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Old 05-05-2021, 03:11 PM
 
743 posts, read 1,360,327 times
Reputation: 651

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Quote:
Originally Posted by ScoPro View Post
Riaelise....

I may have posted this before, but when my wife’s grandpa in Taylor decided he needed a bigger house in which to raise his 5 kids, he tried to buy this Lake Drive house for $5,000. However the owner wanted $6,000, so Grandpa built the 311 Davis Street house himself (he was in the building business).

https://www.google.com/maps/@30.5777...7i16384!8i8192
I think I remember you posting about that eons ago! THAT HOUSE! A classic beauty.
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Old 05-05-2021, 03:37 PM
 
Location: Round Rock, Texas
12,866 posts, read 13,173,864 times
Reputation: 13815
Yes it is.
I’m glad he didn’t buy it, as my mother-in-law eventually inherited the big Davis Street house he built, but couldn’t afford to maintain that one and had to sell it in 1971 (for $7,000) so she could downsize.
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Old 05-05-2021, 04:14 PM
 
Location: Round Rock, Texas
13,437 posts, read 15,347,491 times
Reputation: 18959
Quote:
Originally Posted by VAF84 View Post
Combination of a hot real estate location, inflation, disruption of supply, crazy demand from stimulus. Everything is disrupted, the supply chains, wages, employment, the picture is only now becoming more clear. The only thing that will reign in housing prices right now is an increase in interest rates which the Fed isn't really incentivized to do yet. Supply would normally do it, but the supply chain and employment disruptions aren't allowing for it to catch up fast enough.

I'd say at least two more years of this fever pitch for a variety of reasons. However, because of state tax structure (based on property taxes), and the amount of time that will pass for which comps to increase across the board to these new high sales prices; I don't see prices going down as much as maybe leveling out. Austin, even in recessions, has somehow stayed resilient.

@raielise - Not sure if you're in Forest Creek, but that's basically exactly what's going on over there. I've been shocked at the price jumps. I have friends that live there, and between them, and some frequent checking on the mls over the years I've noticed the same crazy spike you have.

@ashbeeigh - cool, me too!

No, I'm not, but in the general area. It's insane. It was said that in the suburbs it's usually 9-15% over asking..well in the case of the house that just closed, it was over 20% over asking. Honestly, though, one wouldn't feel bad paying 836k for it because you'd get a half acre lot, it's not cookie cutter, and it's updated...but STILL...that seller made over 300k in a little over a year and a half.


Quote:
Originally Posted by ScoPro View Post
Riaelise....

I may have posted this before, but when my wife’s grandpa in Taylor decided he needed a bigger house in which to raise his 5 kids, he tried to buy this Lake Drive house for $5,000. However the owner wanted $6,000, so Grandpa built the 311 Davis Street house himself (he was in the building business).

https://www.google.com/maps/@30.5777...7i16384!8i8192
Yeah, it was in my topic when we were contemplating buying a fixer on Lake Drive What a gorgeous house, that's my dream home right there. Lake Drive has some gorgeous homes on large lots. It's like an underrated Old Town in Georgetown. The gears in my head are still turning because even if a home is priced at 500k, we could sell the current one we have now and either buy outright or have a small mortgage. And to think we've only been in this home six years but the market has just exploded and has made it all possible. Too bad no large homes have become available in historic Taylor lately...
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Old 05-05-2021, 04:44 PM
 
Location: Austin, TX via San Antonio, TX
9,843 posts, read 13,581,731 times
Reputation: 5701
Quote:
Originally Posted by VAF84 View Post

@ashbeeigh - cool, me too!
Then we probably would at least recognize each other's names if we saw them. I haven't been back since '08 so I have no idea what it's like these days.
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Old 05-06-2021, 08:22 AM
 
Location: Austin, TX via San Antonio, TX
9,843 posts, read 13,581,731 times
Reputation: 5701
Adding it here just in case anyone needed or cared for the update on the offer in San Marcos. They were outbid by a "considerably higher offer." I'm not even going to be upset when people put in asking and get outbid in the Austin metro anymore. They were the 1st offer in.
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Old 05-06-2021, 09:59 AM
 
Location: Avery Ranch, Austin, TX
8,977 posts, read 17,449,279 times
Reputation: 4000
Quote:
Originally Posted by ashbeeigh View Post
Adding it here just in case anyone needed or cared for the update on the offer in San Marcos. They were outbid by a "considerably higher offer." I'm not even going to be upset when people put in asking and get outbid in the Austin metro anymore. They were the 1st offer in.
Dang.
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Old 05-06-2021, 11:20 AM
 
3,321 posts, read 7,930,478 times
Reputation: 2851
Yea I was told whatever the asking price is you need to add 50k.

I was looking at a house in Anderson Mill and Brushy Creek going for $350-$375k 6 weeks ago. My agent said they received offers for nearly 500k.
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Old 05-06-2021, 11:40 AM
 
Location: Round Rock, Texas
12,866 posts, read 13,173,864 times
Reputation: 13815
Quote:
Originally Posted by Dub D View Post
Yea I was told whatever the asking price is you need to add 50k.

I was looking at a house in Anderson Mill and Brushy Creek going for $350-$375k 6 weeks ago. My agent said they received offers for nearly 500k.
Haven’t seen any activity at that house for sale ($455,000) on my street yet since it was listed early last week (or longer).
9103 Brimstone Lane 78717
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Old 05-06-2021, 11:48 AM
 
Location: Austin, TX
15,238 posts, read 35,431,654 times
Reputation: 8572
Quote:
Originally Posted by Dub D View Post
Yea I was told whatever the asking price is you need to add 50k.

I was looking at a house in Anderson Mill and Brushy Creek going for $350-$375k 6 weeks ago. My agent said they received offers for nearly 500k.
I heard that 'going' price is many (most?) areas of Austin proper was 'asking' + $100k - $150k.
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Old 05-06-2021, 12:11 PM
 
3,321 posts, read 7,930,478 times
Reputation: 2851
That's possible. I had to go 60K over for the one I'm in escrow on in Round Rock.
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