Cortney Zieky

Selling Your Home? Here are 20 Design Features That Send Buyers Running

2009-09-30T09:20:00.000-07:00

By Barbara Ballinger, Architecture Coach columnist via Styled & Staged & Sold.

Design glitches draw attention away from a home’s best features. Don’t let out-of-date fixtures and unappealing decor cost you a sale. While some buyers may actually appreciate “vintage” features, home and design experts say these 20 features almost always serve as a turnoff.

1. Dated and excessively bold or dark paint and tile colors, such as “Pepto Bismol” pink, avocado green, deep plum, or jet black

2. Lacquered or high-gloss painted walls that are expensive to repaint and show all defects. Likewise, faux- and sponge-painted walls can be so passe.

3. Painted trim that’s very dark-and costly to remove.

4. Wallpaper, which is a lot of work (and potentially expensive) to remove. Most disliked: Dated flowered or striped patterns.

5. Kitchens that lack any dining space. Also, outdated, small-scale, and dirty kitchen appliances that look like they won’t perform.

6. Worn, cracked laminate countertops, and backsplashes or plastic cultured marble.

7. Outdated bathrooms with small sinks, short toilets, squatty bathtubs, and tight showers-all of which aren’t conducive to unwinding after a long day’s work, says Ames.

8. Lack of ample closet space in bedrooms, or no closet at all and no place to build one or add an armoire.

9. Dens, libraries, and family rooms without built-in bookcases or a space to include shelves.

10. Stained and worn wall-to-wall carpet in rooms or on stairs. Worst choice: shag. Also, worn linoleum that suggests a house was never updated.

11. Poorly built additions that don’t blend with a home’s architecture, such as a sunroom with tinted glass.

12. Shortage of windows or very small windows, which makes a home feels dark and gloomy.

13. Ceilings with so many recessed lighting spots that they resemble Swiss cheese and are expensive to remove. Worst offenders: big 6-inch diameter lights.

14. Too many rooms outside the kitchen and bathroom that have cold ceramic tiled floors

15. Children’s bedrooms with a theme that runs through the carpeting, wallpaper, murals, ceilings, light fixtures, curtains, and furnishings.

16. Homes without a foyer or garage.

17. Too many mirrored walls, ceilings, doors, and backsplashes in a single room. The effect is dizzying, Ames says. One mirror magnifies, but many cheapen the look.

18. Skimpy molding and trim, such as 1-inch baseboards.

19. Noisy, grinding fan in a bathroom that’s attached to a light switch so it can’t be turned off.

20. Inexpensive gold-colored light fixtures in any room. Also, Hollywood-style lighting with huge bulbs in a bathroom is also out of date.

Let me know if I can assist in getting your home ready to go on the market!
I'd be happy to provide a complimentary "walk thru" and give you my opinion on your house's condition.

Thanks!

Cortney Zieky

7 Tips for Home Buyers

2009-09-29T09:14:00.000-07:00

A year after the financial collapse of 2008, the housing market is very different than it was before the foreclosure crisis.

Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today:

1. Old-fashioned basics are more important than ever. The safest way to purchase a home is to put down 20 percent on a fixed-rate, 30-year (or less) mortgage.

2. Don’t become overconfident about income growth. Even though buyers in their 20s and 30s will likely see their incomes grow more quickly than previous generations, it is important to act sensibly when borrowing.

3. Anyone contemplating adding children to the family should calculate whether they could live on one income because having both halves of a couple work may turn out to be impractical.

4. Include a maintenance budget. Even new homes need upkeep and repairs.

5. Buyers who can't afford their dream home now should opt for a starter home where they can save money each month for what they really want.

6. Consider a property that can be expanded and improved down the road when money is available.

7. No two buyers are the same, but they should all feel confident with the loan they enter into, no matter the size of the mortgage.

Source: The New York Times, Ron Lieber (09/12/2009)

Please let me know if I can assist with your new home search!

Cortney Zieky
Exit Advantage Realty
Austin, Texas

New Home Owner Information

2009-09-18T09:04:00.000-07:00

If you've recently taken advantage of the First Time Home Buyer Tax Credit, kudos to you!

This post is designed to recycle a few useful tips that as a new homeowner, you will benefit from.
Let me know if the content was useful!

Now that I own a home, how do I throw a housewarming party? : click here

How do I file for the First Time Home Buyer Tax credit on my tax returns? :
click here:

Lastly, here is a post detailing inexpensive decor tips to spice up your new home!
Enjoy!
Click here

Happy Friday!

Cortney Zieky, REALTOR
Exit Advantage Realty
Direct: 512-779-5396
http://www.cortneyziekyhomes.com

Men vs Women

2009-09-17T08:56:00.000-07:00

By Melissa Dittmann Tracey

Women and men home buyers don’t differ too much when it comes to what they look for in a home, according to a new survey by Coldwell Banker Real Estate, which asked 1,000 women and men about their home buying preferences.

However, women do tend to make up their minds more quickly about a home than men. In fact, according to the survey, 70 percent of women had made up their mind the day they walked into the house compared to 62 percent of men—who often needed two or more visits to decide.

Men and women mostly agree on how they would use a spare 12 x 12 room, if they had their choice.
Their top choices:

Bedroom: 25 percent
Office/study: 15 percent
Family room/den: 11 percent

Men, however, did like the idea of a “man cave” for recreation and entertainment—four times as many men as women asked for such a room, according to the survey.

As for women’s preferences while shopping for a home, location and security were key. Fifty-five percent of the women surveyed said they wanted to live close to their extended family – more so than to their job. Also, 64 percent said that even if they found the house of their dreams, they would no longer want it if they had any security concerns about its location.

Do you and your significant other's taste & preferences largely differ?

Condo Purchases Require Extra Steps

2009-09-16T12:00:00.000-07:00

Condo Purchases Require Extra Steps
Homebuyers contemplating purchasing a condominium should review a long list of documents and other information to make sure that the property they are considering is a solid buy in this challenging market.

The following information is at the top of the must-consider list:

Budget: Examine the current budget, a year-to-date statement of income and expenses, and a couple of previous years’ budgets to see how they’ve changed.

Reserve study: Understand the plan for maintenance and how it will be paid for.

Special assessments: Ask if there have been any and whether more are planned.

Delinquencies: How many owners are behind in their payments? Many lenders say no more than 15 percent of owners can be in arrears or they won’t write mortgages in the complex.

Source: Chicago Tribune, Lew Sichelman (08/23/2009)

10 Housing Markets Likely to Rebound Soon

2009-09-11T10:45:00.001-07:00

According to Local Market Monitor, Texas is a great place to be a property owner.
Although property values in Texas are not expected to rise in 2009, at least values aren't on the decline like many regions of the nation.
Austin didn't make the top 10, Dallas, Fort Worth, Houston & San Antonio did!

REALTORÃ‚Â® Magazine-Daily News-10 Housing Markets Likely to Rebound Soon

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Only 51 Days left!

2009-09-09T09:02:00.000-07:00

If you are picturing yourself in a new home using the $8000 Stimulus Money - There is only 51 days remaining to take advantage of this opportunity.

Contract needs to be executed no later than October 31st to meet the November 30th closing deadline. Yikes!!!

It's right around the corner.

Click here for more info:

Cortney Zieky, REALTOR
Exit Advantage Realty
Direct: 512-779-5396
http://www.cortneyziekyhomes.com
http://cortneyzieky.blogspot.com/

OH! By The Way, I'm never too busy for your referrals!

FIRST TIME HOME BUYER TAX CREDIT- THE FACTS

2009-09-05T06:42:00.000-07:00

The American Recovery and Reinvestment Act of 2009
authorizes a tax credit of up to $8,000 for qualified first-time
home buyers purchasing a principal residence on or after
January 1, 2009 and before December 1, 2009.

1.Who is eligible to claim the tax credit?
First-time home buyers purchasing any kind of home ”new
or resale€”are eligible for the tax credit. For the purposes of
the tax credit, the purchase date is the date when closing
occurs and the title to the property transfers to the home
owner.

2.What is the definition of a first-time home buyer?
The law defines "first-time home buyer" as a buyer who has
not owned a principal residence during the three-year
period prior to the purchase.

3.How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s
purchase price up to a maximum of $8,000.

4.Are there any income limits for claiming the tax credit?
Yes. The income limit for single taxpayers is $75,000; the
limit is $150,000 for married taxpayers filing a joint return.

5.How is this home buyer tax credit different from the
tax credit that Congress enacted in July of 2008?
The most significant difference is that this tax credit does
not have to be repaid. Because it had to be repaid, the
previous "credit" was essentially an interest-free loan. This
tax incentive is a true tax credit. However, home buyers
must use the residence as a principal residence for at least
three years or face recapture of the tax credit amount.

More FAQ’s at www.federalhousingtaxcredit.com

7 Reasons to Own Your Own Home

2009-09-04T06:37:00.000-07:00

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation!
Real estate has long-term, stable growth in value. While year-to year
fluctuations are normal, median existing-home sale prices have increased on
average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent
over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

3. Equity. Money paid for rent is money that you'll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don't rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

Online resources: To calculate whether buying is the best financial option for you, use the "Buy vs. Rent" calculator at www.GinnieMae.gov

Feel free to contact me as well. I would be happy to assist you weigh your personal "pro's" & "con's".

Cortney Zieky, REALTOR
Exit Advantage Realty
Email: cortney.zieky@gmail.com
Direct: 512-779-5396
http://www.cortneyziekyhomes.com

REALTOR® Magazine--First-Time Buyer Tax Credit Extension Possible

2009-09-03T06:29:00.000-07:00

REALTORÃ‚Â® Magazine-Daily News-First-Time Buyer Tax Credit Extension Possible

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Happy September!

2009-09-02T06:19:00.000-07:00

Wow summer is flying by!.. Before you know it.. fall will be upon us.

Let's have some fun in the sun before the chilly weather rolls in.. See the action below!

Sports
9/4, 6:30 pm
Zilker Relays
Zilker Park - Soccer Fields, Austin
www.runtex.com/web/2-2573.asp

9/5, 6 pm CT
UT Football
Austin vs. Louisiana-Monroe
Austin
www.mackbrown-texasfootball.com

9/7, 7 am
The Austin Triathlon
Auditorium Shores, Austin
www.theaustintriathlon.com

9/12, 8 am
Keep Austin Weird 5K
Downtown, Austin
www.runtex.com/web/2-2606.asp

9/27, 7 am
Silicon Labs Austin Marathon Relay
Auditorium Shores, Austin
www.runtex.com/web/2-2638.asp

Music & Events

STUBB’S
9/4 Robert Earl Keen
9/5 The Cult
9/18 Pat Green
801 Red River
www.stubbsaustin.com

9/25, 8 pm
George Strait
Cedar Park Center
Cedar Park
www.cedarparkcenter.com

9/29, 7:30 pm
Journey with special guest Night Ranger
Frank Erwin Center
www.uterwincenter.com

9/13, Doors/Bar @ 5pm / Show @ 6pm
Noche de Mariachi
The Paramount Theatre
www.austintheatre.org

9/18, Doors/Bar @ 7pm / Show @ 8pm
Carl Thomas - Live in Concert
The Paramount Theatre
www.austintheatre.org

9/25, 7 pm & 9:30 pm
Ray Price with opening by Dale Watson
One World Theatre
www.oneworldtheatre.org

9/26-27
Old Pecan Street Arts Festival
E. 6th St.
www.oldpecanstreetfestival.com

Now is the Time to Buy in Real Estate according to Business Week

2009-09-01T06:30:00.000-07:00

Now Is the Time to Buy in Real Estate
Investors are returning as the real estate market recovers.

BusinessWeek’s real estate guru Marc Roth points out these opportunities, which he says make sense if investors are willing to look over the property carefully and ask tough questions.

Options they might consider:

1.Buying a single-family house. This could be a first home, dream home, or a home to rent out.

2.Buying a multi-family investment property.

3.Snapping up a vacation property. There are deep discounts to be found in high-end resort areas.

4.Investing in a Real Estate Investment Trust. REITs were hit hard in the downturn, but many are on their way back.

Source: BusinessWeek, Marc Roth (08/26/2009)

What do you think? Would you invest in any of the above?

10 Tips for Boosting Curb Appeal

2009-09-01T06:14:00.000-07:00

By Phyllis Harb, Dickson Podley REALTORS®

1. Trim shrubs and trees in the front yard; a homebuyer should be able to see your home’s architectural features (such as that beautiful picture window). Tidy up your yard; put away hoses, trash cans, etc.

2. Remove the screen door (if any), dress up the front porch with a plant (if there’s room), and wash your windows and your screens.

3. If the mailbox is visible from the curb, ensure that it is attractive.

4. Repaint any peeling trim or exterior paint.

5. Define the approach: Add a stone walkway or path leading to the house, or define it with plants or flowers.

6. Ensure any automatic lights along the house and walkways light up when it gets dark.

7. When visible from the street, replace that tired looking garage door with a new one. Remember to keep the door style in tune with the home’s architectural style.

8. Make sure the driveway isn’t cracked. If so consider repair or resurface.

9. Add details such as shutters and decorative moldings. Make boring windows come alive and (depending on your home’s style) define the architecture of your house with shutters or ironwork.

10. Take one more close look at the exterior of the property from a buyer’s perspective. Imagine the real estate professional at your front door fumbling with the lockbox as the homebuyers are looking at your neighborhood–what do they see? Is there trash in the street? Is the neighbor’s lawn overgrown?

I offer my clients a complimentary decor consultation during our pre-listing meeting. The goal is to only spend money on repairs and improvements that will offer you a good return on your investment.

Let me know if I can assist you!

Cortney Zieky, REALTOR
Exit Advantage Realty
Direct: 512-779-5396
Email: cortney.zieky@gmail.com
http://www.cortneyziekyhomes.com

Austin Area Homes Level Out??

2009-08-21T07:29:00.000-07:00

I came across the attached article in the Austin American Statesman yesterday. In my opinion it's a bit optimistic to say the market has stabilized, but I hope its what we are moving towards!

By Shonda Novak | Thursday, August 20, 2009, 11:22 AM

Existing home sales in Central Texas were flat last month, the first time in more than two years that they were not lower than the same month a year earlier.

The Austin Board of Realtors reported that there were 2,069 sales last month, and 2,068 in July 2008.

In a sign of a stabilizing market, the year-over-year percentage decline had been shrinking in recent months, after a string of double-digit percentage drops.

Pending sales were down 2 percent, while the number of listings was down 8 percent from a year ago. Homes are taking longer to sell, an average of 75 days, up 17 percent from a year ago.

July’s median home price was $191,500, down 2 percent from July 2008.

“The sales volume momentum in Austin continues, now reaching 2008 levels,” said Jay Gohil, chairman of the board. ” That’s good news, but I think it’s even better news that we’ve achieved that increase while maintaining a steady median home price.”

Local real estate expert Charles Heimsath has predicted the region’s median would drift down this year, but not decline substantially.

So far this year, the median price fluctuated only slightly compared to 2008, Gohil said.

