FAQ's and Appraisal Facts
Here are some awnswers to questions often posed by sellers and buyers as well as some facts to help inform.
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Will I see a return on my investment when renovating or upgrading my home?
The quick answer is Yes-normally- though do not expect a dollar for dollar increase. Caution should be excercised in the type of upgrades and determine if theareawill carry the improvement.
What if I feel that the local Central Appraisal District appraised my home to low/high?
Depending on the area, appraisal districts have in the past undervalued property. This trend has changed in recent years with the economy as it is. Many times an independent appraisal can save a homeowner hundreds of dollars in property taxes.
After buying a home how much appreciation or equity can I expect and how fast?
This would be determined by the individual market area.
I have often heard of or have a friend that does house flipping and makes a lot of money at it. I have a lot of construction skills and am thinking of giving it a shot myself. Is this something I can do?
Experience in the construction field, although helpfull, is only a part of flipping homes. This type of investment can quickly, and often does, take more than expected with regards to over-all investment. There is just no way to plan for every contingincy and those withrepeatedexperience can often see the unforeseeable.Investment real-estate is a high stakes game, amateurs should navigate cautiously.
Austin Real Estate
All of the factors that have made Central Texas, particularly Austin, such a strong market and a growing economy the past 25 years are still present. Much of the Austin market has not felt as much of a decline as seen in much of the nation and is expected to continue to grow.
Central Texas Home Prices
Popular areas of Central Texas such as Austin and the surrounding suburbs appear to still be relatively affordable by all indications- Similar cities continue to suffer more in terms of home values and high home pricing leading us to believe we will see further influx of people looking for a fun, affordable place to live and work helping to keep our economy moving foward.
Foreclosures are moderate to low in the Austin area. In our experience only a select couple of markets/suburbs have been greatly effected by foreclosure in the Austin area. Often the overal success and reputation of the local school district may reflect buyer concerns/needs when buying a home or staying in a home or area for any length of time.