Congratulations on Your Home Purchase to Chuck and Angelica!

What a great find! Chuck and Angelica were looking for something very specific and we found it. There are bidding wars on most properties in Austin and this was the 3rd house we made an offer on and on this one our bid was the one accepted. Now Chuck and Angelica are moving to their new home.

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.

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The House didn't Appraise!

What now? In this HOT real estate market, this is a question buyers and sellers are asking.

When a buyer gets a mortgage loan, the lender usually requires an appraisal so they can be sure they are not loaning more than they can recover if the buyer defaults. That appraisal is based on several factors and calculations and is the last word on the homes current value.

After the contract has been accepted and receipted and the appraisal comes back for a value less than the contract price; what happens? The buyer has three options:

1. The buyer can accept the home at the original agreed upon price but must make up the difference between the contract price and the appraised value in cash.
2. The buyer can terminate the contract and in most cases in Texas receive his/her earnest money back.
3. The buyer can negotiate with the seller to reach a compromise split determining a new price and the buyer will have to come up with that difference in cash.

In times past, the seller would have to come down to the appraised value because no one would buy his home for more than value but in today's market in the Austin area, there is a line of people waiting to buy any property and if this buyer doesn't want to pay more, someone else will.

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

Search for homes through Austin MLS
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Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.

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Client Testimonial from Kevin 2013

"Robin was very knowledgeable and helpful. She found us exactly what we were looking for. I've already referred a friend to her."

Thanks Kevin! A first-time homebuyer and another happy client just purchased this home in Cedar Park.

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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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Austin Market Stats - June 2013

THESE ARE THE STATS THAT CAME OUT IN JUNE 2013 for APRIL 2013:

• 2,563 – Single-family homes sold, 32 percent more than April 2012.

• $227,250 – Median price for single-family homes, eight percent more than April 2012.
• 50 – Average number of days single-family homes spent on the market, 19 days fewer than April 2012. 

• 5,488 – Active single-family home listings on the market, 25 percent fewer than April 2012

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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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MUD, Municipal Utility District

A Municipal Utility District (MUD) is a political subdivision of the State authorized by the Texas Water Code (TWC) to provide water, sewage, drainage and other services within the MUD boundaries.

How is a MUD created? A majority of property owners in the proposed district (possibly the developer) petition the Texas Water Commission to create a MUD.After the TWC evaluates the petition and holds a public hearing, it either approves or denies the petition. When approved the TWC appoints five temporary members to the MUD Board of Directors until an election can be held to elect permanent Board members who can authorize bonds and taxing authority for bond repayment.

How does the MUD work? the publicly elected Board manages and controls all of the affairs of the MUD under the supervision of the Texas Water Commission. The Board writes policies in the interest of the of the residents and may make and enforce any fees or taxes to provide services.

Can MUD’s provide parks and pools? A MUD can provide water, wastewater, solid waste collection and disposal, conservation, irrigation, electrical generation, firefighting and recreational facilities which include parks, pools and sport courts.

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

Search for homes through Austin MLS
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Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.

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Rattan Creek in Austin

This is a view of one of the playgrounds. I live in an area of northwest Austin which was originally called Milwood (and still so in the tax records) but has been renamed Rattan Creek because that is the name of the creek that runs through it, the neighborhood association and the park.

It is located just across the Travis county line in Williamson County and is not really in the coty of Austin but in a Municipal Utility District (MUD.) (See my next post about what a MUD is.) Rattan Creek is between Parmer and US183 and McNeil and Anderson Mill.

The location is great because we are close to major employers like Apple, Freescale, Paypal and more. We are between Gateway/Arboretum or The Domain and Lakeline Mall. Generally, without traffic 20-25 minutes to downtown and with traffic 30-35 minutes.

There are TWO parks. One runs up the greenbelt with Rattan Creek and has a crushed granite hike/bike all the way to the area with the playground, tennis, year-round heated pool, basketball, soccer fields and volleyball. There is even a Williamson County sub-station a community center there. The other has a great playground, covered picnic/party area, soccer and also a hike and bike.
The schools are in the Round Rock ISD. Pond Springs Elementary, Jollyville Elementary, Deer Park Middle School, McNeil High School. You can check the link for information but to my knowledge the schools are highly rated.

