Texas Realty Blog

Dee to Review Real Estate Blogging Book

The nice authors of the highly popular Realty Blogging book were gracious enough to send me a copy of their new release. They hoped it can provide insight or be helpful in some way. They'd appreciate it if I  reviewed the book and shared any new knowledge with our readers.

In the blogging spirit of sharing, I've agreed to do so. So far, I like the usefulness of the book and don't feel that I'd lose anything should I share what I've learned with my fellow real estate bloggers. I'd actually purchased the book a month ago and haven't been able to find it lately. Since the blogging gods have smiled upon me now and I have the Realty Blogging book again, I will post a review once I'm done.

Stay tuned...

Bill Gates Investing in Austin Real Estate

BILL GATES IN REAL ESTATE?

As reported by the Austin American Statesman...

Four Seasons Hotels Inc., the manager of 74 luxury hotels, agreed to be taken private by Microsoft Corp. Chairman Bill Gates, Saudi Prince Alwaleed Bin Talal and the companys chief executive officer for $3.8 billion, including debt.

The purchase does not affect the ownership of each hotel, just the management company. Shareholders will get $82 a share in the purchase, the Toronto-based company said in a statement. Isadore Sharp, Four Seasons CEO, will receive $289 million as part of the transaction.

Hotel companies have become takeover targets as travel to the worlds largest cities rises while the supply of new hotel rooms trails. Four Seasons, whose hotels include the Four Seasons in Austin, the George V in Paris and the Beverly Wilshire in Beverly Hills, Calif., operates in 31 countries. Alwaleed is bidding through Kingdom Hotels International, and Gates will purchase his stake through Cascade Investment LLC.

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So Gates may have more money than Trump, but it seems he's also smart enough to know a good town when he sees it. I have to admit that I am a Mac fan, so Steve Jobs needs to step it up a little. I can definitely help him find a nice condo in Downtown Austin.

Real Estate Lessons from Apple and McDonalds

Just a little something different today. Let us know if we're off track and if you prefer info about upcoming city council meetings and your normal real estate updates, etc.

I wrote an article that was featured on her ActiveRain blog last Wednesday. Like a few before, it touched some members of the audience there and got them to think. The basis of the article was to remind us that, as we negotiate and spend time speaking with people in real estate, there are many lessons, skills, and talents that we can learn from our business backgrounds.

EXCERPT:

My first job ever was at McDonalds Restaurant when I was a freshman in high school. I specialized in the drive-thu. I was the blaring voice who asked if I can take your order while you stared at a bright menu board outside. I enjoyed my years at Mcdonalds because I was able to make people happy each day with little effort. All I had to do was get the order right and avoid handing out cold french fries. If life was that simple, we'd all be less stressed.

My last job (before entering real estate), was as a Global Project Manager at Apple Computer. I started at Apple in Technical Support, where we got to listen to angry customers all day while solving their technical issues. I was thinking about how I do business today and realized that everything I learned about customer service came from these two companies...

The article covers key principles that will help you win deals and secure solid relationships in every transaction, but also as you deal with co-workers, employees, and even friends. Here are a few techniques:

From McDonalds: The customer is always right. Everyone is always right in their own minds. Communication is a two-way street and what we say won’t exactly match what the other person expects. We’re all different. If you say something in a way that makes sense to you, it has a good probability of still not being interpreted by the other person in the exact same way. Understanding and interpretation are based on your culture, education level, life experiences, and language skills. When communicating, keep in mind that the other person is always right since none of us read minds.

From Apple Technical Support: Avoid being too technical. Jargon is a relationship killer, especially in the beginning. Don't dumb down what you say, but target your explanations to your audience (the buyer or seller). Ask probing questions to find out how much they know about solving their own problem, then fill in the blanks. Reflect the level of terminology and know-how that the client displays.

