How much do people bid on lots in Travisso with Taylor Morrison? (Austin: to rent, houses)

[Need4Camaro]

Originally Posted by ashbeeigh

Your right. But if you "have" to move there are other options. You'll just need to make accommodations, or be patient and wait...which is what I'm saying.

Point taken, but I will admit I can understand why someone may be shaky on the waiting part right now given the market. I also wanted to wait before I purchased but was worried about the cost of housing inflating to cost prohibitive metrics (which unfortunately happened, and much sooner than I thought it would)

Truthfully, I don't really know what to feel about it. There are aspects of it that concern me as well, but I can't necessarily condemn it because there's nothing unethical or unlawful about it. They're willing to pay the price to live where they want. It does cause problems for the locals in inflating the RE market though. I personally just see it as.. ..a crappy situation for those looking to purchase and a desirable situation for those looking to sell.. I guess I just say.. it is what it is..

For you specifically I have been for some time wondering what could be done given your disposition (I'm not as oblivious to this as you think I am). It's kind of why I ask if you wanted to look into to becoming a realtor given you seemingly have alot of insight on neighborhoods in Austin... even just temporarily until you can get where you want to be. Things aren't going to get any easier here unfortunately. Only thing we can do is adapt to the situation.

[Trainwreck20]

Originally Posted by Need4Camaro

[...]It does cause problems for the locals in inflating the RE market though. I personally just see it as.. ..a crappy situation for those looking to purchase and a desirable situation for those looking to sell.. I guess I just say.. it is what it is..

[...]

Only problems for locals that don't already own. I can't imagine the crazy price I could sell my house for right now. If I was five years older I would be retiring and cashing out to either go live somewhere with lower housing costs, or sitting in an apartment for a year or two for the market to stabilize.

[ashbeeigh]

Originally Posted by Need4Camaro

For you specifically I have been for some time wondering what could be done given your disposition (I'm not as oblivious to this as you think I am). It's kind of why I ask if you wanted to look into to becoming a realtor given you seemingly have alot of insight on neighborhoods in Austin... even just temporarily until you can get where you want to be. Things aren't going to get any easier here unfortunately. Only thing we can do is adapt to the situation.

Am I not where I want to be today? Not sure what that means.

[riaelise]

Originally Posted by chiveone

Please remember that different people have different priorities.

It's not necessarily the lot size or the views or getting a nice and shiny house. It's about what can you get at this moment, why do you need to buy at this moment, and whether you like what you are buying. It's not like there is a choice of 50 lots and you are choosing a lot.

Also, when you plan to live in the house for 10-12 years, I believe the additional premium that people are paying really doesn't matter.

When you have young kids, you don't want to move often. The stability you provide them by buying a house in a good neighboor and letting them build bonds with neighborhood kids by staying there for 10-12 years is much better in my opinion rather than staying in an apartment for a couple of years, looking for a used home, hoping that the prices go down. There is no guarantee that the prices go down a year from now.

If another Californian Tech company announces that they are moving workforce to Austin, which is highly probable right now than some company saying they are moving out of Austin, the home prices have only on way to go. Agreed, the inventory short supply situation might be over in a few months - might - not a certainty. People who can wait for market to cool down, will wait. But, people who can't wait, won't wait, just lik me, even though you know that it's really a seller's market now. Austin will have net positive population inflow for foreseeable future. Zillow predicts Austin to be the hottest RE market in 2021, for a reason.

BTW, the prices for the new homes are in sync with what's happening with used home sales. If you see sales that are happening right now in Travisso and other neighborhoods, for a similar sized lot and similar house plan, they are selling upwards of $800 -$900K plus. Also, it's not like there is significant inventory of used homes. Each house is receiving 30-40 bids higher than asking price.

As someone pointed out, this is not isolated to Austin, may be the magnitide is different in Austin. This is happening across all sunbelt cities. I know for a fact how the market is in Atlanta, where a builder increased price by $30K in 2 weeks.

You might not like what's happening right now as a local Austinite, but welcome to the new reality where Austin is one of the top destinations for people from Northeast, midwest, and California.

Understood, and it's not that I don't "like" it as I don't really have a dog in the fight. I've lived in my home for six years with no plans of selling and when I do sell, it's a one way ticket to the coast. While there is no guarantee that the prices will go down, it is my belief that they are inflated, especially for what you get. You're getting a generic subdivision lot, nothing more. No view and small. I live in the suburbs myself, I get the desire to have the suburban life and stuff, but sorry that's overpaying for Leander. It's just not clicking with me what's so special about that subdivision or really that area to pay close to four times what that lot is actually worth, I'm sorry. Not a native Austinite but a New Yorker who has lived here for 17 years.

[Need4Camaro]

Originally Posted by ashbeeigh

Am I not where I want to be today? Not sure what that means.

In terms of buying which is becoming those who are not in tech, or not relocating from a more expensive home.

[ashbeeigh]

Originally Posted by Need4Camaro

In terms of buying which is becoming those who are not in tech, or not relocating from a more expensive home.

Im fine renting right now. When did I say I was buying a house?

[riaelise]

Originally Posted by Trainwreck20

Only problems for locals that don't already own. I can't imagine the crazy price I could sell my house for right now. If I was five years older I would be retiring and cashing out to either go live somewhere with lower housing costs, or sitting in an apartment for a year or two for the market to stabilize.

I really feel for local first time buyers. Truth is many moved to places like Leander due to affordability. Leander was still largely a semi-rural, "out in the middle of nowhere" town up until a few years ago. I know I know, the same could be said of most of the suburban cities. Having been here 17 years, I remember locals calling Leander the sticks, and housing being pretty modest. I know that doesn't last forever but where does the local buyer have to go? Liberty Hill, which is definitely far away from Austin and will have you driving for over an hour?

[ScoPro]

Heh... one of my brother’s grandsons built a house on some Liberty Hill acreage three years ago. He commutes to his Austin firefighter job down on Elroy Road near the CotA race track.

[Need4Camaro]

Originally Posted by ScoPro

Heh... one of my brother’s grandsons built a house on some Liberty Hill acreage three years ago. He commutes to his Austin firefighter job down on Elroy Road near the CotA race track.

Ouch ... ouch ouch ouch ouch OUCH

The tolls have to be insane on that commute.

Originally Posted by ashbeeigh

Im fine renting right now. When did I say I was buying a house?

You never specifically did but from various posts I kind of gathered that you were irritated by the increasing costs of housing pricing locals out and assumed you were wanting to buy.

[Trainwreck20]

Originally Posted by ScoPro

Heh... one of my brother’s grandsons built a house on some Liberty Hill acreage three years ago. He commutes to his Austin firefighter job down on Elroy Road near the CotA race track.

Okay, there is a lack of planning...unless he is planning to take a different job! That is crazy! Should get a pilots license...