Texas real estate

Trying to come up with things to do with out of town visitors in the height of summer? The Austin area offers a wide variety of activities to entertain even the most difficult audience. During the summer months, your primary goal will be trying to stay cool, and Austin and the surrounding area offers swimming holes a-plenty.

The iconic Barton Springs in Zilker Park is open from early spring to late autumn. Sometimes called the soul of Austin, this spring fed pool maintains a steady 68 degrees in all seasons. And don’t forget to impress your visitors with a promise of seeing the extremely rare salamander that is only found in the spring and pool at Barton Creek.

The Deep Eddy Pool, near downtown in west Austin, boasts a huge wading area for the tiny people and water temperatures that never rise above 72 degrees. Throughout the summer, they host Splash Party Movie Nights, where family pleasing movies are played on a big screen while viewers float in the pool.

If you are willing to go a bit further afield, then you really should make a visit to Hamilton Pool, about 40 minutes outside of Austin off of Highway 71. The natural spring is found in a grotto that was formed when the dome of an underground river collapsed thousand of years ago. The result is a very family friendly and secluded swimming spot that seems like a fairy wonderland. Because the ecosystem around the springs is fragile, the park closes when the 100-car parking lot is full, so you must call ahead.

Further impress your guests by stopping off at the Salt Lick on your way home, renowned for what some would argue is the best barbeque in Texas. It definitely provides the proper atmosphere, located as it is in the middle of nowhere about 12 miles south of US 290 West. The menu includes brisket, chicken, ribs, sausage, and the ubiquitous peach and berry cobblers. Take note, however, that it is located in a dry spot in Hays County, so you have to bring your own alcoholic beverages.

Blue Hole, located in Wimberly, Texas, has been named one of the top ten swimming holes in Texas. The land was privately owned, but in 2005 was purchased by the village of Wimberly and is being developed into a regional park. Another spot appropriate for fairies, the Blue Hole is surrounded by old growth cypress trees and boasts a rare ecosystem of natural grasses, wildflowers, birds, reptiles and insects. And its proximity to downtown Wimberly means that after cooling off in the springs, you can proceed to shop `til you drop in one of the towns dozens of specialty stores and art galleries. Shops are open Monday, Thursday, Friday and on the weekends. Market Day takes place the first Saturday of the month from April through December, when more than 400 vendors put antiques, collectibles, arts and crafts up for sale.

Krause Springs, another stunning swimming hole great for families, boasts clear and shallow waters. Located about 30 miles from Austin off of Highway 71, the pool is listed on the National Register of historic places and is also shaded by large cypress tress. You can picnic and camp at the pool, and there are admissions fees.

By: Ki Gray

The real estate market is one of the best places to invest your money. You may invest big cash but the returns could be worth it. However, succeeding in this area may call for your understanding of the real estate market.

The kind of market that exists should be your guide in determining the kind of tactics and techniques that will be used to be successful in real estate market. However, do you know the different kinds of market?

There are two kinds: the buyer’s market and the seller’s market. Both are easy to understand. It is simply basic economics. Knowing both types is one of the most important steps to make the right decision in buying and selling. However, if you want to find what they are all about, refer to the concepts below.

Buyer’s Market

When the number of houses sold in the market outnumbers the number of people wanting to buy a home, the condition is considered a buyer’s market.

The sellers would be very unhappy to engage in market activities in this kind of condition. For one, they would have long selling periods due to high competition. And second, the longer the property sells, the lesser its value would become. Hence, selling techniques and tactics of all kinds must be employed to help speed up sale.

Buyers are greatly advantaged in this condition since they have great negotiating power as to price. When sellers become desperate to sell, for sure the buyer can offer a low purchasing price but not to the point it of becoming a lowball offer. Aside from that, they are also lucky to have wide variety of choices and even luxury homes can be affordable.

Seller’s Market

If you look at this concept, it is simply the opposite of buyer’s market. In here the number of buyers exceeds the number of sellers, which is really a good thing. In this condition, the seller will be very happy. Since the number of demand for houses exceeds the number of houses available in the market, home sale would be fast and sellers are more likely to protect the value of the house. Selling periods are cut short and sellers wouldn’t have a hard time looking for a buyer for their home.

Buyers on the other hand, will have tough competition. Anyone who wants to buy a house should be able to present a good offer to the seller to be able to get the deal. Aside from that, sincerity to buy the property must also be proved in order to get an edge over other hungry buyers. This involves getting pre-qualified or pre-approved, getting all funds ready and many others.

