNBC -<br /> <a href="https://www.cnbc.com/2020/03/16/how-to-work-from-home-with-your-kids-during-the-coronavirus-outbreak.html">https://www.cnbc.com/2020/03/16/how-to-work-from-home-with-your-kids-during-the-coronavirus-outbreak.html</a>
TheHomeSchoolMom.com -<br /> <a href="https://www.thehomeschoolmom.com/benefits-of-homeschooling-2/">https://www.thehomeschoolmom.com/benefits-of-homeschooling-2/</a>
2020-03-26T08:02:00-07:002020-04-06T13:23:40-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:66302020 Outlook: Real Estate Market Forecast2020 Outlook: Real Estate Market Forecast
We’re in the midst of the longest economic expansion in U.S. history, and economists think there’s still room to grow. A recent survey by the National Association for Business Economics found that experts believe the U.S. economy will remain positive throughout 2020.1
Still, given that recessions are a natural (and necessary) part of a business <img src="https://assets.site-static.com/userfiles/1602/image/January_2020_-_MVP_-_Social_Media_Image_B.jpg" width="400" height="210" title="Real Estate Market Forecast" style="margin: 1px; float: right;" />cycle, we know this period of growth will inevitably end. So you may be wondering … how will an eventual recession impact the real estate market?
Many Americans assume a recession would lead to a decline in housing prices like we saw during the Great Recession of 2008. But the real estate market crash we experienced wasn’t typical. In fact, the last recession wasn’t typical at all. It was the worst economic downturn since the Great Depression of the 1930s.
ATTOM Data Solutions analyzed real estate prices during the last five recessions and found that, in the majority of cases, home prices actually went up. Only twice (in 1990 and 2008) did prices decline, and in 1990 it was by less than one percent.2
So what can historical precedent—combined with today’s data—tell us about the future of real estate? Here’s where experts predict the housing market is headed in 2020 and beyond.
HOME PRICES WILL KEEP RISING
Economists predict U.S. housing prices will continue to rise, regardless of a recession. In fact, property data firm CoreLogic forecasts a faster rate of growth for home prices in 2020 than we saw in 2019, with the biggest gains at the lower end of the market.3
Arch MI Chief Economist Ralph DeFranco expects entry-level home prices to increase faster than incomes this year, making it even more difficult for many first-time buyers to afford to enter the market.4
“Low interest rates and a shortage of starter homes will continue to push up prices,” predicts DeFranco. “This is especially the case for lower price points, since builders have tended to focus on more expensive, higher-profit houses and less on replenishing low inventories of entry-level homes.”4
“Real estate is on firm ground with little chance of price declines,” said National Association of Realtors Chief Economist Lawrence Yun. "However, in order for the market to be healthier, more supply is needed to assure home prices as well as rents do not consistently outgrow income gains.”5
What does it mean for you? If you have the ability and desire to buy a home now, don’t let a fear of recession or falling prices hold you in limbo. Economists expect home values, as well as rent prices, to continue rising. So you’ll likely pay more the longer you wait.
INVENTORY CONSTRAINTS WILL CONTINUE
According to Redfin, Americans are staying in their homes longer. In 2019, the average homeowner had resided in their home for 13 years, up from just eight years in 2010. That means there are fewer homes available today for those who want to buy.6
It’s possible that an increase in new construction could offer some relief. The National Association of Realtors (NAR) expects single-family housing starts to total one million this year, the highest level since 2007. And NAR Chief Economist Lawrence Yun predicts the average price of new construction will decline slightly as builders shift to building smaller, more affordable homes.7
However, these efforts may not be enough to meet current demand. “Despite improvements to new construction and short waves of sellers, next year will once again fail to bring a solution to the inventory shortage,” predicts Realtor.com Senior Economist George Ratiu. “In 2020, we expect inventory to struggle to grow and could instead reach a historic low level.”8
What does it mean for you? If you’re looking to buy a starter home, be prepared to compete for the best listings. Start your search early, and if you’re up against a deadline (like a new baby), build in plenty of time to find the right home. We can help you assess your options, including new construction and up-and-coming developments.
MORTGAGE RATES WILL REMAIN LOW
Mortgage rates have declined more than a full percentage point since November 2018, when they hit a recent peak of 4.94%.9 The Mortgage Bankers Association predicts rates will remain low, at around 3.7%, through mid-2021.10
While it may not seem significant, on a $200,000 30-year fixed-rate mortgage, that lower rate means buyers could save around $145 on their monthly payment and more than $52,000 over the life of their mortgage. Lower mortgage rates make homeownership more accessible and affordable for buyers.
Although economists expect mortgage rates to stay low, they caution against waiting to act. Economic factors, shifts in supply and demand, or unforeseen impacts of the November election could cause rates to rise unexpectedly. “We recommend borrowers with long-term plans of staying in their homes to lock in a low rate now because there’s no telling how long these low rates will last,” warns Preetam Purohit, a capital markets trader at Embrace Home Loans.11
What does it mean for you? If you’re looking to buy a home, act soon to lock in a historically low mortgage rate. It will minimize your monthly payment and could save you a bundle over the long term. And if you plan to stay in your current home for a while, consider whether it makes sense to refinance your mortgage at today’s lower rates.
MILLENNIALS WILL DRIVE THE MARKET
Millennials are expected to account for more than half of all mortgages this year, outnumbering Generation X and Baby Boomers combined. It’s not surprising, considering their age and stage of life. In 2020, the largest cohort of millennials will turn 30, and the oldest millennials will turn 39.8
"Family changes tend to drive home-buying decisions," explains Realtor.com Chief Economist Danielle Hale. "Millennials are going to be active in the housing market not just because they're just at the age when they're thinking about becoming first-time home buyers, but they're also in the age range when they're having kids."12
Younger millennials flocked to urban centers that offered easy access to work, shopping, and restaurants. But high prices, lack of square footage, and subpar schools are driving millennials out to the suburbs as they begin to marry and expand their families.
In response, a new model for suburban living has emerged. “Hipsturbias,” or mixed-use communities that bring the live/work/play concept to the suburbs, were recently named one of the top real estate trends for 2020 by the Urban Land Institute.4
What does it mean for you? If you’re a millennial who has been priced out of urban living or is looking for more space for your growing family, a number of suburbs in our area have a lot to offer. We can point you towards the communities that will best meet your needs. And if you’re a homeowner with plans to sell, give us a call. We know how to market your home to millennials … and can help you sell quickly for top dollar by appealing to this leading market segment!
WE’RE HERE TO GUIDE YOU
While national real estate numbers can provide a “big picture” outlook, real estate is local. As local market experts, we can guide you through the ins and outs of our market and the issues most likely to impact sales and home values in your particular neighborhood.
If you’re considering buying or selling a home in 2020, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.
START PREPARING TODAY
<br /> If you plan to BUY this year:
Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly.
Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.
Come to our office. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today!
If you plan to SELL this year:
Call us for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it will also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property, and it will help us price your home correctly once you’re ready to list.
Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results.
Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage ... and get you one step closer to moving when the time comes!
Sources:
NBC News -<br /> <a href="https://www.nbcnews.com/business/economy/what-impending-recession-new-survey-shows-most-people-think-they-n1098511">https://www.nbcnews.com/business/economy/what-impending-recession-new-survey-shows-most-people-think-they-n1098511</a>
Curbed -<br /> <a href="https://www.curbed.com/2019/1/10/18139601/recession-impact-housing-market-interest-rates">https://www.curbed.com/2019/1/10/18139601/recession-impact-housing-market-interest-rates</a>
HousingWire -<br /> <a href="https://www.housingwire.com/articles/corelogic-expects-home-prices-to-do-this-in-the-next-12-months/">https://www.housingwire.com/articles/corelogic-expects-home-prices-to-do-this-in-the-next-12-months/</a>
Forbes -<br /> <a href="https://www.forbes.com/sites/alyyale/2019/11/15/2020-housing-outlook-expert-predictions-for-mortgage-rates-home-prices-tech-and-more/#343ea4522935">https://www.forbes.com/sites/alyyale/2019/11/15/2020-housing-outlook-expert-predictions-for-mortgage-rates-home-prices-tech-and-more/#343ea4522935</a>
National Association of Realtors -<br /> <a href="https://www.nar.realtor/newsroom/expect-continued-economic-growth-slower-real-estate-price-gains-and-small-chance-for-recession-in">https://www.nar.realtor/newsroom/expect-continued-economic-growth-slower-real-estate-price-gains-and-small-chance-for-recession-in</a>
Redfin -<br /> <a href="https://www.redfin.com/blog/homeowners-staying-in-their-homes-longer/">https://www.redfin.com/blog/homeowners-staying-in-their-homes-longer/</a>
HousingWire -<br /> <a href="https://www.housingwire.com/articles/builders-are-coming-to-the-housing-markets-rescue/">https://www.housingwire.com/articles/builders-are-coming-to-the-housing-markets-rescue/</a>
Realtor.com -<br /> <a href="https://www.realtor.com/research/2020-national-housing-forecast/">https://www.realtor.com/research/2020-national-housing-forecast/</a>
YCharts -<br /> <a href="https://ycharts.com/indicators/30_year_mortgage_rate">https://ycharts.com/indicators/30_year_mortgage_rate</a>
MBA Mortgage Market Forecast November 2019 -<br /> <a href="https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary">https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary</a>
Dallas Morning News -<br /> <a href="https://www.dallasnews.com/sponsored/real-estate/2019/11/23/experts-predict-where-mortgage-interest-rates-land-in-2020/">https://www.dallasnews.com/sponsored/real-estate/2019/11/23/experts-predict-where-mortgage-interest-rates-land-in-2020/</a>
Realtor.com -<br /> <a href="https://www.realtor.com/news/trends/biggest-changes-coming-in-2020-real-estate-and-tips-for-buyers-and-sellers/">https://www.realtor.com/news/trends/biggest-changes-coming-in-2020-real-estate-and-tips-for-buyers-and-sellers/</a>
2020-01-01T15:04:00-07:002020-01-13T17:11:02-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6454Gifts and Gadgets for Every Room in the HouseAre you searching for new and innovative gift ideas this holiday season? If so, check out our list of the hottest home technology offerings. We’ve selected a few of our favorites for every room in the house.<img src="https://assets.site-static.com/userfiles/1602/image/december.jpg" width="400" height="210" alt="Gifts and Gadgets for the home" style="margin: 1px; float: right;" />
These smart systems and devices add comfort, convenience, and a “cool factor” that will delight your friends and family. So think about who you know that loves the latest gadgets … or add a few of these to your own wish list!
ENTRYWAY
Ensure the safety of your loved ones with these smart security upgrades.
Smart Lighting
Ring, a company best known for its video doorbells, has added smart lights to its series of integrated devices. The <a href="https://shop.ring.com/pages/smart-lighting" target="_blank">Ring Smart Light System</a> includes motion sensors, pathlights, spotlights, and even step lights, which can be turned on and off using voice commands when paired with an Amazon Alexa device. Users may opt to receive a notification when motion is detected on the premises, and—if integrated with Ring security cameras—access a live video stream for an added layer of security. Systems start at $69.99.
Video Doorbell
Video doorbells have become an increasingly popular security enhancement for homes, and for a good reason. Homeowners can detect activity at their front door while away, view visitors via video stream, and communicate without opening the door. Since Ring released its first smart doorbell in 2013, a number of competitors have entered the market. The <a href="https://store.google.com/product/nest_hello_doorbell" target="_blank">Nest Hello Video Doorbell</a> has some unique features—like facial recognition, package detection, and pre-recorded quick responses—that place it near the top of the pack. Retails for $229.
Smart Lock
Smart locks are a great way to ensure your friends and family are never left out in the cold, and the <a href="https://august.com/products/august-smart-lock-pro-connect" target="_blank">August Smart Lock Pro+ Connect</a> is among the most highly rated. It’s one of the easiest models to install because it pairs with an existing deadbolt. The Smart Lock Pro enables a user to lock and unlock their door remotely with an app on their phone. And with the auto-lock/unlock feature, it can be set to open automatically upon approach and relock after entry. Retails for $279.
LIVING ROOM
These fun and functional gifts are perfect for anyone who is big on style—but short on time.
Automated Planter
Caring for household plants is easier than ever with the latest advancements in technology. Perfect for frequent travelers or forgetful friends, the <a href="https://dewplanter.com/" target="_blank">Dewplanter </a>uses moisture in the air to water plants without manual intervention. Now nature lovers can enjoy the beauty and health benefits of houseplants without the hassle. Plus, for each unit sold, the company pledges to plant a tree somewhere it’s needed. Retails for $69.50.
Smart Art
Instead of buying your favorite art lover a single painting, why not give him or her 30,000? With the <a href="https://meural.netgear.com/" target="_blank">Meural Canvas,</a> you can access an extensive collection of artwork from around the world to display digitally in your own home. Meural utilizes proprietary technology to deliver an anti-glare matte display that automatically adjusts to the lighting in the room. Personal artwork and photographs can be showcased, as well. Retails for $445 with annual membership.
Motorized Shades
Motorized window coverings aren’t new, but a lower price point and enhanced features have helped to boost their popularity. The latest <a href="https://www.somfysystems.com/en-us/products/shades-blinds-curtains/motorized-shades" target="_blank">Motorized Shades from Somfy</a> can be preprogrammed to raise or lower at certain times of day or controlled on-demand via a remote, smartphone app, or voice command when paired with Amazon Alexa or Google Home. They can also be set to operate automatically in response to the amount of sunlight or temperature of the room. Contact a dealer for pricing.
KITCHEN
These kitchen gadgets make life a little easier and a lot more enjoyable. They’re perfect for your busiest friends and family members!
Pressure Cooker
Have you jumped on the multi-cooker bandwagon yet? If so, you know how fast and simple these multifunctional appliances make meal preparation. The <a href="https://www.amazon.com/Instant-Pot-Multi-Use-Programmable-Pressure/dp/B00FLYWNYQ" target="_blank">InstantPot Duo</a> is a pressure cooker, sauté pan, steamer, slow cooker, rice cooker, food warmer, and yogurt maker all-in-one. It reduces cooking time and lowers energy consumption. Who wouldn’t love one of these versatile tools? With numerous cookbooks and blogs devoted to InstantPot recipes, the meal options are virtually endless. Retails for $99.95.
Cocktail Machine
Cocktail connoisseurs will appreciate the ease and convenience of the <a href="https://bartesian.com/" target="_blank">Bartesian Premium Cocktail Machine.</a> Listed among “Oprah’s Favorite Things” for 2019, the Bartesian mixes drinks with the touch of a button. Simply fill the canisters with base spirits, choose a cocktail capsule, and the machine does the rest. Now you can mix a margarita, whiskey sour, cosmopolitan, and other favorites as easily as you brew a cup of coffee. Retails for $349.
Smart Refrigerator
Kitchens are often called the “heart of the home,” and a new refrigerator from Samsung aims to be the hub. The <a href="https://www.samsung.com/us/explore/family-hub-refrigerator/overview/" target="_blank">Samsung Family Hub Refrigerator</a> helps busy families stay organized. Grocery shopping becomes a breeze with built-in cameras that allow owners to peek inside their fridge from anywhere. The interactive touchscreen displays pictures, notes, and reminders for family members. And the integrated SmartThings app enables users to control smart devices and appliances from a central point. Base model starts at $3,099.
BEDROOM
Almost nothing beats a good night’s sleep. Help your loved ones wake up refreshed with these smart devices for the bedroom.
Baby Sleep Soother
As any parent knows, when your baby isn’t getting sleep, neither are you. Help everyone in the family catch some z’s with a <a href="https://www.amazon.com/Bubzi-Co-Machine-Woodland-Portable/dp/B06Y5Q5XRB" target="_blank">Bubzi Co Soothing Owl</a>. This cuddly creature plays lullabies while projecting a starry scene on the bedroom wall to calm young children and help them drift off to sleep. And for every purchase, Bubzi Co makes a donation to Postpartum Support International. Retails for $30.95.
Sunrise Alarm Clock
Know someone who hates getting up in the morning? Alarm clocks that utilize light instead of a noisy alarm can provide a more peaceful transition in and out of sleep. The <a href="https://www.usa.philips.com/c-e/smartsleep/connected-sleep-and-wakeup-light.html" target="_blank">Philips SmartSleep Connected Sleep and Wake-Up Light </a>includes customizable sunrise and sunset simulation, guided breathing exercises, and sensors that track room conditions, like temperature, humidity, noise, and light. Retails for $199.95.
