HometownGeorgetown.com

In an article dated January 24 on Entrepreneur.com, titled “Best and Worst Places to Buy a House,” Austin, Round Rock, and Killeen are named as the best cities in which to buy a house. Georgetown wasn’t specifically mentioned, but since we’re located between Austin and Killeen, I’m going to consider that a mantle we share. Don’t let the national headlines fool you. Our economic forecast is good, and buying a home now (especially with today’s low interest rates) could be one of the wisest financial decisions you’ll make. Give me a call if you’d like help in searching for that perfect home. 512-876-6544.

Earlier this month, I wrote a post titled What sold for how much in 2007, which broke Georgetown home sales down by price range. Now I have some clients who will list a house in Round Rock soon, so I wanted to do a more in-depth analysis of the Round Rock market, as well. (Keep your eyes peeled for my Round Rock listing. As soon as we get it on the market, I will feature it here on my blog. I’ll do the same for your home if you list with me, too. This website has had more than 24,000 hits so far in January. I’ll work hard to get the word out in as many ways as I can.)

Because the home is in the MLS area Round Rock East (RRE), I limited my search to that area. Between January 1 and December 31 of last year, 1601 homes were sold. Like the rest of Central Texas, RRE experienced a slowdown in sales in the latter part of the year.

The price range with the highest number of sales was between $100,000 and $149,999, with a total of 634 sales. Next up is the price range in which my client’s house will be listed, $150,000 to $199,999, with 430 sales. Together, these two price ranges account for two-thirds of all of the 2007 sales in RRE.

The average days on market didn’t change much from month to month. I sorted the entire list by Active Days on Market, and I was surprised to see that 386 homes sold in 14 days or less. That’s almost a quarter of all of the homes that sold.

What a beautiful day it is! As I write, it’s 8 a.m. on a Sunday morning here in Georgetown, Texas, and the sky is a clear shade of icy blue. The temperature hovers around 32 degrees, but it’s supposed to warm up to the mid-60’s. Perfect weather for taking the dog for a walk in one of the many beautiful, well-maintained parks here in Georgetown.

But before we get to that, let’s take a look at this week’s real estate numbers in MLS areas GTE and GTW.

13 deals closed over the past seven days. During the same time period in 2007, 15 deals closed. 21 in 2006, 17 in 2005, 14 in 04. We’re not far away from the numbers in previous years. Nine of the homes that sold this week sold for less than $200,000, and all thirteen sold for less than $300,000. Seven of the homes were in Sun City, more than any other neighborhood. All but two were under 2000 square feet. Six of the homes have only two bedrooms. None of them were on acreage. The largest lot was just over half an acre (which is plenty of yard to take care of, in some buyers’ minds.)

Of the 40 new listings, half are priced at less than $200,000. Sun City is again the neighborhood with the greatest number of homes added to the market, at eight. Four homes in the Villages of Berry Creek came on the market this week.

I love looking at all of the new listings as they come on the market. I believe that there is a home out there for everyone. When I look at the listings, I think of my clients who are searching for a home, and I try to help them find something special. I believe there is something special within every price range. For less than $140,000, you can get a lovely brick home built in 1980. At approximately 1600 square feet, this three-bedroom home boasts a beautiful fireplace, a master suite with bath and sitting area, and laminate wood floors. With a quarter-acre lot, there’s plenty of room for the little ones to play in the back yard. Doesn’t this sound like the perfect home for a young family who wants to get on the property ladder?

With interest rates as low as they are, now is the time to make the leap from renting to buying. I can put you in touch with lenders who can tell you all about FHA loans, which allow you to purchase a home with very little down. Why put that money toward rent, when you could be building equity in a home of  your own?

On the other end of the spectrum… Lena Lansdale, a colleague of mine from Moreland Properties, has listed one of the most interesting, unique homes I’ve ever been in. I fell in love with the columns supporting the covered porch in back. The columns are enormous cedars, polished to a shine, knots and all. They’re more than a foot in diameter, I’d guess. There’s a huge three-paned bay window at the back that makes you feel as though you’re standing outside because no wood separates the panes of this enormous picture window. You have a clear, uninterrupted view of the San Gabriel River, just steps away. This is really an incredible home.

So no matter what price range you’re shopping in, I can help you find a home you’ll love. Give me a call at 512-876-6544 or email me at jenel@HometownGeorgetown.com. I’m here to help!

