Real Estate – Austin Properties Group

Eco-Friendly Living in Austin, TX

As we jump into May we hope you’re soaking up some of that famous Austin sunshine. If there’s one thing Austin, TX really does well it is outdoor living! Parks are open for picnics, our picturesque waterfronts are idyllic spots to enjoy an afternoon, and concerts and rec activities are back on calendars. Below we’ve got some great ideas to get your body moving and get yourselves outside. This month we’re highlighting three Austin neighborhoods that are supporting eco-friendly living and showcasing some excellent trails right in our backyards.

3 Super Spots for Hiking and Biking

If you’re ready to get out and enjoy some of Austin’s blooming greenery, our trail systems can’t be beat.

Ann and Roy Butler Trail

This is a pretty well known trail to those familiar with the metropolitan Austin area (it is sometimes called the Lady Bird Lake Trail) is more than ten miles long and meanders along both sides of Lady Bird Lake. While enjoying lake views, hikers and runners can also easily get to two great Austin parks from the trial with access to Guerrero Park and Zilker Park. Another perk to using this trail system is that it passes through Downtown Austin which makes a great excuse to stop into a café for a mid-hike snack.

Walnut Creek Trails

North Austinites can easily enjoy the trail system of Walnut Creek Metropolitan Park. The green space includes nearly 300 acres and dozens of hiking trails. You’ll also find some great scenery with creek views and pretty pedestrian bridges.

Brushy Creek Regional Trail

Cedar Park trail is perfect for gorgeous hikes where you can convene with nature. The Brushy Creek Regional Trail has cool signs posted along its length detailing the areas where settlers began to build towns and where the local railroads ran through. The 10-mile path is paved and lined with bluebonnets in the spring.

Awesome Eco-Friendly Living in these Austin Neighborhoods

Preserving the environment has become an important aspect as homebuyers search through communities for the perfect house. This commitment to eco-friendly living has pushed developers in Austin to highlight and focus on building practices and amenities which save energy, recycle building materials and reduce waste. These Austin neighborhoods are quickly becoming the most sought after, because they are embracing a greener culture.

Whisper Valley

Whisper Valley was developed with environmental factors in mind and proclaims itself to be dedicated to “energy efficiency and cutting-edge technology.” That’s because Whisper Valley homes feature all energy-efficient technologies like the use of geothermal energy pumps and solar panels throughout. All Whisper Valley houses also come standard with programmable Google Nest thermostats, which monitor your home schedule and automatically adjust based on your needs to best conserve energy. Even the community swimming pool is heated with geothermal technology.

Mueller

This Central Austin neighborhood has lots of parks and has embraced companies that are fostering sustainable development practices. For instance, this neighborhood is working on using former airport architecture in current design plans and is even using old airport hangars for use in street construction. Well-marked bike lanes and strategic pedestrian walkways make this neighborhood an easy one to navigate car-free.

Sweetwater

Sweetwater combines “resort-style” living with their eco-friendly practices. So while residents can enjoy luxuries like a clubhouse and a three-pool aquatic complex the development focuses on greener ways to maintain this lifestyle. Sweetwater uses “reclaimed” water for its landscaping needs, uses sustainable materials for building, and incorporates efficient technologies for energy maintenance.

The five reasons you want to be eco-friendly this month

Water conservation.
Eco-friendly homes are often built with low-flow bathroom fixtures or other devices to help reuse and reduce water waste.
Smaller footprint.
With the greenhouse effect in its peak, reducing your carbon footprint has never been more important. Conserving the environment for future generations a big reason many people choose eco-friendly homes.
Save money.
Eco-friendly homes often use natural or reusable items which eliminate the cost of re-buying household necessities.
Reduced heating and cooling needs.
Creative insulation and ventilation in eco-friendly homes allows energy use and cost to be much lower.
Healthy indoor air.
Environmentally friendly houses use products such as water-based paints, recycled materials, and green cleaners that make a healthier environment at home.

We’re here to help homeowners

Whether you’re ready to sell your home or still just looking at your options, we’re ready to answer any of your questions throughout the process. As the Austin market skyrockets this month and home prices are hitting an all-time high, it might be the perfect time to sell. Contact us to see how we can help you live your best life in Austin.

