Tag Archives: Austin Tx

Austin Real Estate Market Stats April 2015 v 2016: Where did Austin Increase 33%?!

Hello, hello!

It has been a while since I shared some market updates with you, so I was doing a little researching–and decided to share some interesting finds on the Austin market (for the month of April, 2016 in comparison to same time last year) as the market is really starting to stir up, school comes to an end & the busy Summer begins from home projects and vacations, to buying and selling.

Some areas have increased from last April as much as 33%, some down 5%, to find out more about which hoods, and where your next investment may need to be…read on.

“The market is hot!” Bet you haven’t heard that yet? (sarcasm).

As I am sure you have noticed: VALUES ARE UP! Taxes are up! Rents are up. Highrises are going up, and travel times are going up…and my clients who purchased only three years ago… Are movin’ on up.

jeffersons

All signs of a booming metro (according to Forbes, Jan 2016) show how much our housing market has increased–and this blog is more so about in what particular areas…

First–to understand what areas I will be referring to in the charts below-You must know the Austin MLS areas. You can choose a particular area to see the stats. I did not break them up by zip code, there are several zips in an MLS area.

Secondly, if you would like data specific to you, not listed in this blog-let me know- I can get it for you. All data comes from the Austin Board of Realtors, based on MLS data (which 99% of home sales are entered into).

Let’s look at Austin as a whole, first. All the Austin Board of Realtors area coverage (from Austin to Dripping Springs, Wimberly and Kyle to Georgetown, Taylor and Cedar Park for example):

 Greater Austin

Median

Average

 

Apr 2016

Apr 2015

% Change

Apr 2016

Apr 2015

% Change

List Price

$282,000 $269,900

+ 4.5%

$343,647 $336,725

+ 2.1%

Sold Price

$280,000 $265,000

+ 5.7%

$338,844 $330,111

+ 2.6%

Square Feet

1,958 1,957

+ 0.1%

2,132 2,141 -0.4%

LP/SF

$141 $133

+ 6.3%

$167 $160

+ 4.7%

SP/SF

$140 $131

+ 6.5%

$165 $157

+ 5.1%

SP/LP

99.7% 99.4%

+ 0.3%

99.0% 98.7%

+ 0.2%

DOM

12 11

+ 9.1%

45 44

+ 0.6%

Note above I bolded “as a whole.” Because when you are just looking at Austin in general, and not including the 5 MSAs surrounding Austin, the numbers are lower.

Now, let’s get down to the Austin core…yep DT (downtown).

skyline2

How were prices in April of this year compared to 2016? (Also note we have a few more high rises in the works to be built DT as well as more apartment complexes that are projected and just opened in the last year downtown.

                   Median Average
 DT AUSTIN Apr 2016 Apr 2015 % Change Apr 2016 Apr 2015 % Change
List Price $397,500 $434,500 - 8.5% $509,920 $682,700 - 25.3%
Sold Price $387,500 $430,000 - 9.9% $497,007 $654,846 - 24.1%
Square Feet 831 1059 - 21.6% 960 1171 - 18.0%
LP/SF $506 $450 + 12.5% $523 $543 - 3.7%
SP/SF $489 $435 + 12.2% $510 $526 - 3.0%
SP/LP 97.9% 98.0% - 0.2% 97.5% 97.4% + 0.1%
DOM 23 21 + 9.8% 42 53 - 21.3%

Yes, you did see a decrease that I highlighted on percentage changed for our average sales prices, BUT not to be alarmed-as the stats are only comparing downtown to one month vs “the big picture.” Downtown still increased year to year and the other important thing to note is that the square footage listed in April was smaller than that of April 2015, therefore it skews the numbers to look as if there was a decrease–when there is really no area in Austin that has dipped in sales values. And while all signs point to the market steadily increasing–timing could be off in comparison. For example, more people put their expensive condos on the market April 2015 v 2016, but there may be an influx of listings coming the next few months.

longcenterDTview

CHECK OUT VOLUME IN APRIL ACCORDING TO HOUSING PRICES FOR GREATER AUSTIN:

Price Range Quantity DOM Price Range Quantity DOM
$149,999 or under 207 46 $500,000- $549,999 90 48
$150,000- $199,999 424 26 $550,000- $599,999 60 53
$200,000- $249,999 517 29 $600,000- $699,999 94 73
$250,000- $299,999 425 49 $700,000- $799,999 52 56
$300,000- $349,999 312 46 $800,000- $899,999 28 41
$350,000- $399,999 260 51 $900,000- $999,999 25 53
$400,000- $449,999 176 71 $1,000,000 or over 47 67
$450,000- $499,999 138 53 Total: 2,855 45
Apr 2016 Apr 2015 % change 2016 YTD 2015 YTD
Sold Listings 2,855 2,847 +0.3% 9,527 9,244 +3.1%
Volume $967,399,611 $939,825,174 +2.9% $3,141,290,016 $2,950,183,540 +6.5%

As I mentioned above, some of the decreases I am seeing in specific central Austin areas (downtown, clarksville, west lake etc.) more so have to do with scarcity of inventory and higher prices than lack of desirability. Some of these areas take very specific buyers; for example, the average sales price in charming Clarksville is $910k!

INVENTORY 1B Apr 2016 Apr 2015 % change 2016 YTD 2015 YTD
Sold Listings 24 28 -14.3% 69 94 -26.6%
Volume $11,928,174 $18,335,700 -34.9% $45,552,206 $58,488,050 -22.1%

Let’s talk about North Austin (aka: area 2n; aka 78758, 78753). With the growth of the Domain and many tech companies moving and expanding in North Austin, it is no wonder over one year’s time the average sales price has shot up 19.5%!

