citiCite
FORUMS PHOTOS GROUPS EVENTS WIKI
CREATE ACCOUNT | LOGIN
Mueller Community (change)
Forums
You are NOT logged in.
RSS

Weekly selling homes on Open Mkt - High Prices
All of the following posts have been contributed by citiCite members.
Viewing 1 to 10 of 29 posts ( 1 2 3 Next Last )
Page Header Image
Forum Navigation

Recent Forum Posts

Upcoming Events
Sorry, but there are no upcoming events.

No Image Available
mam469
Mueller Community

Posts: 41
Joined on August 30th, 2007
Weekly selling homes on Open Mkt - High Prices
by mam469 on October 20th, 2007

There are at least 2 homes Weekly has listed through an agent to try and sell. They are on Comacho. In my opinion they are selling them unnecessarily at a premium price and that is why they are not sold out like most of the other builders.
 
User Profile Image
Kevin Ludlow
Mueller Community

Posts: 582
Joined on August 19th, 2007
untitled topic
by Kevin Ludlow on October 20th, 2007

Can you post a link to these somewhere online?
 
User Profile Image
Kevin Ludlow
Mueller Community

Posts: 582
Joined on August 19th, 2007
untitled topic
by Kevin Ludlow on October 20th, 2007

...nevermind - they were pretty easy to find.

So looks like DW has officially taken to the streets:

http://austinhomesearch.com/Search/Details.aspx?li=448741&or=1&cp=1 http://austinhomesearch.com/Search/Details.aspx?li=448741&or=1&cp=1

http://austinhomesearch.com/Search/Details.aspx?li=448536&or=1&cp=1 http://austinhomesearch.com/Search/Details.aspx?li=448536&or=1&cp=1

4108 and 4100 Camacho, listed at $319,704 and $342,942, sizes of 2,221 and 1,801 respectively. For anyone without a calculator nearby, that's $177.51 and $154.40 per square foot.

They both have the following description:
Quote:
New Construction in Central Austin. Three Star Green Building, Selling Fast. Don t miss out on the still low Introductory Pricing. Call office for appointment. Est. Completion is February


I'd be curious to see how long it takes these two to sell. My guess it not too long, but who knows. On the other hand, I don't think they're going to have the convenient fortune of immediately selling off an entire community of $350,000, 2,000 sqft homes on 39ft wide lots. ...just my opinion.
 
User Profile Image
icemonkeyharvest
Mueller Community

Posts: 334
Joined on August 19th, 2007
untitled topic
by icemonkeyharvest on October 20th, 2007

Wow!! We passed up that Willie (the first link) at roughly $305,000 because we disliked the lot. It directly faces an alley, so you'd look out your front door at giant Do Not Enter signs and have headlights shining in your bedroom windows at night.

What I'm confused about is the fact that there's a sold sign in front of the house. I would wonder if it was someone trying to flip the house, if not for the fact that the listing agent is with David Weekley. This is all quite strange.
 
No Image Available
jill
Mueller Community

Posts: 100
Joined on September 25th, 2007
untitled topic
by jill on October 21st, 2007

Here are some Standard Pacifics listed:

2008 Tom Miller
Austin 78723
$500,500
MLS #: 3671974
Standard Pacific Blanton Floorplan

2004 Tom Miller
Austin 78723
$500,660
MLS #: 1881779
Standard Pacific Roberts Floorpaln,

Subdivision: Mueller
 
No Image Available
austinel
Mueller Community

Posts: 58
Joined on September 1st, 2007
untitled topic
by austinel on October 21st, 2007

I'm still so confused about what basis people are using to determine what is expensive.

Homes only blocks to the south of Mueller (in the neighborhood around Maplewood Elementary) are about $320 a square foot. In Crestview, the nearest affordable neighborhood north, homes are $293 a square foot. In both those neighborhoods, you're talking about paying those prices for two-bedroom cottages, and having to spend $150K to add a second floor, if you've got a family. No other "central" neighborhoods I know of have better prices.

Mueller is not expensive. It may seem like a lot of money compared to what you could buy in Austin ten years ago, but for today's market, it's UNDERpriced.

I realize that's cold comfort to people who can't buy in Mueller. In fact, it sucks. But there are a lot of places I want to live that I can't, because of rising prices. I can never move back to my hometown in California, for example -- the three bedroom ranch I grew up in is now priced at (is it even possible?) $1.3 million.

One of the reasons that we're moving back to Austin is that in our fairly run-down, working-class neighborhood here in CT, a 2000 square foot home starts at $750K. And believe me, this isn't really a neighborhood you'd want to settle into. Sure, we could find a really cute house for $750K, that size, but in a much nice environment, another 15 miles north, but then my husband's train commute would be an hour and fifteen minutes each way -- not too great.

And believe me, salaries here are *not* commensurate with cost of living. Not just housing -- EVERYTHING costs double (outside of food and gas, which I think are only about a 25% hike).

