Bastrop is a wonderful "little" city to live in. Nestled in the middle of the "Lost Pines" it makes a beautiful place to live and it is convenient to Austin- Bergstrom Airport, Austin and is growing by leaps and bounds! Since 2000, the population has jumped by more than 42% and the cost of living in Bastrop is nearly 22% lower than the rest of the country; no wonder people are flocking to Bastrop.
Since Bastrop is growing so quickly, so is the economy. Jobs have increased by nearly 3.0% and if you have noticed, there are new shopping centers and business's popping up virtually on every corner! One of those businesses is "Burleson Crossing." It is a shopping center that will span about 900,000 square feet and will include businesses such as Lowe's, Best Buy, Kohl's, Petco and IBC Bank.
Bastrop is also called the "Most historic small town in Texas." Bastrop is nestled by the Colorado River; the historic district down town has many shops and restaurants and the near by neighborhoods contain more than 130 historical sites.
Some of the more popular sites in Bastrop include The Bastrop Opera House; which was built in 1889. It is still in business and hosts a number of productions which include children's theatre, arts and crafts. If you are interested in seeing a production at the Bastrop Opera House, or for more information on what productions are scheduled, you can contact them at 512-303-6283 .
Another popular site is the Bastrop County Historical Society Museum. It is located at 702 Main Street in down town Bastrop. The house was built in around 1850 and the museum was established in 1952. Inside visitors can see documents and artifacts relating to the history of the Little Colony of Stephen F. Austin, furniture and artifacts dating back to the 1800's, saddles and such. It is a very interesting tour and worth the visit. For more information on museum, you can contact them at 512-303-0057 .
Along with the popular historical district, Bastrop also has two state parks near by. Bastrop State Park, which is located at 3005 Highway 21 and Buescher State Park, which is located near Bastrop in Smithville. Both parks offer fishing, camping, swimming and many other activities for the entire family to do.
Bastrop offers plenty of space for new families. The neighborhoods and newly developed communities offer residents many different choices in finding that perfect place to live; by buying an already built home or purchasing land to build your dream home on. Many of the sites offer residents up to an acre to build on, giving families plenty of room to expand.
Purchasing acreage to build on is an option in Bastrop as well. There are many outlying communities near Bastrop with open space available; some without homes and many with homes already built. The choice is unlimited.
Bastrop is a wonderful community and is growing. It has the small town atmosphere and big city amenities. Next time you're heading out that way, stop and visit, who knows, you may find your dream home!
By Ki Gray and Dane Smith
Wednesday, April 29, 2009
Thursday, April 23, 2009
Just returned from the NAR (National Association of Realtors) and TAR (Texas Association of Realtors) Regional Meeting in Austin, Texas. What's new?
How about the $8,000 tax credit for buying a home? Yes, it will be credited on your income tax but it will just about cover your down payment (on a starter home/FHA/VA/TxVet) and your closing costs.
If you have already submitted your 2008 tax return (of course you have); then you can file an amended tax return and your favorite uncle (Uncle Sam) will send you a check back!
What's not to love? Let's go find a home to buy!
How about the $8,000 tax credit for buying a home? Yes, it will be credited on your income tax but it will just about cover your down payment (on a starter home/FHA/VA/TxVet) and your closing costs.
If you have already submitted your 2008 tax return (of course you have); then you can file an amended tax return and your favorite uncle (Uncle Sam) will send you a check back!
What's not to love? Let's go find a home to buy!
Monday, September 15, 2008
2008 Housing and Economic Recovery Act
We have heard much about the new Act H.R. 3221, that was the Government answer to bad business practices by certain banks and mortgage institutions across America. The Government thinks there should be a Government solution to all life's ups and downs. The question is, what does it mean for you?
Here is what the act does:
GSE Reform: new conforming limits for your local areal of loan limits up to the greater of $417,000 or 115% local median home price, capped at $625,000. Austin-Central Texas area limits: $417,000 Effective date 12-31-08.
FHA Reform: permanent FHA loan limits of the greater of $271,050 or 115% of local area median home price, capped at $625,000 and reforms for the manufactured housing program. Downpayment requirements are up to 3.5% (fom 3.0%). Austin-Central Texas area limits:
$271,050 Effective 12-31-08
Homebuyer Tax Credit: A $7,500 tax credit that would be available for qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years, interest free.
