EAST Interview: Kat Murph of Vertallee Letterpress
Real estate is always unpredictable, but houses are sitting on the market a lot longer now than they were last year and sellers must be nervous. Negotiate like a Pawn Star: offer low and go up slow. Sellers (and your broker and their broker) may not like it, but most will come back somewhere in the middle. None will throw away your number.
Today's Hot Real Estate Listings post is on Burnet between 45th and 2222. Good access to a lot of interesting retail (e.g., great restaurants without a wait for a table (e.g., Maru)). Parts of Brentwood, Allandale and Rosedale. It's like living in a Billy Joel's dream, but hotter. A selection from the many interesting houses nearby on the market now:
2 bed 1 bath at 1306 Harriet. 1,076 sqft for $269,000. Love the old limestone exterior, wood trim and bathroom tile. Good backyard for a party. Living on a cul-de-sac imposes externalities on your neighbors, but as they say in Allandale "baisez les voisins."
Duplex at 5504 Jeff Davis Ave. 3 bedrooms in one half, 2 in the other half. 1 bath in each. 2,493 sqft total for $319,777. A pool seems more like a liability than an asset, but this summer probably caused some people to reconsider. Broker website is lame, but more pics here. Plus, how can you go wrong living on a street named for the least memorable guest on Whose Line Is It Anyway?
2 bed one bath at 5519 Montview. 1102 sqft for $299,840. Half flipped? Creamy renovation on the inside, clean original limestone on the outside. Trunk hit hard like Kimbo Slice.
Bonus listings:
3 bed 2 bath at 5706 McCarthy. 2449 sqft for $299,000.
3 bed 3.5 bath at 2308 Shoalmont. 2775 sqft for $614,500.
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Do they speak French in Allandale? Let's hope not.
Worth noting here that "low" is a relative term in Austin. In the Central Corridor, you'd be hard pressed to find a neighborhood where the average home is selling for less than 90% of list price. And in July 2009, the Austin metro area had more houses sell than in July 2008. That's the first month-on-month increase we've seen this year. We are lucky to live in a market that reacts moderately to the economy.
By what standards is a quarter million "cheap"?
Californian-standards
Rich lawyer standards.*
*Just kidding Shilli, although sometimes I think you're out of touch with most folks with regard to housing costs.
I try to mix it up, but I can only see the world through my own eyes. Plus, I never said these houses were "cheap" - I said they were "hot" and I stand by that. I understand that different people are going to live in different neighborhoods based on their preferences and economic situation. If I had ~$300k to spend on a house, this is a neighborhood I would consider. That isn't the position I am in, but I still think it is interesting to see what is for sale there. I'd take any of these houses over, say, this one:
http://www.mlsfinder.com/tx_actris/greataustinproperties/index.cfm?action=map_listing_detail&property_id=6470631&searchkey=760f4b85-e6fe-4488-a760-15a545111600&npp=10&sr=1
All kidding aside, I'm glad to see Hot Real Estate Listings back on Austinist. Keep up the good work.
FTR for all my defense of the 'burbs (nice house in Leander BTW) I live in an 1800 sq ft bungalow which was built in 1934 is less than 2 miles from my office. :) I prefer the convenience of living close to work, shopping, and entertainment but there is a huge trade-off in terms of space and amenities when compared to newer homes. There are days that I think about giving it all up for some decent closet space and a master suite.
Jon, if you think you are going to get a ready-to-live-in house in Central Austin for less than $250 or thereabouts, you crazy, buddy. It's all relative.
South Burnet? Is that near East Allandale?
Kenneth, all but Shoalmont and Montview are in Brentwood. The duplex on Jeff Davis seems like a good price, though Shilli's right about the pool -- not only with regard to liability, but it could end up being a maintenance nightmare.
I love this column! Is it back to stay?