It’s in the news and on the minds of most everyone involved in the business of buying and selling homes: mortgage rates. It’s true, as the economy shows encouraging signs of growth, mortgage rates remain at an all-time low. Freddie Mac lists a few facts that contribute to why buying a home looks as attractive as it does right now. The following numbers are for the week ending March 1, 2012:

• 30-year fixed-rate mortgage (FRM) averaged 3.90 percent. Last year at this time the 30-year FRM averaged 4.87 percent.

• 15-year FRM averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 4.15 percent.

• Five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent. A year ago, the five-year ARM averaged 3.72 percent.

• One-year Treasury-indexed ARM averaged 2.72 percent. At this time last year, the one-year ARM averaged 3.23 percent.

According to Freddie Mac, these numbers show that mortgage rates are staying near their 60-year lows, which positively impacts home affordability. While it’s true that you should be prepared to answer more questions now than you would have if you were seeking a loan in 2008 and have your credit score analyzed more carefully, “it’s not as hard as it sounds,” Kenton Brown, president of the Austin Mortgage Bankers Association explained in a recent interview with Impact News. “It is more difficult than it was four years ago. Then, you had a fog and mirror, and you got a loan. But 10 years ago, this wasn’t unusual.” Brown went on to say that mortgage lenders and insurers alike are beginning to provide support more readily for potential home buyers.

A press release issued by the Austin Board of REALTORS® last month stated that January of 2012 saw 1,051 single-family homes sold, which is 10 percent more than January 2011. In many cases, the price is right for folks to make the move from renting to buying an Austin home.

To learn more about whether now may be the right time for you to buy a home in Austin, talk with your Central Texas REALTOR® or find a REALTOR® on AustinHomeSearch.com.

The Department of Housing and Urban Development (HUD) announced recently that new regulations have been put in place to ensure equal housing opportunities for those who may previously have been discriminated against due to sexual orientation, gender identity or expression, or marital status.

The final rule, effective March 5, 2012, will affect several programs that fall under HUD’s directive, including Federal Housing Administration (FHA) mortgage insurance programs and community development programs. This rule was proposed in late January after HUD was advised that lesbian, gay, bisexual or transgendered (LGBT) individuals and families who were otherwise qualified for HUD-assisted or –insured housing were not receiving equal access.

Going forward, the owners and operators of such housing will be prohibited from denying housing based on an applicant’s LGBT status. Furthermore, inquiries regarding sexual orientation or gender identity will be prohibited. “The proposed rule clarified that families, who are otherwise eligible for HUD programs, may not be excluded because one or more members of the family may be LGBT or perceived to be LGBT.” Furthering housing equality is a priority to HUD because it is the Nation’s only agency that “is charged with promoting the federal goal of providing decent housing and a suitable living environment for all.”

The Human Rights Commission (HRC) worked closely with HUD throughout the development of this rule and will remain involved to ensure its successful implementation and that LGBT renters and homebuyers are aware of these new protections. 

The Austin Board of REALTORS® (ABoR) and the Home Builders Association (HBA) of Greater Austin hosted the annual Housing Forecast on January 12, welcoming a crowd of 750 interested Austin residents and real estate professionals. The overarching message from industry experts was hopeful: “For 2012, Metrostudy expects new home production in the Austin region to increase for the second straight year,” said Director of the Austin Market for Metrostudy, Eldon Rude. New home starts are up from last year, and the job market in Austin is improving. Our growing population paired with a shrinking low-cost rental supply all point to a growing housing market in Central Texas.

Industry experts are not naïve; they shared some logical concerns, and issues to be aware of. Dr. Greg Hallman from The University of Texas’ McCombs School of Business could not gloss over the economic crisis in Europe, stating that while European leaders have avoided disaster to date, investors world-wide remain cautious. KXAN’s Chief Weathercaster Jim Spencer brought the continuing Central Texas drought into perspective for the audience. “Even during the drought of record, there were several rainy periods, and it is expected this extended drought will be no different, even if it lasts for years. In short, the adage, ‘if you don’t like the weather in Texas, wait five minutes’ really can still apply.”

Overall the 2012 Housing Forecast had encouraging news for Austin homeowners. Compared to national and global markets, the Austin area continues to remain a bright spot on the map, with job and housing markets expected to continue their positive trends in the coming year. Though current drought conditions continue to impact homeowners, home builders and truly all those living in Central Texans, we are reminded that Texas weather conditions can change in an instant and one day of intense rainfall could wipe out the rain deficit, as has happened in the past. Without a doubt, Austin is ‘poised for greatness’ in 2012.

As part of their ConsumerVue segments, KVUE News showcases REALTOR® expertise each month to update their viewers on the latest happenings in the Austin real estate market. Leonard Guerrero, Chairman of the Austin Board of REALTORS®, appeared last week on ConsumerVue and discussed the recent trend of home renters more seriously considering homeownership as rental rates rise.

Because mortgage rates are at an all-time low, this is a great time to sit down with a Central Texas REALTOR® to discuss making an exciting move towards home ownership. Texas Home Programs and Texas Real Estate have more information.

You can hear more of Chairman Guerrero’s tips for first-time homeowners by watching his ConsumerVue interview on KVUE.com.

Whether you’re in the process of buying or selling a home, the idea of getting a home inspection will likely come up. A home inspection involves an expert examining the condition of a house, checking for flaws in both the structure and the built-in systems. But are these inspections necessary? And what happens if a problem is found? We answer these questions and more below.

What does the home inspection cover?
A home inspection will examine the condition of items including the air conditioning and heating system, roof, foundation, ceilings, floors, walls, attic, basement, doors, windows and visible structure. Depending on the inspector, additional systems and features, such as swimming pools, will also be inspected.

Can I perform a home inspection myself?
Only a professional home inspector can perform an official examination. Although you may be well versed in home building and know key items to look for, a licensed inspector will have far more experience with the process, present an unbiased opinion and may identify issues you might not have considered.

Why should a home inspection be performed?
A home inspection will shed light on the current condition of a property, exposing any issues that may require routine maintenance or additional expense to resolve. Understanding the true state of a property is helpful for both the current homeowner, as well as those interested in buying the property.

Is a home inspection useful in the home buying/selling process?
Absolutely! A home inspection is a crucial part of the home buying and selling process. In most real estate transactions, the home buyer pays for the house to be inspected within a few days of signing a purchase agreement. However, as a seller, it’s not a bad idea to have an inspection performed before putting your home on the market, as the report could identify problems you need to disclose or repairs that could be made before your home is put up for sale. In addition, understanding the true condition of your home will help you and your REALTOR® determine a fair listing price.

Note: In accordance with Austin’s ECAD Ordinance, some Austin home sellers are required to have an energy audit performed on their home before selling their property. This process is separate from the home inspection.

What if the inspection reveals problems?
It’s common for home inspections to reveal minor issues in most properties—these are generally no cause for concern and can be easily resolved. However, if major problems are found, the buyer and seller will likely need to negotiate whether and when these problems will be fixed and who will pay for them. The seller may need to adjust the purchase price or contract conditions in the event that this occurs.

For more information about inspections and how they may affect your home buying or selling process, contact your Central Texas REALTOR®.

On your journey towards homeownership, you may have heard the phrase “home appraisal” tossed around once or twice. But what exactly are home appraisals, and why are they an important part of a real estate transaction? Below, we’ve unraveled a bit of the mystery by answering a few common questions about home appraisals.

What is a home appraisal?
Essentially, an appraisal is a real estate professional’s opinion on the value of your property. These professionals, known as appraisers, calculate this value using the condition of your home, the recent sales price of comparable homes in your neighborhood, the multiple listing service and their own expertise in real estate trends, among other methods and resources.

Is there more than one kind of home appraisal?
Home appraisals can specialize in three different categories: cost, sales comparison and income. Cost analyzes the cost of repairs (if needed), the value of the land and natural wear and tear. As you might guess, sales comparison analyzes the property compared to properties around it Income analyzes the cost of the property from the perspective of an investor. Regardless of the type of appraisal used, all of the information calculated from the appraisal is then written up into a report for the client to peruse.

Why should I get a home appraisal?
Perhaps the biggest reason to get your home appraised is to get an expert opinion on your property’s value. This information is useful because it can give you a great idea on how to competitively price your home. In the home buying world, an appraisal can tell a buyer whether the home they’re interested in is priced fairly. Some situations may require you to obtain an appraisal on your property, such as applying for a loan.

Is there a difference between a home inspection and an appraisal?
Yes! Although the appraiser will be looking at similar areas that a home inspector would, the appraisal report is not a substitute for a home inspection. An inspection is performed to determine the condition of the home, from its foundation to the roof and appliances. While the appraisal report will cover this kind of information, its purpose is to give the client a value estimate of their property.

These are just a handful of the common questions associated with home appraisals. For more questions and answers in regard to appraisals, visit Domania.com

The third quarter of 2011 was marked by a strong volume of home sales in Austin, outpacing 2010 by 32 percent in July, 33 percent in August and 31 percent in September. Median prices remained stable, ending the quarter with a median price of $189,000 in September, only two percent less than one year ago.

Pending sales, which are sales that will likely close within the following month, also enjoyed high volume during the third quarter of 2011. Compared to 2010, July saw an increase of 28 percent, whereas August and September both saw increases of 19 percent. A total of 14,862 homes were sold between January and September of 2011, which is six percent more than the same period in 2010.

“With the impact of the homebuyer tax credits fully behind us, it's encouraging to see three consecutive months of year-over-year growth in sales volume for Austin-area homes,” said Judith Bundschuh, Chairman of the Austin Board of REALTORS®. “In the midst of that growth, Austin home values have remained stable.”

For more information about the Austin real estate market and how it may affect you, contact your Central Texas REALTOR®.

