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Articles from Austin Real Estate Blog

Minesweeper the Movie 2007-10-09 17:30:27 Ok so for anyone who has been waiting for a client to call back and has started doing something like wasting time playing minesweeper. They are finally making a movie about it. Not wasting time waiting for someone to call but minesweeper. And, ok, not a real movie but a fake trailer. Ki is a realtor with Escapeso Austin Real Estate. ...

The Decision to Sell Your Home 2007-10-09 07:38:54 Change is the norm in today’s busy life and in our real estate market in Austin, Texas change can be fast, unexpected, and daunting. So, what happens when an unplanned or a strategic change requires your reconsideration of your current location of your current residence? How do you deal with the potential to move to another city or neighborhood? What should you do to divest of your current real estate in an equitable manner? What are the considerations necessary to sell your current home, investment property or condo? If relocation is a function of a company transfer or because you are taking a new job, then the process can be easier. The employer may have relocation services to offer, so be sure to ask about these. The services often include assistance in buying and selling your home, contracting a mover often with expenses paid, assistance in closing costs paid, and help securing financing for your next home. If you are making a choice because you need more space and rooms for l ...

A Man Loses a Zoning Case and Immediately pulls out a Gun and Shoots Himself in the Head 2007-10-06 14:18:13 A man in Tennessee shot himself after having his up-zoning case denied. I've been down at the Austin city hall a few times listening to zoning cases, and they can get pretty intense, but nothing near that level. Bo Ward of Bo's Barber Shop needed the official commercial zoning so that he could get a bigger loan and pay off the debts he racked up after expanding his shop. After the vote of 5-7 denying the commercial zoning, Bo walked toward the city council and said, "Y'all have put me under. ... I'm out of here," and shot himself in the head. His death was shocking and upsetting of course to many people in the town. He was well known and loved for giving free cuts to many of the soldiers and their families in the community that could not afford it. The mayor said they would not hold any more council meetings in that room. Ki works as a realtor for Escapeso Austin Texas Real Estate. His website provides visitors a free search of the Austin MLS. ...

Quitting Real Estate? 2007-10-04 18:06:23 I read a post recently where a real estate agent was posting about whether they should leave the real estate profession. The market had slowed in their area and their income stream had decreased rapidly. They worried that if the market didn't pick up soon, they would have difficulty making mortgage payments. What surprised me were the responses the post received. Everyone told them not to give up hope. It was a series of quotes about not giving up and lights at the end of the tunnel. And while I think the commenters were doing what they thought was best I disagree about the advice they were giving. Remember when you see a light at the end of the tunnel, sometimes it's a train coming to run you over. Let's consider a few facts. The housing market is going from a period of fast paced growth to a downturn. The amount of business has decreased rapidly. If we all stay in the same business we are quite frankly ignoring the economic realities we are facing. And if as a group ...

Do you check the Do Not Call List before calling a FSBO 2007-10-01 06:22:16 So I see FSBO's every so often when I am driving around town. And one thing that always makes me hesitate to call is whether they are on the Do Not Call List. The idea of getting fined 1000 or 2000 dollars is not appealing. I could download the Do Not Call List and write the number down and check when I get home but by the time I get back to the house I will probably not remember the piece of real estate as well as when I am right there looking at it. So how do other people handle the Do Not Call List when going after FSBOs. Ki is a real estate agent in Austin. His site Austin Real Estate Guide provides information on the Austin market along with a search of the Austin MLS. ...

Austin Real Estate Stats for August Released 2007-09-29 19:56:00 So the amount of inventory was up 21%. This is a pretty large increase but the amount of inventory on the market last year was insanely low. The market was slowed in August by some of the issues with subprime lending. It will be interesting to see what happens next month and if the Fed rate cut or the FHA Secure plan help to alleviate the problem with credit crunch. Here is a breakdown of the central Austin MLS Areas Ki is a realtor working in the Austin market. His website The Austin Real Estate Guide provides a free search of the Austin MLS along with information on Austin Condos and Lofts ...

Realtor Tips - Body Language 2007-09-28 21:58:02 Smile. Look them in the eye. Don’t cross your arms. Don’t get too close. Use their body language. Don’t blink too much. Everyone has something to say about how you present yourself. But sometimes I wonder if I wonder if they don’t sometimes wonder if the guy looking them directly in the eye the whole time is well a little scary. If the the guy who smiles so much maybe just doesn’t have enough of a clue to know when he shouldn’t smile. If that guy who never blinks might be a robot. I have known about all these little body language things for many years. I think we have all heard about them at some point or another. Hey, it doesn’t take a brain surgeon to tell me that when you smile, it relaxes people. But we don’t always do it. Sometimes we have to think about it. I wonder if that’s not just the worst thing in the world. I mean, I know I shouldn’t cross my arms all the time. It seems like I’m mad or maybe in a power stance. And putting your hands on your hips i ...

Is 0 Down for Investment Loans Dead 2007-09-28 08:59:07 So with all the changes in the loan industry and the credit crunch I had a few questions and I thought active rain would be a good place to post. What is the lowest downpayment possible on a home purchase and an investment purchase. In particular I am interested in loan officers that if not located in Texas at least are capable of offering services in Austin Texas. I would of course prefer programs with 30 year amortized for my real estate clients but would be interested in hearing about the different possibilities. Ki Gray is a realtor in Austin with Escapeso Austin Real Estate their website offers a free search for Austin Homes and Austin lofts ...

