Market Conditions in 78738>Question Details

Aaron Heth, Both Buyer and Seller in Austin, TX

Lakeway Texas specailists HELP!

Asked by Aaron Heth, Austin, TX Tue Aug 5, 2008

I'm needing to know what the trends are like in The Hills Lakeway, how fast are homes moving? Price points, ext.? Any help is appriciated.

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BEST ANSWER
Good Morning Aaron,

The Hills of Lakeway has and will always be slower than other areas. The first and most obvious reason is because it is a gated community with a 24 guard at gate and they do not let potential buyers come in and drive around to look at homes. Then there are the sign limitations where it is not real obvious your home is for sale. And last the price point. Since The Hills is in an area where the homes are a more than let’s say south Austin the number of individuals who can afford these homes goes down. In other words there are a lot more buyers who can afford a $200,000 in comparison to those who can afford a $500,000 home. On another note this area is very appealing to many individuals and home buyers. Below is a link and it will answer your question about the trend and days on market. Please note there are two pages with details and these details include all sales and all price points for the Hills. If you would like to send me more criteria I.E. the price range, # of beds/baths, SqFt and so on, I would be glad to compose another more accurate report and send it your way. In the meantime please check out this link as well as my website and give me a call if you have any questions or would like another report.
http://actris.mlxchange.com/Pub/EmailView.asp?r=280766530&am…
Regards,
Harmony Marotz
(512) 775-1164
harmonymarotz@sbcglobal.net
http://www.the-hills-texas-real-estate.com/
0 votes Thank Flag Link Wed Aug 6, 2008
Dear Aaron,
The Hills is a lovely neighborhood where people walk their dogs down the street and children are allways seen riding bikes and playing in the front yards. The homes here are very comfortable and often luxurious. Sometimes they remain on the market a little longer because it is harder for home buyers to get into the neighborhood and drive around to look at properties. This problem is easily solved by using a Realtor. One of our Keller Williams Realty offices is just across the street on Lohman's Crossing. So it is easy for us to show you any of these homes.
Sincerely,
Betina
0 votes Thank Flag Link Thu Apr 22, 2010
Aaron, The Hills is moving slowly, at this time. Our office is across Lohmans Crossing from The Hills, so we have a lot of buyers and sellers for that area. The seller who is highly motivated and understands that the price will be quite different from even a year ago. That boils down to people who NEED to sell. Those who want to sell are often not realistic because they don't have to be. When the price is right, the next step is the condition. Pre-inspections are good. You avoid another negotiation, after the contract is executed.
According to MLS statistics, there are 41 houses for sale, average list price is $440,000, average price per s/f is $$134 and days on market is 137.
Over past 90 days, there have been 6 sales and there are currently 4 pending. Median price is $452,500, $122s/f, 117days. As you see, the supply and demand is in the favor of the buyers. They have been getting approximately 95% of the final list price.
If you want to sell, price aggresively; don't slowly lower the price. If you want to buy, find out how long house has been on the market and why it is for sale. Hope this helps. S
0 votes Thank Flag Link Tue Oct 13, 2009
The key in todays market is Buyer percived value. If you can show them that it is a good deal and that it will hold its value you can close the deal. This may be a challenge if nothing in the neighborhood is moving. Perhaps if you held an open house and got the gaurd to allow visitors in for a short period to view the home it might help. They can't buy it if they can't see it. Just my .02! Good luck!
Betina
0 votes Thank Flag Link Mon Oct 5, 2009
Aaron,

I took a drive through The Hills yesterday and saw many of the special "for sale" signs. Needless to say, there are many homes on the market. I agree with Betina, that the gate poses a problem for people who just want to drive through, but in working with a Realtor and having a home on MLS, it shouldn't be an issue. It comes down to price, value and ammenities.

My parents live on the 4th Fairway. The Hills has always been an "escape" for me, in that I find it peaceful, tranquil, and inviting with friendly people where ever you go. Someone selling would be able to market it as such - but I believe price is the number one factor in how fast a home moves.

Hope that helps and best wishes!
Stacey Hurley, Realtor
Mitzkat & Associates Real Estate
stacey@mitzkatrealty.com
512-423-8122
0 votes Thank Flag Link Wed Aug 13, 2008
Aaron,

I work out of the Lakeway Market Center with Keller Williams. I would love to talk with you about market stats for the Lakeway and Hills area. Please feel free to email me or call me. ejmckinney@austin.rr.com or 512-587-7736, and feel free to check out my website in advance as well... http://www.ejmckinney.net.
Web Reference: http://www.ejmckinney.net
0 votes Thank Flag Link Mon Aug 11, 2008
Dear Aaron,
I have to agree, these homes are not moving very quickly. I think its a combination of the price point and the market. Lakeway has some pretty strict rules on your for sale signs, and the required sign is tiny compared to normal signs. So this makes it a challenge to find the homes that you know are for sale. Also these homes simply cost far more than your average person wants to spend. That said you are not really looking for the average buyer. Remember all you need is ONE Buyer to sell this house. Hang in there & Good luck!
Betina
0 votes Thank Flag Link Wed Aug 6, 2008
Slow slow slow...Even $700,000 homes on the waterfront have a hard time renting for $2500/mth
0 votes Thank Flag Link Tue Aug 5, 2008
Aaron,

Feel free to go to my WEB site for answers to most of your questions. Click onto the following tabs Market Snapshot, Free Home Search, Community Info and Useful Links. If you have additional questions or need more detail information, please feel free to contact me. My contact information is available on my home page of the WEB site.
0 votes Thank Flag Link Tue Aug 5, 2008
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