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Bill Morris
RE/MAX Capital City
13018 Research Blvd
Austin, TX 78750

Direct or Text: 512-785-3345
Email:              bmorris@remax.net

Texas Broker License # 505218

We take pride in our homes.  For most of us, our home is our largest physical and financial asset.  It's where we spend time with friends and family, where we may go for peace and quiet, and where we spend a lot of our hard-earned money.  It is much more than shelter, more than a residence.  It is "our place," with all the physical, mental, and emotional ties that implies.

Investment real estate shouldn't carry the emotional attachments of a home, but it can be a critical source of income and financial growth.  Financial assets -- stocks, bonds, etc. -- are an important foundation for many investors.  Real estate can provide more stability, current income, and predictable long-term growth.

I represent both buyers and sellers of residential and investment real estate throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs:

  • My relationship with a home seller begins with a thorough understanding of the client's objectives, needs, and timing. My ongoing analysis of properties and market areas throughout Central Texas provides the basis for a comprehensive analysis of each client's home.  Price consultation, property preparation and staging, and broad promotion of each property follow, and frequent communication -- showing feedback, market updates, and ongoing advice and counsel -- round out a successful listing engagement.  As a starting point, just ask me for a FREE Market Analysis. That may answer your immediate questions, or it could become the basis of a more comprehensive discussion.  That choice is yours.
  • My approach to buyer representation is also full service – shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction.  Looking for a new home?  Use Quick Search or Map Search to browse an up-to-date database of all available properties in the area, or use my Dream Home Finder form and I'll conduct a personalized search for you.

In both roles, honest advice and clear communication are what my clients expect.  The fact that more than 90% of my business is with repeat clients and their referred friends and family is a sign of success in meeting those expectations.  Client ratings that earned my selection for 6 consecutive years as a Five Star Professional -- representing less than 7% of Central Texas agents -- are also very gratifying, and humbling.

As you consider selling or buying Central Texas real estate, you'll find a lot of information on this website that can help.  Much of it is updated regularly, so come back often:

  • National and regional Market Trends is a thorough monthly e-newsletter you'll enjoy.
  • Average Mortgage Rates are up-to-date weekly.
  • As often as time allows, I update My Thoughts ...  on topics that I find important and interesting.
  • You'll also find regular market news on my Facebook and Twitter pages.

You'll find a details About Me and my approach to the practice of the real estate profession, and about why I am proud to be affiliated with RE/MAX and RE/MAX Capital City.

My business and personal experience tell me that service is the key to success and I look forward to serving you.

 

My Thoughts on Central Texas Real Estate

More on Austin-area Home Prices

Last week I wrote about how the distribution of homes sales in the Austin Metropolitan area have changed over the past several years (Home Prices in Austin).  I trust it surprised noone that prices throughout the region have increased.  Now, I want to break that down by city within the region, focusing just on reported sale prices in 2018.

The table below shows what percentage of sales in each city listed were in the price ranges shown last year.  For the purposes of this post, “home” includes houses, townhouses, and condominiums.  Just for clarity, “Austin Metro” covers the entire 5-county metropolitan area (Travis, Williamson, Hays, Bastrop, and Caldwell).  The “Urban Core” as shown here is the area bounded by Loop 360, Hwy 183, and Ben White Blvd.  With that, here’s the data:

Obviously, there is very little activity in our area below $150,000, and almost none above $1,000,000 except in the Urban Core, Lakeway, and Dripping Springs. I have highlighted the most prevalent price ranges in each city, and you can see generally increasing home values moving right across the table.  In 2018, 60% of homes sales across the metropolitan area were between $200,000 and $400,000, and about half of sales in Austin were in that range too.  But notice that in the Urban Core that drops to 34%, and the largest share of sales in that very large part of the city was between $500,000 and $750,000. 

I continue to believe we’ll see this distribution to creep toward the right in all of those cities this year, and I will update you as we go.

 

Home Prices in Austin

It’s no secret that home prices in the Austin metropolitan area have been increasing over the past several years.  Although the pace of price appreciation has slowed (Market moving toward “normal”?), it is still a very real part of our market environment and will likely continue for at least another year or two.  As part of my look back at our real estate market, it’s worth seeing how home price distribution has changed in the Austin metro area over the past eight years:

Notice that the $150,000 to $200,000 price range fell below 10% of our market for the first time in 2018, and that even the $200,000 to $250,000 range declined slightly last year.

But look at what has happened from $250,000 to $750,000. 52% of all home sales last year were above $300,000, and even the share of homes priced above $750,000 doubled since 2012, when we began our return from the last market bottom.

On paper, median income in the area has largely kept up with those changes, but well-paid, mostly tech employees are a different population than more traditional middle class workers. Affordable workforce housing is a growing challenge. I’ll have more to say about that as the year proceeds.

Texas Economy Cools Off … Slightly

I received an update from the Real Estate Center at Texas A&M University this morning and just want to pass it on. Here are some highlights:

  • “The U.S. and Texas economies will continue to expand in 2019 but at noticeably decelerated rates.”
  • Texas employment growth should continue at almost twice the pace of U.S employment — 2.7% vs. 1.5%.
  • “The Texas housing market slowed in 2018 as sales rose 1.7 percent compared with 4.1 the previous year.”
  • “Housing permits for new single-family residential units are expected to slow to a 2.1 percent increase ….” [But permits in the Austin area are forecast to increase by almost 10%!]

If you want more details, here is the complete update report:

2019 Texas Housing and Economic Outlook

I attended another meeting today about the economic outlook for the U.S. and Austin.  More on that soon.

 

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Testimonials

“Bill helped me through the worst buying transaction I’ve ever experienced. Dealing with the seller and his agent was a nightmare. There’s no way I would have gotten through it without Bill’s help.”
“We had a great time looking at properties with Bill. It took us a while, but with Bill’s help we succeeded in getting our dream home, and made a new friend in the process.”
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ABR - Accredited Buyer RepresentativeChildrenCRS - Certified Residential Specialiste-PROREALTOR® certificationNAR GreenCertified Distressed Property ExpertFive Star Professional

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