How Do You Give Directions to Your Home?

To keep it easy, here’s what we tell people:

1. Blah blah blah
2. Go down the hill, then up the hill
3. Then turn left after the Castle

You read that right – turn left after the castle.

The Castle in NW Austin

We have a castle in our neighborhood. Well, actually it’s a 1970s house in the back and on the side with the garage, but it’s all castle out front.

Don’t know the story, yet, but am planning to knock on the door one day “soon” and find out if the rumors are true – that the home owner’s daughter liked to play Princess so he helped out just a bit with the fantasy.

What is the most interesting house in your neighborhood?

Central Texas Charities Need YOU!

Many Austin local organizations are struggling to make ends meet and need your help and support. Can you find the time or a little extra cash to make a difference in the lives of the neediest by volunteering in Austin?

An excerpt for each Austin organization’s website should give you an idea of the types of services they provide, to help you choose who you want to support.

The American Red Cross of Central Texas “is dedicated to saving lives, easing suffering and restoring hope at home and around the world.

All Red Cross assistance is given free of charge, made possible by the generous contribution of people’s time, money, and skills. It is an independent, humanitarian, voluntary organization, not a government agency.”

The Children’s Medical Center Foundation of Central Texas “serves as the fundraising arm for Dell Children’s Medical Center. We partner with families, individuals and organizations to support the hospital’s mission to serve the sick and injured children in the Central Texas 46-county region.”

The Humane Society “is Austin’s largest no kill, non-profit animal adoption shelter dedicated to saving Austin’s homeless cats and dogs by educating our community about responsible pet ownership and reducing pet overpopulation.”

The mission of Dress for Success “is to promote the economic independence of disadvantaged women by providing professional attire, a network of support and the career development tools to help women thrive in work and in life.”

Hands on Central Texas is “a program of United Way Capital Area strenghthens communities though meaningful volunteer action.”

Heart House Austin “is a free afterschool program dedicated to providing a safe haven and academic support to low-income children and encouraging them to become good citizens.”

At Hospice Austin, “the emphasis is on living – living each day to the fullest, in a comfortable place, free of pain and in the company of loved ones. Our patients and families have the assurance that they are being served by one of the oldest and largest non-profit hospice programs in Texas. We provide family-centered, quality end of life care that emphasizes compassion, independence, respect and dignity.”

Big Brothers Big Sisters “helps children reach their potential through professionally supported one-to-one relationships with measurable impact.”

BookSpring “instills children with a love of reading and promotes books as a means to success. By offering a range of programs that support early literacy, BookSpring champions the value of reading and encourages parents to read to their children from birth on, resulting in stronger families and increased life-long opportunities for every child.”

“In its 28th year of service, the Capital Area Food Bank of Texas (CAFB) currently provides food and grocery products to more than 350 Partner Agencies in 21 Central Texas counties. In 2008, CAFB distributed more than 17 million pounds of food. The CAFB service area covers 19,064 square miles in Central Texas.”

Caritas “provides a service continuum for those experiencing poverty that begins with a safety net and links them to resources to achieve self-sufficiency.”

“Through faith in action, Austin Habitat for Humanity builds homes in partnership with families and engages our community to end the cycle of poverty housing.”

“This year, MOWAM celebrates 37 years of service in the Greater Austin area. What began as a program of eight volunteers serving 29 seniors has now expanded into a multi-service organization of 5,000 volunteers serving almost 2,500 elderly and disabled persons each day.

Aside from preparing an average of 936,009 meals in 2008 year, MOWAM also offers many other programs designed to keep people healthy and living in their own homes.”

SafePlace “exists to end sexual and domestic violence. Nationally recognized for its innovative and effective programs, we have been providing women, children and men a place of safety, compassion and empowerment in Austin, Texas since 1974.”

Save Our Springs Alliance works “with local conservation groups to advocate for protection of Barton Springs and the Edwards Aquifer.”

The Arc of the Capital Area “is dedicated to providing personalized, community-based services that improve the quality of life for individuals with intellectual and developmental disabilities and their caregivers.”

Volunteer Legal Services of Central Texas “helps low-income clients access the civil justice system by providing volunteer attorneys who donate free legal advice and representation, and by supporting and training those attorneys.”

The mission of Boys & Girls Clubs is “to inspire and enable all young people, especially those who need us most, to realize their full potential as productive, responsible and caring citizens.”

Although many of the newer subdivisions (newer, meaning, in the last 20 to 30 years) still have HOAs and Restrictive Covenants that require (yes REQUIRE) grass in front of the homes, many of the older areas, and subdivisions that understand the impact lawn-watering has on our (dwindling) water supply are seeing a distinct trend towards more drought-tolerant and species that are native to Central Texas that can withstand the blistering heat of the long summer without requiring daily watering to stay alive.

