Eric's Blog

Forclosure Help

Eric Olson (Sky Realty) — Wed, 24 Sep 2008 13:51:40 -0500

I have been trying to listen to both arguments on the issue of this nearly 1 trillion dollar bail out. Can someone tell me how we are going to help things by having tax payers cover the bad debt of these banks. If I bought a hummer and couldn't pay the gas and the payment would it be right for me to ask for others to bail me out and give me a gas card and cover the payment. That's what it looks like we are asking tax payers to do. I say if these homeowners can't pay for their home then they need to sell them. If that means short sale then so be it. If it can't be sold and the bank forecloses then so be it. If the bank fails because of too much bad debt then shame on them for making risky loans. Please tell me if you see it differently. As an investor these short sales and foreclosures look very attractive. The investment in these properties will turn the market around. It will sting the banks but I don't feel bad when they made billions on the loans they made. Without risk there is no reward and I think the banks knew going in it was a risk to make loans to people in the sub-prime market.

REALTOR EMPLOYMENT IN AUSTIN and CENTRAL TEXAS

Eric Olson (Sky Realty) — Wed, 24 Sep 2008 11:47:14 -0500

These days real estate is becoming a difficult business for many agents. A few years ago I made the move to Sky Realty and am glad I did. The times are tough but the one thing that makes it a little better is the fact that here at Sky we focus on lead generation and don't do that by taking your commission. Most companies that try to offer leads also want a significant cut of your commission. I have a team of agents that all work hard and make a good living even in this slower time in the market. The way I'm able to do that is by making agents accountable to their own success. I ask that each agent contribute to web development and other marketing related areas that make us successful. Its tough to know everything and be an expert in so many diverse areas these days. I read an article the other day that said focus on your area of expertise and leave the rest to thoes who are experts in their area. If you spend each hour being the most productive you can (do what you are good at) then you will make more money. For Example, I'm not an SEO expert but others here at Sky are and I rely on them to help us generate leads. The same people who are SEO experts tend to shy away from sales so that makes it work. If the SEO guy tells us to type an article or blog or add a page to the website, we do it and this has measurable results. The leads are flowing in and I'm looking for experienced agents to join us. I have a few requirements and expect all agents to be accountable but if you are ready to work leads on a consistent basis then we should talk. I'm not going to hire hundreds of agents like some brokers or team leaders do. I want committed Realtors that want to help build something that they can be a part of. You will get leads based on your input. Just like any commission job the more you put in the more you get back. If this sounds like something you are ready to do then contact me. Eric Olson 512 300-0036.

BLOG on the RAIN

Eric Olson (Sky Realty) — Wed, 09 Jul 2008 16:20:02 -0500

I have started to blog on a more frequent basis and I have to say it works for websitepromotion. I have Blog on my brain so much now its ridiculous. Its great to talk about things relevant to an area. As a Realtor I think clients look to you as an expert in the area you work prior to SEARCHING HOMES. Its hard to know everything about an area so I enjoy reading the other agent blogs. I worry it may become a problem. Here is what I see as the major issue. If someone claims to know about something and writes a blog that others read and that blog turns out to be completely wrong then the wrong information has just been blasted all over the community. If enough people assume this to be true and correct at what point do we have to monitor the blogs? Its opinions but in our community much of the info is looked at as coming from experts. Some Realtors have no business talking about certain issues they claim to be experts in. Where do we draw the line and distinguish between hot air and cold hard facts. This might be forward looking but we should all consider how the info we are giving clients was obtained. Maybe I'm wrong but I still see this becoming a bigger problem as the Internet community grows. Please offer a suggestion if you think there is one.

