Round Rock Named 7th Best Place in US
September 27, 2008 | Leave a Comment
Round Rock in Top Ten
According to CNNMoney.com’s “Best Places to Live 2008,” Round Rock ranks 7th in the nation among small cities in which to live, the only city in Texas to win a mention. Round Rock is appealing on many levels from affordable housing, the Round Rock Independent School District, booming retail and commercial real estate, a new Tollway which goes directly into Austin, and Dell’s Headquarters in the city. Round Rock is home to a branch of Texas State University, the Round Rock Express baseball team, the awesome IKEA and Prime Outlets.
The median home price is $193,931, job growth has risen just over 45 percent between 2000 and 2007, and family purchasing power is at $101,381. Take a peek at the available homes in Round Rock by clicking here and on the left, search for Round Rock’s primary zip code “78664″ and click around to see houses for sale and their pictures!
Austin Lending, Zero Down & Home Buyers
September 25, 2008 | Leave a Comment
The lending world is changing
As you may or may not have noticed, the credit market is in trouble- as we speak, lending guidelines are changing by the minute, depending on the loan program. But never fear; when it all boils down, what you’re left with is this simple truth- lenders lend.
What you should know
The days of zero down home loans isn’t over completely, there are still down payment assistance programs available, but timing is crucial. Depending on what you’re buying, you will need to pre-qualify now more than ever before you even begin the process of serious home searching.
The state and local governments still have grants available and have increased the income guidelines right along with FHA increasing the loan limits on homes. This means that Austin home buyers still in the market for zero down loans can still buy, however, the money for grants is limited and can virtually vanish overnight. What we’ll need to do is get you pre-qualified and get your file in line for the grant. Our lenders will advise us on how to time your transaction. So with a little pre-planning, zero down is still a possibility. The alternative is that if you are going to go for a FHA or Conventional loan, you should be prepared to make a down payment- we can advise you of the amount at the time of your pre-qualification.
The Credit Score Facts
Under certain loan programs, we can still approve Austin home buyers up to certain limits with a 580 score or better. Anyone with less than a 620 FICO score may pay a slightly higher interest rate, but not always- absolutely no late payments over the past 12 months are being approved at this time even with letters of explanation, but we expect this to soften over the next few months. We’ll update you as situations in lending change.
This information pertains to Texas
The information we’re providing you here today is designed for buyers in the Austin and Texas markets and is not for the national audience. In your state, you should seek out council from your local Realtor or mortgage lender. If you need guidance, please feel free to call me, I’m happy to refer you out- I personally know lenders and fantastic agents all over the country that will be happy to help you in your market.
Closing dates
This one is a real pain in the rear and bugs us more than the lending guidelines changing, and the reason is that the anxiety a home buyer faces trying to get to closing can really be stressful for all parties. What we’re telling our home buyers is that all dates are soft but only to a point. Our Austin lenders are professionals from start to finish and know how to lean on the process as well as when they shouldn’t. When applying for large sums of money, we have to remember that the underwriter really needs to do their due diligence and we’re seeing closing dates exceeding 30 to 45 days. We’ve not seen anything residential take more than 60 days unless the file was really complicated which is a small percentage of transactions for our lenders- like I said, we work with the finest in the country.
Going it alone
I must warn all home buyers working this alone or home sellers selling on their own and working with unrepresented buyers. Beware. Do your homework, study everything you’re signing, and proceed cautiously when anyone is selling you anything simple about the complex market we’re in right now. Rent-to-own home products are popping up all over in place of mortgages in an effort to bypass lending as well as loan products that prey on the unsuspecting. Please take great care in going it alone- the sharks are out in full force.
A note to Austin home sellers
Sellers are asking nearly every day if the credit market will create buyer problems and the answer is yes and no. Obviously, lending is a little more complicated, but the buyers in our market today are well qualified and cooperation with these buyers is a must, as with less lending packages creating incentive to buy for all buyers, there are a few less buyers in the Austin market. So, all offers should be considered seriously.
In Conclusion- should I buy now?
If I were in the market for a home right now in Austin, I would buy a home. Interest rates are down again, FHA fee reductions and retooling, home prices are steady, price reductions by motivated sellers are abundant- the Austin market seems calm and cool waiting on the rest of the country to figure things out.
We’re always ready to help you navigate Austin’s real estate market, with a no pressure policy, a friendly support team, and great Austin mortgage lenders- you’re in great hands.
Austin New Homes For Sale- Quick Search
September 18, 2008 | Leave a Comment
Most people don’t know that Austin New home builders do put some of their inventory online, you just have to know where to look. Oh it’s ridiculously easy, here are three ways:
(1) The easy way: I do is go to the GoSinglePointe search page, and either zoom in to where I know a brand new subdivision is and the little green house bubbles pop up.
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(2) The easier way: click “advanced” at the bottom left of the search page, and move the “year built” slider to 2008 and voila! New construction!
