Your Austin Sweet Austin Home

Time to say goodbye to the old real estate market in Austin, Texas

 

You know how a roller coaster is pretty much always going up or down? Well, it's the same with the real estate market. It's always either going up in favor of sellers or down in favor of buyers. For a brief moment, it is balanced between the two.

For the past year or so, Austin's sellers have enjoyed the hottest seller's market ever. There was so little inventory that, in some neighborhoods, they barely had to do more than clean the toilets and there would be a line of buyers outside their door. And the list price was just the starting bid. 

Buyers struggled to move fast enough or bid high enough to secure a home for themselves. Many just gave up. 

But they have reason to hope! It appears we have reached the highest point on this coaster and are headed back downhill.

The chart below, provided by Texas National Title, provides the proof...

1.Inventory is rising in all three counties in the Austin area.

2. Closings are up a little in Travis County but down in Williamson and Hays. These would be properties that went under contract in May, when interest rates were still pretty low, inventory started picking up, gas was affordable, etc. 

3. Pendings (contracts) went down last week in all counties, despite more listings. Buyers can get picky and take their time again. 

4. Price decreases ramped up in all three counties. The reality of the new market is hitting sellers and their agents. 

5. Expireds and withdrawns are picking up, especially in Travis County. These are most likely sellers who decided they could and would stay put if they couldn't get a huge profit for their property. Or they may have blamed their Realtor and fired them, hoping someone else could 'get the job done'. 

Unfortunately, neither sellers nor their agents really determine the price for a property. The market does. In this kind of market, a Realtor looks at the numbers/rates/trends for similar homes, especially the competition, and helps the seller come up with a price that doesn't 'sell' the other homes.

Buyers are savvy. If they can find what they need for less, why would they pay more? And with days on market increasing, they can look around a little more.

What can a seller do? Well, properties are still selling. There are still buyers. They just have to forget the past and accept that this is a new market. A sale will occur when the three points of the triangle - Price, Location, and Condition - are met. Since location is fixed, the other two have to adjust accordingly. 

The good news? They will have a better chance of buying the property of their new dreams. 

As always, contact me with any questions or if I can help you, or someone you know, with a real estate need. I appreciate your referrals!

 

 

20101 FM 1431, Lago Vista TX - 18+ Commercial Acres

 

On a hill overlooking FM 1431, the main artery running along the northshore of Lake Travis from Round Rock to Marble Falls and beyond, there are 18+ acres waiting for a business that needs great exposure.

This property sits between Jonestown and Lago Vista near the entrance of The Hollows, a master-planned lakefront/resort community that is booming with new construction right now as buyers flock to the beauty of the Texas Hill Country and Lake Travis. 

Lago Vista, Jonestown, and Point Venture - the small towns that for the Northshore of Lake Travis community - have all seen a crazy amount of new construction and demand for housing. 

The property has a temporary zoning designation right now, just waiting for the buyer with a vision to let the city of Lago Vista know what they plan to do. Here is more information:

 

• $650,000 Lago Vista city limits Zoned temporary – buyer can choose; seller didn’t designate when city annexed. (TR-1)
• 18.837 acres – 3 parcels Hill country and potential lake views
• Electricity on property, 3 phase Lago required to provide water and sewer, but Jonestown water also not far away and available; Hydrant is 300 feet away. Lago provides up 250 ft. 1431
• Frontage belongs to the state, but access has been granted for right turn lane exit. Can also be accessed from Old Burnet Rd.
• “Buffer/transition” area may be required between it and adjacent residential property (Professional office, apartments or even just thickly planted and preserved open space strategically located to protect the existing development from adverse impacts associated with commercial uses from things like parking lots, headlights after dark, noise, delivery trucks, increased traffic, etc.
• Per city development office, getting approval for subdivision might be more time-consuming because of the absence of utilities than for other commercial uses, so that probably wouldn't be the best use of the property.

 

Contact me if you have any questions or would like more information! 

 

 

Open House in Lago Vista, TX

 

Open house this Saturday from noon to 2 pm at 20813 Harrison Cove in Lago Vista.

At $469K, it's such a low price per square foot even without the one acre it sits on!

Come check it out!

 

Iconic Lake View / Golf Course Home in Lago Vista, Texas

Who do you know who is looking for something different? Something that doesn't look like everyone else's home?

Well, here it is! This 3 bedroom, 3 bath, 2590 square foot steel-framed home with metal roof in Lago Vista, Texas is one-of-a-kind in a great way, and guess what? It is available!

The lower level has spacious rooms, an open layout, exposed beams, and a soaring fireplace. It has a huge kitchen and a view of Lake Travis from the upstairs concrete deck, accessed from all levels. Walk or drive your golf cart to the Highland Lake golf course or the Grille at Highland Lakes. Great food and music! 

This home has a unique, custom design. It needs some updating, but it's priced accordingly.

Amenities as a member of the Lago Vista POA  include access to several private waterfront parks, boat launches, pools, a fitness center, and more, for only about $13 a month! Live close to Lake Travis, but also to hospitals, restaurants,  and shopping, and within the award winning Lago Vista ISD. 

