Austin Luxury Real Estate Market & Home Evaluation
Austin's Luxury Home Values & Ranch Valuation Criteria:
How to Value Your Home
Location is certainly one of the most important contributing factors when it comes to assigning the appropriate value to a beautiful piece of land in the Texas Hill Country, luxury home, or neighborhood lot. If you are selling a ranch, this is obviously one of the factors that is most looked at. Different counties all across Texas, from Travis and Hays to Blanco or Bastrop, feature many different species and quantities of local wildlife and vegetation, as well as terrains and climates. Each area has its own characteristics that appeal to different buyers. The same can be said for luxury homes in areas like Austin; Tarrytown has its desirable location close to downtown, restaurants, and nightlife, as well as being central to other popular destinations around Austin such as Barton Springs, but Lakeway has its proximity to desirable natural hotspots such as Lake Travis and other lifestyle destinations such as shopping malls or golf courses that make it desirable as well. Contact one of our agents today and we can help you determine your homes value in no time!
Curb appeal and property features are another large set of factors in a home’s value. Some buyers love a modern look while others Prefer a classic Victorian or vintage look, and yet, some would rather have a luxurious rustic feel to their home or ranch house. Each of these looks appear on luxury properties throughout Austin, so they don’t directly effect the price, but do influence the way and to who we market our luxury real estate listings. other amenities also come into play when considering a luxury home’s curb appeal. Sports courts, theater rooms, gyms, wine cellars, and pools are often unique features of a home that may make it vastly easier to sell, and can even raise the home’s value. Waterfront properties quite often demand much higher prices than a similar home not on the water, but just having water access is also desirable and raises the value of a home as well. In Austin’s everchanging luxury real estate scene, some buyers may even be most interested in a luxurious condo in one of Austin’s newly constructed high-rises, and this comes with its own set of benefits as well.
One of the most basic factors in property value is the size of the home and the land it is built on. Square footage, as well as the number of bedrooms and bathrooms, are important characteristics that every home has, and every buyer has their own individual desires and needs. Because of this, in regards to the number of bedrooms and bathrooms, there are no distinct levels of desirability in this category and it largely depends on the wants and needs of the buyer and an acceptable ratio. The main exception when it comes to size is the acreage of the parcel of land that is included with the home. Many luxury residences in Central Texas come with large plots of land and some locations obviously command more per an acre than others, but in general, a property that has less acreage than another doesn’t command as high of a price.
Austin's Luxury Real Estate Market
“How’s the real estate market?” is the number one question on the minds of most homeowners and potential buyers. Whether looking to sell your home in the near future or not, homeowners want to know that their investment is protected, but DMTX believes the question to ask is:
How’s MY Austin Real Estate Market?
Because real estate is hyper-local in nature, property value trends in Central Austin can vary significantly from outlying areas. The Austin real estate market can change from a buyer’s market to a seller’s market multiple times per year, different price segments of the market often fluctuate separately too. This might leave you wondering:
When is the best time to buy a home in Austin?
When is the best time to sell a home in Austin?
And the REAL question: What is My Home Worth?
Answer: Ask a Local Real Estate Professional
There is no shortage of places that you can “research” property values, from tax records to “Zestimates” to whatever the newest craze might be in online property valuation. Since Texas is a non-disclosure state when it comes to the sale of real property, the information you’ll gather from most of those national home search sites is inaccurate or at best, incomplete.
The truth of the matter is there is no substitute for seeking the counsel of a local Real Estate Professional. Find someone who is familiar with YOUR market and is on the ground previewing properties, and working with buyers and sellers on a daily basis. He or she will be much more knowledgeable and insightful into how the current market dynamics are affecting the value and salability of your property.
What Can You Expect to See in a CMA?
This type of analysis is often referred to as a ‘CMA’ which stands for comparative market analysis. A CMA is a brief report detailing information about what homes like yours have been selling for over the past 3-6 months. Furthermore, based on this information and the details of your home specifically, it may assign a potential price range for your home should you decide to explore a sale.
Be careful because there is a lot more that goes into finding the market sweet spot for your property than a few simple clicks of the mouse. The price derived from a CMA is somewhat subjective and can vary among agents. An agent’s experience level and familiarity with the local area can affect accuracy. Typically, a CMA prepared by an experienced agent with good knowledge of the local market is right in line with your home’s appraised value. A CMA can, therefore, be a very useful tool in a real estate transaction. Keep in mind, a CMA is not a professional appraisal.
DMTX Provides Free Home Valuations
Are you curious about what your property is worth in today’s real estate market? Fill out the form below and request to receive a free luxury homes and general Austin real estate market evaluation. If you are buying or selling a home, we can then analyze the market trends ranging in scope from all over Texas, to Austin-wide, and even neighborhood-wide to come up with the most accurate estimate of market conditions. We then combine this data with our Austin luxury home valuation criteria and get what we believe to be the most accurate market overview and therefore listing price for your property. This allows you to make an educated decision about how to proceed with the sale of your home, or bid on a potential home of interest.