in this issue…
Putting a Face on Real Estate since 1995™
• ABoR TREPAC Movie Night • Mega Agent Secrets with Don Hobbs and Mark Hairston • Deerbrooke Grand Opening • JB Goodwin REALTORS Co. Picnic • & Much, Much More!
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JULY 2018 • VOLUME 23 • ISSUE 3
MARK
HAIRSTON
Are housing affordability problems here to stay? O By Ricki Markowitz
Visit us online 24/7 at www.myRealtyLine.com
P. O. Box 81366, Austin, Texas 78708
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ne of the most consistent refrains used over the past decade or so to describe the real estate climate in Austin is “robust.” Headlines in 2018 alone praised the market for “shattering records,” declaring it “the hottest housing market ever,” and the city is “on pace for another record year.” On the flipside of these
headlines, however, there’s a darker story. For at least five years, housing affordability in Austin has gone from bad to downright grim. So much so, think tanks have coined a term for when certain economic classes are priced out of cities and flee to the suburbs. It’s known as the suburbanization of poverty, and it’s a big jump from 1950s urban sprawl when the middle class fled to suburbs seeking serene surroundings and room to roam. Less then a century later, U.S. suburbs are home to more poor people than cities. In 2016, the Statesman reported that in census tracts surrounding Austin, the concentration of poor residents living in high-poverty has increased faster than neighborhoods in the country’s top 100 metro areas. Out of 41 suburban neighborhoods surrounding Austin, 18 had poverty levels between 20 and 40 percent, and nearly all posted increased poverty levels since 2000. Also in the Austin metro, between 2000 and 2015, the high-poverty population growth in high-density suburban neighborhoods nearly doubled, according to research from Harvard. City leaders, including Mayor Steve Adler, have compared Austin’s future to metros that are ground zero when it comes to the housing affordability crisis—places like Los Angeles,
Featured Event July 25th, 10 a.m. - 3 p.m. Austin Board of REALTORS: Keeping Austin Real Estate Global
Seattle and San Francisco, “A wonderful, incredibly expensive city with a median home price over $1 million, where only the wealthy and the subsidized can afford to live.” Updating and passing a new development code is a great way to address housing issues here in Central Texas, but experts say Austin may already resemble those west coast cities more than we’re ready to admit. How so? Cedar Park, Pflugerville and Georgetown, plus other close neighbors, are also in a sprint to provide economically diverse housing options to accommodate their own population growth, many of whom will come from Austin. So if Austin has been experiencing explosive growth, businesses are happily relocating here, it’s a top 10 location for startups, and
even more people are choosing to buy homes in surrounding suburbs just to be close to Austin, what’s the problem? We only need to look at other urban-sprawl stories to see where this leads. Cities riding Austin’s coattails today will be experiencing their own housing affordability crisis down the road, if they’re not already dealing with it. As we speak, city leaders, as well as concerned citizens, are placing much of the blame for our housing problems on the land development code that hasn’t been updated in four decades. Austin’s City Council is reviewing the final draft now and those responsible for updating and approving CodeNext are hop-
Front Page: Continued on page 28
Features of the Month Column: ABoR—Change is coming!. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .pg. 3 Column: WCREALTORS—Housing Affordability: An issue going forward?. . . . . . . . . . .pg. 7 Column: HBA—2018 Parade of Homes at Travisso is coming this Fall. . . . . . . . . . . . pg. 15 Column: Women's Council—Is there such a thing as an affordable house in Central TX?. pg. 20 Expert Commentary: Value-Adds...Are they worth it?. . . . . . . . . . . . . . . . . . . . . pg. 22 Associates in Progress: Toll Brothers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . pg. 25 Associates in Progress: Santa Rita Ranch. . . . . . . . . . . . . . . . . . . . . . . . . . . . pg. 27 Column: RRC—Times have changed and so have housing prices!. . . . . . . . . . . . . . . pg. 30 Upcoming Events. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . pg. 33
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July 2018 www.myRealtyLine.com
CATCH THE BIGGEST WAVE THIS SUMMER Reach out to us today before the current subsides. Stewart Title of Austin Recruiting
careers@stewart.com stewart.com/austin
© 2018 Stewart. All rights reserved.
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Putting a Face on Real Estate since 1995
Putting a Face on Real Estate since 1995.™
The positive energy that radiates from our employees is contagious. As our momentum builds, we’re seeking candidates pursuing escrow officer and escrow assistant positions to help further support our growth and expansion in Central Texas. It’s high tide: submit your resume to us today at careers@stewart.com.
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Austin Board of REALTORS®
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Putting a Face on Real Estate since 1995
President’s Column By Steve Crorey • 2018 President
www.myRealtyLine.com On a last note, as of Wednesday, August 1, Coming Soon (CS) Status will no longer be a listing input option in the ABoR MLS. To minimize disruption for listing agents, any CS listings entered before August 1 will remain in CS status until they are updated to Active (A), or until the 14-day CS period passes and they are automatically put into Temporarily Off Market (T) status. ABoR members, please visit ABoR.com/ComingSoon for more infor-
H
University • Lunchtime entertainment by Kyung Ah Oh & Dance Team • Expert Roundtable Discussions, moderated by ABoR Global Committee members Join Texas Association of REALTORS leaders and REALTOR colleagues from Regions 8 and 15 at the 2018 Texas REALTORS 360 Meeting hosted by ABoR. On Friday, July 27, members will have the chance to share ideas and engage with local and state leaders, as well as explore issues impacting agents and brokers in the field. You can register and download the agenda at ABoR.com/360Meeting. It’s hard to believe that Realty Round Up is just a few months away! As the largest real estate trade show in Central Texas, Realty Round Up is an ideal opportunity for those looking to boost business, gain connections, and kick back with fellow industry-goers. There’s only a few weeks left for Early Bird Booth Registrations – purchase a booth at ABoRRoundUp.com by July 31 and save $100 off booth prices! Tickets go on sale August 1!
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mation about this decision and how it will affect the ABoR MLS. As always, you can contact the ABoR Board of Directors at board@abor.com with any comments, questions, or concerns, and don’t forget to follow me on Facebook (@2018ABoRPresident) for need-to-know Association news, calls for action, and monthly President’s Corner videos! RL
EVENTS & EDUCATION:
Change is coming! ave you heard the news? The Austin Board of REALTORS has partnered with Platinum Top 50 for our ABoR Industry Awards…and applications are now open! Apply for a PT50 award by August 31 and your entry will also be considered for a 2018 ABoR Industry Award. For more information on awards categories, eligibility criteria, and submission deadlines, please visit ABoR. com/Awards. To apply, visit PT50Austin.com. To close out the month of July, ABoR is excited to host two exciting member events that you won’t want to miss! In Austin, global real estate isn’t just a rising trend, it’s here to stay. To better equip you to serve international clients, ABoR is excited to host our inaugural Global Day on Wednesday, July 25. You'll hear global real estate experts share valuable insights on how the rest of the world affects Central Texas real estate (and vice versa)! Festivities include: • Global Forum 2018, featuring a panel moderated by Dr. Luis Torres from the Real Estate Center at Texas A&M
July 2018
MORE AT ABOR.COM
Events July 25: ABoR Global Day 2018 – ABoR HQ July 27: Texas REALTORS® 360 Meeting – ABoR HQ Aug. 1: Board of Directors Meeting – ABoR HQ
Education July 23: TREC Legal Update II – ABoR North in Cedar Park (TREC #33198) July 24: TREC Legal Update I – ABoR South (TREC #33197) July 24: TREC Legal Update II – ABoR South (TREC #33198) July 25: Professional Standards for REALTORS® – ABoR South (TREC #32004) July 25: 10 Common Issues Found in Home Inspection – ABoR South (TREC #32966) July 25: Agent Responsibility – ABoR HQ (TREC #32873) July 26: Accredited Buyer’s Representative – ABoR HQ (TREC #33068) July 30: REALTOR® Code of Ethics: Your Promise of Professionalism (TREC #32692) Aug. 1: Professional Standards for REALTORS® – ABoR HQ (TREC #32004) Aug. 1: The Business Case for High Performing Buildings – ABoR HQ (TREC #34532) Aug. 6: Real Estate Marketing (SAE) – ABoR HQ (TREC #551) Aug. 8: Agent Investor 101 – ABoR South (TREC #32871)
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July 2018 www.myRealtyLine.com
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Putting a Face on Real Estate since 1995
Putting a Face on Real Estate since 1995.™
Here for the "Mega Agent Secrets for Dominating Your Market," Tara and Randy Griffin of Jeff Scott Realty sit close at the seminar with real estate legend Don Hobbs hosted by Mark Hairston of Caliber Home Loans at the J.J. Pickle Research Center. Download Photo: RL_070118_A.jpg for FREE at www.myrealtyline.com
Just a stone's throw from Leander ISD's new Glenn High School, Lance Arnaud of RE/ MAX Capital City, Mary Fisher and Terri Salyer, both of Central Metro Realty, and Joel Peal of RE/MAX Capital City are excited to know they have four model homes to show clients in Deerbrooke, including one from Monticello Homes. Download Photo: RL_070418_B.jpg for FREE at www.myrealtyline.com
North American Title hosts a self-defense class where Christina Isaac makes an attempt to show off her self-defense skills. A little perplexed, William Pitmon of LRP Special Applications and Consulting Group LLC explains to her and the class that he has more effective strategies that work. Pictured behind them is Suzy Ortega of Lakeway Elite Fitness.
