Texas is raising speed limits on certain highways. Wet weather and increased speed limits can be a recipe for disaster - be careful out there....
Speed limits going up on area highways
Monday, December 19, 2011
Saturday, December 17, 2011
LCRA cuts off farmers | beecavebee.com
It's about time that LCRA made this move and cut off the rice farmers. Lake Travis has been devastated by several years of drought and lake levels have become dangerously low.
LCRA cuts off farmers | beecavebee.com
LCRA cuts off farmers | beecavebee.com
Friday, December 16, 2011
Year-End To-Do List
Just in case you don't have enough to do at this time of year, these are great reminders of some things to do that make sense, financially. Happy Holidays!
Year-End To-Do List
Year-End To-Do List
Saturday, October 29, 2011
Dr. Jim Gaines Austin Market Update - Paragon Property Group
Dr. Jim Gaines Austin Market Update - Paragon Property Group
Stacey Nelson of Paragon Property Group has created a video with a market update for the Austin, Central Texas Home Market.
Stacey Nelson of Paragon Property Group has created a video with a market update for the Austin, Central Texas Home Market.
Tuesday, October 25, 2011
A New Identity for Packsaddle Golf Course in Kingsland, TX
Packsaddle Country Club in Kingsland has new owners and a new name, along with new management. The course is now the Lighthouse Country Club, names for the new owner's Midland-based business, Lighthouse Energy Solutions. The owners, Rick and Mercy Howe are embarking on a new adventure with this project and are looking forward to a successful future, along with the new general manager, Al Pryor.
The club's previous owners filed for bankruptcy in 2008. The Howe's are cleaning up and reinvigorating the course and have changed the 18th hole from a par 4 to a par 3.
We look forward to this new entity becoming a beacon of light into the community and to their success.
Sue
The club's previous owners filed for bankruptcy in 2008. The Howe's are cleaning up and reinvigorating the course and have changed the 18th hole from a par 4 to a par 3.
We look forward to this new entity becoming a beacon of light into the community and to their success.
Sue
Thursday, October 20, 2011
Texas Mortgage Policies and Home Price Appreciation
Texas Mortgage Policies and Home Price Appreciation
Read this great article about how and why Texas fared better in the recent real estate downturns nationally.
Read this great article about how and why Texas fared better in the recent real estate downturns nationally.
Monday, July 11, 2011
Sunday, April 17, 2011
Is it Time to Buy Real Estate Again in Austin and Central Texas?
Is it time to buy a home? It is a question that many ask and the answer is different for every potential buyer...there are many factors that enter into the decision making process. I'd like to talk about the top from an Austin and Central Texas perspective.
I recently read an article by CNN's Shawn Tully, "Real Estate: It's Time to Buy Again", published on March 28, 2011.
The article references comments by the founder of Metrostudy, Mike Castleman, who lives right here in our neck of the woods, in Dripping Springs, Texas. The company analyzes housing/construction markets in 19 different markets, including Texas. Their client list features large corporations such as Bank of America, Wells Fargo, Pulte and KB Home.
One of Metrostudy's prime functions is to determine whether a market has a housing shortage or a housing surplus for new homes.
What the study finds is that in the 41 cities studied (including Austin), there is currently less than 1/4 of the vacant, for sale or under construction new homes that were available during the peak in 2006. If buying levels begin to increase, Castleman believes that we will have an incredible shortage.
So what does this mean for you, the consumer? The way I read it, housing prices are about to begin increasing again. If you are waiting for a market bottom, you have probably missed it. Will we see the incredible appreciation of past years? Gosh, I hope not! What we saw several years ago was not sustainable nor was it a healthy increase-it was a bubble. Slow and steady is the way to go and I certainly hope that's where we are headed.
Over time, real estate has historically been a good investment, with positive appreciation over time. But, just like any investment, it is often about hold time and market timing.
Austin, and Texas overall, have done better than most markets. We did not see prices degrade as much or as many foreclosures. Right now the bulk of our foreclosures seem to be in certain areas and in particular price points. I'm still seeing a lot of short sales and foreclosures in the under $200K category in areas such as Pflugerville, Hutto, Buda and Kyle.
Luxury or high-end buyers may find some great deals too - high dollar properties were overbuilt during the boom, so there is still some inventory at very attractive prices. Jumbo loans are more readily available now, too.
Most other areas in Austin and price points are actually faring quite well. Some homes are coming on the market right now and getting multiple offers and selling for full price. I think the turn has definitely started.
