HOW A MORTGAGE PAYMENT WORKS

Generally, your mortgage payment consists of PITI - principal, interest, taxes and insurance.

If you choose to escrow, you allow the mortgage company to collect from you 1/12 of the annual taxes and insurance on the home every month as part of your payment. When the tax or insurance bills come due, the mortgage company pays those bills for you. Easy.

You may choose not to escrow and be responsible for saving and paying those bills yourself. During the year you could be collecting that money in an interest bearing account.

To decide which is best for you, consider whether you are the personality type to be organized and on top of it or if it's better to have someone else take over the responsibility for you. Just be sure to let your mortgage company know what your plans are at the beginning of the loan process.

Accredited Buyers Representative  

If you have any other questions you may post here or email me at robin@robinscottrealtor.com

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
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DO YOU WANT TO SELL YOUR HOME?

Call an expert. Call me. I'm a Certified Residential Specialist (CRS) and I can help you from staging your home to closing the sale. Visit my Web site or email robin@robinscottrealtor.com or call me at 512.589.7988.

Outside the Austin area? I can find and refer you to a CRS in your area.

My business is based on referrals. If you know someone who needs a REALTOR®, ask them if you can provide me with their contact information so I can contact them and be sure to include your information so I may send a Thank You.

FOR A FREE COMPARATIVE MARKET ANALYSIS ON YOUR AUSTIN AREA HOME, CALL ROBIN AT 512.589.7988 OR EMAIL:robin@robinscottrealtor.com

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
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WANT TO MOVE TO AUSTIN?

If you're thinking of relocating to Austin, email me or give me a call. I'd love to provide you with the kind of information you'd like to help with your decision. I can tell you about outdoor recreation, sports, culture, museums, shopping and job opportunities.

Did you know that Austin is one of only 14 cities in the US to have a symphony, ballet and opera and also calls itself "the live music capitol of the world" with such internationally renowned annual venues as Austin City Limits and SXSW?

If there is something specific you'd like to know about, let me know. I can address it on this Blog.

Most frequently asked question by people relocating is "What do people in Austin complain about the most?" The answer is "Traffic." And that is the only complaint I hear people make about Austin.

Contact me at 512.589.7988 or email robin@robinscottrealtor.com

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
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PLANNING TO SELL YOUR HOME?

I want to be your REALTOR®. Below is a list of the things I do to market your home:

• put a sign in yard and lockbox on door
• provide advice on preparing to sell
• have a professional photographer photograph your home for marketing
• create color flyers for the interior of the house
• send an email broadcast to REALTORS, client & prospect database
• post on ABOR multiple listing service the most important marketing source
• post on austinhomesearch.com
• post on REALTOR.com
• post on robinscottrealtor.com
• post on robinscottrealtor.blogspost.com
• post on tourfactory.com
• hold open house

For an appointment for a presentation of my services please call me at 512.589.7988

FOR A FREE COMPARATIVE MARKET ANALYSIS ON YOUR AUSTIN AREA HOME, CALL ROBIN AT 512.589.7988 OR EMAIL:robin@robinscottrealtor.com

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!

AUSTIN AREA MARKET TRENDS

According to the Austin Board of REALTORS, existing-home sales have dipped for the fifth straight month. The "fall-out" front he national mortgage troubles seems to be considered the culprit. It is still believed that the market is healthy due to a strong job market, income and population growth.

WHEN PURCHASING NEW CONSTRUCTION

In the Austin area, builders expect to pay your REALTORS® commission and usually won't reduce the price of the home by the commission amount although they may negotiate on the price. Ask your REALTORS® for help in negotiating the price. Remember, the friendly sales person in the model home represents the builder, not you. Take your REALTORS® with you. He/she is there to protect your best interests and guide you through the process.

Also, keep in mind that the property taxes are based on unimproved property (before the house was built.) Once you purchase, the property will be reassessed and the taxes will go up. Be prepared by saving enough to cover the shortage in your escrow account and the increase for the following year.

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
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HOUSE FOR SALE IN PFLUGERVILLE

Two-story home on cul-de-sac in Pflugerville for $160,000. Built in 2001 by Pulte, this 4 bedroom, 3.5 bath, 2-car garage is the home for you. There are 2 living areas, 2 dining areas, 2 masters, garden tub, separate shower, security system and more. For more information call Robin Scott/agent at 589-7988 or visit http:www.robinscottrealtor.com and select "featured listings" from the menu bar.

