• Skip to main content
  • Skip to footer
  • We Love Austin
  • Area Profiles
    • Lakeway
      • Rough Hollow
      • Flintrock Falls
      • Serene Hills
      • Marina Village
      • Vineyard Bay | Costa Bella
    • The Hills of Lakeway
    • Bee Cave
      • Falconhead
      • Lake Pointe
      • Uplands
      • Spanish Oaks
      • Sweetwater
    • Spicewood
      • West Cypress
      • Travis Settlement
      • Briarcliff
      • Summit at Lake Travis
      • Sweetwater
    • Barton Creek
    • Westlake Hills
  • Seller Advantage
  • Featured Listings
  • About Us
    • Press Room
    • Testimonials
    • Careers at KW

The Gibbs Team

512-431-2403

Lake Travis Real Estate

August 20, 2015 By Mary Lynne Gibbs

July 2015 Austin Real Estate Review

Jul15_1

Austin-area home sales hit all-time high, inventory levels rising in July 2015
Austin Board of REALTORS® releases real estate statistics for July 2015

 

AUSTIN, Texas – August 20, 2015 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), Austin-area home sales hit an all-time high, increasing 12 percent year-over-year to 3,149 sales for the month of July.

Barb Cooper, 2015 President of the Austin Board of REALTORS¬®, explained, “We’re in the midst of one of the most active summer selling seasons to-date, with more single-family home sales than ever before. Home prices remain high, but inventory levels have increased steadily throughout 2015, perhaps taking a step toward a more balanced housing market.”

According to the report, the median price for Austin-area single-family homes increased eight percent year-over-year to $269,500 in July 2015, while average price increased six percent to $338,452 during the same time frame.

In July 2015, less than 30 percent of single-family homes sold in Central Texas were priced below $200,000, outside of an affordable range for many Austin-area homebuyers. The majority of pending sales and active listings fall outside of Austin’s city limits in surrounding areas like Cedar Park, Leander, Hays County, Round Rock and Pflugerville, showing that Central Texas residents are continuing to prioritize affordability.

Once again, total dollar volume topped $1 billion, reaching $1,065,785,348 and increasing 19 percent compared to July 2014.

New listings increased nine percent to 4,133 listings and active listings increased by five percent year-over-year to 7,174 listings, driving inventory levels up to three months for the first time since July 2014. However, Austin-area housing inventory is still well below the 6.5 month level, which the Real Estate Center at Texas A&M University cites as a balanced market.

Pending sales rose eight percent year-over-year to 2,873 listings and homes remained on the market for an average of 41 days, or two days more than July 2014.

Cooper concluded, “Mayor Adler recently called for 100,000 new housing units to be built by 2025 as a first step to untangling the city of Austin’s complicated permit review process and alleviating affordability issues in Austin. The Austin Board of REALTORS® sees this initiative as progress toward a more sustainable Central Texas housing market and will continue to work with city leaders to make Austin an affordable place to call home for all residents.”

 

July 2015 Statistics
3,149 – Single-family homes sold, 12 percent more than July 2014.

$269,500 – Median price for single-family homes, eight percent more than July 2014.

$338,452 – Average price for single-family homes, six percent more than July 2014.

41 – Average number of days single-family homes spent on the market, two days more than July 2014.

4,133 – New single-family home listings on the market, nine percent more than July 2014.

7,174 – Active single-family home listings on the market, five percent more than July 2014.

2,873 – Pending sales for single-family homes, eight percent more than July 2014.

3.0 – Months of inventory* of single-family homes, unchanged compared to July 2014.

$1,065,785,348 – Total dollar volume of single-family properties sold, 19 percent more than July 2014.

 

The following sections describe trends in other sectors of the Austin-area real estate market.

Townhouses & Condominiums
The volume of townhouses and condominiums (condos) purchased in the Austin area in July 2015 was 317, a four percent decrease from July 2014. The median price for condos was $224,850, which is 10 percent more than the same month of the prior year. When compared to July 2014, these properties spent 42 days on market, or five more days than July 2014.

Leasing
In July 2015, a total of 2,187 properties were leased in Austin, which is nine percent more than July 2014. The median price for Austin-area home leases was $1,550, three percent higher than in July 2014.

 

The Austin Board of REALTORS® (ABoR) builds connections through the use of technology, education and advocacy to strengthen the careers of its 11,000 members and improve the lives of Central Texas families. We empower Austin REALTORS® to connect their clients to the region’s most complete, accurate and up-to-date listings data. For more, contact the ABoR Department of Public Affairs at
marketing@abor.com or 512-454-7636. For the latest local housing market listings, visit AustinHomeSearch.com.

* The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Source: Austin Board of Realtors®

Filed Under: Blog Tagged With: Austin Real Estate, Austin Real Estate Market, Central Austin Real Estate, Keller Williams, Keller Williams Realty, Lake Travis Real Estate, Market Update, The Gibbs Team

August 20, 2014 By Mary Lynne Gibbs

Homebuilder Questions

New communities pop up throughout the Austin area on a regular basis with homebuilders ranging from national brands to exclusive luxury builders. I would love to say that all homebuilders are created equal and that they are all honest and ethical, but we all know we might find a few scoundrels in the mix.

