Austin, Texas Real Estate Blog and Lake Travis News

Central Texas home sales up 11 percent in November

2012-01-01T21:32:00.000-06:00

Central Texas home sales up 11 percent in November

Short term rental Regulations to be discussed at City Council

2011-07-16T21:33:00.000-05:00

WOW- How will this impact you????

City Council to Discuss Adopting New Short Term Rental Regulations

At their regular meeting on July 18th, the City Council will discuss the possibility of adopting regulations that would require property owners to obtain a license for the short term rental of residential property (less than four weeks). These licenses would include conditions intended to ensure the compatibility of the rental property with neighboring residences. Short Term Rentals Summary

If you’re interested in this subject, we encourage you to review the following documents:
(1) Short Term Rental License - the ordinance establishing the licensing requirement;
(2) Zoning Ordinance Amendment - the ordinance amending our zoning regulations to allow the use in residential districts;
(3) Fee Schedule Rentals - the ordinance amending the fee schedule to cover costs associated with the licensing;
and to attend the hearing on the 18th.

Questions regarding these proposed ordinances should be directed to Shannon Burke, Director of Building and Development Services, at 314-7542 or shannonburke@lakeway-tx.gov.

5 STAR PROFESSIONAL AWARD - Texas Monthly June 2011

2011-06-30T13:06:00.000-05:00

Congratulations are in order for Cyndi Cummings- the 5 Star Professional award represents less than 3% of a select group of real estate agents in Austin, San Antonio and Central Texas region! Agents were evaluated by past clients and industry experts on n...ine criteria: customer service, communication, finding the right home, integrity, negotiation, marketing the home, market knowledge, closing preparation and overall satisfaction. Work with one of the elite-Cyndi Cummings.

How to Tell if Your Housing Market Has Hit Bottom

2011-06-20T17:18:00.001-05:00

http://on.wsj.com/laATku

Three essential clues may signal if better times are ahead!

Deer Attacks in Lakeway

2011-06-20T17:04:00.001-05:00

Do not feed the deer! These graceful animals are not always as kind and meek as Bambi.
Deer Attacks in Lakeway

Lakeway approaching 50-year anniversary

2011-06-20T11:45:00.000-05:00

The City of Lakeway has seen a lot of growth in the past half-century, growing from a sleepy resort village to the city it is today. Below is a very interesting article about the changes the city has seen and the upcoming anniversary.
Lakeway approaching 50-year anniversary

Lakeway's big business boom!

2011-06-13T15:37:00.000-05:00

Those of us who have lived in the Lake Travis area for a while can remember when there were few retail options until very recently. I've been keeping track of the recent building projects in the Lake area and have created a page on my website with some details of these exciting new projects. Check it out!

Lakeway Texas 4th of July Parade 2011

2011-06-07T18:27:00.001-05:00

LAKEWAY PARADE
8:30 am Monday July 4th
Lakeway Drive from the Live Oak Course to the Lakeway Church
I will forever be grateful to our then neighbors-George and Jojo who took us to the Lakeway Parade the first year we moved here. I had never seen a parade such as this and was overwhelmed with patriotic feelings. Since we had recently moved from Oregon I remember crying when I saw the parade of golf carts with state flags attached. The sight of all of the senior citizens with their extended family-mostly grandkids- on the carts with them was the last straw and the tears came down.

If you have never been to a small town parade, then you have to see this parade. Often I heard people say there are more people in the parade than watching it. I think those numbers have changed as the city has grown.

My husband and I had a friendly competition each year to see who's float would win the parade that year. We were always on different floats and his seemed to always beat mine.....Now we take the dogs and folding chairs and watch the parade from the sidelines.

For more info about the city of Lakeway visit my website. If you would like to be in the parade you can pick up an entry from Lakeway City hall or contact Paula Crawley- she is the chair this year. 512-261-1938 or
paulacrawley83@gmail.

Lakeway Texas Swim Center opens for the Summer Today!

2011-05-30T08:54:00.001-05:00

Come for a dip yourself or bring the family to the Lakeway Swim Center, 3103 Lakeway Blvd., Austin, Tx, as it is opening for the summer season today!

If you are thinking about a pool party or to become a member call 512-261-1010.

For three month until August 21st, 2011, you will be able to swim. . Regular leisure pool hours are Tues - Sat (Noon to 8 PM) and Sun (Noon to 6 PM). Fees are Age 2 and under (Free), Age 3 - 18 ($4 - $5), Age 19 - 55 ($5 - $6), Age 55+ ($4 -$5) depending upon residency.

For more information about the Lake Travis area visit my website.

Household Hazardous Waste Event in Lake Travis

2011-05-16T18:40:00.000-05:00

On Saturday, May 21, 2011, there will be a Household Hazardous Waste Event in Lake Travis. Click on this link to see the full flyer. The flyer will tell you what you can and can't bring. If you are over 65 and need help getting items to the event, let me know, I will try to assist you!
8am to noon
Hudson Bend Middle School
15600 Lariat
Austin, Tx 78734

Local Treasures in the Lake Travis Community

2011-05-10T00:25:00.002-05:00

Local Treasures in the Lake Travis Community

Lake Travis is a special place to live. The natural beauty of the hill country, combined with all of wonderful restaurants, stores, outdoor recreation and other services make this area unique. Just this morning my husband and I were talking about all of the wonderful things we can do here, from golfing to boating to hiking on our local trails. You might think this weekly blog will be about those treasures, but I will focus on our neighbors who are treasures too! Each week I will feature a neighbor that has inspired us and helped to make our community better, just by their sharing of their gifts.

I selected the first neighbor I will feature because I was curious as to why she does what she does. I do not just think of her once in a while, I think of her at least once a day if not more! Joy Hrobak has contributed so much in helping our community with her e-mailed community bulletin board that I just had to meet her and share with others what I learned about her.

If you are not a subscriber to her board, then you have definitely been out of the loop about news in the Lake Travis area. But I am getting ahead of myself, let me share what I learned about Joy….

Joy and her husband, Bob, have lived in the Hills of Lakeway for about 17 years. Joy was born in Yantis, Texas and Bob is from Harrisburg, Pennsylvania. Yantis had a population of 200 when Joy was born there and today the population is still only 321. The Hrobaks still own a log cabin there that they visit occasionally.

Joy has had several jobs throughout her life time, but perhaps the most exciting was when she was flight attendant for Eastern airlines. She was selected, along with 3 other attendants, to work the campaign plane for the Goldwater/Miller presidential ticket. At that time there were 1700 attendants and this was a highly coveted assignment!

She has had the good fortune to live in many wonderful places including Florida, San Francisco, Los Angeles, Cincinnati, Honolulu and Japan. But, she loves the Lake Travis area most of all and is happy to be retired here!

So how did the bulletin board begin? About 12 years ago Joy was the newly tasked Social Chairman for The Hills Country Club. This was a volunteer position (as is the bulletin board!) and Joy began to realize there was no way to get the word out about events occurring at The Hills. The board began with just club members, but it has quickly grown from there. She started with 400 e-mail addresses and now has over 1,500.

The first post, other than social events, was for a boat for sale. She doubted that it would sell because of her list but it sold to the first person that contacted the seller! Now she posts items from time shares to jewelry, non profit events to restaurant specials, cars to toys. The posts that Joy is sure to get out right away are those regarding lost pets. She is happy to have reconnected many pet owners with their beloved animals. There are some things she will not post and really takes a close look at the posting to see if someone might be “pulling her leg”. To post, you must include your name, number and email. She prefers that posts be 50 words or less and she finds that she averages 12 postings a day. She is using the AOL email system which requires she break up her email messages in packets, so it sometimes takes her 6 hours to get out 12 posts!

So, why does Joy spend such a great amount of time on the Bulletin Board? Because she recognizes that many people have been helped by it. She plans on continuing to post items, but has been thinking about a transition down the road. She is considering some changes to her process to shorten her time commitment, but nothing is firm for now. I was glad to learn that she won the Lake Travis Chamber of Commerce Unsung Hero Award last year. In my opinion that is a well deserved honor because she has given so much of her time to help out so many of our neighbors!

To join Joy’s distribution list simply e-mail her at jhrobak@aol.com.

Check back next Monday to learn more about another local “Treasure”.

Lake Travis Community asked to "Get Their Green On" April 30th, 2011

2011-04-22T09:47:00.001-05:00

Announcing Saturday April 30, 2011 is Get Their Green On

REsolve Group, LLC, a real estate and design/build firm in Lakeway, invites the Lake Travis community to “Get their Green On” at our first annual Earth Day Event! Please join us as we celebrate EARTH DAY 2011 by bringing your old electronics for recycle on Saturday, April 30th from 8:00am – 12:00pm to the Emmaus Catholic Parish front parking lot.

      It's as easy as 1, 2, 3!

     1.     Go through your house, garage, and office and load your car with any old electronics.
     2.     Bring them to the Emmaus Catholic Parish parking lot.
     3.     Pop your trunk - you won't even have to get out of your car!

*Recycled items are reused or disassembled and their parts reused. Items are never taken to a landfill.

We would also like to invite all youth to participate in this event! Be there to support our community by transporting electronics from residents' cars to our Earth Day moving truck. We will provide food and drinks following the event for those that RSVP with REsolve Group. Invite your friends and come join us!
Recycling items include:                    Items we cannot accept:

-Computers                                    -Refrigerators
-Radios                                               -Air conditioners
-Telephones                                       -Dehumidifiers
-DVD players                                   -Washer/Dryers
-CD players                                     -Other large appliances
-VCRs
-Tape players
-Speakers
-Turn tables
-Monitors
-Modems
-Video game consoles

We hope to see you there!

David Heckler                  Margaret Heckler
Broker / REALTOR            Graduate Architect
Registered Architect          Project Manager
Reg. Interior Designer        Marketing Director Margaret Hecklermargaret@REsolveGrp.com
REsolve Group, LLCwww.REsolveGrp.com
512.777.1714www.REsolveGrp.com

For more information about recycling in the Lake Travis area go to
http://www.lakewayrecycling.com

April 30th Shred Day

2011-04-22T09:17:00.002-05:00

Announcing Saturday April 30 is

Lakeway Boy Scout Troop 52 Shred Day

Bring us your sensitive documents and we will shred them into tiny pieces !!

Saturday April 30, 8:00 to Noon
Emmaus Catholic Church
1718 Lohman's Crossing Road
Lakeway, TX

Thanks to CINTAS Document Management for sponsoring Troop 52s Shred Day. Remind everyone you know to bring your stuff and get it shredded.

Please be prepared to make a donation to the Lakeway Boy Scout Troop 52 if you can.

For more information about local recycling efforts go to
http://www.lakewayrecycling.com

Travis County Property Tax Meeting

2011-04-06T22:52:00.001-05:00

A Travis County Property Tax Meeting was held at the Lakeway Activity Center last week. I decided that as a Realtor it would be very beneficial for me to attend so that I might share what I learned with my clients. Honestly one of the biggest reasons why I wanted to attend was to meet the person that I write many checks to-face to face- Nelda Spears! Sadly she did not attend and I was not able to post that picture of her and I that I had hoped for......

The room was setup for 50 or more people. There were three attendees, including myself. Although I did not have a particular question the other attendees did. I was there to learn so I settled into my chair.

Tina Morton Director of Public Information and Training from the Travis County Tax Office spoke first. Next Marya Crigler spoke and Chief appraiser Patrick Brown also shared information.

Here are the highlights from the meeting from my perspective.

1. 12 appraisers have been in the Lake Travis area gathering information about the properties in the area. They will look for additions, and enhancements and add that to the property profiles.

2. That 65% of taxes are school taxes and that the schools will hold public meetings about tax rate. This is your time to voice concerns about the school taxes.

3. Over 65- you can pay your taxes each qtr with no interest charge. You can also postpone your taxes until the home sales, this has an 8% cost per year. The home may sell when you still own it or heirs. Either way all taxes will be paid from the proceeds of the home.

