Posts filed under ‘Austin’

My takeaways from KW Family Reunion 2016

Start every day being super clear what ONEthing you must do today really really well.

Continue Reading February 29, 2016 at 5:19 pm Leave a comment

Information About Brokerage Services

Buyers in Texas have a right to representation; Realtors in Texas have a legal and ethical obligation to inform you of your right to representation.

Information About Brokerage Services

September 2, 2013 at 6:25 pm Leave a comment

Austin, TX Economic Outlook: No Longer a Secret

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Austin as we know it today

Last month I had the honor of listening to David Tandy, CEO of Gracy Title, talk about the Austin economy, the Austin real estate market outlook and where we’re going. Hold on … the Austin we know today will not be the Austin of 2023. Some of the numbers I will reference in this post include articles, posts & research from the Austin Business Journal, 2013-2014 Angelos Angelou Economic Forecast, and the Austin Chamber.

F1

My biggest takeaway was that the Austin growth, momentum, economic outlook numbers are quite possibly understated. The main premise here is that most of the economic forecast, growth projection numbers were researched and posted PRIOR to the F1 Circuit of Americas airing in November (which had an estimated $483M economic impact to Austin) where 600 million people worldwide heard about Austin, TX and what an amazing city we are. Austin is no longer a secret.

The Numbers

  • At a 2.9% growth rate, we are the fastest growing city in the US.
  • In 2013, there will be 60-70,000 people moving to Austin. This growth will continue.
  • For every 2.5 people, we need one housing unit (home or apartment) which equals a 28,000 demand this year. This demand will continue.
  • In 2012, we created about 12,000 housing units, demand was 28,000; we currently have a 30,000 housing deficit. This deficit will continue.
  • low supply, high demand = sellers’ market

California

Californians are moving to Texas, a lot of them. Recent headlines involve Governor Perry’s poaching tour of CA (real classy move, Gov). California’s tall state income tax, increasing sales taxes and suffering schools are fueling the 3rd coast migration. Besides #sxsw, watch for more CA license plates in TX.

Real estate tips for our new residents

First, welcome (ignore the don’t-move-here t-shirts). Second, we are still much cheaper than CA. And a few other things you should know:

  • no income tax in TX, we make up for it in property taxes (they will be much higher than you experienced in CA)
  • prices are going up
  • Multiple offers are commonplace right now and expected to continue
  • Find out about homes before they hit the market (we call this the silent market or pocket listings or, simply, coming soon). How to do this? A good Realtor has a solid network of Realtors and they exchange information all the time. You may want to consider aligning yourself with an office that has the largest market share in the area. (Shameless plug: Keller Williams Realty began in Austin, TX in 1983 … they dominate the Austin market, most listings, most sold, most luxury market, most agents.)

Summary

The growth in Austin over the next 3-10 years is going to be huge, dare I say explosive. Jobs are fine … best job growth in the country. We will continue to feel it with housing supply, multiple offers, increasing prices, affordability and traffic.

Buyers have to be very strategic and on-the-ball with making an offer. The demand & low supply is pushing prices up. There is a ton of CASH out there right now. Gracy Title says 30% of their closings right now are all cash. This translates to disadvantage for contingent and low down-payment offers.

Connect with your favorite savvy and qualified Realtor to customize your real estate strategy and successfully navigate Austin as we know it today.

© Julie Nelson and The Nelson Project at Keller Williams Realty, 2013-2015. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content. Julie Nelson is a licensed Realtor with Keller Williams Realty in Austin, TX.  This article and other blog postings should not be construed as legal or professional advice.  Contact your favorite Austin real estate professionals in person for actual advice.  Julie can be reached at www.thenelsonproject.com.  Searching for homes?  We think this is the coolest Austin home search tool available.

March 12, 2013 at 3:41 pm 5 comments

Affordability Factor in Austin

The affordability factor is the calculation of how much home you can afford taking in to consideration current interest rates, your loan qualification and the current market.  Affordability in the US and in Austin, TX has never been lower.  Here is an easy example: 

 

1992

2013

Interest rate

8.5%

3.75%

Loan amount

$150,000

$250,000

PI payment

$1,153

$1,157

So your payment on a $250k house today would be the same as your payment on a $150k house in 1992. 

