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IMO....the state of the Austin market is uncertain and unknowable. It's safe to assume that all homeless people WANT to buy a home, but they dont have the down payment or the credit score. Because a random apt dweller wants to buy a home does not necessarily mean that they can buy one if interest rates drop one-half percent. And there is the overall economy to think about. The tide lifts and lowers all boats. My wife and I are looking to buy in the Hill Country, but we are betting that time will yield falling prices. It is a hunch and a bet. We'll see how it pays, or not.
It's been dead AF in Kyle/Buda/San Marcos. Only new construction is selling, and resale under $400K. Everything else has been sitting for well over a month and in many cases, over three months. Granted there definitely are some overpriced houses, though. We can't even get any low-ball offers, nevermind one at asking.
Fear mongering can and will impact the market. If the narrative is “Austin is crashing” then people will not buy, this turns into a self fulfilling prophecy.
I'm searching for a 4-5 bedroom house (built or to be built) - Ideally high ceiling in living area, with a minimum sqft of 2800-3000 in the budget of $500K or less. We love DS new master planned communities. My preferred location would be either Lakeway or DS or any community with feel of green/hills and with a focus on great school districts, especially elementary schools. I'm interested in new construction or homes built after 2020. Can you suggest some options?
I am not sure, but what I see it that inventory in Austin is still going up. For the first time since I have the data we have an inventory for sale of over 5700 homes (source Zillow). ABOR will have a different number but I guess it is also record high. Most likely high insurance is maybe one of many reasons why the inventory is so high. It adds running costs.
@@JeremyAKnight even though when you google it the results are “as of June 2024 the median price of a home sold in Austin was 564,000, according to Redfin, which is a 6% decrease from the previous year”
@@o-o5866 The data you are looking at is considered MSA. That's how Redfin reports. prices are still higher than last year. You look at the MSA. Yes, it's down. But you have 5 counties in that number.
In less than 2 years there will be a shortage of new construction due to Builders pulling back. Prices will then once again rise. Right now is the best time to buy.
Those caught sitting on their property not selling need to be told up front that's not how you do business. I understand "it's my Family Farm" but if it's not sitting on these things is the worst idea ever #house_flipping_disasters
My neighbor left Lagunas Beach five years ago. She hates Austin, and agrees that realtors who pitched big marketing campaigns in California oversold Austin and Texas. Now, they’re stuck here, although living in a custom home one of the best communities Austin has to offer.
I am not impressed with Torchy Taco bc the meat was stringy and unchewable last time I had it, which was recent. I had one beef and one chicken fajita taco. I'll definitely have to try Taco Deli. Hopefully the quality of the meat is better.
I know a few people who live in new-er housing developments (2015-2020) who are having major quality issues with their homes now. Do you have any local developers you think are above reproach? How do you advise buyers to avoid "lemon" houses?
Having a good inspection helps, yet isn’t the only way. We’ve worked with so many builders it’s easy for us to know who to look out for. It all comes down to the project manager.
You keep saying "tons of incentives" - can you explain in more detail what type of incentives are being offered by the new developments? Aside from percentage points, what is being offered (and are any not worth the hype)?
We looked at couple of neighborhoods and builders are not in a hurry to sell houses where the construction has not started. They do have incentives but nothing is negotiable. Are you seeing the same?
Austin is similar to San Antonio in that there is 1 vacant quick move in home per 700-800 residents while other similar sized cities are Baltimore 1 per 8000 residents, Riverside 1 per 3100, Vegas 1 per 3400