“Looking back further, prices have remained above 2007 levels, one of the most lucrative years of the last decade in Austin real estate,” he said. “That long-term price stability, particularly in the face of market fluctuations, bodes well for Austin’s future.”

Through July, area home sales were down 18 percent from the same period of 2008.

Cortney Zieky, REALTOR
Exit Advantage Realty
http://www.cortneyziekyhomes.com

Austin Area Farmers Market

2009-08-18T18:34:00.000-07:00

We are so lucky to live in a city that features local farmers, artisians & vendors nearly everyday via farmer's markets, street fair's & festivals.
See below to find one near you & Buy Local!

Austin at The Triangle
Wednesday, 4 - 8
Triangle Ave, at Triangle Park

Georgetown
Thursday, 3:30 - 6:30 pm / April - Nov.
300 East Morrow Street
www.gtfma.com

Austin Republic Square Park
Saturday, 8 am to noon (Spring/Summer)
9 am -1 pm (Oct. 31st - March 6th, 2010 )
4th and Guadalupe at Republic Square Park
www.austinfarmersmarket.org

South Austin
Saturday, 8 am - 1 pm / Year round
2910 South Congress
www.austinfarm.org/safm

Round Rock
Saturday, 8 am - noon / April - July
200 E. Baghdad Rd. (City Hall Pkg. Garage)
www.gtfma.com

Sunset Valley
Saturday, 9 am - 1 pm / Year round
2300 Jones Rd. - Toney Burger Ctr.
www.sunsetvalleyfarmersmarket.org

Homegrown in Central Texas

2009-08-14T14:54:00.000-07:00

I'm starting a brief series on how to buy local in every category of your personal purchases!
By helping our community, we make Austin a better place to live & work!
Locally-owned businesses contribute not just to our economy but also to our culture. From funky to sophisticated, independent businesses of Central Texas foster vibrant and diverse choices.

Let's start with Restaurants! YUM!

Jeffrey’s Restaurant and Bar
A destination for homegrown glamour since 1975.
1204 West Lynn St, Austin, TX 78703
512-477-5584
jeffreysofaustin@jeffreysofaustin.com

Chez Zee American Bistro, Bar, & Dessert Factory
5406 Balcones Dr, Austin, TX 78731
512-454-2666 / www.chez-zee.com

Fonda San Miguel
Celebrating distinctive regional Mexican
cuisine and colorful history since 1975.
2330 West North Loop, Austin, TX 78756
512-459-4121
www.fondasanmiguel.com

Opal Divine’s Austin Grill
Opal Divine’s Austin Grill “Fresh, Friendly, Naturally”.
www.opaldivines.com

Ruby’s BBQ on Guadalupe
Family-owned and operated since 1988.
www.rubysbbq.com

Guero’s Taco Bar
A popular South Austin taqueria since 1986.
1412 S Congress Ave, Austin, TX 78704
512-447-7688 / www.guerostacobar.com

What are your favorite local Austin restaurants?

Sales Tax Holiday

2009-08-13T14:38:00.001-07:00

Mark Your calendars!!! Texas Sales Tax Holiday is August 21st-23rd!

No exemption certificate is required - with one exception. If the purchaser is buying the supplies under a business account, the retailer must obtain an exemption certificate from the purchaser certifying that the items are purchased for use by an elementary or secondary school student. “Under a business account” means the purchaser is using a business credit card or business check rather than a personal credit card or personal check; being billed under a business account maintained at the retailer; or is using a business membership at a retailer that is membership based.

Happy Tax Free Texas Shopping!! Support our local business owners, they'll be happy to see you!

For more information: click here

Cortney Zieky, REALTOR
Exit Advantage Realty
Direct: 512-779-5396
http://www.cortneyziekyhomes.com

How to Get the 2009 First Time Home Buyer Tax Credit

2009-08-11T06:23:00.000-07:00

You've decided to purchase a home and take advantage of the 2009 First-Time Home Buyer Tax Credit. Now What?

Here's what you have to do to get your benefit:
1.Close on your home purchase by November 30, 2009,
2.Ensure that you are a qualified first-time buyer under IRS guidelines,
**Haven't owned a home in the past three years.
3.Decide which year to file under, 2008 or 2009,
4.File an amended 2008 return or choose to apply the credit to your 2009 tax return

Deciding When to Apply the Credit

1). If you want the benefits of your credit as soon as possible:
You might choose to file under your 2008 tax year. Since April 15 has already passed, you would have to file an amendment to your return. However, if you've already filed for an extension of your 2008 return, then you can simply claim the credit when you submit your return.

2). If you anticipate a drop in income next year:
You can wait to claim the credit as part of your 2009 filing. In some cases the value of the credit might be higher, particularly if in 2008 you qualify for only a partial credit because your income is over $75,000 (single) or $150,000 (joint).

Your Next Steps

Once you have determined which year to apply the tax credit, you will need to do two things to claim the credit:

1.Fill out Form 5405 to determine the amount of your available credit, and
2.File an amended return for your 2008 taxes, or wait and apply to credit when you file your 2009 tax return

If you are interested in taking advantage of this program, it is time sensitive.
Let me know if I can assist with your home search. I have a easy to follow program for my first time home buyers!

Thanks to REALTOR.org for the content for this post.

Austin Accolades Part 2

2009-08-10T09:51:00.000-07:00

There's still more reasons why Austin, Texas as come out on top in national press comparisons of American cities.

Not convinced? Keep reading!

Forbes magazine named Austin the No. 3 city on a list of "recession-proof" cities due to its strong housing market, low unemployment rates and growth in agriculture, energy and manufacturing. (May 2008)

• Austin is listed as one of the Top 10 Best Places to Live in the U.S. by Msnbc.com, due to its strong economy and natural beauty. (June 2008)

• Forbes used data supplied by Moodyseconomy.com and Global insight to rank Austin #1 among the country's most economically healthy large metros. (Jan, 2008)
• Austin ranks 1st in Fastest Growing Metro's in 2008 by Business News and Financial News (Forbes.com, March 2008)

JOBS AND BUSINESS
• Austin ranks 3rd in Best Cities for Jobs in 2008 by Business News and Financial News (Forbes.com, January 2008)
• Salary.com survey ranked Austin #13 out of 69 cities as a place to build wealth. (June 2008)
• Texas Ranks #1 in the Country for Economic Development (Business Facilities Magazine, December 2007)
• The Austin-Round Rock MSA ranked the best place for business in the US (MoodysEconomy.com, August 2007)
• Austin ranks 1st among U.S. cities in the 4th annual Mayors Challenge of the Best Cities for Future Businesses (Expansion Mgmt. Magazine, 2007)
• Austin is one of the hottest entrepreneurial regions in the country, according to Inc. Magazine 's annual Inc. 500 ranking. (September 2007)
• Fast Company magazine lists Austin as a "Startup Hub" with a creative, young population and a high number of wi-fi spots per capita. (July 2007)
• Austin ranks #7 in Best Cities for Finding Opportunity (June 2009)

FAMILIES AND RELOCATION
• Family Circle named Cedar Park as one of America's Top 10 Cities for Families (August 2007)
• Georgetown ranks 1st Among the Best Places to Retire (US NewsWorld Report, October 2007)
• Round Rock was selected as one of the 100 Best Communities for Young People in the nation (America's Promise, January, 2007)
• Worldwide ERC and Primacy Relocation gave Austin the #5 ranking as the best large city for relocating families (June 2007)

ENVIRONMENT
• Austin is listed among the top 10 greenest cities in the U.S. (Popular Science, Feb 2008)
• Austin is one of the top four cities to watch as a retirement-friendly community, (AARP The Magazine, July 2007)
• MSN.com gives Austin top billing among America's Greenest Cities, citing the city's green energy program and climate protection plan. (June 2007)
• Natural Home magazine ranks Austin #2 among America's Top Ten Eco-Friendly Communities.
• Austin named #1 of top 27 environmentally friendly cities to live in by U.S. Private Communities. (2007)

EDUCATION
• US News ranks The University of Texas at Austin #18 on America's Best Graduate Schools 2008(out of 100).
• Newsweek lauds the University of Texas as "Hottest for Saving America's Schools," for excellence in education reform,(August 2007).
• Austin ranks 5th among the most educated cities in the U.S. 45.1% of the population has a college degree, or higher.(The US Census Bureau)
• Austin ranks as the 3rd Smartest City in the country (Bizjournals.com, June 2006)
• Austin ranks in the Top 5 "Smart Places to Live" (Kiplinger's Personal Finance and the Austin Business Journal, June 2006)

RELATIONSHIPS
• Forbes.com cites Austin's nightlife, culture and low cost of living as major reasons it appears on Forbes' list of Best Places for Singles.
• Forbes.com ranks Austin as the 5th best city in America for couples. (February 2008)
• Best Cities for Dating - Austin, TX take home the grand prize on Sperling's Best Citities for Dating 2007.

TOURISM
• Travel & Leisure readers were surveyed to determine America's Favorite City. Boston took the top honors overall, but Austin ranked high in many categories
including attractive people, athleticism, intellect, friendliness and, of course, live music. (Sept 2008)
• New York Times names the Texas Hill Country and Austin among its Top 31 Places to Visit for a summer vacation. (June 2008)
• Esquire Magazine listed Austin's Deep Eddy Cabaret the 2nd Best Bar in the Country. Five other Austin bars made the list. (May 2008)
• Austin is listed as the #1 Memorial Day Getaway by ShermansTravel.com. (April 2008)
• Trip Advisor's Travelers' Choice lists Austin among its favorite destinations in the United States. (April 2008)
• Orbitz.com lists Austin as one of the country's Top Six Movie Landmark Destinations. (March 2008)
• Austin is the #1 city in America to live and make movies, due to its industry infrastructure and "film friendly" attitude. (MovieMaker magazine, January 2008)
• Austin and the Texas Hill Country rank #2 on Orbitz.com's list of the top Ten Fastest Growing Wine Regions. (September 2007)
• National Geographic Adventure names Austin as Texas' #1 Adventure town in their list of "50 Best Places to Live & Play." (September 2007)
• Sherman's Travel lists Austin at #5 among its Top Ten Easy Spring Getaways. (May 2007)

LIFESTYLES AND RECREATION
• Austin is among the Top 10 Cities to Live, Work and Play due to its strongeconomy, growing population and natural beauty. (Kiplinger's Personal Finance, 2008)
• Austin Ranks in the 10 Best Places to Live and Boat (Boating Life Magazine, July/August 2007)
• Men's Journal names Austin as one of the top five places to "embrace urban life." (April 2007)
• Austin ranks #2 on Prevention Magazine's list of the Top Ten Cities for Taking a Stroll. (March 2007)
• Austin is ranked #17 among Cooking Light's Top 20 Healthiest Cities in America. (January/February 2007)
• Austin's perfect weather and great courses helped the city to be named #1 Golf City in America on CNN's golf.com.(November 2007)
• Pollstar names Austin City Limits Music Festival the "Festival of the Year" during it's annual Concert Industry Awards, (February 2006)

There you have it! We LOVE You Austin!!

Austin Accolades

2009-08-09T09:50:00.000-07:00

If you are thinking about relocating to Austin, Texas (one of the greatest cities-in my opinion) below are a few positive attributes of our "weird" home town!

Whether you are nearing retirement, a college student or anywhere in between, there is a place for you here in Austin's eclectic culture. I've personally never lived in a more vibrant, inspiring and accepting city!

AUSTIN AND CENTRAL TEXAS IN THE NEWS - 2009 ACCOLADES

• Austin is the 3rd Strongest Metro Economy in the Country. (Brookings Institution, 6/16/09)

• Austin ranked Best City for Recession Recovery. Austin’s diverse economy, home to Dell, the University of Texas and the Texas state government, has kept the economy strong. (Forbes, 6/10/09)

• Texas Ranked No. 1 for Business. Texas nabbed the No. 1 spot due to its ability to attract Fortune 500 companies, its solid economy, affordable cost of living and its pro-business tax climate. (Directorship, 6/1/09)

• Austin no. 7 Tech Center. Texas' Capital City is home to over 2,660 tech companies. (bizjournals.com , 5/11/09)

• Austin Chosen as one of Top 20 Places to Thrive. BestBoomerTowns.com has chosen Austin, Texas as one of its top places in the U.S. to thrive in retirement. (BestBoomerTowns.com, 5/7/09)

• Texas ranked 4th of Top 7 Tax-free Havens. No personal income tax, low business gross receipts tax (sole proprietors and general partnerships are exempt).Best Places to Live and Launch: Georgetown (No. 2),(CNNMoney.com, 5/09)

• Austin Best Bargain City in the U.S. Austin earned high marks across the board. "They have the triple-whammy of being a university town, a state capital and a technology center,". (Forbes, 5/09)

• Austin is a City of the Future. fDi Magazine ’s North American Cities of the Future 2009/10, ranks Austin No. 5. Seven categories were used to determine the winners: economic potential, human resources, cost effectiveness, quality of life, infrastructure, business friendliness and promotion strategy. (fDi Magazine, April/May ‘09)

•Texas is Tops in Production of Wind Power. Texas leads in wind capacity and largest wind farms installed (6 of the nation’s top 10). More new wind capacity was added in Texas during the year than in any country except China and the U.S. If Texas were a country, it would rank
sixth in the world, behind Germany, the rest of the U.S., Spain, China, and India. (American Wind Energy Association, 4/13/09)

• Austin named no. 1 Big City for Jobs. Of the 10 large cities with the best employment prospects, Austin is the leader. Austin also was named the 6 th best city for jobs in the overall ranking. (Forbes, 4/12/09; also New Geography, 4/15/09)

• UT's McCombs ranks 18 th among nation's Best Business Schools. According to U.S. News & World Report, 82.4% of McCombs' 2008 graduates were employed full-time as of graduation. (U.S. News & World Report, 4/12/09)

• Texas ranks 13 th Happiest State. (Mainstreet.com, 4/6/09)
• Texas is the nation's 2 nd Largest Cyberstate. Texas remains the second-largest cyberstate by tech employment, behind California and ahead of New York. (TechAmerica, 3/31/09)

• Forbes.com Ranks Austin the 8th Best Place for Business and Careers (Forbes.com, 3/27/09)

• Texas voted Best for Business by Chief Executive. Texas was ranked No. 1 on the magazine’s list, based on surveys done by 543 CEOs,
for the fourth straight year. (Chief Executive, 3/25/09)

• Austin & Raleigh are Fastest-Growing Metro Areas. Raleigh-Cary, N.C., and Austin-Round Rock, Texas, were the nation’s fastest-growing metro areas between 2007 and 2008. The Austin metro saw its population climb 3.8% between July 2007 and July 2008, to 1.7 million. The Austin metro area was the location of the sixth fastest growing county (with over 10,000 population), Williamson, as well as 10th-ranked Hays
County. (U.S. Bureau of the Census, 3/19/09)

• Austin-Bergstrom International among Top Performing Airports. Austin-Bergstrom International Airport (ABIA) ranked 3 rd in North America (the top 2 being Canadian airports). Additionally, ABIA ranked 3 rd for its size (5-15 million passengers) among airports around the
globe. (Airports Council International , 3/10/09)

• Austin named no. 2 Healthiest Housing Market for 2009. While other markets lost employment, Austin added 17,400 jobs last year, 2.3% growth rate. It helps that Austin is home to both a major university, The University of Texas, and the state capital. (Builderonline.com, 2/17/09)

• Austin named one of America’s Top 30 Most Wired Cities. Since 2007, Forbes has measured cities' wired quotient by computing the percentage of Internet users with high-speed connections and the number of companies providing high-speed Internet. Since many urban residents access the Internet by wi-fi, we also measure the number of public wireless Internet hot spots in a particular city. (Forbes.com, 1/22/09)

• Austin named one of 15 Coolest North American Cities. Famous for Tex-Mex food and its eclectic music scene, bustling Austin is also the capital of the Lone Star state. Many visitors find its laid-back atmosphere especially appealing. (MSN Travel, 1/22/09)

• Austin named one of America’s 25 Strongest Housing Markets. "Texas has the best large-state economy in the country right now," says Mark Zandi, chief economist for Moody's Economy.com.(Forbes, 1/7/09)

• Texas ranks 4th on a new list of Best States to Start a Business. (U.S. News & World Report, 1/6/09)

Let me know if you'd like a free, customized Austin home search.

