Austin Texas Real Estate Blog

Asset protection is a term many home owners are well aware of, however first time home owners often know little about. Asset protection is the insurance designed to help protect your real estate and the assets within your home, in the event of unexpected emergency. Often this focuses on financial disasters, however, it is not limited there to. In the end, it is the asset protection that assures the value of the property regardless of the unexpected.

Old time asset protection

When you begin your investigation into asset protection you will need to investigate all possible options. Once you have reviewed the benefits of each option and settled on a plan there will be an assessment done on your home. The insurance company will also asses the demographics of your area. From there they will combine the results and provide an estimate of how much protection is available to you and your home. The agent will take the time to explain the programs they have available and how to select one. Discuss this with your real estate attorney prior to signing the documents.

The final protection will be defined by the state and counties laws in the area. Typically, retirement and disability benefits are not included as part of the protection, however in very unique circumstances it could be made possible. Personal items, such as jewelry, clothing and furniture are also not covered as part of this umbrella; however some states allow a percentage of these assets to be covered.

To assure what you own receives the best coverage when it is needed most, then your hunt for real estate shouldn’t include just loan and house hunting. The search needs to also include your asset protection evaluation. Protect what you have and you will find it is there for years to come.

Real estate is a business that many don’t realize can be made very simple for a buyer or seller by selecting the right person to represent you. Sounds like over simplification? It isn’t in the least. Real estate is a very involved process that includes knowledge of local and state laws alongside any applicable federal information. This means that as a buyer or seller you have a significant amount of research to do, particularly if you are considering approaching a home purchase or sale on your own. To make things work in your favor, it is beneficial for you to have all of the facts or the right person to help you through the process.

The best lessons are learned from experience. Thus your more valuable ally is an experienced real estate broker who can show you their success record. This is the cornerstone for a successful real estate sale. It is this experience that will set a real estate agent apart from the crowd. In Austin, there are a plethora of realtors who have been working in real estate for 3 or more years, part time, and only a few who have been successfully working and selling homes full time. Obviously the person with the full time record will have the success rate you are looking for.

The next crucial fact is that your agent or broker should also be communicative. If you encounter a situation that requires attention you should feel comfortable calling them. There should be no reason for a lack of communication, even when standard office hours have passed. Having a person you can develop a solid and open basis of communication will enable you to understand every step of the home selling or buying process.

Your best solution would be to contact someone like Affinity Properties to represent you and aid you to your success.

With the down-turn of the economy and the highest unemployment figures in decades, many people are becoming more aggressive in finding new employment. Others people are retraining for a new way of life. Some discerning people are taking a new approach, investing in their futures. We highlighted some facts to consider.

In a real estate climate of plummeting housing prices and the rising number of foreclosures, individuals with a good line of credit, a little bit of cash, a discerning eye, and nerves of steel, can start a new life and their own business.

Now is the time to invest, and Austin is the place to invest in.

Opening any business in a normal economy is a very risky business in itself, and the odds of surviving in business within the first five years are precarious at best. But consider the current climate where you have the most valued “tools” and the prices of your product can shake out “diamonds in the ruff” are at rock bottom prices. This would probably make the chances of surviving your first five years a little better. Also consider that most people entering the Real Estate market now have only one way to go, up! There is also the possibility of finding and purchasing the home of your dreams, over and over again. These are the positives of this Real Estate climate.

However, plunging head first into Real Estate, or any business, is not advisable. Even if you have all of the most valued tools available to you, it is always a good idea to work with a trustworthy, knowledgeable realtor, banker, and home inspectors. Contacting and depending on your qualified real estate agent will enable you to find the best prices and the best houses for your investment.

So you’re selling a home in Austin. If it becomes possible to review a new home area, or several open houses do so. In this case the size does not matter, neither does type of home. What you are going to be looking at is the design. You will see there are some wonderful, sparsely furnished homes, set for anyone to live in. The key word here is anyone. The house is anonymous in design, they are set for anyone to move in or imagine themselves living in. You may find a ball, or a toy, but no pictures.

You may cross into the home and find it has great personality, but you won’t see the person. It enables the person viewing the home to picture themselves in it, instead of the current owner. This is crucial in selling your home. You are enabling your potential buyers ideal setting, their home.

How do you make your home anonymous?

The easiest way is to take the family pictures off the wall, remove your personal trophies and collectibles. Secure them safely in a box and put them away. It can be on the shelf in a closet outside the home, or better yet put it in a storage room or shed. It will open the house up to the imagination of the home buyers.