Smart Thermostat
Temperature fluctuations during the night can disrupt sleep. The <a href="https://store.google.com/us/product/nest_learning_thermostat_3rd_gen?hl=en-US" target="_blank">Nest Learning Thermostat</a> uses smart technology to track a user’s preferences and build a schedule around them. Homeowners can place one of its integrated sensors in their bedroom to maintain a consistent temperature throughout the night. And Nest thermostats cut energy consumption, so they’ll rest easier knowing they’re saving the planet and money on utility bills . Retails for $249.
BATHROOM
Bathrooms don’t have to be boring. Technology can add flair to the daily routine.
Waterproof Speaker
Music enthusiasts and podcast fans will enjoy streaming their favorites in the shower with a wireless waterproof speaker. The <a href="https://www.ultimateears.com/en-us/wireless-speakers/wonderboom-2.html" target="_blank">Ultimate Ears Wonderboom 2</a> is a mid-priced and versatile option that can go from the bath to the beach. It packs an impressive 13-hour battery life in a small, portable case that’s waterproof, dust-proof, and floatable. Retails for $99.99.
Digital Smart Scale
A scale isn’t an appropriate gift for everyone, but diet and fitness enthusiasts may appreciate the high-tech features available with the <a href="https://www.withings.com/us/en/body-plus" target="_blank">Withings Body+.</a> It tracks weight, body water, and fat, muscle, and bone mass for up to eight users. It can also be set to display local weather and the previous day’s step count. Customized pregnancy and baby modes make this a suitable choice for a growing family, as well. Retails for $99.95.
Vanity TV Mirror
For a truly luxe bathroom addition, consider an integrated vanity television mirror. The <a href="https://www.seura.com/products/tv-mirrors/vanity/" target="_blank">Seura TV Mirror</a> seamlessly incorporates video into a bathroom vanity. It’s vanishing glass technology makes it possible to view the television through a mirror. When turned off, the screen completely disappears. Add lighting or a custom frame to complete the look. Starts at $3,099 for a 19” display.
OUR GIFT TO YOU
Are you considering a permanent technology upgrade for your own home? Give us a call first! Buyer expectations and preferences vary depending on price point, architectural style, and neighborhood. We can help you determine how the enhancement will impact the value of your home before you make the investment.2019-12-02T12:29:00-07:002019-12-02T13:00:06-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:63955 Steps to Finding Your Next Home5 Steps to Finding Your Next Home
Whether you’re a first-time buyer or a seasoned homeowner, shopping for a new home can feel daunting. In fact, 56% of buyers said that “finding the right property” was the most difficult step in the home buying process.1<img src="https://assets.site-static.com/userfiles/1602/image/November_2019_-_MVP_-_LinkedIn_Image_blog.png" width="400" height="228" alt="5 Steps to Finding Your Next Home" style="float: right; margin: 11px;" />
Buying a home is a significant commitment of both time and money. And a home purchase has the power to improve both your current quality of life and your future financial security, so the stakes are high.
Follow these five steps to assess your priorities, streamline your search, and choose your next home with confidence.
STEP 1: Set Your Goals and Priorities
The first step to finding your ideal home is determining WHY you want to move. Do you need more space? Access to better schools? Less maintenance? Or are you tired of throwing money away on rent when you could be building equity? Pinpointing the reasons why you want to move can help you assess your priorities for your home search.
Don’t forget to think about how your circumstances might change over the next few years. Do you expect to switch jobs? Have more children? Get a pet? A good rule of thumb is to choose a house that will meet your family’s needs for at least the next five to seven years.2 Be sure to set your goals accordingly.
STEP 2: Determine Your Budget
Many financial professionals recommend following the “28/36 Rule” to determine how much you can afford to spend on a home. The rule states that you should spend no more than 28% of your gross monthly income on housing expenses (e.g., mortgage, taxes, insurance) and a maximum of 36% of your gross monthly income on your total debt obligations (i.e., housing expenses PLUS any other debt obligations, like car loans, student loans, credit card debt, etc.).3
Of course, the 28/36 rule only provides a rough guideline. Getting pre-qualified or pre-approved for a mortgage BEFORE you begin shopping for homes will give you a much more accurate idea of how much you can borrow. Add your pre-approved mortgage amount to your downpayment to find out your maximum purchasing potential.
STEP 3: Choose a Location
When it comes to real estate, WHERE you choose to buy is just as important as WHAT you choose to buy.
Do you prefer a rural, urban, or suburban setting? How long of a commute are you willing to make? Which neighborhoods feed into your favorite schools? These decisions will impact your day-to-day life while you live in the home.
Another important factor to consider is how the area is likely to appreciate over time. Choosing the right neighborhood can raise the profit potential of your home when it comes time to sell. Look for communities that are well maintained with high home-ownership rates, low crime rates, and access to good schools, desired retail establishments, and top employers.4
STEP 4: Decide Which Features You Need (and Want) in a Home
Start with the basics, like your ideal number of bedrooms, bathrooms, and square footage. Do you prefer a one-story or two-story layout? Do you want a swimming pool?
Keep in mind, you may not find a home with all of your “wants,” or even all of your “needs” … at least not at a price you can afford. The reality is, most of us have to make a few compromises when it comes to buying a home.
Some buyers will opt for a longer commute to get a larger, newer home in the suburbs. Others will sacrifice hardwood floors or an updated kitchen so that their kids can attend their desired school.
If you’re faced with a tough choice about how or what to compromise in your home search, return to STEP 1. What were your original goals and motivations for moving? Reminding yourself of your true priorities can often provide the clarity that you need.
STEP 5: Meet with a Real Estate Agent
A good real estate agent can remove much of the stress and uncertainty from the home search process. From setting goals to securing a loan to selecting the best neighborhood to meet your needs, we will be there to assist you every step of the way.
And no one has more access to home listings, past sales data, or market statistics than a professional agent. We can set up a customized search that alerts you as soon as a new listing you might like goes live. Better yet, we get notified about many of the hottest homes even BEFORE they hit the market.
You might guess that the VIP service we provide is very expensive. Well, the good news is, we can represent you throughout the entire home buying process at NO COST to you. It’s true; the home seller pays a buyer agent’s fee at closing. So you can benefit from our time, experience, and expertise without paying a dime. It’s no wonder 87% of buyers choose to purchase their home with the help of an agent.1
And although we’ve listed it here as STEP 5, the reality is, it’s never too early (or too late) to contact an agent about buying a home. Whether you plan to buy today, next month, or next year, there are steps you can (and should) be taking to prepare for your purchase.
Call us today to schedule a free consultation!
The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.
Sources:
NAR 2019 Home Buyers & Sellers Generational Trends Report -<br /> <a href="https://www.nar.realtor/sites/default/files/documents/2019-home-buyers-and-sellers-generational-trends-report-08-16-2019.pdf">https://www.nar.realtor/sites/default/files/documents/2019-home-buyers-and-sellers-generational-trends-report-08-16-2019.pdf</a>
Architectural Digest -<br /> <a href="https://www.architecturaldigest.com/story/this-is-how-long-you-should-live-in-your-house-before-selling-it">https://www.architecturaldigest.com/story/this-is-how-long-you-should-live-in-your-house-before-selling-it</a>
Investopedia -<br /> <a href="https://www.investopedia.com/terms/t/twenty-eight-thirty-six-rule.asp">https://www.investopedia.com/terms/t/twenty-eight-thirty-six-rule.asp</a>
Money Talks News -<br /> <a href="https://www.moneytalksnews.com/20-clues-youre-buying-home-the-right-neighborhood/">https://www.moneytalksnews.com/20-clues-youre-buying-home-the-right-neighborhood/</a>
2019-11-01T16:41:00-07:002019-11-06T06:26:37-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:62998 Real Estate Documents You Should Keep - and Why!Throughout the entirety of the home-buying process, you will encounter too many documents to count. And, while it may be tempting to keep all of them, it isn’t necessary. How do you know which documents to keep and which you can throw away? Here are eight real estate documents you should absolutely hold on to and why: <img src="https://assets.site-static.com/userfiles/1602/image/file.JPG" width="400" height="271" alt="8 Real Estate Documents You Should Keep - and Why!" title="8 Real Estate Documents You Should Keep - and Why!" style="float: right; margin: 11px;" />
Buyer’s agent agreement
When you start your home search, you choose a real estate agent and sign a buyer’s agent agreement – a contract between you and the brokerage. This contract outlines the details of your relationship – who pays the commission, the duration of the contract, terms for terminating, etc. Always hold on to this contract just in case you have an issue with your agent before the transaction closes.
Purchase agreement
When it comes time to buy a home, you'll sign a purchase agreement – a contract signed by both you and seller confirming the agreed upon purchase price, closing date, etc. Hold on to this document as it contains the legal ramifications in the case you or seller fails to fulfill the duties outlined in the agreement.
Addenda, amendments or riders
The documents above either alter or amend the terms of your purchase agreement. As they change the terms of the original document, they are worth holding onto – especially in the case the seller didn’t complete repairs that were outlined in an addendum.
Seller disclosures
Sellers are required to disclose certain problems with the home that could affect its value – lead-based paint, pest infestations, renovations completed without a permit, etc. Keep these documents on hand in the event major problems come up with your new home after you move in – they could be the basis for a future lawsuit.
Home inspection report
During the buying process, you will complete a home inspection. At the conclusion of this home inspection, the inspector will hand you a detailed report outlining the condition of the home and any potential problems. File this documents away just in case you need to make repairs to the property in the future.
Closing disclosure
The closing disclosure is a document given to a borrower (at least three business days before settlement) from their mortgage lender outlining the details of their loan: loan term, loan type, interest rate, closing costs, etc. Keep this document on hand for future reference when filing your taxes.
Title insurance policy
Title insurance protects you against any competing claims to the home: liens against the property or fraudulent signatures. You should keep this document just in case another party (a previous owner) tries to claim the property.
Property deed
When the house officially becomes yours, you will receive the deed – a document that confirms ownership of the home to you. Typically mailed to you after the title transfer documents are recorded at your county’s public records office, this document is the only way to show someone you are the legal owner of the home.
Do you have any questions about any of these documents? Are you interested in buying a home in the Austin area? Give our team a call. We are always available to help you.
2019-10-28T18:05:00-07:002019-11-03T07:58:54-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6313How Your Kitchen Can Attract Buyers<img src="https://assets.site-static.com/userfiles/1602/image/Resident_Realty_How_Your_Kitchen_Can_Attract_Buyers_Austin_Real_Estate_Tips.jpg" width="400" height="267" alt="How Your Kitchen Can Attract Buyers" title="How Your Kitchen Can Attract Buyers" style="float: right; margin: 11px;" />Just as the kitchen is the hub for many families, it’s also one area of the home that prospective buyers are the most excited to see. If they can’t see themselves in the kitchen, preparing dinners, making coffee, and getting holiday dishes together for large feasts, you may have difficulty selling your home. So, what can you do to make your kitchen seem less like a diamond in the rough and more like a one of a kind gem?
1. Get rid of trash and dirty dishes
This may seem like an obvious one, but it’s smart to take out the kitchen trash before heading out of your home and before a showing happens in order to make sure no unpleasant smells linger. Give your guests a clear sink to inspect if they can imagine doing the dishes there.
2. No signs of pets
As much as you love your dogs, cats, birds, and all the other animals in the world, potential buyers may not share that same enthusiasm for them. It can be a major turn off to walk into a kitchen to see bird cages, dog bowls, or a litterbox. Don’t give your guests any reason to draw their attention away from the overall inviting atmosphere of your kitchen.
3. Create as much space as you can
Buyers will be seriously considering the amount of counter space, cabinet space, and pantries, so be sure to have those areas as clear as possible. Keep the necessities out, but get rid of the extra clutter.
4. Clean appliances
Having a clean kitchen equates to having a clean home that has been well taken care of throughout the years in a buyer’s mind. Expect people to open up your stove, microwave, refrigerator, etc. With that said, you can’t just do a surface cleaning. You’ll want to take it a step further to make sure everything sparkles and that your refrigerator and freezer are organized and don’t contain anything that will gross out buyers.
5. Get rid of sign of pests
Bugs or rodents in the kitchen can be signs of major issues throughout the home and signal to potential buyers that they will face a lot of costs and time spent ridding the property of pests. Simply having rodent traps under the sink and bug spray laying around can make buyers turn away.
Simply taking a few extra steps to make your kitchen stand out can have a huge impact on the impression your home makes to buyers. You want to have guests craving to make breakfast for the family on Christmas morning in your kitchen. If you need any other tips on how to get your home sold, give our team a call! We’re always happy to give you some advice. 2019-10-22T18:41:00-07:002019-11-03T05:50:35-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6288Reasons Fall is the Best Time to Buy a HomeWhat time of the year is the best for real estate? We're sure many of you said, "Spring." However, that might not be 100 percent accurate. While the spring market is the ideal time to sell your home…it turns out; it may not be the best time to buy a house. Why do we say this? Well, with less competition and lower home prices, fall might just be the season frontrunner for home buyers. What reasons attribute to fall being the best time to buy a home? Let's take a look at the top seven:<img src="https://assets.site-static.com/userfiles/1602/image/fall.JPG" width="400" height="267" alt="Reasons Fall is the Best Time to Buy a Home" title="Reasons Fall is the Best Time to Buy a Home" style="float: right; margin: 11px;" />
Lower home prices
Did you know October is the best time to snag a great deal on a new home? According to RealtyTrac's analysis of more than 32 million home sales in more than 15 years, October buyers paid 2.6 percent BELOW the estimated market value at the time for their homes. While 2.6 percent doesn't seem like much, it is more than you think! For example, if you're looking for a home worth $350,000 – 2.6 percent is a $9,100 discount. That discount can help you pay for any number of new homeowner expenses: closing costs, homeowner’s insurance, monthly mortgage payments, moving expenses and more. If you can help it, wait until fall to begin shopping for a bargain deal!
Less competition
If they can help it, most home sellers will wait until spring to list their home. Why? Simple. It is the best time to get the highest market value for your home. With an increased number of homes on the market, there is also an increased number of buyers perusing. To avoid high competition for homes, avoid searching during this time. Instead, be patient and wait until the fall to buy a home. Less competition means more time to consider a home before putting in an offer and a lower likelihood of competing offers.
Worn-out home sellers
If a seller has their home on the market in the fall, it's usually because they don't have any other option. How does this benefit you as a homebuyer? As they have their home on the market out of necessity, they are probably in a position where they NEED to sell their home and are open to negotiating, resulting in a potentially better deal for you.
Did you know that sellers price their home higher in the spring? It’s true. While some do sell, others remain on the market for one reason: they are priced above fair market value. As these homes often receive little attention in the spring, they will sometimes remain on the market until the fall. If they do, chances are the sellers are getting impatient and looking to sell their home fast – resulting in a better deal for you!
Holidays are around the corner
The holiday season is right around the corner. As a home seller, there is nothing worse than being in the middle of selling your home during Thanksgiving and Christmas. Why? Because instead of enjoying the holiday with friends and family, you have to accommodate home showings whenever a potential buyer would like to view your home. These home showings have the possibility of ruining holiday plans. If a home seller wants to get into a new home before the holiday season, they will likely be extremely motivated to get out of their current home FAST – possibly resulting in a great deal for you! Use this pre-holiday window (October) as an opportunity to find a new home for a great deal.
Year-end tax credits
While you don’t buy a home for the tax benefits, it is a nice incentive. If you close a home at the end of the fiscal year, you might reap the benefits of some nice tax deductions: closing costs, property tax and mortgage interest.
Real estate agent has more time
Fewer buyers and sellers on the market allow your REALTOR® to dedicate more time to help you locate a home. More time with your REALTOR® gives you the opportunity to ask questions and view more homes.
Home improvement bargains
According to <a href="https://www.consumerreports.org/cro/money/best-time-to-buy-things/index.htm">Consumer Reports</a>, December is the best month to get a bargain on your home’s major appliances: refrigerators, stoves, washers, dryers and more. If you are thinking you want to buy a home with the intention of fixing it up, waiting until the fall to buy and the winter to upgrade can save you a bundle of money! Bonus, the end of the year is also the best time to buy cookware and TVs.
Less competition, deals on home goods and lower home prices make fall the PERFECT time to buy a home. A little patience can go a long way.
