Top 10 Reasons Austin First Home Buyers Should NOT Buy

April 25, 2007 | Leave a Comment

My Austin Blog today is the Top 10 Reasons Austin First Home Buyers should not buy now.

Here goes…

10. You enjoy asking permission to paint walls- it reminds you of your childhood marker and crayola crayon days.

9. The sounds of the heavy couple stomping overhead at 8am on Saturday morning is your version of white noise.

8. You just can’t live without your daily walk to the overflowing community dumpster.

7. It gives you comfort when random neighbors care enough to knock on your door and ask you to roll over because you’re snoring.

6. You really like the soothing sound of the upstairs toilet flushing as you kiss your sweetheart goodnight.

5. It brings a smile to your face to open your blinds and see the neighbor’s guilty dog doing his business on your front stoop.

4. The excercise of schlepping groceries up 3 flights of stairs saves you a bundle at the gym.

3. You really like coming home only to find your smarmy neighbor double parked in your space (again) and it is pouring down rain.

2. It’s good times gathering your family around the breakfast bar for Thanksgiving dinner!

And the Number 1 Reason Austin First Home Buyers Should NOT Buy Is…

The sound of your neighbors in love (every night) brings hope to your own love life!

Queue ta da music!

If you disagreed with 1/2 of this top 10, maybe it’s your time to finally buy.

Happy Buying!

That Real Estate Guy

Posted by Benn, Single Pointe CEO | Filed Under Blog, Buying, First Time Buyers, New Construction 

Why Austin New Home Builders & Resellers Prefer Pre-Qualified Buyers

April 20, 2007 | Leave a Comment

I am writing this speaking to Austin first home buyers, but there is a tip later for the move-up buyer, so there is something here for all.

First of all, first home buyers must understand that when we ask you to pre-qualify, it’s not always just about your credit rating.  It is well believed that a serious buyer will not only know their credit standing, but also how much home they qualify for.  So, basically, you could be out looking for a simple starter home, not even realizing that you could actually qualify for a notch above or maybe even a nicer subdivision with more opulent amenities!  Everyone loves a pool, but ooh la la- a water slide?! Maybe you could live a little closer to your work because a qualified loan officer has weighed your debts versus your income and sees the potential for an additional 10K in spending money.  At Single Pointe Realty, we call this knowing your buying power!

Your credit score (or your FICO score) is also an issue; however, it is possible to have a lower FICO score and still qualify for a fantastic rate.  More on this later…  The lender is more or less looking to see how well you manage your monthly bills; looking for slow pays, late pays, or discharges and/or judgements.  Now, many of you know how well you pay your bills, but often times we assume (out of guilt or buyer’s shame) that every late payment we make is recorded (as if all retailers are that speedy or organized).  In fact, that is often not the case, or sometimes looking at your report it may reflect late pays that never happened and you can prove it!

I can go on and on, but I think I’ve made my point that the truth is that we will not know until we look.  A great pre-qualifier can help go over the details of your report and break it down for you, create a plan for what we need to do, or discover if anything on your credit is even adversely effecting you!  Chances are, it isn’t!  But your Real Estate Agent will certainly appreciate knowing if there is a battle to be won over your credit upfront before you go out and put yourself at a negotiating disadvantage by NOT Knowing Your Buying Power!  In fact, when I lead in to begin the negotiation process, one of the first things out of my mouth is- “my buyers are qualified and are prepared to buy now for $X price.”  See how that works?  Have chills? Don’t be nervous about this part of the process, as it only strengthens your hand in home buying. 

So to answer the question of why Sellers prefer pre-qualified buyers? Because! Who wants to take a home off of the market for those who do not even know if they can buy?  In fact, they rarely will, and it changes the subject from, qualified/buying/at what price to we’ll hold it at the origional price for 72 hours while you and your agent play catch up.  Who wants that? You sure don’t!

