Description by owner:
Austin architect R. Earl Dillard greatly admired the California Modernist Richard Neutra and was influenced by him when he designed this house in the Balcones/Highland Park West neighborhood of Austin. The home was originally built in 1953 as a 1250 square foot, one-story, two bedroom house set into the woodland hill. Dillard, a great lover of the outdoors, laid out all the original terraces in the yard, and the house was designed to preserve the many trees that filled the property. The flat roof, extensive use of glass in floor-to-ceiling windows, casement windows, inside walls of elm and redwood ceilings all show the Mid-Century Modern influence. The outer walls are built of Mexican brick and clear grain, board-and-batten redwood siding. In 1969, Dillard added a stunning, glass-walled master suite and an architect’s office below. He and his family lived in the house for nearly 54 years.
The current owners have remodeled parts of the home, taking care to preserve Dillard’s architecture. The new kitchen is larger than the original and incorporates a 15-foot island along with pantry, dining area, breakfast nook and laundry room. Low-e, aluminum framed windows and sliding doors were added throughout the house, though the original casement windows remain. The master bathroom was remodeled and enlarged with double sinks and a large soaking tub. The redwood cantilevers under the master bedroom and deck were replaced with a new steel structure. The new ipe deck is enclosed with an elegant steel railing. Richly colored cork flooring is installed throughout the house. Interior walls are now insulated and finished with plaster or elm. The back yard, which backs up to Bright Leaf Preserve, is now terraced with field stone from the site and planted with attractive, low-water plants. This striking, vintage modern home sits on a wooded, half-acre lot and contains three bedrooms, two and a half baths, two living areas and two dining rooms, comprising 2907 square feet.
This home will be listed in March for $895,000. Contact: Sloan Houser, 512 431 2617.
Click ‘more’ to see full photo gallery.
Click photo to enlarge:
Great digs, very nice…but yikes, asking $300,000 over appraisal??? Think this one is gonna sit for awhile at that heady pricetag.
tax assessment ≠ market appraisal. you could argue that in theory it should but it never does (at least in Austin).
the reason vary:
— tax assessors can not use actual sales data unless the homeowner discloses the info
— the higher up market you go the larger the disparity (the cynics say politics, another point of view is fewer comps)
— tax assessors tools are vary crude when assessing homes (lot + configuration + square footage + quality grade). design value is left out.
— no awareness by tax assessor of interior finish
— this particular home was assessed at 2300 sq ft but it seems that it has been enlarged to 2900 sq ft
others may have more to add.
the Crestway home is in a very desirable part of town and the lot value alone is likely more than the assessed value. there is a recent comp near by; roughly the same size and also mid-century modern. about 2 years ago, it sold for not much less than this and needed a fair amount of upgrades. it was re-listed later (and sold) for quite a bit more than this home.
3941 Balcones I presume? Yeah, I guess an argument could be made for appraisal/assessment both ways (when I sold my last home, the bank did a drive-by appraisal) – I suppose I’m still just suffering from sticker shock as I’m currently house hunting in Austin, and every time a really cool MCM pops up, it’s Hollywood Hills-priced (and my budget is 700K fer crisakes – Egad!). For example, I had my eye on that Fehr & Granger on Ridge Oak in Highland Park West, but the 695K asking price just flipped my lid after I checked it out with my realtor (it was pretty run down upon inspection – but the seller kept harping on the ol’ standard “value is in the lot” jive), I was convinced it was going to drop to a level where rehab costs would be feasable at some point (as it was on the market for about a year before being relisted)…but lo-and-behold it’s pending taking backups, I was shocked! So yeah, the Austin market is pretty wacky and unpredictable, and just plain E-X-P-E-N-S-I-V-E. I just keep wondering where all this sudden influx of cash is coming from? Everyone I know in Austin is broke-as-a-joke (granted, they’re mostly all artists, musicians, photogs, etc.)!
Lol Eric. We have the same budget and taste in homes. The Ridge Oak place had a view. It may have traded in the low 600s.
Who has this cash? I think I saw the buyers. Folks in their 40s. Just a guess as they were a distance away.
From knowing the buyer of another home in the area that was in the 800s, they are in their late 50s. Empty nesters. I thought empty nesters down sized?
