So, if your competition isn't currently using hyperlocal sites in your market this is your chance to get ahead of the crowd.

The truth is that sites like this are great for turning your local market on its head. What I mean by this is that a well crafted hyperlocal site can trump much bigger competitors in the search results for specific terms. If you get most of your business through online registrations, this can be a great addition to your current lead-flow. After all, Google has shown a strong preference for sites that focus on a single topic (e.g. YourNeighborhoodHomes.com or YourArea.com) as compared to a larger site with a specific page focusing on the same topic.Sice sites like these are designed to be a sort of guide for the area, they will typically discuss local news, events, politics, or whatever else is popular among the residents. The key is to have great content that people actually find useful.

If you decide to invest in one of these sites, you first need to ask if there's enough volume in the given area to justify the cost of creating the website and the ongoing IDX fees. As with any website, it will take time and patience to get it running the way that you want; but when you do, the added leads can be well worth it.

Once your site is looking well-polished, you can add MLS listings, your biography, links to your own realtor website, and anything else you think people would be interested in. Just remember that a site like this is not about your goals of acquiring more leads, it's about creating unique and valuable resources that don't exist elsewhere for a targeted group of people. There are several caveats to creating sites like this, and I strongly recommend closely reading The Exact Match Domain Playbook from SEOMoz if you intend to undertake a project like this.

It's especially important not to over optimize these sites (due to Google penalties), and it's definitely a long-term investment that you may or may not be comfortable with fronting all at once. Many people say that sites like this are no longer a viable strategy, but I'm here to tell you that they most certainly are if you do it correctly.

I recently launched my second generation Lake Austin website at www.homeslakeaustin.com .

Actually, thats not really so hard to take, is it?

If youre planning on buying an Austin home, it isnt exactly good news -- there are fewer choices and theyll cost you more-- but if youre on the selling end, its great news.

Lets take a look at some information that will help you understand whats happening in Austin real estate right now.

The Numbers

In early April 2013, new home listings increased four percent. Homes under contract increased almost 30 percent over the same period last year, and the average price of a home sold in the city was up 33 percent over the same period last year. Those are all really solid numbers.

For this period of 2013, the average price of a home sold was nearly $325,000.

When comparing March 2012 to March 2013, its easy to see that home prices are rising modestly over last years. Specifically, according to MLS numbers, the average price of a home sold in March 2012 was just over $260,000. The average price of a home sold in March 2013 was about $286,500.

An even better sign of a strong home market is that houses are selling closer to their asking prices. In March 2012, homes sold for 94 percent of their asking price on average. In March 2013, homes pulled in 97 percent of the asking price.

A Growing City

The strong numbers are no surprise to those who watch the Austin real estate market. In the period between August 2011 and July 2012, Texas experienced a population increase of 427,000 residents, according to Forbes. Austin was the fastest growing city in the state during that period, and Houston and Dallas saw strong growth too.

The trend hasnt changed since then. In fact, its still increasing. People are moving to Austin for the jobs, because theres no state income tax and because the areas is business-friendly, among many other reasons.

Plus, the University of Texas turns out talent every semester thats ready to be picked up by a variety of industries, making this a great place for a company to operate. A great place for business, of course, is a great place for workers since theres a steady stream of good jobs.

To help prove that Austin is growing, consider these numbers: In 2011, just over 19,000 homes sold in Austin. In 2012, more than 22,500 houses changed owners. Thats an increase in sales of nearly 18.5 percent.

The average price of homes sold rose more than 5 percent, and the median price rose almost 6.5 percent.

Another indicator of strength in the market, the average number of days a house sits on the market decreased from 80 in 2011 to just 64 in 2012, a 20 percent decrease.

Lots Of Facts

Its a lot of facts to comprehend, but you dont have to understand them all to see that theres a tightening in the Austin home market. Homes are selling quicker and for more. And because the city remains desirable, this trend isnt likely to change.

Unless theres a major economic downturn or outside influence on the national or international level, conditions will continue to improve in Austin. That means theres no better time to buy a house than now, although sellers who can wait may be able to achieve higher prices down the road.

Austin is a strong and vibrant city, and its housing market -- damaged in the economic downturn of 2007 and 2008 -- shows no signs of negativity now.

1. Impact of Technology

According to NAR, “50 percent of agents and 47 percent of brokers spent between $501 - $2,000 on technology for their business in the last 12 months.” To me, these numbers seem low. I personally know many brokers who spend upwards of $100K per year on technology to remain competitive.

