The decision whether to rent or buy a house is a big one and should not be taken lightly in any circumstance. When you do decide to take the plunge, put some useful house hunting tips into action so you find exactly what you’re looking for with the least amount of hassle.

Location is one of the key factors that goes into determining where and what house you select. Take a look at the places of employment, schools and entertainment venues that are local. Don’t select a house that has a longer commute than you are willing to make every day.

Take a look through the neighborhood where you’re contemplating moving. Look in peoples’ yards for signs that say “for sale” and, if you have interest in any of them, call the realtor to get more information about the home. Make a list of your wants and your needs. Do not confuse the two of them when searching, especially when you’re on a strict budget or have limited time to select the home you want to buy. Browse through shopping guides so you can look at the different aspects of each house.

Bring a paper and pen to each house that you look at so you can write down the positives and negatives for each home. It may also be beneficial to bring someone else such as your spouse, best friend or even your children with you to get someone else’s perspective. Someone else may see a problem that you overlooked or point out something that drastically alters your decision.

Don’t exclude a potential home or homes based solely on the square footage. Different homes have different layouts, and one with less square footage may appear larger than ones with more square footage if the layout is created just right.

Be realistic when looking for your dream home. It can be very difficult to find the perfect home to meet both your needs and wants while fitting into your budget. Look at any potential homes with an eye open for what it can be, not what it is. Remember that you can always change the paint or carpet, but you can’t relocate the windows or where the doors are.

Follow the advice for home hunters from the professionals in the field who have plenty of experience with buying and selling homes to make the process as smooth as possible.

 

Lake Travis Luxury Waterfront Homes are as unique as the lake, itself.   The analysis below considers the entire inventory of waterfront homes listed or sold above $750,000.  That includes Volente Beach, Lakeway, Lago Vista, Jonestown, Briarcliff and everything in between.  So you’re saying to yourself, “But I’ve always heard that homes on the South Shore of Lake Travis typically sell for more than homes on the North Shore of Lake Travis.”   Well…you wouldn’t be entirely wrong.  So, we are also going to give you a brief look at the past 12 months for each sub-market onLakeTravis.

 

Lake Travis Luxury Waterfront Market Overview

Due to the price point in this luxury market, you’ll find that the amount of inventory is higher than the Austin Average.  Over the past 12 months the inventory of luxury waterfront homes has ranged from 13 months to 36 months.  These dramatic swings happen when you have a product that only fits the criteria of a specific buyer.  The statistic to consider is the average days on market ranging from 190 to 300.  This is a more realistic picture of what to expect when your home is priced correctly, staged correctly and marketed by a full-time REALTOR®.

 

Lake Travis Luxury Waterfront Homes – Submarket Analysis

 

When looking at the different submarkets that exist onLake Travis, there are two main submarkets and two minor submarkets.  The two main submarkets are listed as Lake South (predominately occupied by the City of Lakeway) and Lake North (predominately occupied by the City of Lago Vista).  Below are the statistics for all four submarkets for the past 12 months.

LAKE SOUTH  (LS):                                                    LAKE NORTH (LN)
Current Homes Available:  26                                          Current Homes Available:21
Homes Sold in Past 12 Months:  18                                 Homes Sold in Past 12 Months:  10
Months Worth of Inventory:  17.33                                 Months Worth of Inventory:  25.20
Average List Price:$1,542,233                                          Average List Price:  $1,210,700
Average Sales Price:  $1,463,923                                     Average Sales Price:  $1,129,300
% of List Price vs. Sold:  94.92%                                      % of List Price vs. Sold:  93.27%
Average Days On Market:  278                                        Average Days On Market:181
Average SF:  4836                                                              Average SF:3999

 

LAKE WEST  (LW):                                                     RIVER NORTH (Lake Travis Only)  (RN)
Current Homes Available:  9                                             Current Homes Available:6
Homes Sold in Past 12 Months:  4                                   Homes Sold in Past 12 Months:  2
Months Worth of Inventory:  5.33                                   Months Worth of Inventory:  4
Average List Price:$2,271,475                                          Average List Price:  $1,162,500
Average Sales Price:  $2,183,125                                     Average Sales Price:  $1,087,500
% of List Price vs. Sold:  96.11%                                      % of List Price vs. Sold:  93.54%
Average Days On Market:  113                                        Average Days On Market:224
Average SF:  8014 **                                                         Average SF:2992

 

** In the Lake West area, a home sold that was 15,394SF, making the Average SF higher than normal.  Without this home, the Average SF is 4,367, Average List Price is $843,000 and Average Sold Price is $803,500.

 www.NylandTeam.com
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The Nyland Team has helped many home sellers and home buyers throughout the Lake Travis market, including Lakeway, Lago Vista, Point Venture and Briarcliff.  Our team has buyer’s experts with years of experience in Re-Sale, Relocation, Foreclosures and New Construction.

Our success in the Lake Travis market has helped us develop a unique and innovative marketing system that harnesses the power of the internet to get your property sold quickly.

For a Market Absorption Trend of your neighborhood, please contact Jeffrey Nyland at 512-626-8552 or email him at Jeffrey@NylandTeam.com  We’re here to answer all your real estate questions.