Ki operates as a realtor working in the Austin Texas real estate market. He writes a blog covering Austin real estate as well as providing a free search of the Austin MLS.
Archive for Austin
Dec
25
Investing in a Down Market
Posted by: | CommentsAustin Safe High Return Investments
All investments depend on making returns, which in turn are affected by macro cycles such as the Great Depression or the dot-com boom. When a market is receding, it makes more sense for long-term, stability-seeking investors to look elsewhere upon first glance. However, in the case of the housing market of many parts of the US, the likelihood of long-term housing depression are still relatively slim. Furthermore, other factors will continue to influence the stability of housing pricing in the short term.
Likely investors in most areas will be able to get great values for some time, but housing prices have statistically increased on a per-capita level for the vast majority of the past century. Even with the 30% decrease in home prices during the years of 1930-33, economic stimulus eventually prevailed. The Depression was also the primary topic of a young Ben Bernanke who, before his current position as head of the Federal Reserve, wrote a 350-page report on how the US’ largest recession was due to the blunders of the then newly-created institution. Bernanke has also taken more unprecedented steps to help preserve large investment banks than homeownership, citing a housing bubble which needs a necessary (though unfortunate) correction.
As foreclosure rates continue to increase, many properties are being revalued at less than the price they were purchased at. However, this is only half the story. America’s losses are oft distributed unequally. And while the Midwest generally experiencing the worst effects of past recessions, this time may be a little different. Across middle America, home prices have depressed for seven straight months, but several previously hot markets have deteriorated below pre-bubble prices. Southern California and Arizona are two examples that stand out, particularly in terms of how rapidly falling home values have affected previously booming areas.
Now consumers are hit with two difficulties which make housing slumps particularly viscous: rising mortgage payments and loss of home equity, which has restricted lines of credit for homeowners. Furthermore, the advantages of America’s size are diminished in a housing slump because homeowners are unable to migrate to other areas. Historically, there have been many such exoduses from economically depressed areas in search of higher wages, but homeowners are increasingly unable to do so unless they sell their homes at a loss.
This stagnation also means that markets with rising values will continue to attract investment, while government intervention may be necessary to lift more blighted areas. The Northwest continues to experience positive property values, despite the prospects oflooming layoffs from troubled financial firms. Texas continues to experience exceptional developmental growth, and relatively stable house prices in his area likely contributed to the Dallas Fed’s dissenting vote against the recent record Federal Funds Rate cut. In central Texas, development has continued relatively unabated, in contrast with other areas where property values have dropped more considerably. This reasoning indicates that these markets are likely to accelerate growth as the larger economy recovers from the sub-prime crisis, and will probably be more valuable in the mid-term by comparison to more depressed areas.
Either way, the US recession is not likely to remain too deep, thanks to the generous monetary policy of the Fed. Should current inflationary pressures continue their current trends, home prices will necessarily rebound, although not quickly enough to facilitate speculative short sells. Therefore, for those looking for the long haul, deals are out there.
Texas Safe High Return Investments
Dec
25
Real Estate Investment 101: Avoiding Scams
Posted by: | CommentsAustin Safe High Return Investments
“The sad reality is that there are always people out there that are looking for people they can take advantage of. In most cases, scammers will take advantage of those that are already down because those that are already on hard times tend to be more desperate. Since desperation often leads to gullibility, scammers are more than happy to prey upon them in order to make a quick buck.
Whether you are in a desperate situation or not, you are always at risk of being taken advantage of by a scammer if you do not remain continually alert. Therefore, it is best to follow these simply tips to avoid being scammed when investing in real estate.
1. Never send money to an “interested buyer.” One of the most common real estate scams is selling to a person in another country. With this scam, the scammer claims to live in another country and says he would like to buy your real estate. There is only one problem: he needs you to send some money his way to pay for travel expenses or some other expense that is standing in his way. Once you send the money to the scammer, he seemingly drops off of the face of the earth.
Remember, you should only be receiving money when you sell your real estate.
2. Never turn over mortgage documents to an “interested buyer.” Identity thieves will sometimes pose as an interested buyer and will then request to see mortgage documents. Since these documents often contain personal information such as your social security number, you are essentially handing over your identity when you hand over the papers.
Remember, you should never hand over your personal real estate documents to anyone other than a lawyer.
3. Never continue negotiations with someone that has never seen your real estate. Some scam artists will claim to be interested in purchasing your real estate without ever having seen it. This is simply a ploy to win over your trust so you can be taken advantage of later.
Remember, no honest person is going to invest a large amount of money into real estate without having seen it first.
4. Never complete a deal without the help of professionals. Even if you are dealing with a person on a face-to-face basis, you can still be taken advantage of if you are not careful. Therefore, be sure to enlist in the help of a number of different professionals when investing in real estate. Before you sign any contracts, run them past an experience real estate attorney. Enrolling in a real estate club will also put you in contact with a number of legitimate professionals that can help steer you in the right direction.
Remember, if it sounds too good to be true, it probably is. Use the help of professionals in the real estate field to make sure you are not being taken advantage of.
