Jim Gilbert's Austin Real Estate Blog

South/Southwest Austin New Home Communities Update

There are still a number of active new home communities in south and southwest Austin below US 71/290. Clearly, the downturn in the US and area economy has affected all of them. Stats reported by the Austin Business Journal show that new home starts are up in the area, but not nearly at the level of 2007 or even 2008. Most of the homes that new home builders are putting up are from contracts with buyers for "to-be-built" homes. There are some exceptions to this "rule," however.

Since my previous blog on new home communities in south and southwest Austin, there have been a number of noteworthy changes. In the update that follows, the links are to neighborhood and or homes-for-sale pages on my HeartofAustinHomes.com website. The updates are mostly for neighborhoods in the 78745, 78748, 78749, and 78739 zip codes.

1. Bauerle Ranch and The Estates at Bauerle Ranch, both developed by D.R. Horton Homes, have been completed.

2. Independence, a "throwback" community of old-style new homes just past Stassney on Manchaca, has been purchased from Newmark Homes by Scott Felder Homes. I have a client who seems genuinely interested in purchasing a home in Independence later this year.

3. In Brodie Springs, builders Taylor Morrison and Grand Haven Homes are both trying to be more competitive in the current market and have introduced some lower priced models. Homes in this lovely neighborhood, located just south of W. Slaughter on Brodie, are still beyond the reach of most home buyers. Grand Haven Homes base prices begin just under $330k; Taylor Morrison's homes begin in the $360s. A client of mine recently closed on a home in Brodie Springs.

4. Southpark Meadows is doing better after a rocky start. It was evident that the timing of the start of home-building by Buffington and Saldana Homes in this neighborhood couldn't have been much worse. Buffington has now sold its six initial homes; Saldana still has 2 or 3 of its homes left to sell. Late last week, neither builder had started any additional new homes.

5. The same five builders are still in play at the Bridges at Bear Creek, located at the southern end of Brodle Lane. Mercedes, Buffington and Lennar have all sold some homes in the neighborhood. Scott Felder has a couple of lovely single-story homes available in the estates section. Randy Rollo has not yet started any homes in the neighborhood.

6. Brodie Heights Condominiums: Though many of these condos (3/unit) have been built and sold, developer D.R. Horton is not doing any building at this time.

7. Sweetwater Glen: These stand-alone, single-family condos have been popular with new home buyers. Builder D. R. Horton recently began development of a new section, and is building some spec homes there. Homes are mostly Hardiplank type siding with muted pastel paint colors.

8. Sage Meadow is one of the new developments in this area. Just opened by D. R. Horton, Sage Meadow features homes ranging in size from 1,299 - 1,856 sq. ft., and in price from the mid-$160s to the low $180s. No completed homes are available at this time.

9. Gabardine, "a tailored pocket of Shady Hollow," is a new development just west of Brodie Lane on Frate Barker Road. It features "flats" and "cottages" built by David Weekley Homes. These units range in size from 1,173 - 1,448 sq. ft., and feature tailoring names such as Poplin, Oxford, Jersey and Woolsey. There are six 2, 3 and 4 bedroom models. Prices range from the $150s to the low-$200s.

10. Enclave at Westgate: My wife and I drove through this new neighborhood last week. Several homes are completed. The builder (CottageCraft Homes) describes the 48 homes to be completed there as "contemporary cottage-style homes." Four floor plans are available in sizes ranging from 1,540 sq. ft. to 1,713 sq. ft. Prices begin in the $200s. If you are looking for a home with "stand-out" color, this subdivision may be for you!

11. The 3 neighborhoods near the south end of S. 1st St. (The Oak at Twin Creeks-KB Home, Meadows at Double Creek-Newmark/Scott Felder, and Ashbrooke-Centex) are still in various stages of development.

12. La Vid is another cottage-style new home (condo) development by Certified Homes, located at 6708 Manchaca. There are 37 1- and 2-story units to be built in La Vid. I showed some of these homes recently. Nice! It looked like almost half of the development is complete. Prices bening at about $220,000.

13. Some building is continuing in Circle C West/Hielschier by Streetman Homes (Stone Creek), D.R. Horton (Alta Mira) and KB Home (The Enclave, Fairway Estates and Enclave Estates).

14. Rose Glen, a small subdivision being built by Meritage Homes, has one home under construction and 6 more to be built. Prices begin around the $250s. This development is located just south of Ben White and just east of Manchaca Rd.

15. Building by Meritage and D. R. Horton is continuing in Rancho Alto, located on Frate Barker Road between Brodie Lane and Manchaca Rd.

16. For home buyers wanting something a bit further out and maybe a bit more expensive than most neighborhoods in this update, take a look at Meridian (at Circle C), which has a number of builders participating in that development, and Rim Rock, a bit further out on FM-1826 just past Salt Lick BBQ. Lennar, Mercedes and custom builders are building in the various sections of Rim Rock.

17. You might also consider two new home communities just west of Buda: Whispering Hollow and Garlic Creek.

Is it a good time to buy a new home? That depends on your dreams and budget. With the slowdown of sales of both resale and new homes, there is a lot of competition for the buyer's dollar. Builders are typically offering incentives; sellers of resale homes are also finding that they need to be flexible on how much they ask for their homes. Don't expect a miracle, but do look for a good deal. It is also wise to be represented by a Realtor in a new home purchase.

