Austin Real Estate Blog 
Austin Prepared To Thrive In 2012
Friday, January 27th, 2012 at 10:35am. 23 Views, 0 Comments.
Main Street has placed Austin as one of the top 10 cities poised for greatness in 2012. Having a 6.6% unemployment rate to go along with decreasing home prices, many are able to live comfortably and enjoy all that Austin has to offer. Living recession proof while keeping it weird is what Austin's all about.
Click here to read more.
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Austin's Positive Housing Trend to Continue In 2012
Monday, January 23rd, 2012 at 10:16am. 441 Views, 0 Comments.
The beginning of the year is usually a good time for experts to interpret trends from last year and forecast trends for the new year. Many investors want to know how is the real estate market in Austin. To predict trends in this year's real estate housing market, last week ABOR and Home Builders Association of Greater Austin held the Fourth Annual Housing Forecast, an event totally dedictated to discussing trends in the Austin real estate housing market in 2012. And so far it's looking positive. Some even say that Austin's housing market is the best real estate market to invest in 2012. It definitely helps that Austin is a Best Performing City going into 2012.
Austin's upward trend in the housing market last year is expected to increase this year according to some housing forecast experts. Housing experts interpret that job growth and population growth along with a shrinking inventory of rental units will increase housing demand. Home prices will see an increase as well as new home starts which are expected to increase for a second year in a row in 2012. In 2011, Austin home starts increased by 5% compared to 2010's inventory. New home starts will continue to see an increase in the Austin housing market as long as strict mortgage underwriting criteria, supply of developed lots, weather and water resources, and investor confidence remain stable.
Read more about Austin's positive housing trend here.
Special thanks to Bruce Turner via Flickr for the incredible photo!
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Austin Snags Best Real Estate Market In 2012
Friday, January 20th, 2012 at 5:13pm. 553 Views, 0 Comments.
Austin's market never fails to impress as noted by Trulia's Chief Economist, Jed Kolko, who listed Austin as number one out of the top five real estate markets to watch in 2012. Other than the obvious appeal to the city's beauty, other factors such as job growth, technology skills, advances in construction around the city, and education levels have made Austin a hot commodity in the real estate business. Other cities that made the list include Houston, San Jose, Boston suburbs and Rochester, for reasons similar to Austin's advantages.
Click here to see more information on why these cities made the list.
Want to make the move to Austin? Ask us how!
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Austin Is One of the World's Top 10 Cities for Street Food
Tuesday, January 10th, 2012 at 6:32pm. 278 Views, 0 Comments.
Food & Wine magazine has named Austin one of the top 10 best cities for 'street food' in the world! From the impromptu trailers that appear amidst the late night 6th street goers to the immobile trailers like those on South Congress, one can likely find long lines of hungry people trailing in front.
For those who have not gotten to experience the wide variety of eats all over Austin, check out Austin Chronicle's Top 10 Food Trailers list for ideas of what kind of food each trailer has and where and when to find them!
But the options don't end there! Visit Food Trailers Austin's website to search through almost 170 Austin vendors by location or type of food.
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Austin Fourth Best City For Dating In 2012
Tuesday, January 10th, 2012 at 6:31pm. 533 Views, 0 Comments.
Looking for love in all the wrong places? Not if you're living in Austin! With high numbers of available singles in the area and low dating costs, it's no wonder The Daily Beast has ranked Austin the number 4 best city to find a date in 2012.
The top cities generally had high average salaries for singles with an overall lower cost of living, which makes things a lot easier for you and your date's wallets. Even the cheap movie route has risen to almost $20 per couple, not including the $8 popcorn and $4 soft drinks.
Austin's percentages of single men and women have risen to about 57% giving Austin's singles on the prowl plenty to choose from. Austin also had a leg up in the competition for being among the 10 most popular cities for five online dating sites.
Atlanta took the number one spot in the rankings, but Austin surpassed cities like Houston, Denver, Dallas and San Francisco.
Click here to see why Austin and others made the 'Best Cities to Find a Date in 2012' list.
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Special thanks to Jake Holt for the incredible photo!
How to file for your Homestead Exemption in Austin
Sunday, January 8th, 2012 at 5:58pm. 745 Views, 0 Comments.
Homestead exemptions remove part of your home's value from taxation, which depending on the value of your home, could potentially save you thousands each year. If you want to receive a homestead exemption for the taxes on your home, your home must first qualify as a residence homestead on January 1 of the year in which you are applying.
