13 Mayıs 2012 Pazar

Austin Real Estate Inventory is Low Low Low! Time to Sell!

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Do you know how low the Austin Real Estate inventory levels are right now? Low. Low. Low. Translation: It's a seller's market and it's time to put your home on the market. Right now.
Let's Talk this week! about what your home is worth where you live!
Here is detailed information on some key communities in Austin where I focus the majority of my time and resources:
Steiner Ranch/River Place/Westminster Glen:
  • (77) Homes For Sale
  • (30) Pending contracts
  • (60) Sold - past 90 days
  • Estimated 3 months of inventory
Westlake area:
  • (65) Homes For Sale
  • (13) Pending contracts
  • (39) Sold - past 90 days
  • Estimated 4 months of inventory
Tarrytown area:
  • (114) Homes For Sale
  • (39) Pending contracts
  • (52) Sold - past 90 days
  • Estimated 4 months of inventory
Cat Mountain/Mount Bonnell:
  • (14) Homes For Sale
  • (1) Pending contracts
  • (10) Sold - past 90 days
  • Estimated 4 months of inventory
Alandale/North Central Austin:
  • (81) Homes For Sale
  • (32) Pending contracts
  • (58) Sold - past 90 days
  • Estimated 3 months of inventory
 Hyde Park area:
  • (67) Homes For Sale
  • (29) Pending contracts
  • (52) Sold - past 90 days
  • Estimated 3 months of inventory
Greater NW Austin area:
  • (206) Homes For Sale
  • (111) Pending contracts
  • (237) Sold - past 90 days
  • Estimated 2 months of inventory
Lakeway/South Lake area:
  • (430) Homes For Sale
  • (85) Pending contracts
  • (147) Sold - past 90 days
  • Estimated 6 months of inventory
Spiecewood/Westwood High area:
  • (74) Homes For Sale
  • (39) Pending contracts
  • (76) Sold - past 90 days
  • Estimated 2 months of inventory
Round Rock
  • (476) Homes For Sale
  • (176) Pending contracts
  • (352) Sold - past 90 days
  • Estimated 3 months of inventory
Cedar Park
  • (308) Homes For Sale
  • (107) Pending contracts
  • (227) Sold - past 90 days
  • Estimated 3 months of inventory

In which community are you thinking about selling? Let's Talk about the numbers, inventory and pricing in the community where you live!

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Tim Thornton, Realtor ®, Austin, Texas.

Can you Recommend a Good Realtor in Austin?

To contact us Click HERE
The highest compliments that I receive for my work is the referral and recommendation of my clients. Here are the personal thoughts of some of the last 120 clients of mine. When all is said and done, my customer satisfaction rating is one of the highest in the business with more than 95% very happy clients. I can count on one hand the number of clients who did not say when surveyed that they would recommend me to their friends and family for future Real Estate deals. These are their gracious testimonies about my work helping them buy and sell their Austin area homes. I would love to add you to my list of clients and friends.

Here is what they said about me, their Austin area Realtor ®.
"As a Real Estate Investor, I had been successful buying and selling properties without the use of an agent, however, on my most recent transaction I called on Tim Thornton from Zip Realty. Tim took care of everything, reminded me of when I needed to take action, taught me quite a few things that I did not know about selling a house and developed a sound strategy that brought a contract on the house in 8 days and closed. Tim is the best I have seen in this industry and will use him from now on." - Lou G, Austin, TX - Seller/Investor

"I would highly recommend Tim. He worked hard to find the right property and then stayed with us to quickly negotiate the best deal." - Edwin Y., Buyer / Investor, Austin

"I can't imagine someone being a better realtor than Tim Thornton. He is exceedingly conscientious, hard working, knowledgeable (on just about everything) and caring; he works seven days a week, and even on some holidays. Where did you find this guy; he's one in a million. Most importantly, he is committed to find you the home that you truly want; he won't let you settle for less; nor does he push you or make you feel uncomfortable that the process is taking longer than it should. He cares about you being happy with your decision; he understands how big of a decision this is for you. At one point in the process of looking for the "perfect" home, I started to get carried away with a builder's model that was considerably over my budget. The home had some issues and did not satisfy some of my needs, but it really was a spectacularly beautiful home, and I wanted it. After many days of looking and not finding what I wanted I was ready to put in an offer; even though it was not the right home in some important respects. Tim could see that I was ready to pull the trigger and make an offer, but Tim didn't share my same level of enthusiasm and it bothered me. At one point Tim looked at me and said, "Robert, are you sure this isn't going to be too much home for you?" That remark, brought me instantly back to earth and caused me to refocus and evaluate my thinking; Tim was 200% correct; it would have been a bad decision and he could see it. Any other realtor would have picked up on my enthusiasm and put me under contract immediately; but not Tim. Like I said, he is one in a million." R. Coulson, Buyer

"Tim Thornton is a good example of what a Real Estate Agent should be! There are very few Agents that would stack up to Tim. Very Professional! His assistance in a strange market made it easy to find the Real Estate we needed." - B. Smith, Buyer/Builder

"Tim continued to push on, despite the challenges of buyer indecision, offer rejection, and various roadblocks. He stayed true to the mission to find us a home that we were delighted to buy. In the end, despite many more process challenges, we are in the home the we wanted, thanks to Tim." - Buyer, Austin

"This is my second home purchase using Tim and as before he is probably one of only a few agents in Austin that knows what is going on in the Austin Real Estate market. A real professional!" - Lee Smith, Builder / Investor, Cedar Park

"Tim was very instrumental in getting the buyer of my old house's lender on track...Tim spent hours on the phone with him trying to persuade him to do his job!" - J. Mcnutt, Seller, SW Austin

"This is the second house we bought with Tim. We are so happy with his great service, that our daughter is buying her 1st house next week with Tim." - Buyer/Investor, Round Rock

"He was very patient and was not pushy. He did not waste our time with houses that did not fit what we wanted. I would and will work with Tim again very soon." - Buyer, Round Rock

