We are excited to share that we made the move to Realty Austin, the #1 independent real estate brokerage in Central Texas!

We are deeply committed to providing the highest quality service to our clients and Realty Austin shares our passion for excellence. They offer an exceptional marketing platform that will enable us to do an even better job of supporting our clients’ needs. As a technology leader, Realty Austin is a powerhouse in residential real estate. If you ever have any questions, or would just like to catch up about what the real estate market is doing, we are always available to help.

Here’s how Realty Austin elevates the experience and partners with us to position our clients for success in the years to come.

EASY-TO-USE TECHNOLOGY

RealtyAustin.com is the most widely used home search website in Austin. Our mobile-friendly, map-centric website is designed to help you and your co-buyer see the latest listings. You will be able to save properties, compare commute times, and set up email alerts based on your search criteria.

COMMUNITY OF EXPERTS

Voted #1 Best Place to Work, we’re constantly collaborating with 570+ of the top agents in the area. Let’s meet at one of our bright and inspiring offices so we can help you with all of your real estate needs!

WE’RE FOR HERE

Giving back is the cornerstone of our culture that stems directly from our mission to support those who need safe, affordable housing. Since 2010, Realty Austin agents have volunteered over 25,000 hours and donated over $1.9M of their commissions to support affordable housing pioneers.

WE’RE LOCAL, WE’RE GLOBAL

When life takes you in a new direction, we have connections with brokerages around the globe through Leading Real Estate Companies of the World®. Plus, we can market the world’s most remarkable homes on LuxuryPortfolio.com through Luxury Portfolio International®.

Start Your Search Today

Call, text, or email us to create a custom search using Compass proprietary tools that allow you to directly interact with us. Or use this button to open an easy individual  search on our greateraustinhomes4sale.com site.

Tesla’s Layoffs in Austin: A Minor Ripple in a Strong Economic Pond

Tesla's Layoffs in Austin: A Minor Ripple in a Strong Economic Pond

Once again… The sky is NOT FALLING. Let’s dive once again into economic news, moving beyond the clickbait and sensational headlines that often dominate media coverage.

Let’s be clear: our hearts go out to those who have recently lost their jobs in any of the reductions that have been announced this month. As always, our goal is to provide a balanced perspective that helps you understand the broader economic context, encouraging informed discussions rather than reactive conclusions.

Recently, news broke that Tesla is laying off approximately 2,600 employees in Austin. While such headlines might initially seem alarming, it’s essential to view them in the broader context of Austin’s robust economy.Despite Tesla’s downsizing, these layoffs represent just a small fraction of the overall workforce in the Austin metropolitan statistical area. With a labor force that numbers in the hundreds of thousands, the impact of these layoffs, though significant for those affected, is relatively minimal on the city’s economy as a whole.

Austin’s economy has shown remarkable resilience and dynamism. Even now, the unemployment rate in Austin remains impressively low, standing at 3.6% as of February 2024, unchanged from the same period last year. This stability in the unemployment rate, compared to the historical average of 4.25%, indicates the city’s strong ability to maintain job opportunities.

Moreover, the economic strength of Texas as a state adds another layer of resilience. With a robust economic performance, Texas features diverse industries from technology to energy, which contributes to its low unemployment rate of 3.9% as of early 2024. This state-level economic stability supports and sometimes buffers local economies like Austin’s against potential economic downturns.

Austin continues to attract investments and new business ventures, thanks to its vibrant culture, innovative spirit, and favorable business climate. This ongoing influx of opportunities not only helps mitigate the effects of job losses but also contributes to the overall economic stability and growth.While the layoffs at Tesla are undoubtedly challenging for those directly impacted, the broader perspective is that Austin’s economy, bolstered by the economic strength of Texas, remains strong and well-positioned for the future. This event, though noteworthy, is just a minor ripple in Austin’s thriving economic pond.

Please DM here or email Info@adamtimothy.com to start your home buying or selling journey. The Austin market can be tough to navigate.⁠

Don’t try to do it alone. Let’s Talk. 

Don’t freak out Austin (and don’t be idiots, media pundits!)​

Don't freak out Austin (and don't be idiots, media pundits!)

Well now, let’s have a real talk about this whole “Austin is slowing down” notion. As seasoned professionals with Adam Timothy Group, we’ve got a front-row seat to this real estate rodeo, and let us tell you, the show’s far from over. Now, we can’t help but chuckle when we hear folks saying the market’s cooling off because our home values aren’t soaring to the moon like they were during the pandemic. And sure, there’s a smidge less migration — maybe enough to notice you’re not bumping elbows with someone new every day.