As part of their ConsumerVue segments, KVUE News showcases REALTOR® expertise each month to update their viewers on the latest happenings in the Austin real estate market. Judith Bundschuh, Chairman of the Austin Board of REALTORS®, appeared last week on ConsumerVue and discussed the importance of title insurance.

During the interview, Bundschuh identified two types of title insurance policies and explained what each type of policy covers. These two policies are known as the Mortgagee Title Policy and the Owners Title Policy. Above all else, Bundschuh strongly recommended that all home buyers purchase a title insurance policy.

You can hear more of Chairman Bundschuh's comments by watching her ConsumerVue interview on KVUE.com.

Does your neighborhood have a Neighborhood Watch program? Crime prevention is a priority for many communities, as demonstrated earlier this month during Austin's National Night Out event. It's likely that many of the neighborhoods who participated in the event have crime prevention programs like a Neighborhood Watch, or perhaps formed one during the citywide event. Below, we have outlined the steps to take for creating one of these groups in your neighborhood.

Speak to your local law enforcement
It's possible that your neighborhood already has a Neighborhood Watch program. If you're not sure, your local law enforcement agency will be able to tell you if one already exists. If there's no program currently in place, you'll want to contact the agency when you begin organizing your group. You must have sponsorship of a law enforcement agency in order to make your Neighborhood Watch group official. These men and women will also be responsible for educating your group about crime prevention.

Rally your neighborhood
You can't fight off crime alone! Gather support from your neighbors in favor of creating a Neighborhood Watch program by suggesting the idea during an HOA or neighborhood association meeting. It's likely that the members of the board will agree with creating such a group.

If your neighborhood isn't governed by these types of associations, consider pitching the idea directly to your neighbors. Create a sign-up sheet and go door to door, asking your neighbors to provide their name, phone number and email address if they're interested in participating. You can use their contact information later to organize meetings.

Meet regularly and form a plan
Once your group has officially assembled, it's important to meet regularly. Plan monthly or bi-weekly meetings to stay on top of the most critical issues facing your neighborhood. Some Neighborhood Watch programs use text messaging and social media to communicate between members. These tools can be very useful in thwarting problems quickly.

Neighborhood Watch groups play a vital role in helping law enforcement reduce crime in our neighborhoods, which benefits Austin as a whole. For more information about Neighborhood Watch groups and how to start one of your own, visit USAonWatch.org.

It's one thing to have to deal with noisy neighbors; it's another if their antics lower your home's value. Issues such as unusual paint color or a broken-down car sitting in their yard could reduce your sale price by as much as 10 percent.

It's possible your neighbors are unaware of how their behavior is affecting the neighborhood. Try approaching them directly but pleasantly, and strike up a conversation. Explain that you're planning to sell your home soon and that the condition of their house might affect your chances. Be sure to offer your assistance in fixing the problem; this will likely help resolve the issue more quickly and perhaps earn you some new friends in the process.

If your neighbors are consistently unavailable or unapproachable, voicing your concerns to another party may be your best bet. If, for example, the neighbors are renting their home, you could discuss the issue with their landlord. Or, if your neighborhood is governed by a homeowner's association, the problem could be presented at a meeting. As a last resort, consider speaking with a REALTOR® or a city representative to see if they can step in to resolve the dilemma.

If all else fails, the best you can do is make your home stand out above the rest. Touch up your home, make repairs and boost curb appeal as much as possible. Your home can still sell despite the conditions of a neighbor's house. Get in touch with a REALTOR® to determine how to best approach the situation.

Drawing national attention, Central Texas continues to battle a relentless outbreak of wildfires, including the Bastrop County fire, which has already consumed more homes than any single fire in Texas history. Residents living in Bastrop, Leander, the Steiner Ranch community and many other areas across Central Texas have been affected, with at least 34,000 acres of land lost to the fires and more than 4,000 residents being forced to evacuate their homes.

Residents facing evacuation
As fires continue to burn throughout Central Texas, containment efforts continue. If your neighborhood is ordered to evacuate due to the wildfires, be prepared to bring food, fresh water, extra clothes, phone chargers and other important items with you as you follow the evacuation route set by authorities.

Home buyers and sellers
This morning, Judith Bundschuh, Chairman of the Austin Board of REALTORS®, spoke with KVUE News about the wildfire outbreak. Bundschuh recommended that homeowners and potential buyers contact their lender and insurance provider to get a sense of how the disaster affects their situation. Bundschuh also mentioned that those in the home search process may face limited access to some neighborhoods.

Those looking to help
Your Central Texas REALTORS® have been lending a helping hand since the onset of this disaster, collecting donations to help those who have been displaced by the wildfires. For more information on donations and drop-off locations in the Austin area, visit the Disaster Relief page here at AustinHomeSearch.com.

No homeowner wants to think about the possibility of losing their home, but foreclosure can become a reality if you fall behind on your monthly mortgage payments. Whether you're dealing with foreclosure now or worried about impending financial hardship, it's crucial to remain calm and tackle the issue as soon as possible. Below, we've provided tips to help you keep foreclosure at bay.

1. Speak to your lender immediately
If for any reason you suspect you might miss a house payment, you should notify your lender right away. Lenders often have programs that can assist you in dealing with economic issues. Explain to your lender why you're missing your payment and how long you expect the situation to last.

2. Read any mail or notices sent by your lender
It's usually in your lender's best interest to help you keep your house. In the event of a financial issue, you'll likely receive mail from your lender detailing options they provide to help homeowners avoid foreclosure. Make sure you're opening and reading these messages to stay on top of the situation.

3. Know your mortgage rights
It's a good idea to know how foreclosures are handled in the State of Texas. More importantly, you should know how your lender will respond in the event that you miss mortgage payments, so review your loan documents carefully.

4. Develop a stronger budget
When faced with the possibility of foreclosure, saving money should be a priority. Examine your monthly spending habits and see if there are any areas in which you can make cuts, such as entertainment, dining out and monthly subscriptions or memberships.

5. Use your assets to your advantage
Do you have any valuables you could sell to help make your mortgage payment? This could include jewelry, additional vehicles or other expensive purchases. Alternatively, perhaps someone in the family could take on a second or part-time job. Any money you can put towards your payment will help your situation.

6. Avoid falling for foreclosure prevention company scams
Though they may provide sound advice, enlisting the help of a foreclosure prevention company may only further your debt, as they often charge a hefty fee to provide you with answers. It's best to speak with your lender or an HUD-Approved Housing Counselor to help get yourself back on your feet.

Unexpected disasters can make monthly house payments difficult, but remember that you are not alone. There are many resources you can call upon to help you solve your dilemma. For more information about avoiding foreclosure, visit HUD.gov.

For some owners a house just isn't a home without a cat or dog. Regardless of the pet you have, it's helpful to decorate and design with your pet in mind, as you'll want to make sure you can provide a safe and suitable environment for your animal companion.

Animal accommodations
When looking into a new house (or new pet), you'll want to make sure your home will suit your pet's needs. For instance, will your backyard be big enough for your dog to play and get exercise? The age of your pet may also factor into your housing decision. A home with a steep staircase, for example, may not be ideal for an older or arthritic pet who's not as nimble as he used to be.

You should also take into account the neighborhood in which you're looking to live. Would you and your pet be safe if you were to take her for a walk? Would your pet be in danger of heavy traffic if he got loose from your home? If you're worried that your pet may not be safe in a particular neighborhood, reconsider living in that area. If you cannot change your environment, you may need to take additional steps to help ensure your pet's well-being.

Cosmetic conservation
If your pet spends the majority of its time indoors, there are a number of things you can do to help protect your home from damage. To prevent your floor from scratches or stains, install pet-friendly flooring such as hardwood or linoleum. If you still want a softer feel under your feet, consider using inexpensive area throw rugs, particularly those that are machine washable. An expendable rug comes in handy in the event that your pet has an "accident."

Most pet owners are familiar with the seemingly never ending amount of pet hair on their clothes and furniture. Some experts suggest matching the color of your furniture with that of your pet's fur to hide the hair that accumulates. Additionally, you might use slipcovers made out of the fabric that you can wash on a regular basis. Some pet owners find that furniture covered in leather is easy to wipe and doesn't absorb stains or smells like other materials (just remember that leather is not immune to scratches from pet's claws!).

By taking proper precautionary measures, you can make your home both safe and enjoyable for you and your pet. For more tips about making your home accommodating for your pet, visit HomeCheck.com.

You're probably excited about moving into a new Austin home, but how do your children feel? The moving process can add stress into a young child's life, so it's important to sit down with your children and discuss the move with them. An in-depth discussion about the event can help turn an anxious child into a diligent moving assistant!

Perhaps the biggest concern on your children's mind is the idea that their life is about to be changed dramatically. They may feel that they're losing their friends or losing the comfort of their home. Addressing these concerns early on is crucial. Allow your children to voice their opinions and be prepared to answer them. Reassure them that they'll still be able to talk to their friends via e-mail or phone, as well as meet with each other in person if you haven't moved too far away.

One great way to alleviate your children's stress is by getting them involved in the process. For example: when you arrive in the new home, have your children decide how their bedroom will look. Let them choose where furniture will go and where posters or pictures will be hung. Even before you arrive, have them sort out their things and help pack them away into boxes. The more involved your children feel, the more excited they'll become about the move.

For younger children, seeing their favorite toys or stuffed animals being packed away can create a sense of unease. Be sure to explain to your children that these items are coming with you and that they'll be kept safe during the move. If possible, try to unpack these items immediately upon arriving at your new home. This way, your children will feel more comfortable in their new surroundings.

After all the boxes are inside, it's a good idea to hook up familiar items such as your television or musical devices (radios, iPod players, etc.) and have these things running while you unpack the rest of the boxes. These familiar items will help create a sense of security and comfort for your family as you continue unpacking the rest of your belongings.