I would love to assist you in your purchase of a home (new or resale). Please give me a call at 512.913.1557, or drop me an email.

Related Links:

• South and Southwest Austin Real Estate
• Pros and Cons of a New Home Purchase
• Tips to Consider when Purchasing a New Home

Jim Gilbert, REALTOR, Heart of Austin Homes

Licensed (#0536692) to sell Real Estate in the State of Texas

4501 Spicewood Springs Rd., #1029, Austin, TX 78759 * (512) 342-8744

Open House in Buda's Whispering Hollow Subdivision on Sunday

Whispering Hollow, Buda  -  We invite everyone to visit our open house at 191 Wildcat Draw on July 5 from 2:00 PM to 5:00 PM.

Click here to learn more about this very nice home: Property information.

Follow this link to learn more about Whispering Hollow.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell homes and real estate in the State of Texas.

Sky Realty
4501 Spicewood Springs Rd., #1029
Austin, TX 78759
(512) 342-8744

Garlic Creek Buda | New Home Community

If you are looking for a home that is close to Austin, but far enough away to give you that country feel, you might like the newish Garlic Creek subdivision. Located just west of Buda on FM-967, Garlic Creek has good access to Austin and other points north, to San Marcos and San Antonio and other points south via IH-35. Residents can also get to Austin via FM-1626 and Brodie Lane. Other nice neighborhoods in the vicinity of Garlic Creek include Whispering Hollow and Cullen Country. The subdivision is located close to schools, shopping (including Southpark Meadows, HEB, Cabela's) and the Buda Sportsplex and YMCA.

Sales of new homes in Garlic Creek began in 2007. A drive through the neighborhood will show that building has slowed with the economy. You will also discover a very nice neighborhood with lovely homes built by Centex and Mercedes Homes. Eventually some 850 homes are planned.

Prospective home buyers can find homes on 50' and 60' lots, in sizes from just over 1,500 sq. ft. to almost 3,400 sq. ft. You likely can find or build a new home that fits your budget or locate a resale home that catches your eye also. Prices for new homes run from the mid-$160s all the way to the $250s. Both 1- and 2-story models are available.

The Garlic Creek House, at the heart of the community center, includes a number of amenities that Garlic Creek residents and their families can enjoy. These include an outdoor picnic pavilion with fireplace, swimming pool, basketball court, playscape for children, exercise room and meeting room. Children attend schools of the Hays Consolidated Independent School District.

Click the following link to find additional information on Garlic Creek, including real estate market information, homes for sale and an interactive map of the area.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell homes and real estate in the State of Texas.

Sky Realty
4501 Spicewood Springs Rd., #1029
Austin, TX 78759
(512) 342-8744

Home for Sale, 191 Wildcat Draw in Buda's Whispering Hollow. In-ground Pool! $245,000

New to the market in the very nice Whispering Hollow subdivision in Buda, Texas is this charming 4 bedroom, 2.5 bath, 2-story Ryland-built home. Be one of the first to check it out! It is located at 191 Wildcat Draw.

This beautiful home, built in 2006, has had a single owner. It features a great and inviting in-ground pool (especially appealing in these hot Central Texas days!). The pool, added after the home was built, fits well on the 0.166 acre (+/-) oversized lot (based on the subdivision plat map).

The home has lots of great features, many of which the owners added as upgrades when the home was built. Lower floor features include a large family living area with Pewter ceiling fan, tiled fireplace w/wood mantle, formal dining room, breakfast area, half-bath, utility room and kitchen. The double-pane windows with their custom 2" faux-wood blinds, beautify this area and give great natural light. This level is accented by 12" ceramic hard tile flooring, decorator paint, high ceilings, recessed can lights (kitchen, hallway), and 36" Maple cabinets, 12" diagonal ceramic tile backsplash, center island and black appliances in the kitchen. The formal dining area is large enough to host your family and friends for that special occasion. The home also has an alarm system and water softener.

The second floor has four bedrooms and a bonus room/loft that is being used as a second living area. Access to this level is via an open stairway that has a lovely wood banister. The home has ceiling fans in all upstairs rooms. The large master bedroom suite has two windows providing natural light, elevated ceiling, a bathroom with ceramic tile floor, jetted tub, separate shower, double vanity and walk-in closet.

The exterior of the home has three sides of upgraded stone-look brick. The remaining surfaces are covered by Hardiplank siding. Walk out the back door to a covered patio (with wood columns) and a wood deck that leads to the pool. All is set for you to enjoy a cookout or other party in the large backyard with family and friends. If you have a dog or two, there is also a dog run in the back right corner of the back yard. There are no neighbors to the rear of this home. The yard has a full sprinkler system.

The garage includes a Chamberlain 1/3 HP chain-drive door opener, and an extra 50 amp circuit for the man who works with an air compressor and power tools.

• Click the following link for additional details and photos on this home. 
• Click this link for more information on the Whispering Hollow neighborhood.
• For more information or to arrange a showing of this home, please give me a call at 512.913.1557.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

Sky Realty
4501 Spicewood Springs Rd., #1029
Austin, TX 78759
(512) 342-8744

Cedar Park Town Center Subdivision | New Home Community

While driving through Cedar Park Town Center subdivision late in April, my wife and I saw a man who was out in the neighborhood walking his dog. I slowed down and recognized him as a client who had purchased a nice new home in Town Center about two years ago. (Actually I helped him sell his South Austin home in Park Ridge subdivision, and then purchase his dream home in Town Center.) When I asked him how he likes his home there, he responded that he really likes it. A Realtor is always glad to hear that!

