SLOW TIME OF THE YEAR?

I hope you all had a wonderful and relaxing holiday season. Usually, this time of the year the market slows as sellers don’t want to put their home on the market due to the hassle of showings around Christmas and the stress that may accompany a showing. I have noticed that this year Austin isn’t following our normal trend. I had an experience where my buyer’s wanted a house that apparently others did too. This is not rare for Austin but this home was a complete remodel and many heritage trees that would prevent most buyer’s from being able to build the home they wanted to on that type of lot. There were 5 offers on this property, in December, and right around the time I heard on the CBS morning show that Texas home prices would decline by 12% this year (my professional opinion of this statement is for another post). I prayed the out of state buyer would decide to terminate due to the Austin’s McMansion and tree ordinances we have but that contract did go hard and heads to close this week. In the same week another buyer of mine was the winning offer on a home that has been on the market longer than 60 days. Real estate talk is that there were 4 offers on this home, in December, as well. Isn’t this the slow time of the year? If December is any indication of 2015 then Austin will continue to fare well. To those reports of 12% down and Austin is overvalued http://www.kvue.com/story/news/local/2014/12/22/report-states-austin-homes-are-overvalued-by-20-percent/20791629/ it will be interesting to see what lays ahead. I will keep you up to date on what I am seeing with seller’s and buyer’s in Austin as the year begins.

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