Cortney Zieky, REALTOR
(512) 779 5396

Top 10 Cities With Most Price Reductions

2009-08-07T06:59:00.000-07:00

Austin is ranked #9 among the top 10 cities with the most real estate price reductions!

See full article
REALTORÃ‚Â® Magazine-Daily News-Top 10 Cities With Most Price Reductions

Shared via AddThis

Cortney Zieky, REALTOR

http://www.cortneyziekyhomes.com/Home_Search/page_163207.html
START YOUR HOME SEARCH!

Tips for Parents Buying Homes for their Children

2009-08-06T07:01:00.000-07:00

The article below has useful tax advice for parents buying homes for their children.
It's become a fairly popular notion with parents who have children in college, as rent on campus becomes more expensive.

What are your thoughts?

REALTORÃ‚Â® Magazine-Daily News-Tips for Parents Buying Homes for Children

Shared via AddThis

Cortney Zieky, REALTOR
cortney.zieky@gmail.com
cortneyziekyhomes.com

August in Austin!

2009-08-05T06:46:00.000-07:00

Athletic Activities:

8/6 Moonlight Margarita Run 5K
www.runtex.com/web/4-2.asp

8/15 5K for Clay Round Rock, TX
www.runtex.com/web/4-2.asp

8/22 8th Annual Deep Eddy Austin, TX
www.runtex.com/web/4-2.asp

8/22 Austin Bat Run 5K Austin, Texas
www.runtex.com/web/4-2.asp

8/29 Pure Austin XTERRA Austin Off Road Triathlon Austin, Texas
www.runtex.com/web/4-2.asp

Theatre/ Austin Culture

Music Man Zilker Hillside
Theatre 2201 Barton Springs Rd.
http://www.austin360.com/

8/6-7 Ottmar Liebert
One World Theatre
http://www.oneworldtheatre.org/

8/11-15, 8 pm 8/16, 3 pm
The Wonderbread Years Starring Pat Hazell Rollins Studio Theatre
http://www.thelongcenter.org/

8/21
Larry Gatlin One World Theatre
http://www.oneworldtheatre.org/

5/31-8/23, 7:30 pm Sunday evenings
Hartman Foundation Concerts in the Park Hartman Concert Park at the Long Center
http://www.austinsymphony.org/

8/30, 11 am - 5:30 pm
Austin Chronicle Hot Sauce Festival 12th and Red River
www.austinchronicle.com/gyrobase/Market/HotSauce

8/22Helping Austin Gala
Austin Music Hall
http://www.helpingaustin.org/

Enjoy!

Cortney Zieky, REALTOR
(512) 779 5396
cortney.zieky@gmail.com
http://www.cortneyziekyhomes.com/

Buyers Should Not Wait on Falling Prices

2009-08-05T06:42:00.001-07:00

If you haven't decided if now is a good time to buy, this article offers a few points that may help your decision.
Let me know if I can help.

REALTORÃ‚Â® Magazine-Daily News-Buyers Shouldn't Wait on Falling Prices

Shared via AddThis

45 Lessons of Life

2009-07-30T09:44:00.000-07:00

45 Lessons of Life

Thanks to Jim Gentil - Mr. Positive for the content below.
He continues to assist me put things into perspective with his weekly column!
I bolded my favorites.

1. Life isn't fair, but it's still good.
2. When in doubt, just take the next small step.
3. Life is too short to waste time hating anyone. It only makes you sick, not them.
4. Your job won't take care of you when you are sick. Your friends and parents will. Stay in touch.
5. Pay off your credit cards every month.
6. You don't have to win every argument. Agree to disagree.
7. Cry with someone. It's more healing than crying alone.
8. It's OK to get angry with God. He can take it.
9. Save for retirement starting with your first paycheck.
10. When it comes to chocolate, resistance is futile.
11. Make peace with your past so it won't screw up the present.
12. It's OK to let your children see you cry.
13. Don't compare your life to others. You have no idea what their journey is all about.
14. If a relationship has to be a secret, you shouldn't be in it.
15. Everything can change in the blink of an eye. But don't worry; God never blinks.
16. Take a deep breath. It calms the mind.
17. Get rid of anything that isn't useful, beautiful or joyful.
18. Whatever doesn't kill you really does make you stronger.
19. It's never too late to have a happy childhood. But the second one is up to you and no one else.
20. When it comes to going after what you love in life, don't take no for an answer.
21. Burn the candles, use the nice sheets, wear the fancy lingerie. Don't save it for a special occasion. Today is special.
22. Over prepare, then go with the flow.
23. Be eccentric now. Don't wait for old age to wear purple.
24. The most important sex organ is the brain.
25. No one is in charge of your happiness but you.
26. Frame every so-called disaster with these words 'In five years, will this matter?
27. Always choose life.
28. Forgive everyone for everything.
29. What other people think of you is none of your business. Who cares what they think anyway.
30. Time heals almost everything. Give time, time.
31. However good or bad a situation is, it will change.
32. Don't take yourself so seriously. No one else does.
33. Believe in miracles
.34. God loves you because of who God is, not because of anything you did or didn't do.
35. Don't audit life. Show up and make the most of it now
.36. Growing old beats the alternative -- dying young.
37. Your children get only one childhood.
38. All that truly matters in the end is that you loved
.39. Get outside every day. Miracles are waiting everywhere.
40. If we all threw our problems in a pile and saw everyone else's, we'd grab ours back.
41. Envy is a waste of time. You already have all you need.
42. The best is yet to come.
43. No matter how you feel, get up, dress up and show up.
44. Yield.
45. Life isn't tied with a bow, but it's still a gift.

Hope this lifted your spirits! Enjoy your day!

Cortney Zieky

Article: Home Buying Surge Signals Easing of 3 Year Slump

2009-07-29T09:39:00.000-07:00

The Austin American Statesmen featured this article yesterday.

The "local" takeaway: Austin's market for new homes is starting to rebound.
There is currently only a three-month supply of new homes on the market as builders have reduced their production.
The shortage of new homes has led to a pickup in the resale market, which had its best month in a year in June.

Read full article:
http://www.statesman.com/search/content/news/stories/nation/2009/07/28/0728econ.html

What do you think? Is now a good time to buy a home in Austin?

Homebuyer Tax Credit Expires Dec 1st!

2009-07-28T09:05:00.000-07:00

New tax credit provides opportunity for first-time homebuyers.

In an effort to stimulate the economy and help the housing market, the federal government has enacted new legislation providing a tax credit of up to $8,000 for first-time homebuyers. Below are some of the key highlights of this program:

For first-time homebuyers only. Qualifying homebuyers have not owned a principal residence during the three-year period prior to the purchase.
Amount of tax credit. The credit equals 10 percent of the home’s purchase price, up to a maximum of $8,000, whichever is less.
Limited time only. The tax credit is available for homes purchased on or after January 1, 2009, and before December 1, 2009.No repayment required. Unlike the previous tax credit, this tax credit does not have to be repaid, but homebuyers must use the residence as a principal residence for at least three years or face recapture of the tax credit amount.
Tax credit is refundable. This means the homebuyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. A refund check may be issued to the taxpayer for a portion or even all of the refundable tax credit (depending on the taxpayer’s tax liability).
Income restrictions. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. (Partial tax credits may be available for taxpayers with incomes over the above limits.)
2008 tax returns. The tax credit can be claimed on 2008 federal income tax returns if the home was purchased on or after January 1, 2009

Inventory in the area is beginning to shrink....and technically you only have 4 more months to take advantage of this program. Call me today to begin your customized home search!

Cortney Zieky, REALTOR

Exit Realty Associates

Direct: 512-779-5396

http://www.czieky.exit620.com/ SEARCH LISTINGS

Energy Saving Tips

2009-07-25T06:00:00.000-07:00

I know most of us are trying to reduce our monthly expenditures, so I thought this information would help you reduce your monthly energy usage...
Something we all should be striving for!

Heating/Cooling

Install plug outlet covers on unused outlets. About 20% of the air that escapes your home escapes through outlet openings
Inspect insulation to make sure it's not blocking ducts or vents. Blown-in insulation can settle over time and may need to be fluffed up or increased
Set your thermostat & do not adjust. For every degree you raise or drop the temperature, you add 3% to the bill.

Lighting

Turn off lights when leaving a room
Change your bulbs to fluorescent. They use 70% less electricity than regular light bulbs, give off five times more light, emit 90% less heat and last 10 times longer

Refrigerators & Freezers

Set the temp between 36 degrees and 38 degrees. Freezer temps should be between 0 degrees & 5 degrees
Thaw frozen foods in the refrigerator rather than on a counter top. Frozen items will help cool the refrigerator as they defrost and help reduce its running time
Freezers work best fully loaded, but leave enough room for air to circulate
Make sure the doors seal properly

Appliances

Wash/full dry loads of clothes and use cold water whenever possible
Never put lamps, TV's and other heat generated gadgets beneath a wall mounted thermostat. Rising heat from these appliances will trigger your conditioning system to overwork.

Was this helpful?

What are other ways you reduce your monthly energy usage?

Summertime guide to Entertaining in Austin

2009-07-21T10:03:00.001-07:00

The summertime is a great time to take time to recharge your energy through exciting & engaging activities, and there's nothing quite like a warm weather gathering in your backyard to bring the fun back into life!!

Here are some simple, inexpensive ways to enjoy your summer and make your outdoor gathering colorful, easy & fun. KEEP IT SIMPLE!- The party should be fun for you too!

Detailed Decorating:

Light up the party area with clear mini lights. String them from trees, arrange them on the buffet table or frame your deck. I'm sure you have these in your garage left over from Christmas.
Stock refreshments in copper or colored beverage tubs or a wheelbarrow. That way you can enjoy your guests instead of bar tending
Use hurricane lanterns or cylinder vases with pillar candles for your mood setting centerpieces. Cylinder vases can be filled with rocks, sand, or coffee beans for added wow factor.
Consider a theme party--It will help you create a memorable event! Ex) Picnic theme, Hawaiian Luau, Fiesta theme. Have fun with it!

Cuisine:

Have a second grill on hand and enlist a 2nd chef
Two or more food/beverage stations will help with the party's flow
Keep the salad cool by placing the bowl in a larger bowl if ice.
Place all food/beverages under a tent or a tree
Have plenty of water on hand.

**Remember to have insect repellent & sunscreen on hand. It is summer in Austin after all :)

Are you selling in a "Starter Home" market?

2009-06-26T13:01:00.000-07:00

If you've recently listed your home in an area that attracts First Time Home Buyers...
You're in luck!

With the $8,000 tax credit, surplus of inventory & reduced home prices, many first time home buyers are beginning to shop for their first home. Don't miss out on the action!

First-time home buyers are wary of overpaying and skeptical about buying homes in need of improvement.

A survey for Coldwell Banker last year found that 81 percent of first-time buyers said move-in conditions were very important. Only 7 percent were willing to consider fixer-uppers that they could buy cheaply.

According to Coldwell Banker Associated Brokers in Southern California, these are ways to lure a first-time buyer:
1. New paint, decluttering, and removing odors are very important, but don’t urge too many expensive modifications.
2. Offer to pay closing costs.
3. Provide a home warranty.
4. Make a counteroffer, even if the first offer is really low-ball.

Let me know if I can list & market your home. From my experience of working with first time home buyers, I have a keen sense of what they are looking for!
Call me for your Complimentary Market Analysis & Marketing Program

Cortney Zieky, REALTOR
Exit Realty Associates
(512) 779 5396

Source: The Wall Street Journal, Amy Hoak, (06/16/2009)

10 Cities Most Likely to Bounce Back Quickly - Austin, Texas #1

2009-06-25T19:55:00.000-07:00

Some cities are likely to recover more quickly from the housing downturn than others. Forbes magazine has identified the top 10 cities that it believes are poised for recovery by examining unemployment figures, projected gross domestic product from Moody’s Economy.com, and housing affordability data from the National Association of Home Builders.
Overall, cities most likely to recover first are those with strong technology capabilities.

Here is Forbes’ top 10:
Austin-Round Rock, Texas
Fayetteville-Springdale-Rogers, Ark.
Boulder, Colo.
Huntsville, Ala.
San Antonio, Texas
Mobile, Ala.
Dallas-Fort Worth-Arlington, Texas
Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va.
McAllen-Edinburg-Mission, Texas
Seattle-Tacoma-Bellevue, Wash.

Source: Forbes, Joshua Zumbrun (6/10/09)

Let me know if I can assist you with your move to Austin! I'd love to show you around.
Call me for your no obligation consultation.

Cortney Zieky, REALTOR
Exit Realty Associates
Direct: 512-779-5396
http://www.czieky.exit620.com/ SEARCH LISTINGS
http://cortneyzieky.blogspot.com/

Summertime...and the Buying is Easy in Austin, TX?

2009-06-23T14:42:00.000-07:00

The home buyer tax credit seems to be working – pending home sales are up for a third month in a row. But there are challenges ahead:
1. Mortgage interest rates rose in May.
2. The tax credit is currently due to expire at the end of November.

Does that mean we’ll have a rush of homebuying activity this summer?

NAR Chief Economist Lawrence Yun comments on the latest developments in the housing market, as well as providing us with a “modest proposal”....

READ MORE
Lawrence Yun, NAR Chief Economist

Cortney Zieky, REALTOR
Exit Realty Associates
Direct: 512-779-5396
http://www.czieky.exit620.com/ SEARCH AUSTIN LISTINGS
http://cortneyzieky.blogspot.com/
OH! By The Way, I'm never too busy for your referrals!

Think Positive!

2009-06-22T19:41:00.000-07:00

During these economic times it can be difficult to be grateful for what you have..
Take it from me- There are days in my life when it's easier to think about all of the negative occurrences, and to play victim.... (Hello real estate market!).
I've learned that negativity loves company... so you will always find someone to complain to & with... Don't fall into this never ending cycle!

Now is the time to re-focus your energy towards a positive daily outlook!
When you think & act positively.. good things will happen to you.

