Sunday, December 27, 2009

Lake Travis Waterfront Home - Main Body Lake with Dock

Lake Travis Waterfront Homes

Lake Travis Real Estate Lake Travis Waterfront Home 16700 Forest Way

Imagine your perfect Lake Travis Waterfront home... is it private? with a pool? large boat dock? gentle slope to the water? room to play? That dream can be a reality!

16700 Forest Way located in the Hudson Bend area of Lake Travis has main body lake access with everything you can imagine - beautiful architecture and finish out, this custom built home on two acres features a gated rock wall entrance, outdoor living space including expansive grill, pool, spa, firepits, beautiful trees, and plenty of sitting areas to enjoy the lake views. The property features two living areas - one is considered the main house and is a 2 bedroom, 2 bath with living room and kitchen and decks along the back to take in the beautiful hill country. The second buidling on the property is the guest house which currently sleeps four, with a full bath and kitchenette. Below the sleeping quarters is a sun room fully equiped with refrigerator and ice maker, sink and counters for all of your outdoor entertaining. It even has a half bath to accomodate the pool.

This property is amazing and there is nothing else like it on the market. It is available for private showing by appointment only. For pictures of this fantastic home, visit http://www.loriwakeifeld.com/

Lori Wakefield is a real estate agent with Keller Williams Lake Travis specializing in Austin Luxury Homes and Waterfront. Contact Lori at 512.657.4455 to purchase Lake Travis Real Estate

Tuesday, December 15, 2009

Lake Travis Real Estate - Flintrock at Hurst Creek - 110 Desert Forest Ct Austin Texas 78738


A Tuscan Home with a Prestigious Address

MLS #: 2030817
Price: $388,000
Street 110 Desert Forest Ct City Austin State Texas Zip 78738
Bedrooms: 3 Bathrooms: 2 Subdivision: Flintrock at Hurst Creek Stories: 1 Square Ft: 2,093 Lot Size: .39 acres
Year Built: 2007 Prop. Type: Residential Status: Active
Description:
Amazingly Beautiful Home loaded with Upgrades in a Premier Gated Golf Course Community * Mediterranean Architecture * Nice Courtyard with Fireplace * Open Floorplan with Fabulous Kitchen * Covered Patio with Built-in Grill * Backyard Perfectly Oriented to Enjoy the Afternoon Shade * Room for Pool

This Mercedes home in Flintrock Falls features Mediterranean architecture and thoughtful features such as outdoor courtyard, tile roof, rotunda, and more.
Flintrock Falls offers the amenities of a luxury vacation resort in a private community. For the golf enthusiast, enjoy a round of golf on one of four exceptional Hill Country golf courses, including the only side-by-side Nicklaus courses in central Texas. If you are a tennis buff, partake in a friendly match on one of the 16 tennis courts at World of Tennis. For the water lovers, spend the day on Lake Travis boating, wakeboarding or jet skiing.
On site amenities include 2 championship golf courses, driving ranges putting greens, 16 tennis courts and a fully equipped gym. In addition there are swimming pools, 2 country clubs and restaurants all located within the gates of this guarded community.
The hiking trails and beautiful scenery in this prestigious community will take you to a peaceful place. Whatever your hobby or lifestyle you can be sure to find it at Flintrock Falls. Isn’t it time that you escaped to your own private resort inside of your own neighborhood?
Flintrock at Hurst Creek - 110 Desert Forest Ct Austin Texas 78738 - Lake Travis Real Estate

Wednesday, December 9, 2009

Lake Travis Select Basketball Wins First League Game of the Season

By Coach Carter December 08, 2009 at 07:36 PM EST

Saturday December 5th marked the opening of the 2009-2010 season for the 6th grade boys Lake Travis Select Team. Although our tournament was postponed due to bad weather, which never arrived. We did play our first game in the Cedar Park Youth League against the TX Heat. Last season the Heat beat us twice in tournament play so we knew how tough the game was going to be.
Both teams began the game in man-to-man defense. Both defenses looked good thoughout the game, (or perhaps our offenses struggled..lol). The Heat had a very tall post player who is excellent and towers over our tallest player, Michael McBride by almost 8 inches. We knew this was a huge challenge for us, but Micheal along with Hugh Robertson did a great job containing their big man. As a team, we did a tremendous job on their point guard and kept his penetration to a minimum.
Jack Wakefield and McBride started us off offensively with a couple of quick scores. Although our offense is not in peak performance as of yet, we moved the ball fairly well and had decent motion. We were able to create shots off of the dribble. Late in the game, Erik Hamilton scored a couple of times to keep us in the lead. In the final seconds, up 26-24, we were able to get the ball down the floor where Collier Schatz was able to get a lay-up opportunity. As the whistle blew on the foul, the ball went in-and-out. Collier hit the 2nd free-throw to put us up 27-24. The Heat take the ball up the floor and call time-out. The Heat ran a series of picks and had a player end up with a great look at a 3-pointer just to the left of the key as the buzzer goes off. (I tell you, from my vantage point, it looked good.) The shot was missed and we were able to survive a competitive, yet semi-ugly game.
We learned a lot about ourselves and I learned more about our players. Our defense got a grade of a B+. Our offense got a grade of C-. In fairness to our players, we have worked on offense, maybe a total of an hour. We have spent far more time on defense. We hope to get some quality work in this week of practice.
We will play CP Cavaliers at 11:45am in League. They are 1-0 in League play. Our previously postponed tournament will be taking place this weekend. Schedule to come.


Lori Wakefield is a real estate agent with Keller Williams specializing is Lake Travis Real Estate including waterfront and luxury homes.

Tuesday, December 8, 2009

Bee Cave Texas Real Estate

Bee Cave, Texas - What was once considered little more than a highway intersection is quickly being transformed into one of the most enviable communities in the beautiful Hill Country surrounding Austin. Great schools, a plethora of recreational opportunities, exceptional nightlife - all combined with the simple joys of small town living - make Bee Cave perfect for today's active family.

A wealth of outdoor fun
Lake Travis is just down the way. Hamilton Pool is a short drive away. Falconhead Golf Club is right here. Boating, swimming, golf and water-skiing... what more could anyone ask for? How about rock climbing? It's nearby as well.

See stars in your Backyard
Many of the top stars in popular music appear regularly all through the spring and summer in the Backyard at Bee Cave. Down FM 2244 (Bee Cave Road) there's more exotic fare at the One World Theatre. Prefer entertainment for the palate? Take a short ride down RR620 to Hudson's on the Bend, one of Texas's true five-star restaurants. And, don't forget the Hill Country Galleria for shopping, dining and outdoor concert events.

