June 2008

My Interview on Keye42 News last night

June 27, 2008

I received a call from a KEYE42 News reporter yesterday wanting to interview me about the impact on gas prices on suburban areas further away from Austin. I said “ok”. The link to the piece they showed is below. Keye42 Real Estate Interview The interesting thing to me about these interviews is how the final [...]

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Living in a World of Low Accountability and False Pride

June 25, 2008

I had to hold accountable a sheetrock guy the other day because he spent money advanced for a job on his personal bills instead of the job. Then he whined and complained when I temporarily fired him and refused to advance further funds. There is a process I follow when holding others accountable to the [...]

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Austin Real Estate Market – May 2008 Update

June 23, 2008

The average sales price for houses in Austin increased 5.14% in May from $259,958 in May 2007 to $275,711 May 2008. Sales prices had been flat or falling since Feb 2008, but May has us heading the other way again. We continue to have a large number of “failed sales” listings though, and days on [...]

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Location now has more weight in home selection

June 19, 2008

I have my first anecdotal evidence that gas prices will hurt values in far flung areas and help real estate values in closer areas of Austin. I just helped someone relocate from Wimberley to Austin. The reason for the move? Gas prices have made the commute costs unacceptable. For this individual, the tipping point was [...]

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Missed Flip Opportunity or Prudent Caution?

June 13, 2008

A couple of months ago I made an offer on a home to flip. I’m not actively looking for homes to flip in Austin, and I don’t help buyers locate flip opportunities, but when I come across a candidate property that I like, I’ll make a run at at. All of my attempts the past [...]

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Southwest Austin Future Looks Solid

June 12, 2008

This article about real estate in Southwest Austin was emailed to me today. It supports what we’ve been telling investors and buyers for almost three years now – South and Southwest Austin are the places to buy real estate in Austin. Nicely written, the article is from the online “Community Impact Newspaper“. Here you go: [...]

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Is it a House or a Condo?

June 10, 2008

You may not know it, but what we call a “house” in Austin has run into a semantics challenge. The photos to the left are of homes in a new neighborhood in which one of my buyers just purchased a new home. Look at the pictures. Do you see “houses” or “condos”? These particular homes [...]

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Remaining Cheerful When Under Verbal Assault

June 6, 2008

I had an angry Realtor unleash a vulgar cursing tirade on me today and challenge me to a fight. He said he’d come to my office “and settle this man to man”. I declined, not because I’m a wussy, but because it wouldn’t be prudent or professional. Plus, I have nearly a three decade streak [...]

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Gas Price Pain – Media Hype and Consumer Illusion?

June 1, 2008

I just bought a new 2008 Chevy Silverado Crew Cab and have been taking some heat for it from friends and on this blog where I wrote about the purchase experience, how I got a great deal, and the experience of interfacing with dealerships. The main themes: “How shortsighted”, “wouldn’t a smaller vehicle have worked?”, [...]

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When Inspectors Miss Important Defects – What Happens?

June 1, 2008

What happens when an inspector misses something during an inspection? Courtesy of Bob Petersen, Precision Inspection Many parties to the real estate transaction think that inspectors, like many other professionals, carry some sort of insurance for any oversights made in the course of their work. This was not the case (required) until 2007! Now, when [...]

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