in this issue…
Putting a Face on Real Estate since 1995™
• ABoR TREPAC Chili Cook-Off • Stanberry Awards Breakfast • Milestone Community Builders The Ranch at Brushy Creek Groundbreaking • and much, much more!
Associates in Progress
5 Reasons to Sell KB Home
page 25
page 5 TM
MARCH 2012 • VOLUME 16 • ISSUE 11
Be prepared when competing with a foreclosure close to your listing First, get a clear picture of your reality
by Stacy Hale
W
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hile foreclosures—about one in every 1,098 home sales in Texas— have been known to cast a pall over the market values of a neighborhood, that isn’t always the case. The presence of a few distressed homes in your sellers’ vicinity need not launch a Wal-Mart style price war. When your seller asks you, “How can I even hope to compete with prices that low?”, the answers might be simpler than you think.
If there are just one or two foreclosures within a half-mile of your listing, there’s no cause for panic. How saturated is the neighborhood with distressed properties? Remember, it isn’t just current foreclosure listings you have to think about. It’s the entire “shadow inventory”—the number of properties owned by banks, those that have foreclosed but are not yet on the market, and properties likely to foreclose soon. The
bank is selling some of these, but others are foreclosures that have been purchased at auction by investors who have updated them and are hoping to make a profit. So how do you determine if the shadow inventory will seriously impact your sale? The answer is that a lot depends on the neighborhood. When doing your market analysis, think about what you consider to be
Front Page: Continued on page 14
Builders can prepare for non-inspection days on City of Austin's 2012 calendar
R
ecently, the City of Austin released a training schedule that impacts residential building inspectors. The
schedule shows various days throughout 2012 where building inspections from various departments will not be performed. Builders are encouraged to mark their calendars and schedules so building projects are not delayed.
Wednesday, May 2, 2012 all inspectors will be in training Monday, Aug. 20, 2012 all inspectors and some plan reviewers will be in training September 2012 (date to be determined) all residential and commercial plumbers will be in training RL
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Putting a Face on Real Estate since 1995
Upcoming Events Wednesday, March 21 HBA Georgetown Chapter St. Patti's Day Golf Tournament Forest Creek Golf Club - 11:30 a.m.
Tuesday, March 27 CCIM 12th Annual Power Luncheon Four Seasons Hotel - 11:30 a.m. to 1 p.m.
Wednesday, April 18 CRS Luncheon Westwood Country Club - 11:30 a.m. to 1 p.m.
HBA Networking Social BMC Select Showroom - 5 to 7 p.m.
NAHREP Monthly Luncheon Cool River Café - 11:30 a.m. to 1 p.m.
ABoR PAC Spelling Bee Word Hunt The Park at the Domain - 4 to 7 p.m.
Thursday, April 12 WCR Business Resource Luncheon Cool River Café - 11:30 a.m. to 1 p.m.
Thursday, April 19 NARI General Membership Meeting Dave & Busters - 11:30 a.m. to 1 p.m.
Friday, March 23 AREP: Feng Shui for the Home ABoR Office - 2 to 3:30 p.m.
Saturday, April 14 HBA MAX Awards Gala The Oasis on Lake Travis - 6 to 10 p.m.
More at www.myRealtyLine.com
NAHREP Monthly Luncheon Cool River Café - 11:30 a.m. to 1 p.m.