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Home Buying in Austin : Real Estate Advice

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Activity 966
Tue Aug 15, 2017
Charlotte Brigham answered:
Are you still looking to move to Austin? I have lived here over 40 years and it is a fantastic place to live. I have had my Real Estate License since 1986 and can help you find the place that best fits your needs. The top three 6A High Schools here are Westlake, Lake Travis and Vandegrift. Each are offers a wide range of housing, priced $350k-way over $1 million. Please let me know if you are interested in viewing what Austin has to offer! Charlotte Brigham Broker, MBA, CLHMS, 512-423-5707 CharBrigham@gmail.com ... more
0 votes 31 answers Share Flag
Sun Aug 13, 2017
Zipliner65 asked:
Wed Aug 9, 2017
Wking answered:
Your correct about basements being the exception and not the rule in Texas. Your incorrect about why. The primary reason is that builders don't want to build them at all and for the obvious reason (don't have a clue how). Basements are all over the state from the Panhandle to Galveston, El Paso to Brownsville.

The soil being a problem is a myth like flying dragon and unicorns. Texas has nearly every type of soil indigenous of the entire US within it. For this reason alone you would have to ask where is it bad. Consider where you don't find a swimming pool in the state for that matter.

Can't build on caliche' or clay is another myth for actually it is the second best soil to build on for stability only second to bedrock. Once excavated if actually costs less to build it upon.

How do I know? I am a basement builder serving all of Texas for the past 15 years. We are the number one basement repair company serving all of Texas. After I wrote my book about basements I hoped these type of posts would stop and they mostly have for the most part.

Willie E King Jr.
... more
1 vote 12 answers Share Flag
Thu Jul 20, 2017
Cadurden asked:
Sat Jul 8, 2017
Susie Kay answered:
Thu Jul 6, 2017
Jrobertflynnii answered:
As a previous sub-division developer ,13 to be exact ,453 lots the 250-300 per foot is a myth, when you add in everything not mentioned previously. Including but not limited to Entrance sign, landscaping, street lights, roll back taxes, cost to carry til completed, attn fees for sub-division restrictions and to inc HOA, any support salaries(not like you can. Do this alone), wetlands remediation, cost of sewer rights of way,etc # of lots to Divide costs, is it mass graded for track builder....at this point your around $500 foot ,depending on concrete and asphalt cost in your area...oh yea if you get a 100 year storm doing grading phase add more to this price

Plus porta John, closing cost to buy land and lot closings, taxes on income, accountant,liability insurance, about 60-70 line item costs
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0 votes 4 answers Share Flag
Tue Jul 4, 2017
Angela Nikolopoulou answered:
Let me know if you find one because it is so expensive. My son is renting and the property is for sale for 699,000 two houses with rental income of 5,000 a month, now thats a good investment but I can go in with you. I don't have the credit for 700,000 property but is an excellent investment. Good luck! ... more
0 votes 17 answers Share Flag
Thu Jun 29, 2017
Susie Kay answered:
Have you told your realtor that you think it's risky? What did she/he say?
0 votes 1 answer Share Flag
Sat Jun 24, 2017
Susie Kay answered:
I would suggest that you read your contract again AND ask your realtor for advice.
0 votes 1 answer Share Flag
Sun Jun 11, 2017
Susie Kay answered:
Wed May 24, 2017
Susie Kay answered:
0 votes 2 answers Share Flag
Wed May 24, 2017
Charlesautod answered:
Good morning I would like to know if I just have my w2 from years I worked and current pay stubs and bank statements will that be enough to satisfy the lender or underwriter?
0 votes 15 answers Share Flag
Fri May 19, 2017
James Farias answered:
Stumbled upon this thread and I find it disconcerting that the agents answering the question seem to know less about the TREC 1-4 contract, and Third Party Financing Addendum. While it is an old thread, there are likely many people still reading the question and the answers and being misinformed.

The number of days in the Third Party Financing Addendum applies to *buyer* approval only - *not property* approval. Property approval is not subject to that time frame, as that is at the discretion of the lender, who is not a party to the contract.

That being said, just because a house did not appraise at contract price, does not mean the buyer can just terminate the contract. The person asking the question is more correct here than the agents giving advice.

From TAR:

"Maybe. A low appraisal doesn't always give a buyer an automatic right to terminate the contract. It depends on whether the lender approves financing for the amount written into Paragraph 4A. If the lender doesn't approve the loan because of the appraisal, the buyer can terminate at any time before closing and receive his earnest money back.

However, the lender may still approve the loan despite the low appraisal. This could happen if the buyer is making a large downpayment. If the lender still approves the loan, the buyer may not use a low appraisal as a reason to terminate under Paragraph 4A. "
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0 votes 21 answers Share Flag
Sat May 6, 2017
Susie Kay answered:
Have you signed the contract? If not, then walk away. In the future, I would suggest that you hire a local realtor to assist you.
0 votes 1 answer Share Flag
Thu May 4, 2017
vivianne dordea answered:
As a Realtor and an investor myself, I would be happy to help you find the right property in a location where you most likely will always have renters. I have a condo in Avery Ranch that has been rented without interruption since 2010. Leander and Cedar Park are also great places since I see that rents have continually increased. However, you have to make sure that the rent will cover your mortgage, property tax, insurance, HOA fees and also keep in mind that rental income is taxable.

Contact me if you'd like me to assist with your investment purchase.

Vivianne Dordea, Realtor
Sierra Homes Realty
512-554-5997
... more
0 votes 2 answers Share Flag
Sun Apr 16, 2017
Susie Kay answered:
If you are looking to purchase a home there, any local agent can assist you.
0 votes 1 answer Share Flag
Fri Apr 14, 2017
Susie Kay answered:
Morgan,

No one can tell you whether you need to purchase or keep on renting. However, having said that, given the above scenario have you ever considered that the price of the home keeps on going up? ... more
0 votes 1 answer Share Flag
Sat Apr 1, 2017
Susie Kay answered:
Verijean,

I would suggest that you work with a local realtor to assist you on this matter. In general their product is entry level; however, having said that, every subdivision is different and that's why you need to work with a local realtor.

I hope this makes sense! If you are in Dallas then I'd be happy to assist.
... more
0 votes 1 answer Share Flag
Sun Mar 19, 2017
Susie Kay answered:
Yes, there are rules about capital gain. You are better off asking your CPA about it. Also here's a link from the IRS about it:

https://www.irs.gov/taxtopics/tc701.html

I hope this helps! ... more
0 votes 1 answer Share Flag
Sat Mar 11, 2017
answered:
Hello, I'm a mortgage professional.

If your obtaining a mortgage you are allowed to get a gift from your parents. There is a prices to how the funds need to be documented.

You are welcome to get in touch with me if you would like help with this or have any questions. ... more
0 votes 1 answer Share Flag
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