tailgatetimer10 said:

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3k sqft, 4bd 2.5bth with a pool. Updated, but not renovated. Dumb.

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Yesterday I finally see someone has just gone way overboard on their up front asking price - I was wondering when it would happen. Cedar Park 3K sqft house on a normal neighborhood lot, with a pool, asking $750K. Would have been maybe $500K a year ago.

Address? Large sqft plus pool right now is almost guaranteed 700k plus right now

We bought a house in Lake Forest in May 2020 for $125/sq ft, and at the time, we thought it was a good deal. A house a few doors down is now selling for $202/sq ft! If I believe that its selling for $75/sq ft more than what I bought less than a year ago, I'm fine with the $240,000 in equity, but I sure as hell don't want to pay the taxes on it. I don't see how this is sustainable long-term.

https://www.realtor.com/realestateandhomes-detail/2262-Fernspring-Dr_Round-Rock_TX_78665_M76139-91228

There will be latent long term effects. The city is going to raise appraisals slowly to what is going on, and it is going to eat away at home owners in the area. A few $$$ extra a month in taxes matters...even if the voters are too stupid to realize it.

Looking at a new build in bastrop. I feel like its 50-75k over priced. But that's how far out I had to go.

tailgatetimer10 said:

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Address? Large sqft plus pool right now is almost guaranteed 700k plus right now

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For some reason Redfin says "Address Undisclosed" but it is very close to Vista Ridge football stadium in Cedar park.

House sold April 2018 for 450K. Listed today for $750K.

lol, I know the listing agent for this. Recall my post above, saying 150k over asking? That is why this one is posted at 750k...
508 King Eider Ln is the address

House across street from me went for sale on Friday for $370k. Had an open house on Saturday and Sunday. After the open house on Saturday, they got so much interest they had to raise the price to weed people out. They bumped the list price $55k to $425k.

I went over with the wife to talk to the realtor yesterday and she said they had already had multiple offers over $425k and that she thought it would go for at least $450k. That is almost $100k more than what we paid for our house 10 months ago, and our house is 900 square feet larger.

https://www.realtor.com/realestateandhomes-detail/2130-Paradise-Ridge-Dr_Round-Rock_TX_78665_M71487-83134

tailgatetimer10 said:

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lol, I know the listing agent for this. Recall my post above, saying 150k over asking? That is why this one is posted at 750k...
508 King Eider Ln is the address

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So Tulip Trail sold for $750k? I know the seller.

That's my understanding. 'At least 750k' ... so likely even more. I was in the process of getting my offer in.. my agent called and said "don't worry about it" because I was not even close. I refuse to play this game of insanity.

tailgatetimer10 said:

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That's my understanding. 'At least 750k' ... so likely even more. I was in the process of getting my offer in.. my agent called and said "don't worry about it" because I was not even close. I refuse to play this game of insanity.

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That is crazy, nice house - I've been to it - but I swear it was just $500K a year ago. this increase in prices is INSANE. We live in Cedar Park and have a pool, I'm struggling to accept my house is worth $200K more than I thought it was (at least currently, this may all end or crash at some point). No plans to move and will keep on eye on county tax evaluation.

If I had a pool right now, I would be questioning how much I enjoy that pool. Houses with pools are so insane. I would say they are selling for almost 200k more than a similar house without one. Even if it is a ~$90k pool


in 2020, the highest selling house in that exact neighborhood was 480k.....

Selling my house in Circle C later this spring....1 acre lot in gated area, green belt, downtown views, pool/spa, custom patio/outdoor kitchen, 4800 Sq Ft, 5 bedroom, media room, etc.

Last summer I thought $1.5M would be a great number but looks like we will list for over $1.8M right now. Willing to bet this will be a record for the neighborhood. Crazy Stuff.

Also, DM if anyone wans to buy it

tailgatetimer10 said:

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That's my understanding. 'At least 750k' ... so likely even more. I was in the process of getting my offer in.. my agent called and said "don't worry about it" because I was not even close. I refuse to play this game of insanity.

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Middle of 2014 they bought that house for $315K. $315 to $750 isnt bad in less than 7 years.

Now I'm curious: where are y'all going to move once you sell?

I didn't know CC had downtown views...

Bought a lot in Lake Travis (Signal Hill) last November so going to start construction after we sell this house.

We sold our house in Wooten last spring for ~$375/sqft. Zillow now estimates it at $382.

We sold our house Nov 2019 in the Uplands - Bet its up 25% from that now. We got an apartment and bought land out of town. Lived in the Uplands for 20 years

We are in Balcones Woods and are at the back of the neighborhood (8 minute walk to North @The Domain) and houses go on the market and like most areas they are sold above asking price in hours.

