Austin Lovin’ in the New Year

Lifestyle, Real Estate, Real Estate and Lifestyle

The New Year began with a bang here in beautiful Austin, Texas as the moving trucks continue to roll in with home values on the rise.

Reflecting back on 2015, home prices and the number of home sales set all-time high records, and with job and population growth expected to continue at strong pace, 2016 is projected to be a rosy year in the Austin area market.

Pedernales Lot (5 of 7)

I suppose that when you’re negotiating multiple offers on a waterfront house on Lake Travis on Christmas Eve, then writing two more offers your first week back in the office post holidays, its a sure sign of growth and economic strength in this magical city.

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North Shore of Lake Travis while out previewing homes for a client :: December 2015

If you haven’t spent much time enjoying the beautiful landscape of Lake Travis, do yourself a favor and get out there! The rolling hills, expansive green space and the 228 days of sunshine that Austin reportedly gets per year make for an incredible, breathtaking landscape!

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Lake Travis Sunset from Lucy’s Fried Chicken :: December 2015

There are a few good places to enjoy the view on the South Shore, and Lucy’s Fried Chicken is a good stop to make. They have plenty of outdoor seating, live music, a nice selection of cocktails and of course, chicken. The panoramic views from this spot are indescribable, especially at sunset.

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Lake Travis Sunset from Lucy’s :: December 2015

Lake Travis’ North Shore is equally as beautiful, but if you’re traveling from Austin, the drive is a bit longer. On either side of the lake there are great nature trails to hike, gorgeous photos to be taken and many opportunities to immerse yourself in the true beauty of our wonderful city.

Until next time,

Hope

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Market Snapshot + Austin Summer Fun

Real Estate and Lifestyle

Despite the constant rain, it  has been an incredibly busy selling season here in Austin. Both April and May set new records for median and average home prices, and the average time on market per home is only two days!

Sculpture Falls via Barton Creek Greenbelt Trail System

Sculpture Falls via Barton Creek Greenbelt Trail System

According to the Austin Board of Realtors’ May housing report, the median price for Austin-area single-family homes increased nine percent year-over-year to $271,000 in May 2015, while average price increased seven percent to $348,201.

While it is an exciting time to be investing in Austin real estate, buyers are facing major frustrations. In many cases, when a house hits the market in your target area and price range, you need to be there that very same day or it is an opportunity lost. And if you like it, you need to be prepared to bid against the other 50 people who like it, too!

Blues on the Green with Jimmie Vaughn :: Summer 2015

Blues on the Green with Jimmie Vaughn :: Summer 2015

With only 25 percent of single family housing options in Central Texas below $200,000, affordability is still a growing problem in our market.

Difficult as it may be, there is a bright side for shoppers in that corner of the market. Local real estate and financial analyst, Mark Sprague, shared a glimmer of excitement for  buyers in that price range in an economic forecast he delivered in April. Sprague explained how buyers under $300k will see the greatest and fastest appreciation of any price point over the next several years, as it will serve as an entry point in our market for first time home buyers and the like.

Campbell's Hole :: June 2015

Campbell’s Hole :: June 2015

In the midst of my crazy real estate driven life, I try take advantage of every opportunity I have to explore and experience my beautiful city. After all, Austin is SO much fun in the summer! Of the minimal sunny days we’ve had, I managed to make it out to Sculpture Falls via the Hill of Life trail entrance one Saturday, and to Campbell’s Hole via Barton Skyway the next.

I love Austin swimming holes!! And with all of this rain, the water is amazing on a warm day. The energy is always vibrant with live music, laughter and a shared sense of appreciation for the natural beauty surrounding us all. I can’t get enough!

If you want to know how to access a particular spot, or if you just have general questions, give me a shout!

xo,

Hope

Market Update

Real Estate

Well friends, I can sum this post up for you very succinctly:

This market is just plain crazy!

Frost Tower photo I grabbed while at SXSW.

Frost Tower photo I grabbed while at SXSW.

The dirty details??

Well, for the fourth consecutive month, both the average and median home prices in the greater Austin area rose, closing out March with an average over $336k and median at almost $256k. Homes are moving very fast, too! The average time on market was less than 15 days for single family residences, and in total, March saw 2,300 home sales close!

