1908 Glencliff Drive 78704

Lately, I have been spending my time in Central Austin specifically Barton Hills and other areas within the 78704 zip code.  Conditions have varied with some needing a little love, like maybe new paint colors, while others need some major updating.

Homes in need of remodeling can be found in all price points. When you are purchasing a home that is considered ‘dated’, it is best to know what your intended use is for it. For example, if you are looking to just lease the house out, freshening up the paint and re-carpeting may be all you need to do to make it ready for a tenant. If your plans are live in the house, understand that many of the upgrades you will add are for you. They may depreciate over time and not all buyers will appreciate what you have done. When the plan is to remodel a home to flip it, budget is key. Sticking to a budget which should include a miscellaneous fund for unexpected work will keep you from buying yourself right out of the neighborhood.

Here are some houses I have seen in the past week. Doreen’s picks of the week Again, how much work they need, if any, will depend on the buyer’s intended use.

1908 Glencliff (see link above) was designed by James D. Pfluger. It is a work of art with great bones and over an acre of land on the cliff of the Barton Creek Greenbelt, about 200′ upstream from Camel’s Hole. It has privacy and a view, but the view could be better if someone cleaned up the brush and trees and perhaps redesigned the overhang on the back decks. The house has tons of possibilities. Many of the surrounding homes have been completely rebuilt and updated.

One note about investment properties. Leases are on the rise, because properties for lease are in short supply. There are many people who cannot qualify for a loan these days, so they need to lease. There are some people of course that prefer to lease, but with the addition of people that now do not have a choice – the demand is very high. So, if you are thinking about purchasing an investment property – now may be the time. Remember, investment properties also come in all price points. They require 20% down and rates right now hovering around 5% and under.

Rules and by-laws are defined and outlined for each home owners association and can include anything from buildings restrictions, pet limitations and quiet hours. H.O.A.s impose fee’s to manage common charges and services impacted by the community. Mandatory home owners associations are typically created at the time the subdivision is created whether it is a neighborhood of houses or a condominium community.

H.O.A.s are a legal and financial entity designed to fund and manage common services and areas. Gated entrances, pools, fitness centers and playgrounds are all examples of common areas. Common services can include water, cable, trash and even gas. What services are included typically depends on how the subdivision was initially designed. Home owners associations can be powerful; they will impose fines and can even place liens on a property if fees are not paid or rules are not complied with.

Home owners associations often manage community activities as well, which provides an environment to socialize with neighbors within the community.

Austin HOA Rules and Restrictions

Whether or not a home owners association will work for a buyer will depend on many factors. If you are looking to build and want the freedom to choose any material you want or size of home, a neighborhood with a home owners association may not work for you. Having horses or parking an RV or boat next to a house – may not be allowed. You may be limited to the kinds of fences you can have. Dog breeds that are typically labeled as ‘aggressive’ are often not allowed as well.

Some people like limitations and rules within a community. Members of an association often like the structure within the community and welcome the limitations. Some people like a common aesthetic theme limited building materials bring. They also like the sense of community and small town feeling common amenities often provide.

Home owners associations can include many amenities, rules and by-laws or very few. H.O.A.s vary greatly in terms of when fees are due. Some are monthly; others are quarterly or even paid annually. Frequency is often determined by the size and scope of the association.

Unless I have a buyer who truly doesn’t like the idea of a home owners association, I often suggest clients be open to the idea. You can often tell just by driving through a neighborhood if it is heavily restricted or looks fairly laid back. With so many of them in the greater Austin area, it is hard for prospective buyer to completely rule them out.

Austin, like all of Texas, is experiencing severe drought conditions. Record breaking heat and water conservation has caused some shifts in routine for all of us. For me, that means trying to get out early to look at houses whether I am with clients or previewing. I showed land in Smithville last Monday, which is just west of Bastrop. My clients and I started at 10:30, spending about a good 20 minutes at the first lot. As the day heated up, we started to select what lots we actually wanted to get out of the car for. We saw 14 lots in 2 hours.   Heat can be motivating!

 
Shifts in routine also include remembering to water plants after sunset and being mindful of our foundations. Dirt is like a sponge, when it dries out — it condenses. That dirt under your house is condensing too. Cement doesn’t bend, it cracks.  Having a drip system around your house is helpful. A hose with holes placed around your house can help water your plants and your foundation at the same time.

When we live for awhile in the same space, we often become blind, deaf and well, sometimes even dumb. How many times have you walked around that overgrown bush that has taken over your walkway, instead of just trimming it back? How often do you look at the weeds in your planting beds and try to convince yourself they are wild flowers? We all do it to varying degrees, so here are some reminders of things that need tending to when you are going to sell your home — clean the gutters, weed and mulch planting beds, cut back bushes, paint or power wash if the house looks dirty.

Sellers worry about the foyer in the entry, because in their minds it is the first thing a buyer will see. The truth is that the first thing a buyer sees is the front lawn.

Sometimes we remodel because we want to and other times it is because we have to. Foundation repair may require drilling through those hardwood floors, dishwashers leak or at some point we decide to replace the carpet in bedrooms with wood. It’s important to note that flooring whether  wood, tile or even carpet goes in and out of style these days just like clothing. Matching up flooring becomes a nearly impossible task, so plan ahead. Buy extra tile and wood flooring, so if disaster strikes, you have some backup. My clients picked a home last year, purely because it was original. From the bathroom sink to the tile floors, it was mid-century modern throughout and it was being sold by the owners who built it. The house failed the static test which required the plumbers to go in through the 1965 tile flooring in order to fix the leak. It was so wonderful that the owners had planned ahead and had two extra boxes of the original tile, which really saved the aesthetic of the house. So, when you think about flooring, think ahead it may save you some grief and money in the future.