Rattan Creek does not have a mandatory HOA but the volunteer HOA provides a newsletter very month with information on neighborhood events, there is an architectural control committee, a Web site, a book club and now even a neighborhood social site where neighbors can share information.
We built our house in 1990! I can't believe we have been here so long but it's just such a great place to live we can't find a reason to leave.

If you would like to live in Rattan Creek too, call or email me. I'd can show you around and help you buy a house. If you want to sell your house in Rattan Creek, I'm an expert on marketing the area.

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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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We'll See What the Judge Has to Say

The seller decided she was angry at her REALTOR and refused to come to closing! What? Yes, she didn't come to closing.

She signed a legally binding contract. Oh, did I mention she was going to net over $60,000, that it was in deplorable condition and she didn't even live there.

It was hard to find a home in the neighborhood my buyer wanted at a price he could afford and he was willing to accept a house that didn't even have a ceiling in one of the bedrooms. Now he has paid for the earnest money which see probably would also refuse to release, the option fee, the inspection, the appraisal and the survey. He wants this house.

The attorney filed, the seller was served and now we are past the deadline the seller was given to respond. The $60,000 will be diminished by court costs and attorney's fees. Too bad for her. It's been unfair and hard for my buyer too. The contract to sell says in bold type that it is a legally binding agreement. Don't sign if you aren't serious.

FOLLOWUP: the result of the first lawsuit was that the Judge awarded the house to the buyer with damages and she had to pay his attorney fees and court costs but the seller didn't show for the court date. The Judge held her in contempt and issued a warrant for her arrest. The buyer was allowed to take possession of the property which he did. Of course the buyer couldn't be found and we couldn't get a payoff from the mortgage company, close and issue title to the buyer so a second lawsuit compelling to sign was filed. She didn't show for that either so the judge allowed all the paperwork to be changed to the buyers name and we closed. The proceeds are being held by the court for the seller to collect minus court fees. If the buyer ever contacts the title company, they will direct her on how to claim her money.


Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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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Rent vs Buy and More

My June enewsletter is out discussing rent vs buy. It's full of great information this month and every month. If you aren't receiving this newsletter and would like to, send me an email request to be added to the contact list.

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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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I Just Fired a Buyer

Many consumers don't seem to understand that REALTORS are not non-profit organizations and some I've encountered actually believe REALTORS get paid through the company they work for with a salary. No so. We don't get paid to tour, we get paid to close transactions. Hey consumers, would you work for free?

Over the years I've had clients tour so many homes I've wondered if they were ever going to buy and at some point a REALTOR must decide if it's best to cut your loses and terminate the client relationship or keep showing property and hope they will eventually close a transaction.

Because of my many years experience, I sometimes get an intuitive feeling that a buyer can't make a commitment and won't make a cammitment. That doesn't mean that 5 years down the road they won't buy, but the diminishing return on investment of time and expenses is not acceptable.

One hundred homes are too many showings. So, I just terminated a buyer relationship. He felt justified in looking at so many homes and I felt justified in letting him go. I hated to do it because you don't want to create any bad feelings and always wonder if that was the right decision but I'll get over that and a sense of relief will creep in when he is replaced with a committed buyer and that appointment is this afternoon.

Best of luck to terminated buyer and the REALTOR who replaces me. I must move on to a profitable relationship.

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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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Austin Energy Recycles Refrigerators

Austin Energy has a great program and perhaps your city does too. In Austin, Austin Energy will pay you $50 for an old, standard size refrigerator (14-27 cubic feet) in working condition. Limit 2 per customer. Next to heating, cooling and water heaters, the refrigerator is a huge energy guzzler. According to an article recently posted in the Austin Energy newsletter, 15 year old refrigerators use about twice the electricity as a new energy efficient model.

So you can earn $50 towards the cost of a new refrigerator, cut your energy costs, conserve energy and Austin Energy is able to recycle 98% of the parts!

For free pick up and to find out about your rebate call 1-800-452-8685.