Staging Your Home to Sell

Holiday Package Delivery Theft Prevention

Holiday Package Delivery Theft Prevention Tips

The holidays are upon us. Many people have already begun shopping for gifts for their family and friends. Shopping online has exploded over the past several years. During this season law enforcement agencies nationwide see a surge in package delivery thefts. Oftentimes, thieves will follow the delivery trucks on their routes waiting for a package to be left unattended. Within minutes of the delivery truck leaving a package on the doorstep, thieves can walk up and make off with your gifts. Here are a few tips to help you avoid being the victim of these holiday “Scrooges”:

Have packages delivered with a signature required. This ensures that the package will not be left unattended on your doorstep.

If you know that you will not be at home when a package is due to arrive, and your workplace allows, consider having your purchases delivered to your place of work.

Sign up for delivery alerts through each delivery service’s website. If you have a trusted neighbor, once the package is delivered, have them retrieve it and hold onto it until you get home. Most services also allow you to change the delivery date, so you may be able to change it to a day or time that you will be home.

Most delivery services also have alternate delivery options. FEDEX can be delivered to a local FEDEX Office location and they will hold your package for in-person pickup. UPS has options to deliver to a UPS Store, UPS Access Point location, or hold your package at the UPS Customer Center. Amazon.com has Amazon Locker locations at convenient locations throughout the city.

If you must have something delivered when you are not home, leave instructions for the delivery service to place the package somewhere out of view from the street.

If you believe that someone has stolen a package, confirm that it was delivered, and then make a report with the Austin Police Department.

Finally, please watch out for your neighbors. Call 911 immediately if you see suspicious activity—get an accurate description of the activity and/or vehicle or person. Relay that information to the 911 call-taker as soon as possible.*

*Article courtesy of the Austin Police Department 

Coming Soon Feature Now Available on the MLS

Coming Soon (CS) status in Matrix

Coming Soon (CS) is a status in Matrix that was created as a way for your listings to gain public exposure before the listings are ready to show. Once you enter a listing into CS status, you have the option to send the listing data to any of ABoR’s approved public portals, where the listing will display as a “Coming Soon” listing (if the portal chooses to display CS status).
On this page, you'll find resources to learn more about this new Matrix listing status. Please review these CS status FAQs and the Business Rules to answer any questions you may have.

What You Need to Know About CS Status

• You can enter any of the Property Types into CS status. On Add/Edit, you’ll find a “Coming Soon” input form underneath each Property Type
  • Note: You can only enter a new listing into CS status; once a listing is in any other status, it cannot revert to CS status for any reason

• A listing can spend a maximum of 14 days in CS status
  • After 14 days, if the listing agent does not switch the status to Active (A), the listing will automatically switch to Temporary Off Market (T) status
  • The listing agent will be sent a reminder notification three days before the 14-day period expires, as well as an additional notification if the 14-day period expires and the listing enters T status
  • The agent can switch the listing to Active status from T status
• Once a listing leaves CS status, it CANNOT re-enter CS status for any reason, including input errors
• A listing entered into CS status in Matrix will display on public portals if the listing agent selects “Yes” to Internet Display (and if the portal chooses to display CS status)
  • Due to CS being a new status, it will take some time for the public portals to display CS listings
• A listing in CS status will not begin to accumulate DOM or CDOM; the listing will begin to count DOM/CDOM when it is entered into Active (A) status
  • Note: Ensure you have the proper List Date selected when submitting your listing into Active status
• A CS listing must enter into Active (A) status before entering any other status, including Sold (S).*

*Courtesy of Austin Board of Realtors. 

How to Save for Your New Home

Here are 6 tips to help you save for your new home!

 Approximately 52% of Americans plan to buy a home in the next five years, according to new report from the American Bankers Association, which leaves 1,825 days to save anywhere from a 3% to 20% down payment.

So, it’s important to start saving now, especially since for many borrowers, the down payment is the biggest obstacle of homeownership

In recognition of American Housing Month, the American Bankers Association Foundation highlighted six tips to help consumers cut costs and start saving.
 
1. Develop a budget and timeline:

Start by determining how much you’ll need for a down payment. Create a budget and calculate how much you can realistically save each month – that will help you gauge when you’ll be ready to transition from renter to homeowner.  

2. Establish a separate savings account:

Set up a separate savings account exclusively for your down payment and make your monthly contributions automatic. By keeping this money separate, you’ll be less likely to tap into it when you’re tight on cash. If you received a tax refund, consider putting all or a portion into this account.

3. Shop around to reduce major monthly expenses:

It’s a good idea to check rates for your car insurance, renter’s insurance, health insurance, cable, internet or cell phone plan. There may be deals or promotions available that allow you to save hundreds of dollars by adjusting your contracts.

4. Monitor your spending:

With online banking, keeping an eye on your spending is easier than ever. Track where most of your discretionary income is going. Identify areas where you could cut back (e.g. nice meals out, vacations, etc.) and instead put that money into savings.

