About Me
Hi,
I'm Rodney Monk,REALTOR and owner of Central Texas Home And Land. I cover all of Central Texas (14 Counties) and sell (like my business says) both Homes and Land. Since taking this role I have been a top producer in my office (which happens to be the #1 office in the world 3 years straight), and yet continue to better my services to further help my clients. I don't even think the term clients is the best to use for those I work for. I enjoy the fact that after most of my closings, I continue to get calls for advice, and other services. I think this is due to the fact that I genuinely get to know my clients as friends. I think this is important not only to better understand their needs, but also to make for a overall more comfortable experience. When you call on me, you are not just getting a leader in the real estate industry, you are calling on a friend.
I'm Rodney Monk,REALTOR and owner of Central Texas Home And Land. I cover all of Central Texas (14 Counties) and sell (like my business says) both Homes and Land. Since taking this role I have been a top producer in my office (which happens to be the #1 office in the world 3 years straight), and yet continue to better my services to further help my clients. I don't even think the term clients is the best to use for those I work for. I enjoy the fact that after most of my closings, I continue to get calls for advice, and other services. I think this is due to the fact that I genuinely get to know my clients as friends. I think this is important not only to better understand their needs, but also to make for a overall more comfortable experience. When you call on me, you are not just getting a leader in the real estate industry, you are calling on a friend.
Testimonials
"“I have worked with Rodney on many transactions and I consider him a friend at this point. I have noticed that all of his clients feel secure and in the end, they can call Rodney a friend as well. At the closing table, you just get this sense of appreciation for all the work he has done throughout the buying process. He is very professional but laid back at the same time. Working with a realtor that actually listens to your needs is important, and that is what Rodney offers.”"
Monica Jenkins Thu Aug 7, 2008
Monica Jenkins Thu Aug 7, 2008
"“Rodney's work ethic and dedication to his clients is unparalleled. Due to his extensive real estate knowledge and experience, he was able to find me a great condo at a great price. I recommend his services to anyone who values honesty and integrity in an agent.”"
Amy Valdez Sun Oct 5, 2008
Amy Valdez Sun Oct 5, 2008
"We met by chance and what a Blessing it turned out to be for us in the months to come. You did a great job of sending us properties that met our criteria and then kept us informed about their availability or lack thereof. We appreciate your knowledge and candor on what was good or bad about each property. In the process we found a true friend and a Christian individual that we will recommend to anyone looking for a house or land in your area."
James & Susan Wernli Mon Apr 28, 2008
James & Susan Wernli Mon Apr 28, 2008
"I manage the safety and security for 22,000 employees in 90 owned and 150 managed hospitals in 31 states and 2 countries and everyone who knows me will tell you that I may joke around and play around more than most, but when it comes to business, I don't play around. They will also tell you that I say it like it is. When I pay a compliment it isn't fluff, it isn't bull, it is what I truly believe. That is why I told you to use me as a reference anytime you need.
I have a lot of close friends that are in the real estate business and I would come back to you guys in an instant. And believe me, I don't say that lightly."
Silas Powell Mon Apr 28, 2008
Silas Powell Mon Apr 28, 2008
My Q&A
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Rodney Monk's Questions (0)
Rodney Monk's Answers (14)
Rodney Monk answered:
I would just like to acknowledge the last entry"Realestate#1". First of all, are you afraid to use your name? I don't understand why there are so many people(and I am seeing it alot) that have nothing better to do with thier time than to try to stir up controversy. I want to remark on your comment. In all of the blogs I have read and posted, I don't recall anyone ever saying that we are at rock bottom, that prices will never go a penny lower, and that tomorrow they will shoot up through the roof.
However, I have read and posted, that it is a good time to buy, which it is. Merely a fact. I don't know why you don't seem to get that.
Your response is like going to the doctor and him telling you that he is pretty sure you have cancer, and you should probably get treatment, and you telling him that that you don't think it is at its worst yet, so you are going to wait for treatment.
We are proffessionalls that live and breathe in what is going on. And yes things are different in different regions, but I would like to ask you this.
What are the factors that you feel determines the time to buy?
Is it when there is more supply than we have ever seen in our lifetime?
Is it when interest rates are lower than have ever been documented?
Is it when sellers are doing everything they can to get rid of their homes, including dropping the prices so low they are losing money, and it is way below appraised value?
Is it when the government is giving you money to buy?
Well, I can't imagine those not being good signs, so I am saying it's a great time. I forgot my crystal ball at home though, so I can't tell you what will happen tomorrow. But maybe your cancer will be better tomorrow and you will be soooo glad you didn't get that treatment.
