Austin Real Estate Blog

Kent Redding

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Gotta get away?

by Kent Redding & Terrill Fischer

Sometimes, you just gotta get away.  We know we do!  Fortunately hotels, inns and B&B’s recognize this and often put together discounted packages that make it super easy to escape.  The following is our favorite “Get Away” resource list compiled over several years of travel.

 

Thorough and comprehensive, BedandBreakfast.com offers listings for B&Bs around the world.  Check out their special offers page.

 

Traveling to the Northeast and Mid-Atlantic? EscapeMaker.com is packed with escape options.

 

Just closed that really BIG deal?  Try the latest getaways from the Small Luxury Hotels of the World.

 

BBOnline.com, is another directory of inns and bed and breakfasts across the U.S. This site provides listings by state and package type, with easy-to-access links.

 

Canada lover? Who isn’t! Here's a website with a plethora of Canadian mini-break possibilities highlighting the best of Canada WeekendTrips.com.

 

Kimpton, a boutique hotel chain, regularly puts together special packages at its properties across the United States. Possibilities include wonderful health and wellness packages.

Another directory-based site that we like, ILoveInns.com focuses on B&Bs in the U.S., Canada, and U.S. territories such as Puerto Rico, Guam, and the U.S. Virgin Islands.

And lastly our favorite, Lastminute.com (formerly Site59.com) offers a host of possibilities for those needing a quick getaway. Specializing in travel within a two-week period, the site is a boon for procrastinators, spontaneous travelers, or those just needing a change of pace.

Now, go on….get outta here!

August Wrap Up for the Austin Real Estate Market

by Kent Redding & Terrill Fischer

August 2007 real estate numbers for Austin:

New listings are up by 3.15%.

Solds decreased by 14.63%.

As for Average Prices:

The “New Listings” average list price is up 14.56% to 299,055.

Sold average sales prices increased 8.33% to $256,035 compared to $236,355 in 2006.

We had 9,027 active listings during the same week in 2006?  Today there are 11,261 active listings!  That is a 24.75% increase from 2006.  

- Numbers provided by Alamo Title.

What do these numbers mean? The Realtors I’ve spoken to are seeing a decrease in showings on their listings yet there are still plenty of buyers out there to keep a lot of us busy, the market continues to move forward.  The number one thing that pops out to me the most is the continued increase in listing price even though there are increased listings and decreased solds. There are more Expireds and Withdrawns happening now too.

If you are selling a home and want to stay behind that curve on pricing your home too aggressively because then you’ll be forced to follow the rest of the listings on the way down. I’m seeing a lot more price reductions now as a number of sellers where pricing their homes 5-10% above the market. Only in Super hot areas would anything like that sell.  Otherwise is most areas those homes just sat on the market with very little showings and are now starting to lower their prices to where the market is currently for their area. We should continue to see plenty of buyers between now and the end of the year, but there will also be some good deals as motivated sellers will start to realize their over priced listings may not sell thus they then find themselves chasing the downward curve.

Some optimist feel our area and especially real estate will be strong to quit strong for the next several years as this area continues to boom in every way in both residential and commercial.  Other pessimist say that the mere “hype” or lack of confidence in the National real estate market will take it’s toll on our market even though the Austin area continues to be a thriving market in terms of growth and economics.  Generally, the market does tend to over react when it is hyping something or cautioning something.  The Fed did cut the interest rate a ½ percent which is what the market was looking for.  However, one reporter who interviewed the ex-chairman Allen Greenspan said she would guess that Greenspan would only want a ¼ percent rate cut.  The difference in cut is not yet determined on how it will affect the short and long term market place.

Do You Have a Horrible Neighbor?

by Kent Redding & Terrill Fischer

Do you have a horrible neighbor? If you do and don’t tell other people you are hurting future buyers in your neighborhood. These people can make life miserable for an entire neighborhood.

