I not only wish my Realtor had told me these things when I bought my first house, but also my second!
I've been fortunate to have things work out, but a huge part of my motivation for becoming a REALTOR was to help others make wise decisions that work for them rather than LUCKY ones!
Via Janet Guilbault California Mortgage Banker/Broker:
1. You are 25 years old. In 15 years, you will be 40 years old. Wouldn't you like to have this house paid off and be only 40 years old?
2. The price of buying a FIXER is you have to LIVE in a fixer, and be chained to it on weekends (when you should be out having fun) You are only young once.
3. You can change the ugly carpet, but you can't change the ugly location.
4. Buying a house should be about making memories, not making money.
5. Believe it or not, the real estate agent knows more about real estate than you do.
6. Buying a house is like having a baby. You forget the labor pains the moment you see the baby.
7. Getting the house before the financing is like getting the cart before the horse.
8. Your friends are just jealous.
9. Is this house REALLY worth the commute to your job?
10. Psssst! It costs more than just the payment to have a house, and the yard doesn't take care of itself, either.
Sunday, March 21, 2010
Monday, February 22, 2010
Need an Easy Way to Track Your Personal Finances?
Last week I had the great fortune to meet with an excellent financial adviser. As we were discussing our financial goals one of the things that came up was the need to have a better understanding of our personal budget and expenditures. He suggested that we check out http://www.mint.com -- it's what he and his family use.
We're just getting started but it seems like a great tool. Easy to set up, easy to use, secure and FREE! Once you sign up, you connect your bank accounts and credit accounts. Mint.com pulls in your transactions and categorizes them. It's secure because you cannot conduct any transactions from the site. You can add cash transactions in manually or recategorized transactions if necessary. It creates cool charts and lets you see where your money is going with very little effort on your part.
I'll keep you posted on what we learn.
Happy Budgeting!
Carol
We're just getting started but it seems like a great tool. Easy to set up, easy to use, secure and FREE! Once you sign up, you connect your bank accounts and credit accounts. Mint.com pulls in your transactions and categorizes them. It's secure because you cannot conduct any transactions from the site. You can add cash transactions in manually or recategorized transactions if necessary. It creates cool charts and lets you see where your money is going with very little effort on your part.
I'll keep you posted on what we learn.
Happy Budgeting!
Carol
Thursday, February 18, 2010
Can't Afford a SXSW Wristband
It's been a very cool and rainy February here in Austin. At least we haven't had the snow lots of the country has had. The good news is that lake levels are on the rise which is a great sign for the summer! Now things are starting to warm up and the sun has been shining. March is around the corner and there are tons of things to do in Austin! It's almost as if they know we've been cooped up all winter and need a bunch of fun things to do to renew ourselves!
For those of you who've lived in Austin more than a few months (or even if you don't live in Austin), you know that March is the month for Austin's largest and most anticipated festival - South by Southwest (SXSX). Originally a music festival putting indie bands and recording industry reps into contact, the festival now includes a large and impressive film festival, as well as a video gaming/design component.
SXSW tends to overshadow the other events taking place in March, but there's plenty of other things going on as Spring comes to Austin for those who can't afford the wristband this year.
March 2 -- Texas Independence Day Celebration
March 3 -- FREE Outdoor Yoga at Republic Square Park (I hope this is still going on. At the time I wrote this I can't find an updated website)
March 4 -- First Thursday
March 5 -- FREE Cowboy Breakfast (This is one of those events I always want to attend, but forget about until I hear about it on the local morning news, and by then it's too late!)
March 5 -- Austin Executive Women's Golf Association 2010 Kick-Off Wild West Casino Night
March 6 -- It's My Park! Day
March 6 -- Explore UT
March 6 -- Sunshine Gardens Plant Sale
March 6 - 8 -- Texas Independence Day Celebration
March 7 -- Zilker Kite Festival
March 7 -- Lunafest -- short films by, for, about women
March 8 -- International Women's Day Celebration (Women's Global Network: Austin)
March 10 -- FREE Outdoor Yoga at Republic Square Park
March 12 - 21 -- South by Southwest (SXSW)
March 12 - 27 -- Rodeo Austin
March 13 - 14 -- Artists and Artisans Festival - Lady Bird Johnson Wildflower Center
March 14 -- Daylight Savings Time Begins (Set clocks forward 1 hour)
March 15 - April 30 -- Wildflower Days
March 17 -- St. Patrick's Day Festival
March 17 -- FREE Outdoor Yoga at Republic Square Park
March 20 -- SPRING Begins!!!
March 20 -- Austin Music Awards
March 24 -- FREE Outdoor Yoga at Republic Square Park
March 27 -- Earth Hour (Not an offical event here best as I can tell but it's an easy thing to do and interesting experience -- especially if you have kids!)
