Question about Hwy 290 and El Ray Blvd Neighborhood (Austin, Spring: real estate, HOA)

[GM1]

I was wondering if any of you might know what this area is referenced or what the neighborhood is called. Also anyone who lives in that area I would be interested in comments. Seems like the houses are space apart with a little bit of land while not being too far from down town, kind of the best of both.

[tibbar]

That is Granada Hills.
http://www.kencemedia.org/www.peelin...ers/0707GH.pdf

[austin-steve]

Originally Posted by GM1

I was wondering if any of you might know what this area is referenced or what the neighborhood is called. Also anyone who lives in that area I would be interested in comments. Seems like the houses are space apart with a little bit of land while not being too far from down town, kind of the best of both.

It's Granada Hills/Estates and the new part in back is Granada Oaks, which is where I live.

You've spotted what I think is one of the best locations around Austin for a home on a bigger lot and close to town. We're outside the city limits and have the lowest tax rate in Austin (1.88%). Granada is a volountary HOA so you have the pool and amenities if you want to pay for them, but otherwise you don't. The volountary HOA fee is $60/yr., which helps keep the playground/park maintained, so I can't think of any reason not to pay it. The pool is additional.

The older section is going through the end of the "maturity/stability stage and entering the "revitalization" stage of the neighborhood life cycle. We don't have teardowns yet, but some of the old 1970s homes are close to being candidates. You'll pay in the $200Ks for most homes. Soon they'll creep up into the $300K range. There is a severe, and I do mean severe, junker on the market on El Rek for $159K. It's in really bad shape and needs a full redo, but isn't a teardown.

There is also a severly overprices home in the $400K range. Way overpriced. The neighborhood isn't there yet.

When lot values hit $150K to $200K, we'll see teardowns and new cutom homes going up in the older sections. The size limit is only 1400 sqft, so there may be some smaller homes going in also. The newer section is $580k and up for minimum 2700+ sqft custom homes. This helps put a pricing updraft on the existing older homes.

With regard to location, we do have a bit of a traffic snarl at the "Y" in Oak Hill, which will get worse before it gets better. Long term, it's a can't lose location though. Schools are the same as the Circle C track.

Steve

[Trainwreck20]

When lot values hit $150K to $200K

That brings up a question I have had for a while. When I was looking for my first house in the 90's, I used TravisCAD to check out the change in lot values separate from the improvement values. It seemed a more stable indicator of the area. Anyway, that historical breakout does not appear to be available on TravisCAD anymore, only the current year breakout. Am I missing it (I haven't search on there, really, just noticed it wasn't where it used to be) or is there another resource for that that you know of?

[GM1]

Originally Posted by Austin-Steve

It's Granada Hills/Estates and the new part in back is Granada Oaks, which is where I live.

You've spotted what I think is one of the best locations around Austin for a home on a bigger lot and close to town. We're outside the city limits and have the lowest tax rate in Austin (1.88%). Granada is a voluntary HOA so you have the pool and amenities if you want to pay for them, but otherwise you don't. The voluntary HOA fee is $60/yr., which helps keep the playground/park maintained, so I can't think of any reason not to pay it. The pool is additional.

The older section is going through the end of the "maturity/stability stage and entering the "revitalization" stage of the neighborhood life cycle. We don't have teardowns yet, but some of the old 1970s homes are close to being candidates. You'll pay in the $200Ks for most homes. Soon they'll creep up into the $300K range. There is a severe, and I do mean severe, junker on the market on El Rek for $159K. It's in really bad shape and needs a full redo, but isn't a teardown.

There is also a severly overprices home in the $400K range. Way overpriced. The neighborhood isn't there yet.

When lot values hit $150K to $200K, we'll see teardowns and new cutom homes going up in the older sections. The size limit is only 1400 sqft, so there may be some smaller homes going in also. The newer section is $580k and up for minimum 2700+ sqft custom homes. This helps put a pricing updraft on the existing older homes.

