Julie Nelson

Austin: "Safest of Big Texas Cities," CQ Press (November, 2008)

CQ Press analyzed 2007 crime statistics for all U.S. cities with a population of 75,000 or more. Austin took the No.199 spot among the nation's largest cities in terms of criminal activity. For comparison, San Antonio is the 233^rd safest city; Fort Worth ranks 243; Dallas is 352; and Houston is 338. Kudos to Austin's neighbor, Round Rock, for being the 19^th safest city in the country.

Austin: "Best Sports City" - No. 31, Sporting News (October, 2008)

Austin jumped to No. 31 in Sporting News' 2008 list - a dramatic improvement from No. 57 on the 2007 list. The Best Sports City rankings looked at the 12-month period from October 2007 to October 2008, and are based on point values assigned to various categories for each city, ranging from won-lost records, postseason appearances, number of teams and attendance.

Austin: "Most Sustainable U.S. City" - No. 13, SustainLane.com (September, 2008)

The online source of articles and recommendations about green living ranked 50 cities based on a variety of criteria, including water and air quality, local food sources and availability of public transportation. Austin received high marks for its air quality, green building standards, energy and climate change policy, planning and land use.

Austin: "America's Favorite Cities," - Travel+Leisure (September, 2008)

Austinites get high marks just for being ourselves: we came in 2^nd place for friendliness and athleticism, and 3^rd place for intelligence and attractiveness. The city also has great bands/live music, and a buzzing singles/bar scene, which ranked 2^nd and 4^th, respectively.

Austin: "Best City to Live," - No. 6, Kiplinger's Personal Finance (July 2008)

Factors in choosing the best 10 cities included population growth, income growth, job growth, percentage of workforce in the creative class (workers, such as engineers and entertainers, that inject both economic and cultural vitality into a city and help make a vibrant place to live), quality of jobs and cost of living.

Austin: "Best Cities for Clean Drinking Water," - No. 2, Forbes (April, 2008)

Data from consumer confidence reports provided annually by community water systems was compiled and examined by University of Cincinnati researchers. In its "United States Drinking Water Quality Study Report," the Austin region was among the top 10 metropolitan statistical areas for lowest levels of lead, turbidity and haloacetic acid.

So we held the class "Shacking Up: Tips For Non-married Persons Buying a House Together in Texas" Wednesday at the Keller Williams Lake Travis (Austin, TX) Market Center and wanted to follow up with a few notes. It was a panel discussion including a Realtor (me), a lender (Jan Hill, WR Starkey Mortgage) and an attorney (Latra Szal, Gracy Title).

First, and keep this in mind if you teach on this topic or any topic that gets legal or into tax discussions, that this topic can vary significantly by state and the individuals situation and here's the big ol disclosure: As licensed Realtors, financial advisors, mortgage brokers, we cannot give legal advice. We encourage you to discuss the details of your situation with appropriately licensed attorneys, financial and tax advisors.

A few point to pass on:

- Define Non-married Persons - this can be a gay couple, two friends buying property together, a mother/daughter team, a straight engaged couple not yet married but purchasing before they get married

- Even if the non-married couple puts various legal documents (a will, specifically) in place to address how the property would be handled in the case of break-up or death, there still may be a capital gain situation ... you may think that the property will just go to your partner because that is your intent and you may very well have thoroughly covered that in your professionally drafted will, but there still may be a capital gain situation. Talk to your CPA.

- Handwritten will vs. Professionally drafted - your family may have approved of the relationship while you were alive because they were polite, but now that you're gone (God rest your soul) they are behaving differently ... people behave badly in times of grief (and when money is involved). The point: make your will as uncontestable as possible.


See the following link for the original post: http://activerain.com/blogsview/868766/Shacking-Up-Tips-For-Non-married-Persons-Buying-a-House-Together-in-Texas

We are working on getting this class set up for MCE credit. Stay tuned.