The highly regarded Lake Travis ISD
This is a wonderful area for children. The schools are extraordinary, and the after-school activities are boundless. Central to all of this is Lake Travis ISD. The high school and middle school border Falconhead, and the elementary school is close by.

Bee Cave Texas Real Estate includes great neighborhoods like Falconhead, the Homestead, the Uplands, Spanish Oaks, and Lake Pointe. For more information, visit www.LoriWakefield.com

Tuesday, December 1, 2009

Lake Travis Select Basketball Starts New Season

This weekend will mark the beginning of the 2009-2010 season for the Lake Travis Select Basketball Teams. The 6th Grade will begin their Cedar Park League schedule Saturday at 11:34am vs the TX Heat. The Heat have a few fantastic Lake Travis kids and we look forward to a great game.
The 6th Grade also will compete in the 5th Annual "MAYB Slamma Jamma I" Tournament at Crockett High School on Saturday December 5th. They will play Round Rock 7th Grade at 10am, The Heat at 4:05pm, and the Van Alstyne Panthers at 7:10pm. All three games will be highly competitive and Lake Travis looks forwards to the beginning of their building process.
The Lake Travis Select 7th Grade Team will also open their tune-up schedule at the Slamma Jamma Tournament. They will play in the 8th grade division. They open up with the New Braunfels Avengers at 10am, the SV Rangers at 2:05pm, and one other game TBA that evening. They have had tons of sucess at their own age level, so the 8th grade division will be a great experience.

Lake Travis Select Basketball is a private club with teams Coached by Lance Carter.

Lori Wakefield is a REALTOR with Keller Williams - Lake Travis specializing in West Austin Real Estate - Lake Travis, Lakeway, Westlake, Waterfront and Luxury Homes

Tuesday, November 17, 2009

Lake Travis Select Basketball | Lance Carter Basketball

Budding Signs of Recovery Continue - This Month in Real Estate

Budding signs of recovery continued last month. The encouraging news arrived in a number of closely followed economic indicators. On Thursday, October 29, the U.S. Commerce Department stated the country's recession has officially ended, at least as leading data indicates.
U.S. GDP expanded 3.5 percent in the third quarter, the first period of quarterly growth in more than a year. A strong bounce in housing sales activity in September, mainly due to first-time buyers' efforts to claim the tax credit before it expires for November 30, pointed to stabilization in the housing sector. And more good news this week as an extension and expansion to the Home Buyer Tax Credit made its way through a congressional vote and has officially been signed into law by the President.
The recovery will continue to develop in small steps. The Recent Nobel Prize winner in economics, Paul Krugman, praised the progress, stating the most severe part of the crisis has now subsided and “the end of the world has been postponed.” Moving forward, trade imbalances and mounting levels of government debt, as well as high levels of unemployment, will need to be addressed. For now, governments including the United States will continue to provide stimulus support until the major economies are firmly on solid ground.
THE HOUSING MARKET
Existing Home Sales – Up over 9%
Existing home sales bounced back strongly in September with much of the increase being attributed to the rush of first-time buyers trying to claim the tax credit before the end of this month. Sales jumped 9.4 percent to 5.57 million units over August sales of 5.09 million, marking five gains in the past six months and is 9.2 percent above levels seen last year. Sales activity is at the highest level since July 2007 when sales hit 5.73 million.
Median Home Price
Existing-home price was $174,900 in September, 6 percent higher from its low in January but still 8.5 percent below September 2008. Distressed properties, which accounted for 29 percent of all transactions in September, continue to hold down the median price, as they typically sell for 15-20 percent less than traditional homes.
Inventory – Lowest in 2.5 years
The current housing supply is the lowest seen in two and a half years. Total housing inventory at the end of September fell 7.5 percent to 3.63 million existing homes available for sale, representing an 7.8-month supply at the current sales pace, down 16.1 percent from August’s 9.3-month supply. Compared to a year ago, there are now 15 percent fewer homes on the market. According to Lawrence Yun, NAR chief economist, “If we could continue to absorb inventory at this pace, home prices would return to normal, modest appreciation patterns next year.”
Mortgage Rates – Close to 5%
Rates for 30-year fixed loans continue to hover around 5 percent. While having risen above the ultra-low 4.78 percent reached in the spring, rates remain at attractive levels for people looking to buy a home or refinance. As an economic recovery is underway and concerns over inflation come back, experts expect mortgage rates will likely go up.
Affordability – Very favorable
Historically high affordability conditions coupled with the first-time buyer tax credit are boosting home sales. Home buyers continue to benefit from low home prices as well as unprecedented mortgage rates. “Potential first-time buyers can take heart in that affordability conditions this year are the highest on record dating back to 1970,” according to NAR President Charles McMillan. So far this year, the home price-to-income ratio has fallen well below the historical average of 25 percent. The ratio now stands at 15 percent.
Sources: National Association of Realtors, Freddie Mac
Lori Wakefield is a REALTOR with Keller Williams - Lake Travis specializing in West Austin Real Estate - Lake Travis, Lakeway, Westlake, Waterfront and Luxury Homes

Tuesday, November 10, 2009

Homebuyer Tax Credit Extended and Expanded!

Homebuyer Tax Credit Extended and Expanded!
Last week, a new Homebuyers Tax Credit bill was signed into law. The bill extends the tax credit for first-time homebuyers (FTHBs), as well as opens it up to current homeowners who are looking to buy. And even if you aren't looking to purchase - pass on this article to anyone you think might be in the market to do so. This is information that might benefit them greatly, and I'll be happy to be of service to them.
Here is a brief overview of the Homebuyers Tax Credit - and its benefits - based on the new bill.

Tax Credit for First-Time Homebuyers
FTHBs (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.
Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Tax Credit for Current Homeowners
The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What are the New Deadlines?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Those in the military do have some special extensions on the timelines available.

What's So Great About a "Tax Credit"?
The benefit of a tax credit is that it's a dollar-for-dollar benefit, rather than a "tax deduction", or reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer who qualified for the entire benefit were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.
Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little or no income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!

Higher Income Caps
The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sales price of $800,000.

Remember, the new tax credit program includes a number of details and qualifications. Call or email today if you have questions or would like to see if you can benefit from the tax credit...and email this article along to anyone else you feel it might benefit as well!

Looking to take advantage of the new tax credit to purchase your next Austin Texas home? Visit our website at http://www.loriwakefield.com/ to search all Austin Texas Real Estate.

Sunday, November 1, 2009

Lake Travis TV

Lake Travis has started its own Internet TV station - LakeTravisTV.com - a Web site featuring video content on local news, high school sports, lifestyle and business information.

