New Marina approved for Lakeway

Watch this news story to learn more about the new Marina approved for Lakeway. What do you think?

Controversial marina still in the works: kxan.com

Lake Travis ISD Receives Highest TEA Rating

Lake Travis ISD has received the Texas Education Agency's highest rating, "Exemplary." The ratings are based on standardized testing scores, retention rate, and drop out rate. The district received a zero percent drop out rate and a 98.5% retention rate. Ratings for individual schools for the 2009-2010 school are:

Lake Travis ISD – Exemplary
Lake Travis High School – Exemplary
Lake Travis Middle School – Exemplary
Hudson Bend Middle School – Recognized
Bee Cave Elementary School – Exemplary
Lake Travis Elementary School – Recognized
Lake Pointe Elementary School – Exemplary
Lakeway Elementary School – Exemplary
Serene Hills Elementary School – Exemplary

For more information about area schools visit my website.

Willie Nelson To Welcome New Neighbors

While it is well known to Hill Country-ites that Willie Nelson owns a great expanse of land near Pace Bend Road in Briarcliff, until recently this reclusive icon has kept this paradise with seemingly endless Hill Country and lake views to himself.

Silverton Custom Homes has recently begun the first phase of a project, parceling out 60 acres of the 680 Nelson owns for unique home sites. The first phase features 41 lots which range from one to 2.6 acres each and begin around $150,000. The subdivision which is called Tierra Vista will be gated and designed to incorporate the Hill Country's natural beauty.

For more information about living in the Lake Travis area, visit my website.

How can your home make you happier?

Does your home seem dark or uninviting? Do you feel unwelcome in your own living room? Making improvements that make you happier will probably make prospective buyers happier in your home as well!

Click here for a story about how you can make improvements or here for more information about buying or selling in Lakeway.

2nd Quarter Existing-Home Sales Rise in Most States, Helped by Affordable Metro Prices

Washington, August 12, 2009

Existing-home sales in the second quarter showed healthy gains from the first quarter in the vast majority of states, and price declines have increased affordability in most metro areas, according to the latest survey by the National Association of Realtors®.

Total state existing-home sales, including single-family and condo, rose 3.8 percent to a seasonally adjusted annual rate¹ of 4.76 million units in the second quarter from 4.58 million units in the first quarter, but remain 2.9 percent below the 4.90 million-unit pace in the second quarter of 2008.

Thirty-nine states experienced sales increases from the first quarter, and nine states were higher than a year ago; the District of Columbia showed both quarterly and annual rises.

Lawrence Yun, NAR chief economist, said the sales gain appears to be sustainable. “With low interest rates, lower home prices and a first-time buyer tax credit, we’ve been seeing healthy increases in home sales, which are a hopeful sign for the economy,” he said. “There have been sustained sales gains in Arizona, Nevada and Florida, as well as diverse areas such as Maryland, the District of Columbia and Nebraska. More recently, we’ve seen strong double-digit gains in Idaho, Utah, New Mexico, Washington, Hawaii, New York, New Jersey, Maine, Vermont, Wisconsin, Indiana, South Dakota and Montana.”

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Read the entire article here or visit my website for more information about home sales in the Austin, Texas area.

Neighborhood Profile: Steiner Ranch

For homeowners in Steiner Ranch, living is a SNAP

Saturday, July 25, 2009

Steiner Ranch has long been known as a successful neighborhood, but many home buyers do not know the extent of what the area offers and what makes it distinctive.

When you think of the best features of Steiner Ranch, just remember that living in Steiner Ranch is a SNAP — Schools, Nature, Amenities and Price.

Schools

Steiner Ranch is the crown jewel of the Leander Independent School District.

Three exemplary-rated schools — Steiner Ranch Elementary, Laura Welch Bush Elementary and Canyon Ridge Middle School — are located in the community and have built a reputation of academic excellence.

This August, two more schools will serve the Steiner Ranch students. Vandegrift High School will open just outside the community, and River Ridge Elementary will become the third on-site elementary school.

"I would put the education my kids are getting here in Steiner Ranch next to anybody's," said Keith Sommer whose kids attend Laura Bush Elementary. "The parental involvement here is outstanding and the teachers really care."

Nature

With both Lake Travis and Lake Austin surrounding the community, Steiner Ranch offers natural beauty like no other place in Austin. Flanked by the Balcones Canyonlands Preserve, the landscape has a wide-open feeling while still being close to conveniences like shopping and restaurants. Downtown is a short 25-minute drive as well.

"After researching countless neighborhoods in the Austin area and talking to friends, we found ourselves in Steiner Ranch," said Stacy Wilson, a resident for five years. "Our first impression was 'Wow, this is it. What a beautiful area!' We drove in and saw the lake views and rolling hills, and we knew that this was a place we could raise our family."

