Round Rock Ranch Real Estate Review for First 3 Months of 2013

This year is now over a quarter of the way through, giving us the perfect opportunity to review the real estate market trends in Round Rock Ranch during that period. I will look at how the real estate market in Round Rock Ranch has performed versus the last 3 months of 2012 (the 4th quarter, Q4) and versus the same 3 months in 2012 that we just finished in 2013 (January-March, Q1). For each of these time periods, we will look at the number of homes sold, the average sales price, the average price per square foot and the average days on market (DOM).

In the first 3 months of 2013 (Q1), 10 homes were sold in Round Rock Ranch. In Q4 of 2012, 12 homes sold and 8 homes sold in Q1. The changes in 2013 are not very high or low and represent a very steady market throughout the past 15 months.
While the number of homes sold did not vary much, the last 3 months saw a significant increase in the average sales price. The avg. sales price was $162,430 in 2013 Q1, a 2.3% increase over Q4 of 2012 and a 11.7% increase over Q1 of 2012.
The sales price can give a fairly good representation of a market’s trends, but perhaps nothing is so telling as changes in the average price per square foot ($/SqFt). The average $/SqFt was $82.39 in Q1 of 2013; this is a 8.6% increase over Q4 of 2012 and a 4.6% increase over Q1. To put it in perspective, the average $/sqft was almost $7 more than during the last 3 months of 2012!
The average days on market (DOM – the average amount of time a home is on the market before selling) increase slightly in 2013. In Q4 of 2012 it was 43 days and it was 38 days in Q1 of 2012. The average DOM climbed to 50 in the last 3 months, but I don’t think this is a substantial difference – mainly because there are 1 or 2 sales in 2013 which are skewing the average higher.
In summary, it seems that the real estate market in Round Rock Ranch is strong and is seeing gradual, sustained growth. I would expect the trends to continue through 2013. If you potentially looking to sell you home in Round Rock Ranch this year, I would expect to sales prices to continue to rise through the end of 2013 because of the strong demand and limited inventory. You have chosen a great time to sell! Drop me a note to learn about how my progressive marketing plan can go to work for you!

by Kyle Pfaffe, REALTOR®      e: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com

The Kyle Pfaffe Real Estate Team

Round Rock Ranch 2012 Real Estate Market Report

How was the Real Estate Market in Round Rock Ranch for 2012?

The real estate market in the Greater Austin area and Round Rock saw some incredible growth in 2012. Round Rock Ranch also saw some growth and, after an extremely busing January, I finally had time to put this information together. The graph below gives a good summary of most of the information I have. Round Rock Ranch Real Estate

In 2012, 22.9% more homes sold in Round Rock Ranch versus 2011. While the number of homes sold increased, that growth has not yet translated to much growth in sales prices as the average sales price was $156,679 (+.8%) and the average price per square foot was $75.36 (+2.5%). Whiles values remained unchanged, the average home for sale in Round Rock Ranch sold in 5 less days in 2012 versus 2011 (41 days, -11% vs 2011).

What do these numbers mean for you if you are looking to buy or sell a home in Round Rock Ranch 2013? If you are looking to buy a home,  the number of homes on the market is shrinking and homes are selling faster so you will likely have less options and more competition from other buyers. Because homes are selling more quickly, you should also move fast to put a strong offer in once you have found a home you really like.

If you potentially looking to sell you home in Round Rock Ranch this year, I would expect to sales prices increase in 2013 because of the strong demand and limited inventory. You have chosen a great time to sell! Drop me a note to learn about how my progressive marketing plan can go to work for you!

by Kyle Pfaffe, REALTOR®      e: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com

The Kyle Pfaffe Real Estate Team

The “Surprise” Costs of Buying a Home

UPDATED 9/6/2016. Buying a home in the Greater Austin Area is a tremendous time in your life and is one of the biggest decisions you will ever make. While this event comes with a lot of excitement, it also comes with some mystery and a lot of questions as well. Can I afford to buy right now? How much is it going to cost me? How much cash do I need up front to buy a home in Austin?

