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Avery Ranch
- 1/40 40
Open Sun 12PM-3PM$2,595,000
4 Beds5 Baths4,626 SqFt7800 Orisha DR, Austin, TX 78739
Single Family Home
Listed by Kuper Sotheby's Int'l Realty
- 1/40 40
Open Sat 11AM-3PM$2,499,990
4 Beds5 Baths3,844 SqFt3103 White Rock DR, Austin, TX 78757
Single Family Home
Listed by Texas Crossway Realty LLC
- 1/33 33
Open Sat 12PM-2PM$1,999,999
5 Beds4 Baths4,899 SqFt7521 Harlow DR, Austin, TX 78739
Single Family Home
Listed by Kuper Sotheby's Int'l Realty
- 1/30 30
Open Sat 10AM-12PM$1,850,000
4 Beds4 Baths2,546 SqFt2704 Canterbury ST #A, Austin, TX 78702
Single Family Home
Listed by Compass RE Texas, LLC
- 1/40 40
Open Sat 10:30AM-2PM$1,799,000
4 Beds3 Baths3,273 SqFt1916 Pequeno ST, Austin, TX 78757
Single Family Home
Listed by Agency Texas Inc
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Buying A Home From A Foreclosure Auction! In Texas!
Buying A Home From A Foreclosure Auction! In Texas!
Exploring the County Clerk's Office Foreclosure Auction: A Behind-the-Scenes Look The foreclosure auction process can be an overwhelming but rewarding experience for both seasoned investors and newcomers. If you've ever wondered how the magic happens behind the scenes, this will give you a detailed look into one such event—the San Antonio foreclosure auction. If you're curious about how foreclosures are handled, how to evaluate a deal, and how to navigate the auction yard, read on and watch the video to leave comments! The Basics of Foreclosure Auctions Foreclosure auctions happen once properties default on their mortgages and are reclaimed by the lender. In Texas, foreclosure sales must be posted as legal notices 21 days prior to the sale date. These listings are available both online and at the courthouse, giving buyers the opportunity to negotiate deals with homeowners before the auction takes place. One key point: showing up at an auction unprepared could mean missing out on some great deals. It’s recommended that new buyers attend multiple auctions beforehand to familiarize themselves with the process, as each auction can feature multiple bidding sessions—sometimes happening simultaneously. A lawyer might pop up and start a small-scale auction in the corner, and if you're not paying attention, you could miss out on a prime opportunity. The Art of Negotiation Before the Auction Savvy investors often don't wait until the auction to make their move. For example, real estate investors like Logan have already negotiated multiple deals before auction day by contacting homeowners in distress. These negotiations allow investors to cut deals, such as allowing the homeowner to stay in the property for a month or two after the sale and putting some money in their pockets upfront. Once the auction happens, however, things change. The highest bidder becomes the new property owner, and they can immediately start the eviction process. This is why many homeowners who fail to negotiate beforehand face an uncertain future once their homes are sold. Evaluating Properties at Auction When attending a foreclosure auction, buyers rely on a foreclosure catalog to review the available properties. This catalog includes essential details such as the property's address, the type of mortgage being foreclosed, the original loan amount, and the current estimated value. An important lesson to remember: the opening bid is often lower than the outstanding mortgage to spark interest in the property. However, if no one bids above the "credit bid" (the amount owed to the lender), the lender becomes the new owner of the property. This dynamic creates opportunities for investors to snag a great deal—if they know how to play the game. For example, in one case mentioned during the auction, a property that originated with a $45,000 loan was being sold while Zillow estimated the home’s value at $278,000. While this may sound like a great deal on the surface, it’s essential to do your homework on the property's condition and potential equity before bidding. Understanding Equity and Excess Proceeds One of the most significant benefits of buying at a foreclosure auction is the potential for equity. If a property sells for more than the outstanding loan amount, the borrower is entitled to the excess proceeds. However, many borrowers are unaware of this and fail to claim the funds. For instance, if a property sells for $240,000, but the loan balance is only $137,000, the borrower is entitled to the $103,000 difference. Investors, therefore, need to educate themselves on this process to ensure they maximize their returns while being aware of their responsibilities to the former homeowners. Winning at the Auction At the end of the day, it's all about being strategic. One investor won a property valued at $410,000, but they were able to purchase it for $290,000. The property had no major repairs needed, making it a relatively low-risk investment. However, not every auction purchase is a slam dunk. Investors need to be cautious and factor in potential issues like mold, termites, or foundation problems. As Logan points out, even with potential issues, having enough equity in the property provides a cushion to mitigate risks. The Takeaway: Foreclosure Auctions Aren't for the Faint of Heart Foreclosure auctions can be a great way to acquire properties at below-market prices, but they require preparation, due diligence, and the willingness to take calculated risks. From researching properties beforehand to negotiating with distressed homeowners and evaluating the equity potential, every step in the process presents its own set of challenges and rewards. Are you ready to try your hand at a foreclosure auction? If you're new to this space or want to learn more, Let’s discuss!
