Category Archives: Home Buying

Lost

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Have you ever been on your way home and come across a detour sign?   All you have to do is follow the arrows and eventually you will make it home – right?  Yet suddenly, you feel dazed and confused and for a milli-second you think – where do I go now?
 
The feeling you get when seeing the detour sign, is no different then being in a house with a bad floor plan.  Poorly designed homes come in all shapes, sizes and price points.  I was in several of them last week in Rob Roy, Allandale and Wells Branch.  
 
You don’t always know right away when you are in a bad floor plan.  At some point common sense kicks in and your brain anticipates what room should come next – and when it doesn’t, you instantly feel lost.  It’s kind of like seeing that detour sign.  Your natural driving habit is to follow the path of least resistance.  Your natural living habit is to do the same.  Noone should need to walk from the kitchen through the living room – to get to the dining room table.
 
Paint, furniture and floor plans all evoke a mood within you.  Poor floor plans will sell, just like homes with purple walls and orange carpet, but they will stay on the market longer, and as a result will sell for less money because they are not going to appeal to the masses.  If you are feeling lost when touring a house….it is not going to be your home.

What’s your home’s walking score?

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When I’m working with Buyers, I always want to know about where they work and how they live, because the house they ultimately decide to purchase has to fit in with their lifestyle.  People don’t often consider how walkable a neighborhood is when they find a house they love.  More often than not, we then to take a step back and figure out if Johnny can walk to school, or how close we are to the running trail.  

 

When I refer to a house being walkable, I am talking about proximity, not necessarily walking distance.  Not everyone in Austin has a commute.  Many of my clients work from home, so even the nearest place to get milk, can be a consideration.  Those who work from home have no commuting flight path.  Everyone has something they want to be convenient to.  For me – it’s a movie theater.

 

Walking scores do actually exist.  Overall, Austin has a walking score of 49, with 100 being the best. It is rated the 29th most walkable city in the country. Looking to find out how walkable your house is?  Go to http://www.walkscore.com/

I support local Austin, after all, I think it’s only neighborly.

Showing property with a Dash of History, for Good Measure

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For starters, I would just like to thank you for referring me to your friends, family and co-workers. My business is based on you, and I am very blessed to have your continued support.

 Last week, I was in Round Rock and then, moved on to Downtown, Austin to view some condominiums.  If you haven’t been to the historical district of Round Rock, it is quite charming. Downtown, I went to the Brown Building and the Nokonah.  Located on W 9th Street, the Nokonah is in the heart of Duncan Park and within walking distance to Whole Foods, restaurants and shops.  

Built in 1940, the Brown Building, on Colorado Street holds a historical designation, which gives owners an additional tax exemption.  The building was originally utilized as office space, some of which was occupied  by politicians,  including former President Lyndon B. Johnson. In 1998, The Brown Building was converted to loft style condominiums.  The Brown Bar and Gumbos restaurant are on the first floor, for your dining pleasure. Here’s a peak

Reminder:   we must be under contract by April 30th in order to qualify for the tax credit.

I support local Austin; after all I think it’s only neighborly.

Contact me for real estate needs by:

Phone:  201-286-2504

Email:  doreen@supportlocalaustin.com

Playtime in Austin includes the Tax Credit Hustle

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It was an amazing week to be in Austin last week. We started with the Zilker Park Kite Festival, then moved on to SXSW, and it was spring break.  All in all people were out and about exploring this wonderful city we live in.  Where was I?  A little bit of everywhere, buyers are hustling to meet the tax credit deadline, and I am moving them along.  My goal is to have everyone who cares about the tax credit to be under contract within the next week.  

 

Understand, we need our option period to decide whether to go forward with the house, and then there is of course, the financing hurdle.  I am advising my clients to keep the ball in someone else’s court while we shop.  If the Lender wants pay stubs, tax records, employer contact information…whatever it is, let’s get them the information they need, so we can get the file into underwriting as soon as possible.  

 

Lender qualifications change often, so it is important to keep in contact with them.  If for some reason, we fall out of contract and then need to find another house to purchase, we still have time to meet the deadline.

Coming soon: rate change on PMI

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I learned something last week, that I need to share because it does not seem to be making the news.  On April 5th, the FHA upfront mortgage insurance premium is going to be raised from 1.75% to 2.25%.  When you are not putting 20% down on a home, and don’t want to participate in a second mortgage, you qualify for an FHA loan, which only requires a 3.5% downpayment.  The upfront mortgage insurance premium is calculated off of your loan amount.  It does not include the down payment.  On a $100,000 loan, the upfront premium would change from $1,750 to $2,250.  Understand this amount is owed ‘upfront’ at the time of closing and is separate from the monthly mortgage insurance you are still required to pay.

 

FHA loans are assigned case numbers.  So, anything under contract prior to April 5th, will not be affected, as long as the loan is approved.

 

If you have detailed questions, it is best to speak with a lender. Since, we are all more frugal than a year ago, I thought I would give you a heads up.

Time for a Change

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As I mentioned in the beginning of the year, change is in the air.  My business is growing, and as a result, I have made some improvements to streamline systems to help me – help you. First, I have changed my email address.  It is now doreen@supportlocalaustin.com.  The nice thing is that I can easily check email on my phone when I’m on the road, so I can reply to clients faster, and it all syncs to a central server.

The second thing I have changed, is posting my cell phone as my office phone.  My clients are ultimately communicating with me through my cell phone anyway, and I them.  So, I decided to cut out the middle man and go directly to my cell phone.  As you already know, I spend quite a bit of time in my car, so these little things will increase my level of customer service.

Oh, and one more thing….I am now at Sky Realty.   As I enjoy teaching others, I enjoy learning new things too.  Look forward to an improved website and home search features in the coming weeks.

If we are not moving forward, we are moving backward.  We are indeed, always moving.

Thank you all for your continued support and well wishes.