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(3) The easiest way: again, click “advanced” at the bottom left of the search page and where it says “city, community, tract, zip” you can type in the name of the subdivision you want to check out. Easy, huh!?
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D.R. Horton in Cedar Park
Cedar Park Town Center is a new subdivision in Cedar Park near where 183 and 183A split and one of the homes available is on Main Street. This single story home has 4 bedrooms, 2 bathrooms, is 2.257sf and is selling for $236,203. Ooh, the master bedroom has a sitting room and the master bathroom has a “sun tunnel” (which is similar to a skylight). So now that you have a starting point, click on the “map” button up top and check out other new homes in the subdivision. Click here for all the details.
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Benbrook Ranch in Leander
D.R. Horton opened their second phase of Benbrook Ranch this year and it’s really close to the super mega HEB in Leander! Selling for $179,373 this 3 bedroom 2 bathroom, 1771sf home features an open gameroom and (one of my fave features) an oversized window in the master bathroom. Click here for all the details.
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Lennar Home in Manor
People have been moving to Manor in higher volume since the 130 Tollway opened and new home builders opened several new subdivisions. One of those neighborhoods is Pioneer Crossing and Lennar has a home listed for $221,490 that has 4 bedrooms, 2.5 bathrooms and is 2,604sf. It’s a two story home on a 60′ x 120′ lot. Remember, not all home builders post pictures and you may see an elevation illustration instead but you get the idea. Click here for all the details.
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Highland Park in Pflugerville
This subdivision is near the new Stone Hill Center retail project and just off Hwy 45 and 130. I love that the second story also has a walk out patio and the garage is rear entry so guests see the profile of your home but not the big garage door. It has 4 bedrooms, 2.5 bathrooms and is 2,153sf for $189,921. Click here for all the details.
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Affordable in Hutto
This brand new Hutto home is only $141,690! It has 3 bedrooms, 2 bathrooms and 1330sf. It features a covered rear patio and has quick access to the 130 Tollway and is near Hwy 79 also, so there is a lot of new development (housing and retail) in this area. Click here for all the details.
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Find Your Own New Homes
Here are just five quick examples of new homes for sale around Austin I found on GOSinglePointe. If you’re having a quick sandwich for lunch and want to poke around new homes, you now have a starting point to zoom in and out of the GoSinglePointe search site and don’t worry- it’ll still be here when you want to play around online in your jammies tonight (yeah, we do it too)!
Austin Real Estate- Exotic Homes For Sale
September 17, 2008 | Leave a Comment
By adjusting the sliders on the left side of the GoSinglePointe search page, I jacked up the price to over $2,000,000 and and found the following available homes for sale in Austin that are really exotic:
Mount Bonnell Shores
$12,800,000- On beautiful Mount Bonnell (Austin’s tallest peak), overlooking Lake Austin (aka Lady Bird Lake), this 11,114sf, 5 bedroom, 6.5 bathroom, three story home is equipped with a theatre and sits on 2.3 acres.Click here for all the details.
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Bee Caves West
$11,256,000- Over 40 acres makes this 9,500sf to be built home a major find- 4 bedrooms, 4.5 bathrooms with guest accomodations, a swimming pool and horses are allowed.Click here for all the details.
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Land For Development
$10,000,000- This 3 bedroom, 1 bath home near Hudson Bend features a separate library. The more than 13 acres has 565ft of Lake Travis waterfront AND Hwy 620 frontage with no restrictions on future development! Click here for all the details.
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Lake Travis Living
$9,250,000- This home has 5 bedrooms, 3 bathrooms, is 9090sf seated on 3.09 acres. With three stories, an exterior workshop and a lap pool just above Lake Travis, this is one exotic find! Click here for all the details.
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Find Your Own Exotic Real Estate
Take some time playing around with the GoSinglePointe search, move the levers up and down to find larger, smaller, more expensive, less expensive, northern, southern or central homes for sale in Austin, it’s awesometastic!
What is a Home Inspection?
September 5, 2008 | 2 Comments
What is a Home Inspection?
A home inspection is a complete, top-to-bottom, visual check-up of the structure and systems of a house. It is meant to be an objective determination of a home’s condition.
A home inspection usually takes 3-6 hours to complete, depending on the size of the home.
During the inspection process, the inspector will examine all of the following components of a home:
- Home exterior including doors, decks, and vegetation
- Heating and cooling systems for leaks and efficiency
- Electrical systems for safety and soundness of design
- Plumbing systems for venting, distribution, and drainage
In addition, the inspector will review the roofing system, the home’s interior, and several other parts of the property.
A home inspection may be ordered by a home owner or by a home buyer.
Why Get an Inspection?
For a home owner, an inspection can detail a home’s shortcomings and provide a roadmap for repairs. This can help a person prepare his home for sale because “major issues” can be addressed in advance of listing.
For a home buyer, a home inspection physically reviews a home under contract, identifying structural flaws that may impact the home’s desirability. This is essential for the negotiation process because no home is “perfect” – even new ones!
