Rotan/Hot Springs Dr (SW Austin) (West: for sale, loan, houses)

[Trainwreck20]

Anyone familiar with this loop of roads just off of Escarpment near Convict Hill? I was out there for a birthday party for one of my kids, and was surprised by the size of the lots for that part of town. I put an image below that shows that area (on the left) and the bulk of Legend Oaks/Western Oaks to the right. You can see the difference in lot size. TCAD appraises all lots in the area as $50k, so I am assume any difference in appraised value would show up in the improvement portion. Most (all?) of the lots are larger than 1/2 acre, with some up to 1 acre. Currently, most of the 'outside' houses on the loop back up to undeveloped land, although I do not know if there is any restrictions that would prevent development.

Anyway, nothing for sale out there, and the neighbor told me that they thought the last couple of sales were via word of mouth and not through the MLS. They said that during the original platting, the city limited the number of homes due to water line restrictions, so the developer increased the lot size (and home size). The houses were mostly built around 1999, 27 on Rotan and 30 on Hot Springs. I don't see any sales out there, but were wondering what the value of those homes might be?

[sojourner77]

Here are some snapshots

[Trainwreck20]

Snapshots of what, though? Are those actual prices or just listed prices?

The 6737 home is listed in the second thumbnail picture as $467k in March of last year (the most recent sale from the picturs), but TCAD has it appraised at $414k. Either it sold for a lot less or TCAD is just way off.

The house right below it is the next most recent sale (Jan 13) and is shown as $398k. 6629 Hot Springs is shown on TCAD as $397k, so either TCAD is spot on and the house has not appreciated in the last two year, or there is a significant sales price and/or TCAD difference.

The next newest listed sale is July 2012 for 6613 Hot Springs at $470K. TCAD has it for $456k 2.5+ years later.

3,016 ft2 (2 story)
2,554 ft2 (1 story)
3,337 ft2 (2 story)

[sojourner77]

Originally Posted by Trainwreck20

Snapshots of what, though? Are those actual prices or just listed prices?

The 6737 home is listed in the second thumbnail picture as $467k in March of last year (the most recent sale from the picturs), but TCAD has it appraised at $414k. Either it sold for a lot less or TCAD is just way off.

The house right below it is the next most recent sale (Jan 13) and is shown as $398k. 6629 Hot Springs is shown on TCAD as $397k, so either TCAD is spot on and the house has not appreciated in the last two year, or there is a significant sales price and/or TCAD difference.

The next newest listed sale is July 2012 for 6613 Hot Springs at $470K. TCAD has it for $456k 2.5+ years later.

3,016 ft2 (2 story)
2,554 ft2 (1 story)
3,337 ft2 (2 story)

the snapshots are sold prices. The dates when sold are included.

Traviscad appraised value is usually less than market value. I would venture to guess about 80% of market value.

[CptnRn]

I am familiar with the area, only in that my wife and I used to walk through that loop for exercise. Its a nice area, and the lots are very large. The vacant land to the south has a dry drainage creek running through it, so most of it would probably have to remain a greenbelt.

[sojourner77]

I would also venture to guess that if the houses are sold off the MLS, then the comps can't be used for loan underwriting, which would suppress the value of the houses, unless cash buyers came in and made the sales price public.

[Trainwreck20]

the snapshots are sold prices.

What site is that on and where did it get the sold prices? Does it have access to the MLS?

[sojourner77]

Originally Posted by Trainwreck20

What site is that on and where did it get the sold prices? Does it have access to the MLS?

Yes, they are from the MLS. I can't say the name of the site due to the TOS, but it starts with an 'R' and ends with an 'N'.

[Trainwreck20]

Hmm....our house does not include our sales price, but maybe that is too far back for them (2000). It does have a few funny statements in the description:
-The closest grocery stores are H-E-B and Gwf Business Solutions;
-Nearby restaurants include [...] Paqui Tortillas [...] (That is the main office for a company that sells chips)
-There are excellent bike lanes and the terrain is flat as a pancake. (Those would be some interesting pancakes)

I guess if we were actually selling our house, a better description would come up. But entertaining nonetheless.....