5. Look into state and local home-buying programs:

Many states, counties and local governments operate programs for first-time homebuyers. Some programs offer housing discounts, while others provide down payment loans or grants.

6. Celebrate savings milestones:

Saving enough for a down payment can be daunting. To avoid getting discouraged, break it up into smaller goals and reward yourself when you reach each one. If you need to save $30,000 total, consider treating yourself to a nice meal every $5,000 saved. This will help you stay motivated throughout the process.

“A down payment is often the largest single payment a consumer makes in their lifetime and saving for it isn’t easy,” said Corey Carlisle, executive director of the ABA Foundation. “However, with a few changes, consumers can put themselves on track to make their homeownership dream a reality.”
On of the top myths about down payments is that borrowers need to put 20% down.

“Today, a 20% down payment is not required and depending on the buyer’s situation, it may not be optimal. Homeownership programs allow buyers to save on the down payment and retain savings for home maintenance and improvements. Today’s programs include grants, first mortgages with below-market interest rates and annual tax credits,” said Rob Chrane, CEO of Down Payment Resource.

Borrowers have more options now, with the growing popularity of the 3% down that many major lenders have gone to. And, one of the nation's largest nonbank lenders, Quicken Loans, is even offering certain borrowers the opportunity to put only 1% down on a mortgage.*

*Article Courtesy of HousingWire

Affordable Housing Comes to Austin

5 New Affordable Housing Developments in Austin

One of the downsides of Austin’s hot housing market is that it can be difficult for families in lower income brackets to find a house. Fortunately, there are several new affordable housing developments expected to open within the next two years. Here are five new developments to watch for.

Cardinal Point
Cardinal Point is slated to open in 2017 in the Four Points community of west Austin. It will feature 140 units and will be a great place for families, as it is located in the highly-rated Leander Independent School District. Families living at the property will have access to free education, financial stability and health programs right where they live. There will also be a Community Learning Center with after-school and summer learning programs, ESL classes, and fitness classes like Zumba and yoga. 11011 1/2 Four Points Drive, Austin. For more information, contact Foundation Communities at 512-447-2026.

Monarch at Lakeline Station Apartments –
Lakeline Station is scheduled to open in late 2016. It is located in northwest Austin and will feature 141 units. It is expected to open in December 2016. The apartments will be conveniently located near Capital Metro’s Lakeline station. The developer of the project is MGroup Holdings Inc., based in Houston. 9800 block Lake Creek Parkway, Austin. For more information, contact MGroup Holdings at (262) 439-4200.

Windy Ridge
Realtex, in partnership with Generation Housing Development, broke ground in October 2014 on Windy Ridge Apartments. The property features 120 units with one- through three-bedroom options. Also in Leander ISD, amenities include a clubhouse, pool, dog park, covered parking and energy-efficient appliances. 10910 Ranch Road 620 N., Austin. For more information, contact Realtex at 512-306-9206.

Tuckaway Apartments
This $43 million development will be built on a 17.5-acre site in Cedar Park. Tuckaway Apartments will feature a number of amenities including a swimming pool, splash pad, fitness center, business center, dog park, two playgrounds and masonry exteriors. While the site’s current zoning allows for 20 units per acre, or 340 units, Tuckaway would have only 256 units, which would allow for a two-acre public park, more green space and a buffer along Bagdad Road. It is also located in Leander ISD. 1740 Bagdad Rd., Cedar Park. For more information, contact Pedcor Investments at 317.587.0320. 

Aldrich 51
Located in the heart of Austin, Aldrich 51 will be located in the highly desirable Mueller community, a mixed-use community featuring shopping, restaurants and walking trails. Of the development’s 240 units, 85 percent will go to those in need in the community. Working adults can choose from a studio, one, two, and three bedroom unit. The only qualification is that the families earn 30 to 60 percent of the median family incomes in Austin, a range between $32,000 and $41,250 for a family of four. Aldrich 51 is projected to open in June 2017. Units will range from $620 to $1,200 per month. Located at 2604 Aldrich Street, Austin. For more information, contact DMA Companies at 512-328-3232.

