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People are moving to Texas in droves, and the Austin real estate market is no exception. The city boasts a thriving cultural scene full of the world’s leading restaurants, live music venues, plus, low taxes and a booming local economy.
With a highly desirable location complete with big-city entertainment surrounded by natural beauty, moving to this fun, hip metropolis is a no-brainer for many looking to head to the Lone Star State.
To provide an insider perspective on Austin’s real estate market, Michael Weigand, Broker Associate and team lead for Culhane Premier Properties Group, made himself available and shared one of their most exciting, jaw-dropping homes to hit the open market yet.
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“It’s been… ‘bananas’ is probably the best word,” Michael Weigand laughs when discussing the Austin market’s rapid growth. “I’ve lived here 27 years, and we’ve seen astronomic growth in the last 18 months.”
The average price point and overall interest level and demand have gone through the roof. As Weigand explains, the average sale price a year ago was in the $430,000 range, and now it’s closer to $575,000. Additionally, the average number of days spent on the market for property in Travis County has dropped from 25 days to only
13 days.
“Austin has always been a desirable place to live,” Michael says. “I meet a lot of people who aren’t from Texas and have made it home.”
Many of these newly-minted Texans are coming from Northern California where property values are significantly different. Compare owning a 1,900 sq. ft. home in Silicon Valley that carries a $3 million mortgage, then coming to Austin where you can own a 3,000 sq. ft. home for just over $1 million.
Due to the historically low interest rates over the past year, there’s been chatter over low inventory, especially in Austin. However, this one masterpiece on Lake Travis is just hitting the market and serves as the ultimate example of a must-see home.
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Situated right on Lake Travis, this modern and elegant newly listed home at 6100 Lantern View Drive is the ultimate in home design.
The designer, Tricia Pool, detailed the home’s unique features. “I always feel I can’t find what I want in a home,” Pool says. “That’s why I end up designing them myself.”
Pool has been in new construction design for the past 25 years, and together with her husband, Carl, founded Grace Custom Homes, the builder of this exquisite property.
A culmination of their wealth of experience, the home features over 9,800 sq. ft. of living space with 7 bedrooms, and 9 bathrooms.
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The finished outcome is stunning, furnished with the finest interior décor, much of which utilizes one-ofa-kind custom-made pieces.
On top of being an investment in the future of Austin real estate, the property would make an unbeatable getaway retreat as a second home. The clean, modern exterior evokes a hint of industrial flair to give it an original charm that balances out its monumental appearance.
Upon entering, glamor exudes from every nook with chic fixtures and opulent chandeliers, striking a balance between homely and palatial. The sandy wooden floors complement the tonal patterns throughout, and this home is complete with a gorgeous kitchen with a custom oven, hood, and electrified wood shelving, consciously constructed with striking cabinetry and surfacing. The master bedroom features a private fireplace, spacious shower, ample closet space, and a separate balcony with a breathtaking view of Lake Travis.
Family-friendly and ready to host large groups of guests, the open floorplan is perfect for entertaining. The backyard complements the scenery of Hill Country and open water by featuring a sleek outdoor kitchen, complete with an infinityedge waterfall pool that holds two hot tubs – one for kids and one for adults – with seating in the middle.
Additional features of the home include a 10-seat theater room with a pin light ceiling, an elevator for ease of access between floors, multiple guest suites with an in-room kitchen and bath on the first and second floors, a game room, gym, wine room, and two 2-car garages. Plus, full automation is built into the home, with surround sound throughout (both inside and outside), ideal for large gatherings.
The Hollows neighborhood where the home is located is on the north shore of Lake Travis, under 30 minutes from Cedar Park. One of the biggest advantages of The Hollows is having its own, centrally located, deep water marina. The property on Lantern View Drive includes 226 ft. of waterfront shoreline on over 2.75 acres of land.
As for Lake Travis, there are only about 60 miles of shoreline, making waterfront lots on this lake hard to come by. With location being the gold standard of real estate and waterfront property in Austin being limited, this level of scarcity and desirability bodes well for property values continuing to trend upward.
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The unique lifestyle offered in Austin is hard to beat. Frequently voted one of the greenest cities in America, Town Lake flows through the middle of the city, allowing a chance to engage in outdoor activities that include walking, cycling, canoeing, and paddleboarding.
When you consider the relatively low cost of living compared to other major metropolitan markets and the economic opportunities in Austin, it becomes difficult to find a negative about the area.