So you’re welcome to get started on qualifying while I chat with the Move-Up buyers…

Move-Up Buyers, I cannot stress this enough- before you put your home on the market to buy a new home, it is in your best interest to also pre-qualify.  Imagine selling your home with a decent profit, only to realize you are not qualified to buy!?  It does happen.  So, when you meet with your Listing Agent to List your home, put together not only your selling strategy, but your buying strategy.  I assure you, this advice may save you one heck of a nightmare.

Happy Buying!

That Real Estate Guy

Posted by Benn, Single Pointe CEO | Filed Under Blog, Buying, New Construction, RE Practice 

Austin just continues to thrive

April 18, 2007 | Leave a Comment

Leading economists, and of course myself have already told Austinites that the state of the Austin housing economy is booming- what one has to wonder is if it is getting through that the time to buy is right now.  Waiting around for the “national” housing bubble to pop is not what Austin buyers should be doing.  You simply take the national report and know that it can happen here.  Let me translate this into regular speak- you know the streetlight is going to turn red, but that does not mean you stop at a green light or even a yellow.  You tap the brake and you look cautiously as you enter the intersection, but you proceed forward now before the light does turn red.  There, that was easy to get, right?  So now what do you do with this newly found information (the practical application)?

You get off of the fence and make a decision to buy, but you become more cautious of price, you listen to your options clearly at financing, and all of this after you’ve spoken to a qualified REALTOR; listening to where the right places to buy are (because there are many hot locations and many that are not such a good idea), and making educated decisions under their watchful eye.  I assure you, your REALTOR wants your success as much as you do, and why?  Because your REALTOR wants to be your REALTOR, your friend’s REALTOR and even the REALTOR to your children. 

Now, this sounds like just a plug for a REALTOR, but it isn’t.  I am trying to convey to you that you do not have to go this decision alone.  Buying your home should be an awesome experience, a happy time, and having an advocate in your corner will only help to ensure that that happens.

So here is the strategy I suggest you employ:

A. Find a REALTOR.
B. Discuss with your REALTOR your fears, needs and wants.
C. Listen to your advocate and make educated decisions.
D. Buy with confidence that the house you’re buying is not just a house, it is home- who cares what the housing bubble does, you’re already home!

Happy Buying!

That Real Estate Guy

Posted by Benn, Single Pointe CEO | Filed Under Blog, Buying, Market Conditions, Selling 

Part III - Spring Forward Ideas

April 15, 2007 | 1 Comment

Okay, so the last episode was mostly about cleaning the inside stuffed parts of your life, so this week I thought I would speak more about what you may or may not be doing in the yard, landscape, or the patio. So here goes:

You’re going to need to stage certain parts of your home this fall when you go on the market, so here are some things to consider-

Austin may be weird, but yeah… your home shouldn’t be- unless it is the neighborhood standard.  REMOVE THE LAWN ORNAMENTS!  I cannot say this enough, so incase you missed it the first time- REMOVE THE LAWN ORNAMENTS! And yes, this includes the statues in the landscape.  It may be cute to you, but one man’s cute is another man’s grandma- just in case, if you have plastic on the sofa, lose that too!

The patio or deck: Get rid of the clutter, make a place similar to your living space, i.e. extend your living room outdoors.  Open it up, make it inviting by adding things such as planters that will convey in the sale, a nice patio set, a barbque pit (you will get better pricing on these types of items towards the end of the summer)- things that will show potential buyers a larger living area that includes the backyard.  Remember, many first home buyers have never had a yard of their own, and this will be a very large part of their buying decision.

The windows:  It is time to make those repairs to screens and caulking around your exterior windows.  This brings me to another point… do you have a glaring sunlight problem in some of your windows?  It may be time to fix it with some fresh tree plantings. Remeber, it does not take a a giant tree to create shade, but also remember not to kill any possible view with a short tree.  Position the tree with plenty of room to stretch out and watch that nothing too large is planted too close to the foundation- this is a conversation for you and the local nursery.

