Cool Austin Real Estate News

Follow me on twitter

2010-03-15T19:37:00.000-07:00

As much as I love blogging... work is busy, busy and it is 2010.

Follow me now on twitter instead at: allisonolson

www.twitter.com/allisonolson for all of the latest news and insight on the Austin real estate market and more.

Thanks-
Allison

Swing by my Open House This Sunday from 2 to 4 pm at 12403 Sceptre Cove, Austin, TX

2009-12-07T13:32:00.000-08:00

Swing by my Open House This Sunday from 2 to 4 pm at 12403 Sceptre Cove, Austin, TX

Allison Olson | Diane Dopson Properties | 512.694.2251
12403 Sceptre Cove, Austin, TX 78727

OPEN HOUSE SUNDAY 12/13 FROM 2 TO 4 PM!

Wonderful Move-in Ready Home in Milwood!

See Virtual Tour Here

4 Bedroom/2 Bath Single Family House offered at $225,000
Year Built 1982
Sq Footage 2,173
2 Car Garage

OPEN HOUSE SUNDAY 12/13 FROM 2 TO 4 PM! This four bedroom and two bath home has an ideal layout that will work great for any home owner. The great family room has vaulted ceilings and a stone fireplace with gas. The home also features recent tile floors, new carpet (professionally installed in November of 2009),new roof (in August 09), recently professionally painted interior and exterior, updated baseboards in many rooms. Private master suite has 2 walk-in closets and a nice sized master bath with two sinks and updated fixtures~Large utility room with storage (a rarity in Milwood)~Sprinkler system and gutters~Updated fixtures~15 SEER HVAC (energy efficient AC/Heat system)~Solar Screens~Recent Water Heater('09)~Large Backyard with tall privacy fence and mature trees~Great landscaping~Owner's Pride Shows Throughout~Anderson High School~Take advantage of the first time homebuyer's tax credit extension now~ Near Mopac, Domain, Arboretum, and more! 15 minutes from downtown. Call or email to see this wonderful home.

PROPERTY FEATURES- Central A/C- Central heat- Fireplace- High/Vaulted ceiling- Walk-in closet- Tile floor- Family room- Dining room- Breakfast nook- Dishwasher- Refrigerator- Stove/Oven- Washer- Dryer- Laundry area - inside- Yard

Contact info: Allison Olson Diane Dopson Properties 512.694.2251
For sale by agent/broker
Equal Opportunity Housing
See Eflyer Here

Voting today? Here are a few things for which to cast a ballot!

2009-11-03T14:29:00.000-08:00

I'm about to head to the polls. First, I need to find out where my new polling place is downtown. I'm hoping it will be the courthouse....

Are you like me, and you need to know where to go to vote? Click here for polling locations.
Click here to see a sample ballot for what you may vote on today.
Click here to see a neutral interpretation of the ballot items, provided by the Texas Secretary of State.

Anyway, I'm heading out to vote for the following, among other things. Now, this election may not seem sexy! But, there are some VERY important ballot items if you are a homeowner or ever plan to be!

Here is a summary from the Texas Association of REALTORS in blue that I think it helpful for homeowners:

The Texas Association of Realtors endorses Propositions 2, 3, 5 and 11 which represent significant appraisal reform and protection of private property rights.

Voter turn-out was extremely low during Early Voting at around 2%, so your vote will be even more powerful.

Your vote is critical in this election, particularly because Propositions 2 and 3 have been targeted by a malicious misinformation e-mail campaign meant to prey on the fears of uninformed voters who may not understand the ballot language. Don't fall victim to this campaign. The bogus email has been denounced repeatedly by trusted resources such as the Dallas Morning News and state legislators around the state.

Here's what Propositions 2, 3, 5, and 11 will do:

Proposition 2 - Ensures that a residential homestead property is appraised as a residential property, not a hypothetical value based on “highest and best use.”

Proposition 3 - Allows the state to have oversight of central appraisal districts and enforce uniform appraisals standards across the state.

Note: Neither Proposition 2 nor Proposition 3 would give the state the ability to tax a residential property. Article VIII, Sec. 1-e of the Texas Constitution states that “no State ad valorem taxes shall be levied upon any property within this State.” Nothing in Propositions 2 or 3 change any language that would affect this strict prohibition.