4. Deceased Disabled Veteran Property Tax with regards to their spouse. As it stands now the surviving spouse looses the property tax benefit when their spouse passes away. This has a huge impact on the surviving spouse. Imagine they are now only getting one social security check and their property taxes are going up and in some cases dramatically going up. There is a bill out currently that by late summer could resolve this issue. This will potential allow all surviving spouses to put the property tax they were paying when their spouse was living back into play. This will be a huge relieve to many I am certain.

5. All tax payers may have a future escrow payment plan where money is deposited each month into a non interest bearing account. This is very important for some people who are worried about having the money to pay the tax bill when it comes due.

6. I was reminded about the Single Family Residence grades and Construction Classifications. I will write more about this below.

Much of the conversation with the other attendees was surrounding the Disabled Veteran Property Tax and a discussion about how the value is determined of a property and a tax payer’s recourse to this issue.

Since I fought my taxes last year you can see in my past blogs how that process works, but briefly your recourse is 1. Speak with appraiser 2. Speak to panel. 3. Go to arbitration with a $250 fee 4. File a law suit.

A law passed in 2005 states that there is a 10% limit increase to the appraised value each year. The market value will be what the house would sell for in an open market. The lesser of the two is what will be used times your tax rate to determine what your tax bill will be.

While this discussion continued for a very long time, I was reminded of the Residence Grade and Construction Classifications that are used to determine the appraised value. To find what your class is for your home first go to http://www.traviscad.org/. Put in your address or name to pull up your property. Read down the detailed property report and go to the table that begins with Segment Information. Go to the column that has Class in it. Read down this column to determine how your home is classed. The next step is to have the information from the county which outlines the classifications. I have received that form and you can click here to get that form. If you find out your home has a class of 5, read more about what makes a home a 5 Classification. If when you read it does not describe your home, but say class 4 does, this would be a reason to meet with the appraiser and discuss why your home is not classified correctly. An incorrect classification in the downward direction could warrant getting your taxes lowered.

I am very passionate about helping seniors in the Austin area. If you or someone you know could use the expertise that I have, please contact me. Some of this information could greatly assist them and I would be happy to discuss what I learned.

Travis County Property Tax Meetings

2011-03-28T17:25:00.000-06:00

Travis County will be hosting a series of Town Hall meetings. This would be a great time to get information and have questions answered regarding property taxes. Chief Appraiser Patrick Brown and Tax Assessor and Collector Nelda Spears will be at the meeting. Below see the letter that was sent out with additional information.

Schedule-all locations meet from 6:30 to 8:00

Tuesday March 29th at Lakeway Activity Center (105 Cross Creek)
Tuesday April 5th at Laura Bush Community Library (9411 Bee Cave Road)
Thursday April 7th at Jonestown Community Library(18649 FM 1431, Suite 10A)

www.traviscountytax.org

(512) 854-9473

Nelda Wells Spears Main Office: 5501 Airport Blvd

Travis County Tax Assessor-Collector Austin, TX 78751-1410

& Voter Registrar

FOR IMMEDIATE RELEASE Contact: Tina Morton

March 22, 2011 (512) 854-9706

tina.morton@co.travis.tx.us

PROPERTY TAXES HAVE YOU FEELING

CONFUSED? WORRIED? NERVOUS?

You’re not alone!

Who? Patrick Brown, Travis County Chief Appraiser and

Nelda Wells Spears, Travis County Tax Assessor-Collector

What? Property Tax Town Hall Meetings

Why? Looking for answers to questions about your property taxes, home valuation or the appraisal protest process? Need to know more about the types of exemptions available to property owners?

Maybe you’re a new homeowner with questions about what to expect throughout the year. Or maybe you’re a long time resident with questions about exemptions for older or disabled homeowners. Presenters plan to discuss how the property valuation and protest process works, how to file for exemptions and deferrals and what important deadlines all property owners should know. Most importantly, they plan to answer any questions you may have for them!

These events are free and open to the public.

Original developer reclaims Spanish Oaks out of foreclosure

2011-03-11T09:00:00.002-06:00

What great news for the Lake Travis Area! Here is a quote from the article, and click below for more info!

"David Armbrust, Porter's attorney, said Thursday that the re-emergence of a significant project like Spanish Oaks is "a great signal our economy is turning around."

Original developer reclaims Spanish Oaks out of foreclosure

New Marina approved for Lakeway

2010-12-23T10:36:00.005-06:00

Watch this news story to learn more about the new Marina approved for Lakeway. What do you think?

Controversial marina still in the works: kxan.com

New ban on short-term leases in Rollingwood.

2010-10-12T09:19:00.002-05:00

Rollingwood, another town west of Austin, has a new ban on short-term leases.

Owners are angry about the city's vote to take away their right to rent their homes out for fewer than 30 days - citing constitutional rights to do what they wish with their property and also the need for extra income during the recession.

However, the city of Rollingwood, which is doggedly determined to remain its' own entity despite it's being nestled right next to Austin's Zilker park, sees the ban as a way to limit residents to home owners and more permanent residents as opposed to turning the village into a temporary resort town for those more interested in what Austin has to offer.

Could Lakeway be next? Visit my website for more information about home sales in Austin and the Lake Travis area.

Texas Foreclosures less than 50% of nat'l avg.

2010-10-04T09:27:00.003-05:00

According to Realty Trac forclosures were 11.9% of realty sales in Texas in the second quarter. Nation-wide foreclosures accounted for 24% of realty sales.

Visit the original article here or my website for more info about home sales in Texas.

Doing Good

2010-08-11T16:03:00.002-05:00

Some of our friends told us about an amazing charity that is providing lunches to children in the Lake Travis are whose parents work during the week and are unable to provide them with lunch.

"Summer Lunches" hosted by LT Lov and area churches asks volunteers to pack basic lunches (Sandwich, chips, dessert, fruit, drink, and snack) which costs about $150 to feed 100 children a day. The Lake Hills Church allows the group to use its' Mobile Loaves and Fishes truck to deliver the lunches during the day. The non-profit organization accepts monetary donations and volunteers to prepare and deliver the food.

It is always so great to hear about people doing good in our community. Keep up the good work!

To learn more about the Lake Travis area visit my website.

Whole Foods Coming to the Hill Country Galleria

2010-08-10T15:53:00.002-05:00

For those of us who have lived in the Lake Travis area long enough to remember when the intersection of RR 620 South and Hwy 71 West was vast, rolling hill country the explosion of growth in population and businesses has brought a great deal of exciting change to the place we call home. Because of the beauty, the quality of public education, and now the plethora of amenities, families have been moving to the Lake Travis area in droves!
The area is constantly adding new businesses and we are particularly excited about this one -
Whole Foods Market Inc., will be building a retail center near the Hill Country Galleria in 2012. The organic and natural food supermarket chain is based in Austin and is a rising star - listed by Forbes as "Best 100 Companies to Work For" for 13 consecutive years and adding several new stores in 2012.
For more information about the Lake Travis area visit my website.

Check it out!

2010-08-09T11:44:00.003-05:00

Check out our new website layout! After being in business for so long we are showing our loyal customers and the ones that will come in the future that we are not afraid of a little change. Our website is your first resource for free home and apartment searches and information about Cummings Realty Associates. Our new design reflects our company's commitment to traditional business values and our desire to find you the home of your dreams.

LT Grad Erickson plays record setting All-Star game

2010-08-04T10:08:00.003-05:00

Andy Erickson, a 2010 graduate of Lake Travis High School did the Lake proud at the Texas High School Coaches' Association football All-star game in San Antonio last week. In addition to leading the "South" team to victory, he made amazing plays,tying and breaking records,including scoring three touchdowns and having several incredible, long returns. Look out for Erickson in division I play at Rice in the upcoming season.

For more information about the Lake Travis area, visit my website.

REVISION to previous post

2010-08-03T16:53:00.001-05:00

The Hills will hold the public hearing on August 12th at 8:30 AM at the Hills Municipal office at 102 Trophy Drive, The Hills, 78738.

Village of the Hills to Hold public meeting

2010-08-02T11:49:00.005-05:00

The City of Lakeway is requesting to annex the Villas of the Hills from the Village of the Hills. The City of Lakeway is currently reviewing which unincorporated areas such as the Villas are benefiting from its services, such as waste disposal, but not paying taxes to the city. Alternately, Mayor DeOme of Lakeway proposed that The Hills annex the land and take responsibility for its services. A hearing will be held on Thursday, August 5th at 8:30 AM during the meeting of the Village of the Hills' aldermen meeting to allow residents to comment on the request.

For more information about the Lakeway area, please visit my website.

Thinking about moving to Austin?

2010-07-28T16:54:00.004-05:00

While the rest of the country is still feeling the affects of the recession Texas is leading the way (as it has been for months) out of the economic down-turn. According to this article and recently released statistics from the US Bureau of Labor Statistics, the top four metropolitan areas for jobs are ALL in Texas. Austin is number three! Not too shabby, considering Austin is only the fourth largest city in Texas and the 15th largest in the U.S.

We think Austin is a great place to live! If you would like more information about the Austin area visit my website.

Back to School!!!

2010-07-27T12:12:00.002-05:00

Visit our Lakeway Residents page to find out information about school supplies for Lake Travis ISD.

Lake Travis ISD Receives Highest TEA Rating

2010-07-22T10:24:00.002-05:00

Lake Travis ISD has received the Texas Education Agency's highest rating, "Exemplary." The ratings are based on standardized testing scores, retention rate, and drop out rate. The district received a zero percent drop out rate and a 98.5% retention rate. Ratings for individual schools for the 2009-2010 school are:

Lake Travis ISD – Exemplary
Lake Travis High School – Exemplary
Lake Travis Middle School – Exemplary
Hudson Bend Middle School – Recognized
Bee Cave Elementary School – Exemplary
Lake Travis Elementary School – Recognized
Lake Pointe Elementary School – Exemplary
Lakeway Elementary School – Exemplary
Serene Hills Elementary School – Exemplary

For more information about area schools visit my website.

LTHS receives Newsweek honor

2010-07-16T10:35:00.004-05:00

Lake Travis High School has been named to Newsweek's top 1000 schools in the country list. The list represents only 6% of the high schools in the U.S. and Lake Travis has been named to the list every year since 2006. The list is based on test scores, AP/IB courses offered, and other factors. Other area schools that made the list include Westlake, Westwood, and Bowie high schools.

For more information about area schools and real estate, please visit my website.

It's not too late!

2010-07-14T13:37:00.002-05:00

With the passing of the Fourth of July holiday, it is easy to feel like the summer is winding down, but at the Lakeway Activity Center, the fun is just beginning! Visit their website to check out the schedule of children's camps and classes for adults that are still enrolling!Summertime is the perfect time to try out a Zumba class, learn how to use watercolors, or any number of exciting new things offered at the activity center.

To learn more about the Lake Travis area visit my website.

New Services!

2010-07-13T11:09:00.002-05:00

We are pleased to announce that our website now has Apartment Locating Services page! The page features a FREE SEARCH tool and a description of our services.

Why use an apartment locator?
Best of all, it is COMPLETELY free to the client. Our licensed specialist is paid by the apartment community itself because the community RELIES on professionals like ourselves to help clients find the perfect home.

Check out our new tool, HERE!

Congrats, Cavs!

2010-07-12T12:31:00.003-05:00

The Lake Travis high school Cavalier football team, which has won the 4A state championship in 11 man play for three years running has now accomplished another amazing feat by becoming one of only a few teams to win championships in 7-on-7 and 11 man play. The Cavs won all 8 games in their two-day tournament, beating DeSoto in the last round 42-39. Michael Brewer threw six and Connor Floyd caught four touchdown passes in the final game.

For more information about the Lake Travis area visit my website.

