Category Archives: Listings

Austin 78704 Condos

Posted on by

I have been showing many condos lately in and around Austin’s popular 78704 zip code.  78704 condos offer the benefit of living 2 miles or less from downtown Austin, without paying downtown real estate market price tag.  Home of the SoCo, SoLa, and SoFi districts, 78704 provides a variety of unique urban conveniences filled with boutiques, restaurants and entertainment venues.  Outdoor lovers enjoy Austin’s largest playground Zilker Park right in their backyard, along with additional parks that provide plenty of hiking, biking and other recreational opportunities. 

Austin 78704 Condos

Austin’s 78704 Condominiums come in a variety of price points which suit the needs of people who seek the convenience of an urban lifestyle.  Commuters find access to I-35, Mopac and Ben White very easy.  St. Edwards University is also in 78704, so students and parents often find it more cost effective to buy a little condo than live on campus.  78704 Condos come in all sizes, in as little as about 400 square feet.  The smaller condos often make for an affordable apartment alternative. 

One thing to be mindful of with condos is that they need to be FHA approved in order to be an option for buyers seeking an FHA loan.  FHA tends to only grant loans to condos and houses in good condition that meet certain building guidelines.  FHA loans are popular because they require less money down than a conventional loan, so they are often the only option for buyers with little to put down.  Non FHA approved condos can be an advantage for buyers who have enough funds to go the conventional loan route.   There is less of a buyer pool when a house and more often a condo is not FHA approved, because not all buyers can qualify. 

Search for an Austin 78704 Condo

View 78704 condos here.

I have many pages written for specific communities, with more to come. I can also set up a custom search if you have specific criteria.

The Heat is On

Posted on by

It’s hot out there and I’m not just talking about the weather.  Consistently low interest rates coupled with increases in rent payments have led more buyers to enter the Austin housing market. The main factor that limits a tenant from being a homeowner is the down payment.   There is not always a big difference between a monthly rent payment and a mortgage payment.   So, with some money in their pocket,  I am seeing more and more first time home buyers enter the Austin real estate market who were happy to be tenants 2 years ago.

Austin Real Estate Market

Low interest rates have given people buying power and motivation to be homeowners.  The influx of first time home buyers purchasing lower priced homes has led to very low inventory.   It is the low inventory that has driven Austin home sales into a seller’s market and as a result of that – prices have increased in all price points.

Austin Real Estate Home Seach
Buyers and Sellers need to tread very carefully over the next two months as market data catches up with the shift into a seller’s market.  Multiple offers are being driven by lack of inventory.  Lack of inventory is leading buyers to offer more than list price.  List price and even over list price is leading properties to not appraise because appraisals are based on sold comparables and sales history have not caught to today’s prices.  This will settle out in a couple of months, as the sales history starts to reflect today’s market.  If the house does not appraise though, a buyer is not going to get a loan.

Buying an Austin Home

Buyers are not looking at things with the same set of eyes they were years ago.  Buyers are now recessionistas.  They understand this may not be the market for a deal, but they do care.  That means seller’s still need to show pride of ownership.  The house should still be spotless, the yard should still be mowed and all systems should still be maintained.  Sellers who do not show their homes in the best possible light, will find their house needs to be priced at a deal or it may not sell at all, just like any market.  Buyers don’t mind paying what a house is worth to them, but it needs to be worth it.

Supply and Demand

Posted on by

We are officially in a Seller’s market.  Typical time on the market is less than 90 days (3 months).  Prices are inching up because the demand for housing is rising in the area and the available inventory is down considerably from last year.

Search for an Austin Home
Apartment hunters are even finding it harder to find a place to rent.  Leases are typically annual whether it is an apartment, duplex or house, so expect rent to increase when it is time to re-lease.  Tenants need to always consider this when they are thinking about transitioning into becoming ‘buyers’.  With a mortgage, your monthly payment is fixed for the life of the loan.  Sure taxes go up, but you generally have an idea what you are paying.  The one thing that inhibits a tenant from becoming a buyer…is the down payment and closing costs. Closing costs can be negotiated a bit with the seller, but you do need some money to put down.

Austin Luxury Home Search
Austin was recently names the top city in the U.S. for job creation and people are moving here (1,500 per day to Texas).  If you are thinking about putting your home on the market now is the time.

Moving to Austin

Posted on by

Moving to Austin? I have selected randam subdivisions in the greater Austin area and listed some current real estate market data. Average Days on Market below 3 months are considered Seller’s markets, because homes are moving quickly. Neighborhoods with homes on the market between 3 and 6 months are considered neutral. As you can see, the Austin Real Estate market is very strong. Buyers are moving to Austin and with interest rates still low…buyers are moving within Austin.

Moving to Austin?
The data below is specific to single family homes. If there is an area you want me to spotlight -please let me know.