Proposition 5 - Allows two or more adjoining appraisal districts to have a combined appraisal review board to ensure qualified and knowledgeable board members.

Proposition 11 - Provides private-property owner protections by placing in the Texas Constitution clear restrictions on the use of eminent domain, including closing a loophole that allows governmental entities to take well-maintained land on grounds of “blight."

My last thought is... if you do not take the opportunity to vote, you have no right to complain! I'm off to the courthouse. Have a great day!

The Countdown is on! 47 days left to capitalize on the First Time Homebuyer's Tax Credit

2009-10-14T14:04:00.000-07:00

Well, it's been a while. My computer had the swine flu, and is doing much better... thanks to my amazing IT guy, Jeff!

So, what's the latest? I have been logging miles in my buggy showing first time homebuyers. Buyers are on the move... working to capitalize on the first time homebuyer's tax credit. I've had a few blogs entries about it in the past. Here's a link to an old one, and here are...

Things to keep in mind if you want $8000 just for buying your first home:

1) It's not too late. But, you need to get a move on it! Generally, you need about 30 days from contract-to-close to purchase a home. You must close by November 30th, 2009. So, as long as you start looking in the next 17 days and use a Realtor who is on top of things and jumps to help you focus in on what you are looking for, you can find that new home and without settling on a home you are not crazy about. Remember- this is $8000 free money... and you have to live somewhere anyway, right?

2) Make sure you use a full-time agent who is a licensed REALTOR, meaning he or she is a member of the National Association of Realtors. It also helps to have a Realtor who is an Accredited Buyer Representative. Only 2% of Realtors across the country hold this coveted designation, which requires experience (certain number of closed transaction) and hours of additional education. (Feel free to call me if you aren't already working with someone or shoot me an email here. )

3) Get pre-approved now with a lender. If you are needing good suggestions of lender names, again, shoot me an email. A lender can assist you by qualifying you first to make sure you are not looking above a comfortable price range. He or she can also show you exactly what your payments would be on a home, and most importantly, sellers are not even looking at offers right now without an accompanying letter from the lender.

4) Make sure you have not owned a home in the past four years and that you fall into the criteria. Certain income levels cannot benefit from the first time homebuyer's tax credit. Click here to take a look at my past blog that has details and links.

5) If you are thinking about selling, jump on it and get your house listed so you can hopefully capitalize on one of these first time homebuyers!

And, remember... don't settle! But, don't hesitate if you see one that you love because the homes in the under $250,000 price range are going under contract quickly. I hope this helps!

Bring it on... ACL Festival 2009

2009-10-01T22:26:00.000-07:00

Check out the ACL Festival Lineup here: http://2009.aclfestival.com/

Also... there will be shuttles running from Republic Park to Zilker so you can eat at my favorite, Garrido's at the bottom of the 360 or check out the 2nd Street District before hopping on over to ACL. Pretty Cool.

Click on the following links for more info... like...

Are you going? Give me feedback below on what/who was cool.

67 Days Until the $8000 Tax Credit Expires

2009-09-24T12:54:00.000-07:00

Heads-up! There are only 67 days left to capitalize on the $8000 Tax Credit for first time homebuyers and buyers who have not owned in the past three years.
Click here for more information on this

Know anyone who is thinking about buying? It is taking 30-40 days right now to close a loan due to new lending regulations.... So, tell them to get on the stick and contact me asap because time is running out.

Click here now to tell Congress to extend this tax credit! All you have to do is fill in your information and it is automatically sent to your congressional leader(s):
http://takeaction.realtoractioncenter.com/campaign/hbtc?qp_source=dotorg

Thanks to Realtor.org for the photo.

How Austin, Texas Ranks

2009-09-22T14:49:00.000-07:00

Curious to know where Austin, Texas ranks in this world?

Well, I do know it is ranked number one for music! We are the"Live Music Capital of the World" after all. I can hear live music every time I sit outside with a glass of wine on our downtown Austin balcony.