Willie Nelson To Welcome New Neighbors

2010-07-09T11:43:00.003-05:00

While it is well known to Hill Country-ites that Willie Nelson owns a great expanse of land near Pace Bend Road in Briarcliff, until recently this reclusive icon has kept this paradise with seemingly endless Hill Country and lake views to himself.

Silverton Custom Homes has recently begun the first phase of a project, parceling out 60 acres of the 680 Nelson owns for unique home sites. The first phase features 41 lots which range from one to 2.6 acres each and begin around $150,000. The subdivision which is called Tierra Vista will be gated and designed to incorporate the Hill Country's natural beauty.

For more information about living in the Lake Travis area, visit my website.

Aquapalooza!!!

2010-07-07T11:12:00.002-05:00

This Saturday Brad Paisley will be playing a concert for boaters and sun-lovers on Lake Travis. 5,000 boats are expected to attend the concert and will string together their boats for the concert and inevitable party. The Lake Travis area is full of excitement as the lake community gears up for tens of thousands of people who are expected to attend the concert and take advantage of the connected events. Wristbands are available at participating locations and while the event is free, registration is recommended and remember, there is no land-access, your boat is your ticket!

For more information about the Lake Travis area visit my website.

Independence Day Events

2010-07-01T12:10:00.002-05:00

Lakeway:
July 3rd: 8:30 AM parade down Lakeway Drive, 10:30 Pageant at Activity Center, 7 PM live music at City park, fireworks start at 9:30. Shuttles available from Emmaus Catholic Church and Lakeway Elementary School.

Austin:
July 4th: HEB Austin Symphony fireworks celebration at Zilker Park. Performance at 8:30, fireworks at 9:30.

Hurricane Alex Causes Central Texas Flash Flood Watch

2010-06-30T11:08:00.002-05:00

The National Weather Service reported that a flash flood watch is in affect through Thursday night at 7 PM due to rain moving in from Hurricane Alex. One to two inches of rain are expected in Central Texas as Alex makes landfall in South Texas late Wednesday or early Thursday.
For more information about Lake Travis news and real estate listings, visit my website.

Source: Austin American Statesman

Search for Lake Travis Swimmer

2010-06-29T11:09:00.004-05:00

STAR Flight rescue swimmers were searching for a swimmer Saturday night who went into Lake Travis near Spicewood but never came up, according to Travis County sheriff's office spokesman Roger Wade.

The call about the incident near the 27000 block of Catamaran Drive in Travis County came in about 8:20 p.m., Wade said. The swimmer had been in the water about 20 minutes, he said.

Aside from sheriff's officials and STAR Flight, the Lower Colorado River Authority, Austin Police Department and other agencies responded to the scene.

Source: Austin American Statesman
For more information about Lake Travis news and information about real estate listings visit my website.

Celebrate summer at Pace Bend Park on Lake Travis -- Spicewood, TX

2010-06-27T10:12:00.003-05:00

I came upon this video today, how cool is this! A great video showing the beauty of the cliffs on Lake Travis near Austin Texas.

How can your home make you happier?

2010-05-07T15:04:00.003-05:00

Does your home seem dark or uninviting? Do you feel unwelcome in your own living room? Making improvements that make you happier will probably make prospective buyers happier in your home as well!

Click here for a story about how you can make improvements or here for more information about buying or selling in Lakeway.

2009-08-21T09:54:00.003-05:00

Trying to catch up on what is happening in the neighborhood, this article helps to explain the issues surrounding the Lakeway MUD and the Lakeway City Council.

View the article here or visit my website to learn more about real estate in Austin, Texas!

Lakeway MUD cites board member for defamatory remarks
Austin Business Journal

The board of directors of the Lakeway Municipal Utility District approved a resolution on Wednesday requesting that board member Kay Andrews refrain from making defamatory remarks about the district's general manager and abide by the rules that govern the district.
The board's resolution was in response to a nine-page complaint filed against Andrews on Aug. 7. In it, Andrews is accused of making slanderous comments and accusations about Lakeway MUD's General Manager Richard Eason. In recent months, Andrews has reportedly accused Eason of taking kickbacks from the district's auditor, using district funds to take vacations and other improper actions.
But board president Tom Rogers said those accusations were investigated and proven false.
Board members of the Lakeway MUD, which supplies water and wastewater to most of the residents of the city of Lakeway, are elected. Andrews has served on the board for six years and she still has 2 1/2 years left on her current term. Rogers said other than the resolution asking Andrews to abide by the rules, the board has no other recourse against her.
In a statement, Andrews said a majority block of the Lakeway MUD board has recently passed the board's duties and responsibilities policy in an effort to limit individual board members' oversight. She said she has a responsibility as an elected officially to uphold the duties of her office.
"The purpose of the policy is to prevent duly elected directors not in the majority block from carrying out even the most basic functions of directorship regarding virtually every level of oversight of the MUD," Andrews said in her statement. "The policy is unprecedented in MUD law and illegal on its face. The MUD board has no judicial authority and cannot make a finding of defamation. There is no authority or precedent for the board's purported power to make such a finding."
Andrews said the board's action is "in contravention to Texas law and the the adverse interest of the Lakeway Municipal Utility District ratepayers and taxpayers."
Andrews said she will "continue to carry out my constitutional duty to faithfully execute the Office as Director to the best of my abilities."
The resolution the board passed requests that Andrews:
• Follow the provision of the duties and responsibilities policy stating that board directors, other than the board president, will have direct communication and contact with suppliers, vendors, consultants and advisers only during board meetings, or as directed by the full board. The resolution requests that Andrews not communicate with the district’s suppliers, vendors, consultants and advisers except during board meetings.
• Follow the provisions of the policy stating that a board director’s contact with the staff should occur only during board meetings, and that contact with staff outside board meetings should be done only through the district’s general manager. The resolution requests that Andrews not contact staff outside board meetings except through the district’s general manager.
• Cease making allegations against and defaming Eason.

2nd Quarter Existing-Home Sales Rise in Most States, Helped by Affordable Metro Prices

2009-08-12T10:43:00.002-05:00

Washington, August 12, 2009

Existing-home sales in the second quarter showed healthy gains from the first quarter in the vast majority of states, and price declines have increased affordability in most metro areas, according to the latest survey by the National Association of Realtors®.

Total state existing-home sales, including single-family and condo, rose 3.8 percent to a seasonally adjusted annual rate¹ of 4.76 million units in the second quarter from 4.58 million units in the first quarter, but remain 2.9 percent below the 4.90 million-unit pace in the second quarter of 2008.

Thirty-nine states experienced sales increases from the first quarter, and nine states were higher than a year ago; the District of Columbia showed both quarterly and annual rises.

Lawrence Yun, NAR chief economist, said the sales gain appears to be sustainable. “With low interest rates, lower home prices and a first-time buyer tax credit, we’ve been seeing healthy increases in home sales, which are a hopeful sign for the economy,” he said. “There have been sustained sales gains in Arizona, Nevada and Florida, as well as diverse areas such as Maryland, the District of Columbia and Nebraska. More recently, we’ve seen strong double-digit gains in Idaho, Utah, New Mexico, Washington, Hawaii, New York, New Jersey, Maine, Vermont, Wisconsin, Indiana, South Dakota and Montana.”

...

Read the entire article here or visit my website for more information about home sales in the Austin, Texas area.

$8,000 First Time Home Buyer Tax Credit at a Glance

2009-08-06T10:54:00.004-05:00

· A first time home buyer is defined as someone who has not owned a principal residence during the three-year period prior to the purchase.

· The tax credit does not have to repaid.

· The tax credit is equal to 10% of the home’s purchase price up to a maximum of $8000

· Home must be purchased on or after January 1, 2009 and before December 1, 2009

· Single taxpayers with annual incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit

· An income tax refund will be issued for any amount above taxes owed for the 2009 tax year.

Here are today’s rates at a glance…

1% origination

0% origination

30 YR Conforming

5.000

30 YR Conforming

5.25

15 YR Conforming

4.375

15 YR Conforming

4.75

30 YR Fixed Jumbo

6.25

30 YR Fixed Jumbo

6.5

FHA 30 YR Fixed

4.875

FHA 30 YR Fixed

5.125

All rates are determined by multiple factors including loan amounts, property value,

occupancy, escrow waiver, and credit scores. Please call for program guidelines.

Please contact me for more information about the First Time Homebuyer tax credit, mortgage rates, and for all your real estate needs.

'Error' will delay property tax rates

2009-08-01T12:17:00.000-05:00

See my blog post for my personal experience on fighting my property taxes at TCAD.

***

More than 15 percent still protesting
rates

AUSTIN (KXAN) - Due to a "clerical error," more than 140 jurisdictions in Travis County will have some major headaches, and possibly some upset taxpayers, as they must now wait to set their true tax rates for next year for at least another month.

The City of Austin, Austin ISD, and other Travis County taxing authorities will have to wait when it comes to setting how much they will tax property owners.

"We incorrectly certified [the tax roll]," said Travis County Chief Appraiser Patrick Brown Thursday.

By law, an appraisal district must certify the values of the property listed on its tax roll with 90 percent of the property not under protest by July 20.

This year, a mistaken query falsely identified 90 percent of the property not under protest, Brown said.

In reality, about 15 percent of people are still protesting their property taxes, he said.

"Part of the problem due to the large number of protests this year," Brown said. "They're maybe figuring out that this is a way they can save some money."

More than 90,000 people protested their property taxes this year in Travis County, compared to 62,000 last year, said Brown.

Brown said the tax rolls should not change from the original estimates sent out in error.

The Austin City Council could vote on a maximum property tax rate as early as next week, but could not set a final tax rate until the roll is certified.

The 2010 budget is set on recommendations to raise property taxes by $69 per year for the median household, arriving as a way to shore up a nearly $30 million budget shortfall for 2009-2010.

In a memo to the mayor and city council members, Austin's Chief Financial Officer Leslie Browder said the city is working with the Law Department to determine if the delay will affect "truth-in-taxation" requirements required by law leading up to the adoption of a tax rate, and whether it will affect the city's budget schedule.

The police, fire, EMS, Municipal Court, health and human Services, library and parks and recreation departments will present their budgets to the city council at a meeting on Wednesday, Aug. 5 from 9 a.m. to 3 p.m.

The next day the city will hold a public hearing.

The Austin Energy, Economic Growth and Redevelopment Office, Austin Water Utility, Solid Waste Services, Watershed Protection, Public Works, Austin Transportation Department, Aviation, Convention Center, and Planning and Development Review departments will present their budgets on Wednesday, Aug. 19 from 9 a.m. to 3 p.m.

If needed, the city will again host a public hearing the next day and hold more budget presentations on Wednesday, Aug. 26 from 9 a.m. to 3 p.m.

The budget approval readings will take place from Sept. 14 to 16.

***

Read the original article here or visit my website for information and advice about owning, buying, or selling a home in Austin, Texas

Federal Reserve says housing market is improving

2009-07-31T10:01:00.002-05:00

While residential real estate remains weak overall, many local markets are showing signs of improvement, according to the Federal Reserve’s Commentary on Current Economic Conditions, also known as the Beige Book.

Sales volume is up, especially in the Fed’s Minneapolis and San Francisco districts, and with the exception of the St. Louis district, sales declines are letting up.

The Fed credited the federal government’s $8,000 first-time homebuyer tax credit for the improvement to the low-end of the residential housing market, especially in its New York, Kansas City and Dallas districts.

***

Read the rest of the article here or visit my website for information about buying or selling your home.

Healthiest Housing Markets in the Country

2009-07-30T09:57:00.003-05:00

With most economists and builders expecting a national market decline this year, this may not seem like the best time to be selecting the "healthiest" markets in the country. Virtually every market was down last year. But a close look at the numbers reveals that some markets have way outperformed others during the last four years and are likely to continue to do so this year.

When the housing market stages its official recovery, the markets listed on the following pages are likely to lead the parade. It may take a year or more for the weakest markets--where burgeoning foreclosure sales are still pounding new home values, making building and selling new homes an exercise in futility-- to finally stage a turnaround. We’ll present that list next week.

