Most of you have read and heard information that the residential real estate market has recently taken a precarious turn downward.
I believe that most of the hesitation we are seeing in the market is a result of the barrage of headlines about the national real estate market and the fall-out from the sub-prime lending market. While these events may marginally affect Austin, the bottomline is that its still a great time to buy real estate in Austin Texas.
Austin is:
· Is ranked by Business Week as having the most affordable housing of any metro area in the nation
· Is in the top 10 markets nationally for job growth and actually has the healthiest job market in the last 6 years
· Has a foreclosure rate that has actually fallen since last year
· Is expected to double in population in the next 20 years
· Has never seen the dramatic rise in prices that has troubled many markets around the country
· Is absolutely the coolest place to live in the country
· Has absolutely NO fundamental problems in the real estate market
· Has a great selection of homes to choose from, making this a great time to buy-it's like having a clearance sale!
If you or someone you know is in the market to buy or sell a house, please call Lori Wakefield at 512.657.4455 - I look forward to hearing from you!
Monday, October 1, 2007
TOP STORY: Gary Keller: The only market that matters is yours!
Last week on the Today Show, during a segment on the national real estate market, CNBC’s Jim Kramer uncompromisingly stated, “now is the absolute worst time to buy!”
Concerned that remarks such as these from so-called experts might be pushing potential buyers to the sidelines?
Here’s what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current market:
First, residential real estate is not a national market product — it is a local one. To say from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees — it is a useless and irrelevant perspective. What is happening in your local market is all that matters.
Second, trying to predict when it is a good time to buy, or not, means you’re trying to time the market. Staying on the sidelines is the surest way for most people to never time anything correctly.
Last, and maybe most important — there are always two markets in every market. There is the market of properties that are good buys and there is the market of properties that are not a good buys. Interestingly enough, this is true in either buyer or seller markets. To categorically say that this is the time to buy or not is absolutely ignoring the fact that every market really has two markets inside it.
Concerned that remarks such as these from so-called experts might be pushing potential buyers to the sidelines?
Here’s what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current market:
First, residential real estate is not a national market product — it is a local one. To say from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees — it is a useless and irrelevant perspective. What is happening in your local market is all that matters.
Second, trying to predict when it is a good time to buy, or not, means you’re trying to time the market. Staying on the sidelines is the surest way for most people to never time anything correctly.
Last, and maybe most important — there are always two markets in every market. There is the market of properties that are good buys and there is the market of properties that are not a good buys. Interestingly enough, this is true in either buyer or seller markets. To categorically say that this is the time to buy or not is absolutely ignoring the fact that every market really has two markets inside it.
Wednesday, August 29, 2007
Recycling
Did you know...
Recycling Aluminum saves 95% of energy vs. virgin aluminum and reduces pollution by 95%; recycling of one aluminum can saves enough energy to run a TV for 3 hours (Reynolds Metal Company).
Recycling Glass save 50% of energy to produce vs. virgin galss (Center for Ecological Technology). It reduces air pollution by 20% and water pollutions by 50% (NASA). Recycling of one glass bottle saves enough energy to light a 100-watt bulb for 4 hours (EPA).
Recycling Paper save 60% energy vs. virgin paper (Center for Ecological Technology). It generages 95% less air pollution: each ton saves 60lbs. of air pollution (Center for Ecological Tecnology). Recycling of each ton of paper saves 17 trees and 7000 gallons of water (EPA).
Recycling Plastic save twice as much energy as buring it in an incinerator. It takes 70% less energy to recycle plastic than it does to make it from raw materials. If we recycled every plastic bottle we used, we would keep 2 billion tons of plastic out of landfills (Penn State).
Recycling Aluminum saves 95% of energy vs. virgin aluminum and reduces pollution by 95%; recycling of one aluminum can saves enough energy to run a TV for 3 hours (Reynolds Metal Company).
Recycling Glass save 50% of energy to produce vs. virgin galss (Center for Ecological Technology). It reduces air pollution by 20% and water pollutions by 50% (NASA). Recycling of one glass bottle saves enough energy to light a 100-watt bulb for 4 hours (EPA).
