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11251 Pinehurst

930A6774_5_6_fused 11251 Pinehurst (MLS #5900901) – a recently updated home due to the Halloween flooding of 2013 and located in Onion Creek in South Austin – sits on the edge of a cul-de-sac and boasts a large lot with mature trees and a private oasis in the backyard.

Offered at $359,500, this three bedroom and two and a half bathroom home is quite the find.

Built in 1978, tax records show a square footage of 2226. However, this number does not include the approximately 1400 square-foot, screened-in back porch located on the back of the home, nor does it include an air conditioned/heated office space in the side-entry, two-car garage.

930A6711_2_3_fused11251 Pinehurst is open, light, bright and airy with a lovely covered front porch to welcome residents and guests alike. Covered with a metal shingle roof, this home contains a variety of exquisite characteristics that you will be delighted to discover.

For example, a dining area just off of the front entrance leads into a sizeable living area that features a massive stacked rock fireplace flanked by built-in shelving units. This main living area has vaulted ceilings and lots of windows, which lends itself to a comfortable and relaxed atmosphere. Three windows located at the top of the entrance wall offer extra sunshine in the morning.

930A6828_29_30_fused(1)Additionally, the entire home is covered with tile flooring, some of which looks like wood planks. The flooring is definitely a sight to behold and a must see!

All three bedrooms are located off of the living room on the left side of the home. The two extra bedrooms are spacious and connected by a large Jack-and-Jill type bathroom, which also possesses a few disability features.

930A6680_1_2_fusedThe master bedroom has a vaulted ceiling with a wood beam running the length of the room. This bedroom is suited for a king-sized bed, along with several more large pieces of furniture and the bathroom is absolutely magnificent! Featuring a sizeable shower area, the master bathroom contains his and her vanities, a spacious dressing area and two walk-in closets.

11251 Pinehurst boasts an eat-in kitchen with walls of white cabinets, Corian-type countertops, a convection oven, recessed lighting and an attached table countertop that seats three. The kitchen is connected with an impressive breakfast area that is currently being used as a den.

930A6631_2_3_fusedI saved the best for last! The backyard is truly an amazing outdoor retreat with a salt water pool, hot tub and gorgeous landscaping. The pool is partially covered for those who don’t want to swim in the sun and it is deep enough for a diving board. The covered patio area has space for several seating arrangements and for a dining area.

Right off of the backyard is the screened-in back porch which includes a countertop and sink-station, along with another outdoor living area and dining area – great for entertaining or just relaxing after a long day!

Other features include a sprinkler system, gas dryer connection, gas water heater, and storage building. This area is known for its great golf courses, parks, country club and tennis courts!

If you are interested in 11251 Pinehurst or buying/selling real estate in the Austin area, please contact Mary Lynne Gibbs at 512.431.2403 or austinluxurybroker@gmail.com. It would be an honor to earn your business!

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Texas Economy and Market Update

Briarcliff.lakeviewThe Austin Board of Realtors® welcomed Dr. James P. Gaines, a research economist, from Texas A&M University Real Estate Center to the Palmer Events Center on October 15th to discuss the Texas economy and give a real estate market update.

Although I was unable to attend this event, I did obtain Dr. Gaines’ presentation and thought you might be interested to review his findings.

As we have seen in the past few years, Texas and the Austin Housing Markets have continued to lead the country’s real estate market. There have been record highs for the last five years in Texas for median home prices and 2014 has seen a 5% increase in home sales, which makes it the second best year ever recorded.

The four reasons Dr. Gaines gave for the Texas economy doing better than other states are job gains, housing prices, general business growth and population growth.

I thought it was interesting to note that Texas has added 14 million people in the last 40 years and is expected to add another 30 million people in the next 40 years. Dr. Gaines claimed that with this exponential growth Dallas/Fort Worth, Houston and Austin populations will explode.