You can learn about things to do in the area, weather, the schools, interesting information about Lake Travis, fishing, boating and of course, real estate including features on a few of the neighborhoods in the area. I think it is interesting to see all of this in video form and it high quality.It's a great informative website especially if you are thinking about relocating to the area.

To see homes for sale in the Lake Travis area, visit my website at www.LoriWakefield.com

Sunday, October 25, 2009

Austin Texas Real Estate Market Statistics

Austin Texas Real Estate Market Statistics
Austin-area real estate market shows improvement over last year
Austin Board of REALTORS® releases September 2009 real estate statistics

October 19, 2009 - According to the September 2009 Multiple Listing Service report by the Austin Board of REALTORS®, activity in the Austin-area real estate market has shown signs of improvement from September 2008.

In September 2009, 1,780 homes were sold, a six percent increase from 1,673 homes sold in September 2008. The median home price for Austin in September 2009 was $185,250, up two percent from the same month the prior year.

“This spur in activity compared to last year is a good sign,” said Jay Gohil, chairman of the Austin Board of REALTORS®. “It shows the Austin-area real estate market is healthy and has remained stable.”

According to the report, the average median home price in the third quarter of 2009 is statistically similar to that of the third quarter of 2008. In addition, the third quarter of 2009 represented the highest quarterly average for home sales this year. There was an average of 1,857 homes sold during the third quarter of 2009, a 3 percent decrease compared to the third quarter of 2008 which averaged approximately 1,912 homes sold.

Gohil continued, “As the deadline for the first-time homebuyer tax credit approaches on Nov. 30, we may continue to see increases in home sales into October and November.” On Nov. 30, the tax credit for first-time homebuyers of up to $8,000 expires. To qualify, first-time homebuyers must close their real estate transaction by that date, a process that requires anywhere from 14 to 60 days or more. For more, visit contact Lori Wakefield at 512.657.4455 or to search all Austin Texas Real Estate visit www.LoriWakefield.com


September 2009 Statistics

$431,530,740 was the dollar volume of single-family properties sold, a seven percent increase from September 2008.


$185,250 was the median price for single-family homes, a two percent increase from September 2008.


9,148 was the number of active single-family home listings on the market, a ten percent decrease from September 2008.


1,780 was the number of single-family homes sold, a six percent increase from September 2008.

The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,000 licensed REALTORS® in Central Texas.

Wednesday, October 21, 2009

Lake Travis Real Estate Market Trends - September 2009

Lake Travis Real Estate Market Trends September 2009

Trends At A Glance

Sep-09

Previous Month

Year-over Year

Median Price

$344,500

$340,000  (+1.31%)

$375,000  (-8.85%)

Average Price

$395,723

$442,725 (-12.06%)

$486,439  (-22.92%)

No. of Sales

59

75  (-27.12%)

61 (-1.69%)

Pending Properties

70

64 (+8.57%)

57 (18.57%)

Active

714

777 (-8.82%)

786 (10.08%)

Sales vs. List Price

95%

92%

95%

Days On Market

99

120 (-21.21%)

106 (-7.07%)

 

 

Lake Travis Area Pending Home Sales Point to Improving Real Estate Market

Pending sales of Lake Travis area single family homes were up 18.57% year-over-year in September.  In the Lake Travis area, 40% of the year-to-date home sales were under $300K and an additional 20% of the homes sold were priced between $300-$400K.  With the end of the federal tax credit for first-time home buyers ending November 30th, we expect sales to be strong through the end of October.

Lake Travis area home sales were down in September, decreasing 27.12% from August.  Year-over-year, Lake Travis area home sales were up 10.67%.  Year-to-date, Lake Travis home sales are down 1.69%.

Inventory declined last month, down 8.82% from August and down 10.08% compared to last September.

The median price remained constant from August and was down 8.85% compared to September 2008.  The average price dropped 12.06% from August and was down 22.92% year-over-year. 

The sales price to list price ratio increased 300 basis points to 95%.

The real estate market is very hard to generalize.  It is a market made up of many micro markets.  For complete information on a particular neighborhood or for an evaluation of your home's worth, call me at 512.657.4455.

 

 

Saturday, October 3, 2009

Lake Travis Real Estate Market Trends August 2009

Lake Travis Real Estate Market Trends August 2009

Trends At A Glance

Aug-09

Previous Month

Year-over Year

Median Price

$340,000

$339,900  (+.00%)

$410,000  (-2.06%)

Average Price

$442,725

$429,687  (+2.95%)

$506,919  (-14.50%)

No. of Sales

75

71  (+5.03%)

67 (+10.67%)

Pending Properties

64

75 (-17.19%)

58 (+9.37%)

Active

777

815 (-4.89%)

810 (-4.25%)

Sales vs. List Price

92%

94%

95%

Days On Market

120

110 (+8.33%)

103 (+14.17%)

 

 

Lake Travis Area Pending Home Sales Point to Improving Real Estate Market

Pending sales of Lake Travis area single family homes were up 9.37% year-over-year in August.  In the Lake Travis area, 40% of the year-to-date home sales were under $300K and an additional 20% of the homes sold were priced between $300-$400K.  With the end of the federal tax credit for first-time home buyers ending November 30th, we expect sales to be strong through the end of October.

Lake Travis area home sales were up in August, increasing 5.03% from July.  Year-over-year, Lake Travis area home sales were up 10.67%.  Year-to-date, Lake Travis home sales are down 9.5%.

Inventory declined last month, down 4.90% from July and down 4.25% compared to last August.

The median price remained constant from July and was down 20.58% compared to August 2008.  The average price rose 2.9% from July and was down 14.5% year-over-year. 

The sales price to list price ratio declined 200 basis points to 92% most likely due to strong price adjustments in the market to get homes sold.  

The real estate market is very hard to generalize.  It is a market made up of many micro markets.  For complete information on a particular neighborhood or for an evaluation of your home's worth, call me at 512.657.4455.

 

 

 

 

 

 

Wednesday, September 30, 2009

Austin Real Estate: Federal Banking Regulators Stopping New Construction Loans?

