Welcome or Register

Quick Search


view all


Any

Any

No Min.

No Max.
Bill Morris
RE/MAX Capital City
13018 Research Blvd
Austin, TX 78750

Direct or Text: 512-785-3345
Email:              bmorris@remax.net

Texas Broker License # 505218

We take pride in our homes.  For most of us, our home is our largest physical and financial asset.  It's where we spend time with friends and family, where we may go for peace and quiet, and where we spend a lot of our hard-earned money.  It is much more than shelter, more than a residence.  It is "our place," with all the physical, mental, and emotional ties that implies.

Investment real estate shouldn't carry the emotional attachments of a home, but it can be a critical source of income and financial growth.  Financial assets -- stocks, bonds, etc. -- are an important foundation for many investors.  Real estate can provide more stability, current income, and predictable long-term growth.

I represent both buyers and sellers of residential and investment real estate throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs:

  • My relationship with a home seller begins with a thorough understanding of the client's objectives, needs, and timing. My ongoing analysis of properties and market areas throughout Central Texas provides the basis for a comprehensive analysis of each client's home.  Price consultation, property preparation and staging, and broad promotion of each property follow, and frequent communication -- showing feedback, market updates, and ongoing advice and counsel -- round out a successful listing engagement.  As a starting point, just ask me for a FREE Market Analysis. That may answer your immediate questions, or it could become the basis of a more comprehensive discussion.  That choice is yours.
  • My approach to buyer representation is also full service – shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction.  Looking for a new home?  Use Quick Search or Map Search to browse an up-to-date database of all available properties in the area, or use my Dream Home Finder form and I'll conduct a personalized search for you.

In both roles, honest advice and clear communication are what my clients expect.  The fact that more than 90% of my business is with repeat clients and their referred friends and family is a sign of success in meeting those expectations.  Client ratings that earned my selection for 6 consecutive years as a Five Star Professional -- representing less than 7% of Central Texas agents -- are also very gratifying, and humbling.

As you consider selling or buying Central Texas real estate, you'll find a lot of information on this website that can help.  Much of it is updated regularly, so come back often:

  • National and regional Market Trends is a thorough monthly e-newsletter you'll enjoy.
  • Average Mortgage Rates are up-to-date weekly.
  • As often as time allows, I update My Thoughts ...  on topics that I find important and interesting.
  • You'll also find regular market news on my Facebook and Twitter pages.

You'll find a details About Me and my approach to the practice of the real estate profession, and about why I am proud to be affiliated with RE/MAX and RE/MAX Capital City.

My business and personal experience tell me that service is the key to success and I look forward to serving you.

 

My Thoughts on Central Texas Real Estate

Affordability in Austin’s “urban core”

For the skittish:  This post includes some price data that will make some readers believe they’ll never be able to live in Austin.  While it is true that housing inside the city of Austin has become relatively expensive, living in the Austin Metropolitan area is still do-able for most.  See So how much does housing cost in Austin? (Part 1) and So how much does housing cost in Austin? (Part 2) for a more complete look at home prices in Austin and many nearby cities and towns.

For this article I’ll focus on the broadest definition of the “urban core” that I’ve seen.  Downtown and the UT area are unique market areas in their own right, but for a view of “close-in” Austin I watch the area bounded by Ben White Blvd on the south, Loop 360 on the west, and US 183 to the north and east:

Urban Core Map 031416

In that area, the average sale price of a single family home in 2015 was $584,278.  (All data from the Austin/Central Texas Realty Information System, the Austin-area MLS.)  The median  price was $453,641.  So how much does housing cost in Austin? (Part 2) showed that the city-wide average consisted of a wide range from Southeast Austin to West Austin and Westlake, and even those averages obscure area-specific high and low extremes.  The urban core includes a wide variety of single family homes, low-rise condos and townhouses, student housing near UT, and high-rise residential space in and around downtown Austin, and so is a good sample of our housing stock

An interesting feature of residential prices in the urban core is the extreme differential between single family homes and condominium/townhouse-style living.  In the same area, the average sale price of condos last year was just $349,656 (median $275,000) — 40% lower than single family properties!  Yes, condos tend to be smaller, and the price per square foot is comparable ($323 vs. $313), but smaller is very appealing to many folks who want to live in or near the central city.  Even more interesting is that townhouses — the very few that we have — sold for an average of $402,989, or just $230 per square foot. The median price of a townhouse last year was $385,000, for average floorspace of about 1800 square feet, very near the average single family home.

This table summarizes that price data, and more:

Property Type vs. Price & Affordability

Inventory (i.e., months’ supply) was about the same for all three property types, and time on market was very close.  The difference was in the relatively low number of more “affordable” condos and townhouses that were available for sale.  That points to one possible contribution to improving affordability in Austin — allowing more variety in the new housing stock added across the community.

There is an important project going on in Austin, called CodeNEXT.  That’s a subject for another day, but the short version is that the city plans to redesign a land development code that has roundly been criticized as one of, if not the, most cumbersome and confusing codes in the United States.  Done properly, the new code will allow the amount and variety of new housing stock to be improved city-wide — from adding “accessory dwelling units” (e.g., garage apartments, alley flats, etc.) at existing homes to respectfully blending condos, townhouses, garden homes, and even small multifamily properties and micro-apartments into existing neighborhoods.

I do not advocate building those homes just for the sake of building them, but a development code and permitting process that would allow the market to lead the way would be a real improvement.  Land value in the urban core is not likely to decline, so other than a few public policy tools that I’ll comment on in another post, the path to more affordable dwelling units in the city depends on increasing density and/or decreasing floorspace per unit.  In 2015 the market demonstrated demand for those options, and variety can be added without disrupting neighborhood character.

 

Leverage your support of local needs

Most of my clients know that I give part of my proceeds from every closing to charity — specifically, Children’s Miracle Network and Hope Alliance.

I have contributed to CMN since my first day in the real estate business.  Those donations go directly to Dell Children’s Medical Center here in Austin.  If this is a cause that you’re passionate about, please join me.

A few years ago RE/MAX Capital City chose to support a really great local cause — Hope Alliance — and I began immediately making matching contributions there, in addition to continuing support of  CMN.  I’m proud to support these organizations year-round, but we all have an opportunity to have even more impact next week.

Through Amplify Austin all contributions made between 6 PM on March 8 and 6 PM on March 9 will be matched — multiplying our collective ability to help our community.  CMN and Hope Alliance are both beneficiaries of this important program, as are many other non-profits and service organizations.

Next Tuesday evening or Wednesday, please visit Amplify Austin, choose the cause that’s important to you, and leverage your power to help others in the Austin area.  It’s the right thing to do.

 

View All

Testimonials

“Bill helped me through the worst buying transaction I’ve ever experienced. Dealing with the seller and his agent was a nightmare. There’s no way I would have gotten through it without Bill’s help.”
“We had a great time looking at properties with Bill. It took us a while, but with Bill’s help we succeeded in getting our dream home, and made a new friend in the process.”
View All