Obviously, the overall real estate market reflects the economic health of any area and Dr. Gaines gave his economic outlook for Texas, which included:

  • Downside risk is a national (global) recession, but even then, Texas may do better than most other states IF energy is strong
  • Energy sector subject to global actions – not as robust
  • High tech and business services fueling job growth
  • Job growth expected to stay relatively strong
  • Population expansion continues to fuel growth
  • Local growth issues becoming more pressing, causing greater strain on state and local resources
  • Local non-residential construction strong

Additionally, he mentioned that even though the past 20 years has seen a housing roller coaster due to monetary policy, political directives and capital market manipulation which then caused a boom-bust-boom scenario; Dr. Gaines believes that housing market is “returning” to fundamentals. These include:

  • Employment-income
  • Household formations
  • Affordability: Interest rates and financing

Dr. Gaines said his top housing issues are:

  • Sustainable price increases and Affordability
  • Mortgage interest rates
  • Construction & labor costs
  • Lot inventory for new construction
  • Mortgage market changes: loan limits; variable qualifying; closing costs
  • Higher “other” costs: taxes, insurance
  • Stronger rental market
  • Return to fundamentals: employment/income, household formations, affordability.

Dr. Gaines gave his Texas housing outlook, which included:

  • Percentage slowdown from past two years
  • Emphasis in new construction on high-end price range
  • Entry-level new homes difficult to finance; Gen-Y buyers most affected
  • Labor and lot inventory shortage across the state
  • Urban-central and suburban markets both strong
  • National and local regulations and controls becoming more stringent
  • Non-residential construction leads nation
  • Future Issues: flood insurance; affordability; EPA regulations on upland wetlands; local growth management efforts

Overall, the Austin and Texas economies are better than most and continue to have considerable potential. However, there will always be pros and cons to exceptional growth. Additionally, it would do us well to remember that there can be major changes due to unforeseen challenges and uncontrollable situations.

“It’s tough to make predictions, especially about the future.” Yogi Berra

Keep in mind that each of us has an opportunity to have our voice heard by the privilege of casting our vote. So, don’t forget to either vote early (ends October 31st) or vote on Election Day, which is November 4th!

If you or someone you know is interested in buying or selling real estate in the Austin area, please contact Mary Lynne Gibbs at 512.431.2403 or austinluxurybroker@gmail.com. It would be an honor to earn your business!

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Hill Country Galleria Halloween

ID-100277235Spend the day at the Hill Country Galleria on Saturday, October 25th for a spectacular spooky treat!! There’s a little something for everyone – of all ages – with costumes, candy and games!! Perfect for a Halloween celebration!

This family-friendly event runs from 2 p.m. until 9 p.m. with kids’ activities, free face painting, bounce houses, bungee jumping, live music and an absolute must…trick or treating!

Everyone is encouraged to wear their costumes and enjoy the festivities at the Hill Country Galleria and its 100+ participating stores and restaurants!

The schedule of events for this trick or treating extravaganza includes:

2:00p-3:00p – Kids Entertainment and music by The Sassy Spurs at the outdoor amphitheater

3:00p-6:30p – FREE Face Painting, FREE Bounce Houses, Bungee Jump

4:00p-6:00p – Trick-or-Treat at participating locations

7:00p-9:00p – Live Music by The Brewbirds with Warren Hood

The Hill Country Galleria is located on Highway 71, east of Highway 620, in Bee Cave, Texas. For more information on this event and the stores and restaurants that are located in this fabulous shopping center, please go to www.hillcountrygalleria.com.

Additionally, the city of Austin is having a busy weekend with the Texas Book Festival and the Austin Film Festival going on as well! Check out Austin October/November Events for more information on these events!

If you or someone you know is interested in buying or selling real estate in the Austin area, please do not hesitate to contact Mary Lynne Gibbs at 512.431.2403 or austinluxurybroker@gmail.com. It would be an honor to earn your business!

*Image courtesy of “Halloween Tree Represents Trick Or Treat And Environment” by Stuart Miles at FreeDigitalPhotos.net.

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4804 White Elm Drive

930A5923_4_5_fused (1)4804 White Elm Drive is a pristine, two-story home in the Westcreek Neighborhood that was just listed last week for $239,900. True to the strong housing market in this area, 4804 White Elm Drive is already under contract and taking back-up offers.

4804 White Elm Drive is a prime example of the quick turnaround for real estate in this area, especially when a home is well-maintained, nicely updated and the lawn is beautifully manicured! If a home looks like a model…it goes fast!