Here are ways to re-shape your attitude in your daily life.

3:1 Ratio:
Whenever something goes wrong, challenge yourself to find 3 good things about the situation. By identifying positives about a situation that might otherwise be considered a problem, you will train your mind to search for the good!

Gratitude Box:
Start a "thank you box". Whenever you feel grateful for something a spouse or friend or family member has done for you, write it down and put it in the box!
Read them on Monday's to ensure you have a positive week!

Journal:
Record 5 things you are thankful for each day. I promise you will notice a huge difference in your attitude.
When you treasure the small things in life, you are able to let go of the negative BS.

How do you stay positive?

Ten Thoughts on Whole Living

2009-06-21T19:37:00.000-07:00

Stress Can push your internal resources to the breaking point. Make time to unwind

Your core supports the whole body. Explore ways to keep it strong!

Just because a task is important doesn't mean it can't be fun (I LOVE that one)

Missteps are part of any process. Stay focused on where you're headed.

Cultivate the art of knowing when to move on

Don't shrug off compliments; honor and remember them

Resist the urge to over analyze every experience. Live each moment instead

With herbs, nature shows us that health and flavor go hand in hand.

Let pleasure expand your perspective

Make this the day you stop dreaming and start doing.

Happy Fathers Day!!!

Inexpensive ideas to spice up your home!

2009-06-20T09:52:00.000-07:00

Let's face it, home improvement projects aren't easy on your wallet...
Now is probably not the best time for most to spend extra money on home maintenance.

If you are looking for inexpensive ways to polish up your home, keep reading :).

1. Buy new towels for the bathroom
2. Upgrade your outdoor lighting. (Mix and Match with what's no sale.. as long as you stay within the same material and color palette it will look cohesive).
3. Install new doorknobs and cabinet handles. (Depending on your interior style, these can look fresh when mixed and matched in an eclectic way!)
4. Buy a new mailbox
5. Buy color coordinated pillows for your sofa & bed
6. Replace your door mat
7. Place fresh flowers on tables
8. Purchase new shower curtains (Bed Bath & Beyond often has these on clearance)

6 Ways to Feel Happier Instantly!

2009-06-19T07:29:00.000-07:00

I read this article in Glamour Magazine and loved it, so I had to share!!

1. Have a cookie before noon or a drink before 5:00p. You REBEL you!

2. Overtip!!

3. Smile. Fake happiness always ends up feeling at least a little like the real thing

4. Resist: the $250 shoes, the third doughnut, the same old fight..
Sometimes happiness is about what you don't do.

5. Tell someone how much they are appreciated!

6. Think back one more time to heroic Sully, landing that plane gently and flawlessly on the Hudson River.

I hope this made your day just a little bit better :)

Thanks to Kimberly Bonnell & Pamela Redmond Satran for this article

Surviving The Market Slump; Austin Real Estate

2009-06-18T09:37:00.000-07:00

Austin was named THIRD of the top FIVE cities on the rebound from the real estate slump in a segment last month on NBC's "Today" show.

Real Estate expert Barbara Corcoran said Austin is "clearly on the rebound". You have a low cost of living rate and a very low unemployment rate (5.1%) along with great weather and friendly people..

Corcoran included cities on her list on the basis of eight factors:
1. Job growth potential
2. Growing population
3. Good Weather
4. First Time buyers
5. No overbuilding
6. Vital Downtown
7. Well Educated population
8. Foreclosures earlier than other cities.

Watch segment to learn more!

Now is an excellent time to start preparing to buy or sell real estate. If you have questions or need advice, just give me a call!

-Cortney Zieky

Cortney Zieky,
REALTOR
Exit Realty Associates
Direct: 512-779-5396
http://www.czieky.exit620.com/
http://cortneyzieky.blogspot.com/

More Help For First Time Buyers; Austin Real Estate

2009-06-17T09:24:00.000-07:00

Breaking News: State programs can be combined with federal tax credit!!

In comparison to many other states, Texas is surviving the economic downturn relatively well. It remains a great place to buy a home!

The Texas Department of Housing & Community Affairs has released $30 million in mortgage credit certificate authority through its Texas Mortgage Credit Program & Texas Veterans program.
These programs, designed primarily for first time home buyers make home ownership more affordable by providing a dollar for dollar reduction of a borrowers federal tax liability not to exceed $2,000 per year.
Under both programs, home buyers earnings up to 115% of the area median family income are eligible to deduct from their taxes 30% of their annual mortgage interest. A homeowner can claim tax credit yearly while occupying the property as a primary residence.
Learn More

State + Federal Credits combine for significant savings

You may be able to combine the $8,000 federal tax credit with the $2,000 state credit for a potential $10,000 credit for the first year!
As with most good things, there are fees requirements & regulations involved. ($75 commitment fee and 1% issuance fee upon closing, mandatory home buyer education course).

Let me know if you would like more information on either of these programs!!

Cortney Zieky, REALTOR
Exit Realty Associates
Direct: 512-779-5396
http://www.czieky.exit620.com/ SEARCH FOR YOUR FIRST HOME
http://cortneyzieky.blogspot.com/

Article & content provided by June issue of Texas Realtor- Michael Gerber

Best Cities for Recession Recovery- Austin #1

2009-06-16T10:05:00.000-07:00

1. Austin-Round Rock, Texas

Current GDP: $72.4 billion

End of 2010: $77.7 billion (projected)

Unemployment: 5.8%

From now to the end of 2010, the economy of Austin is projected to grow by $5 billion, and unemployment has stayed relatively subdued. The city's diverse economy, home to Dell, theUniversity of Texas and the Texas state government, has kept the economy strong. Forbes.com also recently ranked Austin the Best Big City for Jobs.

Read full story

**Image from The Trail of Lights at Zilker Park. One of the many community events in Austin, TX

Cortney Zieky, REALTOR

Exit Realty Associates

Direct: 512-779-5396

http://www.czieky.exit620.com/

http://cortneyzieky.blogspot.com/

OH! By The Way, I'm never too busy for your referrals!

June In Austin; Austin Real Estate

2009-06-16T07:57:00.000-07:00

One of the reasons I LOVE Austin... is that there is always something new, fun & interesting occurring in our city!
I thought I'd share some of our month's highlights!

June 17th
Blues on the Green
Waterloo Park
Click Here

June 25th
GREASE
TexARTS Kam and James Morris Theatre
http://www.tex-arts.org/

June 27th
Watermelon Thump 5k Fun Run
Click here

June 28th
New Belgian Urban Assault Ride
Fiesta Gardens
Click here

Round Rock Express Games
http://www.roundrockexpress.com/

2009 Summer film Series
The Paramount Theatre
http://www.austintheatre.org/

Let me know if I can assist with your Austin Real Estate needs!

Cortney Zieky, REALTOR
Exit Realty Associates
Direct: 512-779-5396
http://www.czieky.exit620.com/ SEE OUR LISTINGS
http://cortneyzieky.blogspot.com/
OH! By The Way, I'm never too busy for your referrals

Natural Swimming Pools in Central Texas

2009-06-15T09:57:00.000-07:00

Happy Summer!
Whether you're wanting some exercise, a relaxing soak, or a place to splash, Central Texas has the watery venue for a fun day in the sun! Don't forget the SPF.

Hamilton Pool30 miles west of Austin on FM 3238 in Hamilton Preserve(512) 264-2740 / www.co.travis.tx.us/tnr/parks/hamilton_pool.asp

Sculpture Falls on Barton Creeks. Mopac Expressway and Loop-360, Austin, TX Located 1.3 miles upstream of the Mopac bridge, this out-and-back hike begins midway along the Barton Creek Greenbelt
Emma Long Metropolitan Park on Lake Austin1600 City Park Rd, Austin, TX 78730(512)346-1831 / http://www.ci.austin.tx.us/parks/emmalong.htm

Barton Springs Natural Pool2101 Barton Springs Road (located in Zilker Park), Austin, Texas 78704 (512) 476-9044 / http://www.ci.austin.tx.us/parks/bartonsprings.htm

Krause Springs(830) 693-4181 / http://www.krausesprings.net/
Located in Spicewood, Texas approximately 30 miles west of Austin.

Sincerely,
Cortney Zieky, REALTOR
Exit Realty Associates
Direct: 512-779-5396
http://www.czieky.exit620.com/ SEARCH OUR LISTINGS!

Let me know if you have any questions about the Austin Real Estate Market. I'm happy to help!

Get Organized!

2009-06-12T09:46:00.000-07:00

If you are interested in using an excellent resource to help with your personal and professional schedule, you can get a free 30-day trial of Plan Plus Online. Plan Plus online includes tools to help you manage your appointments, relationships, messages and lists so you can stay on track.

Check it out

Cortney Zieky, REALTOR
Exit Realty Associates
Direct: 512-779-5396
http://www.czieky.exit620.com/ CK LISTINGS HERE
http://cortneyzieky.blogspot.com/
OH! By The Way, I'm never too busy for your referrals!

Mid Year Review

2009-06-11T09:25:00.000-07:00

So the year 2009 is nearly half way over. Can you believe it??

During this time, I usually set aside a day to reflect on my goals & my progress.
A) I review my daily/weekly/monthly activities over the past 6 months....Have my actions placed me closer to my goals? Do I need to re-adjust my activities in order to meet my goals?
B) I notice if my priorities or goals have shifted and adjust accordingly.

This is a post from January that I am using as a re-motivator for the rest of the year.
I hope it is helpful & inspiring for you!

Take Success & Prosperity One Day at a time in 2009!
Lao Tzu famously wrote, "A journey of a thousand miles begins with a single step". With today's fast-paced lifestyle, it's easy to discount this sentiment or become impatient when results don't occur instantly.
Making fundamental changes takes time, commitment and patience.

Here's how you can Win each day in 2009.
1. Focus on Your Goals
Use your long term goals to inspire you to set short term goals for each day/week that will lead you to your final goal.

2. Structure Your Day
Time blocking or scheduling is the most effective method of ensuring that you have enough time and focused energy to complete important tasks.

3. Take Action
You won't be able to win the day without action! Set your 2009 goals and put together a plan that will help you get there step by step.

4. Learn To Value Each Day!
In getting caught up in big goals, we often fail to understand all the little steps required along the way to get there. Each day represents an important piece of your ultimate goal and should be valued accordingly!

I hope your 2009 is filled with love, laughter and abundance!

Sincerely,

Cortney Zieky

10 Best Places to Live & Work!

2009-06-01T13:27:00.000-07:00

Where’s the best place to hide during this economic downturn?

Kiplinger’s Personal Finance magazine evaluated U.S. cities for their growth potential, analyzing their ability to hold onto jobs even if the economy softens further.

With assistance from Kevin Stolarick of Martin Prosperity Institute, the magazine concluded that cities where there are a lot of white-collar jobs are surviving the downturn better than areas where much of the workforce is employed in manufacturing or service jobs.

Stolarick says these creative-class jobs tend to help generate new businesses and that increases the vibrancy of the areas where they hold sway.This employment analysis combined with data about income growth and cost of living led Kiplinger’s to choose these 10 cities as the best places to live and work in today’s challenging economy

1. Huntsville, Ala.
2. Albuquerque, N.M.
3. Washington, D.C.
4. Charlottesville, Va.
5. Athens, Ga.
6. Olympia, Wash.
7. Madison, Wis.
8. Austin, Texas
9. Flagstaff, Ariz.
10. Raleigh, N.C.

Source: Kiplinger’s Personal Finance (07/2009

Don't Worry, Be Happy!

2009-05-25T11:27:00.000-07:00

After spending a relaxing weekend with my husband, I was really inspired by this article and thought I would share! Sonja Lyubormirsky auther of The How of Happiness explains why a positive attitude is good for you and your business.

As a "secret" reader/believer I couldn't agree more with her notions!

1. How is it possible to be happy when things seem to be going wrong at every turn?

Human beings are very resilient. We're really good at coping and doing things that dull pain.
It's called positive reappraisal.

What good can come of a bad situation? People often find that they can rise to the occasion and discover their strengths. Sometimes people re prioritize what's important to them, or they may learn a new skill. Ex) You can no longer afford to hire someone to make repairs round the house, so now you have to fix things yourself. You may discover you're good at it, or enjoy it!

2. In your book you say happier people earn more money, do better on the job and are healthier than unhappy people. Why?

Clearly there's a bidirectional relationship. Happiness leads people to be more successful in different domains of their life. Whey you're in a positive mood, you're more likely to be creative. Your immune system is stronger and it's easier to obtain clients.

People are more like able whey they're positive.

Positive emotions lead people to be more sociable.

3. You've said that unhappy people dwell on negative events. Should people stop overanalyzing their unhappy childhoods, stock losses or bad days on the job?

Yes, dwelling, ruminating and overthinking are passive, repetitive things.
It's not problem solving.

4. How do you savor the good things in life?

Writing your blessings in a journal

Say Thank You

Savor good thinks in life- Coffee, flowers, mornings

Have goals and take steps toward achieving them

Forgive

Exercise

SMILE!

What will you do to be the type of person who sees the glass as half-full?....

Look at the big picture. Be optimistic about the future, knowing that things will get better!

Color It Sold

2009-05-24T11:16:00.001-07:00

I came across this awesome article in Texas Realtor by Kate Smith. If your home isn't having the activity you would like while it's listed on the market, maybe this will help!
See Kate's blog: liveinfullcolor.com

How using paint colors effectively in four areas of a home can increase it's appeal to buyers

Color influences people at the subconscious level. It will entice a person to buy everything from diamonds to detergent. Retail consumers respond to color of a product before they even read the name on a package..
How does this relate to real estate? Home buyers are customers, and the listing is a product.
Here are 4 areas where you can use paint to improve your home's appeal.

1. Front Door
Adding color to the entrance makes a great impression with prospective buyers, even before they step inside. The color of the front door needs to create a colorful/inviting focal point.. Think Reds and warm earth tones.
Shades that are slightly less traditional like deep purple or teal blue are sophisticated and will stand out in a buyers mind.

2. Living Area
The traditional wisdom is to paint every wall in a home off white or beige. This is great advice for open, airy spaces with lots of light.
Some homes have rooms with little or no natural light. In these areas, light colors will emphasize the shadows and lack of light. A mid-range or dark color can help those shadows disappear and bring a dark room to life.
With color on the wall a room seems complete and move in ready.

3. Kitchen
Warmer colors like yellow, or terra cotta are good choices for kitchens, because they add warmth and comfort. Steer clear of bold or unusual colors in the kitchens.

4. Bathroom
Family or master bathrooms require a backdrop that is flattering for anyone who looks in the mirror. Colors like peach, beige & tan make just about everyone look good. Watery blues and aquas also work well, while greens & yellows seem to have the least overall appeal.

America's Best Bargain City!!

2009-05-22T06:08:00.000-07:00

Austin is #1 on the list according the Forbes Magazine!

Austin-Round Rock, Texas
Cost of Living: 3 of 50
Housing Opportunity: 24 of 50
Unemployment Rate: 1 of 50
Average Salary: 20 of 50

"Austin is the place where people pay the least to get the most" According the the study.