It is critical to understand the process and know the right questions to ask when signing on the dotted line for a new home. This protects you in one of the largest purchases you will ever make.

First of all, having a Realtor® is a huge benefit. Why do you ask? Well, it’s because Realtors® can represent you and all of your interests where a homebuilder represents themselves and is looking out for themselves first and you second.

Additionally, Realtors® already know the transaction and building process and can pass this expertise along to you.

I would like to share with you a list of questions buyers should ask their homebuilders before signing and executing the contract. They include:

  1. What business entity or individual will appear on the purchase contract as the homebuilder? Who is this business entity?
  2. Who owns the lot upon which the residence will be built?
  3. Who owns the title company that the Seller (who presumably is the builder) is insisting upon using? How much business does that Seller/Builder give the title company?
  4. What is the relationship of the business entities the homebuilder owns or manages to specialty independent contractors he urges the buyer to use; i.e. custom pools, tennis courts, home entertainment centers, etc.?
  5. Where relevant, who owns the third party financing agent the Seller (who presumably is the builder) is insisting the buyer use?
  6. If the buyer wants any upgrades or allowances tied to an earnest money or other payment in advance of closing, what happens if closing does not occur?
  7. Under what terms and conditions can the Seller/ Builder refuse to close?
  8. If a warranty or assurance is promised, who is issuing it and what does it actually cover?

These are just a few of the many questions that I would ask during the negotiation process if you chose me to represent you in a new home purchase. Once the purchase contract was signed, I then would be on top of the transaction from start to finish.

Don’t be overwhelmed with the questions and process. Let me help with the details! It’s hard enough just to pick out the right paint, cabinets or flooring!!!

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 512.431.2304 or austinluxurybroker@gmail.com! It would be an honor to earn your business!

Filed Under: Blog Tagged With: Austin Real Estate, Homebuilders, Lake Travis Real Estate, Mary Lynne Gibbs, Sellers, The Gibbs Team

July 10, 2014 By Mary Lynne Gibbs

Lake Travis Fire Rescue

ML new 7Mary Lynne Gibbs is pleased to announce that she has been appointed the Co-Chair for the Lake Travis Fire Rescue Citizen’s Advisory Committee (CAC), which has been established by the Travis County Emergency Services District No. 6 (TCESD No. 6) Board of Commissioners. The role of the CAC is to advise the Board of Commissioners on policy and administrative decisions that guide the operations of Lake Travis Fire Rescue (LTFR). The CAC serves as a link between the TCESD No. 6 Board and the public at large.

LTFR has five fire stations serving an area encompassing over 104 square miles west of Austin, including Bee Cave, Lakeway, Steiner Ranch, River Place (until it is annexed in 2017), Hamilton Pool Road, Hwy. 71 West up until Bee Creek Road, The Hills and Lake Travis.

LTFR’s mission is to minimize loss of life and property through emergency response, prevention and community involvement. This essential public service has grown in the Lake Travis area since the early 1960’s after Mansfield Dam was built, which created the Highland Lakes chain, including Lake Travis.

The vision of LTFR is to be recognized by those they serve as exceptional and innovative. They succeed in this endeavor by putting into practice their commitment to Professionalism, Leadership, Integrity, Respect, Compassion and Safety.

According to Fire Chief Robert Abbott, LTFR attempts to seek continued improvement in their services. They never stop looking for ways to improve. Additionally, LTFR continues to pursue innovative ways to serve the community’s public safety needs.

LTFR is funded through ad valorem taxes, sales tax, building inspections, plan reviews and permitting. Moreover, LTFR Community Foundation, which is in its second year, has been created to provide community awareness, funding and resources for Lake Travis Fire Rescue, necessary to maintain the highest level of service possible, safeguarding life, property and the environment. The Foundation will have its first big fundraiser in October 2014.

Mary Lynne is thrilled to be an integral part of such a top-notch program. She is excited to serve her community in this capacity and is honored to have been chosen for this appointment.

Of course, if you or someone you know is interested in buying or selling real estate in the Austin area, please contact Mary Lynne Gibbs at 512.431.2304 or austinluxurybroker@gmail.com. It would be an honor to earn your business.

 

Filed Under: Blog Tagged With: Austin, Austin Area Real Estate, Keller Williams Realty, Lake Travis, Lake Travis Fire Rescue, Lake Travis Real Estate, Lakeway, Mary Lynne Gibbs, The Gibbs Team

July 2, 2014 By Mary Lynne Gibbs

21828 Briarcliff Drive

Briarcliff.lakeviewYou don’t want to miss this extraordinary home at 21828 Briarcliff Drive because it offers a slice of heaven sitting atop a hill on the Lake Travis waterfront. This Spicewood, Texas lake retreat is currently listed for $1,450,000 and provides a variety of amenities for its new owner.