Shutters:  Did you buy a home that would look good with a nice pair of shutters?  Did you know that this can be done for around a 100 bucks per set?  This one adjustment could add a lot more than that to the bottom line of curb appeal.  Trust me, the curb is where the money is made.  Look at the profile of your home, and picture it.  Need help?  Take a good photo of it, and head down to the Depot to get a second opinion.  Seriously folks, this is a one day project that could bring your home from shabby to chic!
Know your buyer tip of the week; and folks, this is a biggy. Look up!  Do you see those cheap, brass colored fixtures?  If you said yes, I’m speaking directly to you!  If you have about a day, and a couple hundred dollars, you could seriously set your home well above your neighborly competition.  It does not take a rocket scientist to replace those lights, nor the door knobs on your interior doors, nor are the replacments very expensive.  The “in” color right now is gun metal or gun barrel, depending on what your particular hardware store may call it or you could just go stainless or brushed nickle.  The makers vary, and so do prices, so shop around.  And don’t forget the front door.  If you took my earlier advice in Part I, you’ve already painted the front door; wouldn’t it look great with new hardware too?  This can cost anywhere from 59 bucks to $300, so shop around for the most economical option (don’t cheap out and skip the kick plate).  It does not take a lot of investment to bring a return.  And folks, if you’re afraid to mess with electricity, please call a professional.

The last item of the day is staining the concrete.  I want to begin with a warning however; stain means exactly that- it will stain the concrete, so plan well.  This has become very popular and well loved by all who dwell in and around Austin, but it has its limits.  I highly recommend you NOT stain your driveway.  All this does is make your driveway stand out as opposed to your hard work on the landscape (not to mention your HOA may choke and fine you big time!).  Leave that to the buyers.  However, staining the landing of your entry is a definite plus.  Leave the fancy patterns to the pros- more than likely you’ll end up staining over the pattern anyway because you cannot get it perfect.  If you have not stained your back patio, you should add this to your list.  But back to the landing- you’re creating drama here. The landing ties into the landscape, surrounded by your gorgeous lawn you’re working on now.  Done correctly, this can add thousands to your bottom line.  Last but not least, use a local pro or get advice from your local hardware store- these guys know what’s in and what’s out and can advise you in a popular direction on color, wear and tear, etc…  Staining is about a 1.5 day project spread over about 4 days.

See you next weekend for more tips and ideas!

Happy Selling!

That Real Estate Guy

Posted by Benn, Single Pointe CEO | Filed Under Austin News, Blog, Other Stuff, Selling 

Your Austin Home Search has never been easier! (from the Broker)

April 14, 2007 | Leave a Comment

In an industry that continues to do less for you, we’re doing more- as you can see by looking around the site; SPR Online has given its clients and customers an even fresher, cleaner, and faster site to peruse with more updated content and even more state of the art features to boot! 

We’ve listened to our customers and added some handy tools to help them along the way.  For example, by loading the Featured Listings page and registering as a customer, buyers can now build a portfolio!  They can pick and choose the homes that most interest them and this portfolio can be accessed by their SPR agent later when they sit down to visit or by phone!  This is helpful to the agent because your they can begin to learn more about your taste, your likes and dislikes and offer even more options.  You can even email yourself, friends and relatives an email brochure of your favorite homes! Even better, shoppers can do all of this with no pressure and on their own time!  Simply log back in and your information is still there for you! You can also easily check status of a home without even picking up the phone!  There are tons of unique and fun tools for our buyers here at SPR Online and we want to do even more! 

For our Sellers, you’re going to love what our site can do for you! Call us today for a listing presentation so that we can demonstrate our powerful listing technology!

We would love to hear from you! If you have a question, comment, even if you dislike something, let us know! This sites for you!  We’ll do our best to continue to custom tailor SPR Online to meet the needs of its ever growing customer base!

