How Does Austin Rank Among US Cities?

March 24, 2008 By Archive Leave a Comment

On the Austin Real Estate Headlines Page, I have bee keeping careful watch of how Austin ranks in news stories, polls, and websites. This is really just for fun and based on subjective opinions, but it is very interesting to look at. Plus, those of us who live in Austin know it is deserving of many awards top 10 lists. If I have missed any rankings of this great city, email me or comment!

Austin’s Rankings

Filed Under: Uncategorized Tagged With: Austin, best city for jobs, dating, great place to live, great places to work, healtiest US city, least stressful city, live, Money, ranking, smartest city, texas, where to relocate

Another way to invest in Austin real estate

March 13, 2008 By Archive 2 Comments

When times are tough, it’s time to think outside of the box. The same is true for investing. While it is difficult (if not impossible) to find a lucrative rental property in central Austin right now, and the idea of cashing out of an investment may seem like a poor idea until sales pick back up. It’s time for some creativity in investing.

One less-known way to invest in Austin real estate is to invest with a builder. Basically, you purchase a lot and/or put the construction note in your name. Then the builder does all the work. In this climate, builders need capital while they sit on lot inventory and often even large spec home inventory. The profit split can be amazing and you can just sit back and wait for the home to be sold (aka payday). Of course, you still need to do your research. Builders in Austin are a dime a dozen these days — everyone wanted to get in on the boom in 2002 and 2006. See how long a builder has been in business and ask about success other investors have had. It’s a good idea to see if they will let you contact any previous investors as a reference.

Want more information? I’d be glad to point you in the right direction, so feel free to email me. After growing up in a real estate family in Austin, I’ve learned a few tricks myself.

Builders like Corias Homes, Inc. currently have investment opportunities available and have stood the test of time and work with only the best lots. Currently, Corias has a lot inventory available for investors:

8900 Calera Drive in Barton Creek just off the Fazio Canyon’s Golf Course
9407 Angelwylde Drive off Patterson Road in Westlake, a 7 acre estate lot
3107 Westlake Drive is a new 2 or 3 lot subdivision with Lake Austin Waterfront
A 1 acre “interior Westlake” property will soon be available, email for details

The process is a simple one for the right investors, someone who can sit back and relax while their investment grows with the structure. I am happy to help anyone who would like more information as I have experience in this process!

Aria Schoenfelt
ariakristen@gmail.com
(512) 771-1776

Filed Under: Uncategorized Tagged With: Austin, Austin Real Estate, barton creek, builders, calera drive, finances, Investing, lake austin, Money, westlake

Pay your mortgage down early

March 13, 2008 By Archive Leave a Comment

Some months it’s hard to even make the basic mortgage payment, but smart homeowners are learning that paying even just a bit of extra principal each month can lead to big rewards.

In a recent Scott Burns Commentary, a reader wrote in for advice on a loan he had already been paying down for three years, saving 17 years of interest payments. Yes, it actually works! Check out The Motley Fool for calculators that can help you with your plans.

Don’t give up! This is the advice Mr. Burns gives his reader. Continue paying down that mortgage, and you will have more money for paying off other debts and your retirement later.

Your monthly payment isn’t set in stone. Even paying an additional $100 per month can greatly reduce the interest you spend and how long you have to make those monthly payments.

Good luck!

Filed Under: Uncategorized Tagged With: Money, Mortgages, Real Estate

Austin Tops Forbe’s Fastest Growing Metro’s List

March 4, 2008 By Archive 1 Comment

austin real estate, forbes, where to buy, top cities Austin has been making national headlines lately, and good ones at that. While we hear that the real estate market nation-wide is in a slump, we also keep hearing that Austin’s economy is still strong (even if it is no longer booming). It should be no surprise, then that Austin topped Forbe’s list for big metros.

Check it out!

Of course, if one looks at economic growth in the country’s largest 100 metros, the usual suspects jump to the top of the list. With an estimated 32% GMP growth from 2007-2012, Austin, Texas, is the winner for big metros. Atlanta, Seattle, Orlando, Houston and San Jose, Calif., also appear high on the list. What do they all have in common? They’re tech hubs with proximity to universities and a healthy increase in population. Austin’s population, for example, is expected to increase by nearly 15% by 2012, according to Moody’s Economy.com forecasts.

Once again, Austinites, you live in one of the top cities in the nation. Austin is a great place to live, work, make movies, listen to music, and buy real estate!

Filed Under: Uncategorized Tagged With: Austin, Austin Real Estate, Development, forbes, GMP, Hot Market, Housing, Market, Money, Real Estate, Statistics, texas, top growing metros

Homestead Exemption Taxes on Over 65

February 20, 2008 By Archive 1 Comment

Don’t forget that there is more to vote for this year than a president! Politics aside, Texans over 65 years of age could use your support.

In the May election, there will be an amendment for your ballot to correct an error made previously in 2005 when property taxes were reduced by 1/3 for the 2006 and 2007 tax years (don’t forget, property values went up city-wide, so net taxes often went up). Don’t blame this on the elderly, who are the victims of the error attached to this bill.

