Furnished Townhouse for Sale in Northwest Hills
August 31, 2017 by Laura Duggan · Leave a Comment
Introducing for sale, a one-of-a kind townhouse in Northwest Hills at Chimney Oaks Townhouses across from Doss Elementary School and within walking distance to coffee shops, restaurants, gym, pool, library, grocery, post office, medical, bus and UT shuttle. Located in a small community of 21 townhomes, this 2 bedroom, 2 bath, 2 living area residence, just over 2100 square feet, has been recently updated and is being sold with the furniture. With a contemporary vibe, and a courtyard entry, this townhouse has good privacy and a great floor plan making it one of the best opportunities to own a wonderful property in Northwest Austin. Offered for $450,000.
We will be having an open house at Chimney Oaks Townhouses at three of these townhouses on Sunday, September 3rd from 2-4, and we invite our friends to come take a look at them. We will be hosting 3950 Far West, 3952 Far West and this one at 3936 Far West. Prices range from $399,000 to $799,00. Any of the three would be excellent for someone relocating to or within Austin. The schools, Doss Elementary, Murchison Middle School and Anderson High School are some of the best schools Austin has to offer and the neighborhood is one of the most walkable in the area. Anderson is the only International Baccalaureate school in the district. Park outside the wrought iron gate and follow the sidewalk into the courtyard. Your hosts will be Laura Duggan, Kerry Cameron and Ted Smith.
Submitted by Laura Duggan, West Austin Properties, 3312 River Road, Austin, TX, 512-750-2425, laura@westaustin.com
Number of Homes for Sale Increases in Austin
May 19, 2017 by Laura Duggan · Leave a Comment
While the demand for homes and home sales have remained steady, the housing inventory in Austin is growing. That is good news for Austin home buyers.
The number of homes that sold from January 1 through April 30 (4 months) during 2017 was very close the the same number of homes that sold in the same period in 2016.
In April 2016, 2474 homes sold. In April 2017, 2445 homes sold. Pending sales in April, 2016 were 4746 and in April, 2017 there were 4,485, a decrease of 5.4%.
But, one of the biggest differences in the Austin market, however, is the increase in the number of homes for sale. Last year at this time there were only 5923 homes on the market. This year during the same period, we have 7,099 homes for sale, an increase of 16.57% from last year.
In the price band between $200,000-$400,000 there were 1288 homes for sale a year ago. Today, in the same price range, there are 3,113 homes for sale, an increase of 142%. In the upper end market, in 2016 there were 750 homes for sale over $1M. Today, there are 810 homes for sale, an increase of only 8%
The increase in inventory is good news for buyers! Last year we were scurrying to find homes before they hit the market. Our buyers were competing with multiple offers on every home sale and we saw homes sell for as much as 10% over the list price. More inventory means a little less competition and home prices stabilizing.
Every market around the Austin area is different depending on the price band and the location. Watch our market report each month that breaks sales down by price and zip code. For instance, in zip codes 78727, 78739 and 78749 the average sold price was ABOVE the average listed home price. In other zip codes, the sold price was usually 2%-3% BELOW the list price.
Submitted by Laura Duggan, Broker/Owner, West Austin Properties, 3312 River Road, Austin, TX 78703, 512-750-2425, laura@westaustin.com
A Strong Austin Real Estate Market Continues
April 21, 2017 by Laura Duggan · Leave a Comment
The Austin Market remains STRONG OVERALL.
Last month, in March, 2,418 homes sold in the Austin area. This is 1% less than 2016. To understand the overall picture, you need to know that for 2016 and 2017 the number of March sales was significantly higher than the previous 7 years. Demand overall remains strong, however, it varies by Price Bands.
There are 13.21% more homes for sale than last year at this time providing more opportunity for buyers. This is good news for buyers who’ve been waiting to dive in and buy a home, especially with the sharp increase in rental rates over the last few years. In many cases, it is less expensive to own than to rent.
The Median home price sold during March 2017 was $296,000, an increase of 5.1% in one year. The prior year the Median price increased 6.7%. Home values have increased nearly 12% in 2 years.
Demand and supply are impacting sellers depending on the Price Band. Homes listed under $400,000 are in an Extreme Seller’s Market and values are increasing. Homes over $2 million are in an Extreme Buyer’s Market and prices are overall stagnant or declining slightly.
In this high demand market, some sellers have a good idea of the value of their homes and some are overestimating their home’s value. For instance:
• Homes that sold in March under $300,000 were on average, originally priced within 5% of sold price with few price reductions. Homes in this price range are more easily matched to current sales in the neighborhood so value can be more accurately determined.
