Austin’s housing market is a roller coaster, and the current climate can be a tough one to decide to sell in. Karlyn Ellis, Real Estate Broker and Owner Realty ONE Group Prosper, spoke with Studio 512 about best options for sellers at this time.

Karlyn says, “We saw unprecedented growth in home sales and appreciation of homes during 2021 and the first part of 2022. The demand for buyers was incredible and we did not have the supply to handle it. So, we saw record sales prices. Then, in the blink of an eye the mortgage interest rates jumped up and buyers no longer could afford to buy. We are now coming to grips with a new normal where buyers that must purchase a home are grappling with the reality of higher interest rates and expensive homes. This has slowed our market considerably.”

If someone does have to sell now in a suboptimal seller’s market, what are their options?

“Well, if you are someone that purchased a home at the height of our market in ’21 or ’22 and no longer can afford to remain in that home for whatever reason, the good news is that there are options. What we have found is that there is no ‘one size fits all’ plan for home sellers. My team has the ability to offer a multitude of options like short sales, renting out the home, perhaps remodeling the home, all the way up to full-service listings and options in between that include the ability to not have to pay a buyer’s agent commission which will in turn will save the seller thousands of dollars.”

How should people evaluate which option is right for them?

“There are lots of resources that can be found online, I have a dedicated page on my website that dives into more specifics and I have several upcoming home seller seminars where they can learn more about their options. But, the best thing a homeowner can do is to consult with a real estate professional with experience and again, multiple options for selling a home. They will sit down with you and help you develop a strategic comprehensive game plan to get you to where you want to go.”

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This segment is paid for by Prosper Properties Realty Group and is intended as an advertisement. Opinions expressed by the guest(s) on this program are solely those of the guest(s) and are not endorsed by this television station.