Archive for the ‘ Georgetown Real Estate ’ Category

January home sales in Georgetown, TX

Monday, February 9th, 2009

I waited until February 9 to run the MLS report to give agents around Georgetown plenty of time to enter their January sales into the database. Even so, the number of sales for this January is lower than those of any other January this decade.
Georgetown Texas home sales, January 2000 - January 2009
2003, the next lowest year, saw 45 sales in January. This past month, only 32 properties went to the closing table. (It’s possible that number could creep up a little bit if an agent or two has yet to enter their sales into the database, but we won’t get enough additional sales to bring us out of last place for the decade.)
Sellers, it’s time for a reality check. There are currently 617 residential properties on the market in MLS areas GTE and GTW. At the current rate of 32 sales per month, that means we have almost twenty months of inventory. Sales have to pick up to absorb some of this inventory. Interest rates are very low, but loans are hard to come by. There simply aren’t very many qualified buyers out there, and the ones who are shopping are looking for bargains. And so they should. Wouldn’t you?
And in fact, you still can. If you lower your asking price, you won’t pull out as much equity as you’d hoped on your current house. But…you’ll in turn get a bargain when you buy your next home.
My honest advice to sellers right now is, if you’re not willing to lower your price, then now is not the right time for you to try to sell. Pull your house off the market and wait until the market swings back in your favor. If you can’t wait, then price your house below the competition - as far below as you can handle - and make sure your house is as pretty as it can possibly be. With one buyer out there for every 20 homes on the market, you have to do everything in your power to make yours the best house that buyer can get for the money you’re asking.

A lovely First Friday on Georgetown’s square

Saturday, February 7th, 2009

Last night, my husband, neighbor, and I walked to the square to enjoy the First Friday festivities. (With a major caveat: Because we’re all still trying to stick to our New Year’s diet resolution, we couldn’t enjoy any of the chocolate treats on offer in the Death by Chocolate event.) The downtown merchants, together with the Downtown Georgetown Association, created a very fun, welcoming atmosphere.

On the corner of Main and 8th, a small country band played music to entertain the visitors. Over on 7th Street, between Main and Church, a saxophonist offered a jazzier tune. (Because the musicians were far enough apart, you couldn’t hear them both at the same time. Thank goodness!) There was quite a nice turnout, and everyone seemed to be smiling.

Tucked off the square on Main Street between 7th and 6th, The Framers Gallery launched an art show that will be running for the coming month. Lots of guests milled around inside the gallery, moving from one exhibit to the next. Nick Ramos of Graphismo, a local graphic artist, offered a show called Happy Crisis. (Nick feels that many crises in life are really opportunities for change and re-examination, and often make one’s life better.) My favorite piece in his show is A Bird in the Hand. You can see one of his preliminary sketches here. To see the real thing, go to The Framers Gallery this month. Excellent work!

After visiting the art show, we wandered over to Diva, one of my favorite boutiques. At Diva, you can find elegant, quirky, and sumptuous home decor. Nothing run-of-the-mill. As part of the First Friday festivities, Silver and Stone Restaurant was set up in Diva, offering a chocolate cheesecake truffle (which I resisted) and a delicious red wine (which I didn’t resist).

First Friday events are held throughout the year on the first Friday of every month from 6-8 p.m. (During the hotter months, the time is usually moved back by one hour to take advantage of cooler evening temps.) Come have dinner and enjoy everything the square has to offer!

New Listing: 200 Lakeside Drive in Gabriel’s Overlook

Sunday, January 18th, 2009

My friend Sheila Evans has an incredible listing in Gabriel’s Overlook, a very appealing subdivision west of Georgetown. Gabriel’s Overlook is full of hidden secrets. After entering through the security gate, you drive down long, winding roads, through large trees, and everywhere you go, you see beautiful brick and stone homes set far back from the roads.
Perhaps the most beautiful home in the neighborhood is at 200 Lakeside Drive. I love the warm brown color of the stone. All the different angles and slopes of the roofline make the home architecturally intriguing. The home, more than 3200 square feet, has four bedrooms, three-and-a-half baths, and a three-car garage. The lot size is a very generous 1.45 acres with fantastic views that make it feel even larger. As a special touch, the custom builder has provided sprinklers and will make the landscaping look beautiful. (Timing is everything with landscaping.)
Home in Gabriel's Overlook, Georgetown TX
Gabriel’s Overlook is a gated community with security access, so you need to call Sheila Evans to arrange to see it (or your Realtor if you’re already working with someone) . Sheila’s very down-to-earth and fun, so give her a call at 512-876-5216 or email her at sheila@moreland.com.

