For new postings - visit new blog @ http://blog.wilcoluxuryhome.com

http://blog.wilcoluxuryhome.com

Open House - Rancho Siena

This weekend on Sunday 3/10/2013, from 1-5 pm, an Open House Tour  is open to the public at Rancho Siena.   This  Georgetown community is one of D.R. Horton newest master planned community.  The community features wooded and hill country view homesites.  

With almost 20 home plans to choose from you will find your next home, here at Rancho Siena.

The home tour includes 6 complete homes along with the model home located at 109 Adorno Lane, Georgetown TX 78628.   Take Ronald Reagan Blvd. (Parmer Lane) North approximately 2.5 miles past RR 2243.  Make a right on Via de Sienna Blvd.  Make a left on Adorno Lane.  Model homes are on the left.

See you there!

October Update - Austin Real Estate

Austin continues to see improvements in the housing market.  Sold listings are up nearly 40% in volume over last year.  Year to year comparisons on all months see gains over prior year.   With interest rates in the low 3% it is an incredible time to make that first purchase or make that move up.

Home Sales Continue to Show Increases in Austin Area

July 2012 Multiple Listing Service Data:

Units for Sale: (compared to July 2011)
New listings are up 9.67%.
Pendings are up 18.66%.
Solds increased by 24.35%

As for Average Prices:
The "New Listings" average list price is up 2.65% to $304,219.  In July 2011 the average list price was $296,359.

Sold average sales prices increased 7.58% to $276,822.  For July 2011 it was $257,322.

Did you know...that we had 10,720 active listings during the same week in 2011?  Today we have 8,941 active listings!  That is a 16.60% decrease from 2011.

Will Homes Near Balcones National Wildlife Refuges Raise in Home Value?

A new peer-reviewed national study, released by the U.S. Fish and Wildlife Service, shows that in urban areas across three regions of the country owning a home near a national wildlife refuge increases home value and helps support the surrounding community’s tax base.

According to the study, conducted by economic researchers at North Carolina State University, homes located within half a mile of a refuge and within eight miles of an urban center were found to have higher home values of roughly:

• Seven to nine percent in the Southeast;
• Four to five percent in the Northeast; and
• Three to six percent in the California/Nevada region

While this data doesn't specifically include the Midwest, Soutwest, Central Mountains & Northwest, because refuges in these areas tend to be located further from urban centers.  However, there are homes near the Balcones NWR that may benefit from this survey during the home selling process.

MLS Monthly Review - May 2012

Preliminary May 2012 Data:

Units for Sale: (compared to May 2011)
New listings are up 4.32%.
Pendings are up 18.85%.
Solds increased by 18.98%

As for Average Prices:

The "New Listings" average list price is up 1.14% to $330,674.  In May 2011 the average list price was $326,947.

Sold average sales prices increased 2.24% to $270,090.  For May 2011 it was $264,169.


Did you know...that we had 11,454 active listings during the same week in 2011?  Today there are 9,009 active listings!  That is a 21.35% decrease from 2011.


What does this mean?  Demand is slowing building.  For some areas of Austin, sellers are having the benefit multiple buyers submitted offers to buy their property.  This creates an auction effect, driving up the sales price of the home.  We are seeing this more and more in the Austin area.


Do you have a questions about listing your home for sale or how to purchase a property?  Please contact me.

Top Ways to Get Your Down Payment

The most common issue for a first time buyer usually seems to be…"How do I get the money needed for down payment on a home purchase":