A home inspection highlights potential long-term trouble spots and the likelihood for expensive home repairs. This is why real estate professionals often recommend inspecting a home immediately after signing a purchase contract.
Source: American Society of Home Inspectors Frequently Asked Questions on Home Inspections
(Image courtesy: Anderson Home Inspections)
Source: Bring The Blog
Just Listed: Wells Branch Hottie
August 30, 2008 | Leave a Comment
Get the Details:
- 14501 Robert I. Walker Blvd.
- 3 bedrooms, 2.5 bathrooms
- 1,278sf per tax record
- 2 car attached garage
- Great trees and flower garden
- Koi pond and patio
- Near The Domain
- HOT Location: just off 1325 Tollway AND by IH-35
I Want More!
*Become FRIENDS with this house on Facebook
*Send either video to your spouse, mom or dog
*Tell your Realtor about MLS#3002466 OR call 512.879.3741 for a tour
Home Prices & Foreclosures Up, Sales Down
August 19, 2008 | Leave a Comment
original image courtesy of allyaubry
Mixed News
We’ve been watching the median price of the Austin real estate market continue to climb while other parts of the nation experience sharp declines. According to data from the National Association of Realtors, the median price for Austin are homes has increased 4.1% to $194,2000 over the last 12 months.
This news comes on the eve of the Austin Board of Realtors’ data revealing that home sales in the Austin market are down 20% while the number of listings has risen. Foreclosure Listings Inc. shows that Travis County foreclosures increased 45% in the last year while Williamson County experienced a 34% increase.
The Austin real estate market is in a good news / bad news scenario but the people in the best position are those who are ready to sell but aren’t in a rush- there’s competition on the market but the median price increase indicates that sellers are getting more for their homes proving patience to be the advantage. Also, buyers benefit in this market because there is no shortage of choices between foreclosures, short sales, resale and new homes.
3927 Lord Byron Drive
May 11, 2008 | Leave a Comment
With a Diamond Brite pool/spa, grand oaks, an elevated rear patio and back yard overlooking a green on the Forest Creek Golf Course, the stage is set for this luxurious home.
Inside, you will enjoy granite countertops, travertine tile, bay windows, a full guest suite, game room and two story living room. Forest Creek is one of the most desirable areas in Round Rock and priced at only $329,900 we anticipate this home will not be on the market for long!
Searching Austin Homes- A Snap at gosinglepointe.com
May 5, 2008 | Leave a Comment
Say NO to Circle Searching!
We whipped up this neat screencast to show off a few of our cool Austin home search features. Enjoy!
It isn’t always easy being the best or satisfying our Austin home finders, but this is a pretty sweet search tool. Just Try it!
Austin Home Buyer - What’s My Job?
March 19, 2008 | 1 Comment
There is a deep misconception that because you have an agent that you really aren’t part of the process. This is absolutely not true. Your job, although made easy with the help of a great agent, is what makes the process work.
An Austin Home Buyer makes the final decisions, the agent’s job is to present and/or create the options you use to make those decisions. But there’s more to the buyer’s job than that…
For example, the buyer manages the documents! Documents required by the loan are time sensitive. Once in contract, you only have so much time to complete your file to be sent to the lender. Another responsibility of a buyer is to make sure the information presented is true and correct. Often at the time of the initial application, there are holes and blanks you’re aware of - for example, you may not have your dates of employment at your fingertips. It would be your job at the time of meeting with the lender by phone on in person to bring those dates current on the application.
Whether it’s the inspection, documentation of facts, walk-throughs, or making a decision, the buyer’s job is key, and time is almost always a factor.
The most important function is communication. Many times, the agent will put you and the processor together by phone or email to close time gaps in the process. It is here that often things can get into a snafu. It is very important that you’re communicating with your agent the things the processor is requesting. Many times the agent may have a solution for you that can save you hours or days anguish. The agent is often experienced with the types of requests a lender may make and may be able to assist you in obtaining documents more quickly that won’t slow down the march to closing.
I hope this helps you in understanding that a process to close on your Austin home is just that- a process. Not knowing the process is understandable and forgivable- simply follow the game plan and your Austin Home Purchase will be a smashing success!
Twin Creeks’ Best Kept Secret [Rentals!]
February 4, 2008 | Leave a Comment
We all know Twin Creeks as the upscale golf community in Cedar Park. It’s a zip down the hill to the lake and a zip over to Anderson Mill, getting you to 183 in a snap. Until recently, I thought Twin Creeks was completed, but the back of the subdivision has just open and the views are amazing- you should take a drive back there!
The best kept secret about this neighborhood is that there are new luxury condos butting up to the country club that are available for rent- seriously! If downtown loft living isn’t your scene because you have a dog, a sweet set of golf clubs, the need for trees or don’t like elevators, parking garages or small spaces, then this is your answer! We have sold several of these luxury two-story condos and we now have two that are for lease and we don’t anticipate they’ll be available for long.
