Eenie Sullivan with Coldwell Banker United, Realtors Quarterly Newsletter October 2013

AUTUMN DECLINE?
Based on recent market reports, we will not experience the usual autumn decline this year heres why. All year we have seen more buyers for our area and less property for sale. Many listings sell quickly, leaving a low inventory. So what if we have fewer buyers in the last quarter. There will continue to be less inventory available. Lesson Learned: dont hesitate to list your property now. Our area is still hot! Property not updated is in demand for so called ippers. Remodeled homes are gorgeous and are selling for top dollar. (call me if you would like to view a Showcase property before it sells)..Enjoy a Lovely Fall & Happy Holiday!

EXCERPTS FROM INDEPENDENT VOICE

Economic markets are cyclical, and real estate is no exception. Typically, we see a period of expansion, followed by a contraction, followed then by stabilization and recovery and again into expansion. For those of you that have been through more than one real estate boom and contraction, you may be asking Where are we now in the cycle? (for a full report and graph check it out at www.IndependenceTitle or call me and the four page report will be emailed to you.) Texas Recovery/Expansion Supply and demand is in balance, and home/land value appreciation meets or beats ination. Austin Expansion Economic housing formation as well as other real estate channel demand exceeds supply. Austin is about 2+ years from the bottom of the market; we have seen healthy demand and fewer properties available resale and new construction. Bidding Wars The lack of inventory has created a competitive bidding environment. Most well priced homes and investment properties are seeing multiple offers, sometimes before the property is available to the general market. Most competitive markets, where demand outstrips supply, will see this. (Low interest rates coupled with values have allowed historic affordability, unlike anything we have seen in the last 6+ years.)

How Online Home-Price Estimators DISTORT THE MARKET

Professor Robert H. Smith, School of Business, University of Maryland sees consumer protection issues with online home-price estimators. Homebuyers use of awed automated valuation models creates an articial drag on values during recoveries, amplies appreciation during booms and results in a wide bid-ask spread that delays or torpedoes sales. If this interests you as much as it does me, please get the full picture at http://www.americanbanker.com/

Balcones Village & Spicewood @ Balcones as of October 1, 2013

2007 Y.T.D. 58 sold $78 to $156 P.S.F. 2008 Y.T.D. 40 sold $90 to $165 P.S.F. 2009 Y.T.D. 47 sold $93 to $156 P.S.F. 2010 Y.T.D. 48 sold $77 to $155 P.S.F. 2011 Y.T.D. 56 sold $84 to $155 P.S.F. 2012 Y.T.D. 56 sold $100 to $203 P.S.F. 2013 Y.T.D. 50 sold $103 to $197 P.S.F.

= averaging $126 (25 over average) = averaging $131 (23 over average) = averaging $129 (23 over average) = averaging $123 (26 over average) = averaging $124 (24 over average) = averaging $138 (30 over average) = averaging $163 (9 over average)

Please be aware that our custom built neighborhoods do not have a true average price per sq. ft. Properties range from 1900 to over 4000 sq. ft. The larger the home, the smaller the square footage value. A few homes have been well maintained, but will sell on average $20-$25 less per square foot than a Remodeled or Extensively Updated home.

ActiveListing(6) Address 9415CedarCrestDR 9130BalconesClubDR 9819MandevilleCIR 11500PencewoodDR 11005SpicewoodPKWY 11202SpicewoodPKWY PendingSales(7) Address 9410CedarCrestDR 11107OrsiniPL 9001FairwayHillDR 11101SpicewoodPKWY 11403PickfairDR 11401PencewoodDR 8908BalconesClubDR

View

Bd/FB/HB/Liv 3/2/0/3 4/2/1/2 4/3/0/2 4/3/1/2 6/5/0/2 4/3/1/3 Bd/FB/HB/Liv 4/3/0/2 4/4/2/2 3/2/1/1 4/2/0/2 3/2/0/2 5/2/1/2 3/2/1/3

