Wrapping up 2018: Things You Need to Know Before 2019
Matt: Alright, we are live. Welcome to the show guys. My name is Matt Edwards and we’re Austin Real Estate Insider, where we tackle all the news that buyers and sellers in the Austin area encounter.
Today we have Sunny Tracy, John McCarthy and Ryan Rodenbeck, owner of Spyglass Realty and we're going to be wrapping up 2018 and talking about everything that you've missed from last year and what's coming up in 2019 and other holiday ideas in regards to real estate such as how to how to prepare your home to sell during the holidays, best neighborhoods in 78704 to see Christmas lights, the homeowner's exemption, and the seasonality of the market. Our first topic is selling during the holidays and Sunny, take us away.
Sunny: Selling year can be difficult. Just adds an extra level of stress in most people's lives. The best policy is, you know, obviously more is less. When we stage, we're obviously going to come in and try and declutter and depersonalize things. You really have to keep that in mind when it's the holidays. While most leaders in real estate, people and people in buyers shopping for her don't expect to come in and not see any decorations or anything going on for the holidays in a home, you don't want to be what Ryan calls Mr Christmas prefer you to be Mr Junior Christmas this year. So if you are a heavy, if you have your home on the market, you know, where that Christmas decorations kind of needs to be pared down to the basics in the minimum if possible. I think Kelly has some good and bad examples of Christmas decorations.
Ryan: If I may, we were looking for a to real estate photos exclusive to Christmas and we didn't find it a page dedicated to that in exact. We just horrible, horrible real estate photos. And Kelly's going to put that in the example here. I think what you're going to see is some very interesting stuff. This is what you don't want your realtor to do. There's one actually picture on this page with a bed with a cage around it. So, yeah, you do not, it's not a focal point of the house as it as the stagers would say.
Sunny: Keep it classy. Keep it minimal. We don't say that you don't know, you don't want to eliminate Christmas especially you have a family. Right But you know, think in the terms of how an interior decorator decorate Christmas here. Right? And when in doubt, talk to a professional stager we can help you with.
Matt: Okay, Sonny and on that note, make sure you like this video, subscribe on Youtube if you're watching there. And then if you want to be subscribed to future broadcast type “home” in the comments section and you'll automatically be subscribed. Yay. We did it. We always forget that. What You change the lineup at the last minute. All right, the next topic, best neighborhoods to view lights and Austin. Johnny, what do you got for us?
Johnny: Yeah, so there's lots of great places to view lights. I mean, if you're around Austin, downtown Austin, I'm pretty much from anywhere in your downtown. You can see Zilker Park and the lights that are already up there at the trail of lights that I know we went last year, I think you guys probably went last year too. That's just a really fun time. Is it fast as and be prepared to walk and get some exercise. The kids are going to be wiped out, wiped out to if you really explore the entire park.
Sunny: It's five miles on my apple watch last year
Matt: Wow. You go to Mozart's, which is about three miles away and they have a fantastic Christmas show and you grab a cup of coffee and a snack there.
John: Yeah, they have an entire show there that, that's going to be really cool.
Matt: Kelly's going to put a link in here so that if you want to, you know, access these lighter there, there'll be a link in the comment section.
John: Great. Great. There's also the historic car, Clarksville historic district Willis Littlefield oh, they do this display there as well. On West 37th street between Guadalupe Street and home lane, t's do it yourself light displays. So there's apparently there's gonna be a lot of really fantastic light this place up there too. So check out that link. Plan some evenings, go check it out with the family holiday lights. They're in so much joy to everyone this time of year.
Matt: Christmas lights, it'll link the description and it'll take you right there. And then we're onto our next topic, which is homeowner exemption.
Sunny: If you bought a house in 2018, you will be eligible for homeowners exemption starting in 2019. Most likely you carried over the exemption that from the seller last year, but this year you'll have to apply for it on your own. You bought a house with five last royalty. Don't worry, we've got you covered. We have all of our buyers tagged where we're going to everyone that bought a house in 2018 and email at the very beginning of 2019 with the leaks to all of the, um, county websites where you can file for your homeowner's exemption. You did it and that Kelly's didn't, couldn't leave here with a blog page that's got links to travis in Williamson County and where you can file those. So as long as you lived in, as he moved in and purchased your home before January, second of 2019, we will be filing a homeowner's exemption for 2019. I'm very important. It has to be filed by April 30. Don't forget to do it because it saves you a whole lot of money on your taxes.