Download Photo: RL_071218_H.jpg for FREE at www.myrealtyline.com
Keller Williams Realty's Joe Williams gets a little feisty with Mr. T-Rex at the Austin Board of REALTORS" TREPAC Movie Night.
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GET A PEAK AT OUR NEW DIGS & MEET THE NEW WESTLAKE OFFICE ESCROW TEAM Experience Our Dedicated Training Room!
AUSTIN
NEW WESTLAKE OFFICE 4301 Westbank Drive Building “A” Ste. 100 Austin, TX 78746
512.691.7668 www.chicagotitleaustin.com
Susan Outon
Brandi Hale
AVP / Branch Manager Escrow Officer VP / Sr. Escrow Officer
Jennifer Pospisil
VP / Sr. Escrow Officer
Camille Woods
Ashleigh Dixon
Katharyn Azzarello
Melissa Woods
Escrow Officer Escrow Assistant Escrow Assistant Escrow Assistant
Michelle Vannostran
Business Development
CLOSE SMARTER. CLOSE WITH CONFIDENCE. 9 LOCATIONS TO SERVE YOU • PROTECTING YOUR HOME & COMMERCIAL REAL ESTATE INVESTMENTS SINCE 1847
Putting a Face on Real Estate since 1995.â„¢
179619_0608 AustinReloGuide.indd 1
RL austin
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Putting a Face on Real Estate since 1995
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July 2018
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July 2018 www.myRealtyLine.com
RL austin
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Putting a Face on Real Estate since 1995
Putting a Face on Real Estate since 1995.™
Kelly Friedman of Keller Williams Realty is the lucky winner of Realty Line's "Coolest Giveaway." You could be next! Like the Realty Line Facebook page by September 25 for your chance to win an Ecobee4 Smart Thermostat with Alexa.
Download Photo: RL_070518_A.jpg for FREE at www.myrealtyline.com
Mark Hairston, standing, of Caliber Home Loans, welcomes Tom Catlin and Kirby Smith, both of Keller Williams Realty, to learn the six must have marketing tools at the Don Hobbs "Mega Agent Secrets for Dominating Your Market" seminar hosted by Mark at the J.J. Pickle Research Center.
Download Photo: RL_071518_K.jpg for FREE at www.myrealtyline.com Download Photo: RL_070118_C.jpg for FREE at www.myrealtyline.com
Bertina Schreiber of Moreland Properties finds a unique way to sample perfume strips at the REALTOR Advisory Board event at the Drees Custom Homes model in Rough Hollow. They said sniff!
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Putting a Face on Real Estate since 1995.™
austin
Williamson County Assoc. of REALTORS®
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Putting a Face on Real Estate since 1995
President’s Column By Victoria Reviel • 2018 President
Housing affordability: an issue going forward?
C
entral Texas and especially Williamson County is an ever-growing and popular place to live yet may low income home buyers are having a harder time finding a suitable place to call home. According to new joint research from the National Association of REALTORS and realtor.com, housing affordability is down from a year ago, and fewer households have the income necessary to purchase from among the inventory of homes currently available in their communities. Based on this study, a REALTORS Affordability Distribution Curve & Score has been released. The Austin-Round Rock MSA has an Affordability Score of .66. According to NAR, “a score of one or higher generally suggests a market which is affordable while a score smaller than one is an indicator of a relatively less affordable market.” The affordability score for the state of Texas is .70. The curve demonstrates how obtainable a home is based on the income level. The curve shows that a family making $50,000 a year can
only afford 2.1 percent of the homes on the market, whereas a family making $100,000 a year can afford 44.5 percent of the homes on the market. According to the U.S. Census Department, the median household income in Williamson County for 2016 was $75,935; and the median income for the MSA is roughly $71,000 The good news is that the Austin MSA unemployment rate is at an all-time low of 2.9 percent. Texas has added the most jobs of any state, at 352,100 in 2018 and new apartment communities are being built as quickly as possible to give these potential homeowners or tenants more housing options. There are so many other budgetary pressures, and the more you spend on housing, the less you can spend in other areas that impact you or your family’s ability to succeed. As REALTORs, we must always have a buyer or tenant consultation to discuss what the options are for buyers or renters. The Governmental Affairs & Affordability Sub-Committee of WCREALTORS have held
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July 2018
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affordability forums and are active within the community to keep ahead of affordability issues within the county. Keep an eye out in the fall for our next affordability forum featuring guest speakers. While Central Texas developers can strive to build better, faster, smaller and more economically, the results may not close the affordability gap or create enough of the type of housing most needed for low income earners. RL
Event & Education Schedule
Register at www.wcaor.org
July
August
23
Service & Emotional Support Animals
9
Farming with Realist
23
zipForm Plus III
17
Legal I Update
24
RPR Realtors Property Resource
17
Intro to Matrix
26
Broker Breakfast: Agent Retention
30
Make Open House a Hit
31
Advanced Matrix CTXMLS
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July 2018 www.myRealtyLine.com
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Putting a Face on Real Estate since 1995
Putting a Face on Real Estate since 1995.™
Jame' Swackhamer of Capital Title gets a tour of the new Magnolia Realty office from Jessica Murdock. The company, founded by HGTV's Fixer Upper star Chip Gaines, just opened an office in Round Rock.
Download Photo: RL_070918_A.jpg for FREE at www.myrealtyline.com
Watch out folks, Natalie Penland of Legacy Mutual Mortgage is not to be messed with! She demonstrates some combat moves at North American Title's self-defense class. And you better bet she'll put the same force behind making sure your loan experience with Legacy Mutual Mortgage is smooth sailing! Download Photo: RL_070218_E.jpg for FREE at www.myrealtyline.com
Carrie Brewer of Legacy Development cooks up a storm with Chef Scotty with the best appliances from Bertazzoni at The Magnolia Grand Opening, at A Taste of Westside Landing at Rough Hollow. Download Photo: RL_071118_E.jpg for FREE at www.myrealtyline.com
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Tammy Gardner's grandson gets to meet the ever so cool Jason Edwards. Both are with JB Goodwin REALTORS and attended the company's annual employee picnic at J.B. Goodwin's home on Lake Austin.
! y t n i a t ST r A e F … C n 1 u r Daythe way we
’s t a h T
With direct access to Fannie Mae’s Day 1 Certainty Conventional loan program, SecurityNational can quickly provide an initial Automated Underwriting Approval you can take to the bank! • • • • •
An easier documentation process for essential loan information Streamlined loan processing An efficient process that eliminates duplicate documentation Faster underwriting and closing — with confidence Reduction in time may provide a stress free environment
9737 Great Hills Trail, Suite 200, 220 | Austin, TX 78759 | Branch NMLS# 258173 | Office 512.795.5596 | SecurityNational Mortgage Company | Co. NMLS# 3116 This is not a commitment to make a loan. Loans are subject to borrower and property qualifications. Contact loan officer listed for an accurate, personalized quote. Interest rates and program guidelines are subject to change without notice. SecurityNational Mortgage Company, NMLS# 3116 | SNMC0518CONV1573
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July 2018
S I E L W R T I E T G N N I K U N T A B H S D U A HTINGL TEXAS FOO A R G T I F H THE CEN LP E H UR
O Y H IT
WIT
We want to shout out a
BIG THANK YOU
to members of the real estate community that have served with us over the last 17 months. Nearly 46,000 Central Texans, one-third of them children, are counting on volunteers each week to get the nutritious food they need. Group volunteer events can make a BIG IMPACT on the ďŹ ght against hunger and Austin Title appreciates the help of our clients and friends.
If you would like to join us in our monthly service to the food bank, email or text Roxanne Ford to reserve a spot. Roxanne.Ford@austintitle.com/512-771-1195.
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July 2018 www.myRealtyLine.com
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RL austin
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Putting a Face on Real Estate since 1995
Putting a Face on Real Estate since 1995.™
Laurie Loewen of Joe R. Stewart REALTORS gets some mortgage insights from Denise Hosek of Highland Mortgage while cooling off at North American Title's Thrive for Five Mixer at North by Northwest.
Download Photo: RL_070618_B.jpg for FREE at www.myrealtyline.com
Curious to see the decor of the new Magnolia Realty office in Round Rock, Penny Green of Synergy One Lending asks Jason Taylor for a tour. Magnolia Realty was founded by HGTV's Fixer Upper host Chip Gaines.
Download Photo: RL_070118_D.jpg for FREE at www.myrealtyline.com Download Photo: RL_070918_G.jpg for FREE at www.myrealtyline.com
Go where and click what? Jenn Vincent of Austin Texas Homes finds her way around apps at the "Mega Agent Secrets for Dominating Your Market" seminar hosted by Mark Hairston of Caliber Home Loans.
July’s Skills for Success Event: How to Find and Finance Investment Properties • The 5 Most popular ways to find more deals than you can buy • How to finance w/o cash or credit (or wrap or flip or break any laws) • FREE EVENT on July 25th from 10:00AM-Noon. FREE lunch and Q & A with Wayne Morgan Noon-1:00PM.