1. Get A Gift – With FHA, the buyer can get a give from a relative for the down payment and closing costs. 
2. Down Payment Bridal Wedding Registry – Gives a couple an opportunity to received wedding “gifts” through a dedicated bank account to collect down payment funds for a new home
3. 401K Loan – You can borrow the money from yourself, in most cases this loan will not count against your qualifying debt to income rations and as a first time home buyer the most 401K programs will allow for this transaction,
4. Life Insurance – If you have whole life policy you can either borrow against it or cash it in.  
5. Secured Loan -  If you have an asset that is free and clear such as a vehicle you may be able to get a secured loan against the value of the asset.
6. DPA – Several government entities offer down payment assistance programs for first tie home buyers
7. Sale of Personal Property - With verification of value and bill of sale, the funds form the sale of personal property can be used for the down payment.
8. Human Resources – Some employers offer down payment assistance as a benefit to the employees.  These awards are eligible for down payment through FHA financing.
9. Tax Refund – A buyer can use this years tax refund to become a homeowner.  A copy of this years tax return and a copy of the refund check or bank statement showing the amount of the refund on the deposit is all that is required.
10. Second Job – Even though we may not be able to use this income to qualify the borrow if the borrower has not had the job for 2 years, the cash earned from the second nob can be used for the down payment.
11. Savings/Budgeting – Cutting back on extras along with anyone of the abve mentioned ideas will get you into a home faster.

There are some many reason why now is the best time to purchase your first home.  Please contact me to find out more.

Open House - May 26th - Gracywoods

There are just a handful of properties that back up to Walnut Creek as their greenbelt.  This property, 12039 Lincolnshire Dr is one of them.  The owners have taken great care to prepare this property for sale and it a real gem in the area.

Greenbelt View from Main Level

It's a 4 bedroom 2.5 Bath, all rooms are on second floor.  The kitchen cabinets and counter top have be replaced.  All the bathroom counter tops & tile have been resurfaced.  The first floor is tile/wood laminate and stairs/second floor has carpet except in bathrooms.  Each bedroom is well proportion and have a walk in closet.

We will be holding the property as an open house on Saturday, May 26th from Noon to 4pm.    Will be raffling a Nook Smart Touch at the end of the day.

Preliminary MLS Data - April 2012

Preliminary April 2012 Data: 
Units for Sale: (compared to April 2011)

• New listings are up 1.86%.
• Pendings are up 27.40%.
• Solds increased by 5.76%

 As for Average Prices:

• The "New Listings" average list price is up 4.74% to $336,915.  In April 2011 the average list price was $321,670. 
• Sold average sales prices increased less than 1% to $270,952.  For April 2011 it was $270,571.  

Did you know...that we had 11,315 active listings during the same week in 2011?  Today there is 8,756 active listings!  That is a 22.62% decrease from 2011.

HGTV's Property Brothers - Coming to Austin with New Show!

Update:  I get a lot of calls from this post.  Please note it is dated May 2012.  This particular event wrapped last year.   Also, I am a local Austin Realtor and not affiliated with the show.  If you would like more current Real Estate News, please follow this link to my new blog

HGTV is currently filming the premier season of "Buying and Selling" and, are in search of great couples and families in Austin who would be interested in getting a FREE RENO and being on TV!

This new show, called "Buying and Selling", is the Property Brothers' new project, and is all about people in the Austin area who are trying to sell their home. Each 1 hr episode will feature a different home/family, and follow the house selling and buying process from start to finish.

The Property Brothers will advise the couple/family on the small reno's/changes needed to increase the value and appeal of the property (and pay for them!), their team of professional designers and renovators will DO the actual reno's, and then the Property Brothers will assist in the actual SELLING of the house.  Once the sale is made, and during the renovation process, the “Brothers” will help to find the best NEW home on the market for the featured family.

HGTV are looking for people that have a great story - we want to find couples / families that have a strong reason for moving: closer commute to work, need more space for growing family, to be near better schools, extra room for home office etc. As well, families MUST be moving within the Austin area, and wanting to do so before August 2012.

Ideal selling price is roughly $150,000 - $400,000, and sized anywhere from 1,400 – 2,300 sq ft.  We're looking for those homes that need just an extra bit of "lipstick make-over" before they can be listed, and that will show nicely for the big "REVEAL".

Contact me if you or someone you know wants to be a apart of the show.

RealtyTrac - Renter Alerts

While doing research on foreclosures in the area on RealtyTrac, I came across a useful tool for renters.  It allows you to put in an address to see if it is in foreclosure.  Which can be helpful for renters to know if their landlord is really making those mortgage payments.