But here’s the inside scoop: Austin’s still the place to be, and those ‘steady’ home values? They’re a sign of a market that’s matured, not stumbled. And if you’re thinking of making a move or snagging a piece of this fine city, Adam Timothy Group is the name you should remember. We’ve got the expertise, the style, and the savvy to guide you right. So, for those looking for a laugh and a lesson in why this city’s real estate is still a hot ticket, come on over to our side — we’ve got stories that’ll educate, entertain, and help you invest smartly. Austin’s just fine, y’all, and we’re here to help you make your mark.

Now here is the latest from TCAD, those mysterious analysts that determine home values that in turn drive taxes for homeowners like us and our clients.

The latest figures from the Travis County Appraisal District reveal a trend that’s sparking conversations among homeowners, buyers, and real estate analysts alike: Austin’s home values have declined for the second consecutive year. Despite this recent dip, the data shows that property values remain significantly higher than pre-pandemic levels.

The median market value of a residential homestead in Travis County as of 2024 stands at $551,419, a notable decrease from the previous year’s median of $592,819. This downward movement marks a continued shift from the peak of $632,208 in 2022. However, when we take a broader perspective, it’s clear that Austin’s real estate market has experienced substantial growth over the last decade. For instance, comparing the 2024 median market value to that of 2019 ($355,836) illustrates an increase of over 50%, highlighting a significant appreciation in property values over a five-year period.

A similar pattern is observed in the median taxable values, with the 2024 figure at $401,806, down from $378,765 in 2023. Taxable values are particularly relevant for homeowners as they directly influence property tax bills. It’s important to note that while these values are lower than market values, they too have shown a robust climb from the pre-pandemic era.

This data underscores a critical point: while the past couple of years have seen a cooling off from the frenzied growth, Austin’s real estate market still stands much stronger than it did before the pandemic shook the global economy. The reasons for the recent slowdown could be numerous, ranging from rising interest rates, changes in housing demands, economic uncertainties, or simply a market correction after years of unprecedented growth.

For those considering entering the market, these trends suggest a more favorable environment compared to the highly competitive and inflated market of the past few years. For sellers, the data might be a signal to adjust expectations and strategize accordingly to align with the current market conditions.

One thing is certain: the real estate market is ever-changing, and Austin’s recent figures are a testament to that. Whether you’re a buyer, seller, or simply an observer, it’s crucial to stay informed and understand the implications of these shifts. The Travis County Appraisal District’s data serves as a valuable resource in grasping the dynamics of Austin’s housing landscape.

Why you should work with us as your buyers agent

PARTNER WITH US AS YOUR BUYER AGENT​

The recent settlement with the National Association of Realtors has sparked much discussion about its implications for buyers and their agents. At Adam Timothy Group, we see this as a positive development for agents, buyers, and even sellers and their representatives. A significant challenge in 2021 was the influx of inexperienced individuals entering the real estate market, aiming for quick profits. Those with a long-standing presence in real estate, like us, understand the complexities of this investment sphere, applicable to both residential and investment properties.

We’ve observed numerous instances where buyers, lacking an impartial advisor, ended up with properties valued much lower than their purchase price. Many of these buyers were not fully informed about warranties and seller disclosures, leading to unexpected, costly repairs. Others settled for less-than-ideal homes, missing out on their dream properties that were off the public listings.

A reliable real estate partner offers more than contract assistance; they invest time to grasp your needs, desires, and lifestyle preferences, ensuring your home suits your life and work balance. Their goal transcends earning a commission, focusing instead on a fulfilling, long-lasting relationship that benefits from understanding your career path and long-term city residency plans.

At Adam Timothy Group, we dedicate ourselves to serving our clients’ diverse needs, whether buying, selling, leasing, or renting. Our approach is founded on a standard process, tailored to each client’s unique situation, devoid of bias towards new or resale properties. We prioritize your happiness in the deal-making process.

For buyers, our comprehensive 100-step process begins with our initial conversation and extends beyond the purchase, including annual property value reviews and connections with essential service providers. We view our client relationships as ongoing narratives, valuing the transition of many clients into friends.

When considering your real estate partnership, reflect on the long-term value of a relationship that not only aids in making a significant investment decision but also enhances the investment over your home’s lifecycle.

Reach out to begin your journey in the challenging Austin real estate market. Don’t navigate it alone—Let’s Talk. 