You see, learning the different effects of the market will certainly help you decide what to do with consideration to whatever role you are playing (if you are the buyer or the seller). Both types of markets will open your eyes to your advantages and disadvantages should you engage in real estate market activities.

By: Katrina Marie Santes

Real Estate Ownership

Generally, apartment-style buildings are called condos, two-story row houses are known as town homes, and free-standing homes on small lots are referred to as garden homes. Unfortunately, this description creates some confusion about real estate ownership. Apartment, town home, and garden home describe the design or construction of certain homes. The word “condominium” does not refer to a the layout or style of a building. Condominium is a form of ownership of real estate. The form of ownership of real estate cannot be recognized by observing the building design.

Condominium Regime

The legal definition of condominium is: the absolute ownership of a unit based on a legal description of the airspace the unit actually occupies, plus an undivided interest in the ownership of the common elements, which are owned jointly with the other condominium unit owners. Each unit owner of a condominium has individual title to the space inside his unit. The space is sometimes described as beginning with “the paint on the walls.” In addition, each unit owner has an undivided interest in the physical components of the condominium buildings and land.

A popular type of condominium development is the multi-story apartment. In this case, there is no land under each unit. In these developments, the condo association usually handles maintenance of the building exterior and common grounds, while the unit owners maintain the interiors of their units. A condominium association is selected to make decisions about expenditures for repairs, and to handle administrative work related to the common areas. Fees are collected from the unit owners to pay for common maintenance. The association normally holds an insurance policy covering the jointly-owned areas, while individual owners carry insurance for the interior components of their units.

Condo projects may resemble duplexes, town homes, garden homes, or residences on regular lots. In general, the creation of a condo regime allows the developer to get more density approved than would be allowed if he had done single-ownership lots. This is often the reason why the condo regime is chosen instead of a development with single ownership lots. A condominium may be built as two units of a duplex. In this case, the two owners may jointly make decisions concerning maintenance of any common areas. By setting up the units of a duplex as two condos, the owner is able to sell them to two different owners.

Each condominium has rules that are specific to the development, so no assumptions should be made about their requirements. It is important to read the condominium documents carefully before purchasing a condo. The documents specify the maintenance that is covered by the common budget. In one project, the association may handle exterior components, decks, pools, sidewalks and driveways. In another, the individual owners may be responsible for more maintenance of their units, including foundations, roofs, and exterior walls.

If you have questions about the division of labor between the common budget and the individual owners of a condominium, you can present your question to the condo board itself. The board can give you an interpretation of the rules and clarify how the issue has been handled in the past. Another possibility is to ask a real estate attorney to review the documents for you. Realtors, other unit owners, or maintenance workers are not appropriate or reliable sources for the interpretation of condo documents.

The Texas real estate contract for condominiums contains a provision requiring that the buyer be given a copy of the condo documents, with a period of time to review them. During the document-review period, the buyer may terminate the contract without penalty. In addition, a resale certificate is must be provided by the association president or manager. This document provides information on the current budgets, insurance coverage, special assessments, lawsuits and other matters that affect the association.

Fee Simple Ownership

In contrast to the condominium regime, you may own real estate by fee simple. “Fee”, which comes from the word, “fiefdom”, refers to legal rights in land, and “simple” means unconstrained. Fee simple is the most common type of ownership. It is the absolute legal title to real property, including both buildings and land.

In fee simple, there are several different possibilities with regard to your obligations of ownership:

(a) Your property may not be in a subdivision at all. In this case, your deed will not include any subdivision restrictions that control your use of the property. Be aware that there could be some deed restrictions put in place by previous owners. In addition to deed restrictions, you may be governed by city or county ordinances or zoning laws that limit your use of the property.

(b) Your property may be in a subdivision with very few restrictions, no common areas, no architectural control committee, and no mandatory dues. Usually these are older subdivisions.

(c) Your property may be in a subdivision of homes on large lots, or in a town home or garden-home community in which there is a legally created homeowners association. In this case, every homeowner is required to be a member of the association. The association may charge mandatory dues and enforce subdivision rules. A certain level of maintenance may be required of each property owner. For example, you may need association approval of exterior paint colors, fences, or additions to your home.

Like the condominium form of ownership, fee simple ownership does not prescribe how maintenance is handled or how developments are governed. For example, the owners of a town house, with fee simple ownership, may be required to fully maintain their units. Or, the owners’ association may cover painting, roofing and yard work for the owners. In subdivisions where there are single family homes on large lots, it is more common for the homeowners association to manage the common grounds, pools and parks, while the individual lot owners fully maintain their own properties.