Here are some of the many rankings that seemed rather interesting to me:

ABC News ranked Austin in the top 5 places to buy and sell a home in August of 2009.
US Bureau of Labor and Statistics ranked Austin as #1 in Job Growth in June of 2009.
Austin was ranked the 9th fit city by The American College of Sports Medicine’s American Fitness Index in May of 2009.
US Census Bureau ranked Austin in March of 2009 as the second fastest-growing metropolitan area between 2007 and 2008.
Forbes.com ranked Austin #1 Best Bargain City in America in May of 2009.
Forbes.com also ranked Austin as one of the best cities for recession recovery in June of 2009.
MovieMaker Magazine ranked Austin #1 best place to live, work, and make movies in January of 2008.
MovieMaker Magazine also ranked South by Southwest Film Festival as one of the top 25 film festivals in July of 2009.
MSNBC ranked Austin 8th in the best places to live in the US in January of 2009
The Association of Foreign Investors in Real Estate ranked Austin 11th among the Most Attractive Cities for Foreign Real Estate Investors in January 2009.
Builderonline.com ranked Austin 2nd Healthiest Housing Market in 2009 in February of 2009.
Forbes Magazine listed Austin among the Top 25 Strongest Housing Markets in the Country in January of 2009.
The Mother Nature Network recognizes Austin as one of the 10 greenest cities in the country, July 2009
American Cities Business Journals ranked Austin #7 on the list of America’s Top Tech Centers in May of 2009.
Austin was ranked #1 on the list of top cities for a fresh start by Relocation.com as of May 2009.
Crazy about Art? Austin was ranked #15 on list of top destinations in the country for Art by the AmericanStyle magazine readers in April of 2009.
US News named Austin was of the top 10 places to live in June 2009.
According to WomenCo., Austin is the #1 city for a career, based on its growth and unemployment rates, average salaries, costs of living and commute time as of May 2009.

Do you know of any recent rankings I haven't listed? Shoot me an email and I'll add it to the list.

Many thanks to the following websites which helped me compile this list:
http://www.austintexas.org/, http://www.forbes.com/, http://www.moviemaker.com/, http://www.alamotitle-austin.com/,

Check out the new price on this Hyde Park home for sale

2009-09-14T20:05:00.001-07:00

Check Out the New Price on my Hyde Park Listing for Sale:

For Sale: 3BR/1BA Single Family House in Austin, TX, $415,000

Call me or shoot me an email to see:

512.694.2251

Here are some of the updates... in case you don't click on the link above...

Updated, traditional brick one-story in Hyde Park with garage~Amazingly maintained~Gorgeous hardwoods in this 3 bedroom, 1 bath classic home~New 14 SEER Trane HVAC 2005~New Hail Resistant Shingle Roof 2008~All new electrical with new breaker box 2008~Updated Kitchen with GE Appliances~New Carpet installed in August of 2009~Fresh paint inside & out in August of 2009~$15,000+ in Landscaping~Gutters~Sprinklers~Very Private, Large backyard~Lots of storage~Owner's Pride throughout~Walk to Asti, Central Market, Hancock Golf Course and more.

August Austin Housing Numbers

2009-09-12T11:07:00.000-07:00

Depending on where you are selling or looking to buy in the Austin area, the August housing numbers are important to review.

For the most part in Austin, they are good reminders to buyers as to why it is a great time to be buying.

At the same time, they are also helpful in reminding sellers that it is time to be patient and at the same time... realistic in the way sellers price their homes.

Remember that last August was pre-stock market crash, which occurred in October of 2008. And, these numbers compare only the months of August of 2008 to August of 2009. One thing to really keep in mind is that we are still in amazingly great shape compared to most parts of the country. This is because our market settled in 2001 when the tech bubble burst. So, our numbers did not continue to skyrocket up like California, Miami, and many other parts of the country.

Here is the breakdown of many of the most populated areas around Austin. If you are curious about your neighborhood, and you do not see it here, shoot me an email, and I'll send you the full chart. allison@dianedopson.com is my email.

In Central Austin, which includes Tarrytown, Deep Eddy, Clarksville, Brykerwoods, Balcones, and Highland Park, the average price of sold homes was down 22.5%, taking the average price sold from $654,611 in Austin of 2008 to $507,055 in August of 2009. On that same note, more homes sold in August of this year (26 homes) than last year (only 19 homes.) So, that is encouraging. Average Days on Market: 71 days in August 2008 and 96 days in August of 2009.

