Austin Real Estate Update & Newsletter | March 2016
 

 

Greetings!

 

I hope this newsletter finds you well.

 

This edition includes my latest Featured Listing, market updates about both BartonPlace and Spring Condominium, as well as Austin news and events - enjoy!

 

Featured Listing
Unique UT-area Condo - 901 W. 22nd St. #201 - just 4 blocks to campus.
1 Bedroom, 1 Bath, 536 SF - $159,900 | View Virtual Tour
Incredible opportunity to own a unique condo in the heart of UT campus! Second floor end-unit with private staircase entry and welcoming deck area out front. Open-concept floor plan lives large - light and bright with vaulted ceilings throughout. Wood laminate flooring in living and bedroom, saltillo tile in kitchen & bath, cozy fireplace. Spacious bedroom with large walk-in closet. Stackable Washer/Dryer tucked conveniently inside bathroom closet. Great location, just 4 blocks to UT, The Drag and lots of local shops and eateries - West Campus Grocery Market just across the street! Perfect for students or young professionals. Includes one reserved parking space.



Please contact me for more information or to schedule your personal tour!
Let's talk soon,
 
Audra W. Smith
REALTOR,  CNE
C: 512.247.8788
*12-year Veteran of Austin Real Estate* 

BartonPlace Market Update

 

  

 

Live the best of both worlds at BartonPlace - see below for current availability:

 

Featured Lease Listings:

- Unit 2106 - 743 SF - $2,200/month - Fully Furnished - VIRTUAL TOUR

 

 

Current For Sale Listings:

Two Bedrooms:

- Unit 1105 - 1,133 SF - $470,000

- Unit 4302 - 1,019 SF - $489,000

 

View BartonPlace Amenities Virtual Tour

 

For more information, or to schedule a personal tour, please contact:

 

Audra Smith, REALTOR, CNE

(512) 247-8788

[email protected]

 

Spring Market Update

 

 

 

Live in the middle of it all, above it all - see below for current availability at Spring: 

 

One Bedroom:

- Unit 802 - 565 SF - $333,900

- Unit 1404 - 704 SF - $415,000

- Unit 3106 - 698 SF - $448,000

 

Two Bedrooms:

- Unit 2105 - 1,061 - $725,000

 

42nd Floor Penthouse:

 - Unit 4201 - 4,279 SF - $3,200,000 - Watch the Video!

 

View Spring Amenities Video

 

For more information, or to schedule a personal tour, please contact:

 

Audra Smith, REALTOR, CNE

(512) 247-8788

[email protected]

 

ABOR Market Update - Austin-area home sales dip, community leaders tackle affordability issues
 From: www.abor.com


AUSTIN, Texas - Feb. 22, 2016 - According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, Austin-area single-family home sales dropped slightly in January 2016 compared to the same month the year prior. Home sales decreased by 1.9 percent year-over-year to 1,459 home sales and median price increased 6.3 percent year-over-year, reaching $254,999 in January 2016.

Aaron Farmer, 2016 President of the Austin Board of REALTORS­®, explained, "If we're going to successfully address our city's continued affordability issues, we all need to work together. We're excited that several business owners and community leaders are stepping up and bringing new, tangible solutions to the table to help alleviate some of the challenges."

Developers such as President of Momark Development Terry Mitchell are working to provide more affordable solutions through projects that provide workforce housing or subsidized housing for families who make 80 percent or less of median family income.
"We all know someone - our children, parents, our children's teachers and friends - who are affected by the affordability issues in Austin," said Mitchell. "The lack of affordability is affecting transportation, economic development and literally the future of our city. There are solutions, but they require a clear vision and a willingness to change."

Executive Director of HousingWorks Austin Mandy De Mayo plays a large role in ensuring diversified housing is developed in Austin. In 2016, HousingWorks will focus on research, advocacy and education through initiatives involving research on the impact of stable, affordable housing on families' health outcomes, an annual district-by-district analysis of affordable housing, support of CodeNEXT and other key projects.

"Rewriting the land development code is incredibly important to overall market affordability and will ensure that Austin can serve a wide range of households with homes marketed at a variety of price points," said De Mayo. "We haven't had a new code since the 1980s and if we can get it right this time, the end result will be a variety of housing options for all income levels."

Austin-area monthly housing inventory was 2.0 months in January 2016, an increase of 0.1 months from January 2015. This figure is still well below the 6.5 month level the Real Estate Center at Texas A&M University estimates as a balanced housing market. Homes spent 56 days on market in January 2016.

"Inventory has fallen below three months for three years and while we've seen this affect home prices for months, it's possible that we're now seeing it affect home sales," added Farmer.

New listings increased by 8.0 percent to 2,399 listings in January 2016 and active listings increased by 11.4 percent year-over-year reaching 4,751 listings. Additionally, pending sales increased by 16.6 percent at 2,207 sales.

Farmer concluded, "We know this climate is confusing for anyone living in Austin and we're equipping our members to help homeowners navigate this competitive market through programs like our upcoming Member Forum. We're bringing in development experts like Terry Mitchell, lending advisers and legislative advocates who are helping to shape the affordability landscape in Central Texas."

