John Dunham: N Central Austin

North Central Austin, or Midtown as some have begun to reference this vibrant area, experienced what I’d call a cautiously optimistic year for residential real estate. Drive down the Burnet Rd Corridor, and you’ll find an array of local shops and restaurants. Pass through the neighborhoods that make up MLS Area 2 and you’ll see active remodels and ground up building taking place. These include popular areas like Allandale, Crestview, Brentwood, and Wooten.

MLS Area 2 mainly encompasses the 78757 zip code. Neighborhoods West of MOPAC, South of 183, East of I-35 and North of 2222. With 2011 sales data complete, the Austin Board of Realtors published the following sales data from our local MLS. I fall back to Economics 101, and basic supply / demand. Most of 2011 we operated at a much lower level of inventory, and towards year’s end saw properties selling faster. Those quicker sales had been priced appropriately, stagedby a professional and their agent did more than simply place a sign in the yard.

YTD Data for MLS Area 2

Look in Crestview or Brentwood, and builders like David Weekley and Gossett Jones have been able to sell new construction homes before they were ever completed and do not factor into the numbers above. These builders have either demolished an original home that was no longer habitable, or relocated these 1950’s bungalows to another vacant lot for refurbishing. Juice Homes posted pictures of this on our Facebook Fan page, as a pier and beam home was hoisted on to a flatbed and hauled off to its new location!

Buyers continue their detailed research, but are feeling more confident about making purchases. Especially when rates are as low as they are today. Midtown offers an eclectic array of homes, each with varying levels of condition / updates. Whether selling or buying in Midtown Austin, make sure you select an agent with experience and knowledge of the area.

Real Estate Market Snapshot for N Central Austin and 78757 Zip Code

Another year behind us in the Austin Real Estate Market, and one with mixed reviews from our local publications. This year's ‘X' Factor was the end of Federal Tax credits not just for first time buyers, but existing homeowners who had lived in their primary residence for a number of years and elected to ‘move up'.

There is no doubt the April deadline enticed buyers to close on a home earlier in the year, instead of waiting till the customary busy Summer months in real estate. This front loaded many of the 2010 sales in the first 6 months, making the remaining half of the year look dismal or flat at best. We are waiting on final numbers, but it appears the difference in 2009 / 2010 YTD total # of homes sold will be a minimal.

The 2 charts below show North Central Austin has not incurred much fluctuation when looking at the bigger picture. Too often our local publications focus on a small time period, ie one month, and that can show a large decrease or increase. Keep the big picture in mind!

If you haven't noticed, there is a trend right now in housing to go green and to live more simply. That's all great in theory, but what to do when you just need more space? Perhaps the answer is a shed...yes, a shed. We're not talking about the rusty tin shed leaning against the back of your house. We're talking high style eco-friendly modern dwellings.

There are good reasons why sheds are so popular. Adding on a room to a house is really expensive and disruptive, and doesn't really let you get away. On the other hand, a shed can be stylistically different, can be installed temporarily, and can be a quick fix if you have a need for more space. Yoga, meditation, guests or work, they provide a separate and different environment.

There are several companies that have come about in recent years that offer these unique products. Depending on the company, they will help you choose the style that is right for you, deliver it, and install it. If you have the DIY bug, they all come with detailed instructions and can be assembled by yourself, or with some handy friends.

Pricing varies depending on how fancy you want to get. The basic models start somewhere around $5K and go up from there. You can trick out your shed to have electricity, heat, plumbing, kitchens...surround sound, disco dance floor...you name it!

Here in Austin we are lucky enough to have our own local shed company, Kanga Room Systems.

http://www.kangaroomsystems.com/) . They recently set up shop on Burnet Road and have several of their models on display. Additionally, in Austin, the building of a shed under 200 sq ft is considered an accessory structure and a permit or inspection is not required unless you want plumbing or electricity.

Think about it, wouldn't it be nice to have a peaceful space to get away from the hustle and bustle of your urban lifestyle, just in your own backyard? Sheds. They're where it's at.

The folks at Violet Crown Community Works have worked diligently for another great festival in Brentwood Park. A tradition which supports Friends of Brentwood Park, Brentwood and Crestview neighborhood volunteers dedicated to maintaining the park and helping continue to develop it as a community resource.

We look forward to seeing neighbors and friends!

Preliminary numbers from December round out what could be considered a fairly stable year for N Central Austin. Starting in August, the sales pace began to exceed the previous year. Could have been inspired by the tax credit being offered for 1st time buyers, whispers of interest rate hikes in the coming year, or increase in consumer confidence. My experience this holiday season proved to be busier than expected with several offers coming in on listings around town. We look forward to seeing January numbers as we try to forecast the market in 2010.

MLS Area 2 for rough measures from 2222 / Koening Ln to 183, and MOPAC to I-35. This area includes neighborhoods like Crestview, Brentwood, surrounding Allandale, Wooten Park and Skyview. Data brought to you and pulled from Austin Board of Realtors web site.