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Is the Austin real estate market slowing down? Here are the May 2023 Statistics.

Categories:Austin Texas Information,news
Austin Texas March 2023 Market Stats
Austin Texas March 2023 Market Stats

The Austin Texas real estate market is showing signs of slowing down in May 2023. The median home price is still rising, but at a slower pace than in previous months. Inventory is also increasing, which is giving buyers more options.

Median Home Price:

The median home price in Austin Texas in May 2023 was $585,200. This is an increase of 2.0% from the same month in 2022.

Inventory:

The inventory of homes for sale in Austin Texas in May 2023 was 2,903. This is an increase of 10.0% from the same month in 2022.

Days on Market:

The average days on market for homes in Austin Texas in May 2023 was 25. This is an increase of 5.0% from the same month in 2022.

Where the Market is Headed:

The Austin Texas real estate market is expected to continue to slow down in the coming months. The median home price is expected to increase by 1.0% in 2023, and inventory is expected to continue to increase.

Conclusion:

The Austin Texas real estate market is still a seller’s market, but it is starting to show signs of slowing down. Buyers are now getting more options, and they are starting to have more negotiating power. If you are thinking about buying a home in Austin, now is a good time to start your search.

Additional Information:

  • The Austin Board of Realtors (ABoR) provides monthly housing market reports for the Austin-Round Rock Metropolitan Statistical Area (MSA). These reports include data on median home prices, inventory, and days on market.
  • The Texas Real Estate Research Center (TxREC) provides quarterly housing market reports for the state of Texas. These reports include data on median home prices, inventory, and affordability.
  • The National Association of Realtors (NAR) provides monthly housing market reports for the United States. These reports include data on median home prices, inventory, and affordability.
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Good Credit, Bad Deal? How New Mortgage Rules Are Hurting Homebuyers

Categories:news

If you have good credit, you’ve probably worked hard to build it up. You’ve paid your bills on time, kept your debt low, and avoided any major financial missteps. But did you know that your good credit could actually end up costing you more money when you buy a home?

That’s because of new federal mortgage rules that go into effect on May 1, 2023. These rules will increase the fees that homebuyers with good credit pay for mortgages. The goal of the changes is to make mortgages more affordable for low- and moderate-income borrowers. But it’s also likely to have the unintended consequence of making mortgages more expensive for people with good credit.

So how much more will you pay for a mortgage if you have good credit? It depends on a number of factors, including your credit score, the size of your down payment, and the type of mortgage you choose. But according to the Federal Housing Finance Agency, the average borrower with a credit score of 720 could pay an additional $1,200 in fees over the life of a 30-year mortgage.

If you’re thinking about buying a home in the next few months, you should be aware of these new mortgage rules and how they could affect you. Here are a few things you can do to minimize the impact of the changes:

  • Shop around for the best mortgage rate. Even a small difference in interest rate can save you thousands of dollars over the life of the loan.
  • Make a larger down payment. The more money you put down, the lower your monthly mortgage payment will be.
  • Consider a government-backed mortgage. These mortgages typically have lower fees than conventional mortgages.

If you have any questions about the new mortgage rules, you should talk to a mortgage lender. They can help you understand how the changes will affect you and how you can get the best possible mortgage deal.

Looking to buy real estate in the Austin Texas area please contact us today. OwnAustin.com

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Five Things Home Buyers Always Forget During the Home Buying Process in Austin, Texas

Categories:Austin Texas Information

Buying a home is a big decision, and there are a lot of things to keep track of. It’s easy to forget some important steps along the way, so here are five things home buyers often forget during the home buying process in Austin Texas:

  1. Get pre-approved for a mortgage. This is one of the most important things you can do before you start looking at homes. Getting pre-approved gives you an idea of how much you can afford, and it will make your offer more attractive to sellers.
  2. Research the neighborhood. Don’t just look at the house itself. Take some time to research the neighborhood and make sure it’s a good fit for you. Consider things like the schools, crime rates, and access to amenities.
  3. Hiring a real estate agent. A good real estate agent can save you time and money. They know the market, they can negotiate on your behalf, and they can help you through the entire process.
  4. Get a home inspection. This is an important step that many home buyers overlook. A home inspection can identify any potential problems with the house, so you can make an informed decision about whether or not to buy it.
  5. Be prepared to negotiate. The asking price is just a starting point. Be prepared to negotiate with the seller to get the best possible price for your home.

