Despite high quality of life in Central Texas, say Realtors, Austin area suburbs are still experiencing a buyer's market. Hit by the technology slowdown, Austin bedroom communities and favorite lake area are still recovering.

Round Rock

"Round Rock's market has always strayed a bit behind Austin's, though not by much," say Realtors Rob and Carolyn Abbott. "So the slowdown we've seen in Austin permeates this market as well. There is not any reason to change our characterization of this market as a "buyers market" as well, especially with the ongoing efforts of new homebuilders to market and (continue to) build their new homes.

"This news is not all bad, keep in mind that closed volume is up from the previous four years," say the Abbotts. "Buyers find themselves in the lucky position of having many good homes to choose from, the lowest rates in years, and sellers eager to sell due to longer time on the market."

Observe the Abbotts, "New home builders continue to offer various aggressive incentives such as paying points, free upgrades, Realtor bonuses, etc., which can make it difficult for the resale market to compete. Despite all this, certain homes (which show well and are priced right) can and often do sell quickly, as demonstrated by a recent listing we took--the highest priced in the area--and sold in only seven days. And remember, homes are selling in greater volume than in previous years, there are just more of them."

Bee Caves

"Bee Caves is an area that is undergoing great growth," says Realtor Alice Newman. "It's located around the area of Hwy. 71 and RR 620. In the next couple of years there should be several hundred more homes situated there along with the private golf course that is already built. Also plans for a Galleria Mall are underway as well. It will have a seven-story hotel, and Galleria style shopping in the beauty of the Texas Hill Country. Also, check out the Spanish Oaks Golf Course and lots that are for sale in the $100K-$300K range that are truly breathtaking. There are several more developments going in also with golf courses, so we are in for some exciting times."

Lake Travis

"Once you drive down Highway 71 and see the hills and valleys or down Ranch Road 620 and see the sailboats out on Lake Travis, you'll wonder what took you so long to get here," says Newman. "Lake Travis is a beautiful lake area where you can still look out your window and see a doe and her fawn nuzzling while you're having your morning coffee or a fox dashing across the street from your house on your way out of the driveway. You have the culture of city-living close by while being a short 30-minute drive home."

She cautions, "Thanks to all the rain we've had the lake is full to the brim. Unfortunately some folks down south toward San Marcos got too much rain combined with being in too low of an area and some have suffered greatly. Our hearts go out to them. That's also an important reminder to check to see whether you are in a flood plain area before buying or leasing property. But remember, there are still some great lots and great homes in the Lake Travis area available with awesome views."

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Published: October 18, 2002

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