Georgetown Texas 2008 home sales

Friday, January 9th, 2009

In December, in MLS areas GTE and GTW, 80 residential properties sold. I was surprised to discover that December of last year was slower, with only 68 sales. This past month represented a big leap from November, when only 60 homes sold. November was really, really slow, but things may be looking up.
Georgetown Texas home sales-2008
As a whole, the year of 2008 was significantly slower than 2007. 1086 homes sold this year, down from 1265 in 2007. (Are the numbers making your head spin yet? Just wait.) Homes spent longer on the market this year, as well, an average of 84 days compared to last year’s 70. But the median home price actually increased slightly. In 2007, the median home price in Georgetown East and Georgetown West was $185,000. This year, that number rose by $4,000, to $189,000. The table below shows how the median sales price changed from month to month during 2008.
Georgetown Texas median home prices-2008

Georgetown is apex of forming medical triangle

Tuesday, January 6th, 2009

Local commercial real estate agent Bob Sedlor has put together a very interesting web page on the medical triangle that’s forming in Williamson County. With hospitals such as St. David’s here in Georgetown, Seton Medical Center Williamson and Scott & White in Round Rock, local residents have a plethora of options when it comes to medical care.

One of the commercial developments that Bob mentions on his site is The Fountains of Georgetown South, on South Austin Avenue. The Fountains are office condos, which are expected to be occupied primarily by people in the medical profession. A group of doctors are together developing the Georgetown Medical Plaza not too far away. Austin Avenue is going to look very different in a few years.

Green building practices update former hotel on Main Street

Monday, January 5th, 2009

As an Old Town resident, I take full and frequent advantage of my proximity to the square by walking the historic streets of Georgetown. My husband and I love to stroll together to the square. It’s fun to see all the homes being fixed up. Most people who move to Old Town do so because they love the sense of time and place that we get here, which is unlike anything you’ll find in a more modern subdivision. Some of the lots are kind of wonky - oddly shaped, homes built just a few feet from the curb - and this unevenness adds to the appeal. Nothing “cookie cutter” about the Old Town character.
The square and the blocks surrounding it enhance this historical character. Georgetown as a community values beautiful architecture. At 1008 S. Main Street, an intriguing renovation is taking place. I’ve been watching it for a couple of months now, and I finally got around to visiting the website the developers have created. 1008 South Main Street, Georgetown Texas
The former Sherman Hotel will soon be an office building. Wouldn’t that be a wonderful place to work? A block away from Dos Salsas restaurant, and two blocks from everything the square has to offer. (When my husband and I were looking for a home, we specifically wanted to be within walking distance to Dos Salsas. It’s that good!) Ordinarily, parking can be an issue in Old Town, but the building looks like it will have ample parking right beside it.
The renovation has been designed by local architect J. Bryant Boyd. According to the website, the developers are using green building practices. The greenest thing they could have done was to renovate the building that’s there, rather than tearing down and building a new one, so they’re already way ahead of the curve. As the Georgetown Heritage Society said with the theme for their recent Holiday Home Tour, “There is no greener home than an existing home,” which holds true for commercial properties, as well.

November home sales in Georgetown, TX

Tuesday, December 16th, 2008

The holiday season has kept me from posting as often as I’d like. For the past week or so, I’ve been planning to write a nice, meaty article about home sales in the MLS areas of GTE and GTW (Georgetown East and West). Finally, today is the day. Hurrah!
Georgetown Texas real estate
I had a recent online conversation with a former math teacher who suggested I provide information on the mean sales prices, rather than the average. Instead, I decided to do both, and to throw in the median prices, too. For the past five Novembers, the mean and median sales prices were nearly identical.
Georgetown Texas real estate
As you can see clearly from this chart, the sales prices have continually risen, even in today’s tough real estate climate. For those of you trying to sell a home out there, please don’t use this as a reason to price your house too high. There are a lot of homes on the market. 597, to be exact. With just 57 sales this past November, that means we have more than 10 months of residential inventory at the moment. Buyers have the power. If you want to sell quickly, you need to price your house to sell.
The chart below tells another chapter of the November sales story. In 2007, homes spent an average of 74 days on the market. This year, that number jumped to 91 days. One home spent 330 days on the market before finally selling. That’s nothing compared to a house in Sun City Texas that’s been on the market but is finally now under contract. If you want to sell your home and get on with your life, then price your home to sell. Give the buyers such a deal that they simply can’t resist, and know that you’ll probably get just as big a deal on your next house.
Georgetown Texas real estate

