AustinTXEstates

If you’re used to not voting when it isn’t a big ticket year, or if you’ve never voted before, skipping your chance to vote this year may be a mistake you’ll be paying for, for a long time. Some of the propositions on Texas’ ballot this year deal directly with home values and appraisals, and it’s important that we understand what we’re voting for and why, even if someone would still decide it’s not important and not go. Even if you don’t own a home now, it may be an issue that affects you in the future. Here is a re-print of October 16th’s blog.

November 3^rd’s ballot in the State of Texas won’t have the same hot button races as a presidential election year, but the propositions on it will directly affect Texas homeowners and their money, right now and in the immediate future. The language can be tricky and there is misleading information floating around from misinterpretation, but it is important to understand the proposed amendments and vote.

Gabriel Lopez wrote a great column translating the amendments into simpler terms. The Houston Chronicle also offered an interpretation. There are a few amendments in question, namely, Propositions 2, 3, and 5.

Proposition 2

As it will appear on the ballot: “The constitutional amendment authorizing the legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property’s value as a residence homestead.”

What it means: We’ve talked about the increases in appraisal rates in the state. Currently, “the central appraisers are using a practice called ‘highest and best use,’ which allows a property to be valued on potential use rather than current use,” Lopez writes. In other words, if this amendment passes, if an area is experiencing rapid commercialization, the land can’t be valued for the potential value – it will mandate “that a residence be valued only as a residence, regardless of what the ‘highest and best use’ is.”

“This amendment is intended to protect less affluent homeowners from situations in which rapid commercialization in their area threatens to drive up property taxes unreasonably year after year,” writes the Chronicle. “…such development can occur quickly and with potentially difficult consequences for homeowners. The measure would be strictly limited to residences qualifying for the home-owners exemption, thus eliminating the potential for use by speculators.”

Proposition 3

As it will appear on the ballot: “The constitutional amendment providing for uniform standards and procedures for the appraisal of property for ad valorem purposes.”

What it means: This amendment is another reaction to the state appraisal policies leading to inflated rates recently. It would require uniformity in appraisal processes statewide, allowing the state to have oversight and enforcement over every district. “This is important because state funding for public schools is based on the taxable property in each school district,” says Lopez.

Writes the Chronicle: “Unfortunately, the proposition has been plagued by Internet rumors that it is a back-door method to introduce a statewide property tax. It is no such thing, assures state Sen. Tommy Williams, R-The Woodlands, an author of the amendment. Williams says it is simply a means to achieve uniformity of appraising methods in the interests of more equitable appraisals in all areas.”

Proposition 5

As it will appear on the ballot: The constitutional amendment authorizing the legislature to establish a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations.

What it means: The board of equalization would hear appeals from homeowners regarding their home’s appraisal value. It can be difficult to find qualified individuals for these boards in rural and less populated counties; this amendment would assist them. “It is written to be ‘permissive,’ which means a larger entity cannot force a smaller one to participate without its consent,” says the Chronicle.

Along with the Houston Chronicle, The Texas Board of Realtors endorses “yes” votes for propositions 2, 3, and 5. A quick, concise flyer is available here.

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Lake Travis, Montandon Ranch

Lake Travis has risen even more since our update yesterday; it is now at 645 feet and still rising. You can see up-to-the-minute conditions here.

With Lake Travis up and the creeks flowing again, now is the perfect time to buy. Ranch sales are still down and sellers are extremely motivated to move their property. With the recent rains and forecasts for more rain throughout the coming months, once spring time rolls around and the market really gets going sellers might not be as motivated to sell. There are still great rates and good terms for land deals. Capital Farm Credit is offering 30 year term and 5 year fixed rates at 6.25% with 20% down. Give us a call and we can get you in touch with a loan officer there.

Featured Properties on Lake Travis

Rancho Estacia A luxurious waterfront gentlemen’s ranch on Lake Travis. A 6,694 Sq Ft home, guest cabana, stables and 700 ft of Lake Travis Waterfront make this Mediterranean oasis with Texas ranch comforts.

Rivercliff Frank Lloyd Wright architecture & contemporary interiors create this stunning masterpiece on bluff overlooking Pedernales Arm of Lake Travis. Can be combined with a 32 acre equestrian center and guest home to create your dream ranch.

The Montandon Ranch Looking for deep, Lake Travis waterfront? 171 Acres with 1,800 ft. of Lake Travis waterfront. Paved roads, electricity, 3 wells. One of the Largest Lake Travis Pieces on the Market.

100-459 Acres on Lake Travis Gently sloping terrain to the Lake, high bluffs overlooking the Lake, draws, pecan bottoms, spring fed creeks and pond.

