Filed under: Real Estate | Tags: Austin, home sales data, new construction, Real Estate
During the last 30 days, 148 homes sold in South Austin (South of Ben White, West of IH35, north of Hays County). A year ago, during the same time period, 193 homes sold. Of the sales during the last 30 days, 16 homes sold for less than $150K. The highest priced home sale was $630K, the lowest was $85K, the average was 221K and the median was $206K. The average days on market was 56 days, with the majority of homes selling in under 40 days. Of the sales, 15 were new construction homes - in the following neighborhoods: Independence Park, Villas at Sunset Valley, Meridian, Circle C Alta Mira, Bauerle Ranch, Olympic Heights and Rancho Alto. Five of the homes sold last month have pools, and five of the homes are on half an acre or more. There are currently 452 homes for sale in South Austin, about a 3 month inventory.
Two Lakeway homes for sale now will give you exceptional lake views along with workable floor plans without breaking the bank! Both homes are listed for sale for less than $700K and both have over 3700 sq ft of space. One house on Explorer has 5 bedrooms, an open living area on the main level, and another living area downstairs with the secondary rooms. The backyard has flat space for a pool, too. The best view from this home is when you are out on a wonderful balcony. The other home with an exceptional lake view is on Electra. The view from the kitchen and living area is really breathtaking! If you want a home with a lake view – there are usually several to choose from in Lakeway. There are currently 178 homes for sale in Lakeway and similarly named neighborhoods (Hills of Lakeway, Preserve at Lakeway, etc.). Vikki Goodwin, Realtor, Homes ATX.
A few months ago when I was asked if the problems with the subprime mortgage markets were affecting my business, I answered “no.” Today the answer is “yes.” Unfortunately, as a result of a few bad apples, everyone is suffering. Underwriters are being a lot more nit-picky. Loan packages that were a sure deal in months past are now scrutinzed and sometimes rejected over minor details. Take, for example, my clients who have great credit (800+ score) and are making a large down payment on a new home. Because they still own a home, the lender, after initial approval of the loan, came back and took the approval away. Talk about stress to the buyers (and me!). Fortunately, they were “re-approved” in time for closing. In another instance, someone with an 18 year work history switched from being employed in a hospital to being self-employed doing contract work (and making more money, by the way), and the lender after initial approval is now “auditing” the file and keeping us on pins and needles (with a delayed closing, on top of the stress). If you or someone you know is planning on buying a home, be sure you are working with an experienced mortgage broker, and understand that the mortgage market is in a bit of chaos. No matter how good your credit score, how stable your income, how large your assets, you can expect to be asked for more paperwork and more information than ever before. You might have to jump through a few hoops along the way, too! But, if you need to know of an excellent and experience mortgage broker to help you through the process during this cold climate, I know just the broker. Bob Goodwin, 512-241-3192, Austin Mortgage Group. He handles the loans for many of my clients, and they are always pleased with the outcome. Going through stress is not what you need – take my word for it.
