Austin REALTOR® : Garreth Wilcock 512 694 8873

The Springs at Walnut Creek is David Weekley's newest neighborhood in North Austin. It is 15 minutes on I35 from Downtown and close to major North Austin employers like Samsung. It's an interesting alternative for buyers who love the style of homes, and who have been priced out of Mueller.

While a Garden Home at Mueller might start at $325,000 for a 2 bedroom 1600 sqft home that is built on a zero lot line (which means the homes are 5' apart, and one side of the home has no windows as it is a firewall), prices at the Springs start at $211,000 for the Ashcroft - a 1700sqft 3 bed home that sits on a typical Austin new home lot.

So I anticipate that buyers looking for an energy efficient new home will consider moving North to the new community and enjoy much more home for less money. My view is shared by the builder who has moved one of their former Mueller sales staff up to the new neighborhood. The model homes are all but complete and the furniture was delivered last weekend which will make the models ready to visit for the holidays.

Mostly people start to search online for homes over the holidays, though rarely venture out to go home shopping in person. The floorplans are up, and the first homes have already sold - if you want more info on the homes out there, and want to know some pitfalls to avoid when working with a new home builder, give me a call on 512 215 4785.

HEB is coming to Mueller - it's set to headline at the market district at 51st and Berkman sometime in 2013. It's been eagerly awaited by residents since the inception of the development.

The fundamentals of real estate say that buying in the way of development is good for appreciation. So if you bought a small home next to the site of a multi-billion dollar retail park like the Domain, you might expect that more people would like your home over time as the number of jobs and amenities increased. So too you might expect a HEB to be a good amenity for a neighborhood - especially if it was a super energy efficient LEED certified bells and whistles store like that planned for Mueller Austin.

Of course the new store is developing as the Dell Childrens' Hospital is growing another wing, and other medical office buildings are being built. so progress is coming to Mueller in truck-fulls. Which is one reason that there are 221 new homes under construction in 2012, along with the projected ground breaking of the Austin Children's Museum in Spring 2012.

So what does this mean for house prices at Mueller? Read more at my sister blog. You might be surprised to see my opinion. 512 215 4785

The Mueller community is notable amongst Austin TX neighborhoods as it is vocal and active. Nothing unusual in that perhaps - look at Hyde Park - but people have only been living at Mueller for around 4 years. There are several different forums (ok fora for the pedantic) in which Muellerites communicate, and here is a quick run down of how to use each one.

MuellerAustinOnline.com is Mueller Austin's members only website sponsored by the Property Owners' Association - and is reserved exclusively for residents of the neighborhood. It has information on forms to use for property modifications, who to contact in case of emergency, and the events that are sponsored by the master developer are featured in the calendar. The POA is still run by the developer, and isn't planned to be handed over for some years yet - until a majority of homes are occupied.

MuellerCommunity.com is the grass roots website set up by Kevin - a young man who had planned on moving here but hasn't. Yet. He has a free solution for neighborhoods to use to facilitate communication between neighbors and local government. The URL redirects to a CitiCite site, and you can join one or more neighborhoods there, including ours.

MuellerAustin.com is the developer website which has had substantial upgrades in 2011. It has a list of homes for sale, information about commercial and residential real estate and now has a journal which keeps you up to date with events and interesting meetings coming up. Of course, it is a little slower moving than a blog perhaps (the whole site) but it is really a good starting point to get official news releases. Head over to homesAtMueller.com if you want the rumors and opinion!

 

Garreth Wilcock is a Realtor who specializes in Real Estate in Mueller Austin TX, and loves being part of the community there.

This Meritage home at 2128 Antone St is coming soon!



The popular Richards floorplan is at the sweet spot of Mueller homes for sale - it is below the median price point of around $365,000, and is a three bedroom, two and a half bathroom yard home.This is one of the scarcest and highest demand combinations in the development, and the last one that came on the market on McCloskey Street didn't see the first week on market before an offer came in.

So why this home? It has a double detached garage, which backs up to an alley, which means both a shaded breezeway between house and garage, and all you can see from the porch at the front of the house is other homes - no more staring at garage doors from your doorstep.