Moving doesn't have to be stressful. With the right attitude, your whole family can contribute to the process and finish the event quickly and efficiently. For more information about moving with children, visit MoversDirectory.com.

Home prices in Austin remained stable during the second quarter of 2011. Compared to the previous year, the median price of Austin homes rose three percent in April and four percent in May, finishing with a median price of $205,000 by the end of June. In addition, June saw an increase of Austin home sales, nine percent more than June of 2010.

During the first half of the year, a total of 9,299 homes were sold in Austin, five percent fewer than the same period in 2010. However, pending sales, which indicate the number of sales likely to close in the next month, were higher in the second quarter when compared to 2010, with a 53 percent increase in May and a 31 percent increase in June.

Austin homes spent an average of 88 days on market (DOM) in April, 81 days in May and 75 days in June, marking the shortest DOM figures since the Fall of 2010. While these numbers indicate that Austin real estate spent more time on market than during the same period one year ago, they were the lowest DOM figures seen in Austin since September 2010.

"Looking at the results, it's encouraging to see that the demand for homes is strong and that Austin-area homes continue to hold their value," said Judith Bundschuh, Chairman of the Austin Board of REALTORS®. "The increase in pending sales…coupled with stable prices and stronger sales [in June], are encouraging signs that the market is returning to a pre-recession seasonal cycle."

For more information about the Austin real estate market and how it may affect you, contact your Central Texas REALTOR®.

There's more to being a homeowner than just providing shelter to you and your family. Compared to renting, owning a home has proven to have many social, financial and psychological rewards. Below, we have outlined five great benefits strongly tied to homeownership.

1. Higher success rate in school
While renters tend to relocate more frequently, roughly half of homeowners in the U.S. stay in their homes for at least 10 years. This kind of stability allows young students a better chance for high academic achievement. In fact, students living in a home are 25 percent more likely to graduate from high school, according to statistics compiled by the National Association of REALTORS® (NAR).

2. Stronger communities
Homeowners care about the community and neighborhood in which they are living. Many tend to join or create neighborhood watch programs to keep their families safe and become members of neighborhood associations to organize family-friendly events. Because of this close connection with their community, homeowners are 15 percent more likely to vote and 11 percent more likely to know who represents them in Congress, based on a study by NAR.

3. Better connected families
Statistically, homeowners are more involved with their family than renters. They're 16 percent more likely to volunteer to coach their children's soccer or football games, become scout leaders and attend parent-teacher conferences. In addition, homeowners are less likely to have alcohol or substance abuse problems.

4. Healthier, happier lives
The step from renter to homeowner has proven to have psychological and physiological rewards. Homeowners report that they feel more satisfied with their lives, have higher self-esteem and more motivation to exercise and improve their diet. These mental and physical benefits are passed down to homeowners' children, as well. According to the NAR, children of homeowners are 20 percent less likely to become teenage mothers.

5. Improved economy
Being a homeowner provides big benefits to the economy. By purchasing a home, you're creating jobs for remodeling, plumbing, landscaping, pool-cleaning and real estate services, among others. HouseLogic.com reports that one purchase of a home puts about $60,000 into the nation's economy. In addition, a homeowner's net worth has shown to be approximately 46 times that of a renter.

These are just a handful of the social, economic and communal benefits that homeownership can provide to you. For more information about homeownership, talk to your Central Texas REALTOR®.

Buying a home will likely be the biggest investment you'll ever make in your life. With that said, it's important to keep your investment safe in case an unfortunate event occurs. Although you can legally own a home without homeowners insurance, chances are your mortgage lender will require you to purchase a policy. Below is a basic overview of homeowners insurance.

HOME INSURANCE TERMINOLOGY
Do the words "deductible" or "premium" make you draw a blank? The following is a brief glossary of terms commonly associated with homeowners insurance:

• A peril is a specific type of damage or loss defined in your insurance policy (such as fire, theft, hail, etc.).


• A premium is the price of coverage for a particular type of peril. Premiums are often set for a specific period of time.


• A claim is a request to the insurance company to be reimbursed for lost or damaged property.


• A deductible is the amount of money you must pay to a loss before any payment is due from your insurance company.


• Replacement cost is the amount of money required to fix or rebuild your home in the event of a disaster.


• Deprecation refers to the decrease in value of your home due to damage or natural wear and tear.


• Actual cash value takes the replacement cost of your property and subtracts deprecation.

Didn't find the term you were looking for? The Texas Department of Insurance provides a comprehensive glossary of home insurance terms to help you understand what's defined in your policy.

TEXAS INSURANCE POLICIES
Unlike most states, Texas has its own brand of insurance policies. The following is a list of home insurance policies offered in Texas:

1. HO-A policy - The HO-A policy is the cheapest policy for which you can apply. It offers coverage for a very limited and specific amount of perils. If you choose this policy, be sure to read the document carefully so you understand exactly what is (and isn't) covered. HO-A policies only offer actual cash value coverage.

2. HO-B policy - The HO-B policy offers coverage for most perils that can affect your property, which are specifically noted on the document. Keep in mind that some Texas insurance companies do not offer HO-B policies.

3. HO-A amended policy - HO-A amended policies offer a middle-ground option between the HO-A policy and the HO-B policy. In other words, you'll get more coverage out of an HO-A amended policy than a standard HO-A policy, but less coverage than an HO-B policy. As with the other two policies, perils covered by HO-A amended policies are specifically defined in the document.

4. HO-C policy - HO-C covers "open perils," meaning that it provides coverage for any type of damage or loss to your property (as long as it isn't specifically excluded in your document). Because of this, HO-C policies tend to be the most expensive of all the policies provided by Texas insurance companies.

Note: HO-A, HO-B and HO-C policies are considered "standardized." This means that each policy must use the same terminology and provide the same coverage, regardless of which insurance provider you choose. The HO-A amended policy, however, is not standardized.

TYPES OF COVERAGE
A typical Texas homeowners insurance policy will provide the following types of coverage:

1. Dwelling Coverage (Coverage A) covers damage affecting the structure of your home. This type of coverage can be purchased as a stand-alone policy (also known as a Dwelling Policy).

2. Other Structure Coverage (Coverage B) covers damage affecting structures not attached to your home, such as a tool shed, guest house or detached garage.

3. Personal Property Coverage (Coverage C) covers damaged or stolen personal belongings in your home, such as jewelry, furniture or home appliances.

4. Loss of Use Coverage (Coverage D) covers your living expenses in the event that your home becomes temporarily uninhabitable. These can include hotel charges, restaurant bills and car storage.

5. Personal Liability Coverage (Coverage E) reimburses you in the event that you are liable for a nonresident who is injured on your property. It also covers damage caused to a nonresident's personal property while on your property.

It's important to note that homeowners insurance policies will vary from person to person, based on the size, age and location of your home, as well as other factors. For more information about Texas homeowners insurance, visit the website for the Texas Department of Insurance.

In June 2009, the Austin City Council approved the Energy Conservation Audit Disclosure (ECAD) Ordinance. The aim of this ordinance was to make Austin homes more energy efficient, and it required some homeowners serviced by Austin Energy to have an energy audit performed on their home prior to selling. To date, more than 4,000 energy audits have been conducted on homes in Austin.

Recently, changes have been made to the ECAD Ordinance (effective May 2, 2011). Below is a rundown of the recent changes that affect residential properties.

• Austin homeowners affected by the ECAD Ordinance must disclose energy audit results to a potential buyer no later than three days prior to the end of the option period defined in the sales contract. In the event that an option period is not available, the results must be disclosed before the sales contract is executed.


• Condominiums are now subject to the ECAD Ordinance.


• Multifamily properties whose energy usage is above 150 percent of the average usage for similar communities are required to reduce their energy consumption by 20 percent. In addition, it must be disclosed to potential tenants that the property uses a higher amount of energy than comparable properties.

Want to know whether you qualify for an energy audit? Visit Austin Energy's ECAD Audit Self Check page and fill out the form provided. For more information about the ECAD Ordinance and how it may affect you, talk to your Central Texas REALTOR®.

The first quarter of 2011 was marked by stable home prices and a healthy inventory of homes in Austin's real estate market. Compared to 2010, the median price for Austin homes increased by six percent in January, two percent in February and two percent in March of 2011, landing at $185,260 at the close of the first quarter.

A total of 3,631 homes were sold during the first three months of 2011, three percent fewer homes than were sold during the same period the previous year. Austin's month's supply of inventory ranged from 5.4 to 6.2 months, whereas national figures ranged from 7.5 to 8.5 months. According to the Real Estate Center at Texas A&M University, 6.5 months of inventory indicates a balanced market.

Judith Bundschuh, Chairman of the Austin Board of REALTORS®, noted, "Like all of 2011 thus far, we must recognize that month-to-month comparisons are still being influenced by the impact of last year's homebuyer tax credits. Thus, fluctuations in sales volume and listings compared to last year are to be expected."

For more information about the Austin real estate market and how it may affect you, contact your Central Texas REALTOR®.

For some homeowners, having an in-ground pool in their backyard is essential; it keeps them cool during the warmer months and provides a great location for parties and social gatherings. For others, however, a pool is seen as a money drainer that only serves to increase living expenses. If you're thinking about buying a home with a pool or installing a pool in your backyard, ask yourself the following questions.

How will a pool affect the value of my home?
Recent studies have shown that a backyard swimming pool can increase the value of your home, depending on the area in which you live. In Texas, the study found that a pool can increase a home's value by as much as 13 percent. Of course, speaking with a REALTOR® will help you best determine how a pool may affect your home's value.

Will buyers be interested in my home if I own a pool?
It's important to keep in mind that a backyard pool can be a deal breaker for some buyers. If buyers have young children, for example, they may feel a pool is a safety hazard. For others, however, a pool might be exactly what they're looking for. If your neighborhood doesn't have a community pool, your home may be more appealing if there's a private pool in the backyard.