Understand your ownership rights and obligations

Before buying into a condominium regime or purchasing a fee simple property, you should have a clear understanding of the type of ownership you will have in your property. If you are buying a condominium, it would be wise to read the condo documents carefully and understand how maintenance is divided between the individual owners and the condominium association.

If your ownership is fee simple, with individual ownership of the land, you should review the deed restrictions (if there are any) and understand the restrictions and obligations that apply to your property. In the fee simple form of ownership, there may be mandatory dues to pay for common area maintenance, or, in some cases, the dues may be used for partial maintenance of the individual properties.

If you have a question about your type of ownership or about your obligations as a homeowner, it would be wise to review the title documents with a real estate attorney before proceeding with your purchase. Ask plenty of questions! A clear understanding of your type of ownership, and of your obligations as a homeowner will result in a more satisfying real estate purchase.



By: Roselind Hejl

Selling a house in the current Austin, Texas real estate market can be challenging. Anything the seller can do to make the home more attractive may help it move faster. Doing things which make the house more marketable that are inexpensive or free makes sense. By investing time and effort into the little things, potential home buyers may be more interested in the Austin home. Here are 5 things a homeowner can do to sell Austin real estate faster without spending a lot of money.

Clean It
Austin homes with all of the bells and whistles will not get the proper attention from potential buyers when a house is cluttered and messy. Give it a thorough cleaning. Go room by room. Pack up or throw out anything that does not have a purpose. This includes photographs, trinkets, small appliances and paperwork. A recent market study shows that the biggest turn-off to people looking at a house is piled up laundry. Do the wash and put everything away. Do not leave out boxes full of items to be moved. When they are full, take them to a storage unit. This is a good time to go through the house and get rid of anything that has not been used in the past year. This includes clothing, pots and pans, linens and even furniture.

Identification
How easy is it to locate the Austin home for sale? Two things will help potential buyers find the house on the market. Most importantly, it should have a for sale sign. Those driving around neighborhoods looking for available homes are looking for for sale signs. When renting to tenants while the house is for sale, be sure to have someone check on the property at least once a week to be sure they have not moved or removed the sign. If they have, the realtor or property manager should make sure it does not happen again.

The second most important piece of identification is the address. The house number should be clearly marked. Whether it is stenciled onto the curb, posted on the mailbox, affixed to the house, or printed on a stylish yard sign, it should be visible. Use a combination of methods to make the house number easy to find. This will come in handy should the realty sign be moved or taken down for any reason. It also helps when there is more than one Austin home for sale in the neighborhood.

Yard
Maintain the yard. Mow the lawn. Water it if there are no drought or water usage restrictions in place. Trim the hedges. Plant some pretty, hearty flowers that need little attention. Remove bicycles and toys from sight. If they are not going to be used in the near future, put them in storage. Put up a bird feeder or bird bath and keep it full of food or water. If no one is living in the house, hire someone to maintain the yard weekly until the house has been sold and the contract closes.

By: Jeremy P Stanfords

The city of Austin, Texas is becoming one of the best and most popular places to live, appearing on several “Top Cities To Live” lists by many different publications in recent years. Austin’s unique culture combined with its steady economy and mild climate is drawing in more and more people to relocate. If you are in the market to find a new place to call home, here are some reasons why Texas’ thriving capital city may be the perfect choice for you.

#1-Stable Job Market: The job market in Austin didn’t see as big of a downturn as most other cities in the nation in 2009. In fact, Austin was ranked number one on Forbes’ magazine list of “Best Cities for Recession Recovery.” This is thanks to Austin’s abundance of employers, such as The University of Texas, Dell Computers, Advanced Micro Devices, and the State of Texas. With several new companies popping up in Austin all the time, the job market will remain steady and strong into 2010, with a projected economic growth of $5 billion, according to Forbes.

#2- Affordable Housing: Austin has some of the most affordable homes in the nation, which creates a strong real estate market. In November of 2009, there was a 62% increase in single-family homes sold in Austin as compared to 2008, and the median sales price decreased from $235,000 to $225,000. Austin was ranked number one on Forbes’ list of “Best Bang for Your Buck” because residents enjoy affordable housing and a promising job market.