It sucks -- all over the country, housing prices have continued to rise but salaries are just inching along. But no one is being "unfair", it's just the market.
 
No Image Available
Mr.Me
Mueller Community

Posts: 47
Joined on August 18th, 2007
untitled topic
by Mr.Me on October 21st, 2007

austinel Wrote:
I'm still so confused about what basis people are using to determine what is expensive.

Homes only blocks to the south of Mueller (in the neighborhood around Maplewood Elementary) are about $320 a square foot. In Crestview, the nearest affordable neighborhood north, homes are $293 a square foot. In both those neighborhoods, you're talking about paying those prices for two-bedroom cottages, and having to spend $150K to add a second floor, if you've got a family. No other "central" neighborhoods I know of have better prices.

Mueller is not expensive. It may seem like a lot of money compared to what you could buy in Austin ten years ago, but for today's market, it's UNDERpriced.

I realize that's cold comfort to people who can't buy in Mueller. In fact, it sucks. But there are a lot of places I want to live that I can't, because of rising prices. I can never move back to my hometown in California, for example -- the three bedroom ranch I grew up in is now priced at (is it even possible?) $1.3 million.

One of the reasons that we're moving back to Austin is that in our fairly run-down, working-class neighborhood here in CT, a 2000 square foot home starts at $750K. And believe me, this isn't really a neighborhood you'd want to settle into. Sure, we could find a really cute house for $750K, that size, but in a much nice environment, another 15 miles north, but then my husband's train commute would be an hour and fifteen minutes each way -- not too great.

And believe me, salaries here are *not* commensurate with cost of living. Not just housing -- EVERYTHING costs double (outside of food and gas, which I think are only about a 25% hike).

It sucks -- all over the country, housing prices have continued to rise but salaries are just inching along. But no one is being "unfair", it's just the market.



DING DING DING!

Exactly! These homes are a bargain and thats the general feeling in the real estate community. Show me another new house with all the amenities of Mueller three miles from downtown that you can buy for $300,000. Downtown condos at the 360 Tower sold for nearly $400/sqf. The Austonian and W start at over $500/sqft. Older smaller houses with no amenities all over central Austin sell for much more a sqft. Mueller is a GREAT buy.
 
User Profile Image
mrs aaron
Mueller Community

Posts: 767
Joined on August 31st, 2007
however...
by mrs aaron on October 21st, 2007

i agree that we are lucky to be in central austin in a brand new home for what we are paying. i think the problem is that Cattelus made us all think that there would be a full range of opportunities for all income levels - from affordable to expensive. whether or not that dream turns into reality remains to be seen. but i have hopes that the market will have an influence and maybe even Cattelus can figure something out. it really is a vital piece of making the community successful.
 
No Image Available
ccosart
Mueller Community

Posts: 213
Joined on August 30th, 2007
untitled topic
by ccosart on October 21st, 2007

austinel Wrote:
I'm still so confused about what basis people are using to determine what is expensive.

Homes only blocks to the south of Mueller (in the neighborhood around Maplewood Elementary) are about $320 a square foot. In Crestview, the nearest affordable neighborhood north, homes are $293 a square foot. In both those neighborhoods, you're talking about paying those prices for two-bedroom cottages, and having to spend $150K to add a second floor, if you've got a family. No other "central" neighborhoods I know of have better prices.

Mueller is not expensive. It may seem like a lot of money compared to what you could buy in Austin ten years ago, but for today's market, it's UNDERpriced.

I realize that's cold comfort to people who can't buy in Mueller. In fact, it sucks. But there are a lot of places I want to live that I can't, because of rising prices. I can never move back to my hometown in California, for example -- the three bedroom ranch I grew up in is now priced at (is it even possible?) $1.3 million.

One of the reasons that we're moving back to Austin is that in our fairly run-down, working-class neighborhood here in CT, a 2000 square foot home starts at $750K. And believe me, this isn't really a neighborhood you'd want to settle into. Sure, we could find a really cute house for $750K, that size, but in a much nice environment, another 15 miles north, but then my husband's train commute would be an hour and fifteen minutes each way -- not too great.

And believe me, salaries here are *not* commensurate with cost of living. Not just housing -- EVERYTHING costs double (outside of food and gas, which I think are only about a 25% hike).

It sucks -- all over the country, housing prices have continued to rise but salaries are just inching along. But no one is being "unfair", it's just the market.


When something is unaffordable to 80-90% of a community, that's expensive. Period. I know plenty of families, including my own, who live in Crestview sized houses without - egads! - adding a second floor, btw.

And when people were told they would have a place at Mueller for years, that's unfair. When people who have been part of this community for years are forced to leave just because "the market" says so, that's unfair. When PUBLIC LAND is used to build another community that excludes the middle class, that's unfair.
 
