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Texas First Time Homebuyer Program - Bond Program 77 - Austin, TX

The Texas Department of Housing and Community Affairs (TDHCA) announced last month a new program to assist first time homebuyers in the state of Texas.  With the expiration of the $8000 federal homebuyer tax credit in April 2010, this program provides another opportunity for individuals and families looking to purchase their first home.  The TDHCA has released up to $500 million to fund the program.  Bond Program 77 targets low to medium income homebuyers.

I attended a presentation yesterday explaining the benefits of Bond Program 77.  Two loan types are available for homebuyers - assisted and unassisted loans.  Here are details of this new state program:

• Unassisted loans (those not requiring down payment or closing cost assistance) can lock interest rates near 4.99% on 30 year mortgages - very close to current market rates*
• Assisted loans provide homebuyers assistance with down payments and/or closing costs; interest rates for assisted loans are near 5.74% on 30 year mortgages*
• Homebuyers using the assisted loans program can receive up to 5% of the loan amount to be used towards down payment and/or closing costs; down payment/closing cost assistance is provided through a second lien at a 0% interest rate
• The second lien has no additional monthly payments; The amount (up to 5% of the mortgage) is due in full upon sale, refiance, or repayment of the first lien
• Bond Program 77 allows for homebuyers to use conventional, FHA, VA, or USDA loans
• All participants in the program must complete a "Homebuyer Education Program"; it outlines the terms of the program and prepares homebuyers for the expectations of owning their own home

As with all government assistance programs, homebuyers are required to meet specific qualifying criteria.  The "Homebuyer Education Program" helps to ensure individuals know what they are getting themselves into before making such an important decision.  It is important to know Bond Program 77 does have a recapture tax.  It is equal to 6.25% of the original loan amount or 50% of the gain on the sale of the home.  However, Homebuyers will not be subject to the recapture tax if:

• The property is sold 9+ years after the mortgage has closed; OR
• There is no gain on the sale of the property; OR
• The borrower's actual gross income in the year property sells does not exceed the modified adjusted gross income

This is the single largest financing incentive ever offered by the Texas Department of Housing and Community Affairs.  It is a unique opportunity for first time homebuyers in Texas, but it will not last forever.  If you are interested in learning more about opportunities in Austin and the surrounding area, please feel free to contact me.  I am happy to discuss this opportunity, and get you in touch with a mortgage professional that can provide in-depth details to the Bond Program 77.  Don't miss this one of a kind chance to own your first home!

*Loan interest rates vary.  All loan information may be subject to change.  Please contact a mortgage professional to confirm rates and mortgage details

Open House - Allandale Condo For Sale - Sunday May 23 1-3 PM

I'm holding an open house this weekend for a condo for sale in north central Austin.  It is a two bedroom, two bath condo in Allandale.  The condo is actually right on the edge of the Allandale and Crestview neighborhoods.  These communities are well established and highly desired.  They are filled with unique home styles, and the convenient location to the surrounding areas cannot be overlooked.    

The owner has lived in this home for a number of years, and the work she has put in can be clearly seen.  It is only one of four floorplans like it in the whole community.  It is multi-level featuring two master suites on each floor.  The downstairs master has a custom built birch closet with lots of storage and saves tons of room.  The condo has vaulted ceilings in the living area with ceramic tile.  The kitchen has stainless appliances. 

The community is very quiet and peaceful.  It features welll maintained common areas with large mature trees and a gazebo.  This particular condo has three decks, one of which looks over the main common courtyard.  There's lots of shade and space to enjoy the outdoors.  It also has a pool for enjoying spring and summer afternoons.

This Allandale condo for sale is conveniently located off Burnet Road, an original Austin roadway.  The Burnet Road area has seen a lot of redevelopment of the last few years and has been recreated as one of the premier business corridors in the city.  The property is minutes away from great resturants and shopping.  A few blocks north is the Northcross Mall, which is filled with shops, restaurants and a nearby move theater.  This condo is perfect for anyone looking to enjoy the leisures of central Austin.  Yet, with its convenient access to 2222, Mopac, IH-35, and HWY 183, one can be in any part of town within minutes.