The Twin Creeks Condo Down-Low
Condo #701 is a 1530sf (per builder) brand NEW 2 bedroom, 2.5 bathroom, 2 car garage with a loft/study. My favorite part of this particular condo is that it has this incredible two story living room with windows on both floors, and the upstairs loft looks over into the first floor- you have to see it! The home has awesome upgrades and even comes with a stainless steel appliance package. It’s a great bargain for the buck and move-in specials are still available! This home even has its own website- check it out!!! [2930GrandOaksLoop.com]
Twin Creeks Condo Amenities include a fitness center access, pilates/dance/yoga studio, both of which have scheduled classes you can take, the children’s center, teen’s center, water park style junior olympic pool and soon to be built tennis courts. This neighborhood is great for jogging and walking the dog and it’s a stone’s throw to the golf course which offers reasonable rates for annual membership.
Also available is Condo #502 which is also NEW, 1749sf (per builder), 3 bedroom, 2.5 bathroom, 2 car garage. I love that this condo has this massive landing upstairs, big enough for a computer desk or reading area and has all roll-out windows upstairs- no more shoving windows up and down! You’ll love the granite counters, stainless steel appliances, berber carpet, upgraded cabinetry with adjustable shelves, open dining room, massive foyer and even a fenced patio. Check out the video tour below!
We know now that you’ve seen these, you’ll want to take a tour and we would *love* to show you. We’re a no pressure shop, so don’t be nervous to call or email us. If you already have a Realtor, send them the link to this article- they have access to these condos too!
Austin Through a Photographer’s Lense
January 19, 2008 | Leave a Comment
Buying a home in Austin is more than just selecting what stone you want on the exterior of your home or about what type of backsplash you like in the kitchen. For those living here, we can all attest that Austin provides a higher quality of life than most places the collective population has experienced elsewhere. Living in Austin is about music, friends, landscape, wildlife, fitness, art and more. This is Austin through local photographer Julian Humphries’ eyes:
Chilling in Austin
Austin 360 Bridge
Below the 360 Bridge
Frost Tower Downtown
The University of Texas Stadium
The Pedernales River
The University of Texas Tower
Oakwood Cemetery
Austin Hill Country View
Green Mesquite BBQ
Beer Breweries
Betsey Johnson in The Domain
Austin Wildlife
Bull Creek
Live Music!
Julian Humphries’ love of Austin is evident in his art. Which image of his is YOUR favorite?
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Any use of Julian’s work from this site without permission will be punished- severely. We are very protective of our Austin artists and take theft very very seriously.
Williamson County “Top 10 Best Districts for the Buck”
January 15, 2008 | Leave a Comment
Williamson County Schools Rank Highly
Forbes magazine studied school districts by county in every single county in America. Not only did Williamson county stand outin Texas, it was among the Top 10 Best in the Nation! Williamson county comprises of Cedar Park, Leander, Round Rock and Georgetown, all suburbs just north of the Austin metropolitan area where Forbes has affirmed what we already know- the education system here is unparalleled and is a great deal for the money.
According to Forbes:
With property taxes rising across the country, we took a look at per-pupil spending in public schools and weighed it against student performance–college entrance exam scores (SAT or ACT, depending on which is more common in the state), exam participation rates and graduation rates.
For those who don’t live here yet, Texas is a property tax state which is how our schools are funded (well, we also have the lotto, but that’s another article for another day). While tax rates vary, Williamson county enjoys a relatively low tax rate and is growing rapidly. There are new homes being built every day ranging from DR Horton’s garden homes to custom golf course mansions in Williamson county. That means that whether you’re buying your first home or you’re upgrading to a new home, the school districts are a bargain, even stacked up against every county in the nation!
photo: Rob Gonyea
Austin Real Estate is the Best Bargain in America
January 8, 2008 | Leave a Comment
According to Business Week, Austin real estate is the best bargain in America. Who does this matter to?
Austinites
Good news Austinites- Austin’s real estate values have consistently beaten the doom and gloom national forecasts. Our diverse job market, our progressive economic development devision and our endless natural attractions create a desireable location for those relocating. Many people that relocate from Austin move to another part of Austin, so our city retains a massive portion of our residents.
Investors
National investors have been eyeballing Austin for years and those who have not yet seen the benefit of what a bargain real estate is here are flocking. Once upon a time, I hated the idea of California money funnelling into Austin, but with the tightening in the lending industry, the people who no longer qualify to buy a home still deserve to rent a beautiful property (sidenote: do-it-yourself investors smell the deals here and pump money in without any sort of plan, but with guidance, those same investors will very nicely cushion their long term results).
Job Seekers
Austin continues to have impressive job growth and when people face the choice between a snowy climate, an astronomically priced housing market or (say it with me now) Austin, the choice is easy. Natural beauty, great deals, steady value increases and unparalleled social life make the choice for most transfers.