A Greener Austin

It has certainly been a long and unpredictable winter in central Texas! Now that the cold season is finally behind us, we’re hoping you’re doing well and feeling some relief from our uncharacteristically cold winter. While the weather brings some relief, so does the real estate climate, and we’re glad to see that some things are looking vastly different from last spring. We’re ready and happy to help you navigate the spring housing market here in Austin.

Great news for sellers

One thing we know to be certain, these longer days are inspiring Austinites to head outdoors. Those chirping birds and sprouting greenery are sure signs it’s finally Spring. As we all emerge from hibernation, Austin’s housing market is waking up after February’s winter storm too. Low interest rates are great for buyers, while a quickly moving inventory makes it a great time for sellers.

Last month, the central Texas housing market continued to crash through records, despite crippling winter storms. In fact, Austin’s median home price (inside the city limits) exceeded $491,000 which is a 24% leap over this time last year. According to the Austin Board of Realtors Central Texas Housing Report, it’s the highest it has been ever on record! This is great news for sellers while inventory remains low, but can prove challenging for those interested in buying a home this season.

Mortgage Forbearance

If you’ve placed your mortgage into forbearance due to the due to the coronavirus pandemic, or are finding yourself in a short sale situation, our agents are here to walk you through the ins and outs of your sale. Give us a call today, so we can assist with what steps to take to get your finances and your property ready for the sale of your home.

Great news for buyers

While we’ve got lots of great tips for how to make the most of your offer or choosing the right agent for the job, we’ve also got the details of all the newest, hottest, and most sought after developments in the area.

Hanover Brazos Street- 201 East Third Street

Ground has been broken on this 44-story residential tower. It has plans to hold 310 apartment units with ground level restaurants and retail space on the south-west corner of Fifth and Lacaca streets. It will feature a nine-level above-ground parking garage topped by 32 stories of apartments. The top two levels have plans to include community amenities including a pool.

A greener Austin

It’s not just April showers bringing those May flowers this season. Austin’s businesses, nonprofits and residents alike are working together to create places and spaces which promote sustainability and conservation.

The Presidium Waterford Building

Presidium released information in March stating that their newest building was being built with environmentally friendly factors in mind. The upcoming development will include a rain bio-filtration system and energy efficient appliances in each of the 283 residential units. Their eco-conscious plans integrate smart technology, like thermostats and lighting, into each unit too.

The Brodie Oaks Retail Center

The ball has been set in motion to promote a $1 billion plan to develop South Austin’s Brodie Oaks shopping center into a space that focuses on highlighting ecology, conservation and green space. The project allots 37.6 acres to a mixed-use development which will consist of restaurants, more than 1,600 residential units, office and retail space, and a hotel. However, the part of the plan which makes environmentalists smile is that approximately 13.6 acres, will be parkland and open space, with additional trails and sidewalks within that open space to increase greenbelt access to the Barton Creek Greenbelt. While the project still awaits final approval, it’s looking like it will be a beautiful addition to the character of South Austin.

Urban Roots is planting seeds of change for area teens

Urban Roots is a local nonprofit that is working to use farming and cooking to inspire Austin’s youth. The organization recently planted fruit trees and crops on its 6-acre Southeast Austin and plans to hold its first harvest in spring 2022. They plan to offer paid opportunities for individuals ages 14-23 to grow produce which will be provided to those in need.

According to Executive Director Frances Deviney, Urban Roots is also planning to build a large administrative building with staff offices, a community space and a commercial kitchen at the site in the future. The farm is located at 4711 Winnebago Lane, Austin. This is the second farm for Urban Roots, their first property is located on 3.5 acres in East Austin at 7651 Delwau Lane, Austin.

More excitement for Austin’s spring

The city of Austin is finalizing plans to safely open all of our indoor and outdoor events. We can’t wait to see you out and about.

Which area are experts predicting to be the hottest real estate market in 2021?

