4 Tips to Buy Real Estate

Purchasing real estate is something that is a big deal for anyone, but especially for first time buyers. And more importantly, it can be overwhelming. After all, this is a big commitment. However, we’ve put together a few interesting tips to help the process be a smooth one. 

 

Make a List

Decide on the features you want the home to have. Think of location, size, luxury features you might want, etc. Think of the amount of money you can afford. You can even use mortgage calculators on mortgage websites, or ask to get prequalified for a mortgage. 

 

Don’t Get Discouraged

Try not to be discouraged if the seller of a home you want to purchase does not accept your offer, often times sellers are willing to negotiate different aspects of the sale with you, to make the sale still possible. The seller might be able to reduce the price, repair things or share the closing cost. 

When you are looking to purchase a new house, think about the long-term picture. Even if you currently do not have children, if you are planning to have kids in the future, you’ll want to find out about local schools. 

 

Get a Checklist

See if your Realtor can provide a checklist. Get a home buyers checklist from your real estate agent to keep track of all the tasks you need to complete when purchasing a home. This checklist will help make sure that everything that needs to be taken care of is accomplished in time for settlement. 

Create a Home Repair Budget

Make sure that you have a little bit of extra money put away in case any unexpected costs pop up when you’re buying a home. You can get a good idea of the closing costs if you add the down payment, taxes and what the bank charges. But there can be even more costs at closing. These may include property taxes and assessments. 

When you interview your real estate agent, plan on asking the right questions. You should ask them specific questions about their track record. The agent’s responses to these questions will provide you with the information you need to reach a decision

The Importance of a Real Estate Agent with Networking Skills

Years before the internet home buyers and sellers needed to contact a real estate agent if they wanted property information. The agent was the connection and knew how to find a buyer for a home and a home for a buyer. You met them at their real estate office, café or local luncheonette. This was the way you got the skinny on the latest homes for sale or new buyers in the market.

Obviously things have changed. Now most home buyers (around 90%) shop for their next home online. Many home sellers can get a pretty good idea of what their home may be worth by studying information provided by web sites like Zillow.com, Trulia.com and Realtor.com, which means you still need a real estate agent, but one that is now connected in one way or another.

So, do home buyers and sellers even need a real estate agent anymore? Thankfully, the answer is “More Than Ever”!

Sellers want to work with an agent that can get them a buyer for their home. But there is more to the request. They also want a qualified buyer who is reasonable about the conditions of the sale, offers them a fair price and is easy to work with.

Buyers want to work with an agent who can find them a house. And yes, there is more here too. The home buyers desire guidance relating to home inspections, mortgage financing, Etc… They also want a home at a fair price, minimal risk of principal during the transaction (a way out if things do not go as planned), and yes, a reasonable home seller.

Find the Right Real Estate Agent 

In the pre-internet days, the connection was based on knowledge as it related to home and buyer availability. Now it is related to the real estate agent who is connected to the public, a professional network and a crack staff.

A Professional Network

Look for someone with professional network connections. Real estate agents that are professionally connected can refer professionals in the fields of finance, title & home inspection. You may also want someone who is connected to Handy people, cleaning services, moving companies, Etc… It is handy to have a list of professionals your agent can recommend.

An Efficient Staff

Many times a customer will hire an agent without considering their support staff. You not only want to be connected to your real estate agent but to the staff as well. 

Adding Curb Appeal - A Big Plus for Austin Homes on The Market

From simple upgrades to meticulous landscaping projects, or simply replacing outdated fixtures; it is these little changes that can make a big difference in selling your existing home. By doing a little curb appeal you can get more for your home or sell it more quickly. But what can you do?  There are dozens—if not hundreds—of ways to enhance your home's appearance. The improvements shown here won't break the bank and can be completed in a morning. Best of all, they'll make a dramatic difference that you'll appreciate every time you pull into your driveway.

 Curb appeal adds value to your home, especially because it is the first impression potential buyers have of the property. There dozens if not hundreds of ways to improve your property’s appearance. The following are just a few simple ways to give you property a dramatic improvement,  and one that will impress anyone that comes to visit.

Edge the Driveway

Install a border along the driveway to add that crisp , clean look. You can use pavers, bricks, stone or any combination thereof to add interesting texture and design to the edge of your driveway.

Add Lights

Add lighting to your entryway. This gives evening guests a welcome and makes them feel safer. Besides soft lighting adds a romantic atmosphere to the home and can emphasize important landscaping features.

