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.
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 Turn-Key Real Estate Investment Properties
November 6, 2007 | Leave a Comment
Single Pointe’s value to its clients is one of many levels. Not only does Single Pointe command a dominant position in the Austin Real Estate Market, we also have relationships that give Single Pointe an edge in buying real estate for our real estate investors.
We’ve always been equity strong Realtors in Austin- we simply pride ourselves on buying Austin residential real estate at sharp discounts no matter how hot or cold the market. We deal in volume with over 30 Austin New Home Builders, such as DR Horton, Lennar, Toll Brothers, Fairway View Homes, Bowen Homes, Ryland, Perry Homes, David Weekly, and more- and these relationships in the residential home buyer market, give us instant access to Turn-Key property opportunities for our Austin real estate investors.
If you’re in the market for real Austin Turn-Key Real Estate Investment Properties then turn your focus to Single Pointe. We have strategies for almost every budget, master Lenders with access to rates that make other lenders jealous, portfolio lenders, as well as the inventory to suit every possible scenario imaginable.
We’re going to be talking a lot more about Austin Real Estate Investment Opportunities, so stay tuned- can’t wait? Simply give us a call and we’ll get your investments cash flowing and growing.
***HOT DEAL***
- We currently have a builder offering us over 25 turn-Key investment properties that need to be moved now in Cedar Park, Leander, Hutto, Manor, Austin, Southwest Austin, Kyle, and East Austin. We have 18 single family homes, and 9 condos, ranging in price from the low $100,000s- the mid $200,000s. Full incentives available if contracted before December 1st. (subject to availability and credit approval)
- Austin Condo Developer offering full incentive on 30 condos on Hwy. 360. Views from every 2bed 2bath unit, wrap around patios available - pricing from the upper $100s to the mid $200s. This condo conversion project has an upper 90s occupancy rate and has maintained this rate for well over 5 years prior to the conversion. These turn-Key condos come complete with granite, stainless, views, upgraded dark oak cabinets throughout, wired for security, 1st, 2nd, 3rd, floor available. We will be selling these in blocks, so get in now, as we expect these units completely contracted by Dec. 1st. A seller carry option until leased or 90 days, which ever comes first may be available on these units- these condos are within 1 mile of lake Austin… this is HOT!!
We offer comprehensive investment services from contract to close as well as investment counseling and are ready to help you grow your wealth through aggressive investment strategies.
Fiore- Austin’s Eco-Friendly Green Community
October 30, 2007 | Leave a Comment
Austin’s green building firm, Nine Sixty Nine recently announced their newest project, fiore which will be the nation’s first five star Green community. The site will be located near MLK Blvd and Hwy 183 which is just east of Austin.
The fiore website boasts their design will work in sync with natur, not destroy it. The architectural design will be contemporary modern and is actually be affordable- what a shocker! With Austin’s environmental awareness, it’s no surprise that we are home to the nation’s first five-star eco-friendly community designed around sustainable green development that will invite residents to settle in within the year.
According to the press release, “fiore represents the prototype of how to develop design-driven, sustainable, eco-friendly communities which funciton as alternatives to suburban sprawl.” Fiore will harness the energy of the popularity of the outdoor-type lifestyle in Austin in the setup of this project. So what exactly is unique about this ground-breaking community that may serve as a prototype for future Green communities?
*A communal 40-foot-wide, pedestrian lane and park around which all of the homes have been designed. The park features a community garden, playground, hike and bike trails and a hammock court.
*Six different design choices and in sizes ranging from 1,400 to 2,400 square feet with single and double story homes.
*The property’s hillside elevation allows for breathtaking views of the downtown Austin skyline.
*The result is a holistically designed, carefully orchestrated grouping of homes allowing for maximum green space, outdoor living and community interaction.
*Climate integration, with homes oriented for proper solar shading, maximum natural light, deep overhangs, outdoor fireplaces and shaded patios
*Garage outlets to accommodate PHEVs (plug-in hybrids) and other green vehicles
sources: fioregreen.com, CSRwire
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!
Austin’s Hill Country Appeal In Danger?
September 17, 2007 | Leave a Comment
I was driving along Crystal Falls & 183 today when I was dramatically reminded that a new Lowes & Starbucks (yes I had to get my Starbucks in there) as well as other shopping and eateries were coming to town. I remember being excited that Leander had attracted such a grand scale commercial development. I imagined something that would maybe rival Austin’s Arboretum- my daydream was nothing more than just a daydream. In fact, all that is left of the dense overgrowth of trees and brush is a single lonely oak tree. How pathetic. I remember having this same feeling watching The Domain being built off of Mopac & Braker. Getting shade while shopping at the Domain is a no easy feat- another concrete jungle. You see the same thing up in Lakeway at the new Hill Country Galleria, which I’ll talk about another day- just more concrete.