I received the below article today in a Real Estate Newsletter and while I think the headline “Credit Woes to Threaten Housing Recovery?” is a little alarmist, the article did ‘hit a nerve’ with me. The report is that banks are not lending money to home builders for housing production. The bankers say the regulators will not let them, however, the federal banking regulators maintain that they are not instructing the banks to stop making loans or to indiscriminately liquidate outstanding loans. This – the bankers inability to help their customers at the expense of the regulatory environment - has been an irritant of bankers for years.
To give you some history, prior to my career as an Austin real estate agent, I spent 15 years in community banking as a CFO/COO managing the bank’s operations and finances. I worked directly with Bank Regulators and loved it! Really, I enjoyed the regulatory exam process and liked working with the bank examiners. As a result, I have a unique perspective and ability to understand both sides--that of the community banker and that of the regulator.
Community bankers want to help you. They want your business. They want to lend you money. They want to find creative ways to make and build a relationship with you as their customer. In fact, the Community Reinvestment Act of 1977 ensures that banks meet the ‘convenience and needs of communities including the need for credit services as well as deposit services.’
The FDIC wants to protect your money deposited in the banks. They want the banks to invest in the communities they serve by making loans, but they recognize that the banks are leveraging your money and want to make sure it is protected which is where the regulator guidance comes in. In order for banks to do business, they must follow the banking laws and regulations and respect the guidance set forth by the FDIC and other supervisory entities.
What is going on currently is with bank failures of the past year, the regulators are scrutinizing banks closer than ever. In an effort to protect the consumer’s money, the government has added additional banking oversight related to managing liquidity and concentrations in commercial real estate (i.e. land development and construction loans).
Banks that have been active in making construction loans are now finding that the regulators feel that for the amount of risk in today’s economic environment, the banks need more capital and liquidity relative to the amount of construction loans on their books and in turn, the regulators are giving banks weak ratings and criticism. Effectively, the message to the bankers is that you can no longer continue to do business the way you have been. You need to reallocate your assets and liabilities to fit into a parameter that the FDIC has deemed reasonable. In order to avoid supervisory action, the banks address the issues and invest excess cash into assets other than loans. So while the federal regulators do not ever specifically tell a bank to stop making loans, their oversight is specific enough that the end result is that the bank cannot make the loans unless they receive additional capital from investors which is hard to come by these days and doesn’t always make financial sense.
So, go easy on your banker. He wants to help you.
Credit Woes to Threaten Housing Recovery?
RISMEDIA, September 30, 2009—Nearly two-thirds of single-family home builders are reporting a severe lack of credit for housing production, threatening the fragile housing recovery before it has time to take hold, according to a new builder survey of acquisition, development and construction (AD&C) financing conducted by the National Association of Home Builders (NAHB).
“Across the country, home builders and developers are reporting a deterioration in credit availability and intensifying pressure on borrowers with outstanding loans,” said NAHB Chairman Joe Robson, a home builder from Tulsa, OK. “Lenders are cutting off loans for viable new housing projects and producing unnecessary foreclosures and losses on AD&C loans. With the pending expiration of the $8,000 first-time home buyer tax credit, these challenges threaten to halt any positive developments we have seen in the housing market in recent months.”
In the latest NAHB survey of AD&C financing conditions, 63% of builders stated that the availability of credit for single-family construction loans worsened in the second quarter of 2009.
Builders reporting deteriorating credit conditions cited the following reasons: 80% said that lenders are lowering the allowable loan-to-value ratio, 76% reported that lenders are not making new loans, 75% stated that lenders are reducing the amount they are willing to lend and 62% said that lenders are requiring personal guarantees or collateral not related to the project. Two-thirds of respondents reported putting single-family construction projects on hold until the financing climate gets better.
While federal banking regulators continue to maintain that they are not instructing institutions to stop making loans or to indiscriminately liquidate outstanding loans, builders responding to the survey cited the top reason that lenders have given them for restricting the availability of new loans or for tightening the terms of outstanding loans is that “regulators are forcing lenders to do it.”
NAHB believes that regulators and lenders should provide leeway to residential construction borrowers who have loans in good standing by providing flexibility on re-appraisals, loan modifications and perhaps forbearance on loans to give builders time to complete and sell their inventory.
“There can be no meaningful economic recovery until the flow of credit is restored to housing,” said Robson.
For more information, visit www.nahb.org.
Lori Wakefield is a REALTOR with Keller Williams - Lake Travis specializing in West Austin Real Estate - Lake Travis, Lakeway, Westlake, Waterfront and Luxury Homes

Friday, September 25, 2009

Bee Cave Central Park Opening Soon??

The $4.5 million Bee Cave Central Park may open in October thanks to the recent rain .
The City of Bee Cave held a dedication and recognition ceremony at the Central Park on Saturday, July 18, 2009. The Mayor and City Council, along with members of the Economic Development Board and Planning & Zoning Commission, thanked everyone involved for their efforts.
However, The City of Bee Cave had this statement to explain why the park was still not open despite looking complete,
"The City of Bee understands how important this impressive amenity is and how anxious everyone is to see it open. Unfortunately, and due primarily to the drought conditions affecting Central Texas, the Bee Cave Central Park must remain closed to the public for the time being to allow native and seeded grasses to take root before the Park opens officially. The contractors are working diligently to fulfill their contract by completing the remaining punch list items. We estimate the Central Park will be open to the public in the Fall of 2009."
Word on the street is that the recent rains are helping speed the process along. Great news for Lake Travis residents who are anxiously awating to enjoy this beautiful park!
Lori Wakefield is a REALTOR with Keller Williams - Lake Travis specializing in West Austin Real Estate - Lake Travis, Lakeway, Westlake, Waterfront and Luxury Homes