The entrance to this development was clearly well-thought-out, and well-laid-out. Just past the entry sign at Discovery Blvd. you will drive over a lovely bridge that spans a lake. Just past the bridge is a beautiful "throw-back" clock tower, and the beginning of the residential development. The streets in Town Center are wide and well landscaped. The many large oak trees and green spaces that have been preserved in Town Center give it a lot of "curb appeal."

The developer of Town Center is D.R. Horton Homes. Home sales in this neighborhood began in 2004. Development is continuing, though at a slower pace than a couple of years ago. Actually, there was more development in Town Center in May of 2009 than in many Austin area new home communities. D.R. Horton offers twenty different home plans in three series: Classic, Garden Homes and Villa. These modern homes vary in size from 1,308 sq. ft. to 2,389 sq. ft. Base prices begin in the mid $150s and go up to the upper $240s. These homes include many features that make them both livable and enjoyable. 

The neighborhood has a community center that features a pool and playground for children. There are trails for walking and running. Town Center is also close to plenty of area shopping, to Avery Ranch and Crystal Falls Golf Clubs, and to the Lakeline Mall station of the CapMetro light rail system. This new system for getting people to jobs and other opportunites in and near Downtown Austin is scheduled to be in operation sometime in mid-2009.

A drive through Town Center will give you a sense of how nice this neighborhood is. (Follow this Town Center link to learn more about the subdivision, its real estate market, and to browse homes for sale.) Check it out. This may be the neighborhood for you.

If you see a home that interests you, or want more information about homes in Town Center, please give me a call at 512.913.1557.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd., #1029
Austin, TX 78759

(512) 342-8744

Clients Purchase Home in South Austin's Fabulous Brodie Springs Neighborhood!

After a process that began with a contract to build a new home last December, and finished with a final walk-through yesterday and the closing today, two of my clients are the excited owners of a brand new home in the South Austin new home community Brodie Springs. These first-time buyers, who could not be happier with their purchase, are looking forward to making many great memories in this home.

As could be expected in Brodie Springs, this Grand Haven Homes production is loaded with features that will make the home quite livable and enjoyable. In addition to energy saving features, the 4-bedroom, single-story home as built includes stainless steel appliances (not the refrigerator!), granite countertops, wood, tile and carpet floors, a large kitchen island, steam shower and jetted tub in the master bath, a large master walk-in closet with beautiful shelves, large living area with a gas-burning fireplace, prewiring for internet, cable and sound, finished-out side-entry two-car garage with insulated door and opener, full turf and sprinkler system, stone water feature by the garage, covered rear patio that is ready for completion of an outdoor living area, decorative fence, office, ceiling fans, and more! The home is also built with four sides masonry with stucco accents on a large corner lot. How would I sum it up? NICE!

The best thing is seeing the smiles on their faces! Check out the YouTube video that chronicles the construction of their new home. (We took most of the photos and put the movie together for them. They posted it.)

If you want to live close to Downtown Austin, and want the feel of an upscale, south-side neighborhood, give Brodie Springs a look! After a short drive through the neighborhood, you will understand why discerning homeowners like Brodie Springs. It is well laid out with wide streets, lots of trees, large lots, and pretty green areas. Brodie Springs is also close to plenty of shopping along Mopac, Brodie Lane and W. Slaughter Lane, and is a short drive to parks, the Veloway, the Lady Bird Johnson Wildflower Center, Grey Rock Golf Club, and Zilker Park. Take Brodie Lane south from W. Slaughter Lane. You will find the entrance to Brodie Springs on the left a short distance from Slaughter.

In addition to Grand Haven Homes, Taylor Morrison Homes is building in Brodie Springs. Together, these two builders offer around 30 different floor plans (one- and two-story) in prices beginning at about $330k and stretching over $600k. There may well be a home that fits you and your budget in Brodie Springs!

Click on the link in the first paragraph to get more information about Brodie Springs, or to browse Brodie Springs homes for sale. Other nice neighborhoods in the area include Sendera, Oak Parke, Shady Hollow and Bauerle Ranch. You can find information about all of these and more south and southwest Austin neighborhoods at Heart of Austin Homes.

I would love to help you in your purchase of a home in Brodie Springs, or with the sale of your Austin area home. You can reach me at 512.913.1557.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd. #1029
Austin, TX 78759
(512) 342-8744

SOLD! 3/2 Single-Story in Indian Oaks, NW Austin | $173,000

If you are looking for a nice home in Northwest Austin, check out this home at 7000 S. Sioux Trail. It is located in the quiet and lovely Indian Oaks neighborhood, just north of US-183 off McNeil Drive.

This well-maintained home is close-in to Austin, and has easy access to Round Rock Independent School District schools, to jobs and to lots of shopping, golf, entertainment and other things to do. The open family room features a cathedral ceiling with rustic beams, two sky lights, and a stone fireplace with custom built-in shelving & cabinets. The three bedrooms and two baths are laid out in a mother-in-law plan. Floors are hard tile (kitchen, dining and entry), carpet (family, bedrooms and hall) and linoleum (baths).