• Homes priced between $700,000- $800,000 and also homes priced between $1,000,000 -$2,000,000 had the highest percentage of price reductions. Probably indicating the homes were initially priced higher that the market was willing to pay.
• Homes overpriced by 10% or more remain on the market longer, generally require only cash offers because these homes will not appraise at the value requested and usually sell for LESS than market value after price reductions.
Every home sale and purchase is influenced in unique ways depending upon the conditions of the home and the supply and demand.
Take a look at our latest market report to see the all of the statistics by area and price band.
Submitted by Laura Duggan, Broker, West Austin Properties, 512-750-2425, laura@westaustin.com
The True Value of Your Home
November 25, 2016 by Laura Duggan · Leave a Comment
Lots of people these days rely on “real estate” websites to determine the value of their home. The trouble is most of these sites don’t have access to the data they need to give you a true assessment. In fact, most of them are not even in the real estate business. They are just aggregators of information that they scrape from a variety of sources. Real estate is definitely local and values can change even from street to street for a wide variety of factors. Only those real estate professionals that are in the market daily serving buyers and sellers can give you the most accurate and timely information about the value of your home. That is our training. Don’t rely on data aggregators who aren’t even in the real estate business to “price” your most valuable asset. You won’t get the best information.
Each month, West Austin Properties, publishes a real estate market report detailing the sales statistics around the Austin area. We deliver the statistics by price band and zip code so that you can see what’s happening now in your neighborhood and across the city. We also have prior reports posted so you can spot the trends as we see them and review the historical data about the best time to buy and sell.
For the most accurate assessment of the value of your home, let us schedule a time to view your home and talk with you about its features and benefits. Only then can you get the most accurate accounting of your home’s value.
Laura Duggan, Broker/Owner, West Austin Properties, 3312 River Road, Austin, TX 78703, 512-750-2425, laura@westaustin.com and Katy Freshour, Broker Associate, 512-826-4316, katyfreshour@gmail.com
Relocating to Austin? We Can Help
September 27, 2016 by Laura Duggan · Leave a Comment
At last count, 130 people a day are moving to Austin. Some rent and some buy homes, but all have the same concerns and needs. Top considerations are affordability, safety, good schools and commute time to work. Most are also looking for community. People want to walk or bike to parks, coffee shops, restaurants and shopping, and they don’t want to spend hours in their cars getting to and from work. The key to a good relocation experience is a good real estate team who can help sort through the data and help you make the best decisions for your family.
A good real estate professional will listen to the needs of each client relocating to the area and help them make a plan for their move. We put our plans in writing with a timeline and schedule so that the relocation is a smooth one. By coordinating with the Realtor in the previous city, we can time the marketing and closing of the client’s current property with orientation visits followed by the home buying trip on this end so that the process is seamless.
It requires a great team in place on both ends to make that happen. On both ends, a seasoned Realtor who knows the market and can negotiate the best outcome is an essential. We belong to an elite network of agents who provide outstanding service that gets top results, so ask us for a recommendation. A trustworthy and honest lender is also required—one who has competitive rates, in-house underwriting and processing, an approved list of competent and local appraisers and one who can deliver the loan at the quoted rate for an on-time closing. No one wants to sit in a hotel room waiting on a loan to be processed that was supposed to close three days ago. Yes, that can and does happen if you don’t have the right lender. We have a list of preferred lenders based on the types of loans our clients need. We chose them because of their honesty, their service and their track record for getting the documents to closing on time.
Many others on the team we’ve assembled make a difference too. By the way, we are not compensated in any way from any vendor that we recommend. We use them because they are experts in their field and have served our clients well time and time again. Any benefits or bonuses are passed along directly to our clients for their use and enjoyment.
There are lots of moving parts in a real estate transaction, especially when you are moving to a new city and don’t know the professionals you’ll need to make your move a success. As natives of Austin, we can help you narrow down the areas based on your needs and provide you with information about schools, neighborhoods, and your unique interests. We can also suggest the best inspectors, engineers, architects, designers, builders, electrician, plumber, roofer and other service providers. We are your keys to the city.
Yes, we’ve even stood in line in the pouring rain at 5:00 am to get a client’s child into the preschool they wanted. The bottom line is that we do whatever it takes to meet our client’s needs and make them feel welcome. We’ve hosted new families for Thanksgiving dinner, hosted bed and breakfast at our home, taken meals on move-in day, done a million airport runs, boarded pets and tended to medical emergencies. We love what we do and are happy to serve. It is our pleasure!
Laura Duggan, West Austin Properties, 3312 River Road, Austin, Texas, 78703; 512-750-2425; laura@westaustin.com