FUN THINGS TO DO IN AUSTIN

1. Watch the bats fly from under Congress Ave. bridge. 416-5700 x3636
2. Tour the State Capitol. 463-0063
3. Enjoy the nightlife on 6th street.
4. Swim in Barton Spring Pool. 68 degrees F. 478-0098
5. Enjoy the water sports and restaurants around Lake Travis. 263-3188
6. Ascend 99 steps to the top of Mt. Bonnell. 478-0098
7. Explore Austin’s 12 National Register Districts. 478-0098
8. Jog, bike, picnic & play at th 351 acre Zilker Park.499-6700
9. Take the kids to the interactive Austin’s Childrens Museum. 472-2494
10. Tour the University of Texas.

INFORMATION ON PAYING THE MORTGAGE

Rents are paid in advance and mortgages are paid in arrears. If you are buying a home, your first payment is not due until the 1st of the month after you've owned the house for one month. For example: if you close on June 20th, your first payment will be August 1st. It feels like getting a month free.

Mortgage payments are due on the 1st and late on the 15th. That doesn't mean you should wait until the 12th to send in your payment. To insure the highest credit rating, make sure your payments are in by the 1st.

To pay down your mortgage quicker, you may add $50 or more to each payment but be sure to write a separate check and mark it to be "applied to the principal. " The rule is that if you add $50 with each payment, you'll pay off your loan 15 years sooner saving a lot of money on interest.

Your mortgage company may offer a program that allows you to divide the payment in half and pay twice a month to pay down the loan fast. They charge small processing fees but you don't have to pay them extra fees and you can pay down faster at your own pace by using the method in the paragraph above.

First time home buyers: Did you know that the interest on the loan and the property taxes are tax deductible! Since most of your payment in the first 5 years is interest, that's a huge savings.

FOR A FREE COMPARATIVE MARKET ANALYSIS ON YOUR AUSTIN AREA HOME, CALL ROBIN AT 512.589.7988 OR EMAIL:robin@robinscottrealtor.com

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!

WHAT DEFINES THE TERM REALTOR

All REALTORs® are real estate agents but not all real estate agents are REALTORs®. In Texas, to be a real estate agent, one must fulfill educational requirements, pass a difficult licensing exam administered by Texas Real Estate Commission and be granted a license by the State of Texas. The term “REALTOR®” is a registered trademark reserved solely for active members of the National Association of REALTORs®. A REALTOR® must swear to a higher code of ethics and this membership grants access to the local Board of REALTOR® and the multiple listing service (MLS.)

FOR A FREE COMPARATIVE MARKET ANALYSIS ON YOUR AUSTIN AREA HOME, CALL ROBIN AT 512.589.7988 OR EMAIL:robin@robinscottrealtor.com

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!

HOW TO SELL A HOME WITH PETS

Now more than ever this information is important because there are so many homes on the market, your home must shine above the rest to be noticed. Anything making it difficult for the buyer to imagine him/herself in the home will prevent you from getting an offer.

Crate them, board them or remove them at every showing. It shouldn't be the buyers or agents responsibility to make sure your cat or dog doesn't run out the door. And buyers can't see the condition or assets of the backyard with dogs in the back. Plus many buyers are afraid of dogs or adverse to cats and you're limiting your market by excluding these opportunities. This isn't my personal opinion about pets. I'm just being honest with you about how buyers react.

PROPETIES REDUCED!

1. FOR SALE - 3910 Hyridge - Reduced to $369,000
2000 sq.ft. 4/3/2 60's contemporary in the Steck/Mesa area. To see photos more photos and information visit http://www.robinscottrealtor.com and select "Featured Properties."

2. FOR LEASE - 15737 Thatcher in Davis Springs off Parmer just north of 620. 4/3/3 Elegant home for $2050/mo. Pool and golf. To see photos more photos and information visit http://www.robinscottrealtor.com and select "Lease Properties."

3. FOR LEASE - 7122 Wood Hollow. 2-story condo in gated community with pool near MoPac and Far West. 1/1/1 with refrigerator and full-size washer & dryer. $995/mo. To see photos more photos and information visit http://www.robinscottrealtor.com and select "Lease Properties."

My Opinion of the Austin Area Market

It appears we are experiencing a slow-down. I think all the bad press from around the country is effecting our market. We have a strong employment situation so I don't think prices will fall too far or for too long but we have way too much inventory and perhaps it's a market correction.

AUSTIN AREA MARKET STATISTICS FOR SEPTEMBER

All Single Family Sales 2007
1,824 DOWN 22%

All Active Single Family Listings 2007
9,979 UP 22%

Single Family Median Price 2007
$182,500 UP 9%

Single Family Pending Sales 2007
1,695 DOWN 27%

IS IT A BUYER'S OR SELLER'S MARKET

In General if there are less than 6.5 months of inventory it's a sellers market. If there are more, it's a buyer's market. Because neighborhoods vary, it's best to evaluate the market in your neighborhood. With a very simple absorption rate formula, your REALTOR® can determine how long properties are on the market in your area and what the best price approach should be.