The same study revealed that the top three purchases people plan to make in the next year are a smart phone, iPad and digital camera. It also revealed that over 90 percent of REALTORs now maintain a social media presence.

2. Home Buyers and the Internet

If you don't see the impact technology is making yet, they you're probably still doing business based primarily on referrals. I'm here to tell you that there are a lot of opportunities out there for the motivated agent. Check out the results of a result NAR consumer poll says. It reported that 74 percent of potential home buyers in 2012 began their home search online. These are also national statistics, and I can say with a high degree of certainty that in Austin, this number is probably closer to 95%.

3. More Independent Searches

The same NAR poll showed another trend. When potential buyers find a property they like, they're more likely to contact the seller directly before hiring a REALTOR. Nearly half of those polled said they had done just that. Twenty-nine percent said they found their agent through an online home search and 21 percent said they did a drive-by on homes they saw online.

4. Realtors in Cyberspace

Most REALTORs have done an above-average job of acclimating to the overall online climate. Over the past decade, they have increased their online presence and have made excellent use of the capabilities of the Internet. One perfect example of this is in the propagation of listings on MLS (multiple Listing Services) to many sites at once. This alone has made it easier to find a better buyer's agent than ever before.

5. The Tools of the Cyber Realtor

The vast majority of today's REALTORs have their own web sites. The most successful brokerages also utilize other online tools. Most keep an up-to-date blog. Many have sought the help of search-engine-optimized (SEO) content writers for those blogs to increase their visibility in search engines. Many distribute online press releases to inform the public of the latest news in the real estate industry, as well.

It is no secret that online technologies now drive many offline behaviors. Just ask online giants like Google. Technology is only going to continue to unfold new opportunities that will connect homeowners with perspective buyers and realtors alike. In the mean time, take advantage of some of the real estate social media tools that are already available to you today.

Tip 1: Don't Buy a Home with a Bad Title (Unless)

Do your research and know for a fact that you'll be receiving a clear title, unless you know all the costs and can factor a savings. You don't want to find yourself unknowingly responsible for the past due taxes or IRS liens on the property. Many times at home auctions you'll hear the auctioneer state that a property is “sold subject to all liens and encumbrances.” This means that, in addition to buying the house, you will need to take care of other related expenses of ensuring that the title is clear. This can include anything from back taxes due on the property to a second mortgage. Researching the title ahead of time can help keep you in the clear. After all, the point of going to a home auction is to save, not spend, money. Right?

Tip 2: Knowing About the Neighborhood is Really Important

Thorough research of the neighborhood will tell you many things, right off the bat. First, you'll be able to find out what the median price of each home is in the area. In addition, if there are several foreclosures in the area, it usually means that the price of the homes has continually dropped over time. This information is very important when deciding what to bid on a home. Finally, talking with current residents of the area could give you an honest take on the area along with other information that you wouldn't otherwise be able to find on the web.

Tip 3: Hiring a Contractor is Absolutely Worth It

If you are serious about placing a bid, make sure to bring a professional contractor to the site. A professional contractor is trained to look for any structural problems or repairs that are needed. Remember that perfectly maintained houses don't usually go to auction. Hiring a contractor will be well worth the money, as they can tell you if major investments will be needed to meet code. While you may not see any damage or structural flaws on the home, a professional contractor has an eye for detail that will definitely reduce your risk and could potentially save you from investing in a loss.

Tip 4: Bidding It's all About Timing

When the actual bidding begins, you'll want to consider your timing. A frenzy of bidders could push the value of a house beyond what it's worth paying. In spite of doing your research, carefully planning your bid and even hiring a contractor, this can still happen. Don't overpay because you feel that you're already "invested" in a property. Several hours of your time and a few hundred dollars spent are nothing compared to getting a suboptimal deal on a house. Understanding these intricacies are what buying at auction are all about.

I believe that people should go to several auctions before actually bidding. Consider it a dress rehearsal for the real thing. If you notice a portion of buyers waiting to get a feel for the market and pricing at the beginning of the auction, then take note. Being armed with right information beforehand allows you to spot a value when it arises, and you may just benefit from a nice steal within the first hour of an auction.

Tip 5: Know What the Heck You're Doing!

