Cool Austin Texas Real Estate Blog

Sonoma is a terrific neighborhood located in east Round Rock, just off Gattis School Road.  With two theme pools, two lakes, and a playground area, Sonoma is also located adjacent to the Round Rock hike-and-bike trail system.  It was awarded the prestigious MAX Award for "Best Overall Community" a few years ago.

Currently, there are 34 homes available on the MLS in Sonoma, with an average asking price of $254,778.  The average square footage for these homes is 2,794, for an average price per square foot of $92.03.  This is a drop of over $6/square foot from the previous quarter.

Presently, there are 4 homes under contract in the subdivision, with an average listing price of $265,972 and an average square footage of 2,997, yielding an average price per square foot of $88.75.  This is about a two dollars less than the first quarter of 2008. 

Over the past quarter (April through June 2008), there were 18 sales closed within Sonoma.  The average listing price was $237,026 and the average sales price was $224,290.  This means that homes sold for approximately 94.62% of the list price.  The average number of days on the market was 143, which is almost double the average for the Austin MLS.  The square footage of the homes sold averaged 2,575, and the price per square foot for the sales was $88.  This is a decrease of about $2/sq. ft. over last quarter.

Overall, home prices appear to have dropped slightly in the area, but there was more sales activity (18 homes vs. 12 for the first quarter).  Some of this is assuredly due to the seasonal nature of the Austin real estate market.

In other area news:

Located at the intersection of the aforementioned toll roads (45 and 130), Stone Hill Town Center is slated to open within a few months, and it promises over 1,000,000 square feet of shopping and entertainment.  Home Depot, Best Buy, Chili's, several retail clothing stores, a large Cinemark theater, and a fitness center are among the anticipated tenants.

Here is a link to the developer's map, showing the stores and restaurants committed to open there:

http://www.newquestproperties.com/property_retail/property/Stone%20Hill%20Town%20Center/SitePlan/pfu5-07.pdf

If you are a consumer living in another neighborhood in or near Austin and you are interested in seeing the trends in your particular neighborhood, please don't hesitate to contact me, and I can create a custom report for you.  All of my contact information is below.

If you are considering selling your home in Sonoma (or anywhere in the general Austin area), please feel free to give me a call.  I would love the opportunity to help you get it sold quickly.  You can visit my primary Austin Texas real estate website at www.austintexashomes.com.  You can also reach me anytime on my cell phone at 512-796-7653 or via email at jason@austintexashomes.com. 

Thanks for checking out this brief analysis!

Before getting into real estate, I was a retail and restaurant manager for a few years after I graduated.  My first job out of college was as a rental car manager, then I worked at a local soup and salad restaurant for about two years, then at CompUSA as the customer service manager.  As a real estate agent and broker for the past twelve years, I have seen and solved MANY service issues.

Tonight, I experienced what I believe to be the worst service on record at a restaurant just a few minutes from my home.  My children were frightened, and my wife and I were irate at being treated so badly.

Camino Real Mexican Restaurant and Cantina on Highway 685 in Pflugerville has been officially removed from the Crouch family dining choices forever.  There is only one other local restaurant that I will not frequent, and that is the Applebee's at La Frontera in Round Rock. 

So, I'm sure you are wondering what could possibly have happened to cause such a strong and visceral reaction.  I am happy to share this with you.

We had eaten there a couple on a couple of other occasions, and we liked the carne guisada and some of the other food as well.  In fact, my wife and I had mentioned that we were happy to have a decent Mexican restaurant just minutes away. 

Tonight, all of that changed. 

My carne guisada was tough for some reason, so I didn't really finish all of it.  My wife's enchilada contained Velveeta (which I only found out about later - you will see why soon).  My son took ONE bite of his quesadilla and spit it out, stating that he had lost his appetite and that it tasted "weird".  My wife tried a bite of it, and she said it tasted "kinda like perfume". 

We immediately informed the waitress, who seemed alarmed that we were attempting to return the food.  I asked if we could get the chicken tenders instead, since we had confirmed that there was something amiss with the food.

She disappeared, then another waitress came to the table and confronted my son with the quesadilla in hand.  WHAT!?!?!?!?  You are going to stare down a nine-year old boy and force him to explain what was wrong with his food?  I have never heard of anything like this in my life, but then again, I have probably only eaten out a few thousand times.

