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Wayne Lusvardi
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I’m from California, but listening in to the conversation you missed Gretchen Gardner’s website “Gretchen Makes Art.”  She is a native Texan and fine art’s major from U.T. who apparently makes a living painting pet portraits.  Gardner’s self description: “I live, paint and eat cupcakes in Austin TX with 2 dogs, 1 cat and a mortgage.”  For employment history she lists: “artist.”
 
Zillow estimate her 1-BR, 1-Bath, 1,008 square foot home built in 1934 on a 16,552 square foot lot is worth $525,000, or $520 per square foot!!!  The median list price home in 78704 is $539,000.
 
Home prices dropped in the Bouldin neighborhood in 2011 from $385,000 to about $310,000, then they climbed back up to $385,000 level in 2012, and now are hovering around $415,000.  Gentrification is the apparent reason for the upward price trend because the housing stock is old. 
 
In California we have what are called “underwater homes” with mortgages higher than their market values.  In Austin 78704 there must be “overwater homes” with mortgages way under the market values as prices are rising because buyers were willing to overpay to get into a trendy neighborhood.  Now the tax bill is coming due.
 
Austin, like much of California, has land use controls (open space preserves, city incorporation restrictions, zoning) that restrict the supply of new homes while demands increases. 
 
Wayne the appraiser from California
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I’m from California, but listening in to the conversation you missed Gretchen Gardner’s website “Gretchen Makes Art.”  She is a native Texan and fine art’s major from U.T. who apparently makes a living painting pet portraits.  Gardner’s self description: “I live, paint and eat cupcakes in Austin TX with 2 dogs, 1 cat and a mortgage.”  For employment history she lists: “artist.”
 
Zillow estimate her 1-BR, 1-Bath, 1,008 square foot home built in 1934 on a 16,552 square foot lot is worth $525,000, or $520 per square foot!!!  The median list price home in 78704 is $539,000.
 
Home prices dropped in the Bouldin neighborhood in 2011 from $385,000 to about $310,000, then they climbed back up to $385,000 level in 2012, and now are hovering around $415,000.  Gentrification is the apparent reason for the upward price trend because the housing stock is old. 
 
In California we have what are called “underwater homes” with mortgages higher than their market values.  In Austin 78704 there must be “overwater homes” with mortgages way under the market values as prices are rising because buyers were willing to overpay to get into a trendy neighborhood.  Now the tax bill is coming due.
 
Austin, like much of California, has land use controls (open space preserves, city incorporation restrictions, zoning) that restrict the supply of new homes while demands increases. 
 
Wayne the appraiser from California
Add a comment...

Post has attachment
I’m from California, but listening in to the conversation you missed Gretchen Gardner’s website “Gretchen Makes Art.”  She is a native Texan and fine art’s major from U.T. who apparently makes a living painting pet portraits.  Gardner’s self description: “I live, paint and eat cupcakes in Austin TX with 2 dogs, 1 cat and a mortgage.”  For employment history she lists: “artist.”
 
Zillow estimate her 1-BR, 1-Bath, 1,008 square foot home built in 1934 on a 16,552 square foot lot is worth $525,000, or $520 per square foot!!!  The median list price home in 78704 is $539,000.
 
Home prices dropped in the Bouldin neighborhood in 2011 from $385,000 to about $310,000, then they climbed back up to $385,000 level in 2012, and now are hovering around $415,000.  Gentrification is the apparent reason for the upward price trend because the housing stock is old. 
 
In California we have what are called “underwater homes” with mortgages higher than their market values.  In Austin 78704 there must be “overwater homes” with mortgages way under the market values as prices are rising because buyers were willing to overpay to get into a trendy neighborhood.  Now the tax bill is coming due.
 
Austin, like much of California, has land use controls (open space preserves, city incorporation restrictions, zoning) that restrict the supply of new homes while demands increases. 
 
Wayne the appraiser from California
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