0 Bee Creek Road 46.66 Acre Prime Commercial Corner Near New Lakeway Development – The Highlands. 1,000 ft. of frontage on Bee Creek Cove of Lake Travis. Panoramic Lake and Hill Country Views.

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Lake Travis

As a result of the heavy rains last week in the Austin area, the Lake Travis levels have risen six feet. Currently, the lake’s level is just over 642 feet, with more rain already coming today.

It is still, however, 24 feet lower than average, and 39 feet lower than completely full. “El Nino should bring us more rain between now and the spring,” says LCRA Supervisor David Walker, “we’d need ten more floods like this one to do the trick.” The National Oceanic and Atmospheric Administration’s 2009 Winter Outlook and Climate Predictions expect El Nino to dominate weather patterns, bringing a cooler winter and above average precipitation for Texas, by an increase of 40%.

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Eagles Glen

Open House Sunday, October 25, 1-3 PM.

1809 Eagles Glen Cove, Steiner Ranch.

Former model home backing to University Club Golf Course in exclusive section of Steiner Ranch. Hardwood floors, soaring ceilings, huge great room, open gourmet kitchen and true media room make this an exceptional showplace.  The back of the home features a negative edge pool and spa with extensive decking looking to golf course and the surrounding Hill Country. Walk to University Club featuring golf, tennis, restaurant, fitness room and more. Exemplary Leander ISD schools. 4700 Sq Ft, 5 bed/5.5 bath, $899,000. See the listing here.

Front

This contemporary Texas “Farmhouse” was designed by Hobson Crow & custom built by Decker Ayres. It has original Texas homestead feel with contemporary design & modern features in a world class golf community.

4,192 square feet on 1.2 acres, the 4 bed/4.5 bath home is located near the 11th hole of Barton Creek Lakeside Golf Course. It is completely fenced, with limestone privacy wall and big antique mesquite doors welcoming guests. The home has a white Texas limestone exterior and a clay tile roof.

Living

The interior features tall, beamed ceilings, hardwood Texas pecan floors, and stained concrete floors throughout. The great room, at entry, has a limestone fireplace, two siting areas, and Texas Pecan wood panel walls with hidden storage/media closet and leaded windows showcasing the grounds. The open dining area has Texas pecan built-ins and door leading to private patio perfect for breakasts in the cool fall mornings. The gourmet kitchen features stainless GE Monogram appliances, Dacor range, Texas pecan hardwoods, Vermont soapstone counters and big breakfast area.

Master Suite

The main floor master suite features its own stone fireplace and sitting area with built-in bookshelves and big windows for lots of natural light. The master bath with double vanities, travertine floors, huge walk-in closet with dressing area, jetted tub and separate double shower.

Guest areas include loft guest suite with hidden storage behind Texas pecan paneling, full slate tile bath, large closet, desk/office area with big windows looking to grounds and Hill Country views. The guest home features exterior walls of stone and cypress, interior walls of painted pine with batts and sheetrock, concrete floors, living area with kitchenette, cypress wood paneling and wall of windows looking manicured grounds, and 2 bedrooms each with full bath.

Patio

The main home also features utility room with concrete floors, ice maker and 1/2 bath; 3 car garage with lots of storage; big wraparound patio with limestone fireplace and built-in BBQ; and covered breezeway leads to detached guest home built to look like original Texas farmhouse.

The property showcases a firepit and flagstone sitting area, saltwater pool and spa surrounded by mature oaks and flagstone decking and wrought iron fencing, several gardening areas among manicured grounds, and limestone workshop/storage.

Pool and Spa

The neighborhood features gated, guarded entry, golf course, tennis courts, club house, recreation facilities, hiking/jogging paths, private parks, access to Lake Travis. Located in Spicewood, only 15 minutes to new Hill Country Galleria, 35 minutes to downtown Austin. See more information and virtual tour here.

November 3^rd’s ballot in the State of Texas won’t have the same hot button races as a presidential election year, but the propositions on it will directly affect Texas homeowners and their money, right now and in the immediate future. The language can be tricky and there is misleading information floating around from misinterpretation, but it is important to understand the proposed amendments and vote.

Gabriel Lopez wrote a great column translating the amendments into simpler terms. The Houston Chronicle also offered an interpretation. There are a few amendments in question, namely, Propositions 2, 3, and 5.

Proposition 2

As it will appear on the ballot: “The constitutional amendment authorizing the legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property’s value as a residence homestead.”

What it means: We’ve talked about the increases in appraisal rates in the state. Currently, “the central appraisers are using a practice called ‘highest and best use,’ which allows a property to be valued on potential use rather than current use,” Lopez writes. In other words, if this amendment passes, if an area is experiencing rapid commercialization, the land can’t be valued for the potential value – it will mandate “that a residence be valued only as a residence, regardless of what the ‘highest and best use’ is.”