Austin has been predicted by numerous experts to be the country’s top housing market in 2021. In fact, the market is already heating up the Sun Belt cities, with home values in Austin expected to outperform the national average. The entire Sun Belt area has been a hot commodity of late, and while many of its cities are seeing a positive surge, Austin has also caught the attention of economists, investment strategists, and real estate experts. Of those surveyed by Zillow in 20 of the country’s largest markets – 84% cast their ballot for Austin. Not only is the housing market increasing, but also the growth of urban parks and increased efforts for sustainability. Further fueling Austin’s housing market are young Americans, particularly millennials, who are taking advantage of low mortgage rates in the Sun Belt cities.

Experts had previously predicted Austin’s housing market would be the hottest in 2020. A recent report stated that by mid-December, the median list price for homes in the Austin metro area had risen year-over-year by more than 23 percent. This was the biggest increase among the 50 largest U.S. markets, making it clear that the capital city would outpace all other large markets in 2020. The pace appears assured to continue its momentum through 2021.

Where Urban Meets Nature

Austin will certainly be getting its fair share of new buildings downtown. There is a multitude of urban development that could be listed and discussed, but it isn’t just housing that is making this city so hot. It’s also the upcoming park plans, which offer the amazing balance between urban living and sustainable development so many new homeowners are seeking! With such a wide range of opportunities and areas for outdoor enjoyment, it’s no wonder Austin is where everyone wants to be.

Great Springs Project

This green corridor will be connected by a network of trails, linking four of Texas’ Great Springs: Barton Springs, San Marcos Springs, Comal Springs, and San Antonio Springs. The project will unify existing local efforts to address the most critical water, land, wildlife, and public health challenges currently facing the Central Texas region.

Waterloo Park

A 1.5-mile park system, once complete, the 35 acres of connected green space – meandering from 15th St. along downtown’s eastern edge to Lady Bird Lake – will be home to a wild array of natural and cultural destinations.

Shoal Creek

The plan calls for a seamless, connected pathway of hike-and-bike trails along the 11-mile Shoal Creek corridor, and connections to other urban trails citywide. Ultimately, Shoal Creek will become part of the “Big Loop,” a 30-mile loop of trails and bikeways traversing the city.

Bergstorm Spur

A six-mile stretch of the abandoned railroad could be on track to become Austin’s next urban trail. Once part of the Union Pacific Railroad serving the defunct Bergstrom Air Force Base, the Bergstrom Spur would become a hybrid urban trail and public transit corridor.

AUSTIN HOUSING MARKET REPORT | DECEMBER 2020

In 2020, residential home sales in the City of Austin increased 1.7% to 12,745 sales, an all-time record, while sales dollar volume jumped 16.3% to $6,746,602,345.

The median sales price for residential homes rose 12% year over year to 420,000 this past year, also an all-time record.

New listings slightly increased 1.1% to 14,735 listings while active listings dropped 23.8% to 1,332 listings, and pending sales increased 3.8% to 13,062 pending sales.

City of Austin December 2020 Market Stats

In December 2020, the median sales price in the city of Austin rose 18.7% to $461,000, an all-time monthly record. Residential sales increased 16.4% to 1,191 sales, a record for the month of December in any year, as sales dollar volume jumped 43.1% to $711,984,698. During the same period, new listings jumped 31.3% to 755 listings, while active listings decreased 33.6% to 753 listings, and pending sales jumped 31.1% to 928 pending sales.

Monthly housing inventory decreased 0.4 months year over year to 0.7 months of inventory. The City of Austin now has a higher inventory than surrounding markets like Williamson County, which is historically
not the case.

Why Selling this Fall May Be Your Best Move

If you’re thinking about moving, selling your house this fall might be the way to go. Here are four highlights in the housing market that may make your decision to sell this fall an easy one.

1. Buyers Are Actively in the Market

ShowingTime, a leading real estate showing software and market stat service provider, just reported that buyer traffic jumped 60.7% compared to this time last year. That’s a huge increase.

It’s clear that buyers are ready, willing, and able to purchase – and they’re in the market right now. In many regions of the country, multiple buyers are entering bidding wars to compete for the home they want. Take advantage of the buyer activity currently in the market so you can sell your house in the most favorable terms.