In addition to this, I’m seeing some interesting fence and stonework designs cropping up around town.

You will find Triangle Park at The Triangle at 4600 Lamar (46th Street and Lamar), with plenty of free parking at surface lot next door and The Triangle retail parking garage down the street.

The Austin Farmers Market at the Triangle is on Wednesday

Austin Sustainable Food Center Farmers’ Market at The Triangle

Open Year-Round, Rain or Shine
March – September, 4 pm to 8 pm – Wednesdays
October – February, 3 pm to 7 pm – Wednesdays

Take Your Whole Family to Support Texas Growers

Your kids will love the Farmers’ Market at the Triangle on Wednesdays. They will find real fruit icees, succulent tacos, and a cool water feature to play in at the park.

If you have a pile of ‘em like we do, getting there can be a real production, complete with sibling rivalry about who gets to carry the bags (or, more realistically, who HAS to carry the bags), it’s important for them to understand better that our food can’t, and shouldn’t, just come from the big stores. Especially when that food has been trucked cross-country, or worse, from out of the country.

Supporting Texas growers is essential - it helps keep our local economy healthy as we keep ourselves healthy, too. On the way, we discuss why we’re willing to pay more for the produce, and what organic means, and so on. The time in the car is well-spent on these topics, and I hope they’ll record these trips in the fond part of their childhood memories, much like I have for the 7am trips to the farms stands on the summer Saturdays of my own childhood. I hated getting up early but the corn and beefsteak tomatoes were worth the sacrifice.

If you can, consider adding a weekly trip to one of these locations for the Austin Farmers Market – Triangle – support your local Texas growers. The food tastes better because it IS better – fresher, frequently organic, tastier.

You can find a full list of the regular vendors (not all vendors attend all market days) on the Austin Farmers Market Vendors list.

[View with PicLens]

The Market Value of a property is the amount it should fetch if it were offered for sale when neither the buyer nor the seller are in distressed positions.

Who Can Perform a Real Estate Appraisal in Texas?

Only licensed Texas appraisers can perform real estate appraisal in Texas.

Appraisers are licensed and regulated by the Texas Appraiser Licensing and Standards Board (TALCB).

When Is An Appraisal Necessary in Texas?

An appraisal is necessary anytime someone needs to know the market value of their home or land, or the value of property for which they are legally responsible.

• Lenders order appraisals during the mortgage application process to make sure it is worth as much as the loan amount.
• Lenders also order appraisals when a home is refinanced.
• A home owner may need an appraisal in order to get PMI removed from their mortgage.
• When someone dies, a Date of Death Appraisal is necessary to determine the value of the property.
• A divorce appraisal is usually necessary during a divorce.
• A real estate appraisal can also help lower your taxes if the tax assessors office valued your home too high on the tax rolls.
• People wanting to sell their home FSBO (For Sale by Owner) in Texas should have the home measured and appraised to make sure they have accurate information for selling their home.

Who Orders the Real Estate Appraisal?

That depends on the intended use of the appraisal.

• If the appraisal is for a loan, the lender will order the appraisal.
• If it is for a divorce, a date of death appraisal, to dispute taxes or for selling a home FBSO, the person who needs the appraisal can order one from a licensed Texas appraiser.
• A homeowner who wants to get PMI cancelled can also order an appraisal – but should speak with the mortgage holder first.

How Do I Prepare for a Real Estate Appraisal?

This short video will give you the quick list of what you need to know to prepare for a real estate appraisal.

You should also read the article on Appraisal IQ called How to Prepare for a Real Estate Appraisal.

What Happens Before the Appraiser Comes to My House?

Prior to the appraisal inspection, the appraiser will research information about the property and the neighborhood. This includes confirming that the details (lot, block, street address, etc.) are correct, which establishes that the correct property is being appraised.

What Can I expect When the Appraisers Visits My Property?

After doing his or her initial research, the appraiser will visit to perform the appraisal inspection.

This inspection will include the following basic steps:

• Measurement of the exterior and part of the interior. The calculated square footage will include all interior, conditioned space and will not include covered patios, balconies or walkways. The square footage of the garage will also be determined and reported, but is not considered to be part of the square footage of the home.
• Observation of the condition, to assess if the condition is poor, fair, good or excellent condition. This observation step will include taking photographs to document the condition. These photos will include, at a minimum, a street scene (a photograph taken looking down the street, i.e., through the neighborhood), front and rear elevations, and interior pictures of the kitchen, bathrooms, fireplace(s) and living spaces. When the appraiser is assessing the condition, he or she is checking for conditions that could affect the value.
• Verification of upgrades that have been provided to the appraiser that may support additional value.
• Notation of permanent elements or features that could affect the value. This may include built-in cabinetry, built-in appliances, built-in BBQs, and other permanent items that may not be removed. The fact that an upgrade cost a certain amount does not necessarily mean that the property value will have increased correspondingly.
• Notation of the size and condition of the basement, including whether or not the basement, or a portion of the basement has been updated or finished. Although updated basements may affect the value of a property, the basement square footage is not included in the overall square footage reported for the property. Basement value is calculated separately from the main level(s) square footage.
• Verification that the property has a furnace and that the furnace appears to be in working condition. Please note that this is not a furnace inspection of the type a home or HVAC inspector would perform. The appraiser needs to determine that the furnace turns on, not that it functions as intended, which is out of the scope of a real estate appraisal. If the furnace does not appear to be in working order, the appraiser will not that on his report and an additional furnace inspection may be required to confirm the furnace is in good working order prior to the lender making the loan.
• Confirmation of the number of rooms. A room must have a closet and a window to be counted as a bedroom.

What Does The Appraiser Do After He Leaves My Home?

After the appraisal inspection, the appraiser will use this information to compare this property to comparable (similar) properties that have recently sold (or are for sale) in the market area for your home.

He is she will analyze the available market data along with the specifics for the inspected property to make his determination of market value in the real estate appraisal report.

Who Gets a Copy of the Real Estate Appraisal?

• The lender, if the lender ordered it.
• Otherwise, the client, which is usually the owner of the real estate.

Real Estate Photography in Austin could be a full-time occupation, an obsessive hobby, or something to do for fun just because you CAN!

You may have seen me lurking around your neighborhood, snapping photos, scribbling notes. You may have wondered what the heck that person was doing – the one that doesn’t even seem to notice the hustle and bustle of this vibrant city swirling around her and she steadies the camera to snap a photograph.

Oh, I DO notice the vibrancy of this city, and that is why I’m out there day after day, looking at property for clients, and taking photographs of Austin and the city’s glorious and varied neighborhoods whenever I get a chance. Most real estate web sites show photos of homes for sale. I wanted to show you even more of what you might be getting when you select a neighborhood for your new home, especially if you’ve heard rave reviews about it, but may not have actually hopped into the car and taken a spin through the area.

Sometimes I do just take photos of houses, particularly when I’m in a neighborhood like Travis Heights and can’t peel myself away from the FABULOUS colors and materials in use on homes, new, old and renewed. For those areas, Market reports can come later, after the itch has been scratched for real estate photography, not real estate market blogography (yes, I DID just say that!!).

When you read one of my Market Reports (search for that term in the search bar at the upper right) for an Austin subdivision or real estate market area, you’ll get details about a neighborhood and photos of more than just houses – you’ll get photos of the neighborhood as well, including local businesses, landscaping, and occasionally a fantastic skyline view of downtown Austin.

So, if you see a woman toting her camera, and occasionally a few extra kids, who appears to be mesmerized by her photographic subject, please come over and introduce yourself, and tell me all about YOUR neighborhood and when the pix gets posted, they’ll have even more of that Austin flair that makes this fabulous city our HOME.

If you need a place to start, check out the North Central Austin neighborhood of Crestview.

Appraisers use three approaches to value in Apprasal Practice when determining the Market Value of a property:

the Sales Comparison Approach, the Cost Approach and the Income Approach

1. The Sales Comparison Approach

The most frequently-used and accepted approach to determining value in real estate appraisal practice is the sales comparison approach. This approach bases its opinion of value on what similar properties (otherwise known as “comparables”, or “comps”) in the vicinity have sold for recently. These properties are adjusted for time, acreage, size, amenties, etc. as compared to the property that is being appraised. Understanding which (and to what extent) adjustments are reasonable for a given market area (for a given property) relies on the experience of the appraiser. A property characteristic that is highly valued in one neighborhood may not be valued to the same degree in a different area.

If you are buying a home, your appraisal, employing this approach, will be performed a week or two prior to the closing of your new home- the bank will require and appraisal to ensure that the market value of the property is consistent (as much as) the proposed loan value.

2. The Cost Approach

The second approach to determining the value of a property is the cost approach. This approach seeks to determine how much a property would cost to replace (meaning, rebuild) after subtracting accrued depreciation. Accrued depreciation is the reduction in actual value of property over a period of time as a result of wear and tear or obsolescence. The term reproduction cost is used if an exact replica of the original property is produced. The term replacement cost is used if a property is rebuilt with comparable utility, but using current design and contruction methods and materials.

The cost approach is considered to be more reliable when used on newer construction. The methods and results of the cost approach are considered to be less reliable with older construction.

The cost approach is frequently the only approach that is considered to be reliable when appraising special use properties such as commercial/industrial properties or public properties such as libraries, schools or churches which are not traded on the open market.

