Congratulations to Austin home builder Debi Schoenfelt of Corias Homes, Inc. for winning the Austin Business Journal’s top Custom Builder honors yesterday at the ABJ residential real estate awards ceremony!
Corias Wins With the Austin Business Journal
March 5, 2009 By Leave a Comment
After using her degree in Microbiology as a Virologist for years, Debi Schoenfelt found her calling in Austin’s custom building industry when she and husband, Keith Schoenfelt, built their first home with their own sweat and blood with the deadline of the birth of their first child looming. Debi never returned to Virology, instead she embarked on her American dream with a passion for a quality product and happy client that would lead to a lifetime of referral business. When the petite mother of two is not playing with the big boys in Austin’s luxury custom home building market dressed in high heals with a Pomeranian under her arm, you can find her blissfully riding her road bike through the hill country. Debi maintains a quality over quantity business model both in regards to the product and customer relationships, and has even inspired her family to join her on her quest to build the best homes in Austin.Market Update: December 2008 Numbers
February 18, 2009 By Leave a Comment
January’s numbers will be out soon and I suspect we’ll see some exciting figures in late March when we see February’s numbers. We are seeing a higher number of pendings this month, which will be reflected soon as homes sold (assuming they closed).
For now, here is a market update to finish out 2008′s home sale totals. These charts should help illustrate that the times we are currently seeing are more like the tech crash followed by 9/11 in 2001. A mere 5 years later, we saw prices and movement like Austin has never seen before. So if things do begin to rebound this year, will 2015 be the next strong seller’s market cycle? No one is predicting past 2011 at this point, and only time will tell for sure. These numbers should not stop you from buying, they do represent a buyer’s market, which we rarely see in Austin. And I’m going to back the experts on this one, I don’t think this buyer’s market will hang around much longer.
Aug08 Market Update: Austin Home Sales Volume
August 28, 2008 By Leave a Comment
So our inventory is up, more homes are on the market, and it takes longer to sell your home in Austin than it did a few years ago. But Prices are not only holding steady, but are continuing to rise a strong and steady growth rate.
When you compare our home sales volume to the past two years, things look like they may be as bleak as we keep hearing about. But don’t forget, 2006 was the strongest year EVER in Austin real estate, so many will argue that we are leveling out after a mini-boom. This is why prices are staying strong, but the market is moving more slowly.
Compare 2008 to other years this decade. With Austin’s steady growth, we do expect each year to increase over the next. 2005 began our mini-boom that peaked in 2006 and trailed off in 2007. It is dissapointing to see 2008 dip below the number of homes sold at this time in 2004, and this is where the months of inventory ties into the overall picture of our current market. The number of homes sold is related to the amount of homes currently available, and is displayed by the Months of Inventory currently available. This shows the speed of the movement of homes in our market. Although the volume is holding, this low level demonstrates a buyer’s market.
So don’t avoid buying real estate in Austin just because of fears of the market. Our prices hold steady even in the worst of times. If you are buying now, you have the luxury of taking extra time selecting and negotiating the deal. If you are selling, be prepared to have your home on the market longer than expected. Selling your home is a lot of work in this market, which is why the role of the good Realtor® is becoming appreciated once more. It will help to have someone available to market your home full-time and meet for showings when you have other things to do because you are likely to be in for the long haul.
Aug08 Market Update: Months of Inventory
August 26, 2008 By Leave a Comment
Real Estate has been all the buzz still. Is is as bad as it seems? Is Austin immune? Is the market going to crash? Is inventory still on the rise? Are prices really falling? There are literally questions flying all around me lately. I’ll let the numbers speak for themselves.
Austin’s Real Estate Inventory Statistical Data Chart
Months of Inventory is said to show the general health of a market. A high figure means a buyer’s market (less healthy) and a low number means a seller’s market (generally considered a strong market). Compared to the previous 5 years, Austin’s residential home inventory started around average. It has climbed into 2003 & 2004 territory, proving that we are currently experiencing a buyer’s market where buyers can generally spend more time looking and offer lower. In Austin, we are still seeing strong prices. Experts agree that although we are in a buyer’s market with a cooling sales record, prices have not declined, only the amount of time that a home spends on the market has increased.
Check the blog all this week for more statistical insight into today’s real estate market in Austin.
Optimism in Commercial Real Estate
May 14, 2008 By Leave a Comment
Is Commercial Real Estate Investing in Austin Safe?
Headlines read “Commercial Real Estate Markets Hold Steady“, “Commercial Real Estate Loans to Weaken as Economy Slows“. But the first quarter of 2008 showed that 6 of the 7 sectors of Commercial Real Estate are holding strong. Returns on commercial investments are still stronger than many other options, even if they have slowed. The cost of financing remains a concern, but long-time investors are still optimistic. Their greatest fear is the unforeseen, but good investors don’t let that deter them. Risk is all part of the game.