The healthiest markets have many things in common. Most of them are great places to live, either close to the ocean, mountains, or major universities. Most of them didn’t have a huge run-up in prices during the boom and aren’t experiencing rampant deflation during the bust.

***

Texas claims the top Five with Austin edged out only by Houston. Read the full article here or learn more about Real Estate in Austin, Texas on my website.

Neighborhood Profile: Steiner Ranch

2009-07-29T10:44:00.002-05:00

For homeowners in Steiner Ranch, living is a SNAP

Saturday, July 25, 2009

Steiner Ranch has long been known as a successful neighborhood, but many home buyers do not know the extent of what the area offers and what makes it distinctive.

When you think of the best features of Steiner Ranch, just remember that living in Steiner Ranch is a SNAP — Schools, Nature, Amenities and Price.

Schools

Steiner Ranch is the crown jewel of the Leander Independent School District.

Three exemplary-rated schools — Steiner Ranch Elementary, Laura Welch Bush Elementary and Canyon Ridge Middle School — are located in the community and have built a reputation of academic excellence.

This August, two more schools will serve the Steiner Ranch students. Vandegrift High School will open just outside the community, and River Ridge Elementary will become the third on-site elementary school.

"I would put the education my kids are getting here in Steiner Ranch next to anybody's," said Keith Sommer whose kids attend Laura Bush Elementary. "The parental involvement here is outstanding and the teachers really care."

Nature

With both Lake Travis and Lake Austin surrounding the community, Steiner Ranch offers natural beauty like no other place in Austin. Flanked by the Balcones Canyonlands Preserve, the landscape has a wide-open feeling while still being close to conveniences like shopping and restaurants. Downtown is a short 25-minute drive as well.

"After researching countless neighborhoods in the Austin area and talking to friends, we found ourselves in Steiner Ranch," said Stacy Wilson, a resident for five years. "Our first impression was 'Wow, this is it. What a beautiful area!' We drove in and saw the lake views and rolling hills, and we knew that this was a place we could raise our family."

Amenities

As members of the homeowners association, Steiner Ranch residents enjoy a comprehensive amenity package that includes three community centers — each with pools, tennis and basketball courts.

Sports teams have access to multi-purpose fields where more than 150 teams practice each week. Twenty miles of trails wind through the greenbelt areas allowing endless opportunities to enjoy the outdoors.

"The miles of beautiful trails here are accessible from every neighborhood, which was a huge selling point for us. We had no idea the trails would look so natural — like a path through the woods. We frequently find ourselves exploring with our dogs, who couldn't be happier," said Wilson.

Price

With homes from the upper $200s to more than $3 million, Steiner Ranch offers something for almost every lifestyle and price range.

As compared with other areas of Austin, Steiner Ranch is a tremendous value for the money as well. Whether your dream home is a Mediterranean-style golf course home, a 2,500-square-foot single story or an 8,000-square-foot custom home on the lake, you can build it in Steiner Ranch.

"People are so amazed at how much further their money goes in Steiner Ranch compared with other areas of town," said Kathy Mayer, community sales manager. "Buyers can still get a new home with every imaginable upgrade and stay within budget. Instead of remodeling, it makes it that much more tempting to buy new."

Now is an especially good time to be looking at Steiner Ranch. There are currently homes in every price range available for move-in before school starts.

***

Read the original post here or learn more about this beautiful community and others on my website.

Austin named one of America's fittest cities.

2009-07-28T09:41:00.008-05:00

A new report looks at 30 different measures to determine which cities' residents are healthiest.

When it comes to healthy living, Washington, D.C., is seldom mentioned in the same breath as cities like San Francisco, Portland, Ore., and Seattle, all of which are known for their active, health-conscious residents.

But according to a new report, the city of pomp and politics is the healthiest in the nation. In the second annual American Fitness Index (AFI), a publication released by the American College of Sports Medicine, Washington, D.C., edged out Minneapolis-St. Paul, Minn., Denver, Boston and San Francisco.

Walter Thompson, a professor in the department of kinesiology and health at Georgia State University and chair of the AFI's advisory board, says the annual project is designed to give communities a data-driven picture of local health--and nudge residents in the right direction.

"I believe significant success in improving the fitness of the community can occur when the residents truly value healthy behaviors," says Thompson.

Behind the Numbers
The AFI is sponsored by the WellPoint Foundation, the nonprofit arm of the health benefits company WellPoint. The index ranks 45 metropolitan statistical areas (MSAs)--a geographical measurement defined by the U.S. Census Bureau used by federal agencies in collecting, tabulating and publishing federal statistics--that include the city and surrounding suburban area. It measures each city's performance on 30 indicators, including acres of parkland, death rate from cardiovascular disease, the number of primary care physicians per capita and the percent of residents who bicycle or walk to work. The metrics were gathered from government and non-profit organizations. (For the complete methodology, visit www.americanfitnessindex.org.)

Read the entire article here or visit my website for more information about living in or moving to Austin, Texas.

Fed moves to curb housing abuses

2009-07-27T12:55:00.003-05:00

The U.S. central bank recommends new rules to limit compensation for mortgage brokers and clarify risks for borrowers.

July 23, 2009: 11:36 AM ET

WASHINGTON (Reuters) -- The Federal Reserve Board Thursday recommended new disclosure rules for homeowners and compensation guidelines for mortgage brokers to correct some abuses of the recent runaway housing market.

Prospective borrowers would receive a one-page notice of key questions about their loan and see a graph comparing their interest rate to that of a low-risk borrower, the Fed said.

Mortgage brokers would not receive greater compensation if they put a borrower into a high-cost loan, under the rules.

"Consumers need the proper tools to determine whether a particular mortgage loans is appropriate for their circumstances," Fed Chairman Ben Bernanke said during an open meeting of the board.

View the original article here or visit my website for more news about the Texas real estate market.

Austin, Texas -- One of the best cities for the outdoors

2009-07-24T12:01:00.002-05:00

Best Cities For The Outdoors

From Forbes.com

San Franciscans are known to brag about their exceptional quality of life--especially when it comes to the outdoors. As it turns out, they're not exaggerating.

The bayside city enjoys sunshine for two-thirds of the year, and the balmy summers turn to mild winters. But it's not just pleasant weather that makes San Francisco so ideal for its active residents. The city has set aside 18% of its land for parks and spent $268 per resident on parks-related projects in the fiscal year 2007.

Those reasons combined are why San Francisco ranks as the best city for the outdoors for the second consecutive year. In general, Californians are a lucky bunch: San Diego, San Jose and Sacramento all ranked in the top 10, while Los Angeles tied for 11th with Austin, Texas.

Cities that topped the list offer residents a mix of outdoor activities, including community gardening, access to urban forests and miles of hiking trails. Though few of the measures change drastically from year to year, the recession may have a long-term impact on these rankings since many cities have been forced to cut back their parks budgets significantly. Both Phoenix, which fell from fifth place last year to eighth place this year, and Philadelphia (which remained 29th), have eliminated positions or services. Even San Francisco has made similar tough choices.

Behind the Numbers
To determine which of the 40 largest cities are best for the outdoors, Forbes used research from the nonprofit organization Trust for Public Land, the National Oceanic and Atmospheric Administration (NOAA) and the Environmental Protection Agency (EPA). The Trust for Public Land provided data on spending and park land, which it collected from city municipalities.

Data on the weather were collected from historic averages maintained by NOAA. Forbes looked at air quality in each city's county seat between 2000 and 2007 and averaged the number of unhealthy days during that time. Some cities have different averages than last year since the threshold for ozone pollution was lowered in 2008. Click here for the complete methodology.

The aforementioned top cities--which are joined by Virginia Beach, Va., Jacksonville, Fla., and Seattle Wash.--performed well in the categories measured: parks spending, percentage of park land, recreation facilities, air quality, sunshine, snowfall, precipitation and temperature extremes.

While San Francisco took the top spot for the second straight year, Detroit, Mich., fell to the bottom of the list once again. Among the 40 cities ranked, Columbus, Ohio, (No. 39), Milwaukee (No. 37) and Indianapolis (No. 38) also performed as poorly as last year.

Park Perks
San Francisco may be well known for the Golden Gate National Recreation Area--its 75,500-acre crown jewel--but the city doesn't rely solely on that flagship park to meet the needs of its outdoorsy residents. It maintains more than 230 parks, in addition to hundreds of athletic facilities, including tennis courts, baseball diamonds, golf courses and swimming pools. Residents also have access to more than 40 community gardens.

The Tampa, Fla., parks department refers to the city's 7.8 million trees as an urban forest. Just northeast of the city, residents can escape to the 16,000-acre Wilderness Park and explore 60 miles of trails through wetlands. The city, which ranked fifth this year, also operates standard recreation facilities and provides river access for canoing and other water sports.

In Phoenix, the scorching heat doesn't stop residents from enjoying the outdoors. There are six public golf courses, four skateboard parks and even a "horse lover's" park for equestrians. Several hiking, biking and riding trails pass through desert preserves. New voter-approved funding for expansion of these parks is one of the only bright spots in a bleak forecast for Phoenix's budget.

David Urbinato, a spokesman for the parks department, says the city has slashed $24.5 million from the 2009-2010 parks budget in response to dramatically reduced construction and sales taxes. That reduction is in addition to a 12.2% cut during the prior fiscal year. Urbinato says such cuts will translate into less routine maintenance; while a broken sprinkler, for example, might have taken less than 24 hours to fix, it will now take two days.

Money Matters
San Francisco, despite topping the list, isn't immune to tough times either. The city's parks department had to cut $8.8 million from its budget to adjust for declining tax revenue. Among its cost-cutting measures are plans to eliminate several management and administrative positions.

Catherine Nagel, executive director of the City Parks Alliance, a nonprofit organization that counts parks administrators among its members, says that the stimulus package did not include funding for urban parks. Nagel called the omission "short-sighted", referring to research--some of it conducted by the Trust for Public Land--demonstrating that urban parks can contribute significant economic value in the form of jobs, tourism and increased property values.

In Philadelphia, officials expect to maintain the parks department's core services despite slashing at least $7 million from the fiscal year 2010 budget. Residents are likely to notice a difference, however.

Susan Slawson, the city's recreation commissioner, says the city will reduce seasonal staff and eliminate vacant positions. The biggest loss, she says, is the closing of 27 of the city's 73 pools.

"Our goal is to do the best we can," she says, "even though we're facing some very difficult times."

In the meantime, city dwellers might want to take advantage of the outdoors while local governments can still afford to foot the bill.

For more information about moving to Austin, Texas, visit my website.

Nation's Home Sales Seeing Increase

2009-07-23T14:09:00.002-05:00

Existing-Home Sales Up Again

Washington, July 23, 2009

Existing-home sales rose for the third consecutive month with inventory easing and home prices declining less sharply in June, according to the National Association of Realtors®.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 3.6 percent to a seasonally adjusted annual rate¹ of 4.89 million units in June from a downwardly revised pace of 4.72 million in May, but are 0.2 percent lower than the 4.90 million-unit level in June 2008.

Lawrence Yun, NAR chief economist, is hopeful about the gain. “The increase in existing-home sales occurred in all major regions of the country,” he said. “We expect a gradual uptrend in sales to continue due to tax credit incentives and historically high affordability conditions. Despite the rise in closed transactions, many Realtors® are reporting lost sales as a result of new appraisal standards that went into effect May 1 of this year.”

A June survey of NAR members shows 37 percent experienced at least one lost sale as a result of the new Home Valuation Code of Conduct, with seven out of 10 reporting an increased use of out-of-area appraisers. Seventy percent of NAR appraiser members said consumers were paying higher fees, while 85 percent report a perceived reduction in appraisal quality.