Let me know if I can assist you with your relocation needs.. The flood gates have opened! :)

Cortney Zieky, REALTOR
Exit Realty Associates
Direct: 512-779-5396
http://www.czieky.exit620.com/
http://cortneyzieky.blogspot.com/

OH! By The Way, I'm never too busy for your referrals

Housing Affordability Surges to Highest Level in 18 years!

2009-05-21T06:20:00.000-07:00

RISMEDIA, May 20, 2009-

Nationwide housing affordability jumped 10 percentage points during the first quarter of 2009 to its highest level since the series began 18 years ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).

The HOI showed that 72.5% of all new and existing homes sold in the first quarter of 2009 were affordable to families earning the national median income of $64,000, up from 62.4% during the previous quarter and up from 53.8% during the first quarter of 2008.

Underlying the increase in affordability are lower home prices and record low interest rates. Combined with the $8,000 federal tax credit for first-time home buyers, consumers are beginning to return to the marketplace.

For more information, visit www.nahb.org.

Austin is a Bargain!

2009-05-19T18:23:00.000-07:00

Austin's relative affordability and number of job opportunities has helped it rank first on Forbes.com's list of the nation's best bargain cities.

To determine which U.S. cities are the best bargains, Forbes.com looked at the country's 50 largest U.S. metropolitan areas. Researchers assigned cities points across four data sets: average salary for workers with a bachelor's degree or higher; annual unemployment statistics; cost of living; and the Housing Opportunity Index that measures the amount of homes sold in a given area that would be affordable to a family earning the local median income.

The other major Texas cities--Houston, San Antonio, Dallas and Ft. Worth--were also among the top 10 best bargains. But none come close to Austin where the 5.5 percent unemployment rate is the best in the country and about half the national average.

With interest rates in the 4% range, it's a great time to buy a home in Austin, TX!!

Source: Austin Business Journal

BIG Improvement to First-Time Buyer Tax Credit

2009-05-15T12:33:00.000-07:00

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.

Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Source: National Association of REALTORS

USDA, Rural Development Guaranteed Housing Loan

2009-05-01T06:51:00.000-07:00

Income guidelines – Austin MSA (Moderate Income)

1-4 Persons; 5-8 Persons
$84,300; $111,300

Advantages:
· No Down Payment Required

· 30 year fixed rate

· 102% LTV (100% plus guarantee fee)

· Finance Closing Costs If Appraisal Is Higher Than Sales Contrac

· No Mortgage Insurance

· No cash contribution required from borrower.

· Unrestricted gifts

· No Reserve Requirement

· Competitive rates

· Available secondary markets: wholesale lenders as well as Fannie Mae and Freddie Mac.

· Delegated underwriting for D.E. FHA, Fannie, Freddie, and VA approved underwriters.

· Utilize in Conjunction with State Housing Authorities, if available.

Credit score above 620

Property Eligibility – Homes must be located in rural areas. Rural areas include
open country and places with a population of 10,000 or less and-under certain
conditions-towns and cities with between 10,000 and 25,000 residents.
http://eligibility.sc.egov.usda.gov

For Additional Information: www.rurdev.usda.gov/tx

Bridal Registry

2009-04-30T06:45:00.000-07:00

Are you engaged and beginning to think about where to register?

Why not register for your down payment on your new home purchase?

Call me to learn how this program can help you buy your first home!

I look forward to working with you!

Cortney Zieky

Cities Where Home Values Could Continue To Drop

2009-04-29T12:48:00.000-07:00

With incomes falling and loans remaining hard to get, the best bargains are probably yet to come in some of the nation’s largest housing markets, predicts Forbes magazine.

To figure out which housing markets still haven’t hit bottom, Forbes calculated the spending power, unemployment, credit availability and housing stock over the last 27 years in the country’s 50 largest metropolitan statistical areas.

The projections determined how much each area’s home prices would have to change to bring that housing market into historical balance. Analysts said the employment rate is the great unknown. The more employment falls, the more likely home prices will follow.

Here are the 10 cities where Forbes believes prices are likely to continue to fall the most:
Orlando
Miami
Jacksonville, Fla.
Tampa
Los Angeles
Phoenix
Las Vegas
Oakland, Calif.
San Diego
New York

I think the fact that Texas (with it's huge size & scope) isn't listed at all shows what great shape our state is in! Even in a down market.

Source: Forbes, Matt Woolsey (04/17/2009

Home Sales Slip, But First Time Buyers Rise

2009-04-28T12:43:00.000-07:00

Existing-home sales eased in March but first-time buyers are responding to low mortgage interest rates and tax credits, according to the NATIONAL ASSOCIATION OF REALTORS®.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – declined 3 percent to a seasonally adjusted annual rate of 4.57 million units in March from a downwardly revised level of 4.71 million in February, and were 7.1 percent lower than the 4.92 million-unit pace in March 2008.

Lawrence Yun, NAR chief economist, said the market appears to be stabilizing with modest monthly ups and downs, and that first-time buyers are driving the market.

“The share of lower priced home sales has trended up, indicating a return of many first-time buyers, which we also see in a parallel member survey,” he said. “Sales in the upper price ranges remain stalled because of higher interest rates on jumbo loans.”

Although prices rose from February to March, the national median existing-home price for all housing types was $175,200, down 12.4 percent from March 2008.
The price increase from February to March was 4.2 percent, which is much higher than the typical 1.8 percent seasonal increase between those two months. Distressed properties, which accounted for just over half of all transactions in March, typically are selling for 20 percent less than traditional homes.

First-Time Buyers Drive Market

An NAR practitioner survey in March showed first-time buyers accounted for 53 percent of transactions, based largely on contracts offered before the $8,000 first-time home buyer tax credit became available. “Buyer traffic has been rising, and real estate offices are getting phone inquires about the tax credit,” Yun said. “By early summer we should be seeing a positive impact on home sales from record-low mortgage interest rates in addition to the stimulus provisions.”

NAR President Charles McMillan said first-time buyers are crucial at this stage of a housing recovery. “The housing market always heals from the bottom up, and with large numbers of first-time buyers entering the market it will become a little easier for sellers to trade up or down, according to their needs,” he said. “Although homeownership builds wealth over the long term, buyers need to evaluate their options. In this market, buyers and sellers who use a REALTOR® to represent them are making a smart move,” McMillan said.

Affordability Looking Good

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 5.00 percent in March from 5.13 percent in February; the rate was 5.97 percent in March 2008; data collection began in 1971.“Record-high housing affordability conditions are helping markets recover, with home sales higher than a year ago in Minneapolis, Northern Virginia, Las Vegas, Phoenix and most areas of California and Florida.”Total housing inventory at the end of March fell 1.6 percent to 3.74 million existing homes available for sale, which represents a 9.8-month supply at the current sales pace, compared with a 9.7-month supply in February.Single-family home sales slipped 2.8 percent to a seasonally adjusted annual rate of 4.10 million in March from a pace of 4.22 million in February, and are 5.7 percent below the 4.35 million-unit pace in March 2008. The median existing single-family home price was $174,900 in March, which is 11.5 percent lower than a year ago.Existing condominium and co-op sales fell 4.1 percent to a seasonally adjusted annual rate of 470,000 units in March from 490,000 in February, and are 17.8 percent below the 572,000-unit pace a year ago. The median existing condo price was $177,600 in March, down 18.7 percent from March 2008.

Regional Sales, Pricing Data

Regionally, existing-home sales in the Northeast fell 8.0 percent to an annual pace of 690,000 in March, and are 22.5 percent below a year ago. The median price in the Northeast was $231,700, down 18.4 percent from March 2008.

Existing-home sales in the Midwest were unchanged in March at a pace of 1.04 million but are 11.1 percent lower than March 2008. The median price in the Midwest was $141,300, which is 6.1 percent below a year ago. In the South, existing-home sales slipped 1.7 percent to an annual pace of 1.71 million in March and are 10.9 percent below a year ago. The median price in the South was $146,900, down 12.2 percent from March 2008.

Existing-home sales in the West declined 4.2 percent to an annual rate of 1.13 million in March but are 18.9 percent higher than a year earlier. The median price in the West was $252,400, which is 11.1 percent below March 2008.

Source: NAR

Is Economy Improving?

2009-04-17T11:53:00.000-07:00

Signs Point to Improving Economy

Economic observers point to several factors that indicate the economy in general and the housing market in particular may be on the mend.

Positive signs include:
● Sales of single-family homes in March remained flat compared to January and February at $358,000, the U.S. Commerce Department reported.
● The Labor Department reported claims were down in the week ending April 11. While some argued this could just reflect the shortened Easter/Passover holiday, others took the optimistic view that some segments of the economy are stabilizing.
● New-home construction remains low because there is so much inventory—but the situation doesn’t appear to be worsening."

The economy is still very weak, but there are some encouraging signs that support cautious optimism," Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, said in a speech Thursday.

Source: The Wall Street Journal, Sudeep Reddy (04/17/2009)

4 Questions Buyers are Facing

2009-04-16T12:53:00.000-07:00

1. Why are the prices of homes dropping substantially in today’s market?

Prices are dropping because of the anomaly that occurred during the market boom. Professor Karl Case of Wellesley College and contributing author of the Case-Schiller Home Prices Indices, a quarterly nominal housing price report, looked closely at the appreciation of median home value over five-year increments dating back to 1980 (see chart: "Appreciation Went Into Overdrive"). His research shows that home values appreciated 26.5 percent on average for the 20-year period from 1980 through 2000.

In the six years that followed, average appreciation was 89 percent. Prices are now adjusting to the inconsistent and unsustainable growth that occurred during the first six years of this decade. In other words, the market is not on the decline. Rather, it is moving toward stability, which will mean healthier markets in the future.

2. How do I determine the direction of prices in my market?

Although there are no steadfast rules to determine future pricing, months’ supply of inventory (total inventory divided by the number of houses sold per month) is a great guideline. A normalized or balanced market has five to six months of inventory. If 100 houses sell a month, there should be 500 to 600 houses in active inventory.

Based on this principle, if you have one to two months of inventory, double-digit appreciation is likely to occur. Lack of supply will cause potential buyers to clamor over the few homes that are for sale, which in turn drives prices higher. On the other end of the spectrum—where many markets are right now—there is a seven- to eight-month inventory. With this abundance of supply, there simply aren’t enough buyers to support the number of homes for sale.

Current economic conditions will also have an effect on the direction of pricing, as pricing is directly connected to average income. Traditionally, the national average sales price of a home is two-and-a-half times the average household income. Through the boom years of 2004, 2005, and even into 2006, that ratio was distorted, reaching up to four times the average income. We’re now getting much closer to the 2.5 ratio. However, with unemployment rising, prices may have to drop further to stay in line with the average American family income (see chart: "Lots of Listings = Depressed Prices").

3. Why should I buy now?

Any investment consideration, whether it be real estate, gold, or fine art, follows a predictable cycle with nine stages (see chart: "The Stages of a Market Cycle"). Let’s start with optimism, the period in which many people are excited about buying a home. When the market is strong, people’s purchases quickly increase in value, which leads to euphoria, which can lead to rash decision making.

From euphoria starts a downward cycle. As prices start to fall, buyers go into denial, with statements such as "I’ll be in the house a few years, so this won’t be a challenge." After denial comes fear, as prices continue to fall, followed by panic, despondency, and depression. After depression comes hope and then optimism (back to stage one).

The point of maximum risk for any investment is during the euphoria stage. The point of maximum opportunity is at the lowest point, between despondency and depression. That’s exactly where we are in many real estate markets today. Clients who are motivated and qualified to buy will be able to look at the market cycle chart and understand why now is the best time to invest in real estate.

4. Is homeownership really a good way to build wealth?

According to NAR, home values appreciate 4.5 percent annually on average. That’s a great return; however, very few buyers pay in cash. Most try to put as little cash down as possible. The amount of cash buyers put into their home determines their return on equity, which is the total return on the cash they initially invested. So the return on equity can be astronomical. It’s easy to see that real estate isn’t just a good investment; it’s a great investment.

Source: Steve Harney -Realtor Magazine

Great News for "NEW" Home Buyers

2009-04-14T10:18:00.000-07:00

If you have never owned a home or have not owned on during the last three years, this information is for you!
Below I will detail several programs to help you buy a home!

2009 Stimulus Plan
This is a tax credit granted to any single or married couple who buys a home between January and December 1, 2009.
The tax credit is for 10% of the purchase price of the home up to $8,000.
To qualify, your adjusted gross income must not exceed $75k (single) or $150k (joint).
The credit must be repaid if the home is sold within the first three years.

Travis County Housing Finance Corporation Standard Down Payment Assistance Program
This is a loan (up to $8,325.00) granted to any qualifying single or married couple to help with down payment costs.
Each year 20% of the loan is forgiven so that after 5 years, no repayment is required!!
If the home is sold before that, the balance of the loan must be repaid.
The home must be in Travis County, but not in Austin City Limits. The price of the home cannot exceed $219,450.00. There are income limits as well.

Texas Department of Housing and Community Affairs Below Market Mortgage Assistance & Down Payment Assistance.
This is a 30 year fixed mortgage with a reduced interest rate to help single or married couples qualify for a loan. It also offers 6% in Down Payment Assistance.
The targeted price of the home is not to exceed $289,750.00

If you are a first time home buyer, please give me a call. I'm here to assist you!

Cortney Zieky, REALTOR
Exit Realty Associates
(512) 779-5396

The Making Home Affordable Plan

2009-04-13T13:42:00.000-07:00

Guidelines for The Making Home Affordable Plan were published in March 09 by the Treasury Department.
The guidelines may be found at www.financialstability.gov

The plan includes 2 programs:
1. Home Affordable Refinance
2. Home Affordable Modification

The Home Affordable Refinance program is available for conforming loans owned by Fannie Mae and Freddie Mac. Contact your loan servicer to see if you are eligible.

The Home Affordable Modification program is also available only on owner occupied one-to-four family properties. This program may be available both to borrowers who are current on their mortgage payment and those who are delinquent.
It applies to loans originated before January 1, 2009 with unpaid principal of not more than $729, 750.00 on single family properties.

This program will end December 31, 2012.

Austin Events!

2009-04-11T13:24:00.000-07:00

I wanted to fill you in on some great Austin activities coming up this month!

For the sports enthusiast...
The Round Rock Express season has begun! Official site here.
4/25- Hill Country Ride for Aids. Sign up here.

For the music lover..
4/11 Pat Green with special guest Randy Houser at Nutty Brown Cafe. www.nuttbrown.com
4/16 Old Settlers Music Festival at The Saltlick Pavilion. www.oldsettlersmusicfest.org/
4/18 Bob Marley Reggae Festival at Auditorium Shores
4/25 Los Lobos at One World Theatre
4/28 Seal at Bass Concert Hall. www.utpac.org/event/seal
4/30 Sugarland www.uterwincenter.com

For Austin lover...
4/17 Texas Wine Country Wine & Food Festival
4/19 Austin's Earth Day Living Green Festival at Republic Square. www.austinearthday.com
4/25 Austin Fine Arts Festival on 5th/Guadalupe www.austinfineartsfestival.org

Come celebrate why Austin is such a great place to live!!!

