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Austin Real Estate Neighborhood Profiles – Hyde Park

Today is one of the most densely populated urban areas in Austin, the neighborhood of Hyde Park actually had its start as a streetcar suburb known as Shadow Lawn. In 1891,
Col. Monroe Martin Ship emphasized the development, the introduction of a large artificial lake and a house built on the former racecourse, which was established by the State Fair of Texas beginning of the century. The rich history of the region can be seen in the house of the former Ship, Ship, and now the house of other museums andhistoric buildings, like the Elisabet Ney Museum. Although the lake has long since been added, the area of giant trees and old houses to listen to the nineteenth century.

If you are painting Hyde Park as a picturesque Victorian area, but stop immediately. The community is within walking distance of the University of Texas at Austin and the center, and, consequently, many professionals, students and teachers live in the region. In fact, the area is one of the most diverse – inTerms of people and housing – across the city.

Here you will find everything from Victorian mansions to bungalows, apartments, duplexes available, and detached houses. Present from the first houses of palaces, you can click here. Plus, Hyde Park do for nearby residents, the communication is an artEducation system and the population of the region.

North of 38, south of 51 east of Guadalupe, and west of the Red River, Hyde Park also offers many shopping and entertainment for residents and visitors. The area 43 and Duval is the center of the community and the neighborhood commercial district. Here you will find many shops and businesses in which it commissions for finding a job, or enjoy the delicious food. The area is mother Café, a great vegetarian restaurant popular with famous celebrities, Quack’s Coffee Shop, Asti, and Hyde Park Grill. They are all placesto eat and relax.

Ship Park and another is the ideal place to meet friends and enjoy an afternoon. The salon is very popular on Friday night with the offerings of live music, and their food. Hyde Park tends to stress, independent stores, so you can go shopping at the Avenue B and Fresh Food Plus and receive personalized service when you rent your movies to I Luv Video.

Perhaps one of the reasons that support residents Hyde Park, so that the many independent, local businesses, becausereal sense of community in this area. In 1980 a group of residents in 37 was a tradition Street Talk Christmas lighting, which lasts until today, homeowners and Hyde Park and leads not only to admire the Christmas lights, but also during the meeting and on the verandas or under shade trees that dot the neighborhood.

http://www.ericbramlett.com/hydepark.php

Is Now The Right Time To Refinance Your Texas Mortgage

Why Refinance Back into a 30-Year Loan? Refinance Your Texas Mortgage for Rate and Payment Reductions.

Austin, Texas – One of the biggest reasons homeowners refinance their mortgage is to obtain a lower interest rate and lower monthly payments. By refinancing, the borrower pays off their existing mortgage and replaces it with a new one. This can often be accomplished with a no-points no-fees loan program, which essentially means at “no cost” to the borrower.

In the no-points no-fees scenario, the mortgage consultant uses rebate monies paid by the lender to pay off non-recurring closing costs for the borrower. These are “one time” fees such as escrow or attorney fees, title insurance, document preparation, tax service, flood certification, processing and underwriting fees, etc. The borrower is still responsible for recurring fees such as interim insurance, property taxes or insurance policy payments.

Refinancing typically occurs when mortgage interest rates drop significantly, but borrowers with recently improved credit scores (from paying off credit card debt, making mortgage payments on time, etc.) are often candidates for better interest rates as well. If you haven’t checked your credit score in a while, it’s a good time to call a mortgage consultant.

The question most asked is, “But why should I go back into a 30-year loan?”

There are two schools of thought on this subject, and the mortgage consultant should work hand-in-hand with the borrower’s financial planner to determine what works best for their mutual client.

One option is to take the route of the “same payment” refinance, and actually pay off the loan faster and save money on interest fees in the long-run. If refinancing results in a lower monthly payment, the borrower can still continue making the same payment they made in the original loan, and the extra money will be applied to the principal balance.

For example: Let’s say you have 25 years remaining in your current loan, and you refinance back to a 30-year loan with a slightly lower interest rate, resulting in a payment reduction of $200 per month. (Note: This is just an example. The actual amount could vary.) You could then take that extra $200 per month and apply it toward the principal on the new loan. At this rate, the loan will be paid off in 22 years and 4 months, which is 2 years and 8 months less than the original loan.

On the other hand, if the borrower’s financial planner is a proponent of best-selling author and investment guru Douglas Andrew’s philosophies (see Missed Fortune), he or she may suggest investing the extra money in a side-fund that could earn a better rate of return and grow to the amount of the mortgage (and beyond) in even less time. This method provides excellent liquidity, but having more direct access to this money may be too tempting for some homeowners.

Regardless of the reason for the refinance, the mortgage consultant will need to know what the existing loan scenario entails, review the homeowner’s long-term goals, and provide a comprehensive spreadsheet that compares and contrasts the various loan programs available.

Bear in mind, refinancing to obtain a lower interest payment could also result in a lower deduction at tax time. The homeowner’s mortgage consultant and financial planner should work hand-in-hand with their mutual client’s best interest in mind.