"Tim was calm, creative, knowledgeable, savvy...it was amazing. I absolutely could not be more satisfied with Tim Thornton, and would happily be a reference for him. I will use him again and again and again." - J. Saliga, Seller / Investor / Builder

"Tim is a wonderful agent to work with, and I would highly recommend him to anyone!!!" - Elizabeth B, Buyer/Investor

"Without Tim's help, I do not believe we would have found a home that had everything we wanted that was in our price range. We also did not think that we could purchase a new home and were looking at used. The home we decided to buy was brand new and we would never have seen it if it were not for Tim suggesting we take a look at it." - J. Wood, New home Buyer, Austin

"Tim did an outstanding job for us in all aspects.Very professional." - Buyer, Round Rock

"Tim is a thorough professional. He has been there for us throughout the process. He knows his job and has steered us in the right direction. He has been very patient, responsive and honest in the way he has conducted business with him. Austin was a new city for us but with Tim we feel that he showed us all the options before we made the decision. His help throughout the process was exceptional. In future (god forbid if we have to sell) we will definitely work with him." - Buyer

"My parent's bought 2 homes with Tim and I will use him again also, in the future." - Destini R, Buyer

"Tim went above and beyond in representing us. He followed up with our builder on our behalf on several occasions and ensured that all issues were properly and promptly addressed. Every aspect of the deal was fully explained in layman's terms, and Tim ensured that both my wife and I were completely satisfied with his explanations before ending the conversation. I'd happily buy a house through Tim again and would recommend him to anyone in the market." - Jonathan Hickman, Buyer, Houston

"We would highly recommend Tim as an agent for the Austin area. He was very accommodating and helped guide us to the perfect home. If he didn't know about something, he would get back to us very quickly with the answer! Tim is an all-around good agent and good guy!!" - Gunther A., Buyer/Re-modeler, Lakeway

"I would be thrilled to recommend Tim Thornton to anyone who needs a realtor. We could not have asked for a better agent!" - J. Youngs, Buyer

"Mr. Thornton was a pleasure to work with. He responded to every phone call and/or email, almost within minutes. Had an intelligent response for everything we queried about, was incredibly diligent with respect to every detail of our home purchase, from questioning the inspection report, commenting on potential problems, resolving issues as they arose (and unfortunately, too many issues arose), and making us feel completely comfortable and at ease with his expertise and professionalism. In addition to doing his job as a Realtor, Tim proved to be a great person to be around. We would recommend Tim to anyone we knew who was interested in either purchasing or selling a home. He is an asset to Zip Realty." - John E. and Cirlei E., Buyers, Forest Creek

"From day one, Tim completely facilitated all our needs during our relocation and was invaluable in our search for the right home. We couldn't be more pleased with Tim and the outstanding service he provided." - Buyer

"Tim was great at keeping us informed and prepared for the next step and also managing the contract and closing. He was also always available even with last minute requests to see properties. We appreciate Tim's availability, integrity and knowledge." - J. Weatherly, Buyer, Twin Creeks

"I had two different buyer's agents tell me directly that Tim was doing an unusually good job representing me as they pointed out that he consistently called the buyer's agents for follow-up and immediately called them back to answer any questions they had. They said that it is rare to see such responsiveness and pro-activeness in the industry." - L. Gagliardi, Seller/Investor

"Tim did a great job... Tim was always there to answer our questions. The overall experience was very good." - Buyer

"Tim is a very knowledgeable, trustworthy agent. He is committed to ensuring his client has all the information he or she needs before closing a contract. When it came down to completing the transaction, he was a pit-bull in all aspects of the deal, following up on all of the commitments everybody made to make the sale happen. Overall, Tim is an A+ agent and I'll work with him again and again." - Buyer

"This agent was very helpful and listened to all of my needs as a buyer. He was always available and returned phone calls in a very timely manner. He also kept in touch throughout the whole process." - A. Martinez, Austin, Buyer

"I would definitely recommend Zip and Tim Thornton to my friends and colleagues." - Seller
"Tim was wonderful in every aspect. From the very beginning of our search he was always there to help and patient with our specific requirements for our new home." - D. Cole, Buyer

"Tim has been very helpful throughout the buying process. We are very satisfied with his real estate knowledge. He even acted as our proxy during our overseas visit and did not let us feel that our absence is any handicap in the closing process." - A. Shiraz, Buyer

"Tim was a very thorough Agent and a good friend. He saw to all our needs and questions. There was no stone left un-turned." - K. Hackney, Buyer, Georgetown

"I'm very happy that I was able to deal with such a wonderful person such Tim. He is professional, knowledgeable and a very caring person. I can't say anything wrong about him. He was always there for my questions and insecurities of buying a house. He guided me through it all and advise me in many things that I was not aware of. It was a pleasure working with Tim and I'm very happy with my new house. Thank you." - Blanca F., Buyer, Austin

"You can't go wrong working with Tim..." - P. Hennigan, NE Austin, New home Buyer

"Just wanted to let you know again how much we enjoyed working with you. We are closing on our house today in Kansas City and the Realtor there that we are working with is not near the professional that you are!" - Buyer/Investor, North Austin

"We found Mr. Thornton to be very helpful and knowledgeable in our endeavor to buy a home. He went out of his way to get us the best deal possible. Kudos to ZipRealty for having such friendly and sincere agents." - Azra and Latief K., New home Buyer

"I WAS COMPLETELY SATIFIED WITH TIM THORNTON I WOULD RECOMMEND HIM TO ALL MY FAMILY/FRIENDS" - P. Distel, New home Buyer

"I love the way Tim helped us. He made me feel like I was the only client that he was representing. He had a lot of patience with us... Thank you Tim." - Buyer

"We are very happy to have Tim Thornton who guide us efficiently in choosing our new home. Thank you so much." - J. Wilson, New home Buyer

"...thanks to Tim getting us with the right people, everything went so smoothly and we love our new home." - V. Day, New home Buyer

"Tim was just great at getting things done when I asked. He kept me informed all the time on up dates on the house and when I asked him something and he did not know the answer he found out what the answer is right away and got back to me. He is great and I would give my friends and family his number." - D. Hill, Buyer