Do I have the time and money to put into maintenance?
If you do decide to own a swimming pool, make sure you're prepared to maintain it. You'll need to keep the PH levels of the pool in balance and perform regular chemical treatments to ensure algae and bacteria don't develop. According to the Wall Street Journal, pool owners may need to budget $3,000 to $5,000 each year for general maintenance and repairs. Some repairs, such as resurfacing the tiles and plaster, can cost as much as $10,000.

Is it worth the cost?
Pool installations generally cost anywhere between $25,000 and $50,000. Even though you will likely find someone interested in owning your home, experts suggest that you won't recoup the cost of installing a backyard swimming pool.

Nevertheless, you may find that the expenses are worth it. Homeowners with a pool can take refreshing dips in the water when Texas temperatures climb up to 100 degrees or more. A pool can also provide a great backdrop for a house party, where guests can go swimming or simply relax outside enjoying the sights and sounds of the water.

Buying and maintaining a pool is expensive, but it can be a rewarding experience for you and your family. Be sure to discuss with your REALTOR® whether owning a swimming pool is the right choice for you.

Buying a home is a multi-step process that involves many moving parts and a good amount of "up front" work. Though your personal circumstances may dictate how you go about the homebuying process, we've provided a general checklist of tasks that will likely need to be accomplished before you even make an offer on your dream home.

1. Check your credit score
Make a request to see your credit report and check it for inaccuracies. You'll want to correct any erroneous information before speaking with a mortgage lender. Mistakes in your credit report could reflect poorly on you, which in turn could have a negative impression on the lender.

2. Think about how much you want to spend each month
Outside of monthly expenses such as groceries and entertainment, you'll need to consider how much you are willing and able to put toward homeownership expenses, such as a mortgage, real estate taxes and insurance rates. Depending on where you live, you may also need to take an HOA fee into account. To get a feel for what mortgage amount may be within your budget, use the online mortgage calculator provided by AustinHomeSearch.com.

3. Decide how much you can put towards a down payment
Most down payments will be anywhere from 5 percent to 20 percent of the home's selling price; however, you may be able to opt for a rate lower than 5 percent depending on which type of mortgage loan you go with.

4. Find a REALTOR®
Not only do REALTORS® know their markets and particular neighborhoods like the back of their hand, but they can also assist in negotiations and legal paperwork. Finding a REALTOR® to guide you through the home buying process can save you time, trouble and money. It's a good idea to interview your REALTOR® (or several REALTORS®) to make sure you find the real estate professional who is right for you.

5. Talk to a REALTOR® about your wants and needs in a home
Although you may have conducted a preliminary Austin real estate search to get an idea of where you might like to live and what home features you like, discussing your ideal home with your REALTOR® is very important. With this information, your REALTOR® will be better able to introduce to you to homes that meet your criteria, possibly within neighborhoods you may have never before considered as an option.

6. Find a mortgage lender
Banks and credit unions are common places to find a mortgage lender. You'll want to do some research to find a lender that can give you a good rate. Lenders can also help you determine what type of loan is right for you.

7. Get your paperwork in order for your lender
You'll likely need to provide personal documentation to your lender, such as your driver's license, employment information, pay stubs, recent tax returns and credit history. Make sure to confirm with your lender exactly what documents they need to see.

8. Find out how much money you qualify for
Banks use a certain percentage of your monthly income, as well as other factors, to determine what amount of money you are qualified to borrow and at what rate. Keep in mind that, once qualified, the mortgage rates you've been quoted may only be locked in for a certain period of time.

Once you've accomplished these steps, you'll be prepared to make an offer on a home and begin the most exciting part of your journey. Your REALTOR® will be there to offer his or her expertise, assist in the negotiating process and guide you through the closing process until you finally receive the keys to your new home. For more great tips on buying a home, visit our Consumer Tools section here at AustinHomeSearch.com.

Buying your first home is an exciting endeavor. You can feel a sense of pride in knowing that the property belongs to you, and so long as you abide by zoning laws and potential HOA regulations, you're free to remodel your home's interior, exterior and yard however you'd like. But did you know that there are financial benefits to owning a home, as well? Below we have listed three great reasons you should buy a home in 2011.

1. Homeowners are eligible for many different tax deductions.
There are a multitude of tax deductions available to homeowners. For example, when it comes to monthly mortgage payments, most homeowners can deduct real estate taxes actually paid to the taxing authority, interest that qualifies as home mortgage interest and mortgage insurance premiums.

Although homeowners are required to pay property taxes, these, too, are tax deductible. HouseLogic.com lists a number of ways to become eligible for property tax breaks, including the installation of energy efficient appliances, having veteran's status or using your property as your primary living space.

2. Owning a home is a fantastic investment opportunity.
In most cases, homebuyers aren't just purchasing a place to live; they're purchasing a property that can be sold for profit later down the road. Unlike renting, owning the property allows you to benefit from its increase in value, which is likely to happen over time.

Homeownership is especially advantageous in a market like Austin, where home prices generally appreciate at a steady rate. For example, the average Central Texas home purchased in 2004 appreciated 23 percent by the time it was sold six years later in 2010 (which is the average period of time Texan's spend in one home).

3. The cost of buying a home can be lower than renting a home or apartment.
Sometimes, buying a home is more affordable than renting. One way to determine if this is true in your case is by calculating a home's price-to-rent ratio. Some websites, such as Realtor.com, have created their own virtual price-to-rent calculators that will verify this ratio for you.

When calculating your price-to-rent ratio, keep in mind that changing markets can cause fluctuations in rental prices. And while rental rates can fluctuate, mortgage payments generally stay the same, depending on what type of loan you have. For Central Texans, economic experts predict that rental rates will steadily increase during 2011. "With increasing rent, renters will have to decide whether to keep paying rent or buy a home," said Eldon Rude, director of the Austin market at Metrostudy.

These are just a few of the reasons why buying a home can be a smart choice. For more great reasons to become a home owner, speak with a REALTOR® by visiting our Find a REALTOR® section here at AustinHomeSearch.com.

Do you know what your current credit score is? Maintaining a good credit score is challenging work, but it's important to keep your score as high as possible. Failure to do so can make acquiring loans difficult or expensive, and can limit your ability to make important purchases, such as a car or a home. Fortunately, there are many ways to improve your credit score. Below, we have listed five tips to keep your credit in good standing.

1. Obtain a copy of your credit report and check it for errors
Your credit report is maintained by three major credit reporting agencies: Equifax®, Experian® and TransUnion®. By law, you can request to see your credit report for free once a year. Subsequent requests are allowed, but doing so will require a fee.

The safest way to make this request is by visiting AnnualCreditReport.com. This is the only website that is officially sponsored by the three major credit reporting agencies. Once you have received a copy of your credit report, check it for any errors or inaccuracies. If such problems exist, correcting them will immediately improve your credit score.

2. Pay your bills and monthly payments on time
Paying your bills on time may seem like a no-brainer, but doing so is more important than you may think. In fact, your payment history accounts for 35 percent of your credit score, according to the Fair Isaac Corporation. Late or missed payments can deduct as much as 100 points off your score. Remind yourself of when payments are due by marking your calendars with due dates. Some banks may even offer programs that send monthly reminders to your e-mail, mailbox or cell phone.

3. Keep your credit card balance low
Lenders love to see a card holder whose credit balance is much lower than their credit limit. This is known as your debt-to-credit ratio. Experts recommend that you try to spend no more than 30 percent of your credit limit each month. Not only will it make it easier to pay off, but it will show the lender that you are financially responsible, which in turn will increase your credit score. If possible, increase your credit limit on your card so that your debt-to-credit ratio is even lower.

4. Whenever possible, keep your credit cards open
The Fair Isaac Corporation states that your credit history represents 15 percent of your credit score. The longer you have owned a credit card, the longer your credit history will be. Lenders like to see that you are experienced using credit and are much more comfortable lending to a loyal customer. Even if you don't use it very often, keep your old credit cards open as long as you can.

5. Refrain from applying for loans or new credit lines too quickly
The frequency at which you apply for a loan or a new credit card can negatively affect your credit score. This could give off the impression that you are desperate for money, which could mark you as a risk in the eyes of a lender. Each time you apply for a loan or a new card, the action is recorded on your credit report. Try to keep these actions to a minimum.

These are just some of the steps you can take to improve your credit score. For more information about credit scores and how you can improve your rating, visit MyFICO.com.

The Austin Board of REALTORS® recently released its Multiple Listing Service (MLS) report for December of 2010, concluding their analysis of the Austin housing market this past year. So how did Austin real estate perform in 2010?

Austin home sales posted year-over-year increases during the first half of 2010, with the biggest upsurges occurring in March, April and May (with increases of 27 percent, 31 percent and 24 percent respectively). John Horton, 2010 Chairman of the Austin Board of REALTORS®, explained that the substantial increase in sales during this period was likely due to the expiration of the homebuyer tax credits on April 30.

Horton noted that "we have the unique situation of the homebuyer tax credits that inspired many buyers to purchase homes sooner than usual. Thus, it's more meaningful to evaluate our market from a year-to-date perspective, instead of month-to-month, to gain a clear picture."

Overall, a total of 17,905 single-family homes were sold in Austin in 2010, a five percent decrease compared to 2009. Homes in Austin took an average of 77 days to sell, which is two percent less than the amount of time it took in 2009. The median price of Austin real estate remained stable, averaging at $193,520 for the year, a three percent increase from 2009.

The Austin market also remained healthy in regards to its housing inventory. The Real Estate Center at Texas A&M states that 6.5 months of inventory indicates a healthy market, with anything above 6.5 considered a "buyer's market" and anything below considered a "seller's market." Austin's month's supply of inventory ranged from 5.4 to 7.3 in 2010, while national housing inventory ranged from 6.9 to 11.9.

