It’s been a busy week at Mueller Austin – the resale market is somewhat ferocious right now.
Critics of the neighborhood say that it has no mature trees and little shade. As a transplant from England I certainly feel the heat during the current 100 °F days. All the way to the pool where I sit in the shade and enjoy myself, and think about the approximately 100 homes that will have solar PV on their rooftops by the end of this year in a development of less than 750 homes.
So with that little “talking about the weather” pre-amble that is common in my homeland, let’s look at movers and shakers in the market.
The resale market is booming, which makes it a tough time to be a buyer. Residents are seeing large increases in their TCAD Valuations (which typically have little grounding in reality) and some are having difficulty in protesting the jump in values.
At the same time, sellers are beginning to appreciate that the homes that they’ve been living in for the last two or three years have also appreciated, and list prices are reflecting that. Will the bubble burst? It’s hard to tell though I know a few home prices that are yet to be seen on the market, and the sellers clearly don’t think so.
In any market, the best way to price is ahead of the market. In a declining market, price where the market is headed – below the most recent sales. In an up market, price above the most recent sales. The latter is what we’re seeing right now.
In 2010 we saw around two resale homes per month hit the market. In the last week we’ve seen three, and there are more to come.
There’s a Meritage 1902 plan, a Standard Pacific Carothers, and tomorrow we’ll see a David Weekley Antone plan hit the market. I can think of two homes in the last two months that have sold without being listed on the MLS.
To see pricing and check on current status of current Mueller homes for sale, check out my search site.
Garreth Wilcock is a Realtor who loves the air-conditioning, pool and rooftop solar PV in Mueller Austin. 512 215 4785