Lake Travis

The next westernmost lake from Lake Austin is Lake Travis. Created when the Mansfield Dam was finished in 1941, Lake Travis has the most notoriety in the greater Austin area as a recreational destination spot. Lake Travis is a spot for beautiful restaurants and campsites, popular for marinas and watercraft, and waterfront homes are consistently in demand.

Lake Travis is fed by both the Colorado River (as with all the highland lakes) and the Pedernales River, which flows into the southwestern portion of the lake. It is known as one of the clearest lakes in Texas, with its beautiful aquamarine tint to the water. Lake Travis serves as not only the primary flood control reservoir of the chain, but also a major source of drinking water for Austinites.

View from Rancho Estacia

The bluffs of Lake Travis provide unparallelled views, and often privacy, in any Hill Country properties. Rivercliff and Rancho Estacia are both stunning waterfront estates on the Pedernales arm, each offering opportunities to own horses and land on this beautiful lake. Another property we just recently profiled, The Falls, is 315 stunning acres on a private cove of Lake Travis.

Part One: Lake Austin

Miller Creek

Just listed: beautiful 4,950 Sq. Ft. custom home on 68 acres in Texas Hill Country. Sits on 800 ft on both sides of Miller Creek.

Home Features:

• Stone entry with custom wrought iron door & wood beam ceiling
• Full Commercial Thermador kitchen – 6 burner oven with griddle, 3 ovens, built-in microwave, ice maker, dishwasher, trash compactor, built-in refrigerator and freezer – All appliances have wood fronts to match cabinets. Kitchen also features Custom Beveled granite countertops, extra large island with breakfast bar, attached breakfast room, large walk-in pantry.
• Breakfast Room with buffet, shelves, built in TV, wall of mirrors and large stone fireplace. Formal Dining Room with Wall of windows overlooking creek, Solid wood beam and stained wood ceiling, Stone walls with arched passages. Wet Bar with Stainless steel sink, Wine fridge, built in cabinets and stone walls.
• Great Room with Huge masonry fireplace, Large stained wooden trusses with custom ironwork – 100% wood ceiling, Full glass wall overlooking pool and creek
• Master Bedroom with stone fireplace, wall of windows overlooking pool & creek, Built-in computer desk, bookcases, TV, His and Hers entrance into Bath/Dressing areas. Master bath with his & hers walk-in closets, Walk-in natural stone shower, rock walls with arches, Large Jacuzzi tub, Stone entrance to Exercise area, Vaulted ceiling with wood beams, Separate water closet.
• Exercise Room with Large windows overlooking creek, Wood wainscot, Mirrored wall, Music/TV. Utility Room with Sink, Built-in cabinets, Freezer area. Game/Media Room with 100% stain wood stairway, Wrought iron handrails, Walk-in closet, Built-in Desks, Built-in Entertainment Center, View of creek.
• Detached 4 Car Garage with Attached Breezeway to House

Miller Creek

Exterior Features:

• Stone entry gate with communal gate operations, Intercom to house, 8 foot custom iron gates.
• Stone lined custom heated pool with pebble tech plaster, 6 person Hot Tub overlooking creek. Lighted stone walkway to creek. Flagstone deck around pool.
• Large flagstone terrace the entire length of house with Built-in TV and stainless steel gas BBQ Pit on terrace overlooking creek.
• Large (20 ft x 18 ft) BBQ Cabana with Full kitchen, TV & custom Commercial wood Burning BBQ pit
• Bath with outdoor shower, Large fire pit with built-in rock seats, Wrought iron fencing around fully landscaped yard.
• Approx. 3 acres of house, pasture is irrigated. Fenced horse pasture and antique windmill. 2×2, “no climb” fenced horse pasture. All fencing is new or excellent condition.
• 3 stall stable with 2nd floor office/gameroom. Tack and feed Barn, Hay barn, fenced paddock. Round pen/roping arena with square feed lot. Wood and storage shed.
• Well house with game cleaning area. 4 wells with 25 gal per minute capacity and rainwater collection system with 10000 gal collection tank.
• 3 RV hook-ups for guests
• 1 acre stock pond. Miller Creek is stocked with bass, catfish and perch. Other spring locations on property with the availability to add multiple other water features.
• Cedar has been cleared on all but 10 acres. Ag Exempt – cattle. Wildlife abounds: Whitetail deer, turkey, Axis, Seika.
• Fenced and gated garden with limestone planters

If you are interested in this property, or one similar, contact us today.

Take a virtual tour:

With the Fed no longer spending the tens of billions of dollars monthly on mortgage securities, we will only have the private sector to fill in the gap. When that happens, we can naturally expect mortgage rates to rise. “The difference in monthly mortgage payments of 5% or 6% can be measured in tens of thousands of dollars over the life of a loan,” one writer explains.

The Atlantic Monthly writes that the credit markets need securitization, and warns that it will only become more difficult to borrow money (and those loans will come at higher interest rates) as the Fed program ends. “If you think banks aren’t lending enough now, then you’d find a world with no securitization much worse. Yet, that might be what you get if the Fed ends its program.”

Why would the Fed remove such a successful program? The analogy of a bike with training wheels is often given – if you want an economy to strengthen, recover and stand on its own, at some point you need to take the wheels off. If the Fed keeps rates too low for too long, inflation will rise higher and you will expect to see rates rise anyway. Home loan rates will increase as demand is met, naturally, with or without the Fed.

We can expect the end of the first quarter of 2010 to be a telling time for the economy’s recovery, but the heavy favor of the buyer and borrower is going to change. These will be some of the last months we’ll see that are such great markets for buying a home or land. If you are considering buying, you should begin your search now.

Energy Star homes will save an average of $200-$400 this year on utility bills, and $270 million nationwide. They are at least 15% more energy efficient than regular homes and will save 4 billion pounds of greenhouse gas emissions.

Call your Realtor today about your future Energy Star home.

Proposition 11, which limits the government’s power to eminent domain, was hugely popular and passed by an 80-20 margin. “The amendment bans governments in Texas from seizing private property and giving it to a private developer to boost the tax base,” reports KXAN News.

Over 43,500 residents voted in Travis County.

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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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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.

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.