Previously Thomas Bryant wrote:

Actually the homes aren't 400k.  WAYYYYYY WAAAAYYYYY under that for mine for mine with the upgraded lot.  They have gone up about 30k since then, (bought it a month ago) but subtract the prime lot (mine is bigger and overlooks trees) and you are still soooo affordable!  in the 200s actually...There are only 2 that went for 400k or up so far, but those have double lots and are very large.  So if you want a dining room, for the extra 150,000 you'd have left over after buying in Agave...well you could add one on!  

We currently live in the Mueller area and are moving to Agave.  We actually looked all over Austin for what we are getting and were looking at 400k homes til we saw Agave and were floored by it.

In addition to a house we love on an incredible lot, I have said many times that you also buy a way of life in Agave...it's like a country club...they haven't even broken ground yet on my home and I know almost all my neighbors, have been invited to get-togethers, dinners, monthly happy hours...

We have had our current home for 8 years and I know 2 neighbors.  I have only a lot with grass on it and I know about 20 in Agave.  There is a safety and comfort factor to that as well when everyone in the neighborhood knows you and how to reach you and cares.

There is something to be said for that. The excitement, the commonality, the all-modern mindset...it brings some other things with it.

We actually could afford more but would never trade out of Agave; and adore the home already.

Just my 2 cents

Actually, The homes aren't 400k,

Modern or not, eventually you get into a price range that certain things are really needed.  At 400K, modern or not, there is an expectation of a dining area that is not shared in a common space.  And no offense, but the area is pretty cookie cutter modern.  There are 5+ copies of the same house, some next to each other, so you cannot expect to have something unique.  While I love a lot of the designs, there is absolutely no reason to pay that much money for things that are lacking important factors for a home in that price range.  Designers may think that a formal dining room will go away, but the idea it is not shared with other areas and we don't live in the future.  We live in the now, and people generally expect more.  We will just have to agree to disagree on the value of that area and the quality of what goes in those homes.

Previously Alana Chandler wrote:

Check out the Casa Bella 1590, It is common that many modern homes have areas that overlap...this flows from the kitchen to a very large dining area suitable for a massive table, into the living room...

oooo...wait, they aren't building that one anymore.  They retire certain plans after they build a few of them so that the neighborhood isn't cookie cutter...

I'll keep thinking on it...

I will add that the builders convention did note that the two areas that are expected to be eliminated in "homes of the future" due to the decreased desire now are livingrooms and dining rooms...people are just having "dining areas" rather than "formal and informal"...kind of making their everyday dining a bit formal, but somewhere in between.  Probably doesn't help you now if you have a dining suit you wish to keep!

And considering Villa Muse is going in as a neighbor to Agave which is, essentially, planned to replace Hollywood...well, it even strengthens that argument. It's 700 acres of upscale and new schools...

and Hollywood land aint cheap...so...if it does work as planned...

woooo hoooo! EQUITY!

Villa Muse breaks ground in 2 mos.

allow me to illustrate my logic around the issue. I came to Austin to find a property around 200-250K When I was shown agave I was very much attracted to it for all the same reasons you are.When the price went from high 200s to mid 300s for my design and lot, I immediately became shocked and felt as though i was being taken for a ride. Then I contacted about half a dozen investors, real estate agents, did my homework on Austin's projected population growth, building prospects in the next 4 years east of 35 as well as the condos downtown that start at 300-500K

Then I decided 300-350 I could stomach. It will acquire value and Austin will not get any cheaper period. I am told the plan for downtown as it have about 25,000 people per block in the next 8 years. Considering the location, the type of people who will live in this area, the price will only rise.

Yes you can get a very nice place for 400+ but time has changed expectations and builders requirements. Your expectations must change with the increase in price and value as theprices go higher you will start to see the poverty east of 35 slowly be moved out and replaced by houses that are even smaller and older than agave with the price of what we are paying now.

Austin isn't shrinking and prices won't drop unless there is a national economic disaster, which is possible given our leadership but unlikely. The 7-10 minute drive to get to UT and downtown will insure this to be a popular area. Hopefully allteh build quality issues have been resolved and the workers will have a renewed committment

I agree with the above posters. We looked at agave and were not impressed. My thoughts were that Agave was the same as  many other new McContractor zones, save for more green building. My instinct tells me it's mostly 'shtick' to sell homes. Some great builders but all are charging a premium for the Buzz of Green. I love some prefabs, but at that price tag, its counterintuitive. Behind it all are the same/ similar developers who are making big bucks on the 'green' trend...

I'm not trying to be negative, just my instincts- I'd rather 'green up' an older home or urban space instead of razing more land for green tract suburbia.

Fact - the Austin market is feeling the affects of the "national" (CA,AZ,FA,NY,MA,IL,NV mostly) down turn. And there is way too much new development for anyone to see short term gains in Austin real estate when they are paying "retail". There was almost a 50% drop is home sales in September and around a 40% drop in October when compared to last year (Austin MLS stats for entire Austin metroplex). The good news is if you are looking to buy, we are approaching one of the best times in three years and Austin is and will continue to be one of the best real estate markets in the country.

 I think Agave is a cool development, but the only reason to buy there is because it is cool and new, not because you plan to make money from appreciation (at least not for several years). A better bet from a money standpoint is to look for something that has been well renovated in an estblished close in neighborhood, i.e. University Hills, Vintage Hills, in the East. To the northwest look in the McNeil Parmer area. You can find a cool ranch and really fix it up, plus these areas are still seeing less than 2 months supply of good homes.

A few predictions: 1)The downtown condo market will weaken as sales (often only reservations) fall off and ready inventory peaks.

                             2)Out lying markets like Kyle, Buda, Cedar Park will see large numbers of foreclosures in newer "open price point" 

                             markets. What a great time to buy some rental properties!

                             3) Look for an average price reduction this time next year of around 8%.

Sorry to ramble!

Is there anyone living in Agave right next to the train tracks. We are
thinking about buying out there any many lots are sold so there are
fewer choices and we are looking at the lots right next to the tracks. 
Any feedback would be appreciated.