2014, John Mcclellan, 512836. 05 90 discussed on KLBJ Programming


Like the Internet, like the Internet thought Austin real estate daily dot com Because real shit happens on a daily basis. Thank you can find our podcast up there. You can also find it on Google or iTunes. Just tap it in any one of those and type in their real estate's own, Kevin bound our John McClellan. Our podcast will pop up and you could put it on your phone there. Listen to your why you're hanging out or working out that is on iTunes or Google podcast. Check it out. You could listen to mother older shows lots of them up there. We're trying to get some of the older ones up there from years ago, just seeking kind of have a I listened to one of the old ones that drag Kevin It was about eight years old, and it was interesting. You know, eight years ago we were talking about man. The market's on fire is really happening around town right now, and it was eight years ago. If you remember that was 1000 and 13. We're beginning of 2013 coming out of the mortgage meltdown. We came out the mortgage meltdown. We're moving forward. You know, people were buying investment properties. Even before that, you know, the people with the money had their wallets open when everybody else had there's closed. It was an interesting time in Texas real estate and actually went back and looked at the block that I wrote in 2014. That's up on our website and I talked about how the Austin market has a lot of great fundamentals. It's going to continue to grow over the next decade, just with population growth and job growth. And I looked at some of the comments Take one particular comment was very Hmm. They disagreed a lot with what I was saying. They say this is a peek again. It's about to bust again. What are you doing? You're idiot. And well, Guess what? Who's the idiot Now time? Don't you wish you to bottom property in Austin, Texas of that boy? I do. I've got a few cents in but I gotta tell you, you know, behind side being 50 50. There's Always room for improvement, Right? That's right. It's a zoo. This this thing's timing. The market thing is tough, All right, and we're gonna go into some specifics first. Now I'm gonna go to jail today through one hour. You have two timing down power by hours and our time, And that was the joke around the office today was really there was a Seller who was offering a property for A price at 10 30 in the morning. And that price went up 50,000 by about 2 30 in the afternoon. What part of town was that? It doesn't matter. But what party down closer in northwest Now? We talked about that property. Was it on the show last week or maybe? Well, you'd shared it with me. I shared it with you mid mid week. Yeah, This is down in the villages of Western notes. Yeah. Yeah, that's an important one. Let me just kind of describe this area for everybody. Villages of Western hoaxes off Davis. Lane on the west side of Mo Pack. It's right north of Circle C right past the chilies, which you always know what I that chicken chicken boom boom thing, right? The theory that when that chicken tikka boom boom sauce that Julie's shows up in your neighborhood, your real state's about to go while well, this is very, very, very close to that. So my my theory still stands s O. This Western oaks built But nineties probably Yes, This was 92, Emily and 92. So talking about it, and the house is on his big are single story 20 little under 2300 square feet. Um, and a couple shows in the past. We've been updating our listeners on the stats. What's happening? How there are many homes that are under contract at Maybe 20% over what the cops were. And those are about to get ready to start closing. And so this one this house listed at that quote, new camps, racism, constant closed, enlisted at the newer hype hype point where the previous cops were made to high fours. This one Uh, There were some things that were under contract in the sixes, so they began to close this one listed at 6 50. This was this is an important first test is the canary in the coal mine for some working theories that we do right in this studio and share with our listeners about whether we see this big leg up from those forced to six hundreds. Is that gonna reaches a little table where we have a little breather in this market, and that's what that was. Our favorite working theory is that it was our fantasy. That was our fantasy. You're right. The supply and demand ratio has not eased up. So we're still in that same effect in this particular house. Yes, and that Well, let me look. Let's save the second part of the story for the second segment, cause I just thought of something very important. Okay. If survives to say it was much more there is listed for. Yeah, we'll talk about it. Talk about it. We can't share actually specific numbers. I just realized but baby later we came, But it isn't. It's a surprising number. Let's say that, as as there is now becoming some data from around town that is showing that there's Possibly not going to be a pause that we may continue on the same trajectory. So it's basically a leapfrog. And when one lives leapfrog from 4 52 5 50 leapfrog from 5 52, 606 50, Maybe even another leap frog after that, in of our listeners out there If you're curious about your neighborhood, and you want us to kind of give you a quote of what's happening there. Give us called 51283605 90. That's 5128360595 90. We do have lines open. Don't forget you can call them that. Call and text to that number. Listen, if you want to know what's happening in your neck of the ways Heck, if you live in in Western hoax will be glad to share what your value of your house maybe right now are down in that more than you think it is. It may be in Cedar Park. Maybe in circles. See, maybe in dripping springs. Give us call 512836. 05 90 just little tease for later in the show, Kevin, I know we've got the stats. Another surprising number. I'm gonna be talking about interest rates, too, as we get into Are talking and as we get into the rest of this, you know this spring buying season, although it's winter still interest rates matter, especially when prices there are accelerating like they are right now we're gonna talk about what a half a point with a full point change in interest rate can remain to your buying power out there and why it's so important that we keep rates low. There's nothing really we can do about it right when I put quotations around that, But you know, the feds been buying mortgage backed securities and other securities to like Treasuries. Lot of demand for that, too. When you have a lot of demand, the price goes up with the yield goes down, which is going to keep our rates a little bit low, So it's gonna be interesting to see how this increase in Appreciation here in the Austin area is going to be affected by any increase in interest rates. And I'm hoping you know some of the predictions we're looking at is maybe this is Latest little poppet interest rates, maybe 387% to the rate up over the last couple of weeks. Maybe tiptoe taper by some pullback here over the next maybe week, So we're kind of telling our classes to hold on for just a few message. See what happens. So we also have a special guest today, too, and she's going to be sure there's one thing that we're gonna we're gonna save who it is till the first segment Big reveal a big reveal a big reveal. She's one of my favorite agents in town. Sorry, Kevin. On good friend and we're gonna we're gonna We're gonna pick her brain a little bit, too about what's happening in.

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