The open house is this Sunday May 23 from 1-3 pm.  It is located at 2104 Cullen # 206 Austin, TX 78757.  It is priced at $137,500.  I encourage you to come by and see it!  If you would like to view more pictures, check out the virtual tour.  Please feel free to contact me for more information! 

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Open House - Preserve at Stone Oak - 3210 Arroyo Bluff Ln. Round Rock, TX 78681

Are you looking for the perfect home in Round Rock?  Come visit our open house tomorrow in the Preserve at Stone Oak.  This is a great community located off Hwy 1431 in Round Rock.  Stone Oak offers great amenities for the entire family including including a junior Olympic pool, kiddie pool and clubhouse.  It has several playscapes and parks for the family to enjoy.  The community also has over thirty acres of green belts with caves to explore!

3210 Arroyo Bluff is currently the lowest price home in the Preserve at Stone Oak.  It has a great floor plan that that you're sure to love.  The living room is oversized with laminate wood floors, which allows for flexibility in its layout.  There's nothing worse than a small living space that can only be designed one way.  The kitchen is open the living room, and it quite spacious as well with a large dining space.  It has tile floors, a center island with a breakfast bar, large pantry closet, and lots of cabinet space.  Each of the three bedrooms has laminate floors including the master.  The master suite has a separate shower, garden tub, and walk in closet.  The secondary bedrooms are nice sized with large closets.

The home will be open Saturday from 1 to 3 pm.  It's great home at a great price.  If your in the Preserve at Stone Oak neighborhood, it's worth the time to come for a look.  Those looking to take advantage of the tax credits should hurry by.  It was under contract once, but the buyers got cold feet!  Be sure not to miss this great opportunity.  I look forward to seeing you on Saturday!

Check out the Virtual Tour!

What do you see when you dream of your home?

We all have our "dream" homes.  For some, it's nestled on the side of a snow caped mountain where you can open your back door and ski right onto the slopes.  Others imagine beach front living with a large deck to enjoy ocean breezes and breath taking sunsets.  I've got mine just like you got yours.  But that is not what I thought of when I started writing this.  My question really is... what do you see of when you dream of your home? 

We all know that the home buying process is detailed.  What I am saying is put aside all the internet searching, the open houses you're attending, and all the neighborhoods you keep driving through.  We all know price is an obvious factor, but let's place that to the side for the moment as well.  What do you really want? 

If you're buying for the first time, this can be your first real challenge.  Are you single and looking for at least one extra room so a roommate you can help offset some of your monthly mortgage?  Do you have a flexible work schedule that allows you to perform your job outside of an office?  If so, you may want a dedicated home office outside of your living areas and/or bedrooms.  Are you recently married and soon to be?  You'll want to consider whether your home should fit your immediate needs, or if you plan to start a family in the future.  You may love to entertain so a large living room and extra bedrooms will be needed for your pseudo bed and breakfast.  Or perhaps you're looking at all the empty space now your kids have finally moved out and wondering if all that vacuuming is really worth the trouble.

Here is Austin, TX - like many metropolitan areas - there are a diverse number of communities and with a seemingly limitless array of home styles to choose.  We've got high rise condos in the heart of downtown, funky bungalow homes built nearly 100 years ago, ranch homes in the ‘burbs, and luxury homes with breath-taking views of the hill country and lakes.  The style that fits your personality exists.  It's requires patience when searchingfor your dream, but you know what you want - so what's the hurry?!?

What you may start to find is what you're looking for may change as you look for that first/next home.  If you find that to be the case, you're mostly certainly on the right track.  You'll even be surprised when your "must haves" change or simply get struck from the list (and how quickly too)!  What I tell anyone looking for a home is - don't sacrifice what you really want.  Yes, you need to have realistic expectations.  There's no such thing as wasting time when it comes to your dream.   So prepare yourself for what you want and be willing to wait for it if necessary.  It's not your Realtor's home or your lenders or your best friend's.  It's your home. 

Open House in Brushy Creek North - 2505 Hilltop - Round Rock, TX - Sunday March 25

I'm hostng an open house this Sunday at one of our great listings in Brushy Creek North.  It is a unique house in this sought after community.  The house is perfect for a buyer who is eager to roll up their sleeves, and put in some sweat equity.  With the work the owner has already done and a bit of updating, this home will be top notch!  It's over 2300 square feet with multiple living spaces, master suite, and formal dining room!  It's also currently the low priced home in the Brushy Creek North.

