Your Lake Living

April 11, 2021

Now May Be the Perfect Time to Sell

If you have been following along with my recent posts on Market Trends in the Highland Lakes area, you will note that there has been a lot of talk about the seller's market and the lack of inventory. This has not changed in the past month all that much, though, I am starting to get the sense that there may be some market balance in the future. There are a couple of factors that lead me to this conclusion.

The first is that lots are selling really quickly. In my own experience, there are individuals who are purchaing several tracts and, I suspect, with the intention of developing. So, we would expect that home building will continue to increase. If builders are able to keep up with the demand for new construction, we could see some increased inventory over the next six months or so.

The second factor is that it seems that homeowners who were considering selling, or maybe on the fence about selling, are starting to list their homes. It feels like there has been an uptick in new listings over the past couple of weeks. The strong seller's market is going to push some people into the market who may not have seriously considered it even a few months ago. 

The third factor is that as interest rates and competition for properties rise, it may push some buyers out of the market. This should lead to a more balanced market. Right now, sellers are asking, and receiving, higher prices than we would have expected. There are multiple offers within hours on new listings - homes and lots. If more homes and lots come on the market as we approach summer and demand wanes a bit, we should see conditions become more favorable for the buyer. 

With all of that said, if you are thinking about selling, now is a great time to do it. You can catch the market in a time when prices are highest for sellers. I have two properties that had been on the market for a bit, both sold for asking or near asking in the past couple of weeks. You may be able to capitalize on a very favorable seller's market. Summer generally brings more buyers into the area as well. So, it may just be the perfect time to get that house listed!

Posted in Market Updates
March 24, 2021

Market Trends, March 2021

Data from the Highland Lakes Association of Realtors suggests that the real estate market in and around Horseshoe Bay continues to be a strong seller's market, particularly in Marble Falls, Meadowlakes, and Cottonwood Shores. Horseshoe Bay is a little less so, but still really strong on the seller's side. The lack of inventory continues to drive the seller's market. Lots, which were plentiful throughout the winter, are getting scooped up as well. My advice to clients has been to act now. If you fall in love with a property, put in a strong offer or it may be gone this time next week, or even tomorrow. 

Nationally, according to the National Association of Realtors, new construction plateaued a bit over the winter which led to a flattening of inventory, but requests for permits are up over 20% which indicates that new constructon will rise in the spring and summer. This will help build inventory which should lead to a more balanced market. There are a lot of new constructon projects sprouting up around Marble Falls and Horseshoe Bay as well. If you are thinking of selling, now is a great time. Home prices are up over 30% in Horseshoe Bay over this time last year and over 65% in Marble Falls. With added inventory and rising interest rates over the next 6-9 months, the market may not lean as much towards the seller this time next year.

The outlook for the summer is that the market will continue to be strong. Interest rates have begun to rise after some historically low rates over the winter, but not to the extent that it has slowed borrowing. Two indicators - surveys and appraisals are taking four weeks or more to be completed - are good signs for a contiued strong market.

Posted in Market Updates
Feb. 27, 2021

Spring in Horseshoe Bay

One of my favorite things about living in Texas is the spring. I love it! The weather warms up, the wildfolowers are in bloom, and activity around the lake picks up. The Hill Country is a prime place to enjoy the best of what Texas has to offer. Whether it is shopping in the small towns that dot the area, participating one of the many activities on the lake, or engaging in activities such as golf or tennis, spring give us such ample recreatonal opportunities.

The Horseshoe Bay area comes to life in March. Flowers - lots of flowers, bluebonnets in particular - sprout along every road and in every field. People from around the state, and really around the world, return to this Texas recreational hot spot bringing energy with them. It is a vibrant and wonderful time to be in the area. If you haven't been, I recommend taking a weekend to relax around the resort. That is how I first came to know Horseshoe Bay. I spent one weekend - went on a boat, played a round of golf - and now I call it home. There is something here for most everyone in this beautiful, serene, fun part of Texas. 