Selecting a Good Price for Your Home Purchase 2007-09-24 10:02:35 Establishing a good price to offer on the home you have selected is a big step in reaching the goal of actually buying the right home for you. Your Realtor has helped you select the right Lender for your portfolio and has also worked with you to select a good neighborhood and to understand the current dynamics of your real estate market. Now you need to begin to put all this together to craft a price point to use in your negotiations with the Seller. Selecting a good price to submit as your offer is a key point to your success in securing a contract and in closing the transaction. In addition to the price, there are other important factors to consider at this time, such as amount of down payment, options, contingencies, a feasibility period, etc. but first let's consider the price point. The price point is the maximum price you are both willing and able to pay for the home selected. How much are you willing to pay for right house? How much are you able to pay? These numbers may vary ...

Austin's Job Market Continues to Expand in Contrast to the National Job Market 2007-09-23 18:17:46   Austin job stats were released showing Austin to have strongest job market in 6 years.  The demand for labor is outstripping the local labor supply.  The last time Austin saw such low unemployment was during the tech boom.  The job growth has stayed above 4 percent for the last year. This is in sharp contrast to the rest of the nation.  Since August 2006, the area has seen job growth of 29,500 jobs.  Over the same time period, the nation saw a decrease of 4,000 jobs --the first decrease in 4 years. Local companies have not had a difficult time finding workers for entry level jobs.  But for higher paid jobs that require more experience and education, it has been difficult to find qualified applicants. With the country at large seeing job decreases and Austin seeing a job increase, the Austin population is set to expand as companies look to recruit people outside of Austin.  This should help to steady the Austin Real Estate ma ...

Finding the Right Neighborhood 2007-09-22 19:39:28 As the old saying goes, the three most important facts for selecting the right neighborhood are location, location, location. So, what about location? It is indeed a very important fact in the selection of your new home because a really nice, attractive, affordable home in the wrong neighborhood can be an expensive formula for disaster for you. The selection process is a critical key step for success. Use your realtor and their resources. They can provide you a lot of very useful information as you evaluate your needs and match those needs with the various sections of the city and the homes available within these neighborhoods. So, how do you evaluate your needs? Begin by asking yourself some important questions about your current lifestyle and your future, desired living conditions. A summary of the answers to these questions will help you determine where you might want to live in this community and why. Remember, this is the time to decide what your criteria will be for evaluatin ...

Finding a Good Lender 2007-09-20 00:42:24 As we learn more about the sub-prime "melt-down" of 2007, the selection of a good lender is apparent in its importance as a key step to success. A new home buyer must pay careful attention to this selection and a good REALTOR will facilitate the process and add to your success. Your realtor can provide you with some web sites for information and a list of some proven lenders. These referred professionals will explain their financing programs and options to you, but do not hesitate to ask your realtor for additional background and information. The loan process is complicated so do not hesitate to ask a lot of questions. For example, a pre-approval letter is an excellent tool to use as you prepare for your house search. What is a pre-approval letter? It is a written statement from your lender that tells the Seller that you indeed qualify for a loan. It provides the Seller confidence that you are a "qualified" Buyer and facilitates the offer negotiation process. A pre-approval letter wi ...

Fed Interest Rate Cut and Promises of Future Cuts Should Help Troubled Housing Market 2007-09-18 13:22:02 The Fed cut interest rates by .5% today. Although a rate cut was expected, 0.5% was at the upper end range of what was expected. This is good news for a troubled national housing market. The stock market responded with a 300 point rally. The rate cut is important for its financial help, but such an aggressive move is also an indicator that the Fed plans on addressing the current issues in the credit markets. Another bit of good news is that the Fed released a statement after the meeting saying that more rate cuts were on the way. While the rate cut doesn't spell an end to the current housing problems it certainly helps. Borrowers with fixed rate arms that are set to expire are facing increased mortgage payments. By cutting rates, it will allow homeowners to refinance at lower rates which should help homeowners faced with foreclosure. It also helps financial institutions that have been worried about large numbers of foreclosures for mortgages they are currently financin ...

Feng Shui in Real Estate - The Location and Lot 2007-09-16 08:02:04 What do you know about Feng Shui? If you’re like most people, you probably are not even sure if I spelled it right just now. Maybe you picture an old man doing the world’s slowest kung fu at dawn (that’s Tai Chi, totally different.) Feng shui is a sorta guidebook about the placement and architecture of a house to allow good flow of energy. And it's not just placement of the bed and couch. The placement of the actual house and landscaping will affect the ch’i (energy) of the house in a big way. Let's start with a few tips to bear in mind when looking examining the location for your dream home. 1. First and most important, research the history of a property. Find out what happened with the previous tenants, and the ones before them. And even the ones before them. Ask neighbors, or selling agent. If all the previous inhabitants have had money problems, family problems, etc., chances are there’s bad feng shui going on. Best to move on and look for another house. 2. Pay ...

Best Time for an Open House? 2007-09-15 23:47:49 So obviously the best days or Saturdays and Sundays. If anyone has had good luck on one of the weekdays please tell us about it. Personally I find Sundays to be a bit overrated. While Sundays are probably overall better than Saturdays I usually only see a 20% difference on Saturdays. For times I usually see a good number of people from about 12-1 and I also see a good number of people from 3-4. And I usually find a lull in the middle. But some of this might be an aspect of the Austin real estate market and the particular neighborhoods I am working in. If anyone has seen anything different I would love to hear about it. Ki works as a realtor for Escapeso Austin Real Estate. His site provides information on the various Austin Condos coming up in downtown Austin along with descriptions of the different Austin neighborhoods ...