Regards,

Eric Olson

Realtor

(512) 300-0036

Lost Pines and Bastrop

Eric Olson (Sky Realty) — Wed, 09 Jul 2008 15:45:51 -0500

Lost Pines resort is a great getaway just East of Autsin. The area features tall pine trees and high banks that over look the Colorado river. I visited some family that stayed at the resort a few weeks ago and was more than impressed. The resort is a great place to get rid of stress. If you enjoy golf, a day at the spa, or horseback riding then the Hyatt Lost Pines Resort has it. Near by Bastrop, Texas is a quiet community that makes it an excellent choice for thoes who want to get out of the busy city for a weekend. Its nice to drive the back roads and check out Bastrop Lake. The tall pine trees seem pleasantly out of place in the Texas Hill Country. If you want to get lost in a great place then I recommend Bastrop, Texas. If you would like to search for homes in Bastrop, TX or other places then go to this site and search.

If you would like more information on Bastrop or Central Texas just call me at (512) 905-0506

Austin Green Homes

Eric Olson (Sky Realty) — Tue, 03 Jun 2008 11:57:13 -0500

Austin has many earth minded people that are interested in building small foot print green homes. With gas at record prices its become a popular way to limit the monthly expenses. Green homes utalize the latest in ultra energy efficiency products. The idea is to become self sufficient and this has become a reality for the highest end green homes. Here in Austin there are many cost effecctive green homes. In fact my company has several listed and you can even search for homes at http://buyorsellaustinhomes.com or contact me at http://www.buyorsellaustinhomes.com/contact.php

I have a builder in South Austin that is offering a first of its kind green home community where homes are in the 275K range for 1800sqft 3 bedroom 2 bath. These homes will offer 3kw solar and rain water colection. To learn more about this just give me a call at 512 300-0036. ask for Eric

Austin Mortgage and Real Estate conditions

Eric Olson (Sky Realty) — Tue, 20 May 2008 16:39:13 -0500

I just wanted to give you a few points about the current market conditions here in Austin. First, we are not growing as fast as we were a few years ago but we are not a declining market either. In fact Austin was just rated one of the top cities in the nation for investment. Jobs are great and the prices here are still affordable. The slower growth is due in large part to the collapse of the sub-prime market. This is the part of the market that is most risky for banks and often has to do with borrowers that have less than perfect credit. Many banks made loans to buyers that should not have been approved because of their past credit issues or lack of stability. Banks are feeling the problems now and there are more foreclosures than ever.

Does this mean it's a bad time to buy? No, it is actually a great time because things are discounted. Interests rates are low because banks want the good credit borrowers to buy homes. This will help the recovery of the mortgage market. The other plus for buyers that have good credit is this is a buyers market. The sellers have fewer buyers to purchase and many sellers are facing foreclosure if they don't sell. Most smart people would rather sell at a discounted price or even at a loss (in the case of a short sale) to avoid a foreclosure. This means it is a great time to take advantage of low rates and discounted prices. Many banks offer low down payment loans and there are other mortgage opportunities for those that have middle to good credit or better. I help people find the outstanding deals. I have a team of professionals that help me with all aspects from financing to inspection to title work and closing.

What I have heard from clients that wait and save money is that the harder they try to save the farther behind they seem to get. This is because prices tend to go up over time faster than the savings most people can manage. The market has made its down turn and we are seeing lots of signs that this is the rock bottom and that with in a 9-12 months things will be back to normal. I encourage you to look at the facts and consider investing now and riding the wave up. It could potentially be very beneficial in the increased equity you see in your home. It could drastically out weigh the savings that is offset by inflation and increased prices over the next year. If you want more information about this let me know or check out my site http://BuyOrSellAustinHomes.com where you can search homes for coparison. I have been in the business for awhile and consider this a great time for buyers.

Text Messages on your Listing

Eric Olson (Sky Realty) — Wed, 30 Apr 2008 10:53:01 -0500

Recently I came in contact with a new service that has incresed traffic on my listings. The service has to do with text meggaging and a service called Drivebuytechnologies. Their site is at Http://Drivebuytech.com

and they offer a way for buyers to text a sign and find out more about your property and possibly others you have. This is a great way to get more buyers and help sellers seell faster. Many of the agents in my office have been seeing a lot of success. I have even added pages to my web site http://buyorsellaustinhomes.com

that are in the form of a type of flyer and get sent via text messaging to the buyer. This technology is the wave of the future and I recommend realtors check this out.

