Return on Investment. These three magic words can either make or break a seller’s piggy bank. Many new Austin real estate buyers and current sellers plan on tackling home improvement projects over the next few months. If you’d like to undertake a project this summer on your Austin area home in hopes of seeing a return on your funds down the road, here are five upgrades you can do now and still see a return years from now.
New windows can bring a lot of bang for the buck. Not only will they save you cash when paying the utility bill, but they will also increase the resale value of your Austin area home…especially if you live in an older home that still has wood or metal windows. Drafty, inefficient windows mean a colder home in the winter and a warmer home in the summer – not to mention increased spider and insect guests. And this is one upgrade that home buyers are sure to notice and appreciate. New windows will make your home feel and look newer than it actually is. If you’re interested in upgrading your windows, but aren’t sure where to start, ask your realtor. We know what buyers are looking for when searching for their perfect home.
Upgrading your kitchen appliances is always a good idea when improving your home for resale value. New appliances will catch the eye of any Austin real estate buyer. And if you’re a few years away from putting your home on the market, upgrade now and enjoy the new technology. We can even offer advice on which appliances will stand the test of time in the eye of potential buyers.
Low-maintenance landscaping will not only save your wallet, but will also save your weekends. Replacing your front yard lawn with low maintenance shrubs and trees is a great way to cut back on your utility bills, while giving you more time to spend relaxing and enjoying the Austin real estate area. And if you’re unsure what to plant, ask a professional. Most nurseries have a landscape designer on staff to answer all your design questions. And don’t forget to ask us for advice as well. We know what buyers are looking for in exterior spaces and can help you plan your dream landscape. The Natural Gardener in Austin is an excellent resource for low-maintenance landscaping.
Ductless mini-split air conditioning or heat pumps can be a great addition to a room. Knowing that there are still many opportunities to purchase and renovate older Austin homes, these units can be an inexpensive option to provide cooling and heating. They are less expensive to install than central air conditioning and heating and can allow a home owner to control temperatures room by room.
Storage is always a good idea. Austin homes for sale can never have too much storage. For everyday needs, closet organizers and kitchen cabinetry can mean the difference between a good morning and a stressful morning. And best of all, buyers will drool over your vast storage spaces and bring an offer that respects this valuable upgrade. Storage comes in all shapes and sizes, and your REALTOR will be able to give you useful advice on what types of storage will bring the best return on your investment. Bottom line, if you’d like to enjoy your Austin home improvement projects now and get your money back when it comes time to sell, make improvements that will stand the test of time…or better yet, gain value over time. And remember, you are not alone in your home improvement endeavors. If you’d like to ensure all your projects will be worth your time and money, give us a call and we will help you map out a plan that will bring you the biggest bang for your buck.
Guest post by Heather Lanoue of the Keller Williams Colorado Springs real estate offices.
CNBC announced the results of its study to determine which states are best states to do business in and Texas grabbed the top spot. The study looked at 40 different metrics in 10 categories, assigning each category a certain number of points. There were a total of 2500 points possible.
Categories studied included the cost of doing business, workforce, quality of life, economy, education and cost of living. With no state income tax and a minimal franchise tax, Texas score well in the cost of doing business. The state is a little weak at education in terms of high school performance, but has a number of great colleges and universities that contribute to the workforce every year.
Many people don’t realize that Texas is home to 64 Fortune 500 companies. That is more than any other state in the country and businesses move to the state often. Texas is also home to more Fortune 1000 companies than any other state.
The economy of Texas has remained relatively strong in spite of the national economy being such a mess. Having a lot of oil and gas resources has helped. Having an unemployment rate lower than the national average also helps. Because of each of these and other factors, the real estate market in Texas has remained healthier than most other states.
Read the entire story and see other state rankings HERE.
Rough Hollow is a wonderful community and it will get even better as it develops more. The 2010 Parade of Homes should introduce many more people to Rough Hollow as the Parade will be there just as it was in 2008.
So where’s the Charlie Brown connection? Around 15 years ago, when what is now Rough Hollow was just a nice cove on Lake Travis and a bunch of acreage with jeep trails running through it, I used to go there. I had a boat and my oldest daughter, Sarah, and I would go out on Lake Travis on weekends. Every once in a while we would pull into a cove, drop anchor and fish for a while.
