Austin Real Estate News

In yet another interesting article in the Austin American Statesman, reporter Marty Toohey dug into the process by which Travis County assesses homes for taxation purposes. With 37 agents tasked with assessing the more than 379,000 properties in the county (which works out to about 41 houses per day if they each work Monday-Friday and take off two weeks vacation per year), it’s no wonder the Appraisal District might not give each home’s valuation the laser focus owners desire. That workload challenge, compounded with a lack of usable data (there is currently no disclosure requirement for sale prices in residential real estate transactions in Texas) is made worse by a shortage of adequate analytical tools. In fact, the article described the tactics available to agents as:

•Driving around looking at “for sale” signs to get asking prices.
•Asking people who just bought property what they paid, in a mail-out that gets few responses.
•Examining building permits (although many homeowners who are renovating don’t obtain permits).
•Relying on owners to rat on neighboring properties when they protest their own valuations.

It’s really no wonder that home valuations cause such irritation in home owners. In Travis County this spring, property owners filed 50,000 appeals on their appraisals (and the subsequent tax bill).

So, if you always thought the county used elaborate computer modeling to calculate your tax bill, you now know that you have the same tools available. In fact, you have it easier in that you don’t have to leave your house to find out asking prices on homes in your neighborhood (or any other, for that matter.) Just visit our home search feature on our Web site, www.AustinHomeListings.com. Our industry-leading tools allow you to search by interactive map, Austin MLS Area, address or zip, school district, or Austin subdivisions. We’re also set up to send you email alerts when new listings match your home search criteria.

So, if you live in Spanish Oaks, are interested in Lake Pointe or want to learn more about Tarrytown, our site can help you get the information you need. Or, if you’d just like to talk about your options, give us a call at 512.300.0928. We may not be able to help you with your tax assessment, but we can certainly help you find the Austin home of your dreams.

In an article in this past Sunday’s Austin American Statesman, M.B. Taboada wrote about the increase in larger country homes selling around Austin. Focusing on areas of Hays County like Buda, San Marcos and Dripping Springs, the author described a growing trend toward larger homes on larger acreage. Drawn to the idea of living with no neighbors visible from one’s windows, people are seeking out the privacy and greater contact with nature possible with Hill Country living. Doing a quick search today through our site, www.AustinHomeListings.com we found 23 listings in Travis County on lots larger than 25 acres. However, when you widen the search to lots that are five acres and above, 158 listings pop onto the screen. So, depending on your definition of country living, you can find a wide variety of great Austin homes for sale that feature Hill Country views within reasonable driving distance to Austin’s cultural amenities. Also, our search system will reveal land listed for sale that could provide the ideal site for the dream home you’ve been wanting to build. So, be sure to click through to www.AustinHomeListings.com or call us at 512.300.0928 to start your search for your own little piece of country living.

Although a lot of people progress toward the suburbs as the ultimate place to live, there is a growing push to downtown Austin living. With condo developments like the Austonian and the Four Seasons gaining steam and the continuing emphasis on urban living from Austin city planners, the inventory of downtown living space is increasing in quality and quantity. A story in this week’s Austin American Statesman announced the latest addition to both Austin’s distinctive skyline and downtown living options. In addition to 200 condos, the 21c Museum Hotel will feature 209 hotel rooms, a restaurant and, most interestingly, a museum.

Modeled on the successful 21c Museum Hotel in Louisville, the building should have a nice combination of amenities that make it ideal for Austin. Known for its culture, Austin is just the kind of place for a great new restaurant and an art museum. Interestingly, the developers declared their intentions to earmark a number of the condos as living space for artists with pricing to match. It’s one thing to invest in the arts by buying a painting or sculpture, but another thing entirely to keep artists around with affordable housing. If that’s not reflective of an Austin approach to things, we don’t know what is.

If you’re interested in downtown living, you can use our unique search tool that quickly gets you to the area you want. Simply click here to search Austin Condos and Lofts – Downtown Living or call us at 512.600.1800. If you want to be in the center of the action in downtown Austin, let Great Austin Properties get you there.

There are plenty of criteria for a home purchase and accessibility is one of them. If you’re thinking about buying a home in Austin, you might want to consider the areas near the proposed stops for the soon-to-be-built Austin light rail project known as Austin MetroRail.  We recently contacted Bill Lejeune, Rail Road Manager for Capital Metro, and asked for more details on the individual stops. As you browse the list below, remember that the easiest way to find homes near these locations is to use our Map based search on www.austinhomelistings.com. 

1)     Downtown – Convention Center: Trinity & 4^th (could float one block either direction depending on results of coordination with the City of Austin)

2)     Plaza Saltillo – Comal: 5^th & Comal

3)     M. L. King Jr.: No real cross street, but about 3 blocks east of Airport and MLK, Alexander St may be the closest street

4)     Highland Mall: About 300 feet north of the intersection of Denson and Airport

5)     N. Lamar: Airport & Lamar

6)     Burnet: Near the Domain shopping center, about 1000 feet north of Kramer and Burnet

7)     Howard: Location still under consideration, but approximate location is Howard Lane and Mo-Pac

8)     Lakeline: Between 183 and Parmer Ln. Parmer Ln will be extended to the existing NW Park and Ride (the name of this station will be changed to Lakeline Park & Ride)

9)     Leander: U.S. Hwy. 183 north of FM 2243, across from new HEB where existing park.

*Austin Metro Rail, Austin MetroRail name, location, stops, installation are all subject to change without notice. For further information, visit the city of Austin CapMetro website.

According to the latest information from the Commerce Department, new home sales jumped nationwide in April, increasing the most in the South. Across the country, sales of new homes leapt 16.2 percent, the highest increase in fourteen years. Whereas the Midwest experienced a four percent drop, builders in southern states enjoyed a 27.8 percent increase. Some analysts cited an accompanying drop in the median price of those same homes (an 11.1 percent decrease) as the cause for this movement in the new home market. According to their math, builders are trying to unload inventory before prices depress much further.

So, it sounds to us like, nationwide, residential real estate is growing into a strong buyer’s market, especially with builders holding inventory. Here in Austin, however, the market appears a bit more balanced. There are still strong opportunities for both sellers and buyers as the overall inventory is relatively stable. However, since builders read the same reports and articles that we all do, there might be some opportunity for buyers interested in newly built Austin homes from new home communities such as Belterra, Circle C, Avery Rnch and more. If you’re interested in those neighborhoods, give us a call at 512.300.0928 if you’d like to meet some of the builders doing great work there. We’d love to help you turn a national trend into the home you’ve always wanted.

Search more Austin homes for sale at AustinHomeListings.com.