Our team has just put on the market a very nice 5 acre lot in the highly sought after Sundance Ranch in Liberty Hill, TX!  This is a great hill country Lot, one of a very few lots available in Sundance Ranch.  It has a level building site, is partially fenced, has really nice tree coverage, and has a lot of clearing already complete.  Horses are allowed, and kids will enjoy the highly acclaimed Liberty Hill schools.  This is quiet country living at its finest...won't last long!  Check out more info and pictures here:  http://shanetwhiteteam.com/inc/pmisc?pid=496

Check out his new listing our team just put on the market.  This home for sale in Liberty Hill, TX sits on over 11 acres.  This home features 5,178 square feet with 4 bedrooms, 4 baths, high ceilings, high-tech wiring with security/cameras/surround sound etc. Hard surface flooring throughout, 2 master suites, loft can serve as gameroom/workout room, Upstairs master bedroom features a very cool custom shower with multiple jets/stereo/phone, there is a 20x30 metal workshop, paved driveway, electric gated entrance, no restrictions, all in the highly acclaimed Liberty Hill schools!  You don't want to miss this, especially at this price: $499,000!!  Check out more at   

http://shanetwhiteteam.com/inc/pmisc?pid=497

I wanted to announce an event that is coming up on September 6th...our church is hosting the 1st Fellowship Fest!!  This will be hosted at Fellowship Baptist Church in Liberty Hill, TX and will begin Saturday morning with a 5K run and 1K family run.  Then from 4-9pm that afternoon, Fellowship Fest will be in full swing...there will be 4-5 live bands performing, tons of games/moonwalks/kids activities/etc., food booths throughout, and other booths set up.  It will be an absolute BLAST...something you won't want to miss.  And if you want to hear me sing, I will be performing with our Praise Band sometime that afternoon...

You can get more information and also get info on the 5K run at www.fellowshiplh.org

Hope to see you there.

I was just sent an email with an article from the Austin Business Journal that has some positive news about the market here in Austin and Central Texas.  Basically we are doing much better than most of the rest of the country and are expected to recover sooner as well.  I hope you enjoy the information!!

Economist: Austin will recover faster than the rest of the U.S.

Austin Business Journal - by Jean Kwon ABJ Staff

In the coming year Austin will outperform the rest of the country in job growth and in the health of its housing market, according to Mark Dotzour, chief economist at Texas A&M University's Real Estate Center.

Austin will add 8,500 new jobs between now and August 2009, despite a negative job growth across the country, he says. The local housing market will turn around faster than the rest of the country by next summer, Dotzour predicts.

In the meantime there will be a marked drop in new construction next year as a result of tightened debt and equity markets, Dotzour says. Still, the credit crunch is starting to thaw, and the pressure on national banks is beginning to move to regional banks including those in Texas. Those banks are tightening the terms on outstanding loans and demanding additional collateral or partial paydowns based on reappraisals. Loans for single family developments will bottom out between now and next summer and some builders will leave the market involuntarily, says Dotzour. By next fall he predicts a turnaround in the market and a renewed uptick in homebuilding.

The local demand for apartments is at an all-time low, says Dotzour. There will be demand for about 2,500 units next year, a fraction of the 9,000 to 11,000 units that will come online. He anticipates occupancy will be 90.4 percent and rents will fall to an average of 94 cents-a-foot.

The office market will see very little new construction in 2009 and 2010 as a result of the recent credit crunch. But that means when the economy picks up in mid-2009 the region will see the next wave of rent growth, says Dotzour.

About 350,000 square feet of office space is likely to be absorbed next year, and 700,000 square feet will come online. Occupancy will be 84.7 percent.

Industrial development is seeing the biggest wave of construction in the history of Austin despite a 25 percent increase in construction costs last year, says Dotzour. He predicts ownership will begin to change hands as rents stagnate.

Dotzour predicts 250,000 square feet of flex/R&D space will be absorbed and that 400,000 square feet will be completed next year. The warehouse and distribution market will see 2 million square feet come online, and 376,000 square feet of that will be absorbed. Occupancy rate will be 82.4 percent and rents will be down 7 percent.

Local downtown retailers like REI, Whole Foods and Anthropologie have fared well but retailers will likely struggle in the coming year. Investor demand in retail is low and institutional investors have broken off deals as a result of being over-allocated in real estate, says Dotzour. The International Council of Shopping Centers predicts store closings in 2008 could reach 5,770 nationwide, the highest number since 2004. Unless gasoline prices return to under $3 a gallon, discretionary consumer spending will languish, Dotzour says.

