Moving To And Living In Austin

Bella Vista Ranch--Olive Orchard and Winery

We took a great little Texas Hill Country adventure last weekend and visited the lovely folks down at this Winery and Olive Orchard.  The drive alone was beautiful, down in Wimberly out in the country.  Bella Vista not only has 1000 olive trees, an olive press, and a vineyard, but they also grow their own raspberries, peaches, and other seasonal fruits and veggies.  We visited their open house and sampled some of their lovely homemade fruit jams, tasted their fresh olive oil, and enjoyed talking with the owners.  What a great romantic little getaway!  http://www.bvranch.com/

Austin Neighborhood Information: River Place

Community Name: River Place, located just south of 2222, east of the Balcones Canyonlands Preserve, and west of Westminster/Glen lake.  You can reach River Place by heading west on 2222 and turning left onto River Place Blvd.

Community Description and Highlights:  Only 20 minutes from downtown, just a few minutes from the Arboretum Mall, and nestled among Nature Preserves, this master planned estate community is ideal for those seeking convenience, luxury, and all the benefits of living within the natural beauty of the Texas Hill Country.  Convenient access to Lake Austin allows for nearby swimming, bass fishing, boating, and a marina with private slips.

Home prices range from 325k for a home built in 1995 with 2800 square feet, all the way up to magnificent 3.5 million dollar homes with 6000 square feet built in the last few years.  There is a diversity of neighbors here from families with young children to empty nesters.  Also, with a mandatory membership in the homeowner's association, members comprise a very active neighborhood community with annual parties and get togethers frequent.

One great place that we love to eat in this area is Bellagio Italian Bistro, www.bellagioitalianbistro.com.  Located close to the entrance of this neighborhood, this restaurant is a nice upscale place to relax.  It isn't too loud, even on the weekends.  They have fantastic food and a lovely atmosphere.

Arboretum Mall, just minutes from here, is one of the nicest in town.  http://www.io.com/house/shop.html  With stores like Banana Republic, Barnes and Noble, Saks Fifth Avenue, Chico's, St. Thomas, Express, and Just Add Water.  Also has a very nice outdoor play area with lots of greenery and fountains that is very nice for the kids to play on while you enjoy your ice cream from Amy's Ice Creams.

Whole Foods has a nice location just across from the Arboretum that is also great for take out, organic food, or just a devilishly good dessert.  http://www.wholefoodsmarket.com/stores/gateway/index.html

In the same shopping center is a huge movie theater, Gateway, along with great stores like REI, The Birkenstock Store, Manny Hattan's, and Run-Tex. http://www.simon.com/mall/mall_info.aspx?ID=856 

Schools: River Place Elementary, Canyon Ridge Middle and Cedar Park High, which is rated Acceptable. http://www.har.com/school/dispCampusDetail.cfm?id=246913002

 

Austin Neighborhood Information: Barton Creek

Community Name: Barton Creek, located just South of 2244, West of Mopac, North of Highway 71

Community Description and Highlights:  One of the most prestigious communities in Austin, touting all the bells and whistles you can imagine.  With beautiful rolling hill country views, gated communities, a golf course rated among the top 100 in the country, a lovely country club, and magnificent homes, this area is sure to win your heart.  Homes begin at $750,000 and run up to $7 million, with the average price of a home running $1 to 1.5 million. 

This area is truly outstanding.  The homes look amazing all nestled up among the rolling, green hills.  As you drive through, the view of the hills is stunning.  The homes are some of the finest Austin has to offer.

Area amenities include:

Barton Creek Resort and Spa: http://www.bartoncreek.com/

Barton Creek Country Club:  http://www.bartoncreekmembers.com/

The Crenshaw Cliffside Golf Course at Barton Creek:  http://www.golflink.com/golf-courses/course.asp?course=1792956

Fazio Canyons Golf Course at Barton Creek:  http://www.golflink.com/golf-courses/course.asp?course=1792956

Schools: The funny thing about Barton Creek is that the schools are not outstanding.  With the caliber of homes that you find in such a lovely neighborhood, you would think the schools would be incredible. But not so.  The elementary school here is Oak Hill, which is a good solid school, but certainly not exemplary. O'Henry middle is a great middle school, as public schools go, and Austin High is a good public high school, ranked Acceptable.

Don't miss the photo album to the left: Barton Creek

Great Article About the Recent Fed Cuts....

Fed Surprises with Deepest Cut since 1984

The Federal Reserve surprised everyone Tuesday with an emergency intersession rate cut of .75%, the deepest cut in the Fed Funds Rate since 1984. The Fed Governors are acting in direct response to recent reports that the country is on the brink of recession.

If you have credit cards, auto loans, HELOCs, or an Adjustable Rate Mortgage, the Fed's decision to cut this key interest rate is great news. For long-term mortgage rates however, this could signal the beginning of the end for the lowest 30-year home loan rate borrowers have experienced since 2005.

Let's look at the impact of a few recent Fed Funds Rate cuts and the corresponding impact to home loan rates to see what this could mean for you:

Period Fed Funds Rate Cut Impact to Home Loan Rates January to June 2001 Down 2.25% Rose 0.10% October to December 2001 Down 0.75% Rose 0.45% May to August 2003 Down 0.25% Rose 0.78%

Rates are predicted to be cut again when the Federal Reserve meets at the end of this month. Many believe Tuesday's action was taken because of a dramatic downturn in the stock market, where the Dow dropped 464 points, the worst single day drop since September 11, 2001. Since the Fed's announcement, the Dow has recovered much of those losses but volatility is likely to remain a consistent theme throughout the week.