St 1 1 2 2 2 2 St 1 2 1 1 1 2 2

Gar 0 2 2 2 2 3 Gar 2 3 2 2 2 2 2

YrBlt 1975 1972 1976 1984 1975 2009 YrBlt 1976 1976 1979 1977 1981 1983 1973

SqFt 2968 2588 2983 3292 4333 3254 SqFt 2984 4607 2166 2146 2524 3267 3217

ListPrice 379,000 379,990 425,000 466,000 499,900 579,500 ListPrice 504,000 625,000 299,900 325,000 375,000 419,900 675,000

View

G G/P

Statistics to Ponder
Home price appreciation is caused when you have too many buyers and not enough sellers. The most common measure of this situation is called Months of Inventory (MOI) A balanced market 6.5 MOI Overall Texas market 4 MOI Overall AUSTIN market 3 MOI Overall BV/S market 1 MOI 6 Active Listings divided by 63 homes sold in the last 12 months X 12 = 1.14 Months of Inventory for our area. Hot Market!! Remodeled/Renovated/Updated: Three of the six active listings have been updated. Three of the seven under contract have been updated. Three of the seventeen SOLD have NOT BEEN UPDATED. Sale Price vs. List Price: Eight sold for LESS THAN LIST PRICE. Four sold AT LIST PRICE and Five sold for OVER LIST PRICE. (The 8 selling for less paints a picture of sellers Original List Price being inated. Five of the 8 reect a Price Reduction to sell Interesting???) Days on the Market: Eight (8) of the sold properties were under contract in LESS THAN TEN (10) DAYS. / Five (5) of the sold properties were under contract in THREE (3) DAYS OR LESS / and only Two (2) of the 17 sold properties took CLOSE TO TWO MONTHS to go under contract. (If there is such a thing as average under contract within 30 days if priced right.)

Sold & Closed (18) The Sold Priced cannot be put in this publication (only the List Price is shown); however, feel free to call should you want a Market Analysis and/or help in your Tax Appraisal.

Address 10702SpicewoodPKWY 8702CrestRidgeCIR 10508GlassMountainTRL 10609SpicewoodPKWY 9425SpringHollowDR 11109OrsiniPL 9010BalconesClubDR 9410SpringHollowDR 8901BalconesClubDR 9629VISTAVW 10704SpicewoodClubDR 9615VistaViewDR 11301SpicewoodPKWY 9501BartHollowDR 11304SpicewoodPKWY 11543SpicewoodPKWY 10506PlumewoodDR

View P G P P G/P G G P P

G G

Bd/FB/HB/Liv 3/2/1/1 3/2/0/1 4/2/1/2 5/3/1/4 4/3/0/2 3/3/1/2 3/2/0/2 5/3/0/1 4/3/0/2 4/3/0/3 4/2/1/1 4/3/0/3 3/2/1/3 4/2/0/2 4/2/0/3 3/2/1/2 5/3/0/2

St 2 1 2 2 1 2 2 2 1 1 1 2 1 1 1 1 1

Gar 2 2 2 2 2 2 2 2 2 2 2 0 2 2 2 2 2

YrBlt 1977 1972 1980 1978 1972 1976 1976 1974 1977 1981 1978 1976 1976 1972 1976 1976 1977

SqFt 2319 2000 2490 3640 2932 3564 2313 2773 2345 3510 2333 2969 2718 2133 2765 2176 2561

ListPrice 385,000 415,000 369,000 450,000 535,000 649,000 379,900 515,000 367,000 499,900 460,000 455,000 309,000 379,000 524,900 319,900 499,000

SoldDate 7/8/2013 7/10/2013 7/15/2013 7/19/2013 7/24/2013 7/29/2013 8/5/2013 8/8/2013 8/14/2013 8/21/2013 8/23/2013 8/26/2013 8/28/2013 9/13/2013 9/18/2013 9/19/2013 9/19/2013

Disclaimer: The Properties on the list herein have been listed/sold by participants in the MLS network.

