Tag Archives: Buying a home

Looking to purchase a home in Austin? Doreen Zelma is a real estate professional ready to help, whether you are a first time home buyer or seasoned second time or move up buyer.

Like a G6

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The Gulfstream G650 jet is the fastest civil airplane in the world.  The Federal Aviation administration is set to certify it to fly at 704 mph or mach .925 in the next year.  Once you are under contract to buy home, the time starts going by – like a G6.  The option period is typically 7 days long and it starts ticking the minute the offer becomes a contract.  So, time is of the essence.

The better educated a buyer is before the option period begins, the smoother the time goes by.  Understanding the loan program you are qualifying for, choosing a home inspector, and having liquid funds available for option and earnest money fees are just a few of the things that add stress and take time. 

Any amendments made to the contract need to be agreed upon by midnight of the last day of the option period.  If the Seller has not signed the amendment by midnight on the last day of the option period, the buyer has 2 choices.  The buyer either accepts the property based on the initial terms and conditions, or must terminate contract in order to get their earnest money.

It’s no fun waiting until the last hours of an option period to wait for either party to decide what to do.  The best advice I can give is to be prepared before you find a home. Don’t waste days during your option period to prepare.  Planning ahead lets you take off like a G6 and allows time to educate yourself on the home, without feeling rushed.

Austin Neighborhood Spotlights

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What’s going on in a neighborhood near you? I have selected some random neighborhoods in Austin and cities surrounding it, to provide some current real estate market data. If there is an area or neighborhood you would like me to spotlight – just let me know.

Overall, the Austin market is going strong into 2011 strong. Neighborhoods averaging 3 months or less are considered to be seller’s markets, because there is a demand to live in them. Neighborhoods averaging 4 to 6 months are considered neutral markets. Six months or more time on the market is considered to be buyer’s markets. The exceptions to this rule: luxury properties over $800,000, simply due to less buyers and new homes under construction where the houses are actively marketed before or during building.

Austin Homes for Sale

Hyde Park (Central Austin)
Number of Active Homes on the Market: 10
Average Days on Market: 124
Median Home Price: $ 323,500

Jester Estates (Northwest Austin)
Number of Active Homes on the Market: 8
Average Days on Market: 127
Median Home Price: $ 423,700

Rob Roy (West Austin)
Number of Active Homes on the Market: 11
Average Days on Market: 202
Median Home Price: $ 1,250,000

Onion Creek (South Austin)
Number of Active Homes on the Market: 30
Average Days on Market: 142
Median Home Price: $ 310,950

Plum Creek (Kyle)
Number of Active Homes on the Market: 24
Average Days on Market: 71
Median Home Price: $ 143,825

Modern Home for the Holidays

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5517 Agatha Circle

I will be holding my listing on 5517 Agatha Circle on Sunday, December 12th from 1-4pm. This sophisticated home is located in Agave, a modern home community. Agave is a community of trendy, modern homes inspired by host of urban architects. Agave has been featured on the ‘Today Show’ and was voted Best Cubist Neighborhood in the Austin Chronicle.

3-story floor plan

 Main Floor: entry, 2 bedroom, 1 full bath, storage nook
 Second Floor: eat-in kitchen, living area, half bath, utility room with floor to ceiling storage, outdoor deck
 Third Floor: Master bedroom, master bath, flex room (could be nursery, office or yoga room), outdoor deck
 Ideal floor plan for guests, teens or roommates

Green Features in 5517 Agatha Circle

 Tankless water heater
 Low V.O.C interior paint
 Bamboo flooring
 Low-e glass in double-pane windows
 Polished concrete flooring on foundation level
 Composite exterior decking and fencing
 Spray foam icynene open cell insulation at roof
 BIBS (blown in blanket system) at walls
 Low-flow toilets
 Water-saving shower heads and faucets
 14 SEER HVAC system
 Programmable digital thermostats
 2-stage poly seal air infiltration system
 Energy Star-rated appliances
 Silestone counters in kitchen and bathrooms

Central East Austin Location

Less than 10 miles from Downtown and the University of Texas
Less than a 5 minute drive to 183

View:
UT Tower and Downtown from front lawn and 3rd floor flex room.

