It’s not rabbit season. It’s not duck season. It’s house hunting season. I’ve been hosting open houses and have had visitors. The Texas heat has been similar to the dead of winter in that if people are getting out of their climate-controlled vehicles to visit me, they are for a reason. They are hunting. House hunters are not desperate. These buyers are slow, meticulous, and move when they are ready. House hunters want to buy a house and may need to buy a house, but whether they date the rate or marry it – financially it’s a big decision and they are taking their time.
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Author Archives: Doreen Zelma
Buying the Perfect Austin Home
So you think you’ve found the perfect home, but is it perfect for you? The path to actually buying it can prove otherwise if you haven’t done your homework. The Austin Real Estate market is very strong. Interest rates are low, many people have jobs and companies are moving here creating more opportunities for people. Formula 1 has also added yet another head turning reason to consider moving to Austin for those out of state. Houses in Austin are selling. If you found the perfect house today and don’t know how you could buy it, you shouldn’t be looking…yet. After all, if you can’t afford it…the house is not so perfect anymore.
Austin Homes for Sale
Whether you are purchasing a first home or simply want to move to another, you need to do some homework. Everyone has an idea in their head of what they want to spend on a home, but many don’t know how that translates in terms of how much of a house they can actually afford. Your debt to income ratio is only part of the formula. The other consideration that lenders will look at is your credit score. Many buyers I talk to have no idea what their credit score is. Credit scores run between 300 and 850. A credit score of 650 – 699 is generally considered moderate, while numbers between 700 and 850 are considered good to excellent. The combination of the debt to income ratio and credit score will determine what loan programs are available, what the interest rate will be and ultimately how much you will qualify for.
Buying the Perfect Home
A lender will explain what your options are and then we will talk about them. I always try and keep lifestyle in the mix to help you decide what you want to spend. You may need to be at the high end of what you can qualify for if living near Downtown Austin is important. Likewise, if you are planning to expand your family or will need to purchase a car and know your monthly expenses are going to increase as a result; you may want to spend less. Once you do your homework, you will find a home that fits your financial and lifestyle criteria. It will be the perfect home – that is perfect for you.
5905 Paseo Del Toro Central Austin 78731
5909 Paseo Del Toro Austin Texas 78731
5905 Paseo Del Toro is a Central Austin beauty combines casual style with modern sophistication. Ideal floor plan w/master suite & additional bedroom on main level – perfect for office or guests. Large eat-in kitchen w/stainless steel appliances.
5905 Paseo Del Toro, Austin TX 78731 – see website for more information
5905 Paseo Del Toro features: 2 floor-to-ceiling Limestone stone fireplaces, built-ins, hardwood floors on first floor, crown molding, modern master bath with glass tile backsplash, glass cabinets in kitchen, wood blinds, ceiling fans in all rooms. Updated: HV/AC (SEER <14), Water Heater, Roof, Lighting, Convection Oven range.
5905 Paseo Del Toro Austin, TX 78731 link on You Tube
Location: Highland Hills / Northwest Hills Area, commuters dream – easy access to downtown, lake, eateries, daycare, cleaners, hike & bike trails and dog parks. No HOA!
Year Built: 1980
Bedrooms: 4 (master and additional bedroom on main)
Baths: 2.5
Square Footage: 2,127 sq. ft. (per appraiser)
Exterior: Front Porch, 3-sides masonry, nice backyard deck
List Price: $399,999
So you want to buy a house
I was pricing a house for a new listing this week and was encouraged when I discovered there were no active properties for sale. When I pulled the Austin real estate MLS data, everything was pending and many were on the market for less than 10 days. I have mentioned before that inventory is low and in some areas and even condo communities — it is nonexistent. The laws of supply and demand are going to translate to higher sales prices in the near future – due to the low inventory. I cannot stress enough the importance of talking to lender before you look at anything in person. You can be in great financial shape with no debt and a good job and still not get a loan these days. Most people have no idea what their credit score is or what is on their credit report.