Area 2N April-16
Median Average
Apr 2016 Apr 2015 % Change Apr 2016 Apr 2015 % Change
List Price $230,000 $199,900 + 15.1% $226,642 $187,470 + 20.9%
Sold Price $237,500 $206,390 + 15.1% $227,839 $190,629 + 19.5%
Square Feet 1425 1415 + 0.7% 1446 1363 + 6.1%
LP/SF $148 $131 + 12.7% $155 $135 + 14.8%
SP/SF $153 $138 + 10.8% $156 $137 + 13.8%
SP/LP 100.4% 100.7% - 0.3% 100.5% 101.3% - 0.8%
DOM 4 4 0.0% 33 10 + 229.2%

Click HERE to see the map breakout of areas. This is also the area I personally live in (what! what!) want to know more? Contact me!

domain growth

Let’s explore some more areas and evaluate home prices…read on…

When you head North east to the MLS area: NE (out toward Parmer and 290… near Samsung…and yes an old landfill) you have some new developments on the rise. If you are commuting to N. Austin, I think this can be a great buy for those who:

1. Solely want new construction (various builders and neighborhoods) at an affordable price and/or

2. As an investment–the area only has more acreage and room to grow with easy access to large companies, toll roads and highways and if staying E. not too bad of a commute into central Austin. Great for rental property or to live in, and hold.

Area NE
Median Average
Apr 2016 Apr 2015 % Change Apr 2016 Apr 2015 % Change
List Price $225,000 $192,900 + 16.6% $239,439 $199,669 + 19.9%
Sold Price $226,021 $193,900 + 16.6% $237,895 $198,490 + 19.9%
Square Feet 1739 1928 - 9.8% 1876 1939 - 3.2%
LP/SF $134 $111 + 20.7% $131 $107 + 22.4%
SP/SF $134 $109 + 22.6% $130 $107 + 21.8%
SP/LP 100.0% 100.0% 0.0% 99.6% 99.7% - 0.1%
DOM 6 5 + 20.0% 16 19 - 13.8%

Which neighborhoods and builders am I referring to exactly in NE Austin? Check out the homes in this area above: HERE. There are a lot of new neighborhoods (and some only a few years old, still growing in this area). This area mainly comprises 78754 and 78753 and extends East to Manor. Some of the neighborhoods are Bellingham Meadows. Enclave of the Springs, Walnut Creek Enclave, Stirling Bridge, Parkside at Harris Branch, Pioneer Crossing, Pioneer Crossing West. In price points ranging from the affordable starter home, $205k, only a few years old to brand new homes you can pick finishes etc. around $350k. (here’s an old blog on purchasing new construction HERE).

And how is East Austin (area 3, aka 78723) fairing in home sales? Well, there is no doubt about it, the development of Mueller has increased housing not only in the diverse and eclectic, new community (that is still developing), but the surrounding neighborhoods such as Windsor Park, The Grove, University Hills, Cherrywood and St. John’s have all seen an increase in sales due to Mueller.

There are plenty of homes built in the late 60’s, updated and renovated, but like many areas of Austin–tons of new (and not so “affordable” developments can be found…like, HERE)!

Median Average
 AREA 3 Apr 2016 Apr 2015 % Change Apr 2016 Apr 2015 % Change
List Price $375,000 $309,900 + 21.0% $371,796 $315,289 + 17.9%
Sold Price $372,500 $300,000 + 24.2% $370,279 $311,335 + 18.9%
Square Feet 1579 1508 + 4.7% 1593 1483 + 7.4%
LP/SF $244 $207 + 18.0% $238 $216 + 10.2%
SP/SF $244 $206 + 18.4% $238 $213 + 11.8%
SP/LP 100.0% 100.0% 0.0% 99.7% 98.6% + 1.1%
DOM 8 11 - 31.8% 41 43 - 4.0%

Perhaps two of the hottest Austin areas are South of the river and East of 35 (78741 and 78744).

One area in particular, {in my opinion that is undervalued and coming around–great rental investment opportunities} I have been telling many people who want to invest in is: 78744..or aka Area 11 on the map, check out what homes you can find HERE.

Median Average
Apr 2016 Apr 2015 % Change Apr 2016 Apr 2015 % Change
List Price $199,900 $190,303 + 5.0% $211,912 $174,797 + 21.2%
Sold Price $203,110 $186,393 + 9.0% $211,246 $172,907 + 22.2%
Square Feet 1313 1466 - 10.4% 1590 1545 + 2.9%
LP/SF $144 $120 + 20.0% $139 $116 + 20.2%
SP/SF $149 $120 + 25.1% $139 $114 + 21.4%
SP/LP 100.0% 99.4% + 0.5% 99.8% 99.2% + 0.6%
DOM 8 17 - 51.5% 30 59 - 48.7%

You can find everything from grandma’s house to new construction in this area, above, that’s for sure.

 

However, if you are willing to spend a bit more—and you heard the news of Oracle relocating to East Austin on 27 acres, East of DT, overlooking Lady Bird lake… then this may be the area for you, (but the cat is out of the bag on this area–as it has increased already since last year 33.2%). Holy moly…one of the largest increases of all the Austin areas. With the boardwalk completion, easy access to airport, DT, ACC campus and more, it is no wonder people are choosing to invest in this area.