The State caps property taxes for those who are age 65 or older, or who are disabled. They did not receive the same reduction that the rest of us received when the tax cut for schools passed in 2005.

Early voting will take place April 30 – May 5 from 7 am to 7 pm;
May 6 from noon to 6 pm and May 7 – May 8 from 7 am to 7 pm.

Filed Under: Uncategorized Tagged With: Austin, Austin Real Estate, Housing, Money

Austin’s market is picking up

February 20, 2008 By Archive 1 Comment

AUSTIN’S REAL ESTATE MARKET UPDATE

My last post was on the 11th, where have I been? Busy, busy, busy. All of a sudden earlier this month, the phones started ringing again and emails where flying in faster than I could answer them. It sounds like the word is out that now is indeed a good time to buy. Offers are coming in to sellers and although they are still lower than expected, sellers aren’t feeling the desperation from November, December and January. Things are looking up.

If you are looking to buy, you still have a great chance. Just don’t insult sellers with unreasonable offers because showing activity is way up. Leave negotiating to the professionals. Listen to your Realtor’s advice in times like these because the little things are still important.

If you are looking to sell, get your house ready! Search this blog as well as the headlines section for tips on how to get your house ready and consult with a professional. This spring should bring plenty of activity, but you still want your house to WOW buyers with the still overwhelming inventory still available. You can sell in this market, but you still can’t expect to have buyers knocking down your door unless your house stands above the rest.

As always, if you would like any more information, that is my job! Feel free to call me at (512) 771-1776 or email.

Keeping you up to date,

Aria Schoenfelt McIntosh
liveaustinrealestate.com

Filed Under: Uncategorized Tagged With: Austin, Austin Real Estate, Hot Market, Housing, Market, market update, Money, Real Estate

2007 In Real Estate – Austin Market Update

February 11, 2008 By Archive Leave a Comment

Month	# Sales	Dollar Volume	Avg. Price	# Listings	Months of Inventory
Dec-07	1,782	446,231,177	250,300	9,866	4.2
Nov-07	1,758	431,231,177	245,300	9,599	4.1
Oct-07	1,878	450,802,898	240,000	11,028	4.6
Sep-07	1,974	492,426,244	249,500	11,379	4.7
Aug-07	2,793	713,676,456	255,500	11,172	4.5
Jul-07	2,954	742,533,546	251,400	10,757	4.3
Jun-07	3,080	781,567,622	253,800	10,351	4.1
May-07	3,002	737,963,982	245,800	9,987	3.9
Apr-07	2,562	626,175,374	244,400	9,385	3.7
Mar-07	2,589	625,191,435	241,500	8,696	3.5
Feb-07	1,902	443,541,954	233,200	7,991	3.2
Jan-07	1,635	389,728,467	238,400	7,784	3.1

So what was the real story with Austin’s Real Estate Market? Is the bottom really going to fall out? And why hasn’t it yet? I feel like a broken record sometimes, but the falling prices we keep hearing about on the news are in totally different markets in the east and west coasts. In these areas, prices flew up by 200, 400, and even 600%. So it’s really no surprise that home prices have fallen in these markets. Here in Austin, we’ve stayed smart as always. Prices consistently rise, on average, 4-6% each year. What we’re seeing in Austin right now is a slow-down, and after the huge boom we saw that peaked in 2006, it really shouldn’t be a surprise. Prices were still climbing steadily in this period, but there were many, many more new homes built to meet a rising demand, and do-it-yourself HDTV fans flocked to invest in their own “flip” projects. At some point in early 2007, supply met demand, but some were still creating supply. And projects begun late in 2006 still had to be finished before being placed on the market. Some areas of Austin saw this more than others, and in particular, Central Austin, East Austin, and South Austin saw the biggest booms. Suburbs saw more production, but not on the scale of these urban areas of Austin. Now, we’re waiting for demand to catch up with supply. We are currently in a buyer’s market, but not on the gloom and doom scale of other parts of the country (or even Austin in previous recessions). If I was thinking of buying a home, I would buy now while deals are good, sellers are willing to negotiate, and the market has some catching up to do. If I were a seller in this market, I would be ready to be patient, and prep my house to it’s absolute peak, hiring professionals to make sure that everything is at it’s absolute best — the best way to ensure that when a house does sell in your neighborhood, it’s yours.

I am still confident that there is no reason to panic. Austin has grown to the point that it can withstand most anything you can throw at it. We have many, many different industries to sustain us. There are advantages to out-growing the medium-city way of life and I believe we are seeing it now. New construction has slowed but is still strong. The best builders out there will survive and others will move to a different industry. This is a strong city now!

Keeping you up-to-date,

Aria Schoenfelt McIntosh
http://liveaustinrealestate.com
(512) 771-1776

Filed Under: Uncategorized Tagged With: Austin, Austin Real Estate, Building, Development, Economy, Hot Market, Housing, Market, market update, Money, neighborhoods, Real Estate, realtor, sales, Statistics

Your Financial Figures

November 29, 2007 By Archive Leave a Comment

Have you ever wanted to know how your financial decisions effect your future? Put it in perspective with financial calculators found at fool.com. Explore your options when looking at real estate, cars, credit cards, and savings.