5. Never put your trust in a handshake. Unfortunately, a person’s word and handshake is not enough to keep you out of trouble in the world of real estate investment. Make sure to get everything that you agree upon in writing and don’t assume the other person will make good on anything that was agreed upon verbally.
There are plenty of ethical people working within the real estate investment field that will buy and sell real estate honestly and professionally. At the same time, there are some people that are just waiting to take advantage of another person’s misfortune. Be cautions and follow these few simple tips and you will not find yourself falling victim to a scam.”
Kinan Beck is the Broker and co-owner of One Source Realty in Austin Texas. Visit Kinan’s Lakeway Real Estate Guide, visit his Steiner Ranch real estate company’s website, & his Avery Ranch real estate website. He has seen considerable success in real estate, and looks forward to many more years in the business.
Texas Safe High Return Investments
Dec
19
Land and Balcones Club Apartments Sold in Austin
Posted by: | CommentsAustin Safe High Return Investments
There is news of two big purchases in Austin. The first involves the purchase of over 1.5 million acres of timberland. Temple-Inland Inc. sold the property to an affiliate of the Campbell Group. The selling price was reportedly $2.4 billion. 0.4 of the purchased acres are in Alabama, Louisiana, and Georgia, but the bulk of the purchase is located in East Texas. Temple-Inland Inc. is expected to make net cash proceeds of $1.8 billion and is expected to grant common stockholders $1.1 billion, or $10.25 per share after the purchase.
The timberland agreement includes a 12-year fiber saw timer supply agreement and a 20-year pulpwood fiber supply agreement. In addition, affiliates of The Campbell Group have promised to maintain Temple-Inland Inc.’s commitment to the environment. This likely means that the new investors will have to continue the conservation efforts started by Temple-Inland Inc. and will likely have to adhere to the same environmentally-conscious use of the land. During the deal, Temple-Inland Inc. used Goldman, Sachs & Co. and Citigroup Global Markets Inc. as financial advisors and Sutherland, Asbill & Brennan LLP as legal advisors. The Campbell Group LLC, used Morrison & Foerster LLP and Schwabe, Williamson & Wyatt as legal advisors during the deal.
In addition to the timberland purchase, another key purchase in the area occurred recently when a Los Angeles-based company, M&A Real Estate Partners, bought Balcones Club Apartments. The 312-unit Balcones Club Apartments were owned by Equity Residential Properties Trust. The new investor hopes to renovate the building, which is now 23 years old. It is possible that the new owners hope to turn this Class B apartment building into something a little more upscale. The 13 acres on 9218 Balcones Club Dr are certainly a great investment and a great place for tenants. Currently, Balcones Club Apartments features one- and two-bedroom units that span 464 to 1,150 square feet each. Rents for the units range from a very reasonable $506 to $859.
Balcones Club Apartments currently features a number of amenities that appeal to tenants. Corner fireplaces, wet bars, oak cabinets, built-in microwave ovens, window seats, vaulted ceilings and plenty of storage room are just some of the features of the residential units. In addition, the apartment complex does offer lofts and town homes as well as more traditional apartments. This pet-friendly building is close to major thoroughfares and major employers, including IBM, Lakeline Mall, 3M, TI, and State Farm. The building boasts two pools as well as well-maintained common areas. Many units features great views and there is a fitness center available for tenants as well. Students in the building attend Spicewood Elementary, Canyon Vista Middle School, and Westwood High School. It will be interesting to see in the upcoming months what sort of upgrades and renovations the new investors have planned for this residential community. The building, nestled between Highway 183 and the Balcones Country Club golf course, was 97% occupied at the time of the sale.
Kinan Beck is the Broker and co-owner of One Source Realty in Austin Texas. Visit Kinan’s Austin Apartment Guide, visit his Austin Apartment Locator company’s website, & his Austin Apartments website. He has seen considerable success in real estate, and looks forward to many more years in the business.
Texas Safe High Return Investments
Dec
17
Why Invest in Properties in Richland Chambers Lake, Corsicana Texas
Posted by: | CommentsAustin Safe High Return Investments
Richland Chambers Lake is a Y Shaped lake located within the City of Corsicana, just one hour south of the Dallas-Fort Worth Metroplex on I-45, this lake is considered one of Texas’ “Best Kept Secrets.” Built in the late 1980s, the lake is controlled by the Tarrant Regional Water District, and is fed by two creeks, both Richland and Chambers. The area around Richland Chambers Lake is booming, but still under-developed. It’s the best time ever to take advantage of this secluded Texas Lake.
. 41,356 Acres
. 330 Miles of Shoreline
. Serves as water supply for Tarrant County
. 3rd Largest Lake in Texas
. Youngest lake in Texas
. Located in Navarro County & Freestone County
Public Facilities
. Richland Chambers Public Access Facilities – TX Parks & Wildlife
. Midway Landing (Public Boat Ramp)
. Oak Cove Marina – Family owned and operated marina offering motel, RV Park and Campground.