When I started real estate in the early 90’s there was NO internet to search for this kind of info about what kind of people live in your area. Now you can run web searches for the lasted trends or info on just about anywhere in the world. I wish I had access to this info back 15 years ago.

I can remember and old client who moved in to a northwest Austin neighbhorhood and found out he had a bad neighbor. It was nice house and clean yard, but there were some very scary folks that came over the that house everyday. After about 3 months my client found out from the police that that owner of the house was a drug dealer.

If you knew you there were rotten neighbors you would probably not buy that home in that area.  I still think the best way to discover what a neighborhood is really like, then go to the area during different times of the day and night so you can really see what’s going on. Talk with the people in the area about what they think about it. This way you can believe your own eyes and ears about what is really going on.

If you want to search the web to see who your lousy, nosy, scary, and trashy neighbors are on in the your 'hood… Click here to visit Rotten Neighbor.

If you know you have bad neighbors them you check out this article on the how to deal with those horrible folks. Watch the news story on NBC’s Today Show.

Are Mortgage Brokers and Banks Different?

by Kent Redding & Terrill Fischer
In today's world of lending, it is often confusing to sort out the differences between brokers, banks, funding companies etc...
Mortgage brokers differ from commercial banks and Savings and Loan Associations because they represent dozens of lenders. They act as home financing 'match makers' by trying to pair you up with the lender who offers a product best suited to your needs. That runs the gamut from no points to some points, from adjustable to fixed interest rates, to hard to place or specialty loans (i.e. bridge loans). Mortgage brokers may either shop your loan with lenders or place it directly.
Lenders, on the other hand, represent one company and their particular loan products. Some lenders work in different lending niches; for example, borrowers with a less than perfect credit rating or loan qualifications.
One of our favorite resources for understanding mortgages is author David Reed's book - Mortgages 101. 

Mueller Austin Re-Development Transformation

by Kent Redding & Terrill Fischer

Mueller Austin

The Re-Development of the old Austin Mueller airport is creating a boost for economic development in Central East Austin. This area was just a wide swath of open land and warehouses is turning into a up and coming neighborhood. Ground has recently broken for a 348 single-family residential phase in the redevelopment, ranging from $120,000 to $700,000. Homeowners will move into the first phase by the end of the year through early 2008.

The development is designed to be community and pedestrian friendly. Bike lanes and sidewalks will be included on all streets.

The homes will be built with front porches and garages in the backs of the houses.

Approximately 4,500 homes will be built in the next 10 to 15 years.

The former airport will become  a 711-acre development with housing, stores, offices and medical facilities. It is being designed as a pedestrian-friendly community with park space and an emphasis on green building.

Roads are being built for the next phase, which will have 360 homes. Construction will begin in mid-2008. The options will include the same yard, row and garden court home styles as in the first phase. But there also will be live-work units, which have retail on the bottom with living space above, and Mueller houses, designed to look like mansions but housing several condominium units.

Austin City Council Member Sheryl Cole says….

“It’s been so many years that East Austin has not had this kind of development or investment in the infrastructure that I think it’s just great,” Cole said.

The first phase will include about 350 homes ranging from $120,000 to $700,000.

Whelan says about 70 of the homes are targeted for affordable housing.

“They will be designed to the same architectural standard — the same green building standard — and they will be interspersed throughout the area to create a true mixed income community.”

The development is designed to be community and pedestrian friendly. Bike lanes and sidewalks will be included on all streets.

The homes will be built with front porches and garages in the backs of the houses.

