The Austin market has begun to stabilize, as the latest market report from the Austin Board of REALTORS® shows. But what's the future of the Austin real estate market? Home sales in Cedar Park increased, the average home prices decreased compared to the previous month. August’s median home price was $584,491. This is almost a $30,000 decrease from July 2021’s number, but a 17% increase from...
If you’re ready to buy a home, look no further! It’ll be an exciting time taking such a significant life change. Friends and family will offer their advice, but what worked for them might not work for you and the real estate market now. Here are some common home buying myths you’ll hear that aren’t true and will cost you time and money. Home Buying Myth #1: You need 20% for a down...
Last blog post, we covered an introduction to home improvement loans, an FHA 203(K) loan, an FHA Title 1 Property Improvement Loan, and the advantages and disadvantages of each one. In this post, we’ll continue the conversation by discussing the four other options: Home Equity Loans (HEL), Home Equity Line of Credit (HELOC), Personal Loans, and Credit Cards. Types of Home Improvement Loans Home...
It’s already a hot Texas summer and summer, and the real estate market doesn’t plan to cool down! According to the National Association of REALTORS®, the median existing-home price jumped up almost 25% compared to last year for an average of $350,300. Home prices are the first challenge; the second is inventory. According to title insurer First American, 115 out of every 10,000 homes were for sale...
HomeLight released their Top Agent Insights Spring 2021 Report! Homelight polled almost 1,400 from February to March to hear their thoughts about the real estate market. Here are some key trends that are or can influence the summer 2021 housing market. 1. Seller’s market continues to intensify and spread this summer. The market is still hot everywhere, giving sellers the upper hand. In Q1 2021, 97%...
We know that Austin is growing a lot, thanks to several businesses relocating and moving to Austin. And it turns out almost half of them are from out of state! StorageCafe, a nationwide self-storage website, analyzed nearly 2 million renter applications and found the following renter trends for 2020. 2020 Renter Trend #1: Renters Prefer Urban, Not Suburban Many reports were coming out last year that...
Besides the almost constant sunshine, Texas appeals to new residents for low taxes. According to a new report, for everyone who left low-tax states in the past eight years, an average of four people moved to those same states. Nevada, Florida, South Carolina, and Texas are at the top of the low-tax states attracting new residents. Texas ranks as the eighth-lowest rate in the county. Our Lonestar state...
As we know, there’s an inventory shortage of homes, and prices are on the rise. In large part, the pandemic has contributed to this shortage, especially when paired with historically low-interest rates. One survey revealed that 55% of people said they regret taking out a mortgage during the pandemic. But you can avoid homebuyers remorse, even during this competitive market. Before purchasing, learn the...
Hot is no longer the right word to describe the Austin real estate market. Thanks to the little supply and high demand, the market is extreme, overheated, and supercharged. The lack of supply and increase in demand makes it one of the most competitive housing markets in the country. But why and how? Homebuyers have continued to move into the area. A Census Bureau report from March 2020 shows that the...
We’re sure you’ve heard this saying over and over again but, we’re going to repeat it! The housing market is insane right now! There’s a high demand for houses but little inventory, which creates a seller’s market. It works in favor of sellers and might hurt buyers, but there’s a tactic changing the real estate market. It’s called an appraisal waiver. What is an appraisal waiver? An...