Do you want to buy a home in the Austin area? Now is the ideal time to buy. Give us a call today to get more for your move.2019-10-15T17:30:00-07:002019-11-03T06:10:50-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6290How to Find Your “Right-Size” Home<img src="https://assets.site-static.com/userfiles/1602/image/Depositphotos_132371658_original.jpg" width="400" height="267" alt="How to Find Your “Right-Size” Home" title="How to Find Your “Right-Size” Home" style="float: right; margin: 11px;" />Choosing the “right-size” home for your family can impact your financial situation, comfort, overall happiness and more! While it may seem simple to determine your “right-size” home, it isn’t as easy as it may seem. In truth, it’s all about deciding what you “need” versus what you “want.” If you’re thinking about buying a home in the coming months or years, there are a couple of things you should do before beginning your online search. First, assess your financial picture. Once you know what you can actually afford, look at your current situation and your needs, now and in the future. To help you out, we’ve created this how-to guide to walk you through determining your “right-size” home:
Assess your financial picture
Buying a home is one of the most important financial decisions of your life. As such, the first step to buying a home should be assessing your financial picture. To do that, ask yourself, “what can I afford?” Keep in mind, reasonably is far different than actually. While your lender may approve you for a loan, they are telling you what you can reasonably afford – not what you can comfortably, or actually, afford. To determine what you are comfortable with, assess your current situation and future goals (i.e., retirement). From there, look at your monthly budget to determine how much you can afford for a monthly mortgage payment. Once you know how much you can afford monthly you can figure out your overall budget for a new home. For more advice, read our <a href="http://www.residentrealtyaustin.com/blog/how-much-house-can-you-actually-afford/">"how much house can you actually afford?" blog</a>.
Consider now and future needs
Your needs now likely won’t be the same as your needs in the future. Be sure to take both into account to ensure you don’t need to move again in just a few years. Questions to ask yourself should include, but are not limited to, the following:
Do you plan on having children?
Do you think your parents or in-laws will move in with you at some point?
Do you work from home, or you think you might at some point in the future?
Assess your current situation
What are the specifics of your current home? Do you need more or less space? Do you need a larger kitchen or living area? To compare potential homes to your current home, do the following before beginning your search:
What size are the rooms in your home? While doing this, also jot down your impression of the space.
How do you like the size of the rooms? Are they too big? Too small? Just right?
How do you like the layout of the room? Is it awkwardly shaped? Situated weird for furniture?
How big are the closets? Do the rooms need more storage space?
Assess the front and backyard, plus other outdoor spaces. Are they big enough? Or, would you like more space? Do you want your backyard to be more private?
Where does your home sit on the lot? Is it too far back? Do you wish it was closer to the street?
Assess your deck/porch (if you have one)? Do you want a larger space? If you don’t have one, do you want one?
Are you done assessing the inside and outside of your current home? If so, you should now have a good grasp on what you need in a new home.
Do you need more space? Here are a couple of great reasons to go bigger:
More bedrooms – for current or future children, or if your parents or in-laws move in
Office space – if you work from home, or think you may in the future
Bonus space – craft, game or playroom for the kids
Storage space
Entertainment space
Is your space too big? Here are some reasons to go smaller:
Economical – cuts down on costs (home price, heating, cooling, furnishes, decorations, etc.)
Easier to maintain and clean
Too many rooms – once the children move out, you will likely have too much space
Evaluate your options within your price range
Your assessment is complete. Now, look at your observations and determine what you should look for in a new home. Once you have your list, contact a REALTOR® to help you locate homes within your price range with most of the needs you noted – as you likely won’t find an option with all. Please note: look at different size homes within your price range – as the layout and size of the rooms can change the overall feel of the property. You never know until you walk into a home.
Do you have any questions about searching for a home in the Austin area? We can help! Contact us to help you get more from your move.2019-10-12T17:40:00-07:002019-11-03T06:31:37-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:62967 Signs Of An Up-And-Coming NeighborhoodAs Austin continues to grow at a rapid rate, you’re likely to drive through a neighborhood and wonder when it developed from a bleak land to an area bursting with new businesses and high property values. House inventory is a challenge for those looking to purchase, so buying a fixer-upper is one way to buy into an up-and-coming neighborhood. Here are the signs the community is poising to turn the corner from frightful to fabulous.<img src="https://assets.site-static.com/userfiles/1602/image/002_Front_2_1.jpg" width="400" height="300" alt="7 Signs Of An Up-And-Coming Neighborhood" title="7 Signs Of An Up-And-Coming Neighborhood" style="float: right; margin: 11px;" />
New business
Has a new high-end food market or organic restaurant popped up lately? It’s worth looking into a community if retailers are flocking to the nearby storefronts. As new businesses grow (especially supermarkets) the housing industry generally follows.
Code enforcement
Take note of areas where municipalities are governing the appearance of buildings more closely. Strict building and appearance codes indicate the demand will be high for business owners and homeowners to maintain the appearance of their property, making the neighborhood more desirable.
Different perspective
You may hear phrases like, “The area is really growing,” or, “Now is a good time to get into that neighborhood,” which means the perception of an area is changing. A boom in new business, stronger public safety (less crime) or a new school can drive property values up.
History repeats itself
New construction homes have seen a surge lately, but more established neighborhoods always make a comeback. Neighborhoods with Tudors, Victorians, Spanish-style homes, or even Mid-Century Moderns see periods of emptiness, but those neighborhoods are now in very high demand. Communities with unique houses and mature landscaping lure homebuyers in to pay a premium, so if you find a neighborhood with an open property – add it to the must see list!
Booming economy
Check out the unemployment rate in the community. See where leaders are making an investment in jobs and which industries are moving into the area. Where there’s an increase in job opportunities, property value will follow.
Schools being built
If new schools are being built or current ones renovated, that’s a great sign of growth. When a school district needs new or better schools, there’s likely an expected population boom. Look in neighboring communities for home growth or a property value surge. If school leaders are planning for more students, you could be on the fringe of an up-and-coming neighborhood.
Short market time
What’s the average time a home stays on the market in your desired area? Get a brief history of the real estate trends in the area. If homes were once sitting for months but are now selling within weeks or even days, there’s a growth trend in the area. Consider the opportunity of buying into the area while housing prices are still reasonable.
There are a number of reasons to consider an up-and-coming neighborhood for your next home purchase. Jobs are plentiful, housing prices are reasonable and the city is pumping cash into the area’s infrastructure. Work with your real estate agent to find a developing neighborhood and benefit from future growth.
2019-10-07T17:59:00-07:002019-11-03T06:24:47-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6251Everything You Need to Know About iBuyers and the 'Instant Cash Offer'Technology is changing the way we do almost everything, and real estate transactions are no exception. In fact, a new crop of tech companies wants to revolutionize the way we buy and sell homes.
iBuyer startups like Opendoor, Offerpad, and Properly are rapidly expanding into new territories, and now established players, like Zillow, are starting to get in on the action. Also known as Direct Buyers, these companies use computer algorithms to provide sellers with a quick cash offer to buy their home.
While the actual market share of iBuyers remains small, their big advertising budgets have helped create a noticeable buzz in the industry. This has left many of our clients curious about them and how they work.
In this article, we explain their business model, weigh the pros and cons of working with an iBuyer, and share strategies you can use to protect yourself if you choose to explore this new option to buy or sell your home.
FIRST, HOW DOES THE iBUYER PROCESS WORK?
While each company operates a little differently, the basic premise is the same. A seller (or seller’s agent) completes a brief online form that asks questions about the size, features, and condition of the property. Some also request digital photos of the home.
The iBuyer will use this information to determine whether or not the home fits within their “buy box,” or set of criteria that matches their investment model. They are generally looking for houses they can easily value and “flip.” In most cases, their ideal property is a moderately priced, single-family home located in a neighborhood with many similar houses. The property shouldn’t require any major renovations before listing.1 These qualities make it easier to assess value (lots of comparable sales data) and help to reduce risk and minimize carrying costs.
Once the iBuyer has used their algorithm to determine the amount they are willing to pay, they will email an offer to the seller, usually within a few days. The offer should also disclose the company’s service fee, which is typically between 7% and 12% of the purchase price.2
If the seller accepts, an in-person visit and inspection are scheduled. The iBuyer will ask for a reduction in price to cover any defects they find during the process. Once the sale closes, they will make the necessary updates and repairs and then resell the home on the open market.
WHAT ARE THE PROS AND CONS OF SELLING TO AN iBUYER?
Of course, the biggest benefit of selling your home to an iBuyer is convenience. For some homeowners, the stress and disruption of preparing and listing their home can feel overwhelming. And what busy family with kids and pets wouldn’t want to skip the hassle of keeping their house “show ready” for potential buyers? Additionally, many sellers like the predictability of a cash buyer and the flexibility to choose their closing date.
However, this added convenience does come at a cost. An iBuyer is an investor looking to make a profit. So their purchase offer is usually below true market value. When you tack on service fees of up to 12% and deductions for updates and repairs, studies show that sellers who work with iBuyers net a lower amount than those that list the traditional way.3
In fact, a MarketWatch investigation found that transactions involving iBuyers net the seller 11% less than if they would have sold their home with an agent on the open market.2
WHAT ARE THE PROS AND CONS OF BUYING FROM AN iBUYER?
Buying a home from an iBuyer is a lot like buying a home from any investor. The pros are that it’s usually clean, neutral, and moderately updated. You’ll often find fresh paint and modern finishes. And because it’s uninhabited (no one is living there), you don’t have to work around a seller’s schedule to see the home.
However, there are some pitfalls to avoid when working with iBuyers. Speed is of the essence, so sometimes the renovations are rushed and the quality can suffer. Also, their investment margins don’t leave much room for negotiating a price reduction or additional repairs. That leaves buyers —who have already invested hundreds of dollars in an inspection—little recourse if any issues are uncovered.4
That’s one of the reasons we always recommend viewing properties with an agent. During your visit, a real estate professional can point out any “red flags” at the home, provide background information about the neighborhood, and help you assess its true market value. That way, you don’t invest time and money in a high-risk or overpriced property. Safety is also a concern. Some companies allow buyers to access their homes via a smartphone app. While it may seem convenient, it provides an easy way for squatters and others to enter the home illegally.5
Luckily, since most iBuyers (and traditional sellers) pay a buyer agent’s commission, you can benefit from the guidance and expertise of a real estate professional … at no cost to you!
HOW CAN I PROTECT MYSELF IF I CHOOSE TO WORK WITH AN iBUYER?
While it may seem like the “quick and easy” way to go, working with an iBuyer can present some unique challenges. For example, they are notorious for presenting a strong initial purchase offer and then whittling it down with a long list of costly updates and repairs once they complete their inspection.2 And unlike a traditional buyer who is incentivized to make a deal work, iBuyers can easily walk away if you don’t meet their demands.
Just like you wouldn’t go to court without a lawyer, you shouldn’t enter into a real estate transaction without an advocate to represent you. Having a professional agent on your side can be especially important when negotiating with an iBuyer. Remember, they employ sophisticated representatives and a team of lawyers who are focused on maximizing their profits, not yours. You need someone in your corner who has the skills and knowledge to ensure you get a fair deal and who understands the terms of their contracts, so you don’t encounter any unpleasant surprises along the way.
Overall, we think the emergence of new technology that helps to streamline the real estate process is exciting. And if we believe a client can benefit from working with an iBuyer, we present it as an option. But there is—inevitably—a cost to the convenience. After all, most iBuyers eventually list the properties they acquire on the open market, which is still the best place to find a buyer if you want to maximize the sales price of your home.
EXPLORE YOUR OPTIONS
Do you want to learn more about iBuyers and other options currently available in our area to buy or sell your home? We can help you determine the best path, given your unique circumstances. Contact us to schedule a free, no-obligation consultation!
Sources:
The Dallas Morning News -<br /><a href="https://www.dallasnews.com/business/real-estate/2019/07/11/so-called-ibuyer-real-estate-firms-pitch-programs-to-buy-your-house-help-you-hunt-for-another/">https://www.dallasnews.com/business/real-estate/2019/07/11/so-called-ibuyer-real-estate-firms-pitch-programs-to-buy-your-house-help-you-hunt-for-another/</a>
MarketWatch -<br /><a href="https://www.marketwatch.com/story/selling-your-home-to-an-ibuyer-could-cost-you-thousands-heres-why-2019-06-11">https://www.marketwatch.com/story/selling-your-home-to-an-ibuyer-could-cost-you-thousands-heres-why-2019-06-11</a>
Forbes -<br /><a href="https://www.forbes.com/sites/alyyale/2019/08/16/study-shows-ibuyers-cost-home-sellers-thousands-is-convenience-worth-the-price/#697ac0c42269">https://www.forbes.com/sites/alyyale/2019/08/16/study-shows-ibuyers-cost-home-sellers-thousands-is-convenience-worth-the-price/#697ac0c42269</a>
US News & World Report -<br /><a href="https://realestate.usnews.com/real-estate/articles/what-to-expect-when-buying-a-home-from-an-ibuyer">https://realestate.usnews.com/real-estate/articles/what-to-expect-when-buying-a-home-from-an-ibuyer</a>
Inman -<br /><a href="https://www.inman.com/2019/09/11/police-arrest-couple-found-squatting-in-opendoor-home-with-their-kids/">https://www.inman.com/2019/09/11/police-arrest-couple-found-squatting-in-opendoor-home-with-their-kids/</a>
2019-10-06T09:39:00-07:002019-11-03T06:30:11-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:62937 Reasons For Sale By Owner Is A Bad Idea<img src="https://assets.site-static.com/userfiles/1602/image/for_sale.JPG" width="400" height="237" alt="7 Reasons For Sale By Owner Is A Bad Idea" title="7 Reasons For Sale By Owner Is A Bad Idea" style="float: right; margin: 11px;" />The idea of saving money is so appealing to some home sellers that they’ll jump into an area where they likely have little experience, potentially putting themselves at risk for losing time, money, and a legal battle if the process goes awry. A good realtor is able to communicate their value to a potential client, helping the seller realize that listing a home as for sale by owner (FSBO) is not only time consuming, but can make them the target of scams and bring in a lower asking price than with a qualified realtor.
Piles Of Paperwork
For clients thinking selling a home is a quick listing with a few photos with good lighting, the 2015 National Association of Realtors (NAR) <a href="http://www.realtor.org/reports/highlights-from-the-2015-profile-of-home-buyers-and-sellers">Profile of Home Buyers and Sellers</a> introduces the idea of intimidating paperwork. The study shows that the number one challenge for FSBO users is understanding the paperwork necessary in selling property. A sales contract, property disclosures, occupancy agreements, and other land records are all required in the sale.
FSBO Properties Sell For Less
If saving money on realtor fees is the goal, FSBO users should take note of the drastically lower offers being made to home owners attempting to sell their own house. The NAR report mentioned above explains that in 2015, the median FSBO property sold for approximately 16% less than the median home listed with an agent.
The money lost is even greater if the FSBO seller sells the home to a friend or relative at 39% less than the median home sold through a realtor.
Scams
FSBO scams happen to buyers and sellers. For example, when a potential buyer hands over an earnest money check to a FSBO seller, there may not be a written contract in place, leaving the would-be buyer out a few thousand dollars if the seller changes his mind.
Common scams include fake paperwork, out-of-state buyer deposits (scammer sends too much in a bad check and then requests a refund), requesting personal information, or purchases made through a third-party fake attorney or fraudulent mortgage lender.
Complete Liability
Even if the seller isn’t purposefully trying to deceive a buyer, a seemingly small mistake can hurt you in court. For example, when a homeowner lists “hardwood floors” in the home, but the buyer finds that the floors are just a wood veneer could lead to some serious consequences. That language could potentially cost the seller, as the difference in product would change the value of the home.
Inspections Are Tricky
Knowing what to expect during a home inspection is crucial to understanding what you do and do not have to change as the seller. A realtor is educated on the inspection process, frequently deals with buyer demands, and can inform the seller on changes that must be made compared to those that can be left for the buyer.
Lack Of Marketing
An experienced realtor has a detailed, specific marketing plan for each listing in their portfolio. A FSBO seller relies strongly on a sign and word of mouth. The NAR Profile of Home Buyers and Sellers reports that 42% of FSBO sellers depend on a yard sign, 32% relied on friends and family, and 15% used social media.
On Market Longer
Properties listed through FSBOs spend more time on the real estate market. Buyers know that the longer the house sits, the less a seller will likely accept to complete the sale. On average, 18% of FSBO listings were unable to sell within their chosen time period in 2015.
Partnering with a qualified, experienced realtor is the best way to sell your home in Austin, Texas. Remove the time, stress and paperwork from your shoulders and allow the team at Resident Realty Austin to <a href="http://www.residentrealtyaustin.com/selling/marketing-plan/">market your home</a> and bring in top dollar.