Median Average
 Area 9 Apr 2016 Apr 2015 % Change Apr 2016 Apr 2015 % Change
List Price $242,450 $224,500 + 8.0% $251,058 $193,749 + 29.6%
Sold Price $242,750 $217,000 + 11.9% $253,746 $190,471 + 33.2%
Square Feet 1122 1245 - 9.9% 1233 1239 - 0.4%
LP/SF $206 $159 + 29.8% $209 $153 + 36.2%
SP/SF $206 $143 + 44.2% $210 $150 + 39.9%
SP/LP 100.0% 97.6% + 2.5% 100.4% 97.9% + 2.6%
DOM 5 20 - 75.0% 9 37 - 75.2%

 oracle campus(Artist’s drawing of Oracle campus above)

When evaluating the sold prices from April 2015 to 2016, here’s a few popular areas and if you’d like more specific info like I have above-feel free to contact me and I will send it over (it is just too much to put into one blog).

  • Round Rock East and Round Rock West had about a +4% change for April 2015 v2016 (RRW was a little less than RRE with all the growth out East of Austin, w toll roads etc)
  • Pflugerville experienced a +5.8%, average sales price under $230k, so quite affordable!
  • NW Hills and Great Hills in Austin jumped +13.5% w/ avg sales price around $544k
  • The 78745 (or area S of Ben White, N of Slaughter-ish area) is steadily increasing, +4.8%
  • 78703 (aka Clarksville or a very desirable central Austin location near DT) actually decreased -5.1%, yet the average sales price in this area for a home in April 2016: $910k
  • The UT area (78705, or campus better yet) decreased in April as well, -3.4% w/ avg sales price around $290k
  • While DT showed to be down-24.1% in Apr 2016 v 2015, it also decreased in listings volume by 36%, what does $510/sq ft buy you? Check it out…HERE.
  • Cedar Park is still growing quite a bit, with an increase of +9.7% and avg sales price at $317k where you can get on avg 2300sq ft too!
  • Northern part of Cedar Park & Leander, due to all the growth in N. Austin are at an average sales price of $280k and up +11.7% from 2015 (examples of homes/area HERE)
  • Hays County experienced the largest annual gain in home sales in April 2016, with single-family home sales jumping 17.8% year-over-year to 338 home sales.
  • Williamson County was the only county in the Austin-Round Rock MSA to experience a decline in home sales in April 2016, with single-family home sales dropping 5.1 percent year-over-year to 816 home sales.

While I didn’t touch much on affordability in this blog, it is still a large issue in our growing metro areas.

Housing affordability includes not only a home’s sale price, but the homeowner’s ability to continue to afford the home as property values rise from year to year. “The Austin Board of REALTORS® encourages homeowners to learn how their home is being appraised and all property tax exemptions they might qualify for. A Central Texas REALTOR® can help homeowners contest their assessment by identifying comparable properties and gathering the necessary background information to formulate an appeal.” -Aaron Farmer, ABOR President

Anyway, thank you for reading–I hope you found these charts helpful and if you have any questions about your specific area, market stats, neighborhood stats, school ratings, home values, etc, please do not hesitate to reach out! To read more about me and contact me click here.

Ashley Brinkman, ABR, GRI @ Realty Austin.

Adventures of Air BnBing

As some of you know, if you follow me on Insta and the like…I bought a home this year.

I had no intentions of getting a roommate really (I have lived alone for so long, there sure are a lot of perks to living solo!) But then a friend of mine was relocating down here, so I said she could stay with me until she found a new job.

Welllll, her home hasn’t sold yet (Sorry Amber!) so in the meantime I thought–hmm. I should put my house/room on Air BnB and see what happens.

airbnb logo

Well, a lot has happened, actually. And here’s my experience…In a nut shell.

nutshell

A: Aren’t you afraid of getting murdered or someone stealing your stuff??

Q: No, not really.

If you know me, I am pretty trusting aka naive-whatever adjective you prefer. I approve who stays by seeing their profile photo, their reviews from other hosts, how long they have been a member and how many verifications they have. They pay a $500 deposit (this can be altered based on the reservation) if something were to happen and I make a claim within 48hrs, however most people are visiting and just need a place to crash. To be honest-I think the kitchen has been used maybe four times since I started renting it out back in October.

Q: Don’t you have to have a permit or something in Austin?

A: Yes, yes you do.

You can find the STR permits here on the City of Austin website. FYI they are still issuing permits for people who are the primary resident, but if you own an investment property and don’t have one yet-I hear there’s a wait list until 2017, but that may be hearsay. Because I live by the Domain, when I checked the map, mine was in the area AND there were 46 permits left-so I was golden.

Q: How much do you make off Air Bnb?

A: It varies, really.

December I only made around $350, but I also didn’t feel like renting out my space, I was swamped with work, holiday crafts and hosting my own friends. However, in November because I was gone for 10 days I rented out my home three different times, paid a friend to check on it in between guests and change sheets (what a peach!) and rented out the bedroom here and there-that month I made $775!

Q: So, wait-you rent out a bedroom WHILE you live there.

A: Yep.

Again, I like people, I don’t mind it. I like giving people tips on where to go and what to do. If I get the creepy vibe–(which I haven’t yet)–I have my own office, my own huge master with attached bath, so it’s not like we are on top of one another. And again, I have found most my weekday guests are contracted to do work, they’re gone all day as I work from home most the day. Then when they come back to the house in the evenings, I am usually showing properties, at the gym, grocery shopping our eating with friends, so I don’t see much of my guests when they are here.

DSC_1461

Q: Aren’t you worried about your dog?

A: Only her getting stolen.

Everyone loves #GoodGollyMissMollyMaltipoo. I have a disclaimer before I rent it to ANYONE–“I have a dog, she does not shed, she is super sweet, but if you leave the door open she will come in and steal a sock or lick you to death-she is a puppy still. You can feel free to play fetch with her and pet her or just ignore her.” I think after people check out they like her more than me, but Molly has never had a bad review, thankfully. Once, a guest got to my house before I did, I texted him asking if everything was ok. He texted me back a picture of him on my couch on his laptop and Molly snuggling next to him. Another guy from Louisiana came to stay a few nights. I never say him the first day, but the second evening when I got home he helped me string lights for my Halloween party in the back yard, we talked about everything and he took about 4 photos of Molly and sent it to his wife saying “we need to get a dog like this.” haha. I love it and honestly I think it is good for her! She is so social and loving. Ever since installing the doggy door-that is a nice big help too!