In Austin, particularly, vacancy rates for residential rentals are decreasing and that will generally begin to push rental rates upward. Unfortunately in the past year, our usual building patterns changed and new rental inventory is not coming on line at the same rate as in previous years, so that will also stress the market further with fewer new rental units being built. It will be harder to find a decent rental property and the rates will likely be higher going forward, some of the factors of a short supply.
I recently put a house on the market for lease in Austin. Within 2 days, I had 30 phone calls, 5 applications and more coming...all this for a well kept, updated small 2 bedroom/1 bath home in a convenient location, priced at $1250/month. That has to tell you something......
If you are currently renting, it may be time to look at buying....
Many people that I speak with are paying between $1200-$1800/month to rent a property. If you are paying that much in rent, it may make more sense to buy right now. What do you need to buy?
(1) Good Credit - this is probably the single most important factor in the process. Pay your bills on time, don't carry too much on credit and you'll generally be fine.
(2) Money for a down payment and closing costs. FHA loans require only 3.5% down. USDA has loans in some areas and will provide 100% financing. Conventional loans are available for 5% down. Closing costs can often be wrapped into the loan or the seller may provide some closing cost assistance. Another option, if you qualify: The Bond 77 Program provides the down payment for you (up to 4% total) and is paid back upon sale of the property.
So buying a home, even for first time home buyers, is very do-able. I have worked with three buyers recently in different areas, all with different scenarios, and all 3 qualified for homes ranging in price from $130K-$200K.
We are in a rather fortunate position in the Austin area, we have job creation, we have people moving to our area and we are a sought after place to live. Interest rates are low (but starting to rise) which means that buying power is high.
Now is probably a great time to buy a residence or an investment property to lease out, particularly in the greater Austin area.
I recently read an article by CNN's Shawn Tully, "Real Estate: It's Time to Buy Again", published on March 28, 2011.
The article references comments by the founder of Metrostudy, Mike Castleman, who lives right here in our neck of the woods, in Dripping Springs, Texas. The company analyzes housing/construction markets in 19 different markets, including Texas. Their client list features large corporations such as Bank of America, Wells Fargo, Pulte and KB Home.
One of Metrostudy's prime functions is to determine whether a market has a housing shortage or a housing surplus for new homes.
What the study finds is that in the 41 cities studied (including Austin), there is currently less than 1/4 of the vacant, for sale or under construction new homes that were available during the peak in 2006. If buying levels begin to increase, Castleman believes that we will have an incredible shortage.
So what does this mean for you, the consumer? The way I read it, housing prices are about to begin increasing again. If you are waiting for a market bottom, you have probably missed it. Will we see the incredible appreciation of past years? Gosh, I hope not! What we saw several years ago was not sustainable nor was it a healthy increase-it was a bubble. Slow and steady is the way to go and I certainly hope that's where we are headed.
Over time, real estate has historically been a good investment, with positive appreciation over time. But, just like any investment, it is often about hold time and market timing.
Austin, and Texas overall, have done better than most markets. We did not see prices degrade as much or as many foreclosures. Right now the bulk of our foreclosures seem to be in certain areas and in particular price points. I'm still seeing a lot of short sales and foreclosures in the under $200K category in areas such as Pflugerville, Hutto, Buda and Kyle.
Luxury or high-end buyers may find some great deals too - high dollar properties were overbuilt during the boom, so there is still some inventory at very attractive prices. Jumbo loans are more readily available now, too.
Most other areas in Austin and price points are actually faring quite well. Some homes are coming on the market right now and getting multiple offers and selling for full price. I think the turn has definitely started.
In Austin, particularly, vacancy rates for residential rentals are decreasing and that will generally begin to push rental rates upward. Unfortunately in the past year, our usual building patterns changed and new rental inventory is not coming on line at the same rate as in previous years, so that will also stress the market further with fewer new rental units being built. It will be harder to find a decent rental property and the rates will likely be higher going forward, some of the factors of a short supply.
I recently put a house on the market for lease in Austin. Within 2 days, I had 30 phone calls, 5 applications and more coming...all this for a well kept, updated small 2 bedroom/1 bath home in a convenient location, priced at $1250/month. That has to tell you something......
If you are currently renting, it may be time to look at buying....
Many people that I speak with are paying between $1200-$1800/month to rent a property. If you are paying that much in rent, it may make more sense to buy right now. What do you need to buy?