If demand slows for local commercial real estate there could be a decline in construction material costs in the coming months, he adds.

"If this hypothesis doesn't hold water, and oil is still 125 bucks a barrel and steel costs what it does now, then we're in an entirely new era for living in the U.S. where things cost a whole lot more than they used to," says Dotzour.

I wanted to pass along some exciting news if you are in the market for a new home!!  Drennan Day Custom Homes is celebrating the opening of their first Model Home in Cierra Vista with some great incentives for buyers.  For a limited time, buyers can use a $5,000 incentive when purchasing any of the spec homes that is offered for sale.  The money can be used to reduce the price, pay closing costs, or add upgrades!!  Drennan Day currently has 4 spec homes availalbe...2 are ready now and 2 will be available in November...so you still have time to pick colors and selections.  For more information about Cierra Vista in Liberty Hill and to see the many plans that can be built there, visit www.cierravista.com or come see the model...it is beautiful!!!

Check out this home for sale in the highly sought after Sundance Ranch in Liberty Hill.  This home sits on over 4 acres with great views from the balconies!!  This home features beautiful stained concrete floors, custom pine cabinets and granite countertops, romantic gas log fireplace, dedicated media room with projector and screen, balconies on front and back of home, speakers throughout house with volume controls, jetted tub and separate shower, walk-in closets, 4 car garage, and more...Horses are also welcomed, all this in the highly acclaimed Liberty Hill Schools!  More info and pics can be seen here: http://shanetwhiteteam.com/inc/pmisc?pid=491

Drennan Day Custom Homes has done it again...for only $245,000, you can live in a brand new custom home on 1 acre in the new subdivision of Cierra Springs!!!  This home is still under construction, so the buyer can pick out many color selections still... This home has an open floor-plan with many custom features including high ceilings, fireplace, custom cabinets and trimwork, granite countertops, tons of tile flooring throughout, separate shower and jacuzzi tub, covered front and back porches, separate office, and more. You will also enjoy beautiful hill country views from the front porch...all in the highly acclaimed Liberty Hill schools!  You can see more of this house here:     http://shanetwhiteteam.com/inc/pmisc?pid=486

We just listed another beautiful new home built by Drennan Day Custom Homes.  This home for sale is located in Cierra Vista subdivision right in the heart of Liberty Hill.  This is a popular floorplan that is open with high ceilings, custom features include extensive tile flooring, granite countertops with custom cabinets, romantic fireplace in the greatroom, jetted tub and separate shower, large walk-in closet, separate office/study, large kitchen with island, huge covered back porch, all on 1 acre in the highly acclaimed Liberty Hill School District.  And it is only $ $270,000!!!  Check it out here: http://shanetwhiteteam.com/inc/pmisc?pid=487

This information has been out a couple of weeks, but I still felt the need to pass it along...it is a great opportunity for first time homebuyers to get into a home this year!!  The act basically give first time homebuyers up to a $7500 tax credit for buying a house (must be their first house in the last 3 years).

The tax credit is 10% of the cost of the home, up to a maximum of $7,500.  So, if the home costs $65,000, your tax credit is $6,500.  If the home cost $100,000, you would get a credit of $7,500.  This is not an additional deduction that lowers the amount of income to be taxed, it is a tax credit.  In other words, you take $7,500 off your tax bill.  What if your tax bill is only $5,000?  The IRS will send you the additional $2,500 as a refund.  When was the last time the IRS sent you a refund because you bought something?

The loan has no interest, and will be paid back over 15 years.  You get the credit on your 2008 taxes, but you start paying it back on your 2010 taxes that are due in 2011, so you get at least two years without a payment.  You pay back 6.67% of the credit each year, so for a $7,500 credit the payment is $502.50 per year.  If you stay put for 15 years, you pay it off with no interest.

What happens if you sell the house?  You pay the balance back at the closing.  So, you get $7,500 now, and pay the rest of it back if you make money on the sale of your house.

What happens if you do not make enough money when you sell your house?  They forgive the rest of the debt.  In other words, get $7,500 now and pay back nothing if your house only breaks even, or loses money, at closing.  When was the last time you got a loan on a speculative venture where the person who gave you the loan forgave the rest of the loan if you did not make enough profit on the sale? 