So, if you live here already or plan on moving, real estate here is an awesome value- congrats, Austin!
photo credit: onefivedoor on flickr
Austin Real Estate News- Labor Market is Hot
October 30, 2007 | Leave a Comment
According to the Texas Workforce Commission and Bureau of Labor Statistics, Austin’s labor stats are outperforming the Texas averages, and nearly allother major metropolitan areas. Read until the end to find out WHY this is real estate news…
***Ranking SECOND in Texas only to the McAllen area, Austin’s EMPLOYMENT GROWTH RATE is at an impressive 3.5% while overall, Texas experienced 2% growth rate over the last 12 months. The misconception of big city equals big employment is simply false and as Austin job creation numbers consistently rise, chances are you’ll be here soon if you’re not already! Other metropolitan areas that had impressive numbers were Houston and Dallas, both at 2.6% growth, Waco at 2.4% and Midland at 2.5% employment growth rates.
***Austin’s UNEMPLOYMENT RATE is also declining. Raking FOURTH in Texas after Midland-Odessa (3.25% unemployment), Lubbock (3.5%), and Amarillo (3.5%), Austin has only a 3.7% unemployment rate which is very impressive considering the state unemployment rate is 4.4% while the nation experiences 4.7% unemployment.
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I know, I know- you’re asking how this is real estate news. It is- these numbers are taken into account by three different groups that are important to you whether you are buying or selling property in Austin:
INVESTORS: when scouting new locations, investors look not only at unemployment rates and employment growth rates but at job diversity to support meaning we can lose more than one industry and our economy still hums right along. Austin is the nation’s second silicon valley (Dallas being the silicone valley!) but is also supported by an increasingly strong retail market, health industry, and banking sectors.
EMPLOYERS: numerous companies are packing up their California plants or headquarters and heading for Austin which is a much less expensive location to operate in yet still offers a similarly beautiful landscape with endless entertainment and venues that are attractive to employees.
REGULAR JOES: the job growth rate is an indicator of the strength of the Austin housing market. When our city has attractive numbers, it creates a vibrant relocation market which in turn creates a demand for housing which is good news for sellers. For buyers looking at Austin and comparing it to other cities that they are considering relocating to (including many of our readers, hint hint), these numbers are a major draw for Austin.
So great news Austin- we’re hot!
Austin Is The Place To Live- Affordability Showcase
October 24, 2007 | 2 Comments
Austin is the place to live and if you aren’t here yet, we’ll give you yet ANOTHER reason to move- affordability! Because of the gorgeous landscape and endless lakes, much of our entertainment is free (can you say hiking, biking, swimming?).
But who are we kidding- the best deal in Austin is housing! Last year, the national median home price was $221,900 while Austin’s median price was only $173,700! While prices have increased (congratulations home sellers!) since last year, Austin will forever be less expensive than real estate on the east or west coast and the landscape is just as beautiful!
Where does Austin rank nationally? According to Travel & Leisure magazine, here are the national affordability rankings:
1. San Antonio, TX
2. Nashville, TN
3. New Orleans, LA
4. Minneapolis/St. Paul, MN
5. Austin, TX
6. Portland, OR
7. Philadelphia, PA
8. Charleston, SC
9. Denver, CO
10. Dallas/Fort Worth, TX
Austin Investment Gem- The Metropolitan
October 15, 2007 | Leave a Comment
Austin is prime for living, relocation and investments, and The Metropolitan is sure to please all. This $50 million, 8 story, 96 foot tall project has a prestigious adress across the street from our State Capitol. Located on Trinity and 11th Street, this spot is quite attractive- not only will downtown views be a drawing factor, but residents may even be able to see the Governor’s Mansion from their living room!
The Metropolitan will have 84 luxury units on the upper floors, a six floor subterranean parking garage, valet service, and will offer street-level retail and dining. We are unsure of the amenities as all of the details have yet to be outlines, but we’re excited that The Metropolitan will feature a private club called The Fountainhead which we suspect will be where people will rub elbows with politicians and lobbyists.
Reports conflict regarding the completion date, but is projected to be between August 2008 and early 2009. Units will range in size from 900 sf to 1,900 sf one, two and three bedroom condos with pricing starting at $300,000 all the way up to the penthouses with private rooftop gardens going for a cool $1 million.
The Mote Group is The Metropolitan’s developer and we are proud that they are headquartered in Austin at the Littlefield Building, blocks away from The Metropolitan- proximity and an understanding of the area are distinct advantages they have, most likely making this a very successful project.
There are numerous condo developments underway in Austin right now, some of which have yet to even break ground and others requiring appointments- if you’re interested in further details, we can help.
Austin can beat up YOUR city
October 14, 2007 | Leave a Comment
CNN.com wrote a glowing review of Austin, highlighting all of the amazing things that we love (and already knew) about Austin (health food, Mexican food, parks, bars, etc). If you’re new to Austin, considering moving or investing in Austin, take it from someone at CNN who must have caught the cheap flight to town, had a lot of margaritas, ran it off on the trails in the morning and jumped back on SWA to Florida.