3. The Income Approach

The third approach to value is called the income approach. When a property generates income for it’s owner, that income, or potential for income, helps to substantiate, calculate or identify the market value of the property. Apartment buildings and duplexes are examples of income-producing properties. Appraisers use the income derived from the property as part of the assessment the market value of the property.

As I have recently become an appraiser trainee, working with my husband in our Real Estate Appraisal business (Appraisal IQ), a version of this was originally posted to our other web site which is focused on issues and topics in the appraisal industry, with emphasis on issues in Austin and Central Texas. Since these topics are also of interest to other people who are interested in real estate, I’m posting it here, too. I figure: the more I know about appraisal standards, the more I can help my client evaluate the properties that interest them!

A few weeks ago, I had carefully lined up a handful of promising listings for my clients. We were mid-way through the tour when we stopped by a new listing – one I hadn’t seen before. As per my usual habit, I entered first and was opening up rooms and turning on lights so my clients could take a good look.

Although I am usually prepared for all sorts of unusual features, this one caught me by surprise.

I opened the Master Bathroom door and a GIANT, and I mean GIANT, black lab pounced on me – all 500 pounds of slobbering, wiggling, exhuberant happiness of a dog that is THRILLED that someone has stopped by to visit. Guard dog she was not. I squealed and jumped back and my 7-month pregnant client did the same, as did her husband, who she bumped into as she wheeled around to flee the room! AUGH!

After recovering from the initial shock, and realizing the dog was friendly, I tried to calm her down with words and petting, but finally wrapped my arms around her neck and kneeled on the floor beside her to give her the love she needed to calm down. She needed the big guns – my weight vs. hers, to anchor her to the floor to keep her from bounding into the next room after my clients who were back in the entry, ready to make a quick exit, if needed.

Ah, the adrenaline rush.

Yes, dogs are lovely, but not if you want prospective buyers to get a good look at your house. If I had to describe that house to someone now, the only thing I remember is that the door to the master bathhrom was on an angle, closed, and that the DOG WAS REALLY REALLY BIG.

We probably won’t be back.

The entrance to the Teravista community provide a sneak peek for what you will encounter throughout: lush landscaping, open spaces, and lots of trees and bodies of water.

[View with PicLens]

Once you’re past the entrance, you will quickly encounter the Teravista Residents Club, complete with a swimming pool and playground.

[View with PicLens]

This subdivision is located East of 35, North of University Boulevard, West of 1460 (A.W. Grimes) and South of County Road 111. It has excellent proximity to Scott and White Health Care as well as one of the newest campuses for ACC (Austin Community College), the Round Rock Higher Education Center.

View Larger Map

Schools for the Teravista Community include:

Terevista Elementary School
4419 Teravista Club Drive
Round Rock, TX 78665-5013
Phone: (512) 704-0500
Fax: (512) 704-0590

James G. Walsh Middle School
3850 Walsh Ranch Road
Round Rock, TX 78681
Phone: (512) 704-0800
Fax: (512) 704-0940

Hopewell Middle School
1535 Gulf Way
Round Rock, TX 78665-1405
(512) 464-5200

Stony Point High School
1801 Tiger Trail (formerly Bowman Rd.)
Round Rock, TX 78664
Phone: (512) 428-7000
Fax: (512) 428-7280

Because school boundaries change frequently, you should always talk to the school district to make sure you know for sure which schools are mapped to your homes. One handy tool, offered by The Round Rock Independant School District (RRISD) is the School and Bus Route Finder which shows the 2010-2010 Boundaries.

Builders for Teravista Include:

Buffington Signature Homes • 512.529.4789
CastleRock Communities • 702.332.1131
Centex Homes • 866.873.9494
D.R. Horton • 512.255.3337
Lennar Homes • 512.388.8224
Meritage Homes • 512.733.6060

Ryland Homes • 512.671.9000

Spicewood Communities • 512.628.1200
Taylor Morrison • 512.388.4740
Wilshire Homes • 512.341.3829

If you’re planning to build a home with one of these builders, please let me work with you as your Buyers Agent. This service will be FREE to you, and will not add anything to the cost of your new home. You should know that everyone you will be working with at the builder works on behalf of the builder. You NEED someone who represents YOUR interests in this complicated and important transaction. Because builders are not inclined to reduce their prices if a Buyers Agent isn’t involved, you have nothing to lose, and everything to gain by selecting me, Alison Shuman, as your Buyers Agent when you decide to buy real estate in Central Texas. Please read my article on Why Do You Need a Buyers Agent for more information.

Teravista has over 1000 existing homes, with the first ones dating to 2002. Teravista Section 01 and Teravista Section 02 were built between 2002 and 2007 and contain 86 homes. These homes range in size from 2240 to 5048 square feet of conditioned living space (not including the garage and covered porches). Lots sizes range from .121 acre up to .3745 acre (just over 1/3 of an acre).