Tuesday, September 22, 2009

Lake Travis Area Sees Growth with New Hospital and Subdivisions

Big things are happening in the Lakeway / Lake Travis area with construction underway on several projects including new subdivisions as well as a large hospital and medical facilities. It's exciting to see construction of the new hospital and shows that city planners see a future need based on the past and projected growth of the community.
Here is a list of the current projects going on it the area:
Serene Hills Drive to be extended to HWY 71 by Summer 2009 … opening delayed pending improvements along HWY 71
Creekside at Flintrock – 33 acre subdivision with 26 single family lots
Palomba Addition – 15 single family lots
Flintrock Falls Phase 5 – 24.5 acres consisting of 44 single family lots
Flintrock Falls Phase 6 – 10.5 acres consisting of 20 single family lots
Lakeway Highlands – Total of 1,540 acres consisting of approximately 1,400 single family lots, 330 condominium units, 35 acres of commercial, 10 acres of hotel, 8 acres of yacht club, 300+ acres of parks and green space, 130 acres of irrigation land, Highlands Blvd to be open in 2009
Rough Hollow – Sections 1 & 2 consist of approximately 100 single family lots, Section 5 has approximately 40 single family lots, and Section 7 with 40 single family lots
Lakeway Church – a new 13,600 sqft Youth and Children’s building at 2203 Lakeway Blvd
Lakeway Dental – 8,000 sqft medical office building at 2220 Lakeway Blvd
Pierce Plaza – 11,700 sqft office building on 1.26 acres at Lohmans Crossing and Rolling Green, plans approved, construction delayed indefinitely
Weed-Corely-Fish Funeral Home – 10,000 sqft funeral home at 411 RR 620 South. Driving by there yesterday, construction looks complete or very close to complete.
Lakeway MUD Water Tank – Two million gallon water storage tank. Tank operational, site work and tank façade to be completed by September 2009
Tuscan Village – 61 acres total; 42 acres on South side of Lohmans Crossing consisting of 104 sign family cottages, 66 townhouses, 100 condominium units, 30,000-60,000 sqft of office/retail, 10,000-15,000 sqft public library, neighborhood commercial, cublhouse, 19 acres on North side of Lohmans Crossing consisting of 210 multifamily units, 50,000 sqft office/retail, neighborhood commercial, clubhouse. Site work underway.
Lake travis Transitional Medical Center – Located on RR 620 and Birrell Street. Total of 15 acres – Phase 1 includes a long term acute care hospital (currently under construction – expected completion by Spring/Summer 2010), Phase 2 includes approximately 60,000 sqft of medical offices.
The Vistas at Lakeway – 50 acres at RR620 and Glen Heather Drive. Total of 175 condo units in three phases, Phase 1 and 2 (roughly 110 units) currently under construction.
Real del Lago – 2609 RR 620 S, 22,500 sqft building on 4 acres for Restaurant, Retail and Office Use. Site plan in development
Discovery Point – 3001 RR 620, Two phases, 13.5 acres total. Phase 1 – 11,000 sqft building to include office and restaurant space (complete); Phase 2 22,000 sqft medical office building (site work underway).
Lakeway Regional Medical Center – 3000 RR620, 54 acres consisting of a hospital (104 beds in first phase), hotel, day care, medical office, retail and restaurants. Site work underway.
North Lakeway Village – Total of 160 acres to include 130 single family units, 88 condo units, 33 acres greenbelt, and 51 acres of commercial. Residential units under construction; no plans for commercial property at this time.
Holiday Inn Express – hotel (and possibly commercial) on 4 acres tract at Oak Grove Blvd and RR 620 North. Site plan under development.
For a map of the current Lakeway projects, visit the City of Lakeway website or click on the link below:
http://cityoflakeway.com/DocumentView.aspx?DID=1016

Thursday, September 17, 2009

Austin among the Best Performing Cities

Good news for the Austin Real Estate Market - according to a new national forecast from IHS Global Insight, Austin and San Antonio will be the first two US cities to recover from the recession.
In fact, Austin is predicted to return to our pre-recession job levels sometime in 2010 while other US cities are expected to take until 2011 to reach their pre-recession job levels.
Austin is also named on of the 20 Best Performing Metropolitan areas in the second quarter of 2009, according to a study by the Brokkings Institution.
Austin is the a leader among several of the nine metrics tracked by MetroMonitor report, including percent change in gross metropolitan product to percent change in housing prices.
Austin's employment rate fell just .5% from its pre-recession peak - the second narrowest gap in the nation! And, Austin is one of only three US cities that surpassed its pre-recession peak output by the second quarter of 2009. Overall, Austin, McAllen, Texas and Washington DC have been the least affected by the downturn.
Austin, Texas is a great place to live and work!

Saturday, September 12, 2009

Austin Texas Real Estate | Travis Country West | 5800 Sunset Ridge



MLS #: 6753756
Price: $397,000
Street 5800 Sunset Ridge City Austin State Texas Zip 78735
Bedrooms: 4 Bathrooms: 3 Half Baths: 1 Subdivision: Travsi Country West Stories: 2 Square Ft: 3,256
Year Built: 2006 Prop. Type: Residential Status: Active
Description:
Fabulous family home has tons of upgrades & sits on a large lot with distant hill country views*Gourmet kitchen features beautiful granite counters, built in oven/microwave, custom tile backsplash & opens to the spacious family room that has tons of natural light, * Wood floors and tile throughout the entire downstairs *The elegant master suite has coffered ceiling, double vanity & huge walk in closet * Large backyard deck perfect for entertaining

Lake Travis Real Estate | The Preserve at Barton Creek | 11208 Native Texan



MLS #: 8276876
Price: $860,000
Street 11208 Native Texan City Austin State Texas Zip 78735
Bedrooms: 4 Bathrooms: 3 Half Baths: 1 Subdivision: The Preserve at Barton Creek Stories: 2 Square Ft: 4,358 Lot Size: 1.15 acres
Year Built: 2003 Prop. Type: Residential Status: Active
Description:
This Home Has it All !!! Acreage Estate Lot, Exclusive Gated Community, Hill Country Views, Beautiful Finish Out, Large Private Backyard with Pool, Hot Tub, Cabana and Fire Pit, Close to area Shopping and Beautiful Lake Travis * Acclaimed LTISD Schools

Lake Travis Golf Course Community



MLS #: 2030817
Price: $399,999
Street 110 Desert Forest Ct City Austin State Texas Zip 78738
Bedrooms: 3 Bathrooms: 2 Subdivision: Flintrock at Hurst Creek Stories: 1 Square Ft: 2,093 Lot Size: .39 acres
Year Built: 2007 Prop. Type: Residential Status: Active
Description:
Amazingly Beautiful Home loaded with Upgrades in a Premier Gated Golf Course Community * Mediterranean Architecture * Nice Courtyard with Fireplace * Open Floorplan with Fabulous Kitchen * Covered Patio with Built-in Grill * Backyard Perfectly Oriented to Enjoy the Afternoon Shade * Room for Pool

Sunday, July 26, 2009

New numbers on the real estate front

Although experts predict it will take time for the economy to fully recover, there has been a lot of encouraging news recently.

  • The percentage of first-time buyers dipped to 29 percent as a result of more repeat buyers entering the market, suggesting signs of a return to a more balanced market.
  • Americans have shifted into savings and are now putting away a larger portion of their income – so much that the U.S. savings rate has now surpassed that of Canada!
  • Home prices edged up almost 4 percent between May and June of 2009, due to repeat buyers purchasing at higher price points, and distressed properties accounting for a smaller percentage of sales (33 percent of sales, compared to 45 percent the month before).

Sunday, May 3, 2009

The Top Ten Big Demographic Trends in Austin, Texas

Interesting populations trends for Austin Texas provided by the City of Austin website: http://www.ci.austin.tx.us/demographics/

Introduction: Austin is evolving as a city and as an urban area. Its point along a trajectory of growth and demographic change can be located and described by outlining several large-scale phenomena of urbanization. This list of The Top Ten Big Demographic Trends will attempt to answer these questions: Where have we just come from, where are we now, and where are we going as a city? Demographically speaking that is.