Rodney Monk
However, I have read and posted, that it is a good time to buy, which it is. Merely a fact. I don't know why you don't seem to get that.
Your response is like going to the doctor and him telling you that he is pretty sure you have cancer, and you should probably get treatment, and you telling him that that you don't think it is at its worst yet, so you are going to wait for treatment.
We are proffessionalls that live and breathe in what is going on. And yes things are different in different regions, but I would like to ask you this.
What are the factors that you feel determines the time to buy?
Is it when there is more supply than we have ever seen in our lifetime?
Is it when interest rates are lower than have ever been documented?
Is it when sellers are doing everything they can to get rid of their homes, including dropping the prices so low they are losing money, and it is way below appraised value?
Is it when the government is giving you money to buy?
Well, I can't imagine those not being good signs, so I am saying it's a great time. I forgot my crystal ball at home though, so I can't tell you what will happen tomorrow. But maybe your cancer will be better tomorrow and you will be soooo glad you didn't get that treatment.
Rodney Monk
Dino,
In some areas you have seen more of an appreciation than others. We are talking broad brush about Austin though. Austin is like any other city in the country, where there are areas that do much better than others. There are several areas in Austin that are selling faster than almost anywhere in the country. Then you have others that are slower. For instance area 10S has an average of only 45 days on the market (WOW!). Yet downtown, which is an area most people would consider is doing well, is selling at an average of 119. And yes, it is possible some areas tripled in price, however this is not the norm throughout Austin. This is one reason why Austin is doing so well, we have had the average moderate appreciation in most areas. In turn others are seeing that this is a great place to be, and are coming by the droves. On top of that our job market is phenomenal. Add it all up, and yes this is a good market, and great place to buy.
In some areas you have seen more of an appreciation than others. We are talking broad brush about Austin though. Austin is like any other city in the country, where there are areas that do much better than others. There are several areas in Austin that are selling faster than almost anywhere in the country. Then you have others that are slower. For instance area 10S has an average of only 45 days on the market (WOW!). Yet downtown, which is an area most people would consider is doing well, is selling at an average of 119. And yes, it is possible some areas tripled in price, however this is not the norm throughout Austin. This is one reason why Austin is doing so well, we have had the average moderate appreciation in most areas. In turn others are seeing that this is a great place to be, and are coming by the droves. On top of that our job market is phenomenal. Add it all up, and yes this is a good market, and great place to buy.
Hey Paul,
I thought you might appreciate having this article recently published by Inman News. It gives a historical overview of the Austin real estate market over the last 8-10 years and what factors make the future of real estate in Austin continue to look so bright.
*************************
It's Back to the Future for Austin Real Estate!
Inman News
The serious downturn in housing sales in many parts of the country is well known. This downturn was preceded by a strong escalation in home prices. In many areas, prices rose beyond levels that were supported by local salaries and income. The driving force that fueled the growth in home prices was the availability of money. The easy availability of home buying money allowed the demand side of the market to build.
When buyers could expect 10%-30% appreciation and get 6% interest rates, who would not be motivated to buy? It's a no-brainer, right? Right. But, high demand leads to higher prices. And, high demand leads to more inventory, as builders respond to the need for homes.
The sources of money for mortgages came from new and unregulated sources. Prior to this, government regulated entities, such as Fannie Mae, were the main buyers of mortgages from lenders. Then, new Wall Street investors entered the market for buying real estate loans.
Alternative loans, interest-only loans, 100% loans, creative ARM's, no-documentation, and other high risk products became commonplace. Some of these loans began with a low interest rate that the borrower barely qualified for, and then switched to a higher rate after a short time. In many cases, the borrowers did not understand the risk that they were taking.
For most of my experience in real estate, buyers were limited to 80-90% loans, with 28% of their income allowed for mortgage payment, and their income was fully documented. When we began to see 100% financing on contracts, we were concerned by the buyer's lack of personal investment, or skin in the game, as they say. Loans such as these have an underlying expectation that the value of the home will increase quickly, and the buyers will be covered, if they need to sell.
Sub-prime, alternative, or high risk loans are not limited to low income buyers, and are not always predatory. Often, very sophisticated buyers elected to keep their cash and leverage more. On a large scale, the easy availability of money, through higher risk loans, fueled the growth of home ownership and investment in rental real estate. The demand for homes raised prices, and then raised inventories, as builders supplied more homes. Then the cycle was broken.
What caused the break? Foreclosures began to show up. Investors who bought mortgage backed securities realized that they contained more risk than they expected, and stopped buying them. Lenders lost the market for selling many of their loans. When home buying money dried up, demand for homes slowed down, and prices began to fall in many parts of the country.