I can't say if its 100% accurate but it is a tool for renters sidestep a possible eviction through no default of their own.

Bella Vista - Cedar Park

This is a new project that I am working on for my blog, I will be visiting the neighborhoods of Cedar Park on a regular basis.  The video will be a drive through of the neighborhood along with MLS (Multiple Listing Statistics.  Enjoy.

Preliminary MLS Data - March 2012

Units for Sale: (compared to March 2011)
New listings are down 7.90%.
Pendings are up 19.39%.
Solds increased by 16.46%

As for Average Prices:
The "New Listings" average list price is up 3.66% to $342,713.  In March 2011 the average list price was $330,627.

Sold average sales prices increased 6.14% to $258,863.  For March 2011 it was $243,878.

What does this mean?  We are seeing a steady number of buyers coming to the market, but listings are not coming on the market at the same pace as last year.  The homes that are ready to sell and price right are selling quick.

February 2012 - MLS Update

Austin continues to see an promising trend on home sales.

Units for Sale: (compared to February 2011)

New listings are up 9.15%.

Pendings are up 28.61%.

Solds increased by 11.98%

As for Average Prices:

The "New Listings" average list price is up 5.84% to $326,993.  In February 2011 the average list price was $308,936. 

Sold average sales prices increased 4.26% to $251,134.  For February 2011 it was $240,864.  

Real Estate: Week Review - Austin MLS

Units for Sale:
For March 4, 2012 - March 10, 2012 (compared to the same week in 2011)

New listings are down this week 1.35%.
Pendings are up this week 18.79%
Solds are up 39.53%

Average Prices  
For March 4, 2012 - March 10, 2012 (compared to the same week in 2011) 

Sold average sales prices increased 15.41% to $270,637.  In 2011 it was $234,508 for the same week.

FREE Foreclosure Prevention Phone-A-Thon

The Texas Department of Housing & Community Affairs is hosting a Free Foreclosure Prevention Phone-A-Thon on Tuesday, March 13, 2012

Target Audience: Delinquent and at-risk Borrowers

What: Homeowners have an opportunity to ask questions and obtain information about steps to start or continue the process to avoid foreclosure

When: 8:00 am - 8:00 pm CST, Tuesday, March 13, 2012

How: Call toll free: 1-866-989-6931

Host: Fannie Mae's "Know Your Options"

Team: http://www.knowyouroptions.com/

While this event will be broadcast live only in Dallas on NBC 5, calls will be accepted from anywhere in Texas.

Please help spread the word to those in your community who may be facing foreclosure!

Texas Foreclosure Activity Down in 2011

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 89,675 Texas properties in 2011, down 25 percent from a year ago and 10 percent below the level reported in 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

The state posted the 25th highest foreclosure rate in the nation, with one in every 108 Texas housing units receiving a foreclosure filing in 2011.

Foreclosure filings were reported on 8,586 Texas properties in December, a 15 percent decrease from November and down 23 percent from December 2010. One in every 1,133 Texas housing units received a foreclosure filing in December, the 25th highest state foreclosure rate in the nation.

What are Easement Restrictions? How to Ensure Clear Title on a Property

When buying a home you’re bound to encounter some things that you don’t know anything about. They are things that outside of the home buying process you won’t ever run into. And since the average homebuyer only goes through this process a few times in his or her lifetime, it’s understandable that these things would be unfamiliar. A couple of items that seem to be perplexing are title insurance and the property survey, specifically how easements are represented.

When purchasing a home with a mortgage you need to get title insurance and a survey. This is required for all financed home purchases. An attorney or title company typically orders property surveys. Though the buyer has to pay for this service they usually don’t need to be directly involved in the process.

What is Title Insurance?