"Tim was a huge help in buying my home! He provided all the advice I asked for and more knowing I was a novice in buying a home. He went out with me many nights/weekends and always had time for me either on phone calls or meeting with me. I would highly recommend Tim and Zip to everyone I know!" - M. Forsythe, Buyer

"...I had a million questions and Tim took the time to answer every one of them and walked me through the entire process. I couldn't have asked for a better agent to work with throughout the house hunting and buying process. Tim was awesome. " - A. Ricketson, Buyer

"Tim and Kevin were great. They were very responsive and were very straight-forward during the entire process. I would definitely use them again." -Buyer and Seller, Falconhead

"Tim was very responsive and thorough in answering all of our questions, and taking care of the various situations that arose in the purchase of our condo." - Buyer

"Tim is an outstanding Realtor. He was always available and very professional " - H. and F. Gnuechtel, Builders/Seller

"Tim is very much attuned to his clients and always seams to have time to work with any problems you might have. He is also extremely good at following up on any potential buyer's leads and always tries to up-sell your property with the potential buyer and buyer's agent. I would always recommend Tim as a listing or buyer's agent." - Seller

"Tim's experience was extremely helpful for us given our lack of homebuying experience. He advised us with knowledge and allowed us to take on this endeavor with confidence." - A. So-Ying Fan, Buyer/Investor, Austin

"To anyone looking for a really friendly, knowledgeable and an all around good guy real estate agent, you need look no further because Tim Thornton is your man. He works hard for you and will answer every question you have in a professional and friendly manner. He is up front and honest, and will tell you reality not fantasy when it comes to buying/selling your home. I highly recommend Tim as an agent and will recommend him to all my friends/colleagues in the Austin area." - Seller

"Tim was a great agent. He was always willing to meet and show us houses in a prompt manner. Tim gave us great suggestions and guided us through the whole process." - G. Olinger, Central Austin

"Tim Thornton is a wonderful agent, very helpful and very knowledgable in his feild" - M. Rodriguez, New home Buyer, Crystal Falls

"Tim was very on top of things, and he didn't try to 'sell' me. He informed me and helped me with the process, which is exactly what I wanted. He was always on time and willing to meet me at any location. His emails of new postings were extremely helpful." - S. Whited, Buyer, Re-modeler

"Working with Tim, made our experience much easier here in Texas. He was very knowledgeable and accessible at all times. I was very pleased to have a realtor like Tim." - Alba Helms, Buyer

"Tim was completely professional, answered all my questions and was very positive throughout the whole experience." - J. Killebrew, Buyer

"We met Tim via the Internet and then via phone from California. He was invaluable as our family made the decision to move to Austin, and he was very patient as my husband and I made multiple trips to see Austin areas and homes. No pressure! We would highly recommend Tim to any friends who might be following us to Austin as their new home!! As we searched online for homes, we happened to "save" homes via ZipRealty and Tim Thornton. After many, many virtual home searches, Tim contacted us via email and asked if we were looking to buy in Austin. Living in Los Angeles, CA, we knew very little to nothing about living in Austin, TX, but the city looked appealing to us. From our first telephone conversation with Tim, we knew we were in good professional hands. He knew Austin, he knew the housing market, the schools, and he knew how to work with out of state clients.Between August 2009 and December 2009, my husband and I visited Austin several times to look at residential areas and specific homes. Tim made himself available to us each visit, with patience and professionalism. As we decided on a brand new home from a renowned builder, Tim did all the negotiations on our behalf. Essentially he said a price that we were comfortable with, and the builder agreed. This was a pretty painless process for us. While we were not his only clients, Tim made us feel like we were. Tim's online blog is also a wonderful resource of information about Austin and the real estate market! We continue to read it even after we've purchased and moved into our home! We highly recommend Tim Thornton as a real estate professional." - Jenny and John R, Steiner Ranch, Buyer/Realtor

"Tim was a big help to us. He is also very knowledgeable, eager to help and friendly." - Buyer

"Tim is an honest and moral agent which is probably why he is so successful even during these tough times for real estate." - Emerson S., Buyer, Austin

"Tim worked very hard for me and with endless patience. He responded quickly any time I wanted to see a home or ask a question. I would be confident to recommend him and ZipRealty to my friends." - Elizabeth B., Buyer

"After working with Tim on this sale and previous dealings he is still in my opinion one of the best, or the best Real Estate Agent in the Austin market." - Lee Smith, Builder/Investor/Seller

"Tim was great. We were very impressed and happy to work with him. He was committed, worked hard and made everything easy."  Pat R, Buyer, UT Austin Area

"We enjoyed our experience with Tim for his expertise and professionalism. He was always pleasant and patient and it was a pleasure to know him." Barbara and Fred M., Buyers, River Place


If you need a Realtor ®, I would be honored to assist you in your home purchase, search or selling your Austin area home.


tT

Tim Thornton, Realtor ®
Top Producer 2010, 2009, 2008
Century Club member

Zip Realty, Inc.
Austin, Texas
Tim Thornton, Realtor ®, Austin, Texas.

How To Buy A Foreclosure in Austin or Anywhere

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There are certain assumptions that often go along with the purchase of foreclosure properties. The most common assumption is that banks are happy to receive virtually any offer on a foreclosure--especially a cash offer.  But this is not how banks look at their assets. Banks have no emotional investment in a property. It is just a non-cash asset to them. Furthermore, banks are looking at their bottom line, first and foremost. When a bank gets an offer on a foreclosure property, they are doing what any seller would do--looking at how much is due on the loan vs how much the offer price is on the property. If it makes financial sense to sell--they will sell. If it does not...well, don't expect the bank to do something unnatural.
Not all banks are the same when it comes to foreclosures either. Every bank and every transaction is going to be unique. The bank is looking at market value of the home, how much is outstanding on the loan, health of the local market and how long it takes for a property to sell, their larger outstanding portfolio, internal policies, investor restrictions and potentially a host of other factors that play into the decision making process. So, how to you break down these walls and figure out how to get a good deal on an investment foreclosures?


