Tag: Investment Property

Austin-Area Home Sales Set October Record

Posted on by author

Despite a dip in September, the Austin-area housing market rebounded big time in October. In fact, according to the October 2018 Central Texas Housing Market report released by the Austin Board of REALTORS®, both home sales and sales dollar volume were the highest on record for any October. These record highs suggest a strong demand for single-family homes around the Austin-area and, while inventory did slightly increase around the area, there is still not enough supply to support the demand. What should you know as both a current and potential investment property owner? Here’s a look at the details:

Luxury houses in North America

  • Austin-Round Rock MSA
    • 2,347 home sales – a 4.3 percent increase from October 2017 AND the highest number of sales for any October
    • $900 million in sales dollar volume – an 8.8 percent increase year-over-year
    • $308,355 median home sales price – a 7.5 percent increase from October 2017
    • 2,871 new listings – a 3.7 percent increase year-over-year
    • 7,434 active listings – an 8.2 percent increase year-over-year
    • 2,444 pending sales – a 2.8 percent increase from October 2017
    • 2.9 months of inventory
  • City of Austin
    • 735 home sales – a 7.8 percent increase year-over-year
    • $343 million in sales dollar volume – an 11.9 percent increase from October 2017
    • $377,000 median home sales price – a 3.7 percent increase from October 2017
    • 878 new listings – a 5 percent increase year-over-year
    • 1,643 active listings – a 5.4 percent decrease year-over-year
    • 711 pending sales – a 2.2 percent decrease from October 2017
    • 2.1 months of inventory
  • Travis County
    • 1,176 home sales – a 6.2 percent increase year-over-year
    • $537 million in sales dollar volume – a 10.9 percent increase from October 2017
    • $358,540 median home sales price – a 5.5 percent increase year-over-year
    • 1,417 new listings – a 5.1 percent increase year-over-year
    • 3,374 active listings – a 1.2 percent increase from October 2017
    • 1,198 pending sales – a 3.3 percent increase year-over-year
    • 2.6 months of inventory
  • Williamson County
    • 780 home sales – a 0.5 percent decrease year-over-year
    • $242 million in sales dollar volume – a 3.3 percent increase since last October
    • $281,250 median home sales price – a 4.5 percent increase year-over-year
    • 963 new listings – a 2.6 percent decrease from October 2017
    • 2,595 active listings – a 12.2 percent increase year-over-year
    • 835 pending sales – a 2.1 percent increase from October 2017
    • 2.9 months of inventory

Do you have any questions about the local housing market? As a longtime REALTOR® and property manager in the Austin-area, the TALK Property Management Team is always here for you. Contact our team anytime!

Are you thinking about buying an investment property? We would be happy to help! Contact us today to get started and learn more about our property management services!

4 Signs the Investment Property You’re Buying Has Good Resale Value

Posted on by author

While you intend to keep an investment for years to come, that isn’t always the case. There will come a time when you will sell the property you are just now buying. With that in mind, it is important to think resale value now. How can you tell if the investment you’re thinking about buying has good resale value? Here are some signs:

resale value

The Neighborhood
Location is always the number one seller. Make sure the property you are buying is located in a prime, but quiet neighborhood. What else should you look for? Signs of a great neighborhood include the following: top schools, nearby entertainment and dining options and more.

The Systems
Ensure the home’s systems are either new or in good standing at the time of purchase. While it is expected to have to fork out some money for repairs while owning the property, it is said that the sooner you have to make them the more expensive it is for you. That being said, ask an inspector to take a close look at the major home systems and give you a rundown of the future health of the home. Note that costly items to fix include the roof, water heater, HVAC system, windows, foundation, etc.

Great Schools
Whether you have kids or not, the school district matters – especially when it comes to the resale value. Do your research and ensure the property is located in one of the area’s top school districts. Great school districts in the Austin area include Leander ISD, Lake Travis ISD, Round Rock ISD, Eanes ISD, Liberty Hill ISD and more.

A Well-Designed Floor Plan
A floor plan that is well-designed doesn’t just mean open. While open is highly desirable, you should also look for a family-friendly plan that has at least three bedrooms (maybe even four) and multiple bathrooms.

Even with these signs, good resale value is never a sure thing. Keep that in mind, both now, when you are buying the property, and when it comes time to sell.

Do you have any questions about buying in Austin’s fast-moving real estate market? Give TALK Property Management a call. We are always available to help!

Quick Tips to Fix Up a Rental Property Without Breaking the Bank

Posted on by author

Putting a little time and effort into your rental property can easily put you above the competition. Everyone tries when they are selling a home to make it look the best it can, which means pouring lots of dollars into renovations and appliances. Investors who are looking to rent a home cannot afford extensive work and don’t have the time to wait for such work to be done. Once a property becomes available for rent, it is a race to fill the space.  We have found some quick fixes to make sure your rental property looks it’s best without cutting into your profits.

Inexpensive Kitchen Upgrades for Rental Property

Don’t be afraid of a little color to start. Extremely bold colors aren’t necessary, but adding a pop of color to cabinets that are outdated or dark can open up a kitchen and change the entire look of the room. Once the paint is taken care of, matching, modern hardware is a must and small investment in the long run. Think storage and get creative. Hang fruit baskets, put up a pot rack and add an island if you have enough space.  Add backsplash, but it is not necessary to do so all the way around the kitchen. Use tiles for accents rather than spending an arm and a leg on covering the entire wall. Invest in the floor and make certain you get something neutral, stylized and (maybe most important) durable. Consider updating plumbing to modern fixtures that can stand up to heavy use.

Curb appeal plays a big part in the appeal of your rental property, learn more here.

Improve Bathroom Appeal on a Budget

Job one: Make sure everything matches. From doorknobs to light fixtures and even down to toilet paper holders, it should all go together. Mismatched fixtures are an immediate sign of age and will turn renters off quickly. Once again, pay special attention to the floor. If water damage has occurred, replace what is there with a water and mold resistant material.  Use color in the floor, make the bathroom fun! Choose a color palette to use in the bathroom décor. Storage is important here too if there isn’t a linen closet. Try to maximize space with corner shelves and towel hangers with multiple racks. Add a frame to a mirror, either modern or ornate, but it should definitely be eye-catching.  Last, but certainly not least, ensure there is ample, natural light.

Beautify Your Rental Property with some Minor Adjustments

Clean rooms from top to bottom, checking for cobwebs and dirt on baseboards. Clean windows and mirrors and do it well! Hire a cleaning crew if you feel the need to do so, it will be worth it. Paint where it’s needed, do not leave peeling paint or half-finished paint anywhere. Clean up the back yard, as well as the front. Deep clean carpets, shine wood floors and dust everything! Make sure fixtures, doorknobs and the like match throughout the home.  A uniform look is the best way to go in any home showing situation.

With minimal spend and a bit of work, the money saved and tenants earned will be worth it! If you would like to discuss more about what TALK Property Management can do for you contact us today!