Sep
26
South & Southwest Austin: Tanglewood Forest Homes for Sale Market Snapshot 9/26/2009
Finally fall, ahh fall.
Cooler temps and the forgotten feel of wet grass on bare feet. And then the small wet puddles where the small feet traipsed through the living room. Ahhhh.
That also means there is barely time left to take advantage of the First Time Home Buyer $8000 Tax Credit. To qualify, the sale of the home must close by December 1, 2009. Given the 45-60 days a home sale can normally take, we’re at the tail end of this opportunity so don’t miss out if you are still mulling it over.
Current reports indicate slipping numbers for home sales and prices despite a reversal of that trend the few months prior in the other direction. Don’t despair, as economic soothsayers foretell a strengthening Texas as well as Austin economic environment.
More jobs and population growth fueling demand for housing even as builders ramp down new construction curbing the supply of new homes on the market. Rising prices are soon to follow. Perhaps.
If you are shopping for more unique properties, with acreage or waterfront for example, beware the new lending rules and regs. Stringent new appraisal and underwriting policies have resulted in sales falling apart.
Sometimes because the appraisal comes in ridiculously low due to simple dearth of recent comparable sales, sometimes even though the appraisal comes in above the sales price, the underwriter gets cold feet and kills the sale the day of closing.
It’s painful if you are the seller and you are forced to reduce your sales price or lose the deal. It’s painful for the buyer who has to find other financing options at the last moment or try to come up with lots more cash for down payment from an already empty piggy-bank.
With six or so homes selling per month, and nine currently available and not under contract, that leaves us with a month or two of home inventory. Recent sales are coming in close to the list price.
Under $250,000 in Austin is still movin’ movin’. But not movin’ movin’ movin, if you get my drift. If you are ready to sell your home in Tanglewood Forest, it’s the perfect time to get moving.
Through the near-end September 2009, the neighborhood numbers look like this in Tanglewood Forest…
9 homes for sale
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Median asking price = $174,900
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Median square footage = 1511
8 homes currently under contract
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Median asking price = $175,000
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Median square footage = 1585
Homes SOLD in August-September
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7 homes sold
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Median sales price = $165,000
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Median square footage = 1400
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Average days on market = 36.86
If you would like to see any one or more of them up close and in person, call or email me and I’ll be happy to set up an appointment when it’s convenient for you to view the home or homes that really catch your eye.
If you are ready to get your home on the market, call or email me right now.
Posted by Tim Tole, your Southwest Austin Realtor®,Keller Williams Realtors in Austin, Texas, and specializing in residential and investment properties in south and southwest Austin. Email Tim at trusttim@kw.com, or call for a free evaluation of your home’s value in today’s market. 512-297-8534.
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