Texas Hill Country Blog

Real Estate Sales Are Up!
March 10, 2010

 GET READY, SET, GO…… Sellers are you ready for the Spring Selling Season? 

Winter isn’t over and spring won’t start for another 10-days, but the spring real estate season has started.   Pending real estate sales in Gillespie County are up 35% year-to-date over 2009.  Closed sales are up an astounding 58% over the same time period.            

Despite the economic doom and gloom on the news  media and the mixed commentary in the stock market, Texas Hill Country real estate is doing just fine.  Those who own  property here are possibly in one of the most stable markets in the country.  Hill Country buyers bring cash in their purchases and also those buyers that don’t typically bring a strong down payment.  This means that a majority of sellers are not in distress or need to sell.  This helps prices to remain stable and the market to remain strong overall.Traditionally the Hill Country spring selling season starts in early March and this year is following that pattern.  With spring temperatures in the air, buyers are calling, walking in and e-mailing to get information on what is for sale.  

Today’s buyers are knowledgeable in their buying habits, more than ever before.  They know there is excess inventory, but they also know that with the depressed economy and low interest rates, today is an opportune time to buy.Savvy sellers have their home in sparkling condition inside and out.  You may have only one chance to grab that buyer.  If your ‘curb appeal’ isn’t there or the home is untidy & cluttered, you lose.  Buyers are buying the best properties with the best prices:  read value.The same is occurring on building sites, raw land and ranches.  The buyers are here, and they are looking for the best property and the best price.  While offers are coming in low, the buyers are looking for negotiation.  The sellers who have prepared themselves and their properties are making good deals.  We can give you the facts to get you geared up and ready to sell.   Sale! Sherman D. Durst

Be a Fan of Fredericksburg Realty on Face Book
March 8, 2010

http://www.facebook.com/pages/Fredericksburg-Realty/288750519476

WHAT MAKES A PROPERTY SELL?
February 24, 2010

          In the world of real estate today, there is the old tried & true ways to market and advertise, just as there are many new ways to market and advertise.  The old way may include putting up the sign, listing an ad in the newspaper and waiting by the phone.  New ways include the Multiple Listing Services (MLS), computers, websites and smart phones.

             In the Texas Hill Country, the majority of real estate companies still operate in a traditional manner of bricks and mortar offices.  The ‘big’ city companies have space for agents to check in, but most agents are mobile working out of their vehicle and home.  Both systems work and both systems have merit.

             Whether you follow the new method or the old, getting a property SOLD has NEVER changed in this business.  There are 5 main factors that control the sale of every property:

#1 PRICE, if a property is priced too high  it won’t sell, plain and simple.  Buyers shop comparatively, while looking at several properties, and they  determine market values through this process.  #2 LOCATION; location can determine price, but it can also determine the school someone will attend, whether medical services are adequate, the style and quality of the home or neighborhood.  A seller can never control the location.  #3 CONDITION; which also relates to price.  The seller is totally in control of the condition of their property.  You can spruce it up, paint it, clean it up, or do whatever it takes to make the property sell.  #4 TERMS & FINANCING; with the low interest rates buyers have benefited from these past few years, financing has not been an issue in selling.  Terms can include how quickly you can move after contract or what adjustments you make to the price if the condition doesn’t meet the buyers expectations.  #5 THE REALTOR you hire is key; are they full-time? Do they know the market? Do they know technology? Do they know how to negotiate? Do they know marketing?            

        These reasons are why people buy and why some people sell, and why others remain for sale.   Sherman. D. Durst

Real Estate is Still Alive in Fredericksburg, Texas Gillespie County
February 23, 2010

 Gillespie County stats for the Week of February 10, 2010: 3-closings, 13 price changes and 4 properties went under contract.  Thus far in 2010, the local MLS shows Gillespie County with 13 closings and 43 pending contract.  