Heading into 2011, Austin appears to be on the road to economic recovery. Last month, attendees of the 2011 Housing Forecast co-hosted by the Austin Board of REALTORS® and the Home Builders Association of Greater Austin gained some insight into the future of Austin's housing market and economy.

Eldon Rude, Director of the Austin Market for Metrostudy and one of the speakers at the housing forecast, predicted that slowed home construction, as well as increasing apartment occupancy and rental rates would help Austin's housing market, noting that "with increasing rent, renters will have to decide whether to keep paying rent or buy a home." Rude believes that home pricing pressure, job growth and consumer confidence will help put Austin's economy back on track in 2011 and into 2012.

To learn more about real estate predictions for the coming year, watch our 2011 Market Forecast video. This video features a summary of the topics discussed at the 2011 Housing Forecast, including future trends and challenges facing the Austin real estate industry.

Statistics from the December 2010 MLS report can be found in our Austin Real Estate Report section. Be sure to check in each month as we evaluate Austin's housing market throughout 2011.

Whether you're buying your first home or moving to a new neighborhood, you will have to consider the utilities your home will need. Does your house use both gas and electricity? Would you prefer satellite television or digital cable? Perhaps the most important question is: how much will all of these utilities cost?

The Austin Board of REALTORS® and White Fence^TM have teamed up to help ease the burden of connecting home utilities by introducing CentralTexasConnect. This free online service allows you to compare prices of several essential home utilities, such as phones, television, Internet, gas and electricity, and connect them directly through the CentralTexasConnect website.

CentralTexasConnect also provides listings for a variety of home services, such as carpet cleaners, maid services, home security and much more, all in one convenient location. Using a secure search engine, you can enter your home address and zip code to let CentralTexasConnect find the best home service and utility deals being offered in your neighborhood.

Ready to start saving time and money? Visit as CentralTexasConnect.com today.

If you've ever read the Austin Real Estate Report on AustinHomeSearch.com, you've probably seen terms such as "year-to-date" and "inventory of homes." To help you decipher the real estate jargon and better understand the statistics shared from the Austin Board of REALTORS®' monthly Multiple Listing Service (MLS) reports, we've provided a glossary of terms commonly seen in real estate market reports.

Single-family homes - Though MLS reports track a wide variety of property statistics, including those regarding condominiums, townhouses and commercial properties, the general health of the Austin area real estate market is typically judged by the statistics regarding single-family homes. As the name implies, a single-family home belongs to one family and is a free-standing property with its own lot. These properties are what commonly come to mind when one thinks of a residential neighborhood property.

Median price - The median price listed on a monthly MLS report indicates the middle price point of homes sold in the past month. In other words, if home sale prices were listed from lowest to highest value, median price would be the number that falls in the middle of that list. The median price is usually referred to instead of average price, as the average price can easily be skewed by "outliers," such as a small number of very highly priced homes.

Active home sales - This term refers to property listings currently for sale on the market. Properties that are undergoing contract negotiations are not included in this figure.

Days on market (DOM) - This figure is indicates the time a property spent on the market---measured from the moment the property was listed to the point when the seller began contract negotiations.

Year-over-year - This measurement compares the market conditions from the month of the report to the same month the year prior. These statistics give readers a small snap-shot of where the real estate market stands in comparison to last year.

Year-to-date (YTD) - YTD measurements include overall market activity from the beginning of the year (January 1) to the date of the report's publication. Comparing year-to-date numbers for the current year and previous year illustrates how the overall activity seen this year compares to what we saw during the same time period last year.

It's important to use both year-over-year and year-to-date statistics to understand how this year's market compares to last. Year-over-year comparisons are useful in determining how the market is doing during expectantly high or low selling seasons, and big increases or decreases in the percent difference may indicate the influence of abnormal, outside factors and conditions.

Year-to-date figures are often a more meaningful measurement when comparing one year to another. For example, the same MLS report that shows home sales are down 15 percent year-over-year may also show that home sales are up seven percent year-to-date, indicating that the market is actually out-performing the previous year thus far.

Pending Home Sales - This term refers to listings that have sales contracts in the works. As most pending sales are likely to close in the next month, a spike in year-over-year pending home sales suggests we may see an increase in year-over-year sales the next month, although this is never a guarantee.

Month's Supply of Inventory (MSI) - MSI is a calculation of the time it would take to sell the current amount of active listings on the market, based on the average amount of sales made in the past 12 months. The resulting number of the calculation is considered a "leading" indicator of sales activity and market health.

According to the Real Estate Center at Texas A&M, it would take about 6.5 months to sell the average amount of active listings in a balanced market. Anything above 6.5 MSI is considered to be a "buyer's market," while anything below is often considered a "seller's market."

These are just a handful of terms to help you understand what each MLS report conveys about the Austin real estate market. Be sure to speak with your Central Texas REALTOR® to clarify what these statistics mean and how they may affect your transactions, whether you are looking to buy or sell an Austin home. To stay abreast of the most recent market statistics in Central Texas, visit our Austin Real Estate Report section here at AustinHomeSearch.com.

There's no better time than the holiday season to remind ourselves of why we should be grateful. For Austinites, gratitude is easy to come by, as there are hundreds of reasons to love the Texas state capital. Below, we've narrowed down our list and chosen five reasons we're lucky to live in Austin, Texas.

Originality
This summer, Kiplinger ranked Austin No. 1 as the "Best City for the Next Decade." It's "best of" list sought to emphasize cities which "specialize in out-of-the-box thinking," having traits that encourage innovation in business, culture and technology. Kiplinger described Austin as "the country's best crucible for small business."

Economic Stability
Texas has fared much better than most states during these tough economic times. Newsweek noted that the "Texaplex"—Austin, Dallas, San Antonio and Houston—is "the No 1. destination for job-seeking Americans." In addition, The Austin American-Statesman recently reported that the job market in the Austin area has remained strong throughout the past year, having added more than 18,000 jobs since November 2009. Austin also has a lower unemployment rate when compared to many other cities in and out of Texas.

Real Estate Strength
Historically, Austin's housing market has maintained its value quite well. For example, the average home purchased in December 2002 and sold six years later in December 2008 appreciated 20 percent. With some Austin mortgage payments requiring less than $800 a month, Austin was also voted No. 1 for affordable housing by U.S. News in 2010, and was named the second healthiest real estate market by Hanley Wood Market Intelligence in 2009.

Excellent Education
Austin is home to the University of Texas and seven other public and private universities, as well as 29 public school districts, 17 charter schools and 69 private schools. In September 2010, The American Institute for Economic Research placed Austin at No. 2 for best mid-sized college town in the country. The article highlighted a wide array of statistical data pertaining to Austin, including high degree attainment, student diversity and varied commuting options, as well as Austin's "ample arts, strong creative class and beating entrepreneurial heart."

Never-ending Fun
Last but not least, it's hard not to mention how much fun you can have in Austin! Portfolio.com named Austin the No. 1 best city for young adults, citing the annual South by Southwest festival and its high population of 18–34 year olds (about 28 percent of the total population) as examples. However, the young–at–heart can find pleasure in Texas state capitol as well. TopRetirements.com ranked Austin as the 5th best place to retire, out–ranking 95 other cities.

Austin regularly receives praise from research groups and publications across the country, whether it be for our diverse music scene, our booming small business trade or our quirky culture and vibe. For more reasons to be thankful that we live in Austin, Texas, check out our Austin/Central Texas News section here at AustinHomeSearch.com.

We wish you and your family a happy, healthy and safe holiday season!

You may have heard about—or even been affected by—the recent foreclosure freeze and be wondering exactly what led to this situation and what it means for home buyers and sellers. If so, the following information may help share shed some light on the issue.

Earlier this month, Bank of America froze home foreclosure sales in all 50 states after reports indicated that employees of the lenders may have mishandled foreclosure documents. Other major lends such as JPMorgan Chase and GMAC Mortgage followed suit, though they limited the freeze to 23 states, not including Texas. The freeze was a response to allow these lenders time to review the foreclosure process and determine whether recent foreclosures were in accordance with state laws.

Suspicions are aimed at an illegal practice known as "robo-signing," which refers to signing an affidavit without adequately reviewing the document. The practice is called "robo-signing" because the documents are signed quickly, almost automatically, as if a computer performed the task. Without fully understanding the affidavit being signed, lenders risk placing foreclosures on homes without having the legal right to do so.

In Texas, a demand letter was sent to 30 mortgage banking and servicing institutions by the Texas Attorney General, requesting that they "suspend all foreclosures, all sales of properties previously foreclosed upon, and all evictions of persons residing in previously foreclosed upon properties." The letter's definitions of possible infringement includes "signing documents without reading them," and "filing documents with records attached that did not correctly reflect loan payments, charges and advances."

John Horton, Chairman of the Austin Board of REALTORS®, recently spoke to KVUE news in regards to this matter. For sellers with non-distressed assets, Horton noted that the situation may help them compete with foreclosures, as buyers may be less inclined to purchase properties affected by the foreclosure freeze. Horton also mentioned that the freeze shouldn't have a drastic effect on the Austin area, as only about five percent of the Austin market consists of foreclosed properties. However, Horton noted: "...for sellers, if they can wait to put their home on the market in the Spring, they probably should."

Recently, Bank of America and other banking institutions have begun lifting the freeze in many states. In states where the freeze has been lifted, court cases have been proceeding to determine the validity of foreclosures on a case-by-case basis. In states such as Texas, where judges don't sign off on foreclosures, the freeze is scheduled to continue for an undisclosed period of time.

For more information and updates on this issue, talk to your REALTOR® or visit the National Association of REALTORS® website at www.realtor.org

When conducting your home search, you may find that the house you're interested in is part of a homeowners association (HOA). For some homeowners, belonging to an HOA is desirable, while for others an HOA is seen as a nuisance. If you're unsure of what life in an HOA may entail, the following information can be of help.

