In this edition of How's the Market in Steiner Ranch?, I review a few of the monthly sales stats, give my interpretation of them, and then talk about my upcoming workshop entitled "How to Protest Your Property Taxes."
If you prefer to read instead of watch, here the transcript:
Greetings! I'm Craig Smyser with RE/MAX Capital City. Welcome to the May 2012 edition of "How's the Market in Steiner Ranch." In addition to looking at the current statistics, I’ll talk about the upcoming workshop about protesting your property tax appraisal. In April, 28 homes closed in Steiner Ranch which was up 87% from April 2011. Before you get too excited, I must mention that last April was unusually low. When I look at the numbers for April in prior years, this year is very comparable to them. Comparing only resale homes, sales were up 136% from 11 to 26 homes. Keep in mind that many new construction homes are not listed in the MLS so I cannot provide accurate data on new construction numbers in Steiner Ranch. From this point forward, all the stats quoted are for resale homes only. When looking at small sets of data such as one month in Steiner Ranch, I don’t like to compares prices from one year to the next because they can be volatile. For the record, the average price of a resale home increased 9.8%, the median price increased 8%, and the average price per square foot increased by 2.8%. We can smooth these numbers out to get a better picture of the market by looking at the first four months of this year compared to the first four months of last year. Comparing these time frames, the average price was down 6.9%, the median price was up 3.7% to $350,000, and the price per square foot was down 1.7% to $119.53. This shows a market that is pretty stable, but I expect the next few months to decisively change to show a market of modestly increasing prices. Last month, the sale prices in Steiner ranged from $253,000 to $590,000. The number of available homes in March was 103, up 1% year-over-year and 16% month-over-month. While the number of available homes under $345,000 is up to around 22% of the available homes, it is still quite low considering that half the homes in Steiner Ranch sold below that price last year. The average sales price to list price ratio was 97.9% while the average sales price to original list price was 96.5%. When these numbers are so close, it means that very few homes required a price reduction in order to get a contract. For homes that closed in March, the average days on market was 50. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood (click here).
Once again this year I am leading a workshop entitled, “How to Protest Your Property Tax Appraisal.” Last year Travis Central Appraisal District experimented with a regression analysis theory to value homes in Steiner Ranch. I wasn’t a fan of that method so I am happy that they have reverted back to the old method. However, that means that everything I taught last year doesn’t apply this year, so it is important to attend even if you came last year. The workshop will be held on Thursday, May 24 at 7:00pm at the Towne Square Community Center. As always, those who attend will receive comparable sale information which can be used to protest.
If you have any real estate related questions, please don’t hesitate to call me at 512-735-7200 or email me at Craig@RealEstateInAustin.com. Thanks for watching “How’s The Market In Steiner Ranch.”
RE/MAX Capital City is once again collecting new or gently used books, puzzles, and crayons for Dell Children's Hospital. In addition to having books available at the hospital for kids to read during their stay, they also like to send a few books home with kids who don't have many books of their own. Last year we collected almost 1600 books and our goal this year is to top 2000. Donations accepted now through May 11. I am happy to pick up donations from your home or office. Contact me via email, online form, or at 512-735-7200.
It took me a while to get an answer from Travis Central Appraisal District (TCAD), but I finally found out how Steiner Ranch was appraised this year. As some quick background, TCAD experimented in Steiner Ranch last year by using a regression analysis to value properties instead of the market comparable approach that had been used previously. The gentleman who had been brought in to spearhead this initiative was let go by TCAD earlier this year so I wondered what that meant for the valuation methodology used in Steiner Ranch. I placed numerous calls, talked to many folks, and left messages for others. Today, I received a call from James Dunham at TCAD and he informed me that the regression analysis is gone and Steiner Ranch was valued using the methodology that had been used for years. Personally, I think this is good.
I will again be offering my 'How to Protest Your Property Tax Appraisal' workshop in Steiner Ranch this year. It will be held on Thursday, May 24th at 7:00pm at the Towne Square Community Center. More information can be found here.
If you are looking to buy or sell a home in Steiner Ranch, contact me via email, online form, or at 512-735-7200. To view homes currently for sale in Steiner Ranch, click here. To find out about market values in Steiner Ranch, watch the latest in my video series, How's the Market in Steiner Ranch.
Originally announced more than two years ago, the Schlitterbahn in Cedar Park is getting closer to reality. Financing the project has been the stumbling block but it appears that a breakthrough is close at hand. Community Impact News has the story at http://impactnews.com/articles/schlitterbahn-near-a-new-deal/.
For even more information, including a virtual tour, school links, room sizes, and plenty of photos, click here. To request a showing before the house hits the market, contact me via email, online form, or at 512-735-7200.
As always, if you purchase one of my listings, you can use my moving truck for free.
With Quinlan Crossing and the Trails at 620 getting their first few tenants, it is a busy time for new business openings in the Four Points area. Great Clips opened last week (story here). Yesterday, Schlotzsky's had their ribbon cutting after opening on Saturday (photos below). Schlotzsky's is located at the Trails at 620 which is across from Concordia University Texas (on 620, of course). Being so close to the university, they were able to get a big crowd to turn out by offering free sandwiches for a year to the first 100 customers. The first students started lining up at 10:00pm on Friday night (photos below).