With regard to location, we do have a bit of a traffic snarl at the "Y" in Oak Hill, which will get worse before it gets better. Long term, it's a can't lose location though. Schools are the same as the Circle C track.

Steve

Steve,

Thanks for the information, much appreciated and very helpful.
Can you explain the difference or where the break is between the old and the new sections you mention? I see some homes in the area of Candelaria Dr that seem like new developments ( Using Goggle Maps) I'm wondering what the range on those kind of properties might be, the lots seem large, some have pools.

[Phisch]

For what it's worth: my son had a couple of classmates that lived in that neck of the woods. If we'd known it was there, we may have looked there for a home (except that my other half preferred a much smaller lot and new/newer house).

Funny, after I drove through there I wondered if that's the neighborhood Austin-Steve built in. I think you're right about the value and I figured out your avoid-the-290/71-rush-hour-route, Steve!

[austin-steve]

Originally Posted by GM1

Steve,

Thanks for the information, much appreciated and very helpful.
Can you explain the difference or where the break is between the old and the new sections you mention? I see some homes in the area of Candelaria Dr that seem like new developments ( Using Goggle Maps) I'm wondering what the range on those kind of properties might be, the lots seem large, some have pools.

Well, there are three phases. The first two are very similar. The oldest part in front, Granada Hills, has no curbs. When you get back to the section where you see curbs, that's technically Granada Estates. The very new part is obvious at the back end of El Rey. There is a stone entrance sign, landscaping, and the homes are very large custom homes.

There is nothing new on Candelaria. I'm not sure what you're seeing on Google Maps.

Trainwreck, I'm not sure about TCAD and what they show. I would think a vacant lot in old Granada would sell easily for $100K at present. Most of the lots are .7 to 1.2 acres I think, give or take. There are some in the very back that are 600 ft deep. Those may be closer to 2 acres.

FYI - we wrote an offer for one of our buyers on a listing there recently. It had multiple offers and sold for well above what the comps suggest. Our people backed off as they were not interested in a bidding war and we found them something in Circle C, which they also liked.

Steve

[GM1]

Originally Posted by austin-steve

Well, there are three phases. The first two are very similar. The oldest part in front, Granada Hills, has no curbs. When you get back to the section where you see curbs, that's technically Granada Estates. The very new part is obvious at the back end of El Rey. There is a stone entrance sign, landscaping, and the homes are very large custom homes.

There is nothing new on Candelaria. I'm not sure what you're seeing on Google Maps.

Trainwreck, I'm not sure about TCAD and what they show. I would think a vacant lot in old Granada would sell easily for $100K at present. Most of the lots are .7 to 1.2 acres I think, give or take. There are some in the very back that are 600 ft deep. Those may be closer to 2 acres.

FYI - we wrote an offer for one of our buyers on a listing there recently. It had multiple offers and sold for well above what the comps suggest. Our people backed off as they were not interested in a bidding war and we found them something in Circle C, which they also liked.

Steve

Once again thanks Steve appreciate the information.
I'm trying to follow your description using Google Maps ( I'm in California) so I can't drive by the area. Was wondering, what you call the front, is that the section next to hwy 290 where El Rey connects?

[tibbar]

The front is where El Rey connects to 290. Have you looked on zillow.com ? type in 78737 and you can see a birds eye view of houses from all four directions.

[ATX Wahine]

My husband and I just bought a house across 290 from that area - in Westview Estates (Circle Drive/Mowinkle/Pitter Pat area). We'd been in the market for a Dripping Springs home but truthfully, just never found what we wanted in the price range that we were comfy with.

We took a long drive through Granada Oaks while looking and really loved it there ... but in the end bought a place just off Mowinkle. The area is great - larger older homes on really spacious lots. Plenty of space along with a quiet country atmosphere. I looked & looked through the forums here and was surprised to see so little info on this area - yet pleased at the same time. Seems to be a quiet part of Austin that mostly flies under the real estate radar. I call that a win!