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Old 03-14-2012, 10:04 AM
 
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Default real estate

Just an observation, (driving around) but it looks like there are still lot's of homes for sale in and around Austin. From what I see here in Hutto: lot's for sale. Prices seem to be lower than a couple of years ago but still seem high, (my opinion).

I am seeing more and more little yellow or orange papers in the windows and that can't be a good thing. There are three huge homes right behind Nadine Johnson elementary that are for sale all in a row. Boom, boom, boom. Not trying to be negative but just making observations based on what I see.

In spite of what I'm seeing with so many moving out, it does seem just as many are moving in. Sold signs are common as well. (but not as common as for sale)

It would be interesting to know why people are moving from this area, and where are they moving to. Any guesses?

Also, how about the Barton Creek area and the million dollar spreads there...who is moving out? Who is moving in? (not names but in general) Seems to be lot's of homes, (mansions) for sale there.

Probably never find out but curiosity is getting the best of me.
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Old 03-14-2012, 10:50 AM
 
Location: Austin, TX
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Well, I live near Barton Creek and don't really see many for sale signs at all.. although I'd expect to see a bump this time of year.

I think in some areas, and maybe this is the case with Hutto (I really don't know) there is some remaining inventory that was purchased a few years ago as investment property. With the downturn and possible lengthy forclosures on those non-owner occupied properties, they might not have been able to sell until now and are taking advantage of the improved market conditions. If so, you may be experiencing what looks like a high turnover, but is actually a net gain of people moving into vacant properties for the first time. Since people aren't purchasing much for pure investment anymore, it should help things with more owner/occupants.

But again, pure speculation on my part, I'm not a realtor.
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Old 03-14-2012, 12:08 PM
 
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Quote:
Originally Posted by atxcio View Post
Well, I live near Barton Creek and don't really see many for sale signs at all.. although I'd expect to see a bump this time of year.

I think in some areas, and maybe this is the case with Hutto (I really don't know) there is some remaining inventory that was purchased a few years ago as investment property. With the downturn and possible lengthy forclosures on those non-owner occupied properties, they might not have been able to sell until now and are taking advantage of the improved market conditions. If so, you may be experiencing what looks like a high turnover, but is actually a net gain of people moving into vacant properties for the first time. Since people aren't purchasing much for pure investment anymore, it should help things with more owner/occupants.

But again, pure speculation on my part, I'm not a realtor.

I'm not sure what you're saying. Forgive my ignorance. The investors purchase the house, live there for awhile and then sell it? Investors live in the homes they purchase? The homes I see are lived in, now unoccupied with or without the colorful little piece of paper in the window....I don't know if they're investment property or not. Like you...I simply speculate.
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Old 03-14-2012, 12:10 PM
 
Location: Central Texas
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A lot of Austin is suddenly turning into a seller's market. However, some areas (and Hutto appears to be one of them) are lagging behind this so far (though I'm watching the sales carefully in case that should do an equally sudden turnaround).

There are a lot more houses on the market - it's spring, and that's the traditional time for houses on the market, like the Texas wildflowers, to suddenly appear. The interesting thing is that in some areas houses are disappearing as quickly as they appear, selling after only a short time on the market. This is something we haven't seen in a while, and it's a really nice way to enter spring!
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Old 03-14-2012, 12:16 PM
 
Location: Austin, TX
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Central Texas home sales are up and prices are stable according to this article. Central Texas home sales rose 11 percent in December; up 7 percent for year Other posters here have commented in another thread how quickly good homes are selling, making it difficult for them to find what they are looking for.

Austin Real Estate - HELP! What is going on?

Real Estate in Austin Area!!!

SW Austin Current Market

Last edited by CptnRn; 03-14-2012 at 12:43 PM..
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Old 03-14-2012, 12:31 PM
 
Location: Austin, TX
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Quote:
Originally Posted by oldtoiletsmkgdflrpots View Post
I'm not sure what you're saying. Forgive my ignorance. The investors purchase the house, live there for awhile and then sell it? Investors live in the homes they purchase? The homes I see are lived in, now unoccupied with or without the colorful little piece of paper in the window....I don't know if they're investment property or not. Like you...I simply speculate.
The investors purchase the house, and lease it out with the intention to flip it when it becomes more valuable. Or at least, that was the idea when everything was going up. I think.
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Old 03-14-2012, 12:32 PM
 
Location: Austin, TX
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There are at least four of us on this board looking for homes in either NW Austin or in Eanes areas and we're having NO luck. The inventory is incredibly low and houses are going under contract when they're just "coming soon", not even listed yet. The houses that are listed are gone in two days by way of bidding war, often OVER asking price. I've never in my life experienced a sellers' market/low inventory situation like this; it's daunting and frustrating.
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Old 03-14-2012, 12:37 PM
 
Location: Austin, TX
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Quote:
it's daunting and frustrating.
Unless you are the seller
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Old 03-14-2012, 12:39 PM
 
Location: Austin, TX
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Ah, there are 38 listings there.. that does seem like a lot. Not sure why I don't see the signs, but many of those areas in Barton Creek are gated and I wouldn't really see them just passing through. I can say here in Lost Creek there really aren't many signs at all. Maybe 2 or 3 that I see in the neighborhood (I think it's 1200 homes or so total)? Anyway, they are not as pricey as the Barton Creek homes across the creek, so I'm sure the market is kind of different.
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Old 03-14-2012, 12:40 PM
 
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And it's a sellers market only in certain areas.
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