(1) Good Credit - this is probably the single most important factor in the process. Pay your bills on time, don't carry too much on credit and you'll generally be fine.
(2) Money for a down payment and closing costs. FHA loans require only 3.5% down. USDA has loans in some areas and will provide 100% financing. Conventional loans are available for 5% down. Closing costs can often be wrapped into the loan or the seller may provide some closing cost assistance. Another option, if you qualify: The Bond 77 Program provides the down payment for you (up to 4% total) and is paid back upon sale of the property.
So buying a home, even for first time home buyers, is very do-able. I have worked with three buyers recently in different areas, all with different scenarios, and all 3 qualified for homes ranging in price from $130K-$200K.
We are in a rather fortunate position in the Austin area, we have job creation, we have people moving to our area and we are a sought after place to live. Interest rates are low (but starting to rise) which means that buying power is high.
Now is probably a great time to buy a residence or an investment property to lease out, particularly in the greater Austin area.
Sue Ellett, Broker-Associate
Coldwell Banker United Realtors
Paragon Property Group Team
www.PPGTx.com
866-693-7741
Austin/Lake Travis & the Highland Lakes
Coldwell Banker United Realtors
Paragon Property Group Team
www.PPGTx.com
866-693-7741
Austin/Lake Travis & the Highland Lakes
Marble Falls Events and Things to Do - April/May 2011
April 15-17
* PAINT THE TOWN - Plein Air Painting Contest throughout the area with auctions, artist receptions, and more
April 16
* SPAY/NEUTER CLINIC with Pet Pals (Prevent a Litter Society)
* 10:00 AM - 2:00 PM Children's Day Celebration * FREE day of fun activities, food, games and entertainment for the children of Highland Lakes / contact Ely for more details 830/693-7398
* 1:30 PM Rotary Golf Tournament in HSB / 830/693-3505
April 21
* 5:30 PM - 7:00 PM Chamber Mixer at Julie's Cocina in Cottonwood Shores / 4119 HWY 2147 Unit 1 / 830-265-5804
April 23
* 9:00 AM - 4:00 PM Chamber sponsored CITYWIDE GARAGE SALE at Johnson Park / Pat Burton / 830/693-5758
April 29
* 6:00 PM 17th Annual Charity Golf Tournament (For Ladies Only) * Fun-filled Social Mixer and Fiesta Dinner hosted by Highland Lakes Service League/ $65 pp * Proceeds benefit over 25 local charities in Burnet/Llano counties
830/693-9880
April 30
* 7:30 AM HLSL "For Ladies Only" Charity Golf Tournament/220 Meadowlakes Dr / $65 pp/Proceeds to local charities/ 830/693-9880
* 12:00 PM 16th Annual Crawfish Boil & BBQ Bash at Moon River Bar and Grill / 2002 Pace Bend Rd North /Spicewood, Tx
Live Music* Bring the family! / 512/264-2064
May 1
* 12:00 PM - 3:00 PM Spicewood Library 6th Annual BBQ & Auction at the Lakeside Pavilion /catered by OPIE'S BBQ / 830/693-1609 / www.spicewoodlibrary.org/
May 4
* SPAY/NEUTER CLINIC with Pet Pals (Prevent a Litter Society)
830/798-7729
May 6 - 8
* HOWDY-ROO /40th Annual Casi Chili Cookoff at Johnson Park
Public Invited to judge and enjoy the fun
May 12
* 11:30 AM Burnet County Republican Women presents Guest Speaker 424th District Judge Hon. Dan Mills at Hidden Falls Restaurant in Meadowlakes / 830/798-7988
May 12-15
* MAYFEST * FREE Concerts, Carnival, Washer Pitching, Live Music, Food Vendors, MARKET DAY, and a ton of Family Fun at Johnson Park * MORE DETAILS LATER!
