Texas is looking good according to all reports and Austin is topping that list.  As far as job reports go, Austin is one hot metro area.  A release of data from the Texas Workforce Commission and the US Department of Labor Statistics shows that Austin created the most jobs in May, year over year, with an increase of .5%.  When examining the top 50 metropolitan areas of the United States, Austin Texas is ranked number one for job creation, for non-farm jobs, and is the overall best performing city.

The recession has taken its toll and the road to recovery is a slow one but Austin’s performance is being noticed and noted.  The capital city has been attracting technology jobs, as well as those in the health, education and government sectors.

Contact me today for information on relocating to Austin Texas and learning more about the opportunities that exist here.

Click here to read a recent article regarding the Central Texas economy.

Contact Todd Smith today for up to date information about Austin Texas real estate as well as free access to the Austin Texas MLS and all properties currently for sale in the Austin area.

Home prices are up in Austin Texas.  The real estate tracking website, Trulia.com, shows an increase of over 11% per square foot for property in Austin Texas.  The data is for the three week period from May 26 through June 16 and is compared with the same time period of a year ago.

One of the biggest movers in the Austin real estate market is The Canyon – The Preserve where the average listing price is up over 55% compared with a year ago. The Canyon – The Preserve is a desirable area of Austin and currently has only one house on the market, at a list price of $1,820,350. 

Austin is consistently ranking high as a top notch US city in which to live.  The economy, real estate market and overall industry are experiencing growth and are enhanced by a Austin’s quality of life.  Contact me today for a list of all available Austin luxury real estate.

Contact Todd Smith today for up to date information about Austin Texas real estate as well as free access to the Austin Texas MLS and all properties currently for sale in the Austin area.

Great tips when considering an addition to your home.

This recent article by Paul Bianchina offers seven great tips for people considering an addition to a home. With an eye on how “aesthetics, access, and open space affect resale,” this is a great article. And who knows, if it sparks a conversation about trading up rather than adding on, I’d love to chat!

Be sure to check out the article to learn more about Paul’s thinking on these seven rules:

1. Know why you’re adding on.
2. Good additions never look like additions.
3. Out, up, down or a combination.
4. Don’t let the interior become an afterthought.
5. Create convenient access.
6. Don’t overwhelm your lot.
7. Understand the legalities.

Read the entire article, “7 Rules For Room Additions” on Yahoo! Real Estate:
http://realestate.yahoo.com/info/experts/7-rules-for-room-additions

The sales of luxury homes in Austin Texas have seen an increase in volume this year.  As incentives pushed sales for first time home buyers, many home owners who were able to sell their Austin homes were able to make a move up to larger homes.

The low interest rates aren’t hurting Austin luxury real estate either.  The more expensive the home, the more money is saved over the lifetime of a loan when rates are at historic lows, as they are now.  People are feeling more confident in the Austin real estate market and are back looking at luxury properties.  Luxury homes in Austin are seen as homes that are valued at $1,000,000 or more.

If you are interested in looking at luxury real estate in Austin Texas please give me a call today.  I can help educate you on what is going on, what is selling and give you access to all homes currently on the market in Austin.

Click here to read a recent article from Impact News regarding luxury real estate sales in Austin Texas.

Contact Todd Smith today for up to date information about Austin Texas real estate as well as free access to the Austin Texas MLS and all properties currently for sale in the Austin area.

While the danger of lead has long been known it is now making the renovation process of homes in Austin Texas much more expensive.  Legislation has been passed by the EPA that involves rules for how contractors and renovation professionals have to deal with lead paint during a project.

The new rules involve homes built before 1978, where lead exists or may exist.  Contractors now have to be, or become, EPA certified.  In addition, lead-safe work practices (LSWP) must be adhered to and the proper disclosures must be presented to homeowners prior to commencing work.  Austin Texas homeowners have no choice but to adhere to these practices as well and must hire contractors that meet the EPA’s criteria.

If you own an older home in Austin Texas the paint on the trim and the walls could contain lead.  Even if you have painted your home since you bought it, lead could exist in the original layers.  Wondering if your Austin home has lead in it?

• 85% of all homes built before 1940 have lead based paint.
• 66% of homes built between 1940 and 1959 have lead based paint.
• 25% of homes built between 1960 and 1977 have lead based paint.

Current homeowners and potential home buyers in the Austin Texas area should be aware of whether lead paint exists and acknowledge the added expense that lead will add to the remodeling process.

Click here to learn more about the specifics of the new lead paint rules.

Contact Todd Smith today for up to date information about Austin Texas real estate as well as free access to the Austin Texas MLS and all properties currently for sale in the Austin area.

There is a distinct possibility that Austin real estate will get a boost from the state of Texas.  The home buyer tax credit has expired, a program designed to spur real estate sales nationwide, and the state of Texas has stepped in to help keep real estate sales on the upswing.

The Texas Department of Housing and Community Affairs has created a new program, titled Bond 77, that is making $500 million available for mortgage help.   For those looking to buy Austin real estate the money can be used two ways, as down payment assistance or for acquiring a lower interest rate.

Historically low interest rates, low home values, and now the financial help available from the state of Texas, combine to make it an ideal time to look at homes for sale in Austin.

Click here to learn more about Bond 77.

Contact Todd Smith today for up to date information about Austin Texas real estate as well as free access to the Austin Texas MLS and all properties currently for sale in the Austin area.