I am teaching a class tomorrow (Wednesday, Jan 7 ... noon) at the Keller Williams Lake Travis market center on working with non-married clients. It is a panel discussion that includes a lender and an attorney. We teach this class on an ongoing basis to non-married buyers. Here are some things we think you and your clients should know:

Gay or straight, doesn't matter. Two "non-married" persons purchasing a property together in Texas need to know a few things about owning that love shack (or investment shack). Primarily, co-ownership does not necessarily convey the same rights as with a married couple. Many of these rights should be specifically created at the time of purchase of the home or shortly thereafter with appropriate legal documents such as a will.

This article is not intended to scare but it is scary how many non-married couples own property together without the appropriate legal documents in place to protect themselves in the case of death, disability or separation. Lovely topic, we know.

Did you know that if you own property with your friend, steady, lover, partner, college roommate, whatever non-married person you like and he or she dies without the appropriate and challenge-proof legal documents in place, that you now, more or less, own half of that property with their heirs? Oh joy. You may love the family to pieces but do you want to be in a business relationship with them?

What are your intentions if one person wants out? One person needs to move out of state for a new job? You break up? Or there is a death or disability. In the case of partners, is it the intention for the surviving person to keep the house, take over the full responsibility of the loan or does the deceased's heirs now own half the house?

You could end up putting yourself in a position where you may have to refinance to buy out the other person's family at today's market value and mortgage conditions or be forced to sell the home if you do not qualify for the new loan?

If you assume ownership of the property upon the death of the other co-owner, you may potentially have to address probate, inheritance challenges, inheritance taxes or risk the mortgage being called due. We recommend legal counsel at the time of purchase or shortly thereafter to help you avoid these possibilities.

So a little advice when purchasing property:

• Talk. Talk about wills and estates and what-ifs. Call it a pre-nup if you wish, but have an understanding and, best, an actual agreement in writing.

• Ask your agent to put you both on the contract even if just one of you is on the note. It will help get the ball rolling in the right direction. Some lenders will allow this, some will not. Consult with your lender and Realtor to assess your best approach.

• Ask your lender and title company about Joint Tenancy With Rights of Survivorship (JTWROS). Many lenders will not permit them, especially if just one of the partners is on the Note. Sometimes you'll have a choice, sometimes not but you should ask.

• On tax benefits and who takes what, part or whole, talk to a good CPA for guidance.

We recommend working with Realtors, lenders, attorneys, tax advisors and title companies who are well-versed on working with non-traditional couples, non-married persons as this information is commonplace for them. A professional who is not may not understand these nuances and may waive them off as not important.

Let's take care of ourselves and our relationships. Legally sound home ownership is sound business.

Disclaimer: As licensed Realtors, financial advisors, mortgage brokers, we cannot give legal advice. We encourage you to discuss the details of your situation with appropriately licensed attorneys, financial and tax advisors.

Have you ever wondered?:
            
       What is the supply of homes in my neighborhood?
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The Nelson Project has the tools and experience to ensure a hassle free transaction!  The market snapshot system allows our client's to get up to the minute market statistics in their areas or areas they may be interested in purchasing in.  
            
           

So, SoCo (South Congress) has become commonspeak in Austin, TX. SoLa (South Lamar) is becoming commonspeak, kind of. The latest to surface (I really like this one) is SoSo (South South Austin).

Here are my recommendations (some existing, some new, I believe) to add to the list of Austin location cool-speak:

Midtown - already exists, runs loosely north of 24^th to loosely 2222

MidMo - mid Mopac, of course

NoLa - north Lamar, I'd say north of 183 and the No, besides north, may suggest do not go there after dark

It gets better ...

NoMo - north Mopac, of course, north of 2222 up to Braker'ish

NoNoMo - north Mopac above Braker

NoNoNoMo gets you onto the toll road and Pflugerville

Or perhaps NoNo - that's north north, of course

I believe I will pass this on to my favorite SoSo contributor, Patti P, to see what her inspired mind creates. My neighborhood, you ask? NoMo.