One fall day we were boating and went into Rough Hollow Cove. I dropped anchor close to shore and we got out of the boat. Sarah had her Charlie Brown fishing pole with her. I knew a cold front was to come into the area, but it was just noon and the front was not supposed to hit until later in the afternoon. It seems that the forecast was slightly off.
I looked to the northwest and saw darkening skies. Knowing what was ahead I told Sarah that we needed to get back into the boat. Sarah had set her fishing pole down on one of the ledges that sort of stair-stepped down the wall of the cove to the water. We were in such a hurry to get to the boat, Sarah forgot about the fishing pole.
Just after we got in the boat and I fired up the motor the front hit. We took off for the marina just as fast as we could go. It wasn’t until the next time we got in the boat that Sarah realized she had lost her fishing pole. I knew right where it was, but we didn’t get back to Rough Hollow Cove until the next spring and the water was way up and we never found the thing.
Now Rough Hollow Cove is home to a great marina, large pavilion, restaurant and fitness center. Every time I am there I can’t help but think about that day years ago and I look down to where I think Sarah’s Charlie Brown fishing pole is. Over the years as boaters visited the cove and as people moved into Lake Travis waterfront homes on Rough Hollow Cove, I have a feeling the pole has been found and is long gone.
The 2010 hurricane forecast is looking pretty ominous. The National Oceanic and Atmospheric Administration is calling for 14-23 named storms with 8-14 hurricanes and 3-7 major hurricanes. These are pretty troubling numbers.
So not only do residents of the Gulf of Mexico face more huge problems from the oil spill, now they could face even more problems from the weather. People should be nervous not only about damage from a land falling hurricane, but also from how far inland oil from the Deep Water Horizon disaster could be carried.
Coastal communities and their residents from Louisiana to Florida have seen huge declines in income because of a drop in tourism and from closed fishing grounds. A few tar balls have even washed up on the beaches of eastern Texas recently. Because of the way currents in the Gulf flow, it is doubtful that the tar balls came on shore naturally. They were most likely stuck to the sides of ships.
So what might the future hold for Texas as oil continues to gush from the floor of the Gulf and if many areas of the Gulf and eastern seaboard get hit by hurricanes. The last time Florida got blasted my hurricanes, I had a good number of phone calls from people wanting to move to Austin and other parts of Texas.
Might we see people wanting to move to Texas? Perhaps, but only those who still have money and can sell their houses.
Besides the number of contracts I have working or the number of buyers I am showing homes to, I like to check my real estate website activity to see what people are doing online. The majority of people using my site are home buyers, not sellers, and many are anywhere from 90 days to 2 years away from buying. Some are also chronic lookers who will never turn into business.
As one can clearly see, activity really took off in January and in general this year has seen more traffic than last year. Some of that was probably due to the tax credit for home buyers. Some of it was probably from people who were just glad to see 1009 behind them.
But how many of these lookers will actually become buyers? Given the state of the economy and the fact that it looks like our economy will remain stalled for many more months, I don't know what to expect.
People with a lot of money are buying. People relocating due to a job change are buying - if they can sell somewhere else. Some people are still buying second homes.
Although traffic in June was great, I am hearing from a lot of buyer's agents that the month was very slow for them. I personally showed more homes in June that the entire first 5 months of the year.
So what lies ahead for the Austin real estate market? We'll know by the end of the year and beyond.
The good people of Jonestown, on the north side of Lake Travis, have finally had enough of the noise from Devil’s Cove. Devil’s Cove is the premier party cove on Lake Travis and it can see a lot of action.
Boaters go to Devil’s Cove from all over Lake Travis. They often tether the boats together and make one giant party. There are people in the water on flats, in the boats, making their way from boat to boat and there is usually a lot of alcohol and loud music. It is the music part that Jonestown residents are finally getting under control.
Beginning in early July, a new sound ordinance states that any sound loud enough to be heard from 100 feet away from the source is a violation. Jonestown police decided they would kick off the ordinance handing out warnings for the first few weekends and would start handing out actual citations later.