The theme of ethnic change and diversification is a common one throughout the Top Ten, and yet each point addressing the issue highlights a particular aspect of ethnic change significant in its own right. In one way or another, the trends discussed below are inherently intertwined with one another—each force exerting its own push or pull on the collective, synergistic direction of the city’s demographic path.

The Top Ten:

Number One: No majority. The City of Austin has now crossed the threshold of becoming a Majority-Minority city. Put another way, no ethnic or demographic group exists as a majority of the city’s population. The city’s Anglo share of total population has dropped below 50% (which probably occurred sometime during 2005) and will stay there for the foreseeable future. Please see graph..

It’s not that there hasn’t been absolute growth in the total number of Anglo households in Austin but rather it’s because the growth of other ethnic groups has outpaced the growth of Anglo households. For example, the growth rate of Latino and Asian households far exceeds the growth of Anglo households in Austin.

Number Two: Decreasing families-with-children share in the urban core. The share of all households within the city’s urban core made-up of families-with-children is slowly declining. In 1970, the urban core’s families-with-children share was just above 32%, Census 2000 puts the figure at not quite 14%. Moreover, with only a few neighborhood exceptions, the urban core is also becoming almost devoid of married-with-children households, please see map.

Citywide, the trends have been similar in that the overall number of families-with-children has increased while the share of total households from families-with-children has decreased. This relative loss of families-with-children households has significant implications for the city’s several school districts, but AISD will feel the greatest brunt of the effect.

Here’s the rub: the absolute number of children in the city is going up, while their share of total population is declining. This paradox is further exacerbated by the fact that in absolute terms the demand for services will increase as the share of families that remain within the city will become, in relative terms at least, increasingly poor because of who’s left and who’s moving in. School systems and health care providers will have a hard time managing the increasing absolute need in light of this loss in share.

Although there will continue to be pockets and neighborhoods with high concentrations of affluent families in Austin, it has been middle class families that are becoming increasingly less common within the urban core. Without a sizable share of middle class families to stabilize the urban core, working class families suffer because the rung above them on the socio-economic ladder has been removed, making it more difficult for them to achieve upward social mobility.

Number Three: African American share on the wane. The city’s African American share of total population will more than likely continue its shallow slide even as the absolute number of African Americans in the city continues to increase. The import of this decrease in share should not be underestimated as just a few decades ago African Americans made-up around 15% of the city’s population and just a few decades from now African Americans could represent a mere 5% of the city’s population and constitute the smallest minority group in the city.

Number Four: Hispanic share of total population…will it ever surpass the Anglo share? Maybe not, but they’ll be close to each other in a short 25 years. You just can’t say enough about how strong Hispanic growth has been. The city’s Hispanic share in 1990 was under 23%, the Census 2000 figure was almost 31%, and this share of total is probably around 35% today.

Importantly, the city’s stream of incoming Hispanic households is socio-economically diverse. Middle-class Hispanic households have migrated to Austin from other parts of the state and the country for high-tech and trade sector jobs while international immigrant Hispanic and Latino households have come here for construction and service sector jobs. Among other effects on the total population, the huge influx of Hispanic families into Austin, with higher-than-average household sizes and more children per household, has acted to dampen the increase in the city’s median age, keeping Austin one of the youngest cities in the country. Moreover, were it not for Hispanic families moving into the urban core, the city’s falling families-with-children share would have had a much steeper descent.

Number Five: Asian share skyrocketing. The Asian share of total population in Austin almost doubled during the nineties, leaping from 3.3% in 1990 to almost 5% by 2000 and stands somewhere near the 6.5% mark today. Like their Hispanic counterparts, the incoming Asians to Austin during the past 15 years are a much more diverse sub-population than what existed in Austin in the past. For example, thirty years ago, if you were Asian and in Austin, chances are you were Chinese and somehow associated with the University of Texas. Today, Austin hosts an Asian population that spans the socioeconomic spectrum and is sourced by several countries of origin, with India, Vietnam and China being the largest contributors, please see graph.

Austin has become a destination, for example, for Vietnamese households flowing out of metropolitan Houston. This highly entrepreneurial population has opened new businesses, purchased restaurants, made loans available to its network and acquired real estate. Emerging clusters of Vietnamese households are evident in several northeast Austin neighborhoods. Please see map.

Amazingly, by the middle of the next decade, the number of Asians in Austin will more than likely exceed the number of African Americans. While the general population of Austin doubles every 20 to 25 years, the number of Asians in Austin is doubling every ten years.

Number Six: Geography of African Americans, dispersion and flight to the suburbs. The critical mass and historical heavy concentration of African American households in east Austin began eroding during the 1980s, and by the mid-1990s, had really begun to break apart. Please see map.

Over the past 25 years, middle-class African American households have left east Austin for the suburbs and other parts of Austin, please see map. The level of residential segregation for African Americans has dropped significantly as their level of spatial concentration has diminished. Many community leaders talk today of how many of these families are still returning to churches in east Austin on Sunday morning. However, many of these same community leaders fear that the newly-suburban African American population will eventual build suburban churches closer to home, leaving the original houses of worship somewhat stranded. The potential impact of the loss of these churches and their community outreach and community care programs on the African American households left in east Austin could be devastating.

Number Seven: Geography of Hispanics, intensifying urban barrios along with movement into rural areas. Maps of Hispanic household concentrations from Census 2000 reveal the emergence of three overwhelmingly Hispanic population centers in Austin: lower east Austin (which also serves as the political bedrock of Austin’s Hispanic community), greater Dove Springs, and the St. Johns area. Dove Springs shifted from being about 45% Hispanic in 1990 to almost 80% by 2000. St. Johns went from being 35% to 70%--this radical transition is clearly evident on the streets of St. Johns, a neighborhood that once hosted one of Austin’s oldest African American communities. Please see map.

The import of this trend is this: at the same time that ethnic minority populations are moving into the middle-class and are more capable than ever to live anywhere they choose, there are parts of the city where ethnic concentration is greatly increasing. However, it is lower-income minority households that are most likely to participate in the clustering phenomenon.

Number Eight: An increasingly sharp edge of affluence. Maps of Median Family Income from Census 2000 show an increasingly hard edge between affluent central Texas and less-than-affluent parts of the urban region. While some forms of residential segregation have decreased markedly over the past few decades in Austin, the degree of socio-economic spatial separation has steeply increased. The center of wealth in Austin has slowly migrated into the hills west of the city. Please see Median Family Income maps one, two, and three in sequence to get a feel for just how much of an island of affluence exists in greater Austin.

