Want to See the Most Expensive Home Currently Listed in Austin?

Curious to know what it would run you to purchase the most expensive listing in Austin? This cool home in West Austin just off Quinlan Park Road will run you a sweet $13,490,000.

The gated estate on ten acres boasts nine bedrooms, twelve baths, nine living rooms, 15,869 square feet with Lake Austin waterfront, a guest house, a boat house with 2 slips, a negative edge pool, a swim up bar, a summer kitchen, and... did I mention a helipad?

Listing courtesy of Laura Duggan and Patrick Birdsong with West Austin Properties.

Ready to see end of August Austin Housing Numbers

It is very interesting to see that we currently have a little over 11,300 homes on the market in the Austin area. That is 10% less that this same time last year, which is a good sign for the Austin market. (And, that includes Round Rock, Cedar Park, and even down south like Dripping Springs and Wimberley.) There are still some good deals out there, depending on your price range. Homes in the $300,000-$600,000 seem like they are sitting a little bit longer. Many also seem to be adjusting their pricing for condition.

For instance, in Central Austin (Tarrytown, Brykerwoods, and Hyde Park) homes are averaging today (8/31/09) at:

104 days on the market for homes that are for sale (not under contract)

88-99 days for pendings

61 days for solds

However, if you are looking either in North or South Austin, about 15 minutes from downtown, in the $100,000-$200,000 price range... it is more of a seller's market, with the average days on market in North Austin, Areas 2N and N (if you are familiar with the MLS map) being just:

69 days for actives

46 days for pendings

20 days for pending taking backups

42 days on market for solds

In South Austin (Areas 10N and 10S), average days on market are:

49 for actives

26-29 days for 96 (wow) pendings/pendings taking backups

49 days for the solds

With all of the people working to take advantage of the $8000 first time home buyer's credit, those homes (that are in great shape for the most part and are priced right) are being gobbled up rather quickly in both South and North Austin. So, be prepared to jump on those homes, if they look like a good option for you. I am eager to review the August numbers. Remember that you have to close and fund on the house by December 1st, 2009, to take advantage of the first time homebuyer's tax credit.

At my Open House....

Come entertain me at my open house. I'll be here until 2pm today in Hyde Park.

3819 Avenue F

Austin, Texas 78751

http://postlets.com/res/2637951

Almost all of the Sage Condos Sold at Auction

Last Saturday, August 22nd, 2009, the remaining units of the Sage Condominiums (23 of the 32 units), originally developed by Avera and located in the 1700 block of South Lamar, were sold at Auction by JP King. All but five of the twenty three condos up for auction supposedly sold with prices ranging from around $150,000 to $250,000. Apparently, all 23 received bids. But, five were not accepted by the seller.

This now begs the question... will this be a staying trend with the developers who have investors hot on their heels to sell, sell, sell? Also, I'm curious to see what will happen with many of the Bel Air Condos that did receive bids during their auction... but were later rejected by the sellers. Thoughts?

Looking for a home in Wimberley?

This is an amazing retreat of a home in Wimberley that is for sale.

Take a look:

http://www.postlets.com/res/2401189

Curious about First Time Homebuyer's Tax Credit?

A lot of my clients have been asking about the details concerning the First Time Homebuyer's Tax Credit that is being offered by the Federal Government. There are several important things to know:



1) It's not just for true first time home buyers. The government considers a "First Time Home Buyer" to be anyone who has not owned a principal residence in any of the past three years before this purchase.

(By the way, some clients have asked... what if I just got married and my husband has owned a home? Can we sell his and take advantage of this? Sorry! You would not qualify in this case. Neither one of you could have owned in the past three years.)

2) There are income limits. If you make more than $75,000 as an individual or $150,000 as a married couple... the credit is reduced and even brought down to zero, based on your income level. Consult your CPA or financial advisor.

3) You must purchase (meaning closed and funded) prior to December 1st, 2009. You cannot claim this if you bought before January 1st or if you only have it "under contract."

The coolest thing about this tax credit is that you do not have to pay it back like in previous years. (It used to basically be an interest-free loan from Uncle Sam.) Now, it is, as they call it, a "dollar-for-dollar" credit. So, if you owed the IRS $1000 in taxes, they would return $7000. ($8000 Tax Credit - what you owed the IRS.)

You can find some great information on this at: http://www.federalhousingtaxcredit.com/2009/faq.php#1

If you are curious as to how you can save on remodels, look here:
http://energytaxcredits.blogspot.com/

And, as I mentioned above, I definitely suggest that you check with your CPA or financial advisor to see how this will best apply to you.

Check out this cool bungalow in Hyde Park for $425,000

Click here to see....

For Sale: 3BR/1BA Single Family House in Austin, TX, $425,000