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Austin, TX Real Estate News

By Jason Crouch, Broker - Austin Texas Real Estate (512-796-7653)
(Austin Texas Homes, LLC)
I attended a closing a few days ago at an attorney's office (less frequent here in Austin, as we usually close at title companies).  This particular guy has always been very good at explaining the closing process to the buyers and sellers, yet he is also quick.  At any rate, he was telling my buyers that the best method for sending extra payments to the bank/mortgage company was to divide one payment by 12, then send 1/12 each month applied to principal.  He said that this would remove four extra YEARS from the mortgage as opposed to simply sending one extra payment annually all at once. I know that the other method (one full extra payment sent once a year) will knock off a good portion of the loan term (I think close to half), but I wasn't sure if this other method he recommended would...
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By Jason Crouch, Broker - Austin Texas Real Estate (512-796-7653)
(Austin Texas Homes, LLC)
Over the past couple of months, the Austin and central Texas areas have had more rain than I can ever remember, and I have been here for about 20 years.  This seems to have delayed the summer rush by about a month or so, since we had fewer buyers travelling to the area during the heavy rains, and local home buyers weren't driving around looking as much either. August is shaping up to be a solid month for our company (Austin Texas Homes, LLC), and for most of my friends who are in real estate.  I hope the season lasts a bit longer than usual, but we will see.  Typically, things slow down quite a bit starting in September.  Perhaps the delay will push this to October this year.
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By Dotti Driver, GRI, E-Pro Realtor
(Sky Realty)
One of the things that I like best about Austin is the Colorado River that winds it's way through town. Some of the most majestic homes in Austin overlook the river, some from cliffside, others from right on the water. If you've never visited Austin, you might not know that it's in what Texans call the Hill Country. Dallas and Houston are flat, but Austin is very hilly--and even has trees.  It's a little oasis.  There are restaurants here and there along Lake Austin.  One of my favorites is Hula Hut.  It's a mixture of Mexican and Asian food.  Doesn't sound too good, but it is. Their outside deck extends over the water and is a favorite Austin happy hour place.  Another one is Ski Shores.  It's informal and has very good greasy hamburgers and at night there is live music.  City Park is ...
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By Dee Copeland, Principal Broker
(Copeland Group Realty)
Wanted: Real Estate Agent-Buyer SpecialistLocation: Austin, TXDESCRIPTION:Our team specializes in working with new construction, second homes and investment properties. We're growing, so need a dynamic, smart, outgoing buyer specialist who loves technology. Prefer licensees with least 1 year real estate experience. This job may be for you if you love meeting new people, showing homes and are interested in investing. You demand excellence from yourself, are a self-starter and love to learn.The purpose of this position is to generate referrals, connect with local builders, and work with buyers to find homes that match their criteria. You will NOT have to worry about marketing, working with sellers, setting up systems, or managing the closing process/paperwork. Duties include networking, f...
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By Mary "B" Battaglia, GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent
(Coldwell Banker United (referrals welcome!))
In the Great Hills: Fifty-nine properties have sold during the first half of this year. The average sales price was $456,494 and the average price per square foot was $151.11.   On average, it took 41 days for a property to go under contract.  As a comparison, during the first half of 2006 there were 56 properties sold with an average sales price of  $434,020 and an average of  $136.70 per square foot.Today, there are 30 properties available; they are averaging $160 per square foot.Mary "B" - Austin, Tx.
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By Dotti Driver, GRI, E-Pro Realtor
(Sky Realty)
 Here are the sold stats for the Westlake area of Austin Tx east of loop 360.  These stats are based on single family homes sold in the month of June 07, through the Austin MLS by REALTORS.  S - 31 Properties Found List PriceSquare Feet$/SFBedroomsFull BathsLiving AreasYear BuiltSales PriceLP:SP%CDOMMin$199,000 912$155.61 2211948$230,000 89% 0Avg$916,572 3453$247.57 3321987$889,113 98% 39Max2,895,0006571$601.07 55520062,700,000116% 213 This information is deemed reliable but not guaranteed.  Buyer must verify.