This trend of wealth-creep out of the City creates an even greater burden for citizens funding services and facilities that are used and enjoyed by individuals from across the region.

Austin is becoming a more divided city, divided not just in terms of income but also in terms of cultural attributes, linguistic characteristics and political persuasions. For example, precinct-level results from the 2004 Presidential election reveal a deep cleavage within the Austin urban area in terms of the residential location of Republicans (map) and Democrats (map) and the dividing line between Red and Blue Austin that roughly follows MoPac from south to north, illuminating the strong east to west political spatial dichotomy (map).

Number Nine: Regional indigent health care burden. During the foreseeable future, the regional indigent health care burden will continue to grow and the city’s disproportionate shouldering of the cost will increase as well.

The creation of the Travis County Hospital District in 2004 was a giant step toward leveling the uneven burden of indigent health care across the Austin region, and yet, there was an obvious spatial pattern of who supported the creation of the district and who did not, as illustrated by the precinct-level results of that vote.

Number Ten: Intensifying urban sprawl. The Austin region will continue to experience intense urban sprawl, please see map. Although there is an enormous amount of residential development currently underway within the urban core and in downtown Austin, the thousands of new units being created there will be only a drop in the regional bucket of total residential units created. There simply are very few land availability constraints in the territory surrounding Austin.

And yet this is not to say that the positive effects of new urbanism and Smart Growth policies won’t be felt inside the city, it is rather to say that even with the success of the many enlightened urbanizing efforts currently afoot in Austin, urban sprawl and its footprint will have an enduring presence in central Texas.

Conclusion: Austin is a magical place, an attractive place, attractive not only in terms of natural beauty but also in terms of its gravitational pull for people.

Austin draws its special character from its physical setting along the Balcones Escarpment, a city wedged between coastal plain and dramatic cliffs, canyons and juniper carpeted rolling hills; it sits on the edge of the Chihuahuan desert existing as a physical and cultural oasis where talented, entrepenurial, hard working people are drawn from all over the world.

Austin’s quality of life has become its biggest economic development engine, and the city’s diverse demographic structure serves to support and enrich its quality of life.

Ryan Robinson
City Demographer
City of Austin

Investing in Austin Real Estate

Here is a recent interesting article dicussing the large rental base in Austin vs. Homeownership. According to the map showing which areas have the most renters, it is largly due to the University of Texas and the fact that the average age in Austin is very young compared to other large cities.

If you are looking to purchase a rental property in Austin, Texas, call me at 512.657.4455. There are a lot of highly desireable areas to choose from and it is a great time to buy!

MHN Special: Austin Market Report with Nielsen-Claritas Research Published: April 15, 2009
By Erika Schnitzer, Associate Editor

