Austin Real Estate News
Austin Among Most Dynamic in World
Written by reillyrealtors in Austin Economy, Austin News | Add Comment »A recent article on The Atlantic website lists the “30 Most Dynamic Cities in the World” and Austin makes the list. In fact, Austin was the only American city to make the list and only one of three cities in the developed world to rank. Reasons? Austin has not been hit as hard as most places by the recession and the housing market here is still strong. Austin benefits from being the seat of the Texas government, home to the University of Texas (and therefore home to jobs in education and research), and a draw for high-tech businesses.
That’s good news for us…and another reason why buying and/or selling Austin real estate may be a great move for you. Let Reilly Realtors know if you are ready to buy or sell in the Austin area. Our expert Realtors would love to hear from you. Call us at 512.600.1800 today!
New Neighborhood in Bee Cave Area
Written by reillyrealtors in Austin Home Listings News, Austin Neighborhoods, New Homes | Add Comment »A new neighborhood off Hamilton Pool Road in West Austin’s Bee Cave / Lakeway area is now open for sales – learn more about the community on our new Rocky Creek Neighborhood Profile page. Here’s a quick overview of the community:
- All new construction
- Current builders are Highland Homes and Drees Homes
- Prices range from the low $300s to just under $600,000
- Home sites are 70 feet, 80 feet, or 110 feet wide
- Around 150 sites are now available, ultimately Rocky Creek will have about 400 homes
- 4.5 miles down Hamilton Pool Road, making it about 6 minutes from the Hill Country Galleria, and 25-30 minutes to downtown Austin
- Community Pool scheduled to open Summer 2011
Reilly Realtors has completed one of the first contracts for a new home in Rocky Creek, so we know the neighborhood and builders quite well. Our experience with new construction is unparalleled, so give us a call at 512.600.1800 to learn more about Rocky Creek.
Austin Waterfront
Written by reillyrealtors in Austin Neighborhoods | Add Comment »If you are looking for Austin waterfront property, a Lake Travis home or Lake Austin home may be what you are after. Lake Travis is located in Northwest Travis County, and runs from the Briarcliff area south to Mansfield Dam near Steiner Ranch. From there, Lake Austin runs through the southern part of Northwest Travis County down to the Tom Miller Dam (next to Hula Hut and Mozarts) in the West Lake Hills area. Both lakes are much loved by Austin residents, and owning Lake Travis waterfront or Lake Austin waterfront is a dream for many. Learn more about these two lakes on our new neighborhood profiles: Lake Travis Waterfront and Lake Austin Waterfront.
If you are looking to buy or sell an Austin waterfront property, or are interested in other Austin real estate, we hope you will call Reilly Realtors – we would love to serve you! Call us at 512.600.1800!
Treemont Neighborhood
Written by reillyrealtors in Austin Home Listings News, Austin Neighborhoods | Add Comment »If you are looking for luxury in a prime location near downtown and Westlake/Rollingwood, you need to see the Treemont neighborhood. Located just south of Bee Cave Road off Mopac, Treemont offers spacious homes in a beautiful setting. Learn more about the community in our new Treemont neighborhood profile.
If you are buying or selling Austin real estate, we hope you will give us a call. Reilly Realtors knows the Austin area well and is ready to serve you…call us at 512.600.1800 today!
Wimberly Lane Neighborhood
Written by reillyrealtors in Austin Home Listings News, Austin Neighborhoods | Add Comment »We just added a new profile for Barton Creek’s Wimberly Lane Neighborhood. Check it out and let us know if you are interested in properties in Barton Creek or others in the Austin area. Call us at 512.600.1800 – Reilly Realtors is eager to assist you!
Belvedere Neighborhood
Written by reillyrealtors in Austin Neighborhoods | Add Comment »If you love the idea of luxury hill country living on an acre or more, you have to see the gorgeous and gated community of Belvedere. Though the location off Hamilton Pool Road in West Austin is only about 25 minutes from downtown Austin, it’s hard to justify the trip when there is so much to do in the growing Bee Cave/Lakeway area that’s only seven minutes away. And once you call Belvedere home, why go anywhere at all when you can enjoy Belvedere’s great amenities that include miles of hike and bike trails, a fully appointed club house complete with outdoor entertaining area, a lazy river pool, two stocked fishing ponds, a playground, and a sport court? This 443 acre property with 80 acres of dedicated green space is a unique and financially sound hill country community that is worth considering if you are in the market for either a luxury home or a home site.
Take a look at our new home site listing to get started: Belvedere Lot for Sale. If you are more interested in homes, use our Belvedere quick search at the top right of every page on our site. To learn more about the community, read our Belvedere Neighborhood Profile.
