Looking for a brand new home in the northern suburbs of Austin for under $500,000 that’s move-in ready? Better look quick and a good place to start might be in Crystal Falls in Leander / Cedar Park. Hindsight is 20/20 as the saying goes and right now may be the best opportunity a buyer has to snag a brand new home at a great price, big enough to spread out in and grow roots for a long time to come without having to go through the construction process or possibly even wait for a lot to come available.
Lot Inventory Shrinking
According to the Austin American Statesman article published July 6 and quoting Bill Hinckley, president of the Lookout Group Inc., a Texas-based real estate and investment company that is Crystal Falls‘ master developer, every builder he knows in the area is scrambling around looking for lots to buy.
Also quoted in the article was Terry Mitchel, a local real estate developer who said that with a 6-7 month inventory of new and existing homes for sale there is no excess housing inventory here and with 2000 lots currently available to build on in the area, inventory is being depleted faster than it can be replaced. He believes there may be evidence of a tighter housing market here as early as 2011.
Right now there are 23 new homes for sale in Crystal Falls. They range in size from 2300 to over 4000 square feet and in price from $345,000 to over $700,000. With most of them having 4 or 5 bedrooms and three car garages, they’ll make a great home for any growing or large household. The amenities in Crystal Falls are excellent and many of these homes offer hill country, greenbelt and stunning panoramic views.
There are several builders in Crystal Falls including David Weekley, Perry, Mercedes, Drees and Highland Homes, so buyers have many options and floorplans to choose from. Also, Taylor Morrison Homes has just completed a purchase of 1200 lots in the Highlands at Crystal Falls. They estimate that they will begin construction in September and that their new homes will range in price from $200,000 to over $600,000.
Best Time to Buy
Buyers looking for a new home, take advantage of this opportunity to pick and choose what you want without going through the hassle of construction, get it for a comparative bargain, and secure historically low financing. There is evidence to indicate this may not last much longer.