18-hour CE Package Including the Real Estate Business Blueprint® • • • • •
Includes: Legal Update I & II on July 24th, Changes, Nuances & Updates on July 25th, Art of Mediation on July 25th. Conclude your 18-hour CE requirement with The Real Estate Business Blueprint® on July 26th. The Real Estate Business Blueprint® is a set of plans that shows you how to run your career more like the business it is. Are you minding YOUR own business? See schedule at buildmyrebusiness.com!
98 Hour SAE package + 40 hours of Accountability Mentoring only $1095 • Re-Start your Business NOW! Start closing transactions next month! • Not making the $ you should be? Get back on track. $$$ back Guarantee! • The phone is your best friend with easy-call scripts that generate qualified leads who want to buy/sell TODAY.
To Learn More or Sign Up Call or e-mail us Today!
512.453.0900 info@buildmyrebusiness.com
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July 2018
EXCELLENCE IS IN OUR NATURE.
DEERBROOKE LEANDER’S NEWEST MASTER-PLANNED COMMUNITY With competitively priced new homes from the $250s, Deerbrooke offers a community to create natural connections between friends and neighbors. Our neighborhood boasts serene outdoor spaces, state-of-the-art amenities and a tight-knit community just minutes from downtown Leander.
DEERBROOKE IS THE PERFECT GETAWAY THAT’S NEVER FAR AWAY. • CREEKSIDE NATURE TRAILS
• COMMUNITY CENTER WITH RESORT-STYLE POOL
• CLOSE PROXIMITY TO TOP-RATED LEANDER SCHOOLS
• CHILDREN’S PLAYSCAPE
• FENCED DOG PARK
• HEALTH & FITNESS CENTER
• OPEN GREEN SPACE & POCKET PARKS
• OPEN AIR PAVILION
183A
DESIGNED FOR GREATNESS Deerbrooke’s modern homes deliver affordability
SEY
AY EW
HAL
alongside the latest design trends. We’ve worked
DR
CO
B LL A
V ATI OR
MODELS OPEN DAILY!
183
TOM GLENN HIGH SCHOOL
SAN
929 DEER RIM RD. |
GA B R
with talented, superior builders to offer luxury residences to fit every budget and lifestyle at
IEL P
every stage of a growing family.
KWY
LEANDER, TX 78641
|
FROM THE $250s
LEARN WHY EXCELLENCE IS IN OUR NATURE AT DEERBROOKETX.COM
Materials are protected by copyright, trademark, and other intellectual property laws. All rights in these materials are reserved. All products and company names marked as trademarked (™) or registered (®) are trademarks of their respective holders. Copying, reproduction and distribution of materials without prior written consent of Deerbrooke is strictly prohibited. All information, plans, and pricing are subject to change without notice. This information does not represent a specific offer of sale or solicitation to purchase property within Deerbrooke. Models do not reflect racial preference.
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Putting a Face on Real Estate since 1995.™
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While networking and pulling in new business, Karen McGrath of JB Goodwin REALTORS, Becky Hopkins of Austin Title, and Kristin Carroll and Amy Elizondo, both of Sente Mortgage, take a moment to enjoy the Platinum Top 50 REALTORS' fashion show fundraiser held at the Hotel Grand Duca. Download Photo: RL_070318_A.jpg for FREE at www.myrealtyline.com
Robin Hart of Security National Mortgage Company, Bill Evans of Austin Real Pros and Dawn Lavka of Dawn Lavka Realty mix and mingle at ABoR's Diversity Mixer at Punch Bowl Social in The Domain.
Download Photo: RL_070718_B.jpg for FREE at www.myrealtyline.com
The staff at First American Title comes together to volunteer at the Central Texas Food Bank where they helped provide more than 5,700 meals. Way to go team! Download Photo: RL_071118_F.jpg for FREE at www.myrealtyline.com
Enjoying the scenery at the Goodwin residence, Mallory Mundy and Indu Govind, both with JB Goodwin REALTORS, have some fun at the company's annual picnic.
Submitted Photo
WELCOME! New Additions this Summer
to the KW NWMC Family
Pictured Left to Right
Simon Hall from Berkshire Hathaway Summer Hoglund from Realty Austin Tommy Hall from Coldwell Banker Reema Bhasin from Remax James Hohn from JB Goodwin
IN BLANCO VISTA
$7500
towards closing costs or price reduction
$3000
In realtor incentives
MX3homes.com *Must under contract by July 31st, 2018
If you want to see why these agents made the move contact Michelle or Paul teamleader@kwaustinnw.com or at the number below.
12515-8 Research Blvd., Ste. 100, Austin, TX 78759
KW Northwest (512) 346-3550 Paul Campanaro & Michelle Busby
KW Round Rock (512) 255-5050 Michelle Sherwood
KW Southwest
(512) 448-4111 Diane Johnson & Melanie Kennenmann
KW Lake Travis (512) 263-9090 Melissa Webb
Putting a Face on Real Estate since 1995.™
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July 2018
MARK HAIRSTON
When You Want It Done Right the First Time!
Shopping Around? First, make sure you are working with an experienced loan professional. For most people, buying a home is the single largest transaction of their life and is far too important to leave in the hands of someone not capable of giving proper counsel and advice. But how can you tell?
10 Simple Questions Your Lender Must Be Able to Provide You! Service & Experience:
Market Knowledge:
1 Will your company service my loan in the future?
1 Can you explain to me what mortgage rates are based on?
(The only correct answer is Mortgage Backed Securities or Mortgage Bonds.)
2 Do you offer Recast and Bi-weekly
2 What is the next market event that
payment options?
could cause interest rate fluctuation? (A Professional Lender will have this information at their fingertips!)
3 Will you provide me with 10 references I can contact?
3 How does the new tax law affect me?
4 What are your qualifications and can you forward me your resume?
4 What is happening in the market today
and what do you see in the near future?
(A Professional Lender will be able to tell you how rates are moving in real time!)
5 Do you have a Service Guarantee and is it in writing?
5 How will you help me understand what loan is best for me both now and in the future?
Mark Hairston
Senior Loan Officer (NMLS#221417)
512-789-6967 MarkHairston.com
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July 2018 www.myRealtyLine.com
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Putting a Face on Real Estate since 1995
Putting a Face on Real Estate since 1995.™
Mark Hairston of Caliber Home Loans asks William Pharis of All City Realty if he's all in for learning the "Mega Agent Secrets for Dominating Your Market." The program, presented by Don Hobbs, was hosted by Mark at the J.J. Pickle Research Center.
Download Photo: RL_070118_F.jpg for FREE at www.myrealtyline.com
David Perkins and Tammy Wise, both of Keller Williams Realty, are headed to the Monticello Homes model after touring the other three models in Deerbrooke in Leander to see if they've won the $1,000 cash prize. They attended the community's grand opening event where they learned how the community's site plan includes miles of trails and creeks, pocket parks and other amenities that are meant to create community connections between residents.
Download Photo: RL_070318_B.jpg for FREE at www.myrealtyline.com
Lucinda Bachman of Supreme Lending talks with Sondra Chambers of Reilly REALTORS about all the amazing classes her company offers to keep REALTORS informed about the latest nuances of the mortgage market. They both attended the Platinum Top 50 REALTORS last fashion show fundraiser.
Download Photo: RL_070418_C.jpg for FREE at www.myrealtyline.com
’S IT
t e e w e s hom t s u r t e hom
ALL IN
your
BACKYARD at
Address
Builder
Bed, Bath, Sq. Ft. Garage Price
2201 Ringstaff Road
Chesmar Homes
1,723
3,2,2
624 Smilser Lane
Chesmar Homes
1,723
3,2,2
$308,855 AUG
605 Smilser Lane
Scott Felder Homes
2,244
3,2,2
$337,990 AUG
624 Germander Road
Ready
$301,230 AUG
Brookfield Residential
2,246
3,2.5,2 $349,990 NOW!
2037 Texas Sage Street Brookfield Residential
2,226
3,2.5,2 $355,645 SUMMER
604 Smilser Lane
Scott Felder Homes
2,447
3,2.5,2 $356,990 AUG
629 Smilser Lane
Scott Felder Homes
2,623
4,3.5,2 $379,990 SEP
425 Judge Fisk Drive
Perry Homes
2,738
4,3,2
629 Judge Fisk Drive
Perry Homes
3,158
4,3.5,3 $439,900 NOW!
433 Chitalpa Street
Brookfield Residential
2,732
3,2.5,2 $449,695 NOW!
2212 Upchurch Street
Perry Homes
3,002
4,3,3
$424,900 JUN
$439,900 JUN
2208 Upchurch Street
Perry Homes
2,943
4,3,3
$474,900 AUG
709 Germander Road
Drees Custom Homes
3,352
4,4,3
$499,900 NOW!
Hometrust Mortgage has been helping people buy, refinance and construct homes in the Austin area for 31 years. We offer a full array of home mortgage products and your loan is processed and underwritten locally.
Contact Hometrust Mortgage today for a free consultation or to get started on your home purchase or refinance.
Call (512) 450-1222
29
✪
LiveAtBryson.com
AN REAG ALD RON
homes from the $250s to $500s Brookfield Residential • Chesmar Homes Drees Custom Homes • Lennar Homes Perry Homes • Scott Felder Homes
Home is where you gather with family and friends and make memories that last a lifetime.