When looking at houses keep fences in mind, so you can research what you would like to do in the future, before you purchase.

Drumroll please………………………..

Glade Vanilla Scented Plug-Ins

The Vanilla and Lilac scent is ok too.  They give a nice warm undertone to a home.  Seller’s have a tendency to make a home smell too fragrant.  Buyers just want a home to smell clean, floral scents are often over powering.

Dyson Vacuum Cleaners

I am not going to get model specific, because I don’t think it matters.  I have pets and have a tendency to kill my vacuum cleaner every 2 – 3 years.  The Dyson picks up pet hair others leave behind.  It is great for picking up after the kids as well.

Candles

Candles are a great staging tool, because they work in every room of your home.  Try putting 3 together on a shelf, a dresser or centerpiece on a table.  They give a home a warm feeling even when they are not lit.

Area Rugs

Buy a couple to help divide a large room up, and give smaller areas more definition.

Shoe Boxes

How many of you have a closet with empty show boxes?  Shoe boxes are a great way to store items you don’t necessarily want potential buyers to see when viewing your home.

Bamboo

Bamboo lives a long time, just in water.  It’s a great plant to add to a room even if you don’t have a green thumb.  Try putting 3 stalks together in a clear vase with pebbles or glass beads.

Duvet Covers

Let’s face it, comforters can be pricey.  Duvet covers are a great way to use the same comforter when you change the décor of a room.  Or, if you need a new comforter you can save money and buy any pattern you want, because no one will see it with a duvet.

Kaboom

I use Kaboom on everything including my carpet.  I advise you test an area before trying this.

Books

Books are another great staging tool that works in every room of a home.

IKEA

IKEA is a great store if you are looking to re-do a room, add extra storage or if you simply want to finish a room with items like bookshelves.

I have been trying to preview as many properties as possible in the morning, while everyone is still busy at work.  Pictures can be deceiving for better or worse, and typically don’t show things like pantries, closets and sometimes even backyards.  Previewing properties without clients helps us rule out some things not worth seeing in the heat of the day, which happens to be when you get out of the office.  It allows us to focus on true possibilities in less time, which works out well especially with children in tow.  Children generally love looking at houses, but when they are getting in and out of their car seats in the heat, they loose interest pretty quickly which makes it a trying time for all.

Someone is watching your pets, but who is watching your house?

I have seen some houses where the owners have been away on vacation.  It is important to keep in mind when selling your home that plants need to be watered, garbage should be removed, and pools need to be tended to.  I had a reader last week whose pool turned an unappealing shade of dark green while they were away.  Just like keeping the house clean, pools need to be kept clean as well.  Buyers don’t know that people may be away, they just think there may be a problem or the pool is not being maintained.

For Buyers, the more commonly asked question is how much money they need to buy a house.  Unfortunately, there are too many variables that make question easy to answer. A credit score, downpayment and loan program are going to be the determining factors for this.  Those factors, are not only going to determine what your costs, but they are also going to decide your buying power as well.  

A 1% variation in an interest rate can mean a 10% change in your buying power.  The debt to income ratio will also determine your buying power.  Having a great credit score means that you show a history of paying back loans, and therefore you are less of a risk to a bank of defaulting on a loan.  If you are going to buy a house or planning on moving up, your income has to reflect that you can afford to handle more debt.  If a lender thinks you are just making it, with your current debt – you are not going to get approved for more.

What I generally tell Buyers, is to plan on at least 2 percent of the sales price, not including your down payment.  Lenders escrow 3-8 months for taxes up front, which are typically the biggest portion of  closing costs. You will also need 1% of the sales price in earnest money at the time we go under contract.  In addition, you will need an inspection and title fees.  So, the short answer is 2% of the sales price, but that does not include lender fees, which, depending on your loan program, could mean another 2%.

My top 2 goals as a listing agent, are to sell your home in the shortest amount of time, for the most money possible.  When I’m listing a home, I don’t really care how many homes are on the market.  I just want my listing to shine, so it’s the next one to sell.

Now, I’m not telling you to install $30,000 in granite.  All I am saying is make that Formica the best it can be!

It’s a simple question that can be answered in a variety of ways; from long explanations to one equally simple word “nothing”.  The same holds true in real estate.  When I am on a listing appointment, I have the Seller take me on a tour of the home.  In every room, I ask ‘what’s new?’ or ‘what’s have you done, since your purchase’.  Did you paint, install new fixtures, whatever it is – I want to know.   

Understand, improvements that a Seller has made, will often be translated in a Buyer’s mind, as improvements that won’t need to be done for a while.  When a Buyer walks through a house or sees a list of new things, the Buyer internally says “great new water heater, so I won’t have to worry about that for a while.”  Even the little things that are done to a house can really add up and bring value to a Buyer.  The perception is that the house has been maintained, as needed, all throughout the Seller’s time owning it. 

As a Listing Agent, I always print a list of improvements to leave for potential Buyer’s Agents and Buyers.  I even go the extra step and post it on-line.  It instantly answers the question ‘what’s new’, so buyers can enjoy their visit, without wondering what has been done.