Three sides stone masonry accented with rust red siding and trim, and the lovely oaks and other trees in the front and back yards, give the home nice curb appeal. The large, landscaped back yard features a patio with stepping stones leading to a large wood deck, making this area a great place to grill out and to spend time with family or friends. There is also a nice 10' x 16' storage building for all those things that won't fit into your garage. The home has a metal roof.

Energy efficiency features include the shade from the trees, double-pane windows, ceiling fan, an electronic thermostat and the insulated 2-car garage and garage door (with belt-driven opener).

With 1,422 sq. ft. +/- (WCAD), the home is priced at $173,000.

Additional home information and photos online on May 22 at Heart of Austin Homes Featured Listings.)

Give me a call at 512.913.1557 for more information, or to schedule a showing.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd. #1029
Austin, TX 78759
(512) 342-8744

4919 Timberline Drive in Rollingwood's Timberline Terrace is Sold!

Timberline Terrace, Rollingwood/Austin, Texas  -  The single-story home on almost half an acre at 4919 Timberline Drive in Rollingwood has been sold! Property information

My seller clients had this to say: "Thank you very much for the job you did in selling our house. We feel that everything went very smoothly. You handled everthing very professionally and timely. I don't think we could have found anyone else to care so much and be honest about every detail." (Jim & Mary Shipwash)

If you have a home to sell in Rollingwood or in another part of the Austin area, or if you are looking for a home, I would love to assist you. You can reach me at (512) 913-1557.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd. #1029
Austin, TX 78759
(512) 342-8744

"Experience and Heart ... Working Together in Austin Real Estate for You!"

Austin "Point of Sale" Energy Audit FAQ

If you own an Austin home, are considering buying one, or are in the Austin Texas real estate business, and are not aware of the City of Austin's new energy audit ordinance, you need to be. Why? It will affect the way real estate is sold in Austin, will add to the cost of selling homes here, and creates more government to oversee this effort. It also will have the positive benefits of helping homes be more energy efficient, saving present and future owners some real dollars in utility costs, and keeping the City from having to invest as much in more power plants or other sources of electricity.

I attended a class last week on the energy audit requirement. Some of my questions were answered, but others were raised. I decided to do some study of the topic on my own and post some information and links that hopefully will be helpful to sellers, buyers and Realtors. Here are some questions and answers about the energy audit requirement (for all the details, please read the ordinance, adopted 11/6/08):

• When does the new energy audit law take affect? On June 1, 2009.
  
• Does the requirement of an energy audit affect the sale of all homes? No.
• The requirement applies to homes within the Austin city limits that receive their electricity from Austin Energy. Energy audits are not required for homes in the Austin city limits which have Pedernales Electric Coop, for example, as their supplier. No audit is needed for homes in areas that are not part of the City of Austin, like Rollingwood, West Lake Hills, Shady Hollow, and Sunset Valley. It seems to be wise for a seller who owns a home that is not covered by the ordinance to have the audit done anyway.
• A home is exempted from the energy audit requirement if it is less than 10 years old at the time of sale, or if the home has previously participated in one of the City's energy efficiency programs. The buyer can also agree to participate in one of these programs within 6 months following the time of sale. Other exemptions include properties being sold as foreclosures or by trustees, short sales in which the seller has previously reached an agreement with the lender to sell for less than is owed, and properties transferred by court order or divorce. See the ordinance for more details.
• The City may also grant variances from the code requirements. These potential variances include sales in which the property will be demolished or substantially remodeled, and cases where the requirement would impose undue hardship on the owner of the property. See the ordinance for details.
  
• Who will perform the audits? The energy audit must be conducted by a trained and certified auditor who is registered with Austin Energy. A list of these auditors is not currently available on the Austin Energy website, but will be posted prior to the start of the program. A person licensed as a home inspector may be trained to do the energy audits also. The two jobs (home inspection and energy audit) are not the same.
  
• Must the results of the audit be disclosed? Yes. When?
• The results of the energy audit must be disclosed to potential buyers "before the time of sale." Time of Sale is defined in the ordinance as "the date of the recording of a deed transferring legal title to real prooperty to implement the sale of a property."
• The City formed a Task Force of 28 community leaders and professionals to help in the drafting of this new ordinance. The final report of the Task Force (dated 9/17/08) recommended "that the City of Austin require that a Seller of a non-exempt home disclose to a prospective buyer the results of an energy audit of the home at the same time that the Seller makes other disclosures required under Texas law." This recommendation is not referenced in the ordinance. It references just the "time of sale" as the time that disclosure must be made.
• The ordinance language seems to make it possible for the disclosure of energy audit results to be made between closing and the filing of the deed. The audit itself would have to be done before closing to insure that the seller could meet this requirement. It seems best, however, for sellers to have this audit done early in the selling process, even before the home is put on the market, so that improvements might be made and potential buyers might learn the results.
• The auditor must file a copy of the energy audit with the City within 30 days of the audit. The City will keep a database of homes that have met the requirement.
  
• What will the energy audit cost? The cost of the audit, to be borne by the seller, is not set in the ordinance. The estimate given in the class I attended was $300-$600. The variation depended on the size of the house and the number of A/C systems in it. The largest portion of the cost is pressure testing the home's duct system to locate air leaks into the attic.
  