2. There Are Not Enough Homes for Sale

In the latest Existing Home Sales Report, the National Association of Realtors (NAR) announced that there were only 1.49 million units available for sale. That number was down 18.6% from one year ago. This means in the majority of the country, there aren’t enough homes for sale to satisfy the number of buyers.

Due to the health crisis, many homeowners were reluctant to list their homes earlier this year. That will change as the economy continues to recover. The choices buyers have will increase going into the new year. Don’t wait until additional sellers come to market before you decide to make a move.

3. The Process Is Going Quickly

Today’s ultra-competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and simpler, as buyers know exactly what they can afford before shopping for a home. According to the latest Origination Insights Report from Ellie Mae, the time needed to close a loan is just 49 days.

4. There May Never Be a More Important Time to Move

You’ve likely spent much of the last six months in your current home. Perhaps you now realize how small it is, and you need more space. If you’re working from home, your children are doing virtual school, or you just need more space, your current floor plan may not work for your family’s changing needs.

Homebuilders are beginning to build houses again, so you can choose the exact floor plan to match what your family needs, and you can make sure the outdoor space is what you want too.

Bottom Line

The housing market is prime for sellers right now, so let’s connect to get the process started this fall. If the timing is right for you and your family, the market is calling your name.

Ready to Sell? Homebuyer Traffic Is on the Rise.

Today’s buyers are actively searching for homes and they’re purchasing them at a record-breaking pace. It’s a great time to sell your house and make a move while buyers are scooping homes up faster than they’re coming to market.

Buyers are actively searching for and purchasing homes at a record-breaking pace. According to the latest report from the National Association of Realtors (NAR), in July, 68% of homes were on the market for less than a month.
With homes moving from listing day to pending sale in an average of just 22 days, it’s a great time to sell a house.

Bottom Line

Austin’s real estate market is thriving and buyer activity is continuing to rise. Let’s connect today so you can make your move while buyers are scooping homes up faster than they’re coming to market.

Is the Economic Recovery Beating All Projections?

Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the country will not face the total devastation projected by some. As we continue to battle the pandemic, forecasts are now being revised upward. The Wall Street Journal (WSJ) just reported:

“The U.S. economy and labor market are recovering from the coronavirus-related downturn more quickly than previously expected, economists said in a monthly survey.

Business and academic economists polled by The Wall Street Journal expect gross domestic product to increase at an annualized rate of 23.9% in the third quarter. That is up sharply from an expectation of an 18.3% growth rate in the previous survey.”

What Shape Will the Recovery Take?

Economists have historically cast economic recoveries in the form of one of four letters – V, U, W, or L.

A V-shaped recovery is all about the speed of the recovery. This quick recovery is treated as the best-case scenario for any economy that enters a recession. NOTE: Economists are now also using a new term for this type of recovery called the “Nike Swoosh.” It is a form of the V-shape that may take several months to recover, thus resembling the Nike Swoosh logo.

A U-shaped recovery is when the economy experiences a sharp fall into a recession, like the V-shaped scenario. In this case, however, the economy remains depressed for a longer period of time, possibly several years, before growth starts to pick back up again.

A W-shaped recovery can look like an economy is undergoing a V-shaped recovery until it plunges into a second, often smaller, contraction before fully recovering to pre-recession levels.

An L-shaped recovery is seen as the worst-case scenario. Although the economy returns to growth, it is at a much lower base than pre-recession levels, which means it takes significantly longer to fully recover.

Many experts predicted that this would be a dreaded L-shaped recovery, like the 2008 recession that followed the housing market collapse. Fortunately, that does not seem to be the case.

The same WSJ survey mentioned above asked the economists which letter this recovery will most resemble. Here are the results:

What About the Unemployment Numbers?

It’s difficult to speak positively about a jobs report that shows millions of Americans are still out of work. However, when we compare it to many forecasts from earlier this year, the numbers are much better than most experts expected. There was talk of numbers that would rival the Great Depression when the nation suffered through four consecutive years of unemployment over 20%.

The first report after the 2020 shutdown did show a 14.7% unemployment rate, but much to the surprise of many analysts, the rate has decreased each of the last three months and is now in the single digits (8.4%).

