Steiner Ranch Real Estate

Qs: What are the limitations involved in selling my own home?

• Valuation - Research shows that, on average, homes sold by their owners sell at prices 20 percent lower than homes sold by REALTORS®. Given that cost is a primary reason most consumers sell their own home, this statistic reveals they often take on that additional hassle and risk while actually decreasing their earnings.
• Inaccurate pricing - Like many homeowners, unrepresented sellers tend to believe their home is worth more than comparable homes in the same neighborhood. Unfortunately, this leads to their home staying on the market longer and eventually achieving a lower valuation anyway. REALTORS® have expertise in pricing homes for sale and will ensure your home is sold at the best price, quickly and with minimum hassle.
• Access to the MLS - By far the largest and most accurate source of information regarding properties for sale, the Multiple Listing Service (MLS) is the primary information source home buyers consult when represented by a REALTOR®. Thus, unrepresented sellers often are unable to reach this large group of prospective buyers.
• Intimidated buyers - Research shows that potential buyers spend less time in a home if the owner is present. They often feel uncomfortable discussing their opinions of the property if the owner is present and are less inclined to make an offer if they know they’ll be negotiating directly with the seller. Thus, the pool of prospective buyers is limited further.

Qs: REALTORS® are great for people who want to avoid the hassle, but I’m an educated, do-it-yourselfer. What harm is there in cutting out the middleman?

Most sellers who begin the process without representation by a REALTOR® end up by listing in the end, as evidenced by a recent National Association of REALTORS® survey that found only 11 percent of sellers actually sell on their own. Real estate transactions are fraught with potential liability and it’s easy for consumers to stumble into legal trouble. A seller that overlooks even one required form or legally mandated disclosure could face a lengthy and expensive buyer lawsuit after the transaction closes. Working with a REALTOR® ensures every part of the transaction is compliant with real estate law and can help you avoid the many pitfalls possible between the initial sales agreement and closing on the home.

For those interested, Bellagio Estates is hosting a “Stud Party” on Thursday, November 6th from 3-6 pm. Please contact Jean Barreiro at Zbranek Custom Homes for details at 512-216-0444 or jean@zcustomhomes.com

14132 Flat Top Ranch Road is located in Bellagio Estates of Steiner Ranch.  Take 620 to Quinlan Road, to Steiner Ranch PKWY, turn right to Flat top Ranch RD.  Go all the way down Flat Top through the gates to the first house ( frame ) on the right.

2. Why use a REALTOR® when just sticking a sign in the ground will attract multiple buyers?
In a hot market, can a sign attract buyers? Sure. However, unless your home is priced properly
and you can successfully write a solid contract, you will leave money on the table or fail
to sell your home. REALTORS® are intimately familiar with real estate law and the closing
process. When you chose to work with an experienced professional, you are making a solid
investment that is usually repaid with a higher sale price and lower legal liability.

1. Are more consumers trying to sell their homes on their own these days?
No, it just seems that way. When mortgage rates are low and the housing market is active,
home sellers view the process as easy and become more likely to sell on their own.
Conversely, when mortgage rates are high and the market cools, those same consumers
turn to experienced REALTORS®. In any market, it’s proven that home sellers represented by
a REALTOR® achieve a 20 percent higher home value statewide than those sold by owners.

I just came across this really neat virtual tours solution, Property Panorama, and what more at a very good price - For just $5 per listing, Property Panorama helps you create and distribute virtual tours.  Each tour includes options for creating podcast tours, video tours and mobile media tour.

If you are listing your own property as a sellers (For Sale By Owner) you may want to consider using their service. If you have a website, you can post this tour there as well.

Has anyone driven all the way down on Quinlan Park? There are a few ways you could go end the route.. one popular destination is of course Lake Austin Spa and Resort, the other a small park with parking spots for boats into lake Travis, and then the open air clubhouse with a playscape for kids etc.

When I drove on this street about 4-5 years ago, of course there were not as much constructed roads in some areas, but interestingly I saw nice size lots for prices between $45K-65K. I had recommended a couple of those to some of my clients at the time. Now this HOA-less area is changing, and in fact has been changing so rapidly over the past 1.5 years, its almost amazing. For those who do not like to live in a managed subdivision or want to live really close to the lake, this formed a really good solution since they either remodelled an old house or built a brand new one. You can see some nice houses there on the streets. I hope it continues to get cleaner, and nicer over the years.

Not to mention, some really nice appreciation was seen over the past 2 years for any lots listed in the 78732, Steiner Ranch subdivision but not through a builder. I saw some nice flips as well… as success stories.

Taylor Morrison and Drees Custom Homes have opened their model homes for visitors. Location of Emerald Ridge has the benfit of nice hill country views, overlooking the Selma Hughes park in distance, depending upon the elevation of the homes.

All homes sites will have 80 ft lots and start from the upper $500’s. Although Drees quotes a starting price of $494,900. In my opinion, the price/sq ft for Taylor Morrison homes seem to be higher than the Drees custom homes list price, perhaps the former builder features better basic features and upgrade packages, need to check them out sometime this weekend. TM also has some inventory homes for those who need to move in immediately.

In the midst of all the financial and mortgage crisis, the deduction however is that Austin is the most stable, Austin is the place where lenders are less hesitent in giving out loans, both commercial and residential. Of course no-money down loans are a dream now, that may not come true.

The average sales price in area NW for 3rd Quarter in 2008 is higher($243,860) than what it was in 3 Quarter in 2007($242,570).

Some builders(D R Horton, Centex Homes, etc) are pulling out of major home development projects, or holding off, since there’s a major inventory to be cleaned up already at the end of this year. What does this mean for buyers? Free upgrades, incentives, good deals on new homes - cant be a better time to buy a house.

Resales are a slightly different story. A recent article from Stateman said:

Austin has several factors in its favor. Job growth has slowed significantly in the past year but remains about 2 percent, compared with heavy job losses nationally.

“We continue to have high-paying jobs move here compared to other markets,” Sprague said, citing the money management firm Dimensional Fund Advisors as an example. The firm moved from California to Austin in the past year, occupying a brand-new office building in West Lake Hills. “As a state, we created more jobs than the next 14 (highest-ranked) states in job creation, so we’re in a good place.”

Builders also are closely watching the resale market, where the 10,300 listings in August were the fourth-highest on record, according to the Austin Board of Realtors. That is substantial competition for new-home sales.

The resale median price has continued to rise. But there are early signs that could be changing. The August median of $195,000 was up just 2 percent from a year earlier, the smallest increase since September 2005, when the median rose 1 percent.

“Resale in a good location is still selling; it’s just not selling at prices that people were able to get two years ago,” said Helen Edwards, Central Texas regional president of Coldwell Banker United, Realtors.

“We’re seeing signs of activity on the new construction product, new homes that are priced aggressively, so we know that the buyers are still active in the marketplace,” Edwards said. “Plus, we’re hearing loud and clear from many of our sellers that they’re comfortable with lowering their listing prices if it means getting offers and selling quickly.”

The model home for Taylor Morrison’s new Tierra Grande subdivision is open now. They feature some good floor plans starting from $239,900 up to $320,900 as of 10/06.

The site plan from Taylor Morrison’s site is here:

Homeowners now need to be doubly careful if their house is priced in the mid-200’s and they are planning on selling it in the near future or is on the market currently. Take extra measures to make the listing appealing to a buyer, make sure the house is in perfect condition for all showings.