Additional Property Tax Deduction: HERA provides a one year benefit that will be available to all homeowners. Under current law, property taxes are deductible only if an individual itemizes his/her deductions on Schedule A. The new provision will permit a deduction of up to $500 ($1,000 on joint return) for all individuals who utilize the standard deduction and do not itemize.
FHA Foreclosure Rescue: Refinance program for homebuyers with sub-prime loans (adjustable) Lenders would write down qualified mortgages to 85% of the current appraised value and qualified borrowers would get a new FHA 30 yr fix mortgage at 90% of appraised value. Borrowers would have to share 50% of all future appreciation with FHA. The loan limit nationwide is $550,440. Program is effective 10-1-2008
Seller-Funded Assistance- Prohibited by Builders/Developers or anyone who has a financial interest in the sale, however, nonprofits funded by other sources, churches, employers or family members can still offer downpayment assistance.
VA Loan limit- Temporarily increases the VA home loan guarantee loan limits to the same level as the Economic Stimulus limits through December 31, 2008.
Risk-based Pricing: puts a moratorium on FHA using risk-based pricing for one year, from 10-1-2009 to 9-30-2009.
Mortgage Revenue Bond Authority: Authorizes $10 billion in mortgage revenue bonds for refinancing sub-prime mortgages.
Loan Originator Requirements: Strengthens the exsting state-run nationwide mortgage originator licensing and registration system. The purpose is to prevent fraud.
Modification of $250,000/$500,000 exclusion of gain on the sale of a principal residence. Beginning 2009, the exclusion, as it applies to a second home or rental property that is converted to a principal residence will be allocated. When the second home is sold, any gain attributable to use as a principal residence will remain excludable, up to the $250,000 and $500,000 limits.
Source: NAR (Nat'l Association of Realtors) You can find specific information by going to: http://www.govtrack.us/congress/bill.xpd?bill=h110-3221&tab=summary
What this means to you now is this,
1) If you have a sub-prime or adjustable mortgage you should be able to refinance.
2) The FHA and GSE limits have gone up considerable for new loans
3) VA limits have increased
4) Some opportunity for investing in the bonds the U.S. Treasury offers
Let's get out there and buy something today! For those who have been waiting to see what happens and waiting for the elections to be over...there are some real bargains out there, it is a buyer's market in most areas. If you have depending on your investment portfolio to carry you through retirement, you are probably seeing your stocks diminishing and interest income next to nothing. Real Estate right now is a good investment diversification... let's do something.
Call Linda today at 1-800-423-5552.
Here is what the act does:
GSE Reform: new conforming limits for your local areal of loan limits up to the greater of $417,000 or 115% local median home price, capped at $625,000. Austin-Central Texas area limits: $417,000 Effective date 12-31-08.
FHA Reform: permanent FHA loan limits of the greater of $271,050 or 115% of local area median home price, capped at $625,000 and reforms for the manufactured housing program. Downpayment requirements are up to 3.5% (fom 3.0%). Austin-Central Texas area limits:
$271,050 Effective 12-31-08
Homebuyer Tax Credit: A $7,500 tax credit that would be available for qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years, interest free.
Additional Property Tax Deduction: HERA provides a one year benefit that will be available to all homeowners. Under current law, property taxes are deductible only if an individual itemizes his/her deductions on Schedule A. The new provision will permit a deduction of up to $500 ($1,000 on joint return) for all individuals who utilize the standard deduction and do not itemize.
FHA Foreclosure Rescue: Refinance program for homebuyers with sub-prime loans (adjustable) Lenders would write down qualified mortgages to 85% of the current appraised value and qualified borrowers would get a new FHA 30 yr fix mortgage at 90% of appraised value. Borrowers would have to share 50% of all future appreciation with FHA. The loan limit nationwide is $550,440. Program is effective 10-1-2008
Seller-Funded Assistance- Prohibited by Builders/Developers or anyone who has a financial interest in the sale, however, nonprofits funded by other sources, churches, employers or family members can still offer downpayment assistance.