Of course, real estate markets are local. Many areas will survive this much better. Fortunately, Austin is one of those areas. To be sure, we are experiencing the effects of the reduction in demand for homes, but it is not devastating. Why?
First, the Austin market has not had double digit appreciation during the past few years. During the years from 2001 to 2004, after the Dot.com bust, the market in Austin was somewhat soft. The median price rose by about 3.5% per year, on average.
From 2005 through 2007 our market tightened up, and we began to see very low inventory and strong demand, especially in the central areas. Throughout Austin, especially in suburban areas, builders produced inventory to keep up with demand. Overall, appreciation in Austin has been steady, but reasonable. Home prices have not risen excessively, and are not falling precipitously. Austin home prices are still in line with local salaries.
Second, the real estate market always reflects the job market. Approximately 20,000 new jobs were added during the past year. Our unemployment level is about 3.5%, a level that some would consider full employment. Retail outlets are opening at a fast clip-a result of widespread employment. New jobs are being created as companies move here and Austin companies expand. Jobs bring in people, and people buy homes.
It is true that the "new" restrictions on obtaining a mortgage will have a slowing effect on the Austin market. For the next year, we will see a more balanced market than we experienced in 2006 and 2007. Sellers will have to consider the fundamentals to attract a buyer. They will need competitive pricing, excellent presentation, and top level marketing. Buyers will have to have a down payment, good credit, and proper income for their loan.
So, it's back to the future for the Austin real estate market.
Let me know if you have any questions
I thought you might appreciate having this article recently published by Inman News. It gives a historical overview of the Austin real estate market over the last 8-10 years and what factors make the future of real estate in Austin continue to look so bright.
*************************
It's Back to the Future for Austin Real Estate!
Inman News
The serious downturn in housing sales in many parts of the country is well known. This downturn was preceded by a strong escalation in home prices. In many areas, prices rose beyond levels that were supported by local salaries and income. The driving force that fueled the growth in home prices was the availability of money. The easy availability of home buying money allowed the demand side of the market to build.
When buyers could expect 10%-30% appreciation and get 6% interest rates, who would not be motivated to buy? It's a no-brainer, right? Right. But, high demand leads to higher prices. And, high demand leads to more inventory, as builders respond to the need for homes.
The sources of money for mortgages came from new and unregulated sources. Prior to this, government regulated entities, such as Fannie Mae, were the main buyers of mortgages from lenders. Then, new Wall Street investors entered the market for buying real estate loans.
Alternative loans, interest-only loans, 100% loans, creative ARM's, no-documentation, and other high risk products became commonplace. Some of these loans began with a low interest rate that the borrower barely qualified for, and then switched to a higher rate after a short time. In many cases, the borrowers did not understand the risk that they were taking.
For most of my experience in real estate, buyers were limited to 80-90% loans, with 28% of their income allowed for mortgage payment, and their income was fully documented. When we began to see 100% financing on contracts, we were concerned by the buyer's lack of personal investment, or skin in the game, as they say. Loans such as these have an underlying expectation that the value of the home will increase quickly, and the buyers will be covered, if they need to sell.
Sub-prime, alternative, or high risk loans are not limited to low income buyers, and are not always predatory. Often, very sophisticated buyers elected to keep their cash and leverage more. On a large scale, the easy availability of money, through higher risk loans, fueled the growth of home ownership and investment in rental real estate. The demand for homes raised prices, and then raised inventories, as builders supplied more homes. Then the cycle was broken.
What caused the break? Foreclosures began to show up. Investors who bought mortgage backed securities realized that they contained more risk than they expected, and stopped buying them. Lenders lost the market for selling many of their loans. When home buying money dried up, demand for homes slowed down, and prices began to fall in many parts of the country.
Of course, real estate markets are local. Many areas will survive this much better. Fortunately, Austin is one of those areas. To be sure, we are experiencing the effects of the reduction in demand for homes, but it is not devastating. Why?
First, the Austin market has not had double digit appreciation during the past few years. During the years from 2001 to 2004, after the Dot.com bust, the market in Austin was somewhat soft. The median price rose by about 3.5% per year, on average.
From 2005 through 2007 our market tightened up, and we began to see very low inventory and strong demand, especially in the central areas. Throughout Austin, especially in suburban areas, builders produced inventory to keep up with demand. Overall, appreciation in Austin has been steady, but reasonable. Home prices have not risen excessively, and are not falling precipitously. Austin home prices are still in line with local salaries.
