Sunday, January 17, 2010
20723 Lakeshore Dr.
With No ETJ, Zoning or Restrictions, your imagination is the only limit to this multi-use property. Three separate lots included (6, 7, and 55) as well as a .3 acre conservation easement. The home has expansive views of the south shore of Lake Travis along with a remodeled kitchen, metal roof, huge game room, sports court, 3 bedrooms and 2 baths. The property will accommodate both investors and home owners alike. With commercial zoning and no restrictions you can build on each lot or keep together. Walk to HOA Park with boat dock and gazebo. You must visit this property to appreciate.
Austin Texas Median Home Price
As home prices continue to decrease the number of active properties do as well. There are currently under 10,000 active listings in the Austin area for the first time since 2004.
With the shortage of inventory it is getting harder and harder for qualified buyers to find quality porperties. Also as we get closer to the end of the first time home buyer (8,000) and move up buyer (6,500) tax credits competition for the best properties will continue to increase.
Now is the time to Buy!
Tuesday, January 5, 2010
Austin Texas Median Price per foot.
This is a good comparison between the four different price quartiles. Price per foot is one of the most common ways to assign value to a home, but not the only thing you should compare when it comes to buying or selling. The price of a certain property depends on many factors, price fer foot is one of them.
Austin continues to be a strong market for both buyers and sellers. A neutral market is when available inventory is at 6.5 months, meaning it would take 6.5 months at the current pace of sales to sell all of the homes on the market if no new ones were added. Austin currently only has 5.5 months of available inventory, which is another indicator of a lack of inventory. This shortage of inventory will eventually turn the market from nuetral to a sellers market where demand outpaces supply. Prices/Price per foot at this point will begin to go up.
Monday, November 30, 2009
Saturday, November 7, 2009
First Time Homebuyer Tax Credit Extended Into 2010!
First Time Homebuyer Tax Credit Extended Into 2010!
Plus...A New Tax Credit for Certain Existing Home Owners!
It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Deadlines: In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Higher Income Caps in Effect The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price Qualifying buyers may purchase a property with a maximum sales price of $800,000. First-Time Homebuyer Tax Credit – Frequently Asked QuestionsHere are answers to some commonly asked questions about the tax credit.
What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.
What is the tax credit for first-time homebuyers (FTHBs)? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit? For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf).
Can you claim the tax credit in advance of purchasing a property? No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.
Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.
Plus...A New Tax Credit for Certain Existing Home Owners!
It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Deadlines: In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Higher Income Caps in Effect The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price Qualifying buyers may purchase a property with a maximum sales price of $800,000. First-Time Homebuyer Tax Credit – Frequently Asked QuestionsHere are answers to some commonly asked questions about the tax credit.
What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.
What is the tax credit for first-time homebuyers (FTHBs)? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit? For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf).
Can you claim the tax credit in advance of purchasing a property? No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.
Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.
- You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
- You do not use the home as your principal residence.
- You sell your home before the end of the year.
- You are a nonresident alien.
- You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
- Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009. - Can you buy a home from a step-relative and be eligible for the credit? Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed.
- Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit? Yes.
- Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years? No. However, the spouse may be eligible for the repeat buyer credit.
This is the NAR report.
Thursday, November 5, 2009
Saturday, September 5, 2009
Just put some "Tussin" on it, or WD-40!
I had a neighbor who had bought a new pickup. I got up very early one Sunday morning and saw that someone had spray painted red all around the sides of this beige truck (for some unknown reason). I went over, woke him up, and told him the bad news. He was very upset and was trying to figure out what to do probably nothing until Monday morning, since nothing was open.
Another neighbor came out and told him to get his WD-40 and clean it off. It removed the unwanted paint beautifully and did not harm his paint job that was on the truck. I'm impressed! WD-40 who knew? 'Water Displacement #40'. The product began from a search for rust preventative solvent and degreaser to protect missile parts. WD-40 was created in 1953 by three technicians at the San Diego Rocket Chemical Company. Its name comes from the project that was to find a 'water displacement' compound. They were successful with the fortieth formulation, thus WD-40. The Convair Company bought it in bulk to protect their atlas missile parts.
Ken East (one of the original founders) says there is nothing in WD-40 that would hurt you. When you read the 'shower door' part, try it. It's the first thing that has ever cleaned that spotty shower door. If yours is plastic, it works just as well as glass. It's a miracle! Then try it on your stove top..... Voila! It's now shinier than it's ever been. You'll be amazed..
Here are some other uses:
1. Protects silver from tarnishing.
2. Removes road tar and grime from cars.
3. Cleans and lubricates guitar 20 strings.
4. Gives floors that 'just-waxed' sheen without making them slippery.
5. Keeps flies off cows.
6. Restores and cleans chalkboards.
7. Removes lipstick stains.
8. Loosens stubborn zippers.
9. Untangles jewelry chains.
10. Removes stains from stainless steel sinks.
11. Removes dirt and grime from the barbecue grill.
12. Keeps ceramic/terra cotta garden pots from oxidizing.
13. Removes tomato stains from clothing.
14. Keeps glass shower doors free of water spots.
15. Camouflages scratches in ceramic and marble floors.
16. Keeps scissors working smoothly.
17. Lubricates noisy door hinges on vehicles and doors in homes.
18. Bug guts will eat away the finish on your car if not removed quickly! Use WD-40!
20. Gives a children's playground gym slide a shine for a super fast slide.
21. Lubricates gear shift and mower deck lever for ease of handling on riding mowers.
22. Rids kids rocking chairs and swings of squeaky noises.
23. Lubricates tracks in sticking home windows and makes them easier to open.
24. Spraying an umbrella stem makes it easier to open and close.
25. Restores and cleans padded leather dashboards in vehicles, as well as vinyl bumpers.
26. Restores and cleans roof racks on vehicles.
27. Lubricates and stops squeaks in electric fans.
28. Lubricates wheel sprocket s on tricycles, wagons, and bicycles for easy handling.
29. Lubricates fan belts on washers and dryers and keeps them running smoothly.
30. Keeps rust from forming on saws and saw blades, and other tools.
31. Removes splattered grease on stove.
32. Keeps bathroom mirror from fogging.
33. Lubricates prosthetic limbs.
34. Keeps pigeons off the balcony (they hate the smell).
35. Removes all traces of duct tape.
36. Folks even spray it on their arms, hands, and knees to relieve arthritis pain.
37. Florida 's favorite use is: 'cleans and removes love bugs from grills and bumpers.
38. The favorite use in the state of New York , WD-40 protects the Statue of Liberty from the elements.
39. WD-40 attracts fish. Spray a little on live bait or lures and you will be catching the big one in no time. Also, it's a lot cheaper than the chemical attractants that are made for just that purpose. Keep
in mind though, using some chemical laced baits or lures for fishing are not allowed in some states..
40. Use it for fire ant bites. It takes the sting away immediately and stops the itch.
41. WD-40 is great for removing crayon from walls. Spray on the mark and wipe with a clean rag.
42. Also, if you've discovered that your teenage daughter has washed and dried a tube of lipstick with load of laundry, saturate the lipstick spots with WD-40 and re wash. Presto! The lipstick is gone!
43. If you sprayed WD-40 on the distributor cap, it would displace the moisture and allow the car to start.
44. It cleans motor oil off of vinyl boat seats…
P. S. The basic ingredient is FISH OIL!
Another neighbor came out and told him to get his WD-40 and clean it off. It removed the unwanted paint beautifully and did not harm his paint job that was on the truck. I'm impressed! WD-40 who knew? 'Water Displacement #40'. The product began from a search for rust preventative solvent and degreaser to protect missile parts. WD-40 was created in 1953 by three technicians at the San Diego Rocket Chemical Company. Its name comes from the project that was to find a 'water displacement' compound. They were successful with the fortieth formulation, thus WD-40. The Convair Company bought it in bulk to protect their atlas missile parts.
Ken East (one of the original founders) says there is nothing in WD-40 that would hurt you. When you read the 'shower door' part, try it. It's the first thing that has ever cleaned that spotty shower door. If yours is plastic, it works just as well as glass. It's a miracle! Then try it on your stove top..... Voila! It's now shinier than it's ever been. You'll be amazed..
Here are some other uses:
1. Protects silver from tarnishing.
2. Removes road tar and grime from cars.
3. Cleans and lubricates guitar 20 strings.
4. Gives floors that 'just-waxed' sheen without making them slippery.
5. Keeps flies off cows.
6. Restores and cleans chalkboards.
7. Removes lipstick stains.
8. Loosens stubborn zippers.
9. Untangles jewelry chains.
10. Removes stains from stainless steel sinks.
11. Removes dirt and grime from the barbecue grill.
12. Keeps ceramic/terra cotta garden pots from oxidizing.
13. Removes tomato stains from clothing.
14. Keeps glass shower doors free of water spots.
15. Camouflages scratches in ceramic and marble floors.
16. Keeps scissors working smoothly.
17. Lubricates noisy door hinges on vehicles and doors in homes.
18. Bug guts will eat away the finish on your car if not removed quickly! Use WD-40!
20. Gives a children's playground gym slide a shine for a super fast slide.
21. Lubricates gear shift and mower deck lever for ease of handling on riding mowers.
22. Rids kids rocking chairs and swings of squeaky noises.
23. Lubricates tracks in sticking home windows and makes them easier to open.
24. Spraying an umbrella stem makes it easier to open and close.
25. Restores and cleans padded leather dashboards in vehicles, as well as vinyl bumpers.
26. Restores and cleans roof racks on vehicles.
27. Lubricates and stops squeaks in electric fans.
28. Lubricates wheel sprocket s on tricycles, wagons, and bicycles for easy handling.
29. Lubricates fan belts on washers and dryers and keeps them running smoothly.
30. Keeps rust from forming on saws and saw blades, and other tools.
31. Removes splattered grease on stove.
32. Keeps bathroom mirror from fogging.
33. Lubricates prosthetic limbs.
34. Keeps pigeons off the balcony (they hate the smell).
35. Removes all traces of duct tape.
36. Folks even spray it on their arms, hands, and knees to relieve arthritis pain.
37. Florida 's favorite use is: 'cleans and removes love bugs from grills and bumpers.
38. The favorite use in the state of New York , WD-40 protects the Statue of Liberty from the elements.
39. WD-40 attracts fish. Spray a little on live bait or lures and you will be catching the big one in no time. Also, it's a lot cheaper than the chemical attractants that are made for just that purpose. Keep
in mind though, using some chemical laced baits or lures for fishing are not allowed in some states..
40. Use it for fire ant bites. It takes the sting away immediately and stops the itch.
41. WD-40 is great for removing crayon from walls. Spray on the mark and wipe with a clean rag.
42. Also, if you've discovered that your teenage daughter has washed and dried a tube of lipstick with load of laundry, saturate the lipstick spots with WD-40 and re wash. Presto! The lipstick is gone!
43. If you sprayed WD-40 on the distributor cap, it would displace the moisture and allow the car to start.
44. It cleans motor oil off of vinyl boat seats…
P. S. The basic ingredient is FISH OIL!
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