IMG_0137

(I know, I am ridiculous, but how can you not like that lil fur ball?)

Q: You are a single female and you rent your spare room to men? Are you nuts?

A: I do. And maybe?

I didn’t want to at first, but truth is, more of them are traveling for work. I usually get a “they aren’t a murderer” vibe and check reviews, then rent to them. I once got an inquiry from a guy to stay a few days and he didn’t have a photo nor reviews. I wrote him back and said, “I am sorry at this time I do not feel comfortable renting to you but best of luck.” It’s as simple as that. And honestly, I didn’t have to even write him. I could have just hit “decline.” But maybe my note will make him realize he needs to get a profile picture and more on his profile! He did write me back saying he had two daughters and he understood.

Q: Do you have to keep your home all clean?

A: It helps with reviews.

The good news is renting out the room and house to various people helps keep me in check. I do keep cleaner, but I like it! I will say renting out your home before you leave on vacation can be a bit extra stressful. Laundry, packing, making sure biz is covered AND cleaning up house, taking out trash, leaving directions, re-making beds and locking up my items–it’s a lot to do.

packing stress

 (This isn’t me, but let’s pretend it is. Thanks Google images-a girl stressed from cleaning and packing, like me…before a trip)

Q: So, you let strangers sleep in your bed?

A: Yeah, it’s not that weird to me.

Not in my sheets though. I bought some extra sheets, blankets, pillow cases and throws for my guests and so I can keep my own for me. I installed a key lock on my master closet, office and pantry (hey, can’t have the guests getting into my Tito’s), with that I keep valuables, my sheets, work stuff, and for some reason toilet paper and paper towels all locked up (hey I can’t have them stealing more than what they need). I realize some people think that is weird, but ever stay in a hotel? Remember your dorm room mattress? Wonder how many people slept in that thing before you…

Q: Do you have to pay taxes on the money you make?

A: Yep!

If you rent out your home for more than 14 days in a year you do have to pay taxes. I fortunately have a CPA, she told me to save ALL my receipts related to the rental. I am already used to paying a shit ton of taxes, so this is nothing new. I keep track of my Tuesday Morning and Marshall’s purchases (where I buy all my bath towels, sheets, blankets etc). And yes, sometimes I go there just to buy guests items because shopping for home stuff is fun.

Q: Any bad experiences yet?

A: Actually, nope!

I went to a short term rental seminar/class a few years back and a I picked up a few pieces of advice that I use(d).

  1. I keep the house really clean upon arrival, fresh sheets, vacuum, clean dishes, dusting even.
  2. I personalize it some but not fully. {For example: If you were renting my home you’d know what I look like, where I traveled and see a few family pics. You will not find the pics of me partying, with my friends on a boat or at ACL–I take those down. Reason being, people tend to respect someone’s space when they get a feel for who they are/what they are like and that someone lives in the space, which I already make known in my replies to an inquiry
  3. I leave little notes for my guests everywhere! {Notes such as “help yourself to anything in the fridge but eat at own risk!” or “feel free to use any travel toiletries in bottom drawer, extra blankets and sheets are in trunk in living area.” I also instructions on how to use the remote/ TV in living area, reminders to turn off back patio lights, etc. I also write a note to the guests when I leave wishing them a good time, etc. with my cell in case they need anything. I think it helps.

DSC_1438

Q: Do you use professional photos or anything?

A: They aren’t “professional” per say.

I used my camera and flash one night after having the place all cleaned up. I took a bunch of photos and used those, then if I set up an air mattress or something I take a photo and add to the folder. It’s been a slow and steady process. The more you have, the more likely people are to stay with you. I also have photos of things near my home (Domain, metro, etc) and I used the fact it was on HGTV as a selling point!

DSC_1521

domain2

 

kramerstation1

Q: Isn’t it weird having people use your stuff-has anyone taken anything?

A: Not that I am aware of.

I could eat my words in the future here, but it’s just “stuff” at the end of the day..then again my place isn’t super decked out in anything crazy expensive or nice, but things are things and they can be replaced (some of them anyway). Would I be upset if something happened? Absolutely, but I try not to focus on the bad and the “what if’s.”

Q: What about home owner’s insurance?

A: I spoke with my insurance agent, I am good.

I heard crazy stories and started thinking absurd things that could happen to my house while out of town…so I gave her a call and between that, the Air BnB policy and the fee I charge to hold for damages etc, I am good…maybe not totally covered if something crazy happens, but are we ever in life??

Q: How do they get in once in Austin?

A: We keep in touch, but I usually shoot instructions over just once.

After you accept them as a guest on Air Bnb you then have their phone number etc. I usually text or keep messaging through the app, but I have a key pad on my door. The code will get them in the door and then I have a spare key once here in case that doesn’t work. I really want to get the new August locks. You can get in with your phone, it is bluetooth and I can easily change the code when I want, I don’t have the best method right now. But I do have an alarm.  I also have a Nest so I can monitor thermostat from my phone (not that I would change it on my guests, but good to see!)

August locks

Q: How do you know what to charge?

A: Honestly, Air BnB has some suggested pricing, so I typically go by that.