Q: How do you get the biggest bang from your foreclosure purchase?

First of all, "hire" one full time Realtor ® who is active in the current market and whose portfolio includes investors. Having a Realtor who also personally invests in Real Estate is a good idea, but at very least you need a Realtor ® who has investor clients and understands investment real estate.

Secondly--Prepare for your purchase. 
  • Know your budget range upfront. If you don't know your budget, you will not be able to get started. This is not something you should figure out later.
  • Know how you are going to finance the loan. Get pre-approved from your Realtor's recommended lender upfront--not after you find a house to purchase. If you need to move funds around to buy the house--do it now. Don't wait.
  • Know your exit strategy. Will you lease for 3-5 years and then sell? Can you afford to just break even on the monthly rent/mortgage payments--if so, consider a 15 year loan for faster property equity.
  • Don't let your Realtor ® be the only one looking. Log in and look for homes everyday and scourer the available listings daily. When you see one that looks promising, contact your Realtor immediately to get his input.
  • When a house hits the market that looks viable--go see it within 24-48 hours. If it looks great--go see it that day. Don't wait. 
  • When you find the property that meets your requirements--make an offer that day. Don't make the mistake of waiting. Even one day can be the difference between being the offer of consideration or being one of many offers. This may be the most important piece of advise I can give to a new investor. Don't hesitate. 
  • Build a relationship with your Realtor ® so that he is always thinking about you and knows that you are serious about your investment strategy and needs. If your Realtor ® knows that you are ready to pull the trigger immediately and that you have a realistic expectation of the market, you will get a lot more of his time and attention. Your Realtor ® wants to help you, but Realtors ® only get paid if you buy and investment properties are not huge revenue for the Realtor ®--so your Realtor ® needs to know that you are ready to pounce on a property when the day comes.
  • Get your Real Estate news locally. Don't just listen to the national news or read the news for one part of the city and assume that it applies to the area where you are buying. It most likely is unrelated information. This is another reason why your Realtor® needs to be well connected to the market and you need to be well connected to your Realtor®
Buying a foreclosure property can be advantageous--if you know what you are doing and your financial reflexes are fast. Early birds. Worms. That sort of thing--you know.

Call me. Let's Talk.

Top 10 Things You Should Know Before Buying Your Home

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Whether you are buying your first home or this is your third or fourth home, you probably don't do what I do 65 hours a week--working Real Estate transactions and numbers. New homes or resell--there are huge advantages to having a Realtor working for you (for free to you!). What a Realtor knows and how a Realtor negotiates a transaction for his client, is very different from buying a new car or other large dollars negotiation. Realtors are using unpublished information and relationships to work through the best possible deals for their clients--even on new home transactions. Especially on new home transactions. 
Every year I meet buyers who believe they have negotiated the best possible deal on their own with a new home or resell, only to find out later that they did not know what they did not know. Real Estate is a business and this business should not be treated casually or lightly. Being good in this business is more than reading a few listings and the opening door to available homes. Your Realtor should be smarter and more experienced than a taxi driver or open house host.
If you are preparing to buy a home, even if you have purchased a home in the past, you should take just a few minutes and listen to this complete video. And after you have listened to the view, give me a call. Let's Talk. Tim Thornton, Realtor ®, Austin, Texas.

The Austin Golfer: Forest Creek Golf Course and Community

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Continuing my series this year on Austin's most challenging golf courses and outstanding golf communities--let's talk Forest Creek Golf Course and community. Located in Round Rock, just 25 minutes from downtown Austin, Forest Creek Golf Course is a semi-private/public course and this course is all about it's name sake--trees and water. With one of the higher slope ratings in Austin golf, this course has more than its share of signature challenges.
Forest Creek hosts one of the most important events in Austin golf each year--The Central Texas Amateur Open. Golfers with ambition to join the professional tour, have to clear the hurdles of the amateur tour first and in Central Texas that begins here.







This course has a few "signature holes" with lakes and beach front property, but if the water doesn't beat you--you may still not be out of the woods. Some of the deceptive holes to watch out for include #9. It starts out with a seemingly simple drive toward water and sand traps, but baring a perfect position in the drive, you are left with a short lay-up with water on both sides and a precise third shot to a very high elevated green. Very demanding green location. In fact, there are a number of holes with elevated or de-elevated greens. And many of the fairways cross the creek or encounter water just before the green. Double dog legs. Narrow gap entries to the green with forests on each side. Long charges up big hills that don't look so challenging on paper--but don't be fooled. There is a reason why the Amateur Open is held here every July.
The Player Development Program (PDP). Forest Creek is one of just a hand full of courses in Austin that offer an incredible program for individuals or families to learn how to play golf from the PGA Pro's. The PDP clinics are held four times a week. In the PDP you can learn how to use all the sticks in your bag--from putting, to driving, short irons, long irons, hill shots, sand--if you want to learn this game in less than 20 years, there is no better way than joining the PDP clinics. And if you live in Forest Creek, it is just that much easier.

It is the dead of winter out now and two things stand out here--golfers are playing golf in their shorts (most days) and this course is in great condition. Coming out of the great drought of 2011, you would never know it from playing at Forest Creek today. The greens are clean and the fairways are rich. If you have not played Forest Creek Golf, or you are looking for a great golf community to live--give me a call and let's go play Forest Creek this week!

Sicilian Baroque Architecture: West Austin Home

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This beautiful Sicilian Baroque architecture is situated on over 2 acres of prime
West Austin Real Estate. It sits high above the Westminster Glen Estates hill country. Securely located behind private security gates--this home boasts wonderful court yards, immaculate landscaping, two-2 car garages (4 cars) & over 8300 square feet of luxury home surrounding a beautiful custom negative edge pool & spa. Five bedrooms & Seven bath rooms in the main house & 2 large private “guest quarters” over the garages with additional kitchen, laundry & baths that are perfect for sound studio, private living quarters, business office or children's game rooms. Other features include: Wine cellar, full Theater, Billiards & Bar, Grand foyer & much more.