930A5790_1_2_fused (1)This greatly desired neighborhood was built in the 1970’s and 1980’s and has approximately 800 homes and is tucked south of Highway 290/71, west of Mopac and north of William Cannon. The Westcreek Neighborhood has easy access to almost anything you could want or need and is close to shopping, restaurants, outdoor activities and even downtown Austin.

However, since 4804 White Elm Drive is taking back-up offers, you might be interested to know that it is a three bedroom and two bathroom home with 1611 square feet. Built in 1979, it has a fabulous open layout with a living room and dining room combo and vaulted ceilings.

930A5829_30_31_fused (1)Gorgeous wood floors flank the living area and your eye goes immediately to the massive stone fireplace on the back wall of the home. Additionally, “Renewal by Andersen” windows and ECO by Consentino countertops, along with Whirlpool stainless steel appliances make this home stand out among others.

The bedrooms of 4804 White Elm Drive are large and the master bathroom is amazing with its updated walk-in shower, extensive counter space and loads of storage cabinets.930A0952_3_4_fused (1)

Nestled amid towering trees, 4804 White Elm Drive has a covered patio in a private backyard for much needed R&R after a busy day!  To see the virtual tour, please go to 4804 White Elm Drive Virtual Tour.

If you are interested in this home or any others in the Austin area, please do not hesitate to contact Mary Lynne Gibbs at 512.431.2403 or austinluxurybroker@gmail.com. It would be an honor to earn your business!

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Austin October Events

As we are in the midst of fall 2014, Austin becomes a destination for many to explore our music scene, history, one-of-a-kind race track and expansive entertainment opportunities. Austin is not just a hotbed of attractions, restaurants, eclectic culture and more…our events are amazing, too!

October is a busy month in Austin. Not only does the weather cool off enough for outdoor activities to be pleasant, but our calendar is filled to the brim with many options each weekend to enjoy our marvelous city!

Some of the events that are happening during October 2014 include:

Austin City Limits Festival – October 10-12 – The second weekend of this festival will again see over 75,000 concert goers each day. Headliners include Eminem, Outkast, Lordes, Pearl Jam, Lana Del Ray, along with over 130 musical guests on eight stages in Zilker Park. www.aclfestival.com

U.S. Vintage Racing National Championship – October 10-12 – Over 600 vintage race cars from around the world will race throughout the three days of competition at the Circuit of the Americas from 8 a.m. to 6 p.m. each day. www.circuitoftheamericas.com/vintage/ 

Austin Celtic Festival – October 18-19 – For 18 years Austin has been celebrating with the largest gathering of Celts in Central Texas all things Celtic at this festival held at Fiesta Gardens. Celtic traditions, achievements, dance, music, food and more are highlighted and commemorated throughout the weekend. www.austincelticfestival.com

Senior Deputy Sheriff Jessica Hollis Fundraiser – October 19 – Everyone is invited to a fundraiser at Angel’s Ice House off of Highway 71 in Spicewood to raise money for a monument to honor the life of Jessica Hollis who gave the ultimate sacrifice as she checked on the flooded Low Water Crossing on Fritz Hughes Park Road in Austin, Texas in September. Anyone can donate that day or at any other time at www.100clubcentex.com.

Austin Film Festival – October 23-30 – Founded in 1993, Austin will once again turn into little Hollywood as screenwriters, filmmakers, producers, agents and artists gather to collaborate and share their creativity throughout the eight days of the festival and conference. www.austinfilmfestival.com

Texas Book Festival – October 25-26 – Established in 1995 by Laura Bush, the Texas Book Festival honors authors and their many contributions, promotes reading and serves to benefit public libraries. This premier literary event hosts approximately 250 authors who participate in readings and presentations, panel discussions, book signings. Other activities include cooking demonstrations, live music, food, children’s activities, and literary vendors. www.texasbookfestival.org

I hope you will visit one or all of these great events in Austin over the next month! The capital city offers entertainment for all ages and interests…and this is just one month’s worth of activities!!! Enjoy!

If you or someone you know is interested in buying or selling real estate in the Austin area, please contact Mary Lynne Gibbs at 512.431.2403 or austinluxurybroker@gmail.com. It would be an honor to earn your business!