Texas Real Estate

My observations were confirmed! Apartments are being overbuilt in Austin, as indicated in an August report by Mark Doutzer, Texas A&M Economist.

Last year, I noticed an unprecedented amount of new apartment buildings going up. I didn’t have any hard numbers to go by, but it just seemed like the construction was getting out of control.

The economics reports stated that we would have 3.5% job growth in the coming year and that tenants would lease a net gain of 4,600 units between August 2007 and August 2008. However, only 1,233 were filled as many tenants doubled up to save money.

2009 job growth is now fore-casted at 1.1% and with construction loans drying up, perhaps it’s best that some of the overbuilding has been curbed.

New home building has also slowed and is not expected to pick up until the fall of 2009. So, maybe I’ll get to enjoy some of the remaining trees just a little longer.

There are thousands of homes on the market right now.  What do you need to do to make your home desirable and obtain top dollar?   Below are some tips to make this possible.

1.De-clutter.  Take a look around your house.  Are there items you no longer need or use or piles of books, magazines, or other materials?  The home should appear spacious so potential buyers can imagine the home with their belongings.  Give away the unused items or have a garage sale.

2.Repair Sheetrock.   Do you cracks or holes in the walls?  Repair those professionally to give the home a well-maintained look.

3.Repaint/Touch up.  Do the walls have fingerprints, marks, and other flaws?  It’s time to touch up or repaint entirely.  This gives your home a new home look that buyers like.

4.Fix Anything Broken.  You have lived in the home and know which items are in need of repair.  Get them in good working order so that the buyers will know they are getting a home that has all appliances in good working order.

5.Shampoo or Replace Carpet.  Carpets, draperies, and furniture are the main sources of unpleasant household odors.  If the carpets are less than 5 years old, a good steam cleaning may improve things.  If they are older or stained, it may be time to replace them.  A home with fresh or new carpets is appealing to buyers.

6.Replace Burned out Light Bulbs.  This will assure the buyer that you pay attention to detail as well as making your home lighter and brighter.  Light and bright are quality features.

7.Replace caulking around tubs, showers, and sinks.  If the caulking has mold, is stained, or has missing pieces, replace it.  It is a very cheap way to make the bathrooms begin to look new again.  J

8.Thoroughly Deep Clean Entire House.  Your home must be immaculate and smell pleasant. Give the home a deep cleaning.  No buyer wants to move in to a dirty home.  Pay someone reputable to clean.  It will be worth the investment.

9.Clean UP the Yard.  People love driving up to a well-manicured lawn with flowers growing in the yard.  It tells them that even better things await them inside.

10.Keep up With Pest Control.  Make sure there are no ants, cockroaches, or any other pests to distract buyers from the beauty of your home.

11.Call US to Be Your Realtor.  We can give you additional tips, evaluate the market value of your home, and lead you through the entire process to a successful sale.

Many Austin home buyers may not realize that buyers are entitled to representation when purchasing a new construction home. Keep in mind that the friendly person in the model home represents the builder, not you the buyer.

Builders actively market to agents and they regularly attend local real estate office meetings to provide agents with information on their communities. The builder pays the buyer agent commission out of their marketing budget.

There is also a special publication that Realtors have as a resource that lists the Austin builders, their communities and available homes which can save you the buyer, the time of visiting website after website to see if a community is right for you. Your Realtor can quickly direct you to the communities that fit your needs.

In Austin, it is sometimes required that the REALTOR® accompany the buyers(s) on their first visit. So, if you think you may like to build or buy a new construction home, ask your REALTOR® to accompany you on your search. After all, your agent is there to offer professional advice, negotiate on your behalf and to facilitate resolving any issues that may arise through the process.

As an accredited EcoBroker, I also have a list of green Austin home builders, including custom builders, that incorporate energy efficiency and sustainable building practices for your cost savings and comfort. You can also ask me about the green building features of the ‘national’ builders in the Austin area.

Call Angela Sparks at 512-762-0923 to learn more or build today!