This location has not only Schlotzsky's sandwiches (and the rest of their regular menu), but also a Cinnabon and Carvel Ice Cream. While many of the Schlotzky's locations have Cinnabon, this is just the third location to have a Carvel. Unique even among the three of those is that in this one the ice cream is self service. While most Schlotzsky's are franchise stores, all of the ones in the Austin area are corporate-owned as this is where the restaurant chain started and is headquartered. This restaurant has their newest design concept and will actually be used to train new franchisees.
As a member of the Four Points Chamber of Commerce, I was invited to the ribbon cutting. I had an opportunity to sample sandwiches, Cinnabon, and ice cream -- all of it was very tasty. Their sweet tea was very good, too. They have free wi-fi, too. The Schlotzsky's website is here and the page for the Four Points store is here.
If you are looking for a home in the Four Points area, check out some of these neighborhoods. Of course, if you have a house to sell, I can assist you as well.
The Great Clips in Quinlan Crossing opened on April 13th. I needed to get a haircut over the weekend so I was able to try them out. There were a couple of folks ahead of me, but since they had several stylists working, the wait was short. I was pleased with the haircut and the experience. They are running a grand opening special so haircuts are just $4.99 - can't beat that! The normal cost is $14 ($11 for kids & seniors).
Although I did not utilize it for this appointment, Great Clips offers online check-in so you can see how long the wait is and put your name on the list ahead of time. You can access this service at www.GreatClips.com or download their phone app.
As a side note, when I went to get my haircut, I also needed to pick up some groceries so I was able to run right next door to Randalls. A month ago, I would have had to leave Steiner Ranch, but with Quinlan Crossing, it was very convenient. I'm looking forward to more businesses opening so close to home.
This 3 bedroom, 2 1/2 bath home on a cul-de-sac will be on the market by April 20. To request a showing before the house hits the market, contact me via email, online form, or at 512-735-7200.
This 3 bedroom, 2 bath home has a big family room and a covered patio. It is just a few blocks from Plain Elementary School and the Benbrook Ranch swimming pool. 1115 Clayton Drive, Leander, TX 78641.
For even more information, including a virtual tour, school links, room sizes, and plenty of photos, click here. To request a showing before the house hits the market, contact me via email, online form, or at 512-735-7200.
As always, if you purchase one of my listings, you can use my moving truck for free.
In this edition of How's the Market in Steiner Ranch?, I review a few of the monthly sales stats, give my interpretation of them, and then talk about the newly formed Steiner Ranch Neighborhood Association.
If you prefer to read instead of watch, here the transcript:
Greetings! I'm Craig Smyser with RE/MAX Capital City. Welcome to the April 2012 edition of "How's the Market in Steiner Ranch." In addition to looking at the current statistics, I’ll talk about the recently formed Steiner Ranch Neighborhood Association. In March, 22 homes closed in Steiner Ranch which was down 37% from March 2011. Comparing only resale homes, sales were down 40% from 25 to 15 homes. Keep in mind that many new construction homes are not listed in the
MLS so I cannot provide accurate data on new construction numbers in Steiner Ranch. From this point forward, all the stats quoted are for resale homes only. Of the sales in March, 1 was a foreclosure and 1 was a short sale. As always, when we are looking at small sets of data such as one month in Steiner Ranch, I don’t like to compares prices from one year to the next because they can be volatile. For the record, the average price of a resale home decreased 12% to about almost $390,000 and the median price increased 22% to $420,000 over last March. The average price per square foot slid by 4.7% to $118. Last month, the sale prices in Steiner ranged from $225,000 to $688,000. The number of available homes in March was 89, up slightly both year-over-year and month-over-month. We are beginning to see the number of available homes increase a bit which is giving some breathing room for buyers. While the number of available homes under $345,000 is up to around 20% of the available homes, it is still quite low considering that half the homes in Steiner Ranch sold below that price last year. The average sales price to list price ratio was 97.5% while the average sales price to original list price was 89.7%. For homes that closed in March, the average days on market was 66. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood (click here).
In February, the Steiner Ranch Neighborhood Association was formed. This is not a Home Owners Association, but a distinct and separate entity. It encompasses Steiner Ranch and several smaller neighborhoods around it. While an HOA is mandatory for all members within its boundaries, a Neighborhood Association is voluntary. Although it serves a number of purposes, I’d like to highlight one that is specific to real estate and that is to monitor and influence development. Because the SRNA is registered with Travis County and the City of Austin, it is notified as part of the permit process for any development within its boundaries. This alone will help us avoid the situations we’ve seen lately in which we were surprised to hear about apartments and the storage facility. It doesn’t mean we can always stop unwanted development, but it certainly gives us a chance. The goal of SRNA is not to stop development, but to give residents a seat at the table to influence decisions. Case in point right now is that Taylor Morrison is considering a plan to put 180 duplexes across from Randalls in the spot in which they had previous planned the storage facility. This will require rezoning as residential is not permitted in this area at this time. SRNA now gives Steiner Residents an opportunity to effectively voice an opinion on this rezoning. At this point, there are about 150 members of the SRNA. At $50 a year, I feel this is a worthwhile investment and I have joined. A key to the success of SRNA is the political influence it can have. The first question asked of a neighborhood association by any member of a government board is always “how many members do you have?” They are essentially asking “How many voters might I lose if I take a position contrary to your group?” The more of us that join SRNA, the more influence we can have on issues that affect us. I invite you to find out more about SRNA at www.SteinerRanchNA.org.
As always, if you have any questions, please don’t hesitate to call me at 512-735-7200 or email me at Craig@RealEstateInAustin.com. Thanks for watching “How’s The Market In Steiner Ranch.”