“Clearly the process needs to be revised, but the most logical approach is to use appraisers with local expertise, industry designations and access to local data, who make a physical examination of the property and use apples-to-apples comparisons with nearby home sales,” Yun said. “In many cases, normal homes are being compared with distressed homes sold at a discount, which often are in subpar condition – this is causing real harm to both buyers and sellers.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 5.42 percent in June from 4.86 percent in May; the rate was 6.32 percent in June 2008. Mortgage interest rates have trended lower in recent weeks.

Total housing inventory at the end of June fell 0.7 percent to 3.82 million existing homes available for sale, which represents a 9.4-month supply² at the current sales pace, down from a 9.8-month supply in May. Raw inventory totals are 14.9 percent below a year ago.

“This is another hopeful sign – if we can keep the volume of sales above the level of new inventory, prices could stabilize in many areas around the end of the year,” Yun said.

An NAR practitioner survey in June showed first-time buyers accounted for 29 percent of transactions, unchanged from May, and that the number of buyers looking at homes is up nearly 12 percentage points from June 2008.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said there are very good opportunities. “Despite some of the challenges, the housing market continues to demonstrate signs of recovery,” he said. “The temporary first-time buyer tax credit is clearly helping people make a decision and is contributing to the overall stimulus impact, but since it’s taking longer to close transactions, many would-be beneficiaries may not be able to take advantage of the credit before the December 1 expiration date. As a consequence, consumers need the expertise of Realtors® more than ever to navigate both the obstacles and opportunities in today’s market.”

The national median existing-home price³ for all housing types was $181,800 in June, which is 15.4 percent below June 2008. Distressed properties, which accounted for 31 percent of sales in June, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

Single-family home sales rose 2.4 percent to a seasonally adjusted annual rate of 4.32 million in June from a level of 4.22 million in May, and are 0.2 percent higher than the 4.31 million-unit pace a year ago. The median existing single-family home price was $181,600 in June, which is 15.0 percent below June 2008.

Existing condominium and co-op sales jumped 14.0 percent to a seasonally adjusted annual rate of 570,000 units in June from 500,000 in May, but are 3.1 percent below the 588,000-unit level in June 2008. The median existing condo price⁴ was $183,300 in June, down 18.9 percent from a year ago.

Regionally, existing-home sales in the Northeast rose 2.5 percent to an annual pace of 820,000 in June, but are 4.7 percent below a year ago. The median price in the Northeast was $249,400, down 5.9 percent from June 2008.

Existing-home sales in the Midwest increased 0.9 percent in June to a level of 1.10 million but are 1.8 percent lower than June 2008. The median price in the Midwest was $157,000, which is 9.1 percent below a year ago.

In the South, existing-home sales rose 4.0 percent to an annual pace of 1.81 million in June but are 3.7 percent below a year ago. The median price in the South was $163,200, down 11.9 percent from June 2008.

Existing-home sales in the West improved by 6.4 percent to an annual rate of 1.16 million in June, and are 11.5 percent higher than June 2008. The median price in the West was $214,800, which is 24.9 percent below a year ago.

# # #

View the original article here. For more information about buying or selling your home, or advice about the real estate market, visit my website.

Which cities will and won’t recover fastest -- Austin at the top, AGAIN!

2009-07-22T13:42:00.006-05:00

WASHINGTON - The three most important things in real estate: location, location, location.

It's true for recovery from a real estate bubble too. Overall, many economists expect the national economy to return to growth later in 2009, perhaps as soon as this summer. But that won't be the case everywhere. While some cities are poised for a quick rebound, others face a slog to recovery that could take years.

Poised for swift recovery are many Texas cities, such as Austin, San Antonio, Dallas and McAllen. These areas did not see the massive real estate bubble that formed in states like California, Nevada and Florida. The economy is diverse, with heavy growth coming from education and health care in recent years.

Many of the cities with the longest road to recovery are California cities, where home prices rocketed out of control, and entire economies were supported largely by a real estate bubble. Fresno, Modesto, Salinas, Bakersfield, Stockton and Los Angeles all saw home prices soar to unsustainable levels and then begin their inevitable plunge. The collapse of the housing markets pushed unemployment rates in these cities above 10 percent.

Even as a flood of foreclosures makes home prices look affordable again, a sign that some of the worst real estate markets may be finding their bottom, it will still take years for unemployment rates as high as 16.8 percent in Modesto or 15.5 percent in Fresno to return to healthy levels.

To find the 10 cities that look best poised for recovery (and the 10 cities likely looking at the longest climb back), we examined estimates from data provider Moody's Economy.com of the projected gross domestic product of metropolitan areas across the U.S., as well as unemployment figures from the Bureau of Labor Statistics and home prices, incomes and affordability data from the National Association of Home Builders. Because, in general, healthy cities were not victims of as severe a housing collapse, home prices were not used in ranking the cities poised for recovery.

The analysis also shows the importance of a city's economic make-up. Manufacturing has been battered by the recession, leaving cities like Detroit and Flint, Mich., or Youngstown, Ohio, with bad unemployment and a changing economy that's unlikely to replace the lost jobs. Moody's projects the economy in Flint, for example, will decrease by 16 percent from the start of recession to the end of 2010. (One commonly cited rule of thumb for depression is a decline of 10 percent.) Flint might never return to its original size.

New York City, too, once the capital of finance, is now saddled with Wall Street-induced unemployment and homes that are completely unaffordable for most of the region's residents. The NAHB's Housing Opportunity Index reports that only 14 percent of homes in the New York-White Plains-Wayne area are affordable on the area's median income — by far the least affordable region measured by NAHB.

Cities with robust technology sectors are poised for stronger recoveries than manufacturing or finance centers. Cities with high-tech capabilities like Seattle, Huntsville, Ala., or Boulder, Colo., could see quick recovery in coming months.

Austin home sales hit highest level in a year

2009-07-21T10:19:00.000-05:00

By Claudia Grisales
AMERICAN-STATESMAN STAFF
Tuesday, July 21, 2009

Austin-area sales of existing homes hit the highest level in a year last month, according to figures Monday from the Austin Board of Realtors.

Last month, 2,135 single-family homes were sold in the area, down 4 percent from a year earlier. That was the smallest decline since a 2 percent drop in July 2007, when the market began to soften amid an emerging national mortgage crisis.

This year, sales were down 19 percent in May and 18 percent in April from a year earlier.

Pending sales — those in the pipeline to close in July — were up 4 percent, to 2,084.

"We've seen the year-over-year gap in sales volume close steadily throughout 2009, and that momentum continues this month," said Jay Gohil, chairman of the Board of Realtors.

Jim Gaines, research economist for the Real Estate Center at Texas A&M, said there's not yet a clear signal that the Austin market has hit bottom.

"That's the $64 million question," he said.

He said Texas is seeing more signs that the recession has landed with full force, such as a weakening job market — including in Central Texas — and falling sales tax revenue.

But there is growing evidence nationwide that the housing market is starting to stabilize. Combined, sales of new and existing homes hit an annual rate of 5.1 million in May, the highest level this year.

In Central Texas, the market is benefiting from low mortgage rates and a healthy supply of homes for sale. Another strong incentive: an $8,000 federal tax credit for first-time buyers who close on a home before Dec. 1.

But the market faces a long climb back. Home sales last month were down 23 percent from June 2007.

Mark Sprague, Austin partner for Residential Strategies Inc., which tracks the housing market, said the Austin market appears to be improving.

As fewer developers build homes and the number of available lots continues to shrink, it will mean more demand for existing homes, he said.

"Resales are a little better," Sprague said. "I'm cautiously optimistic."

Sprague reiterated that the Austin market has not slumped as deeply as the national market. The median home price in Austin last month was $199,900, unchanged from a year ago. Nationwide in May, the latest data available, prices were down 15 percent from a year earlier.

Mortgage broker Ashley Hall said June was a busy month for her firm, with a large percentage of homebuyers looking to move to Austin from destinations such as California and Arizona.

"We have seen a great deal of activity," said Hall, president of Barton Hills Mortgage.

Hall said her firm saw purchases increase about 15 percent in June. Of those, 60 percent were buyers moving from other cities or states, and 40 percent were previous customers moving to bigger or better homes. The average purchase price was in the $450,000-to-$500,000 range, with a few sales over $1 million.

Tom Polk, a broker associate with Stanberry & Associates, said June's figures finally reflect what he's been seeing in his own business.

Polk said he's also received interest from prospective homeowners looking to move to Austin as well as investors.

"It's about time," he said. "There is a distinct change in activity and attitude out on the street."

****

Read the original post here or learn more about Austin, Hill Country, and Lakeway home sales on my website.

How To Fight Your Property Taxes! I did it and so can you...

2009-07-20T14:34:00.000-05:00

My husband and I own a lovely home in the city of Lakeway, Texas. Every April I pay an enormous amount of money in property taxes. This year I decided to fight my taxes because I had noticed some discrepancies in my charges and finally decided that this was the year to do it. This is my experience.

I arrived 15 minutes early and entered the Appraisal District building on the opposite side of Austin from where I live. I walked up the stairs to check in by the sign that says “check in here”. I asked the receptionist if my hearing will be on time and I she giggled as she listened to a question that I am sure she hears a hundred times a day, which implies the answer, “No.” As I am sitting in one of the plastic chairs in a hall I feel like I am waiting to go into the principal’s office-and wonder why I did not prepare more.

There are 9 rooms where the appraisal review board panels convene. Some rooms are as big as a doctor’s exam room and others are twice the size. I watch a cute couple, probably 90 years old, go into a room. I wonder again if I could have prepared more. I hear laughing from the room and think, “OK, maybe laughter will help me.”

There is a break room on the floor where you can pay for a soda or water or even a snack. Note to self: bring enough provisions for 2 hours next time, do not skip lunch to be early. More laughter, “OK, maybe I CAN do this.”

A police office walks down the hall – opens a door and asks if the panel members are OK, then I think maybe the panel has a button that they can push if they feel they are in trouble. I take out my soothing lavender stick and rub it on my wrists…calming down.

A man is walking down the hall asking people how they prepared and the man next to me said he didn’t. His house is on the market for less than the assessed value so he thinks it’s a slam dunk. I think, and I hope, too, as I am in the same situation.

Another man walks up the stairs, sees more than 20 people in the hall and says “Oh Man”-I think “I’ve been here 40 minutes already.”

The happy couple comes out; they are playing the name game as they leave. I wonder-should you dress up or down in this situation. I see men in suits and men in shorts. Women are definitely the minority. Will the panel now talk about the couple’s property or do they make that determination while all together in the room? They leave the door open, and I doubt they will talk about it, so on to the next tax payer. I hope it’s me…nope, but this woman looks well organized. Another panel calls a name from down the hall “Ok,” I think, “Maybe we are in the groove, the lunch break paid off.” Oh shoot, now I get a hot flash; go buy another pop from the lunch room.

Soon my mind is floating with thoughts such as “Should I tell them I a realtor? Would that make a difference? Would he help or hurt?” Zap! Back to reality, my name is called. As I enter I am instructed to sit in front a computer monitor. The panel is to my left and the appraiser is to my right. They introduce themselves and I am sworn in. I begin my testimony with a presentation of my listing agreement, CMA, my MLS sheet and sold data. I had made 4 copies and handed it out to all. My tax assessed value was $50,000 more than what I have it on the market for. Also it has not yet sold at that price and I discuss the reasons why it probably will not sell for this price because of upgrades that need to be made to compete in the market. The panel and appraiser flipped though the paper and looked at photos I provided. They asked if I am finished presenting and let me know I will have a chance to comment after the appraiser comments. I mentioned that I am a Realtor and it seems it did not matter.

The appraiser brought up a default grid of properties that have sold that closely match my property. The grid looks much like the appraiser’s grid of comparable properties when you buy a house. The base price is shown and then adjustments are made for differences in the properties. He states that my data is not accurate because the sold data needs to be for the time period of 1/1/08 to 2/2/09 as this is the time that my home was assessed in. “It have been nice to have known that in advance,” I think… “I don’t think that was in the packet of information I received.” Then up pops homes that I have not researched so I am fumbling around now. I ask where the grid takes into account the extras, like pool, golf course, etc. I see that line and move across the grid to see what types of adjustments were made. The data does show about a $40,000 price decrease, close to what I have it on the market for, so I am feeling a bit better.

