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Buyers Information

BUYING A HOME?

The Austin housing market in early 2024 is shifting towards a balanced state, offering significant benefits for buyers. With a rise in available listings and a stabilization of median sale prices, buyers have more options and less pressure to engage in bidding wars. The increased inventory provides a wider selection of homes, especially beneficial for first-time homebuyers. Additionally, the market stability means buyers can find favorable terms without facing the intense competition of previous years, making it an opportune time to invest in Austin real estate.

It is very beneficial to do your due diligence before thinking of putting in an offer on a house because this will give you the competitive edge that is needed to secure a good home in a desirable location.

Having a very good idea of what specific features you want in a home can help pinpoint the style and location of the home. Arranging these features in order of priority will also allow you to know which ones are not a deal breaker if they are not present in the home. When you get ready to look at houses, be sure to download the House Hunting Checklist to help you keep track or your likes, dislikes and special notes about each property.

Your Home Is Your Center Point

A home is not only where you eat, sleep and live but it is also the center point of where you go to and from work, school and shop – to name a few. Traffic in Austin will not be resolved in the immediate future, so the proximity of your home to these frequented places is crucial to the enjoyment of the neighborhood you choose.

Even before actively looking at homes, get pre-qualified with a lender so you know how much you can afford. The peace of mind that comes with knowing this makes the whole home buying process more enjoyable when you know it is just a matter of when and not if you can get the home. Pre-qualifying with a lender is also important because it will strengthen your negotiating position with the seller when you do find a home you want to own.

Finding the right home begins with finding the right real estate agent. A good agent listens carefully and guides you to a home that matches your lifestyle and finances. One of the first considerations is are you willing and able to put work into a newly purchased home? Or is home renovation not a viable option due to time restraints and budget? Remember, you can always remodel or update a house however you are unable to change location of the home. Hence the saying, Location, Location, Location.

We consider and review several sources to find you the perfect home. This is performed by diligently checking new listings on MLS, broker websites for off-market listings, company listings, local broker social media pages, as well as contacting expired and withdrawn listings.

When you select a property location of interest, as your REALTOR® we can provide detailed information on schools, taxes, utilities, amenities and other areas of interest. If you have selected a house, we can provide information on comparable real estate values which provides you an objective data point for pricing of a similar home in a comparable neighborhood.

Once you have selected a house, as your REALTOR® we will write up the purchase agreement on your behalf. Making an offer is exciting, and winning the contract is the most important step when you know it is the ideal house for you.

There are different strategies used when writing up an offer and most will depend on how competitive the market is (multiple buyers wanting the same house). This is where you will notice a significant difference between using an experienced agent and one that is part time or not fully engaged. Additionally, there are several ways to make a competitive offer without necessarily adding extra money to the offer.

When under contract, both parties (buyer & seller ) are under time constraints to fulfill their legal requirements. We are especially aware of these obligations and make sure the timeline is strictly adhered to during this stage. We additionally provide lists of service providers to complete home, termite inspections and other repairs for due diligence.

Before closing, I will review your closing documents and settlement costs in detail with you so you are familiar with them before signing paperwork at closing. Once the title company has received your funds for the home purchase, they will hand over the set of keys and the house is yours!

Work With Us

For us, there’s no greater feeling than knowing we played a pivotal part in our clients’ success in selling or acquiring a home. We value your trust and are excited to work with you!

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Contact Details

Local Color Realty Group

Phone

(512) 740-0071

[email protected]

Address

2200 Trail of the Madrones Austin, TX 78746

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