These days buyers have a “wait and see” attitude about home buying. They want to wait and see if the market will get worse and prices will drop. Surprisingly, the Austin market has remained resilient in 2008 despite the increased number of homes for sale and the decreased number of sales. The average sales price in July was just slightly higher than last year. Now that the summer is over, trends show prices should come down a little until next Spring. Dr. Mark Dotzour, a recognized market expert from the Texas A&M Real Estate Center, expressed this same opinion, adding that the summer of 2009 will be pivotal. “With a new president, presumably leveled-out gasoline prices and foreclosure numbers easing, those who have been postponing decisions may be ready to make major purchases,” according to Dotzour.
One indicator of how the housing market is doing is the number of months of inventory we have at any one time. Right now we have a 6 month inventory for the Austin metroplex overall, the highest it has been since June, 2004, but still at a healthy level. Meanwhile, if you isolate certain areas, the picture is a little different. Lakeway, for example, has a 15 month inventory of homes, mainly due to overbuilding. And, if you isolate South Austin, you find there is only a 4 month inventory. Buyers who are looking for a good deal, and aren’t as concerned about being close to downtown, may choose to go out to the lake where the schools are excellent and the views are often pretty incredible, too. On the flip side, with a lower inventory in South Austin, homes will sell more quickly, on average, than they will in the Lakeway area.
If you are looking for the best home with a pool in Steiner Ranch, I’ve seen it! Priced in the high $600K range, built in 2004, 3914 sq ft, this home is on one of the best cul-de-sac lots. The owners made tasteful choices when building the home, from the flooring which is a unique combination of wood and tile, to the floor plan which is practical and well thought out. The pool is also top notch, with stonework that is very pleasing to look at. The home sits on just over half an acre and has a private yard with a nice view of hill country. The gourmet kitchen has granite counters, and there is a second informal living room that feels like a sunroom and overlooks the pool. See photos – or call to set up a viewing! Vikki Goodwin, 512-426-9090.
Filed under: Real Estate | Tags: Austin, condo, home, Lakeway, Real Estate, Vikki Goodwin
I recently showed a number of condos in Lakeway, and my favorite in the low $200K price range was one located in Stoney Creek. The owners have done a wonderful job transforming a 1970’s floor plan into a modern, cozy home. What used to be a small courtyard was covered and converted into the dining area complete with a sliding window from the kitchen and French doors from the family room. The room is so charming it makes you want to sit down and eat to enjoy the ambiance! Since we also looked at another unit in the same complex, we could see what changes had been made to create a more modern look, and it has made a huge difference. Upstairs are three bedrooms, the master which is wonderfully spacious and has two closets, and two fun kid’s rooms – one painted for a girl and one for a boy. Priced at $219K, this condo is a great deal for someone wanting to get into the Lakeway school system on a tighter budget! See more pictures, or call for a showing, Vikki Goodwin, Homes ATX, 512-426-9090.