What is an HOA?
In return for assessments paid by its members, an HOA typically works to ensure that deed restrictions are enforced, amenities and common areas are maintained and, most importantly, property values are protected. An HOA is governed by association by-laws, to which all HOA members must adhere.

An HOA has a Board, comprised mostly of residents in the neighborhood. The Board generally hires a property management company to handle enforcement and maintenance issues and may create subcommittees to help the HOA deliver a number of services to members—some of which would otherwise be handled by local governments, such as arranging for security and street maintenance. Board meetings are held regularly to discuss neighborhood developments and issues, and HOA members may attend to share their input, as well.

Moving into a neighborhood that is part of an HOA automatically makes you a member of their organization. However, a screening process, signed agreements to abide by the HOA's covenants, conditions and restrictions (CC&Rs) and a fee are usually required before you are officially allowed to move in.

Why Some Homeowners Prefer HOAs
Many homeowners enjoy being a member of an HOA. Some neighborhoods that support HOAs may have amenities such as swimming pools, tennis courts, walking trails or other common areas for members to enjoy exclusively. An HOA can also help settle disputes between neighbors, acting as a third party in mediating the situation.

Perhaps one of the biggest benefits of living in an HOA-governed neighborhood is that properties generally maintain their value quite well. This is due in large part to the fact that HOA's CC&Rs usually dictate that every house within the neighborhood have a consistent appearance. If your neighbor's house had overgrown grass or an unusual color scheme, it could detract from the value of your property, making it more difficult to sell should the situation arise; however, by mandating that all properties be well-kept, an HOA ensures that every house has equal opportunity to maintain its market value.

Why Some Homeowners Do Not Prefer HOAs
On the other hand, there are people who avoid living in a neighborhood managed by an HOA. Common complaints are often directed towards an HOA whose rules are viewed as too strict. For example, an HOA may enforce rules where flower pots must be a specific color or a dog must be a certain size or breed. Residents who wish to have more freedom regarding how their house looks may find HOA rules stifling. Failure to comply with HOA rules can lead to hefty fines and the possibility of being evicted or having a lien placed on your home.

Be aware that an HOA also has the authority to raise dues at any time without warning. This is usually done to fund new developments in the neighborhood or to compensate for increased costs of living. Some homeowners may find this frustrating, as they cannot anticipate how much their dues will cost for each pay period.

What Steps to Take Before Moving In
When considering moving into a neighborhood that is part an HOA, try to learn as much about the organization as possible. Find out what the CC&Rs dictate before you make the decision to move in, and determine whether you'll be able to follow them. You should also request to see the most recent minutes of the HOA's Board meetings for some insight into the HOA's budget and the frequency of changes made to dues.

Your lifestyle will likely determine your preference about living in an HOA-governed neighborhood. Always do your homework before moving in to make sure that the HOA will work with your goals and interests. For more information about HOAs in the Austin area, visit Austin City Connection or Main.org.

Congratulations! You have found a seemingly perfect neighborhood and just moved into your dream home. All seems well…until you begin to notice that the dog across the street barks all night long and the teenager next door likes to practice playing the drums at 5 a.m.

No matter where you live, you may occasionally be faced with a not-so-courteous neighbor. Below are some tips to help you deal with any issue in a good neighborly fashion.

Speak Up
The best solution for dealing with disruptive neighbors is to talk to them. If they are playing music too loudly, for example, let them know about it. A simple polite request to turn the volume down will usually solve the problem that very moment. The worst thing you can do when faced with a disturbance is to do nothing at all. If you don't voice your concerns, your neighbors may never realize they are bothering anyone.

When approaching others about an issue, it is important to be open to compromise. If they can't bear to discontinue their behavior, perhaps they'll be open to changing the day or time they engage in the activity so that it becomes less disruptive. By suggesting compromise to resolve an issue, you act as a friend trying to reach an agreement—not a stranger trying to mandate change.

Don't Fight Fire with Fire
Being polite is critical. Greeting your neighbors with an angry attitude could escalate the issue and turn you into the annoying neighbor. If your neighbor reacts angrily to your request and proves impossible to talk to after various attempts on your part, it may be wise to seek the help of an outside authority, such as a landlord or even the police, depending on the severity of the disturbance. If you ever feel threatened by your neighbors after making a complaint, you should contact the police.

Do Your Homework Beforehand
Visiting a neighborhood during different times and days of the week before moving into it can help you avoid unpleasant surprises, as it will give you a deeper sense of the neighborhood's noise and activity level. Walking around the block—instead of driving—will allow you to better assess sights, sounds and smells, as well as talk to potential neighbors.

Remember that everyone has a different lifestyle, and what you consider inappropriate may seem completely normal to someone else. By doing your homework and working to peacefully co-exist with your neighbors, you all can enjoy your properties with little to no trouble at all!

When searching for a new home, it's important not only to look at your finances and the outward appearance of a home, but to think about the underlying factors that would make a home ideal for you. When looking at perspective homes in the Austin area, consider the following factors and ask yourself these questions:

Stay time. How long do I plan on residing in this house? Will this be a long-term investment? Do I see myself being able to live here for the amount of time I expect to stay?

Size. How many people will be living here? Is there enough space to store all belongings? Will I be able to maintain a house of this size now and in the future?

Floor plan. Is the overall layout of this house convenient for me? Are the features of this home, such as stairs, accommodating to any small children or elderly who may live here with me?

Structure. Have I had the home inspected and talked to the seller about past repairs and remodeling? Will any structural or mechanical maintenance be required? How long will necessary maintenance take to complete? Will this house remain sturdy during times of bad weather and everyday wear-and-tear?

Neighborhood. How safe is this neighborhood? Is this a high-traffic or high-noise area? How does neighborhood activity compare at different times of day? Is this home part of a Homeowners Association and, if so, what fees are required?

Community. Does this community offer easy access to grocery stores, places of worship, shopping centers and entertainment? How does this location affect my commute to work? Would I prefer to live in a quieter, more rural community?

Schools. Which school district does this home belong to? Are there any good private or parochial schools in the area?

Of course, there are many other issues to consider throughout the homebuying process. For a list of questions to ask yourself along each step of the way, consult this homebuying list prepared by the U.S. Department of Housing and Urban Development (HUD), or talk to your Central Texas REALTOR®.

As a home buyer or seller, you may have heard of the "MLS" but have questions about what that term actually means. If that's the case, we're here to help! The following Q&A can help shed a little light on the subject.

1. What is the MLS?
The Multiple Listing Service (MLS) is database of property listings. Properties for sale are listed in the MLS by REALTORS®. REALTORS® are a valuable tool in your Austin home search because they have exclusive, direct access to the MLS, which provides them with full property descriptions, as well as additional details about each home, including security codes, tax data and historical information. Though online property searches available to the general public provide basic information about a home—such as the square footage and number of beds and baths—this is only a fraction of the details shown to REALTORS® via the MLS.

2. How does MLS listing content get online?
There are two ways MLS content is distributed online. First, real estate associations can feed property details from the MLS directly to their consumer websites. For example the property search data on AustinHomeSearch.com comes directly from the Austin Board of REALTORS®' (ABoR) MLS.

Second, real estate associations offer tools that allow REALTORS® to feature property listings from the MLS on their personal websites, as well as send their listings to third party websites such as www.zillow.com. Tools provided by real estate associations are directly connected with the MLS; therefore, when they are used as the primary tool in sending listings to other sites, the property data distributed is correct and remains current. That said, third party sites receive data from a variety of other sources, some of which may not distribute information straight from the MLS.

3. Can I trust the information on any real estate agent's website?
Typically only REALTORS®, who can be distinguished by their membership in the National Association of REALTORS® (NAR), can access the MLS. Therefore, property listings should be accurate if you are visiting a REALTOR®'s website.

4. Are all home search sites the same?
No! Home search sites hosted by real estate associations or by REALTORS® offer the most current and comprehensive property information because they receive data feeds directly from the MLS. Third party home search sites can feature some inaccurate or outdated information because they receive property data from many different sources, some of which do not pull their listings straight from the MLS. Finally, it nearly goes without saying that property listings found on websites such as www.craigslist.com should be viewed with the utmost caution, as there is no guarantee of accurate information or ethical conduct by those posting the listings.

Now that you know a little about the MLS and what makes AustinHomeSearch.com one of the most trusted home search sites, contact a REALTOR® and start browsing for properties today!

HGTV is coming to Austin to cast for reality television show My First Place. If you're looking to buy your first home in the Austin area, you could be featured in an episode of the show!

"Fun, high-energy" homebuyers in Austin are encouraged to apply, as long as they are comfortable sharing the personal and financial aspects of their home buying experience.

Selected applicants will be filmed for a minimum of ten days within a three-month period as they go through the ups and downs of finding and securing their first place. They will also receive a special housewarming gift and DVD copy of their episode from HGTV, in addition to a taste of television stardom.

Buying your first home is an experience you won't forget. Applying to be cast for My First Place could be just the way to make your experience even more memorable.

The first quarter of 2010 put forth a solid performance from the Austin real estate market. While home sales increased modestly during January and February, year-over-year Austin home sales increased a remarkable 27 percent in March, bringing the total amount of homes sold in the first quarter to 3,749 - a 12 percent increase over the first quarter of 2009. The median price of Austin homes remained relatively unchanged from one year ago, ending the quarter at $180,000.

Pending sales, which indicate the number of homes expected to sell in the next couple of months, remained elevated during the first quarter, increasing 7 percent in January, 24 percent in February and 31 percent in March 2010. These increases bode well for the Austin real estate market.

In the face of increasing sales volume, the Austin real estate market maintains a healthy inventory of homes. The Real Estate Center at Texas A&M University cites 6.5 months of inventory as a balanced market, meaning demand for homes is evenly balanced with inventory of homes for sale. At the end of the first quarter, Austin held a 6.4 month supply of homes.

