Dianne Bartlett

Austin Area Home Buyers Get Second Chance at Tax Credit. The home buyer tax credit has been extended through April 30, 2010. Home buyers may find a home and sign a purchase contract by April 30th in order to qualify. Closing may take place as late as July 1st, 2010.

The original $8000 tax credit applies to first-time home buyers and buyers who have not owned a primary residence the previous 3 years. The new bill adds a $6500 tax credit for current homeowners purchasing a new principal residence who have used the home being sold as a principal residence for five consecutive years within the last eight.

Wow! So, what does this all mean? Anyone can buy a primary residence and get money back from the government! Remember 10 years ago in Austin when buyers could ask for a $8000 "decorating allowance" from the seller at closing? Buyers walked away from closing with money in their pocket back then, and with the tax credit, they can do the same thing again. What buyer couldn't use an extra $6500-8000 when they purchase a home? The money could be used for decorating, landscaping, updating or simply to help out on the monthly payments.

What is another reason to buy RIGHT NOW? Interest rates are low, low, low! Did you know that a 1 % increase in interest rates could cost a home buyer over $45,000 in extra payments over the life of a $200,000 home loan? Interest rate increases also cause home buyers to lose a chance to buy in a higher price range because they may no longer qualify for the home that they want.

The home buyer tax credit won't last forever nor will low interest rates. With over 8500 homes to choose from, Austin area home buyers are lucky to have a second chance to buy.

Click here to search for a home now.

Investment Opportunity for Hudson Bend Home Buyer! How many homes can you find for less than $200,000 in the coveted Lake Travis Hudson Bend area? According to our multiple listing system today, there are only 17 homes for sale in the entire 78734 zip code that are less than $200,000! There are only 8 homes listed for less than $160,000 in 78734 as of today, AND there is only ONE home less than $200,000 in Hudson Bend.

4503 Weletka Drive, Austin, Texas 78734 has just been listed for $157,000 - a true investment opportunity. The property is over half an acre and conveniently located within minutes of Lake Travis and less than 20 miles to Downtown Austin. This home was originally located in Central Austin just south of Disch Falk Field. The 1940's original was moved to its present location and refurbished to preserve its vintage charm. The lot is wooded and private with two convenient out buildings for plenty of storage. Look out every window to see hill country views or wooded groves.

This home has two bedrooms and two baths. The master plus full bath is located on one side of the home, and a spare bedroom plus hall bath are on the opposite side of the house. The original wood floors have been refinished, hard tile has been added to the baths and wood laminate preserves style in the upgraded kitchen. Fixtures reflect an early 1900's vintage, and the master bath includes a claw foot tub and beaded board walls. The living area is extra large, and the windows have been recently upgraded to wood-clad, energy efficient with easy-to-care for 2 inch blinds. Keep warm in the winter with a wonderful wood-burning stove!

The kitchen has Corian counters with a porcelain sink. The dishwasher is recent, and the range is a smooth-top, convection oven. You'll appreciate all the shelving and cabinets as well as multiple closets throughout the house. There is an additional over-sized mud room plus an enormous utility room at the back of the house which all could be converted to an additional bedroom and bath or more living space if desired. The flexibility of this floor plan contributes to its value as an investment opportunity.

The home is located in the Travis Landing 2 neighborhood in Hudson Bend. Children in this area attend the prestigious Lake Travis schools.

To see all homes for sale in 78734, click here.

Waterfront Home Sellers Welcome More Rain for Lake Travis. More rain is currently falling over the Texas Hill Country which means that Lake Travis may once again be on the rise. The Lower Colorado River Authority (LCRA) is oddly quiet on their web site today, and that sometimes means they really don't know if the raining falling now will make a difference or not. In my experience, when LCRA is quiet, it can mean a several feet rise on Lake Travis when rain is falling in the upper watershed as it is right now. Last week's rains brought a 13 foot rise in elevation and brought the lake level to approximately 642' msl. That means the lake is still 39 feet below full (681' msl is full). Right now the lake is at 643' msl and appears to be rising as I look out my window.