March 27 - 28 -- Zilker Garden Festival
March 31 -- FREE Outdoor Yoga at Republic Square Park
If you can't find something on the list that interests you, call me and hopefully the weather wll let us play golf!
For those of you who've lived in Austin more than a few months (or even if you don't live in Austin), you know that March is the month for Austin's largest and most anticipated festival - South by Southwest (SXSX). Originally a music festival putting indie bands and recording industry reps into contact, the festival now includes a large and impressive film festival, as well as a video gaming/design component.
SXSW tends to overshadow the other events taking place in March, but there's plenty of other things going on as Spring comes to Austin for those who can't afford the wristband this year.
March 2 -- Texas Independence Day Celebration
March 3 -- FREE Outdoor Yoga at Republic Square Park (I hope this is still going on. At the time I wrote this I can't find an updated website)
March 4 -- First Thursday
March 5 -- FREE Cowboy Breakfast (This is one of those events I always want to attend, but forget about until I hear about it on the local morning news, and by then it's too late!)
March 5 -- Austin Executive Women's Golf Association 2010 Kick-Off Wild West Casino Night
March 6 -- It's My Park! Day
March 6 -- Explore UT
March 6 -- Sunshine Gardens Plant Sale
March 6 - 8 -- Texas Independence Day Celebration
March 7 -- Zilker Kite Festival
March 7 -- Lunafest -- short films by, for, about women
March 8 -- International Women's Day Celebration (Women's Global Network: Austin)
March 10 -- FREE Outdoor Yoga at Republic Square Park
March 12 - 21 -- South by Southwest (SXSW)
March 12 - 27 -- Rodeo Austin
March 13 - 14 -- Artists and Artisans Festival - Lady Bird Johnson Wildflower Center
March 14 -- Daylight Savings Time Begins (Set clocks forward 1 hour)
March 15 - April 30 -- Wildflower Days
March 17 -- St. Patrick's Day Festival
March 17 -- FREE Outdoor Yoga at Republic Square Park
March 20 -- SPRING Begins!!!
March 20 -- Austin Music Awards
March 24 -- FREE Outdoor Yoga at Republic Square Park
March 27 -- Earth Hour (Not an offical event here best as I can tell but it's an easy thing to do and interesting experience -- especially if you have kids!)
March 27 - 28 -- Zilker Garden Festival
March 31 -- FREE Outdoor Yoga at Republic Square Park
If you can't find something on the list that interests you, call me and hopefully the weather wll let us play golf!
Monday, February 15, 2010
Those Who Wait Will Pay Thousands More This Spring
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).
Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now to save big.
Here are a few reasons why:
On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both upfront and monthly.
It is important to note that in order to be eligible for the lower cost up-front mortgage insurance, a lender has to order a case number from the FHA before April 5th. A case number can only be generated for loan applications where a property is involved and a fully executed purchase contract exists. Home buyers who have been pre-approved but are not under contract will not be eligible for the reduced premium effective April 5th.
Later this spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.
There is only one way to avoid being affected by all of these costly changes that lie ahead – submit all FHA mortgage applications by the last week of March.
Thanks to Rick Baron at HomeTrust Mortgage for the heads up and information on these important changes. If I can answer any questions you may have about how these changes could impact you, call or email me.
Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now to save big.
Here are a few reasons why:
On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both upfront and monthly.
It is important to note that in order to be eligible for the lower cost up-front mortgage insurance, a lender has to order a case number from the FHA before April 5th. A case number can only be generated for loan applications where a property is involved and a fully executed purchase contract exists. Home buyers who have been pre-approved but are not under contract will not be eligible for the reduced premium effective April 5th.
Later this spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.
There is only one way to avoid being affected by all of these costly changes that lie ahead – submit all FHA mortgage applications by the last week of March.
Thanks to Rick Baron at HomeTrust Mortgage for the heads up and information on these important changes. If I can answer any questions you may have about how these changes could impact you, call or email me.
Tuesday, February 9, 2010
Need a Valentines Idea in Austin, TX?
Looking for someplace to take that special person for dinner on Valentines Day? Here are some restaurant ideas! (With thanks ot Tiffany Stillwell at Patten Title)
- Opal Divines: 700 W. 6th -- 512.477.3308 -- Beer Dinner: $65/couple includes 2 salads, 2 Filet steaks, & shrimp plates wtih sides, Grand Marnier Strawberries Romanoff Dessert & 6 beers!
- Broken Spoke: 3201 S. Lamar -- 512.442.6189 -- Affordable feast of grilled or chicken-fried steaks, $8 cover Dale Watson & an evening of two-stepping!
- Manuels: 310 Congress -- 512.472.7555 -- Enjoy upscale Mexican food & everyone receives a complimentary glass of champagne and chocolate covered strawberries.