Economist Jason Furman, Professor at Harvard University‘s John F. Kennedy School of Government and the Chair of the Council of Economic Advisers during the previous administration, recently put it into context:

“An unemployment rate of 8.4% is much lower than most anyone would have thought it a few months ago. It is still a bad recession but not a historically unprecedented event or one we need to go back to the Great Depression for comparison.”

The economists surveyed by the WSJ also forecasted unemployment rates going forward:

2021: 6.3%
2022: 5.2%
2023: 4.9%

The following table shows how the current employment situation compares to other major disruptions in our economy:

Bottom Line

The economic recovery still has a long way to go. So far, we are doing much better than most thought would be possible.

How Low Inventory May Impact the Housing Market This Fall

Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the lack of homes for sale.

Buyers are actively searching for and purchasing homes, looking to capitalize on today’s historically low interest rates, but there just aren’t enough houses for sale to meet that growing need. Sam Khater, Chief Economist at Freddie Mac, explains:

“Mortgage rates have hit another record low due to a late summer slowdown in the economic recovery…These low rates have ignited robust purchase demand activity…However, heading into the fall it will be difficult to sustain the growth momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.”

According to the National Association of Realtors (NAR), right now, unsold inventory sits at a 3.1-month supply at the current sales pace. To have a balanced market where there are enough homes for sale to meet buyer demand, the market needs inventory for 6 months. Today, we’re nowhere near where that number needs to be. If the trend continues, it will get even harder to find homes to purchase this fall, and that may slow down potential buyers. Danielle Hale, Chief Economist at realtor.com, notes:

“The overall lack of sustained new listings growth could put a dent in fall home sales despite high interest from home shoppers, because new listings are key to home sales.”

The realtor.com Weekly Recovery Report keeps an eye on the number of listings coming into the market (houses available for sale) and the total number of listings staying in the market compared to the previous year (See graph below):Buyers are clearly scooping up homes faster than they’re being put up for sale. The number of total listings (the orange line) continues to decline even as new listings (the blue line) are coming to the market. Why? Javier Vivas, Director of Economic Research at realtor.com, notes:

“The post-pandemic period has brought a record number of homebuyers back into the market, but it’s also failed to bring a consistent number of sellers back. Homes are selling faster, and sales are still on an upward trend, but rapidly disappearing inventory also means more home shoppers are being priced out. If we don’t see material improvement to supply in the next few weeks, we could see the number of transactions begin to dwindle again even as the lineup of buyers continues to grow.”

Does this mean it’s a good time to sell?

Yes. If you’re thinking about selling your house, this fall is a great time to make it happen. There are plenty of buyers looking for homes to purchase because they want to take advantage of low-interest rates. Realtors are also reporting an average of 3 offers per house and an increase in bidding wars, meaning the demand is there and the opportunity to sell for the most favorable terms is in your favor as a seller.

Bottom Line

If you’re considering selling your house, this is the perfect time to connect so we can talk about how you can benefit from the market trends in our local area.

Two New Surveys Indicate Urban to Suburban Lean

There has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may be longing for the open spaces that suburban and rural areas provide.

In a recent Realtor Magazine article, they discussed the issue and addressed comments made by Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

“While migration trends were toward urban centers before the pandemic, real estate thought leaders have predicted a suburban resurgence as home buyers seek more space for social distancing. Now the data is supporting that theory. Coronavirus and work-from-home flexibility is sparking the trend reversal, Yun said. More first-time home buyers and minorities have also been looking to the suburbs for affordability, he added.”

NAR surveyed agents across the country asking them to best describe the locations where their clients are looking for homes (they could check multiple answers). Here are the results of the survey:

47% suburban/subdivision
39% rural area
25% small town
14% urban area/central city
13% resort community/recreational area

According to real estate agents, there’s a strong preference for less populated locations such as suburban and rural areas.

Real Estate Brokers and Owners Agree

Zelman & Associates surveys brokers and owners of real estate firms for their monthly Real Estate Brokers Report. The last report revealed that 68% see either a ‘moderate’ or ‘significant’ shift to more suburban locations. Here are the results of the survey:

Bottom Line

No one knows if this will be a short-term trend or an industry game-changer. For now, there appears to be a migration to more open environments.