SAN GABRIEL PKWY. LEANDER
183A
Richie Rodriguez
Lynn Edgar
NMLS# 222698 NMLS# 221412 rrodriguez@hometrust.com ledgar@hometrust.com
Bradley Rife
NMLS# 221487 brife@hometrust.com
Catherine Darwin
Tyler Browne
NMLS# 1606718 NMLS# 1531348 cdarwin@hometrust.com tbrowne@hometrust.com
Raquel Frazier
NMLS# 460935 rfazier@hometrust.com
Hometrust Mortgage Company, NMLS# 149932 4301 Westbank Dr. Escalade B Suite 150 Austin, TX 78746
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Home Builders Assoc. of Greater Austin
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President’s Column By Lee Whitaker • 2018 President
The Parade of Homes™ at Travisso debuts this Fall
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t’s been more than a year since the close of the 2017 Parade of Homes in the Peninsula at Rough Hollow where more than 8,000 visitors showed up to get a look at five eye-popping luxury custom homes perched atop a summit overlooking Lake Travis. It’s amazing how time flies as we now find ourselves embarking on the grand opening of the 2018 Parade of Homes this fall. This year, the Home Builders Association is excited to bring the longest running luxury home tour north to Travisso in Leander. Travisso is a true master-planned community nestled in the dramatic Texas Hill Country just outside of Austin. From the moment you drive into Travisso, you will find an extraordinary community filled with luxuries and beauty unmatched in the area. Travisso is located near northwest Austin's high tech employment center, within the acclaimed Leander school district and close to shopping and recreation. Surrounded by hiking trails, parks and more than 350 acres of open Hill Country, Travisso offers views in every price range.
2018 Parade of Homes details: This year’s Parade will feature four distinctly different styles of custom homes from four of the area’s most acclaimed custom home builders. Aluxa Homes, Glazier Custom Homes, Hill Country Artisan Homes and Vogel Builders are all showcasing some of their best work. Each home is priced above $1.5 million and includes some amazingly stunning features. To give you an idea of what you can expect at this year’s event, hear from Jared Glazier of Glazier Custom Homes as he talks about his Scandinavian farmhouse. “The farmhouse is a popular style among folks in Austin today! I wanted to take this popular style and make something original. Having lived in Sweden for two years, The Scandinavian spirit lives inside me. This is how the idea of the Scandinavian farmhouse was born. Elements of the modern farmhouse are combined with Scandinavian flavor to create a masterpiece that can be seen at the 2018 Parade of Homes.”
www.myRealtyLine.com New event features coming this fall: For the very first time, guests will experience the Parade in new way. Several informative programs and product demonstrations will be offered on the weekends that will allow visitors to explore, discover and be inspired in a way they haven’t before. From learning about new products and home technology to talking with the Parade builders themselves about the process of custom home building, visitors will have the opportunity to expand their experience beyond the tour. Programming is still in the early planning stages, so stay tuned for announcements on topics and scheduling. Visitors will also have the opportunity to take guided tours with each builder. Tours offer the chance to learn about all the little details that may not be immediately noticeable to the untrained eye. Each builder will explain what went behind their decision making for each feature, right down to how spaces were formed, intentions behind particular selections and so much more! Specific tour times will be announced and made available on the ParadeofHomesAustin.com website and onsite at the event. REALTOR Days Have Been Completely Revamped Because we love the REALTOR community, the HBA of Greater Austin has gone to great lengths to make REALTOR Days special. New this year, REALTORS will be exclusively invited to attend on Thursday, October 25 and Thursday, November 1 when the tour will be closed to the general public. Like in past years, REALTORS will use their business card as their ticket to attend free of charge but this year, the HBA is planning to treat REALTORS to free CE classes, exclusive guided tours, food, drink and prizes. The HBA is partnering
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2018 Parade of Homes™ October 19 - November 4 Travisso in Leander
with the Austin Board of REALTORS, Williamson County Association of REALTORS, Women’s Council of REALTORS, Platinum Top 50 REALTORS and others to make these new VIP REALTOR Days a huge success. The Parade of Homes will be open on REALTOR Days from 2-7 p.m. Sign up at www.ParadeofHomesAustin.com and like our Facebook page at Facebook.com/greateraustinparadeofhomes to get the latest updates and invitations. The 2018 Parade of Homes will kick off with a VIP Preview Party from 6-9 p.m. on Wednesday, October 17. Tickets are $75 and include dinner with entry. A cash bar will be open for the duration of the event. Guests will be the first to get the opportunity to tour these beautiful custom homes before the crowds set in. Live music will set the ambiance for this spectacular night hosted especially for VIP guests and industry insiders — the perfect stage for networking. The Parade of Homes will be open to the general public from 11: a.m. to 7 p.m. on Fridays through Sundays from October 19 to November 4. Tickets are on-sale now at the early-bird ticket price of $13 for single-day tickets. New this year, the HBA is offering an “all-access” pass for just $25. The all-access pass allows the ticket holder to come and go as often as they wish during operating hours — a must-have to attend all of the specialty programming and special events planned for the duration of the Parade. For more information and to buy tickets, visit www.ParadeofHomesAustin.com. RL
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July 2018 www.myRealtyLine.com
Robert Patterson of Trendmaker Homes invites these ladies to check out homes they are building in seven communities with homes starting in the high $200s. With Robert at the PT 50 REALTORS Fashion Show were Jennifer Clarke of Independence Title, and Erin Turnley, Kristi Larkham, and Dori Dillard, all of Coldwell Banker United REALTORS.
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Cass Brewer, left, of Legacy Development talks with a family about all the great designs to make their very own dream home at The Magnolia grand opening event called A Taste of Westside Landing at Rough Hollow.
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Meeting people is the key to success in the real estate industry. That's why REALTORS like Pei Tsai of Keller Williams Realty, Rela Manigsaca, Joy Padilla, and Romeo Manzanilla, all of Realty Austin, attended ABoR's Diversity Mixer where they met many new friends and colleagues.
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Come on big money! Kelley Murphy of First American Title is on a roll at the employee casino night event held at the company's Round Rock location - one of 11 offices in the area.
Trinity Title of Texas Round Rock has Moved! Our New Location is
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Marley Ketchum Business Development
(512) 627-0850 mketchum@trinitytitletx.com www.trinitytitletx.com
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Don Hobbs of Don Hobbs Coaching and Training helps agents like Janette Friend-Harrington of Coldwell Banker United REALTORS how to shift their mindset for success at his "Mega Agent Secrets for Dominating Your Market" seminar hosted by Mark Hairston of Caliber Home Loans.
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July 2018
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July 2018 www.myRealtyLine.com
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Michael Hahn-Conti of Legacy DCS shows off The Magnolia plan at Westside Landing at Rough Hollow where he told Mary Lynne Gibbs of Keller Williams Realty that the farmhouse-style homes there start in the $600s.
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Live music, BBQ, pool time and fun with fellow agents at the annual picnic are all the ingredients you need for a good time! Jim Templeton and Panadda Pramtotong, both of JB Goodwin REALTORS, enjoy themselves at the company's annual employee picnic.
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Ready to see the latest fashion, Mary Lou York and Betty Dubelbeis, both of Kuper Sotheby's International Realty, and Rose King of Independence Title take a break from work to see the last Platinum Top 50 REALTORS Fashion Show.
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Let the summer fun begin! NEW HOMES FROM THE MID-$200’S | MODELS OPEN SUMMER 2018
Home. Heart. Hill Country. .
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800 acres of dedicated open space and park land Close proximity to Texas State University, business, shopping and entertainment 45-acre Central Park recreation space Desirable location off IH-35 between Austin and San Antonio Resort-caliber amenities and playgrounds 10+ miles of trails
LaCimaTX.com
...............
CECI BURKLOW | 512-673-3414
SANDI DONNELL | 972-789-3530
CORINNE WALL | 210-807-8244
July 2018
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July 2018 www.myRealtyLine.com
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Women's Council of REALTORS
Putting a Face on Real Estate since 1995.™
President’s Column By Carol Hardy • 2018 President
Kelley Cooper Spencer of Georgetown Mortgage is congratulated by Hannah Patterson of Stewart Title of Austin for making history by being a key contributor to achieving the first Remote Online Notary closing in the state of Texas.
Is there such a thing as an affordable house in Central Texas? Submitted Photo
Susan and John Horton, both of John Horton Realty, help raise money for TREPAC at the annual ABoR TREPAC Movie Night. Susan holds on tight so she'll be safe from the dinosaurs in Jurassic World!
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Commitment to 5-Star Service We put an emphasis on delivering an unparalleled experience for all of our clients, and it shows with hundreds of positive ratings on Facebook. Contact your local Sente Loan Officer at www.SenteMortgage.com Sente Mortgage NMLS #132111 Monday-Friday 8:30-5:30pm Office: 512.637.9900 901 S Mopac, Bldg. IV Suite 125 Austin, Texas 78746
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ne may wonder, with all the national lists and reports floating around about what county, city, or area is growing the fastest, it is a bit confusing about the true affordability to live in such places. Travis and Williamson Counties have such diverse and beautiful places to explore, live, and work, of course everyone would want to move here! Once the cat is out of the bag, it’s hard to slow progress. With this comes the adage of housing inventory vs. affordability. With the gain of progress comes the growth of all city/county services as well. To keep up adequately, taxes increase which can pressure home owners out of their property. Affordability in all areas of life becomes a critical factor in the success and health of a vibrant city and its surrounding areas. Having property available at a cost that is reasonable has been and will be a factor of concern in our real estate market. We haven’t seen the proverbial price ceiling yet, and though it has slowed, we will always need to keep in mind housing that everyone can afford.