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By Dotti Driver, GRI, E-Pro Realtor
(Sky Realty)
This is the sold stats for the Great Hills area of Austin Texas.  They are based on single family homes sold in the month ofJune through the Austin MLS by REALTORS S - 22 Properties Found List PriceSquare Feet$/SFBedroomsFull BathsLiving AreasYear BuiltSales PriceLP:SP%CDOMMin$289,000 1834$110.56 3211977$277,000 88% 1Avg$435,671 2918$147.90 3221990$428,815 98% 36Max$649,500 4631$194.27 5442003$652,559 103%   This information is deemed reliable but not guaranteede.  Buyer must verify.
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By Suzanne Gantner, GRI, E-Pro, SRES, SRS, ABR, CNE, REDS, CPS, WCS
(Realty Texas)
 Austin Texas Real Estate June 2007 Sold Stats S - 34 Properties FoundList PriceSquare Feet$/SFBedroomsFull BathsLiving AreasYear BuiltSales PriceLP:SP%CDOMMin$ 345,0001092$181.292111917$ 337,00074% 0Avg$ 808,7522823$279.303221964$ 773,38296% 76Max$ 2,100,0005100$479.375442007$ 1,830,000106% 402All information deemed reliable but not guaranteed, buyer or seller must verify.
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By Dotti Driver, GRI, E-Pro Realtor
(Sky Realty)
Here are the sold stats for Northwest Hills in Austin Texas.  These stats are based on single family homes sold in the month of June 2007 through the Austin MLS by REALTORS.  A - 22 Properties Found List PriceSquare Feet$/SFBedroomsFull BathsLiving AreasYear BuiltSales PriceLP:SP%CDOMMin$439,000 2327$180.82 3211962$0  0Avg$863,998 3346$253.96 3221979$0  120Max########4881$738.61 5442007$0  619 S - 9 Properties Found List PriceSquare Feet$/SFBedroomsFull BathsLiving AreasYear BuiltSales PriceLP:SP%CDOMMin$379,500 2098$151.50 4221966$400,000 97% 0Avg$581,711 2819$207.52 4221973$585,888 100% 59Max$795,000 3671$261.36 5332003$780,000 109% 333  All information is deemed reliable but not guaranteed.  Buyer must verify.
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 Circle C Ranch-Austin, TX Real Estate statistics June, 2007 sold information from the Austin, TX MLS  List PriceSquare Feet$/SFBedroomsFull BathsLiving AreasYear BuiltSales PriceLP:SP%CDOMMin$ 255,0002081$94.223211988$ 256,00097% 0Avg$ 351,3492824$123.233221997$ 348,28799% 23Max$ 487,5003703$147.585442005$ 479,500102% 220 Your Search Criteria Returned 24 PropertiesAll information deemed reliable but not guaranteed.  Buyer & Seller must verify.
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By David Durham
(Realty Austin)
I just read this morning that Austin is in the top four "retirement-friendly" cities to watch according to the AARP magazine.  That is some great news as the baby boomer generation continues to reach retirement age.  The Austin area has a lot to offer anyone coming here, but specifically better healthcare, expanded sidewalks and a wide range of mixed-use housing are things that seem to appeal to residents over the age of 50.  So retirees, come on down to Central Texas - we'd be glad to have you!!
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By Steve Crossland, Austin TX Real Estate
(Crossland Real Estate)
Rents continue increasing overall in Austin, as the number of homes rented drops. The average leased price of a home in Austin for June 2007 is $1364 per month, up 7.5% from $1269 in June of 2006. Average days-on-market for homes rented in June 2007 was 41 days. The median days on market was 28 days, which means half of all homes listed in the Austin MLS for rent were leased in less than 28 days. We are clearly moving back into a solid Landlord's market.Austin Rental Market Stats June 2007Previous Month and Year Comparison All MLS Areas - Houses Only May 2007June 2007June 2006 Yr % Change # Leased 650750789-4.9%Avg List Price $1384$1370$12797.1%Median List Price $1250$1250$11954.6%Avg Leased Price $1377$1364$12697.5%Med Leased Price $1210$1250$11508.7%Avg Size SQFT 1910189718373.3%Media...
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By Mary "B" Battaglia, GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent
(Coldwell Banker United (referrals welcome!))
