Archive for June, 2008
SHOW OF HOMES IN DOS LAGOS OF DRIPPING SPRINGS
June 27th, 2008 Categories: Dripping Springs Area News, Dripping Springs Real Estate News
Hill Country Living at It’s Best!
Open House Sat & Sun June 28th - 29th 1pm - 4pm !
Don’t Miss This Opportunity to Tour the Finest Homes in Dripping Springs, with Exemplary Schools, on Superb Acreage lots. Dos Lagos is Located Just 4 Miles West of Ranch Road 12 on Hwy 290 West, Take a Left into the Majestic Gates of Dos Lagos.
Call (512) 636-2746 for More Details
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Austin Texas Real Estate Market in the top 10…again!
June 23rd, 2008 Categories: Austin Area News, Austin Real Estate News
Hello there Bloggers,
I came across the website below. The site shows Austin ranked #7 nationally on the list of top 25 appreciating housing markets.
As you know Austin and the surrounding area is constantly on the top of real estate markets through out the country. With all the negative media being broadcast, I love the opportunity to show readers that despite what the media had to say…WE ARE IN A GREAT MARKET!!!
Here is the link : http://www.housingpredictor.com/top2008.html
This blog brought to you by Jeremy K. Frost Realtor & Real Estate Blogster
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Austin and the Austin Real Estate Market is one of the nations best!
June 19th, 2008 Categories: Austin Area News, Austin Real Estate News
I ran across this great article from www.Kiplinger.com and wanted to share it with our readers:
These ten great places will only get better.
Our approach this year to picking the ten best cities in which to live and work was simple: Look for places with strong economies and abundant jobs, then demand reasonable living costs and plenty of fun things to do. When we ran the numbers, some of the names that popped up made us do a double take at first. So we hit the road to meet movers, shakers and regular folks, experience the ambience and take in the sights.
| More from Kiplinger.com:• Top Ten Best Cities at a Glance |
We discovered that our numbers guru, Kevin Stolarick, hadn’t steered us wrong. Stolarick, research director at the Martin Prosperity Institute, a think tank that studies economic prosperity, says: “Our formula highlights cities not just with strong past performance, but also with all the ingredients for future success.” One key to a bright future is a healthy shot of people in the creative class. People in creative fields — scientists, engineers, architects, educators, writers, artists and entertainers — are catalysts of vitality and livability in a city.
The cities that made our list also represent larger surrounding areas, and because we understand that city living isn’t for everyone, we’ve highlighted some great suburbs, too.
Pack a bag and join us on a tour of the Best Cities for 2008 and prepare for some surprises.
1. Houston
Population: 5,542,048
Population Growth Since 2000: 14.9%
Percentage of Workforce in Creative Class: 31.3%
Cost-of-Living Index: 88.1 (100 being national average)
Median Household Income: $50,250
Income Growth Since 2000: 13.1%
2. Raleigh
Population: 995,662
Population Growth Since 2000: 19.9%
Percentage of Workforce in Creative Class: 36.1%
Cost-of-Living Index: 99 (100 being national average)
Median Household Income: $56,150
Income Growth Since 2000: 10.3%
3. Omaha
Population: 821,356
Population Growth Since 2000: 6.6%
Percentage of Workforce in Creative Class: 30%
Cost-of-Living Index: 89.4 (100 being national average)
Median Household Income: $51,627
Income Growth Since 2000: 15.1%
4. Boise
Population: 568,086
Population Growth Since 2000: 18.2%
Percentage of Workforce in Creative Class: 33.2%
Cost-of-Living Index: 95.5 (100 being national average)
Median Household Income: $49,833
Income Growth Since 2000: 16.6%
5. Colorado Springs
Population: 600,444
Population Growth Since 2000: 10.5%
Percentage of Workforce in Creative Class: 34.1%
Cost-of-Living Index: 95.3 (100 being national average)
Median Household Income Since 2000: 53,486
Income Growth Since 2000: 16.1%
6. Austin
Population: 1,506,425
Population Growth Since 2000: 17%
Percentage of Workforce in Creative Class: 36.5%
Cost-of-Living Index: 92.8 (100 being national average)
Median Household Income: $52,882
Income Growth Since 2000: 12.2%
7. Fayettville
Population: 419,455
Population Growth Since 2000: 17.3%
Percentage of Workforce in Creative Class: 31.4%
Cost-of-Living Index: 90.4 (100 being national average)
Median Household Income: $42,267
Income Growth Since 2000: 17.6%
8. Sacramento
Population: 2,067,117
Population Growth Since 2000: 13.1%
Percentage of Workforce in Creative Class: 34%
Cost-of-Living Index: 121.7 (100 being national average)
Median Household Income: $56,953
Income Growth Since 2000: 19.1%
9. Des Moines
Population: 532,425
Population Growth Since 2000: 9.6%
Percentage of Workforce in Creative Class: 32.1%
Cost-of-Living Index: 90.6 (100 being national average)
Median Household Income: $53,384
Income Growth Since 2000: 16.3%
10. Provo
Population: 474,351
Population Growth Since 2000: 20.6%
Percentage of Workforce in Creative Class: 32%
Cost-of-Living Index: 97.7 (100 being national average)
Median Household Income: $50,583
Income Growth Since 2000: 12.2%
This blog brought to you by ~ Jeremy K. Frost REALTOR & Real Estate Blogster www.AustinHomeAndLand.com
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Hot Summer Deals In Highpointe Of Dripping Springs!