If someone is looking for new construction in central Austin, then they definitely need to consider buying a home at Mueller. This piece of real estate will offer people opportunity to buy a new home in Austin at an affordable price and be part of great new community. Here are the builders buyers can choose: http://www.muelleraustin.com/builders.html

Sources: [KVUE News]

Starting a Neighborhood Watch

by Kent Redding & Terrill Fischer
Austin Neighborhood Watch, Austin Block Watch, Austin DownTown Watch, Apartment Watch, Crime Watch -- no matter what it's called, this is one of the most effective and least costly answers to crime. Watch groups are a foundation of community crime prevention, they can be a stepping stone to community revitalization.
Phase One:
  • Form a small planning committee of neighbors to discuss needs, the level of interest, possible challenges, and the Watch concept.
  • Contact the local police or sheriffs' department, or local crime prevention organization, to discuss Neighborhood Watch and local crime problems.
  • Invite a law enforcement officer to attend your meeting.
  • Publicize your meeting at least one week in advance with door-to-door fliers and follow up with phone calls the day before.
  • Select a meeting place that is accessible to people with disabilities.
  • Hold an initial meeting to gauge neighbors' interest; establish purpose of program; and begin to identify issues that need to be addressed. Stress that a Watch group is an association of neighbors who look out for each other's families and property, alert the police to any suspicious activities or crime in progress, and work together to make their community a safer and better place to live.
  • Consider setting up a website just for your community watch activities and use it to inform members of recent crimes and prevention tactics.
Phase Two: When the neighborhood decides to adopt the Watch idea
  • Elect a chairperson.
  • Ask for block captain volunteers who are responsible for relaying information to members on their block, keeping up-to-date information on residents, and making special efforts to involve the elderly, working parents, and young people. Block captains also can serve as liaisons between the neighborhood and the police and communicate information about meetings and crime incidents to all residents.
  • Establish a regular means of communicating with Watch members e.g., (newsletter, telephone tree, e-mall, fax, etc).
  • Prepare a neighborhood map showing names, addresses, and phone numbers of participating households and distribute to members. Block captains keep this map up to date, contacting newcomers to the neighborhood and rechecking occasionally with ongoing participants.
  • With guidance from a law enforcement agency, the Watch trains its members in home security techniques, observation skills, and crime reporting. Residents also learn about the types of crime that affect the area.
  • If you are ready to post Neighborhood Watch signs, check with law enforcement to see if they have such eligibility requirements as number of houses that participate in the program. Law enforcement may also be able to provide your program with signs. If not, they can probably tell you where you can order them.
  • Organizers and block captains must emphasize that Watch groups are not vigilantes and do not assume the role of the police. They only ask neighbors to be alert, observant, and caring and to report suspicious activity or crimes immediately to the police.
  • The Watch concept is adaptable. There are Park Watches, Apartment Watches, Window Watches, Boat Watches, School Watches, Realtor Watches, Utility Watches, and Business Watches. A Watch can be organized around any geographic unit.
Tips for Success
  • Hold regular meetings to help residents get to know each other and to collectively decide upon program strategies and activities.
  • Consider linking with an existing organization, such as a citizens' association, community development office, tenants' association, housing authority.
  • Canvas door-to-door to recruit members.
  • Involve everyone. Young and old, single and married, renter and homeowner.
  • Gain support from the police or sheriffs' office. This is critical to a Watch group's credibility. These agencies are the major sources of information on local crime patterns, home security, other crime prevention education, and crime reporting.
  • Get the information out quickly. Share all kinds of news to quash rumors.
  • Gather the facts about crime in your neighborhood. Check police reports, do victimization surveys, and learn residents' perceptions about crime. Often residents' opinions are not supported by facts, and accurate information can reduce fear of crime.
  • Physical conditions like abandoned cars or overgrown vacant lots contribute to crime. Sponsor cleanups, encourage residents to beautify the area, and ask them to turn on outdoor lights at night.
  • It's essential to celebrate the success of the effort and recognize volunteers' contributions through such events as awards, annual dinners, and parties. To help meet community needs, Neighborhood Watches can sponsor meetings that address broader issues such as drug abuse, gangs, self-protection tactics, isolation of the elderly, crime in the schools, and rape prevention.
  • Don't forget events like National Night Out or a potluck dinner that gives neighbors a chance to get together. Such items as pins, t-shirts, hats, or coffee mugs with the group's name also enhance identity and pride.