There are restrictions on the amount of income that you can make and still get the credit.  But the restriction is $75,000 per year for a single person and $150,000 for a couple filing jointly, so the vast majority of people qualify.   If you make more than that, you can still get some of the tax credit, but there are complicated rules about phasing out the credit as the income goes up.  If you make that much money, you can afford to hire someone to figure out the formula.

Basically, it is a great opportunity for first time buyers to buy and get an interest free loan!!  You should let everyone know about this opportunity, and if you know of someone who would benefit from this program, we can help them buy.  Or if you know of someone anywhere in the country, we can help them find a great agent who can help them buy!!  So pass along the information...

I wanted to pass along the latest listing our team just put on the market.  It is a custom home in Cierra Vista in Liberty Hill, TX and has upgraded features throughout.  This is a must see property if you are looking for quality custom finish out on a 1 acre lot!!  Check it out here:

http://shanetwhiteteam.com/inc/pmisc?pid=483

We have just listed a beautiful home in Stonewall Ranch subdivision in Liberty Hill, TX.  The house has an open floor-plan, upgraded light fixtures, decorator colors, custom center island in kitchen, it was built in 2007 so it has low maintenance, close to elementary school, community playground and swimming pool, just minutes from 183A and Parmer Lane so easy commute to Austin, AND this is priced to sell!  Check it out at http://shanetwhiteteam.com/inc/pmisc?pid=481

We just listed a hot buy in Liberty Hill, TX.  This manufactured home has new carpet and will have new skirting, and sits on a beautiful tree covered lot that is over 3 acres in size.  There may possibly be an extra septic and electricity on the property as well!  BUT this one is priced to sell...take a look at  http://shanetwhiteteam.com/inc/pmisc?pid=479

I just ran across an article talking about a new product line of homes that will be offered in the luxury community of Cimarron Hills located between Georgetown and Liberty Hill TX.  They will have opportunities for people to live in the high end neighborhood for under $500K!!!  Enjoy the article!!

 

Cimarron Hills

When developer Garth Chambers originally envisioned Cimarron Hills, a nontraditional, 19-hole Jack Nicklaus Signature Golf Course and community, the concept was unique to the area because there was no comparable luxury housing nearby. Even today the community and golf course remain an upper echelon development in the area, according to Howard Kirk, a local general contractor who has built several homes in Cimarron Hills.

However, with the tech market crash hitting in 2001, Chambers went bankrupt after pouring substantial resources into Cimarron Hills. The grand plans of a five-star golf community rooted around a luxurious golf course started to falter, and Cimarron Hills became a sore spot for many in Georgetown, Kirk said.

“That’s what really got Garth: The up-front cost to put the course in was unbelievable, and the main clientele disappeared for a while,” Kirk said. “There’s no question — it’s the nicest club north of the river, probably one of the better ones in Central Texas.”

Plans went unfulfilled for years until Phoenix-based Pivotal LLC bought the community in 2004 and made the decision to complete all the community amenities shortly after its purchase.

Previously, most homes were valued in the millions at Cimarron Hills, but the new Golf Villa line will start in the mid-$400,000s. Semi-custom homes will begin around $500,000 and will be built in two phases, a Masters and a Champions series.

“All successful communities have a diversified product. We were hurt in the past only being custom homes,” said Chris Baker, Cimarron Hills sales executive. Pivotal decided to start Cimarron Homes building division, which will construct the Golf Villas and semi-custom homes. Cimarron Hills is taking reservations on the Golf Villa homes and is only building on 20 lots, with construction scheduled to begin in September. The reservation allows people to pick the lot they want and the type of home they want to build. Construction on the Masters series homes is planned to begin by the end of the year.

The new development began with the recently completed 45,000 sq. ft. clubhouse, which includes a full-service spa, multiple dining rooms, terrace room, banquet hall, and men’s and women’s locker rooms. The old clubhouse building was gutted and turned into a workout facility, and the hike and bike trails were finished throughout the community.

Access to the community increased with the recent opening of Ronald Reagan Boulevard north to Williams Drive.

There is more positive news regarding the real estate industry and the efforts to help it recover.  H.R. 3221, the Housing and Economic Recovery Act of 2008---which was passed by the Congress on July 26 and then signed by President Bush---allows first-time home buyers to take a $7,500 tax credit from the purchase of a single-family home, townhome or condominium.  This is great news for home buyers, but also great news for home sellers as this will excite and generate more buying! 

Everyone must still remember that real estate is local, and the Liberty Hill, Georgetown, Leander, and Bertram TX markets are still holding steady!!  So stay away from all the negative press and look for the positive things going on around our area...