If this place is on Balcones it is overpriced as I think most buyer don’t want to live on a busy street. Also, it is no clear to me that the floorplan works for a family with kids. Are two bedrooms on one level and two on another?
The dead pig is disturbing. 😉
Was this alleged comp in 2009 and after?
Eric already named the comp I was referring to. It was in 2009. Also in 2009 was another MCM down the street that was listed in the same range but I don’t the details so I can’t compare square footage.
I don’t have much patience of complaints of housing pricing. It is a commerce transaction. If the price isn’t supportable in the marketplace, it will adjust.
As for living on Balcones street, there are few homes below $1M on that stretch. Clearly Mack Brown doesn’t mind the traffic 🙂
Ahhhhh the blue railing house. Not a bad house. But didn’t that have a view and a pool? You never know. That other MCM down the road traded in the 500s….no? The one that is up for lease now. I liked that house, but not the street says the mom of small kids.
Mack Brown’s house is built like a fortress, plus he doesn’t have kids who like to ride bikes. 🙂 His driveway is also on a side street so less issues backing out on Balcones.
Not picking a fight. You are right, it is hard to say where things trade right now. But, get rid of the dead pig. It is off putting. 🙂
I like the style but this house looks like a old mildew mold-infested lake house. I live in Marina Del Rey, CA and continue to look for Mid-Century homes in the Austin area but always scratch my head on some of the prices I see here in CA and in Austin. It must be the baby boomers looking for some retirement money!
I’ll hold my money and let the market continue to drop.
in Austin, the average price increased last month year over year. for all of 2009, the median price decreased 1% over 2008. if you are waiting for a large drop, you may be holding onto that money for quite some time.
Isn’t price per square foot down?
Sorry for my comment. Maybe I just want more than I can afford at the moment.
Indeed, I am sure that at least a percentage of that money (say, 6 percent?) would do *much* better in your back pocket than staying on the sidelines.
Save your money folks. You’d have to be *really* dumb, or just a willing fool to not understand that real estate is the last pit you should be hurling your money into right now. The ONLY reason ANYTHING is moving is because the government is throwing EVERYTHING it has does not have at the housing market. With that in mind, a 1% increase over 2008 doesn’t sound so robust.
The tax credit is like bug bait, entreating you to your demise by playing upon your base larcenist instincts: something for nothing.
If you are in a hurry, you will pay more.
i won’t get published as usual, but this site, or rather it’s “woe is me, i only have 700k for my purchase and this house stinks” has become a joke. a house of this calibre, on balcones, for 700k, is not a rough deal.
all the best ben.
shania.
Well, if it WAS 700K, then I’d say it WAS a good deal – it’s actually going for 895K.
After reading the responses above, I have to comment …
As an owner of a 1947 International Style home (only a handful in Austin) and an architect who has reviewed many mid-century homes in Austin, I have to say that if you do not agree with the pricing of this home, you should consider the other 3000 sf completely remodeled example of 1950’s Californian modernism sitting proudly on a half acre.
This house was intelligently designed, well crafted and now in perfect condition! The floorplan has a great flow and utilizes a T shaped plan that is perfect for the modern family. The lower study-office-lounge area is to die for and opens to a lower court. In addition, there are several more outdoor courts dispersed around the home with adjacent, opening interior spaces. If you are an afficinado of Californian modernism it is a must see!
As for pricing, the lot alone is worth $350 to $400K, leaving the value of the improvement around $500K. To build a new home with this detail would require $225+ per foot or $675,000. Many of the redwood details are no longer available. To get you hands on the exterior redwood siding or interior redwood ceiling materials now are custom orders and are very, very expensive. Basically cost prohibitive and the reason why you do not see new homes constructed of clear-vertical grain redwood finishes.
So think and be fair to those who have taken their passion and money to keep these rare architectural time pieces looking this good. As stewards and admirers, we appreciate together because we enjoy these very special homes. Keep the faith and maybe one day you can own an architecturally significant mid-century home similar to this one.
Thanks for the insight from someone who has been in the property. The flow of the property is not readily apparent from the listing.
In the end, I think it is incredibly difficult to price properties right now. I think we can all agree on that. If the house wasn’t on Balcones, I’d be checking it out.