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The Austin Future YOU Won't Like....
The Austin Future YOU Won't Like....
Austin's Explosive Growth: A Closer Look at Changes Ahead Austin is transforming at an incredible pace. Whether you love it or have concerns, there’s no denying that changes are happening quickly. Today, we’ll dive into some of the most significant developments shaping Austin’s future, from major urban projects to airport expansions and the evolving housing market. Some of these changes may excite you, while others could raise eyebrows—let me know what you think in the comments! East Austin's River Park: A New Cultural Hub One of the biggest changes on the horizon is the development of River Park, a 109-acre mixed-use project on Riverside Drive in East Austin. This project is set to transform the area with office spaces, retail, and over 1,000 multifamily units, creating a blend of residential, commercial, and cultural spaces. What truly stands out, though, is the 65,000 square foot live music and events venue planned for the first phase. Designed as a hybrid between the iconic Austin Music Hall and ACL Live at Moody Theater, this venue will boast world-class acoustics and flexible seating. It’s set to be a cultural hub that keeps Austin’s legendary music scene thriving. Austin-Bergstrom International Airport: Preparing for Growth If you’ve been to Austin lately, you know that getting around can be challenging—and getting in and out of the city is no exception. ABIA (Austin-Bergstrom International Airport) is gearing up for a massive expansion to address this. The $4 billion investment includes new concourses, an arrivals and departure hall, and up to 30 additional gates. This expansion is critical, as ABIA is currently handling double the number of passengers it was originally designed for—22 million passengers in 2023 alone. The upgrade aims not only to accommodate more travelers but also to boost the local economy and improve the overall flying experience. Austin's Housing Affordability Crisis Is Austin becoming more affordable? The short answer: not really. While housing affordability remains a challenge across the country, it’s particularly pressing in Austin. According to Redfin, the typical American needs to earn $115,000 a year to afford a median-priced home, though the median income in Austin is higher at $91,000. Even with interest rates falling slightly, home prices continue to rise, making affordability a significant concern for many families. However, efforts are being made to address the housing shortage, particularly through projects like affordable apartments and new developments in areas like Leander. Build-to-Rent Developments: A Solution or a Problem? Speaking of Leander, one of the fastest-growing areas around Austin, a new build-to-rent neighborhood is being developed by Trion. This project will add 155 single-family homes to meet the rising demand for rental housing. But here’s the twist—it’s being developed by Blackstone, a company that has faced significant criticism for its role in the housing market. This raises the question: Is Austin’s future in build-to-rent developments, or should we be focusing on building more homes for ownership? Your thoughts on this are crucial—do you think build-to-rent communities are the answer to Austin’s housing challenges, or do they exacerbate the problem? Job Growth and Its Impact on Austin’s Expansion Despite the economic shifts we've seen recently, Austin’s job market remains resilient. Software development jobs have seen a 3.3% year-over-year wage increase, and job openings for software engineers are up 12% from last year. This is particularly important for Austin, where the tech sector is a driving force behind the local economy. The overall job market remains competitive, and while unemployment has ticked up slightly, Austin continues to be a hotbed for growth. Areas like Williamson County, Hutto, and Taylor are seeing new developments pop up as more people flock to the suburbs. New Developments in Hutto and Beyond Developers are increasingly focusing on areas outside of Austin to meet the growing demand for housing. In Hutto, projects like the Meadowbrook development (325–370 homes) and the Urbania Elmer project (225 single-family homes and duplexes) are slated for completion in the next few years. These developments are part of a broader trend toward expanding suburban housing to support Austin’s rapid population growth. Austin is changing, and these projects are just a glimpse of what’s to come. Whether it’s massive airport expansions, new mixed-use developments, or shifts in the housing market, the future of Austin is being built right before our eyes. What do you think about these changes? Are they setting the city up for success, or do you have concerns? Let me know in the comments! And if you enjoy updates like these, be sure to let me know what you'd like to see in future videos and blog posts!