This morning, I pulled the paper out of its little plastic sleeve to find a front page headline: Home sales dip in ‘07, may weaken more in 08. (The online article is an abbreviated version of the article in the paper.) That sounds ominous, doesn’t it? But then I read the first sentence of the article, which said, “Despite the national turmoil in the housing market, sales of existing homes in Central Texas had their second-best year ever in 2007, lagging only behind record-breaking 2006.” Imagine how would our collective feelings would change if the headline had been “2007 second-strongest year on record for existing home sales.” Why must the editors of the paper look for a doom-and-gloom way to spin a story? Is it because we’re all more fascinated by tragedy than by optimism?

The article goes on to say that there are signs that our sales will continue to drop in the first part of 2008. I’m skeptical about their “signs.” The signs I’m seeing say that buyers are back out and looking and - more importantly - making offers. The agents and builders that I’ve spoken with recently in Georgetown have all commented on the fact that things seem to be picking up lately. I’m not wearing blinders. I know that home sales have struggled in recent months, but I truly believe that we are on the rebound.

Now is a great time to buy. Interest rates are around five percent. Five percent. And because of the recent months of struggling, buyers have an excellent pool of available homes from which to choose. Motivated sellers have reduced their prices, as well, so bargains are out there. If you’ve been thinking of buying a new home, please don’t let the scary headlines keep you from moving forward. Call me at 512-876-6544 so I can help you navigate the real estate process.

This morning, I emailed Leander sales numbers to a friend who’s thinking of buying or building a home over there, and it got me interested in digging deeper to see how some of the other Williamson County cities’ sales have compared to Georgetown’s sales over the past month. I ran a 30-day hotsheet for each of the following cities: Cedar Park/Leander, Georgetown, Hutto, Jarrell, Liberty Hill, Round Rock, and Taylor.

(In the MLS system, Cedar Park and Leander are listed as CLN and CLS - north and south, respectively.)

Not surprisingly, the greatest number of sales happened in Round Rock, followed by Cedar Park/Leander, and then Georgetown. Let’s take a look at how the average sales price for each of these cities compares:

In Jarrell, being that there was only one residential sale over the past 30 days according to the MLS, the average list price was pretty easy to find. Liberty Hill had nine sales, four of which sold for more than $400,000. So which city had the smallest sale? Taylor, with a sale of less than $25,000.

Yesterday, I met with Barry Carew, head of the Georgetown Area Builders’ Association (GABA), and we talked about all the wonderful builders in our area. Georgetown is anticipating a lot of growth in the coming years, and builders are preparing for it by getting homes ready now. Our discussion made me curious to find out exactly how many new homes are currently on the market and how many had sold over the past year or so. I searched for homes with a Year Built of 2007 or 2008, and I broke it down between those that are currently active in the MLS and those that had sold since January 1 of last year.

The graphic above illustrates the average new home that is currently available for sale. Note, I did not say the typical new home. Mathematically, I don’t know how to figure out what’s “typical.” There are five homes currently for sale in Georgetown that are priced at over a million dollars. When you take these out of the mix, the average list price drops down to $390,691. Even that doesn’t tell the full story. Of the 133 new homes currently for sale, 43 are priced under $250,000. The map below gives an overview of the location of some of the homes currently on the market. As you can see, there are options all over the Georgetown area.

Now compare the homes currently for sale to the 71 new homes that have sold over the past year or so. These homebuyers still got an average of four bedrooms (although they lost a half-bath), and the average sales price was under $300,000. 37 of these homes were priced under $250,000. That’s 52%, compared to 32% of the new homes still for sale. Does that mean that the homes for sale are overpriced? Not necessarily. It simply means that builders currently have a lot of high-end homes for sale, whereas most of the homebuyers over the past year were looking for something a little simpler and less expensive. If you’re looking for a luxurious home with “wow” features like granite countertops, now is a great time to buy. Interest rates are very low, and you have lots of inventory from which to choose.

I’ve been inside a lot of the new homes out there, and I can tell you that your jaw will drop when you see the beautiful features in them. One in Tuscany Villas has a stovetop built into an incredible stone archway, and travertine floors the color of cream. This is a new home with the charm and character of a home built in Italy several hundred years ago.

If that’s not your style, I’m sure I can help you find something that you’ll love. Please give me a call at 512-876-6544 if you’d like more information about the new homes currently for sale here in Georgetown. Or, for that matter, any homes currently for sale. I’m here to help!