Located in Northwest Austin, the Great Hills subdivision and Country Club has easy access to Highway 183, MoPac and Loop 360. This has been a most sought-after place to live, being convenient to a variety of shopping experiences and having easy access to major employers and medical facilities. Having a picturesque golf course to compliment the already stunning views only adds to the popularity of the area. The Great Hills is a family neighborhood of custom-quality executive homes priced from the upper 200's. The Great Hills is in Travis County and is served by the City of Austin. The subdivision has enjoyed having over 20 custom builders within its sections; as a result, there is a refreshing variety of home styles. The cable and electrical lines are underground, creating a clean look,...
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By Steve Crossland, Austin TX Real Estate
(Crossland Real Estate)
Below are the June 2007 and YTD mid-year real estate sales stats for Austin and surrounding areas. These are for single family homes, condos are not included. The most interesting thing to me on the first chart below for June sales is that the median days on market is 28 days. That means half of all homes listed in the Austin MLS sell in less than 28 days. That's outstanding. The Average days on market for June was 56 days, which is also very good. Austin is really a city of many sub-markets, as the breakout by MLS area below shows. Some areas are experiencing strong demand and great appreciation while other parts of Austin (mainly surrounding suburbs to the east) are seeing slow sales and little or no appreciation due to a slowdown in starter home sales. Overall, June sales saw the num...
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By Jeannette Morrison, Central Texas Real Estate, NW Austin, Round Rock
(Cedar Park,Leander,Georgetown & Lake Travis Areas.)
According to the Austin Business Journal, area home builders started 4,132 new homes during second quarter 2007.  The Journal attributed these findings to housing research group Metrostudy. Although that is more than 1,100 more homes than builders started during the first quarter it is 8% fewer than the number of starts in second quarter 2006. The annual rate of new home starts is also 8% below where it was this time last year, according to the study.Most of the reduction in starts on new homes comes from those priced below $200,000. What I find intersting is the construction of new homes in the $400,000 to $750,000 range jumped 66% during the last 12 months. This is fueled by people moving to the area from other parts of the country that have seen significant appreciation in real esta...
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By Mary "B" Battaglia, GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent
(Coldwell Banker United (referrals welcome!))
In Barrington Oaks: Sixteen properties have sold this year, selling for an average of $210,583 or $115.28 per square foot. Last year at this time 22 properties sold for an average of $184,779 and $97.61 per sq. foot. This is an increase of over 14% from last year.Currently, there are 11 homes on the market for an average of $234,236; or $122.84 per square foot.Mary "B" - Austin, Tx.
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By Mary "B" Battaglia, GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent
(Coldwell Banker United (referrals welcome!))
Barrington Oaks Subdivision is in Travis County and within the City of Austin. Located in Northwest part of the city with easy access to Highway 183 and Spicewood Springs Road, Barrington Oaks has been one of the more popular area subdivisions for many years. Residents appreciate the convenience to shopping, major employers, medical facilities and recreational areas, it is a family neighborhood of quality homes priced from the 140's to the 200's. The area is also located in the highly acclaimed Round Rock Independent School District. Because of its size and location, Barrington Oaks is served by two nearby elementary schools. Both Laurel Mountain and Kathy Caraway Elementary School have received the Presidential Blue Ribbon Award for excellence. Canyon Vista Middle School was recently n...
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By Mary "B" Battaglia, GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent
(Coldwell Banker United (referrals welcome!))
In Windridge: Four properties have sold this year. The average sales price was $348,125 and the average price per square foot was $151.44. It is interesting to note that last year at this time, five properties sold and they averaged $134.86 per square foot - which is about a 12% increase.Windridge continues to be a very popular area and has held its value well over the years.Mary "B" - Austin, Tx.
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By Mary "B" Battaglia, GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent
(Coldwell Banker United (referrals welcome!))
The beauty of Windridge is striking, with its tree-lined streets and quiet cul-de-sacs to its views of the Hill Country. The subdivision is located in Northwest Austin with access to Highway 183. Its custom quality homes on large, treed lots are priced from the 240's to the 600's. Windridge subdivision is conveniently located to shopping, medical facilities and recreation. Located within Travis County and the City of Austin, Texas the area is also served by the highly acclaimed Round Rock School District. Two neighborhood elementary schools, Kathy Caraway and Laurel Mountain, as well as Canyon Vista Middle School have recently received the Presidential Blue Ribbon Award for excellence. These schools are an added bonus for families with school age children, and add value to the subdivisi...
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