Partiers are not happy. The partying at Devil’s Cove has been going on for years and years. Many residents, especially those in the community of The Hollows, are happy with the ordinance. I know as a Lake Travis real estate agent I will simply not show property in The Hollows that overlooks Devil’s Cove. If someone really wants to see something there, it is complete disclosure. If the buyers are families with small kids, they will probably not look n the cove.
Hurricane Alex looks like it has finally decided where it will make landfall and where it will go after that. For a brief time, various computer models had it coming on shore in south Texas and then curving up to the Austin area. That could have been a very bad thing for Aquapalooza. If the area that drains into Lake Travis got 5-10 inches of rain, Aquapalooza may have been doomed.
However, the current path of Alex looks to be far enough south that we may see some rain bands with heavy downpours over some areas, but probably not enough to cause a flood. The good news is that we will have rain over the next several days and that will keep temperatures down and give our plants good moisture. The even better news for organizers of the 2010 Aquapalooza on Lake Travis is that the event should happen according to plans.
Single-family home sales in Lakeway have been better this spring and summer than a year ago, but it is still a bit slow in this Hill Country city. For the time period from April 27, 2009 through June 27, 2009, 45 single-family homes sold in Lakeway. The average price was almost $348,000 and that put the average sold price per square foot at $123.47. On average, homes sold for 95.16% of list price and took an average of 125 days to sell.
Fast forward to the same time period in 2010. During the same period there were 40 single-family homes sold. The average price was just over $369,000 and that put the average sold price per square foot at $131.25. On average, homes sold for 94.6% of list price and took an average of 87 days to sell.
There are currently 228 single-family homes in Lakeway listed for sale in the MLS with 32 of them showing to be under contract. Home prices range from $199,000 to $2.295 million.
Lakeway is a great city and is full of patriotism. The city hosts a great July 4th parade and a nice fireworks show later in the Lakeway City Park. The parade this year will be on Saturday, July 3. It starts at the Live Oak Golf Club and ends at the Lakeway Activity Center. The Lakeway July 4th parade typically has well over 100 entries ranging from groups walking to colorfully decorated flatbed trailers to vintage automobiles that almost never make their way outside of their owner’s garages.
Festivities at the park start at 6:00 PM. Parking is limited so the city will have free busses running from the Emmaus Catholic Church and Lakeway Elementary School to the waterfront park. There will be food available from Buster’s BBQ, Papa Murphy’s Pizza and more vendors. There will be giant inflatables for the kids and music for everyone to enjoy.
The fireworks show starts at 9:30. The shuttles will run people back to the church and school after the fireworks show.
Other July 4th events around the Austin area:
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Friday, July 2nd
Carlos & Charlies Fireworks show at dark
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Saturday, July 3rd
Lago Vista July 4th Celebration Location: Bar K Park. Registration for Firecracker 5K and 1 Mile Fun Run begins at 6:30 a.m. Sports, games, entertainment including fireworks from 9 a.m. to 11 p.m. with a parade at 10 a.m.
Lakeway July 4th Celebration Location: Lakeway Activity Center. Parade at 8:30 a.m. Pageant begins at 10:30 a.m. Lakeway swim center from 12 - 6 p.m. Entertainment including laser lights show and fireworks from 4:30 - 10 p.m. Note: must shuttle, no parking
Pioneer Farms Independence Day Celebration Location: Pioneer Farms. 10 a.m. - 5 p.m. Assorted activities include hay rides, branding iron demonstration, and other historical items. Children $6, Adults $8
Hutto Independence Walk Parade Location: Fritz Park, through Downtown and back. Parade registration starts at 8 a.m. Parade goes from 8:30 - 9:30 a.m.
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Sunday, July 4th
H.E.B. Austin Symphony July Fourth Concert & Fireworks Location: Auditorium Shores. Symphony performs at 8:30, fireworks at 9:30 p.m.
Wimberley 4th of July Parade and Jubilee Location: Cypress Creek Church grounds in South River. Live music and fireworks finale 6 - 9:30 p.m.
Elgin 4th of July Celebration Parade begins at 10 a.m. at Elgin City Hall. Celebration including fireworks and live music from 6:30 - 10 p.m. at Southside Market & BBQ property (Hwy 290 & 95N)
Fredericksburg Independence Day Events Parade at 10 a.m. from Courthouse Square, with patriotic program following at Marktplatz. Patriotic concert and fireworks at Lady Bird Park from 7 p.m. until end.