June 17th, 2008 Categories: Dripping Springs Real Estate News
Experience luxurious hill country living at Highpointe of Dripping Springs.
Soak up the sun in Highpointe’s multiple pool complex or get that bathing suit ready with a two story world class fitness center. Summer days are perfect for firing up the grill for family gatherings in your home’s over-sized backyard. Or just take a majestic summer sunset stroll through the miles or neighborhood trails.
Work from home this summer with the residents Wi - Fi network and office / meeting room. Besides you will want to stay close to home with the residents club house and full kitchen ready and waiting for those summer parties!
Homes in Highpointe are offering great summer time incentives with unbelievable interest rates starting at 3.375% for the first year.
Contact me today to find out about these sizzling summer deals and if you have a home to sell currently don’t forget to ask about our spectacular move up program. ~ Jeremy K. Frost REALTOR & Real Estate Blogster
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Austin Real Estate Market Update
June 6th, 2008 Categories: Austin Real Estate News
Here are 5 interesting facts that were recently released by the Austin Chamber of Commerce:
5) In the past 10 years, Austin’s population has increased by almost a half a million people.
4) 1,000 persons per week are moving into the Austin area.
3) 129 companies relocated to Austin since 2004
2) The average income for the Austin Hi Tech worker is over $80K
1) By the year 2030 Austin area population is predicted to be 3.5 million
For more information regarding the Austin Real Estate Market or if you are thinking of buying / selling in the area contact Jeremy K. Frost REALTOR & Real estate Blogster 512-636-2746
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It’s a Buyers / Seller’s Market in Austin Texas !?!?
June 3rd, 2008 Categories: Austin Real Estate News
Here is an article about I ran across from The New York Times that I wanted to share with our readers. This article looks at a national overview of the real estate market, we however continue to see a strong market in the Austin area and throughout Texas!
Your Money
Letters From the Home Front: A Real Estate Deal Seen From 2 Sides
By RON LIEBER
Published: May 31, 2008
A few years ago, when multiple bidders would show up at a real estate open house, the truly desperate resorted to writing love letters to the sellers.
Their plaintive scribblings painted a picture of first-time buyers chasing the American dream or growing families hungry for more space. The letters dripped with compliments for the property and ended with a plea for mercy (and a signed contract).
Today’s real estate market, however, calls for a different kind of letter, less a fuzzy valentine and more like a cold splash of water. It’s what you write to accompany a bid that is so far below the listing price that it cries out for explanation.
Inspired by the success of a friend who used this tactic, I drafted a sample letter that buyers who fear overpaying might send to homeowners. Then, I crafted a reply that confident sellers could fire back.
No seller would be happy to get a letter like this. The most powerful missives stoke doubt and create fear. Sellers who get them may be tempted to write off the bidders as lowballers. But it makes little sense not to at least reply, given the number of competing properties in most places and the difficulty lately in getting mortgages.
The sample letters which I wrote after conversations with representatives of the National Association of Realtors and the National Association of Exclusive Buyer Agents, don’t mention local economic conditions, comparable sales or other such data. You’ll want to fill in those details yourself. But the templates below should work as a starting point.