Good News! Horrible jobs report.

by Kent Redding & Terrill Fischer

The jobs report that came out this morning was expected to be bad but according to CNN-Money it was much worse than expected.  The reports have slid downward for the prior 3 months and this one was the worst in 4 years. 

Where's the Good News?

Well, the question is no longer will they or won't they drop rates at the upcoming Fed meeting in a couple of weeks.  The new question is how much .25 or now as low as .5? 

So mortage rates have a solid chance to get back into the 5's which is good news for the housing industry and first-time home buyer.  Don't watch the Headlines to close. There will be a market dip with some profit taking today and early Monday. But the view from here....we are headed in the right direction. 

Termites? Oh, No!

by Kent Redding & Terrill Fischer

Termites are almost everywhere, and termite damage is rarely covered by homeowner insurance. That's a bad combination, because termites cause $2.5 billion/year of property damage in the U.S.

Termite problems potentially get worse the farther south and west you live, so here in Austin we are smack dab in the middle of  it. 

Termites love moisture and according to Austin area pest specialists other than moving to Maine, North Dakota or Alaska the best prevention is to keep moisture and termite food away from your house.

Termite Prevention Tips - 

* Clear sticks, branches, leaves, any wood debris and other wood items away from your home.

* Fill depressions that might hold water. This will keep water flowing away from the house (and it will minimize the mosquito problem).

* Adjust landscaping sprinklers to ensure that the house is not being watered along with your lawn and garden.

* Make sure splashblocks are in place at downspouts, that the splashblocks are in good condition, and that they still direct water away from the house.

* Maintain that exterior soil grade to drain away from the house; even if you change your landscaping.          

* See if there is leakage at your hose bib (outdoor faucet) when you are using a hose.

* Inspect/replace the washers on your hoses periodically. Water from leaking hoses can run straight down your foundation wall. 

All for now......buggin' out!

Austin......What's the Big Deal? (part 2)

by Kent Redding & Terrill Fischer

We are all the time getting quizzed about why so many folks love Austin and want to move here.  What's the Big Deal? Here is part -2- .....

According to “Dog Fancy” Austin is one of the Top 10 Cities to Be a Dog, November 2005 / you gotta love that!
• Austin ranks 8th of America's Cleanest Cities by Reader's Digest, July 2005
• Austin ranks 10th in the Top 10 Healthiest Cities in America by Sterling’s BestPlaces.com, July 2006
• Austin ranks 11th in the 25 Best Running Cities in America poll by Runners World, July 2005
• Austin makes the cut as one of 50 Fabulous Gay-Friendly Places to Live by Gregory A. Kompes, December 2005 / not that there is anything wrong with that!
• Austin ranks 2nd on Vegetarian Times' Ten Greenest Cities list, July/August 2005
• Polstar names Austin City Limits Music Festival the "Festival of the Year"
during its annual Concert Industry Awards, February 2006
 
• American Way magazine features "The Top 10 Lists of Great American Music" and Austin appears on three of the   lists including "great music towns," "great bigger-is-better music festivals" for the Austin City Limits Music Festival and "sacred ground" for Threadgills restaurant, June 2005
 
• Austin ranks 6th in a study by Silicon Valley naming the nation's Top Tech Hubs. The study compared business and quality\of-life issues, claiming Austin has affordable housing, electricity and state taxes, September 2005
 
• Austin is among the Coolest Cities for Young Professionals according to Kiplinger.com, September 2005
• Austin ranks 1st among U.S. cities in the fourth annual Mayors Challenge rankings of the Best Cities for Future Business Locations by Management magazine
 
• Each year, Intel ranks the Top 100 U.S. Cities and Regions with the Greatest Number of Commercial and Public Wireless Internet Access Points and Austin ranks third, October 2006
 
• Austin ranks 3rd in a list of America's Most Innovative Cities by the Wall Street
Come see us!

