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In My Neighborhood in Round Rock : Real Estate Advice

  • All225
  • Local Info18
  • Home Buying67
  • Home Selling15
  • Market Conditions9

Activity 9
Sun Sep 14, 2014
Daphne Quay answered:
Hey there,
It's hard to answer that directly. I did a search for homes that have sold through the neighborhood since 2000 and came up with 710...There may be repeats in there but I think Kaemarie was probably pretty close with 1000 :) ... more
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Wed Oct 30, 2013
Jon Spears answered:
Hey there, I would like the opportunity to help you with your decision. I do home equity and refinance loans everyday. I can fully explain the differences to you and let you know what would work best for you.
visit www.mylendingplace.com/Shannon so I can get started helping.
... more
0 votes 2 answers Share Flag
Thu Aug 15, 2013
Don Groff answered:
Interesting question and yes you did seem to buy at the right time just before the market really started to turn around in the Austin area.

While you could refinance and pull out the equity in the home (you will need to have lived in the home a full year to be able to do that but it looks like you are there now if you purchased last summer) it probably makes sense to downsize and sell if that is truly your objective. If you can sell and make a profit to use towards your business objectives that is probably better than keeping a home that doesn't suit your needs long term.

Buying something today you plan to keep for the long term will allow you to still take advantage of the current low interest rate environment. Sure rates are a point higher than they were a few short months ago but they are going to continue to rise over the next year and into the future. Where they ultimately go is anybodies guess but historically that is the 6% range. As rates increase it may decrease the benefit of downsizing. I mean if the rate on the new smaller home is considerably higher than the 3.75% you have now it makes the smaller home more expensive due to the higher cost of borrowed money.

If you sell now you could essentially keep the 5% necessary for your next purchase aside and the rest could go towards your business goals. It seems like a win win for you and also eliminates the uncertainty of what rates will do which could ultimately force you to stay put where you are now.

That is my two cents anyway. As a mortgage broker and Realtor I fully understand all aspects of the process. If you would like to discuss any of your refinance options or discussing the value of your home please do not hesitate to contact me.

Best of luck to you.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: www.AustinListed.com | www.360LendingGroup.com

(If my answer is helpful indicate by THUMBS UP or BEST ANSWER. Thank you )
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0 votes 5 answers Share Flag
Mon May 6, 2013
Larry Hatzfeld answered:
Hi,
I use a rule of thumb that the gross rent should be 1%. So a duplex that is renting for $1500.00 a month should be $150,000. Of course deferred maintainence or very good condition could alter this one way or the other. ... more
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Mon Jun 4, 2012
Carla Pennington answered:
Did you get comps pulled? Do you need updated comps? Things can change in the six weeks since you posted your question.

If you are still not working with a Realtor I would be happy to help you re-evaluate! No pressure, no cost, just excellent service, and the opportunity to show you that if you know someone who needs a Realtor I would take good care of them and would appreciate the referral!

Carla Pennington, REALTOR
Paula Thomas Real Estate Group
110 E. 8th Street
Georgetown, TX. 78626
(512) 635-2117
Carla@CarlaPennington.com
"What does the Lord require of me? To act justly, love mercy and walk humbly with my God."
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0 votes 14 answers Share Flag
Thu Apr 12, 2012
Greg Hodge answered:
Unless you are going to live in one side, you need to be asking about the rents. A capitalization of about 10% should guide you to what it is worth once you know the rents.

Let's say you get $700/month each side. Multiple by 12 months to get your annual and then divide by 10%. I show a list of about $168,000 would be fair market as an investment. If you can grab it for less then congrats! You win!

Cheers to investing in Real Estate!

Greg
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0 votes 4 answers Share Flag
Tue Nov 1, 2011
Anna M Brocco answered:
Visit a neighborhood several times to get a sense of belonging. Check out area statistics; real estate professionals are prohibited from steering, enticing a buyer to purchase, or not, in specific neighborhoods; so, you should check out demographics on your own to assure your comfort level can be reached. ... more
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Wed Jul 27, 2011
Sonia Guardado answered:
The Town Centre condos are not for lease just for purchase. There just aren't many for lease here in Round Rock.
0 votes 9 answers Share Flag
Wed Jun 30, 2010
Greg Hodge answered:
Mr. Flores,

There are five types of sellers I have identified in the current market: If you are not one of these below, I would wait for the election year - 2012 when things should improve.

1) Need to move-up and don't mind selling for loss because your gain will be so much better.
2) Emergency Crisis- lost job, medical crisis, death in the family, etc.
3) Can't make payment and are in danger of foreclosure - Short sale home.
4) Needing to Relocate because of better job position, can take loss on sell side to buy or rent in new area.
5) Retired and need to downsize or move closer to family while prices are somewhat affordable.

Warm Regards,

Greg
... more
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