Tag Archives: Austin Real Estate Market

Austin City Limits Music Festival Real Estate Recap

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Austin City Limits Music FestivalThe Austin City Limits Music Festival has come and gone for 2014 leaving a large boost for Austin’s economy in its wake. Headliners including Outcast, Eminem and Pearl Jam contributed to both 3-day weekends selling out to roughly 75,000 visitors per day. The estimated total in revenue was $175 million for Austin in 2013.

Much of the economic contribution is from out of town guests visiting and staying in Austin for the festival. Roughly sixty-six percent of ACL festival attendees are from out of town and spend an average of nearly $900 per day on food, lodging and retail.

For attendees curious to know what homes are worth near the Austin City Limits Music Festival, below lists up-to-date market data specific to real estate for sale located within 1 mile of Zilker Park:

Austin Condominiums for Sale near Zilker Park:

  • Current Number of Active Homes: 23
  • Total Number of Pending and Active homes: 31
  • Average List Price: $487,884

Austin Single Family Houses for Sale near Zilker Park:

  • Current Number of Active Homes: 14
  • Total Number of Pending and Active homes: 25
  • Average List Price: $1,465,393

Other Zilker Park events include the Zilker Kite Festival, Blues on the Green and the Zilker Trail of Lights lending it to be a source of  consistent entertainment year round.  Homes located near Zilker Park are considered prime real estate and are consistently low in supply and high in demand.

731 Minturn Lane Open House

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731 MinturnSouth Austin, single story home in the subdivision of Buckingham Estates features 3 bedrooms and 2 baths with MIL  plan. 731 Minturn Lane is located Austin’s 78748 zip code near Southpark Meadows and Mary Moore Searight Park.

731 Minturn Lane For Sale in Buckingham Estates

Three sides masonry and vinyl siding. Kitchen open to family room. Updates include recent paint and tile flooring. Formal dining and spacious living area with laminate flooring. Carpet flooring is only in the bedrooms. Spa like master bath features recent tile, paint, fixtures, double vanity, garden tub and separate shower.

South Austin Open House

731 Minturn Lane is open Saturday, October 11th from 12:00 – 3:00pm

  • Number of Stories 1
    Square Footage 1,532 (tax record)
    Number of Living 1
    Number of Bedrooms 3
    Number of Bathrooms 2

Austin is Growing Up and Growing Out

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construction picAustin is experiencing growing pains. It is hard to turn a corner right now and not experience a construction zone, road closure or at best, a wall of traffic. Texas overall has had a net gain in new residents for several years now and within it, Austin is one of the top cities showing the fastest growth.

Austin by the Numbers

Reports show that the number for increased residents in Austin for 2014 nets at 110 per day. The growth for Austin started surging years ago, but the infrastructure never had a chance to keep pace and is now playing catch up. As residents, we have experienced this in commuting times and all the way down to line for groceries.

With all of this change in the air, Austinites are forced to face a new normal. Austin is literally growing up. Mixed-use office, hotels and apartments buildings are under construction or in the planning stages throughout Austin. Over 17,000 apartment units alone were under construction or planned as of April 2014.

Austin Real Estate Trending Now

One real estate market trend has been in the greater Austin area, which is very hot right now and where I am seeing most of the growth. Now buyers are looking and buying in Cedar Park, Georgetown and Leander because the core of Austin has become less affordable for many.

Another trend is in new construction. New communities are popping up or expanding. People are out with the old and in with the new.

The largest real estate trend I see in Austin is in market area searches. As the Austin area inventory is low, buyers are expanding their search area. It used to be that I had a search set up for someone just in one subdivision like Travis Heights. That buyer today, would be looking in the greater Central Austin area just to have the same selection of homes.

Fall trends as summer ends

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sunMother nature has been consistently reminding us that, although Fall is just around the corner, Summer is still very much here. Central Texas has had some of its hottest days in the last 2 weeks testing the limits of our sanity, sun screen and even our air conditioners.

Austin goes back to school

Although Austin real estate has not really slowed down, I expect the next two weeks to be a little slow as people transition back into their fall schedules. With summer vacations winding down, students settling back into school and commuting times needing some adjustment – the market may soften just a bit as everyone takes a bit of a breather.

Buying a home in Austin

What am I seeing out there? Investors are shopping in full force.  We had over 10 showings on the Hyde Park duplex listing in  and got it under contract in a week.  July was a crazy month for showings for buyers with small children who were eager to get their kids settled for school on time. August was spent trying to get everyone settled in time for Fall. Let’s see what September brings.

Where are you going?

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When I go on a listing appointment my first question is to ask where the owners are planning to go when their house sells. If plan A is to buy another home, we still need a backup plan.

Buy a Home in Austin

Contracts contingent on the sale of a current property are not desirable in current Central Texas real estate market because there are plenty of buyers to come by. If a seller is getting decent traffic on a home they are going to be less likely to accept an offer that may never close if proceeds are needed from the sale of the buyer’s current home. It is considered a house of cards and a risk in any market.

Selling Austin Homes

A seller is most likely not going to even consider a contingency offer if the buyer’s current home is not under contract. A potential seller can’t really have a specific house in mind to purchase until they are under contract with their current house and the desired house they want to buy may not be available when they do. Having a plan A, a plan B and even a plan C will alleviate some stress because the decisions will already be made.

The plan B alternative may include an extended stay hotel, renting a storage facility or converting to a month-to-month when a lease is involved. It may even mean staying with family (that’s typically plan z).

There is stress considering a plan B, because nobody wants to go there, but there is more stress when you don’t have one so it’s better to have a backup plan.

711 E 50th Street, Austin TX 78751

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711 E 50th Street

711 E 50th Street

Hyde Park duplex listing in Central Austin. It is conveniently located between The Triangle and Mueller, just 3 miles North of UT. The floor plan and location may appeal to owner occupant, mother-daughter or roommates.

Hyde Park Location

Both units feature hardwood floors, with separate utilities for gas and electric. Each unit has its own utility room washers and dryers. The property is set on a large lot and tree-lined street. Unit A is a 2 bedroom / 2 bath, unit B is a 1 bedroom 1 bath. The house was built in 1950. It is 1,789 square feet (appraiser).

  • Single Story
  • Space for multiple car parking
  • Storage sheds convey
  • Refrigerators, washers and dyers convey
  • List Price:  $415,000

Beat the Texas Heat

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hot earthSummer is here and if a house is vacant the air conditioner may not necessarily be on. At 5pm in Texas, we are basically walking into a pizza oven when viewing an unairconditioned home. If buyers have flexibility in their schedule, it is often best to go earlier in the day. It is cooler out which keeps spirits high and makes the process more enjoyable for all.

Showing Houses in Austin

I often say the only fun part in the home buying process is looking at homes, so when you take that away, it’s a little less joyful. Not everyone has the flexibility in their schedules to get out early. Most people work from 9-5pm at least during the week, but even if buyers can see some possibilities earlier on the weekend and keep the must-sees for during the week -it can help.

Home Viewing Tips

Inventory in Austin is low and so I have buyers constantly making concessions in terms of their criteria in order to find a good fit. Sometimes they wind up with 10 homes they would like to see, but within that list there is typically 3 homes they really want to see. Those are the homes I want to define and show first even if it is 100 degrees out or at 6pm in the evening. We save the rest of the list because more often than not, the rest are homes the buyer is talking themselves into, which we will ultimately talk ourselves out of.

We often refer to cooler heads prevailing in an emotional sense, but in Texas the term is just as applicable with the temperature outside. The more comfortable the buyer is, the more focused they will be to choose the right house.