This will be my last open house of 2010.
When: Sunday, December 12th, 1 – 4 pm
Where: 5517 Agatha Circle
Directions: East MLK Blvd, to Sendero Hills Parkway, Right on Agatha Circle

It’s $3,000 carpet – not a $3 lipstick

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Home Colors vs. Personal Colors

Pantone has announced its color for 2011.  It’s Honeysuckle and you will see it everywhere. Here in Austin, I have seen great color schemes in homes, and of course, I have seen some poor choices.   Home color choices are not like clothing and makeup. With personal color choices you are working with individual skin tone.   Different colors and hues will complement your natural beauty.  Different colors enhance different people.  Personal color choices are also very temporary.

House colors are different, because they tend to be more universal in appeal.   If you are selling your home, the color scheme needs to appeal to the masses.   House colors affect our inner senses.   When done right, they inspire and relax.   When done wrong, they can enhance stress levels or depress you.   Choosing a color can be a long term commitment and investment, so neutral colors span the test of time.

Color your Home Happy

So, what are the rules for coloring your home?   The #1 rule is the simplest to follow – pick your palette from nature.   Green is a very soothing color to the eye.  It is relaxing.   That’s why actors are placed in ‘green rooms’, before they take the stage on a talk show.   A soft yellow is another great color to incorporate into a home. It is bright and cheerful.  Follow an Autumnal color palette, which appeals to all.  Think of browns and greens with touches of gold, yellow and red.

Buyers want a Blank Canvas


Can you use a bold color in your home? Sure, but use it sparingly.  It is often best to test a color, with a bedspread, pillows or even artwork.  See if you can ‘live’ with it, before committing to it with a slightly more permanent fixture.  Understand if you do plan to go with the honeysuckle carpet, be prepared to change it to a more neutral color before selling your home.  It will be hard for most buyers to see past the color and many will not want the task of re-carpeting after the purchase.  Bold color choices not only affect time on the market, but may affect your sales price as well.

Step 1: Call a Lender

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Tony Robbins is a pretty well known motivational speaker.  One of the things he is known for, are his Personal Power® seminars, which are designed to motivate and reorganize your life.  I had one of his first tapes years ago.  The first lesson was about making a list of the things you need to get done or want to do.  The advice he gave, which has always stuck with me, is to do what you have the least desire to do first. 

I have said this before, and you will hear me say it again, looking at homes is the fun part, so it’s the item on the list buyers want to do first.  Unfortunately, it should be last on your list.  The first thing you need to do is contact a lender.  Nowadays, it’s not just about what you get paid, but how you get paid. If you get a commission based salary, qualifying for a loan is different.  Your assets, debt and credit score are also significant factors in determining how much of a house you can afford.

I understand, talking to a lender is work and it takes time.  Look at it as a way of self assessing whether you really want to buy at house.  If it all seems like more trouble than its worth – you are not ready. If it seems logical to get a good idea of what you can afford, then you are ready to buy a house.  Looking at homes takes time. Buying a home takes even more.  Spending time looking at things you can afford will save you time, not to mention, unnecessary disappointment in the end.

Pride of Ownership doesn’t have a Price Tag

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Pride of ownership does not come at a price point.  Homes can be found that are either cared for or neglected, whether you spend $150,000 or 1 million.  Just because you are willing spend more money, doesn’t guarantee a home in better condition.  People have relationships with their homes (not unlike how they relate to other people).  If a problem arises, some choose to ignore it, while others attack it head on.  There is often a reality check for the owner, when it comes time to sell, when the problems can’t be ignored anymore.

Sellers often realize that what hasn’t been repaired or replaced, will ultimately cost them in the end.  Money makes things go away. Owners think they are simply saving money by ignoring foundation problems, roof repair or whatever else may be deficient.  In realty though, they are simply differing the payment to the sale.  The home is worth less to a buyer and will take longer to sell when systems are in need of repair or replacement.

78704 Property Tour

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Last week I went on a tour of homes in zip code 78704.  The tour covered Travis Heights to Barton Hills.  I saw some pretty interesting properties including a 1904 farmhouse which was moved here from Trall, Texas.  If you like older homes, it was absolutely amazing from the beaded trim on the doors, to the soaring ceilings.  It is truly something special.  Here is the link, along with some of the other properties I viewed. 78704 homes The pictures do not do the farmhouse justice.

On Sunday, June 27th, I will be holding one of the homes open on the tour, from 1 – 4pm.  500 E Mary street is located in the Travis Heights area of Austin, and has 3 bedrooms, 2 baths and is 1,394 square feet (tax record.)  The house sits on a large corner lot with live oaks trees and carport. Click the tour link above for more details.