Let me know if I can help you in the Austin Real Estate Market!

Cortney Zieky, REALTOR
Exit Realty Associates

A Smart Home is A Green Home

2009-04-11T06:19:00.000-07:00

One of the most important trends in modem home design is incorporating environmentally friendly amenities. A recent National Association of REALTORS survey of members showed there is an increased demand among potential homebuyers for homes with green features.

Here's a look at the green housing trends that Will not only bring an older home to the new millennium, but also attract younger buyers when it's time to sell your house.

Copper Roofs
These roofs tolerate inclement weather and will last 100 years versus a composition roof that lasts around 30 years. Copper elements can also be recycled.

Low-E Windows, Doors & Skylights
This glass lets in natural light but blocks the sun's UV rays that heat up the inside of a home. This glass will reduce energy consumption, and it's special low-E glazing also stops the Sun from fading fabrics and art work.

Chemical Free Lighting
LED lighting contains no hazardous chemicals, uses 80% less energy than a traditional incandescent light bulb and can last up to 20 years

Green Toilets
Green toilets conserve water (which can save you 30%-50% on your annual water bill) in different ways low-flow toilets use about 20% less water per flush.

Induction Cooktops
The coils of an induction cooktops release their energy directly to the pot or pan and it's contents. This means less energy is diffused in the cooking process.

Reclaimed Wood
Fast growing plants (bamboo) and unused pre-cut wood find new life as gorgeous, affordable counter tops. Cork flooring is a great alternative to hardwood because it is extremely durable yet inexpensive

Nontoxic Paint
To keep indoor air clean and cut down on landfill pollutants, use paint that doesn't contain toxic volatile organic components (VOCs).

5 Questions Foreclosure Buyers Should Ask...

2009-04-09T06:57:00.000-07:00

1. Is now a good time to buy a foreclosure?

This is a very common question from both real estate professionals and prospective buyers.
Answer.. It depends... There are questions buyers in any market should be asking before they make an offer on a property in foreclosure.

2. What is the first step buyers need to take?

Buyers should be preapproved for a loan before shopping for a foreclosure. If you are thinking of buying a foreclosure as a second home or investment, understand that financing will be a little more difficult and expensive than financing a primary residence. (Lenders typically charge higher interest rates and require a larger down payment for investment purchases).

3. How can you tell a bad foreclosure from a good one?

Making a sound deal can be tricky. Buyers need to be wary of unpaid liens, including mortgage debt, taxes, construction loans, home equity lines of credit and possibly a second or third mortgage.
Any or all of these financial obligations could become your financial obligation when you purchase a property in foreclosure. Unless the property goes through a foreclosure auction and becomes Bank owned REO, the outstanding foreclosure liens and fees could be transferred to the new owner.

4. If I'm a qualifying borrower, can I appeal to banks for better loan terms?

Many banks will offer a below-market rate loan on a bank-owned home. Unlike paying down with points, this doesn't cost any fees.

5. How does choice of neighborhood affect foreclosure investments?

Clients looking for a good investment should generally avoid neighborhoods overrun with foreclosures, particularly newer subdivisions in overbuilt areas.
Look in well established neighborhoods with rated school districts and transportation access.

Source: James J. Saccacio, chief executive officer of Realty Trac

How High Tech is Your Home?

2009-04-09T06:15:00.001-07:00

If the latest technology or entertainment options are important in your next new home, add the following questions to your checklist.

1. Are there enough jacks in every room for your cable TV and high speed Internet hook ups?
2. Are there enough telephone extensions or jacks?
3. Is the home pre-wired for a home theater or multi room AV system?
4. Does the home have a local area network (LAN) for linking computers?
5. Does the home already have wiring for DSL or another high speed Internet connection?
6. Does the home have multi-zoning heating & cooling controls with programmable thermostats?
7. Does the home have multi-room lighting controls, window covering controls or other home automation features?

Check out www.hightechhomemag.com for the latest high-tech products or services!

Hope this helps you to design a living space that meets all or your needs.

Cortney Zieky,

Low & Medium-Cost Green Upgrades For Your Home

2009-04-08T18:50:00.000-07:00

Low-Cost Upgrades & Features

Use CFL or LED light bulbs
Install low-flow shower heads, toilets and faucet aerators
Start a compost pile
Plant trees
Insulate water heater
Add weather stripping and apply caulk to doors and windows
Collect rainwater to water plants
Use paint with low VOC paint
Replace air filters
Plant native species
Install motion sensors to turn off lights when not in use
Provide recycling bins

Medium-cost upgrades & features

Conduct an energy audit. (Becomes mandatory for homes in Austin City Limits in June 09)
Tune up HVAC
Replace carpet with no-VOC style flooring
Install tankless water heater
Insulate attic and other areas
Consider drought-resistant landscaping
Install window shading to manage heat loss
Buy recycled products
Hire a consultant to conduct an assessment of lighting and heating and cooling systems for potential building upgrades and retrofits
Provide a bike room to encourage environmentally friendly commuting
Replace windows with double pane, low-e models
Energy Star appliances

Who is the Green Buyer?

2009-04-08T06:33:00.000-07:00

As with any real estate transaction, the green buyer, tenant, owner or seller is motivated by a variety of different factors. However, these individuals can be categorized into one of seven general types.

Which one are you???

1. Economizers
These people are interested in saving on operating costs through resource management.
EX) Baby Boomers who have experience tracking monthly energy and utility costs over time may think a green home is the best way to control increasing costs and manage their budget.

2. Investors
These individuals are interested in life cycle cost analysis and the value proposition of various green features.
EX) Someone looking to remodel or retrofit existing homes with green features in order to ultimately command a higher asking price.

3. Health Conscious
These consumers are looking for potential health benefits of green living.
EX) Someone who has allergies may think a green home will help prevent allergic reactions and improve overall health. Similarly they may believe that a green home/building will increase productivity due to better lighting and indoor air quality.

4. Idealists
These people believe that conversation of resources for future generations is a social responsibility. They're truly committed and passionate about green living, and willing to sacrifice for green lifestyle choices by minimizing their carbon footprint.
EX) Collecting rain water for landscaping, growing their own food. etc.

5. Lifestyle-focused
These individuals think that living by principles of overall sustainability contributes to a more meaningful and comfortable lifestyle.
EX) Someone who thinks close proximity to public transportation or living by open space a priority.

6. Eco-Chic
These people are interested n the status and prestige of green living. They may not truly subscribe to the green philosophy but are interested in being involved or owning the latest green feature. i.e. Someone who values the idea of living in a green-certified home.

7. Skeptical/Unaware
These consumers are skeptical of the green hype or unaware of the benefits of green homes.

When working with a REALTOR to buy or sell your next property make sure you communicate your "high priority" features and factors when it comes to green living. It is easier to serve clients when we understand their Green motivation!

Let me know if I can assist you in the Austin Real Estate Market.

Thanks to greenresourcecouncil.org & Texas Realtor Magazine for the content in this post.

Forbes Ranks Austin Among Best Places for Business and Careers

2009-04-06T15:35:00.000-07:00

In a recent March story, Forbes.com ranked Austin No. 8 on the list of Best Places for Business and Careers!!!

Austin jumped 39 spots compared to last year's rank of No.47. The study explored 200 metropolitan cities and examined each on 11 different criteria. Factors such as subprime mortgages, job growth over the past five years and employment projections for 2011 played a major role in improving the city's status.
Cities in front of Austin included Raleigh, N.C., Fayetteville, Ark. and Lincoln, Neb. While no metropolis can escape damages of the current recession, this study is a good indicator of the ones expected to turn around the quickest.

Maybe their is light at the end of the tunnel? :)

Top 10 Reasons to Buy a House Now!

2009-04-03T12:04:00.000-07:00

The combinationof low interest rates and decreased housing prices represents a great investment opportunity!

1. Selection – Homes are available in every area and
at all price ranges. The quantity of houses on the market
allows you to pick and choose the qualities you want to
find just the home you want. It wasn’t so long ago that
buyers were jumping on new listings as soon as they
came onto the market, that is no longer a concern for buyers
in this economy.

2. It’s a buyer’s market – The best time to buy is
when most people want to sell. If you buy now you can
get a lot more house for your money, and you have a lot
more negotiating power.

3. Homes are more affordable - Real estate, which
was overpriced during the housing bubble, has returned
to earth. That's especially good news for first-time home
buyers who were priced out of the market four or five
years ago.

4. Interest rates are low – Mortgage interest rates
are at their lowest point in the last several years. This
means your mortgage payment takes you a lot farther
than it did before. We’re not that far off of the all time lows
we hit several years back. It is smart to take advantage of
the low mortgage rates while they are still available.

5. Tax savings – Buying a home is one of the best
ways to save money on taxes. Your mortgage interest,
real estate taxes and in many cases mortgage insurance
are all tax deductible. If you are a first time home buyer
this means that after-tax, you can pay a lot more for a
mortgage payment than you pay for rent.

6. Appreciation– This might not seem like the best
reason to buy, with prices stagnating and falling in some
areas, but in the long run, home prices always move up.
There is a lot of pessimism in the real estate market today,
but even the most pessimistic are bullish in the long run.

7. Equity build up– As you pay down your mortgage
you build up equity in your home. Most people
don’t even think of this because it is so gradual, but every
mortgage payment (as long as it is an amortizing loan)
pays a little less interest and a little more principal. In a
way owning a home is a form of forced savings.

8. Rents are rising – Buying a home means you
can fix your mortgage payment, at least the principal and
interest portion. Rents are projected to rise this year and
over time.

9. Lots of homes are Move-In Ready - In order to
sell a home in a tough buyer’s market, sellers have to put
their best foot forward. This means sellers will paint,
landscape, and do any necessary repairs to make their
homes look the best as compared to their competition.
For a buyer this means, you are getting a nice looking
home with no maintenance issues to take care of.

10. Incentives - Buying in a buyer’s market gives
the buyer the upper hand. As a buyer, you may ask the
seller to sell you their washing machine, refrigerator
or pool table. In addition to material things, you can ask
the seller for a homeowner’s warranty, lawn or maid
service for six months to a year, etc.

I can help!!

Cortney Zieky, REALTOR
Exit Realty Associates
Direct: 512-779-5396
http://www.czieky.exit620.com/
www.cortneyziekyhomes.com

OH! By The Way, I'm never too busy for your referrals!

10 FREE Web Tools to Make Life Easier

2009-04-02T14:13:00.000-07:00

1. Mint.com
This secure financial management tool pulls data from your checking accounts, savings accounts, credit cards, mortgages, and other loans to help you track expenses.

2. Zenbe.com
Have multiple e-mail addresses? View all your mail in one inbox, and check in with Facebook and Twitter from the same screen.

3. GetDropBox.com
Back up your important documents and e-mail messages. This tool syncs with your computer to save documents and allows you to access them via the Web from any computer.

4. Everyscape.com
This alternative to Google Earth lets you view three-dimensional images of streets and cities at eye level.

5. Inhabitat.com
For home owners who want to go green, this eco-friendly design blog provides tips and inspiration.

6. Yelp.com
If buyers are new to the area, send them here. Neighbors review local restaurants, spas, doctors, plumbers, and more.

7. Billshrink.com
Discover hidden fees in your credit card accounts and cell phone bills, and get recommedantions for lower-cost alternatives.

8. GasBuddy.com
Do some comparison shopping before you fill up. Get a listing of what the gas stations in your area are charging per gallon.

9. FotoFlexer.com
Touch up your photographs, create effects, and adjust lighting to create high-quality images worthy for marketing materials.

10. DesignSpongeOnline.com
Do-it-yourselfers on a budget will love the easy home decorating projects and gift ideas.

Thanks to Katherine Tarbox, senior editor of REALTOR® Magazine for this article.

Expanded Refinance Opportunites under the Stimulus Plan!

2009-04-01T16:37:00.000-07:00

Monday April 4, 2009 will be the first day that we have the ability to begin reviewing our new refinance opportunities under the Stimulus Plan.

These new guidelines will allow for expanded loan to values, up to 105%. If the existing mortgage does not have mortgage insurance no new mortgage insurance will be required even if loan to value exceeds 80%. There is no minimum credit score on loan to values less than 80%, but there can be NO mortgage lates in the last 12 months. Primary residences, second homes, and investment properties are eligible if Fannie Mae already owns the loan. If you are unsure if Fannie Mae owns a loan, and want to look into it, please let me know and we will find out for you. Requirements for occupancy and review on condominiums are NOT required as long as Fannie Mae owns the loan. (Cash out refinances are not eligible.)

If you need to be referred to a Mortgage Professional please let me know!

Cortney Zieky, REALTOR
512-779-5696
cortney.zieky@gmail.com

Fed Plans Spark Drop in 30-Year Rates

2009-04-01T08:34:00.000-07:00

The average interest on a 30-year mortgage fell to a 38-year low of 4.85 percent during the week ending March 27 from 4.98 percent the prior week, Freddie Mac reported.

The decrease came on the heels of the Federal Reserve's announcement that it plans to purchase another $750 billion in mortgage-backed securities and up to $300 million in Treasuries. President Obama says refinancing is now possible for 40 percent of mortgages and encourages home owners to reap the benefits of the record-low rates.

Source: Boston Globe (03/27/09)

If you are thinking of refinancing, now is a great time! Let me know if you need to speak to a mortgage professional. I have a great referral source for you!

Cortney Zieky, REALTOR
(512) 779-5396

First Time Home Buyers Drive Home Sales

2009-03-31T08:54:00.000-07:00

Existing-home sales increased in February, reversing losses in January, according to the latest report by the NATIONAL ASSOCIATION OF REALTORS®. However, sales activity remains relatively soft, reflecting additional layoffs and buyers waiting for housing provisions in the economic stimulus package to take effect, according to NAR.

Existing-home sales— including single-family, townhomes, condominiums and co-ops—rose 5.1 percent to a seasonally adjusted annual rate of 4.72 million units in February from a pace of 4.49 million units in January. Existing-home sales are 4.6 percent below the 4.95 million-unit level in February 2008. Seasonal adjustment factors are more volatile in winter months, but sales rates over the past few months show dampened sales activity, according to NAR.

Lawrence Yun, NAR chief economist, says first-time buyers accounted for half of all home sales last month, with activity concentrated in lower price ranges.

“Because entry level buyers are shopping for bargains, distressed sales accounted for 40 to 45 percent of transactions in February,” he says. “Our analysis shows that distressed homes typically are selling for 20 percent less than the normal market price, and this naturally is drawing down the overall median price."

Home Buyer Tax Credit Increases Activity

NAR President Charles McMillan says home shopping activity has picked up with housing affordability at a record high.

“The number of buyers looking for homes rose 5 percent in February, and also was 5 percent above a year ago,” he says. “It appears most of the increase in buyer traffic occurred in the latter part of the month after the $8,000 first-time buyer tax credit was put in place. At the same time, mortgage purchase applications have risen, so we expect to see sales picking up around late spring.”McMillan notes that more potential buyers are learning about the tax credit, just as the traditional spring home-buying season begins.

I can't wait to assist with your home search!!