Single Pointe Realty continues to be Austin’s Leader in the Full Service Real Estate Industry, doing more, not less to serve you!

Thanks for choosing us, and don’t forget to comment!

the Broker..

Posted by Benn, Single Pointe CEO | Filed Under Blog, Buying, Selling, Single Pointe Updates 

Living in Austin Texas, why I am so spoiled

April 12, 2007 | Leave a Comment

When I relocated to Austin many years ago, I remember being so impressed with the energy I could feel, even when sitting on MoPac making my way home. I immediately fell in love with the 3pm happy hours on Thursdays, the fact that you could see folks running or walking in almost any Austin neighborhood at any time of day or night. I was amazed at how Austin’s 6th Street could go from a hustling downtown street, to completely shut down, only to be filled with 1000s of college students, Austin natives and the like. Walking around on a Friday night enjoying a giant slice of pizza and visiting with new friends was often a highlight of my week.

I truly began to wonder over the first six months I lived here if all Austin had to offer was the downtown and lifestyles scene. At that time, I had not yet ventured into the world of Austin Real Estate. I did not have a guide to the city; I only had my daily commute down Hwy 183, Hwy 620, and MoPac. That was essentially my knowledge of Austin. Soon however, that would change. One day, Hwy 183 South was shut down for whatever reason and I would have to commute down Hwy 2222 to get to Hwy 360. I had never taken 2222 before, but that one day would seal my lifelong commitment to Austin Texas. Coming over the big hill before descending into the valley at 7am after a night of rain created the most beautiful moment I had ever experienced in Austin. The valley of trees had a cloud of fog sitting heavily between each tree. I could not believe my eyes! Had I woken up in California? Where had this been for the past six months? How had I never managed to find my way down 2222. This was the exact moment I decided that I would raise my children here and even retire here. I committed myself to learning all there was to know about Austin.

Within the year, I had started hiking and biking in the Austin Hill Country, touring all of the edges of the Hill Country, experienced every festival, and that still wasn’t enough. I soon learned that Austin was not a place just to live- it is a place to experience. There was no way I could possibly experience everything in just a year. In fact, I can safely say that if you can live in Austin and say you’re bored, you’re nuts! Pick up a Chronicle and read about the multitudes of live bands playing at any given moment, or drive down any street in Austin and try out any of Austin’s hole in the wall eateries! Tex-Mex, barbeque, interior Mexican food, steak, burgers, fish; you name it, someone here specializes in it. And while you’re at it, have a beer- it seems to flow like water!

There is no way in the world I could take this awesome city for granted; on so many levels it beats any other city I have visited. The main reason is the energy I mentioned above. The energy you experience is the people. How many places in the United States can you say that flip flops are an appropriate choice for the workplace? In fact, one of the brightest minds I know showed up for work every Monday in his bathrobe holding his giant coffee mug (obviously this was not while in real estate). The guy simply worked best in his comfort zone. I remember when I moved here thinking the service here is awfully slow in some of its restaurants. It wasn’t slow, I was too fast! One waitress pointed out to me (as I looked at her impatiently for my food) to look around me, enjoy the view, enjoy my friends- that’s what their restaurant (and Austin) is all about. She was right. From that day forward, I learned the value of taking it easy and experiencing the moment. Life since then has been much more relaxed, and my personal quality of life has improved greatly.

I’ve only scratched the surface about what there is to do in Austin, so I’ve decided to have a weekly spot for all things Austin. Check back weekly for events and reviews!

Happy Living

That Real Estate Guy

Posted by Benn, Single Pointe CEO | Filed Under About Austin, Blog, Buying, Other Stuff 

Part II of: Spring Forward Ideas

April 8, 2007 | Leave a Comment

Last week, you read several suggestions on how to Think Forward when doing your spring spruce up in anticipation of listing this fall.  Rather than wait all summer to start, you can be doing things in advance that can help you add real numbers to the bottom line!