• What is the focus of the energy audit? The focus is to be on helping homeowners to find ways to improve the energy efficiency of their homes. Items that are known to be the worst energy wasters include A/C system duct leaks, attic insulation, windows that receive at least 1 hour of direct sunlight daily, and weather stripping around exterior doors, for example. This statement is from Austin Energy's April 2009 PowerPlus newsletter: "An average 25-year-old home that has never had energy efficiency upgrades has an air conditioner that uses almost twice the power of new models, needs 6-8 inches of additional attic insulation and has duct work that is leaking on average about 30% of cooling into the attic."  The audit report will address what can be done to make the home more energy efficient.
  
• How often must the energy audit be redone? After the initial audit, the home meets the requirement of the ordinance for 10 years. No further audits would be required if the home is sold again within that 10-year period.
  
• Are energy efficiency upgrades mandated by the ordinance? No. The energy audit is requied for homes without an approved cariance or an exemption. Efficiency upgrades are voluntary.
• The Task Force recommended in its final report that the City adopt a target that 25% non-exempt single-family homes sold in the first year of the program would perform some or all of the identified upgrades. This target would increase to 85% in the fourth year. The Task Force estimated that 4,000 of the 10,000 homes sold in Austin in 2007 likely needed energy efficiency upgrades.
• After the second year of the program, a report detailing progress would be made by the City Manager to the City Council.
• Initially the ordinance would have made it mandatory for all owners of non-exempt homes to perform Cost Effective Upgrades within a year after sale if the yearly targets are not met for two consecutive years. The Task Force voted against this provision in its final report. After the first two years, the City may revisit the idea of making upgrades mandatory.
• Potential buyers may choose a home in which potential upgrades have been identified and made over a home in which there are deficiencies that should or could be corrected.
  
• What if I have my home on the market before June 1, 2009? Any home without a variance or exemption that is sold after the ordinance takes effect must have the energy audit performed.
  
• What if I choose not to get the energy audit done? The ordinance as adopted makes failure to have the audit done a criminal offense (!) that carries a fine of up to $500, or more in the case of "criminal negligence."
  
• Is there any help available for sellers or buyers who implement energy efficiency upgrades? Yes. There are a number of rebate, tax credit and loan programs available through Austin Energy, Texas Gas Service, and the federal government. Participation in these programs will reduce the owner's out-of-pocket expense for these upgrades.
  
• Is there any alternative to the energy audit? At least one company (Strand Brothers) offers home sellers a free, pre-sale energy audit and report (no duct leakage test included). If homeowners do enough upgrades to meet the minimum guidelines before the home is sold, they are provided a certificate for display and would not need the City of Austin energy audit.

Golf at River Place Country Club

I had the privilege of playing the golf course at River Place Country Club this week. This private country club is the primary amenity of the upscale West Austin River Place subdivision and residential development.

If you want to play some Hill Country golf and at the same time enjoy some fabulous Hill Country scenery, then you will want to find a way to play the River Place golf course. (For some the best way is to become a member of the River Place Country Club.) This 18-hole championship layout, designed by Austin PGA and Champions Tour star Tom Kite and Roy Bechtol, features a large practice range, chipping and putting greens, and a bunker for practicing those menacing sand shots. There are four sets of tees for players of varying skills. The red tees are the shortest at 4,720 yards. From the tips the course measures 6,691 yards.

From the bronze tees, the layout of holes #1 - #9 is just 3,049 yards long, but what a challenge these holes are! Can you say, "Keep it in the short grass?" If you don't, the ravine that crosses and parallels most of the holes can eat up a lot of golf balls! I wondered just how many balls might be "down there."

Local knowledge is helpful in playing this course. Take hole #1, a downhill, 380-yard, dogleg left par 4, for example. You can hit a "perfect" draw, and end up in the ravine that is hidden from view at the tee box and that crosses the fairway in front of the green. My hybrid tee shot ended up about a yard from the ravine! Keeping the ball in the fairway short of the trouble will give a relatively easy second shot to the green.

#2 is a lovely, downhill par-3 that requires a short iron tee shot over the ravine and water. The green is protected by bunkers short left and long. Key: don't be intimidated by all the ways to find trouble. Take dead aim at the green. A good shot will leave a putt for birdie.

My notes for holes #3 through #9 all mentioned the ravine in one way or another: "don't go left," "tee shot across ravine," "don't go right!" My drive on #4, a 534-yard par-5 was dead center. But, my well-struck second shot went into the unseen wide ravine ahead. A little local knowledge there would have helped to save my Titleist ProV1 from an untimely demise! 

Hole #7 is a dogleg right par-4 that requires a tee shot across the ravine, I decided to play a fade off the tee. Since this is a shot I normally do not try, I was pleasantly surprised when the ball left my driver clubface, and faded slightly to the middle of the fairway. With that success, I was encouraged to try that shot again later in the round (#17).

The front nine ends with a trip through a tunnel as the cart path leads to the 10th tee. The view at the end of the tunnel, an overlook across some of the course and neighborhood, is great!

The Hill Country and golf course views really are two of the best features of the back nine! From the bronze tees the last nine measures 3,079 yards. The layout is still challenging, but the ravine does not come into play as much as it does on the front nine. The 12th hole is a 121-yard par 3. That sounds easy, but there is water at the right side of the green and a large sand trap to the left. Unfortunately, I put it in the trap and had a bit of trouble getting out.