After the first three guests stayed with me they had all made comments about my place being nicer than other places they stayed and how I should charge more. So I bumped up pricing a few bucks here and there and then I definitely increased it for heavy weekends like SXSW, ACL etc. Sometimes if I have an inquiry for a weekend that I wasn’t planning to go out of town (ie graduation weekend in May) you can write them back a “special offer.” It has worked for me twice now. I explain why I want more and that I am still cheaper than a hotel. Boom, Booked. Maybe those are my real estate negotiation skills coming into place

Q: Where do you stay when your home is rented out?

A: Well, I stay with friends or I am out of town/the country.

I will say I stretched myself last year (weird, I never do that–sarcasm) thinking it wouldn’t be a big deal to crash with friends for a few days. I even worked out a deal with my best guy friend, offering him a cut when my place was rented and I could crash on his couch. After the second weekend rental I decided that’s no way to live! What was I… 22? I felt like I was burdening my friends and living out of my car and it’s not like I was making a mortgage payment in two days or anything. In fact, a cold front blew in one weekend and I had to go back to my house to get the right clothing, fortunately my guests didn’t care. So, my new 2016 method: Only rent the house on weekends I plan to go out of town and keep my calendar up to date. Which is difficult. I already have it rented out two weekends where I have no plans to leave town (but all the more reason to book a weekend trip, right?!) I will say it was really nice in November when I was in Central America getting Air BnB texts that money was being transferred into my account and my friend telling me the home was spotless. Yay!

Q: Are you planning on using Air BnB as a traveler?

A: Absolutely!

I find having a bunch of reviews, as a host or traveler is beneficial. I had inquired about a condo in Tahoe, asking a question and the woman approved me off the bat, so that helps. Portland, Seattle and Vancouver I used Air Bnb and I really enjoy staying in the neighborhoods, visiting local spots in the area, it can be better than staying in a hotel downtown (and cheaper) depending where you are going.

IMG_7106

(the darling neighborhood we stayed in Portland, on Air BnB)

Overall Air BnB has been a positive experience for me, but I also enjoy meeting new people. Some people are so nice, text me on their way in “do you need anything, I am grabbing ice cream.” And leaving nice little notes in my little notebook I have on the entry table. I like to talk to people that travel, see where they have been (though most aren’t that far away and looking for a little getaway) and I want people to enjoy Austin (but please don’t move here, haha). I like to tell them where to go, what to do and I recommend Localuer to them as well, as I like to travel. Is it always the most convenient? Now, at times I remember I have a guest and can’t blast the music as I get ready in the morning, or I tip toe in late at night so my shoes aren’t loud on the wood floors, but in the grand scheme of things, it’s been good to me. It’s like the perks of having a roommate sometimes, without having a full time roommate-it’s pretty awesome. They pay you. They aren’t home all the time, they typically leave it pretty clean, never use the kitchen or WD and have loud music playing etc. and you only have them in your home when you want them. I’d say it’s a pretty sweet deal!

localeur

(Localeur logo–which actually was created before Air BnB updated their logo, FYI).

I can’t really think of anything else I haven’t covered, but if you have any additional questions-feel free to ask, PM me or email me (AshleyBrinkman@gmail.com)

How to be a Great Home Owner

I recently purchased a home and one of the things I REALLY appreciated were the seller’s care they took in the home I purchased, but also their responsiveness to questions I had about the home during and post closing.

As an agent now for…I don’t know like 7 yrs-(I cannot keep track any more), there is a noticeable difference of when an owner has lived in (and cared for) a home and when it is a flip or rental or unmaintained. Nothing brings me greater joy as a buyer’s agent than when the sellers are open about information with the home–past bills, year they put in wood flooring, last time they had HVAC serviced etc. These are important things to keep track of! And nothing brings me greater joy as a Selling agent than the big file/paper trail the seller hands over to me when we sign a listing agreement either.

kitchen

If you are not OCD that’s ok! And I am not trying to encourage hoarding either (which seems to become a habit of never throwing anything away once we move into a place that has more space).

hoarder

I thought I would put together a few tips on being a great home owner-and increasing your resale potential in the future, below.

1. Document, document, document.

It isn’t a terrible idea to keep a piece of paper taped inside your HVAC closet of dates you last cleaned it, changed the air filter or had it serviced, make a note each time. Also, to keep track of doing these items, after you purchase a home-maybe add reminders to your calendar (air filter monthly and servicing between seasons).

closing docs

More of an electronic person? Have a folder on your computer (in dropbox or a cloud provider so you don’t lose it if your computer crashes) with all your home owner paperwork: closing documents, survey (that’s a $450 piece of paper), and then as you update your home, take care of things, etc, be sure to keep copies of receipts, invoices, bids etc in this folder for future reference. Painted a room and have leftover paint? Write the room and paint color on can and keep in special place in storage, not just for future owner of your own home-but it may come in handy for you too! Do you have a lawn guy who comes a few times a month or a recommended pool cleaner? It isn’t a bad idea to pass along their info or card to the future owners of your place as well.

2. A special place

Have a designated drawer or file cabinet of some sort for these documents, invoices etc. as well. I was real fortunate when I purchased my home to have a huge stack of manuals of every appliance, light fixture, etc that was updated in my home. As well as a few parts to things that may not have been used, but could be added (extra lock to sliding glass door, under cabinet lighting, etc). The special place shouldn’t be in the attic in a box however, should be an easily accessible place and if you are super into security, perhaps in a locked safe or cabinet of some sort.

file cabinet safe

Are you an owner of an investment property? The management company should keep track of all leases, service orders and maintenance calls, and you will want to make sure you get a copy as well! Save emails between your and your tenants.