Once that is done, remove the clutter so as to keep it all to a minimum. The less clutter the more space the home buyer will see.

Invest in Commercial or Residential properties.

There are a lot of decisions that must be made when investing in Real Estate properties. Each property Investment will have its own unique requirements and conditions. Therefore, strategic planning is of the utmost importance.

Some of the issues you will have to consider before planning are your budget, and financing. Knowing what your budget will allow will guide you to the kinds of investment options that will qualify as a viable plan.

There are two initial investments in which you will have to decide. The investment is to either go with commercial properties, or to go with residential properties. Each property investment, whether commercial or residential, will have a unique subset of requirements, regulations, zoning laws, tax requirements, and the list goes on.

Residential real estate properties offer two choices in the type of residential investment property you choose to make: single family dwellings or multi-family dwellings. The single family dwelling is a detached home zoned for a single family to occupy. Another single family investment dwelling is a townhouse which is defined as, a luxurious house in a large city occupied entirely by one family, or one of a row of houses joined by common sidewalls. They are subject to the occupant board to address common living areas and subject to maintenance costs.

Multi-family dwellings range from a duplex to condominiums. The duplex is defined as a house having separate apartments for two families. An example of this is a two-story house having a complete apartment on each floor and two separate entrances.

Condominiums can be either commercial or residential properties and are defined as: an apartment house, office building, or other multiple-unit complex, the units of which are individually owned, each owner receiving a recordable deed to the individual unit purchased, including the right to sell, mortgage, etc., that unit and sharing in joint ownership of any common grounds, and passageways. They are subject to the occupant board to address common living areas and subject to maintenance costs.

Commercial Real Estate properties can be designed to be whatever the renter/leaser requires. Wikipedia defines Commercial property as including office buildings, industrial property, medical centers, hotels, malls, retail stores, shopping centers, farm land, multifamily housing buildings, warehouses, garages, and industrial properties.

Whatever investment you decide to go with it is always a good idea to check with a professional opinion from an industry specialist such as Joe Cline, real estate agent.

Does your home need a remodel? Most homes don’t need a full remodel before going on the market, but there are some things that you can do before you market your home that will increase the overall value. Some of these suggestions are simple and easy to do, and will make a big difference when it is time to sell your home.

1 – Paint outside and inside.

Over time the color of paint loses it luster and vibrancy. A simple re-coat can significantly brighten a home, and clean away any wear and tear that might be visible. Along with the time it takes to lose it color, the color choices may have fallen ‘out of style’ and thus may lessen the value of your home. By reviewing you color selection and updating as needed, you are able to maintain or improve your home’s overall value.

2 – Tile your home

Tile is both durable and easy to maintain. This couple will enable your home to be the best and most comfortable possible for all who will visit, and perhaps to new home buyers. Carpet wears over time, and can diminish a home’s appearance significantly. The change from one to the other can be done easily and far more inexpensively than most people may anticipate. Often it costs the same as or less than laying down new carpet.

3 – Install exterior shutters around the windows.

Although this is a purely cosmetic appeal, it significantly improves your home’s look and feel. Numerous surveys and studies have been done and something as simple as wooden shutters make a home feel more cozy and comfortable, which would make the home both more appealing to new buyers and easy to transition into.

These are only 3 of the most basic options available to you. They can be done with little extra expense. If you would like to improve for a more lasting and complete package, hiring a home inspector would be the best next step. He or she would be able to give you a complete picture and guide you to the best points to focus on. You can check the cost vs value report to see how much you will expect to see back for each remodel.

Home Buyers find opportunity during the summer. As sellers realize that the warm weather is more accommodating to the moving process they put their homes on the market. This wonderful process enables a buyer to shop for the home they want, and will be happy in for years to come. This means now is the time to prepare to buy the home of your dreams.

To help in the process, take a few moments to review these 3 tips:

First things first, determine what it is about the home you’re in that is making you want to move. This will help you in your search. You will know what you are looking for so you can identify it clearly to your Realtor.

Finding the best Realtor who can accommodate your needs is the next tip. You will need to do some research, as there are multiple thousands of registered Realtor in the area. You will want a dedicated Realtor, much like you find with the award winning Affinity Properties Team. A dedicated Realtor will search for a home that fits your description, not just what they have on the market in the office. They will put your needs and desires first and foremost. This means you get what you want, need and can grow with.

