Feb

27

Accurate and Timely Real Estate Data In Austin

Posted by garreth under Uncategorized

Buyer: “We’re going to drive by this home we saw on Yahoo! Real Estate. It looks like a great deal.”
Me: “OK, let me see what I can find out about it. Send me the link.”

Yahoo Real Estate

This is how the conversation started. I took a look at the link to the home in Maple Run. Interesting, I haven’t seen this property listed for several years, and $134,900 would be a fantastic price for the neighborhood. So I noted the MLS number and looked it up. The listing expired in 2005 with the home unsold.

Then, I checked on the address. The home had been listed and sold in 2006 at a different price. 7% higher than the one advertised on Yahoo! Real Estate. Pretty poor information from Yahoo, but at least I saved the caller a wasted drive through the neighborhood.

Just last night another client had been forwarded some homes on Trulia, and had sent them onto me all excited. Of the seven he sent, five had sold over one month ago. So Trulia is tardy too. And don’t get me started on Zguesstimates – I’ve blogged about Zillow’s wildly innaccurate pricing estimates in the past.

Search Austin HomesOver 87% of people now start their home searches on the internet according to the 2008 study from the National Association of Realtors ®. Maybe I’m a bit of a statistics and numbers freak. Having accurate and timely information is key to make informed decisions in my opinion.

That’s why I give people access to timely data on available homes, and on neighborhoods more broadly. Click on the image to the right if you want to search available Austin real estate – home data that is updated daily, not sporadically or annually.

Garreth Wilcock is an Austin Realtor ® who helps people with timely information on available homes in Austin, and can give you a FREE market analysis of your Austin neighborhood

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Here™s John Schutze™s weekend update on what™s happening with local mortgage rates.

Weekend Rate Outlook by John Schutze

“Rates inched up this week .25%.

Frankly the economic news this week was pretty negative. The stock market dropped to levels not seen since the year 1997, Consumer Confidence fell to the lowest level since 1967, and several large companies including GM and Dell posted record 4th quarter losses.

This continued negative economic news has investors in a holding pattern as they try to determine if the various recovery efforts by the Fed will be able to turn the US economy around.

Rates may not be in the mid-to-low 4.0% range anymore but we have to remind ourselves that these are still historically very very low rates and 2009 is the year to buy a home!”

John™s mortgage blog is full of useful insights into the mortgage industry and contains contact details for more personal advice.Garreth Wilcock is an Austin real estate agent. You can search available homes in Austin, Texas at his website or call 512 694 8873 to discuss your needs.

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Feb

27

$8000 Tax Credit – How Do I Get It?

Posted by garreth under Uncategorized

8000 Tax credit formIf you’re feeling stimulated and want to get your first time home buyers’ $8000 tax credit, then you’ll need the right form from the IRS.

Form 5405 shown on the left can be used for 2008 or 2009 tax returns.

Whether the tax credit will stimulate the housing market, or the “just bought my first house and need some furniture” market remains to be seen – I’ve talked about the possible impact of the tax credit on the Austin housing market here.

One thing is for sure if you meet the following test:

  • You bought a home between 1/1/2009 and 11/30/2009
  • You haven’t owned a home before (in the preceding three years)
  • You earn less than $150,000 if married filing jointly or $75,000 if single
  • Your home cost more than $80,000

then you could be eligible for an $8,000 gift from Uncle Sam. If the home was less than $80,000 then the maximum you are eligible for is 10% of the purchase price.

Garreth Wilcock is an Austin Realtor ® and EcoBroker ® who helps first time buyers find homes in Austin, and can give you a FREE market analysis of an Austin neighborhood you are interested in.

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Feb

26

Ranch-Style Homes in Austin, TX

Posted by garreth under Uncategorized

Austin RanchRanches in Austin, Texas aren’t all Longhorns and chaps. Ranch-style homes were a popular choice in the 1950s,1960s and 1970s in Austin’s suburbs like University Hills. Why are first time homebuyers, young families and baby boomers drawn to ranch-style homes? Let’s take a look.

Common features of the ranch house style made them a big hit back in the day (accounting for 9 out of 10 new homes built in the 1950s), and they are seeing a resurgence in popularity for their versatility:

  • Often single story - easy for families with children and less mobile folk to get around. Baby boomers keen to avoid stairs in their homes can score with a rancher.
  • Open floor plans – a backlash against the compartmentalized homes that preceded the ranch era. Rooms often opened to each other, and that makes them a hit. I would say about 1 in 10 of the buyers I work with ask for a less open floorplan.
  • Attached garage space - this was partly in response to the integration of the automobile into American life after the World War II. Attached garages appeal for additional storage that can be easily accessed.
  • Vaulted ceilings – these often add to a the feeling of space and light.
  • Long low rooves - this makes for easier maintenance – and less ladders. They are also a good target for rainwater barrel installation.
  • Large windows – this allows for more light. Large, single pane windows are a source of heat gain in the Austin summer. Higher utility bills present one possible drawback to ranch-style living, without low-E double pane windows.
  • Sliding glass doors opening to a patio - land was relatively cheap and abundant in the middle of last century, and sliding doors gave easy access to the larger yards, and covered patios.
  • Unpretentious character - I have to admit I’m lost on this one! Ranch-style homes typically had fewer exterior decorative embellishments, and some claim that this makes them more approachable.

