Bond 77; Alternative Down Payment Funding
Just when it seemed that making use of the First Time Home Buyer Credit was completely gone, Texas introduces the new Texas Department of Housing & Community Affairs (TDHCA) Bond 77 Program. The Bond 77 program is a new Zero Down Home Loan that will assist home buyers with their down payment towards the purchase of a home. It is said that the state of Texas has backed this program with $500 million dollars in funding and should be releasing the program in late May. With this kind of allotment of funds available for the program and an alternative option for down payment, it’s sure to become a popularly sought out program by both first time buyers and existing home owners looking to purchase a home.
There are some Bond 77 details that might be of interest to anyone looking to make use of this program. It should be noted that the interest rate on the loan will be locked for thirty years. All fees will be strictly restricted (this is a good thing for all borrowers). For those looking to gain assistance with a down payment, Bond 77 will provide borrowers with 5% towards the down payment and closing costs. As long as the borrower remains in the purchased home as a primary residence, the borrowers may enjoy not having to worry any form of payments towards the amount assisted with. Availability of this program depends on the number of individuals in the household and on area of the first time home buyers or existing home owners looking to purchase.
The Bond 77 program will not run indefinitely. Funds will be appropriated effectively on a first come first serve basis. As soon as the funds are depleted, the program will cease to exist and terminate.
If you’d like more information regarding Bond 77 or have any questions in regards to Bond 77 or hill country property, Email me at kathystafford17@yahoo.com You may also get more information from the Texas Department of Housing and Community Affairs here.
Saturday, May 22, 2010
Friday, May 14, 2010
Domain is GROWING!!!!!!
Phase II of the Domain: Open for BusinessThe Domain mixed-used project by the Simon Property Group has become one of the most divisive and high-profile development projects in Austin, TX.
The battle over the massive tax subsidies promised to the Domain that were a big part of the decision to move forward with the project in North Austin got quite heated and lead to an intense political battle in 2008.
It's changed the face of mixed-used in our city, has dramatically altered the real estate and retail environment in North Austin, and has brought high-end retail previously unavailable in the South to Austinities spending like crazy despite the recession.
Along with projects such as the Triangle in central Austin, it's changed the local real estate game for good. And just recently, after years in the making, Phase II of the 600,000 square foot Domain project opened its doors on April 23rd.
Read on to learn more about the recent grand opening at the Domain including which retailers are going to be present, and what's to come in the future for the project in 2012 and 2013.
Retail GaloreThe Phase II project and its stores actually had a soft opening back in February, so many shoppers have already grown accustomed to the presence of the new businesses. But not they are all officially open for business.
The HUGE mixed-used property has 136,000 square feet of retail. The biggest players in Phase II are Dick's Sporting Goods, Dillard's, and a large movie theater called Gold Class Cinema.
There's also 438 residential units and about 78,000 square feet of office space. Other national retailers that are now open in Phase II include:
American Eagle Outfitters
Aeropostale
Bath & Body Works
Buckle
Bui-yah-kah
Charming Charlie
Coffee Bean & Tea Leaf, Express
Finish Line
The Limited
Maggiano’s
Payless Shoes
Shasa Collections
Stride Rite
Sushi Zushi
VANS
Yogurt Planet
Zumiez.
The battle over the massive tax subsidies promised to the Domain that were a big part of the decision to move forward with the project in North Austin got quite heated and lead to an intense political battle in 2008.
It's changed the face of mixed-used in our city, has dramatically altered the real estate and retail environment in North Austin, and has brought high-end retail previously unavailable in the South to Austinities spending like crazy despite the recession.
Along with projects such as the Triangle in central Austin, it's changed the local real estate game for good. And just recently, after years in the making, Phase II of the 600,000 square foot Domain project opened its doors on April 23rd.
Read on to learn more about the recent grand opening at the Domain including which retailers are going to be present, and what's to come in the future for the project in 2012 and 2013.
Retail GaloreThe Phase II project and its stores actually had a soft opening back in February, so many shoppers have already grown accustomed to the presence of the new businesses. But not they are all officially open for business.
The HUGE mixed-used property has 136,000 square feet of retail. The biggest players in Phase II are Dick's Sporting Goods, Dillard's, and a large movie theater called Gold Class Cinema.