Posted in Community News
Jan. 29, 2021

Market Trends, December 2020

As a crazy 2020 came to an end, the general trend in the Real Estate market in Marble Falls and Horeshoe Bay continued to be one of limited inventory.  The lack of inventory compared to December of 2019 in both areas continues to drive a strong seller's market.

That said, there are reasons to buy, or at least explore buying, at this time. The first is that mortage rates remain historically low. The thinking across the industry is that rates will stay low in 2021, but maybe not at the same levels as we see right now. The second is that although there is not a lot of inventory, the time from list to close was greater in December than it was in December of 2019.  The properties that are available may have some motivated sellers. It may be worth inquiring a little deeper into something that interests you. 

In terms of the forecast for 2021, there is an expectation that inventory will increase in the spring nationwide. Part of the cause being that completed new construction will add to the inventory. This seems consistent with the Highland Lakes area as builders are busy right now. People are buying lots, which are readily available, and building. There are also new housing developments in both Horseshoe Bay and Marble Falls that are increasing the housing supply. 

If you are looking to put your house on the market, now might be a great time. With inventory so low and expected to rise in the coming months, getting your place on the market soon may give you a bit of a competitive head start. The trend remains that people are looking for homes outside of the urban centers. Austin's housing market is really hot right now. Perhaps some of those buyers will look to the Marble Falls or Horseshoe Bay area, if they cannot find something in the Austin area. 

If you are considering buying or selling, then I would love to visit with you, to understand your needs, and to see how I best help. If you would like to take a deeper dive into the data, please visit the Highland Lakes Association of Realtors website's market reports.

Happy 2021 to you all.

Tony

Posted in Market Updates
Nov. 21, 2020

Christmas in Marble Falls

Are you a fan of Hallmark Christmas movies? It seems to be a growing trend this year. I love them. I love the small towns, great decorations, and the overall feeling of community and warmth that exudes from those movies. The reason I ask is because Marble Falls seems to hosting a Hallmark-type Christmas this year. Take a look at the events they are offering. There are so many offerings events incuding the 30th annual Walkway of Lights, shopping, Santa, Christmas Market on Main St, and a skating rink. I am going to explore this with my family as it kicked off last night! If you are looking for some small-town charm, Marble Falls has a holiday brew for you!

Posted in Community News
Nov. 2, 2020

Market Trends, November 2020

Hi there! I want to touch base to pass along some of the market trends that we are seeing this fall. I will focus on Horseshoe Bay and Marble Falls, but on the Highland Lakes Assocaition of Realtors website there are more specific market reports that cover the larger region. The overall real estate market has been a seller's market throughout the pandemic. People who are working more consistently from home are looking for more space, home offices, and realizing that they can work from a home anywhere - for exampe, near a lake.  

Looking at the reports for Horseshoe Bay and Marble Falls, they share some similarities with those national trends. Specifically, median sales price and closed sales are both up and active listings are down. Buyers are still looking for homes even as we head into the holiday season. It is still a seller's market. Past trends are that real estate slows after an election and during the holiday season, but we are still seeing buyer's looking to buy as we turn the calendar to November. 

If you have been thinking about selling, now may be the time to look a little deeper into it. Feel free to use my home valuation tool - to get an idea of what your home is worth in today's market. I'd be happy to follow that up with a conversation and Comparative Market Analysis to give further information to help you determine if now is the right time for you to sell. If so, I'd love to join you in that journey.

-Tony

 

Posted in Market Updates
Oct. 6, 2020

Why the Move to Horsehoe Bay?

Horseshoe Bay TXI spent many years visiting the Horseshoe Bay, Marble Falls area. I enjoyed activities on the lake such as boating and swimming, but it is mostly I just loved being by the lake. As I got to know the area, it became much more about the people and the area than even the lake itself. Don't get me wrong, the lake is awesome! It is beautiful, there are a lot of opportunities for recreation, and you can use it basically all year round - though it does get a bit chilly in the winter. 

There is more to the area than the lake, though.

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Posted in Community News
July 31, 2017

Curious About Local Real Estate?

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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Posted in Market Updates