If I had to put my finger on it, I’d say that first time home-buyers, young families and baby boomers appreciate the great pricing you can get on an entry level home in somewhere like University Hills.

Garreth Wilcock is an Austin real estate agent who specializes in Central and East Austin homes. You can search homes in University Hills at his website.

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The City of Austin has some great map tools for the public to use. One of them allows you to view flood plain, zoning and other geographic information on an interactive map.

If you’re thinking of buying a home and are curious about the zoning of the property, or whether the vacant lot next door is a prime target for a condo development, you can do a little investigation. The same goes for investors who want to know what they can build on a lot.

If you go to the City Of Austin Development Map Viewer, you will be presented with a map of Austin. You could read the instructions on how to use the map viewer, or use the shortcut below to find out zoning information.

What Zoning is that Austin property?

To return the zoning of a given TCAD parcel, follow the steps below. To find out what can be built in a particular zone, check out the Permitted Use Chart, and check the zoning districts chart.

Austin Zoning

This gets you to the part of the map you want to see. You can use the Zoom tool on the left hand side to get a clearer picture of the lot boundaries which come in the default view.

Zoning Austin

After you identify the zoning, it appears in the middle of the screen at the bottom, in this case SF-3-NP, which is single family 3 with a neighborhood plan.

If you think that the public GIS viewer shows plenty of Austin development information, wait until you see the one that the City uses. If you have questions about zoning, you can drop by their offices at 505 Barton Springs Road between 9am and 1pm each weekday.

Garreth Wilcock is an Austin EcoBroker ® and Realtor ®. You can search available homes in Austin, Texas at his website or call 512 694 8873 to discuss your needs.

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How not to sell your Austin home in three easy steps.

  1. Make it hard to get access to the home. Don’t let your Realtor put a lockbox on the home or even better, don’t put the key in the lockbox when they do leave it there.
  2. When someone finally figures out how to gain access to view your home, make sure you don’t leave. When a buyer comes in with their agent, follow them around, turning on light switches for them, and point out things you like about your home.
  3. When the agent is trying to talk to the potential buyer about whether the home would fit with their lifestyle, please be sure to stand around and listen attentively to their answers. That will make them feel really awkward.

All of these things happened while showing some clients around a home in Milwood today.

It made the buyers feel very uncomfortable. One thing that someone buying a home will do is to picture their own life there in the future. It’s hard to do that when the current home owner’s presence is so imposing.

Garreth Wilcock is an Austin EcoBroker ® , and provides a free third party staging consultation to qualifying sellers. Search available East and Central Austin Homes, or get in touch for a FREE consultation on the value of your Austin home.

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Feb

24

Mueller Airport – Who Moved My Runway?

Posted by garreth under Uncategorized

ROMA – the design group working with the Mueller developer Catellus on the old airport in East Austin – are holding another public meeting to discuss some changes to the original plan.

Mueller ChangesThe meeting is this Sunday, March 1st at Mueller Central from 2pm-3:30pm. Mueller Central is easily identified as the only permanent building on Mueller Blvd, next to the Browning Hangar.

The meeting is an informal discussion of the Mueller Master Plan and the Planned Unit Development (PUD). The latest PUD amendments can be found on the MuellerAustinOnline site.

The three main thrusts of the changes in the PUD amendment are:

  • Less parking, more walking in and around the proposed town center at Mueller with higher density housing and more transit friendly design
  • Higher density housing to promote affordability – family friendly homes with smaller lots.
  • Move the grocery store from the Town Center to the Market District, and put the surface parking out there near Berkman and 51st

If PUDs and Master Plans don’t mean all that much to you, it’s still worth a trip to Mueller Central to see the illustrative model and get a feel for what’s changing.

Garreth Wilcock is a Realtor ® specializing in new homes at Mueller. Get in touch to find out more about moving to the Mueller Development in Austin   – 512 694 8873.

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Feb

20

Why Selling Your Home is Like Kickboxing

Posted by garreth under Uncategorized

AUstin home sellingI took my first kickboxing class today, and sweated, punched and kicked my way through an hour of training. Afterwards it occurred to me that there are many ways in which selling a home reminds me of kickboxing.

Preparation is everything.   On fight night on TV, the fighter shows up looking buff and ready to fight. In the real world the fighter is training six days a week to get in shape for several months or years. The preparation that you don’t see determines the performance on camera – hence the saying “Train hard, fight easy”.