2019-10-04T17:46:00-07:002019-11-03T06:28:35-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6200Why You Should Consider Selling in the Winter<img src="https://assets.site-static.com/userfiles/1602/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" />
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.2019-10-02T09:29:00-07:002019-11-03T06:34:47-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:63115 Step Strategy for Downsizing Your HomeIn our “bigger is better” culture, there’s an expectation that each home should be larger and grander than the last. But life changes like divorce, kids leaving for college, or even the simple act of growing older can prompt us to find a smaller home that better suits our shifting needs and lifestyle.<img src="https://assets.site-static.com/userfiles/1602/image/August-2019-MVP-Social-Media-Image.png" width="400" height="210" alt="5 Step Strategy for Downsizing Your Home" title="5 Step Strategy for Downsizing Your Home" style="float: right; margin: 11px;" />
In fact, the advantages of downsizing are being increasingly recognized. A “tiny house movement” has gained passionate advocates who appreciate the benefits of living simply at any age and stage of life. Not only does a smaller home typically cost less, it also takes less time and effort to maintain.1
Whatever your reasons are for downsizing, the process can seem overwhelming. That’s why we’ve outlined five steps to guide you on your journey. And in the end, we hope you’ll find that less is more … more comfort, more security, and more time and energy to spend on the activities and the people that you love.
5 STEPS TO DOWNSIZING SUCCESS
Determine Your Goals and Limitations
The first step is to figure out your goals for your new living environment. Do you want to live closer to family? Are you hoping to cut down on home maintenance? Are you looking for a community with certain amenities?
You should also consider any limitations that will impact the home you choose. For example, are stairs an issue? Do you need access to medical care? In the case of divorce, are there child-custody issues you need to take into account?
Estimate how long you plan to stay in your new home. Do you expect your needs to change during that time?
Make a “wish list” of features and prioritize them from most to least important. If you’d like any assistance with this process, give us a call! We’d be happy to sit down with you for a free consultation. We can also help you assess the value of your current home so you can set a realistic budget for your new one.
Find the Perfect New Home
Once you’ve established your “wish list,” we can begin the search for your new home. As local market experts, we know the ins and outs of all the top communities in our area. We can help you determine the neighborhood and type of home that will best fit your wants and needs.
From family neighborhoods to retirement communities, we serve clients in all stages of life. If you or a loved one are in need of extended support, we can also share our knowledge of the assisted living facilities in town and help you identify those that offer the optimal level of care.
Are you planning to relocate out of town? We can refer you to a trusted real estate professional in your target area who can help you with your search.
Sell Your Current Home
If you’re ready to sell your current home, we’ll begin the process of preparing to list it as we search for your new one.
We have a special interest in helping homeowners who are facing major life transitions, and we offer a full-service real estate experience that aims to remove as much of the stress and hassle of selling your home as possible. We also understand that many of our clients choose to downsize for financial reasons, so we employ tactics and strategies to maximize the potential sales revenue of your home.
We do this by employing our proven three-part approach, which focuses on optimum preparation, pricing, and promotion. As part of that plan, we invest in an aggressive marketing strategy that utilizes online and social media platforms to connect with consumers and offline channels to connect with local real estate agents. This ensures your property gets maximum exposure to prospective buyers.
Sort and Pack Your Belongings
Even before you find your new home, you can begin preparing for your move. A smaller home means less space for your furniture and other possessions, so you will need to decide what to keep and what to sell or donate. Sorting through an entire house full of belongings will take time, so begin as early as possible.
Parting with personal possessions can be an extremely emotional process. Start with a small, unemotional space like a laundry or powder room and work your way up to larger rooms. Focus on eliminating duplicates and anything you don’t regularly use. If you have sentimental pieces, family heirlooms, or just useful items you no longer need, think about who in your life would benefit from having them. For large collections, consider keeping one or two favorite pieces and photographing the rest to put in an album.2
Make sure the items you keep help you achieve the goals you outlined in Step 1. For example, if you want a home that’s easier to clean, cut down on knickknacks that require frequent dusting. If you’re moving to be closer to your grandchildren, choose the shatterproof plates over the antique china.
Allow yourself time to take breaks if you start to feel overwhelmed. If you’re helping a loved one with a move, try to be a patient listener if they want to stop and share stories about particular items or memories throughout the process.3 This can be therapeutic for them and an opportunity for you to learn family history that may otherwise have been forgotten.
Get Help When You Need It
Moving is stressful in any situation. But if you’re downsizing due to health issues or a major life change, it can be an especially tough transition. Don’t be afraid to ask for help.
Seek out friends and family members who can assist with packing and decluttering. If that’s not an option, or if you need additional help, consider hiring a home organizer, full-service moving company, or even a senior move manager, which is a professional who assists older adults and their families with the physical and emotional aspects of relocation.4 You can find one accredited by the National Association of Senior Move Managers at <a href="https://www.nasmm.org/find/index.cfm">https://www.nasmm.org/find/index.cfm</a>.
If financial constraints are holding back, let us know. We can help you explore the possibility of tapping into the equity in your current home now. That way you can afford to get the assistance you need to make your transition as smooth as possible.
ARE YOU LIVING YOUR BEST LIFE?
If your current home no longer suits your needs, maybe it’s time to consider a change. We would love to help you explore your options. Contact us today to schedule a free, no-obligation consultation.
Sources:
The Tiny Life -<br /><a href="https://thetinylife.com/what-is-the-tiny-house-movement/">https://thetinylife.com/what-is-the-tiny-house-movement/</a>
My Move -<br /><a href="https://www.mymove.com/moving/senior-guide-downsizing/">https://www.mymove.com/moving/senior-guide-downsizing/</a>
Daily Caring -<br /><a href="https://dailycaring.com/5-tips-to-downsizing-for-seniors-keepsakes-mementos/">https://dailycaring.com/5-tips-to-downsizing-for-seniors-keepsakes-mementos/</a>
National Association of Senior Move Managers -<br /><a href="https://www.nasmm.org/find/index.cfm">https://www.nasmm.org</a>
2019-10-01T18:37:00-07:002019-11-03T05:53:32-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6199Common Things to Look Out for Before Buying Your Dream Home<img src="https://assets.site-static.com/userfiles/1602/image/3-questions-to-ask-before-buying-your-dream-home.jpg" alt="Common Things to Look Out for Before Buying Your Dream Home" title="Common Things to Look Out for Before Buying Your Dream Home" height="410" width="750" />
It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.
It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.
1. Why am I Buying a Home?
Regardless of the finances, it is important to think about what made you want to buy a home in the first place. Usually the reasons don’t have to do with money. Instead, home buyers are focused on how the house will impact their family in the future. A study done by the Joint Center for House Studies at Harvard found there are four reasons people buy a home. Those reasons include schools for your children, a safe environment, more room for your family to grow, and control of your own space.
These factors are the most common reasons people look to buy a new home. When you ask yourself why you are looking to purchase a home, do any of those factors come up? Spend time with your spouse or family members who are involved in this decision and determine why you want a home in the first place. Creating this list will help when searching for a home and can help your real estate agent find the best home for your needs.
2. What is the Trend with Home Values?
Our current economy and housing market is strong. That means home values and mortgage rates are increasing. If you are looking to purchase a home but want to stay within a budget, it may be in your best interest to move quickly. It is forecasted for these trends to continue in an upward motion, causing home values to continue to increase.
3. What About Current Mortgage Rates?
The ticket price is not the only thing you should be concerned with when purchasing a home. Mortgage rates are always changing and can have a huge impact on your monthly payments. Current trends show mortgage rates are rising. This is something to consider if you are debating the right time to purchase a home, since the rates may be even higher down the road.
Bottom Line
You and your family are the only ones who can determine the right time to purchase your dream home. It is important to decide exactly why you want a new home for your family and decide on a budget that will be comfortable moving forward. This budget may affect the amount of time you have to search for a home, since home prices and mortgage rates are increasing. 2019-09-29T09:29:00-07:002019-11-03T06:33:47-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6198Will Increasing Mortgage Rates Impact Home Prices?<img src="https://assets.site-static.com/userfiles/1602/image/mortgage-rate-projections.jpg" alt="Will Increasing Mortgage Rates Impact Home Prices? " title="Will Increasing Mortgage Rates Impact Home Prices? " height="410" width="750" />
There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.
This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.
A recent study by the John Burns Real Estate Consulting found mortgage rates have very little impact on the cost of the home. The housing market and price increases are affected by things like job growth in the area and rising wages. Coincidentally, these same factors are causing the rise in the mortgage rates since people can afford to take out more.
Bottom Line
As the economy progresses and strengthens, mortgage rates and home prices will fluctuate. It is a misconception as rates increase, home prices will decrease. Advances in the economy have shown that rates and home prices are more likely to increase together.2019-09-26T09:29:00-07:002019-11-03T06:32:36-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6310Your Austin Music GuideThere’s good reason Austin, Texas is famously known as The Live Music Capital of the World®. Walkthrough any area of Austin and you’ll find lively music blaring the streets on any given night of the week. Music fills the air in every nook and cranny of Austin from Sixth Street to the Warehouse District. The classic venues aren’t the only places to find music and an incredible nightlife scene. A lot of districts have jumped on the musical coattails of Sixth Street.<img src="https://assets.site-static.com/userfiles/1602/image/Resident_realty_austin_texas_music_guide_Todd_Sherman_Kim_Sherman_7.26.jpg" width="400" height="225" alt="Your Austin Music Guide " title="Your Austin Music Guide " style="float: right; margin: 11px;" />
The next time you are in the city on business or leisure, check out one of the many Austin venues for live music but start with classics; the ones that have been around since the beginning of the music rave in the city. These places started it all and they aren’t giving up their reign any time soon. The locals won’t let them go!
Austin City Limits Moody Theatre is the most popular venue in the city for the most famous acts. You’ll find the walls laced with photos of all the celebrity acts that have performed on this stage. Willie Nelson, Garth Brooks, Dream Theater and many, many more.
Perhaps the most famous street in Austin for live music and more events than you can count; Austin Sixth Street is world-renowned. Millions are attracted to the area every year for events like SXSW, ACL and New Year’s Eve but it’s Sixth Street that they come all year long for.
Austin Warehouse District seems like an overnight sensation but has actually been up and coming for many years. It appears to have come to maturity with the number of bars for live music, dining at upscale restaurants and shopping in the boutiques that line the streets.
Austin isn’t just about rock-n-roll and being the hippest city in the state. You’ll find culture in Austin as well. From Austin Symphony for classical music to Ballet Austin for a performance of The Nutcracker; you’ll find it all here.
Kick up your boots at any one of the many country western dance halls for a little two-stepping, country line dancing or just to hang out with friends. It’s a rootin-tootin good time for everyone. Experience a true Texas tradition with the rest of the cowboys and cowgirls.
When you’re done kicking up dust and decide Austin is the place you must live so you can always enjoy the live music scene, give us a call. We’ll meet you for happy hour somewhere.2019-09-23T18:35:00-07:002019-11-03T05:54:32-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:62785 Reasons to Hire a Real Estate AgentIn a hot real estate market is can be very tempting to "do-it-yourself" by listing your home as "for sale by owner." However, while the housing market may be hot and it may appear like your home will sell quickly without the services of a REALTOR®, there are several advantages and reasons to hire a real estate agent to assist you in the sale of your home. Let's take a look at five of these reasons:<img src="https://assets.site-static.com/userfiles/1602/image/depositphotos_63079189_l-2015_2000.jpg" width="350" height="234" alt="5 Reasons to Hire a Real Estate Agent" title="5 Reasons to Hire a Real Estate Agent" style="float: right; margin: 11px;" />
Paperwork
Do you know what disclosures and paperwork are needed to close the sale of your home? It turns out, purchase agreements can run more than 10 pages, and one mistake could land you in a sticky situation. Utilizing a REALTOR® will keep you from running into any legal issues, while also making the process less stressful and time-consuming for you.
Experience
Most REALTORS® have extensive experience and knowledge when it comes to selling a home. Trust them. A REALTOR® you trust and have confidence in will help you through every step of the sales process.
Negotiations
As a third-party individual, your REALTOR® has the skills and experience necessary to negotiate the best deal for your house, while also removing any emotion from the process. Also, your REALTOR® acts as the "middleman" to communicate with all parties – keeping your best interests at heart.
Pricing
As an experienced professional, a REALTOR® will complete a comparative market analysis of your home. In doing so, they will determine an accurate listing price of your home, leaving out any personal feelings and emotions toward the home.
Connections
Working in the industry, a REALTOR® will use their extensive database of contacts in the area to help sell your home. Also, they can also provide you with local contacts to help with any needed home repairs or maintenance.
All of this means one thing – trust a REALTOR® to help you sell your home. Chances are it will sell for more and in less time than if you tried to do it yourself!
Do you have any questions about the Austin area real estate market? OR, are you looking for a REALTOR® to help you sell your home in the Austin area? At Resident Realty Austin, we offer flexible commission structures to fit the needs of each individual client. Give us a call today to learn more!
Resources:
http://www.capemaycountyherald.com/community/real_estate/article_71c0adda-0b47-11e7-8f6e-ab558bb5bb87.html2019-09-19T17:02:00-07:002019-11-03T06:16:36-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6309Did You Inherit Unwanted Property?At first appearance, inheriting a property can seem like winning the lottery. But just like winning the lottery, there are many unrealized steps to take in collecting your “winnings”. Ultimately you have three options when you inherit a property. To live in it, sell it, or rent it out. Regardless of what you choose to do with the inherited property, there are steps to take leading up to your final decision.<img src="https://assets.site-static.com/userfiles/1602/image/Resident_Realty_Texas_Todd_Sherman_Kim_Sherman_real_estate_broker.jpg" width="400" height="268" alt="Did You Inherit Unwanted Property?" title="Did You Inherit Unwanted Property?" style="float: right; margin: 11px;" />
First things first, have us do a market analysis or you right away. Regardless of whether you decide to keep the property or sell it, having an idea of the market value will be helpful as you move forward.
More <a href="https://www.westbrookrei.com/how-to-decide-whether-to-sell-or-keep-your-inherited-property/" target="_blank">How to Decide Whether to Sell or Keep Your Inherited Property</a>
You'll need to have the property legally transferred to you. If you need a recommendation for a real estate attorney, we have some great connections. You'll also want to know what taxes you might be required to pay moving forward. If you need a recommendation for a CPA, we have great connections there too!
After all, avenues are explored, you may find that the best decision after inheriting property is to sell. Give us a call! We have been selling property for almost 20 years and will help protect your interest in the process, help you navigate your best course and make sure you know all of your options along the way to a smooth closing.
"This article shouldn't be considered tax advice, and for all questions or concerns of that nature, please contact your trusted CPA."2019-09-16T18:31:00-07:002019-11-03T05:55:41-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6308Luxury Restaurants in Downtown AustinDowntown Austin may be the city’s bustling hub of live music, Sixth Street nightlife, and more events than the locals know what to do with but believe it or not there are still many quiet restaurants in downtown Austin.<img src="https://assets.site-static.com/userfiles/1602/image/diner.jpg" width="466" height="429" alt="Luxury Restaurants in Downtown Austin" title="Luxury Restaurants in Downtown Austin" style="float: right; margin: 11px;" />
You will feel right at home in this cozy restaurant in Downtown Austin, despite the lively streets outside. Eddie V’s is a prime seafood restaurant complete wine bar and ideal location, perfectly situated in the heart of downtown on 5th Street. This innovative cuisine will satisfy your hearty appetite.
For a quiet conversation in a downtown Austin restaurant, Chez Nous is the ideal French bistro to visit. The authentic menu is coupled with an intimate atmosphere that will provide for luxury dining in peace and quiet. Enjoy this traditional bistro in a classically decorated venue that is reminiscent of old Paris. Sample the soup of the day, taste appetizers with a glass of wine, or sink your teeth into scrumptious entrees of sautéed and roasted delights.
For a premiere Pacific Asian dining experience complete with sushi, maki, and temaki then She’s Not Here is one the top restaurants in downtown Austin to consider when seeking a quiet place for dinner. Culinary genius is really the only way to delectable menus laid out here. Whether you’re looking for quiet restaurants in Downtown Austin to entertain clients, celebrate occasions with friends or you simply want to dine on the best of the best; She’s Not Here is the place to be.
Sophistication and luxury dining come together effortlessly in the Hotel Ella, formerly the Mansion at Judge’s Hill, located in Downtown Austin off Rio Grande. Indoor and outdoor seating is available or get comfortable in the lounge area. Make a weekend of it by reserving a luxury room or suite and enjoy the business services also available.
