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The Gibbs Team

512-431-2403

Mary Lynne Gibbs

April 9, 2019 By Mary Lynne Gibbs

RRS: PROTECT YOUR TREES AND YOUR HOME VALUE!

By Mary Lynne Gibbs • 2018 Director

As REALTORS, you know that trees add value to property. A majestic oak may be worth thousands! With the constant threat of oak wilt, one of the most destructive tree diseases that can kill oaks at epidemic proportions, we need to make our homeowners aware of the dangers. 

Research and industry knowledge add value to our clients and improves our competency, but we certainly do not want to offer information outside our expertise. I recommend you seek the advice of a qualified arborist like Greg Gundersen of Certified Tree Care who recently shared with me some helpful advice: 

What recommendations do you have for agents who refer landscape and tree care services to clients?  

Greg: The most important thing is to make sure whoever is being referred is a professional in their field. If looking for tree care, make sure they are using an ISA certified arborist. 

What do we need to know about tree care and oak wilt? 

Greg: If the trees have a lot of broken or dead limbs, make sure to have them painted to ensure their health. Oak wilt beetles are active between 60-90 degrees so no matter what time of year, pruning is important and all equipment should be sterilized. 

What preventive measures can be taken? If discovered, what can be done to help save the trees?

Greg: Prevention is always less expensive than being reactive. Keeping the trees properly maintained and all wounds painted is crucial. There are ways to protect the live oaks if oak wilt is a threat. After trees are manicured, we recommend injecting the trunk base with a fungicide, which acts as a protective barrier for up to two years. It also helps open the vascular system of the tree to allow water and nutrients to flow more freely to the crown. Make sure you have an ISA certified arborist up-to-date on the most effective and efficient ways to treat the issue.

So my advice this September is to take care of your trees, educate your clients and have a happy fall! And since fall is one of the best times to establish trees, you might tell your clients to consider planting some trees. One day they may add thousands to the value of their home!

Filed Under: Austin Updates, Blog, Featured, Keller Williams, Uncategorized

April 9, 2019 By Mary Lynne Gibbs

RRS: ONLINE HOME SALES MODELS CAN LEAVE MONEY ON THE TABLE

By Mary Lynne Gibbs • 2018 Director

Moving often rates among the top stressors in life. So, when various start-up companies say they have invented ways to make buying and selling homes hassle free, we, as REALTORS, often want to know more. Because isn’t it our job to make sure our clients have a pleasant and smooth experience during these kinds of transactions? 

But let’s remember that our job is also to protect our clients during these transactions. As we often say, “they don’t know what they don’t know,” and our job is to educate buyers and sellers. These new options to buy and sell a house with the click of a mouse – or a tap on a phone – may be convenient, but, as in many things in life, convenience often comes at a cost. I did some research on one of these companies that is active in some our state’s largest cities and found that at least one of these start-ups has charged fees of 8 to 10 percent, and sometimes as high as 12 percent. Clients have the perception they are saving 6 percent without working with a traditional REALTOR, but often they aren’t.

In addition to possibly higher fees, sellers may be leaving money on the table that they don’t know they are leaving. Like I said before, “they don’t know what they don’t know.” If they are in a hurry to sell, perhaps a click and sell method is beneficial to them, but in most cases, people need to get the most money for their homes. As REALTORS, we bring experiential knowledge that sets us apart. Algorithms used by these technology-based companies can’t touch, taste, smell or put their eye on the property to determine its value like we can. 

Even a former REALTOR, who had years of experience but had let his license expire, did not know how much his home was worth when it came time to sell. Factors such as low inventory and location allowed us to push the market and we got him $100,000 more. If he had used a click and sell type of company, he would have left that on the table unknowingly. How is that helping the consumer?

In everything, there is going to be a bigger, better model that touts itself as being more efficient and saves money, and we in the industry must be prepared for that. But we also must be ready to educate and protect our clients about the potential costs of these click and sell methods. More than ever, be ready to show clients how using your skills as an experienced and educated REALTOR is essential. And if the transaction does turn out to be one of life’s stressful events, they can buy multiple massages with the money they did not leave on the table! 

Filed Under: Austin Updates, Blog, Featured, Keller Williams, Uncategorized

April 9, 2019 By Mary Lynne Gibbs

RRS: TIMES HAVE CHANGED, AND SO HAVE HOUSING PRICES!

By Mary Lynne Gibbs • 2018 Director

It was May 23, 1973, when my parents closed on their home and our family moved back to Austin. The final sales price was $34,582.75. Wow, how times have changed since my teenage years.
  Fast forward to May 2018, when the Austin Board of Realtors reported the median price of a home in our city at $389,000, a figure fewer and fewer can afford.
   Recently I attended a mid-year economic forecast with speaker David Tandy, president of Texas National Title, who stated that if home prices continue to increase at 5 to 7 percent per year, combined with our population growth, then affordability challenges will continue, and rentals will grow.
     As REALTORS we all are feeling this impact and realize that more and more of our first-time home buyers are seeking housing on the outskirts of Austin due to affordability. The challenge for them is often whether to accept a longer commute into work or trade off with less square footage closer in.    
   Affordability also is taking a hit due to interest rates, which had been historically low but are now rising. Communicating this shift with our buyer prospects may encourage them to act more quickly to enable them to benefit from homeownership sooner rather than later.
   While native Austinites who have witnessed home prices skyrocket may feel as though housing affordability is diminishing, Austin is reasonable when compared to the national market. According to PayScale, our city is 3 percent below the national average cost of living and the cost of housing is 15 percent below the national average.  
   “In many other large cities, the cost of housing is well above the national average, regardless of the overall cost of living,” according to PayScale. “It’s no wonder that Austin is one of the most popular cities in Texas.”
 So while home prices have risen astronomically over the past 45 years, smile and realize it could be worse!