I asked if she was the manager, and she said, "No."  I asked if the manager was there, and again she said, "No".  Really?

She told us that we could have the chicken tenders, but that we would be paying for the quesadilla as well.  I told her in no uncertain terms that we would most certainly NOT be paying for the quesadilla, and that we didn't need any additional food. 

THEN, the apparent manager came to the table, scowling and speaking Spanish.  In Spanish, she said (verbatim), "The cheese is good.  If he doesn't like it, it's not my problem."  She seemed surprised when I answered her in Spanish, stating that "No, it's not good".  I again informed all three of them that we were not going to pay for the quesadilla. 

You won't believe what happened next.

She threatened to call the POLICE on us for not paying for this bad food, which cost $4.25.  The patrons at the table next to us seemed extremely surprised and they agreed wholeheartedly that this was ridiculous behavior.  I told the waitress to tell the manager that we were happy to pay for all of the other food and tip, just not the quesadilla, as I was thinking that maybe there was a communication problem?

Instead, the manager brandished the phone, as if she were ready to call 9-1-1 to report theft of food. 

I told the waitress to inform the manager that this was going to get ample publicity, as my wife and I both write restaurant reviews for a number of local sites.  Additionally, I told them that I would be speaking with the local newspaper (and I will).  The waitress apologized profusely for what she clearly knew was wrong.  I tipped her 20% and told her that it was not her fault, but that the manager had just made a big mistake.  I also recommended that she look for a new place to work.  Yes, really.

My wife was far more stubborn than I at that point - "Let them call the police.  I would love for the police to come and sort this out.  Are they going to put our kids in jail?  I am not going anywhere."

The manager finally relented somewhat and offered to charge me 1/2 price for my son's food (which made it TWO DOLLARS) and we paid and quickly left, vowing never to return.  I couldn't help but inform the people walking toward the front door from the parking lot about what we had just experienced.  Frankly, I still can't believe I paid for this type of treatment. 

As a 13-year resident of Pflugerville, twelve of which I have spent selling homes, I know a LOT of people and I help a LOT of people who are moving to the area.  As such, I can easily influence those new residents on their restaurant choices.  I also often take my clients to local places for lunch when we are looking at homes.

Simply put, the manager of Camino Real chose the wrong person to threaten tonight. 

I found another review online for Camino Real in Pflugerville which is titled "Nasty, rude, and slow": http://www.tripadvisor.com/ShowUserReviews-g56451-d983006-r13269113-Camino_Real-Pflugerville_Texas.html.  Apparently, these people were also threatened with police action. 

Unfortunately, you reap what you sow, and they are apparently sowing seeds of anger in their customers.  I predict that they will be out of business within six to twelve months, especially since people have less discretionary income and they are more choosy about where to eat, in my opinion.

To sum up, tonight we experienced the following at Camino Real Pflugerville:

• RUDE AND SCARY MANAGER THREATENING TO CALL THE POLICE IN FRONT OF OUR CHILDREN

• FORCED TO PAY $2.00 FOR UNEATEN QUESADILLA THAT TASTED "LIKE PERFUME"

• TOUGH MEAT FOR MY FOOD and VELVEETA IN THE ENCHILADAS for my wife's food

DO NOT waste your hard-earned money on this establishment.  They are more interested in collecting every dime for the food than about your actual dining experience.  They are also not above scaring your children in the process.  Please understand that at no point did I curse or yell at them - I just didn't think it was fair to pay for food that was inedible and that made my son lose his appetite.

I also find it telling that it is their modus operandi to threaten to call the cops if you try to avoid paying for nasty food.  The other reviewer that I linked to above mentioned that the beans smelled like cigarettes.

If I can prevent one single customer from dealing with this nonsense at the hands of an unreasonable and angry manager, this post was a success in my mind.

 

Falcon Pointe is a 700-acre master-planned community in the fast-growing Pflugerville area. As the largest master-planned community in Pflugerville, Falcon Pointe offers homes priced from the $170,000s to $300,000s by leading builders, along with a popular Residents Club, parks and greenbelt trails. Falcon Pointe is home to three on-site schools, all part of the highly acclaimed Pflugerville Independent School District.

I have lived in the adjacent Blackhawk area for almost six years, so I try to stay on top of trends in the area.