I’m a native Austinite (I know it’s rare, hold your applause), and I was asked by a Californian what makes Austin different than Dallas- they are after all, both in Texas. I could only explain that Dallas is a bustling metroplex and they love that hustle, but Austin refuses to believe it’s a real city and we are all still on small town vacation time. If you haven’t been converted yet, just take a weekend trip and see for yourself- Austin is the best place on earth!
Although we’re friendly about most anything, theft of this personal photo will be prosecuted, y’all! 
The Austonian- Crazy Luxury Condo Highrise
October 10, 2007 | 2 Comments
Insane luxury has broken ground in Austin! If you need marble walls or Italian wood, this is your cup of tea! This project broke ground this fall and will suit the ultra swanky Austinites. With condos starting at $550k all the way up to nearly $4 million, you’re sure to see Hollywood stars, politicians, musicians and others that will leave you starstruck signing on the dotted line!
According to the Statesman- The Austonian, the swanky 55-story condo tower planned for Second Street and Congress Avenue, is pulling out the stops on amenities. The bathrooms will have marble walls; the kitchens will have Italian cabinets and built-in cappuccino machines, and 54th floor lounge will have a catering kitchen. A 10th floor “urban garden” will include a lap pool, billiard room and outdoor movie screen. It also will have a dog park with a scented, self-cleaning doggie toilet — just the thing for pampered high-rise pooches. Prices will range from $550,000 to $3.8 million and higher than that for buyers who create a custom unit on the three highest floors. “We knew what the standard was, and we wanted to blow it out of the water,” said Laura Gottesman, whose firm, Gottesman Windham Real Estate, is marketing the units.
Located at 200 Congress Ave, The Austonian will be 55 Stories tall, comprised of 195 Units and 700 feet tall! While it is still in the design phase, the completion date is targeted for 2009- our skyline will soon be changed!
Of course the Austonian will have a concierge, an amazing pool, a fitness center, meeting rooms, party rooms, a dog park for plush puppies, a garden deck, game room, housekeeping and valet. Oooh la la! The Austonian has a $200 Million budget and plans on being over half a million square feet! The developer is Second Congress Ltd. which is affiliated with Benchmark Development out of Austin.
If you’re ready to open up your big heavy wallet but don’t want to live in the suburbs, the Austonian is Austin’s answer to those seeking the luxury living lifestyle downtown. The sales center is open and is by appointment only- call us at 512.879.3741 to get started!
OMG- FED CUTS RATE 1/2 POINT!!!
September 18, 2007 | 1 Comment
There was much speculation at the water cooler about what exactly Federal Chairman Ben Bernanke (position formerly held by Alan Greenspan) would do with the rates. Some argued he’d keep it where it is while investors rallied today in anticipation that Bernanke would lower the rate.
This just in: according to Fox News, the Federal Reserve board has lowered the Federal Funds Rate to 4.75%!!! This half point cut is fantastic news for those homeowners who have adjustable rates that are about to reset, and it’s GREAT news for people who are in the market to buy- you will see better rates with this adjustment! Also benefiting are the sellers who have had trouble moving their homes- hooray!
The Federal Discount Rate (the rate which the federal reserve board lends money to banks) was ALSO cut by half a point reducing the rate to 5.25%. This means that there will be more money available to lend and will end the hemmorhaging of the market. The bottom line is that money is getting cheaper! Many of you have been holding your breath for this day and the great news is that you can now sigh in relief. So go ahead and pack- it’s a great time to move thanks to Bernanke!
5 Austin Home Buyer Tips
September 18, 2007 | Leave a Comment
Here are today’s 5 Austin home buyer tips:
- If your agent suggests a property to you and you want to make an offer - ask for a C.M.A
A Comparative Market Analysis on any neighborhood is a great idea. It gives you the opportunity to take a hard look at the neighborhood facts.
- Drive your neighborhood night & day
Why night & day? Because during the daytime folks are often off to work, it gives you a chance to look closely from the street at the lawns and driveways. What are their conditions? Driving during the evening around or just after dinner time is a great way to see how active it is. Are you okay with what you see? Are cars in the driveway or in the garage? Whats worse than a driveway you ask? The street perhaps? Where are their trash cans stored? Perhaps it might even be clever of a savvy buyer to drive it on Saturday night as well?
- Always buy with a home sellers mentality
Imagine yourself selling the home in 5-7 years, and ask yourself, where is this neighborhood heading. Will I get my money back? If the neighborhood looks run down now, chances are it may get worse before it gets better!
- Is the home you’re thinking about buying older (say 10-40 years) with a single owner?
If it is, chances are, there’s money to negotiate. If a family 25 years ago bought the home for $80k one must ask themselves how much of the sales price is market perception if they’re now selling at $225k. Add the total days on market to this equation and you may not want to participate in the sellers windfall. The county tax record and a C.M.A will help you plot your offer with your agent.