So here goes:

1) The closet(s).  If your plan is to live in the home while it is on the market, then you need to spring clean in a crazy, crazy way!  Your closets full of everything from the shoes you were born in to the dress you got at that garage sale 14 years ago that you might fit into (someday) will not impress buyers.  Remember when you bought the house and were amazed with the storage space in the home? Well, you’re moving!  Someone else needs to be just as impressed! (By the way, what if the storage was never great in the first place? Simple fix- get rid of everything but the clothes you’re wearing tomorrow!)

2) The kitchen.  Storage in this area is primo, and clutter will kill the deal before it even starts.  Like I said above, I am sure you will someday use that bread maker you got on your wedding day 25 years ago, but wow- maybe someone would use it now?  Can you say garage sale?

3) The pantry.  Are you sensing a theme?  Yeah, this needs an overhaul as well.  Think back to those days when you worked at the corner store (or shopped in one).  Face and front your shelves, organize the cans, separate the boxes, clear out the clutter.  Here’s a thought- get rid of all of those sweets you’ve been swearing off for the last three years!  The added (pantry) space will add value.  And no, I did not just say you needed a diet!

4) The garage.  Yeah, I am talking to you, guys.  It’s time to sell that old car you’ve been promising the wife you would fix and drive her down the coast in some day.  In case you guys haven’t heard, Austin has no coast line…  Anyway, clean it up and get the cars that actually start in there.

Here is a tip:  Everyone suggests you have a community garage sale.  No- have one yourself.  Why would you want to compete with your nosy neighbors as they suck up all the money?  I recommend you simply organize quietly and advertise in the paper and any other free publication you can find.  Let it be a surprise to your neighbors’ wallet this weekend!

5) This is totally off the subject of space- this is one you all overlook, but buyers zero in on every time.  If your baseboards where originally white when you moved in?  You may want to make them white again!  Pine Sol- works like a charm. 

Tip Two:  (I should charge for this- really!)  Know your buyers!  No, don’t stalk them- know where they’re coming from.  By this I mean, head out to one of Austin’s newest and brightest luxury apartment communities.  Ask to see a “made ready unit”.  When you’re in it, look at the details, such as the screws in every outlet plate that face up and down, or how about how well the carpet is cleaned, or how white those baseboards are!  This is a great place to learn what your buyers are used to living in!  Another place to look is at some new construction homes! (No, not the models- bad idea, Ill explain next week!)  This will be a healthy reminder of what your new home may have looked like when you moved in- and the new homes you may be competing with.  You can’t add a second story, but you can make it just as fresh- I cannot say paint, paint, paint, paint, paint enough.  Paint can add tens of thousands of resale dollars to a home with a serious lived in look and two kiddos!  (More on this next week, I promise!) 

Next Monday I am talking about staging- I have some really good tips for you that you won’t see anywhere else.  So don’t miss it!

Happy Selling!

That Real Estate Guy

Posted by Benn, Single Pointe CEO | Filed Under Austin News, Blog, Other Stuff, Selling 

What we need more of in the world of Austin Texas Real Estate

April 7, 2007 | Leave a Comment

We often brag about the specialists we have in house at SPR, and sometimes we find a gem outside of the firm that deserves some boasting about too- one that does something so outside of the box that we have to brag on them. We feel that in a sea of mortgage personnel, Miranda Anderson with DHI Mortgage shines the brightest as she usually goes without praise in a sometimes thankless position.

It is difficult to trust vendors outside of our firm because they have to care as much for our clients as we do, and honestly, they usually don’t- but not Miranda. Countless times over, Miranda does not do simply one thing that leads to great praise- it is what she does all the time that has me spouting her praises and how she has become one of SPR’s top pre-qualifying lenders. Miranda has consistently provided our buyers with Class A Service regardless of their buying power- this is rare in this business. When loan officers grow their business, they take on an air of being too good for the more complicated loans that got them advanced in the first place, but not Miranda- as her business has grown, she has remained the same grounded, focused loan officer. She has remained determined to carry out the SPR directive which is to provide outstanding service to everyone regardless of their buying power which is why almost every loan we do goes through her first.