No Image Available
austinel
Mueller Community

Posts: 58
Joined on September 1st, 2007
untitled topic
by austinel on October 22nd, 2007

You're right. Catellus shouldn't have promised something like that. Period.

There is no "fair" or "not fair" in the market. It is not orchestrated by one or even one hundred people. You're suggesting that people take less for the land/homes than they could get, because they don't reasonably need to get so much for their original investment -- that may be true, but it's not human nature. It's not reality. Heck, there are people participating in the affordable homes program who are upset that they will lose 25% of the PROFIT (to the foundation who got them in their homes in the first place! So it will help other families get into homes!) they might gain on their home, when sold (I know, it's the "in perpetuity" part that rankles the most, and I sort of agree there should be a cap, but the future cost of the foundation helping another family will go up over time, too, at the same rate as market appreciation ...).

I know it seems that 80-90% of the population can't afford to live in central Austin. Yet there are people to buy there -- in spades. There is no glut of inventory, waiting for buyers. The reason the prices are as they are, is because there are buyers willing to pay the prices.

I am saying, I know the feeling, because I really really REALLY want to live in my home state. I will NEVER be able to do that. It feels unfair. But I don't think that anyone can fix the situation. I don't know, maybe the government should cap gains on homestead real estate at 100% (I'm serious). If someone paid $200K for a home in Palo Alto, CA in 1986, maybe they should not be allowed to profit more than $200K for it. I was just watching a show where two guys bought a two-bedroom house somewhere in CA for less than $300K nine years ago, and it is now worth $1.8M. It's absurd. Yes, there seem to be lots of buyers for those homes (from where?! Mars? What do these people DO for a living?!?), but it's over the top.

I think that law (using adjustments for a homeowner's financial input on a home -- I'm only talking about the appreciation that comes only from time) would be perfectly fair, because I think that real estate profit is pure windfall, not earned, not deserved, and it irritates me that people think they are "owed" a huge profit on homestead real estate, these days. But you know and I know it's never going to happen. See: human nature, above.

Along those lines yes, I do worry that people are treating homes like investments. I think that kind of thinking is driving the market ever upward. And it sucks.

Supposedly, because homes across the nation have "stalled out" at only 3.9% price growth per year, recently, we are in a massive decline. (Why *should* home appreciation be higher than the rate of inflation?). In an effort to keep from being bogged down with millions of dollars worth of unpurchased homes and land, many new builders across the country are slashing home prices in their new developments. Radically -- like, from $350K to $270K. And it's working -- the homes are selling at an even rate again. Only it totally screws the people in the initial phases of those developments, who bought at "full price". Do you have any idea how long it will take for them to see a twenty-three percent gain -- enough to break even? Oh, add in another six percent and whatever else they spent on maintenance and improvement. Those people can't sell, they can't get equity loans. If something happens and they HAVE to sell, they're downright fugged.

Does that sound "fair"?

But it would be a good idea for Mueller to monkey with the market and offer homes at below market, effectively marooning people in surrounding neighborhoods, and quite possibly a lot of people within Mueller, maybe driving them to financial ruin? You think I'm being overdramatic. I'm really not. If Buyer X purchases a Standard Pacific, Moore-Hill home for $350K right now (oh wait -- add the obligatory $10K+ for upgrades), and then Stan Pac starts offering them at $300 (for a "market" home) because people are crying that they can't afford to live in Central Austin and Catellus owes them this opportunity, Buyer X is SCREWED. And while maybe a little part of you thinks that's great, since after all Buyer X is evil for being able to afford a $350K house, it seems pretty damn crappy to Buyer X.

Analysts are saying that policies like purposely underpricing will be helpful to stabilizing the market long-term, because it will drive prices down (instead of the market merely leveling off, as it is already doing naturally). But to people who have purchased in the last three to five years, it could be really devastating.

Re Crestview: It wasn't meant as an insult in any way. I love Crestview. But our family -- many families -- desire three bedrooms, a living room with room for a dining table (if not a separate dining room), and an office. And, finding they can't afford that south of Metric, that's why they move further afield, so they can pay 25-50% less than the price for a Crestview home, and have 1800+ square feet to live in.
 
Doug Gorton Professional Painting
Interior & Exterior Painting, Fence & Deck Staining, Hand Wash Houses, Screens, & Solar Panels
(512) 799-8384
Zen Electronics - Custom Home Theater
A Mueller Resident Owned Business Providing Personalized, Cost Effective, Home Theater & Home Automation solutions in the Austin, TX Area. Click here to learn more.
PromiseLand Learning Center
MOMS!! Mother's Day Out Program starts Aug 15! Register by June 30. Near Mueller. Also offering full-time care, 6 weeks-5 years.
512-220-6381
view more ads »
1 2 3 Next Last
© 2005 - 2012 cityCore, LLC   |   terms   |   privacy