- Don’t be afraid to ask questions
No one likes a know-it-all so use the knowledge you have as a springboard to ask questions of your agent about options. Very often folks walk into our office with a clear cut idea of what they want only to realize that they had even more options open to them. Knowing everything may leave your agent afraid to make suggestions. Our advice is to simply collaborate your information with your agents into a well rounded decision. (yes we know, no one likes a know-it-all realtor either!)
Are You Hip Enough for the 78704?
September 15, 2007 | Leave a Comment
For those of us who don’t live in the 78704 zip code, we probably live in the ‘burbs on purpose. But, we’d be lying if we said we didn’t have a hint of jealousy as we drive through South Austin which might just be a little too hip for some of us (or okay, maybe just me). That won’t stop me from telling you about The Sycamore 78704 which I didn’t realize rhymed until well after I said it in my head for the hundredth time!
The Sycamore 78704 is South Congress cool. You’ll see people with 78704 “A Way of Life” bumper stickers rolling around this part of town. I’m not kidding. This area flaunts local shopping for those with eclectic or stylish tastes and offers countless sweet spots for eating and being entertained. The Sycamore offers three story townhomes that claim to be among the most unique in town- suitable for the coolest of the South Austin Hipsters! Enjoy the two car direct access garage, spa style master bathroom and gourmet kitchen. You have 2 Bed/2.5 Bath/Study options or a 3 Bed/3 Bath option, both of which are well planned. Starting in the $290s, this is a reasonable option for the 78704!
If skyscrapers aren’t your speed, stay close to downtown yet nestled in the trees. Some call them townhomes, others call them bungalows, but whatever you call them, they’re sure to impress any visitor. Interior features include a private terrace, granite slab counters throughout, Kohler brand fixtures, as well as CAT6 wiring for internet, phone, cable, security and surround sound. Especially attractive is the wood flooring in the kitchen, dining and living areas and the custom tiling in the bathrooms and washrooms. Of course they built The Sycamore with recessed lighting and included a stainless steel appliance package.
But what about the environment, you ask? Well, The Sycamore showcases Zoned, 13 SEER A/C (which is fancy for an efficient conditioning system), Low “e” double pane windows (which will lower your electric usage), and blown battR30 insulation (an industry term for insulation that aids in reducing energy use).
As The Sycamore folks say, “Life Has A Location- 78704.” 78704 is calling your name- answer the call by scheduling a tour today! We’re here to answer your calls at 512.879.3741.
360 Condominiums in Downtown Austin
August 22, 2007 | 2 Comments
In learning about the 360 condominums, we have been thoroughly impressed with the level of thought put into this development- I’m convinced there isn’t a detail they didn’t think of! Before we get started, I must tell you that they are getting closer and closer to being sold out and have only three condos available on the top floor (Floor 43)! If you’re interested, give us a call- we’d love to show you around and get you started.
This 43 story condo tower with 432 units is conveniently placed in Downtown Austin (Rio Grande between 5th and 5th street). This is the heart of the city and within blocks, you have access to countless music venues, restaurants, grocers (Whole Foods or Royal Blue Grocery), shopping, bars, gyms, spas and museums. 360 Condominiums has been writing contracts since Spring 2007 and will have their first closing dates in April 2008. Five stories at a time will be delivered in two week increments starting with the 9th floor.
Single bedroom condos range from 796 sq. ft. to 925 sq. ft. (plus a balcony or terrace) and range in price from the mid $200s to the low $300s. Two bedroom condos range from 1,062 sq. ft. to 1,308 sq. ft. (plus a terrace or balcony) and are priced from the low $400s to the mid $500s.
Because there are so many details to include, we’ll start listing them now:
*10 foot ceilings
*Floor-to-ceiling windows
*Hot Austin views
*Stainless Steel Appliances
*3″ x 6″ subway tile backsplashes
*Granite countertops
*Cherry or Maple cabinetry
*Shaw hardwood floors
*Shaw carpeting
*12″ x 12″ tile flooring in bathrooms
*Kohler brand fixtures
*Balcony or terrace
*Pre-wired for cable and DIRECTV
*Pre-wired for high speed Internet
*Pre-wired for in-home audio package
*Reserved parking
360 Condominiums are ripe with amenities:
*Expansive lobby w/ regional artwork
*Full service 24-hour concierge
*Plasma TVs in lobbies and all common areas
*Fitness center w/ aerobic & weight equipment
*9th floor outdoor terrace w/ pool & sundeck
*Pool w/ sunning shelf w/ in-water tanning chaises
*Sundeck w/ lush landscaping, chaises, tables & lounge seating
*Outdoor living room with fire pit & surrounding lounge
*Outdoor grilling station
*Poolside Club Room with amazing views- perfect for entertaining
*Club Room contains Wifi Internet bar
*Club Room features a catering kitchen & wet bar
*Theater Room w/ theater seating and 61″ plasmaTV
*Wireless Internet in all common areas
*14,500 sq. ft. of street-front retail
*Controlled access to the building & parking deck
*Common areas monitored 24/7
We commend the 360 Condos for meeting the requirements of the City of Austin’s Green Building Program to be called a “Green Building.” The development has met construction material recycling standards, they’ve built with certain environmentally friendly building materials, met several requirements for energy efficiency and have met national resources conservation standards. Many people scoff at new development, but I personally believe that this project is a great use of land and has a minimal impact in comparison to thousands of square feet of horizontal development!