Filed Under: Austin Updates, Blog, Featured, Keller Williams, Uncategorized

April 9, 2019 By Mary Lynne Gibbs

RRS: TAKE GREAT CARE WHEN SELLING DIVORCED LISTINGS

By Mary Lynne Gibbs • 2018 Director

Closings are typically the time to celebrate and are often topped off with champagne. This is not always the case when couples are divorcing. Our fiduciary duties as professionals are to put our clients at ease; making sure to treat both spouses or soon to be ex-spouses equally. Remain neutral, avoid giving relationship advice, remember you are not a marriage counselor, but have a willingness to listen.

The closing may be the final act in dividing assets in a settlement agreement. Separating marital assets should be left in the hands of your clients and their attorneys. Remember REALTORS shall not engage in activities that constitute the unauthorized practice of law as per the Code of Ethics. Obtaining a copy of their divorce decree, open communication with their attorneys and the title company will help ensure a smooth transaction. Utilizing your title resources for a preliminary closing disclosure or estimated net sheet when taking the listing will allow transparency and prevent surprises at closing. Ask your clients how they would like to be communicated with and copy both on all correspondence. A “paper trail” is always a good habit so nothing gets lost in translation.

Divorcing couples with children can be the hardest. Paying extra special attention to them will brighten their day. They of course did not wish for these changes in their lives. Will both parties be able to purchase or only able to lease? Is there damaged credit? Housing may be smaller and less affordable based on one person’s income. All these things are to be taken into consideration.  

The house was once filled with memories, dreams and traditions; the adjustment to change can be very emotional. One spouse may have moved on in another relationship and the other one remaining in the house may have a lot of anger festering with additional responsibilities such as having the house on the market and keeping it show ready. Some tips to help with the sale may be to incentivize the seller with offering housekeeping services paid by the party that is ready to get the house sold or offering financial gain for a good showing.  

Scheduling separate signings at closing may be best for some and less stressful. Divorcing couple representation can be twice as much work and double communication yet certainly worthwhile. 

Filed Under: Austin Updates, Blog, Featured, Keller Williams, Uncategorized

April 9, 2019 By Mary Lynne Gibbs

RRS: TINY HOMES APPEAL TO BUYERS IN ALL GENERATIONS

By Mary Lynne Gibbs • 2018 Director

When my daughter Kelly shared her interest with me to own a tiny house, I thought, “what was she thinking?” Why would someone have that desire and was this a fad? She explained how these homes are more environmentally friendly and offer a simplified lifestyle. As I began to educate myself about this whole tiny home craze, I decided to do some research on this concept and discovered there were several factors that folks take into consideration when looking at this as their best housing option. Footprints, efficiency and affordability are top on the list of benefits to buyers. Having a smaller footprint will in fact allow one to be more conscious in acquiring items that are not necessary and become more efficient in living a minimal lifestyle. Keeping in mind the size of the space will lead to lower utility bills when it comes to heating and cooling which will give way to freeing up financial assets. Investing in a home versus renting is always a smart option and a small house will give an affordable pride of homeownership.

Thinking this is just a generational thing? Think again. As I developed conversations with other fellow REALTORS, I discovered it was a desire of folks from every generation. A colleague shared with me this photo of what she described as a “Granny Flat.” It is a small French 17th Century stone cottage. She targets tiny houses as a part of her marketing plan on social media.
Tiny House Hunters on HGTV have several episodes that offer a wide variety of styles from contemporary to rustic. They also show the value of being mobile with an ability to move easily.

Mobile Loaves & Fishes’ Community First Village has a 27-acre master-planned community for transforming and supporting our homeless men and women. They provide 140 micro homes to their residents offering a hand up as they transition back into society. What an impactful cause and generous concept.

Texas has been ranked at the top of the “Best Places to Build A Tiny House” list. Austin specifically is home to Constellation ATX which features over 100 lots for tiny homes, Village Farm is slated to have 150 home lots and Kyle has a tiny home project tentatively named Stage Coach coming to the area with 400 lots. Based on the many developing communities nearby it is a good indication that these housing options are a desire of our consumers in the real estate industry and seem to be the latest trend and not fad.

For more information about upcoming luncheons, events or becoming a CRS designee, like us on our Facebook page: Texas Central RRC Residential Real Estate Council.

Filed Under: Austin Updates, Blog, Featured, Keller Williams, Uncategorized Tagged With: time homes austin, tiny house austin

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