Showings by appointment.

  Tim Thornton, Realtor ®, Austin, Texas.

Austin Real Estate is Busting Loose at the Seams

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If you are wondering why I have not written anything during the past two weeks, it is because Austin Real Estate is just busting loose and booming. Really. It's not just me, but every experienced Realtor that I know that has been in this business for very long and knows what is going on is being inundated with activity right now. Why is that?

Here is what is happening right now:
1. Inventory is low. This means that the number of available homes for sale compared to the number of buyers who are buying homes is low. There are possibly as many buyers as homes. (If you have a home that you are considering putting on the market this year--let's talk soon). 
2. Buyers are "fighting" over houses. Well, not really fighting, but we are definitely seeing an increase in multiple offers--a big increase. This is the most challenging time for buyers, coming out of a national real estate crisis--it can be hard to understand why Austin's market is so fast paced compared to many places where people have moved.
3 Houses that show well and are priced right are selling. While a Seller's Market does not mean that all houses will sell fast or sell at all--it does mean that homes that are move-in ready and priced to market are selling fast--near, at or above the listing price. Unless there are issues or concerns for the buyers, we are seeing homes sell. 
That's the recap. I am sorry that I don't have more time to write, or add to The Austin Golfer this month. At the rate the market is moving right now you may have to call me and talk to me about buying or selling your home--rather than us catching up on the blog. I am available to help you with your Real Estate needs 7 days a week. Just call me--Let's Talk.

Austin Area Home or Investment Property?

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In the Real Estate world we have been conditioned to think of Real Estate as an Investment. While this is partially true, it is also a major obstacle for buyers looking for a home that will make them happy. They find a home that they really like and then they begin to look at it as an investment.

Yes, your home should be a good investment. After all, the reasons why you are buying a particular home should be the reasons why some other families in the future are also interested in this home. Unless it is a really odd home--your connection with a home should be shared by some portion of the population in the future. The problem comes when a buyer looks at a potential home purchase equally as an investment and their future home. Finding the home that connects with the buyer and the buyer that connects with the home is a completely different formula than finding a proper investment property. Investments are investments. My home is my home.

I invest in Real Estate, and while I buy "nice homes" in good communities with good schools, amenities, etc., I am not looking for a home that works for me and my family. It is not my goal. I am looking for an investment with short term or long term returns. On the other hand, when I buy a home to live in, I am looking FIRST and FOREMOST for a home with which I make an emotional connection. Yes, it will be a good investment, because we will buy in a good area with good schools where others will want to live in the future, but we will not find this home at 10% below market value. I am willing to pay market value for the home where we are going to live every time--because I want this house, in this community, on this street. Make a bargain? Probably not. Get a great house and good future investment? Always.

It may not make business sense, but personal real estate ("my home") has a layer that is intangible and unrelated to business school fundamentals. You can't touch it or measure it if you don't do what I do 70 hours a week, but it is absolutely there and it is how we buy personal real estate. Buying a personal home based on business fundamentals is as flawed an approach as buying investment property based on how much you connect with the house. The two are unrelated. Buyers who can not separate these two ideas really struggle with the home buying process.

When you are ready to buy or sell your next Austin area home or investment, give me a call. Let's talk. Tim Thornton, Realtor ®, Austin, Texas.

Passing of an Age--No Longer Keeping Austin Weird

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This week marks the passing of an Austin icon and the passing of an age in Austin. Though he was never on the personal invitation list of social gatherings or dinner at the Mayor's home--he was mentioned and memorialized this week by both our Mayor and private citizens throughout Austin. We say good-bye to Austin icon of the homeless--Leslie Cockran. 
"Leslie" as he was widely known to downtown area patrons, locals and visitors alike, was infamous for his scant attire and downtown presence. He was so well known that at one time refrigerator magnets were made with clothes magnets that could be used to dress Leslie on the refrigerator. Why anyone would want to do this before eating may be beyond imagination, but now that Leslie is gone--only fond memories and kind words remain.
So, time marches on and Austin continues to change. The day and time when Austin was most associated with the phrase "Keep Austin Weird" is coming to a well deserved demise. Yes, Austin will always be unique among Texas cities and Austin will continue to stand out among some of the more traditional Texas sister cities, but the words "Keep Austin Weird" just don't fit Austin as they did in decades past. With the onset of skyscrapers in our downtown horizon, High Tech becoming one of our biggest industry draws, SXSW, ACL and other festivals having national presence and draw, the opening of the first F-1 Race Track in the nation and many other growth ventures in the Greater Austin area--it is just hard to put Austin in the Weird bucket any longer. I put Austin in the category of Outstanding! High growth. Great jobs. Wonderful entertainment and music. Great weather. Indoor and Outdoor venues. And one outstanding real estate market--one of very best in the nation. Nothing weird about it. Just a great place to live, work and raise a family.
If you want to talk about Austin Real Estate, give me a call--Let's Talk.

Tim Thornton, Realtor ®, Austin, Texas.

Which One Would You Choose to be Your Austin Realtor?

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This is the selling season, when buyers buy and sellers begin looking for the right Realtor to represent you, market and sell their home.  You may know a Realtor in your community, so here are some questions for you to consider before selecting a Realtor to represent you to sell your home.
Given the choice, which of these two people would you choose to represent you to sell your home?
Marilyn Monroe? Beautiful. Famous. Easy to talk to. She knows lots of people--but does that help you market and sell your house? Are her friends in the market for a new home? And as a buyer, would you buy a house because the listing agent is attractive and nice? She also has other homes listed in the community. Does that help you sell your home? (I really like Marilyn Monroe and I am a fan of her movies--but personally, I don't see the value in her being my Realtor).

How about Anne Oakley? You may not know that Anne Oakley was a real person and that she was as big as her legend. She may not have been the most attractive person in history, but she was a person with incredible talent and a well honed skill in her profession. She could do with a gun what few people in her generation could even imagine and she was not afraid of being different. She was known far and wide for being one of the best "shooters" around and for those in her day who did not know her--they learned fast that they were no match for Anne. Anne was one of the best in her field--bar none. 

