Bastrop Homes Newsletter

Ann Van Zandt, REALTOR, ABR, GRI

(512) 629-3081     ann@bastrophomes.com     www.bastrophomes.com

December 2011

Hi! Wow, what a couple of months! First off I'd like to extend my sympathy to all of the fire victims. My heart goes out to each of you. I know that no amount of money can replace the precious things lost in the fire. Thank goodness we only lost 2 lives in the fire. It truly had to potential to be much worse. Which leads me to a huge Thank You to ALL of the people who put their lives on the line to save homes and lives. We also can't forget all of the wonderful volunteers, both local and from afar who descended in the aftermath to help. I've never had the pleasure of experiencing first hand the kindness and generosity exuded during these times. It was truly heart-warming. As a Realtor, I was astounded at the giving ... people leaving necessities in their homes upon selling, donating furniture, clothing, tv's, renting empty houses, etc. For those of you that I was able to help during the aftermath, thank you .... it was a true pleasure being able to do something to help.

After the fire every Realtor worked overtime to find the newly homeless someplace to hang their hat, be it permanent or temporary. Which is one of the reasons there has been a lapse in the newsletter. I am working hard to get back on top of business now and if you haven't heard from me recently, you should soon!  

October figures look great! Of course, they are affected by the fire, but Austin and surrounding areas also saw increases and the nation saw an index rise of 9.2% (see article links below). 

Buyer's Corner

Buyers, It's still a buyer's market, but if the sales figures shown below hold, that all may change in the coming year. We're still experiencing historically low interest rates, and getting a loan is really not the horror story you keep hearing on the news. In fact, I now have a lender who can finance an FHA One Time Close Construction Loan! That means 3.5% down, only pay closing costs once and have your home financed before it's built with regular draws to the contractor. In addition I have another lender who can finance single-wides (almost unheard of!). You can check your own credit scores without getting a "ding" on your credit. Go to one of the websites that offer to show you your scores (not all of them provide you with the scores - and make sure you're getting all 3). IdentityGuard is a good one. You should be able to get them for a small fee ($7 or so), or even get a free 30-day trial and then cancel it. Look at the 3 scores, throw out the lowest and the highest. The Mid-Score is what will be used and it needs to be above 640 in most cases, but I do have lenders for as low as 580! The better your score the better your interest rate. You can print out a copy from each of the 3 credit report bureaus and call each one to make corrections to errors such as misspelled names, incorrect address, phone numbers, employers, etc. This by itself will raise your credit score dramatically. If there's any negatives, work on getting them off, or atleast paid. I've seen major jumps in scores (my own!) just by doing this - it's a pain, but well worth it! 

Seller's Corner

Seller's, we had a buying frenzy recently that took a lot of homes off the market. Unfortunately, we also had a lot of "fence-sitters" who were waiting to list their home that decided (and rightfully so), that this was a good time to list. So, our inventory is still up and still proving to be a very competitive market. However, the good news is we've seen a 12% increase in home prices in October, a direct effect of the fire. It is sill down 5.3% from a year ago, but these new "higher sales" will prove to be the "comps" that are used to value your home and should prove to be a good foundation for our economy improving. See the links at the bottom of the page, there's some great news there about the sales both locally and nationally increasing. 

While the frenzy has calmed, there are still buyers (both fire victims and not) actively looking. While we will experience a slow down over the holiday, conversly it also provides a good time where both husband and wife have time to get out and look. Make sure your home is show-ready and competively priced.

We are still in a buyer's market, but if the charts and figures shown here are any indication, things should be turning around in the near future. We're on the upswing, finally! 

New Homestead Law Now in Effect  

(RECON, 09/02/2011)  – A state law that took effect on September 1 changed proof of residency requirements for homeowners applying for the property tax homestead exemption.

The new law requires applicants to provide a copy of their Texas driver’s license or state ID card and vehicle registration receipt. The documents must show the same address as the property for which the exemption is requested.

Applicants who do not own a vehicle must provide a copy of a utility bill with the correct address. They must also provide an affidavit stating he or she does not own a vehicle.

