Austin, TX Real Estate News

By John Dunham, N Central Austin
(Juice RE Group at Compass)
Anxious. Confused. Thankful. Summer 2022 brought a lot of emotions as we faced some rather abrupt changes in our markets.  The first 5 months everything was moving quickly, multiple offers were the norm, and then the Fed jumps in raising interest rates. QUICKLY!  Buyers begin to hit the pause button (but many were elated to land a home with reduced competition). Sellers started questioning why their homes were not selling in the first 48 hours, while the media fed a narrative that the sky is falling.ValuesJune shows a slight dip in values from April and May's peak. This is not a sharpe nose dive. We are still well ahead of last year's values. Buyers have more options with inventory levels rising, and absorption rates / buyer activity is not as robust as early 2022.  Be prepared, homes a...
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By John Dunham, N Central Austin
(Juice RE Group at Compass)
With inventory increasing by 15% last month, the options for buyers continue to increase. This is a welcomed relief for buyers who seem to be in a more reasonable market. The natural next thought here is what this means for sellers. For years, and especially during the pandemic, appreciation has accelerated at a rapid rate. Coupled with low interest rates and huge influx of new industry leading to what some have deemed a housing shortage, we've been in a seller's paradise. May and June have brought some measure of uncertainty around what sellers can now expect when selling their home and navigating the market seems to evolve weekly. There is continued doomsday talk however, let us look at the numbers:According to ABOR:"In the City of Austin, home sales in the first half of the year decr...
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By The Hoeke Team, Local Realtors® at EXP
(The Hoeke Team, Local Realtors® at EXP – Real Estate Agents | Listing Agents)
Sell House Fast For Cash AustinSelling a house is easy when you sell it for cash to a home buyer in Austin. Austin home buyers make you a fair offer for your home based on the current market conditions. All you have to do is accept or decline the offer and wait for a huge pile of cash in ten to fifteen days. Once you've sold your home for cash, you'll be relieved of the headaches and stress of dealing with potential buyers.Understanding Cash Home Buyers in AustinOne of the most important aspects of cash home buying is the lender. A good lender will make you an offer based on current market conditions. You can either accept it or decline it. In either case, you will receive a large sum of cash within ten to fifteen days. There are several ways to acquire a cash home buyer in Austin. If y...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
In Austin TX the monthly Transportation User Fee (TUF) funds street maintenance, repair and completes other activities necessary for keeping Austin’s roadways in good condition.The fee is paid through residential City of Austin utility customers. Did you know you could be eligible for an exemption if the person responsible for paying the utility meets the criteria of being age 65 or older OR does not own regularly use a private motor vehicle?For more information or to download the fill out the form, visit the website and then email the completed forms to TUexemptions@austintexas.gov
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
         Never too old to celebrate birthdays! My friend and I are Leo’s and like to celebrate our birthdays together during birthday month (Leos are known for their generosity of time, energy, respect, and money. As a result, Leos are attracted to others).This year we started a new tradition of dinner at Eddie V’s. We had so much fun we are definitely putting this on our calendar every year!Determine to live life with flair and laughter…….Maya Angelou
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
  It didn’t take long for this prized 5-bedroom, 3.5 bathroom with superior layout for today's needs to go under contract with multiple offers. One buyer definitely scored the jackpot!! Melissa Stout held this house open Saturday, July 16 and Sunday July 17 and had great turn outs on both days, even in the blistering heat!       Buyers loved the open, airy, and easy to care for white, vein rectangle tile and wood floors throughout.     The freshly remodeled kitchen scored high on everyone’s list with its new cabinetry with deep drawer storage, sleek modern hardware, granite slab countertops, stainless steel appliances, recessed lighting and more.    The primary bedroom and updated bath loved the location tucked away at back of home with secondary, extra, large bedrooms all found on the ...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
It’s hard to believe but July 7-13- 2022 has been recorded at Camp Mabry, as the hottest week-long stretch. This goes back to the 1890’s folks. The electrical grid races to keep up. Consumers are turning their thermostats up a few degrees to help and so far so good, thanks to the addition of two key renewable energy sources that are making an impact.According to a Texas Monthly article solar power is bailing Texas out this summer!  According to Andrew Dessler, director of the Texas Center for Climate Studies at Texas A&M the two key renewable energy sources that are contributing to the Texas power grid are solar and wind power. 25% of the renewable resources on the grid come from solar and wind represent the other three quarters.Our air conditioners have been humming steadily all summer...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
