Round Rock is not just a suburb of Austin. It is a community that has flourished amid the recent economic woes. The schools here are top notch and the cost of living is still reasonable. It is home to some big companies, which helps to maintain a low unemployment rate. Residents of Round Rock consider [...]
Round Rock is not just a suburb of Austin. It is a community that has flourished amid the recent economic woes. The schools here are top notch and the cost of living is still reasonable. It is home to some big companies, which helps to maintain a low unemployment rate. Residents of Round Rock consider it a town that would be a good choice to live, no matter who you are.
Founded in 1851, and later named for a smooth rock in the center of Brushy Creek nearby, Round Rock has made it to the top of several lists such as best place for young people and best place for relocating families. Dell has headquarters here supplying about 9,000 jobs. The unemployment rate as of early 2008 was 3.6%, at a time when nationally it is more than 5%. The median home price remains around $250,000. Business Week named Round Rock as one of the best areas for real estate bargains. The city itself boasts many shopping attractions, including an outlet mall. Sports are another big attraction here. Nolan Ryan owns the Round Rock Express, the city’s own minor league team. Parks are maintained beautifully, leaving a lot of room for residents to relax and enjoy nature or golf.
Those who call Round Rock home love it for all it has to offer. There is a small town feel to this city that has all the amenities. Commutable to Austin, many have chosen to live here for this community feel. The future looks bright in this city.
The topic of preparing finances is important, because it is the cornerstone of the residential home-buyers market. Far too often, before the market collapse, this topic was untouched — now people are seeing the value in the clarity provided. This article is an extension of the wisdom drawn from the market crisis, and a reminder [...]
The topic of preparing finances is important, because it is the cornerstone of the residential home-buyers market. Far too often, before the market collapse, this topic was untouched — now people are seeing the value in the clarity provided. This article is an extension of the wisdom drawn from the market crisis, and a reminder is never out of style or excessive.
It is time to look for a new home. This is an exciting time, but can be stressful. It is important to know where you stand financially before starting the endeavor. The most important thing is to be sure that you are able to afford your new home. Remember when looking for a loan, it is important to not only provide information about your current income, but also your previous financial history.
There are many factors that will be used to determine your eligibility and the amount of loan. The first thing to collect should be any pay stubs you have available. Most institutions will want to see the past two years, at least, of income. These stubs will also show proof of employment. It is easier for someone who has a steady employment record to receive a loan. If you have had many job changes, be prepared to explain why. Bank statements are also looked at to show proof of savings and to determine any past history of bounced checks. Save all of your tax returns as added proof of income. This is especially important if you are self-employed or own your own business. The lender will also be interested in any investment portfolio you may have. If you are receiving alimony or child support, this can also be added to your income (make sure you have the court documentation of amounts received). We all know that your credit report will be examined as well. This report will list all current long-term and outstanding bills, as well as your payment history. Having this information with you when you are ready to apply for a loan will help to speed up the process.
The Austin area has been recognized nationally for staying strong among the mortgage crisis. Median house prices have remained fairly steady in area such as Round Rock. The job market has remained healthy here, creating even more security during a tough economic year where everyone is concerned for their jobs. Companies are still moving to [...]
The Austin area has been recognized nationally for staying strong among the mortgage crisis. Median house prices have remained fairly steady in area such as Round Rock. The job market has remained healthy here, creating even more security during a tough economic year where everyone is concerned for their jobs. Companies are still moving to Austin, thus keeping a steady demand for houses. While many builders have slowed down a bit, the supply is still readily available.
Of course, Austin has not been completely impact free. The housing market has slowed down a bit. In September, just over 1,800 homes were sold in and around Austin. According to data maintained by the Texas A&M Real Estate Center, this is down about 10% from the same time last year. The median price for a house in Austin is around $183,000. This is a small increase from last year. It seems this is exactly how Austin has fared so well. Real estate markets are governed by the basic supply vs. demand. Most local builders have decreased their inventory to about six months. This is considered a good amount for a solid market. Housing prices have never exploded in Austin, which is what has happened in other areas of the country affect badly by the mortgage issues. This small, but steady, increase has been leveled with steady employment rates. What this creates is an area where the real estate market can still flourish. The Austin area has made it to the top ten of several studies as one of the best areas for both housing and job growth.
When offering a home loan, many financial institutions will offer points to lower the interest rate of the loan. This can be helpful to reduce the monthly mortgage payments, but is not always a good idea. The decision to pay points should be made after careful consideration of the home buyer’s specific circumstances. Each loan [...]
When offering a home loan, many financial institutions will offer points to lower the interest rate of the loan. This can be helpful to reduce the monthly mortgage payments, but is not always a good idea. The decision to pay points should be made after careful consideration of the home buyer’s specific circumstances. Each loan is different, and it is important to realize what is best for you.
How does paying points up front work? Basically, the buyer would agree to pay a certain amount at the time of closing and the lender agrees to lower the interest rate. Perhaps with no points, the loan is offered at 9%. The bank may then offer a 7% loan based on a payment of a specific number of points. It may be a small amount overall, but remember to consider how long you will need to be in your home to make up for that extra money spent up front. For example, the paying points means $3,000 more at closing, it may take several years to recoup financially that amount. Paying points on a loan is a better idea for homeowner’s that plan to stay in a house for many years. That almost guarantees that the difference will be made up in time. If the buyer is planning to live in the home for only a few years, the money up front may actually cause a loss to the buyer. On an original loan, these points are tax deductible in the same year as the closing. Check with your tax professional to help determine if it’s right for you.
Two new homes on Riley Road in Rollingwood have received kudos from Austin’s Green Energy Building Program. The first home was rated a five-star example of an eco-friendly home, while the second should meet the same requirements, once construction is completed over the next several weeks. Those involved with the project have worked to include [...]
