Archive for June, 2008

This week in residential real estate in Georgetown, TX

Sunday, June 29th, 2008

MLS Activity in GTE and GTW for week ending June 29 With 34 new listings and 32 properties sold, this week was somewhat of a wash. The homes that sold did so for a total of $6.9 million. The new homes on the market are listed for a total of $8.6 million. But comparing those two numbers isn’t as valid as comparing the original list price of the homes that sold to the list price of the homes that are new to the market. The cumulative original list price of the sales was about $7.6 million, so the homes sold for an average of 92% of the original asking price. They sold for 96% of the asking price at the time of the sale. 
On page F3 of the Statesman Homes section of today’s newspaper, there’s a feature titled What’s selling in Georgetown. It’s interesting to me that they showed 6 homes that went pending recently, and each of their examples is listed for $400,000 or more. I imagine it’s because the higher-end homes look prettier in the paper, more attractive to readers. These six homes have spent an average of 167 cumulative days on market before the owners accepted an offer. During that time, one of the homes saw a price reduction of about $150,000.
There are currently 145 houses in Pending status in Georgetown. Of these, 14 are priced at $400,000 or more, just 10%, and yet that’s the only price range the paper showed. The Pending homes have been on the market an average of 91 days and the average home is listed for $245,705. There are lots more affordable choices than the newspaper might lead you to believe.

Rate my blog…please

Saturday, June 28th, 2008

If you have a minute (and I promise, it won’t take longer than that), I hope you’ll rate my blog at BlogCatalog. The more ratings I get, the higher up I’ll move in their rankings, which means more people who are looking for information on Georgetown will find HometownGeorgetown.com. All you have to do is click the link above, and then select 1-5 stars in the column at the right.

Georgetown historic homes recognized

Friday, June 27th, 2008

In an article titled “Best Places to Buy an Old House,” Georgetown Texas has been named one of the editors’ top 12 picks. The beautiful home they picture in the article is just a couple of blocks from my house, and I admire it every time I pass. My husband and I discuss yet again how we want to add a small area of fishscale shingles to our house someday because the different “textures” look gorgeous on this home. It’s on the market right now for just under $600,000. It’s a showstopper. Incredible.

I searched the MLS for homes that were currently on the market, pending, or that had sold within the past year, which were built at least 75 years ago. There are currently ten homes active on the market that were built in 1933 or prior. These homes are priced from $97,500 up to $725,000. The article says there are homes in Georgetown in the millions, which is true, but not the case for the homes in my search. In fact, when I change the search parameters to look at all homes built prior to 1933 that have sold through the MLS (rather than only looking at the past year), the most expensive sale was just under $800,000 in November of 2005. That same home sold just five years earlier for just under $600,000. Our homes in the million plus range are in exclusive subdivisions, but I’m sure that our highly desirable historic homes will reach that lofty point in years to come. People love to be within walking distance of the square.

There are two homes in pending status, both of which received acceptable offers in less than two weeks. One, listed for just over $400,000, sits on more than a third of an acre right on Austin Avenue. The other is east of the downtown square, which is an area that is most attractive to buyers. The quiet, tree-lined streets and large front porches make that area of town feel like Mayberry.

In the past year, thirteen homes built in 1933 or prior have sold in Georgetown. (I represented the buyer in one of those deals and the seller in another, so I had a hand in 15% of these sales. That’s kind of fun!) The homes have sold for $90,000 up to $365,000. One home was on almost 15 acres, but the other homes were on an average of about a quarter-acre. The average home has 1680 square feet and sold for $132 per square foot.

Briarwood, a hidden gem

Thursday, June 26th, 2008

Yesterday, I attended a grand opening open house event for REALTORS at a small, little-known new subdivision called Briarwood. Briarwood is tucked away in a quiet corner between Williams Drive and Northwest Boulevard, very convenient to shopping and restaurants. What I love about Briarwood is that the builders there are building high-quality homes with luxury features such as beautiful granite countertops, tile floors, rounded corners, etc…. but they’re doing it at a price point that the average family can afford. The homes that are currently on the market are priced between about $195,000 and $250,000.