Expecting a great spring filled with wildflowers due to the much needed rains of late. Take a country drive to Fredericksburg one weekend.  Stop by and we can visit about the local real estate market.  The Fredericksburg Brewing Company is only a few steps down the sidewalk.  Sherman D. Durst

BUYERS: DON’T MISS THE BOAT
February 22, 2010

 There are a lot of different thought processes in the current real estate market.  Some Buyers think they should wait for interest rates to go lower.  WARNING:  the current interest rates are the lowest rates in over 40-years.  They are not going to go lower.  All industry information we are receiving from lenders and bankers indicates that interest rates will go up from the current 5% to 7% by the end of this year.  When buyers are pre-qualified, the lender will typically say, ‘you are qualified to borrow up to $200,000’.  The lender is really stating this, ‘with your income, debt and credit score, you are qualified to pay us back, $1,073.64 in principal and interest every month for 30-years’.  It just so happens that with your down payment, you can borrow up to $200,000.If interest rates go up to 7% and your income, debt and credit score are still the same, the lender will then say, ‘you are now qualified to borrow $163,000’.  The principal and interest payment for a $163,000 loan is $1,084.44.  If your income hasn’t risen, your debt and your credit score hasn’t changed, you are still able to pay back nearly the same amount.  Unfortunately with the  higher rate, your borrowing power has lessened.This type of qualification happens to every buyer who waits to purchase after rates have gone up.  If you qualify for a $120,000 loan today and nothing in your life changes other than interest rates go up, you will only be able to borrow $100,000 at the end of this year.  Say you qualify now for a $300,000 loan, after the rates have risen to 7%; the amount you can borrow is reduced to $247,000.DANGER: If you wait to buy until the rates have changed, you will be buying less home (meaning a smaller sized or less expensive home) or you will need to come up with more money for the down payment, to buy the home you want.  In real estate, timing is always the key.  Buy when prices are down, which is now and buy when interest rates are down, which is now.  Don’t miss the boat by waiting for a better deal, when school gets out, when the weather warms up, or some other time, the best time to buy is now.   Sherman D. Durst 

It’s All About the Future, Now!
February 20, 2010

 As Americans in the past 15 years,  we experienced  the longest time period of wealth and equity appreciation in the history of our country.  The individual asset growth was shared by even those who didn’t participate as the value of most everything went up.  With the financial collapses of the stock market and financial institutions in 2008 and new leadership in Washington, we are now in the midst of changes to our wealth and equity appreciation. During the past 8 years residential homes became speculative in nature, as well as major components on your own personal balance sheet.  This is now over.  Homes will now become a place of shelter, a place to live and raise a family, not a pawn in the game of increasing the value of  your personal assets.Technology is changing consumer behavior continually.  Smart phones are the new computer now.  Social media is now the contact point and the place where knowledge, connection, and appointments are made.  Do you Twit? Are you a Friend or a Fan?  It is reported that school age children, with the exception of when they are in a classroom, are spending virtually every waking hour on some type of technological device.  Parents and grandparents are not totally immune to this.  How many of you are now watching live video feeds of your children or grand-children in a day-care on your computer all-day every day?

Real estate agents and offices have an important place in this technological world, but the way we work and the way we market your home or property is changing now.   With unit sales in Gillespie County in 2009 down 21% below 2008 and dollars sales down 33%, today’s real estate agent has to be more knowledgeable than ever before of the day to day changes that affect your sale or your purchase.

 The changes are occurring now as you can see at www.FredericksburgRealty.com and we will be changing  tomorrow as well.   Sherman D. Durst  A New Year  A New Outlook

The

Real Estate in the Hill Country…the New & the Old Fashioned Way

 Real estate companies spend a lot of time working on their ads to find the right buzz words: Won’t Last Long; New on the Market;  Classic Style… We have seen a lot of changes through the years in trends and in what Buyers & Sellers expect from their real estate company.

 The Internet has changed the world in countless ways.  Over 80% of all buyers begin their real estate search on the World Wide Web according to the National Association of REALTORS.  Real estate listings can be found everywhere on the web to the point of being overwhelming.  While this type of promotion conveys more information than ever before, the reality is this, a real estate ad or a computer will never sell  a property.  

We have all the tools to find a buyer a property anywhere in the world and at the same time promote a property for sale anywhere in the world.   In the end, business is still done the old fashioned way, with a real estate agent showing a buyer a property and then  working towards a successful closing.  Sherman D. Durst

Fredericksburg Realty Has Been Selling the Texas Hill Country Since 1965
February 19, 2010

 We’ve seen folk, rock ‘n roll, outlaw, disco, rap, Muhammad Ali, the Beatles, KISS, George Strait, hot pants, pet rocks, a man on the moon, long gas lines at the pump, recession, inflation, republicans, democrats, droughts and floods, climate change, Vietnam, building booms, building busts, 21% interest rates and 4% interest rates, Y2K, thermal copy machines, fax machines, computers, laptops, I-Phones and much more. With our 45-years of experience in Hill Country real estate we’ve seen $500 an acre ranches to $10,000 an acre ranches; $600 city lots to $250,000 city lots; $12,000 homes to $5,000,000 homes and Dooley’s to Wal-Mart.    