I have to admit I’ve had fun browsing in the Point Store in Active Rain! Who knew there could be so many exciting adventures offered? It was so hard to decide but I made my decision and now on to the second challenge in the Point Store July Challenge! I’ve come up with an exciting quest I can offer you in Austin Texas.If you like water sports, the lake and outdoor fun in the sun you are going to love giving this a try! My son-law Russell Stout after 30+ years in the mortgage and real estate business has found his passion and is making it happen! He started something new to keep him young and allow him time out of the office. He loves snow skiing and wake surfing but became obsessed last year with something new called e-foiling! What are e-foils? They are motorized surfboards with hydrof...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
          Melissa Stout just listed this prized 5-bedroom, 3.5 bathroom with superior layout for today's needs. Located in the prestigious and coveted Spicewood at Balcones Villages you will find beautiful and mature tree lined streets, large lots, side entry garages and custom-built homes.  View Melissa's exclusive Matterport Tour of the home.      Made for both entertaining and everyday living this home will make you feel like you hit the jackpot. Open, airy, and easy to care for with white vein rectangle tile and wood floors throughout. Freshly remodeled kitchen includes new cabinetry with deep drawer storage and sleek modern hardware, granite slab countertops, stainless steel appliances, recessed lighting and more.    Dedicated office has multiple uses as it includes a built-in des...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
June was another amazing month; Our NW Coldwell Banker office crushed it with an astonishing 29 agents eligible for the June Million Dollar Club by listing, writing business or closing sales of 1 Million or more! We are seeing a shift in the market with longer days on market, price reductions and not as many multiple offers.     It’s exciting to see everyone's hard work in servicing their clients. Our office closed 86 transactions for $57.4 million with an average price of $673,000 and 30 leases. We listed 61 homes for $58.5 million, with an average price of $959,000 and wrote 63 contracts for $47 million with an average price of $746,000 and wrote 47 leases! I'm tired just thinking about June's production.What’s interesting is in 2021 we listed 68 listings for 41 million and our averag...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
2 days on the market for this 2 story brick. This home didn’t disappoint the buyer audience with its sensible layout, wood flooring throughout the house and soothing agreeable gray pallet. The main level office especially appealed to the buyer, with its perfect location for Zoom meetings and private conference calls.    The buyer particularly fell in love with the living room, kitchen and dining spaces that easily blend, creating inviting spaces for gatherings with family and friends. They could picture their family (with two little ones) and friends enjoying the oversized, covered patio, overlooking the greenbelt.   They pulled out all the stops and made an offer my seller could not refuse after spotting the downstairs primary bedroom tucked away for privacy.   When the time is right, ...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
       The number of sales is lower than last year, but values are up (for the time being). Inventory is increasing and buyers are not absorbing the inventory at the same pace.Canyon Creek’s inventory has been less than 2 weeks and sometimes only days. We are now experiencing 1 month of inventory which is still far below a balanced market of 6 months inventory.Is there a slow down as we head into July? Yes….Seasonally we find July and August to be slower months and now more than ever buyers and sellers are off on vacation to escape our intense heat. Remember school is out and summer fun is needed by all!Interest rates are now playing a factor at 6%. Are buyers fatigued? Yes. There are local and national rumblings about a recession and talk of home values hitting new highs. We are seeing...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
     The sky is not falling as you can see from the June Sales report but there is an adjustment taking place, which needed to happen. Inventory is building, as interest rates are climbing. Free money could not continue with the ridiculous low rates. Inventory was bound to increase as sellers realized it might be the time to sell. 20%+ appreciation would not last forever. The headlines are showing alarming inventory levels but remember we have been looking at weeks and sometimes days at our inventory and now we are looking at months. In Canyon Creek’s case we are experiencing 1 month of inventory. 6 months is a balanced market, so it’s still a seller’s market. However, seller’s homes need to be priced at market value and be presented in the home’s best light. Buyers want an updated, cle...