It’s about time that a little restraint be applied to the massive developments in and around Austin. We’re in danger of selling off what makes Austin so appealing in the first place- its dense trees, and plush woody vignettes.
Austin’s Summer New Home Builder Closeout- It’s not too late
September 16, 2007 | Leave a Comment
We really hate to advertise here but this is more of an informational blog than an ad. If you were interested in taking advantage of the Builders Year End Closeout, then might want to call us today rather than tomorrow.
Using applied new home builder incentives we’re reducing payments, interest rates, and even further reducing sales prices. These Builders are motivated and ready to get you into your new home- and we’re here to help you through the process while twisting the builders arm for even more!
Here are some of the things Austin Builders are giving up (other than the kitchen sink):
- Huge Price Reductions
- Appliance Packages Thrown in
- Payment Buydowns
- Interest Rate Buydown Reductions on Fixed FHA
- Reduced Lot Premiums on Hot Lots & more
Where?
- Cedar Park, Leander, Liberty Hill, Round Rock, Pflugerville, Hutto, Manor, Austin & more…
Who?
DR Horton, Lennar, Mainstreet, Perry, David Weekly, Morrison, Pulte, Reytex, Texas BIG, Legacy & more…
- & last but not least Builders who need to SELL NOW!
We’re working overtime to assist our buyers in getting their new homes closed, and we want to help you too. Give us a call and we’ll get you on the right track!
Feel free to check out our builder inventory
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
Lago Vista set to be the Next Big Thing
August 18, 2007 | Leave a Comment
According to the Austin Business Journal, there’s a chance that it’s about to be Lago Vista’s time to shine! Hines Interests is a major developer headquartered in Houston with development all over the globe. Recently, they completed a purchase of 875 acres around Lake Travis and intend to transform this area into an upscale residential development, bringing about 2,000 homes to this prime area.
Current cities on Lake Travis are Lakeway and Lago Vista which look very close together on a map but upon closer inspection you will see that you must drive all the way around the lake to get from one to the other. That being said, these small cities are quite different from each other. Lakeway was long ago established as a resort style retirement escape but has blossomed into a cool area for lake living where jet skis and upgraded stainless steel appliances are a part of the new residents’ daily lives.
Lago Vista has long been a more remote area with a laid back country feel. You can still find small local shops and older lake cabins. Will a developer destroy the feel of this small town? We don’t think so. Balancing the country feel with an upscale modernity will inject the kind of financial support to this area that it would surely welcome. Lago Vista has long been a diamond in the rough and will quickly become the hip alternative to Lakeway. So, within the year when your new friend says they live on Lake Travis, you’ll be in the know- it doesn’t just mean Lakeway anymore!
No Gimmick- Reduce Your Monthly Payment When Purchasing Your New Home!
July 29, 2007 | Leave a Comment
The Secret is- Strategy
A lot of folks are growing more and more concerned about their monthly payment when considering the purchase of their new home. It is absolutely understandable. It is one of the many factors that play into the decision to wait or buy now- after all, all your friends own, why don’t I is the question many ask themselves.
Interest rates being fluid as of late has stunned many, as the payment they calculated on the new home they were dreaming about has changed. We had nearly reached 7% a week ago but that has come down a tad with the slow down in purchases in June. All of this up and down has created a need for Single Pointe to pull out all the stops to make sure our first home buyers can still buy.
Buying down interest rates to affordable levels
Buying down payments to fit within in your budget
These are just two of the solutions we’re demanding of sellers to help assist our buyers in hopes that many can now see their home in the same payment range they had planned for. We aren’t sure how long these great buyer incentives will last nor are we sure how long this lag in increasing interest rates will continue so our advice is to make your move now.
Give us a call to discuss what strategies we’re tailoring for our buyers and how they can work for you…
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The Weekly Hottie- Leander!
July 26, 2007 | Leave a Comment
HOT! HOT! HOT!
Leander Texas!
$153,337 REDUCED! to a COOL $136,337
We Only Have Two In This Price Range!
So many of you were so disappointed in January to learn that home prices had sored and you could not get into Leander under $150- well, have we got a suprise for you!
Here are the goods on this one…
3 Bed 2 Bath
Cool upgraded cabinets
Stainless & gunbarrel finishes
Arched Entries
Modern black appliances
Vanity
Marble finished garden tub
Seperate Shower
Very nice master closet
Beautiful front wondow
Covered rear patio (wired for your fan)
You can go zero down, zero move-in on this home easially (call for details)
Are you worried about payments? Ask us how we can hold your payment up to 60 days and reduce your payment over two years!
We’re saving our clients 1000s on their new homes- it’s no wonder Builders LOVE to hate us!
Search Austin new home builders & featured properties
Check Out more on what we can do!