May 13
* 7:00 PM Spicewood Arts Society presents Beto and the Fairlanes (a blend of Latin Jazz, Swing and World Beat music) 830/693-5901
www.spicewoodarts.org
May 21
* SPAY/NEUTER CLINIC WITH Pet Pals (Prevent a Litter Society) 830/798-7729
* PAINT THE TOWN - Plein Air Painting Contest throughout the area with auctions, artist receptions, and more
April 16
* SPAY/NEUTER CLINIC with Pet Pals (Prevent a Litter Society)
* 10:00 AM - 2:00 PM Children's Day Celebration * FREE day of fun activities, food, games and entertainment for the children of Highland Lakes / contact Ely for more details 830/693-7398
* 1:30 PM Rotary Golf Tournament in HSB / 830/693-3505
April 21
* 5:30 PM - 7:00 PM Chamber Mixer at Julie's Cocina in Cottonwood Shores / 4119 HWY 2147 Unit 1 / 830-265-5804
April 23
* 9:00 AM - 4:00 PM Chamber sponsored CITYWIDE GARAGE SALE at Johnson Park / Pat Burton / 830/693-5758
April 29
* 6:00 PM 17th Annual Charity Golf Tournament (For Ladies Only) * Fun-filled Social Mixer and Fiesta Dinner hosted by Highland Lakes Service League/ $65 pp * Proceeds benefit over 25 local charities in Burnet/Llano counties
830/693-9880
April 30
* 7:30 AM HLSL "For Ladies Only" Charity Golf Tournament/220 Meadowlakes Dr / $65 pp/Proceeds to local charities/ 830/693-9880
* 12:00 PM 16th Annual Crawfish Boil & BBQ Bash at Moon River Bar and Grill / 2002 Pace Bend Rd North /Spicewood, Tx
Live Music* Bring the family! / 512/264-2064
May 1
* 12:00 PM - 3:00 PM Spicewood Library 6th Annual BBQ & Auction at the Lakeside Pavilion /catered by OPIE'S BBQ / 830/693-1609 / www.spicewoodlibrary.org/
May 4
* SPAY/NEUTER CLINIC with Pet Pals (Prevent a Litter Society)
830/798-7729
May 6 - 8
* HOWDY-ROO /40th Annual Casi Chili Cookoff at Johnson Park
Public Invited to judge and enjoy the fun
May 12
* 11:30 AM Burnet County Republican Women presents Guest Speaker 424th District Judge Hon. Dan Mills at Hidden Falls Restaurant in Meadowlakes / 830/798-7988
May 12-15
* MAYFEST * FREE Concerts, Carnival, Washer Pitching, Live Music, Food Vendors, MARKET DAY, and a ton of Family Fun at Johnson Park * MORE DETAILS LATER!
May 13
* 7:00 PM Spicewood Arts Society presents Beto and the Fairlanes (a blend of Latin Jazz, Swing and World Beat music) 830/693-5901
www.spicewoodarts.org
May 21
* SPAY/NEUTER CLINIC WITH Pet Pals (Prevent a Litter Society) 830/798-7729
Monday, March 28, 2011
Marble Falls Happenings & Things to Do 3/25/2011 - Sue Ellett Real Estate
Marble Falls Happenings & Things to Do 3/25/2011 - Sue Ellett Real Estate
What's happening in Marble Falls? Check it out.... Sue
What's happening in Marble Falls? Check it out.... Sue
Tuesday, February 1, 2011
3 Potential New Developments in the Works in Austin?
3 Proposed MUD's may mean new developments to come to the Austin area, according to the Austin Business Journal. Read Article
Saturday, January 29, 2011
Downtown Austin Condo Sales rose 50% in 2010 according to report
From the Austin Business Journal - read the article.
Thinking about moving to the Austin area? Email or call for a Free Relocation package and information about homes that may meet your criteria.
Check out our website for more information. www.ppgtx.com
Thinking about moving to the Austin area? Email or call for a Free Relocation package and information about homes that may meet your criteria.
Check out our website for more information. www.ppgtx.com
Friday, January 21, 2011
Massive New Development in Austin moving forward
Article from Austin Business Journal about the West Park development in Oak Hill in SW Austin.
Friday, January 14, 2011
2011 Housing Forecast - Austin Texas
I attended the 2011 Economic Housing Forecast here in Austin yesterday which is sponsored by the Home Builders Assn and the Austin Board of Realtors. Speakers were from the Chamber Development board, a Federal Reserve Bank member from Dallas (who is also a professor of economics at SMU) and a gentleman who works for a company that has been around for a long time and all they do is forecasting, called Metrostudy.
All I can say is, Texas and Austin appear to be one of the best places to be at this time and going forward. We appear to be ahead of the curve and actually didn’t really get hit in the same way as the rest of the country. One point that was made which I hadn’t connected and which is interesting: Texas was much later in allowing home equity loans and lines of credit and instituted a rule that you cannot borrow or take out money in excess of 80% - that alone has probably kept us from as many foreclosures and short sales as lots of other areas.