If you are waiting for long-term mortgage rates to fall further from here, don't count on it. Your best chance to lock in the lowest mortgage rates since 2005 is now. Getting your application in process will allow you to capture a rate near all time lows and, with many experts predicting that home values will continue to decline, waiting could kill your chance to capture a great rate if your home doesn't appraise.

http://www.mortgagesbywalt.com/News

Market News for January 2008

Here is a quick note to let you know how we can help you, or anyone you may refer to us.  Followed by our Monthly Market Watch Newsletter.

Recently our clients John and Kelly from England needed to relocate to Austin within 3 months and were feeling stressed and overwhelmed.

John was convinced he needed to live in Westlake, because he heard that Eanes ISD was the best school district in town, and the commute would be good.  But, his budget capped at the starting price for Westlake!  To top it all off, John's company had assigned him a real estate agent who he had never spoken to before and was not giving him very good service.  Big move overseas, new country, new language (well, sort of), new work team, new banking systems---He was frantic!

During our initial consultation over the internet and Virtual Tour of Austin, we took the time to find out everything they wanted...I mean everything.  When they arrived in Austin to look at homes, they knew exactly where they wanted to be.

John and Kelly found a house they love, closer to work than Eanes, with top Austin elementary and middle schools, and even a pool in the back yard, all for less than their budget!  We negotiated a quick close with the seller, and the family was happily into their new home on time.  (Their new tans look great, too!)

Here is the Latest News About the Austin Market and the Surrounding Areas:

1. Hutto is booming--Where the heck is Hutto? 

On the 'Hotness Ratio' on the Austin Board of Realtors' website, Hutto ranks 4th for sales closed in the area for November, up from 12th in October.  Located just 25 miles North of downtown Austin, Hutto boasts good schools in the Hutto and Georgetown districts and affordable new homes priced from the $150's.  Just East of Round Rock on Highway 79, this suburban community has all the conveniences of Round Rock (great shopping and dining, IKEA) with a small town personality.  Check out this map to see just where Hutto is: Map of Hutto

Click here to find out more about Hutto's schools, employment, and growth: Hutto, Texas

2. Our Economy Remains Steady, Despite the Nation

Since the recent tightening of restrictions in the lending industry, Austin's home sales have certainly lessened, but nothing like that of other states around the country.  According to the Board of Realtors, home sales in November dropped 13% over last year.  These numbers, however, come just after 2006, one of the biggest years on record for home sales in Austin.

Fortunately in Austin we were hurt minimally, compared to other areas, by the lending industry issues and the failing markets in other states.  Austin still touts good job growth, a growing economy, great weather and super schools, all of which attract plenty of overseas investors and out of town buyers.  So, the doom and gloom in other markets has not affected us to the same degree.

Check out this recent article by the Austin American Statesman.  (Don't be fooled by the headlines.  It really has a positive message.) Sales in Nov. Drop 13%

3. Rents are up in Austin

If you're a landlord in Austin, you are sitting pretty right now.  Rent rates are up $100+ over two years ago, and the occupancy rate is up to 96.6% from 94.4%.

This change is due in part to the tightening of the lending industry, which has hurt first time home buyers the most.  The job growth in our city has also boosted the rental market.

One article in the Austin American Statesman predicts that the rents will rise 5-6% this year.  So, if you're an investor looking for a property to buy, this is a great time. Apartment Rents on the Rise

Austin Neighborhood Information: Flintrock Falls

Community Name: Flintrock Falls is located off of Highway 620, very close to Lakeway. 

Community Description and Highlights:  This is a lovely and exclusive golf course community located minutes from Lake Travis, with some of the best schools in town.  With two Jack Nichlaus Designed golf courses, a state-of-the-art Tennis Center, a resort-style swimming pool, two country clubs, upscale dining and many family activities, Flintrock Falls boasts a uniquely luxurious lifestyle.

Check out this community's website for a look at their golf course, builders, and community amenitites: http://www.flintrockfalls.com/index.html. 

The homes in this area range from the $450's up to 1.5 million.  Most were built in the last few years, and many are in the Mediterranean, Tuscan or Arts-and-Crafts style.  One very unique feature about this subdivision is that the builders are all custom home builders with great reputations for quality and style.  There are still lots available for building custom homes, and many in the newer sections of Flintrock have up to an acre of land.

Community Amenities:  Located near Lakeway, this community is close to all the shopping and conveniences you'll need.

The Hills--One of the Flintrock Falls Golf Courses http://www.thehillscc.com/golf/flintrock_falls.htm

New Homes for Sale In Flintrock--(That may not be on the MLS)http://www.newhomesource.com/communitydetail/builder-3292/refer-DMD269/community-35024

The Backyard: An open-air music venue that hosts big name bands and performers.  www.thebackyard.net

One World Theater:  Located just off of Bee Caves Road, this theater hosts musicians, plays, and performances of all kinds.  http://www.oneworldtheatre.org/

Hill Country Galleria Mall:  Located at the intersection of Highway 71 and 620, this brand new upscale outdoor shopping mall was complete in October with stores like Dillard's, Barnes and Nobel, and a specialty grocer.  http://www.hillcountrygalleria.com/development.aspx

Schools:  Lake Travis schools are exemplary!  Lakeway Elementary and Lake Travis High.

Check out the photo album to the left for photos of the area.