ZeroHouse
Posted on January 17, 2010
Filed Under Green Living, Homes | Leave a Comment
Can you live entirely off the grid? It’s possible with a house designed specifically for zero net energy use. Local architects Scott Specht and Louise Harpman are developing just that: ZeroHouse, a house designed to operate with no connections to external sources of power or water. [Link]
“The off-grid model has the most challenges, so that’s the test case we designed for,” Specht said. “We think that the value is in the complete self-sufficiency, the absolutely minimal environmental and site impact, and the fact that this would be a model for what can be done — a ‘first adapter’ demonstration of the ultimate in green living.”
The architects consider Austin the best place to bring the ZeroHouse into the residential real estate market, becauise “Austin is the center of the new green economy.”
Housing bust and mobility
Posted on January 17, 2010
Filed Under Economy, Real Estate | Leave a Comment
More collateral damage from the housing bust: workers are less apt to relocate for employment because they can’t afford to sell their homes in a down market — so they stay put. [Link]
The ability to relocate for employment, which helped the U.S. economy recover quickly after previous deep recessions, is the latest victim of the housing bust. About 12.5 percent of Americans moved in the year ended March 2009, the second-lowest on record, estimates Brookings Institution demographer William Frey, after a 60-year record low of 11.9 percent the previous year. Out-of-state moves, usually associated with job changes, have been at a record-low 1.6 percent for two years, he said.
Austin’s housing market hasn’t been hit as hard as other areas, but it’s harder for workers with homes in other states to sell their homes and relocate here, so there can be an impact on relocation business.
Austin’s housing fundamentals are strong
Posted on January 14, 2010
Filed Under Austin, Economy, Real Estate | Leave a Comment
The Austin Board of Realtors and the Home Builders Association of Greater Austin held a housing and economic forecast event Wednesday at the AT&T Executive Education and Conference Cetner at UT. Eldon Rude of MetroStudy said that economic and housing fundamentals are the strongest among the more than 40 housing markets across the country, and that “when the U.S. economy improves, Austin will be one of the first markets that shows stronger growth in its housing market.” Housing starts are down but stable, with an increase possible this year. Read more at Statesman.com.
Returning calls
Posted on December 27, 2009
Filed Under Buyers | Leave a Comment
Mark Hall of Vancouver, Washington tells the story of a client who didn’t return her calls when it was critical to stay in touch. This happens more often than you would think. When you’re in the market for a home, it’s important to stay in communication and return calls promptly, especially when you’re in the process of making an offer. You never know who else may be presenting a contract at the same time.
Want to know more about how to be a successful buyer? Check out these tips.
Short sales to avoid foreclosure
Posted on December 20, 2009
Filed Under Foreclosure, Mortgages | Leave a Comment
If you’re in danger of foreclosure, one possible remedy is a short sale, where the mortgage lender agrees to accept less than is owed. These are complex transactions, but new measures that go into effect next April might make them easier. Meanwhile it remains a slow process, and lenders prefer loan modifications to short sales. [Link]
The new guidelines “focus on a range of elements in the short sale process. They suggest,
for instance, that lenders offer second-lien holders up to $3,000 of
the short sale proceeds, with Treasury reimbursing lenders up to $1,000
for doing so.”
Under the guidelines, homeowners who are considering a short sale
are encouraged to speak with their lenders early in the process about
an acceptable sales price for the house, rather than simply contacting
a lender when a buyer has made an offer.And owners who complete a short sale will receive $1,500 from the federal government for relocation costs.
Who buys foreclosures?
Posted on December 16, 2009
Filed Under Foreclosure | Leave a Comment
In general, home buyers “have a negative view of buying foreclosures,” but an article at CBS Moneywatch.com says real estate investors, trade-up buyers and renters have a strong interest in buying foreclosures, so they’re still a big part of the housing market.
The article provides an interesting set of statistics. For example, 24% of homeowners express some interest in trading up to a larger home, and 88% of those would consider a foreclosure. Also 57% of people who are currently renting would consider buying a distressed property, and the figures are even higher among younger renters.
(If you’re interested in foreclosure statistics and news, RealtyTrac has a “Foreclosure News Report.” You can subscribe here.)
Appliance rebates!
Posted on December 12, 2009
Filed Under Green Living | Leave a Comment
Texas is using $23 million in federal stimulus money to finance rebates for replacing older appliances with newer ones that are energy-efficient. According to the Austin Statesman, “rebates will range from $45 for room air conditioners to $1,600 for some heat pumps. Consumers can also get a $75 rebate for recycling the older appliances.” More information here.
New Year’s Resolution: Buy a Home
Posted on December 6, 2009
Filed Under Buyers, Real Estate, Sellers | Leave a Comment
A Move.com survey suggests that “17.7 percent of Americans want to take the plunge and finally become first-time home buyers.” That’s actually a big percentage, more than half the adults who don’t own a home, according to Baltimore Sun’s Real Estate Wonk. 15.7 percent consider buying an investment property a priority.
One driver for homebuyer optimism is the extension of the Home Buyer Tax Credit.
Wondering about the inventory of homes in Austin? At the moment it’s down 9% – you can see statistics about local inventory and prices here.
“Reality” real estate
Posted on December 6, 2009
Filed Under News, Real Estate | Leave a Comment
As you might have guessed, those “reality shows” about real estate on channels like HGTV are not particularly real. Given that, is there something you can learn from them? Read more in the Chicago Tribune.
” ‘House Hunters’ is house candy,” [Chicago Realtor Eric] Rojas said. “It’s not realistic.
It’s directed. You don’t learn anything about buying. You learn about
real estate values. You learn about how houses look.”Despite all that, agents who’ve done it say they still watch the show,
and they’d go back on it again. After all, it’s great marketing
exposure, particularly because programs are repeated.“It’s totally fake, but does anybody think reality TV is real? It’s all
canned, but it’s fun to watch,” said real estate agent Karl Vogel, who
also was featured in a recent episode helping a Boston native find a
home in Chicago. “Who can say they don’t like to be on television,
except you look fat?”
Short sales
Posted on December 2, 2009
Filed Under Economy, Mortgages | Leave a Comment
Selling a home below the current moertage amount create a “short” sale. This minimizes the damage to the seller’s credit and minimizes the financial loss of the lender, as well as minimizing the fall of the local market prices. Good for all, right? Except it takes a long time, and many buyers can’t or won’t wait.
The new Treasury Department rules may improve the situation for some, but in most cases don’t go far enough to have real impact, such as the $1,000 offer to lenders to cover their admin costs, or the $3,000 offer to cover losses of second mortgages, which can be hundreds of thousands of dollars.
It will be some help for pricnipal residences, delinquent loans, and loans made before 2009.
keep looking »
About Marsha Lebkowsky
If you're thinking of buying or selling real estate in Austin, Texas, contact Marsha Lebkowsky. Marsha is an experienced Austin Realtor®, with over fifteen years dedicated to the Austin Real Estate market. She's especially knowledgeable of south and southwest Austin.
Marsha at Twitter: http://twitter.com/marshamoves
Marsha at LinkedIn: http://www.linkedin.com/pub/6/a76/b6
Marsha at Austin Board of Realtors-
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