-Cortney Zieky, REALTOR
Austin, Texas

Survey: Households Say Now Good Time to Buy!

2009-03-30T08:49:00.000-07:00

More than three-quarters (78 percent) of potential first-time home buyers say that now is a good time to buy a home, despite widespread concern about the economy.

Out of the 1,000 prospective U.S. first-time home buyers surveyed in early March for the CENTURY 21 First-Time Home Buyer Survey, 68 percent think now is a better time to buy than six months ago.

Prices are the driving motivation for potential first-time home buyers with more than eight of ten first-time home buyers (85 percent) saying they consider current home prices affordable and 73 percent citing that taking advantage of current prices is a major factor in their decision to buy.

Interestingly, potential first-time buyers are still split between “being willing to consider an offer now” (42 percent) and “waiting for prices to go down before they seriously consider making a purchase” (48 percent).

“Current pricing, rates and incentives, such as the First Time Homebuyer Tax Credit, provide tremendous opportunities for first-time home buyers to get into the market,” said Tom Kunz, Century 21 Real Estate president and CEO. “Our research shows that while consumers still have concerns about the future of the economy, many are actively considering their options as we move into the spring selling season.”

Among the survey’s other key findings:

Bargains in the marketplace are providing additional options for buyers to consider. 56 percent of potential first-time home buyers are considering purchasing a foreclosed or short sale home, and 63 percent are open to purchasing either a “fixer-upper” or “as-is” home.
When asked to rate the features that they look for when choosing a home, price is the primary consideration with 87 percent saying this feature is “very important,” followed closely by neighborhood safety (80 percent) and the condition of the home (71 percent).
Having enough money for a down payment is a top concern of potential first-time home buyers as nearly half (46 percent) said they are “very worried” about the issue.
Most respondents (86 percent) are in the market for single family homes.

Source: Century 21

4 Tips to Make a Home More Inviting

2009-03-29T07:38:00.000-07:00

Model homes are important tools for builders because they help buyers fall in love with a home.

Phyllis Ryan, president of the model-home division of Interior Concepts, a Maryland design firm that specializes in furnishing new homes, has some tips that might benefit anyone who is selling a home.

A stylish kitchen appeals to many buyers. If a sellers has upgraded cabinets and granite countertops, that’s good. If they don’t, it may help to display some stylish touches like an espresso machine, a retro toaster or just some luscious fruit.
Lots of light makes spaces feel larger. Turn on all the lights even during the day and add a few extra lights if necessary.
The master bedroom should seduce a buyer. Play soft jazz, pile the bed high with a cushy comforter and pillows. Stack plush towels in the bathroom.
Add drama to a bottleneck or a dead end space. Prop an oversize mirror against the wall. It visually ops a space and adds drama.

Source: Washington Post, Elizabeth Razzi (03/14/2009)

FHA loans become Popular Choice

2009-03-27T07:33:00.000-07:00

Newly discovered FHA loans, which require low down payments but charge higher interest to borrowers with lower credit ratings, have quickly become a wildly popular choice for home buyers.

The loans require a down payment of only 3.5 percent, while conventional loans require down payments of 10 percent or higher.

However, the products also are drawing some unfavorable comparisons to now-abolished subprime loans. Finance professionals, however, stress that unlike the infamous subprime mortgages of years past, FHA lenders go out of their way to verify income and ensure that they are not approving "liar loans."

Source: Palm Beach Post (Fla.), Jeff Ostrowski (03/16/09)

Mortgage Rates Below 5%

2009-03-26T07:35:00.000-07:00

Mortgage Rates Drop Below 5% Freddie Mac reports a drop in the 30-year fixed mortgage rate to 4.98 percent during the week ended March 19 from 5.03 percent the prior year, marking the lowest rate since 4.96 percent in mid-January.

Experts say rates could fall further in response to the Federal Reserve's announcement that it will add $1.2 trillion to the economy to alleviate the credit crisis.

Source: Tulsa World (Okla.) (03/20/09)

Styled, Staged & Sold

2009-03-26T07:24:00.000-07:00

From an Architect: 6 Affordable Ways to Make Your Listings More Attractive.

1. Clean Everything
2. Accent Lighting
3. Fresh Coat of Paint
4. Don't go overboard with fancy flooring
5. Replace hardware in Kitchens & baths
6. Spruce up the exterior

For full report Click Here

Survey: American Dream Still Alive!

2009-03-25T07:19:00.000-07:00

The American dream of homeownership is alive and well with both home owners and potential home owners undeterred by the current housing slowdown.

According to the latest American Dream Survey by Trulia.com, more than 75 percent of Americans surveyed consider owning a home a key part of achieving their personal American Dream.

Creating more jobs and increasing job security is the most important thing President Barack Obama can do to stabilize the housing market, says 53 percent of those surveyed.

Other notable findings:
7 percent believe it is important for Obama to keep interest rates low.
5 percent think it is important to offer other economic incentives to homeownership.
21 percent say it is wise to reduce foreclosures.
6 percent believe that there is nothing Obama can do to stabilize the housing market.

Overall, 29 percent of those surveyed believe the housing market will improve in the next year. Of the Republicans surveyed, only 10 percent see improvement in the next year, while 47 percent of Democrats believe in that timetable.

Harris Interactive surveyed more than 1,400 home owners and about 600 renters for the survey.

Source: Trulia.com (03/05/2009)

Pricing Disagreement: What Is a Home Worth?

2009-03-24T07:14:00.000-07:00

Homeowners and the real estate professionals they choose to sell their homes don't always agree over what the property is worth, and many buyers think both of them are setting prices too high, according to a survey by HomeGain.com Inc.

The survey found that 63 percent of home owners believe the price their practitioner recommended is too low. About 45 percent of sellers think prices should be 20 percent to 30 percent higher, while 14 percent believe their home should be priced a whopping 30 percent higher.

Meanwhile, 21 percent of home buyers say the homes they are considering are overpriced by up to 10 percent; 32 percent say prices are 10 percent to 20 percent too high; and 6 percent say homes are more than 21 percent over priced. Only 18 percent believe homes are priced fairly

"Home owners know that prices have fallen, but that somehow doesn’t apply to them because they have ‘upgraded vinyl’” or something, Pamela Frey-Primiani of Keller Williams Realty in Sicklerville, N.J., says. “Sellers have got to be realistic in their expectations. An overpriced home in these times does nothing — no showings, no offers, just whining from sellers that it’s all someone else’s fault that the home hasn’t sold.”

Source: HomeGain.com Inc. (03/05/2009)

Cortney Zieky, REALTOR

Austin, TX

Austin: 2nd fastest growing city in U.S.

2009-03-23T07:29:00.000-07:00

Austin was the nation’s second-fastest-growing metropolitan area between 2007 and 2008, according to new data from the U.S. Census Bureau.

The population in the Austin-Round Rock area grew 3.8 percent to 1.65 million between July 2007 and July 2008. Among major U.S. metros, that growth rate was second only to Raleigh-Cary, N.C., which experienced a 4.3 percent population uptick during the 12-month period.

Large metro areas — those with 2008 populations of 1 million or more — were home to nine of the 10 fastest-growing counties. Texas had the largest number of counties on the 100 fastest-growing counties list with a total of 19. The Lone Star State was also home to 10 counties among the 25 with the highest numerical gains.

Four metro areas--including two in Texas--increased their populations by more than 100,000 people between 2007 to 2008: Dallas-Fort Worth (147,000), Houston (130,000), Phoenix (116,000) and Atlanta (115,000).

Source: Austin Business Journal

Runner's City Guide in Austin

2009-03-23T07:10:00.000-07:00

Useful information about races & running trails in and around Austin, Texas!
Click Here to learn more

Isn't Austin fabulous!! I think so.

Sincerely,

Cortney Zieky
REALTOR, Austin, TX

Austin Housing Market Study

2009-03-22T07:03:00.000-07:00

The City of Austin has completed a Comprehensive Housing Market Study that will have an impact on our market. The purpose of this study was to identify the existing and future housing needs of residents in Austin.

To access the report, CLICK HERE. (Tip: Review the Executive Summary for quick overview - this report takes a couple of minutes to load)

It's not all doom and gloom. Serving as a Commissioner on the city's Community Development Commission is an ongoing education on the challenges and opportunities facing the city of Austin. I am looking forward to bringing you more information as we develop the city's Five Year Comprehensive Plan as required by HUD

DEFINING HOUSING AFFORDABILITY IN AUSTIN
According to this report, the housing industry standard for defining housing "affordability" is that no more than 30 percent of a household's monthly income is needed for rent, mortgage payments and utilities. This report also shows that Austin demographics are changing - the boomers are the growing population in Austin. More college students are leaving Austin since they cannot afford the living expense. Very interesting info on how this will impact the city's future growth.

Let me know if you have specific questions related to this report, I'm happy to assist you.

Cortney Zieky, REALTOR
cortney.zieky@gmail.com
(512) 779-5396
Austin, TX

First-Time Home Buyer Tax Credit

2009-03-22T06:57:00.000-07:00

Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.

The tax credit is for first-time home buyers only.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

If you or your friends can benefit from this program, I'd love to assist you!
Just give me a call and we can get started with your home search..

Cortney Zieky, REALTOR
Austin, Texas
(512) 779-5396

2008 Texas Profile of Homebuyers & Sellers

2009-03-14T09:18:00.000-07:00

32
Average age of first time homebuyers in Texas

$69,200
Median income of first time homebuyers in Texas

16%
Percentage of Texas homebuyers who were single females

7%
Percentage of Texas homebuyers who were single males

66%
Percentage of Texas sellers who indicated they would definetly use the same real estate agent again!

For the complete survey visit www.texasrealtors.com

Texas Home Prices Up

2009-03-13T12:45:00.000-07:00

TEXAS HOME PRICES UP, REPORTS FHFA

WASHINGTON (FHFA, Real Estate Center) – Latest home appreciation rates released this week by the Federal Housing Finance Agency (FHFA) indicate Texas home prices increased 2.1 percent last year.

Midland led the way with a 10.4 percent increase between fourth quarter 2007 and fourth quarter 2008. At the other end of the spectrum were Odessa and Brownsville, where prices fell 2.7 percent and 2.6 percent, respectively.

In the final quarter of 2008, Texas home prices increased 0.2 percent.

"The data indicate what we have believed all along," said Real Estate Center Research Economist Dr. Jim Gaines. "Texas fared well in 2008, especially compared with the rest of the country."

According to FHFA, here's how home prices in select Texas cities did last year:
Abilene up 2.7%
Amarillo up 0.1%
Austin–Round Rock up 4.4%
Beaumont–Port Arthur up 3.1%
Brownsville-Harlingen down2.6%
College Station–Bryan up 5.5%
Corpus Christi up 1.8%
Dallas-Plano-Irving up 1.9%
El Paso down 0.4%
Fort Worth–Arlington up 1.2%
Houston–Sugar Land–Baytown up 3.7%
Killeen–Temple–Fort Hood up 2.5%
Laredo up 4.7%
Longview up 1.9%
Lubbock up 4.5%
McAllen-Edinburg-Mission up 0.1%
Midland up 10.4%
Odessa down 2.7%
San Angelo up 4.1%
San Antonio down 1.6%
Sherman-Denison up 2%
Texarkana up 1.1%
Tyler up 1%
Victoria up 6.2%
Waco down 1.7%
Wichita Falls down 2%

Nationally, prices dropped 4.5 percent last year for the overall index (which includes financings and refinancing) and 8.2 percent based on purchases-only data.

The FHFA's complete report is available online

Thankfully we live in Texas, where our home values are increasing for the most part!
Let me know if I can assist you in the Austin Real Estate Market.

Cortney Zieky, REALTOR
Austin, TX
cortney.zieky@gmail.com

How to Build your Professional Network

2009-03-13T12:43:00.000-07:00

I strive to work by referral as it allows me to work with like minded, pleasant people!
Working by referral affords me the benefit of spending less time prospecting and more time assisting my clients needs!!

Here are a few items that have been successful for me to establish and build relationships.

1. When building your network ask yourself "Who is my ideal client? Who has an existing relationship with my ideal client?

2. Look at what groups you belong to. Are their any potential clients or potential referrals among the members?

3. Never mass mail. Always correspond via mail with people you know and have met.

4. Spend plenty of time with professionals outside of the industry to open up more opportunities and earn new business perspectives.

Build and reinforce your networks by using the following to your advantage:
- Business lunches are a great chance to sit down and meet face to face
- Business mixers allow large-scale networking and the ability to call and follow up with professionals.
- Cross endorsements grow your client database and your business network at the same time.
- Be thankful everyday for your clients, colleagues and referring businesses!
- Send referrals to businesses you trust

Pre-Qualified vs. Pre-Approved

2009-03-12T09:11:00.000-07:00

Pre-qualification gives buyers an idea of how much money they might qualify to borrow.
To get pre-qualified you will provide a lender with approximate income, current debt, and any important details from your credit history.
The lender calculates how much money they may be eligible to borrow prior to application for a loan.
All information submitted during pre-qual is subject to verification at the time the loan application is submitted. (It's not guaranteed).

Pre-Approval goes further. You will fill out a loan application and after examination the lender will commit in writing to funding a loan. Getting Pre approved for a mortgage enables you to move quickly when you find a home you want!!!

Before you begin shopping for a loan, make sure you check your credit report for errors.
All consumers are entitled to one free credit report annually from each of the three credit reporting agencies:

Equifax
Experian
TransUnion

www.annualcreditreport.com is a great resource.

Let me know if you need further assistance!

Cortney Zieky, REALTOR
Austin, TX

Good News!

2009-03-10T09:01:00.000-07:00

2 Things!

1st piece of good news is HUD raised the FHA loan limit on a single family home to $ 288,750. Remember you can get into a FHA home with a low down payment of 3.5%!!
This down payment can be gifted to you by a family member. Call me for more details!!

2nd piece of good news!

2009 FIRST-TIME HOME BUYER TAX CREDIT·

Is for first-time home buyers (buyer who has not owned a principal residence during the three-year period prior to this purchase)·
DOES NOT have to be repaid·
Is equal to 10 percent of the home’s purchase price up to a maximum of $ 8,000·
Is available for homes purchased on or after January 1, 2009 and before December 1, 2009·
Single taxpayers with incomes up to $ 75,000 and married couples with incomes up to $ 150,000 qualify for the full tax credit

This tax credit is different from the tax credit available to first-time home buyers who purchased between April 9, 2008 and December 31, 2008 which was $ 7,500 and required repayment.

Call or email me if you know someone that can benefit from this new program.

Cortney Zieky, REALTOR
Exit Realty Associates
Austin, Texas
512-779-5396

Know Your Neighborhood!

2009-03-09T09:07:00.000-07:00

Curious about the crime rate where you live?

Click Here to read Neighborhood Crime Summaries for Austin, Texas; Round Rock, Texas & Georgetown, Texas.

Be in the know!

Cortney Zieky

Healthiest Housing Markets- Austin Ranked!

2009-03-06T08:56:00.000-08:00

FIVE TEXAS CITIES NAMED HEALTHIEST HOUSING MARKETS

TEXAS (Builder) – Five Texas cities swept the top spots on Builder magazine’s list of “Healthiest Housing Markets for 2009.”

