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CRS: CODENEXT WILL IMPACT OUR LIVES FOR DECADES TO COME — GET INVOLVED!

By Mary Lynne Gibbs • 2018 Director

CodeNext, our Land Development Code (LDC) that is being rewritten will play a major part in our housing industry. This third draft of the city of Austin’s CodeNEXT, “Community not Commodity,” is a plan to rezone Austin and redevelop East and Central Austin. Will we see an increase in gentrification? Will outward migration occur due to lack of affordability? This is one of the issues that this code is looking to address.

Are Accessory Dwelling Units (ADU) an option? Allowing an additional unit to one’s property like a garage apartment, tiny home, duplex or granny flat lets the owner have the potential to create additional income and gives more reasonable rent options to tenants. It may give relief to inbound traffic to Central Austin. “Gentrification” was originally coined by a British sociologist, Ruth Glass in 1964 and has been a subject that has impacted cities with growth for years. Austin has seen a growth rate of 241 percent from 1980-2015 and it is not  predicted to decrease. 

In this latest rewrite, impervious cover is addressed to prevent flooding and mitigate the negative impacts of urbanization on water resources. Austin has adopted surface regulations that limit the ratio of impervious surface to the total site area. Currently each single-family property is required by the LDC to have at least two parking spaces. In this rewrite one may have one parking space and the owner may enjoy that extra space for a playscape, trampoline or garden.

Austin prides itself as being one of the most progressive cities around. Let’s look to preserve our heritage and community. Get involved. This is the first time the LDC has been rewritten in 30 years and will impact our future for years to come. It is one of the most important policy decisions our Austin City Council will make and will impact businesses that are considering coming to our area as well as our neighborhoods. From top to bottom this will impact all our lives. Let’s look for a “Win, Win” where we maintain our culture and allow smart development. For more info, go to EvolveAustin.org or AustinTexas.gov/CodeNEXT.

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CRS: EXPERTS ARE WEIGHING IN

By Mary Lynne Gibbs • 2018 Director

How fortunate we are to live in such a great city as Austin, Texas. The Austin-Round Rock MSA is the 31st largest metropolitan area in the U.S. I love that we continue to be on the top performers lists in the state and we continue to attract national attention. The area is predicted to continue to outperform most of the nation and lead by expansion in manufacturing, producing and distributing information and cultural products.   

According to David Tandy, president of Texas National Title:

  • Job growth will be strong because of companies expanding and moving here. The challenge is the very low unemployment rate. There are no employees to hire.
  • Median home price will increase 3 to 4 percent. It was 3.2 percent for 2017. Price points and interest rate increases will keep it from being more of an increase.
  • Rates will rise gradually, especially if the stock market continues to increase.
  • We will build about the same number of homes (15,000 to 16,000).
  • Active listings will be at 2017 levels, not 2016 levels because we are still not building enough homes.
  • Days on market increased an average of 60 DOM in 2016 to an average of 77 DOM in 2017. That will probably increase another 10 percent or so in 2018.

As we see our inventory decrease in the heart of Austin the suburbs tend to be where more affordable choices are found. Folks that typically prefer to be downtown are looking to the outskirts of town for newer options with more square footage and space.

“The bottom line is that a lack of first time buyer inventory is the root cause of home prices going up. In addition, interest rates are the only thing keeping home affordability in check. Prices are now higher than ever. If the fed does get to raise the rates like they want, then we will see a decrease in demand. The reason they may not raise them anymore this year is because inflation is low, unemployment is low and GDP is close to normal,” says Gary Keller, co-founder and chairman of the board of Keller Williams Realty.

Come hear from Texas State Senator Kirk Watson share his Vision for Central Texas at our Central Texas CRS luncheon at 11:30 a.m. until  1 p.m. on Feb. 21. Tickets are $20 for CRS members and $25 for non-members.

Also, mark your calendars to hear CRS Instructor and 2011 CRS National President Frank Serio from Delaware teach “Building an Exceptional Customer Service Referral Business” from 8:30 a.m. to 5 p.m. March 6 and 7 at the Keller Williams Realty – Lake Travis office. It will be a highly interactive course designed to deliver all the essentials for refocusing your business plan to be customer service centered in order to attract repeat and referral clients for life.

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CRS – Certified Residential Specialist

By Mary Lynne Gibbs • 2018 Director

Happiest of New Years to you!  Is one of your resolutions or intentions to be the best REALTOR you can be? Is your intention to improve in your professional role? Why not include CRS in your plan? What better way to increase your professional skills and knowledge by earning your CRS designation or up your game if you already have your designation?

Council members represent the top three percent of all REALTORS in the country. With 33,000 members, you are immediately connected to a professional network of top producers for best-in-class education, networking, valuable referrals and more.

When you join ranks with the most accomplished agents and brokers in the U.S., you gain the credentials and advanced professional knowledge that commands the trust and attention of your clients and peers. You set yourself on the path to earning the most prestigious designation in real estate.

Please join us at Sell-a-bration with educational classes like Marketing and Online Reviews, Social Media and Marketing, Personal and Professional Development, and Systems for Success. It will be held from 8 a.m. until 5 p.m. on Feb. 5 and from 8 a.m. until 4 p.m. on Feb. 6 at the Gaylord Texas Resort & Convention Center. I’m personally excited to hear Mel Robbins and Platon as the keynote speakers.   

Also, don’t miss out on the TX CRS classes and luncheon at the TAR Winter Meeting Feb. 10-12 at the Hyatt Regency Austin.

Mark your calendar and make plans to join us for our bi-monthly CRS luncheon from 11:30 a.m. to 1 p.m. on Feb. 21 at the Westwood Country Club.

As we usher in a new year, we are excited to announce that our organization also has a new name, website and logo. Council of Residential Specialists will now be called Residential Real Estate Council.

I am honored to serve our Central Texas region as the director for 2018 and be accompanied by our board consisting of David Burton, Gay Puckett, Georganna Zaba, Lili Maliner, Susanna Boyer and Ted Smith. Contact us if you want to be more involved in a committee, attend CRS classes or simply want a preferred vendor for an upcoming event. Find us at crs.com.