Filed under: Austin News and Events, Austin Texas, Austin Texas Real Estate, Texas, Things to do in Austin, Visit Austin | Tags: austin activities, Austin events, christmas events in austin, christmas in austin, Things to do in Austin
Come enjoy Christmas in Austin throughout the month of December. Some of the Christmas events happening in Austin this month include:
December 8: Austin Symphony Presents Handel’s Messiah
8pm, Riverbend Centre (4214 Capital of Texas Hwy). For more info, please call 512-476-6064.
December 10: CPC Thursday Noon Concert – Singers of CPC Choir
12-12:45pm, 200 East Eighth Street. The concert is free. For more info, please call Kathi Thomas at 512-472-2445.
December 10: Caroling at Noon Concert Series – The St. David’s Men’s Ensemble
12pm, with lunch following at Cafe Divine at 12:30pm, St. David’s Episcopal Church (301 East 18th St.). The concert is free to the public. For more info, please call 610-3500.
December 11-13, 18-23: The 47th Annual Production of the Nutcracker
December 11, 12, 18, 19, 21, 22 shows start at 7:30pm, December 13, 19, 20 and 23 shows start at 2pm at the Long Center (701 W Riverside Dr.). For more info, please call 512-476-2163.
December 17: CPC Thursday Noon Concert – Pinnacle of Brass
12-12:45pm, 200 East Eighth Street. For more info, please call Kathi Thomas at 512-472-2445.
December 17: Caroling at Noon Concert Series – Music for Harp and Organ
12pm, with lunch following at Cafe Divine at 12:30pm, St. David’s Episcopal Church (301 East 18th St.). For more info, please call 610-3500.
This is just the beginning of the Christmas fun in Austin throughout December. To find out more about what’s going on, please visit the Downtown Austin website. Remember to contact me for help with all your Austin real estate needs.
Filed under: Austin Texas Real Estate, Real Estate News, Real Estate Tips and Advice, Uncategorized | Tags: first time home buyers tax credit, tax credit extension, existing homeowners tax credit, tax credit limits, tax credit expiration
The First Time Home Buyers Tax Credit has been extended and expanded. Previously, the First Time Home Buyers Tax Credit was only available for first time home buyers (those buyers who had not owned a home in the three years previous to the current purchase) and was only available on homes that closed escrow before December 1, 2009. However, President Obama signed an extension on this deadline to apply to any homes purchased from November 6, 2009 to May 1, 2010 and allowed all homes that have a binding sales contract signed by April 30, 2010 to qualify for the up to $8000 tax credit (based on purchase price of home), not just those homes that closed escrow. In addition to the extension, existing homeowners may be eligible for up to a $6500 tax credit providing that they have used their current home as their primary residence for at least five consecutive years of the last eight years, meet the income requirements and are purchasing a new primary residence. Vacation homes and income properties don’t apply.
Requirements and Limits:
- First time homebuyers who haven’t owned a primary residence in the last three years. Existing homeowners who have used their current home as their primary residence for at least five consecutive years of the last eight years.
- For single or head-of-household tax filers, the limit for their modified adjusted gross income is less than $125,000. For married couples who file a joint return, the limit is less than $225,000.
- For consideration of partial tax credit, single or head-of-household tax filers can earn between $125,000-$145,000. Married couples filing jointly who make between $225,000-$245,000 may also be eligible for a partial tax credit.
- Purchase price of home must be less than $800,000 to qualify and must be the home buyer’s primary residence.
- Tax credit is considered refundable, meaning that if you owe less than the credit amount you qualify for, you will receive a tax refund for the difference of what you owe and the tax credit you are eligible for. For example, if you are eligible for the full $8000 refund and you owe $5000 in taxes, you will receive a refund check for $3000 ($8000 tax credit minus the $5000 you owe).
- You must make the home you purchased your primary residence for three consecutive years to keep the entire tax credit. If you sell the property or stop using it as your primary residence within three years of purchase, you will have to repay the tax credit back to the government.
Remember that the amount of tax credit you are eligible for depends on the purchase price of the home. So, the tax credit you actually receive may be less than the limit. Also, the tax credit is only available on homes used for the home buyers’ primary residence, not to any income or vacation property. If you have any questions about the limits and requirements for the tax credit, please contact me. I’ll be able to help you with all your Austin real estate needs.
Filed under: Austin Texas, Austin Texas Real Estate, Real Estate News, Real Estate Tips and Advice, Uncategorized | Tags: 8000 tax credit, 8000 tax credit info, Austin homes for sale, Austin real estate, first time home buyers tax credit, tax credit expiring
Austin buyers have approximately 30 days left to take advantage of the one time $8,000 First-Time Home Buyers Tax Credit. For buyers who will be applying for a loan to puchase a home, the window of opportunity is closing fast. While the tax credit does not officially end until November 30, this leaves only about 30 days to locate a home, open escrow and get loan approval. If there is any delay, you not be able to claim the tax credit.
