Happy Thursday


Hope you are all doing well as many get ready to take off to see family or go on holiday trips with schools getting out tomorrow!


This week we have several new reports with some very exciting updates.


The FED held rates again, Whaoo, Merry Christmas, Mortgage rates are falling Now back below 7%


Austin Housing initiative passed which means more homes coming into the city of Austin!


We look at the November stats released today, county by county, by zip code, and area.


BP investor community released their new 2024 State of Real Estate Investing Report.


I wish you all a happy holiday break, We’d love to help you, and appreciate your referrals!

 
 

Mike Cossette 

(512) 299 5904

thecossetteteam@gmail.com


Do you know anyone who may need my services? Feel free to pass this email along so I can chat with them about their real estate needs!

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Local Real Estate News

Austin can have more starter and tiny homes with new zoning amendments allowing 3 homes per lot Now!

This is still the most exciting news for Austinites who own their own home. "Home Options for Middle-income Empowerment" (HOME) Initiative got the green light from the City Council.


Get ready for some welcome changes in the Austin housing market, new code allows up to 3 units per lot including tiny homes!


We've already had Tiny home contractors and container home builders reaching out to see if we had any Buyers so if you are interested in exploring this option let us know we have access to container homes, tiny homes, and ADU builders ready to go.

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This Weeks New Listings

 
 

Residential Market Update

 

Last week we took a sneak peek at the first look at November stats, well the official stats came out today and confirm that the run of depreciation in the city of Austin has somewhat stabilized and we even saw a slight increase, for the Austin-Round Rock MSA experienced a -8% year-over-year decline not very enjoyable to see, also not surprising.

Central Texas Real Estate Report

Of the 5 Counties that make up, the Austin MSA all of them had YOY price declines. Travis County only saw a 1% decline, Williamson and Bastrop Counties both with a --5 % fall, and Hays County leading the way with a 10% drop off in prices, we believe a lot of this is from Builders reducing prices to keep inventory moving and the more Rural areas are the ones being affected the most, especially Southern hays county from San Marcos to Buda.

The boost in year-over-year new and active listings for Buyers and investors is a breath of fresh air, Although the current surge in listings provides some relief, our city should seize the chance to create more housing supply and sustain this positive trend. Which the New Housing initiative is taking a good stab at.

Local Market Area(s) Report
 

Buyers & Investors

Now's a prime time to seize opportunities. Inventory is up, and prices have taken a dip, creating an excellent environment for those hunting for a deal. Some sellers have stepped back, but those still in the game are motivated and more open to negotiation than a few months ago. With fewer buyers in the mix, you've got a current advantage, but that window may close in the coming months. If you spot a property you like, the current scenario of low competition and heightened seller urgency is on your side.

If your a Seller

Navigating the market during the holidays can be challenging as buyer demand eases off. If selling isn't urgent, set reasonable expectations, understand demand is likely to pick up again in the spring. However, if you need to sale now, pricing becomes crucial for success, keep in Mind the Ave days on Market in 75 for the MSA and 64 in Austin, so don't panic too much if you haven't gotten an offer in the first few weeks, we do like to see 1 to 2 showings a week this time a year when homes are priced right.

November Stats by Zip Code Report
 

See New Listing Activity

SEE OUR LISTINGS
 

Investor Economy

The Fed Is Trying Its To Lower Expectations in 2024 - Pundits Call for Rate Cuts

After a few months of steady rates, pundits are ready to see them fall. The Fed might have other plans, though.


This is now the third consecutive meeting that the Fed has held rates steady as previous rate hikes are still working their way through the economy.


Mortgage rates reacted to the anticipation and fell this week for 3rd straight week. And today below 7%!! That's the lowest since August just in time for the holidays! - Check The Rates Here

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THE STATE OF REAL ESTATE INVESTING REPORT


Exciting news! BP just dropped the 2024 State of Real Estate Investing Report, and we couldn't wait to share it with you. The report breaks down the past year's market and dishes out predictions on strategies that'll either skyrocket or flop in 2024.

GET THE STATE OF REAL ESTAE INVESTING REPORT HERE

Also don't forget every week we analyze hundreds of properties for positive cash-flowing investor deals.


We're finding gems, packaging them up, and sending them out on a silver platter!

 

Want to see these deals weekly? Reach out and let us know

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Winter Seller Guide
Winter Buyer's Guide

The Cossette Team

Mike - 512-299-5904

Steve - 512-299-6570

RE/MAX Gateway

Mail@cossetteteam.com

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