For more information on the Austin real estate market and how it may affect your buying or selling situation, contact your Central Texas REALTOR®.

When it comes to buying a home in Austin, there is a world of financing options to choose from. Descriptions of some of the most popular loans are listed below.

Conventional Mortgages -- Mortgages not insured by the federal government are called conventional loans. Conventional loans are either kept in the lender's investment portfolio or sold to a secondary market. Because there is no standard regulation from state to state or from lender to lender for conventional mortgage documents, these types of loans are specific to the lender. This means that the lender may determine unique guidelines that pertain to the lender's conventional loans and may add certain clauses to the loan document. Because the lender can underwrite conventional loans at the its discretion, loan rates may exceed those of loans backed by the government.

Fixed Rate Mortgage (FRM) -- With a FRM, the interest rate of the mortgage remains fixed throughout the life of the loan. While the rates on FRMs are sometimes higher than rates on other types of mortgages, an increase in market rates will not impact the rates on the loan. Monthly payments on FRMs change only when there are changes in tax and insurance rates.

Adjustable Rate Mortgage (ARM) -- With an ARM, the rate on the loan is adjusted according to various market fluctuations. The interest rate and monthly payment can change each month, quarter, year or a term determined by the type of ARM; however, there are caps limiting the amount the interest rate can be adjusted per period. Buyers interested in adjustable rate mortgages should be sure to obtain the indexes that the lender uses to adjust the loan.

Federal Housing Administration (FHA) Loan -- FHA loans are insured by the federal government. This means that if the borrower defaults on the loan, the federal government will pay the lender and the lender will not have to write off the loan. A borrower's down payment may be as low as 3.5 percent, and closing costs can sometimes by included in the loan. Rules regarding credit qualification and gifting for down payments are relaxed, and financial hardship rules may be less stringent.

VA Loan -- A VA Loan is insured by the Department of Veterans Affairs and protects a lender from loss should an eligible veteran default on the loan. VA loans have established credit and income guidelines and the buyer usually does not need a down payment; however, down payment may be necessary if the lender requires one or if the purchase price of the home is greater than the reasonable value of the home. Mortgage insurance premiums are not required and the VA provides temporary assistance should the buyer encounter financial hardships.

Be aware that there many more types of loans to choose from. Some, such as Graduated Payment and Growing Equity loans, cater to those who currently have a low income but expect their income to increase substantially within the next five to ten years. Others, such as Reverse Mortgages, cater to homebuyers over the age of 62. Be sure to continue your research and talk to your REALTOR® about which option may be best for you.

Moving into a new Austin home is an exciting time for you and your family, but it can be very stressful for your pets. It's important to clearly think through how you will handle your pet's adjustment to its new home.

Before your pet moves into the new house, do a safety perimeter check. Are there any plants in the yard that may be poisonous? Is the fence secure? Also check the inside of your home for potential safety hazards and decide where your pet's food and bedding will be kept that you won't confuse your pet by moving those items later. Try to imagine every situation from your pet's point of view and deal with it before it becomes an issue.

When moving to Austin from out of town, you may want to consider a pet relocation service, which will arrange for door-to-door transportation including pet-friendly flights, climate-controlled vehicles, boarding services, veterinary services and more. If you are relocating due to a job transfer, check to see if this is can be covered by your employer.

Even if you're moving to an Austin home from within Central Texas, you may consider boarding your pet for a day or two while executing the actual move. The commotion, the changing environment and the new people (movers) in your house can put undue stress on your pet. Boarding your pet will allow you to concentrate entirely on the move and relax knowing that your pet won't be underfoot or running out the front door.

Once you've moved into the new home, try to keep your pet's surroundings as familiar as possible. Let your dog or cat have its old blanket, its favorite toy and its same food. Take time to walk your pet around your new Austin neighborhood or release some pent-up energy at the nearest dog park. Sitting down and petting your dog or cat is the easiest way to assure them that everything is fine and if you put your feet up, you'll feel better too.

Finally, it's important to update your pet's microchip information right away so that you'll be contacted if your pet has been lost and found. And always remember: Pets are resilient, so it shouldn't be too long before your cat or dog is ruling the roost once again!

Did you know the U.S. population is becoming increasingly older and diverse? What's more, our nation's population is expected to increase by 100 million people in the next 30 years!

A report released by the National Association of Home Builders in January 2010 indicates that homebuilding trends are shifting to meet the new demands of present and future homebuyers. Specifically, homes built in 2010 will likely be smaller and lower-priced models that offer more energy-efficient features.

The following items are reported as most likely to be found in new homes in 2010:

• Walk-in closet in master bedroom
• Laundry room
• Insulated front door
• Great room
• Low-emittance (Low-E) windows
• Linen closet
• Programmable thermostat
• Energy-efficient appliances and lighting
• Separate shower and tub in master bathroom
• Nine-foot ceilings on first floor

These features will likely replace those that are less essential or more costly, such as outdoor kitchens, two-story foyers and multiple shower heads in master bathrooms. Homes that are easier to maintain are in, and energy inefficiency is becoming a trend of the past. For more information regarding homebuilding trends and homebuyer preferences visit www.nahb.org.

With the first-time homebuyer tax credit extended to April 31, many Central Texans are jumping at the chance to take advantage of this opportunity before time runs out. If you're ready to buy an Austin home, now may be a great time to do so. But how do you know if you're ready?

The most important factor to consider when it comes to buying a home is the state of your personal finances. Do you have sufficient savings to cover downpayment and closing costs?

Downpayment requirements can range from zero to 20 percent, depending on which type of downpayment assistance and mortgage loan you receive (FHA loans are often popular with many first-time home buyers). In addition, it is possible to negotiate an offer for a home that requires the owner to pay some or all of your closing costs. But don't count on having all of these costs covered, and be aware that less money down usually means higher mortgage payments.

Having a good credit report increases your chances for getting the best loans. Make sure your credit report is up-to-date and correct by getting a report from Equifax, Experian and TransUnion. Also be aware that having made a big purchase (i.e., new vehicle) in the recent past could hurt your chances for getting the best loan.

Don't forget to consider your career goals and job security. Homeownership comes with monthly mortgage payments, so it's important to have steady and consistent income.

Once your financial house is in order, it's time to talk with mortgage lenders to determine what you can afford and begin taking the appropriate steps with your REALTOR®. For more information, visit the Consumer Tools section of AustinHomeSearch.com. Happy house hunting!

What began as a year with double-digit decreases in year-over-year home sales concluded with 2009 year-end totals falling only six percent short of the year prior. This comeback was made possible by the surge in home sales seen in the fourth quarter of 2009—a 38 percent increase in October and a 58 percent increase in November—possibly attributed to the original deadline for the first-time homebuyer tax credit.

Local economic conditions, housing trends and extended homeowner incentives lead most experts believe that the Austin housing market reached its bottom in 2009 and is now on the path of stabilization and recovery, though significant gains are not expected until the later part of 2010.

For a review of the Austin real estate market’s performance in the fourth quarter of 2009 and indicators as to what activity we might expect in the coming months, don’t miss the latest edition of AustinHomeSearch Live. For further information on market conditions, contact your Central Texas REALTOR®.

If you've recently purchased or are about to purchase a new home, congratulations! Becoming a property owner is the first step to building wealth through Austin real estate. As you prepare for the process of moving your belongings into your new home, don’t forget several other important "to-do's" that come with a change of address.

The U.S. Postal Service recommends submitting a Change of Address (COA) request at least two weeks before you move. Request forms can be filled out at the post office or filled out online and then printed and delivered to the post office.

Though you'll begin receiving your usual mail at your new address after your COA has been processed, it's still important to notify the following entities and persons of your address change to help prevent any miscommunication, interruption of service or missed payments:

• Banks
• Schools
• Employers
• Internet providers
• Family and friends
• Insurance companies
• Telephone companies
• Credit card companies
• Loan collection agencies
• Gas, electric and water utility providers
• Medical offices (doctors, dentists, veterinarians, etc.)

In addition, don't forget to update your vehicle registration and driver's license, as well as your voter registration information. If you’re moving within the same county, you can update your voter registration online; however, if you're moving to another county, you must completely re-register to vote by mailing or hand-delivering an application to the Voter Registrar of your new county.

Remember: Even though your "to-do" list might appear overwhelming, it doesn't have to be completed overnight. Tackle a few items on your list each day in order of importance and this phase of the moving process will be over before you know it.

Looking for a sound financial investment?

Consider Austin real estate. The average Central Texas home purchased 6 years ago has appreciated 20 percent—that’s an amazing return!

To capitalize on your real estate investment, keep in mind that your home is not just your living environment—it’s your largest asset. From the moment you begin looking for a home to the moment you sell it, make conscious decisions to help maximize its worth.

During your home search, look past aesthetics and notice the neighborhood. Homes within good school districts and in close proximity to businesses, major roadways, and developing areas will be worth more to potential buyers when it’s your turn to sell.

Once you’ve purchased a home, be an active investor. Work to improve the appearance of your property and the neighborhood at large. Participate in local business, support local schools, and encourage home maintenance among your neighbors.

Taking care of your home and neighborhood does take some effort but can reap thousands of dollars in reward. Why not begin building wealth through Austin real estate today?

For more information about home investing, see the Consumer Tools section of AustinHomeSearch.com or consult with your REALTOR® today.

If you’re looking to buy a home in Austin, Texas, we have good news for you: The state of Texas’ disclosure laws help safeguard your best interests in the real estate transaction.

It wasn’t always this way.

In the early 1960s real estate agents were required by law to represent the seller's interests, leaving no need to disclose a property’s defects to potential buyers. Today, however, real estate disclosure is codified into national and state laws as an extension of consumer rights. Home sellers now have specific duties to buyers in real estate transactions.