I don’t have the answers, but we seem to be in a catch-22 situation with property valuations and taxes that are driven by those valuations, keeping potential homeowners from purchasing affordable housing. I feel for those who have dreams of coming to Central Texas to live, only to face disappointment in this market. I see a buyer’s frustration too many times in the reality of their choices for home purchase. I sure hope those who can make a difference in the future of our Central Texas market take heed of this message and remember affordability has to become a reality for the betterment of our state. RL
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LAKE VIEWS ( I N C L U D E D )
F I N A L WAT E R F R O N T H O M E N O W U N D E R C O N S T R U C T I O N
302 MARINA VIEW COURT M O V E - I N R E A DY L AT E 2 0 1 8 • O V E R $ 1 0 0 , 0 0 0 I N U P G R A D E S 3 B E D • 3 . 5 B A T H • 2 , 3 5 3 S Q F T • W A L K T O T H E YA C H T C L U B
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Lakeside Courtyard Homes From the $600s L a ke R i d g e O n R o u g h H o l l ow.co m • 5 1 2 . 41 0. 6 0 9 1 Exclusive sales and marketing by Legacy International Resort Properties. Obtain the Property Report required by federal law and read it before signing anything. No federal agency has judged the merits of value, if any, of this property. *Freedom Boat Club & Austintatious incentives available only to the next five home buyers at closing. Subject to change. See Sales Team for details.
070218_TC_LR_RealtyLine_10.25x13.5_July.indd 1
7/2/18 11:45 AM
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July 2018 www.myRealtyLine.com
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Experts Speak Out
Commentary By Harold Copher, Jr. Willow Bend Mortgage
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Value-adds; are they worth it?
ost of us have watched the home improvement shows that seek out properties needing updates or are in various states of disrepair. The hosts give you their anticipated budget numbers for the individual tasks within the scope of the renovation as they are presenting the budget totals for the entire project. Toward the end of the show, you’ll typically get the completed project sales price or maybe the new appraised value. When the project is a full-scale renovation, in most cases the total value is greater than the sum of the parts. That’s how the orchestrator of the renovation is compensated. However, some tasks within the project bring more market value than others. In reality, most of the projects we see today are not a full-scale renovation. It is more likely an update or remodel to one or two areas of the home. A lot of sellers aren’t willing or able to update their homes for the sake of maximizing value, due to financial or time constraints. I find it interesting to view the home in need of updating through the lens of the buyer. There are some very good remodel loan programs available to assist with the process, but the reality is that the improved
property must increase in value dollar-for-dollar to maintain the same percentage down payment and resulting loan-to-value (LTV) ratio. For example, if you were purchasing a home that sold and appraised for $300,000 with an 80 percent LTV ratio, then you would need $60,000 for the 20 percent down payment. If you added a pool at a cost of $50,000 to the same transaction, but the pool only added $25,000 to the value of the house; you would need $65,000 for your 20 percent down payment on the improved $325,000 appraised value, plus $25,000 to pay the balance due to the pool contractor. That’s $90,000 to get to an 80 percent LTV loan on the acquisition cost plus the pool. In essence, you financed 80 percent of the $300,000 purchase price and 40 percent of the cost of the pool. Remember, if your appraised value is lower than the acquisition cost, the appraised value dictates the loan terms. If the appraised value is greater than the acquisition cost, the acquisition cost dictates the loan terms. It’s always the lower of the two values. If you added a $50,000 upgrade to your $300,000 contract price, and the improved val-
At Belterra, outside possibilities are a sure thing.
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"Most appraisers are not going to incorporate the initial cost of the system, depreciation and potential energy savings over the remaining expected useful life to come up with value added to the property by having solar panels."
ue appraisal came in at $350,000, the numbers are closer to what most buyers expect. If you only had $60,000 to contribute toward your down payment in the pool example, you could still complete the purchase transaction by paying your pool contractor the $25,000 balance due and use your remaining $35,000 toward the down payment on your $325,000 purchase. However, your loan terms would change some since you no longer had a 20 percent down (80 percent LTV) loan. What about solar panels? How much value would solar panels add relative to their initial cost? That’s a little trickier. To understand why, I think it’s important to grasp the process. Most appraisers are not going to incorporate the initial cost of the system, depreciation and potential energy savings over the remaining expected useful life to come up with value added to the property by having solar panels. Your ap-
praiser will likely search recently sold properties for comparable transactions with and without solar panels, then complete a feature-by-feature analysis with adjustments made to equalize the condition and amenities of the two properties. The difference between the sales prices of the two houses after these adjustments becomes the value added for the solar panels. Simply put, the lender believes the market value calculation above is a reliable method to determine the value the buying public places on the solar panels. That’s basically the same process an appraiser would use to determine value added for the pool, outdoor living area, kitchen or bathroom remodel. The initial cost of the improvement is not as relevant to current market value as most people think. That’s as it should be, right? If you grasp the appraiser’s process, then it becomes easier to understand why those valueadded numbers for various improvements we see in published articles may or may not be an accurate reflection of what you see with your transaction. RL
Explore miles of hike and bike trails
New Amenities, Schools and Models
Neighborhoods from the $300s - $800s
Brookfield Residential I Drees Custom Homes I Highland Homes I Scott Felder Homes Sitterle Homes I Toll Brothers I Trendmaker Homes I Wilshire Homes
469.513.5600 I belterratexas.com
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EARN MORE!
BONUSES | REWARDS
Bring your clients! Toll Brothers’ National Sales Event now through July 29th. Participating communities only. See Sales Manager for details. LEANDER
EARN BONUSES ON MULTIPLE SALES WITH OUR EXTRA EARNINGS PROGRAM FOR AGENTS!* 1st Sale - 3% | 2nd Sale - 4% 3rd & All Subsequent Sales - 5% Earn bonuses on sales between 9/1/17–10/31/2018. All bonuses will be paid on the buyer’s Closing Disclosure at closing. See sales representative for details.
ADVANCES 50% Advance Commission Program†
No need to wait! Receive half of your commission before closing.
RELO REIMBURSEMENTS 100% Relocation Referral Fee Reimbursement‡ Get more flexibility negotiating domestic & global referral fees with Toll Brothers!
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Toll Brothers at Travisso New Home Sites with Views Siena Collection New Home Sites & New Model Now Open 60-Ft.-Wide Home Sites From the low $400,000s • (512) 838-6044 Naples Collection 2 Move-In Ready Homes Available 70-Ft.-Wide Home Sites From the upper $400,000s • (512) 267-3615 Florence Collection 3 Move-In Ready Homes Available 80- to 100-Ft.-Wide Home Sites From the low $500,000s • (512) 832-6015 Toll Brothers at Sarita Valley 2 Quick Delivery Homes Remain From the mid-$600,000s • (512) 259-1110 Open by appointment only. Toll Brothers at Mason Hills Now Open From the upper $300,000s • (512) 259-1110 DRIPPING SPRINGS Toll Brothers at Belterra Now Open for Pre-Model Sales The Executive Collection 2,200–3,600+ Sq. Ft. Home Designs From the $400,000s • (512) 551-2003 The Estate Collection 2,650–4,300+ Sq. Ft. Home Designs From the mid-$400,000s • (512) 551-2003
For more details on all communities & homes available for quick delivery, visit TollBrothers.com/RealtyLine Open Mon.–Sat. 10 am–6 pm, Sun. Noon–6 pm. Real estate agents are required to register and to accompany clients on their initial visit. Brokers welcome. Prices subject to change without notice. Program subject to change or cancellation. Investor sales do not qualify. Other restrictions may apply. This is not an offering where prohibited by law. *Subject to employing broker’s approval. Extra Earnings Program for Agents valid on contracts signed between 9/1/17–10/31/18. Bonuses on third, and all subsequent sales are capped at 5%. See sales manager for details. In accordance with Texas Occupations Code Sec. 1101.651(d), all broker’s fees, including BTSAs, are payable to a real estate broker directly and not to a licensed salesperson. 1.5% of the 3% will be paid under the Advance Commission Program and the 1.5% balance will be paid after closing. All/Any additional bonuses earned will be paid at closing and accounted for on the buyer’s Closing Disclosure. †Advance Commission Program is valid on contracts signed after 11/1/16. ‡Relocation Referral Fee Reimbursement Program — eligible referrals must be from outside the Austin area.
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Briana McDonough of Westside Landing at Rough Hollow joins Rachelle Sturgis of the Rough Hollow Home Owners Association and guest Liz Harder at the Drees Custom Home model in the Lakeway development. Guests learned to pair wines, chocolates and perfumes. A trifecta of senses!
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Eric Gaylord of Sierra Homes, Sunni Nye of Keller Williams Realty and ABoR President Steve Crorey get ready to jump out of their seats at the ABoR TREPAC Movie Night screening of Jurassic World.
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No fashion show would be complete without the presence of these Texas National Title ladies. Nicole Boynton and Melissa Cason get ready to take their seats at the Platinum Top 50 REALTORS fashion show fundraiser.
