Tag: Austin Broker

Two Scenarios After Your Offer Is Accepted On A Home

Posted on by author

If a seller accepted your offer, congratulations! You are one step closer to owning a home or property. What happens now can vary, but I’ll cover the different scenarios below. In this blog, we’ll cover the two most common scenarios and in our next blog post, we’ll cover the scenarios if you or the seller wants to back out.

Scenario 1: You Sign the Purchase Agreement

This scenario is the most natural progression after an offer is accepted. Signing the purchase agreement means the property is under contract since the agreement has been accepted in writing and signed by both parties. It will include the following information:

  • Identification of participating parties (buyer and seller)
  • Legal description of the property
  • Financial details
    • Purchase price
    • Buyer financing
    • Earnest money deposit amount
    • Closing costs and how it will be split between buyer and seller
  • Condition/specifics of the sale
    • Contingencies
    • Items conveyed in the sale (appliances, fixtures, etc.)
  • Timeline
    • Contingency time frame
    • Offer expiration date
    • Closing date
  • Condition of the home
  • Property disclosures
  • Relevant seller concessions, repairs, or credits

After the purchase agreement is signed and the earnest money is deposited, you now have the legal right to purchase the property. The signing and returning of the purchase agreement with the buyer’s earnest money deposit is the process of moving the sale into escrow.

Scenario 2: The Seller Wants to Negotiate

The seller might like your offer but can still negotiate some terms, so it’s in the seller’s favor. The seller can negotiate by submitting a counteroffer. This is why having a good buying agent is crucial, as they are the key to helping you navigate the negotiation process and helping get both parties what they want. Negotiations can include:

  • Increasing the purchase price or down payment
  • Removing/editing contingencies
  • Adjusting the length of closing schedule
  • Modify seller concessions/contingencies
    • Seller repairs or credits
    • Excluding certain items from the sale
    • Property transfer deadline, also called the seller move out date

Once both parties find terms agreeable to them, a purchase agreement will be drafted for both to sign. Then the buyer can move forward with purchasing the property.

If you need help navigating this fast-paced seller’s market, contact me today! I’d love to help you find the home of your dreams this year. Reach out to TALK Property Management–we are here to help: (512) 721-1094 or dbrown@talkpropertymanagement.com.

Summer 2021’s Hottest Decor Trends for Austin Homes

Posted on by author

Summer is here, and it’s time for your home to reflect the temperature change! These decor trends are timeless and regret-proof, as they’ll go with anything already in your home. 

1. Throw Pillows

Throw pillows are the quickest and cheapest way to upgrade your seating area. Enhance a neutral couch or chair with a bright color or bold design. You can layer complementary hues and textured fabrics to add depth. The beauty of pillows is all the fun shapes and colors they come in! 

2. Duvet Covers and Sheets

New bedding will transform a bedroom, plus it’s a fun way to keep you and your bedding clean. Options include a botanical print, graphic designs for a contemporary look, or patterned sheets and sham for a more subtle approach. 

3. Bath Mats and Towels

Another easy and hygienic change is a new towel and mat set. Earth-inspired hues and unique textures like terra-cotta or clay-colored bath towels will give you a spa-like feel in your own bathroom. For maximum comfort, make sure they’re absorbent and soft on the skin! 

4. Bowls and Vases

These small decor items will enhance a room when they’re strategically placed. It’s essential to find the balance between clutter and decor when choosing bowls and vases. That’s why stylish and functional pieces are recommended. Examples could be a painted bowl or plate, an antique mirror, a sculptural vase for flowers, etc.. Sculptural vases and planters are the trends this summer. 

5. Rugs

A new rug will add comfort, protection, and style to any area and flooring type. Area rugs are great for families with children because it helps soften the room, while also offering a chance to add in a new color, pattern, or trend into the room. The summer trend is neutral color palettes with an over-the-top texture like a plush pattern. 

6. Accent Lighting

Lighting can easily be changed, even on light fixtures you own. Options are buying a new light fixture to follow the trend or adding a new shade to your existing fixture. It can be as inexpensive and creative as you’d like. 

If you need help decorating your property for renters this summer, contact us today! As part of our services, we make your property ready; whether that’s decorating or remodeling, we do it all! We are here to help: (512) 721-1094 or dbrown@talkpropertymanagement.com.

Why You Need To Invest In Austin Real Estate Now

Posted on by author

In the Wall Street Journal/Realtor.com’s Emerging Housing Markets Index, Austin won second place. The report looks at the return on investment and the livability of the country’s 300 most populous metro areas. It also looks at the metro’s real estate market like real estate supply and demand and median list price and economic health like unemployment rate and daily commute times. The ratings help identify locations that are good places to invest and where you’ll enjoy living. Here are a few reasons why you should invest in Austin real estate now. 

