Amazing Eichler Revival New Construction

If you love Eichler but want it newer, larger and I dare say better, check out Austin City Homes 5-acre masterpiece in the west Austin hill-country.  An architect and I visited Dan at the house this last week for a private showing and I was flat-out impressed.  The attention to detail, the craftsmanship, the materials sourcing, the lot orientation, the impeccable Eichler-ism, the lush landscaping, the proportioning and scaling, oh, and it has two outdoor showers…meee-ow.  Here is a link to the listing: http://www.austinmodernliving.com/mls-6781079-13100-trails-end-78620-mcm-mid-century-home-austin.htm#1 

While you need a booklet to go over all the construction, energy efficiency, features and design details of this wonderful home, here’s a quickie over-view: massive 5-acre totally private lot with hill-country views and tons of room for a pool, floor to ceiling glass walls, 6 foot overhangs (see my additional photos, awesome!), elegant epay wood decking, 5 beds plus a guest casita, indoor and outdoor fireplace, game room and exercises room, office, acid sealed-waxed-and-honed concrete floors (hot), custom mahogany Eames-style cabinets, two-10-foot Golden Travertine kitchen islands (imported from Pluto I figure), double stainless steel ovens, 36″ gas downdraft cooktop, walk-in pantry, breakfast nook, open-ultra-gourmet kitchen, galvalume standing seam metal double-lock roof, well, I could go on and on.  What you should really know about this house is that it IS AVAILABLE and you can get it for under $200/sf…which, in Rollingwood, this house would easily be $3 to 4 million…EASY.  Excellent MCM.  I mentioned the two outdoor showers, right?  At the time of this posting the house is available at just $650,000.  Call me at 512-413-0870 for a showing, I have a ton of extra photos if you’re interested.

www.AustinModernLiving.com

AIA Austin Premier Party – The Best House on Earth?

I’ve seen a lot of great architecture, but nothing like this.
Last night the AIA held their annual Premier Party for this year’s AIA Austin Homes Tour.  The house chosen for the party was maybe the perfect house. It was flawless. Our small entourage spent most of the evening searching for the smallest of imperfections, looking for off-scale dimensions, looking for tacky material choices, looking for typical lazy-Austin-but-still-luxury-home-craftsmanship, looking for even a tiny mis-directed grout line behind a toilet…but we were left empty handed…this was the perfect house.  Saddend by our disappointment, we put away our rulers and levels and humbly returned for more artichoke dip and lamb chops.  Designed by Patrick Ousey, AIA of FAB Architecture this houses is truly…perfect.  Most 8500 square foot homes in West Austin lack the right scale and massing to make the home feel inviting, elegant, gracious, austere and comfy all at the same time.  From material choice, to scale, to execution, this house is as perfect as I’ve ever ever seen…and I want to to live there.   Will the rest of the AIA Austin Home Tour live up to this magical home?  We’ll see…

Tarrytown vs Highland Park / Beverly Hills in Austin

I was recently asked why Tarrytown home values are so high compared to essentially the same 3000 square foot house just north of there in the Beverly Hills / Highland Park area north of Camp Mabry.  Great question, here are my thoughts:

I think it’s mostly a matter of prestige and luxury brand recognition first, then proximity to downtown second.  The schools are essentially neck and neck.  Highland Park area is Highland Park Elementary and Tarrytown is Casis Elementary – both rated Exemplary by the Texas Education Agency.  The two high schools, Austin High School and McCallum High School are both equally ranked as Academically Acceptable.   

 

Tarrytown is just higher cost real estate…the average listing in Tarrytown is about $900k and the average listing in Highland/Beverly is $725k, like you said, for about the same sized properties (avg 3000 sf).  If you look even further north, the area between 2222, Spicewood Springs, Mopac and 360, the average property listing goes down to $585k.   When you get over to areas like Davenport, Eanes, etc you start getting significantly larger homes (avg 4000 sf) plus the rock star status Eanes school district, newer homes, etc and so the real estate goes back to about Tarrytown prices per square foot (+$300/sf).

 

Again, I think it’s mostly the Tarrytown luxury brand name recognition…the majority of the people who call me to look for a house start with a popular neighborhood in mind: Travis Heights, Hyde Park, Spanish Oaks, Bouldin, Zilker, Eanes ISD, Rollingwood, Barton Creek….I think there are just fewer people specifically looking in Beverly Hills / Highland Park.  Too bad since you can get so much more for your money there!

 

The fact that there are 5 active listings on Lucas Lane right now is an unfortunate coincidence for those trying to sell there. 