Last week, representatives of Green Builders invited me to visit them at their model home in Georgetown Village to learn more about what they’re doing there. I’ll admit it, I was wowed. Recent electric bills have made my stomach hurt, so I was predisposed to be interested in all the ways that Green Builders are making their homes energy efficient. They predict utility savings of 50% on their homes over homes of similar size in the same neighborhood, which they feel is a conservative estimate.

Green Builders took over the Georgetown Village development in 2005 and proceeded to put homes in empty lots within the neighborhoods. The first of these homes was finished just a few weeks ago. As of the time I spoke with them, they had sold a few of these homes and still have several available. They plan to open a new section of Georgetown Village - Section 9 - this spring. The homes in this section will be built by Green Builders and Perry Homes. Eventually, they plan to put 1800 homes on 800 acres. Their homes in the newly developed sections will face north and south, an orientation that will help even more with energy savings.

They are also working to bring retail to the Village. They have set aside 45 acres, where they would like to create the feeling of an elegant Old Town square. They’re hoping to make Georgetown Village even more of a pedestrian community with a local market, restaurants, perhaps a family dentist, etc. There is no timeline yet for when the retail space will be developed.

So… about those energy savings. How can they predict 50% utility savings? Their homes have many green features, such as:

• Higher windows to maximize shade benefits of awnings and window treatments
• Tankless water heaters
• Compact fluorescent lights (which will be replaced for free if they burn out in less than seven years)
• Gutters and rainwater collection systems
• Foam insulation to make the house air-tight
• Aprilaire filtration system to draw fresh, filtered air into the home

The Aprilaire system has another major benefit in that it allows far fewer allergens into the home than traditional ventilation systems. The Volatile Organic Compound (VOC) paint they use creates no fumes or toxins.

Each home has an Envirocenter, a control hub for the homeowner. How cool would that be, to own a home with an Envirocenter? It sounds so futuristic. Green Builders’ homes were recently awarded an Energy Star rating from the Environmental Protection Agency. The representatives told me that they are the only production builder in Texas that is currently building homes with so many green elements. They really care about the environment, using as many recycled products as possible. The carpet is even recycled, believe it or not, from water bottles! Who knew such a thing was possible?

All this, and they build a beautiful home. You wouldn’t be giving up style in the least. The homes boast charming art niches, staggered cabinetry in the kitchen with heavy, high-quality hardware, sustainable wood floors, and more features that today’s homebuyers love.

If you’re interested in taking a tour of Green Builders’ homes, please give me a call at 512-876-6544. I would love to show you the wonderful family neighborhood of Georgetown Village, home of Village Elementary, which has been rated by the state of Texas as an Exemplary school.

Green Builders’ official grand opening will be this coming Saturday, January 26 from 1-5 p.m. The event will be catered by Whole Foods and Sweet Leaf Tea.

Every day, I start my morning by checking out the Hotsheet for MLS areas GTE and GTW (Georgetown East and West), but I still find it enlightening at the end of the week to look at the aggregate numbers. This has been a busy week here in Georgetown, Texas real estate.

Take a look at the numbers in the chart to the right. I’m particularly gratified to see the number of homes that either went into Pending status (where an offer was made and accepted) or Sold status (where the parties have closed the deal). Seventeen deals closed. Compare that to the same time period in 2007, when only ten deals closed. The average sales price this year was just shy of $300,000. Last year, from January 13 through January 19, the average residential sales price in our region was slightly more than $150,000. Of course this doesn’t mean that our homes have all doubled in value, but it does say good things are happening. Properties are moving.
That said, there were more new listings this week than there were homes that sold or went into pending status. In a completely balanced market, these numbers would be equal. A constant flow of homes in and out of the marketplace. We wouldn’t want to be in a situation where there’s hardly anything for sale because then buyers would have a tough time finding a home for their families. If there are too many homes on the market, then sellers are forced to accept lower sales prices in order to move on with their lives. For the past couple of months, we’ve seen some of these price reductions. I feel that things are beginning to level out now. This week, for example, there were 50 new listings, and a total of 43 homes that sold or went into pending status. Those numbers are pretty close. In a town of not quite 50,000 residents, in fact, they seem statistically equal to me. (But then, I’m no statistician.)
The chart below shows a breakdown of the prices of the homes that came onto the market this week. You’ll note that one home is priced at over a million dollars. If you take this home out of the mix, the average list price is $223,771. There are lots of affordable choices for middle-class residents. Twenty-two of the homes are priced at under $200,000.