Buying a home in today's market can be tricky, especially if you're not a trained real estate expert. This is why more people are considering purchasing a home at auction for a fraction of the cost. However, there are some important factors to consider, before jumping on the auction wagon right away. Conducting a little bit of research, being prepared, and understanding the proper bidding techniques are a few ways to help you kick start the journey of buying a home.

Creative Commons Images

Generously provided by Colleen Lane

A New Influx of Austin Buyers is Changing the Market Landscape

Austin has been expanding at a pretty rapid rate for the past few years now. Homebuyers coming from more expensive markets, like New York or Los Angeles, will find that housing in Austin is relatively cheap, and the quality of living is high. Our air and water are clean, we have beautiful scenic hills, and the culture has proven that Austin is a place where world-class things can happen.

In Q4 of 2012 and Q1 of this year, Austin Realtors saw great sales numbers. But now, national builders like KB and Lennar are being enticed by higher selling prices and an increase in sales volumes. KB sites an increase in the average selling price of new homes by 24% over the past year. Many builders are still in the red after the last market collapse and are hoping to use this opportunity to close the gap in 2013.

A Sleeping Giant Awakens

Before homebuilders can begin large volumes of sales, they will have to figure out how to overcome several problems currently facing the industry. The National Association of Home Builders said this week that new home demand is progressing faster than builders can keep pace. As builders struggle to deal with heightened material and labor costs, they also face the problem of a lack of readily available lots to build upon.

This is good news for Realtors, since builders will have to play catch-up in order to be ready for the summer homebuilding season. A more likely scenario is that builders won't be able to ready enough lots to fully ramp production until early Q3, which means any homes built on new lots wont be ready until somewhere around September. There is also the possibility of other supply shortages (like lumber, concrete, or shingles), since the entire residential construction industry has scaled back to meet the reduced demand of a depressed economy. These factors should keep demand levels high for at least another quarter.

How Real Estate is Changing in Austin

The level of competition between Austin real estate brokerages has also been increasing. More established Austin firms are grabbing larger shares of the market share by expanding their businesses, leaving them well positioned for the future. Throughout all of this, smaller real estate brokerages are being forced to fight harder to keep pace, or risk being left behind.

In all, the Austin home market is seeing tremendous growth, and its a great time for the entire ecosystem. Smart Realtors (and business people in general) will recognize opportunities in almost any situation and adapt accordingly. At my company, were investing heavily in our marketing as well as opening a new office in West Austin. My hope is that well see strong growth trends continue throughout the year and into 2014 before stabilizing into a leading local economy with steady sustainable growth numbers.

For a more detailed market update with average cost per square foot, numbers of homes for sale, pending, and withdrawn, and more, feel free to read my full report by clicking here: Regent Property Group Market Update.

Between January 1st and May 21st a total of 2973 single family homes sold in the city limits of Austin. While only 2587 homes sold during the same time period in 2009, which is 13% less than the same time in 2010.

Bank rates continue to remain very low at 4.84% for a 30 year fixed rate mortgage according to Freddie Mac.

For a more detailed update on the Austin unemployment rate click: Austin Unemployment and Austin Real Estate Market Update April 2010.

Source: Raw real estate data provided by the Austin Board of REALTORS and interpreted by Austin Realtor Brian Talley of Regent Property Group. The unemployment data was provided by the Texas Workforce Commission and the Austin American-Statesman. Although the above information is deemed reliable, it is not guaranteed to be reliable or accurate. The information contained herein is subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Brian Talley or by Regent Property Group LLC.

Although the unemployment rate for Austin is 7.1% it still remains lower than the unemployment rate for the U.S. and Texas. For a more detailed update on the Austin real estate market click: Austin Real Estate Market Update and Statistics April 2010.

Source: The raw data in this report was provided by the Austin Board of REALTORS but interpreted by luxury Austin Realtor Brian Talley of Regent Property Group. The information contained herein is subject to errors, omissions and changes without notice. Any information, statistics, analytics, recommendations or opinions provided in this report are subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Brian Talley or by Regent Property Group LLC. Statistics in this report may be updated as more information is added or changed from the source of this information.

Some good news is that the Austin unemployment rate has continued to decline. The overall unemployment rate for the Austin area was 6.2% in April 2009 and has gone down to 5.8% over the past month. The Austin unemployment rate remains lower than both the State of Texas and the national unemployment rate, which serves as a comforting indicator of economic strength for Austin.

For a more detailed market update with average cost per square foot, numbers of homes for sale, pending, and withdrawn, and more, feel free to read my full report on the Regent Property Group website, here.