With so many choices for quiet restaurants in Downtown Austin, you’ll never have to leave the area. And if you’re in the market to buy or sell in Austin, we’d be happy to meet for cocktails at one of these fabulous places. Just give us a call.2019-09-09T18:29:00-07:002019-11-03T05:56:14-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6201Is Getting a Home Mortgage Still Too Difficult?<img src="https://assets.site-static.com/userfiles/1602/image/getting-a-home-mortgage.jpg" alt="Is Getting a Home Mortgage Still Too Difficult?" title="Is Getting a Home Mortgage Still Too Difficult?" height="410" width="750" />
Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.
Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want to end up in a litigation situation due to loan issues.
What Has Happened to the Number of Mortgages?
Due to the strict nature and requirements of the lending companies, the number of mortgages given out has significantly dropped. A report by the Housing Financial Policy Center at the Urban Institute showed that about 6.3 million fewer mortgages were given out between 2009 and 2015. The reasons behind this statistic are strict regulations and policies. These mortgages would have been granted if the lending standards where more reasonable.
Mortgage companies rely on calculations to determine if a home buyer will become delinquent on their payment. They will not give you a loan if you are too much of a risk for them. Credit history has a huge impact on this decision since lenders can see how often you pay back your debts. The history they receive is extensive. This view into your financial past causes lenders to take less risk when lending to you for your mortgage.
The Effect on the Economy
The housing market is recovering at a slower pace than it should since less potential homebuyers are being offered loans. While the market is still recovering with positive trends, fewer buyers can create a strain on other economic factors like home goods or construction jobs. Bottom Line
After the housing market boom and bust, mortgage lenders became stricter in their lending standards. It is not impossible to get a mortgage loan, but it can still be difficult for potential home buyers. Stay on top of your credit and make sure you and anyone else who is applying are in a good financial position so you can be approved for a loan. It is important to research different companies and their requirements to ensure success in getting a mortgage.2019-09-09T09:29:00-07:002019-11-03T06:35:21-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6307Tips to Beat the Texas HeatIn Texas, the weather changes at the drop of a cowboy hat (excuse the pun) but especially during the summer. With triple digit temperatures in the Lone Star State a person learns quickly how to avoid heat stroke and dehydration. You can't stop having fun just because it is hot outside. There's just too much to do. Here are a few tips for surviving the heat in Texas if you must be outside:<img src="https://assets.site-static.com/userfiles/1602/image/heat.jpg" width="400" height="256" alt="Tips to Beat the Texas Heat" title="Tips to Beat the Texas Heat" style="float: right; margin: 11px;" />
Drink Lots of Water. It's said you should drink 8 glasses of water per day but especially in the summer heat, when you sweat more, you may want to increase your intake. Don't overdo it though.
Carry an Umbrella. No longer used just for protecting you from the rain, a dark umbrella can also help you deflect those nasty sunrays. You will not be alone. Texans have learned to carry an umbrella with them to any outdoor sporting events, outdoor festival, or anywhere else the sun beams down on them.
Wear a Hat. Believe it or not this simple step can help you to avoid sunburn and headache. Whether it be a cowboy hat, a baseball hat, a sombrero, a fisher’s hat, whatever, wear one if you can. It’ll help alleviate the heat headache at the end of the day.
Use Sunscreen. If you are going to lounge by the pool all day, hiking in the great Austin outdoors, or simply sitting at the park, it is recommended that you use some sort of sunscreen on a daily basis in Texas. You'll find SPF protection in everything from sunscreen to make-up to lip balm these days.
Use the Ice Pack for More Than Lunch. Those nifty little square boxes you throw in the freezer the night before you pack your lunch can also be used to cool you down during your daily walk/run. By securing one against your lower back, you may (or may not) notice how much cooler it keeps you.
Enjoy Texas! Life doesn't end because it's getting hot outside, not in Texas anyway, just make sure you're making your life easier by using techniques that help you avoid the heat. Looking for a little A/C, come visit us at the office! We’ll have bottled water and up-to-date real estate listings too!2019-09-01T18:27:00-07:002019-11-03T05:56:53-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6306How to Incorporate Eco-Friendly Fixtures into Your HomeIn recent years, homes and homeowners have become more environmentally conscious. Are you wondering how you can incorporate this trend? As it turns out; it is pretty easy to reduce your carbon footprint. Simply incorporate a few eco-friendly fixtures into your home. Here’s what you should know:<img src="https://assets.site-static.com/userfiles/1602/image/green.JPG" width="400" height="272" alt="How to Incorporate Eco-Friendly Fixtures into Your Home" title="How to Incorporate Eco-Friendly Fixtures into Your Home" style="float: right; margin: 11px;" />
Water
Look for a WaterSense label on your faucets, toilets, showerheads and bathtubs. This label indicates the device has met the strict restrictions certified by an independent testing facility for better conservation and lower water costs.
Lighting
Reduce the cost of lighting your home in the following ways:
Add a dimmer switch to lower the output level of the bulb. The lower the output level, the lower consumption and energy bill.
Add a timer that turns your lights off at a specified time of the day or consider motion-sensor lights to turn on when you enter the room and off shortly after you leave.
Change out your bulbs to an energy-efficient option: CFLs and LEDs. Also, look for the Energy Star symbol on the bulbs.
Heating and Cooling
The cost of heating and cooling a home accounts for the majority of an electric bill – especially during the scorching HOT Texas summers. To cut down on the cost, install a smart thermostat. These devices can learn your habits and help save you money.
Another way to reduce the cost of heating and cooling is to insulate your windows and doors. You don’t want hot air entering and cold air escaping!
Serving your air conditioner regularly – each season – can ensure it is at peak performance.
Water Heater
Switch over to a tankless water heater, a device that heats water as you need it, and save an average of $100 per year.
Do you have any questions about any of these fixtures? Give our team a call. We would be honored to help you make your home more eco-friendly.2019-08-20T18:25:00-07:002019-11-03T05:58:19-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6304Thinking of Moving? Here are 5 Signs It’s TimeAccording to the National Association of REALTORS®, ten years is the average amount of time a homeowner stays in a house. Does that seem long? Or way too short? The truth is, the time frame is drastically different for every individual. And, so is the reason. How do you know when you are ready to sell your home? Here are five signs it’s time to make a move:<img src="https://assets.site-static.com/userfiles/1602/image/house_for_sale_with_family.jpg" width="400" height="289" alt="Thinking of Moving? Here are 5 Signs It’s Time" title="Thinking of Moving? Here are 5 Signs It’s Time" style="float: right; margin: 11px;" />
You want to get in on the seller’s market<br />Ready to make a profit on your property? NOW is the time as the Austin market is prime for sellers. To see what you can get, take a look at online listings in your neighborhood and see what other homes are selling for. Or, contact our team today for your complimentary market analysis. If the number looks appealing, selling may not be a bad
You’re feeling financially stressed<br />As home prices increase in the Austin-area, so too do property taxes. Are you struggling to make your monthly mortgage payments? If so, it may be the time to downsize to a smaller home. Easing your financial burden will relieve the stress in your life. To live comfortably, make sure your monthly housing costs don’t exceed 28 percent of your gross monthly income.
Your family has outgrown your home<br />A starter home is perfect when you just get married. However, it may not be practical when you have children. As your family grows, so should your home. Then, once your children fly the coop, consider downsizing. Too big of a home is hard to clean and more expensive in property taxes. The bottom line? Make sure your home works for your family.
You’re sick of high maintenance<br />On average, a homeowner spends $2,000 a year for maintenance services. And, as a general rule, the longer you have the home, the more likely parts will need maintenance or replacing. Are these costs getting too expensive? To avoid the high maintenance costs, consider buying a low-maintenance condo or a new-build home.
You’ve had the home more than five years<br />There is such a thing as selling your house too soon. How long should you stay? At least five years. At this point, most homeowners have built up equity beyond that of the down payment and selling is feasible. Urgent circumstances come up, but, if you can help it, you should plan to stay for more than five years. Oh, and remember, selling isn’t free. You have to pay for the costs associated with hiring a real estate agent, closing and buying a new home.
Of course, there is no guarantee that selling will work out better for you. Think about it and do what you think will work best in the long run.
Have questions about selling? We are here to help you get more for your move. Contact us today to learn more.2019-08-12T18:19:00-07:002019-11-03T06:00:14-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6300Top 6 Mortgage Tips for First-Time HomebuyersIf you’re a first-time homebuyer, the mortgage process may seem intimidating. However, it doesn’t have to with a little bit of knowledge and understanding. With that in mind, here is a look at six mortgage tips to educate you on the process before you even get started: <img src="https://assets.site-static.com/userfiles/1602/image/first_time_buyers.JPG" width="400" height="274" alt="Top 6 Mortgage Tips for First-Time Homebuyers" title="Top 6 Mortgage Tips for First-Time Homebuyers" style="float: right; margin: 11px;" />
Study the mortgage types<br />Do you know what your choices are when it comes to different mortgage loans? Likely, if you have never been through the process before, you have little knowledge on the subject. However, it is something you can learn with just a little bit of research. Start by taking a look at the pros and cons of conventional vs. government-based loans and adjustable-rate vs. fixed-rate loans. The information should help you narrow down your best option. If you still have questions, reach out to a lender in the area. They should be able to walk you through all of your options.
Consider how long you’ll live in the house<br />How long you plan on living in the house can be a big deciding factor on the type of loan you should get. For example, an adjustable-rate mortgage, with a lower interest rate up front, could be a great option if you plan to stay in the house for a few years while a fixed-rate is usually a better option long term.
Shop for the best rate<br />The interest rate on your loan is determined by your credit history and credit score, among other factors. Typically, when your credit is good, you will get a lower rate and, when bad, a higher rate. But, every lender is different. What do we mean by that? Each lender has a different comfort level. With that in mind, shop around and look for the best rate. One lender may offer you a lower interest rate than another.
Consider paying points<br />Points. What are points? A “point” is simply one percent of the loan amount. To lower your interest rate, consider paying some points upfront. Keep in mind; this is a great idea over the long term, but likely not a great idea if you aren’t planning on staying in the home for more than five years.
Ask for advice<br />Talk to family members and friends who have been through the process. They likely have great advice and information that may be useful to your decision.
Factor in PMI<br />PMI, which stands for private mortgage insurance, is an increase in your monthly payments if your down payment is less than 20 percent. If you don’t have 20 percent for a down payment, be sure to factor this cost, generally found on mortgage estimates from lenders, into your monthly budget as it can get pretty expensive. To avoid this cost, wait until you have enough money saved up to make a 20 percent down payment.
Need help locating a lender in the greater Austin area? Give us a call. We would be happy to connect you with a trusted professional in the area.2019-08-12T18:07:00-07:002019-11-03T06:13:48-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6303Know Before You Go! Mortgage Prep & Home Affordability<img src="https://assets.site-static.com/userfiles/1602/image/March_2019.jpg" width="400" height="200" alt="Know Before You Go! Mortgage Prep & Home Affordability" title="Know Before You Go! Mortgage Prep & Home Affordability" style="float: right; margin: 11px;" />Many people fall in love with a new home, only to find out they will not be able to afford it. Here are a few quick tips to make sure this doesn’t happen to you!
PREPARE!
Order your complete credit file from annualcreditreport.com. Once per 12 months, you can obtain a FREE report from all three credit bureaus (Equifax, Experian, Trans Union). If there are any errors, correct them.
Check your FICO credit score using a service such as Credit Karma. Sometimes your credit card company or bank may provide this free service as well.
Gather documents your lender will need: documentation of income/employment, two years of IRS tax returns if self-employed, bank statements, 401(k) funds, and other assets.
Make a list of current household expenses that are recurring such as car payments, health insurance, cell phone bills, etc.
HOW MUCH HOME CAN I AFFORD?<br />There is no simple, magic formula to determine how much home you can afford.
The old standard was 2.5x your annual income. If true and you made $100,000, you could afford a $250,000 home.
Today, some experts suggest that you can afford a mortgage payment as high as 28% of your gross income. If true and you made $100,000, you could afford a $450,000 home.
Most lenders will take your information and use automated underwriting models that factor in credit scores, debt-to-income ratios, and many other factors.
CONNECT WITH A TRUSTED LENDER <br />The best way to truly know before you go? Get PRE-APPROVED by one of your Realtor’s preferred lenders.
Realtors work with lenders all the time as they are an integral part of the home buying process. Your Realtor has a unique, professional insight into what makes a lender a professional they would entrust with their clients.
---
Ready to take that next step? Connect with us today and we will connect you to our preferred lenders. Together, we will help you prepare for home shopping and finding your new home!
Meet Resident Realty
Since we opened our doors in 2002, the goal has been to provide the best value to each and every one of Resident Realty's clients and customers. Value can be measured in many different ways but ultimately, it comes down to five pillars: Expertise, Work Ethic, Service, Cost, and Results. By always striving to offer the best value in the Austin market, Resident Realty and its Brokers and Realtors have been awarded multiple Austin Business Journal and Texas Monthly Five Star Professional Awards in the past decade.
Contact Resident Realty today for your Austin area real estate needs.<br />(512) 899-8309 | <a href="mailto:austininfo@residentrealty.com">austininfo@residentrealty.com</a>2019-08-01T18:18:00-07:002019-11-03T06:01:26-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6301How to Build Your Credit History from ScratchBuilding a solid credit history is essential if you ever plan to buy a house. How long does it take to build your credit history from scratch? As it turns out; if you do it right, it can take as little as six months. If done wrong, it could take several years. Here's some advice to speed-up the credit-building process so you'll be well on your way to buying your first home:<img src="https://assets.site-static.com/userfiles/1602/image/credit.JPG" width="400" height="266" alt="How to Build Your Credit History from Scratch" title="How to Build Your Credit History from Scratch" style="float: right; margin: 11px;" />
If you have no credit history, start by opening at least one credit card in your name. Then, start making purchases with that card. Once you have done this, make sure you always do the following:
Use your credit card reasonably - don't spend so much you can't make the payments
Make payments on time - or early, if possible
Think about setting up automatic payments
Try to keep your balance below 30 percent of your credit limit
Pay your credit statement in full each month
Making a couple of payments on time is great, but years of on-time payments is even more important. The longer you show good behavior, the higher your credit score will climb.
Now that you’ve started building a credit history, you may be wondering what credit score you need to qualify for a mortgage. While this can differ from one mortgage lender to another, many will accept a fair credit score. What are the credit score ranges? Here’s a look:
Bad: 550 and below
Poor: 550 to 649
Fair: 650 to 699
Good: 700 to 759
Excellent: 760 and above
It is important to note that even though you may qualify for a mortgage with a fair credit score, you will not qualify for the best mortgage available – in terms of interest rate. In general; the higher your credit score, the lower your interest rate.
Do you have questions about building your credit? Curious if your current credit score qualifies for a mortgage? Contact our team today! We would be happy to set you up with a trusted mortgage professional in the Austin-area. 2019-07-22T18:14:00-07:002019-11-03T06:18:48-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6276Are You Thinking About Buying a Home in Barton Creek?<a href="https://www.residentrealtyaustin.com/barton-creek-homes-for-sale/"><img src="https://assets.site-static.com/userfiles/1602/image/1829645-residential-12fi6p4-l_1024.jpg" width="350" height="232" alt="Are You Thinking About Buying a Home in Barton Creek?" title="Are You Thinking About Buying a Home in Barton Creek?" style="float: right; margin: 11px;" />Barton Creek</a> is one of the most upscale communities located in Austin, Texas, and it has a lot to offer to those who are looking for a fantastic opportunity to call home. This high demand area is not easy to buy into though. There are several factors to consider when looking in Barton Creek, and working with a local expert will make it possible to find and purchase your Austin dream home at a reasonable price.
What Does Barton Creek Have to Offer?
Barton Creek has plenty to offer today’s more affluent buyer that wants a lot of space and yet desires to be close to all that Austin itself has to offer. The community is a short drive away from Austin itself. It sits on about 5.4 square miles of wooded, hilly country, bursting with natural beauty that is sure to appease any lover of the outdoors. It is known for the Barton Creek Resort and Club, which offers visitors a wide range of amenities, and plenty of attractive features for members. Beyond the area's landscape and amenities, Barton Creek is very private, and can give you more of the highest quality of life you are looking for.
The homes here range quite a bit in size, type, and price. You will find many are garden homes, with a lot of Mediterranean influence. You are sure to find these homes stunning, which often look much more like exotic villas than traditional American homes.