By following these tips, you can make the home buying process in Austin Texas a little bit easier.

Here are some additional tips for home buyers in Austin Texas:

  • Be prepared to act fast. The Austin housing market is very competitive, so you need to be prepared to make an offer quickly if you find a home you love.
  • Don’t be afraid to walk away from a deal. If you’re not happy with the price, the condition of the home, or anything else, don’t be afraid to walk away from the deal. There are plenty of other homes out there.
  • Get everything in writing. Once you’ve made an offer and it’s been accepted, be sure to get everything in writing. This includes the purchase price, the closing date, and any other terms of the deal.
  • Don’t forget to celebrate! Buying a home is a big accomplishment, so be sure to celebrate when it’s all over.
  • Give us a call here at Own Austin, we would love you help you buy or sell a home today.
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HawkRidge: The Newest Exclusive Gated Community in Southwest Austin

Categories:Austin Texas Information,Important Area Information,news

Introducing HawkRidge: The Newest Exclusive Gated Community in Southwest Austin

Go see the newest community in Southwest Austin featuring estate-sized custom homesites, HawkRidge. This exclusive gated community is located on 88 acres of serene rolling hills, offering a private and tranquil living experience. With expansive acre-plus lots, mature live oaks, a stunning spring-fed pond, and breathtaking views, HawkRidge is the perfect place to call home.

HawkRidge: A Private and Tranquil Oasis

HawkRidge is the perfect place to escape the hustle and bustle of city life. With its secluded location and lush natural surroundings, you’ll feel like you’re worlds away from it all. But don’t worry, you’re still close to all the amenities you need. HawkRidge is just a short drive from downtown Austin and the award-winning Dripping Springs school district.

HawkRidge: The Perfect Blend of City Convenience and Country Living

HawkRidge offers the perfect blend of city convenience and country living. You’ll have access to all the amenities that Austin has to offer, while still being able to retreat to your tranquil oasis. Just minutes from downtown Austin, you’ll have easy access to world-class dining, shopping, and entertainment. And with its close proximity to Dripping Springs, you’ll be able to enjoy all the small-town charm that the Hill Country has to offer.

HawkRidge: The Perfect Place to Build Your Dream Home

HawkRidge is the perfect place to build your dream home. With its expansive acre-plus lots, you’ll have plenty of space to spread out and create the home of your desires. And with its stunning views and natural surroundings, you’ll be inspired to create a home that you’ll love to come home to.

Lots Available Starting in the $600’s

Lots are now available in HawkRidge, starting in the $600’s. Contact us today to learn more about this amazing new community.

Visit HawkRidge Today

Own Austin Homes is here to help you with your new home purchase, Call or email us today to get started.

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How to fight your property taxes in Texas successfully

Categories:Important Area Information
  1. File a written protest with the appraisal district. You must file your protest by May 15, or 30 days from the date the appraisal district notice is delivered — whichever date is later. You can file your protest online, by mail, or in person.
  2. Include the following information in your protest:
    • Your name and address
    • The property address
    • The appraised value
    • The value you believe is correct
    • The reasons why you believe the appraised value is incorrect
    • Any supporting documentation, such as comparable sales or appraisals
  3. If you are a real estate agent, you must disclose this in your protest. You can do this by including a statement at the beginning of your protest that says, “I am a real estate agent and I am protesting the appraised value of my property.”
  4. The appraisal district will review your protest and issue a decision. The decision will be mailed to you. If the appraisal district does not agree with your protest, you can appeal the decision to the Appraisal Review Board (ARB).
  5. The ARB will hold a hearing to review your appeal. You will have the opportunity to present your case to the ARB. The ARB will issue a decision after the hearing.

