Austin Real Estate Blog

When you purchase a home, your Realtor will likely use a number of terms that you are not entirely familiar with.  While your Realtor should be happy to explain these terms to you, it helps if you have a good idea of what they mean before you start the home buying process.  Here are just a few terms you should know!

•    Certificate of title – A document demonstrating legal proof of ownership
•    Chattels – Personal property, of which there are two types.  The first type are real chattels, which are fixtures and buildings.  The other type are personal chattels, which are furniture, clothes, and other similar items.
•    Contract of sale – A written agreement that establishes the terms and conditions associated with the sell of property.
•    Covenant – The…

According to the most recent Beige Book survey to be released by the Federal Reserve Bank of Dallas, economic conditions in the state of Texas are showing signs of improvement. In fact, the report found that economic conditions through November had "firmed" and that a number of industries are showing signs of improvement.

The Beige Book survey, which is conducted on a periodic basis and evaluates the economic conditions of the Federal 11th district that includes Central Texas, found that the paper, high-tech manufacturing, housing, staffing, energy and petrochemicals industries are all showing signs of improvement. Furthermore, the Dallas Fed's Index of Leading Indicators is also showing that an economic recovery is starting to develop in Texas.

"The only

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 A recent report released by RealtyTrac Inc, which is a foreclosure seller based in Irvine, California, has found that the national foreclosure rate has gone down by 8% in November when compared to the previous month. On the other hand, the housing market still has a long way to go before it can be considered recovered, as the foreclosure rate is still a disheartening 18% higher than it was just one year ago.

According to the report, which was released in November of 2009, there have been 306,627 foreclosure filings this year. This includes scheduled foreclosure auctions as well as bank repossessions and default notices. More specifically:

•    Default notices were down 8% when compared to the previous month, but up 22% when compared to November of 2008

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Cantera Real Estate Team member James Brinkman is an active member of North Hills Community Church and has traveled to Haiti on missionary trips in the past year. He has been planning a return trip to the country and was set to leave again next week. James was interviewed on KEYE-CBS News today about the situation in Haiti.

Here is a link to the video and text: http://weareaustin.com/content/news/story/?cid=45691

And you can donate here: http://www.rminet.org/

Text from the Keye news story:

Central Texans want to get involved to help Haitians affected by the massive earthquake that struck the country Tuesday.

"We do various projects there," said James Brinkman, a member of North Hills Community Church in Northwest Austin, speaking of his

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Austin and Central Texas are at the top of many lists in terms of educational attainment, quality of life, low crime rates, economic growth potential and many other areas. Here's a look at a few of the honors that Austin and the Central Texas area have received over the past year:

• Austin was ranked number one by the Milken Institute for creating jobs, with the Killeen-Temple-Fort Hood MSA ranking second.
• Austin was ranked #2 out of 100 metro areas for employment potential and for having the highest metropolitan growth potential (MGP) by Business Week and The Brookings Institute.
• Austin was ranked #9 by CNN-Money as being one of the best places to start a business
• Portfolio.com ranked Austin as #1 out of the 100 largest cities for job creation

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A study conducted by Farmers Insurance Group of Companies mirrored the results of a recent FBI report, which listed the city of Round Rock as one of the safest places to live in the United States. According to the Farmers Insurance Group of Companies report, which looked at 379 large metropolitan areas with a population of 500,000 or more, the Austin-Round Rock area is listed as number one among the Most Secure U.S. Places to Live.

A number of different factors were considered when conducting this study, including all of the following:

•    Extreme weather conditions
•    Crime statistics
•    Housing depreciation
•    Risk of natural disasters
•    Air quality
•    Foreclosure
•    Environmental hazards
•    Terrorist threats
•    Job loss
•    Life expectancy.

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The financial experts at Freddie Mac have reported that mortgage rates have moved higher for the second week in a row. According to the report, a 30-year fixed-rate mortgage loan averaged a rate of 4.94% during the week ending on December 14, which is up from the previous week's 4.81%. This figure is still down when compared to the rate from one year ago, however, which averaged 5.19% at the time. When it comes to one-year, adjustable-rate mortgages, the rates increased to 4.34% for the week ending on December 14, which is an increase from the 4.24% rate from the previous week.

Although homebuyers certainly don't want to see the mortgage rate go up, the fact that the rates are increasing is a sign that the economy is moving in a positive direction. At the…

This lovely home has the views you have been looking for! This is a very large one story in Northwest Hills (4500+ sf). All the bedrooms are oversized, and it has lots of storage space. The home has been very well maintained and cared for. There is a large deck on the back with an enclosed sunroom. Located at 6406 Mesa Drive - Sellers are MOTIVATED!

Asking $725,000 - Call Crystal Guthrie at 512-422-3452 to schedule a showing!

Asking $725,000 - Call Crystal Guthrie at 512-422-3452 to schedule a showing! 

Modern & Sophisticated Travis Heights urban detached condo Home on Big Stacy Park! This new construction home has 250sf of covered patio in back, plus a 200sf balcony w/ tigerwood decking & gas grill connection!  Fantastic penthouse-style floor plan with Living/Kitchen/Dining/Master upstairs - office & guest suite downstairs. The home was also designed so that an elevator can be added if you desire.  The property has dramatic, oversized windows, elegant stained-concrete, indoor rock garden & fountain, strand-woven bamboo floors, high-end fixtures & hardware, and exposed grain custom bamboo cabinets in kitchen & baths.

Only $549,000 - Call Jim Olenbush for a showing 512-825-5712!

 Only $549,000 - Call Jim Olenbush for a showing

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The Wall Street Journal recently conducted a poll to find out where young people are the most likely to go once the economic recovery takes place - and Austin managed to land in the number five position.

To determine its rankings, the Journal called upon the expertise of a wide range of professionals, including economists and demographers. The experts were asked to determine which areas would be the most attractive to young professionals based on a number of factors. While Austin faired well in terms of unemployment as well as its median household income, the capital city didn't compare quite as well as the other cities on the top ten list when it came to education. In fact, only 41.8% of Austin's residents between the ages of 25 and 35 hold a bachelor's…