Go ahead and check it out… It isn’t on Balcones, it is on Crestway.
Ridge Oak is contract pending, with full price back-up offer, at $318 per square foot (in vintage condition, unimproved).
Wow, 318 a square foot for that place? Crazy. It was for sale for well over a year (on and off the MLS with different realtors, etc.), and my realtor, who also works at Amanda Bullock, thought it was VERY overpriced for condition and size. I was thinking/hoping it was going to be reduced to around 550-600K at some point (wishful thinking), in which case I woulda scooped it up. I wonder if it’s going to be a teardown though? When I looked at it, the lot and view seemed to be heavily pushed (“value in the land”) by the sellers realtor, so it had me wondering. I really hope someone does a period res-tovation on it – like the uber-cool “blue railing” MCM Balcones house that was listed as a comp. And like “???” said it most certainly is incredibly difficult to price properties right now. I’ve been watching houses sit on the MLS for ages with no price changes and just scratch my head at what the sellers are thinking, I suppose if you can wait it out, that one special buyer WILL apparently pop up at some point (one house I’ve been watching forever, that has hovered at 799K for ages, is the neat kitschy mod at 5704 Lakemoore Drive – is that pad EVER gonna sell? They actually just reduced it by 20K it looks like, and apparently is going back on the MLS again soon – that old trick again). Anyway, buying a home is always a tricky proposition, and since I’m looking for my “forever home” at this point, I’m just ultra-nit-picky and pretty aggravated with the market: Is it going up? Going down? I recently sold my home in San Antonio for break-even on what I paid for it 3 years ago, I could have gotten a few bucks more, but I just wanted a quick easy sell. Does anyone have any real answers, I mean, I kinda thought we were in a recession here? But In a recent odd twist, my wife has suddenly fallen in love with a teeny-weeny Travis Heights bungalow that’s going for 356 a square foot (1400 square foot), and although I’d save a bundle of cash going for the 500K house, I think I may go insane living in a 1400 square foot gingerbread house, LOL! Okay, I’ve gone on looooong enough. But wow, this particular house sure has gotten a lot of comments! I’m anxious to see what happens.
Eric- We should really go to lunch – but you are totally my competition. I went to that Lakemore place multiple times. Didn’t like the neighbor houses and didn’t like having to drive 2222 to work everyday. I think it will trade around $700. The owners bought it in wreck condition at the height and put a ton of money into it. I think they are super hesitant to lose money. The house was very serene to me. I was agnostic on the fire pit.
On Ridge Oak, don’t fret about he price per square foot. It was approximately a half acre on a great street WITH A VIEW. For under $700K, that is not a bad deal. The house was workable from a respectful expansion perspective too.
You liked how the blue railing house was re-done? I didn’t. I actually preferred the pre-reno house. Nonetheless, it was on Balcones which is a deal killer for me.
Taking my time too as we don’t have to move. I already live in the hood. Waiting to buy my forever home.
Hahah, oh man, same budget, same taste – yikes!
I’m totally with you on the Lakemore digs, I didn’t actually tour the home, just drove by and scoped it out, peeked in the windows, etc., it was really impressive though, but yeah, that early 90’s-KB-look red brick house across the street bummed me out, I couldn’t imagine having to look at it every day, plus the long-ass drive to everything I like in Austin wasn’t too appealing, and being a corner lot didn’t appeal to me either (I have a weird thing about corner lots, having lived on one on a super busy road for several years -kept thinking a drunk driver was gonna careen into mi casa!). I saw the reno video on youtube and yeah, you can tell they put some serious cash into it.
And yeah, the Ridge Oak sale didn’t destroy my life or anything, actually my wife HATED it, the layout in general, but the kitchen particularly “weirded her out,” the bathrooms “depressed” her, and all in all she just got a “creepy vibe” from it, so yeah, no biggie. She was actually relieved when it sold as she was tired of hearing me bitch and moan about it, LOL!
The blue railing house reno really appealed to me though, I never toured the place but saw the before/after pics – it really had that ring-a-ding-ding Palm Springs/Rat Pack vibe going after the reno, kitsch for sure, and a tad studied (like a retro inspired bowling shirt), but it just made me wanna bake by the pool and drink Gin Rickey’s all day, plus it was high enough on Balcones that it seemed somewhat removed from the traffic (but I always wonder how many cars smash into residents cars leaving their driveways every morning?). I wonder how much it actually sold for?