Homes on 1 acre + ($200,000 - $325,000)

Thursday, December 4th, 2008

Yesterday, a reader called me to ask for some very specific information. He’s trying to decide whether or not to buy a home, and he wants to get started by doing his due diligence. Smart! He wants to get to know the market so that when he’s ready to buy, he can make an informed decision.
He asked me if I could help him find some information about homes with at least an acre that had sold over the past two months for $250,000 to $325,000. I expanded that a little bit and started my search at $200,000. A little more information never hurts. I told him that I would write an article about my findings, and that I would send him a spreadsheet with more details.
I love when people call me to ask specific questions. This website is much more fun and interesting with that interactive element. I created HometownGeorgetown.com as a way to meet people who are interested in buying or selling a home, so I’m happy when my phone rings. All I ask in return is that when you’re ready to take that next step, you keep me in mind. Give me a call at 512-876-6544 or email me at jenel@HometownGeorgetown.com. I’m here to help!
Ten properties came up in my search of MLS areas GTE and GTW. The map to the right shows the location of these properties. The newest of the homes was built in 1997. The average year built is 1983. Newer construction on 1 acre plus tends to be priced significantly higher. Georgetown Texas home sales
I was surprised to find the majority of the sales were west of the freeway, in the MLS area known as GTW. I had expected to find homes in this price range to be in GTE. A couple of the homes are in Serenada, which is one of my favorite neighborhoods. The trees in Serenada are incredible. They’ve been there a long, long time, and so they look substantial and comforting. Just gorgeous.
The average sales price per square foot of these homes was $126.39. This number was brought up by one property that is on nearly 9 acres. When we take this property out of the mix, the average price per square foot drops to just over $120. This particular property sold the fastest, spending just a couple days on the market before going under contract. The average active days on market for the ten homes was 133. During the properties’ time on market, the list prices dropped by an average of about $43,000. This average was brought up drastically by the price reduction of almost $200,000 on two of the homes. The owners of those two homes obviously started out with a very unrealistic view of the worth of their properties. When you take these two homes out of the mix, the average price reduction was a much more reasonable $7,635, or 3%.

This week in residential real estate in Georgetown, TX

Sunday, November 23rd, 2008

Almost half of the sales that show up in this week’s hotsheet took place in Sun City Texas. The average price per square foot of all the homes was $119.70, ranging from about $60 per square foot all the way up to over $200. On average, the homes sold for 92% of the original list price. I was very interested to note that only 5 of the 14 homes that showed as Sold on this week’s hotsheet had experienced a price reduction while listed on the market. These homes ended up selling for 94% of the list price. The homes that did experience a price reduction ended up selling for 98% of the final list price. Georgetown Texas home sales activity for week ending November 23
45 homeowners reduced their prices over the past week in GTE and GTW. These homes have been active on the market for an average of 89 days.
If you have any specific questions about the Georgetown real estate market that you’d like me to explore here on HometownGeorgetown.com, please drop me a line at jenel@HometownGeorgetown.com or call me at 512-876-6544. I’m here to help!

Local central vacuum company could benefit from Little People, Big World

Friday, November 21st, 2008

Just Right Homes, a local company that installs the coolest central vacuum system I’ve ever heard of, could see a bump in orders after the November 24 episode of Little People, Big World on TLC. Ron Marullo, President of Just Right Homes, told me that one of the central vac products he distributes is going to be installed in the house on the reality show. What’s so cool about this system is that it features retractable hoses at each vacuum port throughout the house, so there’s no need to lug a hose from room to room. The system can be retrofitted into existing homes, or installed during the construction process.

Just Right Homes is based out of Cedar Park, TX and serves the greater Austin area. They also install home theatres and surround sound.

« Older Entries | Newer Entries »

Top of page