Realtor News


After a slight slowdown during the winter holidays, the Austin real estate market is hopping once again, and buyers can expect to encounter multiple-offer situations in a market that currently favors sellers.

“We had a seasonal low during the Christmas break, but now it’s picked back up,” said Leonard Guerrero, an experienced Realtor and sales manager with the JB Goodwin, Realtors North/ Northwest Austin office. “We’re looking at multiple offers on properties. There’s a lot of activity in the market right now.”

Buyers shopping for a home in the $270,000 to $350,000 or $400,000 price range are most likely to face fierce competition from multiple offers, Guerrero said. These buyers can give themselves a slight edge by having all of their ducks in a row before beginning their home

“They should have their lender in place, their down payment ready and have all of the programs that they’re going to use in places, so that they’re ready to move forward,” he said. “They should be on the spot and ready to go.”

Buyers also should temper any expectations of finding a killer deal and be prepared to submit a strong offer — possibly above asking price — if they’re serious about a property.

“If the buyer’s looking for a really hot deal, those are few and far between,” Guerrero said. “I think if you offer considerably below asking price, your offer probably won’t be accepted. There are other buyers out there that are willing to step up to the plate.”

Because homes at higher price points tend to stay on the market a bit longer, buyers in those price points don’t have to move so quickly and have the luxury of weighing all of their options.

“The properties at higher price points stay on the market a bit longer, which gives buyers the opportunity to take full measure of the market.”

Despite the fact that the market currently favors sellers, sellers really can’t afford to become complacent. To make the most of current market conditions, Guerrero recommends that sellers consult with a knowledgeable Realtor and take their advice on home pricing and how to best prepare their homes for showings.