- Reed's Jazz & Supper Club: 9901 Capital of TX Hwy N. -- 512.342.7977 -- A jazz lover's dream date. At $65/person you receive a fine dinner & get to enjoy the entertainment of Lucky Strikes, a fabulous swing jazz band.
- Judge's Hill Restaurant: 1900 Rio Grande -- 512.495.1857 -- Enjoy a fabulous 4-course prix-fixe menu in one of Austin's most romantic settings for $49.50/person
- McCormick & Schmick's Seafood: 401 Congress Ave. -- 512.236-9600 -- They'll be offering their regular menu, but are giving people the opportunity to pre-order roses for the table. A single rose with a vase is $15.
- Mizu Prime Steaks & Sushi: 3001 RR 620 S. -- 512.263.2801 -- for $100/couple, you get a 3-course prix-fixe menu with complimentary aperitif for ladies; for $30/couple you also receive a full wine pairing.
- Max's Wine Dive: 207 San Jacinto Blvd. -- 512.904.0111 -- For $99 you receive the James Bond Valentine Special which includes a bottle of Bollinger Rose Champagen, 2 bottles of wime & chocolate-covered strawberries.
- Hudson's on the Bend: 3509 RR 620 N. -- 512.266-1369 -- Enjoy an extravagant 6-course dinner for $200/couple.
Sunday, February 7, 2010
Great Opportunity 11428 Birchover Lane, Austin, TX 78754
The backyard has a playscape, dog run, pretty magnolia tree and lots of room for entertaining, playing or gardening. The back fence is even brick!
Priced below market, it's a great opportunity to update and build equity or Fix and Flip! This home is being sold short. Call me to take a look and make an offer today!
Harris Branch, Austin, Texas -- An Affordable, Convenient Family Community
Looking for an affordable family neighborhood convenient to major employers and downtown? Check out Harris Branch. Located just north of Hwy 290 East between Hwy 183 and TX 130, it's a quick commute to anywhere north of the river and south of Georgetown. With major employers like Applied Materials, Samsung and Dell located close by your commute will be quick and you'll have plenty of time to enjoy your new neighborhood! You're also minutes from downtown and Austin-Bergstrom International Airport.
Neighborhood amenities include a Junior Olympic size swimming pool, lighted tennis and basketball courts, a fitness center and lots of walking/jogging trails. There is an active Homeowners Association.
Children K-5th grade attend Bluebonnet Trail Elementary, a Recognized elementary school located within the community. Older kids attend Manor Middle School and Manor High School. There is also a large day care located within the community -- great for working parents!
If you're a golfer, you are in luck. Harris Branch is located within minutes of several local golf courses. Shadow Glen Golf Course is located off Hwy 290 between Harris Branch and Manor and features natural wetlands and GPS guided carts. Bluebonnet Hill Public Golf Course is a full service course with extensive practice facilities, an 18 hole course and 4 teaching pros. Just a short drive away you'll find Blackhawk Golf Course, a challenging links style course that wanders through the Blackhawk neighborhood. Just a bit further north on TX130 you'll find the Golf Club at Star Ranch, named one of Golf Digest's best places to play 2008/2009. With all these options you're sure to find a course that suits your mood and game.
Harris Branch is definitely one of Austin's more affordable neighborhoods. In the past 90 days homes have sold for between $139,000 and $171,000. The average home sold was just under 2000 square feet with 3 bedrooms and 2 baths. Homes for sale today range in size from 1438 to over 4000 square feet with prices starting at $121,500 and topping out at $240,000.
Neighborhood amenities include a Junior Olympic size swimming pool, lighted tennis and basketball courts, a fitness center and lots of walking/jogging trails. There is an active Homeowners Association.
Children K-5th grade attend Bluebonnet Trail Elementary, a Recognized elementary school located within the community. Older kids attend Manor Middle School and Manor High School. There is also a large day care located within the community -- great for working parents!
If you're a golfer, you are in luck. Harris Branch is located within minutes of several local golf courses. Shadow Glen Golf Course is located off Hwy 290 between Harris Branch and Manor and features natural wetlands and GPS guided carts. Bluebonnet Hill Public Golf Course is a full service course with extensive practice facilities, an 18 hole course and 4 teaching pros. Just a short drive away you'll find Blackhawk Golf Course, a challenging links style course that wanders through the Blackhawk neighborhood. Just a bit further north on TX130 you'll find the Golf Club at Star Ranch, named one of Golf Digest's best places to play 2008/2009. With all these options you're sure to find a course that suits your mood and game.
Harris Branch is definitely one of Austin's more affordable neighborhoods. In the past 90 days homes have sold for between $139,000 and $171,000. The average home sold was just under 2000 square feet with 3 bedrooms and 2 baths. Homes for sale today range in size from 1438 to over 4000 square feet with prices starting at $121,500 and topping out at $240,000.
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