 

 

Nationally Televised Commercial – Killer Kitchen Needed

I was contacted by a TV commercial producer today who is going to shoot a nationally televised commercial and needs a killer modern Austin area kitchen to shoot it in.  It’s a one day shoot to showcase a new kitchen product. They will film on October 2nd and could pay up to $1500 fee for the use of the house and they will list the owner as an additional insured.  Send me photos and your contact info if you’re interested.

8500 Red Willow, Oak Hill Modern House, MLS 6785832, austin modern house

The big question is why has this very tastefully Austin modern new construction home not sold yet?  The price is right ($399,900).  The view of the west Austin hill country is impossible to beat.  It’s in a growth corridor at the Y at Oak Hill and right next to Covered Bridge which is nice.  The home seems very well built, lots of nice features, tastefully appointed kitchens and baths.  Heck, it even has an elevator.  Did I mention the great views?  The challenge with this house isn’t the house, it’s the lack of other newer construction artist inspired homes in the area.  What’s going on with the lots on either side of this house?  Will they be modern?  Will they “fit” when built out or will they be low-rent production houses?  Will they guy across the street fix his garage door?  No one likes to buy the most expensive home on the block, but if you are inclined to (think east Austin) then you just want to make sure that you’ll have some company soon.  Enjoy the photos below and let me know if you want to see my field notes, more photos, the floorplan, etc.

 

View the first 13 of 58 photos

Oak Hill near Covered Bridge

Uber Modern Downtown View – Not on MLS $3.25mil

Here’s an amazing under construction uber-luxury-modern house in Rollingwood with a downtown view from the rooftop terrace.  Construction completion should be around November or December.  The builder has a good reputation for luxury modern homes, ditto for the architect.  This is an entertainer’s dream house, cool, sleek, open, light, sophisticated, and all just a few minutes to downtown.  It’s also in the Eanes ISD and is on a three-quarter acre lot with tons of room for outbuildings, guest casita, play courts, workshops, etc.  No pool is currently planned for the house.  This is a true Austin luxury home.  At the time of posting the property is not on the MLS.  I’m making a few photos available but limiting info (address!) since I am already representing a potential buyer for the property and not looking to create competition for my VIP buyer!

Uber-Luxury-Modern not on MLS

Uber-Modern-Luxury Home

Hyde Park area not on MLS $530,000

Looking for a great remodel in the Hyde Park area of Austin?  Here’s an amazing remodel on a super-huge lot.  This property isn’t on the MLS yet and probably will never make it to the MLS per the owner’s preference.  The remodel includes lots of green and energy efficiencies to satisfy most green buyers.  The yard is ginormous, the current owners have their Airstream in the back that they use for guests and parties.  There is a green house, a small workshop and the band sometimes practices in the detached 2 car garage.  This is a great find in a great neighborhood.  The owner doesn’t want a ton of people snooping around so no address is posted…just call me at 512-413-0870 and I can show it to you.

Virtual tour with excellent musak
Tons of pictures on flickr (sans musak)

Hyde Park area remodel

Austin Luxury Homes New Construction Sales Price Ratios

So, what kind of deals can you negotiate for Austin luxury homes?  There’s good news for those buying luxury new construction homes in the Austin hill country this year.  While there was a July bump in pendings and solds for luxury new construction homes, there is still plenty of inventory available.  Areas like Spanish Oaks, Seven Oaks and Barton Creek Calera Drive have lots of choices for buyers.  On average, new construction luxury homes (over $1 million list price) are closing at 95% of list price or about $106k savings on average.  There were a couple of recent closings where the buyers saved over $300k vs the list price…not bad!  The average days on market for these Austin luxury homes was 336 days on the market.  I have a full breakdown PDF if you’re interested, contact me.

Mortgage Market Recap by Martin Ochs

The following was submitted by Austin mortgage broker Martin Ochs – 512-784-5038 – email Martin

 