The home has a fully fenced yard, so pet lovers can rest knowing that Fido can get out to stretch his legs if you don't have time to walk the 200 yards to the 5 mile hike and bike trail that runs through 140 acres of parks and public spaces. Good news for dog lovers!

Also popular is the master bedroom which is very generously sized and conveniently on the ground floor. The bathroom has a separate tub and shower, in addition to double vanities with a lush upgraded granite and under mount sinks.

Downstairs are the dining, kitchen and living rooms, the half bath and a good sized utility room. Close enough to the master closet for laundrym but not so close that your dryer es going to keep you up at night.

Upstairs are two bedrooms and a full bath, so you have plenty of options for family, guests or a study. Or two.

The home is 1544sqft per TCAD and the listing price will be $319,900.

If you want to get to see it at the preview party, call Garreth Wilcock at Sherlock Homes Austin - 512 215 4785. To see the floorplan go to homesAtMueller.com and search for Meritage 1907.

While writing about the Affordability Gap for homes at Mueller Austin Texas, I realized it would be a good idea to recap on how much home a buyer can afford and relate this to the Austin Median Family Income (MFI).

MFI is measured by metropolitan area by the Department of Housing and Urban Development. In Austin in 2011, the median family income for a family of four is $74,875.

To make some assumptions about monthly debt ($500), annual property taxes of $7000 and an interest rates at around 4.125%. This is how much house you could afford -$260,000 - $287,000 (depending on which ratios you use)

This results in a monthly payment of $1700 - $1900 (including principle interest taxes and insurance)

 

There are lots of different mortgage calculators out there - I used one at CNN money none of them are perfect, as most don't factor in the Austin challenge - property taxes of 2.3%. The interesting thing to me is the difference that an interest rate of 6% makes. With everything else being equal, the same income could support $217,000 to $239,000.

For someone earning double the median family income, say $150,000 with other debts of $1000 a month, a $50,000 down payment and 4.125% interest rate, a home price of $583,000 to $634,000 is possible.

At Mueller market rate homes span the $290k- 900k range, with an affordable program with homes below $175k. There's a distinct gap for the family earning the median family income. 

 

Ok, so all of Mueller is close to Downtown and the University of Texas, but it took me this long to get a good video showing where the new homes are, where current building is underway on condos and where the commercial area is.



Mueller will have so many new homes, with a large proportion being in the income qualified affordable program and around 30 new market rate yard homes. One of the more interesting new home types is the Shop Home - a vertically distributed live-work space which will be around the main tenants in the impending though organically growing Town Center.

Also there will be a 75000sqft HEB opening in 2013, so things are moving and shaking in what used to be an old airport - 711 acres lying dormant in a prominent position close to the heard of Austin. Here's Catellus dude Greg Weaver talking about the plans for the greenest grocery store you can imagine.



Then finally, the progress at the Wildflower Terrace has been incredible this year. It's been less than 12 months since the ground breaking (below)



And now applications are open to allow the senior affordable homes to be moved into this year - 2011!



Garreth Wilcock helps people understand Mueller homes for sale 512 215 4785

4428 Camacho St Austin TX 78723 is for sale in Mueller right now. It's a popular Meritage floorplan, and there have been one other of this plan resold since the start of 2010, with one currently pending on Antone Street.

The thing that I like about the 1902 floorplan (all the plans have names which vary depending on the elevation, though they all share the number 1902) is the two living spaces. It has a master down which is pretty popular, in addition to two full bathrooms and the second bedroom. There's an open living, dining kitchen, which in this home are tile and wood floored. The dining room at the front of the home is separated from the kitchen which makes for an intimate setting.

Upstairs is my favorite - a full bathroom, the third bedroom and a huge second living space. This could be the main living room, and in this listing has been set up as a movie room.

Get in touch if you want to see the floorplan, or to check out the inside. It hit the market today (pictures available soon) so I took a quick look around before another agent showed up with their buyer.