VA Loan limit- Temporarily increases the VA home loan guarantee loan limits to the same level as the Economic Stimulus limits through December 31, 2008.
Risk-based Pricing: puts a moratorium on FHA using risk-based pricing for one year, from 10-1-2009 to 9-30-2009.
Mortgage Revenue Bond Authority: Authorizes $10 billion in mortgage revenue bonds for refinancing sub-prime mortgages.
Loan Originator Requirements: Strengthens the exsting state-run nationwide mortgage originator licensing and registration system. The purpose is to prevent fraud.
Modification of $250,000/$500,000 exclusion of gain on the sale of a principal residence. Beginning 2009, the exclusion, as it applies to a second home or rental property that is converted to a principal residence will be allocated. When the second home is sold, any gain attributable to use as a principal residence will remain excludable, up to the $250,000 and $500,000 limits.
Source: NAR (Nat'l Association of Realtors) You can find specific information by going to: http://www.govtrack.us/congress/bill.xpd?bill=h110-3221&tab=summary
What this means to you now is this,
1) If you have a sub-prime or adjustable mortgage you should be able to refinance.
2) The FHA and GSE limits have gone up considerable for new loans
3) VA limits have increased
4) Some opportunity for investing in the bonds the U.S. Treasury offers
Let's get out there and buy something today! For those who have been waiting to see what happens and waiting for the elections to be over...there are some real bargains out there, it is a buyer's market in most areas. If you have depending on your investment portfolio to carry you through retirement, you are probably seeing your stocks diminishing and interest income next to nothing. Real Estate right now is a good investment diversification... let's do something.
Call Linda today at 1-800-423-5552.
Monday, August 18, 2008
Oh, the things I think I think!
What a year in real estate! Since September 2007 it has been an interesting ride. For the Mom's and Pop's in our country it has been fearful...fear of relocation, fear of what the current trend has done to your most valuable asset, your home, fear of what the property taxing authorities will do to your taxes, fear of buying a new home, fear of what is happening to your savings and retirement accounts, fear of investing and so on.
The news media would have us believe there is nothing we can do...and the sky is falling! Go hide!
Well, a year later, the sky hasn't fallen, the real estate market has grown and as has been reported, that of the 120 million homes in the U.S., over 33% of them are completely paid for and have no mortgage. I think that 40 million of the remaining 80 million homes in the U.S. were bought before the year 2000, meaning that even in a ''fire sale" the equity in those homes is at least 30%. In fact, 94% of all the mortgages in existence today are not behind at all! Of the 120 million homes in the entire U.S. today, only 4 million are "at risk" with less than 2% of all homes actually in foreclosure!
What does that say to us? Can we use common sense or are we all going to follow the crowds of naysayer's and believe the hype that continues to keep us in fear?
Franklin D. Roosevelt said, "Only Thing We Have to Fear Is Fear Itself"! So is it "fear" we fear or the perception we should be afraid because everyone else is or is the fear impressed upon us real?
Of course, hind-sight is 20/20 and the future is unforseen. If history is a true indicator of the future, we have nothing to fear. We can roll up our sleeves, go back to work and move forward.
The news media would have us believe there is nothing we can do...and the sky is falling! Go hide!
Well, a year later, the sky hasn't fallen, the real estate market has grown and as has been reported, that of the 120 million homes in the U.S., over 33% of them are completely paid for and have no mortgage. I think that 40 million of the remaining 80 million homes in the U.S. were bought before the year 2000, meaning that even in a ''fire sale" the equity in those homes is at least 30%. In fact, 94% of all the mortgages in existence today are not behind at all! Of the 120 million homes in the entire U.S. today, only 4 million are "at risk" with less than 2% of all homes actually in foreclosure!
What does that say to us? Can we use common sense or are we all going to follow the crowds of naysayer's and believe the hype that continues to keep us in fear?
Franklin D. Roosevelt said, "Only Thing We Have to Fear Is Fear Itself"! So is it "fear" we fear or the perception we should be afraid because everyone else is or is the fear impressed upon us real?
Of course, hind-sight is 20/20 and the future is unforseen. If history is a true indicator of the future, we have nothing to fear. We can roll up our sleeves, go back to work and move forward.
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