SELLING PITFALLS
If you want to net the most from your real estate sale, avoid these common seller pitfalls: 1. Basing the list price for your home on the list price of other properties. 2. Basing the list price on what you paid for the property 3. Over estimating the value of your improvements or upgrades 4. Testing the market Call on a Real Estate Professional (namely me) to assist you through these pitfalls. A market analysis is a good guideline of what your property value might be in an appraisal for the buyers loan.

AUSTIN NOW THE 11TH LARGEST CITY IN U.S.

A report recently released by the U.S. Census Bureau named Austin the 11th largest city in the country, jumping two spots from recent years. The newcomers helped increase the population to close to 900,000. Those moving to Austin are young, recent college graduates and retiring baby boomers. The gravitational pull that we exert for the young, talented and well educatedthat really is our sweet spot. The Austin areas steady population growth has put a strain on its housing supply and limited the ability of many to purchase a home. Growing demand means higher prices for the area and citizens with higher incomes are purchasing homes ordinarily available to citizens with more modest incomes.

We have had ve very successful tours in the past and have had plans for another in the Spring of 2014; However, there has been a lack of interest this year. Even though my committees are willing to give it a go, there should be more properties committed by the end of the year to move forward. Please let me hear from you if you, a neighbor or a friend will have their remodel or update complete next year. It is a lot of work, but also a lot of fun for all.

Tour of Remodeled Homes

Eenie Sullivan 9104 Clearock Austin, TX 78750 UNITED, REALTORS

EenieSullivan.com Bus. (512) 258.6677 Bus. 258.6677 Home: (512) 258.5723 Home: 258.5723 eeniesullivan@sbcglobal.net esullivan@cbunited.com
We are proud of Eenies consistent top notch marketing in the Balcones/Spicewood Area.

PRESORT STD U.S. Postage PAID Permit No. 2656 Austin, Texas

Eenie, Meenie, Miney, Mo! Catch a REALTOR on the go! If you need her let her know! Eenie, Meenie, Miney, Mo!
(2000 Coldwell Banker Real Estate Corporation. Coldwell Banker) is a registered trademark of Coldwell Banker Corporation. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated.

DISCLAIMER: Although the information has been obtained from sources deemed reliable, Broker makes no warranty or representations, expressed or implied as to the accuracy of the information contained, herein, and is submitted subject to errors, omissions, price change, conditions, prior sale or withdrawal without notice.

As you may know, my business relies heavily on persongal referrals. If you happen to hear of someone looking to buy or sell a home ANYWHERE, please have them call me. I will handle your referrals with utmost deligence and gratitude.

SKILLET CABBAGE
My dear Mother Maybelle served this often in my growing up days in Petersburg, Virginia. I found the recipe card she had given to me when I moved to Texas. It was a treat this week when served with Tilapia. Four Cups of Shredded Cabbage One Green or Red pepper (chopped) One Large Onion (chopped) One Cup Diced Celery Two Large Tomatoes (1 small can) Salt and Pepper to Taste Mix all ingredients in skillet with Cup of bacon drippings. (Now days you might try olive oil or the like). Cook 30 minutes or until veggies are tender. (modied tomatoes with sliced grape tomatoes and a little Pace Salsa a bit spicy) Try it. Like it? Let me know.

Principles of Life Myself

I have to live with myself, and so I want to be t for myself to know, I want to be able as the days go by, Always to look myself straight in the eye I dont want to stand, with the setting sun And hate myself for the things Ive done. I dont want to keep on a closet shelf, A lot of secrets about myself, And fool myself, as I come and go, Into thinking that nobody else will know The kind of man I really am; I dont want to dress myself in sham. I want to go out with my head erect, I want to deserve all mens respect; And here in the struggle for fame and pelf I want to be able to like myself, I dont want to look at myself and know That Im all bluster and bluff and show. Cause, I never can hide myself from me; I see what others may never see; I know what others may never know; I never can fool myself, and so, Whatever happens, I want to be Self-respecting and conscience free.