Once again, it can prove to be difficult to find a Barton Creek home in Austin without the help of a local real estate agent that knows the region well. However, if you are looking for golf course living at its best, you do want to have access to all of the homes for sale in Barton Creek and the surrounding region. They are well worth investing in for many of today’s buyers. Contact Todd Sherman today to learn more about Barton Creek, and to get started on the search of your Austin dream home.2019-07-12T16:52:00-07:002019-11-03T06:02:28-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6312Enjoy the City with a Pet of Your OwnAustin is known to many as one of the cities that welcomes everyone with open arms, people and pets alike. In fact, it’s one of the no-kill cities, and it’s been that way since 2010. Everywhere you look, you’re bound to see people walking their dogs, taking them to bars, and including their pets in their weekend plans. <img src="https://assets.site-static.com/userfiles/1602/image/Resident_Realty_Enjoy_the_City_with_a_Pet_of_Your_Own_Austin_TX.jpg" width="400" height="250" alt="Enjoy the City with a Pet of Your Own" title="Enjoy the City with a Pet of Your Own" style="float: right; margin: 11px;" />
If there’s any place that can only be made better with a four-legged friend, Austin would be it. So, if you’re thinking about bringing a new best friend into your home and your heart, we have a list of places you should check out!
Austin Dog Rescue has been around since 2006, and they are doing everything they can to not only keep dogs off the street but give them a comfortable and wonderful life while they find their forever home. By that, we mean that dogs of all sizes and breeds get to be a part of a foster home and get acclimated to what it’s like to be a part of a family before they get adopted.
Austin Pets Alive! may be the most well-known no-kill shelter around Austin. Thousands of dogs and cats have been saved in the 10+ years since they’ve established themselves in the Central Texas area.
Austin Humane Society has been the saving grace to many homeless dogs and cats and remains to be the largest nonprofit shelter and pet adoption center in the Central Texas area. This shelter is also dedicated to educating the people of Austin on animal care and the best way to adopt your new best friend.
Forgotten Friends saves mixed breed dogs and allows their foster volunteers to take them home to work on their training and make sure they’re ready for their new home!
Street Cat Rescue is the perfect spot to find the cat to complete your family. This cat sanctuary helps sick and injured cats, educates the community on the love and care cats need, and ultimately, helps adopters find the right cat to take home.
There are so many great animals that need forever homes and a variety of nonprofits and shelters doing everything they can to help. Be sure to check them out! If you’re looking for a forever home before you adopt a new pet, give our team a call. We’re here to make sure that you, your family, and your pets have a home that will make you all happy for years to come.2019-07-02T18:39:00-07:002019-11-03T06:11:52-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:62976 Down Payment Myths DebunkedAsking for advice from those who have bought a home in the past is common among potential homebuyers. However, it can often lead to many misconceptions. As a homebuyer, it is important to determine for yourself what is fact and what is fiction. Since the down payment is often one of the most misunderstood aspects of the home buying process, here’s a look at six down payment myths debunked:<img src="https://assets.site-static.com/userfiles/1602/image/down.JPG" width="400" height="268" alt="6 Down Payment Myths Debunked" title="6 Down Payment Myths Debunked" style="float: right; margin: 11px;" />
Myth #1: You must put 20 percent down<br />This is likely the most common misconception about buying a home. While it is recommended to put 20 percent down, it isn't necessary. In fact, if you are a qualified buyer, you can get approved for a conventional loan with less than 20 percent down. However, you are stuck paying private mortgage insurance (PMI), a fee paid directly to your lender that says you won’t default on the loan.<br /><br />There are additional options depending on your situation. For example, a Federal Housing Administration (FHA) loan can get you into a home for a down payment as low as 3.5 percent. Or, if you served in the military, you are likely eligible for a Veterans Affairs (VA) loan which may approve you for zero percent down.
Myth #2: Paying mortgage insurance is smarter than paying a larger down payment<br />Private mortgage insurance may seem like a good alternative to depleting your bank account. But, the truth is, that value can add up significantly over the long run. With a conventional loan, if you put down less than 20 percent, you will pay PMI until the principal balance reaches 78% or less of the original purchase price. Meanwhile, with an FHA loan, you will have to pay mortgage insurance for the life of the loan. When you do the math, paying more up front usually winds up being the better option.
Myth #3: Cash is king<br />While a cash option may seem appealing, the only benefit it provides a seller is the guarantee to close on time with no loan approval problems. Even with this benefit, a bigger offer will likely stand a better chance than an all-cash offer – especially if you have a pre-approval letter from your lender in hand.
Myth #4: Down payment assistance is easy to obtain
Down payment assistance is an option, but it is in no way easy. First off, as these assistance programs are locally run, they are usually hard to locate. On top of that, there is the fact that you have to be under a certain income level to qualify – usually somewhere around the median income in the county. If you find the right program, they may make an exception – for single parents. But, in all reality, the income qualification is a big factor.<br /><br />However, if you think you may qualify, call your local housing authority office. It’s always worth a try.
Myth #5: You shouldn’t put more than 20 percent down
If you have more than 20 percent available, use it. The more money you put down, the more your interest rate will drop. But, make sure the amount you put down is feasible.
Myth #6: You can take out a loan for a down payment
In truth, you can receive help with your down payment. However, there is one caveat: it has to be a gift. Meaning, you need to have a letter from the gifters swearing they don’t plan on ever asking for the money back.
Do you have additional questions about down payments or applying for a loan? Give us a call. If we can’t answer your questions, we will pass them along to a trusted lender in the Austin area.2019-06-28T18:01:00-07:002019-11-03T06:20:38-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6295Outside is the New Inside: 6 Design Trends to Transform Your Outdoor SpaceAs the days get longer and the temperatures warm, there is no better place to gather for a backyard barbecue or relax with a glass of wine and thrilling novel than your backyard. For an out-of-this-world outdoor space that your friends and family will envy, consider redesigning your backyard with this year’s hottest design trends: <img src="https://assets.site-static.com/userfiles/1602/image/outside.JPG" width="400" height="270" alt="Outside is the New Inside: 6 Design Trends to Transform Your Outdoor Space" title="Outside is the New Inside: 6 Design Trends to Transform Your Outdoor Space" style="float: right; margin: 11px;" />
Outdoor ‘rooms’
Creating an indoor-like living space outside is the most desirable trend of the year. You can accomplish this look by framing sitting areas with curtains, incorporating rugs and planting low-maintenance ornamental grasses to create a cohesive space. To transform your covered patio, add wood planks to the ceiling and sconces. These new additions will create a warm and relaxing atmosphere you won’t want to leave.
Innovative new fabrics
While Sunbrella has been the option of choice for years, it turns out it isn't the only option. Other great fabrics include polyester terrycloth (a towel appearance), indoor-outdoor wovens (from designer Peter Dunham) and performance velvet (from Holly Hunt). If you’re not interested in spending money on new furniture or cushions, simply spray Neverwet, a moisture-repelling barrier, on your surfaces.
True-blue (and green) hues
Dark azure blues and deep greens are the colors of the year - especially outside. Look for them to appear in cushions, umbrellas, tiles, pillows, rugs and more! Not only are these colors luxurious, but they also calming.
Concrete
Concrete, cheap, durable and easy to maintain, is extremely popular right now - inside and out. Consider incorporating a concrete patio, table, bench, planter or fire pit into your outdoor space. Or for a really bold look, build a concrete fireplace.
Vertical gardens
Attach clay pots with steel cable ties to a wood pallet and hang it on the wall. Vertical gardens create a living piece of art and a great place to display herbs and flowers.
Bold lighting
Lighting creates atmosphere - it’s as simple as that. To brighten up your outdoor space, add recess lighting to your covered patio, lanterns along the pathway and spotlights to your garden beds. A well-lit garden is safe and attractive.
These design trends will transform your outdoor living space into an entertainer’s dream just in time for summer!
Have questions? We are always available to help. Contact our team anytime.2019-06-20T17:57:00-07:002019-11-03T06:26:01-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6291How to Sell A House To An Indecisive MillennialHalf of the current home buyers searching the market today are under the age of 36. Homebuyers in the millennial age group (18 – 34) make up 42% of all home buyers. Understanding this new generation of buyers is crucial for real estate agents to make connections and be successful at pairing clients up with the right property.<img src="https://assets.site-static.com/userfiles/1602/image/Circle3.jpg" width="400" height="259" alt="How to Sell A House To An Indecisive Millennial" title="How to Sell A House To An Indecisive Millennial" style="float: right; margin: 11px;" />
Rent Longer, Buy Higher
Zillow released a study of 13,000 homeowners, buyers, and sellers. Statistics show that millennials tend to wait longer than previous generations before making an investment in a home, and Zillow’s research confirms that with two-thirds of millennial house hunters consider sticking with renting at some point during the home buying process.
While Baby Boomers settled for the American Dream in a starter home, today’s 30-somethings shell out $217,000 as a median home price. The generation after that will spend even more, the study suggests, with those from Generation X spending 11% more than millennials on a home. The key take-a-way: today’s homebuyers aren’t getting any more house for the money, with the median millennial home sizing out to roughly 1,800 square feet.
Diversity
The new generation of home buyers also shows greater diversity than all other homeowners.
66% are white
17% are Latino or Hispanic
10% are black
7% are Asian or Pacific Islander
There’s far less diversity among other (non-millennial) homeowners:
77% are white
9% are Latino or Hispanic
9% are black
5% are Asian or Pacific Islander
Community Amenities
About one-fourth of 30-something home buyers seek out large, urban regions, with more than half looking for desirable shared amenities. With 54% of the generation’s house hunters looking for communal conveniences, realtors may trend toward condominium communities with luxury amenities.
Savvy Digital Presence
Realtors have to have a strong digital marketing reach to attract house hunting millennials, as 90% of the group will utilize an online source during the home buying process. Zillow reports 25% of the home buyers will use at least five different digital platforms to find the right home, and two-thirds will evaluate their finances with affordability tools to judge mortgage options.
If you want to keep a steady stream of millennial clients, as a realtor you better have a good reputation online. Millennials aren’t afraid to shop around for the realtor that best fits their needs – contacting at least two agents when buying a home and three when selling. The best way to gain a 30-something client is to ask previous clients for good reviews. Six out of every 10 millennial homebuyers read online reviews about a realtor before agreeing to work with them. If you need to talk to your millennial client, most prefer to speak on the phone.
30% of millennials prefer to talk to their agent on the phone
24% of millennials prefer to talk to their agent in person
18% of millennials prefer to talk to their agent via text
If all works out well for the sell or purchase of a property, you’re in luck – millennials are more likely than any other home buying group to stay in touch after the sell – recommending your services to friends and family members looking for a new home. With the cutting edge agent resources at Resident Realty, you’ll have all the tools you need to attract and retain this new market of millennial buyers.2019-06-17T17:42:00-07:002019-11-03T06:09:46-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:62819 Home Issues That Could Cause a Home Sale To Fall ThroughThere are a lot of things to do before listing your home for sale in the Austin, TX, area. While some things are more obvious, deep cleaning the house, increasing its curb appeal, and minor repairs and upgrades; some issues may be less obvious and could turn off potential buyers. What issues scare off buyers? Here are nine issues that could cause a home sale to fall through:
Leaky or Old Roof<img src="https://assets.site-static.com/userfiles/1602/image/depositphotos_16970155_l-2015_2000.jpg" width="400" height="267" alt="9 Home Issues That Could Cause a Home Sale To Fall Through" title="9 Home Issues That Could Cause a Home Sale To Fall Through" style="float: right; margin: 11px;" />
According to the National Roof Certification and Inspection Association, roof problems account for 39 percent of homeowner insurance claims. If your roof is reaching the end of its lifespan (20-25 years), consider having the shingles replaced. In general, potential buyers don't like to see that they might have to replace the roof, a big-ticket repair, a couple of years into buying the home.
Damaged Gutters
If you haven’t routinely cleaned out your gutters, it may be a good time to start. It turns out; damaged gutters can result in water damage to your home's siding, foundation, windows, and doors.
Creaky Doors and Windows
Expect buyers to test doors and windows during an open house or home showing. Buyers like to see that you have taken care of the home, and this includes the windows and doors. Before listing your home, oil the door hinges and make sure the windows are not jammed. If you’re up for a larger investment, with the potential to bring a 50 to 80 percent return, consider replacing the windows.
Outdated Appliances
Consider replacing outdated appliances throughout your home. They don’t necessarily need to be stainless steel, but they shouldn’t look like they are from the 80s. Also, note in your seller’s disclosure which appliances, if any, you will take with you.
Old Heating and Air Conditioning System
An HVAC system can last more than 25 years if it has been well-maintained. If yours is reaching the end of its lifespan, consider getting it replaced before placing your home on the market. Replacing it while your home is on the market can be rather pricey.
Termites
Termites in your home can be a major deal breaker to potential buyers, and it is required that you disclose this information to them before the conclusion of the sale. To protect yourself and ease the mind of potential buyers, add termite warranty to your home.
Cracks in Foundation
Fix structural problems before listing your home. Cracks in the foundation can signal larger problems, problems that a potential buyer doesn’t want to see when considering buying your home.
Radon
Radon is typically found in the basement or lower levels of the home. It is a naturally occurring, carcinogenic, radioactive gas that forms from the breakdown of uranium. According to Trulia, Radon is the No. 2 cause of lung cancer, with smoking as the number one. Get your home checked for radon before placing it on the market. And, if radon is present in your home, eradicate it before putting it on the market.
High Listing Price
Price your home to sell. A high listing price turns off potential buyers and could cause your home to stay on the market longer than expected. The longer your home is on the market, the less money you will receive from potential buyers.
In short, if your home has any of the issues listed above make sure they are repaired before your home hits the market. You don't want these matters to scare off potential buyers!
If you need help with any of these repairs, give me a call. I would be happy to send you a list trusted maintenance specialists in the area!
Resources:
<a href="https://www.trulia.com/blog/home-sales-fall-through-scare-off-buyers/" target="_blank" rel="noopener noreferrer">https://www.trulia.com/blog/home-sales-fall-through-scare-off-buyers/</a>2019-06-10T17:13:00-07:002019-11-03T06:24:27-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6277Austin’s Craft Brewery Scene | Austin TexasCraft breweries are emerging all around the United States. According to the Brewers Association, craft beer sales grew 12.8 percent in 2015, and make up 12.2 percent of all beer sales in the United States. However, while the craft beer scene is growing nationwide, it hasn’t grown at the same rate in every U.S. city. But, lucky for us, Austin has a fantastic craft brewery scene!
So, what’s the scoop on Austin’s craft brewery scene? The craft beer trend has completely taken over the Austin area, with new locations opening every year all around the city. Exploring is the fun part – so, we’ve put together a list of Austin craft breweries, organized by location. These aren’t all the craft breweries in the Austin area, but it’s a great starting point for those looking for a weekend craft beer crawl:
<img src="https://assets.site-static.com/userfiles/1602/image/craft_beer_flyer_-_todd_sherman_2750.jpg" width="800" height="926" alt="Austin’s Craft Brewery Scene" title="Austin’s Craft Brewery Scene" style="margin: 11px;" />
Austin's Craft Beer Scene
Central
Hops & Grain Brewing - 507 Calles Street
Zilker Brewing Company - 1701 E 6th Street
Live Oak Brewery - 3301 E 5th Street
South
Independence Brewery - 3913 Todd LANE, SUITE #607
(512) Brewing Company - 407 Radam LANE, Suite F200
South Austin Brewery - 415 East Saint Elmo Road
North
Austin Beerworks - 3009 Industrial Terrace
Infamous Brewing Company - 4602 Weletka Drive, SUITE #200-300
Circle Brewing Company - 2340 W Braker Lane
Oasis Texas Brewing Company - 6550 Comanche Trail, Suite 301
West
The Thirsty Planet Brewery - 11160 Circle Drive
Jester King Brewery - 13005 Fitzhugh Road
Twisted X Brewing Co. - 23455 W RR 150
Real Ale Brewing Company - 231 San Saba Court
Do you have a favorite Austin craft brewery that didn’t make the list? Let us know. We would love to add it to our list.
As longtime Austin residents, we have the knowledge and experience to answer any questions you may have about the Austin area. Give us a call anytime.