BedRock model home in the Briarwood subdivision of Georgetown, TX
Noe's Construction home for sale in the Briarwood subdivision of Georgetown, TX

There are also many lots available for sale so buyers can have a home built that is truly, uniquely theirs. If all this sounds intriguing to you, please give me a call at 512-876-6544, and I’d be happy to give you a tour of homes currently available in Briarwood.

Georgetown’s Boys & Girls Club

Wednesday, June 25th, 2008

Earlier this week, I spent a few minutes with Daniel Anstee, Director of the Georgetown Boys and Girls Club. (It took me a few days to get around to writing because I was traumatized when a little boy asked Mr. Anstee if I was his mother. Since Mr. Anstee is my age, or perhaps slightly older, I’ve been contemplating calling Georgetown Plastic Surgery ever since!) The Boys & Girls Club serves a very important need for families throughout the year, but especially in the summer. Most parents have to continue working even when school is out, so it must be an enormous relief to know that your kids have a place where they can play safely. The annual membership is just $10. Boys and Girls playing
Kids aged 7-12 are free to come and go throughout the day. And they won’t go hungry, either, because the Georgetown Independent School District provides lunch there as part of their summer lunch program. Teens come from 3-8 p.m.
As a non-profit, the Club is always happy to accept donations to help it continue to provide these essential services to Georgetown’s youth. An anonymous benefactor recently offered to match local donations up to $10,000 in an effort to help the Club meet its goal of raising $75,000. So anything you give right now will have twice the impact. To donate, you can give through their website, or just give me a call at 512-876-6544, and I’ll be happy to make arrangements to pick up a check from you and deliver it to the Club.

What can you get for around $150,000 in Williamson County?

Monday, June 23rd, 2008

This morning, I ran a search for homes priced between $145,000 and $155,000 in Williamson County. You can get the largest home for the money in Round Rock East, where the average size is nudging up against 2000 square feet. The smallest average home is in the Cedar Park/Leander South area, with 1584 square feet on just .12 acres. In Taylor, the home might be on the smaller size, but on average, you’ll get about 3 acres of land.

Homes priced between $145,000 and $155,000 in Williamson County, Texas
Take a look at the numbers for Round Rock West. There are currently just 3 homes on the market in this price range, while there are a cumulative of 9 homes which are either pending, or which have sold in the past 30 days. If you’re looking to sell a home in this price range in Round Rock West, you’d better be prepared to move quickly. (And give me a call at 512-876-6544. I’d be happy to sit down with you to discuss what I can do for you. I’m looking for listings all around Williamson County.)
Georgetown West isn’t faring nearly as well in this price range. There are 28 homes currently on the market, while only 7 are pending or have sold in the past 30 days. When homes are more difficult to sell, you really need a REALTOR in your corner who knows the market, and who can advise you on the best way to market your home to buyers in your area. Marketing starts with you, with getting your house in such a beautiful condition that it outshines the competition. You want buyers to walk into the house and think “Wow, I can afford this wonderful house?!” Remember, you can come in second place a thousand times with a thousand different buyers. Only when you come in first place will you sell your home.

This week in residential real estate in Georgetown TX

Sunday, June 22nd, 2008

MLS activity in Georgetown TX for week ending June 22 The homes that sold this week in GTE and GTW sold after an average of 96 days on the market. The fastest sale took place after just one day on the market. That house was in the very popular Villages of River Bend here in Georgetown, an age-restricted community that is much more intimate than the better known Sun City Texas. At Villages of River Bend, the HOA dues are about $140 per year, a far cry from Sun City’s. Then again, you don’t get any of the amenities you get at Sun City, such as the clubhouse, pools, golf courses, arts and crafts center, etc. It all depends on what you’re looking for. There’s a neighborhood out there for everyone.
It’s obvious to me that we’re lagging behind last year’s sales so far this year, but I wanted to find out exactly how much. (I’m a statistics geek - I want to quantify everything.) I ran a search of sales in Georgetown between January 1 and May 31 this year, and then I ran the same search for last year. Then I decided to see how some of the other cities in Williamson County are faring compared to last year.
2007/2008 Sales comparison between January and May in Williamson County
Leander’s sales haven’t slowed much at all from last year, while Hutto is down to 70% of what was sold in 2007. In Georgetown, we’ve sold about 80% in terms of sales price of what sold during the same period last year. (I did not track the number of sales, but rather the total sales price.)