The new requirements also apply to applications for the over-65, disability, disabled veterans, homeowner’s surviving spouse and manufactured (mobile) home exemptions. They do not apply to homeowners who already have homestead exemptions.

Does Your Home Have a Carbon Monoxide Detector?

Now that winter is upon us and we are using heating appliances, don’t forget that if you are using a gas or propane furnace, a carbon monoxide (CO) detector is a must.  Carbon monoxide is a colorless, odorless, poisonous gas that forms from incomplete combustion of fuels, such as natural or liquefied petroleum gas, oil, wood or coal. This can be produced by many of our home’s appliances.

Potential sources of Carbon Monoxide- Are your Home’s Appliances in Good Working Order?

Any fuel burning appliances which are malfunctioning or improperly installed in your home can be a source of CO, such as:

Ø  Furnaces

Ø  Stoves and ovens

Ø  Water heaters

Ø  Dryers

Ø  Room and space heaters

Ø  Fireplaces and wood stoves

Ø  Clogged chimneys or flues

Ø  Cars running in a garage; always open the door before starting the automobile

 Health Effects in Healthy Adults

Ø  Headache, fatigue, nausea, dizziness

Ø  More severe effects of the above which can be life threatening  within 3 hours

Ø  Convulsions, loss of consciousness and death within three or more hours

CO detectors can monitor exposure levels, but do not place them:

Ø  Directly above or beside fuel-burning appliances, as appliances may emit a small amount of carbon monoxide upon start-up;

Ø  within 15 feet of heating and cooking appliances, or in or near very humid areas, such as bathrooms;

Ø  within 5 feet of kitchen stoves and ovens, or near areas locations where household chemicals and bleach are stored (store such chemicals away from bathrooms and kitchens, whenever possible);

Ø  in garages, kitchens, furnace rooms, or in any extremely dusty, dirty, humid, or greasy areas;

Ø  in direct sunlight, or in areas subjected to temperature extremes. These include unconditioned crawlspaces, unfinished attics, un-insulated or poorly insulated ceilings, and porches;

Ø  in turbulent air near ceiling fans, heat vents, air conditioners, fresh-air returns, or open windows. Blowing air may prevent carbon monoxide from reaching the CO sensors.

Do place CO detectors:

Ø  within 10 feet of each bedroom door and near all sleeping areas, where it can wake sleepers. The Consumer Product Safety Commission (CPSC) and Underwriters Laboratories (UL) recommend that every home have at least one carbon monoxide detector for each floor of the home, and within hearing range of each sleeping area;

Ø  on every floor of your home, including the basement (source:  International Association of Fire Chiefs/IAFC);

Ø  near or over any attached garage. Carbon monoxide detectors are affected by excessive humidity and by close proximity to gas stoves (source:  City of New York);

Ø  near, but not directly above, combustion appliances, such as furnaces, water heaters, and fireplaces, and in the garage (source:  UL); and

Ø  on the ceiling in the same room as permanently installed fuel-burning appliances, and centrally located on every habitable level, and in every HVAC zone of the building (source:  National Fire Protection Association 720).

In summary, carbon monoxide is a dangerous poison that can be created by various household appliances. CO detectors must be placed strategically throughout the home or business in order to alert occupants of high levels of the gas.

Steps to take as a Home Buyer -

Ø  Ensure that you are hiring a qualified, thorough Home Inspector.

Ø  If recommendations are made, make sure you follow them. Some of these are important as they may affect the health and safety of the occupants.

If you don't have a Carbon Monoxide detector.... get one!

     Home Inspection Service   
     Dianna Burley
                Professional Inspector
TREC #6847
   512-585-4610

For more information visit D&S at:    www.dshomeinspection.com

Other Articles of Interest:

Pending Homes Sales Jump in October (Nationally)

Bastrop State Park Soft Opening

Walmart 150,000 sf Stores Rolling into Elgin, Kyle and Manor

Out of the Ashes, a jump-start to Bastrop Economy