Have You Ever Seen a Housing Market Like This?

The year 2020 will certainly be one to remember, with new realities and norms that changed the way we live. This year’s real estate market is certainly no exception to that shift, with historic highlights continuing to break records and challenge what many thought possible in the housing market. Here’s a look at four key areas that are fundamentally defining the market this year.

Housing Market Recovery

The economy was intentionally put on pause this spring in response to the COVID-19 health crisis. Many aspects of the common real estate transaction were placed on hold at the same time. Thankfully, technology and innovation helped the industry power forward, and business gradually ramped back up as shelter-in-place orders were lifted.

The result? Total transformation of the market from rock-bottom lows to exceptional highs. Today, the housing recovery is being called truly remarkable by many experts and is far exceeding expectations. From pending home sales to purchase applications, buyers are back in business and homes are selling – fast.

According to the Housing Market Recovery Index by realtor.com, the market has surpassed pre-pandemic levels, and has regained the strength we remember from February of this year (See graph below):

Record-Breaking Mortgage Rates

Historically low mortgage rates are another 2020 game-changer. Today’s low rate is one of the big motivating factors bringing buyers back into the market. The average rate reached an all-time low on multiple occasions this year, and it continues to hover in record-low territory.

When rates are this low, buyers have a huge opportunity to get more for their money when purchasing a home, something many are eager to find while continuing to spend more time than expected at home this year, and likely beyond.

Continued Home Price Appreciation

One of the key drivers of home price appreciation this year is historically low inventory. Inventory was low going into the pandemic, and it is still sitting well below the level needed for a normal market. Although sellers are slowly making their way back into the game, buyers are scooping up homes faster than they’re coming up for sale.

This is a classic supply and demand scenario, forcing home prices to rise. Selling something when there is a higher demand for what is available naturally bumps up the price. If you’re ready to sell your house today, this may be the optimal time to make your move. As Bill Banfield, EVP of Capital Markets at Quicken Loans, notes:

“The pandemic has not stopped the consistent home price growth we have witnessed in recent years.”

Increasing Affordability

Even as home prices continue to rise, affordability is working in favor of today’s homebuyers. According to many experts, rates this low are off-setting rising home prices, which increases buyer purchasing power – an opportunity not to be missed, especially if your family’s needs have changed. If you now need space for a home office, gym, virtual classroom, and more, it may be time to reconsider your current house.

According to Mortgage News Daily:

“Those shopping for a home can afford 10 percent more home than they could have one year ago while keeping their monthly payment unchanged. This translates into nearly $32,000 more buying power.”

Bottom Line

With mortgage rates hitting historic lows, home prices appreciating, affordability rising, and the market recovering like no other, 2020 has been quite a year for real estate – perhaps one we’ve never seen before and may never see again. Let’s connect today if you’re ready to take advantage of this year’s record-breaking opportunities.

3 Super Spots for Hiking and Biking

Ann and Roy Butler Trail

Walnut Creek Trails

Brushy Creek Regional Trail

Awesome Eco-Friendly Living in these Austin Neighborhoods

Whisper Valley

Mueller

Sweetwater

The five reasons you want to be eco-friendly this month

We’re here to help homeowners

Great news for sellers

Mortgage Forbearance

Great news for buyers

Hanover Brazos Street- 201 East Third Street

A greener Austin

The Presidium Waterford Building

The Brodie Oaks Retail Center

Urban Roots is planting seeds of change for area teens

More excitement for Austin’s spring

Where Urban Meets Nature

Great Springs Project

Waterloo Park

Shoal Creek

Bergstorm Spur

Why Selling this Fall May Be Your Best Move

1. Buyers Are Actively in the Market

2. There Are Not Enough Homes for Sale

3. The Process Is Going Quickly

4. There May Never Be a More Important Time to Move

Bottom Line

Bottom Line

What Shape Will the Recovery Take?

What About the Unemployment Numbers?

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Does this mean it’s a good time to sell?

Bottom Line

Real Estate Brokers and Owners Agree

Bottom Line

Housing Market Recovery

Record-Breaking Mortgage Rates

Continued Home Price Appreciation

Increasing Affordability

Bottom Line

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