Keep All Goals in Mind When You Get Multiple Offers in Austin

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As a seller in Austin, multiple offer situations seem like a good thing, right? They can actually be difficult to navigate in some scenarios. Multiple factors come into play.

For starters, the highest offer is not always the best offer. We need to look at all the terms of the contract in the offer and how they’ll meet your needs as the seller. When accepting an offer, there are a lot of things to consider. Price is obviously one, as well as how much the buyer is going to put down, whether or not the property will appraise, and the closing time. We want to make sure it’s the best fit for you.

Cash offers are often better than a mortgage offer. Depending on how high the offer is, we may be concerned about the appraisal. With a cash offer, this might not be a consideration. It really depends on your unique situation.

A qualified professional like myself can help you select the best offer. We consider all the terms because ultimately, they need to meet your goals as a seller. We often get a lender involved to be sure that the selected buyer can close. It’s great to be in a multiple offer situation because you have choices, but you need to consider which offer is the best choice for you. In selecting that offer, we want to ultimately make sure it closes for you.

We’d love to be the experts to help you with any real estate questions. Reach out today!

Are You Looking for a Bigger, Better Home in Austin?

Selling in the Austin area?  Get a market analysis report

 Purchasing in the Austin area? Get full MLS access

When you have built some equity in your current home and feel like it’s time to move up into a larger and more comfortable home, what should you begin to consider?

1. You need to know your budget, and this also means that you need to know how much equity you have in your current home. This will help you to calculate how much money you’ll need to put down towards a second home.
2. How long do you plan on staying in the next home? This will dictate where you buy the home, what type of home you buy, and what you should do with the property.
3. Can you afford two mortgages? It doesn’t always happen, but occasionally people can get stuck in two mortgages if they cannot sell their home fast enough. This can be a little tricky, but we often see multiple offers, so it’s possible to buy and sell at the same time. It takes a little patience, but we have done this for many customers before.

If you’re interested in moving up into a nicer home, then I suggest you do so now. The market is performing extremely well, and this is giving you a great opportunity to move into a nicer home.

Contact us for a free consultation to get the process started. We look forward to continuing this conversation with you!

Spring Has Sprung in the Austin Real Estate Market

Selling in the Austin area?  Get a market analysis report

 Purchasing in the Austin area? Get full MLS access

Today we’re excited to share our first quarter market update for Austin real estate. We’ve seen some encouraging signs lately as we enter the busy season, and we’re going to go through exactly what those are right now.

In the first quarter of 2016, we had a very active market. We saw about a 7% increase in our median sales price, bringing our median sales price up to $267,500 for the entire Austin market.

We’ve seen a very active market as of late. We had about 9,000 listings come on the market during the first quarter, with 60% of them selling. Our inventory was also up by about 25% from the first quarter of 2015.

Even with all of the increasing numbers in the market, our average days on market has stayed more or less the same. Homes are selling in an average of about 55 days, which is a pretty quick turnaround.

One more thing we should mention is that we observed a 98.9% list-to-sale ratio for homes in the Austin market. This means that people are really competing for homes, and sellers are getting their way most of the time.

What does all of this mean? Well, we have a very active seller’s market, people are still looking to move to Austin, and if you’ve been thinking of selling, it’s a great time to put your home on the market. If you have any questions for us about your specific situations, just give us a call or send us an email. We’d be happy to sit down and discuss things with you!