Second, the real estate market always reflects the job market. Approximately 20,000 new jobs were added during the past year. Our unemployment level is about 3.5%, a level that some would consider full employment. Retail outlets are opening at a fast clip-a result of widespread employment. New jobs are being created as companies move here and Austin companies expand. Jobs bring in people, and people buy homes.
It is true that the "new" restrictions on obtaining a mortgage will have a slowing effect on the Austin market. For the next year, we will see a more balanced market than we experienced in 2006 and 2007. Sellers will have to consider the fundamentals to attract a buyer. They will need competitive pricing, excellent presentation, and top level marketing. Buyers will have to have a down payment, good credit, and proper income for their loan.
So, it's back to the future for the Austin real estate market.
Let me know if you have any questions
Hey Paul,
Well for starters, right now is a great time to buy. There are record #'s of homes to choose from, and prices are great!!! As far as getting the cold feet, I can understand that, but buying a home is always a good investment, since you have to live somewhere, might as well be somewhere that you can get money back from one day. $7000 is a good # to judge from for down and closing. It is very common for sellers to contribute to closing costs/downpayments. Especiallly right now when sellers are a little more desperate to do what it takes to sell. FHA loans are changing alot right now, so it is important to get prequalified first, and get the real story up front. There are several downpayment assistance programs available right now, but will be going away after October 1st. If you have any other questions, feel free to contact me, and I would be glad to help you with them.
Well for starters, right now is a great time to buy. There are record #'s of homes to choose from, and prices are great!!! As far as getting the cold feet, I can understand that, but buying a home is always a good investment, since you have to live somewhere, might as well be somewhere that you can get money back from one day. $7000 is a good # to judge from for down and closing. It is very common for sellers to contribute to closing costs/downpayments. Especiallly right now when sellers are a little more desperate to do what it takes to sell. FHA loans are changing alot right now, so it is important to get prequalified first, and get the real story up front. There are several downpayment assistance programs available right now, but will be going away after October 1st. If you have any other questions, feel free to contact me, and I would be glad to help you with them.
Rodney Monk answered:
Hey Rob,
I wanted to further explain what I meant in the earlier post. A seller will actually see value in today's market in accepting a contingency contract. The reason is this. It is a strong buyers market right now (more than 6 months of inventory, low interest rates, low prices on home, LOTS of homes to choose from). Sellers are excited to even see traffic in their homes right now. So when you put any sort of offer right now, it will be of some interest to a seller. Furthermore, a contigency offer is not necessarily a bad thing to a seller. It actually gives them the power. If another buyer were to come along and make an offer on their home, they could still accept that buyers offer. So there is no reason why they would not be inclined to accept a contigency (a bird in the hand is worth 2 in the bush). For you, it does carry some downsides, mainly that you would probably put up some money for an option period, and if your offer was terminated, you would lose that money, but all in all, in this market, there is more of the possibility of your offer running its course(as I said in the earlier post), as we are seeing some homes on the market for years instead of months. You will continue to be confused as to what to do, until you speak with a REALTOR about what your home could possibly sell for, and what the timeframe could be, and what you would clear. That is why I mentioned you do that first.
Get all of your ducks in a row, see the actual potential(what you could do here, and in Dallas) then make up your mind. After all, to do all that, takes no more than a few minutes and its free.
I can do all this for you, just let me know how I can help.
Rodney Monk
512.524.6565
I wanted to further explain what I meant in the earlier post. A seller will actually see value in today's market in accepting a contingency contract. The reason is this. It is a strong buyers market right now (more than 6 months of inventory, low interest rates, low prices on home, LOTS of homes to choose from). Sellers are excited to even see traffic in their homes right now. So when you put any sort of offer right now, it will be of some interest to a seller. Furthermore, a contigency offer is not necessarily a bad thing to a seller. It actually gives them the power. If another buyer were to come along and make an offer on their home, they could still accept that buyers offer. So there is no reason why they would not be inclined to accept a contigency (a bird in the hand is worth 2 in the bush). For you, it does carry some downsides, mainly that you would probably put up some money for an option period, and if your offer was terminated, you would lose that money, but all in all, in this market, there is more of the possibility of your offer running its course(as I said in the earlier post), as we are seeing some homes on the market for years instead of months. You will continue to be confused as to what to do, until you speak with a REALTOR about what your home could possibly sell for, and what the timeframe could be, and what you would clear. That is why I mentioned you do that first.
Get all of your ducks in a row, see the actual potential(what you could do here, and in Dallas) then make up your mind. After all, to do all that, takes no more than a few minutes and its free.
I can do all this for you, just let me know how I can help.