Round Rock July 4 Frontier Days Celebration Noon parade through downtown. Festival begins at 1 p.m. at Old Settlers Park with Austin Symphonic Band performing at 8:30 and fireworks at dusk.
East Communities YMCA 4th of July Family Picnic Swimming, food, contests and other activities from 10 a.m. - 2 p.m.
Georgetown SERTOMA 4th of July Celebration Location: San Gabriel Park. Parade, food, children's activities, and fireworks at dark. 11 a.m. - 10 p.m.
Johnson City's Fourth of July Spangle Dangle 3 p.m. to midnight at the Blanco County Fairgrounds. Grand parade at 6 p.m. on Pecan Avenue in front of the courthouse.
Cedar Park Fourth of July Celebration Location: Milburn Park. Entertainment, kids activities, food and fireworks 4 - 10:40 p.m.
Pflugerville Pfirecracker Pfestival Location: Lake Pflugerville. Entertainment, food, children's activities start at 4 p.m. with fireworks at 9 p.m.
San Marcos Summerfest Location: San Marcos Plaza Park 5 - 11 p.m. Children's parade, costume contest, fireworks at 9:30 p.m.
Leander Liberty Fest Location: Crystal Falls Golf Club. Live music, family fun, and fireworks from 6 - 10 p.m.
Volente Beach Fireworks on the Beach Show at dusk, free with daily admission, or $5 after 8 p.m.
Willie Nelson's 4th of July Picnic Location: The Backyard. All day family fun and concert, gates open at 11 a.m. show starts at noon.
Round Rock Express Location: Dell Diamond. Round Rock Express takes on the Memphis Redbirds at 7:05 p.m. with fireworks following the game.
Seaholm Power, LLC Location: Seaholm Power Plant. Party features drinks and food from local vendors and benefits local non-profit Anthropos Arts. Great view of fireworks show on Lady Bird Lake. 4 p.m. to end.
So should we be worried? We should be worried like we were early in the year when sales were slow. I was sitting with one of my favorite closing officers at dinner last night and asked her what kind of volume she was seeing. Jean told me that they have about 30% fewer transactions than they had 30 days ago. That should come as no surprise as the expiring tax credit required buyers to be under contract by the end of April in order to qualify. April saw a lot of contracts and May saw a drop.
We're also getting to the time of year when families need to get under contract quickly if they want to want to get moved before school starts. It is taking 4-6 weeks in general to get financing taken care of and we have around 6-7 weeks before school starts in the Austin area. That makes for a pretty short window of opportunity for people with kids to buy and get closed.
I took a Lake Travis waterfront home tour in a boat today and got some pretty good photos. I just added a page on my website showing these photos because people can really get a different perspective if they see Lake Travis waterfront properties from a boat. Check out my Lake Travis waterfront homes from the water photo album. Here are some samples:
This is an absolutely enormous house with a huge guest house on the north shore of Lake Travis.
This is a cliff-top waterfront home in The Hollows.
This house on stilts is in the Lake Travis floodplain and had to built up to get the first level of enclosed living space above the floodplain.
It’s no secret that we’re currently in a buyer’s market in many parts of Austin. And with that, many home owners are wondering if their older Austin home for sale has a chance in today’s competitive housing market. And this is certainly a valid concern. The good news is that making your older Austin real estate area home out-show newer homes is not as hopeless as you might think. And that is where your Austin REALTOR® can lend you a solid helping hand. Here are three methods for ensuring a quick and smooth sale of your older home
Older Austin homes for sale typically come with mature trees, and this is a feature that you will never find in newer neighborhoods. Why not create a no-kidding, show-stopping landscape. The yard doesn’t have to be a gardener’s dream, but should complement the lifestyle of potential buyers. Family-oriented Austin neighborhoods should have lush, expansive lawn spaces where kids can play. And older, retirement real estate areas should have mostly low maintenance landscaping with a small area for gardening. Bottom-line, if buyers love the outside curb appeal, they will already be prepared to fall in love with the inside too! Our REALTOR® are trained to know the landscaping elements that are most attractive to potential buyers for all Austin real estate areas.