Spread the word and help me find a buyer for this sweet couple who needs to sell!

Check out more photos and details HERE. Call me for more information - 512-657-0661.

Hot Market, Low Inventory in Austin, Texas

 

This cute 4 bedroom 2 bath Austin, Texas home in 78753 was originally built in the ’70′s. It recently received a full remodel – new windows, roof, flooring, cabinets, quartz counters… the whole shebang. Between the upgrades, the location, and (finally) at the right listing price, it drew multiple offers, with my clients winning the prize. 

The Austin market is hot and inventory in the prime locations is low. If you’ve thought about selling your home, this is a great time to do it! Call me for a free market evaluation. 

Home Seller Myth #1 - Price it a little high...

As you might suspect, I subscribe to a lot of blogs and websites that deal with real estate issues. One article today from the Texas Association of REALTORS blog caught my eye - "Don't Be Fooled By These 3 Selling Myths".

Myth: If I price my home higher than market value, I’m leaving room for negotiations.
Truth: Buyers have no idea this is your strategy and won’t understand why your price is too high. Many won’t even view your home if it’s priced too high, much less put in an offer. An improperly priced home is also more likely to sit on the market, making potential buyers think there’s something wrong with it. And when that happens, you’ll probably end up with lower offers than if you’d priced the property correctly from Day One.

In conversations with people, I realize they have the impression that in a hot market, the seller can name their price and buyers will be lining up at the door. That's true for a few properties, but only the ones who understand the importance of pricing their property right from the very beginning. 

 

 

Many sellers also believe that buyers are always going to offer less than the list price, so they are tempted to add some cushion. What they don't realize is they are creating the scenario themselves. By pricing it high, they are setting themselves up for lower offers.

On the other hand, if it's priced right it will attract more buyers, creating competition and sometimes even drawing offers above the list price. Pricing isn't just another form of marketing - it's 80% of your marketing. It's important to get it right from the beginning because the first 14 days your property is listed is the window of opportunity when buyers and their agents discover it and are most likely to visit and make offers. 

 

 

But how do you determine what the right price is? There are no crystal balls, unfortunately, and every house is unique in some way, but there are tools and data that REALTORS use to price a property.  We have the multiple listing service which provides data such as sold prices, days on market, etc., and there are classes geared specifically toward pricing, such as those required for the Pricing Strategy Expert designation, which I have earned.  

To be clear... a REALTOR doesn't decide how much your home is worth. The market does. It comes down to supply and demand, just like any other commodity. First there's location. Next condition, especially first impressions. And then you have to take into consideration the competition. REALTORS will look at comparable properties that have recently sold and those that are also on the market. Fair market value isn't determined by how much you originally paid for the property, how much you still owe on it, how much you need for a future home, or how much you spent on your new granite counters or wood floors or new hot water heater. If a buyer can get the same for less, or at least meet their needs for less, that's what they will do.

Buyers are reluctant to make offers on homes that are clearly overpriced. They fear insulting the seller, but also a high list price could indicate the sellers are going to be unrealistic through the whole transaction, making a potentially stressful experience even worse. 

Many buyers won't even view a house that's clearly overpriced. It's worth repeating: "..,An improperly priced home is also more likely to sit on the market, making potential buyers think there’s something wrong with it. And when that happens, you’ll probably end up with lower offers than if you’d priced the property correctly from Day One."

 

 

Not to mention more days of having to keep the home show-worthy, of paying property taxes and mortgages and property owner association dues... and more days away from whatever dream or need enticed you to sell your home in the first place. 

Isn't your time worth something?

I admit this is a hot topic for me. I've been suckered into pricing a property too high initially way too many times, on the condition that we'll lower the price after a week if we haven't received an offer. Unfortunately, you often remain a step behind and never catch up if you don't start out in front, at the right price, to begin with. It pains me to see my sellers so stressed and frustrated after too many days on the market... especially when they decide it must be my fault, despite my recommendations on pricing it lower. 

From now on, if a seller doesn't seem to be realistic about pricing, I'm determined to recommend they find another agent, because I have a business to run. I want to help my clients, but I'm in this to make money for my family. Taking on a listing that is obviously overpriced is like throwing money down a well. Plus it takes time away from clients who are ready to team up and help you help them.  

If you still haven't been convinced, here's an example I recently heard...

Picture someone going car-shopping. They are looking at Cadillacs, but there's also a Kia in the lot, priced the same as the Cadillacs. Out of curiosity, they investigate, but soon see the only thing it has in common with the Cadillacs is the price. It has none of the higher end qualities you would expect if you spent that much money. Sure, it's a beautiful color, but why buy the Kia when you can have a Cadillac with all the bells and whistles?

 

  

On a Quiet Street in North Central Austin... 9906 Chukar Bend, Austin, TX 78758

 

“People don’t live in Austin to work, they work to live there.”