Congratulations to all the graduates!

There was a great article recently on The Columbus (Ohio) Dispatch’s website about an 18-year-old named Lindsay Binegar who pulled the trigger on a purchase many people older than her can’t manage.

She bought a house. And paid cash. The lessons from her story are priceless.

I can’t do the article justice, so I recommend reading it when you get a chance, but the gist of it is that Lindsay started earning money for showing pigs beginning when she was 4 years old. She saved and saved her money, planning on using it for college.

When she started looking at schools, however, her parents offered to pay for college if she stayed near home. So she had her college fund now available to invest. Her father, who runs an auction house, suggested she buy a house at auction.

She paid $40,000 cash for a house, according to the Dispatch article. She spent a little more on new paint and carpet and rented it out to an aunt and uncle.

The first big lesson Lindsay showed is that frugality pays off. How many adults would like to be able to save $40,000 in 14 years? The power of compounding interest – earning interest on your interest – over the years, along with Lindsay’s resisting temptation to spend the money, gave her quite a bit to invest.

Which brings us to the second lesson: Once college was paid for, she didn’t take the money out to buy a new car or a new wardrobe, she invested it. Turning it into a rental property and assuming, conservatively, that she can earn $8,000 a year in cash flow (after taxes and maintenance), she could have her original investment back in just five years.

The last big thing to take away from the story is the fact she took advantage of today’s market, buying a house at auction at a low price and only having to add paint and carpet. Paying cash removes any debt obligation. There are plenty of deals to be had in today’s real estate climate, and she found one PLUS bought it the most ideal way.

If you think about it, this is the way our parents and grandparents became homeowners – they saved and saved and didn’t get in over their heads when they purchased a home. It was the smart, responsible way to own a home.

There’s plenty we can learn from the teenager who did the same thing.

To all the teenagers out there graduating from their respective schools, including my youngest son Wyatt who is graduating from high school, I hope you will glean inspiration from this tale and nurture it for your own measure of success!

Come and enjoy the premier residences of Spring Condominiums located in downtown Austin.  Incredible, dramatic views of the city skyline and Lady Bird Lake are right outside every window.  And these windows are HUGE, floor to ceiling wall to wall glass in select units.   Residences enjoy controlled access to each floor, operable windows, gas cooking, an eco-duct vent system, gorgeous granite countertops, hard wood flooring, nightly trash pick up.  This is downtown city living at its very best.

There are a maximum of eight units per floor for increased privacy.  There is a relaxing rooftop swimming pool, a residents’ lounge, additional guest suites and a private dinning room and kitchen for large groups or family gatherings.

Located in the center of the downtown scene, this eclectic, vibrant area is home to musicians, writers, filmmakers, tech pioneers and more.  Surrounded by an array of delicious restaurants, cafes, shops, entertainment options and much more.  Come and see all that Spring Condominiums has to offer.

Use the Todd Smith Featured Property Search to find more condominiums, lofts and apartments in downtown Austin.

Keep your Austin home SAFE this summer!

With summer approaching, many of you may be considering family vacations. You know who else is looking forward to their summer vacation? Neighborhood thieves!

Here are a couple of useful articles on how burglars determine if a home is a good topic. From Reader’s Digest, these two articles are great conversation starters:

13 Things a Burglar Won’t Tell You
http://www.rd.com/your-america-inspiring-people-and-stories/13-things-a-burglar-wont-tell-you/article156709.html

8 More Things a Burglar Won’t Tell You
http://www.rd.com/living-healthy/article-8-more-things-a-burglar-wont-tell-you/article156681.html

Also, you might be interested to share this ingenious little device which simulates the look of someone watching television at night. The “FakeTV” creates the exact same sort of random illumination that a 27-inch television does, at a fraction of the electricity usage:

http://www.faketv.com/

For $29.95, its a great way to deter a casual thief! (Editor’s note: We were not paid or compensated in any way to mention the FakeTV device; we simply thought it might be interesting to our community members.)

Mortgage lender Fannie Mae has released its annual National Housing Survey, which contains some interesting insight regarding Americans’ views of home ownership. If you want to check out what others look for in homes, and get an idea of what’s important to most home owners and renters, you can check out Fannie Mae’s survey fact sheet here.

Despite the negativity surrounding real estate, a recent survey found that 65 percent – nearly two-thirds – of Americans still see the value in owning a home. The survey was conducted by mortgage lender Fannie Mae and consisted of both homeowners and renters. Both groups indicated the majority sentiment was that owning a home was what they preferred, although they seem to be more careful about the commitment of home ownership, now that property values have fallen in many markets.

“Consumers are still committed to owning a home, but are showing increased cautiousness, regardless of whether they rent, own their homes outright or have a mortgage,” said Doug Duncan, Vice President and Chief Economist of Fannie Mae, in a news release.

The survey indicates that respondents view homeownership as a longer-term option, rather than the “flipping” mindset that seemed to prevail when the market was booming. Things such as personal safety and school districts are important to most home-buyers, according to the Fannie Mae survey.

Despite some of the uncertainty in some markets – and the negative reports in the media – 7 out of 10 respondents believe a home is one of the safest investments you can make.  Also, 64 percent of those surveyed believe now is a good time to buy a house, and 73 percent predict that home prices will rise or stay the same over the next year.