Amenities

As members of the homeowners association, Steiner Ranch residents enjoy a comprehensive amenity package that includes three community centers — each with pools, tennis and basketball courts.

Sports teams have access to multi-purpose fields where more than 150 teams practice each week. Twenty miles of trails wind through the greenbelt areas allowing endless opportunities to enjoy the outdoors.

"The miles of beautiful trails here are accessible from every neighborhood, which was a huge selling point for us. We had no idea the trails would look so natural — like a path through the woods. We frequently find ourselves exploring with our dogs, who couldn't be happier," said Wilson.

Price

With homes from the upper $200s to more than $3 million, Steiner Ranch offers something for almost every lifestyle and price range.

As compared with other areas of Austin, Steiner Ranch is a tremendous value for the money as well. Whether your dream home is a Mediterranean-style golf course home, a 2,500-square-foot single story or an 8,000-square-foot custom home on the lake, you can build it in Steiner Ranch.

"People are so amazed at how much further their money goes in Steiner Ranch compared with other areas of town," said Kathy Mayer, community sales manager. "Buyers can still get a new home with every imaginable upgrade and stay within budget. Instead of remodeling, it makes it that much more tempting to buy new."

Now is an especially good time to be looking at Steiner Ranch. There are currently homes in every price range available for move-in before school starts.

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Read the original post here or learn more about this beautiful community and others on my website.

Austin home sales hit highest level in a year

By Claudia Grisales
AMERICAN-STATESMAN STAFF
Tuesday, July 21, 2009

Austin-area sales of existing homes hit the highest level in a year last month, according to figures Monday from the Austin Board of Realtors.

Last month, 2,135 single-family homes were sold in the area, down 4 percent from a year earlier. That was the smallest decline since a 2 percent drop in July 2007, when the market began to soften amid an emerging national mortgage crisis.

This year, sales were down 19 percent in May and 18 percent in April from a year earlier.

Pending sales — those in the pipeline to close in July — were up 4 percent, to 2,084.

"We've seen the year-over-year gap in sales volume close steadily throughout 2009, and that momentum continues this month," said Jay Gohil, chairman of the Board of Realtors.

Jim Gaines, research economist for the Real Estate Center at Texas A&M, said there's not yet a clear signal that the Austin market has hit bottom.

"That's the $64 million question," he said.

He said Texas is seeing more signs that the recession has landed with full force, such as a weakening job market — including in Central Texas — and falling sales tax revenue.

But there is growing evidence nationwide that the housing market is starting to stabilize. Combined, sales of new and existing homes hit an annual rate of 5.1 million in May, the highest level this year.

In Central Texas, the market is benefiting from low mortgage rates and a healthy supply of homes for sale. Another strong incentive: an $8,000 federal tax credit for first-time buyers who close on a home before Dec. 1.

But the market faces a long climb back. Home sales last month were down 23 percent from June 2007.

Mark Sprague, Austin partner for Residential Strategies Inc., which tracks the housing market, said the Austin market appears to be improving.

As fewer developers build homes and the number of available lots continues to shrink, it will mean more demand for existing homes, he said.

"Resales are a little better," Sprague said. "I'm cautiously optimistic."

Sprague reiterated that the Austin market has not slumped as deeply as the national market. The median home price in Austin last month was $199,900, unchanged from a year ago. Nationwide in May, the latest data available, prices were down 15 percent from a year earlier.

Mortgage broker Ashley Hall said June was a busy month for her firm, with a large percentage of homebuyers looking to move to Austin from destinations such as California and Arizona.

"We have seen a great deal of activity," said Hall, president of Barton Hills Mortgage.

Hall said her firm saw purchases increase about 15 percent in June. Of those, 60 percent were buyers moving from other cities or states, and 40 percent were previous customers moving to bigger or better homes. The average purchase price was in the $450,000-to-$500,000 range, with a few sales over $1 million.

Tom Polk, a broker associate with Stanberry & Associates, said June's figures finally reflect what he's been seeing in his own business.

Polk said he's also received interest from prospective homeowners looking to move to Austin as well as investors.

"It's about time," he said. "There is a distinct change in activity and attitude out on the street."

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Read the original post here or learn more about Austin, Hill Country, and Lakeway home sales on my website.

How To Fight Your Property Taxes! I did it and so can you...

My husband and I own a lovely home in the city of Lakeway, Texas. Every April I pay an enormous amount of money in property taxes. This year I decided to fight my taxes because I had noticed some discrepancies in my charges and finally decided that this was the year to do it. This is my experience.