It's got a really cool enclosed courtyard and large back deck.  A corner lot with over 1/2 an acre in Brushy Creek North is not easy to come by.  The home backs up to a greenspace/park with a trail and playground for the kids.  The owners have lived in the home for a long time and absolutely love the community.  Check out these photos to get a glimpse of what this home has to offer:

Here's the courtyard as you walk into the front of the home.  It's got saltillo tile and a cool tree that provides great shade in the spring and summer.  A great place to relax outside and stay out of the heat.

Beautiful laminate wood floors in the living room with exposed beams.  It's a great area for the family to spend time or just relax.

The house has beautiful stone countertops and built in oven.  The kitchen is open to the breakfast area and living area.  You can look out the window over the huge back yard and greenspace that backs up to the property!

This is a shot of the HUGE back yard.  It backs up to greenspace with a running trail.  The house has both covered and uncovered decks! 

If you're in the neighborhood, I encourage you stop by this fantastic Brushy Creek North home.  At the attractive price of $244,500, it's a great opporunity to get in a family-oriented community.  The Round Rock ISD schools are highly desired.  It's got easy access to 1431, so you can get around town very easy.  If you have questions about this home or the area in gerenal, just let me know!  You can also learn more at the Brushy Creek North community website.  Also, visit our website to see more information on this great home!

Quick Market Stats - Tarrytown & Clarksville Neighborhoods - Central Austin, TX 78703

February 2, 2010 - March 5, 2010 - 30 Day Analysis

Here is a quick look at the market activity for two popular central Austin neighborhoods - Tarrytown and Clarksville.  Homes in these areas range in a wide variety of age and styles.  It is not uncommon to see historic homes next door to modern and contemporary designs.  Tarrytown and Clarksville are two of the original Austin neighborhoods.  They each offer lot of charm with great access to downtown Austin, Lake Austin, and the Hill Country.  I'm often asked about these areas, so I wanted to share some quick market stats.  This shows an overview from the last 30 days or so. 

While the number of active listings remains somewhat high for the area, there are a healthy number of pending and sold properties within the last month.  The existing home buyer tax credit has certainly added incentive to many home owners to move up or down depending upon their needs. 

If you have any questions about this information, or would like a more in depth look at these areas in central Austin, please send me an email with the subject "Tarrytown/Clarksville Market Stats".  I'd be happy to send you that information.  Have a great day!

Open House - North Austin Condo for Sale - 14025 Ashton Woods Circle Austin, TX 78727

I will be hosting an open house in North Austin at 14025 Ashton Woods Circle.  I recently wrote a blog post about this home.  It is located in Ashton Woods Condos, a quiet private neighborhood in North Austin.  It is conveniently located near Mopac and Howard Ln.  It features two master suites - one upstair and one downstairs.  This community offers easy, low-maintenance living!

I know it's Valentine's Day, but what better way to spend time with your significant than looking for your next great home.  Here are all the details below.  If you're interested in other homes for sale in North Austin, please visit our website.  I hope to see you at this great North Austin open house!

***Attention Buyers***  The first-time home buyer and existing home owner tax credits provide a great opportunity to buy your next home (just like this one!).  Please feel free to contact me to receive more information about both tax credits.

Location:  14025 Ashton Woods Cirlce

February 14, 2010 (Valentine's Day)

Time:  1-3 pm

North Austin Condo for Sale - 14025 Ashton Woods Circle Austin, TX 78727 - MLS# 8832089

This is a wonderful North Austin condo for sale just listed for sale.  It is located at 14025 Ashton Woods Circle in the quant Ashton Woods Condo community.  This is a quiet community conveniently located near Mopac opposite the Wells Branch Community.  This particular condo for sale has a great floorplan.  It has 3 bedrooms and 3 full bathrooms.  Each of the two floors includes a master suite with double vanity and walk in closets. 

