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Resale Homes at Mueller – Spring 2010 Update

Builders are still selling new homes at Mueller this Spring, yet the resale market is faring well. It’s always important to consider the competition when evaluating any particular segment, and the biggest competition for homes here on the resale market is new construction. I’ll take a look at what’s selling, and what it’s competing with.

How many new homes will there be in this phase of development? David Weekley, Standard Pacific and Streetman still have new homes that can be built, and a few inventory homes for immediate move-in. The Muskin company are building another of their custom homes on Camacho Street, and Durrett interests is set to do the same.

When is the next phase of development? The developer is about to announce progress on this front. Most of the discussion points to denser housing being built along Simmond Avenue before any new homes are built to compete with the existing homes. In other words, new homes may be of different styles and formats and not present direct competition to people trying to sell their current homes. There may be an availability gap between phases where few new homes are available.

How are resale homes selling?

$300,000-$400,000: two yard homes on the market in 2010 in this price range and both were under contract within a week. I was glad to market this one at 3925 Sahm St, and the only competition for an inventory home for this floor plan was the David Weekley model “Willie”.

One row home on Berkman is available – it’s entered into the MLS as a new home, but appears to all intents and purposes to be a resale home. It’s the Bonnell plan from David Weekley and is an end unit. This is competing with a new inventory home from the builder – their model home on Zach Scott. The good news for the resale market is that David Weekley have been steadily increasing their prices, most recently in the middle of March.

$400,000-$500,000 : There are two resale Standard Pacific yard homes on the market on Tom Miller and Antone streets in this price range. This market is more competitive with four new homes available from the builder. Standard Pacific also changed from delivering 3 star to 4 star green homes in the Austin Energy Green Building Program and buyers really appreciate any increase in home efficiency.

$700,000-$1,000,000: There is a single resale home on Tom Miller Street in this price range. The competition comes mainly from one “2009 Parade of Homes” custom home, and the custom home lots on Camacho that can be built upon – e.g. by Bill Taute and Alan Muskin.

Check out how sellers can compete with new home builders in your subdivision

What’s the price per square foot of homes at Mueller? I still don’t like this number as it is subject to such variation and misinterpretation – since people ask me for it, here it is: current list prices vary between $164/sqft and $270/sqft. I don’t put much stock in the number.How do I price my home at Mueller for sale? There are a few Realtors active in the Mueller market (including myself)- I would contact one of them to get advice on pricing, and a review of what you are competing against and the incentives offered by the builders where relevant.

Garreth Wilcock is a Realtor ® specializing in homes at Mueller. Call him on +1.512.829.1351 to find out what your home is worth, and see a list of available homes at the old airport> redevelopment.

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