Austin’s real estate market can be a confusing place right now. On one hand the media is keeping your attention with stories of gloom and doom while many of us here in the local market here in Austin keep telling you that 2008 is one of the best times to buy since 1973.

Here is an interesting bit of information that was just passed along to me. Austin’s home values are still increasing. Austin prices have held up strong over both the past 3 months and 12 months and is currently ranked 3rd in the nation based on Loan Performance Home Price Index that covers median home prices in 7,508 zip codes around the country

Tags: economy by Aria
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If they are not giving you all the facts, YES!  A big part of the concept of our industry is cooperation.  If I have a seller, I want to cooperate with an agent with a buyer for my seller’s property since most buyers are represented.  Likewise, if I represent a buyer, I need the cooperation of the seller’s agent.  I represent my client’s best interests, and the other agent should be representing his or her client’s best interests, but I still find that many are really only after their own interests.  So what’s the point?

You should hire a Realtor® to represent you and your best interest using their expertise in the real estate industry and in real estate transactions.  Sure, you call buy or sell a house yourself, but Realtor®s are here because most people don’t have the time or energy to invest in learning how to market or search for properties, writing and negotiating contracts, how escrow works, how to do a title search, researching market trends.  It seriously is a great time and energy commitment.  Since most people have day jobs, hiring a Realtor® is generally worth it since their knowledge typically brings you 17% more for the sale of your house (easily offsetting their fee).

So what’s up with the market these days?  A Real Estate Agent’s job just got a whole lot tougher.  Everyone and their mamma wanted to buy, sell, flip and invest in 2005 & 2006 so when national news hit that we are in a slump coupled with this election year, naturally things in the real estate market slowed.  Those of us in the industry are battling misconceptions from national news (Austin still has a strong economy with a growth rate of at least 4%/year), fears of paying too much, buyers waiting for exactly the right moment to try to get the best deal, and now other Realtor®s who are not cooperating.

If your Realtor® isn’t giving you all of the information including what to expect from each step in a transaction, RUN, don’t walk to interview other agents to find one with the knowledge you need to stay ahead of the game.  The real estate agents of the 90’s are a dying race now that over 80% of homebuyers start their search online.  We are not the only ones with the information now that the internet is around.  What we do have is experience of transaction after transaction and creativity from working in this industry day in and day out.  Your Realtor® should really be a tougher, stronger negotiating, more experienced in real estate transactions version of yourself.  If you’re a technology lover, hire a technology-loving Realtor® (that’s me).  If you are everyone’s best friend, hire a Realtor® that’s everyone’s best friend (not me).

Just DON’T hire someone who will leave you high and dry, liable to a law suit, and without getting the best deal.  As predominately a seller’s agent, I am always looking for the cooperation of a buyer’s agent to bring me qualified buyers.  That means buyers who are a) actually committed to a home purchase, b) financially qualified to buy the home they are looking at, and c) trusting enough of their agent to let them see the transaction through.

So don’t hire an agent just because they are your cousin’s best friend’s boyfriend or your mother’s boss’s daughter.  Hire them because they are the real estate expert version of yourself, someone you can trust, and someone with all the answers.

These are tough times in the Real Estate Industry, but I believe in survival of the fittest.  This is where I need the help of you, the consumer.  Don’t hire that bad agent and they will find a job that they are more suited for.  Otherwise, you are wasting your own time and the time of all of those who are working hard to make these transactions happen.  Find a good, honest agent and all real estate transactions will run more smoothly with better informed consumers making better deals.

My sellers deserve the best, and I will continue to advise them against screwy offers that will tie up their property, hopes, and time — and only when they are motivated to sell.  My buyers deserve the best, and I will only show them properties they are qualified to buy when they are ready to buy.

If you hated your last real estate transaction, don’t give me the opportunity to say “I told you so” next time!  And I know some of you will know who I’m taking about.

Tags: Realtors by Aria
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Calling Austin Realtor®s!

I found a great new resource while reading the Agent Genius blog called RealBird.  This great new listing marketing service has innovative features including yellow pages, a listing publisher, and my favorite, a map-based MLS system.  There are many great widgets that integrate with other sites including Active Rain.

Sign up and be sure to request that the Austin MLS is added so we can have this great service cover Austin!

Tags: Realtors by Aria
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Austin, Texas April 21, 2008 — Today’s sought after luxury properties are elegantly casual with an emphasis on more functional flow, warm casual entertaining and a genuine sense of tranquility through a more seamless integration of indoor and outdoor living.

Over the top formal still has its place in every luxury market, however today’s luxury buyers are seeking properties that function for the active everyday lifestyles of their families. Entertaining today often is centered around intimate family gatherings or spirited children’s birthday parties. The golden key is unpretentiously lavish homes that have effortless transitions from functional casual entertaining to elegant opulent entertaining without losing their warm functional appeal. Achieving this is truly a feat for the ‘detailed’ eye - mixing casual cypress floors and interior stonework with more formal elegant lighting and antique warm walls is easy on the eye, but years in the desing process.

Optimizing spectacular natural beauty with luxiourous amenities by seamlessly integrating indoor and outdoor living takes the stage in today’s luxury market. When well done, you’ll think your eyes are playing tricks on you; it’s absolutely stunning to enter a home where your eye looks completely through the living areas to the outside when you suddenly realize there appears to be no interior wall.

Outdoor spaces that rival the finish-out and amenities of indoor spaces are a pivotal part of the luxury market.

What is casually chic? “It’s a home that you want to throw your feet up and read a good book, not just throw a good party in,” Michelle Cain, BridgeOne Properties. It’s ultra luxury, exquisite detailing that dazzles at first sight coupled with warmth and character that lives and functions effortlessly, making these homes truly timeless in any market.