When I think of all of the complicated files I have thrown at Miranda, one in particular comes to mind with some bad credit, good income, and great time on the job. Another lender said no way, but not Miranda. After discussing the file at great length, I was able to point out why I thought this buyer should qualify; Miranda took that and ran with it, building a fantastic case for the underwriter. I spent many nights working this file, but what was amazing was that Miranda worked on her side just as hard. Without her and her processor, this loan would never have been packaged with such a pretty bow! They fought for the loan even when I thought things were looking grim. I just had dinner with those buyers (now owners) last Friday night in their new home. The buyers went on and on about Miranda and how they had been treated negatively by other lenders versus how Miranda literally held their hands. That is when I realized just how little we had done to promote this valuable asset, and why I’m blogging about her today.

I’ve asked Miranda to do a weekly Q&A with our blog readers, and she has agreed. So, beginning this week she will discuss her business, what they do, and the benefits they can provide all types of buyers and also what we’ll call “the State of the Market”. You won’t want to miss it!

Happy Reading,

That Real Estate Guy

Posted by Benn, Single Pointe CEO | Filed Under Austin News, Blog, Market Conditions, RE Practice 

Win up to $1500 just for logging on to Single Pointe Realty!

April 3, 2007 | Leave a Comment

Single Pointe Realty (SPR) is offering SPR web visitors an opportunity to win $1,000, and SPR has upped the stakes even more!  SPR is adding an additional $500 to the May winner that registered through SPR in April!  Click here for more details or enter to win!  Spread the word, Austin readers!  This could pay for your movers and more!

Good Luck!

That Real Estate Guy

Posted by Benn, Single Pointe CEO | Filed Under Austin News, Blog, Other Stuff, Single Pointe Updates 

So you want a huge lot? Are you sure?

April 2, 2007 | Leave a Comment

Almost daily I speak with someone who wants a home with a HUGE lot.  Okay, this is Texas, we want all things TEXAS size.  But I am not sure a Texas size lawn is the way to go for an executive (working) family, two working parents, and a couple of kiddos.  Case in point:  I live in a semi-foofoo subdivision where the homes are moderately priced.  You would think if one could afford such a home, one might want to mow more frequently, especially when it is raining every other day.  This is not the case.  When you have a family, and you and your spouse are each working 50 hours a week minimum, the lawn looks just fine even when the grass is 1ft. high.  Pay someone to do it? Are you kidding, thats why your wife married you- to save herself 25 bucks a week!

I bring this up because yesterday I had to mow my 80 foot lot, and when I say yesterday, I mean all day yesterday!  You mow, then you edge, then you weed eat, then you clean up- oh and dont forget to get those two trees planted that my wife picked up at the Depot last weekend!  Seriously folks, this may sound like a good ol’ time, but I would have preferred a nice cookout and a couple of beers on the lawn with a couple of neighbors!  Looking back, this is exactly how most weekends are over the spring and summer.  One full day is dedicated to all things lawn!  Don’t get me wrong, I have a lot of pride in my lawn, and you will too.

So, the point of this story is simple- rather than asking for a large lot, balance your schedule instead.  How much time do you really have to dedicate to it?  And then be honest with yourself, do you really mean you want a nice lawn but a managable one?  Executive yards can be found in most subdivisions- these are lawns that are nice in size, but have less mowing area (more landscape, tree areas, larger patios).  Do yourself and your back a favor, get a lawn you can manage and spend more time out enjoying it.

Happy Buying!

That Real Estate Guy

Posted by Benn, Single Pointe CEO | Filed Under Blog, Buying, New Construction, Other Stuff