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By John Dunham, N Central Austin
(Juice RE Group at Compass)
If you're scanning in to read this then you already know that June sales look.... ummmm ....a little crazy in Brentwood. Headlines all over the place are reading impending doom with rising inventory, leveling sales prices, and fewer and fewer buyers... so how did Brentwood manage to increase it's sales price and decrease its days on market? Three of the 9 sales in June were listed above $2,000,000 and closed quickly, which  significantly increased the overall average sales price in the area. While we have some beautiful newer construction set to close in July, I would not expect to see these higher than normal numbers next month.This begs the question, how are our signature bungalows holding up that define Brentwood and Crestview? Up until May of 2022, developers were gobbling up these ...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
It's Almost Independence Day! It’s that time of year again to gather with friends, family, and our communities to celebrate America’s birthday with picnics, parades, and maybe a sparkler or two. Wishing you a safe and memorable 4th of July!“The life of the nation is secure only when it is honest, truthful and virtuous.”    Frederick Douglass
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By John Dunham, N Central Austin
(Juice RE Group at Compass)
Everyone seems to have a prediction of what is happening and where things are headed. I don't have any more predictions right now, other than I believe in Austin, and the economic engine we have going right now with businesses and people continuing to move here.  There are a lot of factors playing into our current market conditions (which I discussed in last month's overview), and believe they will continue to influence the market.I have also noticed Austin feels crazy quiet right now. The other night I was rushing to see my daughter play basketball in Tarrytown, and I was able to fly down MOPAC at 6pm. There was absolutely no traffic on a road that is generally stop n go at that hour.  That doesn't mean all buyers are out of town, but it feels like more people are on the road early in ...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
The Most Fabulous Northwest Coldwell Banker office made sure our perky Shawn Hancock received her favorite Chic Fil A nuggets for her farewell luncheon! We’ve learned over the years that is the way to her heart! We are going to miss her smiling face; can do attitude and the wonderful technology support she has provided us all over the years. We are not saying good-bye but see you later! She might even be available for some private technology sessions. Who knows! This sums up our Shawn Hancock:“My mission in life is not merely to survive, but to thrive; and to do so with some passion, some compassion, some humor, and some style.”   Maya Angelou
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
It’s been a fabulous 19 years since my owners purchased this David Weekly popular “Overbrook" plan.” They loved the corner .22-acre lot, 3 car tandem garage and downstairs primary bedroom and bath.    Turning over the keys to a family moving from Dallas was a joy! The buyers fell in love with this light filled, open layout, vaulted ceiling in the family room and the extended patio perfect to relax with family and friends.    This young family said they want to raise their little ones and stay in this house another 19 years just like the seller. Being second owners of this priceless, well maintain home was of true value and why they bid over list price to obtain this home.   I love it when a home purchase is a perfect fit for both the seller and the buyer. The buyer’s agent was great to ...
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
Circa 1994…Honeymoon in Hawaii. Life is short. Love your people. Have fun. I’m so grateful I married my best friend, soulmate, my biggest supporter and inspiration. Your name is spoken often, your advice remembered, a Gene story recounted (almost daily). Can’t believe it’s been 34 months since you slipped away from us.So many blessings…what was... still is ♥♥
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By Dorie Dillard Austin TX, NW Austin ~ Canyon Creek and Spicewood/Balcones
(Coldwell Banker Realty ~ 512.750.6899)
Its birthday month for son John Dunham!  His sister Melissa, I and our lovely host Rachel Potgieter, Independence Title, had lunch at one of John’s favorite restaurants: Clark's Oyster Bar on 6th street in Austin. A great way to celebrate John's birthday! They are known for the VERY best lobster rolls and they live up to all the hype! Their oysters are also famous and are sooooo delicious! Cheers John....June is your month! "Do not go where the path may lead, go instead where there is no path and leave a trail."   Ralph Waldo Emerson   
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