- Your escrow must close by the end of the business day on November 30!
Anyone who has not owned a home within the past three years may qualify for the tax credit, depending on their income. The income limit for those filing single is $75,000. The income limit for those filing jointly is $150,000. There is a phase-out program for those exceeding the limit. Before counting yourself out, be sure to talk with your tax professional. After adjustments, you could still qualify for a partial tax credit.
The attractive $8,000 First-Time Home Buyers tax credit is not an automatic $8000 tax credit. The limit is $8,000. The actual tax credit you will receive will be 10% of the sales price of the home you purchase.
A tax credit is free money! This is not a tax deduction, but an actual dollar for dollar reduction in the taxes you will owe for 2009. In some cases, the tax credit can be applied to your 2008 taxes.
The tax credit applies only if the home you purchase is your principal residence. The tax credit does not have to be repaid, ever, as long as you live in the property for the first three consecutive years.
It is not often the government is willing to give you money. Don’t let the opportunity pass you by. There is no extention available! Contact me now to help get you into a home before the tax credit expires.
Shay Hargus, Realtor®/Broker for all your Austin real estate needs
Filed under: Austin Texas, Austin Texas Real Estate, Real Estate News, Real Estate Tips and Advice, Uncategorized | Tags: Austin, Austin home inventory, Austin home values, Austin homes, Austin homes for sale, Austin real estate
Austin home sales continue their upward trend. The number of homes sold has increased steadily each month since the beginning of the year. We are still below the numbers sold in 2008, but, like the rest of the nation, the Austin real estate market seems to be on the rebound.
The Austin market has been sluggish. However, home prices have held fairly steady. Compared to June of 2008, the median sales price of $199,000 remains the median price in June 2009. Competitively priced homes are still selling in less than 90 days, with many selling within 30 days of entering the market.
Now is an excellent time for buyers to enter the market:
* Interest rates are great
Currently, the interest rate is 5.22%, which is decreased from the interest rates I reported in my June 5th blog. Interest rates rose to a high of 6% in June before they began to go back down. How long will the lower interest rates last? It seems no one really knows for sure. Just be aware that interest rates can rise at any time and quickly, as they did in the month of June.
* Home values remain strong
Austin home values have remained farily stable throughout the national real estate crisis.
* Home inventory remains high
Currently, the Austin area has a large supply of homes on the market, giving buyers a wide selection of homes to chose from in their particular price range. In addition, a large supply of homes keeps Austin home prices competitive and gives the buyer a slight edge when negotiating an offer.
* First-Time Buyers Tax Credit
Anyone who has not owned a home in the past three years is elibigle for a Federal $8,000 Tax Credit. The time to take advantage of the tax credit is quickly running out. The purchased Austin property must close escrow on or before November 30. If you wait too long or the escrow does not close before the deadline, you will lose the tax credit. The tax credit is free money. If you remain in the home for over three years, you do not have to repay it. If you do not need the entire amount of the tax credit, the remainder will be issued
* Austin First-Time Buyers Down Payment Assistance
The City of Austin offers first-time home buyers a zero interest loan up to $10,000 when you live in the home for 10 years. There is also a program which will assist first-time buyers with an interest-free loan up to $40,000 when you live in the home for 30 years.
Filed under: Austin News and Events, Austin Sustainable Living, Austin Texas, Austin Texas News, Austin Texas Real Estate, Real Estate News, Real Estate Tips and Advice, Texas, Visit Austin | Tags: Austin Homeowners
All good things good to an end it seems. And the low-low 4% interest rates have ended. According to the experts, there is little hope that they will return.
For the past three months interest rates have remained under the 5% mark. Just a few short weeks ago, homeowners seeking a refinance, and buyers could get a mortgage loan with an interest rate around the 4.75% mark. Last week the national average was 4.91%. This week interest rates have shot up to 5.39% (as reported by Freddie Mac)! This is the highest interest increase in six months.
According to Yahoo Real Estate today’s rate is 5.396%. However, according to ReatyTimes.com the average rate is 4.91%. Either way, today’s rates indicate interest rates for home mortgages are on the rise.
Austin homeowners, it is important that you understand how higher interest rates effect you. There are some negatives and a very great positive reaction when interest rates go up.
