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Articles from Austin Real Estate Blog

Austin's Identity Crisis for downtown Austin Real Estate 2007-09-14 17:51:56 I don’t know if you’ve noticed— it’s certainly hard to miss— but the landscape around Austin is changing. As is the skyline. As is the... well, the feel of the city. The flavor. Some Austinites are not excited about the changes going on. The corporations moving in, the family-owned and operated businesses go down while the thirty-six story condos go up. People who have lived here all their lives (or even just more than ten years) say that this is a different city than the one they remember. Back when they might not even have called Austin a “city.” There was a time when Motorola was just a type of phone people had, not a place where they worked. When video games were a thing people played, not designed. Where Dell was a thing from a song about a farmer, not a computer company. In short, there was a time when Austin was a big, friendly village where everyone seemed to know everyone. Now, it’s hard to see the sky without noticing the foreboding skeleton of an inc ...

Countrywide gets 12 Billion in Financing 2007-09-14 06:15:11 Countrywide has been going through a roller coaster ride. They fell after a wall street analyst mentioned the b word (bankruptcy) regarding Countrywide. The shares fell from a once high 45 dollars a share to under 20. Countrywide was buoyed after it was announced that Bank of America was buying 2 billion in non voting Countrywide stock. Countrywide raised to 23 dollars a share. But the continued real estate issues with the credit mess took Countrywide down to 16 a share looking worse than before the Bank of America deal. Today the roller coaster took a positive turn for Countrywide. Countrywide has secured 12 billion dollars in financing which should hopefully help it weather the credit crisis. Countrywide raised from 16 dollars a share to 20 dollars a share. Why does all of this matter? As one of the largest lenders in America a Countrywide bankruptcy could lead to more problems in our already troubled credit markets. While this doesn't put Countrywide out of the troub ...

How Late is Too Late and How Early is Too Early When Looking with your Real Estate Client? 2007-09-11 03:10:25 To start off in Austin our lockboxes are generally active from 9am to 9pm. That said I usually like to avoid looking at occupied houses before 10am. So if I am looking early I will try and hit vacant houses first. Austin being Austin alot of people get up later and I dont want to walk into a bedroom and find someone asleep. The lockboxes close at 9pm but to be honest most sellers dont want to show their houses after about 8. So if I am looking late I will generally try to show only vacant houses after 8. What hours do other realtors out there try to stay within. Ki is a realtor with Escapeso Austin Texas Real Estate. Their site provides a free Austin homes search along with a search for Austin condos. ...

Avoiding Sour Negotiations 2007-09-08 18:29:17 Negotiating can be tough. It is more an art of applying techniques to each unique transaction rather than cut and dry responses. With home sales, each home has a person behind it with emotions that can be triggered either positively or negatively. Whether I am the agent for the buying or selling end, I try to advise my clients with facts rather than emotions. I have run into other agents who get quite emotional and defensive about a transaction, and I can understand that inclination because some deals can just become so frustrating, but as the agent, it is best to take a step back and provide professional consultation instead of escalating your client's emotions. These are some negotiating techniques to keep in mind as options rather than letting a negotiation go sour. 1. Don't sweat the small stuff. It is common that people will haggle or get attached to small things like refrigerators. I try to put these things in perspective for my clients. Would you rather convey a $1000 ...

Why Use a Realtor? 2007-09-08 17:45:45 I hear from a lot of people we work with that they initially did not want to deal with Realtors when purchasing a property because they can sometimes be pushy or just a pain to deal with. This can be true, as it would be with any position that is involved in sales transactions, but if you find the right Realtor to represent you, then they can be an invaluable consultant and guide through the purchase transaction. For one, a good Realtor has the experience and understanding of the real estate market beyond what you can pick up in 1 month of looking alone. Personally, I would never buy in another city without employing a local Realtor. I could loose a whole lot more money by buying an over-priced house in the worst part of town. Every city and even every neighborhood has different advantages and disadvantages, and it is important to have a guide who can help you understand all these points. A good Realtor has the knowledge and skills to guide a Buyer into the right neighborhood. ...

Mansion Impossible Real Estate Game 2007-09-05 10:29:13 So this game is pretty addictive. Basically you start off with 100k and have to build up to 10 million buying and selling houses as they pop on and off the market. So far my best time is 11 years and 3 months. I found this over at the The Phoenix Real Estate Guy Blog. Its way too addicting but cool. Ki Gray is a realtor working for Escapesomewhere Austin Real Estate. He spends time doing stuff like writing pages about Austin Condos and playing wierd little real estate games. ...

What to Look for in a Real Estate Loan - Part 2 2007-09-02 22:55:20 In Part I, of What to Look for in a Real Estate Loan, we discussed the components of the loan that do not require lenders' quotes. The following components of the loan, including interest rate, points, and closing costs can get pretty involved and you will probably need to discuss the different loan options with a mortgage lender. Each lender will have different rates and fees, so I call around to a couple lenders and compare. 5. Interest Rate: The interest rate is variable depending on your credit score, income, and loan type. The higher the credit score, the better the rate. Lenders have cut-offs for what they consider above average, average, and low. If you can be in the above-average group, they will get the best rates. Your income comes into play when they figure your debt-to-income ratio. This is basically a way to measure how much you are bringing in and how much you are spending. At some point, a lender will not create more debt for you than they think you can handle. ...