The elevation of Lake Travis makes a difference to waterfront home buyers. Many buyers can't imagine what the lake looks like when it's full, especially if they only see the particular waterfront home they are considering when lake levels are at historic lows. Plus, there are so many waterfront homes located in coves that go dry when the lake drops. At 643' msl, most coves are dry, very shallow or hard to navigate. Even the best coves on the lake begin looking ugly at approximately 660' msl. Fearing flooding, some waterfront home owners find comfort when the lake hovers around 670' msl - a level often quoted as "average" by the news media. I personally prefer a full lake at 681' msl. It's the level most boat docks are optimally designed for, and most waterfront property lines fall along the full pool elevation.

Lake Travis waterfront home sellers should always wish for a full lake. Even if a waterfront home is located on the main body and not in a cove, the view is always better when the lake is full. Docks are easier to access, and buyers don't have to use their imagination to determine the full value of living in a particular waterfront home.

Two factors will determine whether or not waterfront home sellers on Lake Travis can have success selling. One is definitely more rain to fill the lake. The second factor is more availability of Jumbo Loans!

Find waterfront home listings here.

Keller Williams Food Drive in Travis Landing Austin Texas is a Huge Success! The Travis Landing home owners donated over 35 bags of food this weekend to the Capital Area Food Bank of Austin. Home owners generously opened up their hearts this past week, allowed me to knock on their doors and accepted a bag to fill with food items for Austin's hungry. The Capital Area Food Bank usually experiences a shortage of food around the holidays when hungry families and children need it the most. Austin area real estate agents at Keller Williams Realty comb their neighborhood streets for donations every year to help collect food and donate it at a time when it's most needed.

When I drove around to pass out the bags, I wanted to speak with as many people personally in order to introduce myself since I'm fairly new to the neighborhood. Plus, I know I'm more likely to donate if someone asks me face-to-face. Hunger in Austin is a bigger problem than many of us know. I just wanted to give this food drive my best effort in order to help as much as possible.

What I found is that Travis Landing residents are the coolest! I met so many wonderful people and saw lots of great landscaping and home decor. Oh, and lots of big dogs, too. About half the neighborhood was home when I walked around Monday afternoon, and I did my best to leave bags on porches of anyone not there. The homeowners' association was nice enough to let me post a sign at the entrance of the neighborhood so that everyone would know what to expect.

Next year, I hope to be a little better organized and do a better job to make it as easy as possible for residents to donate. One thing I learned is that I got a little over-anxious this morning and started picking up bags too early. Afterall, it is Saturday morning! I just wasn't sure how long it would take me.

When I arrived at the church parking lot where the trucks were waiting, several volunteers opened up my Honda Pilot and started unloading. I stayed about an hour and watched several other vehicles come through with their donations. And guess what! I think Travis Landing residents donated the most!

Congratulations and thank you to everyone who participated. I'll see you next year!

Welcome Rains Flood into Lake Travis Texas! Hurricane Rick is hovering over Central Texas right now and has brought the area several inches of rain. The heavy rain has fallen over two important watersheds that flow into Lake Travis. The Pedernales (pronounced Purdanaless for you non-Texans) River rose 15 feet which brings welcome relief to a drought-stricken area. This river flows directly into Lake Travis. The Colorado River also received its fair share of rainfall. The Colorado River creates the Highland Lakes chain, of which Lake Travis is one of the down stream links.

Flood gates are open on the upstream lakes due to area flooding, and that water is now flowing into a very thirsty Lake Travis. The lake level yesterday was 632 feet above sea level, and the lake is predicted to rise one foot per hour throughout today. One news station reported a 12 feet rise by midnight tonight. The other news station said that LCRA (the authority that controls the floodgates) has not finished its calculations on predicted lake levels but is saying a one foot per hour rise will continue throughout the day. The rain continues to fall over the Hill Country as of 6:30 am this morning.

Lake Travis has plenty of capacity for this flood because the lake level is nearly 50 feet below full pool level. Lake area residents and businesses welcome any rise on the lake and would love to see 50 feet of water come on down!

See Lake Travis homes on the market by clicking here.