A hot housing market in the summer is like a long wait at one of Austin’s fine BBQ joints – just expect it. This summer promises to be as hot as ever. As inventory continues to drop and there is no shortage of competition for offers, Central Texas is clearly a seller’s market. According to the Multiple Listing Service (MLS) report released by the Austin Board of REALTORS® (ABoR), April’s volume of home sales jumped up 32 percent to 2,563 compared to the same month a year prior, when 1,949 were sold. This sharp increase emphasizes how a shrinking inventory can squeeze the market into a competitive one. However, there is no need to be intimidated; this is not a case of David versus Goliath. Working with a REALTOR® will help your offer stand out.
For starters, working with a trusted REALTOR® means that you are working with a real estate expert, someone who knows up-to-the-minute housing data from the MLS. Working with a person with this data makes a difference. REALTORS® also know other real estate professionals, such as lenders, economists, appraisers, etc., and work with them to consistently bring you the information that you need to know.
Working with a REALTOR® also helps buyers move quickly and efficiently – a must in any market, especially a seller’s market. Keep in communication with your REALTOR®. There are steps that you need to take to purchase a home, and your REALTOR® will guide you through the process.
As Cathy Coneway, the 2013 Chairman of the Board of the ABoR, mentions in the KVUE clip featured above, buyers need to bring their best offer from the beginning. Properties are spending record-low amounts of time on the market, so buyers need to be aggressive. If you are serious about purchasing a home, show that desire to the seller. Your REALTOR® will communicate with the listing’s agent to keep you in the loop during the transaction, so that you can focus on making sure your offer stands out. Let a REALTOR® work for you and take the first step to finding your dream home in Central Texas.