Friends,
October is here, which means that cooler temperatures are, hopefully, on the way! The weather isn't the only thing that has begun to cool in Austin, however - we also continue to see a cooling off of our recently overheated housing market.
As described in our market summary below, the housing market in Central Texas continues to rebalance. Rising mortgage rates are contrasting with falling home prices in neighborhoods throughout our region. This situation has created many new opportunities for buyers, while sellers continue to benefit from historically high home values and strong buyer demand.
During this period of rapid change, it is more important than ever to have a trusted advisor by your side. We are here to help you successfully navigate these shifting sands with experienced insight and expert analysis. Wishing you and yours a wonderful October and a very Happy Halloween - shine on!
Meredith Alderson + Lisa Harrell |
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What is Scandinavian Design?
Features of Scandinavian Design include:
- contrast and natural light
- modern furniture
- textures along with more muted and natural colors
- practical and tactile |
2022 AIA Austin Homes Tour
This October, the Austin chapter of the American Institute of Architects will host its 36th annual AIA Austin Homes Tour as a fully in-person event, following the 2020 and 2021 events which were virtual / hybrid versions of the tour due to pandemic concerns. The event’s return to form as one of the nation’s longest-running celebrations of residential architecture features self-guided tours of new and renovated homes around Austin, designed by a number of prominent local studios.
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Austin City Limits is Back!
Returning for its 21st year, the Austin City Limits Music Festival (October 7-9 and October 14-16, 2022) brings the magic of the famed public TV series Austin City Limits outside the studio and into Austin's most beloved park. The ACL Festival takes place over two weekends and features 100+ acts across 9 stages.
Find a great guide to the event here. |
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US Formula 1 Grand Prix, Austin TX
The United States Formula 1 Grand Prix is back in Austin! Between October 22-24, The Circuit of the Americas will host the largest event of the season.
Formula 1 is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l'Automobile.
Get ready for a weekend of racing and live music performances by Green Day and Ed Shereen! Learn more here. |
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Rock the Park is BACK!
Mueller and KUTX are excited to rock the amphitheater at Mueller Lake Park again this fall with another round of free, family-friendly concerts curated by KUTX and the Sunday-evening kids’ show, Spare the Rock, Spoil the Child.
Check out event details here. |
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Hill Country Getaway
Ever thought about going on a Hill Country Getaway? Here are our favorite places just outside of Austin!
- Cypress Valley
- Lucky Arrow Retreat
- Ololo
- Geronimo Creek Retreat
- Getaway Hill Country
- The Wayback
- Collective Hill Country
- Oeste
Find more getaway ideas here. |
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OKTOBERFEST
Grab your tickets because it is right around the corner - The German-Texan Heritage Society holds this annual festival, featuring kid-friendly activities during the day along with live music and authentic German food. This is a limited attendance, outdoor event. It'll be the biggest little Oktoberfest around!
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Tuesdays at Lou's
Movie Night is now running at BOTH Lou's locations, every Tuesday night starting at 8pm!
Grab your crew and head to the Barton Springs or Eastside on Tuesday nights for some of your all-time favorite flicks on the big screen to get you in the fall spirit! They're serving up burgers, loaded nachos, chicken tender baskets, and best of all, HALF-OFF bottles of wine—every bottle.
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Market Stats & Local News |
Austin's Fall Market Outlook: Sugar and Spice and Everything Nice!
The cool, crisp mornings are finally here and fall is in the air. And, just like your pumpkin spice latte, the mortgage market is heating up! We have seen a lot of movement in interest rates this past month, with more increases predicted throughout Q4. But, there are some surprisingly great rates available on adjustable rate mortgages (ARMs), which can be a solid option if you're willing to refinance when rates come back down. As Texas economist Mark Sprague shared with us at a recent event, "there isn't a better time to buy than now," as home prices and inventory levels have become much more favorable for buyers and with the expectation that mortgage rates will continue their climb into 2023.
While sellers may need to adjust their expectations on price relative to earlier this year, the Austin market is still far outpacing the national median sales price. So, if you've owned your home for at least 2 years, you are realizing tremendous gains since the beginning of 2021. Compass provides us with detailed market reports for hundreds of neighborhoods within Austin Metro, so if you're curious what's happening with home values in your area, please reach out to us to get a customized report! |
Updates to Block 32 Tower Project
The Block 32 Tower Project is working through permits as it updates downtown site plans. Manifold Real Estate is said to be producing a pair of towers that could become Austin's tallest to-date.
The towers are planned across two phases but will rise from a shared eight-story parking podium spanning the full half-block, which also includes an extra three underground garage levels. The first-phase tower, rising 42 floors and seen below on the right, will contain 340 multifamily residences alongside 20,000 square feet of retail space. The second-phase tower is set to contain another 340 multifamily units along with a 276-key hotel and 28,000 additional square feet of retail.