3. Take care of it.

If I had to choose between spending $1000 on a trip somewhere or fixing an HVAC leak, it is a no brainer on what I WANT to do, but not necessarily what I NEED to do. If you are generally keeping an eye on things in your home, then hopefully it won’t get to a point of discovering a major issue costing an arm and a leg. Water your foundation with soaker hoses (another item you can add to calendar if it hasn’t been raining), add insulation in the attic when needed, replace or fix items as they break vs putting it off. Yes, much easier said than done.

Plumber working on sink

Have you ever heard the term to “swallow the frog?” Your fixture in the bathroom works fine, but the handle is broken and you have been turning on the shower with a wrench for more than a year. Guess what, as soon as you get someone to fix it (if you can’t yourself) you are going to think: Man, why didn’t I just have this done month’s ago?! It’s the little things that are a pain in the butt, yes, but when everything works as they should in your home-you’re happier.

When  you take care of things now you also save a lot of time when it comes to putting your home on the market because then things are already done (and believe me there comes a hefty list of things to do to make your home sell faster-why add more little tedious projects to the list? “Take care of it” also goes without saying–this means your mortgage, taxes and HOA bills too. Don’t let bills slip away from you!

4. Befriend Thy Neighbor.

friends with neighbors

I know, I know–the crazy cat lady across the street is annoying or the guy that lives below you at your condo is creepy. You don’t have to hang out and cook dinner together, but being aware of what is going on in your neighborhood, with your neighbors, amongst your HOA is never a bad thing. Sure some chat it up way too often and are always spying on what is going on at your place, but when you have great neighbors, there is nothing better! Even if you hate people, make it a goal to introduce yourself to a neighbor or say hi from time to time.

crazy cat lady

Good neighbors: alert you and watch your things when you are on vacation or if there was something suspicious. Good neighbors give great recommendations on who fixed their roof. Good neighbors mow your lawn sometimes since your yard connects. Good neighbors let you borrow a cup of sugar (or these days a wifi password) or lend you a helping hand when doing yard or car work. Are YOU going to be that good neighbor?

 

Austin by the Numbers

I went to a really interesting and fun meeting today with the Platinum Top 50 Finalists and Winners. It is nice to be in a room filled with successful people I look up to and can learn a lot from.

We floated around the tables and had 15minutes to discuss various Real Estate topics.

One round we were given 10 questions, “How well do you know Austin” …I was shocked, our table did not fair well, actually not many of us in the room did -how embarrassing, we are Realtors! (but I blame it on the numbers being very close to choose from, ha)

Below are some of the things I learned and wanted to share (and a few pop quiz questions for you as well)

Austin by the Numbers: General information on our parks, demographics and more…

  • In the Austin metro, 40% of adults have at least a bachelor’s degree, compared to 29% nationally, putting Austin in the top 10 among the largest Metros!! (Woohoo, go college!)

utcollegegraduation

  • Austin area households enjoy diverse options in education, including 29 public school districts, 17 charter schools and over 100 private schools

 

  • The Council for Community and Economic Research indicates that living cost in Austin are 6-7% BELOW the national average (in 2013…ha wonder if that has changed these past two years!)

 

  • The National Association of Realtors reports that the median home price in Austin was $222,900 in 2013 while the national median was $197,400

DSC_0174

Here is one for YOU! (don’t cheat!)

  1. According to the census metro Austin’s population grew to nearly ____ in 2013 and is expected to reach ____ by the year 2020.

A. 1.7 million/ 2.0 million

B. 1.8 million/2.2 million

C. 1.9 million/2.3 million

D. 2.0 million/2.6 million

  • In 2013 the median household income in Austin was $61,750 compared to $52,250 nationally
  • The Parks and Recreation Dept. operates 12 off leash areas for you to enjoy with your dog and 2 skate parks

bulldog

Another one for you:

lovesurprises

  1. City of Austin operates 50 public school facilities, which includes _____ neighborhood pools, 3 wading pools, ____ municipal pools, 11 splash plads, 1 rental facility and Barton Springs Pool

A. 20/ 14

B. 23/11

C.24/10

D. 28/6

(answers to quiz Qs at very bottom, don’t cheat)

  • Over 19% of all residents in Austin live in poverty–according to City of Austin’s annual (2014) Economic Development Report (this makes me sad, and is a hot item we talk about here in Austin)
  • 19% of Austinites are foreign born
  • The city of Austin owns 6 golf courses and one short practice course all focused on a great golf experience at an affordable price.

As always thanks for reading! wink, wink!

kristinwiigwink

Answers to the above quiz: 1.) C 2.) D *Did you get them correct?*

My First Wedding Shoot: Caswell House, Austin Tx

{December 1, 2012: Heidi and Brian’s Wedding at the Caswell House, Austin Photography}

About two years ago I met some girls that had contacted me about a house they wanted to lease. I met them and liked them instantly. They were spunky and honest and forward on what they liked, yet really different and all over the place–we hit it off immediately.

We worked together and I actually never got to help them find THAT particular home (found something through an owner with a sign in the yard), but the sweethearts sent me a gift card or check (can’t remember but it was of monetary value–right before my birthday too) and they thanked me for all my hard work in helping them–how nice is that?! Then a year later I helped one of them (Heidi) find a house for lease in Hyde Park. And then again a year later or so, she contacted me again when she was ready to buy–and she did… (which I helped her find and close-yay me!)

So while our relationship was usually work related–we could be very candid with one another ( it is no secret I am pretty honest and open–I mean you ARE reading my blog about anything and everything for pete’s sake!). Anywho, this cool chick followed my facebook business page photos of random things I liked to photograph, eventually I did some engagement shoots for friends, posted some of those on my blog as well. I definitely have a preference for portrait photography. Then one day she’d ask me to take photos at her low key wedding, reception to follow in their newly bought (and renovated) home in East Austin (sold to them, by yours truly, again I remind you, haha) and I said No way Jose! Way too much pressure for someone who just likes to take photos of signs of her fav Austin restaurants, ya know?!