Austin, Texas—known for its live music scene and enormous university—is a relatively young city, which makes it an ideal rental market. Ranked by Money magazine as the No. 2 Best Place to Live in 2006, Austin has continued to experience employment growth, with its government base helping to minimize the downturn, according to David Ward, executive vice president, regional investment director Southwest region for Post Properties Inc.Because of its relatively young demographic, Austin has “historically [had] a higher rental demographic versus home ownership,” asserts Ward. While the gap between renting and home ownership has narrowed in recent months, Ward predicts that it will once again become defined as home ownership rates return to normal and rental occupancies pick up.Below is the generational breakdown throughout the United States, compared with that of Austin. According to Nielsen Claritas' figures, 25.5 percent of the U.S. population is comprised of "Authority Figures," those born in or before 1945. The same group makes up a smaller population in Austin—16 percent. Looking at the "Social Netizens," those born between 1986 and 1994 and the youngest generation shown in the chart, we see that while the group comprises only 1.7 percent of the nation's population, Austin's "Social Netizens" group comprises 3 percent of the city's CBSA (Cored-Based Statistical Area).By comparing the generations on either end of the spectrum, we see that Austin's population is, in general, much younger than that of the nation as whole. Based on this information, we can infer that Austin would tend to be a higher rental city, as it is usually the younger demographics who rent—as opposed to own—their homes.According to Mark Johnson, associate at Colliers International’s Multifamily Advisory Group International, of all the cities in Texas, Austin saw the largest drop—410 basis points—in year-over-year occupancy, from January 2008 to January 2009. One year ago, Austin had the highest occupancy rates of any city in Texas. Despite this drop, occupancy remains at 88.8 percent, higher here than in most other Texas markets and on par with Dallas. In addition, because of the high home prices, the shadow market has not had too much of an effect on the city.Rent-wise, all Texas markets experienced some growth, before concessions, reports Johnson. Austin, always with the highest rents in the state, was up 4.4 percent year-over-year, from $833 to $870. While it lagged behind Houston in terms of growth, Austin remains at the top of the market in terms of dollar amount.Given the current state of the economy, it is no wonder that developers are at the same time both hesitant and eager to explore new markets. Careful consideration of market demographics is absolutely critical at any point in time, but even more so in these troubled economic times, notes Terry Munoz, vice president and practice leader of the real estate, retail and restaurant industries for Nielsen Claritas, a national marketing information source that, like MHN, is part of The Nielsen Co.“We need to move from the ‘if you build it, they will come’ [mentality] to fact-based decision-making,” asserts Munoz. “In a recession lenders require an even higher level of due diligence from developers. And unless developers are asking how to best market their products now, ROI and retention will fall by the wayside."What do Austin renters want? According to Ward, the typical Austin renter is similar in demographic to the general renter pool—a young professional, 25- to 45-year-old, who is well-educated and employed in either the tech or government sector Most renters, whether singles or couples, do not have children. Click
here for a list of the top 10 socio-economic segments in Austin's CBSA (Core-Based Statistical Area), along with a description of each.So, what does the Austin renter look for in a community? “In urban markets, we reach a pretty high rental demographic, so we provide smaller unit sizes but substantial amenities,” says Ward. Because Austin has the highest home prices in Texas, rentals also tend to be higher-priced, resulting in a certain expectation of quality in a residence. Consequently, rents at Class A properties increased 2 percent at the end of the fourth quarter 2008, to $1,017 per month, while Class B and C properties grew only 1 percent during the same time period, to $710 per month, reports Johnson.While the typical Austin renter wants to live in a nice community, says Ward, from an income standpoint they also need to look at smaller square footages. Thus, Post’s Austin properties provide an average of 850 sq. ft. of living space. However, Ward notes that this smaller-than-average living space demands a high-quality amenity package. “When we look at underwriting our transactions, we try to price in value of upgraded amenities on return and make sure what we incorporate there is a demand for and price to pay to enhance NOI,” he says.Because of this expectation, Ward says that Post tends to “deck out units” so residents feel they are getting “the bang for the buck.” Community amenities typically include patios, pools, large fitness areas, Internet cafes and community rooms. High-density products are often built around a professionally landscaped courtyard, and Ward notes that urban vegetable gardens are gaining in popularity. Because much of Austin’s demographics are somehow related to the University—whether they are faculty or past or present students—the demand in this area is the city’s highest, particularly within a two- to five-mile radius, says Johnson.Opportunities for investment Ward remains optimistic about Austin, predicting that Texas will fare better than most other states across the country and that Austin will be similar to Houston in its apartment fundamentals. He remains positive, saying that he would rank it among some of the highest cities, despite “some softness because of the amount of product on the market.” He believes that this softness will be relatively short-lived, however.Johnson believes that the stick-built, four-story projects with concrete and steel parking garages will be the first projects to be built and will be the ones performing the best once the economy turns around. He asserts that, compared with other products on the market—particularly the high-rise projects that developers had built with a condo exit strategy in mind and the garden apartments, for which there is not enough land—the more traditional projects will be reasonably priced. “Location is key in a market like Austin,” notes Ward. Thus, the best bets are the areas around the University, as demand there is high. Because the CBD has historically been the most desirable area for renters and has some of the highest rent growth, it also has a high barrier to entry. But if you can get in to the market, a five-mile ring around the CBD is the best place to concentrate, according to Ward.Click here to see where residents are renting in Austin's CBSA.The Austonian, a 56-story, 178-unit high-rise residential and retail project designed by Ziegler Cooper Architects for Benchmark Development and Second Congress Ltd., will be the tallest building in Austin, as well as the tallest residential building west of the Mississippi. The vision for a high-density residential luxury property in Austin was reinforced by the initiatives of the City of Austin, and specifically, Mayor Will Wynn. City leaders set the goal of adding 25,000 new residents to downtown Austin over a 10-year period.A participant in the City of Austin's Green Building Program, the Austonian will feature occupancy sensors and dimming ballasts in common areas; low-VOC adhesives, sealants, paints and coatings; non-toxic pest management and cleaning products; a rainwater collection system; special coated and insulated glass for year-round energy savings, and more. (Click here to see a SLIDESHOW depicting this green condo's model residences, sky lounge, lobby and more.)“I think our focus on the urban locations probably gives us the most stability, long-term,” Ward says. “You don’t have lows as low, and highs are pretty good. Location is key in a market like Austin.” As Munoz notes, “Austin is a microcosm of redevelopment and re-gentrification.” To that end, trends in the city include mixed-use and transit-oriented development, although the experts have different opinions about whether they are ideal investment opportunities. While the consensus seems to be that mixed-use developments are, in fact, a trend because they appeal to both young demographics as well as some of the older, active adult renters. Johnson does not believe there is enough traffic to draw retailers to lease space in the projects. Consequently, he says, neighborhood-focused retail is more common than anything else in these project types.Furthermore, “a lot of mixed-use was driven by municipalities,” Johnson notes. He warns that this is not necessarily a good thing, as it can force developers to lose efficiencies. The market has to dictate that there is a need for multiple products within it, says Munoz “It’s not one strategy fits all. Austin is a vibrant young marketplace but has older demographics as well.”With the completion of its first rail line—which comprises five or six train stations—Ward notes that the trend of transit-oriented development is here to stay. “As rail line grows in Austin there will be more development associated with those stations,” he predicts. And perhaps renters will be more inclined to venture a few miles further away from the University and CBD.

* Nielsen Claritas is a marketing information resources company dedicated to helping companies engaged in consumer and business-to-business marketing. It is dedicated to maximizing clients' profitability with targeted and measurable marketing programs and enterprise-wide technology solutions. Nielsen Claritas uses its PRIZM segmentation system to study 66 socio-economic demographics, including groups such as "Young Digerati," "Brite Lites," "L'il City," "Bohemian Mix" and "Gray Power."

Saturday, May 2, 2009

Luxury Institute Survey: High Net-Worth Consumers Rank the "Best of the Best" Luxury Home Appliances and Bathroom Fixtures Brands

The Luxury Institute reported today the top-rated luxury Home Appliances and luxury Bathroom Fixtures categories in the 2009 Luxury Brand Status Index (LBSI) survey, which identifies the top brands that exhibit true luxury in these two essential living categories based solely on the unbiased ratings of wealthy consumers.
Which luxury home appliances brands deliver the best combination of quality, exclusivity, customer experience and peer prestige? High net-worth consumers rated Wolf, Viking and Sub-Zero the "Best of the Best" among the 20 brands that were rated. In the bath fixtures category, Hansgrohe, Showhouse by Moen and Franke were rated the top three among 16 brands.
The LBSI asks high net-worth consumers to rate luxury brands by category across four equally weighted components: Consistently Superior Quality, Uniqueness and Exclusivity, Making the Customer Feel Special across the entire experience and Being Consumed by People Who Are Admired and Respected.
The "Best of the Best" are: (LBSI score out of 10)
-- Home Appliances
- Wolf-7.86
- Viking-7.66
- Sub-Zero-7.64
-- Bathroom Fixtures
- Hansgrohe-7.77
- Showhouse by Moen-7.35
- Franke-7.31
"As high net-worth consumers demand maximum value for the luxury they consume, our independent and objective ratings are the only source that is based solely on the voice of high net-worth consumers, using unbiased panels and independent analytical firms to run and tabulate the results. These top-rated brands deliver luxury, and consumers appreciate it," said Milton Pedraza, CEO of the Luxury Institute.
"Luxury requires a reinvention based on radical innovation of design, quality, craftsmanship and especially service, all delivered to a client who demands to know why he, or she, is paying a significant premium for commoditized goods and services. Luxury needs to reinvent the values that drive optimal customer experience to a new level of performance that high net-worth consumers will rate as true luxury. The reality is that, despite what pundits say, the success rules of luxury will soon be re-written by the radically creative luxury innovators, and the winners will be determined only by unbiased consumer ratings, not luxury pundits."
The proprietary Luxury Brand Status Index (LBSI) survey is the only unbiased measure of the prestige of leading brands among wealthy Americans. A national sample of 1,208 wealthy American consumers, with an average income of $345,000 and average net-worth of $3.2 million, was surveyed online. Survey results are weighted to match demographic and net-worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.