Flower Beds

Add flowers along the sidewalk and in front of the house. Add these to flower boxes, hanging baskets and create raised garden beds. Flowers are probably the easiest way to add curb appeal and certainly one of the fastest way to increase the property’s appeal.

New Garage Doors

Drab garage doors make a bad impression on potential buyers. Get new doors with beautiful color or with an interesting design. These perk up any house very quickly. You can install doors made of wood, steel or fiberglass and these come in a variety of different colors.

Upgrade Door Hardware

Simple changes to outside doors can seriously improve that curb appeal. Change outdated locks and handles on front and side doors. Replace rusty fixtures and hinges for a newer look.

Bottom Line

These are just a few of the changes you can make to the exterior of your property. They are relatively simple to perform  and really do make a big difference when it comes to impressing potential buyers in the market for an Austin home.

Staging Your Home for the Sale Makes it More Appealing

Planning to sell your home at profit? Then, you need to know what prospects look for in the homes they buy. According to a study conducted by Better Homes and Gardens Real Estate, a beautiful presentation is the key to selling a home effectively.

What is home staging?

The art of highlighting a home's strengths and making it  visually appealing, with furniture, beautiful decor and spacious uniformity, is called the home staging process.

Home staging can be done either by home owners or professionals, and involves not just decorating, but minor repairs , easy eye catching landscaping, the removal of personal items that distract buyers' mind. It is the making  of the home into an appealing showcase that everyone loves.

Ways of Staging a Home

There are several ways of staging a home. Though, these are generally divided into two categories, partial home staging and full home staging.

Partial Home Staging: This is best for those owners who want to sell with minimal investments to present homes to prospective buyers. This involves rearranging furniture, fixing masonry cracks, painting with attractive colors, adding greenery, removing outdated housing hardware units, improves lighting, and adding interior decorations. Planning for partial home staging is to amend things which buyers usually look for in general.

Full home staging: In this process, an owner adds a new set of furnishings and accessories which present the home at it's best. It offers an eye-popping setup to buyers. Full home staging is very effective and presents the home at its best, allowing it to t sell at a profit and within a shorter span of time. It involves installing a whole new set of furniture, creating comfortable room environment, arranging furniture to create focal points, giving art work and decorating.

Benefits

Home staging benefits you by allowing your  home to make a good impression, one that enables a faster sale with a higher number of referrals and a better overall price.

A staged home keeps potential buyers in the home longer, allowing them to  connect with the home, and makes the home stand out over the other homes in the area that are for sale. 

Four of the Top Trends in Austin Luxury Homes

When you think of luxury homes, you may imagine a beautiful house built to look fantastic from every angle, inside and out. But the truth of the matter is, these houses are not just about looks. The best luxury homes today offer many convenient features that can make day-to-day life more enjoyable. Here's a look at four trends that are gaining in popularity with homeowners:

 

Built-in Storage 

This convenient feature is currently found in nearly every room of a luxury home. Libraries and offices feature custom-designed storage for books, but also to display awards, trophies, or prized travel mementos. Children's playrooms may have an entire wall filled with different-sized compartments built to accommodate all sizes of toys and mementos. 

Personalized Touches 

Builders work closely with their clients to put customized finishes on luxury homes so that the space becomes personalized and fits the most discerning of tastes. Some of these details are built on the exterior of the house. This might include a pergola to offer shade and comfort to outdoor areas.  Backyard entertaining spaces feature fireplaces, full outdoor kitchens, projection screens for movie nights, and other home accessories,  perfect for hosting guests or keeping the family entertained. Another hot trend for car enthusiasts is a car lift, which adds a  third or fourth needed parking area.

Exercise Space 

Exercise areas vary greatly from house to house. Yoga enthusiasts often request a customized room with rice paper paneling, natural light, and a raised yoga platform, where as more traditional gym goers will likely want free weights, stationary machines, and other standard gym equipment. Families can stay active in the home with the inclusion of a racquetball court, half-basketball court, or indoor/outdoor pool.  New pool features include cozy grottos, fun-shaped slides, in-pool seating, and waterfalls.

Automation 

Technology is also a major factor in the high-end luxury home. Homeowners can opt to have control of lighting, heating and cooling; all their home electronics; and security systems. In-house control stations give homeowners absolute control of all lighting and electronic devices in the home. In fact, many of a homes technology is now smart phone reliant, and can be activated and deactivated from anywhere through the owner's smartphone. 