Anyway, time passed and Heidi’s wedding got closer and she asked again. She promised me she was low maintenance, no fuss, and I knew she wasn’t lying, she is such a laid back, cool person. So, I for some reason, agreed. Only to later find out in our lunch meeting about her wedding that it was now at the Caswell House-ceremony and reception and she had 8 bridesmaids now and Whole Foods to cater! NBD, right?! The pressure was on now.

Low and behold, here are some shots from Heidi’s wedding. Now, from a professional standpoint I know these are not that great, but the only thing that matters to me is that Heidi and Brian were happy–and they were, and I am grateful for that. What I did learn is of all the camera accessories I now want for my camera (or a new upgraded camera-hehe). Thank goodness most the bridesmaids had nice DSLRs, without them, I wouldn’t have gotten some of the amazing shots when the room was darker and people were dancing (that is seriously the toughest moment to capture)!

Here are a few photos, not sure how I’d feel about doing it again, but perhaps for someone just as cool and nice as Heidi (and a beautiful bride never takes bad photos, so that certainly helped). Enjoy.

Bride picked these flowers, brought to you by Whole Foods

Getting ready in the lady’s quarters

Girl shot!

What I love is that Heidi told her lovely friends “pick a long gray dress” and they all came together nicely, each one reflecting a bit of their personality. Lovely, ladies, lovely!

Some other cameras I used besides my own, thank goodness for my second, third, fourth and fifth shooters, between us all I am sure Heidi has some awesome photos. I love my beginner Nikon, but may be time to upgrade :)

If there’s one thing I like it’s a snappy ceremony! (and it was!)

I love this photo. Pretty sure Mariah Carey’s “All I want for Christmas” came on, that will make any girl excited, ready to dance, and sing along.

Best Man Speech. Probably one of the best I have ever heard. (Is it ok to cry at a wedding you are not officially attending as a guest??)

The little book the best man wrote in while getting ready earlier. Love it.

Gotta have the father/daughter dance shot.

I think some elbows were thrown for that bouquet.

View from the Caswell house upstairs balcony.

There wasn’t much time for bridal party photos following, (in fact the whole night just flew by but I like the look of this one and tried my best to capture everyone!

Seeing something like this you’d think it was my idea, but nope…this guy came up with it all on his own. Classy.

During the last dance, everyone waited downstairs and got sparklers ready and I snapped this one. I was using a different camera than mine (it was actually really dark in the room) but I just loved it and focused in on the flowers.

After I snapped the first (and I did like the look of the Shiner Bock bottle in the shot), I thought–well, better move it while I have the chance. Hopefully one of these they like, as it is one of my favs and just a little different.

And away they go!

Or do you prefer this affect better? I played around with it some when I was editing, I like them both for different reasons but always think black and white is a classic…like this one below (Heidi’s sister).

Aren’t these the cutest parting gifts?!

And they lived happily ever after.

As always, thanks for reading.

-Ashley

(the Realtor, non professional photographer who likes to blog about all, loves Austin, taking photos, traveling, working out and working with people). That is all.

 

A Smart Option to Look Into When Purchasing: Home Path Mortgages

This year I have been very fortunate to represent many buyers. Some were friends, some were friends of friends, some were first time buyers, some were cash buyers buying for their children, some were referrals, and some I met through some means of real estate and started to help! I really do enjoy looking at homes with buyers, trying to figure out their needs, informing them of market conditions, negotiating the best price for everyone, searching for (seriously, countless) hours at the various options they have– not only when it comes to what they are looking for in a home, but the loan they are about to take on in this big purchase.

Currently I am working with a buyer who is in quite the predicament. Here we have this situation:
Option 1:

PROS

  • The EXACT location client wants to be in
  • The (impossible/tight) price range client wants to stay under
  • The rare given opportunity this condo is a 2br (to enlighten, at this price and area, most are 1br)
  • Condo is move in ready and remodeled

Now, THE CONS:

  • Foreclosure
  • Non-warrantable condo
  • First floor? (subjective)

Those are really the only cons, but they make a big difference when it comes to loan options. For some people foreclosures are not seen as a negative, however in dealings with the red tape, lending guidelines, turn around to hear back from banks, and the fact most foreclosures are priced at market value, I am going to say–it is a CON.

Now, onto OPTION 2:

PROS

  • The EXACT location client wants to be in
  • The (impossible/tight) price range client wants to stay under
  • The rare given opportunity this condo is a 2br (to enlighten, at this price and area, most are 1br)
  • Unit same floorplan as option 1 however

CONS:

  • Unremodeled
  • Price doesn’t seem to equate for lack of updating
  • Foreclosure…or is it a con in this instance?

I am going to enlighten you. While the first option was a bank foreclosure, the second option is a Fannie Mae foreclosure. With Fannie Mae comes the Home Path Mortgage. What is a Home Path Mortgage, you ask? Well, I will give you some information and hopefully you can see if this type of loan is right for you.
With a Home Path mortgage you can put 3.5% down. There is no appraisal, and no mortgage insurance. Also, if you close before the end of October on a Home Path Mortgage they will pay a portion of your closings costs. With most other foreclosures you really cannot expect them to pay for anything, you can ask, but don’t hold your breath.

