Category Archives: Home Selling

Austin Subdivision Spotlights

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market spotlight A list of  subdivisions in the greater Austin area and current real estate market data for them is featured below.  Active homes on the market are defined as units that do not have an accepted contract on them.    Active homes, as well as other data change constantly as houses in Austin enter and leave the market.   The data is subdivision specific and gives an overall snapshot of the price point and desire for that particular Austin market. There may be additional homes available for purchase in the general market area.

The data below is specific to single family homes.

Barton Hills (Zilker Park Area)

Number of Active Houses on the Market: 5

Average Days on Market: 39

Median List Price: $ 599,000

Circle C Ranch (Southwest Austin)

Number of Active Houses on the Market: 13

Average Days on Market: 38

Median List Price: $ 389,990

Hyde Park (Central Austin)

Number of Active Houses on the Market: 4

Average Days on Market: 91

Median List Price: $ 484,000

City of West Lake Hills

Number of Active Houses on the Market: 17

Average Days on Market: 129

Median List Price: $ 995,000

Shady Hollow (Southwest Austin)

Number of Active Houses on the Market: 7

Average Days on Market: 58

Median List Price: $ 344,900

Northwest Hills (North Central Austin)

Number of Active Houses on the Market: 7

Average Days on Market: 78

Median List Price: $ 729,000

Tarrytown (Central Austin)

Number of Active Houses on the Market: 13

Average Days on Market: 74

Median List Price: $ 970,000

Travis Heights (Central Austin)

Number of Active Houses on the Market: 6

Average Days on Market: 62

Median List Price: $ 774,475

Average Days on Market below 90 days are considered Seller’s markets, because homes are moving quickly. Neighborhoods with homes on the market between 3 and 6 months are considered neutral.

 

1415 Laurel Glen Boulevard For Sale

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White stone front single story beauty features professionally landscaped front and backyard with nice tree canopy, white stone wood burning fireplace in living, laminate and tile flooring throughout with large closets. Nice floor plan with master bedroom suite separate from secondary bedrooms. One bedroom could double as a study. Updates include: double-hung windows, tile bathtub surround, French glass back door, garage doors, kitchen counters and stainless steel sink. Large deck with storage shed in the backyard.  Close to Pleasant Hill Elementary

1415 Laurel Glen Boulevard, Leander Texas 78641

  • 1,377 square feet (per tax record)
  • 3 bedrooms
  • 2 baths
  • Single Story
  • 2 car garage
  • no carpet
  • Fireplace
  • Year built 1986

Oak Ridge Subdivision in Leander

1415 Laurel Glen Boulevard is located in the Oak Ridge subdivision.  Oak Ridge features a community pool, playground, tennis and sports court.

1415 Laurel Glen Blvd. is a home for sale in Leander, Texas

 

 

 

Austin Real Estate Market a challenge for Contingency Offers

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money houseI had a buyer call and ask how strong a contingency offer is perceived in the Austin real estate market. What makes an offer a contingency is an addendum that is attached to a contract. The contingency addendum defines certain timelines and deadlines that a seller and buyer agree to. A contingency addendum is used when a buyer needs to make a purchase contingent on the sale of their existing home. A contingency addendum is used to protect the buyer’s earnest money in the new contract.

Anything can happen when a home goes under contract, from a buyer simply changing their mind during the option period to an underwriter denying a loan. A contingency eliminates some of the risk for the buyer by protecting the earnest money on the home they want to purchase.

Buying a Home in Austin with a Contingency can be a Challenge

Contingencies don’t eliminate all for the risk the buyer. The addendum typically has a deadline for releasing the contingency if the seller has another offer they wish to accept. The deadline is typically 3 days. If the buyer is not secure enough that the contract to purchase their existing home is going to move forward, they may not be comfortable releasing the contingency. The earnest money would be at risk and the buyer would be in default if they can’t close.

If the buyer does not release the contingency, their contract terminates. The good news is that they get their earnest money back – the bad news is that they no longer have a house.

Active and Active Contingent listings in the Austin Multiple Listing Service

For the seller, accepting a contingency offer may seem like a win-win because they can accept another offer – but there is a catch. When a seller accepts one, the status in the Austin Multiple Listing Service changes to AC, instead of A for Active. AC statuses appear at the bottom of buyer’s home searches and often get less traffic. Right now in Austin, with so many homes going into multiple offers in the greater Austin area, it is hard for contingency buyers to compete due to the risk of never making it to the finish line.

Austin is Hot

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hot earthAustin is hot and I’m not just talking about the weather.  Austin’s growth is outpacing the supply of homes in inventory which is making it a competitive market to buy and even rent in.  Over 25,000 people moved to Austin between July 2011 and July 2012, according to the U.S. Census Bureau.  The growth moved Austin’s ranking of the nation’s largest cities from the 13th spot to number 11.

Austin Real Estate Market sees more new construction

Austin is expecting to 27,000 people moving into town each year for the next 3 years.  The Austin Board of Realtors has reported a 32% increase year-over-year in new home construction in the second quarter of this year.

Pool Season

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PoolSwimming pools: the instant source for entertainment, relaxation and exercise. They provide a backyard retreat and a tranquil view that is a luxury marker some buyers dream about having. For those buyers who want a pool, houses with them are much easier to sell. Forget the condition of the house– that oasis in the backyard, especially on a hot day kind of sells itself, doesn’t it?