Recycling Paper save 60% energy vs. virgin paper (Center for Ecological Technology). It generages 95% less air pollution: each ton saves 60lbs. of air pollution (Center for Ecological Tecnology). Recycling of each ton of paper saves 17 trees and 7000 gallons of water (EPA).
Recycling Plastic save twice as much energy as buring it in an incinerator. It takes 70% less energy to recycle plastic than it does to make it from raw materials. If we recycled every plastic bottle we used, we would keep 2 billion tons of plastic out of landfills (Penn State).
Tuesday, August 28, 2007
Think Green
Today more than ever we face the ever growing demand for energy and energy conservation. Recycling is an easy way everyone can contribute to conserve energy and more importantly, ensure a green tomorrow for future generations. Below are useful links to recycling and recycling centers in our community:
www.ci.austin.tx.us/sws
www.cityoflakeway.com/citydepts_trash.asp?Viewitem=3
www.cohays.tx.us/departments/recycle/pdf/info.pdf
www.ci.austin.tx.us/sws
www.cityoflakeway.com/citydepts_trash.asp?Viewitem=3
www.cohays.tx.us/departments/recycle/pdf/info.pdf
Sunday, August 26, 2007
Bee Cave Update 08-26-07
Message From Mike Murphy
Bee Cave City Council; Bee Cave Economic Development Board VP
Uplands & Falconhead Neighbors, 8/26/2007
1) TxDoT finally finished the traffic lights on the bypass road linking Bee Caves Rd to RR 620. At a little before 3 p.m. on Friday, the road was opened to traffic. Only NINE months behind schedule. Now, if we can get TxDoT to complete the Hwy 71 improvements before the Galleria opens on October 26th, it will only be NINE months late. Both projects are financed by Opus West, the Galleria prime contractor, at no expense to Bee Cave or TxDoT as part of the overall development agreement for the Galleria project. Go see the road for yourselves. It starts on Bee Caves at the Goodyear Tire Dealer and intersects RR620 near Target. Looks like a good Uplands to High School/Middle School route, and a must for everyone in Falconhead who needs to get to Bee Caves Road or back.
2) Despite the best efforts of the City, The Mayor (Caroline Murphy), Our Uplands HOA President (Stephen England), The Falconhead HOA President (Robert Dorsett), the two Lake Pointe MUD Presidents, State Senator Kirk Watson, and others, the LCRA Board unanimously approved a three-stage, 70% water rate increase. The increases will occur in steps on October 1st of 07, 08 & 09. Combined with the increases imposed in 2002, your water bill will be 70% higher than today and about 150% higher than in 2002. Bee Cave will appeal the rate increase to the Texas Commission on Environmental Quality (TCEQ) that oversees LCRA rates. I do not expect this effort to grant us rate relief. I guess it may be time to redesign my landscaping or drill a well.
3) You may have seen the Austin American Statesman article on the delayed opening of the Galleria two seeks ago. The author opined how Bee Cave would have to wait longer to see a return on its investment in the project. Bee Cave fronted $0 for the project, but we have already received the Galleria Parkway ($6M?), the funding of the Hwy 71 widening ($7+M), 50 acres for our park off RR 620 (value ?), $2.5M in cash, and $3.5M to be paid toward the new City Hall construction. It is the developer, not Bee Cave, who waits as we only rebate a percentage of the sales tax the project actually generates.
4) Design plans for the Bee Cave Central Park are nearing completion. Construction should begin next year. Located between Target and McCoys behind the frontage businesses on RR620.
5) Hamilton Pool Road extension. We are working on obtaining right-of-way agreements with various land owners to bring Hamilton Pool Road from Highway 71 up to the RR 620 / Galleria Parkway intersection. This project will be financed by the Bee Cave Economic Develpopment Board using the 1/4 cent sales tax designated for such development projects. The east end of the project connecting to the Galleria Parkway will also provide the main entrance to the Central Park. The road will provide a second access to the LaDera Ranch project to be built south of Falconhead and behind the Home Depot tract. It is possible this road will be built in phases. Phase 1 would be the east end to give access to the Park as the city owns the land required on that end.