Q: So which personality would you choose to list and market your home? 
Here are some other questions to ponder as you think about listing your home:  
Q: Would you choose your Realtor based on where they live? or would you choose based on how much money they spend each quarter to market your home to buyers online?
Q: Does your Realtor neighbor know how many agents work for their brokerage in Austin, but can't seem to remember how many houses they closed for clients last year?
Q: Does your Realtor neighbor have more "designations" and "classes" behind their name than the number of clients that they helped buy or sell a house last year? 

Q: Would you choose your Realtor based on their sweet personality and number of social committees that they sit on? or would you choose based on their business savvy and market knowledge?
It's your choice and I don't pretend to know the right answer for you and your family.
If I can be of service to you in your home listing or your next home purchase in the Greater Austin area, for investment or for your personal home--please do give me a call and Let's Talk.
Tim Thornton, Realtor ®, Austin, Texas.

Useful Gadgets for Your Home

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I spend a lot of time in home improvement stores because I want to know what the market prices are for things like granite counter tops, wood floors and new stainless steal appliances. But I also like finding new tools and gadgets there. My father was a Pilot and an Air Route Traffic Controller and he was also very good with power tools. I learned home construction and building from my father while I was still in high school. I also inherited his love for tools and gadgets while I was growing up. I can lose an afternoon in the local home improvement stores. Could I live without the toys? Yes, but what fun would that be?!

Today I dropped into my local home store and noticed two gadgets that you may want to have around your new home. Not just for fun. They serve a robust purpose and if you like gadgets--you will love these inexpensive devices. (Manufactures: if you would like for me to write a review of your specific product--give me a call. Let's Talk).

The first gadget is a "Power Usage Meter". These devices let you plug electronics, computers, TV's, or other devices through the meter to determine just how much electricity they are consuming. Depending on the device's features, you may be able to program your actual energy costs and determine exactly how much it is costing you to keep your phone battery charger plugged up to the wall 7 x 24. There are also "whole house" versions of these gadgets that can read certain digital power meters that are starting to show up on homes in the Greater Austin area. These gadgets cost more money, but allow you to read and monitor whole house power consumption and give you real-time energy consumption costs. Very cool technology.




The second gadget may take you a little more effort to get your head around, but this is also a very helpful tool to have around the house. In fact, when you had your home inspected at the time of purchase (you did have it inspected--right?), the inspector probably used one of these gadgets to tell you something about the condition of the house.  

A Moisture Meter is a device that tells you the moisture content in a piece of wood, window seal, door jam, flooring or any place in your home where water may have penetrated into the house. In Austin, we get a fair amount of rain, so windows and doors require ongoing maintenance to insure that water does not make its way into the house (slowly and gradually). This eventual water penetration does not usually occur like a flood, but like a air coming into your house--you don't see it, but it is happening. The moisture meter let's you test the water content around window seals and doors to make sure water is not coming in and destroying the wood around these entry points in the home. Like I said, it is a little harder to get your head around this one, but this little device is a lot cheaper than an annual house call from an inspector and having your handyman caulk around windows is a lot cheaper than replacing window seals and door jams. Prevention is always cheaper than repair.

Check out these devices and check back here to see if I actually review any specific manufacturer's devices.  Yes, Manufacturers, I will review your home gadgets. If you have a device or home product that you want me to review by name--give me a call. Let's Talk.

Tim Thornton, Realtor ®, Austin, Texas.

Austin Real Estate Market Update - Q1 2012

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It's a little early to be talking about the Q1 numbers and normally at this time of year I would be looking into my crystal ball to forecast how strong or weak the coming year may turn out to be--but this year is already different. Really different. 
Here is the snap shot:
  • Inventory in most areas of Austin is low--very low
  • Buyers of all price brackets are out early in great numbers
  • Multiple offers are back again in the Austin market 
  • Interest rates are starting to bump up
  • The big three still govern which homes are selling and which homes are sitting on the market--waiting for a buyer:
    • Home must show well
    • Home must be priced to market
    • The home has to be well marketed
  • Investors are here to stay
Here are the market stats for the YTD Q1 2012 numbers:
  • 3,442 total homes sold -- ~6% increase over 2011
  • 3,102 were single family homes (SFR); 339 were condos/townhouses 
  • 3,412 SFR homes are currently under contract to close with ~ 30 days
  • 6,793 SFR homes  available for sale
  • Median SFR - Travis County listed for ~ $230,000; sold for ~96-97% of list
  • Median SFR - Williamson County listed for ~ $175,000; sold for ~95-98% of list
  • Luxury Market Sales: 
  • 785 homes sold or pending to close: $400k to $1M
  • Premium Luxury Market Sales: 
  • 88 homes sold or pending to close: over $1M
My "Crystal Ball Forecast":
  • I predict that we are going to see "more of the same"
  • Interest rates continuing to inch upward each quarter
  • Home prices continue to increase all over the city
  • Multiple offers continue on listings that are priced to market
  • Low supply; high demand
In Summary:

The Austin market continues to be quite healthy and gains new momentum every passing month. The current market seems to be transitioning from Moderately Strong to Full Steam Ahead!
With low inventory levels and higher than normal buyer demand, we are entering into a seller's market where homes that are priced right and show well--are selling faster than normal. 

If you are planning to BUY or SELL Real Estate in the Greater Austin Area in 2012--Let's Talk.

Don't Miss Your Perfect Home

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I help about 25-30 buyers and sellers every year find their new home in the Greater Austin area and every year I have two or three clients who find a home that they feel very strongly about owning--but then they hesitate. They want to think about it for a few days or a few weeks. Suddenly, the house is gone. Sold to someone else. Often times someone who was looking at the home the day before my client saw the home.

