I always run the statistics for Lake Travis ISD because so many people ask me everyday, especially on Sundays (during an Open House) how the market is. It really isn't so bad especially when a home I listed for $1.09M sold in 2 weeks! The home by Stadler Custom Homes is already in contract and we expect to close in 2 weeks. Oh BTW, the home on Emerald Falls, went in contract only after 7 days on the market and the home closed end of October.
What does this mean? There are buyers out there! Absolutely! The first week I hosted an Open House at 102 Golden Bear Cv, I had 7 groups of people come through the home. 4 out of the 7 are ready to buy now, one has to sell a home in Barton Creek, one is ready in January and the other is looking for a friend who is planning to move here. I would also have to say that these buyers are shopping in the above 600K. I hosted another Open House this past Sunday and had 7 groups of people come through. What I have to say is, many are looking at most of the inventory available within their criteria before making a decision. But when a Stadler Custom Home comes their way, especially when it is priced at the current market value, sorry, but make a decision now and stop dilly dallying. Get real, buyers!!! When a home is priced right, and you love the home, make an offer now! It just doesn't make sense to have your realtor show you 20 more homes when you've already fallen in love with the one you just saw. And then what happens when that home gets an offer and you've missed your chance? And you have to settle for a home that is your second or third choice, yikes!
Enough of that, going back to the stats, Lake Travis ISD residential home sales are down 29% from last October. So far, February 2007 marks the worse at 30% of sales down. Overall, in the entire Austin MLS, sales are down 23% from last October. Still not bad compared to the rest of the nation. Buyers are still coming from areas such as Michigan, California, Minnesota, etc. Rates are still pretty good. I heard of a mortgage company who is offering 5.875% at 30 year fixed! I really have a good feeling that December will be a good month. Many want to move in before the holidays. Let's see come January when I run the stats. Stay tuned!
