Austin, Kevin, John Mcclellan discussed on KLBJ Programming
You know a lot of lot of different counties around here. It's single family homes. Only. So this isn't just author that big Big Three counties. This is all of them. Yes. So last week Last week we had 2400 and 18, actives, 5900 and 33 Pending today there are 2200 and 63 actives. Less and 6000 and 83 pending more more. Yes, it's 830.37 is that ratio that ratio is our speedometer. The driver stays deck and not structurally happen again. Slap me across the head. Yes. Oh, this is a good way entrance late this to say, what appreciation radar we theoretically experiencing right now. Um It's a higher appreciation right than we had last week than when we had last month, and those type of numbers you have been yielding when we do get to look back in history of comparing the last year Appreciation rates that are in the Let's say 13 to 15% year over year so or something north of that right now, and I had this really real blast 50 years, the average in Austin's a little little under 6% 5.9 now So, Yeah. So we won't find out like you said. We do need that retrospective. But we're something north of that now, um, that's that's tough of here. If you're shopping out there If prices are going up, you know they're going up 1.5% every month. Yeah, but they're closed today. I guess my point was, if you're look if you're competent in the house right now, and you're closed that one that became close to them. It was today that you can actually use that's the price this hit. That's from 45 days ago. So if we're going up 15% per year How do you accurately judge in this neighborhood for this house? Right? How is it? You know, 3% more I need to ask for is a 5% or what is it? It seems to me that these Uh, these rates of appreciation of accelerating too. They are And we're not even in the mind sees Right? Yeah, we're all looking to see. I think what happens on this radio show when When this is happening with the market, I just looked at you. I say, Kevin, fix this. Fix this. I'll let you think interest rates. You think there's not a big enough magic want And so either prices get so high that there's normal balancing and people say, Well, I'm not going to spend 1000 a month to live. In this house, and I'll go do something else. And then the question is really flushing out with to do something else. Looks like Are there good? Yeah, they're still pretty decent leasing supply. But this is bleeding and beginning to bleed into the least That was gonna be my follow up. Question is what is this doing to the rental market started the whole It's into the new construction market, and that Used to be an option. People say Okay, forget it. I'll just go out and buy new construction on that, on the edge of town that's going away were for people that are important that strategy. They now to go to bastard up or Maynor or Taylor like that. It's starting to become a decent drive to get back to where there's job of right. Yeah, and in the rental market had been flat. But that has taken a turn. Also in this last month, we're starting to see Ronald rates increase. So you know. Yeah. What's your alternative? That's why saying like you're traveling Europe for six months, almost absolutely. Get off of the game board. Yeah. Um, well, I think that you talked about the magic number that people may have out there when it comes to selling their property that they may have owned for last 20 years being north West Hills. You know, South Austin circles. See, you know, Travis Heights, whatever it may be. That some point there is going to be a number for somebody that goes. You know what? I'm going to sell this for enough that I can go buy me a little ranch out Goldthwait or something like that right? And I'll be happy as happy as a lark out there, and I'll just wait for the market have a little correction or whatever it may be, if it does in the future, which it will, Of course, it always does. And what's my meds? So that's what maybe we need to think I'm gonna change challenge over listeners. What is your man? Yeah, you should because I just posed went out to you on your property. And you said no, no, no, I wouldn't do it for that. That's a bit. It's a good number. It's a good number. And so she asked me in about six months. Get 65. Why? Let's see. Maybe we're getting closer to my magic number That's out there. But I think the problem is that what you're going to see is that if that does happen, then people are gonna have to go further and further and further out because people do like to be a part of the central Texas culture in Austin and what's happening here and it seems we're out of this pandemic. You know, we'll have the show's back. We'll have hopefully some great live music against great food and you know, festivals and things like that F one. On day. Hopefully, those would be back and you know, people want to be closer to town for those right, and you know if if everybody's magic number is hit, and let's say that 25,000 houses hit the market does that Magic numbers hit? There's 25,000. People need to relocate somewhere else, right? And that's gonna flood other markets with around Austin or outside of Austin. Whatever it may be. Guys, We'll take a break when we come back. We're taking some phone calls. 51283605 95 1283605 90. If you have a crazy story about the market, give us a call. Like what you're hearing. Would you like to have John McClellan or Kevin work with you personally called 5125898088 make the best investment for your future Take advantage of the best mortgage rates now called 5125898088 or go to John McClellan Duck..