Tips Blog

And guess which city is number 9 on that list?  Well Austin, Texas of course!  In a recently published article by Marilyn Lewis of MSN Real Estate, she breaks down the cost of buying verses renting based on current market conditions to determine which is the smartest way to go finanically.  Based on the data provided by the National Low Income Housing Coalition and the Center for Economic and Policy Research, Austin/Round Rock placed 9th on the list of best places to build equity in a home.  The market will always have up and down cycles and there can always be uncertainty.  The good news is that Austin still has that cache and pizzazz that bring people here and keep them and if you’re still on the fence about buying, come and talk to Carol Dochen Realtors so we can work the numbers and help you make the best decision possible.

There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service Info@CarolDochenRealtors.com

From the Austin Business Journal:  

Austin ranks third among U.S. cities when it comes to highest high-tech salaries, a new study shows.

The average high-tech worker in Austin earned $100,500 in 2006–113 percent more than that the metro area’s average private sector wage, according to the American Electronics Association report titled Cybercities 2008: An Overview of the High-technology Industry in the Nation’s Top 60 Cities.

The report tracks trends in tech employment, wages, payroll, employment concentration and wage differential across the country’s largest cities.

As a whole the tech industry employed 68,800 people in Austin in 2006, making it the 23rd largest tech market in the nation ranked by total employment. The area’s largest tech sector was the manufacturing of electronic components, such as semiconductors. That arena employed 16,000 workers in 2006, followed by computer systems design (11,900) and computer and peripheral equipment manufacturing (10,700). The combined high-tech payroll in Austin in 2006 was $6.9 billion.

In terms of high-tech employment concentration, or tech jobs as a percentage overall jobs, Austin ranked 8th in the nation.

Cybercities 2008 shows that the New York area ranked No. 1 in terms of overall tech jobs, followed by Washington D.C., San Jose/Silicon Valley, Boston and Dallas-Fort Worth in that order. Seattle saw the largest tech job growth, adding 7,800 jobs in 2006.

 “There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service.” Info@CarolDochenRealtors.com

From the Austin Business Journal: 

Austin ranks 13th among 69 U.S. cities as a place to build wealth, according to a survey from Salary.com.

Another Texas city, Plano, tops the list, followed in order by Aurora, Colo.; Omaha, Neb.; Minneapolis; and Albuquerque, N.M.

The 2008 Salary Value Index ranked New York City as the worst metropolitan area to build wealth. Washington, D.C., Los Angeles, Honolulu, and San Francisco rounded out the worst five cities.

In compiling its survey, Salary.com took into account local salaries, the cost of living and unemployment rates relative to the national average. It also considered diversity of industry, the education level of each city’s population, proximity to post-secondary institutions, the percentage of residents below the poverty level and median commuting time.

Waltham, Mass.-based Salary.com (Nasdaq:SLRY) provides information about compensation.

“There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service.” Info@CarolDochenRealtors.com

This article was printed in the Austin American Statesman on Friday, June 20, 2008:

Business might not be any easier for builders in the coming months.  They face rising construction costs and consumers who want better deals because they see the national housing market plummet, a local housing expert said Thursday.  For the next half of the year, builders will need to continue to be more selective about the communities they invest in and wait “until the buyers come” to them, rather than build speculative housing, said Mark Sprague, Austin partner of Residential Strategies Inc. in his midyear housing forecast to the Home Builders Association of Greater Austin.  But buyers may not be getting cheaper deals for long, he said.  With building costs on the rise, consumers need to buy now because, in order to make a profit, builders won’t be able to afford the same discounts and incentives next year, Sprague said.  Local developer Dick Rathgeber agreed, noting that the costs of materials and gas are on the rise.  “There’s nothing that goes into the price of a house that is going down in price,” Rathgeber said. “Short of a foreclosure, (housing) prices next year are not going to be cheaper. The builder cannot afford to produce it.”  Sprague emphasized that the Austin market remains one of the strongest in the country, despite the decline in local home sales. Although median home prices are down 25 percent nationally, Texas and Austin are still seeing appreciation, Sprague said.   “We’ve had a phenomenal market,” he said. “Austin is where everyone wants to be. We see values going up here.”  Austin is “the safest investment in the world right now,” he added.  Sprague said that the days of easy money are gone, making it tougher for many possible home buyers to get loans. In April, the latest figures show that sales of existing homes fell for the 10th consecutive month, and new listings soared 20 percent to a four-year high.  But Sprague said most new lot developments have been mothballed, chipping away at excess inventory in the new-home market. He said Central Texas still has less than a six-month supply of new homes.  And with 18,000 lots available and ready to build on — “a very small number,” he said — he predicts that in 18 months to two years, “we’re not going to have enough lots.”  He said Austin is poised to recover from the housing downturn more quickly than coastal markets because of job and population growth, though both are slower than last year. “We’re down but not out,” Sprague said. 

Down but not out indeed.

“There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service.” Info@CarolDochenRealtors.com

Some of us literally wait by our mailboxes around this time of year.  We know it could be any day that we get our friendly notice from the appraisal district with our new property value.  Many people have a hard time deciding if they should protest or not, and if they do want to protest, don’t know how to go about doing a successful one.  After you file your protest (and the deadline this year is Monday, June 2nd with some exceptions), it is important to start to gather relavant information for the hearing.  Any information that can be provided to give an indication of your home’s value is critical.  Neighborhood sales, pictures of problems or issues with your house, bids to fix things that would otherwise have a negative impact on your value are all pieces of evidence that can be brought before the appraisal district.  Typically the first meeting is an informal one on one with an appraiser.  Use this opportunity to see the sales they are using to set the value of your home.  Try to figure out if they truly are “comparable.”  If you aren’t able to get a reduction at the informal, use that information when going back to the formal hearing in front of the Appraisal Review B0ard.  Although many times it can seem like a crapshoot or that your protest falls on deaf ears, I have seen significant reductions when a solid case is made.  It never hurts to try and it can hurt a lot more if you don’t!

There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service Info@CarolDochenRealtors.com

Did you know that Mayor Will Wynn has recently introduced a proposal that could severely delay the closing of your next home sale? The Austin American Statesman (May 6, 2008) reported that there is a proposal before the Austin City Council that will require homes that are at least 10 years old to have an enery-efficiency inspection before the house is sold. A certificate of inspection with recommended upgrades would be added to sale paperwork. The buyer would need to make the upgrades before selling the house. The amount of work required would be based on the sales price of the house with preliminary price caps set at .5 percent of the sales price for homes worth $100,000 or more. For the median home in Austin, valued at about $175,000 in 2007, the cost would be capped at $875. The Austin Board of Realtors has established a website, KeepAustinAffordable.org, that provides information about the proposal. The concern is that the proposal would slow closings and may be too costly for elderly and lower income residents. The website will continue to be updated as more information becomes available.
There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service. Info@CarolDochenRealtors.com
 

For those of you who have sold a home since 1997 you know that the rules for excluding gain from home sales has improved. The general rule is that $500,000 of gain can be excluded by joint filers and $250,000 for single individuals. To qualify for the exclusion, two conditions must be met. The home must be owned and used by the taxpayers as a principal residence for two or more years during a five-year period ending on the date of sale. In addition, the taxpayer must not apply the gain exclusion to any other principal residence sale during the previous two years.

Several new IRS rulings accomodate the needs of taxpayers who sell their homes “early” because of “unforeseen circumstances.” There is a “change of employment” exception that allows taxpayers to receive a portion of the exclusion based on the number of months they lived in the house if they have to move for employment reasons. Another exception applies if the sale is motivated by circumstances that the taxpayer could not have reasonably anticipated before purchasing and moving in the residence. Some examples of qualifying events are fires, divorce or death of the taxpayer or spouse. This is just to provide an overview. The rules governing home sale gain exclusions are complicated. You should always consult a tax accountant or attorney to discuss your specific situation.
There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service. Info@CarolDochenRealtors.com

We just celebrated Earth Day.  Why not try implementing these handy water-related energy tips at home? These quick fixes take little to no time at all!