Another way to look at affordability is the impact of increasing interest rates.  I think we all can agree that interest rates will go up (hint:  they have never been lower).  For every 1% increase in interest rate, you lose 10% of your buying power.  Here is an easy example:

Interest rate

4%

5%

Loan qualification

$400,000

$360,000

PI payment

$1,909

$1,932

This information is provided as a guide.  We recommend that you contact your mortgage specialist for a thorough personalized mortgage assessment. (Don’t you love disclaimers like this?)

 

© Julie Nelson and The Nelson Project at Keller Williams Realty, 2013-2015. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.  Julie Nelson is a licensed Realtor with Keller Williams Realty in Austin, TX.  This article and other blog postings should not be construed as legal or professional advice.  Contact your favorite Austin real estate professionals in person for actual advice.  Julie can be reached at www.thenelsonproject.com.  Searching for homes?  We think this is the coolest Austin home search tool available.

March 12, 2013 at 2:58 pm 1 comment

2012 blog in review

The WordPress.com stats helper monkeys prepared a 2012 annual report for this blog.

Here’s an excerpt:

600 people reached the top of Mt. Everest in 2012. This blog got about 7,100 views in 2012. If every person who reached the top of Mt. Everest viewed this blog, it would have taken 12 years to get that many views.

Click here to see the complete report.

January 2, 2013 at 2:09 pm Leave a comment

Mother Lode of Austin Maps

I spent an hour on the Google this afternoon looking for the best maps of Austin.  Austin neighborhoods, Austin area schools, Austin demographics, Austin politics, etc.  Holy cow, it’s the mother lode!

I found the City of Austin maps library!  The mother lode of Austin maps.

Demographics, you say?

Here are a few easy Austin map references:

Austin Neighborhoods

Schools:

And a few random:

We’ll stop there.  Call us if you want in-person conversation, interpretation, input or opinion on any of this.

Julie Nelson is a licensed Realtor with Keller Williams Realty in Austin, TX.  This map link list and most of her blog postings should not be construed as legal or professional advice.  Contact your favorite Austin relocation professionals in person for actual advice.  Julie can be reached at www.thenelsonproject.com.  Searching for homes?  We think this is the coolest Austin home search tool available.

June 24, 2012 at 10:20 pm 1 comment

Nelson Project Announces New Partnership

Partnership enhances Austin real estate group’s position.

AUSTIN, TX,  February 16, 2011—The Nelson Project of Keller Williams Realty, a highly successful residential real estate team, announced today a strategic partnership with The Oldham Group of Keller Williams Realty, one of Austin’s premiere residential real estate teams.

The partnership follows a recent announcement of the promotion of Julie Nelson, owner of The Nelson Project, to the position of Career Development Coach at Keller Williams Southwest Market Center, the largest residential real estate office in the country. In the new position, Nelson will be responsible for increasing the skills and productivity of over 500 real estate agents who work from the Southwest Market Center. Nelson has been a technology leader and will bring that expertise to the program.  According to Nelson, “I see an enormous opportunity to enhance the lives and businesses of individual agents. It’s an honor to be in this position.”

Nelson recently signed a partnership agreement with Courtney Oldham, owner of The Oldham Group. The partnership signifies the formation of one of Austin’s largest real estate teams with an intense focus on exceptional, personalized service. “We are excited to announce this milestone,” said Courtney Oldham. “Each company had a proven record of success before the partnership; now we are positioned to provide an even greater level of professional service so our clients can make smart and informed real estate decisions.”

Nelson remarked, “This partnership is a wonderful opportunity for our friends and clients as they benefit from expertise of our combined knowledge and experience.”

About The Oldham Group

The Oldham Group is a team of dedicated real estate professionals that know Austin and have an extreme focus on the needs of their clients. The Oldham Group practices real estate with a systemized approach to ensure buyers find the perfect home in the most efficient manner possible. For sellers, the Oldham Group designs and implements customized marketing strategies to aggressively promote homes while maximizing exposure to potential buyers. In 2011, The Oldham Group partnered with and assumed day to day operational responsibilities for The Nelson Project.