The biggest concern for home buyers considering older Austin homes for sale is maintenance. Ensuring big-ticket items such as roofing, heating and cooling systems are in good condition is essential to selling an older home. If it’s just about time to replace these items, try to replace them before putting your home on the market. It’s tempting to “leave them for the next person”, but in reality, there may not be someone else if you are unable to sell your Austin real estate area home. And an older home that is advertised as having new energy efficient upgrades will certainly grab the attention of not only earth-conscious buyers, but also money-conscious buyers. Our REALTOR® help all our sellers identify which upgrades will grab the most attention from potential buyers.
Professional renovations do come with a price tag, but if your goal is to sell your home quickly and efficiently, there is no better solution. And if you’re handy with a power drill, that’s even better. But a word of warning, if your own handy work doesn’t produce “model home” results, it’s best to leave the home as it is. Nothing will turn off Austin real estate buyers more than “do-it-yourself” quality. Keep in mind that the money spent on a professionally installed renovation could save you much more in wasted mortgage payments if the home sits empty for even a month longer than it needs to.
Think BIG when making renovation plans for Austin homes for sale. Open floor plans and tall ceilings are trends that will linger for years. Many older homes, however, are the exact opposite, with low ceilings and closed floor plans that focus on creating distinctly separate rooms. Taking walls out of a home can be a daunting project, however, a licensed contractor can help you with this project in a matter of days for minimal cost. You’ll be amazed how this slight floor plan change can distinguish your home from others in the neighborhood. And while there’s not much you can do to raise a ceiling, there are certainly decorating techniques that can make rooms appear taller. We offer all our sellers tips for renovation possibilities that will lead to big returns at the closing table!
And most importantly, use an Austin REALTOR® with experience in marketing older homes! Our Sellers have the peace of mind that their home will sell quickly and for a fair value. If you want to make sure the sale of your older Austin real estate area home is both successful and rewarding, Contact Us and we will ensure that you sell your home for Top Dollar!
Authored by Heather Lanoue who works with Colorado Springs real estate.
I posted a while ago about how much Lake Travis waterfront home inventory is available and have been wondering when it would start selling. All of a sudden I am seeing a big jump in buyer traffic for Lake Travis waterfront and Lake Travis view homes. Just this month alone I have shown such property to 3 different buyers and have more to show in coming weeks. Now I am curious about how many of them will actually buy something. With so much inventory on the market and some motivated sellers, people with the desire and means to pick up a home on Lake Travis or with a Lake Travis view, this summer might be a great time to buy.
I was having a conversation with a couple I was showing Lake Travis view homes yesterday over lunch and we were talking about the oil spill and how Texas can actually benefit from it. The oil has netagively affected Louisiana, Mississippi and Alabama and is now hitting Florida. As this well continues to spew oil into the waters of the Gulf, it may make its way into the Gulf Stream and then up the east coast. Beaches from Florida all the way to New York may be affected.
On the other hand, Texas beaches remain clear. During the lunch conversation I was telling my buyers that Texas could see an increase in tourists on our beaches and that could be great for our economy. Our seafood industry could also feel a positive impact as up to 1/3 of Gulf fisheries have been closed. After seeing the final home we drove to Marina View Way in Rough Hollow. My clients wanted to walk around one of the villas even though they knew we could not get inside right then as I had not set that one up for a showing.
The Rough Hollow Yacht Club Marina
As we were looking in the back by the pool we saw a couple enter the villa. They walked to the back and opened the door. It turned out that this couple from Louisiana had been vacationing on a Florida beach for 25 years, but cancelled their Florida trip this summer out of fear that the beaches would be closed because of the oil spill. Rather than the Texas coast, they chose to vacation at Lake Travis. This couple basically provided proof of the earlier conversation about how Texas will benefit from the Gulf oil spill.
This time it was Kiplinger, ranking Austin #1 on its list of Best Cities for the next Decade. The study that looked at over 200 cities looked for smart people, great ideas aod collaberation. The first sentence in the description of why Austin is so great was: "Austin is arguably the the country's best crucible for small business." It went on to later state: "In the self-proclaimed live-music capital of the world, music and business creativity riff off one another."
So between business, brainpower, creativity, liveability and just plain fun, Austin took the top spot. See the story here.