Title insurance is just another line item expense when purchasing your house, paid for one time at closing. Essentially, it is protection for you and your mortgage company that the person selling you the house has full and clear title to the property and was able to legally pass it to you. The title insurance company investigates the ownership of the property and then insures their work. If the seller didn’t rightfully own the home, and someone else does, the mortgage company and the homebuyer are financially protected. Fortunately, issues of title defects are relatively rare, meaning that title insurance isn’t too expensive and really not something to worry about.

What is a Property Survey?

A property survey is a carefully measured drawing that shows the land that is for sale and all structures on the property. It shows how large all the structures are and how far they are from each other and the borders of the property. Most importantly, it shows setbacks and easement lines.

Wait, what? It seems like the property lines and structures should be most important, but they are not. The setbacks and easement restrictions are actually the most critical elements of the survey because those are usually where the biggest problems are found.

What is a Setback?

A setback is the required distance between the house you wish to buy and other property features. For example, a city or county ordinance (or even a homeowners association) may require that homes be set back 20 feet from the road. So even though you own your front yard, you cannot extend your house any closer than 20 feet from the road.

Other setbacks indicate how closely you can build to your property boundaries or to your neighbors’ homes. If you live in an area with natural features like streams or lakes, certain special setbacks may also dictate how close you can build to these structures.

What is an Easement?

Easements refer to property with common usage rights. For example, you may own the land that a sidewalk is on, but anyone can walk on this part of your property.

Why Setbacks and Easement Restrictions Matter

What happens if the survey reveals that part of the house (the actual structure) up for sale sits within a setback or an easement? It’s a problem! In some instances it means that part of the house will need to be torn down before it can lawfully be sold. Otherwise title cannot be passed to a new owner because someone is attempting to sell property that was not built legally.

Surprisingly, this situation is not so uncommon. It may not affect the main domicile on a property, but garden sheds or pool equipment are occasionally located in an area where they don’t have a legal right to be. In these cases your lawyer has some work to do. Hopefully, you’ll discover that the structures are grandfathered because they were erected before certain setbacks were enacted. But definitely investigate these matters fully, as doing future improvements on the property may necessitate that they be corrected in the process.

Spend Some Time With Your Property Survey

For some, the survey process is one of those “check the box” items during home buying. Most get it done and move on. But it’s important to look over everything carefully and ask questions. Surveyors are happy to discuss the survey with you, and errors on surveys can occur. Spending 15 minutes looking this over will save you the headache of having it redone down the road when you want to build or make a change on your property.

Have We Found the Bottom to the Housing Market?

Home sales across the board, comparing 3Q2010 and 3Q2011, have increase, activity increased 1.7%, latest patterns offers signs of a finding a bottom to the housing bust.

Next year, the market will continue to work through the shadow inventory of foreclosures. Banks will not flood the market with foreclosures, that would further weakening the housing market, but we will continue to see a steady stream. In Texas is below 30% foreclosure and we fair better than other states in foreclosure because we did not see the appreciation in home values other states achieved in their market.

What does this mean in the Austin market? For buyers there are still deals to be found. However in the Austin market, we have 100% saturation in apartment rentals, and rents all over Austin are increasing we will see more and more qualified buyers move off the fence. Sellers are still holding tight. We are experiencing a low number of listings but ever increasing sales. The best homes that are price competitively are going fast.

Austin No. 3 for Most Jobs Gained Since Recession

According to the Austin Business Journal, Austin is among 13 of the nation’s 100 biggest labor markets to have regained all of the jobs that were lost during the recession.

The Capital City is ranked the third most prosperous metro during that five-year span adding 37,900 private-sector jobs, according to the Business Journals’ On Numbers, which used preliminary data from the U.S. Bureau of Labor Statistics  data to compare 2011 private-sector employment levels against officials figures for 2006, the last full year before the recession’s onset.

For the Austin market, year-to-date from 2010 to 2011, is stronger. Closed home sales are up 5.2 percent, Pending sales are up 8.6 percent, and inventory of homes available is down 12.6 percent, which means fewer homes and more buyers.

With employment numbers like this and a lack of listings currently on the market, buyer are have to engage in multiple offer situations.