Ryan: Yeah, I want to add something to that. So, you know, one thing when you're buying a home that has a homeowner's exemption and they, you have your assessed value. Okay. So if you buy a home from someone who is also a homeowner, a homeowner, they have a limit on the cap. The assessed value can go up. So it's really advantageous for you to buy a home that has been a homestead before I went there as a couple of years ago where we had a homeowner who had a second home, was not their exemption. The values in this neighborhood were like the real values, like 6:50 and a lot of the homeowners, well the whole, the whole neighborhood except for my client was a assessed it like in the 40 50 range because they were kept. Right. So that's one thing you want to look at when you're buying a home. I actually had an IRS agent come to the home and was interested in buying this home and he passed on for a couple of years. Tax value in that home was much higher than the neighboring homes, even though he was looking in that neighborhood.
Matt: He just gave the thumbs up. So we're off and running. All right. So that covers the homeowner's exemption and the dates and deadlines for that onto the seasonality of the market. So what's coming up in the Spring?
Sunny: So that was one of my favorites and I'm happy to talk about it because you know, your home has a range that goes up and down and I'm not talking about just the amount of pending sales but also the value. Right. And you start seeing an uptick. Just a little bit about tech in December and in the graph goes, you know, far up can. I was going to put a link in the blog to that and then what you see happening, you know, people ask when the best time to sell your home is you know, like if I were going to pick up time to some own personal home, it probably be the middle of March. Right That doesn't mean you can't sell your home, got the year, but if you're, you have a plan ahead and you're not pressed for time.
Ryan: Then march will be my favorite one. That's when you see the most amount of pending sales and the values peak at about June. And that's because those homes are sold and our contracted 30 to 45 days beforehand. The side of that, and especially in this market in Austin, is that there's, you know, I would say if you had an, a normal market and you could pick the best time to buy your home, I would say anywhere from June to October. But what we see in this market is inventory so low that sometimes people want to find the perfect home and they're going to hit it when there's the most amount of inventory. Well the most amount of inventory and the most amount of demand is in spring. So I think it's really important if you're preparing to sell your home in March, that you really start now.
Sunny: I mean we've got a fantastic home that we're getting ready and we started in December, we're going to renovations, but there's a lot of prep work, especially if you're upgrading your home, which we help people with, right So that is to say that you want to get prepared. And, and one other thing, and this is super important, if you have a home with a deficiency, what I mean by efficiency, if it backs to a busy road, if the backyard goes straight up into the driveway, to the car port or the garage go either straight down or straight up, there's a number of different deficiencies that home can have. If it's not renovated and you want to get the most amount of money for that home, you're going to sell at March because here's what we found is happen in 2018, 20, 19 versus you know, 2015 and 16 for instance, a home with a deficiency.
Ryan: We're still hot market, but we're slower than we were three or four years ago. Right. And a home with a deficiency that was sold in say October, November, December, back in Twenty 15 and 2016 was the only discounted a very small percentage compared to home without an efficiency. All right. And I'll give you an example of that. What I mean is if your home backs to a busy road and that same exact home is four houses down in Twenty 15 and 2016, the spread for what you would adjust that home down in 2015 and 2016, especially on your off times of the year was very little. Okay. Now it's a whole lot. Buyers are being a lot pickier, so if you really want to get the most for your home and you have a deficiency, you really need to plan on marketing and sell your home in the spring to. Yeah. So Matt, I think that's going to wrap for a day and I'll say, well you might have anything to add.
Matt: No, I think that covers the show today. We survived our last minute changes.
Sunny: Yeah, short and sweet may be on the lookout for some of our old photos
Matt: To be subscribed to get all of our future videos. And if you don't want to type home, just click the subscribe button. If you're on youtube and if you're watching on facebook, just like the like button. And don't forget about instagram @spyglassrealty check it out. Lots of fun post over there and that takes care of the social media
Ryan: No, y’all said it, have a great Christmas and New Year and we'll be back with more quality content. And in 2019