Moving To And Living In Austin

How To Find the Right Austin Neighborhood

If you're relocating here from another city or state, how do you know which Austin Neighborhood is right for you?  Here is our surefire way, without even having to set foot here!

1. Determine if schools are a priority for you.  If it is important to you to have your kids going to some of the best public schools in town, or even if you're just concerned that they have a good safe and solid education, knowing what kind of school you're looking for will make all the difference.  For more school information you can email us at erin@austinhbc.com for our "List of Recommended Schools," which gives the highlights of each ofthe top schools in Austin, in what area of town they fall, and the price range of homes that you can find there.

2. Decide if commute time is important to you.  Obviously if you work from home, this won't be much of a consideration.  However, if you're planning on working in South Austin for instance, you may want to rule out North Austin or Round Rock, so that your commute won't be an hour or more each way. If you have questions about the traffic near your place of business check out this helpful site from our  local newspaper:  http://www.statesman.com/traffic/content/traffic/index.html

3. Write down all of your must-have's for the house.  Are you only willing to live in homes newer than 2005?  Do you need a smaller home for retirement?  Do you need lots of space for all the kids and pets?  Some areas of town don't have many newer homes, some don't have older homes, some are full of young families, some don't have homes over 3000 square feet.  When you can solidify what you truly need in the home, it helps you narrow down potential areas.

4.  Once you're clear about your needs, take our Virtual Tour of Austin, where we sit down with you over the phone and the internet and guide you through all the areas that fit your criteria.  That way, when you're searching online, you're armed with the information you need to decide if a home or an area will work for you.  Email us to set up your free tour at erin@austinhbc.com.  Another great resource is our Austin Neighborhood of the Week at www.AustinHBCNeighborhoods.com.  Also, check out this helpful and comprehensive neighborhood guide:  http://www.statesman.com/classifieds/content/classifieds/realestate/neighborhoods/index.html

Austin Real Estate: Mortgages

With all the national hubbub about the lending industry, where do we currently stand, and can the every day home buyer or small scale investor get a loan in today's banking and lending environment?

A recent study by the Perryman Group, Ltd., a research group based out of Waco, Texas, reveals some surprisingly optimistic news.

1. The worst could already be over for banks and financial institutions in terms of defining the problem.

2. Cleanup of the proplem has begun in earnest.

3.  Defaults, which are still only half of what they were in the 1980's, are already stabilizing.

4. Interest rates are still remarkably low compared to those 20 years ago.

Overall, the article reveals that the financial and housing sectors are due for a recovery by the end of 2008, and an even bigger recovery over the next few years.

http://theaustonianblog.typepad.com/theaustonian/files/ray_perrymans_report_for_the_austonian.pdf

What we have seen recently in our own business is that clients who would have previously applied for a no documentation loan (meaning that they simply stated their income rather than providing any solid documentation) are now having to jump through a few hoops in order to get loans.  They can no longer be picky about their interest rates, and many are simply having to wait until their credit score improves or until they can show proof of income in order to get a loan at all.  While this is certainly a hard time for prospective home buyers, at least the news from this study appears promising on the horizon.

If you have questions or would like to discuss your options with us, call 512-454-8955.

Austin Texas Real Estate: Areas

This real estate boundary map is especially helpful.  If you have found a home on the internet, and you're trying to figure out where it is located, you can look for the Area Name, which is usually something like 1B or NW, and then find it on this map.  Download MLSboundaryMap.gif.pdf

Building Wealth Through Real Estate

Here is just a quick note to tell you how we can help you or anyone you might refer to us.

Recently a client, Toni, came to Austin all the way from Greece interested in investing in real estate, as well as spending some time with family.  He only had a few months to spend here before his visa expired.  He needed to find a solid investment quickly, so that he could start making some money here in the states.  To add to his worries, he didn’t have any credit here, so he was having a difficult time qualifying for a loan.

We consulted with Toni extensively about the type of investment he needed, and then guided him to a building project near central

Austin

that would make him plenty of money within the time frame he needed.  We helped him outline the whole strategy for his project, and even referred him to a great lender that could help with all his financial and credit goals.  Now Toni is happily working toward a profitable project, and is well on his way to making the wealth here that he imagined!

Who is the next person you know who is interested in building wealth through real estate?  Have them contact us to see how we can help.

Austin Real Estate Market News March 2008

How is the Austin Market Doing?