“This amendment is intended to protect less affluent homeowners from situations in which rapid commercialization in their area threatens to drive up property taxes unreasonably year after year,” writes the Chronicle. “…such development can occur quickly and with potentially difficult consequences for homeowners. The measure would be strictly limited to residences qualifying for the home-owners exemption, thus eliminating the potential for use by speculators.”

Proposition 3

As it will appear on the ballot: “The constitutional amendment providing for uniform standards and procedures for the appraisal of property for ad valorem purposes.”

What it means: This amendment is another reaction to the state appraisal policies leading to inflated rates recently. It would require uniformity in appraisal processes statewide, allowing the state to have oversight and enforcement over every district. “This is important because state funding for public schools is based on the taxable property in each school district,” says Lopez.

Writes the Chronicle: “Unfortunately, the proposition has been plagued by Internet rumors that it is a back-door method to introduce a statewide property tax. It is no such thing, assures state Sen. Tommy Williams, R-The Woodlands, an author of the amendment. Williams says it is simply a means to achieve uniformity of appraising methods in the interests of more equitable appraisals in all areas.”

Proposition 5

As it will appear on the ballot: The constitutional amendment authorizing the legislature to establish a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations.

What it means: The board of equalization would hear appeals from homeowners regarding their home’s appraisal value. It can be difficult to find qualified individuals for these boards in rural and less populated counties; this amendment would assist them. “It is written to be ‘permissive,’ which means a larger entity cannot force a smaller one to participate without its consent,” says the Chronicle.

Along with the Houston Chronicle, The Texas Board of Realtors endorses “yes” votes for propositions 2, 3, and 5. A quick, concise flyer is available here.

Cimarron Hills private sand trap and putting green

Early morning, and you’re enjoying a cup of coffee on your back patio. Ahead of you is a still scene with a long stretch of dewy green grass framed by mature trees, deer and birds and other wildlife, dotted with pools of clear water.

Many have found this bliss in buying homes on a golf course. The Austin-American Statesman recently did a feature on life on the golf course. A golfer, as they say, is just steps from his or her playground…but golfers and non-golfers alike can enjoy the scenery.

Says one agent, “it’s similar to a greenbelt, but there’s a more open look to it. With a greenbelt, sometimes all you see is brush. With a golf course, there’s usually a nice long view, clean and clear, of the trees and the greenery. You see a lot of wildlife, deer, squirrels and rabbits. It’s relaxing.”

Other advantages include the increased home value and sales appeal, similar to a greenbelt or lake property. Also, you can get your own golf cart to motor around in.

But what about the hazards of loose balls and broken windows? The Statesman quotes one insurance agent that “[the golf course location] is not a question we ask, and not part of the underwriting process,” making it no more expensive to insure a home on a course than anywhere else. Your homeowner’s insurance may cover some of the costs, the golfer is required to cover the costs, and some condominiums offer coverage as well with their fees.

Austin has many beautiful golf course properties; you can begin your search here!

Eagles Glen

The master planned community of Steiner Ranch is exceeding expectations, according to developers and agents, because of its great amenities and the strong reputation of local schools, Texas A&M’s Real Estate Center and the Austin Business Journal report.

In 2009, even with the economic downturn, 143 homes were sold in Steiner Ranch at the end of August. Compared to 164 homes by that time in 2008, just a 13% drop. Compared to the 35% drop the Central Texas area saw, particularly early in 2009, the Steiner Ranch development is going faster than planned. The median sale price for a home in Steiner reached $350,000 this year, also a significantly stronger performance than the rest of the area.

Currently in development for Steiner Ranch is Longhorn Village, a retirement community with assisted living services aiming to give University of Texas alumni a chance to reconnect with the University life.

Steiner Ranch, located northwest of the city on RR 620, is near both Lake Travis and Austin. To read more about our featured property on Eagles Glen and some more amenities Steiner has to offer, see here.

Most homeowners understand the value of updating and upgrading their home to add value, either because they’re selling their home now, or plan to in the future. But many feel overwhelmed or unsure when considering their options. Some updates are easy and obvious, like adding a fresh coat of paint or replacing the old dishwasher. But if you really want to invest in remodeling to up the value of your home, where do you start, and what do you do? And how do you make sure you don’t spend more in upgrades than you’ll make in return?

On Sunday, the Austin-American Statesman published “Upgrades that Pay Off,” full of helpful tips for homeowners looking to invest in their property. They spoke to experienced home investors for their ideas on money-making home improvements, specifically for homes in Austin, Texas. Here is some of their advice.

- Remember your budget. Because you don’t want the most expensive home on the block, keep your renovation costs at 20% to 30% of the home’s value.

- Don’t overdo, but don’t go cheap especially on core elements like flooring, counters, wall treatments, appliances, and outdoor living spaces.