In the last 8 years (2002 to June 7th, 2010), 593 homes have sold in Teravista that were listed in the MLS (aka ACTRIS, provided by The Austin Board of REALTORS, aka ABoR). This number does not include homes that were sold directly to the new owners by the builders. Of the 593 homes, the smallest sold was 1406 square feet and the largest was 4911. The median size (meaning half were bigger and half were smaller) was 2651 square feet.

In the six months leading up to June 7th, 2010, 62 properties sold in the Teravista Subdivision. The least expensive home sold for $162,500 in March and had 1848 square feet. The most expensive home sold in April for $387,829 and had 4588 square feet.

As of June 7th, 2010, 59 homes are for sale in Teravista. This may or may not include some homes that are currently completed and for sale by builders. The least expensive home listed is $155,000 and has 1893 square feet. This one is a short sale, which means the owner is selling it for less than the current balance on the mortgage. This transaction will require more paperwork than your average real etsate transaction, but the price is so low compared to the average listing that this might be a good way to get into a really nice area at a price more consistent with neighborhoods that have fewer amenities. The most expensive home currently for sale in Teravista is listed at $365,000, was built in 2007 and has 3830 square feet.

The photos that follow are NOT homes that are currently for sale in Teravista. These photos are meant to illustrate the typical style and architecture of the homes in this subdivision. You can search for homes that are currently for sale in Teravista on my Fabulous Home Search Page, or you can drop me an email via my online contract form with details about what you’re looking for and I’ll be happy to go shopping for (or with) you!

[View with PicLens]

Around these homes you will find lots of beautiful open spaces as well as extensive brick and limestone walls that separate neighborhoods and buffer residential areas from the major traffic streets through the subdivision:

[View with PicLens]

Finally, these street shots show the typical proximity of houses to each other within the Teravista subdivision in Round Rock, Texas:

[View with PicLens]

Once upon a time we had our own backyard orchard, complete with orange, lime, lemon and nectarine trees. Our two apple trees had grafts for 9 different varieties of apples, most of them heirloom varieties, but the squirrels usually beat us to the fruit. The front yard had a cherry tree and a few baby blueberry bushes, and I was in hog heaven, or at least in fruit-growers nirvana. Alas, we moved and our current house in Austin has very little sunlight in the back yard, thanks to several huge old oak trees.

Even a little sunlight, however, is enough to get me to spend $300 (yes, I know) on plants, tools, dirts, fertilizer, hoses, and seeds and to hustle the kids outside for a few weekends of fun in the dirt. We dug, we played, we sprayed each other with the hose, and then we spent weeks leading into months tracking the progress of our sorry little band of sunlight-starved, heat drenched plants. My little Austin locavores in the making have far more stamina than I do for the daily ritual of checking on the status of each little seedling and plant, but my heart brims with joy as they burst through the back door with each day’s update on our family garden.

If you love the idea of the locavore movement and haven’t yet read Animal, Vegetable, Miracle: A Year of Food Life by Barbara Kingsolver, grab a copy from your local book purveyor – it’s well worth your time. The book chronicles one family’s year of trying to eat locally, with primary emphasis on what they can grow on their own family farm.

We might not ever get to harvest much more than some fresh herbs and lettuce from our own tiny back yard vegetable garden, but we still love love love the concept, especially the part about playing in the dirt for a good reason, and one day we’ll have another yard where we can have a much bigger and (hopefully) more productive garden plot.

Until then, we’ll visit the local Austin Farmers’ Market and bring our fabric bags laden with fresh locally and sustainably grown produce HOME.

[View with PicLens]

Crestview, in North Central Austin is a neighborhood full of small, single-family homes built primarily in the 1940s, 1950s and 1960s.

These homes are on larger-than-average lots with pier and beam construction. The streets in this area are lined with gracious and mature trees that provide some measure of respite from the blistering Texas heat.

Crestview Home Styles

If you like cottages, bungalows and 1950s ranch-style houses, you will love Crestview. The median size of a home in this area is under 1200 square feet, with 3 bedrooms and a single bathroom. A number of these homes are still owned by original homeowners, and some have been in the same family for decades.

Occasionally one will come on the market that is in pristine condition, with the original pink or mint green tile in the bathrooms and perhaps yellow or mint green tile on the kitchen counters. More common, however, are homes that have seen a lot of wear and tear and need quite a bit of TLC to make them fresh and happy again.

The majority of these homes are single-story, have horizontal siding, or have an exterior that is at least partially brick. Many sport 12″ x 24″ asbestos shingles on the sides and backs.