It’s a great idea to talk to a lender even if you aren’t planning on purchasing a home for a year or two. Sometimes, things appear on a credit report that should not be on there, like a college loan that was paid off years ago. Understand, the challenge often with a credit report is not in releasing the lien — it’s about waiting for that line item to not appear on your credit report anymore which will raise your credit score. It can take 3 to 6 months at minimum for the debt to no longer appear on a credit report, so I encourage everyone to know your number even if you aren’t buying a house anytime soon.
Austin Real Estate Market
The Austin Texas Real Estate Market is strong and will remain strong with mortgage rates in record lows. If you are thinking of selling, I encourage you to talk to me about your local inventory, because after all markets are local. 2009 may not have been your year to sell, but 2012 may very well be.
South Austin Open House
8108 Manassas Drive is located in South Austin’s 78745 zip code. 8108 Manassas Drive is a single story, all brick home located in the Shiloh subdivision. Originally built in 1977, the well maintained home features a 2-car garage, 3 bedrooms and 2 baths. Updates include HV/AC , insulation as well as a dishwasher and microwave. 8108 Manassas Drive offers 1,576 feet of living space per the tax record. The property has trees for shade. The list price of 8108 Manassas Drive is $179,000.
Visit me on Sunday, January 29th from 1 – 4 pm.
Directions: South of William Cannon on Manchaca Rd to Right (West) on Shiloh. Second Right onto Manassas Drive . 8108 Manassas Drive is the second house on the left.
Subdivisions by the Numbers
How many Austin homes are for sale in a subdivision near you? What are the median list prices? Let’s explore some random Austin subdivisions look at the numbers. Note these numbers are by specific subdivision name, not by area. There may be more homes available nearby. When buyers are looking in a general area, like Tarrytown or Travis Heights, I typically set up a map search. Older neighborhoods are made up of many micro-subdivisions as the land was and is developed. The subdivision list below is random. It will give you an overall idea of what to expect in terms of available inventory. If there is a particular subdivision or neighborhood you would like me to highlight in the future, please ask.
Austin Market Data
Crestview
Number of homes for sale 13
Median List Price $264,900
Where in Austin? Central
Rob Roy on theLake
Number of homes for sale 6
Median List Price $2,924,500
Where in Austin? West
Tarrytown
Number of homes for sale 7
Median List Price $789,000
Where in Austin? Central
Legend Oaks
Number of homes for sale 9
Median List Price $259,900
Where in Austin? Southwest
Shady Hollow
Number of homes for sale 9
Median List Price $304,990
Where in Austin? Southwest
Senna Hills
Number of homes for sale 4
Median List Price $532,188
Where in Austin? West
Great Hills
Number of homes for sale 11
Median List Price $525,000
Where in Austin? Northwest
Highland Park
Number of homes for sale 11
Median List Price $589,000
Where in Austin? Central
Jester Estates
Number of homes for sale 7
Median List Price $457,000
Where in Austin? Northwest
Mueller
Number of homes for sale 6
Median List Price $746,716
Where in Austin? East
Crossing at Onion Creek
Number of homes for sale 11
Median List Price $160,000
Where in Austin? Southeast
Open House 7117 Ridge Oak Road
Legend Oaks: 7117 Ridge Oak Road, 78749
Legend Oaks home in Southwest Austin features a wonderful bright and open floor-plan. Backs to Greenbelt. Located at 7117 Ridge Oak Road, this single story home has a Gourmet kitchen with center island opens to formal dining and living room with tile floors, built in entertainment hutch, fireplace and crown molding. The home is 1,841 square feet per the tax record and has 3 bedrooms with 2 full baths. 7117 Ridge Oak Road has a 2-car garage and 3-sides of masonry exterior finish.
7117 Ridge Oak Road is listed at $239,000
Directions: From Mopac South: turn right on William Cannon and turn left on Ridge Oak or from 290, turn left on William Cannon and right on Ridge Oak
Open House 7117 Ridge Oak Road
Visit me Sunday, January 15th from 1 – 4pm
View pictures of 7117 Ridge Oak Road and other Legend Oaks’ homes here.