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78702 : Real Estate Advice

  • All26
  • Local Info3
  • Home Buying9
  • Home Selling1
  • Market Conditions0

Activity 23
Mon Nov 21, 2016
Lauravanlanduyt asked:
Mon Sep 19, 2016
Josephsullivan5959 answered:
Hi Ophee0,
Yes, you can definitely list your rental property on Trulia without a real estate agent. Zillow Rental Manager provides a way to list your property. I use the new software, and it lists my property on Trulia and 40 other websites. Make sure that you are also doing a background and credit check on your applicants. I learned that the hard way.

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0 votes 1 answer Share Flag
Tue Nov 18, 2014
garypuntman answered:
I am looking for someone as well. I think that it would make a big difference for me. I want to add some more curb appeal to my home.
0 votes 1 answer Share Flag
Fri Aug 1, 2014
Carlie Sky answered:
It does need to be listed as a condo, if this is the legal description of the property. Even if it is a site condo and you own all of it, including the roof and walls, the land ownership is not the same as single-family home and you cannot call it that for legal reason's. Also, when the person buying it is getting a loan, the lender will need to know that it is a site condo and not a single-family home as there are different types of loans for these.

If you are not a realtor yourself, I would suggest getting one to list it properly for you as well as promote it. There should be no reason that you cannot sell it quickly in the Austin market.
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0 votes 2 answers Share Flag
Sun May 12, 2013
Ray, The first two things you need to do are find out if this lot will work for what you are looking to do, and make sure it is not too small or has heritage trees, etc., and also get pre-approved with a lender. If you are not yet working with a Realtor, give me a call and I will try to walk you through what needs to be done. It is not a simple process, but I have gone through it with other clients and developers as well.

Joe Jarusinsky, Realtor/Master Instructor, Keller Williams Realty, Austin's #1 Real Estate Company, Ranked #1 by Buyers and Sellers (JD Power & Assoc. 2012) Call 512-261-4415
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0 votes 5 answers Share Flag
Thu Dec 22, 2011
tim sweeney answered:
you can put in an application for a demolition permit, it requires your notarized signature and a tax certificate showing the taxes have been paid, the tax cert costs $10 and it should take the City anywhere from 5-30 days to decide if they will let you tear it down. ... more
0 votes 15 answers Share Flag
Thu Jun 9, 2011
Lora Herring answered:
John, I didn't say brokers have better rates, I was trying to state that going to the bank instead of a broker does not always save you money. This has been my experience over many years. I decided not to get too verbose with going into how some banks have special programs. Just trying to say going directly to the VA (if even possible) wasn't necessarily a money saver. ... more
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Tue Oct 27, 2009
Randy Stevens answered:

A cool place to go to for testing different scenarios about your credit and how it will affect your score: You can enter certain scenarios like getting a new loan or credit card, etc. and see what happens to your score. DISCLAIMER: I am in no way affiliated with and do not know how they do their calculations on credit scores. I just thought it is an easy way to get a general idea about how you can go about improving your score.

As far as buying a home, I currently have owner financed homes in Austin and surrounding areas that you could still qualify for if you have a reasonable down payment and can meet your monthly payments by proving your monthly income. There is NO BANK QUALIFYING with our program and you get 100% ownership of the home from day one. Best of all, you will still qualify for the $8000 tax credit if we find you a home NOW! Contact me today and visit my website to see some of the homes we have available.
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0 votes 8 answers Share Flag
Sun Oct 18, 2009
Seller Financing Specialist answered:
Hi Gabe,

Not sure if you're still shopping. You can always consider purchasing an owner financed home. I'm an investor that specializes in selling owner financed homes to buyers who cannot qualify for a traditional mortgage. With my owner financing program you'd still qualify for the $8,000 tax credit.

Take a look at my website below. You can also call me at 373-6131 to discuss any of the homes you see on my website and/or to discuss how my owner financing program would fit your needs.

We've owner financed a home to a mortgage broker and attorney just recently. They found our owner financing program much more flexible than the traditional financing options they had.

Best of luck.


PS. Avoid rent to own, lease purchase or lease option. You won't get the deed to the home or any of the tax benefits. That is not the type of owner financing we do. With us your name goes on title and you get the deed the day you pick up your keys at closing.
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0 votes 18 answers Share Flag
Fri Aug 14, 2009
Steve Ferguson answered:
I want to clarify my previous answer as many new homes do qualify for this program. Here are the exact words regarding the FHA 203K loan from FHA guidelines:

"Purchase and rehabilitate an existing structure that has been completed for at least one year."