Green Features:
*Energy Star roof reduces heat trapped by the roof
*High-efficiency, filtered fresh-air supply to all areas
*High-efficiency, chilled water system for air conditioning
*Programmable thermostats in all condos
*Low-flush toilets reduce water use
*Energy-efficient lighting and daylight harvesting
*Use of regional construction materials
*High “R” value insulation to reduce energy use
*”Low VOC” paints and coatings promote better health
*zReflective surfaces around pool deck/patios preventing heat buildup
*Above-ground construction and open-air garage
*Recycleable materials collection areas
*Efficient storm water runoff and water quality control
*Water-efficient landscaping
One of the coolest features of the 360 Condominiums is the “HALO” project. HALO (Home Automation, Lifestyle Organization) streamlines your life by allowing you to interact with your community and your home. How do you interact with a home? Well, HALO allows home automation whether you are at home or away. Still not clear? HALO lets you program your AC and heating schedule and lets you review your historical settings and readings to check on energy usage. Further, you are able compare energy and water consumption with other homes in the building to make sure you’re not over consuming. HALO also allows you to link to the parking system to trigger programmable “home” and “away” settings.
HALO allows keeps you informed by giving you energy and water conservation tips, HOA (Homeowner’s Association) announcements, meeting minutes, financial reports and budget comparisons. You can access your HOA account balance online as well as charge home repairs to your HOA account. HALO shows a calendar of upcoming events and club room scheduling and not only allows you to submit maintenance requests but provides access to manufacturer’s warranty information and operating manuals for any appliance or entertainment system.
HALO is a community building tool that allows you to request service from the concierge, chat with your neighbors in the building chat room, post items for sale/rent on the internet bulletin board, contact the management office or HOA board and with a single click, you can see who’s visiting you with the Guest ID camera at the call box. Sounds like “Back to the Future” to me! Lastly, HALO provides the ability to link to restaurants, grocery and convenience stores for door-to-door delivery, request a car wash, valet or ride share, or even request a dry cleaning pick up.
Space is running out in one of Austin’s best thought out condominium high rises- call us today for your personal tour!
Source: 360 Condominiums Website
Fed Cuts Rate
August 17, 2007 | Leave a Comment
Today, the Federal Reserve Board cut the rate 1/2 point today, cutting the fear factor out of the rates that had made some buyers nervous, bringing some good news back to buyers. This is your weekend to buy!
Is The News Freaking You Out? A Couple of Things Our Callers Are Asking…
August 10, 2007 | Leave a Comment
Hey guys & gals,
We’re watching the industry on many many levels, especially mortgages. The reality is, we do not deal in loans that are not buyer friendly, period.
It has always been a Single Pointe policy that our buyers know what options are available and we’re not afraid to say, “don’t take that loan.” You’ll know upfront what the loan really is and once you have all of the facts, it’s your decision; we never let lenders or sellers pressure our buyers.
Our first home buyers get great rates and generally we can get them down to even better rates using FHA, VA and various other first home buyer programs. You’ve still got many many of the best options.
Step-up buyer & seller? We’re helping our clients get pre-qualified for fantastic rates on their next home and have created buy/sell strategies to help move them up OR down to the home they can best afford.
We know that subprime mortgage talk is all around the water cooler, but the reality is that the vast majority of you are not a subprime credit risk, even if you may feel your credit has been damaged in the past.
A question was asked today, is it harder or going to be harder to get credit? If you’ve never paid a bill in your life, probably! But if you’re like most folks who work hard, pay the bills the best you can, and do a reasonably good job, you’re more than likely going to be just fine. But always know that we’re here to help you navigate the process, and we’re not afraid to shop lenders to get the right loan and rate.
Worried about rates? Well, rates on normal loans (fha, conventional etc.) are down right now. Obviously, higher risk loans will have higher rates, but we’ve not seen anything unreasonable just yet.
Another question was, is it a good time to buy? It is definitely a great time to get out and buy- low rates, great prices, lots of options, and a friendly staff here to help you through the muck… what more could you ask for?
We’re ready to help!
Here’s a tip: contracting by the end of August on a new home will land you some of the best deals of the year; it’s close-out season! Get in on the action while inventory is hot!
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Have a Real Estate question you’d like to ask? Give us a call; we’ll post them as we get them here for others who need to know. If you’re shy and in need of asking a question, drop us an email or just comment on this post and we’ll answer in our next call session!
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