Category Archives: Home Selling

Austin Real Estate Spotlights

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I have selected random subdivisions in Austin Texas real estate market areas and listed current data on active listings. The data is subdivision specific, so there may be additional homes available for purchase in the neighborhood.  Average Days on Market below 90 days are considered Seller’s markets, because homes are moving quickly.  Austin neighborhoods with homes on the market between 3 and 6 months are considered neutral.

Real Estate Austin

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

Barton Hills (Zilker Park Area)

Number of Active Houses on the Market: 2

Average Days on Market: 37

Median List Price: $ 444,450

Circle C Ranch (Southwest Austin)

Number of Active Houses on the Market: 24

Average Days on Market: 50

Median List Price: $ 359,450

Hyde Park (Central Austin)

Number of Active Houses on the Market: 7

Average Days on Market: 95

Median List Price: $ 549,000

City of West Lake Hills

Number of Active Houses on the Market: 18

Average Days on Market: 196

Median List Price: $ 1,224,925

Jester (North Austin)

Number of Active Houses on the Market: 4

Average Days on Market: 88

Median List Price: $ 475,250

Northwest Hills (North Central Austin)

Number of Active Houses on the Market: 11

Average Days on Market: 164

Median List Price: $ 675,000

Tarrytown (Central Austin)

Number of Active Houses on the Market: 14

Average Days on Market: 119

Median List Price: $ 1,049,750

Travis Heights (Central Austin)

Number of Active Houses on the Market: 11

Average Days on Market: 104

Median List Price: $  599,000

Vacation is Over

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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

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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

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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.

The Heat is On

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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.

Get Ready…Get Set…Then Buy

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I showed a house about a week ago that had 20 back-up offers on it.  Yes, it was a foreclosure, but still that was kind of crazy.  Other Austin homes I have showed this week have gone under contract the same day they hit the market.  My advice?  Just know what your limits are in terms of what you want to spend.  Make sure you know that the estimated monthly payment is in your comfort zone and have a pre-approval in your hand from a lender.  In addition, know who you are going to call for an inspection.  There is no need to wait until you find a house to know who you are going to call.  In this market, there is no time to get pre-approved when you find a house. 

Click Here to Search for Austin Waterfront Properties

So, what do you do when you have lost out on a few houses because they are already under contract before you get of the gate?  Don’t panic.  You’ll find the house that’s right for you, so don’t settle on something because you start to feel a little desperate.  You have to listen to your gut and not talk yourself into something.  As long as you are realistic in terms of what your buying power will get you, there is no need to settle.  Buying a house is the most expensive thing you will buy, so if it takes you an extra 3 months to find the perfect fit – take it.

Click Here to Search for All Properties or Contact Me to make a custom home search
 
Buying a house in this market is kind of like speed dating.  You have little time to decide if the house is a good fit for you. If the house doesn’t have any of the items on your must-have’s list…then move on.  There are more fish in the sea and there are more houses too.  You don’t get married unless you’re in love and I sort of want you to be in love with the house too or at least really like it.

Click Here to Search only Luxury Properties

Moving to Austin

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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