The natural reaction, at first, is to think "Well, it was just not meant to be...". And that may be so, but if the buyers were still content that they lost that home a month or two down the road, I don't think it would continue to weigh heavy on their minds. So very often when this happens buyers continue to ask "What about that house...did it sell?" or "We still have not found anything that compares to that home. We will just have to keep looking." It is a conundrum.


In a fast moving market like we are seeing again this year in Greater Austin, some times you have to pretend like you are playing football. You are the wide receiver. On some plays you are the designated receiver. Some plays you are not. Either way, the ball may end up coming your way! You never know. You just have to be ready to catch it and "run like hell" when it does. You will know it when it happens to you. You will feel it in your bones, but if you hesitate--you may end up watching someone from the other team score with your intended ball. Yes, sometimes it may be meant for you...make sure you are ready when you find the ball in your hands. 

If you are looking for a home in the Austin area...give me a call. Let's Talk. Tim Thornton, Realtor ®, Austin, Texas.

Falconhead Golf Course and Country Club Community

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Austin has golf. Phenomenal golf. If you want to experience great golf--take the rest of the day off today and head on over to Falconhead Golf Course. I will meet you there.
If you are on the south 620 corridor or anywhere near the Lakeway or Oakhill areas and you have not figured it out yet--Falconhead is your premier PGA designed golf course. In fact, if you are not in the area--you should be. This is a top rated, well designed and incredibly well kept course. Yes, I rave about how some of the best courses are kept in the Austin area, but what you are not hearing is how some courses don't make the mark for great greens and great fairways. With some courses "reading the greens" is code for avoiding the dead spots on the greens. At Falconhead you will have to read the greens like a pro to putt well and play your short game. Fast. Slow. Direction the grass is growing. It's the next step up in your short game!
The "minimalist" design of Falconhead is different from many courses you will play in Austin. But you shouldn't be fooled by this word. Minimalist does not translate to "easy". In fact, this description is deceptive. Ever so slight contours on such well kept greens may be the difference between a good lag shot and a 9 foot third putt. And I should mention the sand here. Falconhead has some of the most unique and longest sand traps that you may ever play. Something that you don't expect--a sand trap that is nearly 100 yards long and has geometric grass islands in the middle. It's something that you will have to see for yourself and it's a great excuse for getting out today to play Falconhead today.
Just a couple of last thoughts here and I will leave you with two video interviews from the Pro's at Falconhead, Laura Gunia, PGA Director of Golf and Steven Septoski, Assistant Gold Professional. If you are looking for match play, skins games, special events, couples play--get on the email list and get regular updates for what is happening. They may do events better than any course in Austin. 
One final comment that you will have to experience first hand--Falconhead has one of the most beautiful and intimidating Signature Holes in Austin golf. A par 3 over water. Elevated green. Sand. Just under 200 yards. Unless your golf balls float--it's a challenge.
Enjoy.

Tim Thornton, Realtor ®, Austin, Texas.

Schlitterbahn Coming to Cedar Park?

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If you like water and you like fun, you should be planning your next vacation to Schlitterbahn. Better than that--just wait a couple of years and you can get a season pass and take the kids every weekend!

Yes, it appears as though Schlitterbahn is going to come to the Austin area (Cedar Park--that is).

Community Impact News is reporting that the negotiations and planning with the Developers, City Government and Investors are back on the table and potentially getting to a decision point. Normally, I might tell you not to hold your breath, but for this one--hold your breath. I think it will happen and I think it will be great for the area. Good for residents, investors, business--good for everyone. More traffic? Of course there will be traffic. Austin is growing and along with this comes more traffic, but traffic on 1431 and Parmer is not heavy today and Cedar Park is looking at ways to address the future traffic in the area as well.

No kidding, if you want to have a lot of fun in the water, check out one of the many Schlitterbahn Parks. These guys are known as one of the top water park designers and innovators in the world. It's all good.Tim Thornton, Realtor ®, Austin, Texas.

Should You Go Directly to the Seller or Seller's Agent?

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Ssssshhhhhh! It's a Secret. Or--so you might think. 
"Oh, we are just calling the agents from their listing signs to talk to them directly about the houses. We don't really need a Realtor to represent us." I hear these words a lot from buyers during our first conversation and I wonder why Realtors may not telling buyers what I am about to tell you.
Buyers often believe that by going directly to the listing agent, they can get more information about the home and get a better deal. So, first of all, you should never get more information about a home, property values, potential problems, red flags, comprehensive comparables or condition of the home directly from the listing agent than you can from an experienced Buyer's Agent who is representing you and your best interests. Here is why. The Texas Real Estate Commission has drawn the lines of representation very clearly between buyers and sellers. The Listing Agent only represents the interests of the seller for a specific home or property. The listing agent has to hold a very tight line of representation to the seller, which includes not telling potential buyers about things that might propose a concern about their listing, if the listing agent does not know it to be a verified fact.
For example. I show about 500-700 homes a year to potential buyers. Often times when showing homes to my buyer clients, I will point out potential issues with a home that the buyer may not be looking at. These may be small cracks in the walls, floors, foundation or other potential issues like road noise in the back yard due to the proximity to a major road. There are a host of potential issues that may come into play for a given buyer and I don't pretend to be able to catch them all, but I do my best to point out possible issues down the road. The truth is, there are always trade-offs in real estate, so the question with all buyers ultimately comes down to "which trade-offs are you willing to live with which ones do you really want to avoid at all costs?" But to make decisions of trade-offs, you need to know everything that I know or think I know about a given property. NOTE: The listing agent can't raise these red flags with you about their listing, because this is not in the best interests of their client--the seller. Their job is to "sell" the home and if you are the buyer, they will be selling you--not helping you figure out what works and what does not work for you and your needs.
When a listing agent shows you a home, they should let you know that they only represent the seller--for that particular property. I know it seems obvious, but the Texas Real Estate Commission feels pretty strongly about this point--such that they recommend that Realtors give buyers this document (Information About Brokerage Services) when meaningful conversation about a property begins. This includes an event where a listing agent takes a call from a buyer on his/her listing and the listing agent goes out to show the house to the potential buyer. This document explains that the listing agent represents only the seller for this property--never the buyer and seller at the same time for a single property. The listing agent's job is look out for the interests of the seller--not the buyer. The buyer's agent's job is to look out for the interests of the buyer. These two lines should never be blurred in Texas Real Estate. (Note: this works in a similar way when looking at new homes directly from a builder. The builder sales person represents the builder, not the buyer. So, no matter how nice the sales person is or how helpful they may be--at the end of the day they are paid by the seller and they represent the seller--not the buyer. The only difference here is that most builder sales people are not Realtors or licensed by the State of Texas. So, many of the guidelines and boundaries that Realtors have to follow in Texas, builders do not have to adhere to because they are not licensed Realtors). 
Here is the bottom line: If you are buying a home in Texas--new or used--you should have an experienced Realtor working for you for every home that you are considering. Don't make the mistake that some buyers do and think that you can do this on your own with greater success than a licensed and experienced Realtor.
Important NOTE: I am not a Real Estate attorney and this article is not meant to give you legal advise or legal recommendations.  If you have questions about Texas Real Estate law or contracts you should always contact a Texas Real Estate Attorney to discuss your specific situation and questions. And if you have not read the document that I referenced in this article, click on this link--and read it for yourself. This is a great place to start.

