What's happening in building in Austin? The city of Austin offers a map about emerging projects in Austin on this website (5.6MB): Click here! The map shows some of the prominent projects in planning and construction. The maps are updated quarterly.

Here are some details on developments:

1. Fifth and Baylor (Austin Market District) 80,000 sqft office and retail building
2. Town Lake Park Phase 3 & 4 between Ladybird Lake and Riverside Dr
3. Legacy @ Townlake 31 story luxury high rise
4. Stubb's an all time favorite in Austin is adding another 1,500 seats
5. The so much discussed and still awaited Metro Line connecting Leander and Austin

Find more information on www.TexasCapitalRealEstate.com

Searching for homes in Central Texas? Click here!

Iliane
Texas Capital Real Estate

www.TexasCapitalRealEstate.com

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The city of Austin is offering $10,000 to help first time homebuyers buy a home.

The Down Payment Assistance Program (DPA) provides qualified, first-time homebuyers, with a zero interest loan to assist with purchasing a home located within the Austin City Limits. DPA funds cover the down payment and eligible closing costs and pre-paid expenses associated with buying a home.

The borrower may receive up to $10,000 in a deferred, forgivable, 0% interest loan for 10 years. Or, you may receive $1,000 additional for borrowers in a Mortgage Credit Certificate Program, and up to $4,999 for people with disabilities. The loan is forgiven if the borrower remains in the home ten (10) years without transferring title. Otherwise the loan is due and payable if the borrower sells, leases, transfers title, refinances, gets a home equity loan, or pays off the first lien within ten (10) years.

It's pretty straight forward!  Would you like more information?  Ask us!

Find more information on www.TexasCapitalRealEstate.com

Iliane
Texas Capital Real Estate

www.TexasCapitalRealEstate.com

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In an effort to follow suit with other green-leading cities in our nation, Austin has taken pro-active steps to increase the energy efficiency of Austin homes.

Starting June 1^st, homeowners selling their property must now disclose the energy efficiency of their property to their buyers. Here's how it works.

First, your home must qualify to need the energy audit. Your home qualifies if it meets these criteria:

• Built over 10 years ago
• Is in the Austin city limits
• Uses Austin Energy as an energy service provider

There are a few exceptions. If your property is a condo, or mobile home, you are exempt. Also, there is a long list of energy saving tasks you can perform on your property approved by the city. If you complete three of them or more, your home is exempt.

After an audit is done on a qualifying property, another audit will not be necessary for another 10 years.

If you are a seller, selling a dilapidated property to an investor who is going to do substantial remodeling to it, you can sign an agreement with the buyer in which they are responsible for submitting the proper demo/remodeling permits to the city within 6 months of the sale. This will alleviate the seller from performing an energy audit.

You must use an auditor approved through Austin energy. A list of approved auditors can be found here...

www.austinenergy.com/go/ecad

The price of an audit is not fixed, but you should expect to spend somewhere between $300 - $400.

If you have any specific questions or concerns, you can contact us or call the Energy Conservation Programs Office at (512) 974-7827.

Find more information on www.TexasCapitalRealEstate.com

Iliane
Texas Capital Real Estate

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With the first week of solid 90s + my AC is running longer an higher throughout the day. I personally like the warm climate and keep my thermostat around 80F.

With the City of Austin passing Ordinance No. 20081106-047 requiring homes, 10 years and older, with Austin Energy service, to complete an energy audit before closing a property and everybody's electricity bill rising, I think it is time for us to look at some small and simple changes that can make a difference in our energy consumption.

The City of Austin provides an Austin Energy Analysis tool which can be accessed at this URL: http://tinyurl.com/5r2l8p

Seal doors and windows:

Hot or cold air creeps in through cracks on our doors and windows. Some sources estimate that that about 35% of our energy is lost just through cracks. A energy audit profession said to me that if you add up all the cracks and openings in your house it is usually as large as a full door or even French doors standing open all day long. That is a lot of wasted energy and money.

To prevent or improve this:

• Go with a candle around windows and doors on a windy day to find out where drafts are.
• Remove old and damaged caulk and weather stripping.
• Window shades, blinds and shutters can also help.
• If your home is older replacing windows might be the way to go. Check with your window specialist on that.
• When you are purchasing a home, especially here in Texas and you are conscious about its energy consumption, check with the seller on their energy bills and make sure you don't have huge south facing windows that are not protected from direct sun light.
• Seal and insulate your AC ducts. With our ducts sitting in the hot attic, the AC has a lot of work just cooling down the hot air in the ducts to the temperature you desire. Insulating the ducts can reduce the temperature of air in the ducts. Sealing will reduce the loss of cold circulating air in the attic.

Appliances:

• Electric cooktops drain energy! If you use an electric cooktop, make sure that your pan has the right size for the burner and that you use flat bottom pans for best contact with the heating element.
• This is really a no brainer, but I see it frequently. Shut refrigerator and freezer as fast as possible, don't stand in front of it with both doors open starring at the food thinking what you want to eat. It is not good for the food and consumes lots of energy.
• Exhaust fans can help pulling humid, hot air out of kitchen and bathrooms.