Resources:
https://www.brewersassociation.org/press-releases/small-independent-brewers-continue-grow-double-digits/2019-06-01T16:56:00-07:002019-11-03T06:09:00-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6282Avoid Costly Kitchen Remodel Mistakes<img src="https://assets.site-static.com/userfiles/1602/image/011_Kitchen_2_zpsraymgjve.jpg" width="400" height="300" alt="Avoid Costly Kitchen Remodel Mistakes" title="Avoid Costly Kitchen Remodel Mistakes" style="float: right; margin: 11px;" />Remodeling your kitchen can be one of the best investments you can make…if done right! You will not only increase the enjoyment of your home, but increase your home value as well...if done right! Don’t be afraid to get the advice of a good interior design expert! I highly recommend Robin Bond with <a href="http://www.robinbondinteriors.com/" target="_blank" rel="noopener noreferrer">Robin Bond Interiors</a> for design. I recommend both Ethan Hyams with <a href="https://www.facebook.com/search/top/?q=hyams%20homebuilding" target="_blank" rel="noopener noreferrer">Hyams Home Building</a> and Brent Helton with <a href="http://www.heltonremodelingaustintx.com/" target="_blank" rel="noopener noreferrer">Helton Remodeling Services</a> as contractors. Both do excellent work! The kitchen is one area of the home that sees the most wear and tear. All the water, heat, and food spills add up quickly so it’s important to focus on quality and lasting appeal when you’re choosing materials for a kitchen remodel. Here are a few things you should avoid:
Cheap Laminate Counter tops: The bottom rung of laminate is extremely susceptible to wear and tear. It can melt if you forget to place a hot pad under a pan that’s fresh out of the oven and the edges can chip off from repeated exposure to moisture and heat. Granite, silestone and quartz are all excellent choices.
<img src="https://assets.site-static.com/userfiles/1602/image/brentheltonkitchen_zpsghccvwrg.jpg" width="350" height="263" alt="Avoid Costly Kitchen Remodel Mistakes" title="Avoid Costly Kitchen Remodel Mistakes" style="float: left; margin: 11px;" />Flat Paint: A flat or matte finish is great in rooms with lower traffic, but it’s a bad idea in the kitchen where the walls are regularly exposed to splatters and spills. You need paint that can withstand an occasional heavy scrubbing, so opt for gloss or semi-gloss finishes.
Trendy Back splash: If you watch any home remodeling show, you’ll certainly see kitchens with expensive, elaborate back splash designs and materials. Those trends can be pricey to pursue and, if you're not careful, can look dated in a hurry. Subway tile is a cheaper, classic option that you’ll never regret. Don't be afraid of more colorful options and materials, just stay away from loud colors and too "busy" designs.<img src="https://assets.site-static.com/userfiles/1602/image/robinbondinteriors_zpsawdjwhs7.jpg" width="333" height="222" alt="Avoid Costly Kitchen Remodel Mistakes" title="Avoid Costly Kitchen Remodel Mistakes" style="float: right; margin: 11px;" />
Cheap Flooring: Just like the counter tops, your kitchen floor needs to be strong enough to take some abuse. Cheap flooring easily scuffs and peels (especially from moisture). Quality flooring is worth the investment. I prefer hard tile in the kitchen and other wet areas of the home. If you enjoy the look of hard wood, there are several nice options on the market for hard tile, that has the look of hard wood!
Make sure your kitchen remodel "flows" well with the rooms you can see from within the kitchen and vice versa. You don't want an extreme contemporary look in the kitchen to clash with an extreme country look in the living or dining area.
Below are some pictures of nice kitchen remodels. The first was designed by Robin Bond of <a href="http://www.robinbondinteriors.com/" target="_blank" rel="noopener noreferrer">Robin Bond Interiors</a>, the second designed and done by Ethan Hyams of <a href="https://www.facebook.com/search/top/?q=hyams%20homebuilding" target="_blank" rel="noopener noreferrer">Hyams Home Building</a> and the third done by Brent Helton with <a href="http://www.heltonremodelingaustintx.com/" target="_blank" rel="noopener noreferrer">Helton Remodeling Services</a>.
If you're unsure of your choices when doing your remodel, I'm happy to give you my professional opinion or as I mentioned earlier in this article, Robin Bond with Robin Bond Interiors has an amazing eye for design!2019-05-27T17:15:00-07:002019-11-03T06:14:25-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:62985 Tips For Downsizing This SummerDeciding to sell your home can be a stressful choice, but the process of how to downsize can be easier than you think if you get organized. The overwhelming feeling of what will make the move to the new home or condo in Austin, TX and what will be eliminated can be calmed with a few steps. Start by taking inventory of everything you’ve accumulated over the years and end with a smaller, more organized space where you can begin a new chapter in your life.<img src="https://assets.site-static.com/userfiles/1602/image/adult_children_buying_home.jpg" width="400" height="600" alt="5 Tips For Downsizing This Summer" title="5 Tips For Downsizing This Summer" style="float: right; margin: 11px;" />
Take Inventory of your Life
Take a close look at your life and the things you have in it. What household items do you actually use on a regular basis, and which are collecting dust? If you have a gym membership or a workout space in your office building and the treadmill in the garage is more of an expensive clothes hanger, it’s time to move it out. From clothes to small kitchen appliances, there are items you use daily, and they will clearly make it into the “keep” pile, but everything else needs to be divvied into a donation, sell, or waste pile.
Sort Your Items
As you go through your each room in your home, make sure each thing clearly fits into one of four categories:
Keep
Donate
Sell
Trash
Moving into a smaller space means you’ll take less with you, so if something doesn’t immediately make the keep pile, it needs to go. Create a sell pile for a garage sale before your move or take the items by a second hand shop to be purchased. There should also be a pile for donations – GoodWill, community shelter, or place of worship—and for the old, broken, or beyond their years items, it’s time for the trash.
Storage Space First
The attic, storage closets, or basement should be the first places to clear out. These spaces often hold items that we haven’t used – maybe even seen – in years. A good rule is to get rid of anything you haven’t used or worn in the past year. The boxes you’ve been hauling during any move over the years need to be cleared out. Don’t pack something away knowing you’ll never use it in your new home.
Stay Dedicated
Downsizing a home is no small task, so don’t wait until the last minute before your move to lighten your load. Begin weeks in advance, so you can take one room at a time and won’t become overwhelmed with the process. When you’re trying to rush through your items, you may be tempted to discard things you’ll actually need once you make the move. Finish your storage spaces then move to individual rooms in your home. If your move is close enough, you could use this time to begin packing boxes with the things you want to keep.
Take Measurements
If you’re living in a large family home in Austin, TX, measure your new space and then your furniture. Ensure that none of your pieces are too large for the desired room. It may be necessary to eliminate a piece or downsize to smaller pieces so your new home isn’t packed with oversized furniture.
Remember to give yourself plenty of time, be honest when it comes to how often you use or wear something, and if you’re unsure, put it in the donate box. Use this move as a way to cleanse the old from your cabinets and closets and enjoy the downsizing process.2019-05-22T18:03:00-07:002019-11-03T06:19:56-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6284How Much House Can You Actually Afford?Before beginning the home search, it is important to determine how much you can actually afford to spend on a home in Austin, TX. Just because your lender approves you for a loan, doesn’t mean it is a good fit. While there are online calculator tools to determine how much you can afford – they aren’t always an accurate representation of your personal financial situation. If you can’t trust these online calculator tools, how do you determine how much house you can actually afford? Let’s walk through the details together:<img src="https://assets.site-static.com/userfiles/1602/image/42516629_1200.jpg" width="400" height="300" alt="How Much House Can You Actually Afford?" title="How Much House Can You Actually Afford?" style="float: right; margin: 11px;" />
Financial Rules May Not Apply to Your Personal Situation
Have you ever heard the sage advice, "your mortgage payment shouldn't take up more than 35 percent of your monthly income?" What is your monthly income? If you aren't sure what your monthly income is, how can you determine what 35 percent of that number is? While monthly income seems like a straightforward number, it isn't! The truth is, your monthly income depends entirely on your financial situation. Are you paying off debt? What monthly payment obligations do you have? How much have you saved for a down payment? Your real monthly income is the amount you have available after you take into account loan payments, housing costs, and other monthly debt obligations. In other words, it is the amount you have left after you pay your daily living expenses.
An online mortgage calculator can give you a rough estimate of how much home you can afford if you have high credit scores and a clean financial background. However, these tools are only as accurate as the information you provide. To ensure an accurate estimate, make sure you are honest about daily living expenses (food, gas, etc.), debt, and income.
Your Lender May Overestimate What You Can Actually Afford
To approve a new mortgage, a lender must determine how much you can "reasonably afford" to repay. Now, keep in mind that “reasonably” is an entirely different word than actually. To determine a reasonable mortgage, your lender takes into account your income and any current debts you pay each month. Here’s an example: If you make $4,000 a month after taxes and need to pay $200 to your student loan each month, your lender may conclude that you can reasonably afford a mortgage of $1,500. However, these are the only two things they take into account. In this situation, you would have $2,300 to spend on daily living expenses. Which, depending on where you live, may be reasonable. But what are your financial goals? Do you want to start saving? If you spend too much of your monthly income on a mortgage, you may be strapped for cash and find yourself counting pennies every month. Just because your lender says you can reasonably afford that mortgage, doesn't mean you should automatically assume you can.
Only YOU know what you can ACTUALLY afford – AND, what feels RIGHT to YOU
You are the only one that can determine what is comfortable when it comes to your monthly budget. Before committing to a monthly mortgage number, determine what number fits in YOUR personal budget. If you don't have a budget, make one! From there, determine what number is a comfortable fit for you and your lifestyle. Decide what you can live with and what you can live without. And, don't forget your long-term financial plans!
Here are a couple of questions to help you determine what you can afford:
What is my income? What are my daily living expenses (food, electric, gas, etc.)? What are my fixed costs (rent, loan payments, etc.)?
What are my long-term financial goals? How much do I want to save or invest each month?
How much will it cost to maintain a home?
How much do I have saved for a down payment?
Keep in mind; the higher your down payment, the smaller your monthly mortgage. It may be smart to hold off on purchasing a home until you have more money saved up for a down payment.
Always consider YOUR financial situation before rushing into purchasing a home. Your financial goals and lifestyle determine what you can ACTUALLY afford!
Do you have any questions? We want to help you get more from your move; give us a call anytime.2019-05-20T17:19:00-07:002019-11-03T06:08:22-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6283Southwest Austin Swimming Holes to Cool Off In This SummerSummer has hit the Austin area – and this summer looks to be a real scorcher. If you want to enjoy your summer outside, lakes and pools are the perfect options to cool off in the scorching heat! Living in the Southwest Austin area for several years, we have the knowledge and experience to point you in the right direction. Here are some of the most popular Austin swimming holes, plus the best neighborhood pools and splash pads in the Southwest Austin area:<img src="https://assets.site-static.com/userfiles/1602/image/depositphotos_110705332_l-2015_2000.jpg" width="400" height="267" alt="Southwest Austin Swimming Holes to Cool Off In This Summer" title="Southwest Austin Swimming Holes to Cool Off In This Summer" style="float: right; margin: 11px;" />
Popular Austin Swimming Holes
<a href="http://www.austintexas.gov/department/deep-eddy-pool" target="_blank" rel="noopener noreferrer">Deep Eddy Pool</a>
The Deep Eddy Pool is the oldest and most historic swimming pool in Texas featuring a bathhouse built during the Depression era by the Works Progress Administration. The site, located on the Colorado River, was originally used as a swimming hole, because of the cold springs that rose from the river banks, became a resort, featuring a bathhouse, in the 1920s, and is now a popular swimming pool owned by the City of Austin. The shallow end, cool water, and massive cottonwood trees make this spot a family favorite! A small fee is required for admittance to the pool. Click here for more information.
Location: 401 Deep Eddy Ave., Austin, TX 78703
<a href="http://www.austintexas.gov/department/barton-springs-pool" target="_blank" rel="noopener noreferrer">Barton Springs Pool</a>
Three acres in size, Barton Springs Pool is fed from underground water and is a refreshing 68 degrees year-round (on average). With the beautiful trees, cold and clear water, and diving board, this is certainly a favorite among Austinites! Bring a mask and snorkel to explore all the fish life. Moss makes the bottom a bit slippery for young children and non-swimmers. Note nominal charge for admittance.
Location: Located in Zilker Park, 2201 Barton Springs, Austin, TX 78704
<a href="https://parks.traviscountytx.gov/find-a-park/hamilton-pool" target="_blank" rel="noopener noreferrer">Hamilton Pool</a>
Formed by thousands of years of water erosion, Hamilton Pool is one of the most unique swimming and hiking destinations in the Austin area. Hamilton Pool is located 23 miles west of Austin and features a 50-foot waterfall, picnic tables, hiking trails, and restrooms. Reservations are now required to enter Hamilton Pool from May 1, 2017, to September 30, 2017 – click here to reserve your entrance to the pool.
Location: 24300 Hamilton Pool Rd., Dripping Springs, TX 78620
<a href="https://austintexas.gov/page/lady-bird-lake" target="_blank" rel="noopener noreferrer">Lady Bird Lake</a>
Running directly through downtown Austin, Lady Bird Lake is an outdoor haven for all walks of Austin residents. Austinites love to use the 10-mile trail around the lake to get their daily exercise. In the summer months, rent kayaks, canoes, or paddle boards to enjoy life on the lake with unbeatable views of the Austin skyline.
South Austin Neighborhood Pools and Splash Pads
Neighborhood Pools
Big Stacy
700 E. Live Oak Street
Dick Nichols
8011 Beckett Rd.
Dittmar
1009 W. Dittmar Dr.
Dove Springs
5701 Ainez Dr.
Gillis
2504 S. Durwood Ave.
Splash Pads/Wading Pools
Liz Carpenter Splash Pad
1000 Barton Springs Rd.
Ricky Guerrero Splash Pad
1100 Brodie Street
Stacy Wading (Little Stacy)
2000 Alameda Dr.
West Austin Neighborhood Pools and Splash Pads
Neighborhood Pools
Ramsey
4201 Burnet Rd.
Reed
2600 Pecos Street
Shipe
4400 Ave. G
West Austin
1317 W. 10th Street
Westenfield
2000 Enfield Road
Splash Pads/Wading Pools
Clarksville Splash Pad
1811 W. 11th Street
Eastwood's Splash Pad
3001 Harris Park Blvd.
Pease Splash Pad
1600 Parkway at Kingsbury
Shipe Wading
4400 Ave. G
Dive into any of these locations for a crisp and refreshing Austin summer.
Do you have any questions about the Southwest Austin area? Give us a call; we would be happy to answer any questions you may have about our great community!2019-05-14T17:18:00-07:002019-11-03T06:23:46-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6285Energy Saving TipsDid you know heating and cooling account for approximately 40 percent of your home's energy expenses? In Texas, heating isn't the issue...it's cooling the house during the seemingly never-ending summer heat! How can you reduce your energy bill this summer? Even the smallest change can make a difference. Below are some of our top energy-saving tips:<img src="https://assets.site-static.com/userfiles/1602/image/depositphotos_139090504_m-2015_999.jpg" width="400" height="267" alt="Energy Saving Tips" title="Energy Saving Tips" style="float: right; margin: 11px;" />
Cover Your Windows
Shut your blinds during the day and only open them at night or early in the morning if you are looking for some natural light. If you have curtains, closing them during the day will keep the interior of your home even cooler.
Use Your Ceiling Fan
A ceiling fan is an excellent source of ventilation and helps maintain circulation throughout the home. The breeze created by the ceiling fan can make any room feel up to eight degrees cooler.
Shut Off Heat Generating Appliances
It turns out; the majority of our everyday appliances produce heat. At the very least, refrain from doing laundry and cooking anything in the oven or on the stove on extremely hot days. If you don't have another option, use the laundry room fan or hood fan to help maintain circulation.
Regulate the A/C
While going without air conditioning in Texas is impossible, there are ways to control how much energy you are using. Try moving the thermostat up a couple of degrees during the day – each degree you raise the thermostat saves seven to 10 percent on your cooling costs. If you like sleeping at a cooler temperature, you can move your thermostat down a couple of degrees at night – as at that night your air conditioner isn't working quite as hard as it is during the day.
Smart Home Thermostat
A smart thermostat may be a great investment during the never-ending heat of a Texas summer. These thermostats allow you to decrease or increase the temperature in your home remotely – and, as a bonus, some will even learn your habits and know when you are home or when you are away. A smart thermostat can save you five to 15 percent on annual heating and cooling bills, according to Energy.gov.
Free Energy Inspection
Do you know where you use the most energy? If not, consider asking your power company to conduct a free energy inspection. These professionals will tell you exactly where you are using the most energy and make recommendations on how to cut your bills.
What energy saving tips do you recommend? Send them our way – we would love to add them to our list!
