🤠🏡 Selling Austin #26

Welcome everyone! Happy Friday!

Pay attention to an elusive deal in Zilker 👀 and upcoming interest rate cuts ✂️ 

WHAT'S INSIDE

• 👀 DEAL OF THE WEEK

• 🔢 THE DATA

• ⁉️ WHAT THIS MEANS FOR YOU

• 🤤 HOUSE WORTH DROOLING OVER

👀 DEAL OF THE WEEK

Typically the words “Zilker” and “good deal” don’t go hand in hand. Buyers typically pay a premium for one of the most coveted neighborhoods in Austin.

Quick refresh:
One of the most straightforward ways to evaluate if a property is a “good deal” or not is by looking at the price per square foot (ppsqft). This metric allows us to compare previously sold houses in the same neighborhood with current listings to judge relative pricing.

1901 Blue Crest #1 is our elusive deal:

• has the lowest ppsqft of all active listings in Zilker at just $532ppqft

• comparing with the next door neighbor, 1901 Blue Crest #2 - they closed on their 1,050 square foot home on 04/2024 for $873ppsqft!

• the median sold ppsqft in Zilker over the last 12 months is $726ppsqft

But wait there’s more!

This property has been on the market for 120 days. Poor timing and poor pricing when it initially hit the market ($1.49M original list price).

That is great for us because it’s time to negotiate.

Current list price: $1,299,500
Kirtana’s suggestion: $1,150,000 = $471ppsqft

Want to tour this property? Shoot me a message here.

🔢 THE DATA

I’ve always said that keeping up with the Fed is a full time job.

Here’s the scoop:

The first rate cut in 4 years might be heading our way in September.

Fed Chair Jerome Powell said, if inflation continues to fall “a reduction in our policy rate could be on the table.”

Okay, great. One big rate cut, right?

Powell could not be less clear here. It is almost impressive at this point.

He says, “I can imagine a scenario in which it would be everywhere from zero cuts to several cuts.”

Wow. Helpful. What are the experts saying?

Financial market traders priced close to 100% odds that the central bank would reduce its rate in September.

Psst: experts can be wrong but this is the strongest indication of a cut we have received from the Fed.

TLDR please:

• potential rate cut in September

Read more here.

⁉️ WHAT THIS MEANS FOR YOU

If you’re a buyer/seller/investor/renter or just interested in real estate - this weekly newsletter will help guide your decision making and help you better understand the market.

🤤 HOUSE WORTH DROOLING OVER

This Lake Austin home is a dream. 3+ acres and directly lake access. Sometimes you need 8,000 sqft and I understand that.

Yours for: $16,960,000

Thank you for being here! Reply to this email if you have any questions or just to say hello! 👋 

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