In Hyde Park and parts of Rosedale, the average price of sold homes was down only 2.9% lowering the average price sold from $387,867 in August of 2008 to $376,797 for this past August. 21 homes sold in August of 2008. 14 homes sold in August of 2009. So, we are not seeing as much movement in Hyde Park right now. That's why it might be an ideal time to buy in Hyde Park. Average Days on Market: 66 days in August 2008 and 87 days in August of 2009.

In Highland Hills, Cat Mountain, Westover Hills and Northwest Hills, the average price of sold homes was down 24.8% lowering the average price sold from $586,884 in August of 2008 to $441,444 for this past August. 26 homes sold in August of 2008. 23 homes sold in August of 2009. Average Days on Market: 81 days in August 2008 and 124 days in August of 2009. That is now a 4 month average on the market for a home in Northwest Hills.

In Westlake, the average price of sold homes was down 12.2% lowering the average price sold from $897,917 in August of 2008 to $788,370 for this past August. Only 12 homes sold in August of 2008. Whereas, 25 homes sold in August of 2009. Average Days on Market: 362 days in August 2008 and 155 days in August of 2009. Homes in the higher price range in Westlake are selling and faster than usual.

In Crestview, Allandale, Allandale North, and surrounding homes, the average price of sold homes was down only 5% lowering the average price sold from $266,773 in August of 2008 to $253,554 for this past August. 29 homes sold in August of 2008. 27 homes sold in August of 2009. Average Days on Market: 43 days in August 2008 and 76 days in August of 2009. Keep remembering that last August was before the dreaded "R" word was mentioned dropping the stock market.

In Travis Heights, Bouldin Creek, SoCo, and basically from Ben White north to Riverside and from I-35 East to Lamar, the average price of sold homes was down 14.4% lowering the average price sold from $380,505 in August of 2008 to $325,857 for this past August. 23 homes sold in August of 2008. 11 homes sold in August of 2009. Average Days on Market: 97 days in August 2008 and 64 days in August of 2009.

In Barton Hills, Zilker area, and South Lamar down to Ben White, the average price of sold homes was down only 2.2% lowering the average price sold from $352,666 in August of 2008 to $345,000 for this past August. On that same note, only 3 homes sold in August of 2008 and as well in August of 2009. Slow moving there. Average Days on Market: 92 days in August 2008 and 27 days in August of 2009.

It is not all doom and gloom though. If you live in Great Hills or the Milwood area, the numbers are looking up. Although they are different neighborhoods, their stats are grouped together. The average price of sold homes was up 6.5 % raising the average price sold from $299,587 in August of 2008 to $319,199 for this past August. 34 homes sold in August of 2008 and as well in August of 2009. We can definitely credit the $8000 first time home buyers tax credit for this increase and demand. Average Days on Market: 40 days in August 2008 and 82 days in August of 2009. Days on Market doubled in the neighborhood.

East Austin around the Mueller Development, Delwood, Windsor Park, University Hills, and French Place, the average price of sold homes was down 16.8% lowering the average price sold from $220,013 in August of 2008 to $183,010 for this past August. 28 homes sold in August of 2008 and 20 sold in August of 2009. You may be wondering why the average is so low with neighborhoods like French Place and Mueller. It is because this also includes more affordable neighborhoods like University Hills near Reagan High School. Average Days on Market: 58 days in August 2008 and 62 days in August of 2009.

North Central Austin around Quail Creek, North Lamar, Rutland Village, Walnut Creek, Gracy Farms, the average price of sold homes was down 3.6% lowering the average price sold from $158,931 in August of 2008 to $153,257 for this past August. 27 homes sold in August of 2008. 22 homes sold in August of 2009. Average Days on Market: 37 days in August 2008 and 34 days in August of 2009. These homes are going under contract fast!

Again, feel free to email me for the full chart. It's allison@dianedopson.com

An Affordable Way to Create Your Brand...

2009-09-10T16:01:00.001-07:00

Are you looking to create a branding strategy for yourself? Searching for marketing ideas?

design entry for Spidernotes.com created by 'Alexut' from Romania on www.crowdspring.com

A great friend just turned me onto this amazing website that allows advertising specialists and novices alike to compete for your branding rights. http://www.crowdspring.com/how-it-works

Their page says:

1. Post a creative project.

2.Watch the world contribute ideas.