6) Land prices in Bee Cave are staggering. Frontage on RR 620 tops $400K per acre. The high cost of buildable land in Bee Cave is driving the desire by developers to build more dense, condo/apartment projects rather than single family homes. The Galleria is pulling in virtually all the new retail activity in the area and is stopping other retail projects from proceeding.
Mike Murphy (Captmurf@aol.com)
Bee Cave City Council; Bee Cave Economic Development Board VP
Bee Cave City Council; Bee Cave Economic Development Board VP
Uplands & Falconhead Neighbors, 8/26/2007
1) TxDoT finally finished the traffic lights on the bypass road linking Bee Caves Rd to RR 620. At a little before 3 p.m. on Friday, the road was opened to traffic. Only NINE months behind schedule. Now, if we can get TxDoT to complete the Hwy 71 improvements before the Galleria opens on October 26th, it will only be NINE months late. Both projects are financed by Opus West, the Galleria prime contractor, at no expense to Bee Cave or TxDoT as part of the overall development agreement for the Galleria project. Go see the road for yourselves. It starts on Bee Caves at the Goodyear Tire Dealer and intersects RR620 near Target. Looks like a good Uplands to High School/Middle School route, and a must for everyone in Falconhead who needs to get to Bee Caves Road or back.
2) Despite the best efforts of the City, The Mayor (Caroline Murphy), Our Uplands HOA President (Stephen England), The Falconhead HOA President (Robert Dorsett), the two Lake Pointe MUD Presidents, State Senator Kirk Watson, and others, the LCRA Board unanimously approved a three-stage, 70% water rate increase. The increases will occur in steps on October 1st of 07, 08 & 09. Combined with the increases imposed in 2002, your water bill will be 70% higher than today and about 150% higher than in 2002. Bee Cave will appeal the rate increase to the Texas Commission on Environmental Quality (TCEQ) that oversees LCRA rates. I do not expect this effort to grant us rate relief. I guess it may be time to redesign my landscaping or drill a well.
3) You may have seen the Austin American Statesman article on the delayed opening of the Galleria two seeks ago. The author opined how Bee Cave would have to wait longer to see a return on its investment in the project. Bee Cave fronted $0 for the project, but we have already received the Galleria Parkway ($6M?), the funding of the Hwy 71 widening ($7+M), 50 acres for our park off RR 620 (value ?), $2.5M in cash, and $3.5M to be paid toward the new City Hall construction. It is the developer, not Bee Cave, who waits as we only rebate a percentage of the sales tax the project actually generates.
4) Design plans for the Bee Cave Central Park are nearing completion. Construction should begin next year. Located between Target and McCoys behind the frontage businesses on RR620.
5) Hamilton Pool Road extension. We are working on obtaining right-of-way agreements with various land owners to bring Hamilton Pool Road from Highway 71 up to the RR 620 / Galleria Parkway intersection. This project will be financed by the Bee Cave Economic Develpopment Board using the 1/4 cent sales tax designated for such development projects. The east end of the project connecting to the Galleria Parkway will also provide the main entrance to the Central Park. The road will provide a second access to the LaDera Ranch project to be built south of Falconhead and behind the Home Depot tract. It is possible this road will be built in phases. Phase 1 would be the east end to give access to the Park as the city owns the land required on that end.
6) Land prices in Bee Cave are staggering. Frontage on RR 620 tops $400K per acre. The high cost of buildable land in Bee Cave is driving the desire by developers to build more dense, condo/apartment projects rather than single family homes. The Galleria is pulling in virtually all the new retail activity in the area and is stopping other retail projects from proceeding.
Mike Murphy (Captmurf@aol.com)
Bee Cave City Council; Bee Cave Economic Development Board VP
Welcome!
Hello All,
Welcome to my website and to my first Real Estate Blog. The goal of my blog is to give you useful information about Austin and our Real Estate Market. Check back often for new information and remember that I'd love to hear from you so post your comments!
Lori
Welcome to my website and to my first Real Estate Blog. The goal of my blog is to give you useful information about Austin and our Real Estate Market. Check back often for new information and remember that I'd love to hear from you so post your comments!
Lori
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