Texas Realty Blog

Gotcha Guide™: Green-ify Your Home Service Contract

NOTE: This article is part of the forthcoming book, the Gotcha Guide™ to Buying or Investing in Real Estate. by DeeinAustin™

I was elated to see the Home Warranty of America (HWA) announcement of their GreenPlus Program earlier this year.

GreenPlus is an upgrade to HWA's 13-month contract, which covers appliance and mechanical systems. GreenPlus makes Energy Star exchanges, replaces your water heater with a tankless version, and upgrades your heating system to 90% efficiency upon disrepair.

This is especially useful in Green cities like in Austin, where our mayor is preparing to roll out a Climate Protection Plan, requiring all Austin home owners to make green upgrades before they can sell their home.

The Dark Downside of Home Service Contracts

Top 10 Ways Find the Best Off-Market Deals in Your Area

By DeeinAustin™

Use this guide to learn how to find the best off-market deals in Austin or any U.S city by using common online and offline methods.

"Off-market" homes or investments are those not already listed in your area's Multiple Listing Service (MLS), which is provided by your local Board of REALTORS®. 

If you're an agent, buyer or investor looking for a good deal in commercial real estate, a home or land, non-MLS listings are the holy grail. You should also read our previous article on 33 Ways to find a Motivated Seller.

Top 10 Ways to Find Off Market Deals for the Best Price on a Home, Land, or Commercial Real Estate Property.

NOTE: If you're not an agent, you may need to get one to assist you.

10. "Drive for Dollars". Drive your area every 7 to 10 days to check for changes. Is there a new "For Sale By Owner" sign? Newspapers piling up on a doorstep? Home gone further into disrepair? Home being fixed up a little? You may have an owner ready to sell soon.

9.Out-of-town owners. Check your tax appraisal records for owners with addresses in another state or city. Send them a letter or offer directly. The further they live, the better the deal.

Gotcha Guide™: The Truth about Texas Non-Disclosure Laws

NOTE: This article is part of the forthcoming book, the Gotcha Guide™ to Buying or Investing in Real Estate. by DeeinAustin™

Imagine this scenario. You just moved into your new home at 123 Main Street a few days ago. The garage is filled with boxes, you haven't yet found the nearest post office, and all of your new neighbors still look suspicious.

You go to the mailbox to find an over-sized postcard in your mailbox. It's from your buyer's agent. They sent it to the entire neighborhood. The postcard reads, "I just SOLD 123 Main Street for $354,500!"

GASP. All of your neighbors now know exactly how much you paid for your home!

But they can't do that! Texas is a non-disclosure state, right?

The short answer: YES! Texas is a non-disclosure state. BUT: According to the National Association of REALTORS®, being a non-disclosure state does not preclude anyone from publishing sold information. It means we are not REQUIRED to put sold information in public records.

WHY NATIONAL ASSOCIATION OF REALTORS® (NAR) STEPPED IN TO CLARIFY TEXAS NON-DISCLOSURE

Gotcha Guide™: How to Sell Your Home for More Money in a Faster Time Using Automated Feedback

NOTE: This article is part of the forthcoming book, the Gotcha Guide™ to Buying or Investing in Real Estate. by DeeinAustin™

Want to guarantee that your home will be sold faster than the competition? Send for feedback after showings! Well, it's not that simple. Agents rarely send feedback.

Need proof? Here's my non-scientific, completely off-the-cuff experiment:

HYPOTHESIS: Despite having a guaranteed positive return, real estate agents rarely send or receive feedback because takes too much extra time and effort. This is too bad for the seller because the process is very simple and useful.

THE PROCESS: I visited 20 houses last week within a 2-day period. I used an electronic Supra ekey so the agent can automatically see that I've visited the home.

THE RESULTS: I received 1 feedback request within 24 hours. I then received another request this week.

That's it! Out of 20 homes, only 2 agents bothered to ask me for feedback. Of the two, only one sent it within a reasonable time-frame so I could best remember the home.

THREE AUTOMATED TOOLS THAT TAKE THE EXCUSE OUT OF NOT SENDING FEEDBACK

Stop Timing the Market and BUY!

By DeeinAustin™

U.S. interest rates fell in February, creating a more brisk real estate market in Austin and other areas of the country.

Sorry to report, but rates are rising almost every week. Buyers are now faced with a common dilemma in today's buyer markets. They often  ask...

"If home prices are still going down, should I wait to purchase until later this year?"

The short answer is no. It's not smart to time the market. My advice to first-time, move-up, and relocating buyers: buy when it's the right home at the right time for you.

THREE REASONS WHY NOW IS A SMART TIME TO BUY

Trend Spotlight: Modern Prefab (Modular) Homes in Austin

By DeeinAustin™

Earlier this week, we discussed the Boomerang Home Buyer trend in Central Austin. A style gaining popularity since 2005 is Prefab Modern, also called modern modular. 

Modern prefab (modular) homes can be designed to suit a variety of tastes and price ranges.

In a previous post, we debunked the myths of prefabricated homes. Top benefits included solid construction, shorter build times and green techniques.