3. Choose the one you like.

Click here for an example and you can even vote for the already designed options on the example up until September 24th.

My friend ponied up a little over $400 to have several people work to design her brand for her company. This is an incredibly reasonable price... if you have ever paid for something like this. But, you can choose your own price. A small fee goes to the web company. The rest goes as a prize of sorts to the designer... thus, the incentive for the designers to vie for your business.

The best news is that before you choose the designer you would like to work with, you can email back and forth with him/her to tweak the designer's idea to be more in line how you would like it. And, if you do not have 25 people submit ideas... the webpage will return your prize money and fee you paid up front. You set the deadline. And, according to the website, the average project gets over 80 designer options for you to choose from.

In the end, you have your brand however you would like it (logo, watermark, etc.) and you obtain all rights to your brand that the designer created. Pretty cool....

Curious about crime in your neighborhood?

2009-09-09T11:38:00.000-07:00

I just ran across a cool website for crime statistics for Austin. Once you figure it out... it is pretty amazing. It will show you the type of report that was made (DWI, Theft of a Vehicle, etc.) and when you click on the report number, it will show you who, what, when, where, etc....

www.krimelabb.com

You can also follow them on twitter: twitter.com/krimelabb

Deep Fried Peaches? Bring on the State Fair of Texas.

2009-09-08T10:57:00.001-07:00

So, this is completely not related to Real Estate. But, I have to share....

Fernie's Deep Fried Peaches & Cream takes Big Tex Choice Awards' taste prize News for Dallas, Texas Dallas Morning News Local News: Statefair

Photo by: COURTNEY PERRY/DMN

What's a Homestead Exemption in Texas and do I have to Pay for It?

2009-09-02T19:36:00.000-07:00

I hear these questions often when I am with one of my home buyers. So, I thought I would try to help clear up a few questions... if you are interested.

The most common question I hear is, "how much does it cost?"

The answer is nothing! It is free to file your homestead exemption. There are several companies out there that will send you a very official-looking form after you close on your new home. (They get your information when they check county records for newly, publicly recorded deeds.) The form will say that it requires, for example, a $35 or $55 fee or whatever amount the sender requests. Many people mistakenly think that they are required to pay this fee because these companies make it look so official.

The next question I hear is, "when can I apply for the exemption?"

You can apply for it starting on the following January 1st after you purchased the home (if you are not busy eating black eyed peas and recovering from New Year's Eve.) In fact, I send all of my clients the form they need to apply for the exemption... and I think many other Realtors do as well. You have from January 1st of the following year after you purchased until April 30th.

So, now you are probably wondering about who qualifies?

Any home owner who is making that property their principal residence may apply for the homestead exemption. Also, the home owner must be an individual. For instance, it cannot be a company purchasing a home where the CEO might be planning to live, even if the CEO owns that company.

Why would I really care about applying for this?

Two main reasons. The first one to remember is that it will save you money because the tax man (in effect) lowers their perceived value of your property. It varies depending on where you live. But, here is a good example. If your home is valued at $1,000,000, and you qualify for a $15,000 tax exemption, you would only pay taxes on the valued amount of $985,000.

The other main reason is that if you are being forced to sell off your property to a creditor, the creditor will not be able to take your home since it is your homestead.

There are many different exemptions you may qualify for. So, be sure to check on your local county's tax website. A good resource in the Austin area is: traviscountytax.org and traviscad.org

Want to See the Most Expensive Home Currently Listed in Austin?

2009-08-31T21:00:00.000-07:00

Curious to know what it would run you to purchase the most expensive listing in Austin? This cool home in West Austin just off Quinlan Park Road will run you a sweet $13,490,000.

The gated estate on ten acres boasts nine bedrooms, twelve baths, nine living rooms, 15,869 square feet with Lake Austin waterfront, a guest house, a boat house with 2 slips, a negative edge pool, a swim up bar, a summer kitchen, and... did I mention a helipad?

Listing courtesy of Laura Duggan and Patrick Birdsong with West Austin Properties.