Negative Reactions:
When interest rates rise, even slightly, less buyers qualify
When interest rates rise, buyers do not buy because of higher mortgage payments, which make renting more affordable
When interest rates rise, a home refinance is less likely to be beneficial
Positive Reaction:
When interest rates rise, home purchase activity goes up because buyers want to buy before the rates increase further
Austin home buyers, it is important that you understand how higher interest rates effect you
A higher interest rate results in a higher mortgage payment
A higher interest rate results in less buying power
A higher interest rate can keep you from qualifying for a mortgage loan
A higher interest rate costs you ten of thousands of dollars (in interest paid) over a long period of time (30-year mortgage)
Austin home buyers if you are considering purchasing a home in 2009, get off the fence. There are great reasons to buy now, including the one time (and for this year only), tax credit. By the way, there have been changes to the tax credit which will allow you to use it as a down payment or to pay closing costs when using FHA financing. I will be posting a blog on the benefits of how buying now can save you a lot of money.
Austin homeowner if you are considering refinancing your home loan, get off the fence. The higher the interest rate the less sense it makes to refinance. I will be posting a blog on the benefits of refinancing in a future blog.
Attention Austin homeowners. I will be posting a blog on the benefits of refinancing. It may not be too late!
Attention Austin buyers, I will be posting a blog on the benefits of how buying now can save you a lot of money.
Filed under: Austin Green Living, Austin News and Events, Austin Texas, Austin Texas News, Austin Texas Real Estate, Visit Austin | Tags: Austin, Austin TX, Austin Wildlife Habitat Program, Habitat for Wildlife, Schoolyard Habitat, Wildlife-Friendly Garden
In January, I wrote a blog letting you know about Austin’s Habitat for Wildlife program. Today, I want to tell you that the goal of that plan has been accomplished. The City of Austin has officially been named by the National Wildlife Federation as a community wildlife habitat. On March 12th, the City of Austin was awarded its Community Wildlife Habitat certification. The certification grants Austin the honor of being the largest metropolitan city in the nation and the first city in Texas to be certified by the National Wildlife Federation. The honor was received due to the participation of over 900 homes, 15 businesses, 14 parks, 25 schools and four churches that created habitats for Austin’s wildlife
Austin has accomplished its goal to be certified as a Community Wildlife Habitat, but not its goal to create even more wildlife spaces within the city. You can still participate in Austin’s Wildlife Habitat program. A wildlife space can be something as simple as a birdbath. You will be surprised at the rewards you will receive when giving little creatures a little space. In addition, you can receive your very own wildlife certification.
Congratulations, Austin! And a BIG high-five to all participants who have made Austin a Community Wildlife Habitat.
Shay Hargus, Austin Avenue Real Estate Company
P.S. Make your home stand out with an official Certified Wildlife Habitat sign in your yard.
Read More:
Austin’s Habitat for Wildlife
Wildlife Austin
How to Create a Wildlife-Friendly Garden
Creating A Schoolyard Habitats
Filed under: Austin Green Living, Austin News and Events, Austin Sustainable Living, Austin Texas, Austin Texas News, Austin Texas Real Estate, Texas
As I have mentioned in previous blogs, Austin is a city with a green living vision. I am proud to announce that both the Dell Children’s’ Medical Center and The Advanced Micro Devices (AMD) Lone Star Austin campus have been awarded high honors by the U.S. Green Building Council’s Leadership in Environmental Energy and Design (LEED) rating system.
Dell Chrildren’s Medical Center was awarded the highly coveted platinum rating. The platinum rating is the highest award to be granted by the LEED rating system. The AMD – Lone Star campus located in Austin was awarded a gold rating, the second highest.
The platinum ratings make the Dell Children’s Medical Center the greenest hospital in the world and the first hospital to be recognized for its design and implementation of green living standards. The gold award received by AMD – Lone Star Austin campus is makes it one of the greenest corporate centers in the world.
The LEED Green Building Rating System is the national and worldwide benchmark for environmentally friendly building standards which include design, construction and operation. LEED rates buildings on the materials which improve energy efficiency.
The Dell Children’s Medical Center and the AMD – Lone Star Austin campus display not only their own commitment to sustainable living but to Austin ’s vision of becoming a sustainable city.
Filed under: Austin News and Events, Austin Texas, Austin Texas News, Austin Texas Real Estate, Texas
The City of Austin has established a program in which homes in the city can be habitats for Austin ’s wildlife.
There are no tax benefits or discounts to be had. As a matter of fact, there is a $15 application fee to be certified as a wildlife habitat but the benefits to your quality of life are priceless.
The City of Austin would like to be named by the National Wildlife Federation as a community wildlife habitat. There are already 900 homes that are participating in the program and have already been certified by the City of Austin as wildlife habitats. Schools and businesses are also eligible to become certified wildlife habitats.
A certifiable habitat must provide water and food supply as well as shelter for the little critters. In addition, you must follow sustainable garden principles. Sustainable gardening includes such things as water-wise plants, mulching and composting.