The expectation is that home prices will continue to drop somewhat in many areas and that foreclosures will continue to rise in most parts of the country. Austin foreclosures seem to have flattened and our prices have mostly stabilized. Our builder lot inventory is being absorbed. Austin had a 2.2% net job increase in 2010 and housing affordability has increased over the last 4 years. Another interesting fact: the Chamber has a full time person in CA recruiting companies to move here for a lower cost structure and bring jobs to our area. Of course all sorts of things could happen to derail everyone’s forward progress in the country, including Austin, but overall, it appears quite favorable.
The other thing that should help home sales here going forward is that usually we have about 5000-6000 apartment units come on line every year. In 2011, they are only expecting 800 which may pressure rental rates upward and push more people back into looking at owning a home in future as lease rates will increase and occupancy rates will go up. If you own rental property, you may see increased rental rates in your future.
All I can say is, Texas and Austin appear to be one of the best places to be at this time and going forward. We appear to be ahead of the curve and actually didn’t really get hit in the same way as the rest of the country. One point that was made which I hadn’t connected and which is interesting: Texas was much later in allowing home equity loans and lines of credit and instituted a rule that you cannot borrow or take out money in excess of 80% - that alone has probably kept us from as many foreclosures and short sales as lots of other areas.
The expectation is that home prices will continue to drop somewhat in many areas and that foreclosures will continue to rise in most parts of the country. Austin foreclosures seem to have flattened and our prices have mostly stabilized. Our builder lot inventory is being absorbed. Austin had a 2.2% net job increase in 2010 and housing affordability has increased over the last 4 years. Another interesting fact: the Chamber has a full time person in CA recruiting companies to move here for a lower cost structure and bring jobs to our area. Of course all sorts of things could happen to derail everyone’s forward progress in the country, including Austin, but overall, it appears quite favorable.
The other thing that should help home sales here going forward is that usually we have about 5000-6000 apartment units come on line every year. In 2011, they are only expecting 800 which may pressure rental rates upward and push more people back into looking at owning a home in future as lease rates will increase and occupancy rates will go up. If you own rental property, you may see increased rental rates in your future.
Monday, January 10, 2011
Texas is looking better all the time....what are you waiting for??
Wow, just read an article about the future of some former boom towns in terms of their real estate....not pretty. It makes Central Texas real estate around Austin, Lake Travis, Marble Falls, Horseshoe Bay look even better all the time.
"Celia Chen, a housing economist with Moody’s Economy.com, predicts that a full recovery in parts of California, Nevada, Arizona and Florida won’t occur until 2030. “The housing boom elevated home prices in a number of areas far, far above what can be supported by the economic fundamentals, and so prices have fallen significantly, and they will remain below their previous peaks easily for a decade, or even two decades,” Chen said." Full Article
An article on 1/7/11 from the Austin Business Journal indicates that a recent Forbes study shows that Austin has the 3rd best job market nationwide. Austin shows up on Forbes lists often lately - The publication ranked Austin No. 1 last year for economic recovery, 8th best for business and careers, No. 2 most innovative and 10th best place for best cities for young professionals, among other rankings.
"Celia Chen, a housing economist with Moody’s Economy.com, predicts that a full recovery in parts of California, Nevada, Arizona and Florida won’t occur until 2030. “The housing boom elevated home prices in a number of areas far, far above what can be supported by the economic fundamentals, and so prices have fallen significantly, and they will remain below their previous peaks easily for a decade, or even two decades,” Chen said." Full Article
An article on 1/7/11 from the Austin Business Journal indicates that a recent Forbes study shows that Austin has the 3rd best job market nationwide. Austin shows up on Forbes lists often lately - The publication ranked Austin No. 1 last year for economic recovery, 8th best for business and careers, No. 2 most innovative and 10th best place for best cities for young professionals, among other rankings.
Wednesday, January 5, 2011
Austin in a top spot for young Entrepreneurs
As reported in the Austin Business Journal (read Article)
What are you waiting for? Move to Austin. Austin is the place to live, work and play!
What are you waiting for? Move to Austin. Austin is the place to live, work and play!
Austin projected to have the 10th Strongest Commercial Real Estate Market
A recent Grubb and Ellis report indicates that Austin will have the 10th strongest commercial real estate marekt over the next four years. As reported in the Austin Business Journal. Read Article
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