4.28.2014

1st Quarter Market Report 2014.

1st Quarter Market Report 2014.  The numbers are in and the Amarillo Real Estate Market is Looking Strong and Robust! 

Here we see year over year comparisons from 2012, 2013, and 2014 for the first quarter measuring the total number of houses sold, average sales price and average days on market. 


To find out what your home is worth today in Amarillo try our online home valuation for free here http://www.caprockrealty.com/home-valuation/?utm_source=BLOG&utm_campaign=Dirks+Blog+&utm_medium=referral

Please feel free to call me any time with questions about real estate in Amarillo! All the Best! 

4.26.2013

2216 WOODSIDE DR Beautiful in Westcliff

Great property in Westcliff!

2216 WOODSIDE DR. Beautiful home in Westcliff with so much to offer. Great floor plan for entertaining, gourmet kitchen, huge master suite with very large bedroom, bath and closet. Finished basement, beautiful finishes like Spanish tile and hardwoods, granite, and much more. This home is also located on a large corner lot in Westcliff just a stones throw from the Woodlands. Contact us to schedule your private showing of this great home! 806 654 3842 dirk@caprockrealty.com You will love all the natural light and open feel of 2216 WOODSIDE DR. 

Take a look at the pics and also the details are listed below!



































Property details.







List Price279,000New ConstructionNo 
Zone0100 - NW Amarillo in City Limits Area0123 - Westcliff 
Begin Date04/15/2013Total Bedrooms3
Total Bathrooms3Lock Box Number31003024



Stories2Square Foot SourceAppr Measure 
Total SqFt. (+/-)2,920Fin. Bmnt Sq Ft400
Price Per Sq. Ft.95.55Garage TypeAttached 
Garage Stall2 Stalls Original List Price279,000
Year Built1983Lot Size167.0 X 135.06




3.25.2013

What is my home worth in Amarillo TX?

So what IS your home worth in Amarillo TX? 




Here at Caprock Realty Group, we get one question A LOT.... What is my house worth in Amarillo, Canyon, Bushland, or the Surrounding Area? 

There are many factors that determine what a house is worth, the four top factors are;

  • Location
  • Core Features 
  • Condition
  • Market Activity


Location- It doesn't matter how nice or updated your home is, if it's in a poor location you will never get the value out of it. Likewise if your home is in a great location then you will be able to sell your home for a good price even if the condition is not that great. Some of the main influences on location include:
  • Area Schools
  • Neighborhoods 
  • Parks, Recreation, Shopping, Medical, Etc
  • Proximity to Work 
  • Proximity to family and friends 
Always keep resale in mind when choosing a location, for example, its not a good idea to buy a home that backs up to multi-family living structures such as apartments. 


Core Features- Now that a buyer has chosen a location, they start looking at features such as; 
  • Square Footage Size
  • # of Bedrooms, Bathrooms, Garages Stalls
  • Floor plan and layout
  • Yard Size 
  • Special Features 
These type of features will determine whether a buyer is further interested in your home, unlike property condition that can be overcome by price reductions and/ or allowances, the core features of a home are typically make or break on deals. 


Condition- Ok, so we have the right location and right core features, now lets focus on condition. Condition has to do with two factors;
  • Repairs Needed 
  • Updates Needed 
The condition can make a huge difference in what price you can expect on a home. For example, you can have two homes next door to each other, both built in 1972, same size, comparable floor plans. One house had been completely updated and repairs maintained, the other house is all original and needing some major repairs. In this situation these two homes could bring a difference of over $35,000 if the market prices were around $180,000. 

Market Activity- The current market activity is what sets the average price per/sf for homes. When doing a market analysis we look at 4 main criteria on comparable homes;
  • Active Homes for Sale 
  • Home Sales in the last 6 Months
  • Homes Currently Under Contract 
  • Expired Homes that were Listed and Never Sold 
Based on these criteria (and the fact that we are looking at comparable homes int he same area) we can determine what your house is worth, how long it will take to sell, ad how much you will NET from the sale of the home once all expenses are paid. 

So there you go...Now you have a good idea of how to determine what your home is worth and what buyers look at.

Need a Value Report on Your Home? 

For you free home value report contact Caprock Realty Group, you may be surprised to see what your home is worth! 

806 654 3842  
dirk@caprockrealty.com 












1.08.2013

2012 Comprehensive Amarillo Residential Real Estate Market Report

So how did the 2012 real estate market stack up in the Amarillo TX Area? The answer might surprise you!





"The Amarillo area real estate market was up almost 20% from 2010 in total volume and only down 2% from the all time record breaking year in 2006" 

2012 turned out to be a very interesting year in many ways;
  • 2012 London Summer Olympics
  • Facebook Goes Public in the Single Largest IPO Ever
  • International Riots and Terrorist Attacks  
  • The United States Elections 
  • The United States Economy and Unemployment 
  • The Mayan Calendar End of the World
  • Fiscal Cliff USA 
Those are just a few major events in what seemed to be a hectic year. So the question is...how did the local Amarillo area real estate marketplace react to all of it?

Turns out Amarillo did GREAT! 
Based on the number houses sold and at the prices which the homes sold, the total dollar volume was up almost 20% from 2010 and only 2% behind the largest year the Amarillo real estate history back in 2006. The overall inventory levels were also down consistently from 2009, 2010 and 2011. That meant more home sales with shorter times on market and at prices held solid. Amarillo continues to shine in many ways including the local economy, unemployment rates, city wide sales tax, and the real estate market is no different. Amarillo TX has consistently been one of the top real estate markets in the United States during the last 4 years.  


2012 Real Estate At a Glance  
  • Average Sales Price                                     $155,129, up 5.98% from 2011
  • Average Days on Market                            109 Days, Down from 123 in 2011 
  • 2709 Homes Sold                                        284 Homes more than 2011
  • $434,650,440 in Residential Sales         Up $60,571,586 from 2011
  • Year End Inventory Level                         4.2 Months - Now a Sellers Market                     

Now in the start of January 2013 the Amarillo area sits at an inventory level of 4.2 Months, and with that number we are in a Sellers Market! Simply put, inventory is down and demand is up! Even though we are still in the winter season, it is a GREAT time to sell a home based on the inventory level, average sales price and current demand. Home owners can also expect that home values will hold strong with the continued historically low interest levels and strong local Amarillo economy. 

Overall the numbers look great in all the categories. The Amarillo area real estate market is solid and on the climb. Based on what we are seeing in the marketplace numbers, 2013 is looking very promising!


For all the numbers people out there, below you will find some charts and numbers that go into more details. 



2012 VS 2011 




       The last 6 months of Inventory and Sales per price range



Volume Sold 2011 through 2012 with Average List Price VS Average Sold Price 




Current Listings, New Listings and Sold Listings 2011 Through 2012 



2006 VS 2012 Sold and New Listings 


As always for any questions about buying or selling real estate in the Amarillo Area call Professional Realtor Dirk van Reenen with the Caprock Realty Team at Keller Williams.

Dirk van Reenen                806 654 3842     dirk.vanreenen@gmail.com