When you need to know about local real estate call the people with the expertise and experience.  We haven’t seen it all because we are still learning every day, but every day for 45-years we’ve been here helping buyers and sellers thru it all. 

It’s a new year and we have a new outlook! Come in for a cup of coffee if you want to talk about the market in Fredericksburg, Texas or The Texas Hill Country.  Hope to see you soon, Sherman D. Durst

Begin Spring Cleaning Now

The first day of spring is six weeks away whether the groundhog sees his shadow or not. If you are thinking about putting your home on the market or have been on the market, you have 30-days to get ready for the Real Estate Spring Selling Season.
Begin your spring cleaning outside before moving indoors. Stand back or stand across the street and give your home a critical eye. First impressions occur in home selling just like they do in meeting people. The first outward appearance can make or lose a sale.
Since you are working outside, work from top to bottom, first checking the roof for any needed repairs, get leaves out of valleys and gutters. Check the outside walls for grime and consider power washing the walls and paint where needed.
Clean windows inside and out and make them shine. If you have double panes that have broken seams that are fogged, replace them now. Get leaves out of the yard, trim limbs where needed and top off any hedges. To complete the yard, pull weeds, power wash sidewalks, porches, or decks, and mow if necessary. Check the fence for boards that need replacing, repairing or painting. A white board fence can easily be washed to make it appear almost new. Last of all, don’t forget your garage. Clean, organize, or donate excess to give the appearance of a lot of space. Many garages are used as storage areas instead of parking for vehicles. Hang shelves if necessary, bring in a small storage building, or rent a storage unit in your neighborhood to empty the garage of clutter.
The first showing may be your only chance to make a good first impression. Hope this helps! Sherman D. Durst

Buyer’s Agents - and why EVERYONE needs one!
April 1, 2009

I began earnestly searching for a home for my daughter and me in December.    You would think being a real-estate agent would have given me the upper-hand.   But it seems that I was only drawn to the “troubled” properties.   With each home I was interested in, something invariably came up.   I tried buying a “short sale”, but decided the process was too long and arduous.    I considered a couple of other properties, but was concerned about the cost of converting them into the home I envisioned.    More important than the home itself was location.   Don’t get me wrong.   There are no bad areas in Fredericksburg.   Every neighborhood has it’s own charm.   But I knew exactly what I wanted, a quiet, kid-friendly, single-mom friendly place.

And guess what?    Out of all of the available properties for sale, there wasn’t a single one that I felt in my gut was the right one.    I thought perhaps I was making excuses for not buying out of trepidation of being a single home-buyer for the first time.    But I had faith the right home would come along – and I would know it immediately.

One of the biggest mistakes I made was in representing myself.   Again, as a real-estate agent, you would think I would have the upper hand.   But emotions got in the way of common sense – and I wasn’t doing my daughter or myself justice doing this house-hunting on my own.

One of the agents I work with told me of a For Sale By Owner in his neighborhood – an area that was exactly what I had envisioned for my daughter and I.    I immediately called the owner and went and saw the house within the hour.   When I walked in the door, I knew “This is it.   This is our new home.”

Fortunately, I work with a great group of agents, and this same one volunteered to represent me and be my Buyer’s Representative.   We filled out the paperwork and made it a formal agreement.    Almost immediately after entering into this agreement, my Buyer’s Representative had an offer ready to present to the seller.  

Needless to say, it was not an easy process by any means.   I removed my real-estate agent cap entirely for this transaction and allowed my agent to take charge.  And it was one of the best decisions I ever made.    I wanted the house and knew I would do whatever it took – within reason – to get the house.   My agent knew this, but the seller didn’t.    Had I been representing myself, the seller would have known in a heartbeat how much I wanted his home, and I would have lost all negotiating power.

In the end, with much assistance and guidance from my agent, it all worked out.   My daughter and I are now happily ensconced into our long-term home, the seller walked away happy and the buyer (me) is elated.    (Any my agent now has a new neighbor!)

Kudos to my Buyer’s Representative.    He had a challenging deal:  representing an agent he works with in a For Sale By Owner transaction – without any compensation!  (The seller refused to pay any commission, and my agent refused payment from me.)    And he did an excellent, A+ job.

Thanks Charlie!

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