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experience the SUPREME difference! We are excited to announce that Supreme Lending has been chosen as an Austin Best Places To Work Winner for the 6th consecutive year! Whether we are taking care of our employees or helping our customers achieve the American dream of home ownershp, we will continue to deliver the Supreme Difference!
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McClellan Region
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ADVERTISEMENT. EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 (www.nmlsconsumeraccess.org) 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. © 2018. This is not an offer to enter into an agreement. Information, rates, & programs are subject to change without prior notice and may not be available in all states. All products are subject to credit & property approval. Supreme Lending is not affiliated with any government agency. Intended for Texas consumers, Texas - SML Mortgage Banker Registration. Residential Mortgage Loan Originator.
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Toll Brothers A S S O C I AT E S I N P R O G R E S S - A d v e r t i s e r P r o f i l e b y K a t i e A g n e s s
S
ince entering the Austin market in 2013, Toll Brothers has been developing luxury homes for residents in some of the areas’ most popular communities. An awardwinning Fortune 500 company, Toll Brothers was founded in 1967 in Pennsylvania, and has expanded into 22 states across the country. “Toll Brothers’ presence in Texas began in 1995 in the Dallas/Fort Worth market, and now is building in 31 communities across the state,” says Brandon Cooper, division vice president for Toll Brothers. “Currently in the Austin area, we are primarily in Leander communities of Travisso and Mason Hills, and we have two remaining homes in Sarita Valley. This summer we will be expanding to Dripping Springs in Belterra, where Toll Brothers acquired the last phases of this established, award-winning, master-planned community.” Having now only been in the Austin-area for five years, Toll Brothers is quickly making its presence known. “They know and expect that they will get that quality from us here," Cooper says. "With us having a national footprint, we’re excited when people recognize and value the brand.” Whether seeking a specific floorplan for their family’s needs or looking for high-end appliance upgrades, Toll Brothers homes offer a variety of customization opportunities. “We
are not a custom homebuilder, but we are a luxury homebuilder that provides a lot of personalization opportunities,” Cooper says. “We are always at the forefront of architecture and a step above when it comes to home features and personalization.” Toll Brothers has more than 20 structural offerings that can be selected from to meet the homebuyer’s needs and preferences, including media rooms, larger porches, two-story covered porches, two first-floor master suites and more. “All of these customer proven structural changes are pre-designed and pre-priced, so buyers can quickly and easily figure out what they want and what they can afford,” Cooper says. Additionally, Toll Brothers contracts with luxury brands such as Kohler, Whirlpool, Viking and more, creating different levels of fixture offerings based on style, price and quality. “These brands fit who we are and give our buyers the opportunity to personalize,” Cooper says. This summer, Toll Brothers will add new features to its Smart Home program, which enables homeowners to automate and control features like heating, cooling, lighting and more. “We’re always striving to take the next step in the technology we are putting into homebuilding,” Cooper says. “Buyers have the
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July 2018
choice to plug and play based on their needs. Whether a buyer only wants the capability to control heating or full home automation with all of the bells and whistles, they can do that. Whatever the needs, we can create a means for the upgrade.” To cater to a variety of homeowners and family types, Toll Brothers offers an array of home styles and architecture. “Depending on the neighborhood and location, we cater our style. For example, in Texas, we see a lot of multi-generational families, so we’re designing products that offer two master suites or two bedrooms on the first floor,” Cooper says. “In Travisso, we sell Mediterranean or Hill Country style homes, primarily with stucco and stone. In Mason Hills and Belterra, we often see customers looking for a more traditional architecture with stone and brick styles. Dallas is seeing a big push for classical architecture and Tutor styles.” Over the past 23 years in Texas, Toll Brothers has won numerous architectural design awards. Toll Brothers is a six-time Texas builder of the year Star Award winner awarded by the Texas Association of Builders. On a national level, the company has been ranked the No. 1 Home Builder Worldwide on the FORTUNE Magazine "World's Most Admired Companies®" list for the past four years. As Austin continues to expand, Toll Brothers plans for its future growth and how to best
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Brandon Cooper, Division Vice President
It’s the Toll Brothers brand. When people step off the plane and are out looking for a home, they know they will get the same level of quality service and experience from their previous Toll Brothers home. adapt and cater to the community. “From a community standpoint, we’re always looking to bring new products to the Austin market, and we’re constantly adapting our footprint and style to bring our customers the latest and greatest in home styles and features,” Cooper says. “We are extremely excited about our growth in Austin and of the area in general. It’s a vibrant and thriving market, and Toll Brothers is excited to be here and for our future in Austin.” RL
Happy 4th of July Wishing you joyous family reunions, exciting community gatherings and a heart full of gratitude for our freedom.
A message from North American Title RESEARCH 11044 Research Blvd. Bldg. D, Suite 100 Austin, TX 78759 t: 512.249.0576
NORTH AUSTIN 5608 Parkcrest Drive Suite 150 Austin, TX 78731 t: 512.302.3892
ROUND ROCK 1 Chisholm Trail Suite 3100 Round Rock, TX 78681 t: 512.255.6550
www.facebook.com/Austin.nat www.nat.com/Texas Like Clockwork ® ©2018 North American Title Group, LLC and its subsidiaries. All Rights Reserved. North American Title Group, LLC and its subsidiaries are not responsible for any errors or omissions, or for the results obtained from the use of this information. North American Title Company and related design and Like Clockwork are registered Service Marks of North American Title Group, LLC or its corporate parent. | TX 18-13475 R 6.28.18
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Don Hobbs of Don Hobbs Coaching and Training asks if these agents are ready for a gold mine of valuable information on becoming a mega agent at his seminar hosted by Mark Hairston of Caliber Home Loans.
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Staci Wimbush, third from left, director of sales and marketing for Rough Hollow, thanks selected REALTORS who have been supportive of the Lakeway community. From left: Melissa Webb, Bertina Schreiber, Mary Lynne Gibbs, Amber Hart, Lindsay Kelley, Jacquelyn Foreman and Suzie Adams. Download Photo: RL_071518_M.jpg for FREE at www.myrealtyline.com
Winners of First American Title's employee casino night celebrate the evening and the fact they work for such a great company! Download Photo: RL_070418_D.jpg for FREE at www.myrealtyline.com
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Randy Rollo, the man behind Leander's new community, Deerbrooke, points out some of the finer features of the community to Jennifer Haines of Keller Williams Realty. Randy prides himself on the extent they've gone to preserve the natural beauty of the land along with its natural waterways, trails and trees, making it one of the most prized properties in the area.
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www.legacymutual.com
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Santa Rita Ranch
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A S S O C I AT E S I N P R O G R E S S - A d v e r t i s e r P r o f i l e b y K a t i e A g n e s s
he community is expanding daily, and our estimated buildout could take 15 years,” says Ed Horne, developer for Santa Rita Ranch. “If you are looking for first-class amenities and lifestyle, Santa Rita Ranch leads the pack. The vision of Santa Rita Ranch is to bring the best in luxury lifestyle amenities and we will continue to bring on more each year.” Santa Rita Ranch residents can enjoy amenities like two-story water slides, outside dining and lounging at the Ranch House pool, state-of-the-art exercise equipment and classes at Happy’s Wellness Barn, or live music, yoga classes and food trucks at The Green Play Park. Throughout the community, miles of hike and bike trails offer additional ways for residents to live an active and healthy lifestyle. Even with its robust amenity offerings, Santa Rita Ranch has plans to expand further and develop. “We plan to bring multiple amenity centers into the community, all designed with a different purpose and theme, bringing a wide variety of activities to our residents,” Horne says. “We also have a Director of Fun, who plans and hosts a year-round calendar of events to ensure they fully utilize the amenities and live a unique lifestyle. There is something for every age group and interest. It’s all about fun and connectivity.” Located in the Reagan Corridor of Williamson County, the fifth fastest growing county in
Texas, Santa Rita Ranch is within a 15-minute drive to Georgetown, Leander, Liberty Hill and Cedar Park. The area is emerging as a significant employment corridor with supporting businesses, restaurants, entertainment, schools, medical facilities and more. “Santa Rita Ranch sits at the epicenter of this growth,” Horne says. “Within our community alone, a new fire station is under construction and we have land dedicated to new schools for both Liberty Hill and Georgetown, as well as almost 20 acres of commercial tracks that will bring retail and businesses.” Because of Santa Rita Ranch’s proximity to
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July 2018
have many families who now have three generations all living in Santa Rita Ranch, and in a home that was just what they were looking for.” To cater to their residents’ home style preferences and needs, Santa Rita Ranch has 12 builders who offer a total of 15 different product lines. Homebuyers can expect to see an array of home offerings include 1-story homes, 2-story homes, high ceilings, interior finishing options, energy efficient and environmentally friendly products, outdoor living spaces, large kitchens, and more. “We have an amazing line up of top builders in the industry. This year, we opened two new model home parks and brought on five new builders,” Horne says. “Prices range from under $200k, which is hard to find anywhere in the area up to around $700k. With so many options, you’ll find an abundance of plans to fit almost any lifestyle and needs list.” This year, Santa Rita Ranch received the Grand Max Award for Master Planned Commu-
Prices range from under $200k, which is hard to find anywhere in the area, up to $700k. With so many options, you'll find an abundance of plans to fit almost any lifestyle and needs list. Austin, expanding surroundings and diverse amenity offerings, the community attracts a variety of residents, from young families to active seniors. “You’ll find a mix of every age and stage of life,” Horne says. “Our amenities are designed to pair with our residents and connect lives. We
3 4 5
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nity of the Year by the Home Builders Association of Greater Austin, along with five additional industry awards, and named the Master Planned Community of the Year by the Austin Business Journal. Developer Ed Horne was awarded Developer of the Year in 2017 by the Home Builders
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Ed and Elizabeth Horne, Developers of Santa Rita Ranch
Association of Greater Austin. Much of Santa Rita Ranch’s success is embodied in its “Ranch Code,” a set of values the community uses to measure every decision. Elements of the Ranch Code include: learn from the land, enjoy family bonds, live active and healthy, get to know your neighbors, take pride in your work, be kind and respectful and have fun along the way. “What other master planned community can you name that has a set of values? Our dedication to the Ranch Code serves as our compass to stay true to the vision,” Horne says. “You see the Ranch Code in everything that is on the ground, and you feel it when you visit. It’s inspiring to see it at work.” Horne continues, “Santa Rita Ranch is a community that places value on an active and healthy lifestyle, living a life inspired, and staying close to the basic,” he says. “It’s a place close to everything you need, and when you pull in the driveway, it’s everything you want.” RL
Get that Felder Feeling when you sell a new Scott Felder Home! With the Scott Felder Homes 2018 Realtor Loyalty Program, your buyers will quickly embrace our “Choose It. Love It. Live It.” promotion that allows them to enjoy the best we have to offer. CHOOSE from a variety of excellent new home locations and prices. LOVE all our award-winning home designs and interior options. And they LIVE in a home built just for them that will provide value for years to come.