Rodney Monk
512.524.6565
Well, bottom line Rob is this. Many people are still doing well with selling in this market. Quite honestly each situation is different. It is an excellent time to move up(understanding that is not your intent), but what I mean is it could actually benefit you. Without knowing all of the details of your home, I can say that it is possible in that timeframe of your ownership to maybe come out on top. Even if you broke even on the sell now, and it alleviated you of your monthly obligation, the fact is that your purchase in Dallas would more than make up for it(differred monthly payment, lower interest rate, more home for the dollar).
As far a buying with a contingency, that is not a bad idea. The truth is there are so many houses available right now, some sellers would be more apt to accept that offer, and the possibility of your offer on that home could actually come to term without another interested party. Either way, it is always best to try and sell first if you can. It's like I tell anyone wondering, you won't know unless we look into it.
I would be glad to speak with you via email, phone, or in person about your home, and give you a better understanding of where you are on the prospect of selling. Feel free to contact me.
Rodney Monk
As far a buying with a contingency, that is not a bad idea. The truth is there are so many houses available right now, some sellers would be more apt to accept that offer, and the possibility of your offer on that home could actually come to term without another interested party. Either way, it is always best to try and sell first if you can. It's like I tell anyone wondering, you won't know unless we look into it.
I would be glad to speak with you via email, phone, or in person about your home, and give you a better understanding of where you are on the prospect of selling. Feel free to contact me.
Rodney Monk
Rodney Monk answered:
Hi Sue,
I would say that it depends on what you like to do. You mentioned that you don't play golf or tennis, but what do you like to do? I would also of course ask in what price range. If you are not familiar with Austin, there is a large difference in price depending on where you are looking(closer to city or outskirts).
Also, Austin is unique in that you can live on the outskirts, and still be very close to a majority of the things to do in the area. If I can help, please feel free to contact me. Good luck in the future!
Rodney Monk
Central Texas Home And Land
Keller Williams
512.524.6565
I would say that it depends on what you like to do. You mentioned that you don't play golf or tennis, but what do you like to do? I would also of course ask in what price range. If you are not familiar with Austin, there is a large difference in price depending on where you are looking(closer to city or outskirts).
Also, Austin is unique in that you can live on the outskirts, and still be very close to a majority of the things to do in the area. If I can help, please feel free to contact me. Good luck in the future!
Rodney Monk
Central Texas Home And Land
Keller Williams
512.524.6565
Rodney Monk answered:
Hi Julie,
It is apparent that you are not working with a REALTOR. I would be glad to help you out, as this property IS still available. As a REALTOR I can help you get all the questions answered that you could have, and allow you to see the properties as well. Also, my services are free. Give me a call or shoot me an email, and I would be glad to tell you how else I can help. Oh yes, and the HOA is a Jeff said, $110/month.
Rodney Monk
Central Texas Home And Land
512.524.6565
RMonk@kw.com
It is apparent that you are not working with a REALTOR. I would be glad to help you out, as this property IS still available. As a REALTOR I can help you get all the questions answered that you could have, and allow you to see the properties as well. Also, my services are free. Give me a call or shoot me an email, and I would be glad to tell you how else I can help. Oh yes, and the HOA is a Jeff said, $110/month.
Rodney Monk
Central Texas Home And Land
512.524.6565
RMonk@kw.com
Rodney Monk answered:
Faith, I am not sure I understand your question. As a REALTOR I can get any info on the property in question you may have. Feel free to contact me if you have any specific questions.
My Blog Posts
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My Listings
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Specialties
I specialize in both Homes and Land. This is important because most Realtors only do one or the other. Land is something that unless you have experience, you can get into alot of trouble. There are alot of ins and outs that most Realtors don't even know to look for, or ask about for their clients. Rural areas can be a big problem for an inexperienced Realtor.
Also, I stay on top of the latest technology, which allows me to get more information and quicker, which in turn benefits my clients by having the upper hand on other buyers and sellers.
Also, I stay on top of the latest technology, which allows me to get more information and quicker, which in turn benefits my clients by having the upper hand on other buyers and sellers.
Experience
Latest:
REALTOR for Keller Williams
I have been a top producing agent with the SWMC Office at Keller Williams for the last 2 years. The office I am refferring to has been named the #1 Office in the World for 2005,2006, and 2007!!
August 2006—present
Certifications & Awards
Silver Award 2006
Silver Award 2007
Top 10 Realtors for Listings 2007
Silver Award 2007
Top 10 Realtors for Listings 2007
Interests
When I'm not selling real estate I spend time, Mountain Biking (about once a week), playing Softball ( I have 2 teams), Camping with the guys, working out, and just having family time with my wonderful wife and 4 year old son.
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