Two new homes on Riley Road in Rollingwood have received kudos from Austin’s Green Energy Building Program. The first home was rated a five-star example of an eco-friendly home, while the second should meet the same requirements, once construction is completed over the next several weeks. Those involved with the project have worked to include many home features that will allow the home’s occupants to have as little contact with dangerous chemicals as necessary, protecting both their own health, as well as that of the environment.
Included in the features of these homes are efficient fixtures and appliances, such as toilets, washing machines, dishwashers and numerous windows, all of which cut the need for excess water and electricity. Both homes have private pools with special filtration systems that remove impurities from the water, without the need for chlorine or other chemicals.
They also feature induction stoves, rather than gas or electric models, further reducing the carbon footprint of the homeowner. The paint used within the models is as chemical free as is available, making the home safe for those who have problems with allergies or those who are sensitive to chemicals. The floors are made from sealed concrete that does not require the use of chemical cleaners and can be washed with pure water.
When shopping for a new home, buyers that employ the services of a Realtor can assure that their purchase has the “green” features that they want, without overpaying. A Realtor will work with the builder and buyer to develop a suitable agreement about what materials are used and what features are added to the home, preventing misunderstandings and unethical practices. A Realtor can help a buyer to make the right choices when selecting their home that will meet both their budget and their needs, leaving everyone satisfied, once the deal is complete.
The decision to refinance your home is a big one. The equity built in a home is a great resource for funds in a tight squeeze, but will it help you, or hurt you? It is important to weigh all of the pros and cons and to make a decision based on what will be [...]
The decision to refinance your home is a big one. The equity built in a home is a great resource for funds in a tight squeeze, but will it help you, or hurt you? It is important to weigh all of the pros and cons and to make a decision based on what will be best for your situation overall, not just in the short term. Your home is the greatest investment you will make. Consider all options and possible outcomes before deciding to refinance.
Most homeowners refinance their home when a large amount of money is needed, say for college tuition. Remember, though, that by refinancing, you are starting all over on your mortgage. If you have a 25 year fixed mortgage and are already five years into it, then refinance to another, you are actually paying for your house for thirty years. Also consider that refinancing has its own fees just as the original loan did. There are closing costs such as loan origination fees. This means you may be lowering your monthly payments, but it could take years to recoup the fees to refinance. Most experts suggest not bothering unless the new rate is at least 2% less than what you pay now.
Another reason for refinancing is to change an adjustable rate mortgage to a fixed mortgage. This would be a great idea if the rate is reasonable and you are planning to stay in the home for many years. An adjustable rate means that after some time, the monthly mortgage amounts will increase. If the original loan is an ARM, a fixed rate would be more beneficial. The payments will not change. Remember to consider all factors before going forward with a refinance. Choose what is best for your particular situation.
Austin is maintaining a low unemployment rate. Due to the technology boom, the area has seen a steady job market for many years, and will continue to do so. With the addition of many new companies in the area, the job market is expected to remain solid. Many commercial buildings in the area are seeing [...]
Austin is maintaining a low unemployment rate. Due to the technology boom, the area has seen a steady job market for many years, and will continue to do so. With the addition of many new companies in the area, the job market is expected to remain solid. Many commercial buildings in the area are seeing an increase in occupancy that has helped to create more jobs.
There has been an increase in unemployment, from 3.7 last year to 4.5 in 2008. However, the central Texas job growth rate indicates there are over 18,000 more jobs this year than last. Dell closed two plants in the Austin area, taking about 2800 manufacturing jobs off the market. That was the biggest hit, though reports indicate that almost every other sector showed an increase in employment. With more new tenants choosing Austin as base for business, the unemployment rate should remain lower than in other areas. When compared to statewide unemployment rates of 5%, the Austin job market is still as healthy as ever, even with the recent changes.
In North Austin, the Frontera Crossing commercial building has expanded one tenant, and added a new one. Combined this will create about 300 new jobs. Dashiell LLC, an electrical engineering and design firm has leased space in the office. Field Asset Services, a mortgage field services company will be expanding from 400 to 650 employees in the same building. This brings the occupancy for the Class A commercial building to 70% and promises more job growth for Austin.
Southwest Austin has begun a mixed-use property boom. A recent addition to this area is the Class A office complex, Capstar at Compass Plaza. The eight story, 115,000 square foot property began construction in July and is expected to be completed within the next year. The property has already been pre-leased to several businesses, including [...]
Southwest Austin has begun a mixed-use property boom. A recent addition to this area is the Class A office complex, Capstar at Compass Plaza. The eight story, 115,000 square foot property began construction in July and is expected to be completed within the next year. The property has already been pre-leased to several businesses, including Compass bank. Three Capstar companies, all owned by R. Steven Hicks have also pre-leased space in the building. These companies are Capstar Investment Partners LP, Harden Healthcare Texas LP, and DMX Inc.
This part of southwest Austin has seen an increase in mixed-use properties, which include commercial, retail, and residential space. This building is located on the southeast side of MoPac Expressway, and is considered a gateway to downtown Austin. Also in the works for this area is 5th Street Commons, located between West Lynn and Campbell streets. This area, through development of Gables Residential and the Austin office of Direct Development will include 138 residential apartments and 38,000 square feet of retail space. Gables is also working with Capital City Partners for a 165 apartment unit and additional retail space on the corner of Fifth and Pressler Streets. A seven story garage is also planned for the area on Fifth and Lamar streets, created by Schlosser Development Corp. This will also provide about 10,000 square feet of retail space.
The creation of these mixed use properties provide Austin with increased revenue and give people the benefit of being close to everything, including downtown. There are currently several in development.
