Austin Realtors selling Austin Condos, Homes and Real Estate For Living The Good Life » Real Estate http://www.goodlifeteam.com Wed, 08 Feb 2012 16:42:40 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 East Riverside Corridor – So It Begins… http://www.goodlifeteam.com/austin-condos-and-developments/the-riverside-grove/east-riverside-corridor-so-it-begins-2/ http://www.goodlifeteam.com/austin-condos-and-developments/the-riverside-grove/east-riverside-corridor-so-it-begins-2/#comments Thu, 26 May 2011 03:11:56 +0000 Goodlife http://www.goodlifeteam.com/?p=5998 An estimated $30 million of planned infrastructure was filed last month by Austin-based Cypress Real Estate Advisor Inc, and that’s only the first phase of it! There’s 50 acres of development planned in the Lakeshore PUD off of Riverside Dr near I-35. Now what I will say next may offend some, but here it is: [...]]]>

An estimated $30 million of planned infrastructure was filed last month by Austin-based Cypress Real Estate Advisor Inc, and that’s only the first phase of it! There’s 50 acres of development planned in the Lakeshore PUD off of Riverside Dr near I-35. Now what I will say next may offend some, but here it is: the plan to demolish HUNDREDS of existing apartments in the Lakeshore area begins this summer!  So get ready for the construction of the new and improved 250-unit, four-story building with decked out ground retail which begins this winter. Expect occupancy by the end of 2012. The entire 50-acre site has potential for 1,200 apartments, 87,000 square feet of retail space, and 10,000 square feet of restaurants. I might just get back in the restaurant business.

If you haven’t already read about the East Riverside Corridor, you can visit the official site here at http://www.ci.austin.tx.us/urbandesign/riversideplan.htm

Riverside Drive is one of the few places in Austin that is being pumped with tax dollars. Why Riverside? I’m no city planner but I can tell you there really isn’t anywhere else to go and Austin is growing fast! If you want to be close to downtown and you want something affordable (umm like all of Gen Y perhaps?) then East Riverside is where it’s at.

Oh and let’s not forget the Urban Rail for Riverside Drive was passed and it IS happening. It is not speculative. It is not wishful thinking. It is happening and if you’re not in with it, you’re behind. East Austin is changing dramatically and it’s starting yesterday.

There are two major transit centers for the rail that are 15 minute walks to either development. Women, welcome to a new world of shopping. Men, well…. Austin’s not one of the top cities in the country for singles for no reason. I’ll leave it at that.

So let’s talk about home ownership. I’m really getting tired of the rent vs buy argument. I’m going to end it right here by making it very simple. Follow these steps

  1. Are you leaving Austin soon or is your city of residence uncertain for the next few years? If yes, proceed to step 5. If no, go to the next step
  2. Is your credit score less than 640? If yes, proceed to step 8. If yes, proceed to step 5. If no, go to the next step
  3. Are you unemployed? If yes, proceed to step 5. If If yes, proceed to step 5. If no, go to the next step
  4. Do you understand that Austin is one of the best (if not THE best) city in America to purchase a home. If yes, Buy already. You’re done. Call me 512-879-1937 and we’ll talk details If no, heard of Forbes? Read this http://www.forbes.com/2008/07/14/housing-buyers-list-forbeslife-cx_md_0714bestbuy.html and then proceed to step 6
  5. Don’t buy a home! Well… at this point we’ve established that you just can’t. Don’t worry, just hang in there and fix what you need to fix. In fact, call us at GoodLife Team 512-892-9473 … we’ve got magic
  6. Read it again: http://www.forbes.com/2008/07/14/housing-buyers-list-forbeslife-cx_md_0714bestbuy.html and proceed to step 7
  7. It’s time to buy. You’re done. If you seriously have any other concerns at this point, I am happy to obliterate them for you at 512-879-1937.
  8. You could possibly get an FHA if your parents or anyone else for that matter are willing to co-sign. It’s actually a pretty smart move on their part considering the investment potential of Austin. Go to Step 6, talk to your folks, friends, etc. If they say yes, go to step 7. If no, go to step 5.
  9. This is an unnecessary step and I’m not sure how you got here, but please don’t tell me that you heard on TV somewhere that it’s a terrible time to buy. Yes, this is true for 95% of the country. But this is like saying the average temperature in the United States is 72… that doesn’t really help. Real estate is very very micro and you have to understand the local market. Austin is a very weird oasis. Enjoy it.
Here’s the full article posted in the Austin Business Journal:

So what does this mean to you as a home owner? When private developers come in like this and begin renovating and making drastic changes, demand soars. When this happens, property value follows along with it. Too simple? Just look at the SOCO area of Austin. You think this was always as hip as it is now? No. SOCO used to be an area that you just didn’t go to. It was just too “weird.” Over time as the population grew, it became one of the rare gems that makes Austin what it is, and the Riverside corridor is next.