Do you have any questions about the Austin area? We are here to help you get more from your move; give us a call anytime.2019-05-06T17:21:00-07:002019-11-03T06:07:41-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6286Hidden Costs of a Home RemodelA home renovation can be costly – even more so if hidden costs arise during the project. Before starting your home remodel, be aware of these hidden costs that may end up costing you more money than the project is worth:
Changing your mind<img src="https://assets.site-static.com/userfiles/1602/image/Depositphotos_8671123_m-2015.jpg" width="400" height="267" alt="Hidden Costs of a Home Remodel" title="Hidden Costs of a Home Remodel" style="margin: 11px; float: right;" />
It turns out; changing your mind is one of the largest costs of a home renovation. Did you know that approximately 95 percent of costs come from inadequate scopes of work and scope creep, also known as change orders? It’s true! How can you avoid this cost? Make sure you know what you want before you start – and don’t change your mind!
Surprise structural changes
Unplanned structural changes can increase your budget by 10 to 15 percent. To avoid a hefty cost, explore all remodel options with your contractor before you begin work.
Building standards – “up to code”
What was once “up to code,” may not be today. Always consider the current building standards when starting a remodel – and be mindful that if you discover something that is not up to code during a remodel, you have to bring it up to code - which is an added expense.
Higher utility bills
This expense is minimal – but do expect for your electric bill to increase during renovation months. The amount is entirely dependent on what you're renovating and how much electricity you're using.
Board pets
To ensure your pets are safe and out of the way, board them during the remodel. Boarding your pets may be expensive - depending on how long the remodel is going to take and the boarding rate. To save money, make plans with a family member or friend to watch your pets during the days you are renovating.
Eating out
If you’re doing a kitchen remodel, expect to eat out a lot – as your kitchen will be a construction zone!
Pest and rot damage
Unforeseen issues can come to light during a home remodel. Be aware of pests (termite damage) in the South and rot (rotting wood) in the North. If found, fixing the damage can be costly.
Your time is money
During a remodel, you will most likely need to take time off work to meet with contractors and make selections on design materials (backsplash, flooring, countertops, etc.). Can your work schedule accommodate for this? Make sure your schedule and budget can endure this time off.
Moving out/in
Do you have to vacate your home or move out belongings to make room for the renovation? Consider the costs of pods and storage units and a place to stay during the remodel. To save money, consider making arrangements to bunk with a family member or friend during the renovation.
Be proactive and consider these hidden costs before embarking on your home renovation – your sanity and bank account will thank you.
Do you have any questions about the Austin area housing landscape? We are here to help you get more from your move; contact us today! 2019-05-01T17:23:00-07:002019-11-03T06:07:02-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:6287South Austin’s Best Local Coffee ShopsDid you know drinking a cup of coffee a day could extend your life? According to two studies by the Annals of Internal Medicine, it's true! What did these two studies report? Let’s take a look at three of the key findings from the study: <img src="https://assets.site-static.com/userfiles/1602/image/Depositphotos_145612497_m-2015.jpg" width="400" height="267" alt="South Austin’s Best Local Coffee Shops" title="South Austin’s Best Local Coffee Shops" style="float: right; margin: 11px;" />
Higher coffee intake lowered the risk of death in several different races (Blacks, Japanese Americans, Latinos and Whites).
More than three cups of coffee a day reduced participant’s risk of death – especially digestive circulatory diseases.
Drinking coffee reduced a participant's risk of dying from seven of the ten leading causes of death in the U.S. (heart disease, stroke, diabetes, kidney disease, cancer and respiratory illness).
Where can you enjoy your daily cup of coffee in the greater Austin area? To support local businesses, here are South Austin’s best local coffee shops:
<a href="http://www.radiocoffeeandbeer.com">Radio Coffee & Beer</a>
4204 Manchaca Rd., Austin, TX 78704
Hours: Monday through Friday from 6:30 a.m. to 12 a.m. and Saturday and Sunday from 7:30 a.m. to 12 a.m.
<a href="http://www.woodfiredcoffee.com">Summer Moon Coffee Bar</a>
3115 S 1st Street #1b, Austin, TX 78704
Hours: Monday through Friday from 6 a.m. to 12 a.m., Saturday from 8 a.m. to 10 p.m. and Sunday from 8 a.m. to 8 p.m.
<a href="http://www.stouthauscoffee.com">Stouthaus Coffee Pub</a>
4715 S Lamar Blvd. #102, Sunset Valley, TX 78745
Hours: Monday through Friday from 6:30 a.m. to 10 p.m., Saturday from 7:30 a.m. to 10 p.m. and Sunday from 7:30 a.m. to 9 p.m.
<a href="http://www.patikacoffee.com">Patika</a>
2159 S Lamar Blvd., Austin, TX 78704
Hours: Monday through Sunday from 7 a.m. to 6 p.m.
<a href="http://www.operacafeaustin.com">Opera Café and Coffeehouse</a>
11215 S IH 35 Frontage Rd. #127, Austin, TX 78747
Hours: Monday through Friday from 7 a.m. to 6 p.m., Saturday from 8 a.m. to 6 p.m. and Sunday from 8 a.m. to 2 p.m.
<a href="http://www.cremabakerycafe.com">Crema Bakery & Café</a>
9001 Brodie Lane B3, Austin, TX 78748
Hours: Sunday through Wednesday from 7 a.m. to 5 p.m. and Thursday through Saturday from 7 a.m. to 7 p.m.
<a href="http://www.spokesmancoffee.com">Spokesman</a>
440 E. St. Elmo A-2, Austin, TX 78745
Hours: Monday through Thursday from 7 a.m. to 11 p.m., Friday and Saturday from 7 a.m. to 12 p.m. and Sunday from 8 a.m. to 10 p.m.
<a href="http://www.thirdcoastcoffee.com">Third Coast Coffee</a>
4402 S Congress Ave., Austin, TX 78745
Hours: Monday through Friday from 9 a.m. to 6 p.m. (closed Saturday and Sunday)
<a href="http://www.trianoncoffee.com">Trianon Coffee</a>
3201 Bee Cave Rd. #163, Austin, TX 78746
Hours: Monday through Friday from 6:30 a.m. to 7 p.m., Saturday from 7 a.m. to 6 p.m. and Sunday from 8 a.m. to 5 p.m
<a href="http://www.austinmocha.com">Monterey Oaks Coffee House</a>
4220 Monterey Oaks Blvd., Austin, TX 78749
Hours: Monday through Friday from 7:30 a.m. to 4 p.m. and Sunday from 8 a.m. to 12:30 p.m. (closed on Saturday
Enjoy exploring South Austin’s local coffee shops!
Do you have any real estate related questions? At Resident Realty Austin, our mission is to get you more for your move! Contact us to learn more today! 2019-04-22T17:28:00-07:002019-11-03T06:06:19-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6302Kid-friendly Staycations in AustinCheck out our top four picks for Spring Break or Summer Staycations in the Austin area! The first three are hotel/resort options and the fourth is a rustic, outdoor adventure.<img src="https://assets.site-static.com/userfiles/1602/image/austin-staycations-family-friendly.png" width="400" height="243" alt="Kid-friendly Staycations in Austin" title="Kid-friendly Staycations in Austin" style="float: right; margin: 11px;" />
Lakeway Resort and Spa: Kid-friendly amenities include sailing, boating, fishing and water activities, a Kids Zone recreation center, and a pool playground featuring with a water slide. If parents want a day off the resort offers day camps for the kids, an adult-only pool with a swim-up bar and a boutique spa. <a href="http://www.lakewayresortandspa.com/">Get more information here!</a>.
Horseshoe Bay Resort: Kid-friendly amenities overlooking Lake LBJ include: golf courses, water sports, a dining yacht, pools, mini-arcade, tropical birds, giant lawn games, and a sandy beach area perfect for all ages. Adults can also enjoy golfing, a spa, and a dining yacht experience. <a href="http://hsbresort.com/">Get more information here!</a>.
Hyatt Regency Lost Pines Resort and Spa: On 405 acres in Bastrop, kid-friendly amenities include a youth spa, horseback riding, archery, trap shooting, river recreation from kayaking to rafting, an onsite water park with a two-story water slide, beach area, lazy river, pools, hot tubs, waterfalls, and fountains. There are also day camps for kids and special events for the whole family like outdoor movies, crafts, scavenger hunts. Adults can enjoy championship golf, tennis, a fitness center, a world-class spa, For more information visit <a href="https://www.hyatt.com/en-US/hotel/texas/hyatt-regency-lost-pines-resort-and-spa/auslp">Get more information here!</a>.
Creekside Camp & Cabins: Five family-friendly cabins for rent on Hamilton Creek. Each cabin is themed and includes a fully stocked kitchenette. Kid-friendly amenities include canoes, paddle boats, creek swimming, fishing, a tree house, board games, books, and lots of nature to explore. All cabins have fire pits, BBQ grills, outdoor patio furniture, and porches. <a href="http://www.creekside-camp-cabins.com/">Get more information here!</a>.
---
Meet Resident Realty
Since we opened our doors in 2002, the goal has been to provide the best value to each and every one of Resident Realty's clients and customers. Value can be measured in many different ways but ultimately, it comes down to five pillars: Expertise, Work Ethic, Service, Cost, and Results. By always striving to offer the best value in the Austin market, Resident Realty and its Brokers and Realtors have been awarded multiple Austin Business Journal and Texas Monthly Five Star Professional Awards in the past decade.
Contact Resident Realty today for your Austin area real estate needs.<br />(512) 899-8309 | <a href="mailto:austininfo@residentrealty.com">austininfo@residentrealty.com</a>2019-04-16T18:17:00-07:002019-11-03T06:05:41-07:00Todd Shermantag:residentrealtyaustin.com,2012-09-20:6289Small Budget Remodel ProjectsA home improvement may be just the thing to increase your home’s value. However, what you can improve depends entirely on your budget. If you don’t have a big budget, but you’re looking for something new, here’s a look at some small budget remodel projects that offer an excellent bang for your buck:
Add a Sliding Barn Door<img src="https://assets.site-static.com/userfiles/1602/image/small.JPG" width="400" height="265" alt="Small Budget Remodel Projects" title="Small Budget Remodel Projects" style="float: right; margin: 11px;" />
Doors are necessary to divide one room from another. However, they can often be extremely cumbersome to a small space. If you want to separate two rooms, without chomping up square footage, add a sliding barn door. The barn door accomplishes the goal of a regular door without losing valuable space.
Refinish Your Kitchen Cabinets & Update the Hardware
Is your kitchen space outdated? Spruce it up by re-facing or refinishing your kitchen cabinets and installing new hardware. New hardware is a minimal cost and can completely transform your kitchen.
Revamp Your Kitchen Backsplash
Add a tile backsplash to your kitchen to increase its appeal. Ceramic and porcelain are the go-to options here. If you are looking to save some money, stick to ceramic.
Install Under-Cabinet Lighting in the Kitchen
Illuminate your countertops by installing under-cabinet lighting in your kitchen – the chef in your family will thank you! As the project likely requires wiring and drilling into cabinets, we recommend hiring a professional for this project.
Upgrade Storage in the Laundry Room
Add a few shelves to the laundry room to increase functionality. Open shelves are perfect as they increase storage without making a space feel too crowded.
Swap Bathroom Fixtures
Replace fixtures in your bathroom, like the toilet, faucets, and shower head, with high-efficiency versions. Not only will swapping these fixtures increase the aesthetic appeal, but they will also save you money.
Add Crown Molding in the Living Room
For a luxurious look in your living or dining room, add some crown molding. Installing crown molding in one room of your home will add a “WOW” factor without a wow price tag.
Add a Fresh Coat of Paint
A new look may be as simple as adding a fresh coat of paint! Focus the repainting effort on the most visible rooms of the home, like the entryway, kitchen, living room or dining room. Oh, and stick to a neutral color, like gray, beige, taupe or cream! A neutral color scheme will make any space appear larger.
Replace the Front Door
Are you searching for the most significant return on investment? This is your project! According to Remodeling Magazine's Cost vs. Value report, replacing your front door with a new steel door results in an 86 percent return on investment at resale. <br />
Several of these projects can be completed by the maintenance expert in your family, while some will require a professional. Would you like some contractor recommendations in the South Austin area? Give us a call! We would be happy to send you our vendor list.
Resources:
<a href="http://www.bhg.com/home-improvement/remodeling/budget-remodels/mini-but-mighty-remodels/">http://www.bhg.com/home-improvement/remodeling/budget-remodels/mini-but-mighty-remodels/</a>2019-04-12T17:36:00-07:002019-11-03T06:03:13-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:62929 Outdoor Home Maintenance Tips for Spring<img src="https://assets.site-static.com/userfiles/1602/image/outdoor.JPG" width="400" height="265" alt="9 Outdoor Home Maintenance Tips for Spring" title="9 Outdoor Home Maintenance Tips for Spring" style="float: right; margin: 11px;" />Winter can take a toll on your home. How do you know if your home withstood the harsh winter weather? By completing some regular maintenance projects. The only problem is…where should you start? Inspecting and repairing the following areas of your home will help ensure your investment stays in good shape for years to come:
Examine Roof Shingles<br />Hire a professional to inspect the roof for any lost or damaged shingles. If they find any issues, consider starting a budget for replacement. <br /><br />Probe the Wood Trim<br />Take a screwdriver and probe the trim around windows, doors and decks. Repairs should be remedied now before the spring rains come. <br /><br />Check the Gutters<br />Are your gutters loose or leaky? If so, consider repairing immediately as improper drainage can lead to water damage. Also, check to ensure the downspouts drain away from the home's foundation. <br /><br />Use Compacted Soil<br />Fill low areas in your yard or near your foundation with compacted soil. This compacted soil can prevent rain damage to the foundation in the spring months. <br /><br />Examine the Chimney<br />If your home has a chimney, examine it for signs of exterior damage. Also, call a certified chimney sweep to clean and inspect the flue. <br /><br />Inspect the Concrete<br />Cracks and signs of movement in concrete slabs should be filled with concrete crack filler or silicone caulk. <br /><br />Check Outdoor Faucets Inspect outdoor faucets for freeze damage by turning on the water and placing your thumb over the opening. A good rule of thumb: if you can stop the flow of water, your inside home pipes are likely damaged and need replacement.<br /><br />Service the AC Unit<br />In Texas, air conditioning is oh-so-important – especially in the middle of summer! Hire a qualified heating and cooling contractor to clean and service your unit. Regular maintenance will ensure your air conditioner has a healthy and long life.<br /><br />Check Power Equipment Check your lawnmower and other power equipment to make sure they are in working condition for the summer. <br /><br />Need help locating a maintenance professional? We can help. Give us a call today. 2019-03-07T18:44:00-07:002019-11-03T06:27:46-07:00Resident Realtytag:residentrealtyaustin.com,2012-09-20:630525 Ways to Refresh Your Home for SpringThe warmer weather of spring has arrived in the Austin-area. A new season brings the opportunity to refresh your home. How can you bring the season inside? These tips will have your home bright and inviting in no time:<img src="https://assets.site-static.com/userfiles/1602/image/photodune-1738316-colorful-flower-garden-xs.jpg" width="365" height="548" alt="25 Ways to Refresh Your Home for Spring" title="25 Ways to Refresh Your Home for Spring" style="float: right; margin: 11px;" />
1. First, declutter!
2. Store away winter accessories: heavy blankets, dark pillows, etc.
3. Clean interior windows, mirrors and light fixtures
4. Dust baseboards, ceiling fans, furniture, etc.
5. Steam clean carpets, polish hardwoods and sweep/mop tile floors
6. Deep clean the grout: flooring, bathroom, etc.
7. Add some fresh flowers
8. Bring the scent of the season inside by incorporating spring-scented candles or wall plug-ins
9. Update your bedding to a lighter comforter
10. Update your throw pillows to bright colors of the season: yellow, pink, green, etc.
11. Brighten the home by opening the curtains - consider switching your heavier curtains for sheer panels
12. Rearrange the living room for a fresh look
13. Add floral accents: throw pillows, a wallpaper accent wall, garden wall art, etc.
14. Add a basket/bowl of fresh fruit on the kitchen counter – lemons, apples, bananas, etc.
15. Install a new showerhead
16. Swap in a new bath mat
17. Repaint your baseboards
18. Decorate with living plants – it is said indoor plans can improve people’s moods
19. Upgrade to a smart thermostat – the upgrade can save you some money over the warm summer months
20. Hang a wreath on the front door
21. Set out a new welcome mat
22. Repaint your front door
23. Add some window boxes and plant spring flowers
24. Refresh your patio furniture with a fresh coat of outdoor paint
25. Brighten up your outdoor living space with some new lighting: lanterns, string lights, etc.
Are you refreshing your home for a spring sale? We can help with that, too. Contact us for details on how to stage your home to sell.2019-03-01T19:22:00-07:002019-11-03T05:59:23-07:00Resident Realty