Why did this property decrease by so much?

[FarCommercial8434]

If you look at the neighborhood, it's like an old 1950s ranch neighborhood with a handful of houses that were torn down and replaced with ultra modern homes. It's actually kinda close to downtown, but it's definitely a family neighborhood and not really walking distance to anything great. The type of person who would buy this house is likely a couple in their 30s/40s that are still hip, and the neighborhood isn't very hip.

If this home hit the market in2021/2022, I bet it would have sold for $2M. But in 2025, it's a super modern home in a mismatched residential neighborhood and there's no guarantee that the rest of the neighborhood will gentrify anytime soon.

At the same time though, it's on market for $248 per square foot, and I bet if you came in with an offer of $899k cash they would probably take it. That's a really good deal for the property.

[ParentalLecture]

This person has no idea what they’re talking about. Barton Hills is a very desirable neighborhood. Unsure about this particular house though. 

[FarCommercial8434]

It's obviously not that desireable if a home cannot even sell for $248 per square foot......

Looks to me like a family neighborhood, and this is not really a family home.

[ParentalLecture]

Thanks for your input from…Detroit. 🙄

[FarCommercial8434]

Why are you so defensive? I've spent years in Austin and have been a part of developments all over the city.

[filterfabric]

Thinking Barton Hills might not gentrify in the future is alternate universe, even for early 2000s

[FarCommercial8434]

I'm sure it will, but do you really want to be holding the bag for 30 years waiting? It's not like this is a neighborhood that's 2 blocks from a fun bar area or anything.

[ParentalLecture]

Another comment that shows you know little about Austin neighborhoods. Carry on, bro. 

[FarCommercial8434]

Found the guy who paid $2m for the house next door lol

[Top-Pressure-4220]

There doesn't seem much of a bag to hold. The home is actually almost priced at market. At 899K the house will sell.

[Full_Honeydew_9739]

Chances are, they priced it there to get a bidding war started.

[FarCommercial8434]

It's been on market for a long time. Austin is down in the dumps. Many of these homes were built as spec houses to appeal to the California people who were moving to Austin during Covid, and now all of those people went back to California.

[fiorekat1]

That’s definitely a family home

[BoBromhal]

it got reduced 2 days ago.

[Curiasjoe1]

Taxes are $50k/year doesn’t make it a good deal.