One way that real estate professionals determine whether an area or a city is a seller's market or a buyer's market is by calculating how quickly the homes on the market are selling by area, and then determining how many months' supply we have on the market now.  For instance, in Austin in January the total sales of single family homes showed a ten percent decline over last year.  This decline can sound scary, especially in light of the national news.  On further inspection of the total numbers for the city, however, my calculations show that we have close to a five month supply of homes on the market.  This tells us that we have a relatively stable market.  (A buyer's market is when we have a seven month supply or higher, and a seller's market is when we have three or less.)

Take a look at one Austin realtor's similar read of the market:  Http://www.escapesomewhere.com/austinblog/.  This site has great stats taken directly from the Austin Board of Realtors, so it is very informative.

Also, check out this realtor's stance that this is not the right time to sell your home in Austin: http://www.crosslandteam.com/blog/.

Austin Job Market

Austin has been rated the second city in the nation for job growth in 2008 by Forbes.com.  We have also been rated number one for income growth!  Our top industries are technology, defense, and government.  The major cities in Texas have all been ranked high in this Forbes study due to our relatively low cost of living and high median household income.  So, while the national economy is cooling, Texas as a whole is remaining stable.  www.forbes.com/2008/01/10/jobs-economy-growth-lead-careers-ex_mk_0110cities.html

What does all this mean to you?  If you're looking to buy in Austin, this is a good solid time.  If you're looking to sell, your home may sit a little longer than you'd like, depending on the area of town.  But, it is still a decent time to sell.

If you'd like a consultation on the market for the neighborhood in which you're intersted, feel free to call or email us any time at 512-454-8955 or MarketWatch@AustinHBC.com.

Spring Break-Austin Style

When people think of destinations for Spring Break their thoughts drift to the beach, maybe the mountains, but would you ever think of Austin, TX as a great place for your Spring Break destination? Maybe you should give it a thought. This Spring Break Austin really lives up to its name as the Live Music Capitol of the World.

From Febrary 29- March 15 the Star of Texas Fair and Rodeo is in town. There are an array of things to do there such as the carnival with lots of rides, a petting zoo, BBQ cook-off, and tons of live music with acts ranging from Willie Nelson to Natasha Bedingfield to Styx to Sean Kingston. If all that doesn't entice you to hit the Rodeo, I am sure a funnel cake will. www.rodeoaustin.com

Next we head downtown to the legendary South by Southwest Music, Film and Interactive Festival.  There are 1500 music acts taking over the city from March 7-16, music of all genres from all over the world, even Hanson will be there...Mmmmboppp. Come on we all know the song! Sing along. Or head downtown. And if Hanson doesn't attract your fancy you have 1,499 other acts to chose from.  There is also a film portion of the festival with screenings, premieres, and parties. Remember to keep your eyes peeled, you just might see your favorite actor or actress! www.austinfilmfestival.com, www.sxsw.com

Other happening events are the Artists and Artisans Festival where local artists showcase their painting, photography, and jewlery.  Jack Kerovac's "On the Road" manuscript is on display at the Harry Ransom Center. And finally "The People's Gallery at City Hall" with hundreds of artworks on loan from Austin artists, galleries and museums. No matter what your cup of tea Austin is sure to have your flavor; so come experience Spring Break-Austin style. www.hrc.utexas.edu

Avery Ranch

Avery Ranch: Is one of Austin's most sought after growth corridors, located close to RR 620, 183, and IH 35 plus the enviorment of the beautiful Texas Hill Country surrounds you. Avery Ranch is also close to major high tech employers and excellent shopping.

Description and Highlights :Avery Ranch is an 1,800 acre master-planned community with over 4000 homes that have access to 17 hill country acres of amenity centers, tennis courts, pools, and hike & bike trails.  At Avery Ranch there is an aray of homebuilders such as Drees, Gehan, Morrison, Ryland and Wilshire.You can find homes ranging from a little less than $200,000 for between 1600 and 2200 square feet, all the way up to jaw dropping $650,000 homes with over 4000 square feet.  Another bonus is that Avery Ranch will conserve the natural habitat, vegetation and environment needed for the continued existence of the natural surroundings. Developers have committed to using water quality ponds of grasses and wetlands instead of concrete retaining pools. Avery will have nine natural ponds afforded by the springs and other critical environmental features.

Check out the Golf Course at  averyranchgolf.com

Gehan Homes-gehanhomes.com

Ryland Homes: http://www.ryland.com/find-your-new-home/2-austin.html

Schools- Served by the Round Rock and Leander District, both of which are highly rated school districts.

Leander District: Charlotte Cox Elementary- Recognized. Rutledge Elementary-Recognized. Vista Ridge High School-Acceptable. Cedar Park High School-Acceptable. 

Round Rock District: Forest North Elementary- Recognized. McNeil High School-Acceptable.