The 476-yard par-5 13th hole has a ravine running along the right side, and a well-stocked pond in front of the green. The stock? I did not see any fish, but there were plenty of golf balls! I got the feeling that many golfers had passed by this pond wishing that their balls had avoided this watery grave.

The par-4 15th hole is just 274 yards from the bronze tee. I had a go at it with my driver and ended up on the cart path, hole high, just to the left of the green. If only I had hit that fade!

My best memory of this day's play on the River Place golf course came at the 17th hole. Measuring 553 yards from the bronze tee, I began the hole with the thought that it would take me 3 good shots to get to the green. The hole is a slight dogleg right, so I decided to hit that fade off the tee. The shot came off perfectly! What I did not know is that about 275 yards or so from the tee, the fairway begins a fairly steep slope downward. My ball went far enough to catch that slope and ended up at the bottom, just across the cart path, dead center in the fairway, and about 225 yards from the green. The drive measured almost 330 yards! The 225 yards left to the green were uphill. I pulled my 5-wood and decided to try the fade again. When the ball came off the clubface just as I had planned, I expected it to land short of the green and roll on. There I hoped to have a putt for an eagle. When we approached the green, there was no ball in sight! After a little searching, my playing partner found it in the light rough beyond the green! On further inspection, the ball had left a pitch mark when it landed at the very back of the green. I finally walked off with a par, and am still wondering just how the ball had gone so far twice! Maybe it was that Callaway Tour iX I had found earlier in the round.

The 18th is a nice finishing hole. From the left side of the fairway, I hit a wedge to within 10 feet of the hole and had two more putts. I had trouble getting the speed and breaks of the greens right most of the day!

Overall, my experience at River Place Country Club's golf course was a very nice one. The weather was perfect, the course was challenging, and the views were inspiring. In addition, I was able to hit enough good shots to make me want to play the course again!

In addition to its golf course and fully-stocked pro shop, River Place Country Club has eight lighted tennis courts, a state-of-the-art fitness center, a junior Olympic swimming pool and meeting, eating and banquet facilities. For information on the Club and membership packages, go to Club Info on the River Place Country Club website, or call Membership Director Raquel Hebben at (512) 346-1114 x247. The Club is located at 4207 River Place Blvd., Austin, TX 78730. Membership does not require residence or ownership of real estate within the River Place community.

For information on the River Place Austin subdivision and homes for sale, follow the link at the top of this blog, or give me a call at (512) 913.1557.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd. #1029
Austin, TX 78759
(512) 342-8744

Rim Rock Subdivision | Austin | Driftwood | Real Estate

If you are looking for a nice home, or a place to build a home, in the Hill Country real estate southwest of Austin, it might be worth your while to take a gander at Rim Rock. This upscale neighborhood, begun in 2006, is located off FM-1826 about 4 miles from Driftwood, and is very close to an Austin food favorite: Salt Lick BBQ. Rim Rock is about 19 miles from downtown Austin. The setting for Rim Rock is quite serene: away from the hustle and bustle of city life, yet close enough to Austin to enjoy all it offers in the way of jobs, entertainment, shopping and sports (including the Grey Rock Golf Club).

Homes in Rim Rock typically range from the $300s to more than $600K. Lots in the original section of Rim Rock can be purchased for a custom build (choose your own builder). All Rim Rock lots are at least 1 acre in size. Some are larger than 2 acres. In late March 2009, there were still plenty nice lots available.

In the newer sections of Rim Rock, builders Lennar Homes and Mercedes Homes offer a number of choices of floor plans and home sizes. Mercedes offerings start at a base price of just above $300K, and range in size from 2,600 sq. ft. to 4,130 sq. ft. Lennar's homes range in size from near 3,100 sq. ft. and go up to 4,230 sq. ft. Lennar's base prices begin at around $440,000. All of these homes are feature-packed to enhance the quality of life at home. Upgrades to home features and building elevations are available from both builders.

Students living in Rim Rock attend schools of the Dripping Springs Independent School District.

A drive through Rim Rock (follow this link to learn more about Rim Rock and to browse homes for sale in Rim Rock) will give you a sense of how nice this neighborhood is. Check it out. Other nearby new home communities include Belterra and Highpointe.

If you see a home that interests you, or want more information about Rim Rock homes, please give me a call at 512.913.1557.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd., #1029
Austin, TX 78759

(512) 342-8744

Understanding Austin Texas Real Estate Statistics

The program hosts and guests on the CNBC network know a lot about the financial world. I often watch some of the shows to see what is happening and to see what I can learn. The terms they use show me how little I know! However, when the Dow is headed up, I know that is in the right direction. If it is going down, I understand what that means also.

Basic real estate language is (for me, at least) simpler than the financial lingo is. Having an understanding of some basic terms can be helpful to both buyers and sellers in deciphering local and other news reports on what is happening in the real estate market. Here are some of the commonly used terms:

List Price: What the seller is asking for his property. The MLS stats table for the Austin Sendera subdivision (Austin Board of REALTORS®, 1.1.09 through 3.31.09) includes data for both the list price (LP) when the home went under contract and the original list price (OLP). It is not unusual in this market for sellers to lower their list price during the listing to attract a buyer.