Austin Offers Fabulous Possibilities

Amazingly, Austin, even with its low cost of living, has a varied and diverse cultural society, and a strong influence of music and Art. It is this that makes it one of the most desirable cities to live in. It is the fourth largest city in the state of Texas and the eleventh largest city in the US. Currently, Austin has a population of almost 2 million people.

Austin boasts many different home types and styles, all in different topographical surrounding. Homes sit on cliffs overlooking Lake Austin or sit in the heart of downtown in a simple yet stylish high-rise condo. Of course, you may prefer a quaint bungalow on the outer limits of the city, a ranch or a sprawling suburban contemporary home that sits in one of Austin’s suburban neighborhoods.

Why Austin

Wherever you live within the Austin area you are sure to enjoy interacting with neighbors that come from a diverse background; those that are artists, professors, students, tech gurus, and a variety of other people. In fact, Austin was voted as America´s number one College Town by the Travel Channel, yet it is also home to some of the most important technology enterprises in the nation, rightfully earning its name as Silicon Hills.

Neighborhoods

There are more than a few Austin neighborhoods that exemplify the meaning of “weird but interesting” a term Austin is known for. Downtown is diverse, and boasts homes that are gorgeous, eclectic and, yes even luxurious.  The blending of Austin’s different living possibilities  makes real estate in this area one of the most sought after investment opportunities in the state.

The Bouldin Creek Area

This has recently become a trending area to live, yet it still retains its artistic feel and a reflection of its colorful history. This history offers colorful attractions like Mexican bakeries, tattoo parlors, cafes and art galleries; it is these that give Bouldin Creek its ethnic flavor.

Hyde Park

This is an area that offers a historic ambiance. It is here that you’ll find residents lounging on porches and drink lemonade on their turn of the century wrap around porch homes. Tree lined streets offer protection to both businesses and residents of the area. This is area that sits on the Northern edge of the city is full of Victorian mansions, where now, some have been turned into apartments or beautiful Bed & Breakfasts. Today Hyde Park retains its architectural charm it began with more than a hundred years ago.

The Austin Real Estate Market

These are but a few of the nicer neighborhoods in the Austin area, where homes are selling at a faster rate than in other parts of the country. Despite the slow national real estate market growth, the Austin Board of Realtors has conducted studies on the home market for this area and found that home sales have risen 8 percent as of June of last year. On average homes were on the market for about 43 days, a number that is about 16 days fewer than last year.

Find Affordable Austin Real Estate

The desire to keep up with the neighbors is universal, at least it is in my community. We see someone with a new car, a bigger TV, better home, and we wish we had those things. It is this financial envy that gets people into debt and even into bankruptcy or home foreclosure. US News Money offers a simple solution.  Change your priorities.

There are two key learning aspects here: First, frugality requires you to come to terms with what you have and evaluate the things you can afford…and be happy with that. So you should only buy a home you can afford, one you will be happy in, but not necessarily a home that is as large as that of your neighbors. Second, comparing yourself to others doesn’t bring anything positive to your life. If you must compare yourself then compare your life to those that are less well off than you. This will give you a sense of appreciation for what you do have. 

How Do I Choose Austin Real Estate I Can Afford?

Actually, according to Austin Business Journal, Austin real estate is already really affordable, coming in second, next to Dallas as being the most affordable in the state.

Still there are a few things you can do to ensure you really find that Austin home you can afford. 

      1- Save up

If you have a larger down payment you have room to negotiate on the Austin property you want. Sellers are more likely to take you seriously, and mortgage lenders can offer you better deals. 

2- Clean Up Your Credit

A few months before looking at homes, you want to check your credit. Make sure your score is as high as you can get it. Do this by paying off as much debt as you can. Keep one or two credit cards on hand, use these but pay them off on a monthly basis.

 

       3- Specify Your Needs to Your Austin Real Estate Broker

Make sure you explain to your broker exactly what you are looking for. Give her the exact budget you have to work with, and explain that you are most concerned with affordability. 

      4-   Get a Mortgage Pre-approval

If you shop for your mortgage first, before looking at homes, you know exactly how much of a home you can afford. You also have a specific budget and your real estate agent can help you find the home of your dreams faster. 