Mine will be on the market in the fall about we get a daughter married off.

Was going to do it now but later this year might be better based on what is happening.

If you're selling and not rebuying in the Austin area.. I would sell now. These prices will have to fade as the year goes on. I cannot imagine it staying like this.

Is your assumption that people from Cali will relax after Covid? Asking because that's my assumption and I hope it's not just wishful thinking.

500,000ags said:

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Is your assumption that people from Cali will relax after Covid? Asking because that's my assumption and I hope it's not just wishful thinking.

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There's a few things I think are happening:
-Right now, I personally know of people in Austin who no longer work for an Austin employer. They are working remotely for an out of town employer. Will this continue after return to office? These homes are clogging up the market
-I think there is a lot of people who are worried about covid and not wanting to sell or move yet, thus reducing houses on the market
-Is there going to be any fallout due to no evictions/mortgage faults?
-Specifically up north, I am curious to if companies return to the office.. how many will want to go back closer to the city?
-We are in a general shortage.. at some point the demand will chill. will the pricing force it? Got to think our salaries aren't going up 20% year over year.

I could be wrong. I hope I am not. This is flat out dumb.

tailgatetimer10 said:

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If you're selling and not rebuying in the Austin area.. I would sell now. These prices will have to fade as the year goes on. I cannot imagine it staying like this.

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Not buying again but will lease an apt here for a year or so...we have a place an hour outside of the city that is not ready to move into...

I hear what you are saying but it will prob be physically impossible to do something before mid August.

Just an FYI for your decision making. A lot of homes are going on the market with a mandatory lease back for 3 to 6 months. Consider that as well.

The market is artificial until foreclosures are allowed again. While the economic draw of Austin is increasing, the lack of inventory is affected by the inability of a large number of homes to get on the market due to the foreclosure prohibition.

I wondered this, but forgive my naivety or bias: will foreclosures hit popular and desirable neighborhoods as much as they will lower income areas? I'm in a bubble, but most people I know can work from home and are going about business all the same.

agreed that the foreclosures might not be in the highest price neighborhood. However, with this level of unemployment, do we think that none of the houses in the nice neighborhoods will be foreclosed?

With no inventory at all price levels, there are fewer opportunities to buy any fixer uppers or anything other than well above list price.

If you're looking for a new build, I would say best thing to do is seek out the builders of the houses and get on the books with them before the house hits MLS. I took this route after missing on several houses back in 2018 and it worked out great. I live on the east side and new houses popping up all the time.

Living in Austin and working for a non Austin employer has been common for a while. The difference now is there are more options to work for an Austin based company than ever before. Foreclosures will come but not likely to effect the higher than median average neighborhoods. Yes many people won't commute downtown anymore so people will move out, but so many people, especially those moving from a coast want to live in the city not in the suburb. I thought when we paid 375 for 2/1 It would never go up from there and I was wrong. Now it's a 3/2 with a pool and we didn't live right next to my wife's hospital I could sell it and buy my ranchette in llano

TxAgg07 said:

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House across street from me went for sale on Friday for $370k. Had an open house on Saturday and Sunday. After the open house on Saturday, they got so much interest they had to raise the price to weed people out. They bumped the list price $55k to $425k.

I went over with the wife to talk to the realtor yesterday and she said they had already had multiple offers over $425k and that she thought it would go for at least $450k. That is almost $100k more than what we paid for our house 10 months ago, and our house is 900 square feet larger.

https://www.realtor.com/realestateandhomes-detail/2130-Paradise-Ridge-Dr_Round-Rock_TX_78665_M71487-83134

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Ask them where all these people are coming from? In town, out of town?

I heard about that Forest Oaks house for $750k. Crazy!
We lived there for about 8 years but moved 5 years ago a little North. Insane!
Tempting to sell a rental I have but prices will just keep rising. The collective we have officially been californicated.

I don't think that we will see this slow down much in the immediate future, due to all the major tech companies moving in. Google, Amazon, Apple on Parmer lane, mean an influx of high-middle income earners wanting to be within 10-20 mins of the office. I don't really know anyone except for one lawyer and one TxDOT employee that still works downtown. Not everyone wants to be down there and put up with all the crap it entails. There is lots of new construction at the Domain, and from what I have heard, another Domain like area is lined up for the Northwest corridor up between Leander and Gtown.

Which project? The one off business 183 or the larger plot of land bought off whitestone?

I'm curious how both will end up

There was supposed to be another Domain like facility in Round Rock off 45 and 35, but I haven't heard anything recently on how its going to progress.