There's also 438 residential units and about 78,000 square feet of office space. Other national retailers that are now open in Phase II include:
American Eagle Outfitters
Aeropostale
Bath & Body Works
Buckle
Bui-yah-kah
Charming Charlie
Coffee Bean & Tea Leaf, Express
Finish Line
The Limited
Maggiano’s
Payless Shoes
Shasa Collections
Stride Rite
Sushi Zushi
VANS
Yogurt Planet
Zumiez.
Saturday, March 6, 2010
Wednesday, March 3, 2010
Monday, March 1, 2010
Uptown, Downtown, All Around the Town!!!
Links to City of Austin, Round Rock, Cedar Park, etc.
If you want to get to know the Greater Austin area a little better, or if you want to learn a little more about a particular metro area in in the Greater Austin area--this may help. If not, give me a call and let's talk.
City of Austin
City of Bee Caves
City of Buda
City of Cedar Park
Dripping Springs
City of Georgetown
City of Hutto
City of Jonestown
City of Lakeway
City of Liberty Hill
City of Lago Vista
City of Leander
City of Manor
City of Pflugerville
City of Rollingwood
City of Round Rock
Spicewood, Texas
City of Taylor
Thursday, February 25, 2010
FACEBOOK is coming to Austin
Facebook opening 200-person Austin officeAustin Business Journal - by Jacob Dirr Staff WriterFacebook is creating 200 jobs in Austin, thanks to a $1.4 million incentive from the state of Texas.The move will be the first major U.S. expansion outside of Palo Alto, Calif., where the company is headquartered, according to officials. It is investing about $3.1 million to set up operations in Texas, according to Gov. Rick Perry's office.Facebook employs about 800 people. It reported about $50 million in revenue last year.'Facebook continues to grow and Austin, with its deep talent pool, would allow us to hire the high-caliber employees we need to properly serve the people, advertisers and developers that rely on our service,' Facebook Chief Operating Officer Sheryl Sandberg said.Gov. Perry said the new jobs will enhance the Central Texas’ robust technology industry and strengthen the economy.All contents of this site © American City Business Journals Inc. All rights reserved.Link to Article: http://austin.bizjournals.com/austin/stories/2010/02/22/daily44.html
Saturday, February 20, 2010
10 REASONS TO BUY A HOME IN AUSTIN
TEN GREAT REASONS TO BUY A HOME
1. Quality of life – a home provides stability and security for you and
your loved ones.
2. Pride of home ownership – it’s your personal haven and you’re
your own landlord.
3. Historically low interest rates – around 5.5 percent in the U.S.
4. Tax Credit – U.S. government provides a special $8,000 incentive
for qualifying first-time buyers.
5. Appreciation potential – your home investment can grow in value.
6. Equity buildup and debt pay down – homeowners enjoy an
average net worth of approximately $184,000 vs. $4,000 for renters.
7. Leverage – where else can you buy an investment of this magnitude
with 5-10 percent down?
8. Tax deduction advantages – property tax and mortgage interest
write-offs (in Canada, home owners gain a tax benefit upon selling).
9. Tax exemption – up to $500,000 per couple or $250,000 per person
on sale of a primary residence in the United States (no tax upon sale
in Canada).
10. The real cost of renting – at $800 per month, with the average
6 percent rental increase per year, you will pay $126,536 over a 10-
year period but have zero ownership of the property.
1. Quality of life – a home provides stability and security for you and
your loved ones.
2. Pride of home ownership – it’s your personal haven and you’re
your own landlord.
3. Historically low interest rates – around 5.5 percent in the U.S.
4. Tax Credit – U.S. government provides a special $8,000 incentive
for qualifying first-time buyers.
5. Appreciation potential – your home investment can grow in value.
6. Equity buildup and debt pay down – homeowners enjoy an
average net worth of approximately $184,000 vs. $4,000 for renters.
7. Leverage – where else can you buy an investment of this magnitude
with 5-10 percent down?
8. Tax deduction advantages – property tax and mortgage interest
write-offs (in Canada, home owners gain a tax benefit upon selling).
9. Tax exemption – up to $500,000 per couple or $250,000 per person
on sale of a primary residence in the United States (no tax upon sale
in Canada).
10. The real cost of renting – at $800 per month, with the average
6 percent rental increase per year, you will pay $126,536 over a 10-
year period but have zero ownership of the property.
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