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Home Sellers Fight Back After Rates DROP!
Home Sellers Fight Back After Rates DROP!
Is Now the Time to Buy or Sell? Insights on the Austin Housing Market The Austin housing market continues to see fluctuations, leaving both homebuyers and sellers with important decisions. With interest rates changing and economic conditions shifting, the key question remains: is now the right time to buy or sell? In a recent update, economic data, interest rate cuts, and housing trends were analyzed to offer valuable insights for those navigating the current market. Interest Rates: What’s Happening Now? Interest rates have been a hot topic among buyers and sellers, with rates showing a downward trend. While some buyers are waiting for rates to drop even further, the current rate of 6.12%, down from 7.5%, could present a good opportunity for those looking to purchase a home. According to Allan Ratner from Ivy Zelman’s team, a Fed rate cut is anticipated, though it may not significantly impact mortgage rates further. A notable takeaway: for every one-point drop in interest rates, an estimated 5 million more buyers re-enter the market. However, despite the rate drop, Austin’s market has been quieter than expected, possibly due to buyers waiting for more significant cuts or post-election outcomes. Austin Market Snapshot: Prices and Inventory As of the latest data, Austin home prices have dropped to $439,000, a 4.4% decline from last year and significantly down from the 2022 peak of $496,000. Despite this price decrease, inventory levels are dropping, with months of inventory down to 4.9% from a year-over-year high. This reduction in inventory is due in part to fewer new listings as sellers pull their homes off the market. For buyers, this could be an advantageous time to purchase, especially with homes selling at 93.3% of list price, representing an average discount of 6.7%. As the market heads into the quieter months, there’s more opportunity for negotiation, particularly on homes that have been sitting on the market longer. Foreclosures: A Non-Issue in Texas Contrary to what some may believe, foreclosures are not on the rise in Texas, including the Austin area. According to August 2024 data, foreclosure filings are down by 11% compared to last year, with Texas showing only 1,800 foreclosures. This is a far cry from the levels seen during the 2008 financial crisis, where monthly filings exceeded 300,000 nationwide. While other states like Florida, Nevada, and Illinois have higher foreclosure rates, Texas continues to benefit from strong job growth and economic stability, preventing a significant rise in foreclosure activity. Sellers Holding Steady Sellers in the Austin area are adopting a “wait-and-see” approach. Many are hesitant to drop their prices, especially if they secured low interest rates during previous years. With nearly 39% of homeowners mortgage-free, there’s less urgency to sell quickly, and they may be holding out for higher offers once interest rates stabilize or drop further. This reluctance to lower prices is creating what some call "stale inventory." Sellers are waiting for buyers to meet their price expectations, betting that rate cuts in the future will lead to higher offers. In essence, both buyers and sellers are watching the same economic indicators, waiting for the best possible moment to act. What’s Next? With interest rates trending downward, inventory dropping, and buyer activity expected to increase next year, the current market offers a unique opportunity. If rates fall further, we could see a buyer frenzy similar to previous years, pricing out those who could have acted now. The question remains: Is now the right time to buy or sell in Austin? For buyers, the opportunity to secure a home at a discount is available now, especially as sellers become more willing to negotiate. On the other hand, sellers who are patient may benefit from waiting, but with no guarantee that rates will fall dramatically, they also risk missing current buyer interest.
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