Businesses Are Relocating to Austin

The Austin Chamber of Commerce has listed about 50 companies expanding in Austin or moving to Austin. Some of them are popular ones like Amazon, Tesla, and FedEx. Apple is continuing to grow with its 1 billion dollar campus. Zoho, a software company, is moving its headquarters to Austin. 

Even without businesses relocating, Austin is home to major employers like Apple, Ascension Seton healthcare headquarters, Cisco Systems, eBay, Facebook, Google, and so many more. 

Austin’s job market is constantly growing and bringing people in as businesses continue to relocate and set roots in Austin. 

Population Is Growing

The U.S. Census found that Austin is one of the fastest-growing major metro areas in the country. According to CBS Austin, our beloved city has also been #1 in population growth for eight years in a row. From that same Austin Chamber of Commerce list, at a minimum, each company creates ten new jobs. Just the Amazon Fulfillment Center in San Marcos is expected to bring in 2,000 jobs! Apple’s new campus is expected to bring in 5,000 jobs. Zoho’s relocation is bringing up to 500 people.  

It’s been estimated that about 100 people move to Austin each day. Austin’s population has doubled every 20 years. Austin’s population is expected to double by 2040 and reach 4.5 million residents. 

Home Prices Are Increasing

Currently, we’re in a seller’s market as inventory in the Austin-Round Rock area reaches 0.4 months, according to the Austin Board of REALTORS® March statistics. A seller’s market works in favor of sellers as they now have the option to accept the best offer. This usually means buyers will try to outbid each other, and the seller will receive multiple offers, most offering over the list price. The median sales price has increased almost 30% to $425,000 compared to March 2020. These prices aren’t stopping anytime soon as supply is still low, and it won’t be changing soon. That’s why you need to invest now; get the best deal now before it’s too late! At TALK property management, we are dedicated to providing you with the best service. And as your real estate agent, I can help you find the smart investment properties that will give you a return on investment. 

 

If you’re ready to start your investing journey with me, contact me today! Reach out to TALK Property Management– We are here to help: (512) 721-1094 or dbrown@talkpropertymanagement.com.

3 Popular and Affordable Home Improvements to Add Value in 2021

Posted on by author

Home improvement projects were all the rage during quarantine as more and more people spent time indoors. But the trend isn’t stopping yet. Many are taking advantage of the savings from lockdown and improving their home’s comfort. Discover Home Loans survey revealed that 58% of people are planning home improvement projects this year. 83% of those said a more comfortable home was their primary motivator. Here are the most popular and affordable home renovation trends for comfort this year. 

Bathroom Improvements

According to a HomeAdvisor survey, a bathroom remodel is the most popular planned renovation this year. The bathroom is a place we spent a lot of time in, so it must be comfortable, efficient, and practical. Modern toilets, faucets, and showerheads are aesthetically pleasing and also help conserve water and lower costs. 

The average bathroom remodel cost last year was $13,401, according to HomeAdvisor’s True Cost Report. While this may seem like a lot, this is more economical than a kitchen renovation that costs an average of $35,000. 

Interior Painting

HomeAdvisor reported that interior painting was the most popular project and the second most planned project this year. This project has an average cost of $2,007, which is the best inexpensive upgrade that significantly impacts the home. 

If you’re painting to sell your home, it’s best to choose neutral colors. Neutrals will work with any style and help the buyer visualize their furniture in your home. 

New Flooring

This popular and affordable project is the third most planned renovation project this year. It has an average cost of $4,680. Replacing old and worn carpet, tile, or wood will increase the home’s comfort and add a unique design feature. This is beneficial since it makes the home more attractive if you’re selling. 

If you need help choosing materials or what high return on investment projects to implement, contact me! Reach out to TALK Property Management– We are here to help: (512) 721-1094 or dbrown@talkpropertymanagement.com.

 

How To Open Spaces with Glass

Posted on by author

When you think of glass in a house, you think luxury, modern, and clean. Some other mental images are natural light and views. But whether you know it or not, glass is a material that can transform a home. Here is how to use it to open up your indoor and outdoor spaces. 

Stairway

A glass stairway helps emphasize the interior architecture and unblocks sightlines. A clear, low iron glass creates a more spacious look. Low iron will remove the greenish tint you sometimes see in clear glass. The popular style is a frame with posts framing the glass infill. For indoor staircases, standoff pins are a fantastic high design frameless look.

Interior balconies

Balconies made of glass will help create an open, airy effect as the scenery can enter the home and be seen from anywhere. It will also remove dark, separated areas with its influx of natural light. Talon spigots are a good option for glass railings to create an uninterrupted view. Another option is a slim stainless steel top rail. 

