Updates Friday January 27, 2023

Takeaways from Economic Forecast

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Takeaways from Economic Forecast

I had the opportunity to attend a 2023 Economic Forecast by 360 Real Estate Analytics on Thursday. I thought it would be helpful to summarize some of the highlights:

New home builder traffic and sales increased in early January.
A number of buyers feel that they have “found the bottom” on pricing.
Builders have better control of pricing now that supply chain issues have stabilized; construction costs are coming down. That allows builders to return to the “to be built” sales model.
Austin’s relocation buyers will be fewer than in the past two years.
Price reductions are driving buyers back into the market.
Spring will tell us a lot about the rest of 2023.

Generally speaking, it appears that buyers are slowly entering the market. Lower prices are offsetting higher interest rates and buyers who have had their lives on hold are feeling confident enough to jump back in. It’s likely that this year will be marked by cautious optimism. We’ll see sales, just at a slower pace.

If you want to know more about the Economic Forecast or have questions about navigating today’s market, call Courtney 512-809-5495

1609 Hartford Road

UNDER CONTRACT

3 BD | 3.5 BA | 2,381 SF | $1,395,000

Rare, move-in ready 3/3.5 in 78703 with 2 car garage (including Tesla charger). Lives like a single-family home (Townhome style, corner unit in small 4-unit complex) with very solid construction. Flexible floor plan w/an elevator will appeal to many buyers.

Buyer Representation: Courtney Oldham, Compass RE

1609 Hartford Road

3408 Stratford Hills Lane

5 BD | 5 FB | 3 HB | 1.23 AC | $5,495,000

Stunning sophistication in Stratford Mountain. This private estate is perfectly positioned on a generous 1.235-acre lot with views of Lake Austin from the spacious second floor balcony. Amazing attention to every detail – exquisite trim work, elegant iron details and resort-like outdoor spaces.

Award-winning Eanes School district just minutes from downtown and Zilker Park.

OPEN HOUSE SUNDAY, JANUARY 22 1-3 PM

Listed by: Courtney Oldham, Compass RE

3408 Stratford Hills

Rim Rock View

UNDER CONTRACT

12.96 AC | Unrestricted | ETJ | $2,300,000

Incredible gentleman’s ranch in a private hill country setting. Mature trees, flat building areas, and gorgeous sunsets! Move into the cute guest house while you design and build your dream home! Bring your own builder. No timeframe to start construction.

Fabulous location just 20 minutes to downtown Austin and near popular Fitzhugh Road attractions like Treaty Oak and Jester King. Convenient to Belterra Village.

Listed by: Courtney Oldham, Compass RE

Rim Rock View

2005 Tower Drive

.259 AC LOT | TARRYTOWN | $1,450,00

This is an incredible building opportunity in one of the most desirable neighborhoods in Austin, Tarrytown. It’s located on a walkable street across from Tarrytown Neighborhood Park with convenient access to Mopac. It’s all of lot 53 (.1778 acres) and half of lot 54 (.0814) for a combined .2592 acres. The current duplex structure has an A & B unit to provide rental income while building permitting is in process.

Listed by: Courtney Oldham, Compass RE

2005 Tower Drive

1708 Aborside Drive

UNDER CONTRACT

3 BD | 2 BA | 1708 SF | $415,000

Lovely updates throughout this 2-story home in the desirable Pioneer Hill community. New interior paint, fresh carpet, updated half bath, and new fixtures.

Listed by: Courtney Oldham, Compass RE

1708 Aborside Drive

2800 Joe DiMaggio Blvd

3 BD | 2 BA | 1820 SF | $435,000

*$5,000 Seller Credit with a full price offer! * 1% PREFERRED LENDER CREDIT * Stunning farmhouse in the heart of Round Rock and nestled in a pocket neighborhood close to Old Settlers Park, Dell Diamond, Kalahari, toll roads and more! This gorgeous home feels like a page out of Magnolia Journal with luxurious designer touches.

Listed by: Courtney Oldham, Compass RE

2800 Joe DiMaggio Blvd

LUXURY HOME TRENDS

When it comes to luxury home trends, 2023 is about balance. The past two years have been rife with uncertainty, and luxury buyers are in search of an oasis to escape and unwind. There is a direct relationship between home, health and happiness. These are the luxury home trends which prioritize well-being and harmony. MORE

YOU DEFINITELY NEED A CASITA!

Casita, guest house, ADU, studio, granny flat…the need for extra, detached space is real! I’ve seen them used as guest quarters, short term rentals, offices, gyms, meditation rooms, music studios and more! Looking for a property that has one or a lot where you can build your dream home and casita? Maybe your just curious if you can add one to your existing property?

FEELING LUCKY??

A new bar and lounge, Lucky’s, is moving into 1050 East 11th Street. According to Austin Eater, “Lucky’s will serve small plates with a focus on what they describe as Mexican fusion fare. The menu includes casual dishes like a quesadilla with kimchi, a soba noodle bowl, and sweet chili wings. It will eventually add brunch.” FULL ARTICLE

HEADED to LOUISVILLE?

Bunkhouse has done it again! This time in Louisville. Hotel Genevieve is inspired by a city that is much more layered than bourbon and horses. The new hotel is designed to reflect the nuances that make Louisville a destination for all. BOOK NOW for stays starting in May. Use code INSIDETRACK and enjoy up to 30% off your stay. Blackout dates apply.

INVISIBLE SOLAR

According to Fast Company, there’s a new way to do solar…it just looks old. “In a small workshop near Vicenza, Italy, artisans make traditional-looking roofing tiles with a hidden difference: Each module contains solar photovoltaic cells. The family-owned company that makes the tiles, Dyaqua, started developing its “Invisible Solar” more than a decade ago.” MORE

The Oldham Group ❤️’s Austin and is committed to giving back to our community. Each month we’ll partner with a local business to increase their exposure and to bring YOU SPECIAL DISCOUNTS! 💰

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AUSTIN AREA MARKET STATS: For those who love a good spreadsheet, here are the latest Austin market stat. Austin Board of Realtors MONTHLY STATISTICS

BUYER GUIDE: Find the right place at the right price isn’t an easy task! We can help you through the process. BUYER GUIDE

SELLER GUIDE: How do you make sure you get the most money for your home? From pricing to marketing, we’ll customize a plan to ensure you get the most money for your home. SELLER GUIDE

MORTGAGE: We have trusted mortgage relationships to help you on your home buying journey. Please reach out to Courtney for the best fit for your needs.

PROPERTY TAX PROTEST: Use a trusted professional, Home Tax Shield to protest your taxes. HERE

CONTRACTORS: Courtney has a list of professionals from electricians and plumbers to pool companies and landscape firms. Let us make a connection! Curated by Courtney

Courtney Oldham

The information contained herein does not purport to be complete nor, necessarily, accurate and should be independently verified; nor does it represent or constitute a legal analysis or financial advice. All of the financial projections and/or conclusions are provided for illustration purposes only. Compass and its agents disclaim any and all liability for representations and warranties, express or implied, contained in, or for omissions from, the information contained herein or any other written or oral communication transmitted or made available to the recipient. This represents an estimated sale price for this property. It is not the same as an opinion of value in an appraisal developed by a licensed appraiser under the Uniform Standards of Professional Appraisal Practice.