I’m sure some cool MCM’s will pop up this summer, hopefully some in my price range though, ay yi yi!
You may be better off building a new modern home. Greener, more energy efficient, everything new, no aluminum wire, no mold and cheaper per foot (depending on finishes). Check the extra insurance expense of homes over 40 years old… unless you can document that electrical and mechanical systems are upgraded..surcharges will usually apply. Just saying.
I’ve actually toyed with the idea, and if I had more $$$ I think I would. I really like Alterstudio and Burton Baldridge’s mod work – it’s just finding a good (and affordable) central lot that’s really prevented this from becoming a reality.
You will need to go further out than “central” for a good, affordable lot. Positives can be less crime, less taxes, and a larger lot. The killer on central Austin locations are the 2.4+/100 tax rate i.e. ~25k per million. A million dollar free/NO mortgage, house cost 2k+ per month in taxes… add utilities. Not pretty!
Ay yi yi, give me a state income tax anyday!
Yes! Both Alterstudio and Baldridge have done some very excellent work.
eric & ??? : lunch? forget lunch, man…. you guys should just ditch the wives and shack up together. jesus.
I’m a lady. We would have to dump a husband and a wife, but I’m good with my husband. We actually have perfectly aligned taste in houses.
under contract.
??? 0r eric ahahaha
CJ, didn’t your mother teach you it’s not nice to gloat? 😉
FWIW- I found this place the other day on the way home from work. It was priced right for the lot and street appeal.
As an aside, I noticed they succeeded keeping it out of MLS. Does that avoid public disclosure of sale? Tax benefits from that?
A 700K window? Are you spending five to seven times annual income? That’s housing bubble jive. A house purchase should not exceed 3X income. Technically, ideally, 2x.
If you can find a lot, there are interesting modern plans for sale at Hometta.com. But in Austin proper, most lots will break the bank.
I am sorry, but give me a break…it’s only aggressive marketing/suggestion and government lending aid that makes the prices in Austin seem feasible to the easily convinced. Austin is not the Bay Area, and the Bay Area is famously grossly overpriced. It is also not Manhattan, and prices are falling there like anvils.
Look at the price of any house or lot 10 years ago. It was but a fraction of what the asking price would be today, guaranteed. You had a lot of equity vultures that moved/transferred here during the housing bubble because their windfall went a helluva lot further here than it did back West — and their company probably had a branch here in Silly Con Hills.
I totally agree bulfinch! Gold and Silver?
I am the girl who owns Lakemoore. The reason it has not sold is because it has NOT been on the market since August. We took it off (left it on the Marye Company website) because it had to be completely replumbed to the tune of 75k. Now it has all new plumbing, done from the exterior of the home. To find a MCM with all new plumbing is a dream. We are relisting it in the next couple of weeks.
As far as the house across the street goes, well, it’s just there. In any part of town there are going to be crap houses surrounding gems…it’s Austin after all.
And to respond to your “i don’t want to drive down 2222”—we do not access town from 2222. Far West (where shopping and schools are) is a 2 minute drive. This makes this home 8 miles to downtown.
As far as your assessment of value goes, do you have access to comps? 800k in Tarry Town would get you squat and 800k houses sell like hotcakes in Tarry Town.
And RV–thanks for taking the time to try to educate the masses about the cost to build a home these days. I did your math on our home and for 225 a foot, new build construction on this house would be right at 800k. A half acre view lot in this area would be 250-300.
I know people on here wish that prices were less, but there are still lots of people here with money. And older people who would “move down” to a property like this. Remember, there are plenty of people who like in upwards of 7k sf in this town. You just don’t know them.
Thanks Eileen, I just saw the comments going south about a topic of passion for many of us that are fortunate enough to own an architecturally significant home.
My goal was to explain the risk, time and capital required to restore these older homes. It hurts to see comments based on drive bys or photographs negating sales price and restoration efforts. This all causes me to say …if you do not like that one, then go by the other one. And if you can not afford it or the other one, then move on without your uneducated comments. We are a proud group!
Oh and by the way, Crestview is under contract within 2 weeks and never made it to the MLS.