Sales Price: The amount a home sold for. In Texas, the sales prices of specific properties are not public knowledge, but they can be accessed by your Realtor® to help you decide on a price for listing a home for sale or for making an offer on a home that is for sale. One of these estimates of value is usually called a Comparative Market Analysis, or a CMA. Many Realtors® offer to do a CMA as a free service for homeowners.

Note: For tracking the movement of the real estate market in an area (whether a neighborhood, an MLS area, a city, etc.), some other stats are also used.

$/sq. ft.: How much a home sold for per sq. ft. of living area. Square feet is usually defined by air conditioned space and measured by external dimensions. Garages are usually not included in this calculation. MLS listings typically display the square footage that is in the county tax record. Sometimes the number of square feet in the tax record does not match the actual square footage of the home, and the square feet listed may show the source to be appraiser, owner, etc.

Median Sales Price: The sales price in the middle of the range of sales prices. In this group of numbers [1, 3, 4, 7, 9, 11, 15], 7 is the median. Three of seven homes in Sendera sold for less than $206,700 and three homes sold for more than $206,700.

Average Sales Price: The total of the sales prices of all homes sold divided by the number of homes sold in that period. The time period may be a month, a quarter, etc. In the Sendera table, the average sales price for the 7 sales is $204,243. While other regions of the USA have seen some dramatic drops in property values, those in the Austin area (Sendera included) have held up pretty well. The average sales price can be skewed in a neighborhood when one property sells for far more than others.

Note: Both median and average sales prices are useful for following trends in the Austin real estate market, especially in a particular neighborhood. More specific information is needed to establish the value of an individual home.

Days on Market (DOM): The number of days from the time a home is listed for sale to the day it goes under contract. Both median and average DOM are reported. The graph below, from the Austin Board of Realtors® Feb. ’09 Residential Sales Report, shows that the average DOM in the Austin market has increased to its highest level in recent years. (Based on information from the Austin Board of REALTORS® for the period 1.1.03 through 2.28.09.)

Months of Inventory (MOI): The number of homes available for purchase divided by the number of sales per month (an indication of how long it would take to sell them all). When the data for this blog was collected, there were 21 homes for sale in Sendera. Based on the 2.333 average sales per month in the past quarter, the MOI for Sendera is 9 months. 5-6 months is typically referred to as a balanced market. If the MOI is less than 5, the market is typically a seller’s market. More than 6 months’ inventory is referred to as a buyer’s market. The MOI will vary as the market trends play out. In Sendera in the year 2007, homes sold at an average rate of 7 per month. The MOI indicated that the neighborhood market was then a seller’s market.

Note: the MOI depends on the time period used to view the market trend. The Austin Board of Realtors® uses the previous 12 months of “solds” to calculate MOI. On this basis (58 sales in the past 12 months), Sendera’s MOI would be 4.34 months (21 active listings/4.833 average sales per month). The current market turnover is slower than this, but it should pick up as we enter the main home selling season.

Summary: If you want to sell or are in the market to buy a home, it is best to get as local a snapshot of the market as you can. Why? If you are looking in south or southwest Austin for a 3-bedroom home built after the year 1999, you will have many options. The options will need to be narrowed down to a specific neighborhood, home size, price range, feature set, etc. That’s when a CMA comes in very handy. It will allow you to see what similar or comparable homes have sold for in that neighborhood and what properties are currently on the market there.

Hopefully, these definitions and examples are helpful.

If you are thinking about buying or selling a home in the Austin Texas area, I would like to assist you. You can reach me at (512) 913-1557.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd., #1029
Austin, TX 78759

(512) 342-8744

Austin Texas Real Estate: List Prices and Sales Prices

In an earlier blog, I discussed the cyclical nature of the Austin Texas real estate market. When viewed over a several-year period, the market cycles are predictable in many ways. What cannot be foreseen from the historical data is what will happen in the future—what the highs and lows of the market will be.

Just a year or so ago, homes in the Austin market, because demand was high, were "flying" off the market. In the Southwest Austin Sendera neighborhood where I live, it was not unusual for sellers to get multiple offers and to sell their homes for list price or above. That is not the norm in the current (April 2009) market. Another thing that is impacting Austin real estate sales, in addition to lower sales volume and longer sales times, can now be seen: the percentage of original list price (OLP) that sellers are getting for their homes is down. (Based on information from the Austin Board of REALTORS® for the period 1.1.05 through 2.28.09.)

The chart featured above was published by the Austin Board of Realtors® in its February 2009 Residential Sales Report. From January 2005 through mid 2007, when the Austin real estate market began to slow down, sellers could expect to receive, on the average, between 95% and 97% of their OLP. (It also can be seen that sellers typically average a lower percentage of their OLP in the winter months than they do in the rest of the year.)

From the middle of 2007 to the present, this average % of OLP that sellers get on the sale of their homes has declined. In February 2009, the percentage was 91.6%. (That percentage will venture up some if the historical cycle holds true for the coming months.) Can you say, “That hurts?” Maybe not, if you are a buyer!

What does this mean for sellers? It means that you may need to adjust your expectations. It does not mean that the sale of your home will net the average percentage of sales price to OLP. What you get may be higher or lower. It is important to price your home well—as seen in relation to what is happening in your local area of the market, the neighborhood in which you live.

