Ever ridden a roller coaster at a county fair? Highs and Lows, and you're dizzy when you disembark and put your feet back on solid ground.

Sounds like the 2022 and 2023 real estate market in the Central Texas/Austin area, as well as in much of the USA.

2022 had historically low interest rates in high2% and 3% range, negligible inventory of available homes, sales at breathtaking paces for way over asking prices.   Then mid-2023 happened and the Federal Reserve Bank decided that doubling mortgage interest rates over 3rd Q 2023 would be good for the US economy to lower inflation. It also had the effect of knocking out many  buyers, who soon realized the effect that the higher interest rates would have on  their monthly mortage payment. Combine that…

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Today I attended a very positive economic lunch presentation by David Brown, EVP, with First Continental Mortgage in association with David Weekley Homes. 

So what happened in the second half of 2022?  And how is 2023 looking forward? 

Austin real estate: then and now

Buyers had “Fear of Missing Out” because of excessively low inventory mixed with historically low interest rates.  It was a buying frenzy! Then suddenly the FED started raising interest rates, calling “Inflation” “Recession,” and making buyers afraid of” Fear of Buying at the Top.” 

Remember now you have 90% of homeowners with mortgages under a 5% interest rate, and 55% under 3.5% interest rates.  Many are saying keep this investment, don’t sell such a…

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The August 2022 Real Estate Market

What A wild RIDE!  2020 and 2021 and the first half of 2022 certainly took us on a wild ride.  Exhausting and UNHEALTHY!   Let's take a brief look back:  Sellers were getting 20 offers in 3 days.  Offers were well over asking price.  Buyers were paying 50-100K over appraised values while waiving appraisal clauses. The market appreciated 37% over two years! Inventory was at a record low of a two weeks supply and builders said take a number and get in queue.  NOT HEALTHY BY ANY STANDARD!  Oh, and interest rates will never again be 2.5%.

Not to mention supply chain problems and price of LUMBER up 45% at one point!

my perspective on the market

So let me put this in perspective - in my opinion (having been in the…

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Welcome to 2022!  Several people have asked me for updated values on their asset portfolio, so it seems like a timely subject to begin the new year.

Why Request an Asset Portfolio Review Now?

2021 was an astonishing year for 30% appreciation in the real estate market, and the stock market was crazy.  Austin home values skyrocketed to the point if you bought a home or investment property in 2021 or 2020, or even earlier, you may be wondering what is happening in the market and what the current market value could be of the properties you own. 

Based on:

  • Condition,
  • Location,
  • and Prices,

it is possible to get an updated value range.  

Why Your Asset Portfolio May Need A Review in 2022


More and more companies are…

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note with the words give thanks written on it surrounded by fall leaves, thanksgiving, gratitudeThanksgiving.  Thanks and Giving.  How are you reflecting this year on both of these words?  The best of anything begins with being grateful for what you do have. 

Thanks

What blessings can you name?  Perhaps:

  • health,
  • family,
  • wealth,
  • good job,
  • new car,
  • paid off credit cards,
  • new degree,
  • new grandbaby,
  • strong friendships,
  • abiding Faith.

Reflect on that.

giving

Giving is the next part.  How are you helping people this year? Possibly:

  • coaching,
  • encouraging,
  • donating time or food to a food bank,
  • singing in a nursing home, 
  • building with Habitat for Humanity,
  • adopting a family for the holiday,
  • taking flowers or goodies to some one living alone,
  • just picking up the phone and calling…

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The word toolkit with a wrench and screwdriver

Are we all getting bored with those articles about "I JUST SOLD multiple offers over asking"?

There is a lot more to a good REALTOR®'s toolset than yard signs and a cell phone.  EDUCATION can make a huge difference in the outcome for a buyer or a seller.

This week I want to recap three online continuing education seminars I attended that will help all clients who hold title to real property.  Think of this as 3 real estate tools that your REALTOR® needs to know.

3 Real Estate Tools That Your REALTOR® Needs To Know

1. Do you know about 1031 Exchanges?  It is an Internal revenue code 1031 that is celebrating its 100th birthday this year.

It allows an investor to legally defer paying any capital gains taxes and defer depreciation recapture…

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house in bubble with question mark over it, austin housing market, is the austin housing market in a bubble

Even if you haven’t bought or sold property in the Austin area recently, you have probably heard about the wild ride that we are on currently.  To put it simply, prices are up and inventory is down.  Take a look at the latest numbers…

So, the question that so many people in the Austin area are asking is, “Is the Austin housing market in a bubble?”  That’s a valid question and the answer is definitively NO. We are NOT in a bubble.

Colin Pope of the Austin Business Journal comes to this same conclusion in his article entitled, “NOPE – Experts Agree: This Isn’t a Housing Bubble.”

What is Causing the High Real Estate Values in Austin?

Ok – so if we are not in a bubble, what exactly is causing the high real estate values in the Austin…

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Dripping Springs, Georgetown, Lakeway - Who's Next?

Good morning, Everybody! It’s Sunday afternoon and it’s really foggy in Austin this week and has been absolutely crazy.

I went to Dripping Springs yesterday. I have been up to Georgetown today. I’m going out to Lakeway; and then I’m going to come home and look at all of the multiple offers on one of my listings - all of which are super strong. They’re all over $1 million - which is not what a normal market brings.  So many people are bringing cash. 

Buyers Can Still Win in this Austin Market Too

This is a really rough time to be on the buyer side.  However, I was the winning bidder in multiple offers for some of my buyers this week!  Two of them in Northwest Hills! 

So, it can be done.…

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Recently, I listened to Eldon Rude, Principal, 360 Real Estate Analytics, discuss the 2020 market and 2021 going forward - specifically the housing market, builders, sunbelt surge, land, office market, and jobs.  I wanted my readers to have some of these insights into the 2021 Central Texas Housing Market as well.  So, here is a summary of my notes taken during his presentation.  I think you will see this Central Texas Real Estate Market is complex, so please don't hesitate to contact me.

The Central Texas Housing Market Surge

This "surge" began in mid-May 2020 and never waned.  Builders sold 20-30% MORE homes in 2020, even as labor and materials were unstable. 

Due to the pandemic, many job holders realized they could LIVE wherever they wanted,…

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TODAY THE THUNDERBIRDS WILL FLY OVER AUSTIN!  AND..

.TODAY, the National Association of REALTORS, NAR, held their 2020 legislative meetings, with a zoom slide presentation by the national  chief economist, Dr Lawrence Yun. Believe it or not, March/April looked pretty bad on the news. But Dr Yun make some very important points.

1. while many sectors in economy were down (jobs in  leisure and hospitality were 1/3 of the jobs lost), followed by education, health and retail, he pointed out that the home improvement sector rose 15% and online sales rose 10%. and although 33 MM filed for unemployment, many were first time filers who will hopefully regain their jobs this year.  He emphasized 80% of the jobs lost are temporary loss according to the…

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