Lakes and their significance in the Austin, Texas real estate market today.
Despite the national housing slowdown and negative news headlines in many neighborhoods, the Austin Real Estate market continues to be healthy. Austin's waterfront properties have always been in demand and this year is no exception. Gorgeous and unique lakes which meander through the center of Austin, and which make Austin the jewel of Texas, will be increasingly attractive to buyers and continue to be in demand.
Last weekend, I took a bus full of my clients to Rough Hollow, a new gated development which offers many luxury homes with views of Lake Travis, along with convenient marina and small airport access. My clients toured the 6 homes which were staged by the Austin Builder's Association for their annual Parade of Homes. These spec homes are priced from $2.4 to $3.8 million. Within the 3 weeks' time that the houses were open for the parade, four of those homes went under contract. I know that my most recent Lake Travis listing drew quite a lot of traffic - people love waterfront property and one of my biggest sale was a lakefront home.
There are approximately 13,000 acres planned for new development on the North and South shores of Lake Travis, mostly targeted for high end development, of course, because of the cost of land and development. Some of these subdivisions will offer water frontage and others lake views.
There is always demand for unique properties which offer great locations. The reason Lake Travis is attracting that much development is because there is raw land which surrounds Lake Travis with gorgeous lake and hill country views. There is no undeveloped land around Lake Austin or Town Lake available for new construction. Also, prices on Lake Travis are lower for a waterfront lot on Lake Austin, you will pay over a million dollars whereas the same land on Lake Travis could be had for less than $500K. One of the reasons for lower prices is that these Lake Travis subdivisions are at least a 45 minute commute from downtown Austin, whereas most of the developments on Lake Austin and Town Lake are less than 20 minutes from downtown.
The Highland Lakes is a chain of lakes along the Colorado River, located in the Texas Hill Country and starting 65 miles northwest of Austin, coursing all the way through downtown Austin. Individually they are Lake Buchanan, Inks Lake, Lake LBJ, Lake Marble Falls, Lake Travis and Lake Austin.
Twenty-two miles long, Lake Austin is a constant level lake with 1,830 acres of gorgeous views, grounds and parks, and commercial and private properties. It meanders through the hills of west Austin and, at its widest point, is only 1300 feet. Mansfield Dam separates Lake Austin at its north end from Lake Travis (and the water at this end of the lake is damn cold); at the south end, Tom Miller dam creates Town Lake (recently renamed Lake Ladybird). Because of the dams, you can't go from lake to lake by boat. Lake Austin is my favorite because it is a very pretty, constant level lake, with clear water and beautiful scenery
Approximate Location Boundaries: The Highland Lakes is a chain of lakes along the Colorado River, located in the Texas Hill Country and starting 65 miles northwest of Austin, coursing all the way through downtown Austin. Individually they are Lake Buchanan, Inks Lake, Lake LBJ, Lake Marble Falls, Lake Travis and Lake Austin.
Location Characteristics: The Highland Lakes is a chain of lakes along the Colorado River, located in the Texas Hill Country and starting 65 miles northwest of Austin, coursing all the way through downtown Austin. Individually they are Lake Buchanan, Inks Lake, Lake LBJ, Lake Marble Falls, Lake Travis and Lake Austin.
About Roya Johnson:
"As a RealtorŪ in Austin, Texas since 1983 I have earned my stripes by offering my clients and customers royal service with integrity and tireless work ethic. I take candor in my approach and I feel it is a must for selling real estate. My clients and customers trust me with their largest investment and I must earn their trust. My goal has always been 100% satisfaction of my clients and customers. "
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