Regards,

Eric Olson

Bloggers on Activerain

Eric Olson (Sky Realty) — Fri, 08 Feb 2008 11:45:59 -0600

So we all blog on Activerain to get points? Does this really help you as a realtor? I realize this has become like a chat room but other than meeting other agents on Activerain can someone tell me how this will help my website? I want to develop leads as an agent in this slowing market and I was told that my website can rank higher if I blog. Is there a strategy to this? Do the total points matter? Someone please help!

Search Austin, Texas

Eric Olson (Sky Realty) — Wed, 30 Jan 2008 16:07:49 -0600

The Fed. cut rates for a second time in just over a week. This is great news for anyone thinking of buying or refinancing a property. One of the things that I will share with you is Austin is an annomoly in the housing market. Much of the country is experiencing tough times but Austin continues to enjoy a strong job market and increased home value for residents. Recent reports rank Central Texas as the top area for investment in the US. Homes are affordable still and now is an excellent time to start the ball rolling if you are interested in Austin Real Estate. I would be happy to help you with a HOME SEARCH or finding out more about Austin, TX. I also have a real time search feature and if you would like me to set that up for you just call. 512 905-0506

Thanks,

Eric Olson

Round Rock and Pflugerville Growth

Eric Olson (Sky Realty) — Thu, 24 Jan 2008 16:58:41 -0600

Round Rock Texas is growing by leaps and bounds. The completion of the new 130 toll road has sparked new interest in the area. Builders are starting new home developments in the area. Businesses like Dell and Samsung continue to grow and hire new employees. If there were a perfect time now is it. The Fed. just lowered the rate this week and a home mortgage is more affordable than ever. The strong employment opportunities make it possible for investors to easily rent homes for top dollar. Round Rock is bordered by Pflugerville, Texas and just South of Georgetown, TX. Austin Downtown is about 15-20 minutes South on IH 35. It easy to check out homes in Round Rock on the BuyOrSellAustinHomes web site. This is a great source for researching all the areas around Austin Texas including Round Rock.

Listing in Kyle, Texas

Eric Olson (Sky Realty) — Tue, 22 Jan 2008 16:17:18 -0600

2 bedroom on .46 acres with carport and large shed. Fully fenced with great views from the deck in front and back of the home.