American Capital Home Loans is a trusted company that is well known in the Texas area. Furthermore the website has a number of freely available tools that help clients to find out what kind of home loan or mortgage they could get without having to speak to an advisor initially. Typical examples include a debt eliminator and a refinance advisor.

American Capital Home Loans is a Mortgage Banker and Home Loan specialist located in Austin, Texas. http://www.amcaphomeloan.com or http://www.austinmortgageteam.com
Brad Cullipher EVP
512-852-8883 Direct

Zillow Warns on Double Dip in House Prices

Wednesday, February 10th, 2010, 1:19 pm

There are signs that the feared “double-dip” in house prices may have taken hold of US housing prices in as many as one in five major housing markets, according to data compiled by Zillow, a real estate sales and data services provider.

While some individual markets have experienced a bottoming out and increase in prices, 29 of the 143 markets Zillow tracks is now showing signs of a possible double dip in home values. In those markets, home values have flattened or have begun to decrease again after showing at least five consecutive monthly increases during 2009 — what Zillow called early signs of what could a double dip.

The Zillow Home Value Index put the national median price at $186,200 in Q409, a 5% decrease from Q408. Compared to Q309, prices declined 0.5% during the last quarter of 2009. The index is a measure of median home values of all single-family residences, condominiums and cooperatives, both on the market and not for sale. Q409 marked the 12th consecutive quarter of year-over-year declines, Zillow said.

“The good news is that, for those markets that will see a double dip in home values before reaching a definitive bottom, this second dip will not be a return to the magnitude of depreciation seen earlier, but rather will look more like a modest aftershock of the earlier downturn,” said Zillow chief economist Stan Humphries.

Some of the largest markets at risk of a double-dip include Boston, Atlanta and San Diego, Zillow said. However, values in 29 other markets, including Los Angeles and New York increased month-over-month for every quarter in Q409. Zillow warned however, that in December, the increases slowed and warned many markets could experience several months of sustained decline in early 2010.

Zillow added home values increased year-over-year in 27 of 143 markets and remained flat in 15.

“While we have seen strong stabilization in home values during 2009, there are clear signs that they will turn more negative in the near-term,” Humphries said. “What we saw in mid-2009 was a brief respite from a larger market correction that has not yet run its course.”

The rate of borrowers with negative equity — where the value of their property was greater than the remaining balance on their mortgage — was 21.4% in Q409, up slightly from 21% in Q309. But foreclosures continue to mount, as the number of homeowners that lost their home — one out of every 1,000 properties — reached a new high in Zillow’s tracking data that dates back to 2000.

Foreclosure resales accounted for 20.3% of all US home sales in December, lead by Merced, Calif., where foreclosure resales took a 68.3% share of the market, Las Vegas (64%), and the Modesto, Calif. (62%).

Zillow’s interactive home value report is available online.

Write to Austin Kilgore.

Real Estate 101: Timing the Market

February 5, 2010 by Eric
Filed under Business & Finance

Whether purchasing real estate for investment purposes or for personal use, it is a good idea to keep a close eye on the real estate market. After all, by accurately reading the ebbs and the flows of the market, you can potentially save thousands of dollars on your purchase. Of course, the trick to making this happen involves knowing how to time the market in order to purchase the property at the best price possible while still getting the property of your dreams.

What Does Timing the Market Mean?

Put simply, timing the market involves choosing the best time to make a real estate purchase in order to save the most money. When in a recession, such as the one the United States is currently climbing its way out from, purchasing property right away will prevent you from saving as much as you possibly can. If you wait too long, on the other hand, real estate prices will start going up and you will have missed out on the opportunity to the largest amount possible. Therefore, timing the market involves watching market trends in order to purchase the property as close to the bottom price as possible.

Following the U Curve

In order to better understand the concept of timing the market, it can be helpful to think of the market and its recovery as the letter “U.” The top left side of the U would represent when the economy is in full-swing, which is when real estate prices are at their highest. As the effects of the recession start to hit the real estate market, prices start to slide down the left arm of the market. Ideally, you will want to make your real estate purchase once the prices hit the bottom of the U. Of course, it isn’t possible to perfectly time the market at its lowest point. Rather, your goal should simply be to make your purchase as close to this bottom point as possible.

The bottom line is simple – if you missed making your purchase while the market was experiencing downward momentum, it’s not too late to purchase real estate at significantly reduced prices. Most markets throughout the country have already bottomed out and are starting to climb back up the right side of the U. Combine the low prices with government tax breaks, and there truly has never been a better time to make a property purchase.

Should I move to Austin or Seattle?

I live in San Jose and it is mostly an international community, flowing veils, head garb, many languages, etc. I am looking for a city that is more American than international, but is still diverse. It is an earshot within fun nightlife, music, and restaurants, but also quiet clean suburbs. (BTW I am SWM, late 30’s, straight. Most of my friends date and marry Asian girls here in San Jose because it is primarily an Asian community. I do prefer the SWF midwestern look).I do not mind clouds and rain – friendliness of the people and good feel for the city is much more important to me than weather. Both cities are always ranked high in quality of life, but it seems Austin is the new kid on the block and Seattle is more of a has been. But Seattle real estate is supposed to be on the rise for many years to come. Please provide suggestions/feedback to help me find a city where I can call home and have a sense of belonging for the long-term.