#3-Entertainment: Austin holds the title of “The Live Music Capital of the World” and for good reason. With more live music venues per capita than Nashville, Memphis, Los Angeles, Las Vegas and New York City, you can always enjoy some kind of live music performance any day of the week. The annual “Austin City Limits” Music Festival brings in several big name and local bands each year and is a widely popular Austin event. South by Southwest is another huge music event in Austin that brings in huge concerts and interactive events. All year long you can find some kind of live music event going on in Austin and there’s always going to be bands playing downtown, so you’ll never have a loss for entertainment.

#4- Film and Fine Arts: Austin is a very creative community filled with designers, painters, dancers, actors, musicians and filmmakers. There are hundreds of arts venues in and around the Austin area, with the most famous being Ballet Austin, Bass Concert Hall, The Blanton Art Center, Zachary Scott Theatre, and The Alamo Drafthouse, where the annual Austin Film Festival screens its films downtown. Austin is America’s number one film destination because of its creative community of professionals, prime shooting locations, mild climate and diverse topography. The movies “Grindhouse,” “How to Eat Fried Worms,” “Sin City,” and “Idiocracy” are just a few big name films that have been made in Austin.

#5-Activities: On any given day, you can find loads of activities, whether it is renting a canoe in Zilker park, shopping along Guadalupe Street or watching the Mexican free-tail bats fly out from under the Congress Avenue bridge. Austin is a great city for sports, as well. You can go to a Texas Longhorns football game or a Texas Stars hockey game, or you can go just north of Austin to Round Rock for the Round Rock Express baseball games at the Dell Diamond. Austin has many family-friendly activities such as The Austin Children’s Museum, Blazer Lazer Tag, Austin Zoo, and the Lady Bird Johnson Wildflower Center, just to name a few. Of course you can always go downtown to check out the Capitol building or the UT campus, as well.

#6-Climate & Outdoors: Austin is well known for it’s very mild climate. It barely dips below freezing in the winter months and stays in the 70′s and 80′s most of the year, except for the summer which can get up to triple-digit temperatures. Because is it almost always sunny outside, there are many things to do outdoors. Austin has many hike and bike trails, dog parks, rivers and lakes to help you make the most of the nice weather.

#7-Food and Drink: Austin is home to some of the most diverse styles of food and drinks in the nation, from fusion cuisines to amazing margaritas to comfort food and delightful desserts, Austin has it all. The two most popular types of food you can find in Austin is barbeque and Tex-Mex, but don’t worry, there are tons of vegetarian options too. And of course, most restaurants in town provide live music to go along with an amazing meal.

#8-Education: The Austin area is home to some impressive educational institutions. In Austin alone, there are 4 universities, a community college, and several trade schools. The University of Texas at Austin is one of the largest public universities in the United States, with over 170 fields of study and 100 majors. UT has one of the most diverse student populations in the country and is a national leader in the number of undergraduate degrees awarded to minority students.

So now that you know what all Austin has to offer, maybe it’s time you thought about relocating to one of the best cities in the nation.

By: Brian Talley

First things first- let’s get the disclaimers out of the way. The following instructions are only the basics. It is important to read the manufacturer’s instructions that come with your new thermostat prior to installation.

Step 1: Turn off the power
Ensure the power supply to the furnace and air conditioner are off by cutting power at the breaker box or removing fuses at the service panel. By all means, don’t skip this step regardless of how great of an electrician you think you are! One wrong move and you’ll be calling your local HVAC company for a repair to your furnace or air conditioner that will cost you much more than the $100 you saved by installing the thermostat yourself.

Step 2: Out with the old…
Remove the old thermostat cover and unscrew the old mounting plate from the wall. Do not disconnect any of the wires just yet. Your old thermostat has a letter associated with each wire. A smart do-it-yourselfer would grab some masking tape and label each wire prior to disconnection. Failure to label the wires could result in hours of wasted time or a slew of explicit language.
Now with the wires fully labeled, it is time to disconnect them from the screw terminals. It may be helpful to wrap the wires around a pencil to keep them from falling into the wall- after all, it is handy from just labeling your wires.

Step 3: In with the new
The first step of installing the new unit is to thread the wires through the new thermostat base. Ensure the base is level and sits flush with the wall. You can choose to mark your holes with a pencil, remove and drill new holes or renegade right through the holes in the base with a 3/16 inch hole at the new location. Next, lock the base into place by screwing the mounting screws into the wall. Double check the base is level before fully tightening the screws.

Step 4: Wire it up
It is a good idea to first consult the wiring diagram of the thermostat manufacturer’s instructions. Next, mount the thermostat to the mounting plate and proceed with wiring. If necessary, use a wire stripper to remove about 1/4 inch of the plastic sheathing. Connect the wires to the screw terminals, matching the letters on the thermostat to the masking tape labels. The wire is wrapped under the screw head by turning clockwise to tighten.