ONLY $36,900

Level, Open 200 X 100 Acres 0.46 Disability N Restrictions N Dir Rem RECENT REMODEL W/ NEW KITCHEN & APPLIANCES, WOOD FLOORS, NEW BATHROOM W/ HARD TILE, CEILING FANS, NEWER AC,METAL ROOF, DUEL PANE WINDOWS, CARPORT, SHED, FRONT AND BACK DECKS, CONCRETE DRIVEWAY, LARGE SHADE TREES,AND MUCH MORE FOR THE LOWEST PRICE AROUND! WEB http://www.buyorsellaustinhomes.com/ Internet Y /Y /Y /Y Main Level Beds 2 Other Level Beds 0 Blocks to UT Shuttle Blocks to Metro Horses Floor Wood, Hard Tile, Carpet Master Main Y Master Desc In-Law Plan Rooms Great, Family Guest Accom N Laundry Loc Hall Kitchen Tile Counters, Breakfast Area Appl Range - Free Standing, Refrigerator, Dryer, Washer IntFt Fireplace 0 Fence 3 Strand, Goat Type, Post, Wood ExtFt Deck, Patio-Covered, Outbuildings, Private BackYard Gated Community N Pool N Trees Medium (20 Ft - 40 Ft) Amenities Utilities Information Heat Central Heat Air Cond Central Air Utilities Propane, Electric Water Other Sewer Septic on Property Energy Ceiling Fan(s), Double Pane Windows Financial Information HOA $0 HOA Includes HOA Trans Fee Tax Year ¤2007 Tax Rate ¤ 2.0315% Est Taxes ¤$453 Actual Tax Special Assmnt No Exemptions Homestead Sell Cash, Conventional, FHA, VA Title Seller Pref Title Co Alamo Title 512 231-1500 Buyer Incentives Type of Lien Non-Assumable Possession Funding Office Information Listing Agent 549395 Eric Olson Agent Phone 512-905-0506 Fax 512-366-9993 List Date 01/16/2008 Listing Office 122801 Sky Realty Office Phone 512-342-8744 Ex. Exp Date 01/15/2009 2nd Listing Agent LA2 Phone Owner ¤James Mcfarland Owner Phone 512 295-5247 Own Other Ph Occupant Owner Occupant Phone 512 295-5247 Sign Y Intermediary Y Lockbox Lockbox/ Gate Call First - Go, Go Bonus to Buyers Agent ADOM 6 0.00% Buyers Agent 3.00% Access Instr See Remarks CDOM 6 Agent Email eric@skyrealtyaustin.com OLP $36,900 -- Information Deemed Reliable But Not Guaranteed. Buyer Must Verify. Prepared by: Eric Olson Copyright: 2007 Austin Board of REALTORS(R), All Rights Reserved. Tuesday, January 22, 2008 03:53 PM 6052560 Area: ¤HH Region Kyle/Buda/San Marcos Status A 306 Summit Dr $36,900 N/A JrHS Wallace 9/Hs N/A SrHS Lehman Images 12 General Information Dining Rooms 1 Dining Kit/Din Combo Beds 2 Full Baths 1 Half Baths 0 0 Sqft ¤672 / Tax Record $/SF $54.91 Vertical Siding, Single Wide, Frame 1 Car Carport Waterfront N YrBlt 1985 / Resale Panoramic, Hill Country, City Faces East Cond Builder Name LotDes LotSize IH-35 to Kyle Pkwy, go East on Bebee road & stay Left onto Goforth, then Left onto Summit-its the blue house down the hill on the Left.

Kyle Texas Home for $36,900

Eric Olson (Sky Realty) — Tue, 22 Jan 2008 16:01:18 -0600

I have a home that I just listed in Kyle, Texas for $36,900. Yes I said $36,900!!! Its on a 1/2 acre and was recently remodeled. Its a small but comfortable place with bedrooms at oposite ends of the home. The lot is aprox. a 1/2 acre and has a septic system in place. The home also runs on propane and public water. If you want a low cost home that could give you payments of $300 per month this is it. Check out my Home Search page to see more places in Central texas.

If you are interested in investment this home may be a way to make some money each month. Its only 36,900 and could be a quick rental for the right person. Contact Eric Olson for more details on this or other properties in Central Texas.

New Web Search for Homes in Austin, Texas

Eric Olson (Sky Realty) — Tue, 22 Jan 2008 15:40:40 -0600

I just set up a new web site that has some great Search tools for help finding a home in Central Texas. Austin Texas continues to grow and clients can log into my site and find properties or homes in the Austin area that match exactly what they want. This search tool is great because it will email the results. The days of driving around to find a home are long gone. Everything a buyer needs is on the web. Virtural tours are even included and can allow a buyer the ability to walk through a home with out leaving the comfort of their living room. Its amazing how technology has helped speed up our life. If you or someone you know wants to find a home in Austin, TX then send them to my site to start looking. If you notify me that you found me on Activerain I will send you a referral or rebate you money at closing. I enjoy helping people with all their real estate needs. If you want to see my search page go to this Home Search link and check it out. I encourage you to link to me if you have a web site thats related. I can be reached at (512) 905-0506