The condo is located in North Austin, but is tied with Round Rock ISD.  With some of the top schools in the nation, this really adds to the value of the home.  This homes has the feel of a spacious house with the convenience of a condo.  The Home Owner's Association takes care of all external maintenance and landscaping.  So every home in the community is always in pristine condition!  The photo above speaks for itself.  Ashton Woods Condos are warm and welcoming.

Upon entry, you see the main living area.  The condo for sale features hard tile throughout the entire living room and kitchen.  The high ceilings add to the large feel of the living room.  It's got a beautiful stone accent fireplace.  Nothing beat a nice fire on a cold winter day!

Here you see the dining area off the kitchen.  Hard tile floors make life so much easier - they always look good and are easy to keep clean.  The dining area is right of the kitchen.

The kitchen has beautiful granite countertops and custom tile back splash.  The cabinets offer plenty of storage along with a large pantry (just out of view).  The high breakfast bar adds another dining element for this condo for sale.  The size of the kitchen is great for this home - enough space to move around but easy to keep tidy!

 This is the second living area.  It is a loft right at the top of the stairs.  It can easily function as a fourth bedroom, yet provides a nice area to lounge in its current layout.  It would work great as a home office!

This is the upstairs master bedroom.  Look at all the space.  It allows the flexibility of multiple layouts.  It's got a huge walk in closet and private bath. 

The upstairs master bathrooms features beautiful tile in-lays.  It has a double vanit, sitting space, garden tub, separate shower, and linen closet.  It's got everything needed!

The downstairs master offers as much space as the upstairs master.  Again, it allows flexible layout, walk-in closet and master bath.  The master bath has the same feautes without the garden tub.  The third bedroom is a nice size as well. 

The backyard provides a cozy space to sit out and enjoy the sunshine.  It's got a patio with room for a table and chairs.  Fire up the BBQ pit and have a feast!

As mentioned before, the location of this North Austin condo for sale is very convenient.  Just around the corner for the Ashton Woods Condos is the new Howard Station for the CapMetro Rail.  It is set to open March 2010 and provides a direct commute into downtown Austin.  For those buyers that work downtown and want a quiet lifestyle and great schools of Round Rock ISD, this condo for sale is perfect!  Below you will see the map with its location.  Across Mopac is Wells Branch community.  It has great restaurants and miles and miles of walking and biking trails. 

As you can see, this North Austin condo for sale offers many great features.  It is a great place to call home.  If you are interested in learning more about this home, please feel free to contact me via my website.  I would also be happy to provide any additional information on others homes in this area.  There has not been a better time to purchase a home.  The Austin-Round Rock area is ranked at the #1 real estate market in the country.  The combonation of affordable homes, active lifestyle, innovative business environment, and quality education will only continue to draw people to the area.  I'll be here to help you any way I can! 

Round Rock Ranch Home for Sale - Round Rock, TX 78664

I want to share some great details for a great Round Rock Ranch home for sale.  It was listed just a few weeks ago and has seen a lot of traffic.  What is so cool about this particular house is the location within the community.  Whether you are familiar with the area or not, Round Rock Ranch is a great community.  This particular homes sits on a cul-de-sac of sorts.  It's a beautiful corner lot, but the best part is it backs up to large acreage.  In fact, it is a summer camp right in the middle of Round Rock.  How cool is that ?!?  You can literally walk out you drive way and see horses grazing in an open pasture 50 yard aways!  I could not believe it the first time I saw it with my own eyes.

So as you can see, this home has some serious unique qualities.  The exterior is not the only stuff worth talking about.  This Round Rock Ranch home for sale has some great features inside, and the owners went the extra mile to make this house top notch.  They added beautiful hard wood floors all throughout the first floor including the living area, kitchen/dining, and downstairs bedroom.  Now, a great feature of this home is it has a downstairs bedroom and full bathroom, yet the master is upstairs.  One big "drawback" I hear from buyers when a home has the master up and no bedrooms downstairs.  If you have grandparents that like to visit, or may live with you, stairs can be tough.  The current owners just use it as a office, but it is more than enough space for a secondary bedroom.