• 3 bed
  
• 3 full bath
• 2 living
• 1 dining
• 2 car garage
• 2001 sqft per TCAD

 

 

Garreth Wilcock is the #1 REALTOR by volume in Mueller Austin. 512 215 4785

This listing courtesy of Wilson & Goldrick REALTORS.

2008 Antone Street is for sale - it's a resale Standard Pacific Home at Mueller Austin Texas. Not news in and of itself - there's an MLS that allows people to search for homes at Mueller. Here's the rub - it's not in the MLS.

Is it a FSBO? Nope. The real estate agent representing the seller is not a Realtor - that means that they don't participate in the local board of Realtors, which is the organization which operates and controls the MLS.

So how would you find this home for sale? Well, in this case, you'd have to drive by the home and see the sign. Or check out my blog.

The supply of homes in the under $400k segment of the market is dramatically short, which has inflated prices by as much as 10% in a single year - possible signs of a bubble that may soon burst if the builders start to release their new inventory. The $700,000-$900,000 market here is slower, though there are two custom homes under construction that fit into this price point that are already sold. 

The $400,000-$600,000 market is somewhat unproven in recent times so it will be interesting to track this sale. Given that it's off the MLS, it will not be possible for most people to find out the sales price, or the time on the market. The listing agent did say that there was an offer on the home yesterday, though terms had not been met.

According to the Travis County Appraisal District, the home is 2712sqft and when I checked it out yesterday, I learned it was the Carothers plan - 3 bedrooms (including the master) upstairs with a spearate nook overlooking one of the pocket parks. If you've been in the model home, then you'll be familiar with most of the layout. The corner lot has a good sized yard.

Garreth Wilcock is a Realtor helping people buy homes at Mueller Austin Texas. 512 215 4785

 

 

 

 

2010 at Mueller saw around two resale homes per month hit the market, and this year has seen a slow winter so far. Now spring has sprung, we're starting to see the first entrants to the market.

The first is on 4229 Camacho Street - it's the Durrett Interests 2008 home that sold at the end of 2009. It's one of the 5-star green homes - LEED certified - that was part of the 2008 Parade of Homes. It's on the market at $925,000 right now. It's all the threes - 3 bed, 3 bath, 3330sqft per MLS.

The second is the Meritage 2 bedrooms down, 1 bedroom up plan. At 2001 sqft at 1924 Antone Street it has 3 full baths and is available for sale or lease. The sale price is $385,950 and the lease price is $2550.

All of these are competing with some existing inventory - the new custom homes for sale on Camacho Street, and the waiting lists for the David Weekley Garden Homes and Standard Pacific Mueller House Condos. The developer announced the next phases of residential development, and is holding two open houses showcasing the neighborhood in April.

The open houses are going to create great traffic for existing resale homes. My advice to spring sellers is to get on the market before the open houses, which gives them a week! At least to have a coming soon sign and some flyers out for the folk who are driving the area getting a feel for things.

Garreth Wilcock helps people find homes for sale at Mueller Austin. 512 215 4785

If you want to live/work at Mueller Austin TX, you have a few options, and I'll lay them out here with projected time lines.

 

Live/work at Mosaic. You can do this right now. This is the luxury apartment complex which has apartments and ground floor retail space. The smallest office at Mosaic runs at around $1000 a month.

Work at the existing retail or medical parks, live at Mueller, right now. There are medical office buildings in addition to Dell Children's Hospital within the development, and all are within easy reach of the homes at Mueller. You might not be able to live at the hospital, but you can live within 0.7miles and never have to go on a major road to get there.

Mueller Shop Houses should be coming in 2012/2013. With these three story vertical mixed use buildings, you can live in the top two floors and have a commercial / retail / office space on the first floor.You would have a vertical commute!

The Wildflower Terrace is a senior affordable apartment complex coming at the end of 2011. It will have some commercial space within it, so you could live / work there in 2012.

As the town center develops with anchor tenants like the Austin Children's Museum, the opportunities to work at Mueller will increase, and the number of housing options will too. The goal of the development is to be mixed-use and mixed-income, and we're starting to see that realized.

Garreth Wilcock is a REALTOR living in Mueller Austin. 512 215 4785