If you are a buyer, the average does not necessarily mean that you can make an offer or expect to get a contract at 91-92% of the seller’s OLP. So many factors determine the market value of a home. These include its condition, features, location and the comparable homes sold in that neighborhood. You may be able to get a home for less than the average % of OLP. You may have to pay more. Remember, the number quoted in the report is an average.

If you are thinking about buying or selling a home in the Austin Texas area, I would like to assist you. You can reach me at (512) 913-1557.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd., #1029
Austin, TX 78759

(512) 342-8744

Austin Real Estate Market Cycles, 2003-2009

Do you wonder what the typical cycle of business activity in Austin real estate looks like? The graph below, published by the Austin Board of Realtors® in a February 2009 report, shows that listing and sales activity follows a pretty repeatable pattern every year. What varies the most is the height and depth of the cycles. (Based on information from the Austin Board of REALTORS® for the period 1.1.03 through 2.28.09.)

The Austin Real Estate Cycle: New listings historically reach their low in January following the holiday season. Closed sales follow this trend, though about a month behind the new listings. The volumes of new listings, pending sales and closed sales then begin to rise and reach their peak in the middle of the summer. They drop off again as the year heads into the fall months and bottom out once again.

Austin Real Estate Market History: As can be seen, the strongest Austin real estate markets in recent years occurred in 2006-2007. Sales numbers were the highest in 2006 and prices were still appreciating well. As sales began to slow in 2007, appreciation slowed also. Since that time, prices have pretty well stabilized in the Austin area. Sales have continued to drop, significantly in some areas and neighborhoods. Total sales in January and February of 2009 are close to the level they were at in early 2004.

Effect on Austin Home Sellers: Some sellers anticipate the spring and summer selling season by putting their homes on the market just in advance of this time. When demand for homes is up, conditions typically favor sellers. Other sellers may want less competition from other listings and try to sell at times when there are fewer properties on the market. Of course, some sellers may have little or no option on when to list their homes for sale because of job transfers, job losses, or other circumstances. The key thing in any market is setting the list price correctly because the right price may be the thing that makes a home appealing to a prospective buyer.

What about People who want to Buy an Austin Area Home? It is in the spring and summer months, when the Austin real estate market is its strongest, that more buyers look for new homes. The current market (April 2009) finds sellers (owners and builders) adjusting their expectations of what their properties will bring. Why? Homes are selling more slowly and buyers are looking for bargains. How? By reducing prices and offering incentives to lure potential buyers. Buyers may discover that they have the upper hand in negotiations, especially if sellers are in the position of needing to close the sale of their homes.

When to Sell or Buy an Austin Home? Is it a good time to sell? That depends on the need and motivation of the seller. If you can wait, a better time to sell may lie ahead. Is it a good time to buy a home? With low interest rates, lots of homes on the market and the downward pressure on prices, it may be. If you are a first-time buyer and close on a home before December 1, 2009, you may be able to take advantage of an $8,000 federal tax credit.

If you are considering buying or selling a home in the Austin area, I would like to assist you. You can reach me at (512) 913-1557.

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd., #1029
Austin, TX 78759

(512) 342-8744

Grace and Truth in Real Estate

As I read John Chapter 1 last week, a verse written to describe Jesus Christ came freshly to my heart and mind. John, the writer of the verse, says, "And the Word became flesh and dwelt among us, and we beheld His glory, the glory of the only begotten of the Father, full of grace and truth." (John 1:14) How many times had I read this verse before?

This time the words "full of grace and truth" stood out. Grace is often defined as giving people what they do not deserve. We can give grace in many ways: with kindness, thoughtfulness, respect, understanding, forgiveness and love, for example. The truth is that we all need grace, especially the grace of God. Truth is having nothing hidden -- all is disclosed to the light of the sun. Jesus' life and words reflected the grace and truth with which He was filled. He was the Master of these.

I sat thinking about grace and truth in real estate. When is grace required in real estate? When do people need kindness, thoughtfulness, respect, understanding, forgiveness and love? Generally as often as they want to, or say they want to, buy or sell a piece of property. Some need more grace because of attitudes they bring, actions they take or promises they break. Some need less grace. But, they all need grace. Might I add that I need it also?

Truth is also required in Realtors. How do you tell a client that the list price he wants is too high for the current Austin TX real estate market? With truth and grace. How do you tell him that everything that is material to the condition of his property must be disclosed to potential buyers? With truth and grace. How do you tell a buyer that her offer on a home has been rejected? With truth and grace. How do you inform your client that you did not take care of some detail in a contract? With truth and grace. How do you help a client deal with a seller or buyer or agent on the other side of a transaction whose actions and words seem less than truthful or lacking in grace? With truth and grace. How do you help a client deal with the disappointments that often come with a transaction: low offers, documents not delivered in timely fashion, etc.? WIth truth and grace. The applications could go on, but you can see what I have been thinking about.

Maybe my thoughts can be summed up with Disclose! Disclose! Disclose! ... always with grace! Sometimes people and events in my real estate business challenge my desire to dispense grace and truth when and as I should. So, I look to the Lord for more of His grace so I can meet these challenges as they come. 

Jim Gilbert, REALTOR, Heart of Austin Homes. Licensed (#0536692) to sell real estate in the State of Texas.

4501 Spicewood Springs Rd., #1029
Austin, TX 78759

(512) 342-8744