In the End

Finding the perfect home is about planning, timing and sticking to your budget. You want a home you can enjoy, not one you have to struggle to find the monthly payment for.

Take on the Austin's Home Inspector's Role when Shopping for the Right property

People shopping for Austin homes have different priorities when shopping for a home. Some folks think school districts are important, others like a particular neighborhood. Some even drive street-by-street checking off possible home options. Others base their shopping decision on price and lot size. Regardless of the type of  home shopper you are, you should always take a second look, as savvy buyers know that finding that great bargain depends on your ability to develop as keen as eye as any expert home inspector. The following are points to look out for when looking at homes.

Water Damage

This could be the most damaging of any needed repair work. Water damage to an Austin home could be the initial cause of foundation problems, mold and rot issues. When looking at homes, inspect the walls, foundation and roof areas for discoloration and possible water damage.

Grade Sloping

Look for poor drainage which leads toward the home, instead of away from it. Drainage that leads toward the house can cause water damage to crawlspaces, walls and the foundation. It could also cause cracking and foundation movement.

Roof Aging

If you've ever seen an Austin home inspector at his job you’ll notice that he or she spends a lot of time looking upward. There is good reason for this, as an older home could have roofing issues. An older home may have roofing issues as materials are only made to last about 15 to 30 years. Look for corner staining or roof peeling as this could indicate damage and the need for extensive roof repair, which could be expensive. Look for cupping or blistered shingles or exposed matrix (the stuff used to adhere the shingles), as an indication of needed repair work.

Bottom Line

It’s important you have an Austin home inspected before you make a final decision. But even before you get to this point you should always bring a critical eye to any prospective home. Be sure to keep an eye out for damage, even before calling an inspector in to check the home. This can help you avoid unexpected expensive repair work.

The American Dream - Owning Your First Home is a Closer Reality than You Might Think

“I Too Am American,” a poem by Langston Hughes, an extremely moving literary work that speaks of what it is to be American, of hoping for that promise of the American dream. It is this poem that comes to mind when I think of the one true American dream, that of owning a first home.

Buying real estate, especially for the first time,  is a very ‘big deal.’ It is the ultimate symbol of adulthood, responsibility, prosperity, of the need to set down roots, and (in some cases) of raising a family.

Why not? After all, it is the perfect time to own a home; property prices are lower than they have been in more than ten years. Mortgage prices are also sitting at historic lows.  It is these two factors, more than any other that make this American dream well within the reach of most people. This is great news for first-time buyers. It is a time when you can buy low, and most likely, sell high.  But just to make sure you get that “Good Buy” we’ve set out a few pointers to help guide you along the way:

1-    The Timing

Make sure you are buying at the right time. Ask yourself a few questions that require hard-truth answers. Are you planning on moving in the next year or two? Can you rent a comparable home less expensively than you can buy one? Are you ready to make such a long term commitment? When you are buying real estate you need to think of it as a long term commitment; the era of flipping houses after a few months of ownership are long gone.

2-    Save Up

If your goal is to buy a home at a great price you need to start saving early on. Cash and good credit are critical in your getting a bargain on your home purchase.  The magic number here is about 20%. If you have a 20 percent down payment you can often avoid additional expenses such as that of purchasing Private Mortgage Insurance (PMI), an additional cost in your mortgage that protects the lender in the event of a default.

However, even first time home buyers without a substantial down payment, shouldn’t shy away from the buying process. Often lenders can find other ways of helping new owners find the down-payment amount.

3-    Credit Check

About a year before you plan to buy your house you’ll want to do an extensive credit check on yourself. Make sure all the information reported is accurate and take steps to remove any mis information, or report data that could benefit your credit report. Pay off as much of your debt as possible. If you have outstanding credit card debt, make larger monthly payments so you reduce these balances as much as possible.

4-    Get Pre-approved

The fastest way to find a great home at a great price is to get pre-approved for a mortgage. If a seller knows you are pre approved they are usually a little more enthusiastic about negotiate a final price. A pre-approved mortgage helps expedite the final purchase.

Bottom Line

Be realistic! No matter how much money you make, you need to shop for homes you can really afford. You don’t want to be stuck in a home that will take most of your monthly income. Remember, you’ll also need to make insurance payments, pay taxes and pay a certain amount in monthly maintenance expenses.  Planning for your first home purchase is essential to your getting a bargain, an investment that will give you a higher return within a few years.