Currently, there are 32 new and resale homes available on the MLS in Falcon Pointe, with an average asking price of $263,876.  The average square footage for these homes is 2,970, for an average price per square foot of $90.43.

Presently, there are 6 homes under contract in the subdivision, with an average listing price of $212,676, and an average square footage of 2,603, yielding an average price per square foot of $88.85. 

Over the past quarter (April through June 2008), there were 9 sales closed within Falcon Pointe.  The average listing price was $262,647 and the average sales price was $244,489 (93% of asking).  The average size was 3,081 s.f., which put the average price per square foot at $81.00 with the average days on market running at 81 days (slightly more than the overall Austin market). 

I have noticed a trend toward larger homes in Falcon Pointe lately, with five homes over 4000 square feet under construction presently.

In other immediate area news:

Located at the intersection of the aforementioned toll roads (45 and 130), Stone Hill Town Center is slated to open within a few months, and it promises over 1,000,000 square feet of shopping and entertainment.  Home Depot, Best Buy, Chili's, several retail clothing stores, a large Cinemark theater, and a fitness center are among the anticipated tenants.

Here is a link to the developer's map, showing the stores and restaurants committed to open there:

http://www.newquestproperties.com/property_retail/property/Stone%20Hill%20Town%20Center/SitePlan/pfu5-07.pdf

Additionally, at 685 and Pfluger Lane, Pfluger Crossing is already open and expanding to 500,000 square feet.  Starbucks recently opened on the northern edge, and other stores there include Wal-Mart, Gamestop, Sprint, and Baskin Robbins.  The expansion will include a Radio Shack location facing Highway 685.  They recently opened a Starbucks there as well.  

If you are considering selling your home in Falcon Pointe (or anywhere in the general Austin area), please feel free to give me a call.  I would love the opportunity to help you get it sold quickly.  You can visit my primary Austin real estate website at www.austintexashomes.com.  You can also reach me anytime on my cell phone at 512-796-7653 or via email at jason@austintexashomes.com.  Thanks for checking out this brief analysis! 

As a six-year resident of the Blackhawk area and a 13-year resident of Pflugerville, I like to keep an eye on the market values here in the area.  When the toll roads opened about a year and a half ago, the prices started trending upward and they certainly have continued to appreciate, even in a slower market.  As a fellow homeowner, this stuff is important to me, too! 

Currently, there are 17 resale homes available on the MLS in the Fairways, with an average asking price of $246,292.  The average square footage for these homes is 2,638, for an average price per square foot of $94.25.  The number of homes is quite a few more than normal right now - last quarter there were just 6 on the market when I ran these numbers.

Presently, there are 2 homes under contract in the subdivision, with an average listing price of $253,741, and an average square footage of 2,947, yielding an average price per square foot of $85.48. 

Over the past quarter (April through June 2008), there were only 3 sales closed within the Fairways of Blackhawk.  The average listing price was $289,118 and the average sales price was $280,000.  This means that homes sold for approximately 96.8% of the list price.  The average number of days on the market was just 27, which is about 40 days less than the average for the Austin MLS.  The square footage of the homes sold averaged 3,247, and the price per square foot for the sales was $87.00.

 

In other area news:

Located at the intersection of the aforementioned toll roads (45 and 130), Stone Hill Town Center is slated to open within a few months, and it promises over 1,000,000 square feet of shopping and entertainment.  Home Depot, Best Buy, Chili's, several retail clothing stores, a large Cinemark theater, and a fitness center are among the anticipated tenants.

Here is a link to the developer's map, showing the stores and restaurants committed to open there:

http://www.newquestproperties.com/property_retail/property/Stone%20Hill%20Town%20Center/SitePlan/pfu5-07.pdf

Additionally, at 685 and Pfluger Lane, Pfluger Crossing is already open and expanding to 500,000 square feet.  Starbucks recently opened on the northern edge, and other stores there include Wal-Mart, Gamestop, Sprint, and Baskin Robbins.  The expansion will include a Radio Shack location facing Highway 685.  They recently opened a Starbucks there as well.  

 

If you are considering selling your home in the Fairways of Blackhawk (or anywhere in the general Austin area), please feel free to give me a call.  I would love the opportunity to help you get it sold as quickly as possible.  You can visit my primary Austin real estate website at www.austintexashomes.com. 