There are two requirements:
1. You must own your home on January 1.
2. You must use the home as your principal residence on January 1.
A state law that took effect on September 1, 2011 has changed proof of residency requirements for homeowners applying for the property tax homestead exemption.
It's vital that home buyers update their address on their driver's license, and with the tax assessor/collector in their area in order to be able to provide the required documentation for the homestead exemption.
The following items are required when filing for your Homestead Exemption in 2012.
Your Homestead Exemption will NOT be allowed unless all the required documents show the same homestead address. ALL THREE DOCUMENTS MUST HAVE THE SAME ADDRESS.
- APPLICATION FOR RESIDENTIAL HOMESTEAD EXEMPTION
- Copy of DRIVER'S LICENSE or IDENTIFICATION CARD from the Texas Department of Public Safety and the address MUST MATCH the homestead address.
- Copy of Vehicle Registration Receipt. The address MUST MATCH the homestead address. Once the change of address is processed by the tax collector's office, homeowners can get a copy of their registration receipt either from the tax office or from the department of motor vehicles.
- If you do not own a vehicle, you must complete the Non-Ownership of Motor Vehicle Adavit (found on the Application for Residential Homestead Exemption), sign it before a Notary Public, and attach a copy of a utility bill showing the homestead address.
- Mail the completed form to the Appraisal District for your County.
Frequently Asked Questions:
What is a homestead?
A homestead can be a separate structure, condominium or a manufactured home located on owned or leased land, as long as the individual living in the home owns it. A homestead can include up to 20 acres, if the land is owned by the homeowner and used as a yard or for another purpose related to the residential use of the homestead.
Do all homes qualify for homestead exemptions?
No, only a homeowner's principal residence qualifies. To qualify, a home must meet the definition of a residence homestead: The home's owner must be an individual (for example: not a corporation or other business entity) and use the home as his or her principal residence on January 1 of the tax year. If you are age 65 or older, the January 1 ownership and residency are not required for the age 65 homestead exemption.
Do I, as a homeowner, get a tax break from property taxes?
You may apply for homestead exemptions on your principal residence. Homestead exemptions remove part of your home's value from taxation, so they lower your taxes.For example, your home is appraised at $100,000, and you qualify for a $15,000 exemption (this is the amount mandated for school districts), you will pay school taxes on the home as if it was worth only $85,000. Taxing units have the option to offer a separate exemption of up to 20 percent of the total value.
What homestead exemptions are available?
There are several types of exemptions you may receive.
School taxes: All residence homestead owners may receive a $15,000 homestead exemption from their home's value for school taxes.
County taxes: If a county collects a special tax for farm-to-market roads or flood control, a residence homestead owner may receive a $3,000 exemption for this tax. If the county grants an optional exemption for homeowners age 65 or older or disabled, the owners will receive only the local-option exemption.
Age 65 or older and disabled exemptions: Individuals 65 and older and/or disabled residence homestead owners may qualify for a $10,000 homestead exemption for school taxes, in addition to the $15,000 exemption for all homeowners. If the owner qualifies for both the $10,000 exemp-tion for 65 and older homeowners and the $10,000 exemption for disabled homeowners, the owner must choose one or the other for school taxes. The owner cannot receive both exemptions.
Optional percentage exemptions: Any taxing unit-including a city, county, school, or special district-may offer an exemption of up to 20 percent of a home's value. But, no matter what the percent-age is, the amount of an optional exemption cannot be less than $5,000. Each taxing unit decides if it will offer the exemption and at what percentage. This percentage exemption is added to any other home exemption for which an owner qualifies. The taxing unit must decide before July 1 of the tax year to offer this exemption.
Optional 65 or older or disabled exemptions: Any taxing unit may offer an additional exemption amount of at least $3,000 for taxpayers age 65 or older and/or disabled.
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Live Music in Austin TX
Thursday, January 5th, 2012 at 6:20pm. 307 Views, 0 Comments.
Why is January one of the best month's for the music business in Austin?
Starting with Free Week, a full week of free live music at various venues, this month is full of festivals and concerts for everyone. Free Week has numerous participating locations like Stubb's, Antones, Emos and Mohawk that will showcase Austin's best local music talent... for free!
