Before you begin your Austin home search, it is important to understand the climate of the market you will be buying in.  Inventory is at a 3 year low and competition is fierce for homes in many Central Austin Neighborhoods.

The Austin board of Realtors released sales data yesterday, summarized in an Austin American statesman article below.

“Home sales in the Austin area rose 10.4 percent in January compared to the same month in 2011, marking the eighth straight month of year-over-year sales increases, the Austin Board of Realtors said today.

The board said 1,051 homes were sold in January, compared with 952 in January 2011. 
January’s median sales price was $176,550, down 7 percent from a year ago. By another measure, home sold for $107 per square foot, down 5 percent from the $112-per-square-foot sales price in January 2011.

“It is encouraging to see last year’s momentum continue into the new year,” said Leonard Guerrero, chairman of the Austin Board of Realtors.

January was the eighth month in a row that the supply of homes has decreased from the prior-year months, according to the board. The Austin market had 4.1 months of inventory in January — 1.4 months less than January 2011 and the lowest inventory level since the board began tracking the statistic in January 2009.

There were 6,557 active listings in January, 19 percent fewer than January 2011. Pending sales were up 16 percent, with 1,638 homes in the pipeline to close, the board said.”

While the statistics say prices are going down, I can tell you from first hand experience that prices in many central neighborhoods are being forced upwards.  Listings priced well in popular central Austin neighborhoods are receiving multiple offers in just days on the market with some selling 5-10% above the list price.  In fact some out of town buyers with out the luxury of living in Austin are making offers site unseen!  The hot neighborhoods include Bouldin Creek, Clarksville, Tarrytown, Barton Hills, and Central East Austin.

In a highly competitive market such as central Austin.  It is more important than ever to have an expert Realtor guide you through your Austin home search.  Call an expert at the Carvajal Group today at (512)496-0215.

What would you say if I told you that if you pulled the trigger on your home search today I could save you over $250,000 over the duration of your loan? I’d guess that a large percentage of you would consider making that purchase and, at the very least, 100% would want to hear how this was even possible. So let’s cut to the chase, it all has to do with interest rates and, more specifically, taking advantage of the tremendous buying opportunity at hand.

For the sake of this argument we’ll use a $300,000 sales price as the base for our example home search. With a conventional loan of $240,000 (20% down) at the current rate (4% for this example – although I have seen people lock at mid-3’s recently) your monthly mortgage payment – with principle, interest, tax and insurance included – comes in just slightly under $1,600. The average interest rate over the past 30 years is 8.74% (source: Freddie Mac) and when applied to this same home search example yields a monthly payment of roughly $2,350. That is a whopping difference of $750/month or $9,000/year or, even more staggering, $270,000 over the 30-year term. Over a quarter of a million dollars saved just because you made the decision to do what most American’s are intimidated by at the moment and you purchased a house. Savvy move.

Rates haven’t been this low since JFK was President and it is probably the only healthy byproduct of the housing market collapse. True, banks are being stingy with who they lend to these days but if you work with the right agent (I know a guy) and they guide you properly then you will be one of the fortunate few to look back and say that you took advantage of what is truly a once in a lifetime opportunity.

If you’d like more information on Austin Real Estate or assistance with your Austin home search, please call me at (512) 516-9110.

2209 Hancock Drive Unit 16 also referred to as Ventana Condominiums is a wonderful gated community in the heart of central Austin.  Located a few miles north of downtown Austin, the 40 unit complex is constructed of stucco and stone with a metal roof for low maintenance and aesthetic appeal.  This complexed was constructed in 2000 and has been impeccably maintained since its inception and accented with beautiful landscape and greenery.  There are a total of 3, buildings, 2 being 3 story and 1 being 1 story and this particular listing is on the third floor of building 1.

Ventana #16 is a very large 1 bedroom 1 bath, 713 sq ft, well laid out unit.  This unit was fully upgraded in 2007 with beautiful hardwood floors, ceramic tile in the kitchen and granite countertops and stainless appliances suitable for the pickiest buyer.  Different than most condo units, this particular unit does have natural gas and a gas stove.  The level 2 granite is of wonderful quality and includes an in-laid sink giving it a true luxurious appeal.  This unit also has a utility closet with full size washer and dryer connections and included in this sale is a nice washer and dryer set.

Step outside on this oversized private balcony that faces towards beautiful west Austin which offers a beautiful hill country view and an abundance of gorgeous trees and lanscape.  These balconies have recently been redone by the HOA and large enough space to sit outside and enjoy the outdoors.

The master bedroom has a very large west facing window allowing for plenty of light in this large room which will easily fit a queen or king sized bed.  The large walk-in closet offers plenty of storage space and room for any shoe collector.  The large bathroom has a door way off of the master as well as an entrance off of the living room making it easily accessible to guests as well.  This unit has granite counters on the vanity and a stand-up shower/tub combo.