NAR Settlement and Its Implications: A Perspective ​

NAR Settlement and Its Implications: A Perspective

The National Association of Realtors (NAR) settled a series of lawsuits for $418 million, agreeing to significant changes in its practices. Key terms of the settlement include the abolition of the “Participation Rule,” which required sell-side agents to offer compensation to buyer brokers. This change is aimed at reshaping how transactions occur in the real estate market, potentially impacting agent commissions and the number of active real estate agents. The settlement, payable over four years into a court-controlled trust, also includes provisions that prohibit NAR from setting rules on how seller’s agents compensate buyer’s agents. Additionally, it requires the removal of broker compensation fields from Multiple Listing Services (MLS) and mandates written buyer broker agreements.

The settlement has ignited discussions across the real estate sector, focusing on commission structures and transparency. New stations everywhere are declaring this an “earthquake” in their continuous effort to generate clicks and views. Amidst the legal complexities, it’s crucial to understand the core aspects of the settlement and its broader implications. In short, this is not a big deal for smart consumers who work with qualified and educated real estate professionals.

Firstly, the notion that commission fees were inflexible and mandated by the NAR is a misconception. Commission rates have always been negotiable, reflecting the dynamics of the real estate market. This flexibility allows for adjustments based on the property, market conditions, and the value provided by the real estate agent.

The role of a competent real estate agent extends far beyond the mere transactional phase of buying or selling property. These professionals invest considerable time and effort in ensuring a smooth process, leveraging their expertise and market knowledge to serve the client’s best interests. Their contribution often continues post-transaction, offering ongoing support and advice, which underscores the commission as a worthwhile investment in professional service and peace of mind.

The lawsuit against NAR has primarily benefited the legal profession, with attorneys gaining the most from the proceedings. However, for buyers and sellers, the impact might be less dramatic. The real estate market is adaptive and driven by competitive forces. It is likely that the system will find a new balance, maintaining the essence of how commissions are determined. The interplay of supply and demand, along with competition among agents, will continue to influence commission rates, ensuring they are fair and reflective of the service value.

While the NAR settlement has brought attention to the commission structures in real estate transactions, the fundamental dynamics of the market will continue to govern the industry. Buyers and sellers, armed with negotiation power and market knowledge, will remain central in determining the terms of real estate engagements, including commission fees. The future of real estate transactions, therefore, is likely to evolve but remain grounded in the principles of market-driven pricing and value-based service.

Unlocking the Potential of Seller and Lender Funded Incentives for Home Buyers

Unlocking the Potential of Seller and Lender Funded Incentives for Home Buyers

Making Your Home Stand Out in the Market
In a competitive real estate market, distinguishing your property from others is crucial. As outlined by New American Funding, offering incentives can significantly enhance your home’s appeal, making it more attractive to potential buyers . These incentives can range from covering closing costs to providing upgrades or repairs, all aimed at making the buying process more appealing and less burdensome for the purchaser.

The Power of Mortgage-Lowering Incentives
The Ascent by Motley Fool highlights an increasingly popular strategy: mortgage-lowering incentives. These incentives involve the seller offering to buy down the interest rate on the buyer’s mortgage, resulting in lower monthly payments for the homebuyer. This not only makes the property more attractive compared to others but can also widen the pool of potential buyers who can afford the home .

Accelerating the Selling Process
CBC National Bank Mortgage emphasizes the effectiveness of buyer incentives in speeding up the home selling process. Offering incentives like paying for closing costs or including home warranties can make a property more enticing. This approach not only benefits the buyer but also helps the seller achieve a quicker sale, which can be particularly beneficial in scenarios where the seller is under time constraints due to personal or financial reasons .

A Win-Win Strategy
Seller and lender funded incentives serve as a powerful tool for both parties involved in the real estate transaction. For sellers, these incentives can accelerate the sale process and make their property stand out in a crowded market. For buyers, they offer financial relief and make homeownership more accessible. Whether it’s through reduced interest rates, assistance with closing costs, or home improvements, these incentives create a win-win situation, easing the stress of selling and making the purchase more attainable for buyers.

Should you get a buy-down?

Interest rate buydowns can serve as an effective strategy for homebuyers aiming to reduce their interest rates without substantially increasing their closing costs. Temporary buydowns suit buyers with excellent credit who plan to refinance down the line, whereas permanent buydowns offer the advantage of stable payments over the homeownership duration. However, it’s imperative to meticulously assess the costs and benefits of buydown options and seek guidance from a trusted lender and real estate partner to determine the most suitable approach for individual circumstances.

Don’t freak out Austin (and don’t be idiots, media pundits!)​

Austin’s still the place to be, and those ‘steady’ home values? They’re a sign of a market that’s matured, not stumbled. And if you’re thinking of making a move or snagging a piece of this fine city, Adam Timothy Group is the name you should remember. We’ve got the expertise, the style, and the savvy to guide you right.

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