You can also reach me anytime on my cell phone at 512-796-7653 or via email at jason@austintexashomes.com.  Thanks for checking out this brief analysis!

As a six-year resident of the Meadows of Blackhawk, I like to keep an eye on the market values here in our neighborhood.  When the toll roads opened about a year and a half ago, the prices started trending upward and they continue to appreciate.  As a fellow homeowner, this is important to me, too! 

Currently, there are 27 homes available in the Meadows, with an average asking price of $220,201.  The average square footage for these homes is 2,629, for an average price per square foot of $84.53.

Presently, there are 8 homes under contract in the subdivision, with an average listing price of $215,998, and an average square footage of 2,502, yielding an average price per square foot of $85.62. 

Over the past quarter (April through June 2008), there were 13 sales closed within Meadows of Blackhawk.  The average listing price was $220,894 and the average sales price was $214,112.  This means that homes sold for approximately 97% of the list price.  The average number of days on the market was 48, which is about 20 days less than the average for the Austin MLS.  The square footage of the homes sold averaged 2,644, and the price per square foot for the sales was $82.00.

In other area news:

Located at the intersection of the aforementioned toll roads (45 and 130), Stone Hill Town Center is slated to open within a few months, and it promises over 1,000,000 square feet of shopping and entertainment.  Home Depot is already open, and other retail building is getting close.  Best Buy, Super Target, Chili's, several retail clothing stores, a large Cinemark theater, and 24-Hour Fitness are among the anticipated tenants.

Here is a link to the developer's map, showing the stores and restaurants committed to open there:

http://www.newquestproperties.com/property_retail/property/Stone%20Hill%20Town%20Center/SitePlan/pfu5-07.pdf

Additionally, at 685 and Pfluger Lane, Pfluger Crossing is already open and expanding to 500,000 square feet.  Starbucks recently opened on the northern edge, and other stores there include Wal-Mart, Gamestop, Sprint, and Baskin Robbins.  The expansion will include a Radio Shack location facing Highway 685.  

If you are considering selling your home in the Meadows of Blackhawk (or anywhere in the general Austin area), please feel free to give me a call.  I would love the opportunity to help you get it sold quickly.  You can visit my primary website at www.austintexashomes.com.  You can also reach me anytime on my cell phone at 512-796-7653 or via email at jason@austintexashomes.com.  Thanks for checking out this brief analysis!

 

I met my pastor friend today for lunch to discuss the upcoming church that we are starting in Georgetown in September.  As I was turning into the parking lot of the restaurant, I saw a middle-aged man who was about to cross in front of me and I wondered if he would stop or look to see my car (and others) before crossing in front of the traffic.

Mentally, I was screaming at him - "Don't do it!  Please at least turn your head 15 degrees to either side.  You could be mowed down in an instant.  This is a busy shopping center.  What are you thinking?  Are you not thinking?"

Thankfully, I was alert enough to realize that he had no intention of noticing my van barreling down on him, so I slowed to a crawl as he crossed the street on foot, never once noticing that he was nearly killed or injured.

I have often marveled at this fact while driving.  How do some people manage to survive into adulthood without ever being careful?  Only by the hand of God was this man's life spared for another day.

Then, I started to think about the real estate business, and how it requires us to be constantly aware of our own surroundings in order to adapt and survive in turbulent times:

• Would it behoove me to learn more about foreclosures and short sales these days?  I have learned more about this topic in the past several months than I would ever have cared to know previously.
  
• As a broker, should I be hiring more agents in order to increase my chances of having a decent income?  In a nutshell, yes.
  
• Where should I invest my time and money for the best return on my investment?

There have been a few tough years during my career, and I found it to be important to adapt to the changing climate.  For example, the the months after 9/11, much of my job was spent helping my clients to feel comfortable that the economy would in fact rebound (and it did).  Today, I find myself in the same boat, telling buyers that it is a good time to purchase, as the economy will rebound (and it will). 

I got a home under contract yesterday.  The buyer was referred to me by an agent in Idaho who found me online.  When he called to discuss the possibility of referring the buyer to me, he mentioned that he would be interviewing a few other agents, and he also mentioned that the buyer needed to close in the first half of August, as his current home was already under contract.  I asked him how much he wanted for the referral fee, and he said he wanted 25%.