In the shower - If you have to mix your hot water with cold, your thermostat is up too high and you are wasting energy. Why heat up water just to cool it down? Simply adjust the thermostat in your water heater to your perfect temperature.

In the washing machine - Using cold water instead of warm cuts down on energy use by 90%! In fact, using cold water is often better for your clothes.
 
In the bottle - Buy a water filter and drink water from the tap in a reusable bottle — that’s where 40 percent of all bottled water comes from anyway. The average American drinks 22.6 gallons of bottled water a year. Making all that plastic releases over four pounds of carbon dioxide per person and consumes a surprising amount of petroleum (.005 barrels, or nearly a quart of oil per person).

These tips and many others can be found on Earth Share’s website.  Earth Share, a federation of America’s leading non-profit environmental and conservation charities, promotes environmental education and charitable giving in workplace employee giving campaigns. For more tips and to find out how your workplace can help the earth, visit www.earthshare.org or call 1.800.875.3863.

There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service. Info@CarolDochenRealtors.com

So many times when buying a house, people are only concerned about the price of the house, down payment, closing costs, etc.  But what happens after you own the house?  The cost of maintaining your home is something that needs to be taken into consideration when figuring your monthly bills.  A good rule of thumb is to figure the cost of ownership at 4 to 6 percent of the market value for the year.  This covers everything from property taxes, insurance, utilities, maintenance, etc.  Although it can vary a great deal depending on the region that you live in, it is a good benchmark when sitting down to figure out what your budget will look like. 

There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service Info@CarolDochenRealtors.com

Pouring chemicals down the drain, dumping them on the ground, or putting them in the trash is dangerous and harmful to the environment. The City of Austin Household Hazardous Waste Facility is open to City of Austin and Travis County residents and businesses for the purpose of safely disposing hazardous waste.

Hazardous waste includes anything that is flammable, corrosive, toxic, poisonous, reactive, or explosive and should not be put in your trash. Look for words like “Caution,” “Warning” or “Danger” on the label.

Common hazardous waste items around the house include paints and solvents, lawn care chemicals, household cleaning products and automotive products. Products such as batteries, thermometers and fluorescent lights are also hazardous.
Empty oil-based paint and solvent containers should be taken to the Household Hazardous Waste Facility. Empty latex paint containers can be treated differently. Leave the lids off the empty latex paint containers to allow any residue to dry out. Then place the empty containers and lids in your trash, not in your recycling bin. Do not put the lids back on the containers.

To dispose of containers from cleaners, pesticides and lawn care products,rinse the empty containers three times and use the rinse water like you used the product. Some empty plastic bottles can be recycled, depending on the type of plastic and the contents. Other containers should be placed in the trash. Empty aerosol cans should go in the trash.

Empty motor oil containers can be placed in the trash. The residue prevents the bottle from being recycled. Oil filters cannot be put in the trash. Please take these to the Household Hazardous Waste Facility.

Residents of Austin and Travis County may drop-off limited quantities of hazardous waste free of charge to the Household Hazardous Waste Facility located at 2514 Business Center Drive (map) Tuesdays and Wednesdays from 12 noon to 6 p.m. and the first Saturday of each month from 7 a.m. to 12 noon

The Hazardous Waste Facility does not accept:
Radioactive waste
Needles, syringes or medical waste
Ammunition
Explosive materials
Computers or other appliances
Compressed gas cylinders
Cooking oil
Any waste generated by a business

There are always lots of opportunities in the Austin housing market. We are always pleased to talk with you about selling or buying homes. We want you to buy or sell only when it is right for you. Call or email us if we may be of service. Info@CarolDochenRealtors.com