Wet Weather Lawn Problems in Austin

by Kent Redding & Terrill Fischer
 
What’s Up with Austin Lawns?
This has not been a typical Austin summer, which means we are not seeing our typical summer lawn problems (like damage from heat-loving chinch bugs). After a survey of an Austin neighborhood, here’s the scoop on what’s up with Austin lawns.
 
Green & Looking Good - If you used a natural or certified organic slow-release fertilizer or top-dressed with compost this spring, chances are your lawn looks just fine.  Any product that adds or encourages beneficial soil organisms helps promote healthy soil with lots of biological activity. These organisms break down and release nutrient sources slowly, resulting in a healthy, resilient lawn.
 
Too Tall for Its Own Good - There are many St. Augustine lawns that look great. If anything, they are growing too fast and need to be mowed a little more frequently. Remember the general rule about not removing more than 1/3 of the grass blade at a time. If you let your lawn get too tall before mowing, it will take longer for the clippings to decompose, creating conditions for thatch build-up that weakens the turf.
 
A Brownish, Yellowish Haze Over the Entire Lawn – Take a look at the top of an individual leaf blade. If it is ragged and jagged, your mower blades need to be sharpened. Sharp mower blades make a cleaner cut; the grass looks better and is healthier. Frayed leaf tips from a dull mower blade increase the chance of the fungus entering the plant.
Faded Yellow & Washed Out - Many St. Augustine lawns are looking a bit pale. These lawns probably haven’t been fertilized in the last year or they were fertilized with a highly-soluble quick release fertilizer that has dissolved and washed away or leached through the soil. Iron is the main micronutrient that helps grass look green because it is critical in the production of chlorophyll. Foliar application of a product containing iron sulfate or chelated iron is generally quicker than a soil application of an iron product. The best way is to resolve nutrition issues is start using slow-release, organic fertilizer products that help build healthy soil, which in turn releases existing, chemically-bound iron. Always read the label – many iron products will stain driveways and limestone. Check with your local Grow Green nursery to find out advantages and disadvantages of products they carry.
 
Yellow Circular Patches & Rotting Leaf Blades - If the leaf blades are rotting but the roots are intact the problem is likely brown patch, a fungal disease that prefers wet conditions and temperatures up to 85 degrees Fahrenheit -- very much like the last few months. The turf eventually turns brown and the leaf blades rot off of the runners. It is best to treat brown patch when it first shows up, so be on the lookout. In order for the grass to recover, even with the application of a fungicide, environmental conditions have to change --  it needs to stop raining and get hot!
 
Yellow Circular Patches & Rotting Leaves & Roots – If the leaves and the roots are rotting the problem is likely take-all patch. This disease is more aggressive than brown patch and harder to control; however, Texas A&M researchers have had decent results in the Dallas area by using sphagnum peat moss as a top-dressing. There is research to indicate it doesn’t like acidic conditions. Check this link for more detailed information about this study http://www.plantanswers.com/root_rot_fungus.htm
 
What to Do - The best turfgrass management practices encourage moderate growth and healthy soil. Soil compaction, thatch build-up, fertility imbalances, overuse of herbicides and improper mowing frequency or height can weaken grass and make it more susceptible to problems:
 
  • Aerate at least once a year to improve soil and reduce thatch build-up. Thatch is the perfect breeding ground for diseases and insects. Try to keep less than ½” of thatch. Aerating helps reduce soil compaction, assisting in a healthier root system.
  • Properly diagnose disease problems.
  • Check with your local nursery about other earth and people-friendly products that can help solve your turf problems.
  • Pick up a Grow Green Lawn Problems or Lawn Care fact sheet at your local Austin nursery or home improvement center or find it on the Grow Green website at www.growgreen.org 

Displaying blog entries 191-200 of 232