Personally, I hate surprises. That hate is motivating me to make sure you have this information. I do my very best to make sure that everyone I work with or potentially work with fully understands the home-buying process and how much it will cost them. The information below represents that most accurate and up-to-date information I know on how much you will likely spend to buy a home. If you have any questions about buying a home or how you can best be prepared to buy your next home, drop me a note or give me a call.

  • Option Money – $100 – Due 48 hrs after your offer has been accepted > paid to the seller and usually buys you 7-10 days of an “option period,” a period that begins when your offer has been accepted and gives a buyer the unrestricted right to cancel the contract for the specified time period. This amount is usually applied toward the money you must pay at closing.
  • Earnest Money – $$$ (usually 1% of sales price – i.e. $2500 for a $250,000 house) – Due when the contract has been accepted > paid in certified funds (cashiers check) to the title company and is a “deposit” on your purchase. If you chose to cancel your contract anytime after the option period, you usually will not get this money back. This amount is also applied to the money you must pay at closing.
  • Inspection Fee – $300-500 – Due before you receive your inspection report, usually performed during the option period > While an inspection is not required, I would advise any client to inspect any home they are purchasing. There a many potential issues with a home that are invisible to the naked eye and require a professional inspector.
  • Termite Inspection – $100 – Due before you receive your termite inspection report > A termite inspection is required any time you are using a VA Home Mortgage, but is not required for other loan programs. It can usually be bundled with a home inspection for a better deal and is also usually performed during the option period.
  • Survey – $425 – Usually due when your lender orders the survey > Often, a survey is provided by the seller and a new one is not required. If there have been changes since the last survey was made or if there is no survey is available, a new one will have to be ordered. Who pays for the new survey is something that is negotiated as part of the contract so try to get your agent to get the seller to pay if a new one is required.
  • Appraisal – $400-$500 – Usually due when you lender orders the appraisal once the option period is over > The lender will require an appraisal for any loan they fund. This is an item the buyer always pays for and is usually not ordered until after the option period is over to avoid having you pay for an appraisal if you cancel the contract during that period. The lender uses the appraisal to determine if the property is worth the price you are paying for it.

Other Possible Costs

  • Repairs – Amount varies depending on repairs > most often, repairs performed on the home before closing are paid for by the seller, but if a seller is unwilling to pay for a repair, they may agree to do the repair if the buyer pays for a portion of the work. In that case, you might have to help pay for this upfront.
  • Termite Treatments – Amount varies depending on treatment area > like basic repairs, you might have to help pay for this treatment if you want it performed prior to closing

Keep in mind, the costs above are the costs you should expect prior to closing. You will certainly have to have money for a down payment on probably closing costs as well. If you have questions about buying a home or how much you should be prepared to spend, drop me a note or give me a call at 512.636.9707.

By Kyle PfaffeREALTOR® e: Kyle@AustinHomes4You.com

m: 512-636-9707 w: AustinHomes4You.com

Market Snapshot of Sendero Springs and Round Rock West

I had a client ask me how the real estate market was in Sendero Springs so I took the opportunity to share with all of you how I found the real estate market to be in Sendero Springs and the local area. Looking for information on your neighborhood? Drop me a note and I’d be happy to help!

The real estate market for Sendero Springs and the local area (Brushy Creek North and Walsh Ranch) has seen strong growth in the last 22 months. Since January 1, 2011, the average sales price has risen 15% to $320,000 and the average price per square foot has climbed 10% to $100/sq.ft. While prices have risen, the number of days it has taken for a home to sell (DOM – Days On Market) has dropped 23% to only 52 days, with the median DOM being only 38 days.  Barring any unforeseen changes in the economy and lending market, I would expect home prices to continue they gradual rise for the near future. As long as new homes are still being constructed in the Sendero Springs and Behrens Ranch area, those new homes will hold the price of existing homes down.

For more information on the real estate market in Sendero Springs and the Round Rock West area or for an analysis of your home in this market, drop me a note or give me a call at 512-636-9707.

 By Kyle Pfaffe, REALTOR® e: KylePfaffe@kw.com m: 512-636-9707 w: AustinHomes4You.com