Pre-Qualify Now to purchase your new digs!
Credit Concerns? Get the lowdown on creative finance
Spread the word - We depend on you!
Searching Austin Homes? Check this out… Why not Leander? VIDEO
July 17, 2007 | Leave a Comment
We’re always bringing you something new- videos! We make it our business to know everything about The Greater Austin Area in order to make your Austin home search simple. So check out our video (our first in a series)! Feel free to comment and yes, you can even make fun… This has definitely been a learning experience! The video viewer is also something new to us, so if you have problems, drop a comment!
THIS is Leander? Enjoy!
Click to Search Featured Homes
Click to Map Search Austin Homes
We Caught Them Red Handed- Builders Hiding Inventory (more war stories)
July 17, 2007 | Leave a Comment
Every week, we physically go out into a minimum of five various new home communities in search of their hottest deals. What we’ve found is several builders have begun hiding inventory with SOLD signs in order to create a sense of urgency on the part of buyers.
This is fantastic news for our new home buyers- there are even better deals to be had and we know where those better deals are! It is not so fantastic news to buyers who have gone in alone- how would they know any better?
We’ve added 38 new homes to our builder inventory homes and invite you to search them. These deals will not last long now that we know they’re there, so get in on this action now!
Search builder inventory
Read what our fans are saying
Get the goods on Creative financing
We count on you to spread the word! Tell a Friend!
How to Negotiate With a New Home Builder
July 1, 2007 | Leave a Comment
This is a common search phrase on Google and other search engines, and one that makes me cringe to see. It tells me that there is a buyer at a serious disadvantage in negotiations. Why a disadvantage? Well, it’s pretty simple, really- in any negotiation, the purchasing party must be willing to walk away from the table. Often, you’ve already searched 50 homes in 50 different areas of town. You are possibly weary of going back out to see another 50, or your significant other is totally in love with the home in question, and walking away would put a serious dent in his or her smile. Not being able to walk away, or having a builder sales agent who only has the builder’s interest in mind (knowing how much you actually love the house) puts you in a position of not being taken absolutely seriously when giving your terms. After all, they’ve already seen your hand.
You can overcome this- a lot can be argued as to whether you need a Realtor or not, but the main purpose of having a Realtor completely makes the above irrelevant. How? Because you, the buyer can love the house to death, but the sales agent knows the Realtor is a walking, talking thorn in the builder’s side. The builder’s sales agent knows by experience that the Realtor can provide an option to the buyer that will more than likely make this particular home last on the hot list. Having a real estate advocate places a buffer between you and the builder, allowing you to love the house, but removing the “heart of the matter” from the negotiation. It simply all boils down to your agent and the builder, and who is more willing to walk…
Having personally worked with over 30 builders and countless sales agents, I’ve experienced all of this first hand. My clients understand going in that your personal feelings have nothing to do with a builder’s bottom line. A good Realtor can turn your love of the home into buying power, but their firm hand turns the conversation into something all parties can live with.
If you’re trying to negotiate with a builder on your own, there is no advice anyone can give you. Simply put, the odds are against you in really getting (or knowing you are getting) a winning deal. You would need the type of experience I have in knowing all builders, all products, and having immediate options that remove the fear of losing the home.
Bill Cosby once did an entire episode of his show on how to handle a car dealership which began with how he dressed poorly to shield his wealth and was silent when looking at the cars as to not telegraph his excitement over a particular vehicle. But what Bill failed to mention was that sales people such as builder associates are actually trained to watch every movement of your body, including your eyes. They know by your sudden willingness to negotiate one house over four others and mentally comparing them can actually calculate what you obviously like over competing homes in inventory. There is really no way to pokerface a deal on your home. So, I guess the only practical advice I can give you is to allow yourself a buffer. See the home only with your advocate- then the sales agent only sees what your agent wants them to see…
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
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
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
DR Horton says 2007 New Home Sales Will Suck, Will They?
March 19, 2007 | Leave a Comment
I personally do not know whether Horton’s sales will suck or not, one can only speculate. But I can tell you this- THE TIME TO BUY A NEW HOME IS RIGHT NOW! With Horton building 8 of 10 homes sold in America, believe me, they’re going to keep it that way!
While it is true that home prices have increased slightly and incentives have been reduced a bit, the reality is that there are still plenty of reasons to buy right now. A prime example is Cedar Park Town Center- the price of the same floorplan may have increased over two years ago, but the options in the home at purchase have also increased, giving buyers even more for their hard earned buck and other builders are following their lead.
All in all, Austin has been hot, but never overheated. Steady growth has ruled the day so buyers should take advantage while this fact remains true. National market speculators have been screaming about a housing bubble bursting, but the reality is, Austin has never been stronger!
Happy Buying,
That Real Estate Guy
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