WHAT'S SO COOL ABOUT MODERN PREFAB?

Most modern prefab home have green, sustainable elements. The companies in Austin use green construction materials, have less on-site waste, and use energy-efficient appliances. Modern prefab styles can be seen in all areas of Greater Austin, including popular "suburban" areas like Dripping Springs, Leader, and Buda.

TOP 5 TIPS TO AVOID THE DOWNSIDE OF PREFAB MODERN HOMES

Gotcha Guide™: 5 Quick and Easy Green Building and Remodeling Fixes that Won't Break the Bank

NOTE: This article is part of the forthcoming book, the Gotcha Guide™ to Buying or Investing in Real Estate. by DeeinAustin™

Today, we're continuing with Green Week here at Texas Realty Blog. If you haven't already read our first post, take a look at Green Real Estate Events in Austin and Texas in Spring 2008.

QUICK INTRO TO GREEN BUILDING AND GREEN REMODELING

Green homes don't have to be odd-shaped and made out of materials that aren't normally seen in your neighborhood. According to EcoManor the most efficient green homes have the following characteristics:

Environmentally-sound materials
 Energy-efficient appliances
 Recycled & Locally-sourced materials
 Rain water collection
 Drought-resistant landscaping
 Natural, chemical-free insulation
 Low-flush toilets
 Natural cleaning products

TOP 5 QUICK, LOW-COST FIXES THAT YOU CAN DO TODAY FOR BETTER GREEN LIVING

Gotcha Guide™: Don't Let "Some Dude" Handle Your Short Sale Preforeclosure

NOTE: This article is part of the forthcoming book, the Gotcha Guide™ to Buying or Investing in Real Estate. Email us to join the mailing list for the release date. by DeeinAustin™

Here's a sentence I bet you never thought you'd never see. Did you know that Brittany Spear's ex, Kevin Federline, can try to help a seller avoid foreclosure using a short sale?

I'll explain how to avoid foreclosure using a short sale later, but first...

A POP QUIZ:

WHAT CRITERIA MUST BE MET TO HELP A SELLER IN FORECLOSURE WITH A SHORT SALE?

A) Be a backup dancer, rapper wannabe, and divorceé of an out-of-shape pop singer.
B) Hold a valid real estate license.
C) Take a special short sale introduction course.
D) Obtain a short-sale certification prior handling the first listing.
E) None of the Above.
F) Both B and C.

Correct Answer: Although "A" is my favorite, the answer is...
E-NONE OF THE ABOVE. Even Kevin Federline (AKA "Some Dude") can "help" a seller with a short sale preforeclosure!

WHY THE THOUGHT OF "SOME DUDE" HANDLING YOUR SHORT SALE IRKS ME

Gotcha Guide™: Top 5 Tips to Avoid the Bite of a Bad Property Management Agreement

NOTE: This article is part of the forthcoming book, the Gotcha Guide™ to Buying or Investing in Real Estate. Email us to join the mailing list for the release date. by DeeinAustin™

I'm a member of the Texas Association of REALTORS® (TAR) and normally like the forms they provide for consumer use. This post is based on my experience helping a friend negotiate a property management agreement provided by the Texas Association of REALTORS®.

Perhaps I was naive, but I was surprised at how much the standard language in the Texas Association of REALTORS® (TAR) property management agreement was biased in protecting the property manager's interests. I respect the job that Austin property managers do, but couldn't let my friend sign without striking half the clauses.

Before becoming a real estate broker, I was a landlord. I used the Texas Apartment Association (TAA) forms.  

The "standard" Texas property management agreement, "Residential Leasing and Property Management Agreement" (Form TAR-2201), was easily skewed by the property manager, who protected themselves while charging my friend additional costs that the contract allowed.

GOTCHA GUIDE™: TOP 5 TIPS TO SNAP BACK AT BAD PROPERTY MANAGEMENT AGREEMENTS

Gotcha Guide™: Agent Bonuses are Bunk! Offer Real Incentives

NOTE: This article is part of the forthcoming book, the Gotcha Guide™ to Buying or Investing in Real Estate. By DeeinAustin™

Now that the mortgage market isn't so hot, builders and home sellers are super hot-to-trot on buyer agent bonuses. They think agents will be more motivated to show their homes if offered extra monetary incentives.

Here's how a buyer agent incentive is cooked up:

INGREDIENTS & DIRECTIONS (TASTY BUYER AGENT BONUSES)

Step 1:Take 2 cups of a Seller with an over-priced home.

Step 2: Whip in a heaping mound of a Cooled Real Estate Market.

Step 3: Drizzle in 1/2 teaspoon of a Listing Agent willing to "try anything".

Step 4: Pile on $5000 worth of a Buyer Agent Bonus.

Finally: Sparingly sprinkle on Potential Home Buyers and Top with a Smart Buyer's Agent.

COOKING INSTRUCTIONS: Half-bake until the home is taken off the market, the seller lowers the price, or you offer a real incentive that meets the buyer's needs.

WHY BUYER AGENT BONUSES SOMETIMES WORK