What’s on the market right now in Georgetown

Monday, June 16th, 2008

Often, we look at what has sold, which is, of course, the name of the game. However, it’s also helpful to look at what hasn’t sold…yet. This morning I ran a search in MLS areas GTE and GTW to get the big picture of what is active on the market right now. 699 properties matched my search. (Single family residences - I didn’t search lots, commercial properties, or multi-family residences.)
Homes by price range on the market in Georgetown TX
Almost two-thirds of the homes that are currently active on the market are priced between $100,000 and $300,000. These homes are spending significantly less time on the market than more expensive homes, as well, although I have noticed that higher-end homes are beginning to move a bit better lately than they have been. The trickle-up theory seems to be holding true: Sales of less expensive homes picked up sooner than those of the pricier residences.
Of the 19 homes that are priced at less than $100,000, 4 are mobile or manufactured homes, and 5 are condos. Not all condos are so inexpensive, of course. There are currently four condos on the market with an asking price of around $250,000. (That’s nothing compared to the price of some of the luxury condos down Austin way!)
Snapshot of homes on the market in Georgetown, TX

This week in residential real estate in Georgetown, Texas

Monday, June 16th, 2008

MLS activity in Georgetown TX for week ending June 16 The number of homes that went into Pending status or sold this week total almost exactly the number of new homes that have come onto the market. Those new homes range in price from a touch over $50,000 for a manufactured home on half an acre of land to almost a million dollars for an incredible home of about 4600 square feet on 2.5 acres in Escalera Ranch. Of those new listings, one is already in Pending status, and one has been temporarily withdrawn from the market. (I don’t know why; it’s a mystery.)
Most homes spend more time on the market before going into pending status. This week’s pending homes have spent an average of 73 days on the market. The cumulative current list price of those homes is 98% of the cumulative original list price. The homes that sold this week sold for an average of 97% of the final list price, which is what we’ve grown to expect.

Kudos to Oaks at Wildwood for low maintenance lifestyle

Saturday, June 14th, 2008

Several months ago, the staff at Oaks at Wildwood here in Georgetown invited me and the other Moreland agents to lunch so they could tell us all about the low maintenance lifestyle home buyers would get when purchasing one of their homes. I was very impressed by what I saw at this meeting. Their homes are gorgeous. The community design is unusual; each building consists of four homes that are arranged in a pinwheel pattern. Hurray for the Oaks at Wildwood in Georgetown TX
Each house’s front door in that building faces a different direction, so they really feel like detached single family homes. But with one big benefit: no yardwork! The yardwork is taken care of by the community association, and so is roof repair and even gutter cleaning. These homes are perfect for the buyer who wants a high-quality home with luxury touches, convenient to all the shopping on Williams Drive but tucked away into its own quiet area, and who doesn’t want to worry about mowing the lawn on the weekends.
So I wasn’t surprised to learn that the Oaks at Wildwood has won an award for Best Product Design (specialty products) from the Home Builders Association of Greater Austin. Their homes are an unusual choice and won’t be for everyone, but they are going to be fabulous homes for a select few.
I’ll tell you what I was surprised to learn: On their website, the development is listed as a 55+ community (meaning that at least one buyer must be 55 years of age or older). I didn’t remember this, so I called my friends at their sales office to confirm. Sure enough, in early June, the current residents voted to convert the property to an age-restricted development. It hasn’t had a noticeable effect on sales because the people who had purchased so far were already in this age bracket. The staff are also promoting the development as single-story living, but they want buyers to know that there are two-story options available if desired.
They told me about another very cool option they’re going to begin to offer soon. Buyers can choose to have a good-sized courtyard with their property, just off the standard sunroom. The courtyard will have a 5′ stone wall, which will give residents a nice outdoor private space. The courtyard can include a firepit, a water feature, or even just a garden space. This is a great feature for homeowners with pets.
If you’re intrigued, give me a call. I’d be happy to take you out to view the homes and see if you are one of the fabulous few! My number is 512-876-6544. I’m here to help.

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