Tim Thornton
Austin Area Realtor

Strength of Community as we Live It, Love It, Share It

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I started this Blog dedicated to Steiner Ranch about a week and a half ago.  The day after I named the Blog, created a logo, and posted a short introduction, this wonderful community experienced a wildfire that destroyed 24 homes and damaged approximately 30 more.  The date of September 4, 2011 will forever hold new significance for Steiner Ranch residents.  For perspective, the damage was contained to approximately 160 acres of the more than 4600 acres of Steiner Ranch in total.  The firefighters are to thank for their heroic and tactical efforts for this containment.
Throughout Steiner Ranch there is signage that reminds residents and visitors of our community motto:  Live It, Love It, Share It.  The immediate outpouring of compassion, assistance, generosity and cooperation from our community demonstrated how much residents indeed love it and share within it.  The Steiner schools immediately got behind the relief efforts, as well as local businesses and numerous churches throughout Austin.  Countless groups, neighborhoods and individuals stepped up and asked, "what can we do?", and they did it.
I have mapped out some wonderful and hopefully helpful/informative posts for my Steiner Files Blog.  These posts will be coming soon, but I wanted to pause and note the strength and bond of this community.
It may be a Texas thing.  It may be an Austin thing.  But it definitely is a Steiner thing.

                                                                                                                                                                       

Steiner Ranch -- Teams Tell A Tale

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When I meet people, I always ask, "where are you from?".  Yes, as a Realtor, it is my job to inquire, but it is also my nature.  And most people eventually get to this question when meeting others.

But often my observation in Austin's Steiner Ranch community is a flag waving from the front porch, a bumper sticker, or even a t-shirt and cap tell the tale of where residents are from...or at least have lived before.  College football team supporters.

No argument that there is a lot of burnt orange and white (UT), as well as maroon and white (A&M) proudly displayed around the community during coveted college football season.  Actually year round!  Visit homes, and you will find rooms dedicated to these teams, complete with thematic lampshades, rugs, showcased jerseys, throw pillows, commemorative helmets, and glassware.  But look a little closer, and you will see plenty of hints of "other" team alignments.

Gators, Fighting Irish, Seminoles, Cardinals, Trojans, Buckeyes, and the list goes on.  Observe:  a dad watching kid soccer with a Bruin cap.  A SUV filling up gas with a giant Ducks emblem across the back windshield.  A  jogger decked out in purple and gold Tiger wear.
License plates around Steiner Ranch reveal where people have arrived from -- Georgia, Colorado, New York, Florida, Oregon, and of course California.  But Texas law requires new state residents to get Texas plates within 30 days.  Those out of state plates don't last long...but the license plate holders do!

Steiner Ranch's exemplary schools, span of housing prices and sizes, organized activities for kids and adults, and vast amenities and more, easily draw people from across the USA, even the world.  Once here, many "transplants" quickly start wearing the Central Texas college gear (which is sold in every grocery store, gas station and even roadside).   Stickers appear on cars!  T-shirts appear on kids!  Only a fraction of transplants will actually attend a football game.  And some people like me, proudly support my out of state Alma Mater, AND cheer for the local guys too.  But it is all fun, spirited and Steiner accepted.

Steiner Ranch Goes to the Dogs With Proposed Dog Park

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Steiner Ranch community in Austin, TX is known and loved for its vast amenities --  geared toward adults and kids alike.  These amenities include miles of hiking and biking trails, three community centers with pools, tennis and basketball courts, parks and playgrounds, and the Steiner Ranch Lake Club on Lake Austin.

Now Steiner Ranch's canine friends are being considered with a proposed dog park.

One of Steiner's Irresistible Friends
A dog park has been on the radar of Steiner Ranch HOA (home owner's association) and residents for a while.  I turned to resident Bob Withrow, who is assisting with current efforts to make a dog park a reality, for more information.

Where would the community put a dog park?  "Past studies have assumed a location in the Town Center recreation area between the existing pool complex and Quinlan Park Rd.  Away from homes, play areas and the pool," reports Withrow.  "The exact location/size has not been determined, but this is the area being considered."

How would the dog park be structured?   Withrow said, "Overall the dog park will be one contiguous space, however, the current proposal provides for separate areas for smaller versus larger dogs.  Much of the public information concerning the design of dog parks encourages for this 'safe play' consideration.  The areas would be sized proportionally."

Big Dogs Like To Have Fun Too!
A specific target date has not been established.  The Steiner HOA board needs to determine interest/support and cost factors.  Funding may come from the HOA, as well as fund raising and sponsorships.

Volunteers for the dog park committee are welcome; those interested should contact Sharon Adams in the Steiner HOA office:  sharon@steinerranchhoa.org

Austin is full of dog lovers, and Steiner Ranch is no exception.

Gotta Love Her!