❤️ AUSTIN Real Estate Blog

Buying a home that is in less than pristine condition and then doing a dramatic overhaul to increase its value and appeal is a worthy activity that tests your skills and can help you turn quite a profit. It is also good exercise for the body as well as an exercise in frugality. People often buy distressed properties and then renovate them until they are attractive to potential homeowners, and then flip them, or sell them for an often sizeable profit.

Fans of the HGTV network show Property Brothers enjoy watching twin brothers Jonathan and Drew Scott help couples locate, purchase and renovate homes. Residents of Austin were thrilled when the Property Brothers came to their town to work their renovation magic and teach people about the fine art of home

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Nowadays, the majority of home shopping get's done online. Some sources estimate as much of 95% of home buyers start their search for a new home online. A couple of the most trafficked real estate websites out there are Trulia and Zillow. Many people mistake Trulia and Zillow as real estate brokerages. The fact is they are third parties that use info provided by MLS systems as well as public records in order to provide info to the consumer. 

Why are they in the business? First off, they are not in the business to represent home buyers and sellers, but they are in the business of sellings Ads and "leads" to Realtors. All the money made by Zillow and Trulia comes from real estate brokers that are trying to put their name in front of new home buyers and

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Austin Board of Realtors stats for October 2012. The numbers don't lie. Sales continue to increase in the Austin Metro, year or year, and values are also increasing consistently. Time to take advantage of those REALLY low interest rates!

 

 

 

Sold Volume

 

 

2011

2012

Change

 

 

 

 

$330,490,053.00

$468,174,336.00

42%

 

 

             

 

Number of Sales

 

 

2011

2012

Change

 

 

 

 

1,276

1,619

27%

 

 

 
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Conceptual layout for future Abbostsbury Development.Twin Creeks Abbotsbury Concept

Video of of site for potential new development at Twin Creeks Country Club in Cedar Park, TX.

This project has been "hush, hush," but a 20 acre plot near the back ot the Twin Creeks Community was recently purchased. Proposed plans are for 25 custom homes sites and a large estate on 10 acres. This development is still in the planning phases, but please make sure to ping us here at Austin Home Shop to stay "in the loop" if this is something of interest to you.

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Twin Creeks Country Club is nestled between green belt, golf course and a native preserve located near Andersone Mill Road in Northwest Austin/Cedar Park. It features an amazing golf course designed by Masters Champion Fred Couples. In addition to golf, the community amenities offer a recenltly built full-featured club house with dining facilities, bar area, outdoor seating and golfing facilities. Next door to the Club House you'll find a Family Amenities Center with a full gym, gym studios and an amazing water park which features a heated junior olympic pool and waterpark sized slide. Drive time to Downtown Austin from this area is about 25 minutes and the area is serviced by great public schools in Leander ISD. Twin Creeks Country Club in Cedar Park, TX

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1800 Ski Slope, Austin 78733

1800 Ski Slope

 

$2,100,000.00

NOT IN THE MLS - Call (512) 299-3809 for a private viewing.

Bedrooms: 3
Bathrooms: 2
Subdivision: Aqua Monte
Stories: 2

Square Ft: 1,735
Prop. Type: Residential
Status: Pre-Listing Elementary School: Valley View
Middle School: West Ridge
High School: Westlake

Description:

Amazing Lake Austin Waterfront Remodel. Gourmet kitchen, cork and hardwood floors. Luxurious bathrooms with high end tile and Carrera marble finishes. Master suite with a stunning master bath, balcony with a Lakefront View, vaulted ceilings with reclaimed wood accents. Whole home media hub wired for surround sound, home automation and surveillance. Private "back yard" tucked behind beautiful walls of bamboo. Lake

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Things are looking up in Austin Real Estate. 

  • The number of sales in the area for February 2012 is up 3% on a year to year basis.
  • The sales volume is also up at an 8% increase.
  • The average Austin home value is also up at 6% from 2011 to 2012.
 

Sold Volume

 

 

2011

2012

Change

 

 

 

 

$253,046,128.00

$274,398,464.00

8%

 

 

 

 

 

 

 

 

 

 

Number of Sales

 

 

2010

2011

Change

 

 

 

 

1,022

1,050

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The homestead exemption process got a little more complicated this year due to some addiitonal requirements.

First of all, let me explain what the homestead exemption is:

So, what IS a homestead exemption?Homestead exemption is a legal regime designed to protect the value of the homes of residents from property taxes, creditors, and circumstances arising from the death of the homeowner spouse. An exemption removes part of the value of your property from taxation and lowers your taxes. For example, if your home is valued at $50,000 and you qualify for a $15,000 exemption, you pay taxes on your home as if it was worth only $35,000.

And these are the changes that went into effect in 2012:

Changes in Property Tax

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When you’re in a fast moving market like that of Austin, Texas and especially Central Austin you’ll undoubtedly run into multi-offer situations. There are many tactics that can be utilized to assure you get a property, and most of the time it means paying more for a property than your really want to pay. A lot of the times the winner of a multi-bid negotiation ends up paying more than the property is really worth. This is an interesting article at Realtor.com that attempts to explain all the factors that go into a multi-offer transaction.

One very important thing to keep in mind is that an “offer” is about more than just the purchase price. A seller looks at all aspects of the offer including terms like closing date, financing, special provisions, etc.

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