- Consider your home’s positives and potential. Look at your home, take out a sheet of paper, and list the positives and negatives. Look at the lot, the house, the neighborhood, everything. Every home is unique, and has positives; your goal for remodeling is to bring the house to its potential.

- Keep a time frame. Three months is appropriate.

- Consider the land. Make sure the house and land work together. Make the most of an outdoor water feature, wooded lot or great view by adding a patio or other outdoor living space. (If you don’t have one, consider adding a manmade water feature, such as this.) Outdoor living areas are very much in demand, especially in Austin, and add space and value fast.

- Add privacy like fences or gates, particularly on high-dollar homes.

- Look at the whole house. Beware of completely renovating some areas, and completely neglecting others. You don’t want to redo your whole house, but leave in the old staircase. This will require planning your budget.

Infinity Edge Pool

- Make your home unique (if even just a little). “Every house is going to have a kitchen, every house is going to have a master bath. What many don’t have is those other areas – the wine room, the pergolas, the outdoor places you can see from within the house.” An Infinity Edge (or negative edge) pool, for example, will pop out. But of course, beware of going overboard and making too many exotic choices. Always consider what a buyer would like. You should always assume, no matter how much you love it now, you may one day decide to sell your home.

The photo featured is one of our newest listings. You can see it and other great homes at www.DMTX.com.

Rivercliff Entry

Frank Lloyd Wright architecture and contemporary interiors create this masterpiece on a bluff overlooking the Pedernales Arm of Lake Travis.

This 6,733 Sq Ft, shake roof home was built in 2008. It has 5 Bedrooms and 5.5 Baths and a cool, contemporary finish with stone floors and accents; rift cut oak ceilings, doors, cabinets and accents, and stone fireplaces.

The 5 manicured acres features a man-made stream spilling into a pond, and flowing under the entry. 

Great Room

The great room, at entry with elevated foyer, has a wood arched ceiling and a granite and stone fireplace with rift cut oak accents. The dining area is open to the great room and has two story ceilings with a stone floor. There is also a wet bar with exotic granite counters, ice maker and refrigerator open to the dining area.

The kitchen is open to the family room also with exotic granite counters, rift cut oak cabinets, stone floors, two sinks and breakfast area with seamless windows looking to the pool and patio.

Master Closet

The two story NanaWall Window System opens to the Infinity Edge pool, patio, and hill country views.

The master bedroom features a stone fireplace, double doors to the patio and NanaWall Window System running the length of the room with seamless corners and folding doors opening to the private, Infinity Edge soaking pool. The master bath has exotic granite counters, stone floors, jetted tub, walk in double shower and doors to the private patio. The master suite also has a huge, custom walk-in  closet with center island and granite countertops.

Kitchen

The private office in the master suite has custom built ins, and door to the private stone patio.

A family room has fireplace with granite , rift cut oak wall accents and window trim. An office or bedroom has full bath, seamless windows and entrance to patio. Two other bedrooms have full bath and doors to patio. The guest bedroom has full bath, walk in closet and private stone patio. The home also has utility room and secondary storage room, and attached 4-car garage with air-conditioned pet room.

Back, Pool

Altogether, 2,210 Sq Ft of stone patios with firepit surround the Infinity Edge pool spilling into overflow pool with spa and fountains.

The covered patio with stone decking off bedrooms leads to tram accessing waterfront.  The stone path leads to arched entry with glass facade and wood ceilings.

The home is located near Austin Country Club in the gated community of Rivercliff in Spicewood, Texas, 10 minutes to the new Hill Country Galleria and 30 minutes to downtown Austin.

Equestrian Center

This home can be purchased for $3,750,000 or combined with a 32 acre horse stables, covered riding arena and 3 bed, 2 bath guest home to create your dream luxury ranch.

 The 32 acres are fenced and cross fenced, with 5 contiguous 6+ acre lots all ag exempt. Electronically controlled stone and wrought iron gates create the entry, leading to 18 stall horse stables with limestone interior, each with doors to turnouts – 4 foaling stalls and 12 day stalls. Can easily be expanded to include additional stalls. Includes tack area, wash stall, store room and high bay doors on both sides for trailer or RV parking. Gates on both ends allow for trucks, trailers and RVs. The covered stone and split rail fenced riding arena is 100 ft x 200 ft.

Guest Home

The limestone guest home was built in 2006 and includes wood and tile floors with stone accents. The large living area includes a stone fireplace and open dining. The kitchen has granite counters and recent appliances. The master suite has a kitchenette, walk in closet, full bath, and sitting area. The home also features attached two car garage and pond at gated entry.

Owner will consider seller financing, call for details.

You can see the home listing here, and the stables/arena/guest home listing here. Call us today!