The clean lines, commanding details and extraordinary floor plan of this 3929 square foot home that was the design of architect, MJ Neal, attribute to the grand stature of this rare property on one of the deepest channels of Lake Travis.

Briarcliff.backWith four bedrooms, three and a half bathrooms, an office, formal living and dining room, remarkable views can be had from almost anywhere in this home…even the hallways and the massive iron and wood staircase have a view of the lake!!! In fact, each room and outdoor living area has been strategically placed for the ultimate view of Lake Travis.

Unique details include Maplewood and travertine tile that cover the floors of 21828 Briarcliff Drive and several vaulted ceilings capped with tongue and groove wood. Furthermore, many of the rooms have built-in desks, bookshelves and cabinetry to house a plethora of items.

Briarcliff.arialfrontAnother highlight of the location of this lake property is that it sits on .955 of an acre due to how far the land reaches towards the lake and Briarcliff Marina is right around the corner. However, a marina is not necessary for the owners of 21828 Briarcliff Drive since it has its own private boat dock with boat lift on the property.

Surprisingly, four fireplaces can be found in 21828 Briarcliff Drive! One of them separates the formal living and dining room on the first floor.   These two rooms are open to each other, as well as the kitchen and are situated with a wall of windows overlooking an outdoor entertaining area complete with another fireplace, outdoor kitchen, infinity pool, hot tub and living space. This home boasts approximately 2500 square feet of outdoor patio space. It’s absolutely incredible and an entertainer’s dream!

The kitchen is perfect for the most professional gourmet and is impressively put together with its travertine tile, granite countertops, Thermador appliances, sub-zero refrigerator, and miles of counter space. The extra-large island allows for more cabinetry, work space and seating, along with a comfortable spot to take in the Texas Hill Country views.

The third and fourth fireplaces can be found in the second-level master bedroom and bathroom, which again are both equipped with built-in cabinets for all of your clothes, personal items and necessities. The bathroom has an enormous walk-in shower, a jetted tub and a gorgeous double vanity.

Briarcliff.backoverviewAn office and another bedroom are located on the second level along with the master and each has fabulous views of the lake. The office is fitted with its own desk and bookshelves that are the envy of any executive. The work space is situated in front of windows for a picturesque outdoor scene.

Discover the two other bedrooms on the first level of 21828 Briarcliff Drive and find one of them having its own private entrance which lends well to those weekend guests during the summer season.

Briarcliff.boatdockIn addition to the homes many features, elementary school-aged children in this area are slated to attend the newest Lake Travis Elementary School #6 that is located in West Cypress Hills. Moreover, the Lake Travis Middle School will be moving to its new campus behind the Rough Hollow subdivision.

If you are interested in a private showing of 21828 Briarcliff or have other real estate interests, please contact Mary Lynn Gibbs at 512.431.2403 or austinluxurybroker@gmail.com. It would be an honor to earn your business.

Filed Under: Blog Tagged With: 21828 Briarcliff Drive, Austin Area Real Estate, Austin Real Estate, Briarcliff Marina, Lake houses, Lake Travis, Lake Travis Real Estate, Lakeway Real Estate, Mary Lynne Gibbs, MJ Neal, The Gibbs Team

April 16, 2014 By Mary Lynne Gibbs

Bella Colinas

Photo courtesy of Meritage Homes
Photo courtesy of Meritage Homes

Mary Lynne Gibbs and the Gibbs Team are very well aware that affordable luxury living is getting harder and harder to find in the Lakeway and Lake Travis areas.  Therefore, we wanted to make sure our clients, friends and neighbors knew about the neighborhood of Bella Colinas that is a diamond among the queens jewels.

Bella Colinas is a Meritage Homes community located just west of Highway 620 off of Highway 71 to the left on Vail Divide and is not far past NitroSwim.  In addition, the Hill Country Galleria is only approximately three miles away.

This new home community with prices ranging from the $300’s and up is still building out, but definitely selling quickly due to the high demand for real estate in the Austin area.

Bella Colinas is nestled among large trees and sits within the rolling Texas hill country.  The community is perfect for anyone who loves the outdoors and amenities include a community center, neighborhood pool, hike and bike trails, soccer fields, playground and park.

Additionally, some of the features for home sites are wooded lots, backing up to a greenbelt or hill country views.

Meritage Homes makes energy efficiency available in every home they build and are committed to providing their customers with energy and money saving attributes including spray foam insulation, Energy Star® Appliances, Energy Star® Programmable Thermostats. Low-E3 Vinyl windows, SEER 14 HVAC , dual-flush toilets and many more.

If you have any questions about Bella Colinas or real estate, please contact Mary Lynne Gibbs at 512.431.2403 or austinluxurybroker@gmail.com.  It would be an honor to earn your business!

Filed Under: Blog Tagged With: Affordable luxury living, Austin Real Estate, Bella Colinas, Lake Travis, Lake Travis Real Estate, Lakeway, Lakeway Real Estate, Mary Lynne Gibbs, Meritage Homes, The Gibbs Team

Footer

Broker License #502033 - Texas Law requires all licensees to give Consumer Protection Notice and Information about Brokerage Services