From Apple Customer Service: Questions, Questions, Questions. Similar to the real estate mantra "location, location, location". If you want to fix something and make someone happy, ask good questions. The client should talk more than you do. If you're busy talking, you aren't listening. Learn how to ask good, open-ended questions such as "how can we help you feel comfortable with this?" or "what information would you like to have to make a good decision?"

Read the full blog article on ActiveRain.com and let us know what you think. We hope some of these lessons can be used as you negotiate in real estate or at least in other business settings.

Austin Mayor Will Wynn Plans to Adopt Clime Plan Today

UPDATE on our Previous Blog about Austin's New Proposed Energy Plan in case you didn't read it in the blog itself.

Here are further resources:

1. Download the Austin Climate Protection plan from KXAN's website.
2. The Austin Statesman also reported on concerns from the Austin Board of REALTORS, who serve as buyer and seller advocates in real estate.

The PLAN IS SCHEDULED FOR ADOPTION TODAY!

Frontier at Montana To Provide Affordable Housing in Southeast Austin

Southeast Austin will see a new, S.M.A.R.T built affordable housing development this year. The Austin housing Finance Corporation may continue to accept proposals from builders at the Frontier at Montana Subdivision in the Montopolis area of East Riverside. There are about 81 lots that will be completed. The proposal package is currently on the Austin Housing Finance Corporation website.

The package is meant for developers, but provides details for anyone interested in the project, including addresses of the lots.

CapMetro Building Transit Station in South Austin

City Council is meeting on the 15th to have their full-day session. Some of the agenda items are interesting. A transit station near Foremost Drive and South IH 35 has been in the works since last fall. The physical address that was cited is 7902 S I H 35 Austin, TX 78745-7325. The zoning is being changed in this area for a Transit Oriented Development (TOD) District.

According to public records, the design guidelines were established and is part of the current All Systems Go Plan. There will be a park and ride facility that starts at the Tech Ridge Park and Ride on IH35 North near Parmer Lane. This is important to home owners and investors in this area because CapMetro's plans include having retail services available at each location. Their vision is to have a place where we can drop off our cars, ride to work, and shop. They favor daily services such as dry cleaners, daycare, coffee shops, and other small retailers.

It's unknown how much growth will be in areas near Park and Ride facilities, but the commercial growth around Tech Ridge and other facilities was spurred in the past as the transit areas became operational.

Read more about the All Systems Go Plan online. Expect growth and development near these areas to increase as the plans are finalized.

Austin Mayor Will Wynn's Energy Plan Raises Concerns

Mayor Will Wynn announced Austin's long-term energy plan last week. According to News8Austin, "Austin Mayor Will Wynn wants the city to lead the country when it comes to global warming issues. He and council members laid out their plans on Wednesday.

Wynn called for the elimination of carbon dioxide from all city activities by 2020. He also wants all city buildings to be powered by renewable energy by 2012. By 2015, the plan calls for all new homes to be 100 percent energy efficient. Wynn also wants all other homes to have energy-efficient improvements before they're sold."

While this is a great step forward in some respects, many residents are concerned about having to upgrade all homes before they are sold. A secondary concern is that, according to engineers, 100% energy efficiency does not exist. The laws of thermodynamics can't be broken by our own mayor or even the president. We'd need to know who defines 100% energy efficiency and how homeowners can determine if their house meets those standards.

We were told that Mayor Wynn will introduce details of his plan during the Austin city council meeting this Thursday, February 15th. For now, we will keep our ears open for details and answers our questions. We hope Mayor Wynn has advisors who understand how his long-term energy plan can impact home sales in our area. There are many questions that need to be answered.

ISSUE#1: Who will enforce the guidelines of the energy plan?

According to current reports, home inspectors will certify whether homes meet the new energy standards.

1. Home inspections are not required, especially on cash transactions, so wouldn't we have to use city inspectors? If city inspectors are used, we need plans to prevent backlog to avoid delays in closings.
2. If the city plans to use licensed inspectors as "police" for this new policy, the state and/or city will have to introduce additional education criteria and training.
3. Who is at fault if the home inspector mistakenly certifies the property, but we later find that it's not up to the new code? What are the penalties?