The Urban Rail is planned to reach all the way to Bergstrom International Airport with 2  more major transit centers: 1 at Pleasant Valley and the  other at the intersection at Ben White/71. Parcels within 1/2 mile from the transit centers will be given development bonuses such as higher density and height limits. This is to incentive private developers to jump in on the opportunity. So let’s say you buy this summer of 2011 at Riverside Grove for example. You can get an 1,100 square foot 2/2.5 Townhouse for $159,900. That’s about $1,100 a month (and it’s fixed assuming you have a 30 year fixed FHA … oh by the way that might not last either but that’s another story). Oh 5 years go by and BAM everyone wants to be close to these awesome hip centers, and well… there isn’t much there since there’s only so much supply. Guess what? Your value just went up and now you can sell for $179,000 (hypothetically speaking). I think that’s a pretty good bet. You could break even and still be doing quite well.

The point is… if you rent at 1,100 a month (AMLI is about $1,400 for a 1 bedroom with 893 square feet) for 5 years (5 X 12 X 1,100 = $66,000 down the hole). You will never get that $66,000 back and at this point, demand is so high that rates have gone up too. So you’re just stuck in the same never ending circle. Or you could actually have spent less and built equity (equity = your value of ownership). I think you have your answer.

Related articles
Enhanced by Zemanta

]]> http://www.goodlifeteam.com/austin-condos-and-developments/the-riverside-grove/east-riverside-corridor-so-it-begins-2/feed/ 0 The Austin Modern Home Tour comes to East Austin! http://www.goodlifeteam.com/austin-neighborhoods/east-austin/the-austin-modern-home-tour-comes-to-east-austin/ http://www.goodlifeteam.com/austin-neighborhoods/east-austin/the-austin-modern-home-tour-comes-to-east-austin/#comments Mon, 24 Jan 2011 18:36:36 +0000 Goodlife http://www.goodlifeteam.com/?p=5378

1400 Holly Street in Austin, Modern Home for Sale! on Prezi

]]> http://www.goodlifeteam.com/austin-neighborhoods/east-austin/the-austin-modern-home-tour-comes-to-east-austin/feed/ 0 The Real Estate Brokerage of the Future http://www.goodlifeteam.com/future-of-real-estate/the-real-estate-brokerage-of-the-future/ http://www.goodlifeteam.com/future-of-real-estate/the-real-estate-brokerage-of-the-future/#comments Thu, 17 Dec 2009 23:57:56 +0000 Goodlife http://www.goodlifeteam.com/?p=2715

In January I will be flying to New York to speak about The Real Estate Brokerage of the Future at the Inman News’ bi-annual Technology Conference. Being recognized as one of the few in the industry who is building a model to take care of the expectations of the new tech-savvy real estate customer, I will be sharing with a national audience what we are innovating here at The GoodLife Team in terms of inventing new tools and implementing cloud-based technologies that are not yet understood by others in the industry. My message is one that I think is critically important to Brokers, agents and consumers alike. For all, real estate of the future will look much different than real estate of the past. Beyond the change in the economy – there has been a fundamental shift in consumer buyer behavior and how we, as consumers, make choices. And this shift will fundamentally change the way that you interact with your Austin real estate agent. The good news – I see the real estate brokerage of the future putting you, the consumer, squarely back in the center of the transaction. Technology-Centric & Customer-Obsessed What do I mean by that? Well, as I mention in my recent interview with Inman News, Real estate is not immune to the fundamental shift in consumer behaviors and expectations. If real estate agents and brokers are going to thrive in this new market, they must be technology-centric and customer-obsessed. Brokers must offer their agents leading technologies, fundamental and specific marketing technology-based strategies and execution, back-end support, quality control and performance measurement in order that the real estate agent has the means to offer you what you should expect in today’s web-based market place. Sadly, most brokers, and their agents, are neither technology-savvy nor customer obsessed. As a result, most buyers and sellers today do not think they are getting an equivalent value for the price they pay their agent and the agent’s broker. Yes, it’s time to demand more from your real estate agent. Marketing and selling your Austin home requires exposure beyond just the MLS. Finding your Austin home requires knowledge beyond being able to search up a 3 bedroom/2 bath in South Austin. All Agents are not the same Keep in mind, if you are thinking about buying or selling in the near future, who you hire matters. ALL AGENTS ARE NOT THE SAME…and the gap is getting even wider. Choose wisely. If it isn’t the GoodLife Team, make sure that your Austin real estate agent is technology-centric and customer-obsessed. And that they can demonstrate both. Look at their website. Do they blog? vlog? Are they using social media to assist you in selling your home? How? Do they answer their phone or do you have to leave a message? How long does it take them to call you back? These are just a few questions to help you start noticing the differences in agents. Helping you, the customer, is a privilege I am grateful, daily, for the trust you put in me and my company to help you with your most important asset. It is a privilege to be able to serve you. As I told Inman, ‘I see that people at the top of this industry are so far removed from the public and their needs, as well as the needs of their agents.’ This ultimately causes them to lose sight of you, the customer, and trickles down through the organization. It’s too easy for these big box brokers (as I like to call them) to treat you like a dollar sign. Moving into the future, I do not think you will tolerate this. I invite you to read my interview with Inman News in it’s entirety at http://glt.bz/inman. I will continue to lead the charge in building the GoodLife Team to be the Real Estate Brokerage of the Future and NEVER LOSE SIGHT that I do it all for you, my customers. As an end to this blog-I would like to ask …. As we move into the real estate world of the future, what would like to see differently in terms of what we as an industry offer you, a home buyer and/or seller?]]> http://www.goodlifeteam.com/future-of-real-estate/the-real-estate-brokerage-of-the-future/feed/ 1