"How about I pay you 30% instead?", I replied.

"Well, that would be GREAT!", he said, "I think my client will really like you.  I will send you the paperwork tomorrow." 

As you can see, the other agents didn't really have a shot at the business at that point.

A few years ago, I might have taken my chances with this referral, because I know that the chances are good that I would get the business anyway.  However, my point here is that I know how scarce motivated AND qualified buyers are in the current market, so why risk it?  I would happily pay 5% extra to ensure that I get that piece of business, and after a few hours of my time, they have already selected a home.  This will likely be a quick $8000 commission for our company. 

In my humble opinion, our business demands that we pay attention to shifting trends and react accordingly. 

Don't let the market run over you.  Pay attention and you will thrive.

 

Copyright 2008  Jason Crouch, Austin Real Estate Broker

I have been selling homes in and around Austin, Texas since January 1997, and I have helped many, many sellers as a listing agent.  I am also the broker and owner of a company with 16 agents, and I train others on how to sell real estate. 

In a nutshell, part of my job is to prevent my clients from making costly mistakes.  I tend to see people make the same common errors, year in and year out.  By making these mistakes, they might keep their home on the market too long, or even, in many cases, keep their own home from selling at all.  I've taken the time to record some of these errors here for your benefit.  This is a long post, so you might consider printing it or bookmarking the page for future reference.

OVERPRICING

Frankly, the price is very important, especially with other underlying economic factors afffecting consumer confidence.  One of the best ways to prevent your home from selling quickly, or at all, is to list it at too high a price.  I'm sure that you don't want to pay too much for things, and neither do potential buyers of your home.

This is a sensitive issue for most people, because we tend to identify somewhat with our homes.  Many people think of their homes as an extension of themselves and their lives.  This is partially true, because our homes are the places where some of the most important events of our lives occur:  the baby's first steps, hugs and time with family, cooking and family meals.

While this attitude is understandable, when it comes time to sell your home, it's necessary to take a different view.  A home sale is a business transaction.  Your home, which you value so highly, and may even still somehow see as "basically new," will not be seen as such to potential buyers who are looking for a home in excellent condition, in a good location at a reasonable price.

Keep in mind that market value is determined by what a motivated and qualified buyer is willing to pay for your home, not simply what you feel it should be worth.

 

 

NEGLECTING NECESSARY REPAIRS

I have had clients who want to get everything perfect before selling, which is a problem in and of itself, but more often as agents we see deferred maintenance items on homes that we are looking to list. 

"What the heck is deferred maintenance, Jason?"

What this means is that sellers are saving money in the short-term by allowing things to remain broken, but when it's time to sell, it's time to fix these items.  It's probably best to put yourself in the buyer's shoes for a moment - would you like to buy a home with problems that the seller refused to fix?  Perhaps if it was priced well under market, but otherwise you wouldn't. 

Another common trait among sellers that we have worked with over the years is the idea that you have negotiated a fair price, so the buyer shouldn't ask for any repairs.  Again, put yourself on the other side of the deal.  While the buyer may be thinking this way, the more likely scenario is that they want the right price AND the right condition.

 

NEGLECTING TO STAGE YOUR HOME

This one is certainly more difficult in some cases than in others.  Every once in awhile, I see homes that are "showing ready", but usually they need some help preparing to show.  First and foremost, de-clutter!  You may be able to throw away a lot of things, or you may need to rent a storage unit, or both if you are in a serious clutter zone.  Regardless, this is an absolute necessity in a competitive market.  Your agent can usually help with some good ideas, or you may wish to hire a professional home stager (highly recommended if you can find a good one).  We know several good stagers who can help.

As a side note, you want to make your home as neutral as possible, in order to appeal to the broadest spectrum of buyers.  Home builders have known this for years, which is why they hire professional decorators to assist with the design and staging details.  You want to eliminate any odd decor items that may appeal to your unique sense of style, but which may appear strange to buyers.

 

 

 GETTING HUNG UP ON SMALL STUFF

I worked on a ranch sale years ago that was a multi-million dollar transaction, and it was almost blown over the deer feeders, which probably cost $1000-2000.  When you are selling your home, keep the big picture in mind rather than allowing yourself to get hung up on something small.  Another example would be refusing to pay for a necessary repair (you will have to do it no matter what if you really want to sell), or not paying for a one-year limited warranty.  Is it really worth blowing your sale over something little? 