We are very familiar with Belvedere and the surrounding area, so please be sure to give us a call if you are interested in touring properties. You can reach us, Reilly Realtors, at 512.600.1800.
Strong Austin Economy, Home Sales
Written by reillyrealtors in Austin Home Sales Stats | Add Comment »According to an August report by the Real Estate Center at Texas A&M University (see http://recenter.tamu.edu/econ/), the Texas (and Austin) economy is doing pretty well as compared to the rest of the United States. The key data that support this include:
- Texas has had a third month of positive annual employment growth. From July 2009 – July 2010 the Texas employment growth rate was 1.3% as compared to close to 0% in the rest of the U.S.
- The private sector employment growth rate in Texas for the same time period was 1.2% compared to 0% in the rest of the U.S.
- For the same period, Austin-Round Rock was one of 19 Texas metro areas (up from 16 metro areas from June 2009-2010) to experience positive employment growth rate.
We love hearing that our state and our town are thriving in the midst of a difficult economy…but what does this mean for home buyers and sellers in the Austin area? Well, nationwide housing sales are down which is partly the result of the economic situation but also a result of the expired $8,000 tax credit. In Austin, home sales were down 25% in July (as reported in the Austin Board of Realtors July 2010 real estate statistics) – which is largely attributed to the expired tax credit. However, the good news is the median price of homes was up 15% from July 2009 and days on market decreased by 3% for the same month last year. Overall, the year has been good for Austin real estate with a year-to-date increase in sales of 5%, a median price up 2%, and days on market down 12%.
For buyers, the housing data for Austin means there are lots of homes from which to choose, and for sellers, the good news is property values are holding steady.
We hope you will let Reilly Realtors know if you are ready to buy or sell Austin real estate. Call us at 512.600.1800 – we would love to be of service!
La Ventana in Driftwood
Written by reillyrealtors in Austin Home Listings News | Add Comment »We just added a neighborhood quicksearch for La Ventana, a beautiful hill country community in Driftwood, Texas (near the Salt Lick BBQ restaurant, about 30 minutes from Austin). Use the quicksearch at the top right of any page on our site to search for homes by neighborhood, or click here for La Ventana Homes for Sale.
Be sure to check out our beautiful 5 bedroom / 4 bathroom home listing in La Ventana. It’s a great custom limestone home on 2 acres on a cul-de-sac. The community amenities are worth seeing as well. La Ventana has horseback riding trails, a multi-level pool with waterfalls, a clubhouse, and more! If you are interested in this home please call us at 512.600.1800.
419 Nicholas Lane – Front:
419 Nicholas Lane – Living Room:
La Ventana Pool:
Crystal Falls in Leander
Written by reillyrealtors in Austin Home Listings News | Add Comment »We recently added quick searches and neighborhood profiles for the Crystal Falls community in Leander, a gorgeous golf community of five distinct neighborhoods just north of Austin, Texas. Read the profiles by clicking on a link below (or go directly to neighborhood home listings using the Quick Search at the top right of every page on our site).
Cap Rock at Crystal Falls (brand new – profile coming soon!)
The Highlands at Crystal Falls
If you are interested in seeing a home in Crystal Falls, call Reilly Realtors today at 512.600.1800. We’ll have a Crystal Falls expert ready to help!
Housing Bulls Should Try Texas
Written by reillyrealtors in Austin Economy, Housing Market, New Homes | Add Comment »“Housing Bulls Should Try Texas” – that’s a featured story in today’s Wall Street Journal. The main reasons given in the article are:
- Demand – 19% population growth in the last ten years, strong economy, and below average unemployment (8.3%).
- Laws – After the 1980s real estate bust, Texas enacted laws to keep investors from taking advantage of the real estate market. Plus Texas has “tight limits on home equity lines of credit” helping to keep foreclosure rates lower than most.
- Taxes – Since Texas is one of the few states that taxes property, but not income, demand for high priced homes (with high taxes) is smaller.
- Supply – Thanks to the environment in which Texas home builders work, new home supply is pretty much in balance with demand – in Austin it’s a 3 months supply (other states have over 10 months worth). Additionally, Texas has not seen a glut in the lot market. For example, in Austin there is a 37 months supply (24 months would be great – and Austin is seeing a decline in supply) – whereas cities like Denver and Phoenix have 90 months and 98 months respectively.
So, investors should take a look at new Texas home builders. And those interested in purchasing a home in Austin should find more confidence with data like this.
Please let us know if we can help you with an Austin real estate purchase or sale. Our professional REALTORS are ready to serve you! Call Reilly Realtors at 512.600.1800.
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