A good example of a nationally codified disclosure law is the 1992 Estate Disclosure and Notification Rule, which requires sellers of homes built before 1978 to disclose potential or known lead-based paint hazards and provide available written reports to buyers or renters.

Texas law now requires that sellers provide buyers with a completed Seller's Disclosure of Property Condition Notice on or before the effective date of a contract. The notice must disclose all potential or known structural defects, as well as information concerning issues with any of the following:

• Heating
• Plumbing
• Mechanical and electrical systems
• Easements
• Environmental hazards
• Landfills
• Flooding
• Zoning violations or noise problems
• Termite and pest infestations; or
• Treatments or damage

Though all real estate agents are required to adhere to disclosure laws, REALTORS® go a step further to ensure that clients are treated fairly not only by legal standards but by strict ethical standards as well. In following a strict Code of Ethics, REALTORS® disclose any and all relevant information to their clients to avoid misrepresentation of themselves or the property at any time during the transaction.

Working with a REALTOR® can help you avoid legal issues common in real estate transaction. For more information about your real estate rights, visit the Consumer Tools section of AustinHomeSearch.com.

Finding time to meet your neighbors can be difficult, especially after a recent move. If you’re not sure how to make the first move, try these ideas:

1. Introduce yourself with cookies. Bring a small plate of cookies to your neighbors’ door with a personalized note attached; this will help them remember your name once you’ve left. If your neighbors aren’t home, come back later — simply leaving the cookies on their front porch could make them feel as if they have to leave a gift on yours...and you still will never have met.

2. Spend time outside. Working in the yard or sipping cocoa on the front porch makes you visible to neighbors walking their dogs or checking their mail. Smiling and waving to passersby will let neighbors know you’re genial and may spur some friendly conversation.

3. Get involved in community activities. Everyone is busy, but be sure to take time out of your schedule to attend whatever holiday carnivals, school shows or community gatherings you feel comfortable with. People are often in a jolly mood at these events and discussing the special occasion can be a conversational icebreaker.

4. Host a holiday get-together. Just moved in? Throw a housewarming party and invite the neighbors! Just be sure to have enough food and drink (including non-alcoholic beverages), schedule the party for a reasonable day and time, and remember to write "No Presents" on the invitation. Neighbors may not come if they think you expect gifts.

Fact or fiction? Find out which statements are complete myths when it comes to Austin’s real estate market.

1. Home prices have decreased dramatically. Wrong! Data from the Austin Board of Realtors® shows that median price levels have remained stable while gradually increasing—for example, a median price of $175,500 seen at the start of this year (January 2009) had become $185,250 by the end of the third quarter (September 2009). In addition, median prices seen throughout 2009 have fluctuated only slightly compared to 2008 while remaining above those seen in 2007.

2. It’s the wrong time to buy real estate. False! Thanks to its job market, stable home prices and affordability, Austin has the second healthiest housing market in the nation. There are plenty of homes available, and those ready to buy can take advantage of homebuyer tax credits, housing grants, low interest rates and renewable energy incentives.

3. It’s the right time for everybody to buy real estate. Nope! Whether it’s a good time to buy depends not only on the local housing market, but on the goals and unique situation of each person. Someone who is neither emotionally nor financially ready to handle homeownership should not enter into a real estate transaction—even when the market presents good opportunities. Talk to your REALTOR® to make the decision that’s right for you.

4. It’s a terrible time to sell. Wrong again! Austin real estate is sold every day to first-time and seasoned homebuyers looking to take advantage of amazing homeownership opportunities and incentives. In addition, sellers who work with a REALTOR® can usually sell their homes more quickly…in any market.

5. More homes are being sold by owners, making REALTORS® obsolete. No way! In the Austin area area, the percentage of people who planned to use a REALTOR® rose to 82 percent in 2008. According to the National Association of REALTORS® (NAR) the majority of For-Sale-By-Owner (FSBO) sellers are located in rural areas and small towns where the seller knows the buyer. It’s important to recognize that the value of REALTORS® goes beyond their access to the Multiple Listing Service (MLS)—it lies in the many other resources and services they bring to the table.

Central Texas real estate is different. Get the facts from your REALTOR® today or Find a REALTOR® on AustinHomeSearch.com.

So it’s time to move. Instead of reaching for the panic button, form a plan of attack. The following tips can help:

1. Call the mover. If planning to use a moving company, call for estimates about six weeks in advance. This will give you time to review transportation costs and insurance plans and help ensure movers will be available.

2. Get rid of the junk. Why spend time, energy and money moving items that you’ll only throw away once you move in to your new home? Hold a garage sale to get rid of unwanted items or donate them to charity before you start packing.

3. Contact service providers. Alert gas, electric and water utility providers of your upcoming move so that you’ll have service upon arriving in your new home. Also make sure bills and any publications you receive will be forwarded to your new address.

4. Pack deliberately. Pack items of similar nature or from the same room in the same box—this will make unpacking much easier. Clearly label the contents of each box and indicate the room to which the box should be delivered.

5. Protect your goods. Keep dirt, dust and scratches off your furniture by covering it with old fitted sheets. Individually wrap breakables in paper before placing them in a box. Newspaper will work fine, although it can leave a film on your dishes that you’ll need to wash off, so you may want to consider purchasing white packing paper. Be sure to line your box and stuff open pockets with plenty of crumpled paper, towels or other linens. If you can hear a “clinking” noise as you pack or move items, you’ll need to add more padding.

6. Separate essentials. Prepare a “carry-on” box or bag containing items you’ll need access to during the trip or upon arrival. This may include toiletries, disposable plates and utensils, important papers, cell phone chargers, and so forth.

Remember: By planning ahead, staying organized and finding a way for the whole family to get involved, you can avoid some of the frustration and anxiety that often comes with such events and focus instead on the excitement of moving into your new home!

If you’re in the market to buy or sell Austin real estate, you may have heard of Austin’s energy efficiency ordinance, officially known as the Energy Conservation Audit and Disclosure (ECAD) Ordinance.

Under the ECAD Ordinance, some Austin homeowners are required to have an energy audit performed on their home prior to selling it and share that audit report with potential buyers. In most cases, an audit is required for homes lying within the Austin city limits that are older than 10 years and serviced by Austin Energy. (Exceptions apply, so talk to your REALTOR® about whether the ordinance will affect you.)

Though the ECAD ordinance took effect June 1, 2009, the city’s effort to “go green” and stop manufacturing excess carbon dioxide (CO2) dates back much further.

In 2007, 70% of the city’s electricity was being used by homes and commercial buildings, with the average home generating twice the greenhouse-gas emissions as the average car (roughly 11,450 pounds of CO2 yearly, according to the Environmental Protection Agency).

With this in mind, the Austin City Council established the Austin Climate Protection Plan (ACPP) with the goal of making Austin “the most livable city in the country” and a carbon-neutral city by 2020.

As the ACPP consists of five components, each with their own specific initiatives, the ECAD Ordinance was created to address but a single part of the puzzle: how to pursue energy efficient upgrades for existing buildings. The ECAD Ordinance seeks to educate homeowners on potential for energy savings within their home in hopes that they will voluntarily opt for cost-effective upgrades.

Energy audits are good for 10 years, so consider having an audit performed on your home now to prevent a last-minute scramble and begin benefiting from the audit findings today. For more information on the ECAD Ordinance, talk to your Central Texas REALTOR®.

Thinking of buying or selling real estate in Austin, Texas? That’s fantastic!

As history has proven, Texas survives. That’s why we are ranked as the top state for business and jobs in the current economy, the second largest cyber state and fourth best tax free haven.

And located in the heart of the Lone Star State, Austin has been recognized among the top 10 best cities to live.

So what does this mean for Austin’s housing market?

Undeniably, effects of the national economic crisis have trickled into nearly every city in the nation. However, because of its location, diverse economy, and business opportunities Austin has been named the city best poised for recession recovery by Forbes, with its economy projected to grow by $5 billion by 2010.

Though Austin has taken its lumps by way of decreased sales volume along with everyone else, “the bloom is back in Austin’s yellow rose” according to Boyce Thompson of Builder, which ranked Austin the second healthiest housing market for 2009 based on its location, pricing and population trends, number of building permits and local job growth.

Austin real estate has proven a strong investment. Those who purchased a home at Austin’s median price six years ago would find that it has increased in value by 20 percent. The city continues to “hold the line” on home value because Central Texas real estate prices have not experienced periods of rapid inflation or deflation.

AustinHomeSearch.com is one of the most trusted and comprehensive online resources available to find a REALTOR®, browse properties and learn more about Austin real estate. Why not begin your Austin home search today?

Whether you’ve just moved to Austin or have lived here your entire life, there’s always something new to learn about the capital of Texas, a city constantly buzzing with music, business, technology, outdoor adventure and family fun.

U.S. News & World Report ranks Austin as the third best place to live, based on its economy, affordability and fun things to do—and that comes as no surprise to native Austinites or the thousands of people who find jobs, buy real estate and first experience the social scene in Austin every year.

Officially recognized as the "Live Music Capital of the World" since 1991, Austin is stage to a wide variety of popular and up-and-coming artists. Well-known music festivals including Austin City Limits and SXSW (South by Southwest) attract music lovers from around the world, and live music can be heard in Austin every day of the week.

Relocating to Austin? Good choice. Austin has been named the best city for a "fresh start" and the region best poised for recession recovery. In addition, Austin maintains its status as a fit city, boasting low levels of chronic health conditions and offering a wide variety of outdoor and indoor fitness activities.

With so many entertainment, business and real estate opportunities in Austin, it can be hard to know where to begin. AustinHomeSearch.com is your source for community and Austin real estate information. Visit the "Find a Property" and "Find a REALTOR®" sections to begin your Austin real estate search today!