Category: Location (2)

Everyone has heard how important location is regarding business location, or location for a residence.  Close in neighborhoods offer a degree of convenience that can be an asset.  However more important than location is price.  Just about any home in the Austin area can be sold if the price is right.  Unfortunately some sellers have unrealistically high expectations for how much their house will sell for.  Having a real estate professional help you price your home correctly will help you avoid over, or under pricing your home.
I recently started watching a property I had noticed on the market.  What caught my eye was the asking price.  I also noted the price the home was sold for a few years ago.  The home was listed for over $100,000 than the owner had purchased it for.  I noted the current owner had only bee in the home for two, or three years and no major improvements, or renovations had been made.  At best and according to the comps I noted in the area, this home should have been listed for perhaps 12% higher than owner asked for.  That 12% percent is assuming an appreciation of 4% per year, which for the area is probably a little high.
When a buyer lists their home at a price that far outstrips the norm for the area, that buyer faces two prospects.  One is having the house sit on the market for many months, or having to make significant reductions in price in order to sell.  In the case of this particular home, the price has been reduced six times in six months.  One, or two price reductions usually is not a problem.  However three or more price reductions sends negative messages to prospective home buyers.  The best thing to do before you have your home listed is to employ a trusted real estate agent and listen to his, or her advice on pricing.  That agent will be able to look at what the trends are in housing prices.  That agent will also tell you thathousing prices are generally dependent on what comparable homes have sold for in that specific area.  Home price averages can vary by neighborhood, or even by block, or street in some cases.  The well trained real estate professional can advise you on the best listing price for your property.
Austin Real Estate - Feral Hogs

Those damn hogs!

Well pardon the language, but what else can we say in Texas. And what do hogs have to do with anything anyway??? First, Texas, like a number of other states in the country, is being over run by feral hogs. The damage they do to private property and crops totals in the billions of dollars. So what do hogs have to do with real estate? Well if you live in the city limits, or a rural HOA in Texas, your local governmental laws may limited your ability to protect your property from hogs. Before you move into a community, make sure you have read the covenants and laws of that community. This is especially true if you are looking to move in to a HOA governed community. The commmunity I live in has a hog problem. When we first looked into allowing homeowners shoot hogs, we found that our community restrictions and local county restrictions prevented us from shooting hogs on our own property. The Texas legislature, several years ago thought it was a good idea to make changing HOA covenants much more difficult, but the real consequence is it is now far more difficult to implement some measures to control vermin. Alternatively, we have allowed for electric fencing and we have a hog trapping program that works. Unfortunately, the large number of hogs and their prolific reproduction rate means we are not making much headway on the problem. The bottom line is, make sure you obtain and read your covenants. Where most people run afoul of HOA’s is by not adhering to the printed rules of the community. Those damn hogs cannot read, but you can.