About The Nelson Project

Led by Julie Nelson, The Nelson Project is a team of real estate professionals with Keller Williams Realty serving Austin, Texas buyers and sellers. They concentrate on client solutions, technology, and a smart analysis of the market.  The Nelson Project website recently ranked in the top 1% of 80,000 Keller Williams websites.   In 2011, Julie Nelson partnered with Courtney Oldham and The Oldham Group.  

February 17, 2011 at 1:50 pm 2 comments

Market Review & Housing Affordability

Wanted to give you some links that provide good information on the Austin real estate market, 2010 summary and what we’re seeing right now early into 2011.  These are some of the main data resources we use in tracking the market.

One thing that we watch with interest is what we call the Housing Affordability Index (HAI). Published by the National Association of Realtors (NAR), the HAI is the ability of the average family to afford the average home with only 20% down. It measures whether a typical family could qualify for a typical mortgage on a typical house. The index is up, meaning affordability is up mainly because of 2 of these 3 factors … pretty sure the typical family income is not up so it’s the seriously low mortgage rates and the downward effect of home prices creating the increased HAI. From 1990 – 2008, the index was around 115-140; it’s over 180 right now. When interest rates go up, the index will creep back down.

One of the best sources for Texas and Austin real estate stats is the Texas A&M Real Estate Center. Here is a link to the Austin data page: http://recenter.tamu.edu/data/hs/hs140.asp.

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The Austin Board of Realtors has an excellent report out, Implications & Expectations for Austin’s Market, that outlines the overall 2010 market results.

One of the main things we’re seeing in Austin is price softening but volume of sales creeping up. These are averages for Austin and your local neighborhood market may have different trends with many neighborhoods holding steady. Buyers will pick up this spring but so will the number of homes on the market.

Again, we’re always saying real estate is local and we are happy to run stats & strategy specific to your neighborhood.

 

The Nelson Project at Keller Williams Realty in Austin strives to provide valuable real estate information and news through this blog and our other online resources.  Find more about The Nelson Project and search for Austin homes at www.TheNelsonProject.com.  If you like this blog, you may want to visit our totally useful Austin neighborhood portal.  We think you may also like www.tacomap.info (tacos first, real estate second).  If you really like what you see, tell your friends to call us with their Austin real estate needs.
 
© Julie Nelson and The Nelson Project at Keller Williams Realty, 2009-2011. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

February 12, 2011 at 5:15 pm Leave a comment

Another Possible Scam … Deed Retrieval Services

You all have heard of the letters that go out each year offering homeowners a homestead exemption for the low price of $25 or $30. You also know that no one ever has to pay for a Homestead exemption…. it is free.

Well now there is a new letter called ‘Deed Retrieval Services’ and it is from the State Record Retrieval Board which, by the way is NOT a state agency.  This one offers to provide the homeowner with their ‘…… Deed and complete Property Profile’ for the cost of $87.

The letter says they are not affiliated with any governmental agency nor your county. It is only a solicitation. All of that is correct, however, there is no reason to pay for these items, so please let your clients, friends and neighbors know about it before they send money to this entity.

November 19, 2010 at 1:06 pm 2 comments

Quick Study Austin Market

grass sky Small I just ran 15 quickie pending / sold analysis around Austin comparing sold the last 60 days and current pending and found some interesting and optimistic data.

If you say that 30 homes sold in area 4 in the past 60 days, that tells us that 15 homes are selling per month recently. Then you see that there are currently 20 area 4 homes pending … that means, in theory, that 20 homes will close in the next 30 days. That would be a slight increase in activity.

When we see the pace pick up like this, it indicates that we are moving inventory through the system, lowering the number of homes on the market. This is a good thing. If the market is saturated, it softens prices; when the market has fewer homes available, it increases demand … basic economics and something we watch closely.

Of the 15 snapshots I ran, 14 were up, 1 was even. Meaning, they all are showing that homes sold for the next 30 days will outpace the rate at which they sold the past 60 days.

5 of them have almost doubled: areas 1B, 1A, downtown condos, 78704 condos and area 5 (east).

The next healthiest: Anderson High School, 78704 homes, area 10N.

A little further down the list but showing stability: areas 4, 2, Hays and Pflugerville over $200k.

This is not an indication of prices creeping up (that is another study), but it indicates stability.

 

October 28, 2010 at 7:43 pm 2 comments

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© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2016-2020. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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