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Home Buying in 78702 : Real Estate Advice

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  • Local Info3
  • Home Buying9
  • Home Selling1
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Activity 10
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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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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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
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
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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Wed Jul 2, 2008
Perry Henderson answered:
Buy that lot as quickly as you can. I've sold oer $14mil in that neighborhood. Its a gold mine with appreciation stats of 19%+ last year.
0 votes 7 answers Share Flag
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