Houston ranked first, Austin second, Fort Worth third, San Antonio fourth and Dallas fifth.

Full Article

Call me for your Real Estate needs!

Cortney Zieky, REALTOR

Exit Realty Associates

Austin, TX

512-779-5396

Top citites to live in for less than $500,000- Austin, TX ranks # 7

2009-02-27T13:29:00.000-08:00

Forbes magazines has compiled a list of cities where $500,000 will still buy an exceedingly comfortable lifestyle. To choose these 10 locations, Forbes examined the cost of the typical four-bedroom, two-bathroom, and 2,200-square-foot home. They also factored in the amount of patent and venture capital activity, average commute, and an average cost of living below $100,000.

The top cities were:

Irvine, Calif.
Raleigh, N.C.
Bellevue, Wash.
Portland, Ore.
Sunnyvale, Calif.
Redmond, Wash.
Austin, Texas
Chandler, Ariz.
Rochester, N.Y.
Plano, Texas

Source: Forbes, Matt Woolsey (02/12/2009)

Economic Forecast for Austin

2009-02-23T14:00:00.000-08:00

I. Population Growth: Austin will grow by 38K people in 2009 and will add another 44K in 2010.

II.Retail sales will slow .8% in 2009, and rebound by 3% in 2010

III. Real estate forecast for 2009-2010 predicts absorption as follows:
Office 300,000 sq. ft.
Industrial 250,000 sq. ft.
Retail 600,000 sq. ft
Single Family 14,000 units
Multi-Family 9,000 units
Advice to follow: the down cycles of 1987, 1991, 2002: If you looked back on those markets and wished you had invested more aggressively in hindsight, consider doing that now

IV. Job Sector:
Austin’s economy will experience sluggish job growth in 2009 before returning to form in 2010, with employment increasing by 2,100 and 11,000, respectively in 2009 and 2010. New jobs will be created across the Austin economy, though the manufacturing and retail sectors will see small job losses in 2009 as a result of a downturn in exports and reduced consumer spending. Job growth will remain strong in the core sectors of professional services, government, and education & health care, with slower growth in other sectors of the economy. Economic growth in transportation, warehousing, & utilities and manufacturing will remain slow. Professional services will add the most private-sector jobs in 2009 and 2010, continuing the growth in high-wage industries.

Source: Angelos Angelou, Angelou Economics

Four Ways the 2009 Economic Stimulus Plan Benefits Home Owners and Buyers

2009-02-22T13:36:00.000-08:00

There are four primary sections of the 2009 economic stimulus plan that could be very beneficial if you own or are buying a home.

Benefit #1 — Expansion of Home Improvement Tax CreditThe tax credit for making energy efficient home improvements is now 30% of the cost of the improvements up to a maximum of $1,500. This means that if the improvements cost you $4,500, you would receive a tax refund of $1,500 when you file your tax returns. Eligible improvements include energy efficient exterior doors and windows, insulation, heat pumps, furnaces, central air conditioners and water heaters. Generally, your home improvement contractor and/or the manufacturer selling the improvements issues a certification that clarifies whether the improvements meet the necessary standards for energy efficiency. Most modern windows, furnaces, and air conditioners meet these requirements. If you've been holding off on making some of these improvements, now is a great time to get a move on it - especially with all the great deals that are being offered!

Benefit #2 — Expansion of First-time Home Buyer Tax CreditThe tax credit available to first time home buyers was increased from $7,500 to $8,000 for homes purchased between January 1, 2009, and December 1, 2009. Also, the credit no longer needs to be paid back as long as you live in the home without selling it for at least 3 years. The previous version of the credit expired on July 1, 2009, and required home buyers to pay the funds back over a 15 year time frame.The income limitations remain the same ($75,000 for single tax payers claiming the full credit and $150,000 for married tax payers), as do most other qualification requirements. Also, the credit remains refundable. This means that first-time home buyers who owe less than $8,000 in taxes for the year are still eligible for the full $8,000 credit when they file their tax returns. In that case, the IRS will write you a check for the difference between $8,000 and your actual tax bill. In fact, the credit can be claimed on your 2008 tax returns that you file by April 15, 2009, even if you buy the home in 2009.There is one catch, however: if you bought the home in 2008, the credit remains $7,500, and it still needs to be paid back over a 15 year timeframe beginning in 2011 when you file your 2010 returns.

Benefit #3 — Higher Reverse Mortgage Loan LimitsThe loan limits for FHA-insured reverse mortgages have been increased to $625,500 across the entire country - not just the higher cost areas. The previous limit was $417,000 across the country. This is especially important because the FHA program is virtually the only game in town as private and jumbo reverse mortgage programs have nearly all evaporated.This coincides with another little-known change in the reverse mortgage arena: the availability of reverse mortgages on home purchase transactions. This is a fantastic opportunity for senior citizens to buy a new home and live mortgage payment-free without having to wait for their old home to sell. Seniors could also use this strategy to buy a new home and turn the old home into a rental or otherwise wait for market conditions to improve before trying to sell the old home.

Benefit #4 — $729,750 FHA and Conforming Loan Limits Restored in High Cost AreasThe $729,750 maximum loan limit had been in force throughout 2008, but was reduced to $625,500 in 2009. The economic stimulus plan restores the $729,750 maximum. This makes higher cost homes more affordable — especially in the coastal housing markets that tend to have higher than average home values.

To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, by any person for the purpose of (i) avoiding tax-related penalties or (ii) promoting, marketing or recommending to another person any transaction or matter addressed in this communication. Also, it is important to note that I am providing this information to you as your mortgage planner, in order to make you aware of some of interesting ideas that may benefit you. I am not an investment, tax, or legal advisor, and this information does not constitute legal, tax or investment advice. I definitely recommend that you consult with properly licensed legal, tax and investment advisors for specific advice pertaining to your individual situation

5 Tips for Homebuyers Seeking a Mortgage

2009-02-21T13:24:00.000-08:00

1. Down payments are critical.
Borrowers should expect to put down at least 10 percent for a “conforming loan” – a mortgage that Fannie Mae and Freddie Mac will purchase.

2. Credit scores count. A 720 on the 850-point FICO rating scale will get a borrower access to the best rates. Rich Bira, branch manager of FCM Direct Lender in Chicago, says: "A score between 720 and 739 gets 0.125 percent added to the rate, a score between 700 and 719 gets 0.375 percent added to the rate, and a score between 680 and 699 gets 0.5 percent added to the rate.”

3. Consider VA and FHA. Borrowers without down payments or with less than stellar credit scores should consider these government-insured loans offered through the Federal Housing Administration of the Veterans Administration.

4. Unearth the records. Before applying, borrowers should organize tax, banking and other records that prove income, savings and debts. They should also expect to be patient about what may seem to be endless requests for information.

5. Get rid of debts. Limiting debts, including what borrowers expect to pay for the mortgage, to less than 43 percent of gross income is important.

Source: Chicago Tribune, Mary Umberger (02/15/09)

Hope this helps prepare you for your mortgage application!

I'm happy to help

Cortney Zieky, REALTOR
Exit Realty Associates
Austin, TX

Austin Housing Forecast

2009-02-20T14:03:00.000-08:00

US has seen a 76% decline in housing starts since 2006
The average months-of-supply of new homes nationally is 12 months. In Austin, we’re at 5 months-of-supply as of the end of 2008.
Austin leads the nation in home appreciation at 5.5%, although it will probably go negative in 2009, improving in 2010.
10K new apartment units will be delivered in Austin, which will bring rent stagnation and decline in occupancy and will not help the housing market.
Closings on new homes are outpacing starts at this point, although we have 40 months of supply of vacant developed lots to work through
Threats to our local economy in the near term include the tight credit markets, increase in foreclosures and stagnation of appreciation.
Economic boosters include record low interest rates (with possible additional decreases), manageable inventory of new homes, back to basics in lending practices, and continued population growth in Central Texas.

Austin isn't a bad place to be given our current local economy compared with other markets.

I'm thankful to be here!!

Cortney Zieky, REALTOR

Exit Realty Associates, Austin TX

Source: Eldon Rude, Austin MetroStudy

Market Maven

2009-02-20T13:50:00.000-08:00

Buzzword: Market Maven"Slang used to describe a good investor who is "in-the-know."

It also implies opinion leadership. In general, the term is used to describe consumers who have up-to-date information about products, places to shop, and different markets. This definition makes sense when talking in the context of the stock market. " -Investopedia
Fun fact: Maven is actually derived from Yiddish meaning "he knows".

Positives

Lowering oil prices will continue to make your travels cheaper freeing up funds for other purchases or even the novel idea, savings.
Rates are awesome. Lowering home prices along with the consistently low interest rates are ever increasing affordability for aspiring home owners. Plan. Income Generating Assets are one way you will leverage your ability to live beyond 100.
People made home purchases in January.
Bank of America was thanked for stepping up, helping the government out, and saving us all from an even heavier market fall in their purchase of Merrill Lynch.

Negatives

Foreclosures and short sales are deteriorating equity for long time homeowners.
Lack of confidence is deteriorating stock portfolios. Low rates are limiting our ability to earn strong, safe returns in CD and Money Market accounts.The Stimulus Bill doesn't have focus.

Hopefully the new stimilus bill will provide an increased financial stability for many Americans.

Tax Deductible Charitable Donations

2009-02-20T12:36:00.000-08:00

There could be several donations you may be eligible for that you might not realize!

1. Travel Expenses
Volunteer work isn't deductible, but the travel required is. You can keep track of gas expenses or write off .14 per mile.

2. Out of pocket Expenses
If you paid out of pocket for expenses related to a qualified charity and weren't reimbursed, these expenses act as charitable donations.

3. Student Lodging.
If a non related or non dependent student in grade K-12 is staying with you, you can deduct up to $50.00 per month.

4. Appreciated Property
You can avoid paying capital gains on items you have sold or donated that have appreciated in property, such as stock, and get a deduction.

I hope this was helpful information for you.
Please let me know if I can assist you with your Real Estate needs.

Get Free Tax Advice From The IRS

2009-02-19T12:05:00.000-08:00

Trained community volunteers are available throughout the country to offer free tax assistance and even file your tax return electronically.
There are three government sponsored tax assistance programs.

1. Volunteer Income Tax Assistance (VITA) Program: Offers help to low-to-moderate-income people unable to prepare their taxes on their own.

2. Tax Counseling for the Elderly (TCE): Assists people age 60 and over with a special emphasis on the tax needs of seniors

3. Armed Forces Tax Council (AFTC): Members of armed forces and their families can have their returns prepared for free.

Helpful Tax Tips

2009-02-17T12:11:00.000-08:00

A first-time home buyer's tax credit is available for qualifying individuals and eligible joint-filing couples. Consult with your CPA.
Deductions and hospital bills and doctor visits are well-known, but tax relief is also available for medical expenses ranging from insurance premiums to prescription eyeglasses and contacts.
Capital loses on stocks deemed worthless- generally those that are no longer traded- are deductible.
Unreimbursed losses incurred due to theft, fire, or another form of casualty can be claimed if the sum is more than $100 and more than 10% of your adjusted gross income
Educators can receive a $250 above the line deduction for classroom expenses.
A Home office may lower your bill- You must be able to show that you use your home as your principal place of business.

Tax laws are complicated. Talk with your accountant or financial service provider to figure out what can be deducted given your unique circumstances.

Contact me if you need a referral. I'm happy to help you!

Source: http://www.irs.gov/newsroom/

Cortney Zieky, REALTOR

10 Deadly Mistakes Buyers Make When Purchasing a Home

2009-02-17T11:57:00.000-08:00

1. Making an offer on a home without being pre-qualified

2. Not having a home inspection

3. Limiting your search to open houses, ads or the Internet

4. Choosing a real estate agent who is not willing to form a strong working relationship with you

5. Thinking there is only one "perfect house" out there

6. Not considering long term needs

7. Not examining insurance issues

8. Not buying a home protection plan

9. Not knowing total costs involved in your home purchase

10. Not following through on due diligence- You should make a list of any concerns you have relating to issues such as crime rates, schools, power lines, environmental conditions, etc.

If you would like more information on any of these items please contact me.
I'm happy to be on your side as you make your home purchase!!

Oh, by the way.... whenever you come across people who are thinking about buying or selling a home and who would appreciate the kind of service I offer, I'd love to help them!
Just give me a call with their name and number and I'll be happy to take care of them.

Cortney Zieky, REALTOR
Austin, TX
512-779-5396
cortney.zieky@gmail.com
www.czieky@exit620.com

Home Fads That are Falling Out of Style

2009-02-07T05:50:00.000-08:00

1. Fireplaces: The fireplace skyrocketed in importance in homes in 1991 with 62 percent of new homes having one or more. But the number has steadily been decreasing ever since. In 2007, the number dropped to 51 percent.
( I think this probably depends what area of the country you live it).

2. Carpet: While 54 percent of homes still have carpet floors, the number is decreasing and hardwood floors are taking the place. Vinyl and ceramic tile flooring also are being bypassed more by buyers. Seventeen percent of new homes contain hardwood floors throughout the entire house.

3. Living room: These once-decorative centerpieces of homes are slowly vanishing from newer homes. Thirty-four percent of consumers say they’re willing to buy a home without a living room.

4. Desks in the kitchen: These desks were once looked at as great storage areas but they’re often too small and quickly become clutter spaces in a home, said Gayle Butler, editor in chief of Better Homes and Gardens. Instead, more consumers say they prefer larger desks in or near the family room—equipped with a messaging center—where they can keep an eye on their kids as they work on the computer.

5. Skylights: The little windows that allow natural light to seep into a home from above are falling out of style. Only 10 percent of new homes will include them this year, a continuing downward spiral for skylights.

6. Upscale kitchen finishes: Granite counter tops are slowly becoming less desirable among buyers who are now moving toward affordable, low-maintenance laminate counter tops—which tend to last longer and now come in various styles.
(I'm not sure this is the case in Austin as of yet).

Article by: By Melissa Dittmann Tracey of REALTOR Magazine

How Sellers benefit from a home inspection!

2009-02-06T12:14:00.000-08:00

The result of a home inspection may affect all manners of contract negotiations and influence how comfortable potential buyers feel about a property. It also helps ensure a smoother, faster transaction!

Here's why it's a good idea to get a home inspection before you put your home on the market:

Price: the cost of an inspection is usually less than the first price reduction asked for by buyers. Also, a home with a clean bill of health will support a higher sales price.

No Surprises: You'll dramatically reduce the chance that a buyer's inspection will reveal surprises about needed repairs or maintenance issues.

Your House Stands Out: Performing a sellers inspections, differentiates your home from others on the market!!!

Comforts Buyers: A home in documented good shape or even one with disclosed conditions offers a comfortable certainty for buyers.

Fewer Terminations: With more information at their disposal before they make an offer, potential buyers are less likely to use their termination option in the contract. This saves time and money that may have been spend on the wrong buyer!

Thanks to George Potter of Bent Creek Home Inspection & Texas Realtor for this article.