Sendero Springs 2011 4th Quarter Newsletter

SENDERO SPRINGS IN ROUND ROCK TEXAS –

Check out a recent article I wrote for the official Sendero Springs Newsletter – in honor of the upcoming elections, I’ll call it the State of Real Estate.  Enjoy!

How much is my home worth?  Is my home appreciating or depreciating in value?  What did the house down the street sell for?  Is our neighborhood a desirable place to live? As a real estate agent, these are some of the most common questions I get asked and naturally I’ve wondered these same things for my home so I did a little research.  Below you will find market data specific to Sendero Springs that I believe gives us a snapshot of the value and desirability of our homes.

Home values in Sendero Springs show a declining trend over the past 4 years.  The average sold price per square foot in 2011 is the lowest it has ever been.  In the most recent 3rd quarter, the average price is about $10 less than the previous 3 years.  On an average 3,000 sf home, that is a loss of $30,000!  The most common advice is to wait for the economy to improve before selling, but who knows when that will be.  In addition, some of us don’t have that luxury.  However, there is data that suggests home values should be rising.

Homes Sold Last 12 Mos 41
Absorption Rate 3.42
Current Active Listings 7
Months of Inventory 2.05

 

 

 

Buyers still perceive Sendero Springs to be a highly desirable neighborhood to live in.  We know this by using the absorption rate to determine the neighborhood inventory.  Absorption rate is the number of homes sold per month in the past 12 months. With 7 homes currently for sale in Sendero Springs, it should take approximately 2 months to sell our entire inventory.  Anything under 6 months is considered a seller’s market!

Last 12 Months Homes Sold Sq Ft List Price List $/SF Sold Price Sold $/SF SP/LP Ratio Days on Market
4th Qtr, ’10 7 2,923 $ 272,829 $ 93.35 $ 261,521 $ 89.48 95.86% 79
1st Qtr, ’11 13 2,966 $ 266,362 $ 89.81 $ 253,498 $ 85.47 95.17% 110
2nd Qtr, ’11 12 3,031 $ 265,842 $ 87.72 $ 258,403 $ 85.27 97.20% 41
3rd Qtr, ’11 9 2,946 $ 263,500 $ 89.46 $ 249,686 $ 84.77 94.76% 61

SENDERO SPRINGS HOME SELLING STRATEGY

This is positive news for all of us at Sendero Springs whether we plan on selling or not.  Having walked through all the current homes for sale and all the homes that sold in the past several months, I’ve made a short list of practical suggestions (easy to do and not too expensive) for homeowners wanting to increase the value in their homes when selling.  If we all do our small part, the home values should see an increase in value immediately.

  1. Maintain your lawn (i.e., cut grass, pull weeds, trim hedges) – this is enforced by the HOA so you can kill two birds with one stone
  2. De-clutter your home (i.e., pack your knick knacks, rent temporary storage [garage if you must], minimalize your home décor)
  3. Keep your home at a comfortable temperature for all showings
  4. If it’s vacant, get it professionally cleaned – focus on kitchen, carpets, windows, blinds, and ceiling fans
  5. Paint your walls to a neutral color and patch all holes

Looking for information on Round Rock Texas Homes For Sale? Visit my website or call me anytime!! Want the latest updates on Round Rock Texas Real Estate, news and latest developments? Sign up for the blog by clicking the link below:

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