 

 

 

TURNING A BUSINESS ISSUE INTO AN EMOTIONAL ISSUE

As I mentioned above, a home sale is really just a business transaction, although it can often be difficult to make this distinction when you have so much of yourself invested in your home.  I have had a number of occasions when my clients did not personally like the people buying their home, but I have to gently remind them that they will not have to deal with them very long, and then they can move on with their lives.  Don't allow your emotions to prevent you from getting your home sold.  If you don't like the buyers, it really doesn't matter, as long as the terms are agreeable. 

Keep the big picture in mind and move forward.

 

 
TRYING TO SELL IT YOURSELF

Nationally, over 80% of the homes listed "for sale by owner" end up listing the property with an agent.  Clearly, this is a very low success rate.  To be sure, there are exceptions, such as when you are in a VERY hot area with good drive-by traffic.  Statistically, you actually stand a better chance of opening a new restaurant than you do of selling your own home.

If you do decide to "go it alone", keep in mind that you are responsible for screening everyone that sees the house, and for being available during the day for showings.  You also need to familiarize yourself with the contracts, and find a suitable office to close the transaction.  Add to this the relatively new challenge of tighter mortgage guidelines (Can this buyer truly qualify to buy the home?). 

These are all details that your agent can and will handle for you.

 

 

CHOOSING THE WRONG AGENT TO REPRESENT YOU

If you choose the wrong person to list your home, this is something that is difficult to overcome during the sales process.  If the agent has a bad, pushy or argumentative personality, no matter how experienced they are, RUN the other way!  Having a dishonest agent is another terrible situation to be in as a seller. 

Some agents will mislead you in order to get you to accept an offer that won't work for you, or they may try to scare you into thinking that your home won't sell at all unless you drop the price dramatically.
Primarily, you want someone who is friendly, loyal, honest, and who has your best needs in mind.  Next, knowledge of the market is important - make sure you understand what you are competing with, and which homes have recently sold.  Lastly, an agent with good marketing skills is worth their weight in gold.

 

 

NOT TRUSTING YOUR AGENT (unless it's the guy above)

Now that you have hired the CORRECT agent, trust them to do their job, unless you are given a strong reason to think otherwise.  This includes allowing the agents to communicate on your behalf, rather than attempting to speak directly with the buyers.  In some cases, it is necessary or even advisable for this to occur, but usually it doesn't help matters, especially during the negotiations.

In addition to selling lots of homes, I have watched a bunch of the home-selling shows on TV, and time and time again, I am able to predict the outcome (price, problems, etc.).  This comes from experience, and it is something difficult to teach or to learn from a book.  Trust that the advise your agent gives you is solid, as this is what they do every day.

 

 
SELLING AT THE WRONG TIME

Selling with bad timing can happen at least three different ways:

a. you are selling and you don't know where you are going,

b. you put your home on the market immediately before you have to move, or

c. you are selling at the wrong time of year. 

If you have no idea where you are going to buy next, it's probably not great to put your home on the market, unless you simply cannot afford your home anymore, or if you are in imminent danger.  The inevitable outcome of listing too soon is that you will receive an offer from someone who wants to move in right away, and you are forced to either reject the offer or move to temporary housing, then move again when you find the right home.  If you are like me, you don't enjoy moving, so why put additional stress on yourself?

If you are building a home with a particular timeline in mind, or if you are starting a new job and you have some time to prepare, don't wait until it's too late to get your home listed.  You don't want to leave the home vacant and (worse) have two house payments while you are trying to sell.  It's never too early to contact an agent and ask when you should list, with your particular needs and timing.

We sometimes have clients who spend too much time getting their homes ready to sell, and they miss the big selling window in our market.  Don't spend an inordinate amount of time preparing your home and end up missing the primary selling season in your area.

 

 
NOT GIVING POTENTIAL BUYERS ACCESS TO YOUR HOME

This is a critical point: buyers DO NOT work around your ideal schedule. If it is a reasonable time of day (i.e. you are awake and most normal people also are), LET THEM LOOK.  Even if things are in disarray, LET THEM LOOK.  Even if the buyer's agent doesn't give you any notice, LET THEM LOOK.  Although I always try to prepare for showings the day before they happen (or at least several hours ahead of time) and I train our agents to do this, there are times when a buyer will spot a sign and ask about a particular home that is not on the list.  Sometimes, they buy this home.  Keep that in mind when you have your home listed. 