Property Tax fight Texas

If you are successful in your protest, the appraisal district will reduce the appraised value of your property. This will result in lower property taxes.

Here are some additional tips for fighting your property tax value in Texas:

  • Start early. The earlier you file your protest, the more time you will have to gather evidence and prepare your case.
  • Do your research. Before you file your protest, research the market value of similar properties in your area. This will help you to support your claim that the appraised value of your property is too high.
  • Be prepared to negotiate. The appraisal district may not agree to reduce the appraised value of your property by the full amount that you are requesting. Be prepared to negotiate a compromise.
  • Hire a professional. If you are not comfortable fighting your property tax value on your own, you can hire a professional to help you. A real estate appraiser or a property tax attorney can help you to gather evidence and prepare your case.

Disclaimer: I am a real estate agent and not a tax professional. Please consult with a tax professional to get specific advice on how to fight your property tax value in Texas.

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Central Texas housing market sees another record-breaking 2017 summer selling season

Categories:news

August 2017 Central Texas report provided by the Austin Board of Realtors®.  ABOR has some great articles if you want to visit their site at www.ABOR.com  for more information about all your real needs.

 

Austin Board of REALTORS® releases August 2017 Central Texas Housing Market Report

AUSTIN, Texas – Sept. 19, 2017 – The 2017 Central Texas summer selling season was the strongest on record in terms of single-family home sales and median price across the Austin-Round Rock Metropolitan Statistical Area (MSA). Single-family home sales volume jumped in the city of Austin in August, while median price held steady according to the August 2017 Central Texas Housing Market Report released today by the Austin Board of REALTORS®.

Brandy Guthrie, 2017 President of the Austin Board of REALTORS­®, commented: “The Central Texas housing market just experienced the strongest summer selling season on record. The Austin-Round Rock MSA saw record breaking growth, during which median price topped $300,000 and home sales volume topped $1 billion four consecutive months in a row.”

Read more

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Five Things Home Buyers Always Forget During the Home Buying Process in Austin, Texas

Categories:Austin Texas Information,news

Buying a home is a big decision, and there are a lot of things to keep track of. It’s easy to forget some important steps along the way, so here are five things home buyers often forget during the home buying process in Austin Texas:

  1. Get pre-approved for a mortgage. This is one of the most important things you can do before you start looking at homes. Getting pre-approved gives you an idea of how much you can afford, and it will make your offer more attractive to sellers.
  2. Research the neighborhood. Don’t just look at the house itself. Take some time to research the neighborhood and make sure it’s a good fit for you. Consider things like the schools, crime rates, and access to amenities.
  3. Hiring a real estate agent. A good real estate agent can save you time and money. They know the market, they can negotiate on your behalf, and they can help you through the entire process.
  4. Get a home inspection. This is an important step that many home buyers overlook. A home inspection can identify any potential problems with the house, so you can make an informed decision about whether or not to buy it.
  5. Be prepared to negotiate. The asking price is just a starting point. Be prepared to negotiate with the seller to get the best possible price for your home.

By following these tips, you can make the home buying process in Austin Texas a little bit easier.

Here are some additional tips for home buyers in Austin Texas:

  • Be prepared to act fast. The Austin housing market is very competitive, so you need to be prepared to make an offer quickly if you find a home you love.
  • Don’t be afraid to walk away from a deal. If you’re not happy with the price, the condition of the home, or anything else, don’t be afraid to walk away from the deal. There are plenty of other homes out there.
  • Get everything in writing. Once you’ve made an offer and it’s been accepted, be sure to get everything in writing. This includes the purchase price, the closing date, and any other terms of the deal.
  • Don’t forget to celebrate! Buying a home is a big accomplishment, so be sure to celebrate when it’s all over.
  • Give us a call here at Own Austin, we would love you help you buy or sell a home today.

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