Austin Modern Living

Austin Luxury Real Estate Market Up 50%

Tom Bates — Sat, 30 Mar 2013 14:51:37 +0000

Just a quick study here of the Austin luxury real estate market (homes over $1m): Last year in the first quarter there were 48 homes that sold by March 30, this year as of today, there have been 72 luxury homes that sold over 1$m, so 50% more. The average closed sales price to list price this quarter was close to 93% of list price, better than last year’s 91.75%. (Note, these numbers will change slightly as agents continue to update the MLS with Q1 closed sales data.) Ask anyone in the Austin luxury home sales market and they will tell you that inventory is low and multiple offers are back in fashion! (Here is a link to that report if you’re interested: Q1-2013 Austin luxury homes report.)

Wudjew Say Pardner?

Tom Bates — Sat, 02 Mar 2013 22:05:50 +0000

Pretty funny article from KUT News about Austin-speak.

And this massive thread from Reddit Austin is pretty informative and good reading. Keepin it weird ya’ll.

5 New Modern Homes in Travis Heights

Tom Bates — Sun, 03 Feb 2013 19:40:48 +0000

To fill a highly needed market gap, one of Austin’s top modern home builders is working on plans for 5 high-end modern homes in south Austin’s booming Travis Heights neighborhood. All homes will have 3rd floor balconies, tons of high end luxury finishes, wet room master baths, loft/game/flex rooms, walk in pantries, open living concept, 2 car garages and tons of modern style. Homes will be priced in the $500s and $600s, and will probably all sell pre-MLS if I had to guess. We do not represent the builder on these homes, so contact one of our Austin real estate agents for more information.

Austin Real Estate News: Summary Link

Tom Bates — Wed, 23 Jan 2013 21:39:48 +0000

Here is a good way to keep up with Austin real estate news from the Austin Statesman and Austin Biz Journals…this URL will update Austin real estate articles from both websites. Enjoy!

Austin real estate news

Austin #5 on Trulia’s 2013 Healthiest Housing Markets

Tom Bates — Fri, 21 Dec 2012 23:01:40 +0000

Been seeing a lot of national news about Austin’s real estate market being hot/healthy/etc compared to other US cities, here’s a link to a Trulia Pro Real Estate Blog – Austin article. Honestly, Austin does not have a lot of competition on this list, I mean I could see living in Seattle, but the others:
San Francisco? > hello ridiculous amounts of state taxes
Nebraska? > do what?
Ft. Worth, Houston, San Antonio? > no way, no way, no way

Austin Real Estate Market Up 23% in November: Statesman

Tom Bates — Fri, 21 Dec 2012 14:17:17 +0000

Austin real estate market jumped 23% in November over last November writes The Statesman. This article mirrors what we are seeing in our own office: buyers who see something they like need to be prepared, act quick and be realistic with offers. Many sellers are erring on the higher side of the appraisal range and getting their number…especially in closer in urban neighborhoods. Still, there are some good deals out there if you have some vision. Good luck buying and selling!

Austin Modern Home Tour

Tom Bates — Wed, 12 Dec 2012 15:20:58 +0000

Every year we help dozens of people with different levels of production and custom home building in the greater Austin area. By truly understanding what our client’s needs and architectural aesthetics are we help them through the process of custom home building. Several of our clients are also builders, and so we spend an absurd amount of time hunting for good lots to build modern homes on! But lot selection is only part of the equation, to build a custom home you need to assemble the right team first: an architect, a builder, a designer and a good Realtor to start with. It’s a team effort and we are proud to be a part of that team for many Austin area home owners and building clients. One of our recent clients who built this year is having her home featured on the Austin Modern Home Tour coming up on February 2, 2013 and I invite you all to come check it out. (Ours is 212 W. Live Oak in 78704.) And if you or someone you know is interested in building a custom home in the Austin area come find me or one of our other Austin Modern Living Realtors and let’s talk. (Oh, and happy 12/12/12 day!)

Austin Real Estate on the Rise

Tom Bates — Wed, 17 Oct 2012 16:27:02 +0000

Austin real estate continues to sizzle. Here is a good article from Shonda Novak at the Austin Statesman:
http://www.statesman.com/news/business/real-estate/austin-home-sales-sizzle-in-august-expected-to-sta/nSLYR/

Austin real estate by the numbers:

Austin real estate by the numbers:
2,397: Number of single-family homes sold in the Austin area in August
$212,000: Median home price, up 6 percent over August 2011
21 percent: Increase in home sales compared with last year’s figure
2,207: Number of home sales pending closure

Austin Real Estate News: Austin Homebuilder confidence reaches 6-year high

http://www.bizjournals.com/austin/news/2012/10/16/homebuilder-confidence-reaches-6-year.htmlAustin Business Journal by Jeff Clabaugh, Broadcast/Web Reporter Date: Tuesday, October 16, 2012, 12:13pm CDT

The National Association of Home Builders said its builder confidence index rose for the sixth consecutive month in October, gaining one point to 41.

Confidence among the nation’s homebuilders rose to its highest level since June 2006.

The National Association of Home Builders said its builder confidence index rose for the sixth consecutive month in October, gaining one point to 41.

Even so, any reading below 50 indicates more builders still view sales conditions as poor rather than good.

“Many builders are reporting increases in the number of serious buyers visiting their sales offices, and the overall confidence measure is much higher than it was at this time last year,” said the association’s chairman, Barry Rutenberg. “The concern is that, even though demand for new homes is rising, overly tight credit conditions are still constraining new building and new purchases.”

The biggest increase in the NAHB’s monthly survey of its members came in measuring traffic of prospective buyers, rising 5 points to its highest level since April of 2006.

An Austin-based homebuilding organization and advertising agency GSD&M are collaborating on a multimillion-dollar national consumer campaign to convince homebuyers across the country to buy new rather than buying a resale home.

Austin AIA Home Tour 2012 – Oct 6/7

Tom Bates — Mon, 03 Sep 2012 15:43:21 +0000

13 really cool Austin architectural homes will be open for the public at this year’s Austin AIA Home Tour taking place October 6 and 7.
More info and tickets here: Austin AIA Home Tour 2012

Austin AIA Homes Tour 2012

Downtown Austin Condos Prices 28% Higher

Tom Bates — Thu, 19 Jul 2012 13:45:46 +0000

Was working on some research this morning and thought I’d share this: The average sales price for downtown Austin condos for the trailing 12 months 7/20/12 was $451,435 which is a 28% increase. Part of that increase is from some high dollar closings at The Austonian and The W Austin…there were 5 closings between $2.3M – $2.75M. Highest price paid for a downtown Austin condo was a whopping $756.53/sf. Average prices have increased 53% since same period 2005. Austin condo realtors