How is the resale market at Mueller Austin? Here’s an overview of what has happened so far, and a brief clip of Catellus’ Greg Weaver talking about the upcoming development plans.
If you’ve been out and about in Mueller lately, you’ll have seen a few for sale signs – some of them popping up in the last fortnight. It’s interesting to see the difference between the current list prices and the orginal purchase prices a few years back, and the difference between list price and sales price of the recent sales. Contact me if you want more info on that.
Is now a good time to compete with new builds?
On the one hand, some of the resale floorplans or locations aren’t available for the builders. For example, the resale homes on Zach Scott with views of Lake Park or on Pinckney with easy access to the pool at Ella Wooten are hard to beat.
In addition, the builders are running out of lots and of homes they can build for the near future, until the next development phase is announced. David Weekley is selling it’s Willie model home on Zach Scott as one example, and Meritage have removed their construction trailer from McCloskey to build a home there.
Catellus, the developer, is still saying it may be 60-90 days before they release news of the next development steps. So there may be no new homes in the next phases ready in time for Spring 2010. Here’s Greg Weaver at Catellus talking about the next phases of development:
- smaller phases of development
- more organic evolution
- sticking to the original master plan, while changing the execution plan
So it seems that right now and for the next few months, there is less builder competition for portions of the resale market. Sellers can take advantage of the availability gap to sell their homes.
On the down side, the developer is talking of a 3-5 year lag for a town center, which is one key set of amenities in the eyes of many considering a new or resale home at Mueller. Less amenities might mean less interest.
In the last few months we have seen successful sales on Scales, Zach Scott and Cal Rodgers with low times on market compared to similar price points in the rest of Central Austin. If you’re considering selling, check out the tips in this article on selling your home at Mueller.