A Sixth Street shot I took last spring.

A Sixth Street shot taken last spring.

While we are seeing many new listings enter the market with the Spring season in full swing, demand is also growing so inventory levels remain low.

Job growth in the area is still strong, and Austin was recently listed as the number one tech city in the U.S. by Savills Plc, a consulting firm based in London. An article in the Austin Business Journal sums it up here:

“Using five metrics such as property prices, talent pool and quality of life, Austin beat out tech hotbed San Francisco and rated No. 1 in the overall ranking of 12 cities, the Wall Street Journal reported. ”

Live music at Austin's Barton Creek Resort & Spa shot last Spring.

Live music at Austin’s Barton Creek Resort & Spa shot last Spring.

Austin is rocking and rolling– and in more than one sense of this phrase that currently seems to epitomize the World’s Live Music Capital in so many ways.

The real estate market is beginning to drive me a bit crazy though. I’m writing several offers a week– almost always at least a few thousand over the asking, and it is still a challenge. Lately, the work never seems to end.

Fortunately, there is an adrenaline that accompanies this craziness. So my friends, until next time, I’ll be running around like a little chicken– meeting myself coming and going. Oh, and trying to catch some of Austin’s Fashion Week!

XO,

Hope

Market Update: Let’s talk numbers!

Real Estate and Lifestyle

While January proved to be a strong start to the new year, the real estate market has since gained momentum at a lightning fast speed! In the last seven days, I’ve written four offers– three of which were in multiple offer situations, and we are only entering the busy season.

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It’s a good thing I don’t mind living, breathing and sleeping real estate, because I’ve literally been dreaming of client meetings and winning out crazy multiple-offer bids whilst jaunting around town making dreams come true by slingin’ real estate!

We are still waiting on the full analysis of February’s numbers from the Austin Board of Realtors, but January looked a little something like this:

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  • 1,547- single-family homes sold
  • $240k- median price for single-family homes
  • $310k- the average price for single-family homes
  • $480 million- total dollar volume of single-family properties sold, up 27% from January of 2014 (WOW!)shutterstock_130101671

With job & population growth still on the rise, it is a very exciting time for buyers to be investing in Austin real estate!

Until next time, I’ll be running around like a crazy person trying to accommodate all of my buyers and maybe fitting in some SXSW fun too!

XO,

Hope

Your Austin Area Market Update

Real Estate

The year has begun with a bang here in Austin, setting the pace for what economists predict will be another great year in real estate, and Your Austin Area Home Team is excited!

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Austin’s Iconic Frost Tower

Despite December’s holiday-bustle factor, homes sales remained strong last month, setting the record for an all-time-high with almost 2,300 home sales and a median sales price of $246,530 for the Austin metro-area. That momentum carried us into a robust January, and there is no end in sight. I was literally negotiating on a multiple offer situation while at a wedding on New Year’s Eve! We submitted a clean, strong offer, won the bid and executed on New Year’s Day.Yes, I am dedicated to my clients no matter what is going on, but talk about a great way to start the New Year!

View of the Capitol down Congress Avenue

View of the Capitol down Congress Avenue

In a nutshell, 2014 looked a little something like this: Around 66,000 people moved into Austin, and over 39,000 jobs were added to the economy. Our strongest economic drivers were (and still are) population growth, technology and enterprise, the education and health sectors, and of course, the value added from our world famous festivals. SXSW, ACL, Fun Fun Fun Fest & F1 + many, many others contributed over $1.4 billion to Austin’s economy over the last two years alone. Collectively, these factors made 2014 a great year for Austin Real Estate. Check out the year’s stats in the graphic below.

Austin Area Market Stats for 2014

Austin Area Market Stats for 2014

Local economists are predicting that another 69,000+ jobs will be added to the economy in 2015 & 2016, and population growth will likely correlate directly. We are still facing the same housing obstacles that 2014 encountered– low inventory levels and affordability, but considering the simple supply and demand principle, 2015 will be another stellar year for the Austin real estate market.

If you know anyone thinking of buying, selling or leasing in the greater Austin area, give me a call or just send them my way! Always happy to help!

Happy Thursday!

Hope