It really boils down to what you’re looking for – the choice has to come from you. Both cities are awesome in their own way, but here’s a few things to ponder:

Weather: Seattle is notoriously gray and rainy. “Mild” winters – around 45-50 degree highs – last months, with chill winds. And so you know, I spent two winters in the area, so I know how much it sucks to be gray-crappy-cold for more than a few weeks at a time. Austin is a very warm – sometimes too warm – place with summer highs topping near 100, but it’s warm year round, and has a comparatively mild winter.

Girls: Seattle seems to be more ‘multicultural’ at first glance, and has a large population of Asians. If you’re looking for the classic midwestern ‘farmer’s daughter’, you cannot go wrong in Austin Texas – the town is overrun with them!

Cost of Living: No question, Austin.

Nightlife: Both cities are pretty comparable here. Because Seattle is larger, there are more options. Both cities have phenomenal live music scenes, and plenty of dive bars, as well as upscale entertainment. Seattle’s nightlife culture is fairly more diverse in terms of theater, musicals, etc; but again, it’s bigger, and ATX has no shortage of similar things to do.

Jobs: Seattle’s perennial tech and finance industries are always hiring. Bigger city, bigger market. ATX is a tech city too, and the blue-collar market is not a strong as Sea-Town.

Housing: Austin still has beautiful suburbs and quaint neighborhoods that are relatively untouched by development. The cookie-cutting scene is not as abundant as it is in Seattle, but Seattle has more urban-style living arrangements available. But if you’re looking to be within earshot of the action, Austin is the better choice, as the suburbs are closer to the main nightlife areas.

Public Transport: Is a joke in Seattle, but both cities rely heavily on busses. The monorail – when its working – is set to expand by 2008 or 2050 depending on who you talk to.

Politics: Some people joke that Austin is a piece of California that got lost. It’s definitely a left-leaning city in a right-wing state. But Seattle is the winner for left wing politics. Why? WTO 99 – ’nuff said.

Friendly people: In Seattle? No. It’s so hit and miss that the city at times seems cold. ATX has Texas hospitality with a laid-back western approach, so they win.

Traffic: It’s funny to hear Austinites complain about traffic, they have no idea. Seattle is one of the worst offenders in the US, and may have even cracked the top 5 before.

Real Estate: Housing values in Seattle are about 4X that of central Texas. Depending on your job and budget, you can do pretty well out here, and the market is expected to flourish in the next decade.

Internationalism vs American: While both cities have diverse populations, Austin is much more a down-home American town at its core still. Seattle has Yankee pride, to be sure, but lacks the feel of Americana that pervades Texas.

Proximity to scenery: Seattle’s prime location between mountains and waterways is almost unbeatable. Austin is near some great things to see and do, but pales in comparison to the abundance of outdoor activities in Seattle.

Now, to top of all that brain-food, I’ll tell you my experience. I went to and through Seattle several times, and it never felt like a place I wanted to be long term, though I considered moving there several times. But as soon as I drove into Austin, practically without seeing anything of the city, I knew I could stay here for many years and be happy. It’s very welcoming, and I plan to live out many wonderful years here.

I hope all this helps your decision – always a momentous and stressful thing to think about picking up and moving. I should know, I’ve done it several times.

February 6th, 2010 | by http://www.accurateappraisalcompany.com/real-estate-austin/should-i-move-to-austin-or-seattle

Selling in the winter

The cooler months can sometimes be hard months to sell a home in.  The weather plays a big factor.  If it’s cold and rainy, there won’t be many people out looking to buy.  Luckily we’ve only got a few months of it here in Texas.

So what do you need to do if you’re selling November through March?  I’ll start with the biggest, and it’s always the biggest, Price.  You have to list a home at a competetive price to drive buyers to it.  Without that competetive price buyers won’t see it and you’ll have to drop the price down the road losing you’re initial “Just on the Market” enthusiasm.  Some times your competetive price can drive enough buyers that they’ll not only give you full price, but may offer higher.

The second thing is clutter.  Many times in winter stuff just piles up or gets brought inside.  It’s best to get these out of the house and into the garage or attic.  When trying to decide if something should stay or go, be on the safe side and take it out.

Yards can also be a problem in the winter. Ususally the grass has turned brown and some shrubs have lost their leaves. You obviously can’t do anything about this.  You can keep the leaves off the lawn to make it look as neat as possible though.  You can also use mulch to freshen up the beds and put in some cold resistent flowers.

If you know of items that need to be fixed and that a potential buyer would object to, it’s a good idea to take care of these items before putting the home on the market.  You don’t want a potential buyer to not present an offer because of a problem that you’ll have to fix anyway.

Hopefully this will help you get your home sold quickly during these months.