Just a quick update: Georgetown High School will present Seven Brides for Seven Brothers January 24 through January 26, with evening shows at 7:00 pm and a Saturday matinee at 2:00 pm. General seating costs $5; premium seating, $7. Tickets will be available at the door.

Yesterday, the Leadership Georgetown Class of 2008 met in the library of Georgetown High School (GHS) to learn about educational offerings in our fair city. The morning started off with a better pick-me-up than a hot cup of coffee - we were serenaded by the high school’s talented cast of Seven Brides for Seven Brothers. The bright-eyed kids were so expressive as they sang; they seemed to truly feel every word, and they made me feel it, too. Later in the day, our Leadership group was able to tour the Performing Arts Center. In a word, wow. Georgetown is a community that places great value on the arts, and we showed it over the years by passing bond issues that empowered the district to build these fabulous facilities. The acoustics in the theatre are so good, in fact, that we were told that Robert Rodriguez recorded the live soundtracks to the Spy Kids movies in Georgetown High School. Then, without any tinkering or remixing, the recordings were put onto CD, and the CD’s were put into the marketplace. How many high schools can make that kind of boast?

Dr. Abbe Boring, our newly minted superintendent, showed great enthusiasm as she spoke about where we are and where we’re going. She’s only been on the job for twelve days, but she’s made a point of visiting each school personally already. She told us that the new high school, Georgetown East, will officially become a full-fledged high school in 2012. This coming school year, it will serve as the city’s ninth-grade campus. In the following few years, it will house tenth, eleventh, and then twelfth graders. Only in even years can a school be added to the system so that students can participate in athletic and other extracurricular activities with other schools. Until that time, students who attend Georgetown East will be able to participate as Georgetown High School team members. After that, we should have some competition going on right here in town. It will be interesting to watch how this develops.

Luanne Preston, Executive Director of the Early College Start/College Connection program at Austin Community College (ACC) spoke to us of the close relationship between ACC and GISD. Although Georgetown is not in the taxing district for ACC, the college is very active in our community. Our high school kids are given the opportunity to take dual-credit courses. This means that by the time they graduate high school, they could already have earned up to 24 college credits from ACC. These credits transfer seamlessly to all public universities in Texas, and they also transfer almost universally to other universities in the state and in other states. Kids can work toward EMT certification while in school, as well as others, so that if they decide not to go to college right away, they are prepared to enter the workforce.

ACC and GISD’s goal is that every child will pursue secondary education of some kind. During their senior year, all students at GHS are given the opportunity to go through the application process for ACC. Along with their diploma, these students are handed an acceptance letter during the graduation ceremony in spring. This is a lifetime acceptance letter. I think this is a wonderful idea because it plants the seed in the kids’ head that they are college material, even if perhaps no one else in their family has gone to college.

ACC also partners with Temple College at Taylor and Texas State University at San Marcos to bring us the Round Rock Higher Education Center (RRHEC). Just a ten-minute drive from the Georgetown Square, RRHEC offers undergraduate, graduate, and continuing education courses. Right now, RRHEC consists of just one building, but the master plan allows for an eventual student population of 15,000!

Some interesting facts we learned from Director Edna Rehbein:

• ACC offers freshman- and sophomore-level courses, while Texas State offers junior-, senior-, and graduate-level courses. This means that students could get a bachelor’s and a master’s degree, all at RRHEC.
• RRHEC will break ground on a second building this summer. Beginning in 2010, a nursing program will be offered. Currently, most of the faculty at RRHEC commutes from the university in San Marcos. This will not be the case with the nursing program, as there is no nursing program in San Marcos. It will be offered exclusively at RRHEC, and the faculty will work solely at this campus.
• Within two years, ACC will have its own campus on CR 112. At that time, Texas State should begin to offer more daytime classes. At the moment, most of the daytime classes are through ACC, while Texas State offers evening classes for working adults.
• Future retail development near RRHEC should include a Starbucks and a Barnes & Noble. (RRHEC is on University Boulevard, formerly known as Chandler Road, so it’s already close to lots of retail. IKEA, JC Penney, and Prime Outlets are all a quick jaunt away.)