21 – Years to build a $1 million nest egg saving $20,000 each year in a tax-deferred retirement account earning 8%. It takes 3 additional years if using a taxable account.

9.25 - Years to pay off a $10,000 credit card debt at 12% by paying off $150 each month.

$19,850 – Total after 9 years of saving $150 per month in a tax-deferred retirement account earning 8%.

Some of Fool.com’s Real Estate Calculators:

Filed Under: Uncategorized Tagged With: Austin Real Estate, Money

Austin Real Estate Market Update

October 9, 2007 By Archive Leave a Comment

The Austin Real Estate Market remains healthy despite the slow-down caused by nervous would-be buyers and investors. The gloom and doom in the news spilling over from other markets does seem to have made for more cautious real estate consumers, but obviously some do understand that real estate markets are local and that the ill symptoms of markets elsewhere were caused by super-booms that Austin did not see.

Austin continues to top investor’s charts as a place to buy because as weird as Austin may be, its real estate market has always remained consistent. Many areas are seeing homes sit on the market longer, but prices continue to rise. The caution caused by the media has surprisingly done something wonderful for Austin: it has slowed or even halted the boom of 2006, which in the long run can prevent any potential crash.

Markets within Austin are localized as well. While area 4 in central Austin remains a hot spot, but all of it’s neighbors are so lucky. Such as been the fate of area 6 in south Austin. Area 6 has a huge inventory compared to this time last year but sales have fallen drastically. Some of this is last year’s boom settling, but the surge of investors and flippers last year has changed this area. Although central Austin saw a similar flock of interest, low-priced properties were already hard to come by.

The boom in new construction has created a buyer’s market for both speculative new homes and the homes being sold by those moving into new homes. Our new home inventory is very high so it’s a good time to buy in the new home market. New incentives are popping up to fill these homes to if you’re in the market, don’t overlook a new home. It may not have the do-it-yourself-as-seen-on-HGTV glamor, but warranties and technology should sway any ambitious home buyer to do-it-yourself decorating instead.

So when you are ready to buy or sell, check with the experts in your area of Austin. For a monthly analysis of 8 of Austin’s most sought-after areas, request a copy of my eNewsletter. I love numbers because of their extremely logical approach and I watch them closely.

Take care and happy house-hunting!

Today’s Area Spotlight: 1B in North-Central Austin

Keep in mind that the area boundaries have changed for this area! Last September, there were 80 new listings and listings were sitting an average of 51 days on the market. 70 listings sold this time last year at an average price of $437,187. This year, 78 new listings were available in September and 23 sold at an average price of $616,781 with homes sitting on the market an average of 83 days. Area 1B is a perfect example of Austin’s changing market with prices on the rise and sales taking longer.

Filed Under: Uncategorized Tagged With: Austin, Market, Money, Real Estate, Statistics

It’s Raining in the USA

October 1, 2007 By Archive 1 Comment

It’s raining in the USA, right now! Probably… but is it raining where you are? Saying “the Real Estate Market is crashing” without reference to a specific market is really an overly-broad statement. I LOVE the weather analogy to our Real Estate Market because like the weather, Real Estate truly is local. Why would you ask a weather forecaster in Phoenix about the weather in New York? THIS is why we have Real Estate professionals!!

So when you ask “Are Prices Falling? Is The Market Crashing?” you really need to be asking these questions locally — just like you would if you needed to know “Will it rain this week?”.

My market is Austin, Texas. It was and always will be. I am one of the new native Austinites (actually born and raised in Austin) and literally grew up on residential construction sites overhearing meetings about things like the crash of the 1980′s — which did effect Austin. It’s no mistake that I now have people from all walks of life asking me about the ‘crashing market’ that is holding strong in Austin.

In fact, Austin, along with Dallas and Houston, is mentioned in the November 2007 issue of Business 2.0 as one of the cities to watch go get into the “Real Estate Bounce-Back.” Of course, Austin has nothing to bounce back from except for a national media panic. Why should we all panic because Donald Trump’s Palm Beach estate hasn’t tripled in price?

The markets to watch are the markets which continued to appreciate at a steady pace (4-6% a year) while the east and west coast markets you’ve been reading about made the rich richer artificially appreciating 400-600%.

So when you wonder why Realtors get paid, remember the good ones are watching and analyzing all of these changes each day. I am happy to answer questions and provide answers in the Austin market, and recommend finding a good agent in your area to answer your concerns.

Aria McIntosh
Builder, Realtor®, e-Pro
Corias Homes, Inc. & BridgeOne Properties
(512) 771-1776
aria@ariamcintosh.com
ariamcintosh.com
coriashomes.com
bridgeoneproperties.com

Filed Under: Uncategorized Tagged With: Austin, Market, Money, Real Estate