Next the appraiser brought up an equity grid. This is not based on sales, but shows your property’s taxes compared to the properties’ taxes near you. Then I noticed on the form that the line that shows the price for mine and my neighbors’ lots had a discrepancy. While our lot size was similar the price for my lot was much higher. The panel soon discovers that our home has been assessed based on a lake view scale which we do not have. I got $25,000 taken off the value there. Yippee!

I also note that the square footage has not been adjusted and last year we sent an appraisal report that showed that we had less sq footage than what the tax man had assessed. The home had been added onto and the square footage that the permits said was simply not accurate. It sounded from the conversation amongst the panel that normally any amount under 10% would not change in the tax records, but upon further review of the correspondence among the district and I it was stated it would be changed. So my square footage was adjusted and in total my assessed value was reduced $106,024! From my calculations I will be saving $200 a month! I am pretty happy at this point. I said my good byes and will be looking for my letter in the mail stating what transpired in our meeting.

In conclusion, here is my advice if you are ever in this situation: bring provisions and a book and plan to stay for at least 2 hours. Your goal is to provide evidence of market value so consider researching and bringing all of the items on the list that they suggest in the packet they will send ahead of time. The biggest thing to remember is to bring comparative research for the time period of 1/1/08 to 2/2/09 (if you are going in this year) and to check the data for your property to see if there are any quick fixes like incorrect square footage or land adjustments that are incorrect.

For more information about real estate in Texas visit my website.

Maintaining Vacant Property Can Be Expensive

2009-07-17T22:43:00.000-05:00

Anyone who turns down an offer to sell a house should consider how much it will cost to maintain the home while waiting for the next opportunity to sell.Here’s just one example of a home seller who has felt the pain of a delayed sale. Ed Tuttle, who has been trying to sell his unoccupied brick rancher in Oklahoma City for nearly two years, spends an average of $500 a month for utilities and maintenance along with the $1,600 mortgage payment. He also has repaired a hole in the roof caused by squirrels, hired an exterminator to trap the squirrels who had moved into the attic, and replaced portions of a fence that blew down."It's an absolute nightmare maintaining it," says Tuttle, who has moved to Rockville, Md., for a job. "It's absolutely the most frustrating and demoralizing thing in the world."Source: The Associated Press (07/12/2009)
For more information about the Real Estate Market in Austin visit my website.

Foreclosure listings fall to 5-month low in Central Texas

2009-07-17T13:30:00.002-05:00

Postings remain higher than in '08, but drop is welcome, analysts say.

AMERICAN-STATESMAN STAFF
Friday, July 17, 2009

Residential foreclosures for the Aug. 4 auction are at a five-month low in Central Texas, reflecting a trend in other parts of Texas, according to data from Foreclosure Listing Service Inc.

On Thursday, experts cautioned against reading too much into a single month's data, but they said the drop was a welcome break after a steady upward march this year.

"The tide may have changed," said George Roddy Sr., president of Foreclosure Listing Service, who said the figures offer hope that foreclosures postings may have reached a peak.

In Travis, Williamson, Hays and Bastrop counties, 1,072 properties were posted for the August auction, down 27 percent from 1,464 in July.

Postings still were 45 percent higher than they were a year ago. But that is the second-smallest year-over-year percentage increase this year, after a 24 percent jump in February.

In the Dallas area, foreclosures fell below 5,000 for the first time since March, according to Foreclosure Listing Service.

In Bexar County, postings also were at their lowest level since March, according to Real Estate Foreclosures Inc. in San Antonio.

"This looks like a breather or a relative lull in foreclosures that could go on several months," said Greg Stanley, president of Real Estate Foreclosures. "These posting totals are still at a very high level, and talk of being out of the woods is silly, but this is still a nice respite."

View the original article here.

For more information about the Austin, Texas real estate market visit my website.

2009-07-16T10:09:00.000-05:00

REALTORS® SAY HOUSING INCENTIVES HELP ECONOMY, SMALL BUSINESSES

Washington, July 15, 2009

Having a sound and well-functioning real estate sector is critical to our country’s economic growth and development, as well as the growth and sustainability of many small businesses, according to the National Association of Realtors®.

In testimony on Capitol Hill before the House Committee on Small Business, NAR President Charles McMillan noted that the real estate industry supports millions of jobs and services. “By enacting provisions that stabilize America’s real estate markets, you are helping small businesses and America’s communities thrive and prosper,” said McMillan, a Realtor® and broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth.

NAR shared its belief that the 2009 stimulus legislation has proven helpful to small business owners - which includes many Realtors® - most notably by beginning to stabilize the housing market and stimulate the economy. “Along with other tax bills passed in 2007 and 2008, the 2009 stimulus legislation included a number of provisions that are helping the nation recover,” McMillan said.

The focus of NAR’s testimony was on three provisions that are having a positive impact on the real estate industry - the first-time homebuyer tax credit, the elimination of the mortgage cancellation tax, and the SBA loan programs.

The 2009 stimulus increased the amount of the homebuyer tax credit to $8,000 and eliminated the repayment feature of the credit. It also extended the program up to December 1, 2009. “It appears the tax credit is now being embraced based on the number of inquiries we and our members are receiving and the increased activity in the first-time homebuyer market,” said McMillan.

NAR has asked Congress to take steps to ensure the tax credit continues to stimulate the housing market and help families achieve the dream of homeownership. “We hope Congress will extend the tax credit through next year and make the credit available to all purchasers of primary residences,” McMillan said. “Additionally, to be fair, we’d like the repayment requirement from the 2008 stimulus bill to be eliminated so families are not penalized for buying their home just a few months before the new legislation went into effect.”

The second provision is the Mortgage Cancellation Relief Act passed by Congress in 2007. The tax relief has been extended through 2012, but NAR would like to see this become permanent. “It just doesn’t seem right to further penalize a family that has acted responsibly and has lost their home or been forced into a short sale because of market conditions. Eliminating the tax on the excused debt will help many families begin to recover more quickly and maybe will allow them to once again own a home,” McMillan said.

Lastly, NAR addressed the Small Business Administration loan program that provides fee waivers for some of its SBA programs and new loan programs and raised guarantees. “We applaud these efforts,” McMillan said. “However, the SBA often deems independent contractors, which most Realtors® are, ineligible for its programs and its standards are not always evenly applied across regions.” Realtors® and other independent contractors are often denied access to SBA programs. NAR asked Congress for assistance in making these loans available to more small businesses helping them to grow and prosper.

“NAR thanks you for all of your efforts to date. We stand ready to work with Congress and the Obama administration in any way possible to find further solutions to stabilize the real estate market and restore a strong marketplace and economy,” said McMillan.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.

View the original article here.

For more information about the Real Estate Market visit my website.

100% financing for home purchases available through USDA Rural Development - Moberly, MO - Moberly Monitor-Index

2009-07-15T10:05:00.001-05:00

100% financing for home purchases available through USDA Rural Development - Moberly, MO - Moberly Monitor-Index

For more information about which Austin areas qualify, contact Cyndi.

Appraisal Institute Applauds Freddie Mac's Revised Guidelines

2009-07-14T10:40:00.000-05:00

In another step towards government regulation of the Real Estate Industry, legislation is in the works to protect the consumer and ensure quality appraisals.
Appraisal Institute Applauds Freddie Mac's Revised Guidelines

For more information about the Real Estate Market, visit my website.

Pending Home Sales Record Fourth Straight Monthly Gain

2009-07-13T10:22:00.000-05:00

Washington, July 01, 2009

Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the National Association of Realtors®.

The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in May, increased 0.1 percent to 90.7 from an upwardly revised reading of 90.6 in April, and is 6.7 percent higher than May 2008 when it was 85.0. The last time there were four consecutive monthly gains was in October 2004.

Lawrence Yun, NAR chief economist, cautions that there could be delays in the number of contracts that go to closing. “Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions,” he said. “Rises in contract activity show buyers are becoming more active even as they face much more stringent loan underwriting standards. Speedy clarification of the appraisal rules could smooth a housing market recovery and support the overall economy.”

The Pending Home Sales Index in the Northeast rose 3.1 percent to 80.9 in May and is 6.8 percent above a year ago. In the Midwest the index slipped 1.3 percent to 89.2 but is 11.4 percent above May 2008. The index in the South declined 1.7 percent to 92.6 in May but is 7.9 percent higher than a year ago. In the West the index rose 2.2 percent to 96.9 and is 0.7 percent above May 2008.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said the appraisal issue is complicated. “We see that distressed homes often are selling for 20 percent less than normal homes in the same area, but some appraisals don’t distinguish between traditional homes and distressed property,” he said. “In many cases appraisers from outside the area are being used, but as everyone knows real estate is local and appraisals should be done by an expert with local expertise.”

McMillan said sellers shouldn’t hesitate to speak with an appraiser about their home. “Sellers should feel free to tell an appraiser about improvements and renovations to their home, and how it compares with other homes in the neighborhood,” he said.

“Also, if recent sales in the neighborhood were discounted, but not similar to your home in terms of quality or condition, that should be pointed out. It wouldn’t hurt to put all this in writing, especially if an appraiser is not familiar with your area. A Realtor® could offer guidance and information to help you with this process.”

NAR’s Housing Affordability Index² remains at historic highs. The affordability index fell to 171.6 in May from an upwardly revised 178.8 in April, which was the highest on record dating back to 1970. “Under these conditions the typical family would devote only 14.6 percent of gross income to mortgage principal and interest, which is one of the lowest percentages on record,” Yun said.

The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.

A median-income family, earning $60,800, could afford a home costing $296,700 in May with a 20 percent down payment, assuming 25 percent of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small down payments are roughly 80 percent of what a median-income family can afford. The affordable price was significantly higher than the median existing single-family home price in May, which was $172,900.

The first-time buyer tax credit also is benefiting the market. “Strong activity by entry level buyers is helping to absorb inventory and allow some existing owners to make a trade,” Yun said.

Existing-home sales should trend up through the end of the year, with normal local market differences. “The big question is how much the appraisal issue will impact the ability of contracts to go to closing,” Yun said. “We are currently conducting a study to assess the degree to which new appraisal rules are impacting home sales.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

**

View the original post here.

For more information about real estate trends, visit my website.

2009-07-02T13:01:00.000-05:00

Central Texas home sales showing signs of a pickup

By Shonda Novak| Wednesday, July 1, 2009, 02:43 PM

Central Texas’ new-home builders started nearly 35 percent fewer homes in the second quarter than a year earlier and closed 36 percent fewer sales, new figures show.

However, there are signs the market may be picking up from earlier this year, because builders started 1,861 new homes in the second quarter, up nearly 53 percent from the first three months of 2009, according Residential Strategies Inc., which tracks the housing market.

“The second-quarter period historically marks a time of increased start activity, based on increased buyer traffic and sales during the spring selling season,” said Mark Sprague, the Austin partner with Residential Strategies. “Homebuilders had very few backlog orders to fulfill during the first quarter and no need to begin any speculative construction, but buyer traffic and sales have increased, marking the need for additional starts during the second quarter.”

For the 12 months ending in June, builders closed 8,978 sales, down 32 percent from the 12 months that ended in June 2008.

From The Austin American Statesman

For more information about Real Estate Trends in the Austin area visit my website.

Real Estate Trends in Texas

2009-07-02T11:15:00.000-05:00

Are you interested in getting the straight facts about the real estate market from a real estate voice that you can trust? While you can always visit my site, there are some statistics that I have just got to share with you. Click here for some astounding and interesting stats on Texas real estate trends.