You can purchase any home you want to as long as its been completed for at least one year. There are several brand new homes that have been completed and sitting for a year waiting for someone to buy them. This is often the case when a builder does not finnish the kitchen , trim etc and they don't want to invest the money in the details. I hope this helps.
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Thu Aug 6, 2009
Amanita asked:
I am interested in purchasing a very attractive residential property in east Austin but because I am a business owner and my business didn't have revenue last year I can't qualified for…
0 votes 0 Answers Share Flag
Tue Aug 4, 2009
Joe Salcedo answered:
Good Morning Neith,

I do not think the investor can lend you this kind of money, they are interested on
55 to 60 loan to value if you owned a property they will give it to you. With the
condition that the property should be appraised and HARD MONEY is hard to
a get a loan and with high interest rates too.
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0 votes 2 answers Share Flag
Wed Feb 18, 2009
Buyers House Realty answered:
Are you still in search of a good deal in DT Austin? I also moved from Florida to Austin, so I can relate to your search. I am an online real estate broker specializing in working with savvy buyers who want a reward for finding their own property. I offer 75% of my commission for using my services. Basically you do the legwork, and I will do all the paperwork. Visit us online at and start searching for homes for free.

Gavin St.Louis
Texas Managing Broker
Buyers House Realty
"Showing You The Rebate"
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0 votes 6 answers Share Flag
Sat Jan 24, 2009
Betina Foreman answered:
Dear CC,
Nick tol me you called. I hope this loan works out for you. Please give me a shout if I may be of further assistance.
0 votes 7 answers Share Flag
Thu Jan 22, 2009
Robert H. Nelson answered:
Construction loans, like other loans, are factored heavily by the borrowers credit score. You will probably find financing in the upper 6's to low 7's This type of financing is a bit harder to find, right now, with most lenders looking for more "conventional" loans. . However, I have found that many smaller banks are still working with qualified borrowers for "out of the box" solutions. The key is in packaging your proposal in a professional manner, so that the underwriters have a good handle on what you are seeking to do. I would make sure that you include a value, based on area comparables, of your finished project. It would be best if your project shows an equity position at it's conclusion of at least 20% Good luck with your project! ... more
0 votes 6 answers Share Flag
Tue Jan 6, 2009
CC answered:
I agree with the answers supplied. From a land use perspective, one thing to keep in mind are the provisions allowed for small lot development in this area, so you may not need to purchase a .25 acre lot to recoup your investment. The city's neighborhood plan for this area allows various increases over the regular limitations, due to nature of the small-lot configuration. Also, due to the age of the lots, some have been illegally subdivided over the years. The city also allows for correcting this without going through the normal (and expensive) replatting process. I used to work at the city and approve the residential building plans for this area all day, but now run my own land use firm and am active in the 78702/east side market. Feel free to contact if I can help you out. Otherwise best of luck! DC
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Mon Nov 24, 2008
Tammy Young answered:
Hi. I am a real estate agent as well as East Austin home owner...and I also have two small children. I have been living in East Austin for 2 years...and I have seen a drastic change in the community during that short time (and excellent property appreciation...anyway you look at it!). Now-a-days I actually go JOGGING with my kids!!! I do bring my cell phone along just in case, but in general, I feel completely safe...and always see other joggers. Things have changed over here and continue to do so at a quick pace.

The fastest property appreciation will be west of the soon to arrive commuter rail...especially within walking distance of either the MLK, Jr. station or the Plaza Saltillo station.

I would recommend taking a look at a new construction home in East Austin. There are several in your price range in 78702. Look at single family homes built by independent builders. Sometimes these homes might technically be detached condos because of the small lot size, but don't let that deter you. What you will get is a unique home, minutes from downtown, without the headache/expense of restoring/repairing that charming yet dilapidated 1920's bungalow. ...AND...these homes definitely still have room for improvement by adding landscaping, sprinkler systems, and "outdoor living areas" (think Big Red Sun style)...which will help your home go for top dollar in the Austin market 4-5 years from now. A new 3/2 just went up across the street from me in the $240's.

Finally --- East Austin was rated top 15 investments by a few weeks back. I blogged about it recently (see link below).

Good luck.

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1 vote 8 answers Share Flag
Thu Jul 31, 2008
Betina Foreman answered:
Dear Samir,
Buying in East Austin should not be too daunting. Stay as close to downtown as you can and you should see a return on your investment sooner. Land may be harder to quailify for, than a property that can be lived in and or leased is usually a better option. There are programs that will help you with downpayment assistance available from the city of Austin. Also if you are actually buying a home, I have a lender that will pay your closing costs if its under $200K. Please call me if I may be of further assistance.
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