ISSUE#2: Will these new requirements cause delays?

1. What happens if a seller is in foreclosure or needs to sell quickly? If these upgrades have to be completed before the final settlement, sellers who can't afford to wait are going to be in trouble.
2. How will this affect the bottom-line on new homes developments and pricing? Builders and developers are saying the new requirements and additional inspection process can increase their timelines by 6-7 months.
   

ISSUE#3: How much will these upgrades cost?

1. What if the home is worth less than the cost of upgrades?  If someone wants to "keep the bones" of the house, but it's not worth upgrading, will they be forced to tear it down instead?
2. If a seller cannot afford the upgrades, the buyer will need to upgrade the home. What programs will the city have for cases where the buyer cannot afford upgrades either?
3. What about buyers of foreclosed properties?  Does the City of Austin have the juridisction to force HUD, banks, and other foreclosing entities to follow their energy guidelines? It's unlawful to force buyers to pay for upgrades on properties that they don't own yet, so that's not a good solution.

Here's our solution: Austin can PROVIDE INCENTIVES for residential home buyers, sellers, and builders who follow the proposed energy guidelines. Austin currently gives incentive packages and tax breaks to large corporations, so let's do it for the little guys. This way, if someone wants to incur the additional expense, it's by choice and they are rewarded for their efforts. This creates good will, a more green Austin, and avoids some of the bad situations that I mentioned above.

Read the related news story: Wynn announces city’s long-term energy plan. Comment today and let us know what you think!

UPDATE: 2/14/07. Download the Austin Climate Protection plan from KXAN's website. The Austin Statesman also reported on concerns from the Austin Board of REALTORS, who serve as buyer and seller advocates in real estate.

The PLAN IS SCHEDULED FOR ADOPTION this Thurday!

Mueller Advisory Commission Meeting This Tuesday

The City of Austin posted the agenda for the upcoming Robert Mueller Advisory Commission meeting. For those of you who need to be updated on this highly-anticipated redevelopement in East Austin, search past archives or look in our East Austin category.

Read the full agenda online. Here is the location information:

Robert Mueller Municipal Airport (RMMA) Plan Implementation Advisory Commission
Tuesday, February 13, 2007
6:00 p.m. - 6:45 p.m.
Waller Creek Center
625 East 10th Street, Room 105

Online Real Estate Convention Starts Today

I've been a member of the Real Estate Cyberspace Society since I started as an agent. They provide the latest info on real estate news, tools, and technology. Society members get special discounts on industry products that are pretty cool. I think membership is only $350 per year or so.

I'd encourage agents, buyers, investors, and sellers to attend their annual convention just to hear more about what's happening in the industry. Maybe there are some technology tools or trends that interest you. The convention starts Sunday, February 19th through the 24th. 

Read more on their convention website: http://recyber.cyberconventions.com. Visit their site at Recyber.com to earn the RECS designation. I have the designation, but few people know what it is.

Austin City Design Commission Special Meeting Called for Monday Feb. 12th

The real estate Design Commission for the City of Austin has called a special meeting for Monday, February 12th, 2007. Room 2017, City Hall. 5:45. The purpose of the commission is to oversee residential and commercial design guidelines for the city. From the city site, they assist in developing public policy and to promote excellence in the design and development of the urban environment.

You can see the full agenda online, but here are some highlights.

Liaison Staff Project Updates:

• Urban Design Criteria Manual
• Commercial Design Standards
• Station Area Planning
• Downtown Plan
• Cesar Chavez Conversion
• Brazos & Colorado Reconstruction
• Residential Regulations Ordinance: Discussion and Possible Action.

Contact Chhabi Mishra, Neighborhood Planning and Zoning, (512) 974-2629 for more info.  Typical meetings are Fourth Monday of the month, 5:45 p.m., City Hall, 301 W. 2nd Street, Room 1101.