Aggressive financing and low rates allow you to buy this place with 5% down and keep total payments under 1200/month, which is less than you could rent this property for.

If you are in the market for a low maintenance, affordable piece of Austin real estate or if you are looking to own a second home to stay at when you come visit, be sure to add 2209 Hancock to your Austin Home Search as you will not be disappointed.

For more information or to schedule a private showing contact me at (512) 786-1515.

The house is situated almost square in the middle of the 1 acre wooded lot. The front yard is mostly flat dotted with mature trees and native landscape offering plenty of room for family football game or epic Easter egg hunts.  The backyard is an oasis of natural hill country landscape but fully fenced for the safety of pets and children.  First and second level decks overlooking the back yard allow for enjoying a glass of wine as the sun sets over the mature Oak trees.

The home is stone on all sides with a metal roof that will last forever.  Originally built in 1982 and extensively remodeled in 2006, improvements include redesign and opening of kitchen with granite counter tops, new cabinets, and top of the line appliances.  Hardwood floors were installed through out the first level,  the half bath was updated and beautifully appointed,  and the den was converted into and a guest suite with a separate entrance and  full bathroom.  2006 also brought the addition of the front porch  and new front doors which greatly bolster the curb appeal.  An outdoor kitchen and patio dining area were also added.  Very little went to waste in the remodel as the old kitchen cabinets were put to use and the laundry room and the original front doors were installed on the outbuilding.

The extremely functional floor paln boasts 3734 sq. ft. 5 bedroom, 4.5 baths. The first floor of the home features the gourmet kitchen open to one of the two living rooms, formal dining with pocket doors, and the guest suite perfect of visiting in-laws or kids home from college. The two living areas are separated by a 2 sided stone fire place. Floor to ceiling windows throughout  flood the first level with natural light and blur the line between indoor and outdoor living.

As you take a left at the top of the stairs, you enter huge master suite with a ample closet space, double vanity, jetted tub, a separate steam shower, and direct access to the second floor patio.  The third and forth bedrooms offer plenty of space and are adjoined by a Jack and Jill bathroom. The 5th bedroom also has direct access to the second floor patio and an adjacent full bath.  The laundry room is also on the second floor, negating the need to haul laundry baskets up and down the stairs.  All carpet has been replaced upstairs in favor of hand-scraped style flooring.

3400 Beartree Circle offers a superb location less than a half mile from Lake Austin and Ski Shores Cafe.  It is a just a short drive to  boat ramps at Emma Long Park and plenty of room to keep you boat on the property.  The neighbors are friendly take good care of their homes are  but there is no a mandatory HOA.  At $599,000 or $160 per sq. ft. there is nothing that compares in the area.  New construction homes sell in adjacent Greenshores on Lake Austin and Oak Shores on Lake Austin sell for $200+ per square foot.  This property truly is a unique piece of Austin Real Estate offered at an amazing price!  Please call me at (512)496-0215 to schedule a private showing or to start your Austin homes search.

Most home searches are high-energy experiences as buyers envision specifics and have a hard time with anything that appears outside of their criteria match and Austin home searches are no different in that regard. With a wide range of housing styles from new builds in larger developments to some of the more character oriented houses of the 1950′s and 60′s – there is definitely an expanse of preference. When searching for a home it’s important to prioritize your purpose. Is this an investment property – do you see yourself living here for a short period of time and then leasing or selling in an attempt to net a profit? Is this a long term investment – have you found the house you plan on dropping anchor in for the next 10-15 years? Whatever the reason for the purchase, keep the focus on the main principles of why you are performing this home search in the first place. Generally speaking most home searches (again a Austin home search is no different) the idea of buying something that doesn’t immediately wow you is incomprehensible – but consider the priorities at hand and know that every possible problem has a solution. Work with your  Austin Realtor and discuss every avenue from renovations to expansions before crossing a potentially valuable property off your list. If the bones are there, the area is right and a high percentage of your priorities are met – don’t let the blue carpet get in the way of buying a perfect fit.

If you’d like more information on Austin Real Estate or assistance with your Austin home search, please call me at (512) 516-9110.

To find Austin real estate that feeds into a particular school or district or for assistance with your Austin Home Search,  please contact the Carvajal Group today at (512)419-7770.

E=Exemplary   R=Recognized   A=Academically Acceptable   U=Unacceptable   O=Other/Not Rated

This year’s drought taught us all the value of constant level lake as we saw Lake Travis water levels fall to historical lows, limiting access and significantly decreasing the value of waterfront real estate.  As you know, Lake LBJ is a constant level lake meaning the water level stays relatively the same all the time, no matter the environmental conditions.  This means that homes can be built right up to the water with fixed boat houses for easy access and low maintenance.