Photos of Homes in Crestview in Austin

(Please note that these are not photos of homes for sale in Crestview. These photos are shared on this website to illustrate the character and the architecture of this Austin neighborhood.

[View with PicLens]

12►

Part of what makes Austin such an interesting place to live is the sheer variation in the population – if it is odd, strange, curious, cool, neat-o keen, weird, funky, hip, hot, or da-bomb, we probably have some of it, or maybe even a lot of it. We have some eye-catching vehicles that live in Crestview that add color to the landscape:

[View with PicLens]

2010 Real Estate Stats for the Crestview Neighborhood

As of May 25th, 2010, 25 homes have sold in this area for this calendar year. The least expensive one was built in 1953, had 1337 square feet and sold for $110,000. The most expensive one was 2286 square feet, was built in 1947 and sold for $369,000.

Also as of May 25th, 38 homes are for sale in Crestview. The least expensive one is listed for $175,000, was built in 1959 and has 1248 square feet. The most expensive single-family home currently for sale in Crestview was built in 1953, has 1707 square feet and is listed for $379,000. The median home for sale has 1287 square feet, is listed for $269,389 and has been for sale for 52 days.

Google Maps for Crestivew in Austin

Crestview is bordered by West Anderson Lane on the North, Lamar on the East, Justin Lane on the South and Burnet on the West.

View Larger Map

The homes in this neighborhood are within walking distance of many nearby businesses and services:

This area of Austin, on Burnet and Anderson Lane has a ton of funky and useful businesses where you can get your car fixed, get drunk and buy vintage/imported/primitive/recycled goodies for your home, all within a few blocks. Some of these establishments have been around for decades while others are fledgling enterprises that really need your local support to grow and thrive, and to survive the competition from the big box stores that lure many shoppers father north along MOPAC and 183 and up into Cedar Park.

[View with PicLens]

Have you visited The Great Rug Company on Burnet? This store has a nice selection of rugs to spruce up your home or office.

How about Top Notch Hamburgers, also on Burnet? The reviews are all over the map, so you’ll need to decide for yourself if this burger joint is going to make your A-List of Austin burgers.

The Book Exchange on Burnet has been in Austin for over 30 years and has over 90,000 books for you to browse and buy.

El Mercado Mexican Restaurant opened over 23 years ago in South Austin and now has 3 locations in South, Central and North Central Austin.

Sacred Streams Yoga has an avid following of practitioners and a well-educated and experienced staff of professionals leading daily classes.

Dragon’s Lair Comics and Fantasy is a interesting place to spend a hot afternoon browsing, and of course, buying some stuff to take home for your entertainment. This comic book store has been in business in Austin since 1986 and has a location in San Antonio as well.

Freytag’s Florist has been in Austin since 1974.

I’m getting a lot of questions lately about Market Conditions and Mortgage Financing. If these are things on your radar because you’re thinking about getting into the Austin Real Estate Market, keep reading, or pick up the phone and call your REALTOR® (that would be ME, Alison!) at (512) 585-4758. The short answer is there are a LOT of good reasons why NOW is a good time to buy a home in Austin..

It is ALWAYS a good time to get up to speed about current market conditions, both for purchasing a home and for talking to someone about arranging for the financing for that home – your home, an Austin home, in one of the most vibrant cities in Central Texas, and in the rest of the country as well.

In my Coldwell Banker United REALTORS® office (in the Arboretum, near the corner of 183 and 360), is a mortgage broker (Marie Funston) who can meet with you to discuss your financing options. You can also speak with someone at the bank where you do your regular banking, or perhaps with the loan officer at a Credit Union affiliated with your employer. That plus a good old-fashioned web search will yeild a lot of very useful information about mortgage financing options.

Discussions about financing needs to be one of your first moves when starting the home search process, not one of the last. To be in the best position to make a strong offer when you find a home you really really really like, you need to know where you stand, and that includes knowing how your credit stacks up in the eyes of a typical lender.

Don’t get cold feet on this one – knowing where you stand is EMPOWERING. When you know you CAN buy a home, it puts you that much closer to actually making the move you’ve been considering – into a home of your OWN!

Interest Rates are Near Historic Lows.

Check out this graph, reproduced with permission from Mortgage-X.com:

Now that you’ve seen how low rates are, check out what it would cost you to borrow what you need:

It’s never too early to talk to a REALTOR® (that would be ME, Alison, (512) 585-4758) about what you can do to be in the best possible position to buy the home of your dreams.

Before You Take the Plunge, Want to See What’s on the Market?

The web has a lot of great places to search for real estate in Austin, and as it so happens, FindRealAustin.com has one of the best tools on the market for searching for homes in Austin and the surrounding areas! The map feature of the FindRealAustin.com Home Search has an amazing number of features – plan to spend a bit of time exploring the cool ways to find homes in Austin that you like. When you’re ready, you can save your searches, or send me an email and we can set up a time to chat about how I can help refine your search for your Austin home!