Texas Market Review

2009-07-01T10:02:00.000-05:00

Click here for a recent market review in Texas done by the Real Estate Center at Texas A&M University. For more information visit my website.
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Press Release

2009-06-24T11:32:00.001-05:00

CONTACT INFORMATION:

David Siroty Heather Roberts Kathleen Reynolds
Coldwell Banker Real Estate LLC Coldwell Banker Real Estate LLC CooperKatz & Co.
973.407.7199 973.407.5590 917.595.3031
David.Siroty@coldwellbanker.com Heather.Roberts@coldwellbanker.com kreynolds@cooperkatz.com

COLDWELL BANKER ‘ON LOCATION’ YOUTUBE CHANNEL
DRAWS A CROWD

Immersive YouTube Channel Now Most Viewed in Real Estate Industry;
Attracts more than 200,000 Visitors in First Month and Features 1,700 Localized Videos

PARSIPPANY, N.J. (June 23, 2009) – In just one month since its launch, Coldwell Banker “On Location,” an innovative branded YouTube™ channel focused on real estate search and insights, has reached the milestone of more than 200,000 visitors to the site. Designed to offer consumers a new way to search for and interact with real estate information, listings and local insights via video, the channel currently features more than 1,700 videos (1,300 of which are new since the site launched), that highlight behind-the-scenes looks at towns and neighborhoods, smart tips and timely news on real estate topics, and video listings of homes for sale.

Coldwell Banker Real Estate LLC launched On Location in May 2009 becoming the first brand to fully tap into the power of video. Since its launch, On Location has been among the top ten most-viewed brand channels on YouTube and is the leading real estate brand page on the site.

“The response we have seen since the launch of On Location has been tremendous and it is a confirmation that video truly is the way of the future for real estate,” said Michael Fischer, senior vice president, marketing, Coldwell Banker Real Estate LLC. “The Coldwell Banker sales force has already uploaded more than 1300 original videos with many, many more on the way. We are proud to lead the industry with an online resource that provides consumers with information to help them through the home buying and selling process.”

Two areas of strategic focus set Coldwell Banker On Location apart from other real estate Web sites. First, it showcases the power of video to bring real estate more vividly to life – offering behind-the-scenes looks at towns and neighborhoods, smart tips and timely news on real estate topics, and video listings of homes for sale. Second, content posted to On Location has a strong emphasis on local information and insights, so consumers can dig deeper into the areas of the country that interest them most.

Fischer noted that the channel is continuing to grow with content being added every day. “As more and more videos are uploaded, On Location will become an even greater asset to consumers. It has the potential to be the Web’s richest array of real estate video content, and the results we have seen thus far prove that we are well on our way," he said.

To create On Location, Coldwell Banker Real Estate closely collaborated with both YouTube, a Google subsidiary, and Google to develop a customized framework and user experience. In addition, On Location is the first branded YouTube channel to use dynamic IP lookup to search for videos, which automatically serves up local results when visitors first hit the site.

Development of the On Location site was a collaborative effort by Coldwell Banker interactive agency partners, FD Kinesis and Bootstrap Software, Inc.

To see a video about Coldwell Banker On Location please visit: http://www.youtube.com/watch?v=W1AKZDhUrLY

YouTube is a subsidiary of Google Inc.

About Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and more than 101,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

For more information visit my website.

Altos Research Statistics for AUSTIN, TX

2009-06-15T16:38:00.001-05:00

An interesting website with statistics on Real Estate in Austin, Texas.

For more information about Texas Real Estate or to request a personalized market analysis, visit MY WEBSITE

2009-06-12T12:34:00.000-05:00

Ever wondered if the move to Texas is right for you? Here are two interesting articles you might want to consider.

Austin Woman magazine delved in to the quirkier side of Austin by comparing it to another quirky city: Portland, Oregon.

Still wondering if the economy is going to get better? MSNBC finally got some answers to the question so many Americans have been asking -- "Which states will recover first?" This REALTOR is not surprised that Texas will be at the top if the list.

Looking for more answers to your burning questions about real estate? Don't hesitate to contact me, or visit my website.

Most Expensive Home-$750 Million

2008-09-17T20:01:00.000-05:00

Russian billionaire’s purchase of French villa sets new world record for most expensive home -- $750 million!
Most expensive home on the market in Lakeway $3,995,000
August 11, 2008 -- The market for the average priced U.S. residence may be soft, but the über rich (especially the Russians) continue to drive prices up at the very top of the world’s luxury market. Case in point -- Villa Léopolda, one of the most historic estates on the French Côte d'Azur, is now under contract by an anonymous Russian billionaire for $750 million (€500m). This three-quarters-of-a-billion dollar sales price sets a new record for the most expensive home sale in the world. The previous record was set earlier this year by Indian billionaire Lakshmi Mittal, with the reported purchase of a London home for his son for an estimated $236 million.
“While the French Villa is a fabulous property, this sale does put into perspective the value U.S. properties represent,” said Cyndi Cummings, a luxury home expert with Coldwell Banker United, Realtors® in Lakeway. “The most expensive residence on the market in Lakeway is listed for just $3,995,000 and is located on the water with more than 7,000 square feet.
Villa Léopolda, a cream-colored, turreted mansion with two guest houses, is midway between Monaco and Nice overlooking Cap Ferrat, near Villefranche-sur-Mer. The villa was originally built about 1902 by King Leopold II of Belgium. The grounds are regarded as among the most spectacular on the Côte d'Azur. Fifty full-time gardeners look after 20 acres of gardens and terraces, planted with 1,200 olive, orange, lemon and cypress trees.
The property’s new owner is said to be a Russian oil oligarch but not – despite initial rumors – Roman Abramovich, the highly visible owner of Chelsea Football Club, who already owns a €100m mansion near Antibes.
According to the Nice-Matin newspaper, a contract was signed last week to transfer ownership of the villa from Lily Safra, the widow of Edmond Safra, a murdered banking billionaire. Rumor has it that Mrs. Safra held out for months as the persistent mystery buyer kept raising his offering price. The paper also reported that 60 villas or mansions on Cap Ferrat are now owned by wealthy Russians.
The property has a unique history. In 1916, King Leopold’s nephew and heir, King Albert I, turned the villa into a hospital for officers wounded during the First World War. It later passed into the hands of the Agnelli family – Fiat automotive tycoons -- and became the scene in the 1960s for legendary jet-set parties attended by Frank Sinatra, Ronald Reagan (in his acting days) and other celebrities.
“This sale raises the bar and makes the half dozen or so $100 million U.S. properties on the market seem like bargains,” said Laurie Moore-Moore, Founder of The Institute for Luxury Home Marketing (www.LuxuryHomeMarketing.com), a US-based organization which trains real estate agents who work in the luxury market and awards the international Certified Luxury Home Marketing Specialist designation. “Today’s affluent are citizens of the world and the successful luxury agent must know how to reach them and what lifestyles they are seeking. It’s an exciting and active market for agents at the top.”
Cummings is a member of The Institute for Luxury Home Marketing and has received special training in assisting upper-tier buyers and sellers. For exclusive information about luxury homes in the Lakeway you can contact her directly at 512-423-6782 or visit her website at www.laketravisliving.com.

First Time Home Buyers

2008-08-20T18:15:00.000-05:00

NEWS RELEASE
FIRST-TIME HOME BUYER EXPECTATIONS FOR ‘MOVE-IN’ CONDITIONS MAY CONFLICT WITH THEIR DESIRE FOR AFFORDABILITY
New Coldwell Banker® Broker Survey Reveals Possible Disconnect
in First-Time Home Buying Process

PARSIPPANY, N.J., (Aug. 21, 2008) – First-time home buyers are primarily concerned with affordability when choosing a new home, but their expectations may be too high relative to their current financial buying power, according to a recent Coldwell Banker® survey conducted among its brokers. While nearly half of the Coldwell Banker broker respondents reported that affordability was the No. 1 concern for this group, 81 percent said today’s first-time home buyers consider move-in conditions to be very important when searching for homes. In contrast, only 7 percent are looking to purchase “fixer-upper” homes that they could buy at a lower price and renovate themselves.

“In the past, first-time home buyers were willing to purchase older, more basic houses in an effort to save money and break into homeownership,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate, LLC. “Today, this group has greater home expectations because they have grown up more accustomed to their parents’ lifestyles. It is important for first-time homebuyers to remember that by considering a ‘fixer-upper’ for their first home purchase, they can build equity over time and move up and into their second-stage home that better reflects their expectations.”
Survey findings also suggest that first-time home buyers worry more about credit ratings and approval than they did a decade ago, but less about down payments. This may be because they have saved money themselves, or have received additional support from parents to help their first-time home purchase.

According to 29 percent of brokers surveyed, first-time home buyers were more concerned with down payments 10 years ago than anything else, while only 17 percent said this is the biggest concern in today’s market. Meanwhile, survey respondents said that only 4 percent of first-time home buyers were worried about their credit scores in 1998, while 14 percent said it is more of a concern today.

“Owning a home is a great investment that will provide tax breaks, financial gains – as well as considerable joy over the years,” Gillespie said. “First-time home buyers now have higher standards, placing an increased focus on the financial aspects of home ownership and at the same time, want a larger home they can live in right away.”

Additional key findings from the survey include:

· 71 percent of brokers noted that first-time home buyers are looking for larger homes than they were 10 years ago.

· According to 41 percent of the respondents, proximity to job is the No. 1 attribute first-time home buyers are looking for in a home.

· 35 percent of the survey respondents said “investment” is the No. 1 reason first-time home buyers are making their purchase.

· 46 percent of the survey respondents reported that first-time home buyers look at five to 10 homes, on average, before making a purchase.

In addition, the survey explored initial reasons that a first-time home buyer contacts a Realtor in today’s market and how that has shifted from 10 years ago, according to the Coldwell Banker brokers:

Today’s Market
10 Years Ago
They are ready but want assistance in the process, including identifying neighborhoods, negotiating of price and paperwork
73%
32%
Because that is what they feel like they are supposed to do
3%
28%
To view houses / do walk-throughs
17%
30%
To help with navigating mortgage issues
1%
4%
They are not ready but trying to better understand the process
6%
6%

Methodology: Coldwell Banker Real Estate LLC conducted an online survey about the trends real estate professionals are seeing with first-time home buyers. The survey yielded responses from 150 Coldwell Banker brokers across the United States.
About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2007, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the eighth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,700 residential real estate offices and nearly 117,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.
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For more information visit my website.

Luxury Homes Survey

2008-07-24T11:57:00.000-05:00

NEWS RELEASE
Media Inquiries: David Siroty Meredith Topalanchik
Coldwell Banker Real Estate LLC CooperKatz
973.407.7199 973.220.8577 David.Siroty@coldwellbanker.com mtopalanchik@cooperkatz.com

AFFLUENT HOMEOWNERS FOCUS ON LOCATION, LOCATION, LOCATION
ACCORDING TO THE 2008 COLDWELL BANKER PREVIEWS INTERNATIONAL® LUXURY SURVEY

High-End Homeowners Still Aspire for a Dream Home; 17 Percent Have Considered Moving to Obtain a Specific Zip Code

85 Percent Expect Home Prices to Increase Over Next Five Years

PARSIPPANY, N.J. (EMBARGOED UNTIL July 24, 2008) – Homeowners at the highest end of the real estate market still have a dream house in mind and zip code does play a factor in where some call home, according to the 2008 Coldwell Banker Previews International® Luxury Survey. Top locations for a dream home among those surveyed were on an island (27 percent) or in a rural country setting (22 percent), followed by the suburbs (18 percent) or an international destination (18 percent). Additionally, 17 percent of those surveyed confirmed that they have considered moving expressly to obtain a specific address or zip code. Eight percent of respondents actually admitted to having been influenced to purchase a property to “keep up” with friends or family.

In addition, high-end homeowners remain optimistic about home values with a strong majority of the affluent homeowners surveyed (85 percent) expecting the price of their homes to increase over the next five years, a sharp increase from the 66 percent tallied in the 2007 survey. In addition, four out of five of these homeowners surveyed believe the increase in value will be “significant” to “moderate” (81 percent).

