Austin Real Estate

Btw, I said 18% below ATH, not 18% below initial asking price. The 2nd house is listed at 18% below ATH, it didn’t cut any prices from initial asking price.

Ofc almost identical configuration, interior and lot size. Easy to find ‘identical’ homes in Austin since many master planned community of tens to hundreds of homes.

Pending after 26% drop from initial asking price.

ATH in that neighborhood is about $450k. So seller’s initial asking price is 7% higher than last ATH.

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Hutto. Didn’t monitor Liberty Hill :wink: My feeling is similar. Both Hutto and Liberty Hill are fairly speculative in that they are quite close to the definition of a zoom town. Please note could be an isolated case.

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So is not just in Austin.

3 days ago…

Prices in my neighborhood is crashing.

ATH = $1.575M in early May 2022 - this is the greatest fool
2nd highest = $1.1M in early Mar 2022 - this is real peak
In 2021, all transacted at less than $1M
In 2020, all transacted at less than $750k
In 2019, all transacted at less than $650k

A house listed in end May for $1.275M, dropping asking to $1.05M, still no taker. Ignoring the greatest fool price, the seller still wants to sell at peak price. Comparing to the ATH (greatest fool) price, asking has crashed by 33%. Actually, not much change (less than 5% drop) from the real peak. This is the situation for most neighborhoods that I am monitoring.

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@mcp

Liberty Hill. If your friend has bought in Santa Rita Ranch, it is an upscale MCP* built by premier developers such as Scott Felder, Perry Homes and Coventry Homes. Long term should be good.

*Master Planned Community

Leander. Upscale MCPs are Travisso and Crystal Falls. House prices go up to few million dollars rivaling SV :slight_smile: and WestLake Hills of Austin.

Crystal Falls. For the price of a typical ranch in SV, very luxurious house on an acre lot.
https://www.redfin.com/TX/Leander/913-Dream-Catcher-Dr-78641/home/45399417

Travisso. For the price of a typical ranch in SJ,

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Just out. Property tax for 2022… Drop slightly :wink: despite rising property prices. Homestead :+1: This year is less than 2% increase of Prop 13 of CA.

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These things don’t matter much when 1-2% of homes change hands a year. Only 1-2% of people are making the high payment. Everyone who bought previously has the lower payment.

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@REInv

For the price of a home in SJ, you get this type of luxurious lifestyle in Rough Hollow,

Now :pray:t6: that Fed didn’t drop an atomic :bomb:

Amenities of Santa Rita Ranch in Liberty Hill. In SG, we call that full facilities condo :slight_smile: Plenty of such condos in Singapore.

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