Real Estate Searches

Eric Olson (Sky Realty) — Mon, 21 Jan 2008 18:37:52 -0600

There are lots of searches on the net these days. It's easy to find everything from tooth brushes to trucks on the web without leaving your home. In the past few years many home buyers are searching for their home on the web. It makes sense to research the area and prices on the web since you can save tons of time. Gas is over $3.00 per gallon and it could also cost a small fortune to see homes by driving. Driving just doesn't make sense and it is the old way of going about it. Austin, Texas has many areas that are hot right now and its easy to search for homes on several sites. If an investor were to take a look at say the Round Rock area homes they could see homes that are priced very low and potentially high cap. rate. Round rock is great because there are large employers there like Dell and Samsung. Finding a qualified long term renter is fairly easy. The rental market occupancy is high so that helps drive the rental prices up too. Its a great place to look and ranks high on most short lists. The other up side to the Round Rock Home market it the rapidly rising property value. As the housing market comes back in the next few years the savy investors of today will likely reap huge returns. ROI models for Round Rock Texas and Austin Texas are incredible. Take time to do a few searches on the site adove and see just how much homes are going for in Round Rock and Austin. Prices are still low but don't wait too long. The stock market is dropping daily, wouldn't you rather invest in a better market like housing?

Austin

Eric Olson (Sky Realty) — Fri, 11 Jan 2008 13:08:24 -0600

Austin is larger than many think at about 750,000 residents in Austin proper and over 1 1/2 million residents in the surrounding area. Austin is the Capitol of Texas and while large we still have that small town feel in many of the neighborhoods and suburbs. You could say we have the best of both worlds here in Austin. The Austin downtown skyline is growing rapidly too and has become a unique and very well know back drop on popular movies and television shows. New Austin condo developments make it possible for those who prefer the big city life and convience of downtown living. You can now own a high rise condo in the heart of the business and financial district of Austin, Texas. Call us to find out how easy it is! 512 905-0506

If you prefer you can you can check out more information at http://buyorsellaustinhomes.com

Cedar Park Real Estate Information

Eric Olson (Sky Realty) — Thu, 08 Nov 2007 16:38:34 -0600

The Latest News for Cedar Park Texas real estate is taxes in Cedar Park may increase slightly to pay for much needed roads, parks, fire stations, police stations and a new city hall. As of November 01, 2007 the City of Cedar Park prepares to develop its remaining land, residents must decide how much they want to pay to accommodate the growth by voting on the four part bond package totaling $81.7 million. $2.7 million of the bond money would go to rebuilding the city's first fire station which was built in 1972 for the city's volunteer fire department. The facility is outdated for today's firefighting squads. The five firefighters on duty at any one time in Station 1 share a dormitory type bedroom. The department is all male, but separate facilities are needed for any future female firefighters. More space is needed in other areas like the kitchen. The proposition also includes about $1 million to purchase land for a fifth fire station, which would be on the northern side of town. Cedar Park is just one of the Popular Austin Real Estate Areas that people are relocating to. With this growth it will continue to be in the top ten cities to raise a family. Family Circle magazine just listed Cedar park with this designation. If you want to find out more about Cedar Park contact Eric Olson at Sky Realty. (512) 905-0506.

Energy efficient homes in Austin Texas

Eric Olson (Sky Realty) — Thu, 08 Nov 2007 15:40:39 -0600

These days there are a lot of people looking for energy efficient homes. These homes save you money everyday and put money in your pocket. Energy efficient homes in Austin Texas are on the rise. Its easy to see why this is popular and so many in the Austin Real Estate Market are going that direction. If you want to search for homes in the Austin Texas Real Estate market then go to this site and see all the great Green Building in Texas that is going on. You can also find out more about Green Building at this site. Real Estate agents in Austin Texas that understand green building will save you money both now and in the future. Find an agent that cares adout your future. Eric Olson at Sky Realty is experienced in the Austin Real Estate market and can make your experience an excellent one.

Cedar Park Texas Real Estate

Eric Olson (Sky Realty) — Thu, 08 Nov 2007 14:50:30 -0600

Cedar Park Texas has a rich history and a thriving Real Estate market. In recent years there has been tremendous growth. In the area of Cedar Park there are many things to see and do. The small town feel of Cedar Park Texas is why many pick it as their new home when relocating from other parts of the country. Cedar Park Texas Real Estate is hot right now and if you want to know more about it this site tells about the history of the city and Leander Texas which is just a few miles Northwest of Cedar Park Texas.