Lake Area Restaurants
. Lighthouse Cafe & Marina
. St Elmo Corner Store
Real Estate
Unlike many Texas Lake Properties, it is possible to purchase land that reaches to the shoreline at Richland Chambers Lake. It is possible to find a beautiful home with a lake view in a country setting, as well as custom homes in new subdivisions. There are roughly 50 areas for building a home around the lake. Most of the Texas Lake Home communities have deed restrictions, home owners associations, and architectural control commitees. Very few areas allow mobile homes. You can find lots on which to build your retirement home, vacation home, or any dream home. Richland Chambers Lake Homes are typically priced from $100,000 to $800,000. At this stage, you can still find breath-taking water-front lots with lake shore vistas for under $100,000!
Richland Chambers Lake Recreational Activities
Sailing on Richland Chambers Lake
Richland Chambers Lake has deep waters that are great for sailing. Sailers enjoy the large East to West expanse on the Richland arm.
Boating on Richland Chambers Lake
Boat ramps are available for public use. Richland Chambers offers Marinas, Boat Rentals, Houseboats, Ski Boats, Pontoon Boats, Slip Rentals, Docks and Boat Ramps.
. Boater Safety – Tarrant Regional Water District
Water Sports on Richland Chambers Lake
This Texas Lake is great for water skiing, wakeboarding, tubing, jetskiing, and kneeboarding on a summer day because it’s large and not over-crowded.
Fishing
Richland Chambers Lake is an angler’s paradise with largemouth, white, and hybrid striped bass, blue & channel catfish, crappie, small mouth buffalo, and carp. Bass fishing tournaments are held regularly.”Richland-Chambers has one of the best blue catfish populations in the entire state of Texas” (Richard Ott, biologist – Texas Parks and Wildlife).
. Fishing Richland Chambers Lake – Texas Parks & Wildlife
. Fishing License Information – TX Parks & Wildlife
. Fishing Report for Richland Chambers Lake – July 2007
. Stocking History – July 2007
. Fishing Regulations – TX Parks & Wildlife
. Schmidt’s Big Bass Guide Service – Full day and half day bass fishing guides offering lunch and refreshments for your bass fishing enjoyment.
. Texas Guide Fishing
. Wooded Acres Bait Shop
. Current Water Data
. Outdoor Articles by Fishing Pro Staff – Richland Chambers Lake
Waterfowl Hunting – Richland Chambers Lake
Richland Chambers Lake has a special area that serves as a forbidden zone dedicated to waterfowl hunting. Since the lake is located near the Trinity River, it is a natural flyway for waterfowl, offering plenty of ducks & geese for hunters.
. Hunting & Fishing Requirements – TX Parks & Wildlife
. Hunting License & Permits – TX Parks & Wildlife
. Upland Bird Ventures – Offers lodge and hunting packages.
Cities Near Richland Chambers Lake
. Athens
. Cayuga
. Corsicana
. Eureka
. Fairfield
. Kerens
. Mildred
. Powell
. Streetman
Lakes Near Richland Chambers Lake
. Cedar Creek Lake
. Joe Pool Lake
. Lake Halbert
. Navarro Mills Lake
Seomul Evans is a SEO consultant for leading Real Estate Websites designer and Corsicana Real Estate Texas agent.
Texas Safe High Return Investments
Dec
12
New Homes for Sale in Austin Texas
Posted by: | CommentsAustin Safe High Return Investments
Austin is a growing and vibrant city offers plenty of investment opportunities for business and employment. The real estate market is very happening and is one of the few states that maintained quit well through the current mortgage crisis. Buyers in Texas can be sure that their home investments will rise in value in the years to come, as this city is looking towards more growth and development.
There are varied types of homes for sale in Austin. These include condominiums, custom homes, and single family homes. Each home type is intended to serve the liking of a particular type of buyer. For example, young people may prefer to buy a loft or a condominium unit, while those with large family would like to take a larger custom or single family home.
The latest constructions are built to cater to the requirements of modern day living and they come with new amenities, fixtures and facilities, to offer more conveniences and comforts for residents. It’s not surprising to find that new homes get booked easily and are sold out as soon as they are built. Many of them are built strategically close to important resident requirements such as transportation, schools, shopping plazas and so on. This makes them all the more attractive for purchase and highly comfortable for the buyer.
Price ranges on homes offered in this city are very attractive and buyers can be sure to get a reasonably priced spacious home. Specific neighborhoods will have a certain type of home so buyers should first decide on the kind of property they want to see and the price range that is suitable for them before going about their search. Doing this will certainly make their search process easier.
Realtors and real estate agent services facilitate home searches. In seeking such services, it’s important to take up reputable ones, so that the entire process of buying a home goes through correctly and without any issues. Similarly, in case of buyers taking up homes through a home mortgage process, they should be certain on their ability to repay the mortgage payment every month as failure to do so will result in a foreclosure.
Search Austin real estate, Austin home builders and new homes in Texas today!
Texas Safe High Return Investments