I arrived 15 minutes early and entered the Appraisal District building on the opposite side of Austin from where I live. I walked up the stairs to check in by the sign that says “check in here”. I asked the receptionist if my hearing will be on time and I she giggled as she listened to a question that I am sure she hears a hundred times a day, which implies the answer, “No.” As I am sitting in one of the plastic chairs in a hall I feel like I am waiting to go into the principal’s office-and wonder why I did not prepare more.

There are 9 rooms where the appraisal review board panels convene. Some rooms are as big as a doctor’s exam room and others are twice the size. I watch a cute couple, probably 90 years old, go into a room. I wonder again if I could have prepared more. I hear laughing from the room and think, “OK, maybe laughter will help me.”

There is a break room on the floor where you can pay for a soda or water or even a snack. Note to self: bring enough provisions for 2 hours next time, do not skip lunch to be early. More laughter, “OK, maybe I CAN do this.”

A police office walks down the hall – opens a door and asks if the panel members are OK, then I think maybe the panel has a button that they can push if they feel they are in trouble. I take out my soothing lavender stick and rub it on my wrists…calming down.

A man is walking down the hall asking people how they prepared and the man next to me said he didn’t. His house is on the market for less than the assessed value so he thinks it’s a slam dunk. I think, and I hope, too, as I am in the same situation.

Another man walks up the stairs, sees more than 20 people in the hall and says “Oh Man”-I think “I’ve been here 40 minutes already.”

The happy couple comes out; they are playing the name game as they leave. I wonder-should you dress up or down in this situation. I see men in suits and men in shorts. Women are definitely the minority. Will the panel now talk about the couple’s property or do they make that determination while all together in the room? They leave the door open, and I doubt they will talk about it, so on to the next tax payer. I hope it’s me…nope, but this woman looks well organized. Another panel calls a name from down the hall “Ok,” I think, “Maybe we are in the groove, the lunch break paid off.” Oh shoot, now I get a hot flash; go buy another pop from the lunch room.

Soon my mind is floating with thoughts such as “Should I tell them I a realtor? Would that make a difference? Would he help or hurt?” Zap! Back to reality, my name is called. As I enter I am instructed to sit in front a computer monitor. The panel is to my left and the appraiser is to my right. They introduce themselves and I am sworn in. I begin my testimony with a presentation of my listing agreement, CMA, my MLS sheet and sold data. I had made 4 copies and handed it out to all. My tax assessed value was $50,000 more than what I have it on the market for. Also it has not yet sold at that price and I discuss the reasons why it probably will not sell for this price because of upgrades that need to be made to compete in the market. The panel and appraiser flipped though the paper and looked at photos I provided. They asked if I am finished presenting and let me know I will have a chance to comment after the appraiser comments. I mentioned that I am a Realtor and it seems it did not matter.

The appraiser brought up a default grid of properties that have sold that closely match my property. The grid looks much like the appraiser’s grid of comparable properties when you buy a house. The base price is shown and then adjustments are made for differences in the properties. He states that my data is not accurate because the sold data needs to be for the time period of 1/1/08 to 2/2/09 as this is the time that my home was assessed in. “It have been nice to have known that in advance,” I think… “I don’t think that was in the packet of information I received.” Then up pops homes that I have not researched so I am fumbling around now. I ask where the grid takes into account the extras, like pool, golf course, etc. I see that line and move across the grid to see what types of adjustments were made. The data does show about a $40,000 price decrease, close to what I have it on the market for, so I am feeling a bit better.

Next the appraiser brought up an equity grid. This is not based on sales, but shows your property’s taxes compared to the properties’ taxes near you. Then I noticed on the form that the line that shows the price for mine and my neighbors’ lots had a discrepancy. While our lot size was similar the price for my lot was much higher. The panel soon discovers that our home has been assessed based on a lake view scale which we do not have. I got $25,000 taken off the value there. Yippee!

I also note that the square footage has not been adjusted and last year we sent an appraisal report that showed that we had less sq footage than what the tax man had assessed. The home had been added onto and the square footage that the permits said was simply not accurate. It sounded from the conversation amongst the panel that normally any amount under 10% would not change in the tax records, but upon further review of the correspondence among the district and I it was stated it would be changed. So my square footage was adjusted and in total my assessed value was reduced $106,024! From my calculations I will be saving $200 a month! I am pretty happy at this point. I said my good byes and will be looking for my letter in the mail stating what transpired in our meeting.

In conclusion, here is my advice if you are ever in this situation: bring provisions and a book and plan to stay for at least 2 hours. Your goal is to provide evidence of market value so consider researching and bringing all of the items on the list that they suggest in the packet they will send ahead of time. The biggest thing to remember is to bring comparative research for the time period of 1/1/08 to 2/2/09 (if you are going in this year) and to check the data for your property to see if there are any quick fixes like incorrect square footage or land adjustments that are incorrect.


For more information about real estate in Texas visit my website.