Turner Residential

The decision to buy a home triggers a deluge of questions:

What will it cost?  How will I know it’s the right one? What if I pay too much?…

Turner agents are here to help you find the answers.  A good agent will listen, become your #1 asset during negotiations and provide the insight and information necessary to buy a home with confidence.  Our website is a good place to start looking, but as they say, there’s nothing like the real thing.  The advice and expertise offered by a Turner agent is what sets us apart.  Size up our agents to see if we have what it takes to help you buy a home anywhere in Austin.

What will it cost?

Don’t be fooled by a $300,000 mortgage for $1200/month.  Not all mortgage calculators are created equal.  Our mortgage estimator provides a quick, Austin-specific PITI mortgage payment.  When you’re ready, contact us to find out what it takes to get pre-approved by a good lender.  Until then, use our mortgage calculator for Austin, Texas>>

How will I find it?

For starters, we’ve got the best home search software on the planet.  Our map-based Austin MLS search lets you zoom in on your neighborhood, find the homes you like, then save the search for updates via e-mail or RSS.  It even gives each home a WalkscoreGet started searching>>

What’s the price?

Instantly get the price on any home, wherever you are.  Our GPS phone app gives you every Austin MLS listing around you.  You’ll never get lost looking for an open house again.  Get the Austin MLS on your phone>>

What’s it worth?

Buying or selling, you need to be familiar with home prices in your neighborhood.  Our market snapshot report provides recent home prices around any listing, along with an interactive map of nearby amenities and schools.  Get home prices around any listing>>

Share

Austin MLS MILLENNIALS   NOW IS THE TIME TO BUY (ESPECIALLY IN AUSTIN, TX)  uncategorized learn austin real estate home buying austin tx builders austin real estate market

Millennials, persons born between 1980 and 2000, should be in the market for a home right now. At least that is the conclusion put forth by two recent studies analyzing home ownership.

Interest rates vs. affordability

The real estate site, Zillow, put together a study looking at the effects of interest rate increases on home affordability. By applying a 1% interest rate increase to the median home price in 35 metros around the country, and comparing that number to next year’s forecasted home values, Zillow calculated the difference in mortgage payments for a home bought in the current market vs. waiting to buy.

According to their calculations, waiting another year to purchase a home in the Austin area could cost you an additional $104/month. While interest rates currently hover around all time lows, many expect the Federal Reserve to raise interest rates sometime next year.

“As a rule of thumb”, says Erin Lantz, vice president of mortgages at Zillow, “a 1 percentage point increase in mortgage rates reduces affordability by 10 percent”.

Where have all the first-time homebuyers gone?

Meanwhile, the Harvard Joint Center for Housing Studies (JCHS) posed the question: why are first-time homebuyers staying out of the housing market even though home affordability is near an all-time high?

According to indexes that incorporate gross measures of median home prices, interest rates, and household incomes, affordability remains at unprecedented levels. However, compared to the 2001 American Housing Survey (1991-2001), the most recent survey (2009-2011) shows a 22% drop in first-time homebuyers – why is this?

In their study, the JCHS focused on the age group most likely to be first-time homebuyers (25-34), and determined how many earned enough income to afford the costs of owning in various metro areas. With mortgage payments – including a 5% downpayment (typical for first-time buyers) – property taxes and insurance, and non-housing debt payments making up no more than 43% of a household’s income, the JCHS found that in 42 of the 85 metros studied more than half of renters could afford the monthly costs of homeownership.

Unemployment, income stagnation, and student loan debt were all listed as reasons by the JCHS as to why many millennials are opting out of the housing market; however, as the economy improves, there should be more willingness and ability by these households to become first-time buyers.

Where is the best purchase market for aspiring millennial homebuyers?

According the to the National Association of Realtors: Austin, TX.

That’s right – low unemployment rate, rising housing stock, and affordability places our hometown at the top of the list of best home-buying markets for millennials in the United States. Even though home prices in Austin have shot up in the last few years, the city’s median home price of $252,520 is still much lower than most metros across the country.

I’m a millennial and I think I can afford to buy a home, does this mean I should?

Not necessarily. Just because you can afford a home, doesn’t mean it’s the best investment for you personally. There are several variables that factor into deciding whether or not purchasing a home serves in your best interests, such as how long you are planning to stay in the home, mortgage details, market trends, taxes and recurring costs associated with homeownership. Fortunately, there are some handy calculators available to the public to help you make this important financial decision.

The calculator says I’m a good candidate for homeownership, now what should I do?

Send us a message or give us a call! We can help guide you through the process of finding and purchasing your first home, or even look into custom building the home of your dreams.

Austin MLS New development in Zilker hits market! zilker selling in austin riverside homes home buying austin tx builders 78704 real estate

The first two townhomes at Copeland Court have just been listed. Built by Riverside Homes and located at 2010 Goodrich Avenue, in the Zilker neighborhood, Copeland Court is a community of 16 duplex style townhomes on just under 3 acres, with direct access to Zilker Elementary, a short walk to Lamar and about a mile from Zilker Park.  Pre construction pricing starts at $629,000, and each home features the latest finishes and green builder methods.  Visit www.copelandcourt.com for more details or contact Scott Turner or Jonathon Haack at 512-473-9930.

Debby’s got another Downtown condo for sale!  300 Bowie #805 Austin, TX 78701 MLS#6026416 is right across the street from Whole Foods at The Spring, and at $489,000, it is the last two bedroom under $500K! More >>

Debby’s done it again at 2708 Richcreek, Austin, TX 78757 MLS#5596587!  The sign barely hit the yard before it went under contract.  In today’s market, you’ve got to catch them if you can!  More >>

Delwood dynamo Debby Reynolds’ new listing at 1209 Ridgemont Dr.  Austin, TX 78723 MLS#4992060 went under contract over list price faster than you can say “Show me the money!” 

More >>

Debby Reynold’s new listing at the 360 fell prey to the HOT Austin market and went under contract faster than you can say “I’d like to buy a Downtown condo”. More >>

Page 1 of 1012345678910