January 2016 Statistics
  • 1,459 - Single-family homes sold, 1.9 percent less than January 2015.
  • $254,999 - Median price for single-family homes, 6.3 percent more than January 2015.
  • $322,620 - Average price for single-family homes, 3.8 percent more than January 2015.
  • 56 - Average number of days single-family homes spent on the market, seven days less than January 2015.
  • 2,399 - New single-family home listings on the market, 8.0 percent more than January 2015.
  • 4,751 - Active single-family home listings on the market, 11.4 percent more than January 2015.
  • 2,207 - Pending sales for single-family homes, 16.6 percent more than January 2015.
  • 2.0 - Months of inventory* of single-family homes, 0.1 months more than January 2015.
  • $470,702,965 - Total dollar volume of single-family properties sold, 1.9 percent more than January 2015.
ABC Kite Festival in Zilker Park - March 6
 From: www.abckitefestival.com


Zilker Kite Festival is one of Austin's best-known annual events. Held on the first Sunday of March, it is the kick-off to the hundreds of springtime activities in Austin.
Everyone is welcome to attend (pets too!).  There is no admission to attend or to participate in the contest. Most folks come out to see the spectacular sight of hundreds of kites in the sky and to enjoy a spring day in the park.
History
The 'Kite Tournament' was created by The Exchange Club of Austin in 1929 with a mission to encourage creativity in children. Exchange Club President Ed St. John came up with the idea to give kids a constructive activity the community could participate in. The first Tournament was held in Lamar Park, which is thought to have been close to the intersection of Congress Avenue and 1st street.
In 1936, the Exchange Club partnered with the City of Austin Parks and Recreation Department to bring the event to newly opened Zilker Park. In 1956 the Kite Tournament was opened to competitors of all ages, and to this day contest events have changed very little. It is the longest continuously running kite festival in the United States and is sponsored by the Exchange Club and the City of Austin Parks and Recreation Department every year.
 
SXSW Austin 2016 - March 11-20
 From: www.sxsw.com

SXSW HISTORY
In 1986, Ronald Reagan was president. Email was called electronic mail and was used primarily by universities and the military. The Berlin Wall was standing. The Euro did not exist. Many phones used dials to enter numbers. An Apple Macintosh computer with 128 kilobytes of RAM sold for $5,500 (in 2015 dollars). 40 million music CDs were made and sold worldwide.

That same year, a small group of people in Austin, Texas began a series of long discussions about the future of entertainment and media. The meetings were in the offices of The Austin Chronicle, and participants were sworn to secrecy. A fundamental opinion shared by the group was that the local creative and music communities were as talented as anywhere else on the planet, but were severely limited by a lack of exposure outside of Austin.

Music was the uniting factor, but the group had a catholic taste for art and ideas. Inclusiveness and reaching for new things were core values. The solution being discussed was an event that would bring the outside world to Austin for a close-up view.

As the key ideas were formed, recognition grew that Austin was not the only city where this was an issue. For a local event to bring the world to Austin, it needed to have value everywhere. A name was sought that was not restrictive in its concept.

Finally, in October of 1986, the announcement of the first South By Southwest was made. The SXSW group expected initial resistance from the locals, but it was quite the opposite. Almost everyone wanted to be involved. Resistance would come later.

The first event, held in March of 1987, saw an expected 150 registrants swell to 700 on the opening day. As hoped for, Austin's charm won over the visitors, and SXSW took on a life of its own.

Growth was steady for the first seven years. For SXSW '94, often remembered for the Johnny Cash keynote/performance, two new events - Interactive and Film - were introduced. It would mark a fundamental shift in how the world viewed SXSW. Still early in the paradigm shift created by the internet, the film and digital communities found a home in SXSW.

The event has changed in many surprising and meaningful ways since 1987, but at its core, SXSW remains a tool for creative people to develop their careers by bringing together people from around the globe to meet, learn and share ideas. (And maybe have a few once-in-a-lifetime experiences.)    - Roland Swenson, SXSW Managing Director
 
Local Food + Drink News
From www.wuchowaustin.com

Now Open - Wu Chow on 5th Street
 
Wu Chow brings authentic, fresh, modern Chinese food to the heart of downtown Austin. Before even opening, Wu Chow has been listed as one of Zagat's Most Anticipated Restaurants of 2015 in the country and has been the center of much local fanfare. 
Wu Chow offers dishes representative of all eight styles of Chinese cuisine as well as dim sum service on Saturdays and Sundays. Techniques are traditional and many of the dishes are classic with regional influences sourced from local purveyors and farmers. Both chefs were born, raised and trained in China and incorporate their experience into the menu. Favorites such as Shanghai Soup Dumplings, Salt & Pepper Squid, Yu Xiang Eggplant and Mapo Tofu all have a place on the menu in addition to seasonal specials. 
The space is clean, modern and sophisticated. Asian influences are subtle, unique and specifically tailored to a worldly palate. Diners can expect a fresh approach to Chinese food and design, Located at 500 West 5th Street in the bottom of IBC Bank Building.
 
I look forward to staying in close contact with you.  Please remember to visit my website
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Sincerely,