Another good point which warrants mentioning here is to get out of the house when buyers are looking.  Preferably, this means going for a walk or going to run errands, but at the very least, go outside and give them some privacy while they are looking with their agent.  Buyers never feel at ease when you are in the home hovering around them.  LET THEM LOOK on their terms.  If you are concerned about valuables, lock them up somewhere.

 

 

 

BUYING THE WRONG HOME IN THE FIRST PLACE

This is another area where having a good agent comes into play.  A good quality agent will prevent you from buying something that is not a wise decision (next to railroad tracks, under a freeway overpass, etc.).  If you can make a smart decision on your purchase, when it is time to sell, you will be much happier.  You can't change the location of your home once you have made the purchase. 

 

Although this is not meant to be an exhaustive list of important items when you are selling your home, these are among the most common problems that I have seen personally.  I hope you have found this list to be helpful.  Please feel free to contact me (Jason Crouch) at 512-796-7653 (cell) or by visiting our Austin Real Estate website at http://www.austintexashomes.com.  I look forward to helping you with your sale!

When I was a kid, I used to spend a lot of time at my grandparents' house in east Dallas.  Actually, it was a smallish duplex with an enormous lot and a detached garage.  My grandfather had a large garden out back, along with some peach trees in the sideyard, and I used to help him with watering sometimes.  I would always start out with good intentions, but inevitably it would devolve into me bending the hose and cutting off the water supply, then uncrimping it a little bit to spray the water using the pressure that had built up. 

Often, when I was attempting to stretch the hose to get to a faraway patch of grass or the last tree in the line, the water would stop altogether and I would be forced to backtrack and figure out where the problem lay.  Usually, the garden hose was knotted, or bent around the corner of the house too tightly.

Much like that garden hose from thirty (or so) years ago, the real estate market and the economy in general are filled with "kinks" right now:

GAS PRICES - Who could have anticipated the long-reaching effects of higher gas prices?  Groceries cost more, and many people have curtailed their driving habits quite a bit in order to save money.  Gas was about a dollar less per gallon at this time last year, but the lag effect was not being felt yet. 

PRESIDENTIAL ELECTION - I have been in real estate almost twelve years now, so this is my third election season "in the business".  In 2000 and 2004, at least locally, we experienced relatively difficult years leading up to the election date.  Notice that I said "relatively".  The previous election years were a little uncertain, but they weren't coupled with some of the other factors that exist today.  I honestly believe that it doesn't matter who wins the election in November.  Just having it out of the way will allow us to stop thinking about it.

MEDIA - This is a biggie, at least in my humble opinion.  The media has turned its lens on the hurting housing market nationally, and the fact that prices have fallen, again on a national level.  Here in Austin, we saw a 12% increase in prices from 2005 to now, but the national media is simply louder and more universally respected, even though the local guys have a better handle on what is happening.

MORTGAGE CRISIS - Another big one.  I won't assess any blame for this debacle in this post, but I will say that banks are now so skittish about lending money that I recently had a deal delayed for nearly a month with borrowers who had 700+ FICO scores and 20% down.  What!?!  Unfortunately, current buyers are being punished for mistakes made by lending institutions for the past several years.  I won't even delve into the details of the Fannie Mae and Freddie Mac issue here.   

All of the above factors (and more) lead to this last one, which really determines which course things will take:

PERCEPTION - This is the single biggest issue that we must overcome in the real estate and mortgage business.  People are uncertain whom to believe these days.  Will things improve soon?  Will interest rates be higher if I wait? 

Simply put, it is our job and our responsibility to assuage fears for our clients.  Locally and across Texas, things seem to be fine, but people are still putting off their decisions because they perceive that "things are bad right now".  It is most assuredly part of our job decription these days to provide comfort and stability in unsure times.

