Texas Realty Blog

New 'Austin Real Estate Today' Community Website to Launch in April. We're Moving!

By DeeinAustin™

We're excited to announce big changes to the Texas Realty Blog website!

Upgrades will occur within the next few weeks and completed by end of April. Planning has been in the works since last Fall to create an interactive Austin Real Estate community.

You spoke. We listened. Here is the Press Release Sneak Peak...

"AustinRealEstateToday.com is the virtual water-cooler and interactive online community for Austin real estate news, developments, builder alerts, market updates and insight."

Top 'Austin Real Estate Today' Features That You're Going to Love

Spotlight: Maravilla Custom Home Builder Cancels TRCC License, Receives Complaints for Involvement

By DeeinAustin™

This Friday's story focuses on Austin custom home builder involved with Maravilla. (NOTE. The builder has not been indicted for charges, so names will be kept anonymous.)

According to readers, local sources, and information available to the public, a 'Maravilla Builder' may soon be under investigation by several Texas legal authorities for accusations around their involvement in Maravilla, a subdivision that resulted in Texas Builder Mike Kelly filing bankruptcy.

Kelly confessed to an agreed order from Texas Residential Construction Commission (TRCC) for his actions.

One Maravilla Builder's license was deactivated in February for reasons unknown to us.

We were told that current accusations from private individuals against a Maravilla  Builder include:

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.

Austin Real Estate Update: "Houston, We Have a Glut of Inventory"

By DeeinAustin™

Last month, I reported that home sales in North and South Austin were doing well despite a down market from last year. At that time, previously "hot" areas such as Central East Austin and the South Congress area (78704) were suffering. Those trends continued in February.

View the Slideshow for the latest Austin real estate market statistics, based on February MLS data from the Austin Board of REALTORS®. Click to Download the February Update (copywritten).

| View | Upload your own

AUSTIN REAL ESTATE MARKET SUMMARY- FEBRUARY 2008

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

$2.5 Billion Villa Muse Takes Titanic Downturn after Critical Austin City Council Vote

DeeinAustin™

The Titanic-sized Villa Muse development is in trouble and sinking fast.The viability of the project in Austin took a controversial downturn after Austin City Council narrowly denied their request to release acreage in East Travis County.

As a result, News 8 Austin reported that developers are seeking bids from other cities.

You may recall that Villa Muse consists of a mixed-use arts and entertainment community and complex. The slated location is in East Travis County near Manor, just outside of Austin's jurisdiction.

Villa Muse is an extremely critical decision for Austin. The $2.5 billion project promises up to 110,000 jobs.

WHAT'S SO CONTROVERSIAL ABOUT VILLA MUSE?

Austin Real Estate District Spotlight: Austin's Southtown, Lower Congress Area

By DeeinAustin™

Today's spotlight is on SouthTown Austin, a growing area of South Austin that lacked the media attention of it's popular cousins in the SoCo (South Congress) and SoLa (South Lamar) Districts.

SouthTown Austin has been quietly booming for the past few years. Home prices steadily rose. The area is affordable, ripe for rehabs, and ready for new construction. The latest Austin real estate update showed South Austin homes selling in 30 days, SouthTown included.

SouthTown may share the same fate as SoCo, which now has too many condos coming. The Austin Statesman published an article entitled, "It's called LoCo and it's getting a redo".

WHERE IS THE SOUTHTOWN DISTRICT(aka SOUTH SOCO, SOUTH SOLA, LOCO, LOWER CONGRESS)?

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