MARKET RECAP If misery loves company, then few of us are lonely these days, at least if last week’s spat of economic doom-and-gloom news is any indication. Where to start? Well, foreclosure filings rose 14% in the second quarter of 2008 from first quarter totals, according to property-information firm RealtyTrac. More troubling, foreclosures are spreading beyond so-called bubble states – Nevada , California , Florida , Arizona – and beyond economic-disaster states – Ohio and Michigan . RealtyTrac says that 48 of 50 states and 95 of the nation’s 100 largest metro areas experienced year-over-year increases in foreclosure filings in the second quarter. More foreclosures will pressure inventory levels on existing homes, where sales continue to slow. Indeed, sales of existing homes slowed in June and hit their lowest level in 10 years, dipping to an annual pace of 4.86 million units, down 2.6% from a pace of 4.99 million units in May, the NAR reported. New homes sales were also languid, though less so. Sales of new single-family homes dropped 0.6% last month to a seasonally adjusted annual rate of 530,000 units, which is actually better than most expected. The “smart-money” was betting that sales would fall to a 500,000 annual rate. Unfortunately, homes that are for sale will be more costly to finance. Mortgage rates surged last week to their highest levels this year. Reasons offered for the surge include rising inflation (indicated in last week’s jump in consumer prices) and investor fears over Freddie Mac’s and Fannie Mae’s future. Whatever the reasons, the prime 30-year fixed-rated mortgage averaged 6.77%, the prime 15-year fixed-rate mortgage averaged 6.32%, and the prime 5/1 adjustable-rate mortgage averaged 6.48 percent last week, according to Bankrate.com’s survey. There was one morsel of good news in last week’s cornucopia of bad. Consumers are feeling a little more chipper. The University of Michigan ’s consumer-sentiment index rose five points to 61.2 in July, after hitting a multi-year low in June, lending some hope that an improving consumer outlook will offer housing some support.

 

Economic Indicator	Release Date and Time	Consensus Estimate	Analysis
Consumer Confidence (July)	Tues. July 29, 10:00 am, et	50 Index	Moderately Important. Falling energy prices could lift consumer confidence.
Mortgage Applications	Wed. July 30, 7:00 am, et	None	Important. Higher rates and stricter lending standards continue to slow application activity.
Employment Cost Index (2 nd Quarter)	Thurs. July 31, 8:30 am , et	0.7% (Increase)	Important. Employment costs are expected to rise within inflation-friendly limits.
Gross Domestic Product (2 nd Quarter)	Thurs. July 31, 8:30 am , et	2.2% (Annualized Increase)	Very Important. Despite dour prognostications of recession, the U.S. economy continues to grow.
Employment Situation (July)	Fri. Aug. 1, 8:30 am , et	Unemployment Rate: 5.6% Hourly Wages: 0.3% (Increase)	Very Important. A lower unemployment rate coupled with continued GDP growth could portent an improving economy.
Construction Spending (June)	Fri. Aug. 1, 10:00 am, et	0.5% (Decrease)	Moderately Important. Lower residential construction spending continues to pressure overall spending.

 

Too Little, and Maybe Too Late A lot of ink and pixels were dedicated to last week’s House vote to offer $300 billion in assistance to troubled homeowners and to throw government support behind Fannie Mae and Freddie Mac. The bill has won endorsements from key senators in both parties and convinced President Bush to withdraw his long-standing veto threat. Major provisions of the bill for mortgage markets include permanently increasing the cap on the size of mortgages guaranteed by Fannie Mae and Freddie Mac to a maximum of $625,000 from $417,000. It would also raise the FHA maximum loan limits for high-cost areas to $625,000. For first-time home buyers, the bill includes a tax refund worth up to 10% of a home’s purchase price but no more than $7,500. That said, the refund really isn’t a refund – it’s more of an interest-free loan, because the “refund” has to be repaid over 15 years in equal installments. The bill will likely give the mortgage and housing markets an immediate boost, but let’s not get carried away with the back-slapping. Artificial stimulus packages are fickle; you can’t be assured that what you want stimulated is actually being stimulated. Besides, markets, if left to their own devices, eventually get it right, though sometimes not as quickly as we’d like. But when they do get it right, they tend to get it right on a more permanent footing.

Submitted by Austin mortgage broker Martin Ochs – 512-784-5038 – email Martin

Modern house off Cuernavaca, Eanes ISD, Austin Lake Hills

Very cool 3 bed 2 bath hip modern houses near Cuernavaca in the Austin Lake Hills community in the Eanes ISD.  This is a new construction property and you can still pick out selections.  Cuernavaca is home to more and more modern homes which is great for the neighborhood which can have challenging looking spots. This builder has two homes right next to each other, currently listed at about $459k.  The homes are built green with the option of solar panels on the butterfly roof.  Call me for the floorplan PDF. 
There are currently 16 lots available for sale on this street, most of them slated for modern building, but not all builder restricted.  Right now you can pick up 8 of the lots as a package.  The lot prices are $90k to $115k…most are very flat and buildable.  The curbs and utilities just went in at this Lake Hills/Cuernavaca hidden enclave.  This is a great opportunity to build a spec house, hold the lots or build a dream house.  Lots are up to .56 acres, wooded and perfect.  Call me for details 512-413-0870.

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