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*All qualified sales must be original Scott Felder Homes (“SFH”) contracts written between January 1, 2018 and November 30, 2018. Sell ONE home and you’re enrolled in SFH’s Co-Broker Loyalty Program! Sell TWO homes between 1/1/18 and 11/30/18 and qualify for a 1% bonus on your 2nd SFH closing. Sell THREE homes between 1/1/18 and 11/30/18 and qualify for a 2% bonus, entitling you to a 5% total commission on your third, and all subsequent closings for the remainder of 2018! Bonus Percentage will be dictated by order of closing: 3% upon first closing, 4% upon 2nd closing, and 5% upon third closing and thereafter between 1/1/2018 and 12/31/2018. All bonuses will be noted on the Closing Disclosure (“CD”) and will be paid at closing. Payments of commissions and bonuses will only be made to actively licensed Texas Brokers. Broker’s commission cannot be used to reduce the price of the home and is only valid if Broker accompanies and registers its client on the first visit to any SFH Austin Division Community during the bonus promotion period AND Broker’s client enters into a new sales agreement for an eligible available home during the bonus promotion period. Bonus paid to Broker upon client’s successful closing and funding and is based on the ORIGINAL contract price as stated in the Sales Agreement, excluding any Seller incentives, subsequent change orders, re-writes, or upgrades. While commission bonuses cannot be used to reduce sales price, Broker may elect to waive participation in the 3%-4%-5% bonus program and apply its Broker bonus, in all or part, towards purchaser’s closing costs. May not be combined with any other Broker bonuses or offers. No team sales: only individual selling agent may qualify. Broker is responsible for all applicable taxes. Please see a SFH Sales Associate for complete details.
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July 2018 www.myRealtyLine.com Front Page: Continued
ing the city can begin to churn out housing for all income levels. But that only checks off one box. It doesn’t solve the skilled-labor shortage in Central Texas, which adds costs to homebuilding projects. Labor costs are another top obstacle, according to a survey by the National Association of Home Builders. Both of these are worse this year compared to last year. Building material costs were cited as a hindrance by 84 percent of members, up from 77 percent in 2017. And then there’s income growth. Like the rest of the country, it’s been stagnant for decades. Median family income in Austin has increased 17.5 percent; but median home prices have shot up 42.5 percent. Home prices in Hays and Williamson Counties are going up, too, but the incline has not accelerated as steeply or as quickly. That’s what makes the suburbs so appealing, especially for adults who can’t rely on wage growth in step with inflation. Non-profit organizations are cropping up to help turn around some of these issues. Since 1953, HomeAid has been bringing together entities like builders, suppliers, lenders and government to create housing for the homeless. A new Austin chapter recently launched in partnership with the Home Builders Association of Greater Austin. Executive director Melissa Nicewarner Daly says, “The biggest challenge when trying to place people in jobs is their housing status. You can find people jobs any day of the week, but to find affordable, convenient housing is increasingly more challenging. They need access to bus routes, for instance. So people are getting pushed further and further away from the urban core.” This is one cycle we can’t seem to dig ourselves out of.
Counties in the Austin-Round Rock metro are taking steps to address or head off their own affordability crisis. Williamson County is trying ways to make housing less expensive with vouchers and tax credits. Both are already in high demand. Georgetown’s current affordable housing options have a four to six-year waitlist, but early in July, Hillwood Development Company announced its acquisition of a 366-acre plot of land, and to be part of Wolf Ranch master planned community, known as Guy tract (for the family that owned the land), builders are constructing more than 2,500 single-family homes and multi-family projects. One neighboring city that is experiencing population growth—between four to six percent the last few years—doesn’t appear on any “top destination” lists for adults fleeing Austin—or fleeing anywhere, for that matter. In June, Hutto announced the approval of 2,000 new home zoning permits. The city also is designing a new amphitheater that will hold up to 10,000 people. For a small city with a population just over 20,000, that’s a pretty ambitious project. But unlike a lot of surrounding suburbs, for quite some time, Hutto seems to have been on the right side of planning for a possible population explosion. “Hutto started as a bedroom community, so we have an abundance of affordable starter homes – more than 5,000 lots starting in the lower to mid $200s. Some builders are pulling as many as 20 construction permits a day,” says Eliska Padilla, executive director of communications for the City of Hutto. “The next thing our community wants are “step-up homes” so families stay and put down roots here.”
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Submission Guidelines: Submit photos, press releases and calendar items to naomi@myrealtyline.com. All photos must be at least 300 dpi and include a caption with first/last name and company affiliation. Press releases must be fewer than 300 words. Non-advertisers submitting calendar items will be charged $25 per submission. All submissions must be received at least seven calendar days prior to ad copy deadlines published at www.myrealtyline.com/blog/advertise.html. Submission items will be included as space allows. Realty Line Austin is published monthly by Caxton Publications, Inc.© as a non-subscription publication for the more than 10,000 members of the Austin Board of REALTORS®(ABoR), the more than 1,500 members of the Williamson County Association of REALTORS® (WCREALTORS) and the Home Builders Association (HBA) of Greater Austin. Realty Line Austin is printed on recycled paper. Realty Line Austin is a proud member of the Austin Board of REALTORS®, the Williamson County Association of REALTORS®, the Home Builders Association (HBA) of Greater Austin and is a honorary member of the Women’s Council of REALTORS. Realty Line Austin is not responsible for opinions or facts expressed by non-staff writers or for errors and any by-products in advertising or editorial copy. REALTOR® is a registered trademark. The word REALTOR® sometimes appears in this publication without the registered trademark symbol (®) for the purpose of saving space. Wherever the word REALTOR® appears in this publication, the registered trademark should be assumed.
CONGRATULATIONS! June
2018
Top Producer at
On Q Financial Austin Branch
AARON PAGE
MORTGAGE CONSULTANT NMLS 222159 TX 222159
P: 512.831.4227
Aaron.Page@OnQFinancial.com AaronPage.OnQAustin.com
5914 W. Courtyard Drive Ste 150 B, Austin, TX 78730
On Q Financial Inc. is an Equal Housing Lender. NMLS 5645 | TX 5645 ER0621180681Y000004B8h0
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Rough Hollow associates Ashley Rust, Paige DeMoore and Christen Lowe are pleased to see guests enjoying themselves at a VIP event at the Drees Custom Home model. Guests learned about pairing various wines, chocolates and perfumes.
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Family photo moment! Nick, Katie and Hehley Pronsky of Legacy Mutual Mortgage meet some new people at the Magnolia Realty grand opening in Round Rock.
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Flaunting a colorful summer look, Cara Keenan of Realty Austin struts her stuff down the catwalk at the Platinum Top 50 REALTORS' Farewell Fashion Show at the Hotel Grand Duca.
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July 2018 www.myRealtyLine.com Residential Real Estate Council
austin
President’s Column By Mary Lynne Gibbs • 2018 Director
TM
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Putting a Face on Real Estate since 1995.™
Residential Real Estate Council Events Please like us on Facebook: Texas Central RRC - Residential Real Estate Council is our page that highlights our upcoming events.
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Times have changed, and so have housing prices!
t was May 23, 1973, when my parents closed on their home and our family moved back to Austin. The final sales price was $34,582.75. Wow, how times have changed since my teenage years. Fast forward to May 2018, when the Austin Board of Realtors reports the median price of a home in our city is $389,000, a figure fewer and fewer can afford. Recently I attended a mid-year economic forecast with speaker David Tandy, president of Texas National Title, who stated that if home prices continue to increase at 5 to 7 percent per year, combined with our population growth, then affordability challenges will continue, and rentals will grow. As REALTORS we all are feeling this impact and realize that more and more of our first-time home buyers are seeking housing on the outskirts of Austin due to affordability. The challenge for them is often whether to accept a longer commute into work or trade off with less square footage closer in.