For additional information contact: Aria Schoenfelt, Realtor®, BridgeOne Properties (512) 771-1776, ariakristen@gmail.com.

Tags: austin, luxury homes by Aria
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Forbe’s list from 2007 covers the least over-priced US cities and Austin ranks 2nd!

1. Charlotte, N.C.

Median home price: $190,600
P/E: 15th lowest
Affordability rank: 8th most affordable
Housing price trend: 8%

2. Austin

Median home price: $173,700
P/E: 12th lowest
Affordability rank: 13th most affordable
Housing price trend: 4.9

3. Raleigh, N.C.

Median home price: $213,700
P/E: 17th lowest
Affordability rank: 14th most affordable
Housing price trend: 14.5%

4. Detroit

Median home price: $151,700
P/E: 8th lowest
Affordability rank: 2nd most affordable
Housing price trend: -1%

5. St. Louis

Median home price: 147,900
P/E: 11th lowest
Affordability rank: 3rd most affordable
Housing price trend: 0.5

6. Pittsburgh

Median home price: $116,100
P/E: 3rd lowest
Affordability rank: 5th most affordable
Housing price trend: -1.8%

7. Orlando

Median home price: $272,100
P/E: Lowest
Affordability rank: 15th least affordable
Housing price trend: 3.9%

8. Philadelphia

Median home price: $230,200
P/E: 16th lowest
Affordability rank: 11th most affordable
Housing price trend: 3.3%

9. Indianapolis

Median home price: $119,300
P/E: 2nd lowest
Affordability rank: Most affordable
Housing price trend: -4%

10. El Paso

Median home price: $127,600
P/E: 12th lowest
Affordability rank: 13th most affordable
Housing price trend: 4.9%

Tags: austin, austin real estate, economy, top 10 by Aria
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The February MLS statistics from the Austin Board of Realtors showed some surprises.  That’s 2008 in blue above with prices still on the rise over 2007 prices despite this year’s media-watching, weary consumer.  The median sales price of single-family homes grew 2% over February 2007 even though the number of sales was down 10%.  This is proof of the economic growth we keep seeing in Austin even with the national news watering down the performance of our local market.

Remember, real estate is local!  Austin has bucked so-called national trends time and again, along with many other cities.  March statistics are due out soon and will be posted to the blog as soon as they are available.

Tags: austin real estate, hot market, market, market statistics by Aria
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Forbe’s always provides us with great rankings, this posts features the Top Ten Most Expensive Homes in the World for 2007.

#1: $165 million, Beverly Hills, Calif.
Once owned by newspaper magnate William Randolph Hearst, this expansive villa sits on six and a half acres in Beverly Hills.  A massive 75,000 square feet of living space is spread across three stories. The home boasts 29 bedrooms and 40 bathrooms.

#2: Bran Castle, $140 million, Brasov, Romania
Once inhabited by Romanian prince Vlad the Impaler, the inspiration for Count Dracula, this castle, built in 1212, sits on 20 acres.  The 17-bedroom castle rests on the top of a cliff and offers views across the countryside and surrounding mountains.

#3: $138 million, Updown Court , Windlesham, Surre
Larger than either Buckingham or Hampton Court palace, this 103-room home has 58 acres of gardens and woodlands, making it the idyllic English country home for those flush with cash.  Several ballrooms and grand entrance ways punctuate this house, which has a panic room, an indoor squash court, bowling alley, 50-seat cinema, helipads, space for eight limousines and a heated marble driveway.

#4: $135 million, Hala Ranch, Aspen, Colo.
The Starwood Ranch estate boasts a 56,000-square-foot mansion with 15 bedrooms and 16 baths.  The estate features several smaller buildings, stables, a tennis court and an indoor swimming pool.

#5: $125 million, Maison de L’Amitie, Palm Beach, Fla.
With the refurbished version–complete with ballroom, conservatory and 475 feet of oceanfront–Trump is confident the property will move (although the land this property sits on is worth more than the improvements!).  If the water is too rough on the beach, the property has a 100-foot swimming pool surrounded by gardens.

#6: $100 million, Tranquility, Lake Tahoe, Nev.
Conveniently on the tax-free Nevada side of Lake Tahoe, this 210-acre property is owned by Joel Horowitz, the cofounder of Tommy Hilfiger, who built the property from scratch.  The main house has 20,000 square feet of living space, is modeled after a northern European mountain home and has a 3,500-bottle wine cellar.

#7: $100 million Waterfront Estate, Istanbul, Turkey
Located on three-quarters of an acre directly on the Bosphorus in Istanbul, Turkey.  This residence offers more than 30,000 square feet of opulent living space in 64 rooms, which feature large windows looking to the water.

#8: Eurasia $100 million Moscow
This sizable property consists of an 11,700-square-foot manor house, two 4,000-square-foot guest houses and a 91,000-square-foot recreation center that has a pool, Turkish and Russian baths; a gym; sauna; and lounges. The property is 15 miles from the Moscow city center.

#9: $99 million Bishops Avenue, Hampstead, London
Just under the $100 million mark–depending on today’s exchange rate–the Toprak Mansion was built by Turkish entrepreneur Halis Toprak.  The 28,000-square-foot house has a double staircase and glass elevator.

#10: $75 million, Three Ponds, Bridgehampton, N.Y.
Three Ponds, which encompasses more than 60 acres of Hamptons farmland, is named for its surrounding lakes, but also features its own USGA-rated Rees Jones golf course.  Surrounding the main house are 14 gardens, a 75-foot-long swimming pool, golf pro shop, grass tennis court and a guest house.

Tags: luxury homes, top 10 by Aria
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