Step 5: Fire it up
Turn the power back on and begin programming the unit. The manufacturer’s instructions should contain the necessary programming information, as each unit is distinct in its programming process.

Just installing the unit, however, doesn’t save you money. Pay attention to the following items when programming your unit for maximum savings potential.

- Most thermostats have four different settings (wake, away, evening, night/sleep). Adjust the times for each of these settings based upon your family’s schedule
- When away during the day, set the temperature to drop (in the winter) or raise (in the summer) for at least eight hours. This maximizes your money savings as well.
- A good rule of thumb is to adjust the temperature by 7 degrees when you’re away and 4 degrees when you are asleep.

By: Jill Black

Why isn’t Forbes magazine moving it’s business to Austin? Forbes says its #1 in America! It’s got beautiful scenery, great recreational choices, a healthy realty market and a slick city attitude. And, as if anyone needed confirmation, Forbes magazine has now ranked Austin in the top three of each of its three ‘best in America’ categories.

Forbes magazine is considered by many to be America’s #1 magazine for business, stocks, finance, lifestyle, technology and much more. When they compiled their 2008 rankings of ‘Best Places for Business and Careers’ this year, they slightly expanded their criteria to include certain other qualities of each area analyzed.

This is where Austin scored and all the facets of the survey contributed to Austin being the # 1of all America, in this category. When taking all aspects into account, income and job growth were still ranked first, but the analysis was expanded to include the whole business atmosphere.

Forbes reportedly gave special attention to the cost of doing business in the cities analyzed. This included the price of office space, labor, taxes and energy. The analysis not only explored the realizable pool of labor, but also investigated the quality and qualifications of the available pool of labor.

The rankings also calculated social characteristics which would make the region more attractive, such as crime rates, housing costs and net migration.

Austin came up as number one! Of course, in Austin this is no surprise, but it is still a feather in the cap to be recognized as the number one nationwide in the revered Forbes magazine.

One of the many reasons given for this ranking is attributed to the University of Texas. Each year the University enrolls close to 50,000 students and 25% of these enroll in graduate and professional degree programs. This results in the available labor pool being supplied with top notch college grads, many with Ph.D. s.

The other two surveys, in which Austin came in second and third would also have helped to contribute to the number one ranking in ‘Best Places For Business and Careers’.

Austin came in at #2 for job growth and at #3 in the ‘Best Cities for Jobs’ ratings. Austin ranks third in the country for net migration; the figures for migration into Austin are quoted as 2.7% per year.

All these factors also contribute to elevating the allure of the Austin housing market, which is named as one of the few in the country predicted to rise in the next two years.

This was reported in a survey compiled by Private Mortgage Insurers, which dammed many areas into an 80% chance of realty decline, whilst analyzing Austin as having less than a one per cent chance.

All these indicators point to Austin as being amongst the best places to live and work in the United States; looks like the secret is out!

By: Brian J Talley

While it is true that as a whole economies are not benefited by the devastating impact of a hurricane, certain sectors of a cities or regions economy do benefit. This can be no better demonstrated than in the impact that hurricane Ike has had on the Sugarland real estate in the state of Texas.

New Opportunities

While many sellers have suffered devastating losses, it is the new buyers who stand to benefit due to the heavy influx of distressed residential and commercial properties that have been forced onto the market. This means that for people who have the capacity to renovate these properties, opportunities now abound.

Marketed As Is

Unlike hurricane Katrina, which left many owners of damaged properties under insured or not insured at all, the vast proportion of property owners in Sugarland were insured. The result is that far more owners of storm damaged properties who don’t have the stomach or the means to renovate have simply taken their insurance money and chosen to market their distressed properties “as is”.

Vacancies Difficult to Locate

Due to the influx of relief and construction workers, the market for rental units in the greater Sugarland area is currently experiencing an unprecedented boom that has left vacancies difficult to find. This has left the door wide open for entrepreneurs who are looking g to get into the rental business by upgrading distressed properties.

A Few Items to Consider

There are however, a few things to be aware of. One is that the credit market is tight, so good credit and real collateral is a must for securing a loan, particularly on a damaged home that is uninhabitable. Also, a lesson that was learned in New Orleans, post Katrina, is that labor costs can and are expected to spike up in the coming months after the storm.

By: Daniel Mummski