Now, of course your rate is probably going to be a little higher than a conventional loan, but over the lack of mortgage insurance AND fact you can put less down can save you a good chunk of change. On top of that a non-warrantable condo conventional loan can be hard to come by. Here is something to think about too: What if you went the conventional route, get the condo under contract, put more than 20% down, only to find your buy did not appraise for the loan amt. Do you put down more and restructure the loan (that you weren’t planning on giving up in the first place)? If you had decided to go with the Home Path Mortgage, there would have been no appraisal. This can be a very good option for many buyers with not the best credit and not a ton of money to put down. Want to do renovations? Home Path also has a renovation loan as well!

So now we definitely have options, financial options. Does putting down less money and dealing with the headache of a remodel sound appealing? Or paying more per month, with more money down in something that is move in ready?
It will definitely vary from person to person, but just remember there are options! Now if you strictly want to go the Home Path route, because you have maybe not so hot credit and only 3.5% to put down then your options may be fewer, but not impossible. Contact me today to set you up in a Home Path mortgage approved home.
Great reasons to buy:
-Rental rates in Austin at all time high
-Occupancy for rentals 97%, with still an influx of people migrating here (shhh! Stop telling people how great it is here for the sake of traffic!)
-Rates are SUPER low (Did you know in 2006 people were paying 10% interest on homes that were only on the market for a few hours?) Today I received an email rates are at 3.75%!!!!
-Owning a home builds your credit
-Owning a home also makes insurance decrease in some cases
-File homestead and get 15% break
-Most importantly owning a home will make you feel like a cool, responsible adult**

Here are some frequently answered questions regarding Home Path Mortgages:

  • Minimum Down Payment is 3% but 5% is best.
  • Investor’s minimum down payment is 10% down.
  • 2 Unit properties require 20% down regardless of occupancy.
  • 3-4 units require 25% down regardless of occupancy.
  • An appraisal is not required.
  • Regardless of down payment mortgage insurance is not required.
  • Most closings can occur within 30 days.
  • The interest rate is usually .375% higher than market.
  • The payment on a HomePath Mortgage will always be lower than an FHA payment.
  • Condos do not require HOA certificates.  Verification of owner occupancy ratios or percentage of delinquent HOA dues is not required.
  • Condotels are not allowed.
  • Condos in Arizona, California, Florida, Michigan and Nevada are not eligible.
  • Manufactured homes are not eligible.
  • Minimum credit score is 660 unless the down payment is 20% then the minimum score is 620.  No exceptions.
  • The minimum loan amount is $50,000.  The maximum loan amount is $417,000.
  • The seller can pay up to 6% of the sales price towards the borrowers closing costs.  Regardless of loan to value.
  • HomePath is a conventional loan product.

Think this may be something you are interested in? Love to chat with you more!

Ashley Brinkman. 512.665.8787. Prudential Texas Realty. Austin, TX 78731

Texting Agents, Clients and for the 411

Maybe it is the fact I am Generation Y (well, I would like to say I am on the cusp), because I have tendencies and a like minded work ethic of a person in Generation X (but I think kids these days are getting lazier, no one will know how to send a piece of mail or communicate face to face in the future. And what is with "cyber-bullying"?), but I feel as though I am slightly more connected with Generation Y (Open to social networking, videos, member of Facebook since college, constantly texting my friends, younger family members) and now…I even have the last line of my voice mail state, "For a faster response or question, please send a text message, thank you."

TEXTING AGENTS….

Is it bad of me that some times calling my voice mail is more work than simply reading my text messages that are right in front of me on my phone screen? I certainly appreciate it when I can text message an agent to ask a simple question, for example, "What is the combo code for__?" or "Does this house have any applications/offers on it?"

I will say I do not randomly text an agent, it is more of a last resort. I called the office, called the cell, maybe I will shoot them a text message to just sum up my message and what I need? It is such a frustration when an agent doesn’t answer or doesn’t call you back (within a good amount of time), however it is understandable that you can’t always answer the phone as an agent. Going back to Joetta Fort’s blog about not answering your phone in front of other clients is a good excuse as to why an agent won’t answer the phone as well.

 

TEXTING CLIENTS…

I know it may not be establishing the best repor, but I find texting my clients from time to time is a nice gesture. Some times I will text a client if they are waiting to hear news from me and I know they are at work, I will write "Hey just letting you know I haven’t heard anything yet, but they said they will get back to me today"

I will also text my client to see how things are going after the move, "How is the painting coming along?" "Did you get a chance to check out (fill in the blank with a place I talked about near their home)?"

Don’t get me wrong, I use email. I send thank you cards, I will call, but it seems like text message is the non-intrusive, but faster provoking response method of communication.

 

TEXTING FOR INFORMATION

Since people want information faster than ever (they don’t wait to get home and call or email you about a house), they immediately start looking up the property on their phone as they drive down the street…(half the time they probably don’t even catch the house number)!

You can set up information to be distributed by text message with your listings. "For more info. on this home text _" on a rider sign in the front yard. Chances are (depending on the clients, I suppose) the text numbers will get more action than your cell phone. Depending on how you look at it, this can be a good thing or a bad thing. If you can track who texts the number, and get their info. this can work to your benefit. The text message to the interested buyer can tell the price, square footage, schools, and then the agent’s number to set up a showing. If a buyer made it past the first few criteria, then you are already one step closer to qualifying the buyers and possibly building a repor, and adding them to your client list!

My Text Messaging Tips:

Proofread what you send (phones some times guess words and this can cause confusion)!

Don’t ONLY use text message (your clients may get too used to it, then you won’t have a good idea of how to read them)

Keep the messages short and sweet. (Anything that requires a lot of detail, pick up the phone).

Bad news is not for text message (again, pick up the phone)

No late night texts (as a night owl agent, I do a lot of my "computer" work from my bed at night, this is not a good time to remember something and send a text message. Plus if my clients are like me, their phone might not be on silent at night). And with that being said, no early morning texts either

Keep it friendly ;)