Oh Snap! Festival, a showcase of local bands going into its 3rd year, and the Mid-Winter Festival will fill the hills with sounds of bluegrass and African drumming to rock bands and DJs of all sorts. The Oh Snap! Festival, held January 27-28, will be hosted by the Parish and Beal Street Tavern. The event will have food, music and even comedy and benefits the Sergio Machado Memorial Scholarship Fund, which aids international students that come to study in Texas.
The Mid-Winter Festival, also on the 28th and sponsored by Austin Friends of Traditional Music, takes place at the Dougherty Arts Center. Festival-goers can even attend hands on music workshops as kids attend the dancing and singing workshops available.
This month, Austin's streets and concert venues will be buzzing with the sweet sounds of new and old acts and there's something to suit a wide variety of tastes and interests. With Free Week, Oh Snap! and Mid-Winter Festivals happening, you're guaranteed to find a new favorite band or two in 2012!
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What to Look for in a Custom Home Builder
Tuesday, January 3rd, 2012 at 11:22am. 266 Views, 0 Comments.
This guest post was provided by VIP Realty, a San Antonio real estate firm.
If you are looking for custom home builders, there are a number of things you should look for and a number of questions you should ask:
- Licensing Custom home builders should be licensed by the state. In order to be qualified for a license, the home builder should have minimal financial stability and a deep understanding of construction codes.
- Financial Stability Because of the difficulties with the national economy and the collapse of the housing market, it is now more important than ever to check the financial stability of the custom home builder with whom you want to work. It is important to know that your home builder will not only be around to complete your home, but to also address any issues with the home that may present themselves in the years to come. It is quite common to ask your custom home builder to provide you with either banking or trade credit references so you can research the company’s financial stability
- Experience It is of the utmost importance that you find a custom home builder who has extensive experience in the custom home building process. Ask for references of past work, ask specific questions regarding their experience in the business, and ask about the experience and expertise of their subcontractors. Remember: your custom home builder will be the project manager for your home and will need to possess experience, competence and leadership.
- Rapport Your custom home builder may have all the credentials and more on paper, but what about your rapport with them? Because you will be working on the design and construction of your home with your custom home builder for many months and investing a great deal of money into the project, it is vital that you and your builder share a mutual trust and respect.
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Austin Is One of the Most Generous Cities
Tuesday, December 20th, 2011 at 5:15pm. 453 Views, 1 Comments.
Austin is the third most generous city in the US declared by The Daily Beast who ranked US cities based on city-by-city data on consumer spending and charitable contributions. The study ranked cities by increase in spending on consumer goods during the holidays, holiday
consumer goods spending as a percentage of mean annual wage, increase in
charitable giving during the holidays, and holiday charitable giving as
a percentage of mean annual wage. With a high rank in consumer spending and charitable donations, Austin ranked 3rd most generous city in the US.
Read more about Austin's generosity here on The Daily Beast's website.
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Austin Is a Best-Performing City
Tuesday, December 20th, 2011 at 4:46pm. 451 Views, 0 Comments.
The Best Performing Cities index compiled by The Milken Institute ranked Austin the 4th best-performing city in the US in 2011 (2nd in 2010 and 1st in 2009). The index ranked cities by employment, salary growth, technology output growth, and their ability to create and sustain jobs. Of the top five best-performing cities, four are Texas metros with San Antonio ranking number one.
Austin ranked well because of several factors:
- Austin had the third-fastest job growth in the nation from 2005 - 2010 with the help of two state institutions – The University of Texas at Austin and The State Capitol.
- Austin is a growing tech hub – offices to expand include Samsung, eBay and Facebook.
- Austin has diversified technology bases including Dell with more than 14,000 employees, IBM, Freescale Semiconductor, AT&T Computer, National Instruments, and AMD.
- Retail and housing markets are recovering, thanks to job and wage gains at these tech employers.
The 2011 top 10 performers (with 2010 rankings) of the 200 largest metros:
- San Antonio, TX (14)
- El Paso, TX (9)
- Fort Collins- Loveland, CO (50)
- Austin-Round Rock, TX (2)
- Killeen-Temple-Fort Hood, TX (1)
- Salt Lake City, UT (49)
- Anchorage, AK (8)
- Huntsville, AL (3)
- Provo-Orem, UT (25)
- Kennewick-Richland-Pasco WA (5)
Download the Milken Institute's index and read more about best performing cities in the US here.
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