414 S. Shorewood is the perfect low maintenance waterfront real estate investment that is affordable and ready for fun in the sun.  The home is constructed of limestone rock and has a metal roof for low maintenance and last quality.  51 ft of open waterfront footage offers the perfect amount of frontage without the overwhelming tax burden.  With a nice yard in front of the lake, you have the flexibility and space to enjoy Lake LBJ, all year around.  There is a two car, covered carport plus an additional lot across the street, that conveys with the sale, giving this waterfront home for sale ample storage space and an abundance of guest and family parking.

Come take a look at this affordable piece of Lake LBJ real estate as I know you will not be disappointed.  Great value, great price and great amenities make this the perfect getaway and an even better investment.

Call me today for assistance with your Austin Home Search or to schedule a private viewing at (512) 786-1515.  Click 414 S. Shorewood for more pics and information.

This Austin home has an incredible back yard complete with multiple wood decks and patio areas plus a must see “man cave”.  This “man cave” has a window HVAC unit making it a perfect hangout or studio for the Austin musician.  There is also a one car, attached garage with full size washer and dryer connections.

If you are in the market for a wonderful home in the heart of Barton Hills, be sure to add 2007 Arthur to your Austin Home Search, because you do not want to miss out on the excellent piece of Austin real estate.

For assistance with your Austin home search or to schedule a viewing contact me today at (512) 786-1515.

Zilker real estate

South Shore/Parker Lane: often referred to as Travis Heights East.   The Austin American Statesman featured an article about this area last Sunday, but the savvy agents at the Carvajal Group were already a step ahead of them, sending a marketing blast to property owners the week before.   With the revitalization of E. Riverside Drive this area  should see an increase home values in the near future.  Recent and ongoing development include the opening two music venues, the Beauty Ballroom and Emo’s East, and two new luxury apartment communities, the Amli Southshore and  RiverView(under construction).   Homes in fair condition can be bought under $140/sq. ft. compared with $275 to $300+ per sq. ft. just across the highway in Travis Heights propper.  Most of the homes is this pocket are well maintained, particularly in the Mariposa Heights Subdivision.  The proximity to downtown and space for the money are unmatched. (Search this area).

Holly Street:  East Central Austin as whole has appreciated rapidly over the last 15 years. There are still many urban infill development projects going on and the Holly Street neighborhood is characterized by early to  mid century cottages mixed with modern new construction.  should see a boost in value with the Holly Power Plant being decommissioned and a 9.5 acre park taking its place to beautify the area over the next few years(Search this area).

I believe home prices in Austin as a whole will start to rise in 2012 as professionals who have relocated here begin to buy.  It has been well documented that we have a shortage of rental properties and that rents in Austin are at all time highs.  Renters who are able would be wise to consider buying before increased demand drives prices up. In my opinion, The Holly Street and Parker Lane neighborhoods are two of the most attractive 3 to 5 year plays for appreciation.

To begin your Austin Home Search or for more information on Holly Street, Parker Lane, or other Austin neighborhoods, call me today at (512)496-0215.

The Orange Tree Condominiums are a large garden style condominium complex just steps from the University of Texas in the heart of West Campus.  Orange tree consists of studio, 1, 2, and even a few 3 bedroom floor plans.  There were a total of 8 units sold in 2011 summarized below.  You can also click here to see units currently available for sale and add them to your Austin Home Search.

Located at 2529 Rio Grande in Austin, TX, Orange Tree is superior to many other West Campus condominium complexes for several reasons.  The HOA has been pro-active in maintaining the exterior and structure.  In fact, a $1 million + exterior renovation was completed in 2005.  Even with the recent renovation, reserves remain healthy and the HOA dues are relatively low at around $.022 per square foot.

Orange Tree is attractive to both investors and owner occupants and is a great piece of Austin real estate.  As rents continue to rise in central Austin, parents see the value in purchasing a property rather than throwing thousands of dollars away on rent.  Investors like the complex because these units always stay rented for top dollar. Current market rents for Orange Tree are detailed below:

Studio:  $800 to $900

1 bedroom:  $950 to $1250

2 bed, 1 bath:  $1250 to $1500

2 bed, 2 bath: $1600 to $1900

3 bed, 2.5 bath:  $2200 to $2600

For more information on Orange Tree Condominiums, West Campus Real Estate, or to begin your University of Texas Real Estate search  please call (512)496-0215.  We have sold 2 units in Orange Tree more quickly and at a higher price than comparable units sold in the same time frame.  We are your experts for purchasing or selling UT area real estate so let us assist with your Austin Home Searcg!