If you want to find out more information about Austin Texas and Popular Austin Real Estate Areas. This link is helpful. Take a few minutes to see what these areas are all about.

Avery Ranch Texas Real Estate

Eric Olson (Sky Realty) — Thu, 08 Nov 2007 14:34:40 -0600

Avery Ranch Texas is not just a typical new community. The rich history of Avery Ranch Texas is evident at every turn. Avery Ranch is the location where back in the day stage coach outlaws and other unsavory characters, Indian tribes and Cowboys on the old Chisolm Trail all called home. They have all left their marks on the landscape. Arrowheads and limestone markings from Cherokee, Comanche and Tonkawa Indian tribes can still be found in the Avery Ranch area. Check out the remnants of the fort built by the Spanish in the 1800's or hike the trails of the hill country. History is yours to enjoy in Avery Ranch.

Residents of Avery Ranch Texas Real Estate Areas can enjoy modern beauty along with this rich history. Avery Ranch has 17 acres of community centers which offer countless chances for fun and recreation. The main Avery Ranch community center has a 25 meter pool, tennis courts, basketball facilities, volleyball courts and an outdoor amphitheater. If you prefer the outdoors and are adventerous you're sure to appreciate the area lakes along with the hiking and biking trails that connect Avery Ranch with nearby communities.

Schools in Avery Ranch Texas are great and you can go to this link and check out the details of local schools in the Avery Ranch Texas Neighborhoods.

News about the interest rates

Eric Olson (Sky Realty) — Thu, 08 Nov 2007 12:57:22 -0600

I was listening to Sirius radio today and the general feeling among the experts is the interest rates will hold steady for awhile. Austin seems to be defying the odds and continuing to grow. The rates are very low and buyers continue to purchase homes here with the explosive job growth. Some of the hot areas here include Round Rock, Leander,and Hutto. These areas have reasonable prices with plenty of selection. New home builders as well as resale homes are in good supply. I don't expect the low prices to continue for ever. We have seen some big jumps in the last few years in these areas. Investors would be wise the buy and hold as rentals for a couple years. I see some good double digit returns by following this strategy. If you want to find out more about the Austin market this web site is a good start.

Austin Realtor

Eric Olson (Sky Realty) — Thu, 08 Nov 2007 12:13:19 -0600

THE AUSTIN MARKET IS VERY DIVERSE AND HAVING A REALTOR THAT UNDERSTANDS MANY DIFFERENT NEIGHBORHOODS IS VERY IMPORTANT. CERTAIN AREAS ARE Hot Areas RIGHT NOW AND ERIC CAN TELL YOU ABOUT TRENDS THAT COULD RESULT IN SOME GREAT APPRECIATION IN YOUR NEXT HOME. Austin Neighborhoods HAVE MANY THINGS LIKE SCHOOLS AND COMMUNITY ACTIVITIES THAT PARENTS LOOK AT BEFORE BUYING. ERIC CAN HELP YOU SORT THROUGH THIS WHEN YOU SEARCH FOR THE PERFECT PROPERTY. SELLING IN THESE AREAS CAN BE VERY COMPETITIVE AND CHALLENGING. A KNOWLEGABLE REALTOR LIKE ERIC WILL HELP YOU SELL QUICKLY AND AT THE BEST POSSIBLE PRICE. IF YOU ARE MOVING TO AUSTIN FROM OUT OF STATE ERIC CAN SEND YOU PICTURES, LOCAL AREA AMMENITIES AND STATISTICS THAT CAN HELP YOU AND YOUR FAMILY DECIDE ON THE BEST AREA. ERIC HAS HELPED MANY BUYERS GET INTO THEIR NEW HOME FOR ZERO OR VERY LITTLE OUT OF POCKET. FIND OUT HOW TO Prequalify NOW. CREDIT ISSUES ARE NO PROBLEM FOR HIM EITHER. HIS TEAM OF MORTGAGE PROFESSIONALS WILL HELP GET YOUR LOAN APPROVED QUICKLY AND AT A GREAT INTEREST RATE. FIRST TIME BUYER OR LONGTIME INVESTOR YOU OWE IT TO YOURSELF TO CALL ERIC ABOUT ALL YOUR REAL ESTATE NEEDS!