Pools can be more of a hindrance than a help. Not everyone wants a pool. In fact, I would say 70% of people don’t. Pools cost money and time to maintain. In addition, there are safety concerns for people with small children and pets. They can also take up a lot of yard space.

Swimming Pool Tips for both Buyers and Sellers

Swimming Pool Owners
•Maintain and update your pool. Nobody wants to buy a money pit (literally).
•If you can afford switch to saline — do it, it is a selling feature.
•If you own in a subdivision where most homes have a private pool…buyers will be comparing your ‘pool’ appeal.
•Make sure the pool area looks clean, maintained and inviting.

Buying a Home with a pool
•A general inspector will not inspect a pool, but many pool companies do. Have a pool inspection – they can be costly to fix.
•If you want to know how much it costs to maintain a pool including what you will spend on chemicals, electric and water — the answer is — you don’t want a pool! They can be costly, and if you are already watching your budget — a pool is going to blow it.
•Remember, pools limit your potential number of buyers, so they can take longer to sell when the time comes.

As someone who grew up having a pool, I understand the appeal of having one from a lifestyle perspective. My experience is that they are great for moments in time. You will spend more time staring at a pool during your ownership, then you will spend in it. If you have a pool, don’t let it become another 4-letter word make sure it shines because it can make or break a sale.

Pools in Austin

Austin Texas has a variety of options for people who want to enjoy a pool, but don’t want to maintain one. Many planned single family home communities in Austin have pools that are included with HOA fees or may require a nominal additional fee. Condominium communities in Austin often have a private pool as well for residents. An automated home search can be customized to only include properties with community with pools.

There are many public pools in Austin as well. There are 27 neighborhood pools and 6 municipal pools in total. The most well known pool is Barton Springs, located in Zilker Park. Centrally located in the neighborhood of Barton Hills, Barton Springs Pool is spring fed, just over 900 feet long and maintains a consistent temperature of 68 degrees year round.

Curb Appeal

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Mather RoadIt’s Showtime! That’s what I tell sellers when we go live with their Austin real estate on the Austin Multiple Listing Service, Realtor.com, Austinhomesearch.com and about 100 more websites.  Showtime for one of my Austin listings generally includes a sign in the yard with a text rider for color pictures and data.  Before the marketing begins, the outside work need to be finished because the exterior of the house will set the stage for what’s inside.

A showing starts at the street

Listing appointments are more than just about the paperwork, market data and pricing.  I tour the home with a buyer’s eyes pointing out things along the way that have often been there for so long the owner doesn’t even see them anymore.  My suggestions start from the street, not inside the house.  I tell sellers all of the time that I want the house to look ‘light, bright and happy.’ I want people to feel good when they visit one of my listings from the moment they pull up to the house.  Whether a potential buyer is just driving home from work or a buyer’s agent is showing a property, the goal is to get the buyer to come inside because they want to see more.

Add curb appeal to your Austin home

Here are some tips to get your home show ready or maybe just a little happier:

  • Replace dead plants with flowers
  • Store garage and recycling containers on the side of the house or in the garage.  Not only does this increase curb appeal, it also aids in parking in front of the house.
  • Put the garden hose away when not in use.  Buyers don’t want to be walking over it to get to the front door.
  • Paint your mail box and door knocker (if rusting) with some metallic paint.
  • Replace the door mat.
  • Hose off the front of the house (you can power wash but just be prepared to paint)
  • Clean the gutters
  • Rake and sweep dead leaves

Added Steps Austin Buyers Appreciate

Want to go the extra mile?  Most home buyers would like to have a green thumb, but not everyone does.  Buyers do appreciate and see the appeal when home owners go the extra mile and plant drought resistant plants.  With water restrictions already in place throughout most of Central Texas, using native plants and grasses that are heat and drought tolerant shows a buyer that the owner was thinking ahead.  Buyers will know they won’t be replanting plants in a year or won’t need to water excessively.

Curb appeal can make all of the difference in getting a buyer inside a house and getting it sold.

Just Sold in Barton Hills

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1304 Robert E LeeJust sold, 1304 Robert E Lee Road in Barton Hills offers nearly 3,000 square feet of living space in this 2-story duplex.  Side A has 3 bedrooms, 2 1/2 baths and a loft space, with the master located on the main floor.  Side B features 3 bedrooms and 2 1/2 baths with the master on the second floor.  Each side of the duplex has it’s own private outdoor yard space, a wood burning fireplace, separate utility closets and carport space.

1304 Robert E Lee Road, Austin, TX 78704

1304 Robert E lee Road was an attractive investment property due to it’s hot 78704 location.  The zip code 78704 in Austin is the home of Zilker Park, Barton Springs Restaurant Row, South Congress Avenue in the SoCo District, the Town Lake Hike & Bike Trail, Lady Bird Lake, the SoLa District on South Lamar and the SoFi District on South First.

Barton Hills, Austin 78704

1304 Robert E Lee Road is very close to Barton Springs Pool, Zilker Park and the Umlauf Sculpture Garden.  This Luxury location is convenient when Austin’s local festivals like the Zilker Park Kite Festival, SXSW and the Austin City Limits Music Festival are taking place.