One caveat is that you’ll generally be relying on real estate agents to deliver your letter. Ask them point blank whether they intend to do so.
Dear Seller:
I’m writing to let you know that I would like to make a bid on your property. I love the area and am committed to buying a house nearby. And your home fits my needs.
But given that my offer is well below your asking price, I also feel I owe you an explanation.
First, consider the big picture. Nationwide, home prices in the first quarter of 2008 fell 14.1 percent compared with the same period a year earlier, according to the Standard & Poor’s/Case-Shiller U.S. National Home Price Index.
That’s the biggest decline in the 20-year history of the data. And just in case you’re wondering, during the housing downturn of the early 1990s, the decline was never worse than 2.8 percent.
Not only that, earlier this month, the National Association of Realtors pointed to the huge number of existing homes on the market. As of the end of April, the total number was 4.55 million. At the rate people are buying right now, that represents an 11.2-month supply.
So buyers have options right now. A lot of them. I’m no different. Your home is great, but it isn’t unique. Few homes are. I know this may be hard to hear, since you’ve spent years creating memories here. But you may be waiting a long time if you hope to find a buyer with the same emotional connection that you have.
My mindset is hardly unique. We’ve all been reading the headlines. The accompanying articles appear prominently in major newspapers and sit on the Web pages where people check their e-mail every day. Everyone sees them, and the psychological impact is real.
Has your real estate agent laid any of this out for you? Maybe so, and you didn’t want to believe it. But it’s also possible that your agent, afraid of offending you and losing the listing, simply doesn’t want to initiate that sort of discussion. It may be worth sitting down for a candid reassessment.
It will be tempting to view my low bid as an insult. Please don’t make that mistake. Your home is genuinely appealing, and I wouldn’t have written this note unless I was serious about buying it. Getting a firm offer in this market is an accomplishment. So congratulations!
Oh, and one more thing. You presumably need someplace to move. My guess is that you’ll find these same points compelling when it’s your turn to buy. You just might succeed in buying for a better price, too.
I look forward to hearing from you soon.
Yours Truly,
The Realist
***
Dear Bidder,
Thanks so much for your note. I’m truly glad that you like our home as much as we do. You’re right that my family and I have many great memories of this place, and we hope someday you will, too.
And I just want you to know that I’m not insulted in any way by your offer. The fact is, none of us are very good at buying and selling homes. We don’t do it often, and as much as we know we’re not supposed to let emotions get in the way, it’s hard not to. After all, few people buy or sell anything else as expensive as a home in their lifetimes.
That said, your offer disappointed me. You seem to believe that I’m not aware of how bad things are out there or that I’m in denial. But I do read the headlines, and I priced the house accordingly.
I should point out that your data draws on what has already happened in the housing market. Instead, I’d ask you to consider what’s about to happen.
One big reason for the falling prices is that it’s harder to get mortgages. Lenders went from giving money to anyone with a pulse to demanding higher credit scores and larger down payments. All sorts of buyers simply couldn’t make the numbers work anymore.
That may now change. Starting June 1, Fannie Mae and Freddie Mac, which buy mortgages from lenders and help make it possible for them to lend more money, are loosening restrictions on the sorts of loans they’ll buy in many markets. That is supposed to make it easier for people to buy a home with a down payment of 5 percent, or even less. Many more qualified buyers should mean more bids, and I’m willing to wait to see if it turns out that way.
I know you talked about having choices, but presumably we wouldn’t be engaging in this correspondence unless you liked my home best. Given that, I’d ask you to think about something: How often do you find a place that you can actually imagine living in? Sure, there are a lot of other properties out there. But an increasing number are in foreclosure and probably have problems lurking within the walls. So don’t let fear of a falling market keep you out of a home that you truly want.
It’s probably obvious by now that I’m not going to counter with a particular number. This doesn’t mean that I do not want to negotiate. I’d just like you to consider what I’ve said and see if you find it convincing. In the meantime, other shoppers who are interested in my home now have a price to beat. So thanks for helping me out with that.
Just one more thing. Please take another look at whatever mortgage calculator you’re using and see how your monthly payment will change if you brought your price up a bit. It almost certainly is not going to be enough to break you. But it may be enough to get us to a deal.
I look forward to your reply.
Yours,
The Undaunted
This blog brought to you by Jeremy K. Frost REALTOR & Real Estate Blogster
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