Believe me, when this perception begins to shift in a positive direction, people will begin to ACT, rather than SIT, and this is when real and substantive change will occur.  I recall after 9/11 that I saw much the same dynamic in play.  Back then, with the exception of the stock market, most underlying economic factors were sound, but people were afraid to act, because of the aftermath of the attacks and the general sense of uncertainty that was pervasive at the time.  When the media began to report positive news again after a few months, the perception began to turn, and (surprise) the market improved dramatically.

Marketing 101 states that "perception is reality".  Never before have I seen this more clearly than in 2008.  In Austin, Texas, our market is actually just fine, but I am still in a constant uphill battle against the national media to convince my local clients to act.  At times, this seems like an almost Sisyphean task.  (In case you are not familiar with Sisyphus, he was the mythical king from Greek mythology who was punished by being forced to roll a boulder up a steep hill, only to watch it roll down to the bottom.  Then, he started all over again.  And so it goes with my clients lately.  I seem to have the same conversation almost daily about how things really are).

Much like the garden hose from my childhood, I know that from my experience there is a pent-up demand building up pressure.  Locally, we have seen rental home vacancy rates drop to 1.5%, which is probably a historic low.  People are unable to sell their homes in other markets, and they are concerned about whether this is a good time to buy.

We may not need to unkink every spot in the hose for things to improve.  Perhaps it will be gas prices alone, or getting beyond the fall election.  Either way, it WILL improve at some point. 

So, are you doing your part to help with consumer confidence when it comes to real estate?  If we don't do it, we certainly can't depend on anyone else to help.

Copyright 2008  Jason Crouch, Austin Real Estate Broker

My wife and I took our three children (9 7, and 2) to Pecan Street Station yesterday evening.  They recently built a new location next to the Pflugerville Library.  Truth be told, we never went to the old location up the street, because it had more difficult access and parking.  In fact, I hadn't actually made the connection that it was the same establishment, with the new and expanded place.  They moved about four or five weeks ago.

Upon entering, I noticed a very fresh-looking salad bar to the right and some friendly faces at the counter.  Then, we were struck by how reasonably priced everything was.  A quarter pound burger for $2.59?  All-you-can-eat salad bar for $5.99?  WOW!

Clearly, they are doing something right, or perhaps they pay more than average wages, but everyone working there was impossibly friendly, from the girl at the front counter, who took time to compliment our kids, to the salad bar guy, who struck up a nice conversation with me, to the manager, who kidded with my son.

Overall, they just simply seemed happy to be there, and for that I was thankful.  It's nice to visit a place where people are pleased to have you.

I opted for the salad bar, and my wife had the grilled chicken sandwich.  Our girls each had the kids' hot dog meal, and my son had a grilled cheese. 

While we were eating, my wife and I chatted about the fact that Pecan Street Station was exactly the type of place that we will likely frequent, since we can get healthy food and the kids still enjoy their menu, too.  Their meals were served in a cardboard "space car" along with finger puppet toys.  My older daughter kept the car and brought it home with her.  Essentially, it's like being able to get higher-quality food with McDonald's perks.  The only thing missing was a playground. 

After dinner, we went next door to the library and spent some time picking out books.  It was a great evening, followed by a swim at the Meadows of Blackhawk pool.

I hesitate to say that it was perfect but it was darn close.  The food was awesome, and our total was a mere $26 for a family of five.  We met a neighbor family last night the pool, and they raved about the inexpensive and generous breakfasts at Pecan Street - maybe that will be the next item on our agenda.

HIGHLY RECOMMENDED EATING!  Check it out when you can.

We listed a brand-new spec home in southwest Austin yesterday, in the Brodie Springs subdivision, at 3328 Azalea Blossom Drive.  It is currently under construction by Grand Haven Homes, and it's nearing completion, probably in August. 

 

 

 

• 5 Bedrooms, 4 Full Bathrooms
• 4024 s.f. per builder
• 3 Living areas, 2 dining
• 0.30 acre lot (13,608 s.f.)
• 3-car garage
• Stone and stucco exterior
• Fabulously upgraded
• Convenient to the intersection of Brodie and Slaughter Lane

 

 

 

 

 

This home is offered at $616,770, and should be completed within the next month or so.

 

 

 

 

 

If you have any questions, or if you would like to take a look inside this home sometime soon, please feel free to give me a call at 512-796-7653 (cell). 

I look forward to hearing from you soon.  To see all of our Austin real estate listings, check out my website at http://www.austintexashomes.com.  Thanks!