The last tip relates to your budget and financing. Evaluate what you have to spend on the process, closing budget, down payment etc., and take that to your finance company of choice. Have a pre-qualification letter in hand before you start searching. It will help guide you toward your budgeted home of choice. If you have a home to sell, you can have a contingency clause written into any sales agreement, and financing agreement.

By using these great tips together you will be on the best track to find your new home.

The weather is getting warmer, so is the itch to move. If you are wanting to sell, now is the time to watch the area and see the market move. This means that now is the time to start planning for the move and the sale. As with everything, advanced planning makes everything move smoothly.

Here are some simple and quick tips for preparing for the home sale that will open the way to your new home purchase.

First things first, find the right Realtor. There are nearly 8 thousand licensed real estate agents and brokers in the Austin real estate arena. Many chose to do this part time, while working another job. This means they may have less experience than you expect they may. When you are looking for your agent, look for experience, and a company that has a proven track record. This is essential especially in this buyers market. Affinity Properties can certainly prove success, even now.

Prepare from the moment you consider listing. That means make sure your house is clean, in good repair and staged. Doing this work in advance will help you and your Realtor, determine what needs to be done for you and for the top dollar sale of your home. When possible have the home inspected before you place it on the market. This will give you an accurate understanding of what your home needs, or doesn’t while determining the asking price.

Listen to your Realtor, if you’ve taken the time to research a little bit you know that your Realtor will be able to tell you when the market is ready for your home. By timing the release to the market to the flow of your area you will be able to sell your home in the briefest time possible. Summer is the busiest time to sell your home, don’t be caught unprepared.

With this combination you will be able to get the best price, in a brisk summer market You will be able to combine these tips for the greatest success.

Don’t forget the home buyers side of this 2 part – it is the next article.

It is the rare individual who today buys a home outside of a development. Almost all houses and units of property are a part of a planned community. As such, almost all houses and units of property are governed by a homeowners association (HOA). In fact, it is estimated by the American Homeowners Resource Center (AHRC) that 50 million Americans are members of HOAs. But what exactly does this mean?

A developer creates an HOA before he sells any unit in a new development. With the HOA, he is able to formulate a list of covenants, conditions and restrictions (CC&Rs). These rules are written into the deed, so no homeowner can contest them after moving in. More often than not, the CC&Rs deal with maintenance, exterior upkeep and community behavior.

There are many benefits of HOAs. For example, an HOA often creates a degree of conformity. For someone looking for a community in which certain values and terms are upheld, an HOA thus fosters an ideal situation. However, there are also a number of perceived disadvantages to living in an HOA-governed community. Many believe that an HOA is undemocratic and that it takes away the rights of the individual by forcing him or her to adhere to the community’s CC&Rs. An HOA can also lead to higher taxes and financial risk if the developer is less than forthright.

If you are buying a home, you should be aware before you sign any papers of whether your new house is in an HOA community. If it is, you should research it, so as to best understand if this HOA is serving the homeowners well. In Texas, you have many resources at your fingertips. There are a number of organizations, such as the Texas Homeowners for HOA Reform, Inc, working to ensure you are not hoodwinked by an HOA. Take advantage of them. Learn before you sign, and you’ll be certain to enter a community with the individual’s rights in mind.

You are about to put your house on the market. But before you list, given real estate’s current status, you decide you need an edge over your competitors – an extra draw for buyers. You are thinking along the lines of a remodel. You might renovate the kitchen, making everything huge, shiny and modern; you may knock down the wall between the den and the spare bedroom for a deluxe guest room; or you may turn the two-car garage into a one-car garage and a breakfast nook. They all sound good to you, but which possibility is the best? None of them.

In today’s economy, you don’t want to waste money on an extensive remodel. Chances are it will only cost you in the long run thousands of dollars, dollars you won’t gain back in the sale. Construction prices have risen, even as housing prices have fallen, and buyers are wary of homes priced higher than those around them. Further, lenders won’t go near the more expensive homes, meaning prospective homeowners won’t be able to secure a mortgage, and few out there can purchase a home without one. In short, you’ll be left with a beautiful kitchen, basement or garage, but no sale.

If you are looking to give your home a face lift, focus on outside touch ups. Fix the trim, the windows, the shutters. Invest money in what the homeowners will see from the street, so that by the time they walk in, they are already sold. If you can’t afford to install new windows, as your budget is only capable of small adjustments, don’t bother. Cheap fixes are more noticeable than grand refinishes or grand errors. You will have to accept that your house is going to be sold as is and hope there is a buyer who can buy it.