Article Courtesy of Austin Relocating Guide

Tips for your Property Tax Appraisal Hearing

18 Tips on How to Avoid Losing Your Tax Appraisal Hearing

• Do not get into a shouting match. 
• Forget about tax rates. The tax rate is not decided by the appraiser and has no place in either the Informal Meeting or the Formal Meeting. 
•  Do not talk about your inability to pay taxes. Not being able to afford paying taxes is immaterial. 
•  Do not assume that the purchase price reflects true value unless the home was acquired within six months before or after January 1^st of the appraisal year. Some appraisal districts use a time adjusted value. 
•  Do not compare your property to properties that are located outside of the CAD determined neighborhood or homogeneous subdivision. Find out your neighborhood boundaries before the hearing, not after! 
•  Do not show front-view photographs of your neighbors’ properties without showing a front view of your property. 
•  Crime and noise influences on your property values are difficult to establish unless you can show that you and your neighbors are unduly and repeatedly threatened. If actual sales have been affected, this makes for a stronger argument. 
•  Do not rest your argument entirely on minor settlement cracks in the walls, floors, and ceiling. Many homes in the Austin area are subject to minor stress cracks and settling. Should you consider the situation serious obtain a construction bid to correct the issue and provide that. 
•  Leaking roofs are considered by some CADs and ARB panels to be due to the lack of normal maintenance often reimbursable by insurance but in any event not due an adjustment. 
•  Do not volunteer information about improvements you have made to your property. Obviously if asked, reply in the simplest terms possible. The CAD may be aware of remodeling from reviews of building permits, drive by or aerial photography. 
•  Do not forget you have the right to cross examine the appraiser during the Formal Hearing. 
•  Use your special knowledge of the detrimental aspects of your neighborhood and property. 
•  If the appraiser is not comparing reasonably comparable properties be sure to not this out to the appraiser during an Informal Meeting or the Hearing Panel at the Formal Hearing. 
•  First impressions count so we suggest that you dress professionally. 
•  Avoid sexist or discriminatory remarks. 
•  Make eye contact during your presentation. 
•  Provide handouts and photos to each panel member therefore four copies. 
• Work diligently to make your presentations uncomplicated and simple.*

*Article Courtesy of Gordon Gorychka 
 
 

10 Most Common Questions When Buying A Home

• What’s the first step of the home buying process?

• Answer: The Mortgage Pre-Approval.

Unless you are paying cash for a house, you will need to get a mortgage. In order to know how much home you can afford, you will need to get pre-approved for a loan. This is the first-step in the home buying process.

•   How Long Does it Take To Buy a Home?

• Answer: Around 30 days

The timeline for finding a house varies greatly from person to person. Once you find a house and have an accepted offer, it usually takes around 30 days to close.

• What Does A REALTOR® Do?

• Answer: Almost everything.

A REALTOR® is your most valuable asset when buying a home. They will walk you through every part of the home buying process. They will educate and inform you of all your options. They will represent you throughout the transaction and beyond. 

There is a difference between a REALTOR® and a real estate agent; many people do not know this. A REALTOR® is regulated by the National Association of REALTORS® and subscribes to a strict Code of Ethics. A real estate agent does not. It is recommended that you work with a licensed REALTOR® to avoid potential problems.

• How Much Do I Have To Pay a REALTOR® as a Homebuyer?

• Answer: Nothing

In most cases, you do not have to pay your REALTOR® anything to help you purchase a home. The sellers pays their REALTOR® a fee, and then that listing agent pays the buyers agent for bringing the buyer and facilitating the transaction. 

• What’s Your Best Advice for First-Time Homebuyers?

• Answer: Trust the Professionals.

Beware of advice from people who do not work in the industry. Real estate is a popular topic and almost everyone feels like they have some great insight to offer. In reality, the people who know best are the people that work in the business. Good REALTORS® have sold hundreds (maybe thousands) of properties. We know what to expect and what to look out for. Friends and relatives have only bought and sold a few homes, if any at all. Buying and selling a couple of homes does not make someone a well-rounded source of information. Be confident in your decisions and trust the professionals. 

• What Kind of Credit Score Do I Need to Buy a Home?

• Answer: 620+

A 620 credit score, or higher, is recommended. As you are probably aware, a higher credit score offers better lending terms. This is an ever evolving topic, however, as loan requirements are constantly changing. There are some lenders who will approve buyers with a 580 score, sometimes even lower. Your loan officer will be the best source to give you a current answer for today’s lending requirements.

• Are There Special Home Buying Programs That I Should Know About?

• Answer: Yes

There are some great home buying programs to research. The main ones would be VA loans, USDA loans, and FHA loans. Knowing the difference between these loan types is very important.

• How Much Money Do I Need for a Downpayment?

• Answer: It depends on your loan type. Usually 3% to 5% down.

The most common answer is 3% to 5% of the purchase price. FHA loans dropped their requirement from 3.5% to 3.0%. There are also some conventional loans that only require 3% down. Veterans are usually eligible for a VA loan, which requires no money down. Properties in rural areas are usually eligible for a USDA loan, which also requires no money down.

• What Other Fees Are There, Besides the Downpayment?

• Answer: Mainly loan origination and closing costs.

The downpayment is usually the largest cost associated with buying a house. Lending fees are the second largest costs to homebuyers. Most lenders will charge between 2% to 4% of the loan amount for loan origination fees, depending on the loan type. Conventional loans usually have lower loan origination fees, but require more money down. Your loan officer will be able to help you determine how much you can expect to pay towards loan origination and closing costs.

•  When do I get the keys?

• Answer: At Closing

Under normal circumstances, you will get the keys at the closing. A closing typically takes about an hour. In some cases, the lender will need time to fund the loan and you will need to pick up the keys after the loan has been funded. If you have a Friday evening closing and the loan cannot fund until Monday, you may not get the keys until Monday. Make sure to coordinate your closing to get the keys on the same day, if that is what you need.*

*Article Courtesy of GreatColoradoHomes.com.