Vacation is Over

I went to the East Coast to visit some family and friends.  Though I was only 20 minutes from the hustle and bustle of New York City, the area I grew up in still has many unemployed and houses are certainly not selling the way they are here.  Let’s be grateful and thankful that overall Austin has a strong stable economy. 

Last week was a big vacation and shopping week as people started to prepare for the new school year.  I do have a new listing in Sendera at 9432 Collazo Way, which is in South Austin and very close to the new Alamo Drafthouse on Slaughter.  I’ve also been working in Austin’s popular Central zip code 78704 lately for a condo buyer and an investor seeking a duplex.  For a change of pace, I sold a house in Buda to a repeat client and her husband in the community of Leisurewoods.  We looked at homes for about 2 years before we found the right house.

Austin Vacation Home Rentals

Last week, the City of Austin finally adopted an ordinance to put some controls in place regarding Austin vacation home rentals.  Vacation home rentals are very popular in areas of Austin like Barton Hills and Travis Heights because of the close proximity to local Austin attractions like Downtown, South Congress Ave and Zilker Park.  Vacation home rentals are the ideal alternative to staying in a hotel because they provide an added level of warmth and comfort and are often closer to an Austin attraction.  As the popularity of vacation home rentals increase, so do the problems associated with it simply by the fast overturn of the tenants renting these properties.  Noisy vacationers have become cumbersome for certain communites in Austin, so having an ordinance will allow the City to control the inventory of properties and impose a tax on them as well.

Austin Short Term Rental Rules

  • All short-term rental properties are required to be registered with the City of Austin.
  • Upon registration, all STRs must demonstrate certificate of occupancy or proof of inspection.
  • No more than 3% of single-family residences may be used as a non-owner occupied STR in a census track.
  • A packet containing viable community information must be shared with the tenant.
  • Short-term leases pertaining to home sales/closing terms (leasebacks) will not be affected by this ordinance.

Austin Investment Homes

The market is hot right now for Austin investment properites. Leases prices are in some areas 20% or more than last year. Purchasing an investment property whether single or multi-family property will typically have a slightly higher interest rate and a larger downpayment. With Austin inventory down, rents have increased making this a strong market for investors.

9432 Collazo Way Sendera

9432 Collazo Way, Austin Texas 78749

9432 Collazo Way is a single story home for sale located South Austin, in the neighborhood of Sendera. Features white brick on 3-sides set large lot with trees providing shade in front and back yard including oak and a pear tree. Nice floorplan with master facing backyard and set separate from three secondary bedrooms.

Large living area painted and carpet in secondary bedrooms replaced 7 months ago. Sprawling Travertine Tile in main living areas and common bath. Master bedroom is tiled and features double vanity in master bathroom Fireplace in living room. Vaulted ceilings. Covered patio with large fenced backyard. Bowie High School area. Easy access to major raodways with retail nearby.

9432 Collazo Way features 4 bedrooms, 2 full baths, dining area off kitchen with open floor plan into living area. Per the tax records, 9432 Collazo Way offers 1,560 square feet of living space, an attached 2-car garage on a .26 acre lot.

Directions to From Mopac South, L on Slaughter, L on Bemner, L on Collazo, 9432 Collazo Way is on the Left hand side.

UT Condos and Central Austin Highlights

The University of Texas is predicting 8,000 freshmen to enroll this year, which would be the largest in 10 years. If the prediction becomes reality there will be roughly 51,500 students enrolled, which would be with largest in UT’s history. Freshmen enrollment is trending to have 900 more students than last year. Although the largest, UT is not the only university in Austin. Other universities like St. Edwards may be seeing an increase in admission as well. The increased student population will affect real estate in a number of ways.

UT Condos

People come from all over the country to attend the University of Texas and other schools in Austin. While most students will initially take advantage of on campus housing, many will ultimately move to nearby condos. Many students with the help of their parents find that purchasing a condo makes more sense than leasing. Whether students lease or purchase through their college years, many offer decide to stay and make Austin their permanent home. With Austin’s outstanding scholastic reputation, constant influx of new business and healthy playful atmosphere, it is easy to see why people don’t want to leave.

Central Austin Real Estate

The real estate market is certainly healthy. Days on market are very low, which means things are selling quickly. I’ve been spending much of my time in the last 2 weeks in Buda and Central Austin. I have clients who get a hit on their custom home search every 2 weeks and I have others who are getting a few new homes per day to look at. In more urban areas the odds are greater in having more hits, but that doesn’t mean they are spending more time on the market. Central Austin is always desirable simply because of its easy accessibility to everything. It doesn’t matter if it’s a condo or a house. As long as it’s priced for what it is – it will sell. If it’s not priced right, it will miss its market because it’s going to look very expensive based on the other homes those buyers are looking at.  Here are some of the homes and condos I’ve seen recently.