Exterior balconies

Exterior balconies create a picture-perfect view of nature. With no interruptions, it’s a great option that also blocks wind. If the clear glass is too vulnerable, frosted glass is a good option too. 

Guardrails

If there are guardrails inside the home, help open the floorplan with glass. The glass will enhance the room’s width and openness. It also creates a modern look. Laminated glass is a good option if you want a frameless option as there are layers of glass. 

 

If you’re ready to renovate to glass and get the highest return on investment, contact me so we can get started! Reach out to TALK Property Management– We are here to help: (512) 721-1094 or dbrown@talkpropertymanagement.com.

Property Management During COVID-19

Posted on by author

Property management in a normal market is a complex industry. There are several complicated moving parts from understanding the current real estate market to staying informed of changing leasing and fair housing laws. Now, take that complex market and add the impact of COVID-19, and property management has become a moving target. 

What do you need to know regarding leasing and property management in Austin during the COVID-19 concerns? 

Tenants who are having trouble paying rent or other fees due to COVID-19 complications can establish a temporary, flexible payment plan with property owners and landlords. As a Texas REALTOR®, you can access the agreement form by clicking here.

Although tenants have the right to ask for assistance in payments, they cannot refuse access to the property in fear of virus-related consequences. They must follow current agreements for entering the property, and if property owners choose to screen those viewing the home, they must follow fair housing guidelines. However, if the tenant is at a higher risk of developing an illness, they may have different rights. When considering accessing a home with a fearful tenant, property owners and managers should move slowly and carefully with respect for the safety of everyone involved. 

Residents struggling with the effects of current health concerns may find themselves well underwater; however, the Texas Supreme Court has suspended all eviction hearings through May 18th, 2020, as well as put other restrictions in place such as prohibiting posting evictions through May 25th, 2020.

An owner and property manager must pay close attention to evolving guidelines in handling tenant nonpayment issues. As health concerns twist and turn current tenant rights and leasing laws, income property owners need to stay up to date on the latest legislation.

If you have questions or concerns regarding property management and rental homes, please do not hesitate to contact Dona Brown with Talk Property Management. Our years of experience make us a reliable resource in Austin. 512-721-1094.

The Home Office | Why Investing In this Space is Crucial in Selling or Renting an Austin Home in 2020

Posted on by author

As health concerns reshape daily lives and force businesses to reconsider their workplace infrastructure, Austin home seekers will have new priorities. If you have a home to sell or an investment property to rent to those looking to move in Austin, pay attention to this developing trend.

The last decade of innovation has created opportunities through technology to work more creatively. Educational institutions brought the classroom to the home, and many businesses offer flexibility to allow employees to work and meet from anywhere. With the current COVID-19 landscape, these innovations are perfectly timed. While current headlines collide with tech tools, the shift in workplace structures and priorities is unavoidable, and it will ultimately impact what people are looking for in a home, whether they are buying or renting. In other words, home offices have just moved to the top of the most-wanted list for searchers. 

Home Office Must-Haves

If you are selling a house or offering a home for rent as an investment property owner, adding or boosting a home office or flex area may help attract the right buyer or renter. Whether it is ensuring the room or space is ready for office equipment, or you are highlighting the most pertinent information in your marketing, be sure to include these home office must-haves:

  1. Good Lighting. Make sure there are plugs available for lamps or overhead light fixtures are installed.
  2. High-Speed Internet. Know what type of internet is available, have it connected, and include it in your marketing information. 
  3. Proper Outlets for Office Equipment. Ensure the outlets are up to date and in convenient locations to handle computers or printers. 
  4. Space. Add built-in shelving or stage the room to show off how it can be used for work or school. 
  5. Privacy. Ensure any space you are allocating as the dedicated office offers privacy with a door or is set apart from the main gathering area. 

Home offices are the next wave of must-haves in a house, so if you are selling a home or offering a rental, it is time to invest in a dedicated space to meet the needs of potential buyers or tenants.

Are you interested in more information about buying an investment home in Austin or need a property manager to help navigate Austin’s rental market? Contact me. I am always here and available to answer any questions you may have. Set up a virtual appointment with me by contacting me below or give me a call at 512-721-1094. 

Need more information about residential investments? Click here to visit our Owner Resource page. 

How TALK Property Management Can Help Investors Reach Their Real Estate Goals for 2020

Posted on by author

A new decade means new opportunities and new investments to be made. 2020 is the year you can make a big change and see huge results. It’s never too late to add some simple additions to your New Year’s resolutions and set achievable real estate goals to set you up for the next decade. We’re here to help keep you on track and set you up for success!

1. Expand Your Horizons

Just as the times change, so do trends in the market. Investing in real estate allows you to learn so much about a variety of topics and makes you a well-rounded person, but it’s never too late to expand your vision and learn something new. Ask questions about a real estate investment type you’ve never tried, research short-term rentals, or dig into where the next up-and-coming neighborhood will be. If you need help researching, don’t hesitate to give TALK Property Management a call.