It’s the same with selling a home. A home seller has to rigorously prepare their home for sale. Whether it’s painting, cleaning, staging or fixing things found on the pre-inspection report, there’s a lot of work to be done. Before the cameras come out and the audience of buyers gets to see it.

Don’t rely on armchair experts. I watched many HGTV shows while feeding my newborn daughter and I can assure you that selling a home isn’t as easy as it looks. In 20 minutes on HGTV, a few presenters stage and prepare a home for a budget of $2,000. (Ever wondered why they don’t count labor costs for the crew? Don’t get me started)

In reality, there’s more to it than showing up with a few cans of paint, some open house signs and deciding which of the offers to accept. Avidly watching Ultimate Fighting Championships on TV doesn’t make someone an experienced fighter. Watching every episode of Designed to Sell doesn’t make you an expert stager. Get professional help!

Real Estate MatchYou’ve got to have someone good in your corner. You’ve seen the fighter listening avidly to the advice from his corner during the match. If the fighter doesn’t win in the first round, their coach tells them how to adapt. What new angles to explore.

It’s the same with selling a home if you haven’t got any offers in the first month. Your agent looks at what the market is doing and then gives you things to change, different things to do. If you listen, you won’t have to go the distance. You listen to your agent. Your agent listens to the market.

When you get tired your technique goes out the window Today’s boxing drills were each composed of 10 punches or less. As the class ate away at my stamina, my technique went out of the window. I’d get the sequence wrong, or throw too few punches all together. And sometimes miss.

If your home has been on the market for a few months and it hasn’t sold, it might be hard to maintain the same level of intensity that you had when it first went on the market. A seller tires of cleaning the home to the necessary standards, tires of making the beds every day. They let their guard down and their homes can start to look tired.

You wouldn’t challenge a professional to a fight I’m always amazed when I see For Sale By Owner signs in people’s yards. In 2008 I helped five sellers who had failed to sell their homes without a real estate agent. I sold each of their homes, and met or exceeded their goals for the sale.

Most people wouldn’t step into a ring and try to fight a professional kickboxer, but people still try to sell their homes themselves. The majority of buyers have a professional representing them, so sellers would do well to get representation too.

Selling a home is like kickboxing in that it requires more preparation than most people think, is highly competitive and requires good coaching, and advice.

Garreth Wilcock is an real estate agent in Texas who knows a lot more about selling homes in Austin than he does about kickboxing anywhere. Find out how much your home is worth with a FREE valuation.

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Here’s John Schutze’s weekend update on what’s happening with mortgage rates here in Austin. John is a loan officer at Bank of America.

Weekend Rate Outlook by John Schutze

“Rates remain low this week thanks to a continued drop in stock prices. When the stock market goes down it generally improves mortgage rates as investors move money from stocks to bonds (including mortgage bonds).

In other news, the Consumer Price Index rose 0.3% in January. This met market expectations which is good news because mortgage rates generally rise when inflation fears are high.

Check out John™s mortgage blog, or call him on (512) 775-6820 to get answers to your Austin mortgage questions.

Garreth Wilcock is an Austin EcoBroker ® and Realtor ®. You can search available homes in Austin, Texas at his website or call 512 694 8873 to discuss your needs.

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Feb

19

Mueller Garden Courts – How To Buy a 5 Star Green Home

Posted by garreth under Uncategorized

There are now two Garden Courts at the site of the old Robert Mueller Airport. It’s extremely hard to buy one of the homes there. I’ll tell you why.

Muller Garden Court

The homes sell very quickly, and there are only 12 homes in each of the two courtyards, one of which has been fully occupied for almost a year. The homes are in two rows of six facing a central garden.

On one side are Muskin Homes, and on the opposing team are Saldana Homes. Right now in terms of sales, the score is 11:9, but I expect a draw in the near future.

While the copy about the Garden Courts on the MuellerAustin website might sound contrived: “[Each Garden Court] features 12 charming homes arranged around a central courtyard, providing an instant sense of community” it’s also very accurate. From movie nights to kids’ splash nights to Superbowl watching parties, the first garden court has been in the middle of it all.

People buy a garden court home for a number of reasons.

  • Built in corrale for children / pets / partygoers
  • 5 star green homes in the Austin Energy Green Building Program make for lower utility bills
  • Access to more (shared) yard with even less maintenance than a yard home
  • And maybe that instant sense of community you read about in the brochures

When I last checked two days ago, the Muskin model had been purchased, which leaves just a single Muskin Garden Court home in this phase – the Unit D floorplan at 4224 Threadgill.

Saldana Homes have sold three of their six homes in the second garden court (they have one on the ground, and another two being started this week).

If you look at all of the available listed homes at Mueller in the $300,000 -$400,000 range, you can see 4 garden court homes are in relatively short supply.

Garreth Wilcock is a real estate agent living and working at the Mueller Development. Search available homes at the Mueller Development, or contact him to set up a private tour.

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