As I mentioned, the master is upstair along with two other bedrooms (total of 4 bedrooms).  The home has a total of 3 full bathrooms including the master suite.  The master has a large walk in closet and the owners added additional space.  The master bath has double vanity, separate shower, garden tub, AND you can see the horses from here too!  This Round Rock Ranch home for sale is one of a handful that get this view.  The remaining two bedrooms are very nicely sized for secondary bedrooms.  The owners also installed an outdoor kitchen by the covered back patio.  It includes sink, grill, burners, and a small fridge.  This could possibly one of the greatest assests for beautiful spring and summer days.  I personally would LOVE to have this for myself!  You'll make all your friends jealous when they come over for a weekend barbeque.

I cannot over-emphasize that the location of his Round Rock Ranch home for sale is stellar.  Beyond its unique location within the neighborhood, the community in general gives great accessibility.  Being located near Gattis School Dr. and A. W. Grimes, you can hop onto IH-35, Hwy 79, or the 45 tollway.  It's a super easy commute to north and central Austin.  The schools in Round Rock are near the top in the whole country.  This particular home links with Gattis Elementary, Ridgeview Middle, and Stony Point High School.  What's not to love about living in one of the safest, fastest growing communities with some of the best schools available.  If you want to look at more pictures of this Round Rock Ranch home for sale, check out our virtual tour.

I encourage you to search more for more available homes in the area.  I would be more than happy to answer any questions you have about this great home or any others in the area! 

Turtle Creek: Affordable New Homes in Round Rock, TX

I got a first hand look at a great community in Round Rock yesterday.  I held an open house in Turtle Creek, an affordable new homes in Round Rock, TX.  All the homes have been built in the last year or two.  With only a few homes still available, the builder of the community is preparing to begin the second phase.  With the dramatic cut backs in new home starts over the last two years across the country, it shows that Turtle Creek really is a growing community of affordable new homes in Round Rock.  

The neighborhood has a great feel to it.  All the houses have detached two car garages in the back of the home (garage door opener included).  The garages are accessed by several back alleys.  It allows the builder to maximize the curb appeal of the houses.  Several have front porches and there is a lot of unqiue styles, so every home does not look the same.  Of the remaining homes available, they range from 1300-1500 square feet.  These affordable new homes in Round Rock all feature 3 bedrooms and 2 1/2 full baths (including a master suite).  While the floorplans differ slightly in the layout, they all feature a spacious living area, full kitchen with brand new appliances and comfortable dining off the kitchen.  Each home has a small backyard with a white picket-like fence.  It really makes for clean, consistent look throughout the community. 

There are several benefits for buying affordable new homes in Round Rock.  While the resale market is strong in the area, new construction from a reputable builder- especially for first time buyers - gives a sense of assurance that cannot be over looked.  These homes are built to the highest standard with top notch materials.*  They are built to be energy efficient with all new appliances.  Efficient appliances can really help to save money over the years.  While "green" living has become much more popular over the last decade, saving money on utility costs tends to be put on the backburner when buying a home. 

The early part of the year is also a great time to buy one of these affordable new homes in Round Rock.  During the winter, construction costs are usually lower than the busier spring and summer.  The builders have done a great job pricing these homes.  Starting in the $130's, these homes fall well within the FHA loan limits (only require 3.5% down payment).  The builder also offers an option to roll in closing cost (this is subject to approval, of course).  On top of the great price is the $8000 tax credit for first time buyers.  The tax credit has been extended, but all homes must be under contract by the end of April.  Why wait until the deadline?  It's much better to beat the rush!

Turtle benefits from being in a fantastic location.  It has great access to Hwy 79, IH-45 tollway, and IH-35.  You can be in downtown Austin in 15-20 minutes no problem.  There are many great nearby business and restrauants, espically the Round Rock outlet mall, La Frontera, HEB, Starbucks, and much more.  The outlet mall has every store imaginable.  Round Rock is the fast growing city in the U.S.  It has one of the top school districts in the country, and it's been voted one of the safest cities many years in a row.  With all these great area amenities, who wouldn't want to live in one of these affordable new homes in Round Rock??? Turtle Creek also happens to be the lowest cost new community in the area.

For more information about this area, please feel free to email me.  You can visit our website to learn about the Round Rock area! 

*It is always suggested to perform a full inspection by a licensed inspector prior to purchasing a home - new or resale.  An experienced Realtor® can help explain the home buying process in great detail.