Why so many homes for sale in Travis Heights? (Austin: real estate market, low crime)

[FueledByBlueBell]

I'm noticing a lot of pretty nice, newly renovated homes for sale in Travis Heights. They are also sitting on the market for quite some time. Anyone know why? Is this related to the crime in the area?

[capcat]

Are people still trying to flip houses in this economy? That's the first thing that comes to mind, realizing I'd have to leave it to the realtors for a more informed opinion.

[sanmiguel]

A few years ago we seriously considered Travis Heights before deciding upon purchasing in Hyde Park. The homes are lovely down there and the location is great but the public schools which it feeds are really bad. We didn't want to essentially pay twice for our child's education by both paying taxes and sending her to private school.

[skeet09]

Originally Posted by FueledByBlueBell

I'm noticing a lot of pretty nice, newly renovated homes for sale in Travis Heights. They are also sitting on the market for quite some time. Anyone know why? Is this related to the crime in the area?

Thumbs up on your City-data name. Got a favorite?

[centralaustinite]

Most of the homes that are sitting on the market are priced above $500K, many above $750K and that part of the Austin real estate market it very very slow!

And it has been for quite a while. It is hard to get a jumbo loan these days (anything over $417). Builders, flippers, and sellers are sometimes slow to accept reality -- all over town, not just in one spot. There are many homes for sale that are just sitting in Tarrytown too. Eventually, high-end home prices will have to come down (or stay very flat for a very long time which is the same thing).

I am pleased to report that Travis Heights Elementary received a "recognized" ranking this year.

[FueledByBlueBell]

These don't look like flipper homes. That is what is so odd.

Banana Pudding is pretty awesome. Cookies and Cream is nice too. Actually, Peppermint and Mint Chocolate Chip are great as well. I really like Vanilla Bean (do they still have that?) and Sugar Free Vanilla of all things. There are so many...

[AustinGuy]

Well, Travis Heights prices have surged during this last property boom (since 2001), so there are a lot of optimistic sellers still trying to cash out "at the top" if possible.

[austin-steve]

At present in MLS Area 6, there are 128 Homes Active and only 15 Pending. That's an Active/Pending Ratio of 12% (12% of homes on the market are Pending)

If I limit the search to homes under $500K, the ratio is 9 Pending of 79 Listings = 11%
If I limit the search to under $400K, it's 13% Pending.
Oddly, in the lowest range of under $300K, only 6% of the listings in MLS are 6 are Pending. This is counterintuitive, but that's what the data says at the moment.

MLS-wide, across all houses listed in the Austin MLS, there are 11,430 total listings of which 2,482 are Pending, for a percentage of 22%, which is about a normal mix of Active/Pending. So, Travis Heights and Area 6 are underperforming compared to the greater market.

You want to know the hotest area in Austin right now? If I search for homes that are under $200K, at least a 3/2/2/ in zip code 78745, there are a totla of 63 listings of which 34 are pending and 29 are Active. That's a strong market with over half (54%) of listings pending. That's a seller's market as the demand has exceeded supply.

Steve

[blf53]

The main reason they are sitting for a long time is that they are far overpriced (up to over $1 mil). Many are priced in the $600K - $900k range, which considering the difficulty to obtain financing, makes them out of reach. They will sit on the market for a very long time.

Owners need to remember this is Austin, Texas, NOT the San Francisco Bay Area. Jobs are limited here even in a good economy.

There are some reasonable one's priced below $500k, you just have to look for them.

Travis Heights is a great neighborhood although it is changing. Whether that is for the better or the worse depends on your perspective. Crime is not the issue. It is a low crime area and the police department maintains a quick response in the area if there are any issues. People just have to let them know when there is a problem. It still maintains it's quaint and friendly roots, although as more "yuppie-types" move in the feel is less friendly.

As far as schools, the problem has been that as the population has aged, there are fewer children from the neighborhood attending the schools there. As a result, and for what ever reason, the AISD has been bringing in kids from lower income neighborhoods and overcrowding schools that were built in the 1930's for kids in the neighborhood. This drives the quality down. A real effort needs to be made to force the AISD to improve the schools there by creating a better racial and socio-economic balance while remembering that these schools were built for students in that neighborhood, not from everywhere else. On that note, I will say that there has been some real improvement with the changes in some of the school principles and staffing. I know for a fact that Lisa Robertson, the principle at Travis Heights Elementary School, has done a tremendous job of improving that school over the last few years.

[AustinAaron]

Not a lot moving in that price range right now. Anywhere in Austin.

78745 is on fire! Always on the prowl for a 2nd home in 78745.