Thermostats

• A programmable thermostat can help you safe a significant amount of energy. Setting it to no lower than 78F will reduce your energy bill.
• Also consider, when your family is not in the house to set the thermostat even higher than that and only cool the house to 78F when you are at home. The AC running while nobody is home wastes energy.

Fireplace

• I found this tip somewhere online, and have honestly not thought about it before but it makes sense to me.
• Unsealed fireplaces are another factor that will increase your electricity bill. If you don't use your fireplace, consider sealing it. Make sure you talk to a specialist in this field.

I hope some of these tips are helpful.

Stay cool!

Find more information on www.TexasCapitalRealEstate.com

Searching for homes in Central Texas? Click here!

Iliane
Texas Capital Real Estate

www.TexasCapitalRealEstate.com

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I am really excited about this! This coming weekend is a large dressage show in Austin and I have the opportunity to be there as a event photographer.

Come check it out if you like horses.

The show will be May 2 nd and 3 rd at Silver Hill Stables in Austin.

2608 Harris Branch Pkwy , Manor , TX ‎.

Here are some photos I took at a previous event:

You can find all my photography on www.PostHorses.com

Searching for homes in Central Texas? Click here!

Iliane

Texas Capital Real Estate

www.TexasCapitalRealEstate.com

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We all know that it is so much more difficult today to get qualified for financing. I personally agree that stricter lending guidelines were needed but think what they are doing goes a little too far.

Anyway, with less buyers out there it is so much more important to offer them multiple avenues of financing. If the seller can offer owner financing , excellent.

But also don't forget about USDA financing. We have a couple of properties that are eligible for that type of financing. We added to all our marketing information about the house being eligible for USDA financing . We also added a sign in the front yard reading:

“Own this home

$800/months

$0 down

Call: 555-555-5555”

We got a bunch of calls of this sign! Now my question is: Why are not all agents in that area advertising USDA financing with their homes? It should give them just as much traffic!

In another instance, we have a tenant that is interested to purchase the property they are renting from us. This home is also eligible for USDA financing. They are currently paying $1,400 in rent. The GFE I got from my loan officer showed that if they were to purchase the home at $212,000 the PITI will run them a little less than $1,400/months and they will be getting in with $0 down.

So sellers, please make sure especially in the current market that you are educated on various financing option when it comes to selling your home.

Searching for homes in Central Texas? Click here!

Iliane

Texas Capital Real Estate

www.TexasCapitalRealEstate.com

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Hi, I wanted to share this website with you guys: http://biznik.com/join/iliane-borge-1

Many of you might already know about it. It is a social business networking site for entrepreneurs. I think it is a combination of linked in and meetup.

The meeting I have attended just feel really good. Nice people helping each other build their business.

The Austin area is just starting, but starting to get more active. Seattle is their most active area.

Check out the page. I think you will like it!

Iliane Borge

Texas Capital Real Estate

512-366-7894

www.TexasCapitalRealEstate.com

I just recently had a former tenant client call me. She said: “I just had a lady knock on my door saying that she can help with the house.” My client of course didn't understand what was going on. The lady then told her that she can pay cash for the house and close quick. My client, the tenant of course still didn't understand.

The lady went on to explain that the property they are living in was posted for foreclosure in May. My client was stunned. They just had renewed their lease contract for another year with the property management company.

Not knowing what else to do she called me. We have worked with several foreclosures and short sale situations, but have never represented a tenant.

The following week she called her property management company that according to them didn't have the slightest idea of the foreclosure either.

We talked to the Austin Tenant's Council and several lawyers on how to handle the situation. They didn't want to risk breaching their lease but at the same time were terrified that they might get thrown out of their house in a couple of days.

Here are the suggestions we got from our lawyers. (Remember I am not an attorney so this info is just what I received. If you are in a similar situation, make sure you check with your attorney, landlord, property management company etc.)

•  My clients are bound to the lease. Leaving the house now might mean a breach of lease.

•  If the property is bought at auction by an investor there might be a chance for them to be able to stay in the house.

•  If the property goes to a new owner/bank that wants my clients out, the new owner will have to start the eviction process by sending a notice to vacate the property. At this time they can talk to the new owner and negotiate some time for them to find something new and move out without getting evicted by a judge.

You can find more information on the Austin Tenants Council website: www.housing-rights.org

For my client, the property management company was finally able to get a hold of the landlord who confirmed that the property will get foreclosed on and who also already lost a house to foreclosure a couple of months ago.

So we are off hunting for houses again.

Iliane Borge

512-961-6545

www.TexasCapitalRealEstate.com  

Hi everybody! I am kind of new to the whole blogging idea! It seems so easy bur for some reason actually doing it is every thing but easy! 

I was playing with the thought of starting to post her for a while and always found an excuse to not do it. I guess it just takes some guts to put your thoughts publicly on the net for everybody to read and respond to.

Anyway, I think this community and its members are great and I hope to share lots of information and make new contacts with people all over.

Ili