You do not have to own acreage or have a large yard to become a habitat
Eastern Screech Owl - Photo: Austin Parks and Recreation
for wildlife; almost any yard space will do. Most backyards already have the features required to become a certified wildlife habitat. Water saving plants, flowers, plants with berries, trees, bushes and even bird baths found in many yards can be the start of your own wildlife habitat.
A watering source can be a bird bath, a fountain, a pond or a small hole with rocks which fill-up with rainwater. Living spaces for wildlife can be shrubs, bird houses or a small brush pile (a great home for little foxes). Berry and pollen producing plants can be food sources.
Not only do you make a home for Austin ’s little critters, you will also reduce your carbon footprint and contribute to Austin ’s green living lifestyle. Maintaining a habitat is probably easier than a formal yard. They require less watering, mowing, pesticides and upkeep while bringing nature into your everyday life.
Rome wasn’t built in a day and your habitat doesn’t need to be either. By adding water-wise plants, a diversity of shrubs, bushes, flowers or trees, just one plant-at-a-time, will improve the quality of your yard.
Habitats allow you a simple way to return to simpler times in a busy and complicated world. You can enjoy the chirps of sparrows, view the glory of the cardinal, watch a owl teach her young to fly, hear the croak of a toad or see little creatures scurry all in your own little corner of the world.
Related Sites:
Filed under: Austin News and Events, Austin Texas, Austin Texas Real Estate, Texas, Things to do in Austin | Tags: Austin, Christmas, christmas tree, christmastree farms
Still shopping for a Christmas Tree in Austin? - Visit one of these Christmas Tree Farms just outside the Austin city limits.
There are lots of “tree lots” in Austin where you can purchase beautiful Christmas trees but, for a real treat, you may want to visit one of the Christmas tree farms just outside the city limits.
Even if you have already bought your Christmas tree, a visit to these farms will be sure to add to your holiday memories.
EVERGREEN FARMS CHRISTMAS TREES and Gift Shop: The farm also features a nature trail, farm animals and games such as bean bag toss and horseshoes. A visit to the farm could prove to be a fun and stress-free family day with roasting (free) marshmallows over the campfire while drinking hot cider or coffee. There is a nature trail, farm animals, games and pine cone painting for family fun. Evergreen Farms is located at 242 Monkey Road, Elgin, Texas. The farm will be open through Christmas Eve but will close at 3 pm on that day. Evergreen Farms also offer all the tools necessary for tree cutting.
LOMA ALTA CHRISTMAS TREE FARM is another great place for a family visit and finding that perfect tree. Loma Alta Farms offer fun-filled day rides and you can feed the ducks and geese by the pond. The farm also allows you to walk the trails and cut your own holly or gather pine cones. By the way, it is a great place to take pictures with family and friends. The Loma Alta Christmas Tree Farm is located at 214 Loma Alta Drive, Smithville, Texas, 78957. Loma Alta will only be open for a few more days. So, if you don’t go this weekend, be sure to call them before making a trip to the farm. The phone number is (512) 360-2005. You can also email them at lomaalta@flash.net.
I hope that all of you have a perfectly wonderful and blessed Christmas with your family and friends. After all, that is really what Christmas is about: a time of sharing with your family and friends.
HO HO HO Merry Christmas Austin
Here is a little Christmas gift from me to you.
Hope you enjoy: Christmas Greetings.
(I love this one. I posted it last year and wanted to share it again).
Filed under: Austin Texas, Austin Texas Real Estate, Real Estate News, Real Estate Tips and Advice | Tags: broadband access, home buyers, internet, internet access, sellers
The Internet has greatly impacted the real estate arena. The Internet is now influencing home buyers in a new way - Internet access.
Location has always been a key factor for those considering purchasing a home. Now, a new element has been added to the “location” mix. The availability of broadband access can be a factor influencing prospective home buyers decision when considering where to buy.
Buyers want, at the very least, broadband access and some are even demanding that their area of choice offers fiber optic Internet access. Landlords are also finding that renters will choose the apartment offering broadband Internet access over one that does not.
Sellers, don’t be surprised if a “buyer” asks you if you have broadband access and/or what Internet service providers are in your area.
The increasing popularity of social networks, music and video downloads have made the speed in which the user can access the Internet a vital concern for many. The fact that people are using the Internet for their business and can work from home is also an influencing factor.
Mobile phones are no longer just phones. They are cameras and mini laptops which not only have Internet access, but very fast download times as well. People who have instant access to the world at large are not going to come home to a home that does not offer the same speed as the phone in their pocket.
Home buyers and sellers will see this growing national trend impact the Austin real estate market as well.