2. Focus on Time Management

The more investment properties you have, the larger your scope of responsibilities to take care of your tenants and maintain the property. As your portfolio and the number of properties you invest in grows, it becomes more and more important to build a team you trust to help you spend your time wisely. With TALK Property Management, we help you take care of all the day-to-day duties of owning a property and come with a great team you can always rely on.

3. Stay Informed

You never want to lose touch on how your properties are doing, what the current tax exemptions are, or any coming changes that could affect you. When you partner with TALK Property Management, we always keep you in the loop, and we’re never more than one phone call away to answer all of your questions.

If you’re curious about the services we offer to help anyone investing in real estate, check out our About Us page. We’re here to make sure your real estate investment is a success, so let’s get 2020 started off on the right foot! Give us a call at 512-721-1094.

A Look Back at Austin’s Construction Projects Throughout the 2010s

Posted on by author

Since 2010, there have been a ton of new projects and developments springing up throughout the city. With the start of a new decade almost upon us, we thought we’d take a look back at some of the buildings that weren’t around to add to our skyline just a few years ago.

The Austonian
From 2010 – 2018, this was Austin’s tallest building. The Austonian was the true start to showing how important and lucrative high rise residential buildings can be in Downtown Austin. The skyline wouldn’t be the same without the 683 feet condominium tower.

The Independent
In 2019, the Austonian was usurped in height by the Independent, standing at 690 feet, the building became the tallest in Austin and the tallest all-residential building in the United States west of the Mississippi River. The unique design is always brought up in architecture talks for its Jenga-like look.

Robert B. Rowling Hall
The University of Texas campus is beautiful and has a huge impact on the city year after year, but the new graduate business facility is an even bigger fixture. The 497,500 square-foot building connects to the AT&T Conference Center and Hotel.

Northshore
The 424-foot building has 38 stories, 439 apartments, and is a quintessential mixed-use development. The building comes with a private lounge, pool, concierge, and a variety of great amenities.

70 Rainey
The last ten years have brought particular change to the Rainey District. The tallest of the new towers to the historic Rainey Street is 70 Rainey, and it’s sure to be one of many luxury buildings to connect Rainey to the rest of Downtown.

The last decade has brought a variety of changes, and we know the next ten years can really evolve the city dynamic and skyline even more. If you ever have questions about where we see Austin going and what the changes can bring for your investment properties, don’t hesitate to reach out to TALK Property Management at (512) 721-1094.

5 Real Estate Investment Property Red Flags

Posted on by author

There are a lot of excellent investment properties out there, and while there are some factors that make a property great, there are also some red flags that may help you narrow down which ones you should avoid altogether.

  1. Is the floor plan functional?
    If a home is listed as a four-bedroom home, you want to make sure that all four bedrooms are adequately sized. If one bedroom is particularly small or awkwardly shaped, it may be hard for you to find tenants for that space. You’ll also want to consider the number of bathrooms. It’s unlikely that you’ll find tenants ok with sharing a four-bedroom home with only one bathroom.
  2. What neighborhood and school district does the home fall in?
    No matter how beautiful the home, if it’s in a bad neighborhood or zoned for a school district that doesn’t have a great reputation, you’re going to have a hard time finding tenants. Is the area in a high flood zone, close to loud businesses? These are all factors you’ll want to look into.
  3. Are there structural issues and damage to the property?
    Pay attention to if a property has uneven floors, cracks on exterior walls, etc., as this can be a sign that there are bigger problems with the structural integrity of the home, which can be costly to fix. You should also be looking for roof leaks and checking under countertops and sinks in the bathroom and kitchen for signs of water damage and mold, as this can be another sign that there are major repairs that need to be made.
  4. Have you been asked to waive your right to inspect the property?
    We can’t stress this enough. If a seller asks a potential buyer to waive their right to inspect and back out of the deal if they don’t like what they see, turn tail and run. This is a huge sign that something isn’t right with the property. It’s common for a seller to sell a property as is without making any repairs, but it’s not common to ask a buyer to lock into a deal without an inspection.
  5. Are you being met with resistance to see the inside of the property?
    If you’re having trouble nailing down a date and time to see a property or are even being kept from checking out the whole property, it’s a big sign that the seller is hiding something. The golden rule to live by: Never buy an investment property without seeing 100% of what you’re getting into and after receiving an inspection that gives you an idea of what the property will need maintenance-wise.

If you still have questions on investment properties, don’t hesitate to reach out! We’re more than happy to share some of the knowledge, tips, and tricks we’ve picked up over the years to make sure you make and maintain a great investment.