Tarry Town (Central Austin)
Number of Active Houses on the Market: 16
Average Days on Market: 80
Median List Price: $ 797,000

Legend Oaks (Southwest Austin)
Number of Active Houses on the Market: 8
Average Days on Market: 52
Median List Price: $ 291,725

Plum Creek (Kyle)
Number of Active Houses on the Market: 37
Average Days on Market: 41
Median List Price: $ 171,827

Great Hills (Northwest Austin)
Number of Active Houses on the Market: 25
Average Days on Market: 51
Median List Price: $ 495,126

Pemberton Heights (Central Austin)
Number of Active Houses on the Market: 6
Average Days on Market: 120
Median List Price: $ 1,687,500

Circle C Ranch (Southwest Austin)
Number of Active Houses on the Market: 22
Average Days on Market: 43
Median List Price: $ 352,400

Downtown Condos (Central Austin)
Number of Active Houses on the Market: 102
Average Days on Market: 82
Median List Price: $ 455,500

Travis Heights (Central Austin)
Number of Active Houses on the Market: 12
Average Days on Market: 64
Median List Price: $ 694,700

The 7 Year Itch

Posted on by

I often get asked by buyers first starting their Austin Home Search whether they should buy a home with a master upstairs with the rest of the bedrooms or on the main level.  The answer lies in the buyer based on where he is in his own individual timeline.  Sure, there comes a point when you may not want to be on the same floor as the kids – or maybe even in-laws.  On the flip side, buyers who are just starting to plan to have kids or have young children often prefer to be on the same floor.  The boogie man typically doesn’t make a presence until about 2am, so parents often want to be nearby to deal with late night trouble shooting without being a flight of stairs away. 

Search Listings for Homes for Sale in the Austin MLS

A Custom Home Search for Austin MLS listings can be created to search for homes with the master on the first floor or upstairs only.

Sure, a master on the main level can be helpful in the later years, when the kids are gone and the steps become cumbersome.  Understand, though, as much as we think this is going to be the last house we will ever buy – this little thing called life often gets in the way, which leads to a move. 

What my clients are often concerned about when purchasing a home with the master up is how that might affect re-sale.  What is important to remember is that buyers more often than not, reflect the seller at a given moment in time and that is when they are shopping for a home.  When you are selling the buyer is going to choose your home, for the same reasons you decided to buy it.  Also, there are many neighborhoods where is master is always up, just because that was the trend at the time.  So, in certain neighborhoods – that is the design you are going to be choosing from regardless.

 
My advise – choose a house that is going to work with your lifestyle for the next 7 years.  If you stay in it longer – great, but after 7 years you generally start getting the itch to move or need to move.  If we all had crystal balls the world would be a much different place.

7405 Teak Cove in Jester Point Open House Sunday 1 to 4

Posted on by

7405-teak-cove-living-room-viewVisit on Sunday, April 22nd at 7405 Teak Cove, Austin Texas 78750.  7405 Teak Cove is located in the Northwest Austin subdivision of Jester Point in the Jester Neighborhood.  Jester is nestled between 2222 to the South and the Capital of Texas Highway to the East.  Jester is located about 15 miles north of downtown Austin and about 3 miles south of the popular Arboretum shopping area.  For local fun, residents can join the Jester Club which offers access to a swimming pool, tennis, playground, and picnic area.   Nature lovers enjoy the convenience of the neighboring 48 acre Bull Creek Park and nearby St. Edward’s Park.
 
7405 Teak Cove in Jester Point offers 4 bedrooms, 2 living areas and a 3-car garage.  At 3,080 square feet (tax records) the floor plan features the master bedroom on the main level, with an office/TV/4th bedroom on the main level, a formal dining and living room, with a large gourmet eat in kitchen.  7405 Teak Cove has many upgrades and energy efficient features.
 
For more information visit my 7405 Teak Cove webpage.
 
Visit Sunday from 1 – 4.
 
Directions:    Go west on 2222 to Jester Blvd, Right on Teak Cove or 360 to Lakewood Drive, Left on Beauford, Right on Jester Blvd, Right on Teak Cove

A picture is worth 1,000 words

Posted on by

The old adage “a picture is worth a thousand words” is no truer than referring to marketing properties for sale in Austin.  If an agent gives no written description about a property, but offers great pictures – buyers will come in droves.  On the flip-side, if an amazing story about a house is advertised, but with no pictures, people will question the validity of the story.  The more pictures that can be shown to market a property – the better.  I’m sure you have seen listings that only show the front of the house.  The instant question that comes to mind is: what’s wrong with the inside?   The only time that it is customary to only show the outside of a house is when you have a tenant living in it.

Austin Real Estate Listings

I typically hire a professional photographer to take pictures of my Austin Real Estate listings.  There are times that I utilize photos in magazines and brochures, in addition to on-line marketing.  The benefit to using a photographer is that the pictures are taken at such a high resolution that they translate well for any medium I choose.  Great pictures are also crisp, making rooms look very clean.  How many pictures have you seen that show the corner of room?  Professionals use a wide angle lens which helps capture rooms better.   If you want to see my latest listing at 7405 Teak Cove, Austin TX 78750 in Jester Point, follow the link.