~Robert Rodriguez, filmmaker and screenwriter

 

Real estate is all about location, right?

This cute single story 4 bedroom, 2 bath home in north central Austin's Quail Creek West neighborhood scores big in that department. 

It's nestled on a side street away from the main traffic through this established neighborhood, where long-time residents welcome newcomers who want to live in Austin, not just near it.

Whether they want something affordable close to the main arteries of Austin and major shopping areas like the Domain, a shorter commute to work, or just want to be closer to downtown entertainment, this is the place to be.  

 

 Built in 1973, this home only had one owner who lovingly maintained it. It has been pre-inspected to rule out any major surprises. 

 

 It has received some light upgrades, like fresh paint inside and out, this gorgeous wood laminate that replaced the carpet, and new doors. 

 

 There's a refreshing mix of modern and vintage. 

 

In my childhood home, the kitchen was literally the heart of the home - in the very center.

The hub.

And that's how it is in this home, with the rest of the house branching out from the heart... the kitchen. 

Awesome built-ins remain, like this breakfast bar. 

 

It's perfect for buyers loving that vintage-Austin look, but it could be easily upgraded, too. 

 

 The floor plan has lots of possibilities. It has two living areas inside, plus a large front porch and covered back patio. 

 

Isn't this a great spot for starting the morning, or ending the day?

 

Contact me for viewing information or more information. MLS#9058202

Happy Thanksgiving!

 

Thanksgiving is a time for family, joy and gratitude.

Looking back over the past year, I'm grateful for the trust my clients had in me as I helped them with their real estate needs. I'm grateful for the trust of so many who recommended me to their family and friends who were looking to buy, sell, or invest. I'm especially grateful for all of the wonderful people I've had the privilege to meet. 

I also feel blessed that I was able to help so many achieve the dream of home ownership. Just consider these great benefits homeowners can be thankful for:

1. Tax Deductions
2. Equity
3. Stability
4. Appreciation of Value
5. Increased Borrowing Power
6. More Financial Freedom

It's not something to take for granted, and part of the reason I love my job. 

Happy Thanksgiving! May you and your families be blessed, and your hearts overflow with thankfulness.

 

Rare Hilltop Custom-Built Home on 7 Acres - 19623 Tyler Trail, Jonestown, TX

 

 

Just imagine enjoying unobstructed, panoramic views of the Texas Hill Country and Lake Travis, sighing over 4th of July firework shows from half a dozen communities scattered along the Lake Travis shoreline,  and watching a full moon rise over a far horizon.

 

 

That's what you get with this custom home perched atop the highest hill in this neighborhood on the north shore of Lake Travis. 

You also get 7.1 acres that protect that view, a paved road leading up to the top of the hill, and, best of all, lots of peace, quiet, and privacy. 

 

 

Oh... and stars. You get a sky full of stars when the moon isn't taking the stage. 

Custom-built by the current owners in 1992, this open floor plan 3945 square foot home has lots of windows for enjoying those views and provide natural light. The owners have made a lot of improvements and upgrades, including double recessed sinks, a tile backsplash and quartz counters in the huge kitchen.

 

 

Near the front door, a large magnolia tree and water fountain welcome you home. 

 

 

Step inside to a view a soaring stone fireplace flanked by two tall windows in the large family room. 

 

 

Downstairs you'll find two master suites, as well as an office that could be a bedroom, while upstairs there are two large bedrooms that are easily converted to four. Each has a closet and a door. Also upstairs you'll find two bathrooms, as well as a loft-style family area that opens to an oak-shaded deck with exterior stairs. 

 

 

Outside there is plenty of space on the hilltop for building a workshop or swimming pool... or for just relaxing...

 

 

Situated between Lago Vista and Jonestown  , the neighborhood enjoys low taxes and no HOA fees, while just minutes from shopping, hospitals, and entertainment in Cedar Park, and less than an hour from Austin. 

It's in the renowned Lago Vista Independent School District.

Shown by appointment only. Just contact me for a viewing or for more information!

MLS # 5499422

 

This Plum Creek Bungalow Can Be Yours! ... 1664 Sanders, Kyle TX 78640

 

 

Update: This cute 3 bedroom 3 bath house is now on the market! Built in 2015, Bigelow Homes altered this "Mesquite" model to protect the gorgeous oak tree located on the property, which makes it truly unique.  

 

 

It has 1746 square feet, a downstairs guest room or mother-in-law suite with separate entrance, an attached two car garage, hook-ups for either a gas or electric dryer, energy efficient appliances, a flagstone patio downstairs, water softener, and a deck upstairs shaded by the oak tree, with views of the public golf course and catch-and-release pond. 

 

Located in the Plum Creek community in Kyle, Texas, it is an easy commute to both Austin and San Antonio, and just a short distance to shopping, an Austin Community College campus, and much more. 

Besides the golf course and pond, Plum Creek is home to three community pools, several parks and playgrounds, and many hike and bike trails. It is based on historic design, with quaint elevations, alleys, and picket fences. 

MLS # 2449741

Contact me for more information!