Ready to see end of August Austin Housing Numbers

2009-08-31T18:45:00.000-07:00

It is very interesting to see that we currently have a little over 11,300 homes on the market in the Austin area. That is 10% less that this same time last year, which is a good sign for the Austin market. (And, that includes Round Rock, Cedar Park, and even down south like Dripping Springs and Wimberley.) There are still some good deals out there, depending on your price range. Homes in the $300,000-$600,000 seem like they are sitting a little bit longer. Many also seem to be adjusting their pricing for condition.

For instance, in Central Austin (Tarrytown, Brykerwoods, and Hyde Park) homes are averaging today (8/31/09) at:

104 days on the market for homes that are for sale (not under contract)

88-99 days for pendings

61 days for solds

However, if you are looking either in North or South Austin, about 15 minutes from downtown, in the $100,000-$200,000 price range... it is more of a seller's market, with the average days on market in North Austin, Areas 2N and N (if you are familiar with the MLS map) being just:

69 days for actives

46 days for pendings

20 days for pending taking backups

42 days on market for solds

In South Austin (Areas 10N and 10S), average days on market are:

49 for actives

26-29 days for 96 (wow) pendings/pendings taking backups

49 days for the solds

With all of the people working to take advantage of the $8000 first time home buyer's credit, those homes (that are in great shape for the most part and are priced right) are being gobbled up rather quickly in both South and North Austin. So, be prepared to jump on those homes, if they look like a good option for you. I am eager to review the August numbers. Remember that you have to close and fund on the house by December 1st, 2009, to take advantage of the first time homebuyer's tax credit.

At my Open House....

2009-08-30T10:26:00.001-07:00

Come entertain me at my open house. I'll be here until 2pm today in Hyde Park.

3819 Avenue F

Austin, Texas 78751

http://postlets.com/res/2637951

Almost all of the Sage Condos Sold at Auction

2009-08-24T15:24:00.000-07:00

Last Saturday, August 22nd, 2009, the remaining units of the Sage Condominiums (23 of the 32 units), originally developed by Avera and located in the 1700 block of South Lamar, were sold at Auction by JP King. All but five of the twenty three condos up for auction supposedly sold with prices ranging from around $150,000 to $250,000. Apparently, all 23 received bids. But, five were not accepted by the seller.

This now begs the question... will this be a staying trend with the developers who have investors hot on their heels to sell, sell, sell? Also, I'm curious to see what will happen with many of the Bel Air Condos that did receive bids during their auction... but were later rejected by the sellers. Thoughts?

Looking for a home in Wimberley?

2009-08-24T15:19:00.000-07:00

This is an amazing retreat of a home in Wimberley that is for sale.

Take a look:

http://www.postlets.com/res/2401189

Curious about First Time Homebuyer's Tax Credit?

2009-08-20T23:13:00.000-07:00

A lot of my clients have been asking about the details concerning the First Time Homebuyer's Tax Credit that is being offered by the Federal Government. There are several important things to know:

1) It's not just for true first time home buyers. The government considers a "First Time Home Buyer" to be anyone who has not owned a principal residence in any of the past three years before this purchase.

(By the way, some clients have asked... what if I just got married and my husband has owned a home? Can we sell his and take advantage of this? Sorry! You would not qualify in this case. Neither one of you could have owned in the past three years.)

2) There are income limits. If you make more than $75,000 as an individual or $150,000 as a married couple... the credit is reduced and even brought down to zero, based on your income level. Consult your CPA or financial advisor.

3) You must purchase (meaning closed and funded) prior to December 1st, 2009. You cannot claim this if you bought before January 1st or if you only have it "under contract."

The coolest thing about this tax credit is that you do not have to pay it back like in previous years. (It used to basically be an interest-free loan from Uncle Sam.) Now, it is, as they call it, a "dollar-for-dollar" credit. So, if you owed the IRS $1000 in taxes, they would return $7000. ($8000 Tax Credit - what you owed the IRS.)

You can find some great information on this at: http://www.federalhousingtaxcredit.com/2009/faq.php#1

If you are curious as to how you can save on remodels, look here:
http://energytaxcredits.blogspot.com/

And, as I mentioned above, I definitely suggest that you check with your CPA or financial advisor to see how this will best apply to you.

Check out this cool bungalow in Hyde Park for $425,000

2009-08-20T23:06:00.001-07:00

Click here to see....

For Sale: 3BR/1BA Single Family House in Austin, TX, $425,000