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Sellers: Don’t Let These Two Things Hold You Back

By |2023-08-02T08:00:17-05:00August 2, 2023|Real Estate|

Many homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher mortgage rates and worrying they won’t be able to find something to buy while supply is so low. Let’s dive into each challenge and give you some helpful advice on how to overcome these obstacles. Challenge #1: The Reluctance to Take on a Higher Mortgage Rate According to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below): But today, the typical 30-year fixed mortgage rate offered to buyers is closer to 7%. As a result, many homeowners [...]

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What’s in Store? Decoding Mortgage Rate Trend Predictions

By |2023-12-01T12:17:32-06:00July 19, 2023|Real Estate Video|

In this brief video, I dive into the burning question everyone wants to know: "What's going to happen with mortgage rates?" While I can't predict the future, I'll share valuable insights from industry experts and tell you the advice I’m currently giving to my Austin, TX home buyers. My goal is to provide you with a clear understanding of the housing market, empowering you to make informed decisions whether you're a prospective home buyer or just curious about economic trends. If you have any questions or would like talk about real estate or your home buying and selling goals, please [...]

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Austin Residential Market Trends

By |2023-07-17T11:18:10-05:00July 17, 2023|Market Reports|

June 2023 Market Update for Austin, Texas  The Austin real estate market is sizzling, and here are the latest market trends you need to know: 1️⃣ Inventory Update: Currently, there are only 4.47 months supply of inventory in Austin. This means there is high demand and limited supply. 2️⃣ Inventory Growth: Over the last 12 months, the Months Supply of Inventory has surged by an impressive +92.67%. This indicates a rapidly evolving market. 3️⃣ List to Sold Price: The List to Sold Price percentage stands strong at 97.7%. This shows that sellers are receiving close to their asking price, giving [...]

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National Real Estate Market Update for 2023

By |2023-06-12T18:00:36-05:00June 12, 2023|Real Estate|

There’s an old adage in real estate: location, location, location. But ever since the Federal Reserve began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates. Higher rates had the immediate impact of dampening homebuyer affordability and demand. But this year, we’re seeing further repercussions. While analysts expected listing inventory to swell as sales declined, instead, homeowners have been pushing off plans to sell because they feel beholden to their existing, lower mortgage rates. So what impact is this reduced demand and low supply environment having on home values? [...]

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How to Become a Homeowner on a First-Time Buyer’s Budget

By |2023-05-04T14:38:39-05:00May 4, 2023|Real Estate|

It's not easy being a first-time homebuyer right now. At the end of last year, housing affordability hit an all-time low.1 Additionally, mortgage rates have risen significantly since 2021, while inventory remains tight for many property categories, but especially for starter homes. Even lower-priced condos are harder to snag these days, as investors and downsizers muscle out first-timers by offering stronger, often cash-heavy bids.2 In fact, according to the National Association of Realtors, only 26% of last year's homebuyers were first-timers—the lowest share on record and down from 34% a year prior. This underscores just how steep a hill new [...]

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Greater Austin Area Food Banks & Pantires

By |2023-04-27T08:04:38-05:00April 27, 2023|Local Guide|

If you're interested in giving back to our community and making a positive difference, you may want to consider donating your time and/or resources to local organizations that provide access to nutritious food and other essential items to individuals and families in need. In the greater Austin area, there are several local establishments that offer these services and rely on the support of volunteers and donations to continue their mission of serving others. By volunteering your time, you can make a real impact in the lives of those who are struggling. Whether you decide to help sort and pack food, [...]

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