Yes, A Lot of Great Properties are for Sale in Austin!

What is the last piece you need to get into the Austin Real Estate Market?

Do you live in Northwest Austin and wonder what your property is worth?

If your home maps to Spicewood Elementary School, an Exemplary RRISD school, the market data below can give you a snapshot of what is happening in the real estate market in your area!

This data is for the homes that are within the 2009-2010 Spicewood Elementary School, Canyon Vista Middle School and Westwood High School (all three) attendance boundaries, including these subdivisions: Anderson Mill Estates, Arboretum Park (the new development behind the new small business strip near the southwest corner of Anderson Mill and 183), Balcones Village, The Enclave, Villages of Spicewood, Estates of Brentwood, Laurel Canyon, Spicewood At Balcones Villages, Spicewood At Bull Creek, Spicewood Estates, Tanglewood Estates and Whitney Oaks. This area is south of Anderson Mill, West of 183 and North of Spicewood Springs.

As of May 24th, 2010 this area has 45 properties for sale listed with the Austin Board of Realtors:

Also as of May 24th, 36 homes have sold:

If you have been thinking of selling your home, or just want to talk about the neighborhood or the local market, I would love to speak with you! Do you know someone who would love to move into the area and needs an agent familiar with the local market, and why this area is FABULOUS?

Let’s talk!

The homes from both subdivisions share many similarities: gorgeous mature trees, lots that are partially flat and partially hilly, and are mostly four-sides masonry (limestone and brick) with some siding on the second story. The overall character of the area is that of well-maintained properties, some with extensive and meticulous landscaping. Although many of the streets are wide, many are also quiet, and many of these homes are in coves (cul-de-sacs). This area has terrific proximity to 183 (3 to 7 minutes) and 360 (8 to 12 minutes), making it the area of choice for many people who need to commute towards central Austin.

[View with PicLens]

These homes that map to three Exemplary Round Rock ISD Schools:

(Kathy) Caraway Elementary School
512-464-5500
11104 Oak View Dr.
Austin, TX 78759

Canyon Vista Middle School
512-464-8100
8455 Spicewood Springs Rd.
Austin, TX 78759

Westwood High School
512-464-4000
12400 Mellow Meadow Dr.
Austin, TX 78750

Oak Forest was built between 1972 and 1996 and has over 750 homes. This older subdivision is located North and Northeast of Oak View Park. The smallest home in this subdivision is 1308 square feet in conditioned space (not including covered porches, patios or garages). The largest is 3643 square feet. The average home is just over 1950 square feet and the median home size is just over 1900 (half of the homes are smaller than 1900 square feet and half are larger). Because this subdivision was built in many sections over 24 years, the architectural styles vary considerably, from single-story ranch homes to much grander scales homes with high ceilings and newer architectural details such as crown moulding and coved ceilings.

The 228 homes in the Windridge subdivision were built between 1981 and 1996 in four sections and wrap around the South and West sides of Oak View Park. The smallest home in this subdivision is 1688 square feet in conditioned space (not including covered porches, patios or garages). The largest is 4926 square feet. The average home is just over 2600 square feet but the median home size is just under 2400 (half of the homes are smaller than 2400 square feet and half are larger).

As of May 23rd, 2010, there are 16 properties for sale in this neighborhood, ranging from $220,000 for a 1604 square foot home built in 1971 to $599,900 for a 3784 square foot home built in 1993 with an elegantly appointed pool and outdoor entertaining area.

View Larger Map

I know my fridge and washing machine are OLD, and they are probably sucking a lot more energy than necessary. That means it’s time to GO SHOPPING!!

The nice folks at HouseLogic have put together a great series of well-researched articles on what to look for when it comes to shopping for more energy-efficient appliances. Check them out and maybe you’ll find yourself waiting for that delivery between 7am and midnight sooner than you had anticipated!

Our friends at Gracy Title produce fantastic fliers and charts that clearly show the trends in Austin Real Estate. This fantastic map shows the changes in the number of properties sold in Austin and Central Texas between April 2009 and April 2010 and came from:

Suzanne Jacobs
Sales Executive
Gracy Title
8240 N. Mopac Expressway, Suite # 100
Austin , TX 78759
cell: 512.656.7094 | office:512.346.3500 x1906 | fax: 512.346.7132

Our friends at Gracy Title produce fantastic fliers and charts that clearly show the trends in Austin Real Estate. This fantastic map shows the changes in the median sales price for homes in Austin and Central Texas between April 2009 and April 2010 and came from:

Suzanne Jacobs
Sales Executive
Gracy Title
8240 N. Mopac Expressway, Suite # 100
Austin , TX 78759
cell: 512.656.7094 | office:512.346.3500 x1906 | fax: 512.346.7132

30-yr Fixed – Slightly Lower
Last Week: 5.06%
Previous Week: 5.07%
1yr Ago: 4.78%

15-yr Fixed – Unchanged
Last Week: 4.39%
Previous Week: 4.39%
1yr Ago: 4.48%

Jumbo Fixed (Average 30-yr Fixed)
Last Week: 5.50%
Previous Week: 5.50%

Highlight of Last Week’s Major Economic Reports

With the expiration of the homebuyer tax credit and interest rates uncontrolled by the Fed, the housing market is now back to being fully on its own. We won’t know for awhile what impact the tax credit had on sales, so it’s hard to gauge what impact its expiration will have on the rest of the spring-buying season, but we can at least take comfort in the rest of the economy starting to gain much-needed steam, which will inevitably help home sales.

The Fed gathered for its monthly meeting last week and voted to keep short-term interest rates unchanged. Furthermore, they indicated that rates will “remain exceptionally low” for “an extended period of time” despite the fact that “economic activity has continued to strengthen and that the labor market is beginning to improve.”

To support the brighter economic outlook, the latest GDP reading, to show the economy’s growth in the 1st quarter of 2010, revealed the nation’s third consecutive quarter of positive growth with 3.2%.

What to Look for This Week

The all-important employment report will take center stage to give us an updated peek at the state of the labor market. The pace of the economic recovery will likely remain “moderate” until the jobs start coming back.

Stay Informed: What’s in the News

“End of Home Buyer Tax Credit Unlikely to Deter Most Real Estate Buyers” from Ris Media

The expiration of the 2010 Home Buyer Tax Credits on April 30 is unlikely to put off Americans looking to purchase homes who believe now is a good time to buy and are confident that home prices will rise according to a survey released by Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. company. The survey of 1,000 Americans between the ages of 25-64 with at least $35,000 household income was conducted during April 15-20, 2010. More than 90% of consumers believe that the home buyer tax credits have helped both first-time home buyers and the U.S. housing market overall.

“Texas Cities Best Places for Jobs” from Fort Worth Star-Telegram

For the second year in a row, Texas cities took half of the top ten spots in Newgeography.com’s annual ranking of the best cities in the nation in which to find a job.

Austin–Round Rock–San Marcos ranked first, San Antonio–New Braunfels second, Houston–Sugar Land–Baytown third, Dallas-Plano-Irving fifth and Fort Worth–Arlington seventh.

Among the medium-sized cities that Newgeography.com ranked, El Paso was fifth, McAllen-Mission-Edinburg was sixth and Corpus Christi was seventh.

College Station–Bryan was the third best smallest city in which to find a job. Killeen–Temple–Fort Hood was fourth.

The rankings are based on three-month rolling averages of monthly employment data from the Bureau of Labor Statistics from November 1999 to January 2010.

Austin Ranked Among Cleanest Air Cities from Austin Business Journal

“Foreclosures Increase 27% in Q1” from Austin Business Journal

Austin-Round Rock area home foreclosures increased 27 percent in the first quarter compared with the same three months last year, according to a RealtyTrac Inc. report released today.

About 1 in every 226 houses foreclosed, which ranked the city low among other metros, taking the No. 116 spot of 203. Just 0.44 percent of all housing units foreclosed in the first quarter in the area compared with 3.51 percent in Las Vegas, which was the worst hit, according to the report.
The number of homes foreclosed in Austin last quarter was also about 20 percent higher than the fourth quarter 2009, increasing from 0.38 percent of homes to 0.44 percent. A total 2,908 Central Texas homeowners filed last quarter.

“Texas Existing Home Sales, Prices Up in March” from Texas A&M Real Estate Center

A total of 19,330 existing single-family homes were sold in Texas last month, up 16 percent from March 2009, according to MLS data compiled by the Real Estate Center at Texas A&M University.

Austin Sales – 1,999 (up 33% from last year)
Median Price – $178,600 (no change from last year)
Months’ Inventory – 6.6

Risk of Major Home Price Decline Low in Texas from Texas A&M Real Estate Center

Translating What the Fed Said from Bankrate.com

“Texas 12th Most Affordable Home Care in U.S.” from Austin Business Journal

Home health and other long-term care services in Texas are among the cheapest in the United states, according to Genworth’s 2010 Cost of Care Survey released Tuesday.

Texas users pay a median $41,070 annually, 6 percent lower than the national $43,472 average, ranking Texas 12th most affordable in the U.S.

Marie Funston
marie@austinmortgageadvisor.com
www.mariefunston.com
(512) 750-7270
(re-printed with permission from Marie Funston)

Copy