Learn more about the project here. |
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George
Storybuilt continues work on its next community, George. This beautiful, brand new construction, which consists of 80 town homes and 36 single-family homes, will be situated in Central East Austin.
StoryBuilt is an urban infill specialist, developing communities in five of the fastest growing real estate markets in the country.
Learn more about the George development here. |
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Where did you grow up?
I was born and raised in Austin, TX. I was born at Seton on 34th Street. I went to Doss Elementary and graduated from Anderson High School in Northwest Hills.
How long have you been in real estate and what is your favorite thing about it?
I have been investing in Austin real estate for over 10 years. I finally decided to take the leap and make it my full time career this year by becoming a licensed real estate agent and joining Heyday!
What are some of your favorite things to do in and around Austin?
One of the best things about Austin is being outside. I run around Lady Bird Lake and swim in Barton Springs at least once a week. Of course, I also love the amazing restaurants and bars we have in Austin, like Fresa’s, ATX Cocina, Laundrette, and Kinfolk. Another one of my faves is the live music. I can’t wait for ACL Fest. This will be my first time to see The Chicks.
What other hobbies do you have outside of real estate?
I love yoga, especially the outdoor yoga classes at Wild Heart Yoga. I also enjoy reading. The last book that I read was The Premonition by Michael Lewis. It brought me back to my days working at the CDC.
Do you have a favorite restaurant?
Two of my faves are ATX Cocina and Laundrette. And my favorite speakeasy is Kinfolk. It’s a whole experience. |
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Favorite place you’ve ever traveled to? What is on your bucket list?
I have been to over 30 countries, so it is hard to pick one favorite, but Croatia is definitely amongst the top. Next on my list is New Zealand. Send me any recommendations!
If you could have one superpower, what would it be?
Flight. It would be so awesome to see the world from above and to soar through the sky.
Why do you love Heyday?
The people! I love working with the other agents and staff. Everyone is so kind, generous, experienced, and fun! |
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Fall Pool Maintenance
Six Tips for Fall Pool Maintenance
1) General Cleaning
Routinely use your pool vacuum, remove pool toys, brush tiles, and ensure the pool is in good order.
2) Leaves & Debris
Don't rely solely on your pool vacuum to clean the leaves and debris. Clean the gutter baskets for proper filtration.
3) Pool Filter
By doing steps 1 & 2, you should ensure that your pool filter is functioning properly; you may also have it routinely checked.
4) Heating
If you have a pool heater, save costs by covering your pool during cooler temperatures or overnight.
5) Pool Chemicals
Monitor your pool's pH balance and alter the chemicals when needed; temperatures may affect your pool's pH balance.
6) Prepare for the Early Freeze
We may not need to worry much about this in Austin; however, by covering your pool and ensuring pH balance and cleanliness, your pool will last throughout the colder seasons. Only in freezing weather may you need to consider winterizing your pool.
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FOR SALE
Round Rock
3 bed | 2 bath
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FOR SALE
Highland Park
4 bed | 3.5 bath
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FOR SALE
Buttercup Creek
4 bed | 3.5 bath
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FOR SALE
North University
2 bed | 1 bath
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Principal, Broker Associate
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Meredith Alderson
Principal, REALTOR®
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Lisa Harrell
Principal, Broker Associate
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Baker Harrell, PhD
Principal
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Carlos Contreras
Client Success Manager
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Tessa Lauritzen
REALTOR®
512.284.2120
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Claire Moore
REALTOR®
512.228.6063
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Anna Uliassi
Broker Associate
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The Texas Real Estate Commission (TREC) regulates real estate brokers and sales agents, real estate inspectors, home warranty companies, easement and right-of-way agents, and timeshare interest providers.You can find more information and check the status of a license holder at www.trec.texas.gov. You can send a complaint against a license holder to TREC. A complaint form is available on the TREC website. TREC administers two recovery funds which may be used to satisfy a civil court judgement against a broker, sales agent, real estate inspector, or easement or right-of-way agent, if certain requirements are met. Real estate inpectors are required to maintain errors and omissions insurance to cover losses arising form the performance of a real estate inspection in a negligent or incompetent manner.
Please note: inspectors may limit liability through provisions in the contract or inspection agreement between the inspector and their clients. Please be sure to read any contract or agreement carefully. If you do not understand any terms or provisions, consult an attorney.
If you have questions or issues about the activities of a license holder, the complaint process, or the recovery funds, please visit the website or contact:
TREC at Texas Real Estate Commission
P.O. Box 12188
Austin, Texas 78711-2188
512.936.3000 |
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