“Key findings from our annual survey of the luxury market demonstrate that the typical million-dollar homeowner is invested not only in the value of their home as a current part of their portfolios, but also see long-term gains coming from this investment,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate LLC. “Interestingly while 44 percent of those surveyed indicated that they plan to stay in their primary residence for at least 10 years, they also dream of owning the perfect home.”

The 2008 Coldwell Banker Previews International Luxury Survey polled 305 U.S. homeowners whose primary residence is valued at over $1 million ($2 million for California residents*) and who have investable assets of more than $1 million. The average annual household income of the 2008 luxury survey’s respondents is $754,000.

When asked to identify a location for a dream home, the following were cited by respondents:

Location of Dream Home
Percentage of Respondents
Island
27%
Rural / country
22%
Suburbs
18%
International destination
18%
City / hi-rise with amenities
13%
City / single-family home
10%

Second Homes and the Lure of the Beach

The survey revealed that about half of the affluent homeowners surveyed (48 percent) own at least one secondary residence. Most of these properties are located in beach areas (45 percent). For those who own second homes, significantly more men than women cited that the primary purpose of the residence was a retirement property (17 percent versus 8 percent).

Interestingly, a significantly greater percentage of older respondents (ages 65-plus) said they are considering purchasing an additional property as a new primary residence (42 percent versus 19 percent of respondents ages 64 and younger).

For luxury homeowners, the following are the desired locations identified by respondents for a secondary home:

Secondary Home
Percentage of Respondents
Near a beach
45%
Near a lake or river
23%
Warmer climate
23%
In the mountains
17%
Near a ski resort
12%
In another country
12%

“Must Have” Luxury Amenities

Whether inside or outside, “must have” luxury amenities such as designer kitchens, formal landscaping, water views, customized home entertainment centers and swimming pools are the top amenities of choice for luxury homeowners.

“Must have” luxury amenities in the home that respondents either currently have or are considering getting, include:

Must Have Luxury Amenities
% Respondents Who Currently Have
% of Respondents Who Are Considering

Designer kitchens
60%
26%
Customized home entertainment centers
47%
27%
Indoor gym / fitness room
33%
24%
Wine cellar
31%
24%

“High-end kitchens, a well-kept appearance outside of the home, and swimming pools have become the standard for luxury homeowners,” said Gillespie. “These areas of the home attract attention and have long been critical factors when considering the value of a property.”

Formal landscaping was, by far, the amenity mentioned most often by respondents as something they currently have surrounding their primary residence (77 percent). The following are additional luxury amenities that are found surrounding affluent homes:

Luxury Amenities Surrounding Primary Residence
Percentage of Respondents

Formal landscaping
77%
Water view
43%
Swimming pool
38%
Hot tub
35%
Boat dock
17%
Golf course / putting green
16%
Tennis Court
14%
Basketball court
9%

Relative to maintaining luxury homes, those surveyed indicated that landscapers (95 percent) and housekeepers (62 percent) were a must. Of note, housekeepers were significantly more common among those ages 54 and younger (72 percent versus 55 percent of those ages 55-plus).

Best In Show

Approximately three in 10 respondents have specific rooms in their homes that are used to impress house guests (29 percent). Among these respondents, the living room (72 percent) is the primary room that is used to impress house guests. Only one in 10 or fewer respondents said any other rooms in their homes are used to impress.

The survey was conducted online by independent market research firm, ICR, in April 2008 and commissioned by Coldwell Banker Previews International®, the exclusive Coldwell Banker® service dedicated to luxury real estate. In 2007, the Coldwell Banker system participated in more than 25,000 transaction sides of homes priced at $1 million or more in 2007 with a total sales volume of $46.6 billion.

* The survey questioned 305 owners of homes with a primary residence valued at greater than $1,000,000 and investable assets greater than $1,000,000. The survey questioned owners of homes valued at $2 million and up in the state of California. This was done because, according to the California Association of Realtors, the existing-home median price in the state is $403,870, compared with the national existing-home median price of $202,300 (as of April 2008, according to the National Association of Realtors).

About ICR
ICR is a full-service market research firm specializing in designing customized methodologies across 12 industry sectors and a leading provider of omnibus research services. Our Advanced Research Methods group designs and executes custom research and solutions to complex business challenges on a wide range of issues, including global research in over 90 countries.

About Coldwell Banker Previews InternationalÒ
The Coldwell Banker Previews InternationalÒ program has been marketing luxury homes since 1933. This luxury home marketing program has been exclusive to Coldwell BankerÒ affiliates since 1980. The exclusive group of certified Previews® Sales Associates make up only 10 percent of the more than 111,000 Coldwell Banker sales associates worldwide. Coldwell Banker became one of the first national residential real estate brands to launch a second Web site totally dedicated to the luxury real estate market. The Web site www.coldwellbankerpreviews.com features more than 15,000 luxury properties with an average listing price of over $1.8 million.

About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2007, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the eighth straight year and 12th among franchisers in all industries. The Coldwell Banker System has approximately 3,600 residential real estate offices and 111,500 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

For more information visit my website.

Most Expensive Home

2007-12-21T14:21:00.000-06:00

Press Release
CONTACT: Cyndi Cummings (512-423-6782)
$175 million sale sets new U.S. residential sales record
Most expensive property for sale on the south shore of Lake Travis, $5,395,000
(December, 2007) The U. S. housing market overall may be suffering from the doldrums, but wealthy home buyers continue to invest in homes at the very top of the market. Evidence of the strength of the luxury home segment was revealed in late November with the sale of the Trinchera Ranch in Colorado for a record-setting $175 million. This sale breaks the U.S. residential sales record of $103 million set earlier this year in New York’s Hamptons.
By comparison, the most expensive property currently on the market on the south shore of Lake Travis is 5,395,000, according to Cummings, a real estate professional with Coldwell Banker United Realtors. “This property is certainly more affordable than the $165 million home in Los Angles that is the priciest listing in America today,” said Cummings.
Sellers of the Colorado property were the heirs of the late Malcolm Forbes, who acquired control of the historic Trinchera ranch in 1969. The buyer is billionaire hedge fund manager Louis Moore Bacon, who appears as number 286 on the Forbes list of the wealthiest Americans. Trinchera is the largest ranch in Colorado and its 171,400 acres contain five residences and a Western style lodge with 16 bedrooms.
Although the Colorado sale set a U.S. sales record, it fell short of the world record residential purchase, also set this year, with Sheikh Hamad of Qatar’s acquisition of a penthouse condominium in London for £100 million - equivalent to about $200 million at the time of the sale.
“Although the vast Colorado ranch, the ocean front lot in the Hamptons, and the London penthouse condominium are not apples-to-apples comparisons, they are each indicative of the health of the very top of the world’s luxury home market,” said Laurie Moore-Moore, Founder of The Institute for Luxury Home Marketing, an international organization which tracks the luxury home market and trains luxury real estate agents.
“These sales illustrate the fact that there are more rich households than ever before and the world’s wealthiest have shifted more of their investment dollars ou Press Release
CONTACT: Cyndi Cummings (512-423-6782)
$175 million sale sets new U.S. residential sales record
Most expensive property for sale on the south shore of Lake Travis, $5,395,000
(December, 2007) The U. S. housing market overall may be suffering from the doldrums, but wealthy home buyers continue to invest in homes at the very top of the market. Evidence of the strength of the luxury home segment was revealed in late November with the sale of the Trinchera Ranch in Colorado for a record-setting $175 million. This sale breaks the U.S. residential sales record of $103 million set earlier this year in New York’s Hamptons.
By comparison, the most expensive property currently on the market on the south shore of Lake Travis is 5,395,000, according to Cummings, a real estate professional with Coldwell Banker United Realtors. “This property is certainly more affordable than the $165 million home in Los Angles that is the priciest listing in America today,” said Cummings.
Sellers of the Colorado property were the heirs of the late Malcolm Forbes, who acquired control of the historic Trinchera ranch in 1969. The buyer is billionaire hedge fund manager Louis Moore Bacon, who appears as number 286 on the Forbes list of the wealthiest Americans. Trinchera is the largest ranch in Colorado and its 171,400 acres contain five residences and a Western style lodge with 16 bedrooms.
Although the Colorado sale set a U.S. sales record, it fell short of the world record residential purchase, also set this year, with Sheikh Hamad of Qatar’s acquisition of a penthouse condominium in London for £100 million - equivalent to about $200 million at the time of the sale.
“Although the vast Colorado ranch, the ocean front lot in the Hamptons, and the London penthouse condominium are not apples-to-apples comparisons, they are each indicative of the health of the very top of the world’s luxury home market,” said Laurie Moore-Moore, Founder of The Institute for Luxury Home Marketing, an international organization which tracks the luxury home market and trains luxury real estate agents.
“These sales illustrate the fact that there are more rich households than ever before and the world’s wealthiest have shifted more of their investment dollars out of alternative investments like commodities and into multiple residences. Based on this year’s World Wealth Report from Merrill Lynch and CapGemini, the world’s über rich have invested 12% of their total portfolios in homes other than a primary residence,” said Moore-Moore. “In short, there is more money than ever competing for homes at the very top of the market. The luxury residential market is the good news story in real estate.”
Cummings, a member of The Institute for Luxury Home Marketing, agrees. “In most markets across the country, the very top of the market remains healthy – luxury is the ‘sweet spot’ in real estate.” t of alternative investments like commodities and into multiple residences. Based on this year’s World Wealth Report from Merrill Lynch and CapGemini, the world’s über rich have invested 12% of their total portfolios in homes other than a primary residence,” said Moore-Moore. “In short, there is more money than ever competing for homes at the very top of the market. The luxury residential market is the good news story in real estate.”
Cummings, a member of The Institute for Luxury Home Marketing, agrees. “In most markets across the country, the very top of the market remains healthy – luxury is the ‘sweet spot’ in real estate.”

For more information, go to http://www.laketravisliving.com

Quoted in a San Antonio Newspaper!

2007-08-14T15:25:00.000-05:00

Cyndi was recently interviewed by a San Antonio Newspaper! As a top adviser in real estate - especially in lake living - Cyndi was asked a few questions about the Lake Travis lifestyle.
http://www.mysanantonio.com/business/realestate/stories/MYSA081207.10D.lakecommun.2399a3d.html

Interested in living on the Lake? Cyndi is an expert in finding the perfect home for you!

Check out her premium listings --on the lake! -- at http://www.laketravisliving.com/

Welcome!

2007-06-12T17:44:00.000-05:00

Welcome to my new blog! Check back weekly for helpful information about the real estate trade. In the market for a new home? Looking to move? I can help you! Just go to http://laketravisliving.com to learn more about me and my business.

My Experience Will Move You!

Austin, Texas Real Estate Blog and Lake Travis News

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Check it out!

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For homeowners in Steiner Ranch, living is a SNAP

Austin named one of America's fittest cities.

A new report looks at 30 different measures to determine which cities' residents are healthiest.

Fed moves to curb housing abuses

The U.S. central bank recommends new rules to limit compensation for mortgage brokers and clarify risks for borrowers.

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Austin home sales hit highest level in a year

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Postings remain higher than in '08, but drop is welcome, analysts say.

REALTORS® SAY HOUSING INCENTIVES HELP ECONOMY, SMALL BUSINESSES

100% financing for home purchases available through USDA Rural Development - Moberly, MO - Moberly Monitor-Index

Appraisal Institute Applauds Freddie Mac's Revised Guidelines

Pending Home Sales Record Fourth Straight Monthly Gain

Central Texas home sales showing signs of a pickup

Real Estate Trends in Texas

Texas Market Review

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Altos Research Statistics for AUSTIN, TX

Most Expensive Home-$750 Million

First Time Home Buyers

Luxury Homes Survey

Most Expensive Home

Quoted in a San Antonio Newspaper!

Welcome!

More than 15 percent still protesting
rates