THANKS!

Internet Marketing

Eric Olson (Sky Realty) — Thu, 01 Nov 2007 22:04:17 -0500

http://www.buyorsellaustinhomes.com/

I have started using internet market almost exclusively this year as my source for new leads. It has paid off! Not too much invested for the return. I reall see this as a way to get me through the winter and this slow spell we are seeing. The buyers and sellers seem to be more educated and demand a high level of service which is what I provide. I'm not a discount realtor! they know what their service is worth so I have no complaints. Has anyone else recently focused the bulk of advertising on the internet?

Check out my site http://www.buyorsellaustinhomes.com/ and tell me what you think.

Austin Texas Real Estate

1031 Exchanges

Eric Olson (Sky Realty) — Sun, 19 Aug 2007 11:18:09 -0500

1031 Exchanges which are also called tax deferred exchanges. This means the tax basis from the sale of a property is not eliminated but carried over to the property that is purchased. Tax deferral benefits of exchanging are only allowed on investment property but Section 121 of the code has a permanent tax deduction that can be taken on the sale of a primary residence. As long as a taxpayer has lived in a property for a total of two years out of the previous five, they can claim a $250,000 deduction ($500,000 for married people) from their income tax. With planning it could be possible to combine these two tax strategies to exclude the capital gains from the sale of investment property. If an exchanger acquires a property, rents it for a number of years, moves into the property as a primary residence for at least 2 years, it is possible to then sell that residence and exclude up to $250,000 of gain ($500,000 if filing jointly) from their taxes. Late in 2004 Section 121 was revised to add a 5 year holding period before a taxpayer can exclude gain under Section 121 when selling a primary residence that was acquired initially as investment property in a 1031 Exchange. So if the property acquired in the 1031 Exchange is rented for three years, then used as a primary residence for two years, the taxpayer should be able to sell it and exclude up to $250,000 of the gain pursuant to Section 121. The residence was owned for a minimum of 5 years and used as a primary residence for 2 out of the last 5, meeting all the requirements of the updated tax law. So with careful planning the tax deferral of 1031 Exchanges can be converted to permanent tax exclusion by combining these two tax strategies. I'm not a CPA but this was the explanation I got from a 1031 exchange company out of San Antonio, Texas. It makes sense and could be a real asset to investors. Let me know if anyone has tried this.

SEARCHING for a HOME in TEXAS

Eric Olson (Sky Realty) — Sun, 19 Aug 2007 11:04:25 -0500

If you are searching for a home in Central Texas I can help you with a simple search tool I put on my web site. It allows you to get emails of homes that matcch your search criteria. If you haven't looked lately Austin Texas is a thriving market that is a contradiction to the rest of the country. We continue to enjoy a great real estate market. If you're looking for an investment then Austin may be exactly where you need to look. Go to http://buyorsellaustinhomes.com/ to search homes. Another helpful tool is the Local School Information link that can tell you about the schools around Austin, TX.

Hurricane in Texas

Eric Olson (Sky Realty) — Sun, 19 Aug 2007 10:52:23 -0500

Well it looks like we're in for some more weather here in Austin. Hurricane Dean is approaching and looks like it will hit South Texas on Wednesday. I have an agent on my team that is the reserves and his unit just got activated. They are going to South Texas to brace for the hurricane. I guess its being proactive rather than reactive like in the case of Katrina in New Orleans. It sucks since this agent is just getting some real business and then he gets called away. I appreciate the job he's doing and I will cover for him while he's away. With any luck we'll get his listing sold and complete the homes already under contract. 3744 Cerulean Way in Round Rock, Texas is the listing he needs sold if anyonecan help. Its priced well and a great value. If you would like to search more homes go to http://www.buyorsellaustinhomes.com