August
7-10 September
Affordability also is taking a hit due to interest rates, which had been historically low
19
but are now rising. Communicating this shift
September
with our buyer prospects may encourage them
Texas REALTORS® International Cruise will be leaving out of Galveston and there are still cabins available. CRS 204 Buying and selling Income properties with Chris Bird will be included in the cost of the cruise. Texas REALTORS® Conference San Antonio • Hyatt/CC Kim Knapp will be teaching at the RRC luncheon September 10th. Westwood Country Club, September 19, 2018 from 11:30 AM – 1 PM with, Avis Wukasch, Chair of Texas Real Estate Commission will be sharing a TREC update. Please join us and RSVP Susanna Boyer sbnextage@gmail.com as this will sell out as it has in the past.
to act more quickly to enable them to benefit from homeownership sooner rather than later. While native Austinites who have witnessed home prices skyrocket may feel as
CRS
though housing affordability is diminish-
Designation
If you are interested in obtaining your CRS designation contact Mary Lynne Gibbs for more information: austinluxurybroker@gmail.com or 512-431-2403.
ing, Austin is reasonable when compared to the national market. According to PayScale, our city is 3 percent below the national average cost of living and the cost of housing is 15 percent below the national average. "In many other large cities, the cost of housing is well above the national average, regardless of the overall cost of living,” according to PayScale. “It's no wonder that Austin is one of the most popular cities in Texas." So while home prices have risen astronomically
over
the
past
45
years,
smile and realize it could be worse! RL
NOW OPEN
New Homes From The $230s in North Austin
Submitted Photo
Hungry anyone? This banana split must be worthy of the Guinness World Records for being nearly endless. Thanks to J.B. Goodwin, agents and company employees got a firsthand look (and taste) at the company picnic.
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John Schutze NMLS ID: 208548; TX - Licensed • N MLS ID #2611 (Nationwide Mortgage Licensing System www.nmlsconsumeraccess.org) • TX Licensed in TX: Licensed Mortgage Banker & Licensed Residential Mortgage Loan Servicer- TX Department of Savings & Mortgage Lending *Self-reported funded loan data: 2014-2017 Guaranteed Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason prohibited by law
6207 Bee Cave Rd, Suite 110, Austin, TX 78746
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July 2018 www.myRealtyLine.com
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Telenna Thompson, right, of Monticello Homes, reviews with Cindylou Hunter of Home Hunters of Austin Realty and Della Taylor of Della's Realty the list of features that come with the homes they build in Deerbrooke in Leander where offer homes start in the mid $300s and can be modified to fit a buyer's living style. Download Photo: RL_070418_G.jpg for FREE at www.myrealtyline.com
In coordinating jewel tones, Jacquelyn Foreman of Coldwell Banker, Lindsay Kelley of Keller Williams Realty and Suzie Adams of Coldwell Banker United REALTORS enjoy an elegant meal after work. Staci Wimbush of Rough Hollow initiated the gathering at Intero Restaurant, which offers a contemporary Italian inspired menu that is updated daily.
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Staci Wimbush, center, director of sales and marketing for Rough Hollow, is pleased that Debbie Hector and Mariel Miller could attend the VIP event for the REALTOR Advisory Board. Guests got to indulge themselves with bites from Intero Restaurant, perfume from Jo Malone and artisan chocolates from Crave.
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Sarah Tallman of First American Title is feeling lucky at the company's employee casino night.
CONGRATULATIONS TO MORTGAGE LOAN ORIGINATOR
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Financing offered by DHI Mortgage Company, Ltd. Branch NMLS #38686. 10700 Pecan Park Blvd., Suite 120, Austin, TX 78750. Company NMLS #14622. For information on DHI Mortgage licensing, please visit www.dhimortgage.com/licensing. Provided for informational purposes only. This is not a commitment to lend. Not all borrowers will qualify. REV: 05/23/18 | EXP: 05/23/19
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Events & Education Networking & Other Events Thursday, July 19 HBA of Greater Austin: Mid-Year Housing Forecast Phillips Event Center, 11:30 a.m. to 1 p.m. Wednesday, July 25 ABoR Global Day: Keeping Austin Real Estate Global ABoR Headquarters, 10 a.m. to 3 p.m. Tuesday, August 14 Champions School of Real Estate: Career Night Round Rock Office, 6 p.m. to 7:30 p.m. Thursday, August 23 Pure Gold Realty: Rock 'N Restock The Belmont, 6:30 p.m. to 11:30 p.m.
Monthly Association Meetings Tuesday, July 17 CTAMP: Commissioner Caroline Jones TDSML Great Hills Country Club, 11:30 a.m. to 1 p.m. Wednesday, August 1 AMBA: Monthly Meeting Austin Country Club, 11:30 a.m. to 1 p.m. Submitted Photo
Guests get ready to dig in to what may be the longest banana split on the planet at the JB Goodwin REALTORS annual company picnic hosted by J.B. at his Lake Austin home.
Tuesday, August 14 HBA: Williamson County Chapter Meeting WCREALTORS Office, 11:30 a.m. to 1 p.m. Wednesday,September 19 RRS: Bi-Monthly Meeting Westwood Country Club, 11:30 a.m. to 1 p.m.
Continuing Education Classes Tuesday, July 24 Stewart Title: Legal Update II Round Rock Campus, 9 a.m. Wednesday, July 25 Blackburn Communities: Two Simple Secrets on How to Get More Business 4520 Katherine Drive, Round Rock, 1 p.m. Wednesday, July 25 Real Estate Business School: How to Find and Finance Investment Properties Austin Campus, 10 a.m. Wednesday/Thursday, August 8 & 9 Champions School of Real Estate: Farm & Ranch Real Estate Round Rock Campus, 8:30 a.m.
See details and much more at myRealtyLine.com
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a mortgage and other living expenses. On the
Front Page: Continued
other hand, should Austin just concede that
So it’s good to see suburbs are rolling out initiatives welcoming families and individuals who can no longer justify spending more than 30 percent of their stationary income on
Putting a Face on Real Estate since 1995.™
TM
Putting a Face on Real Estate since 1995
Pure Gold Realty presents Rock & Restock
our affordability problems may be here to stay? The best that experts can say right now is that “we’re working on it.” RL
Real Estate News & Notes REAL Trends recognizes RE/MAX up-and-comers Thirty-eight RE/MAX offices across Texas – two in the greater Austin area - have been singled out as among the industry’s elite brokerages, based on transaction side closings during 2017. The REAL Trends Up-and-Comers list recognizes top brokerages in the production category just below the firm’s Top 500 classification, the hallmark category for maximum annual sales. “These are the offices that are currently
producing between 500 and 1,898 transactions annually, and who are on a trajectory to be ‘King of the Hill’ in the near future,” said Texas region vice president for RE/MAX Dana Tuggle. “They are doing all the right things, providing exceptional consumer service, exemplary agent training & support and contributing to their community and local market growth. We’re very proud of their work that has garnered this prestigious industry recognition.” RL
Recently recognized Austin area RE/MAX Brokerages include: Office Name
Transaction Sides
RE/MAX 1 Cedar Park
993
RE/MAX Capital City Austin
781
To contact these offices, or locate any of 285 RE/MAX offices and over 5,000 RE/MAX agents in Texas, visit www.remax.com.
Submission Guidelines Submit photos, press releases and calendar items
to naomi@myrealtyline.com. All photos must be at least 300 dpi and include a caption with first/last name, company affiliation and a short description. Press releases must be fewer than 300 words. Submission items will be included as space allows. Would you like us to cover your event? Email us at naomi@myrealtyline.com to check availability.
Pure Gold Realty presents the 13th annual Rock ‘n’ Restock benefit concert featuring DJ Mixer Rogers and three of Austin’s favorite musical artists: Tameca Jones, Shy Beast and our first-time ever top-secret headliner on August 23 at The Belmont. All ticket proceeds benefit Central Texas Food Bank and Black Fret. Some 14 years ago, Chad Goldwasser of PURE GOLD REALTY had the idea to create an event that would bring together clients, friends, peers and our Austin community to celebrate Austin music and give back to the city that makes life so awesome for all of us! ROCK ‘N’ RESTOCK was born in 2004, bringing together music and community in an effort to restock the shelves of the Central
Texas Food Bank. Past support has allowed Goldwasser and his company to donate more than $100,000 to the CTFB. Rock ‘n’ Restock has consistently brought out some of Austin’s finest and most talented musicians like Shakey Graves, Bob Schneider, Ian Moore, Grupo Fantasma, Bright Light Social Hour and Alpha Rev. We have an incredible line up this year with Tameca Jones, Shy Beast and our first time ever top-secret headliner at one of Austin's most beloved venues, The Belmont, located in the heart of downtown Austin! Tickets are available for a $25 donation at rocknrestock2018.eventbrite.com. Ticket proceeds go directly to CTFB and Black Fret. This event always sells out and space is limited, so buy your tickets today! RL
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N a t s i o a n x a e l T T t it le e L
e t i n g I
Your Real Estate
Marketing This July
texasnationaltitle.com/node/269/tools/brochures We take great pride in where we live and what we do! That’s why TNT has created an online library of marketing pieces to amaze and educate your Real Estate customers!
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Marketing Piece Categories
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