What to Look for in a Real Estate Loan 2007-09-02 16:05:02 When you decide to buy a house, one of the first tasks is to talk to a couple lenders and choose which lender & loan is best for you. With all the loan variables, it's tough to compare one lender to another. In this blog, we'll go through each of the loan variables. In Part I, we will discuss the loan components that you can determine independently of a lender. These include down payment, loan life, property taxes, and insurance rates. In Part II, we'll continue to discuss the components that depend on lender quotes and input. 1. Down Payment: In general, the more you can put down, the better interest rate you can get. There is a point at which it does not matter how much more you put down, and that point is usually either 20% or 30%, depending on the loan program. If you are looking for the best rate possible and can put down more, ask your lender about this option. 2. Loan Life: The longer the term, the more total interest you will pay. This is partly because you will hav ...

The Benefits of a GFE and Pre-Approval 2007-09-01 23:53:11 Most real estate purchases are bought with loans so getting a good faith estimate and pre-approval letter from your lender helps the process start off on the right foot. The good faith estimate, or GFE for short, is required by law to be provided by lenders when you are seeking a loan. It lists out the estimated closing costs, monthly payments, and interest rates for the loan program you are looking at getting. The pre-approval letter is provided by lenders once they have run your credit and get your income / debt information. By getting the GFE and pre-approval letter, you can be confident that the loan will get processed with no surprises. There are also additional benefits to getting pre-approval and GFE before you even begin the property search. For one, by discussing your debt to income ratio with your lender and obtaining the GFE, you can determine your maximum price. It helps to know the maximum sales price when shopping around so that you do not waste time and energy loo ...

New 21 acre park in Austin 2007-08-31 09:49:53 So I love parks. And being in Austin I am not alone. Alot of people in Austin enjoy the wide number of parks scattered throughout Austin. Working in the Austin Real Estate market is nice because when people ask if their home is near a park the answer is usually yes because there are parks all over Austin. Anyway we are getting a new park in central Austin. Its a little surprising because most of the real estate that has been recently designated as parks has been on the outskirts of Austin. The park is 21 acres and is near the Long Center for the Performing Arts. So it might be nice to go to an event at the Long Center and then go hang out at the Park afterwards. Below is a picture of the park. Apparently the park has a set of fountains that get lighted up at night. Ki Gray is a realtor in Austin for Escapeso Austin Real Estate. Their website provides a description of the various Austin Condos going up in Austin. ...

Has anyone seen changes in Countrywide's processes in the last few weeks 2007-08-30 20:20:42 So we have watched Countrywide go through some turmoil over the last few weeks. I wrote about it last week over here Countrywide turmoil. Anyway I was wondering if anyone has seen any changes in countrywide in the last few weeks. Are they still offering the same loan programs? Also does anyone see a risk with getting a Countrywide loan given the current issues with Countrywide? Ki works as a realtor with Escapeso Austin Real Estate. His website provides a description of the Austin Condos coming up in downtown Austin. ...

Leona Helmsley the "queen of mean" real estate magnate - Part 2 2007-08-30 09:06:24 I recently posted at Leona Helmsley giving 12 million to her dog. Afterward I decided to do some more research on Leona Helmsley to figure out why she was called the "Queen of Mean". I always knew she had a negative reputation but I didn't know all the particulars. When her son died she decided to sue his estate (and his widow) saying they had borrowed money from her. In the end the wife was evicted from her house. The legal costs wiped her out. Years later the widow stated "to this day I don't know why they did it." In her tax evasion trial her staff said they were terrified of her. She casually fired employyees while getting fitted for a dress. Her most famous statement came out during the trial. When an employyee asked the real estate magnate if she paid alot of taxes she told him "Taxes are for the little people". I also ran across some quotes from Donald Trump after the trial. Apparently there was a movie about her called "Leona Helmsley: The queen of mean". Don ...

Earn Millions in Real Estate and then Give it to your Dog 2007-08-29 12:56:31 Does anyone remember Leona Helmsley? She wasn't exactly the most beloved woman in the world. After getting indicted for tax evasion, an employee quoted her as saying "Only the little people pay taxes." Kind of makes you all warm and fuzzy. Anyway while she apparently didn't like "little people" she did love her dog. It appeared with her everywhere including ads for the Helmsley hotels. Anyway for people that keep up with the world of real estate billionaires might already know Leona died recently and her will was released. She has 4 grandchildren. Two grandchildren received 5 million each and two grandchildren received exactly 0 dollars. Her will stated they received nothing "for reasons known to them". Anyway her dog "Trouble" made out the best inheriting 12 million. I am not making this up. I kind of wish I was because it would mean A) I am more creative than I actually am and B) The world makes more sense. What will a dog do with 12 million is anyones guess. An ...

Beautiful home in Northwest Hills 3-2.5 - 380k 2007-08-26 12:56:08 Beautiful home in Northwest Hills with high ceilings, wood & tile floors. Gourmet kitchen with thermador double ovens, granite, and stainless steel appliances. Third living room can be used as a 4th bedroom or study. For further information on this property please contact Austin Texas Real Estate at 512-740-7762. For information on our other featured homes visit our - Featured Austin homes list ...

River Place lot backing to greenbelt - 175k 2007-08-26 11:08:06 A gently sloping lot in the prestigious River Place subdivision which backs to greenbelt. Expansive greenbelt views that go for miles. This lot is not attached to a builder so you can pick your own builder and are free from any builder restrictions on what can be built. For further details please contact Escapeso Austin Real Estate at 512-740-7762. For information on our other featured homes visit our - Featured homes list ...