Tom Bates

Great Deals on Homes for Sale in Eanes ISD Austin
Many of you know that we specialize in selling homes in the Eanes ISD area of Austin Texas. Our unique branding and marketing has helped home sellers in Eanes gain an edge against stiff compitition. Here is a link to our website with tons of information on homes for sale in the Eanes ISD area of Austin Texas.

Eanes ISD Real Estate Eanes ISD Austin real estate is one of Austin's hidden gems. Investors, owner occupants, flippers and builders have been flocking to east Austin for years. With current prices and a healthy inventory of great homes on the market, now is a great time to get in on the action. Here is a great website to find great deals on homes for sale in Eanes ISD.

The "SunFlowers - An Electric Garden" installation on the west side of the Meuller Redevelopment can't be missed from I-35. Designed by artists Mags Harries and Lajos Heder as a sustainable public art installation, the iconic "flowers" also serve as solar panels, and provide shade on a hiking trail that winds through them.

The artists say: "We set out to create something new and fitting for the Mueller Redevelopment and for the whole city of Austin. Sustainable development and environmental stewardship are a high priority here. We decided to put our project to work creating renewable energy, as well as shade and comfort along the bike path. Natural sunflowers process solar energy to grow, ours do it to light themselves at night and to put extra kilowatts of electrical energy into the grid."

We say it's a perfect combination of style and function, that fits nicely with the modern home scene in Austin.

Check it out in person at the Meuller Redevelopment, or learn more here: http://muellersunflowers.powerdash.com/about/

What is an "Attached 1/2 Duplex" and what is a "Condex" vs a Condo?
I recently had someone ask why they saw the MLS list the property type as a "condo" or an "attached 1/2 duplex" when the property was clearly a single family home. Here was my response and what I hope is an accurate, if not quick, overview of an often mis-understood type of property ownership.

I'll try to explain what I (and a few others) call the "condex"
Austin is running out of close-in land and lots to build on. Builders are taking older houses down and building out new construction homes on them. The city of Austin has many building and zoning restrictions that allow only a certain "density" of single and multiple-family housing development. Certain lots are zoned only for a single family residence (what we call a house!), other lots are zoned for duplexes, others for 4-plexes, apartments, etc. The sweet spot in the Austin market for the last couple of years has been designing (mostly with a modern aesthetic) a "duplex" that lives like 2 single family homes. Builders have done this by pushing the envelope in terms of what the City of Austin considers a duplex and what the public really wants to buy and live in (a single family house). From a marketing perspective, a "duplex" is usually a side A and a side B. Investors usually buy them as rent houses, right? But this is different because you are only buying SIDE A or SIDE B...not both. Each side is considered a single family dwelling and while the lot is still platted as one lot, and even though the structure shares a wall and roof, they are surveyed with a division of land (well, sometimes).

What about the HOA and Insurance?
I know you are scratching your head right now. These are legit properties and super popular right now in Austin because the designs are usually modern and it allows families to live close in for a lower price. In a nutshell, these are duplexes, where you buy one side of the duplex and share 2 expenses with the other half: 1. home owner's insurance policy, and 2. maintenance of the shared structure, mainly the roof. Now, insurance companies do not recognize this type of home as described, but they do recognize and underwrite insurance on "condos". SO, the builder hires a lawyer, who drafts the legal paperwork to "condo-ize the duplex" and voila you have a...condex (which is the word I use!). And this is where the HOA part comes into play. The two sides each are given (usually) 50% voting rights in this newly formed, tiny, 2-party HOA. HOA docs are usually very simple and cover how to pay for insurance and maintenance. The only fees are usually those required to pay for the insurance and maintenance.

There is still a lot of confusion in the marketplace
Now, the Austin MLS system and probably 95% of Realtors in Austin have absolutely no idea what I just wrote above! They know "house", "condo", "duplex"...if it doesn't fit in one of those boxes it doesn't exist! As if this needed further complication, the Austin MLS just a few months ago added a property type field called "Attached 1/2 Duplex". In my opinion this isn't perfect nomenclature and certainly most agents in Austin are not using it, still opting to list these properties as "condos". I'm on the fence if I like it or not, but I do use it and hope all Realtors will start to use it. In fact there are only 23 listed as "attached ½ duplex" in Austin right now. Here is a link to them just so you can compare and contrast:
Customer Full - Residential

Here is a link to my website:
Austin condos for sale in Austin

The Bel Air Condos Auction Information:
Hate to see the Bel Air condos go to auction. Some of the best units are in the remaining 25, lots with rooftop decks, lots with views of the park next door, even one that will be sold fully furnished. We will have two agents (including myself) at the auction representing buyers. If you want us to assist with walk-throughs, pricing and bidding, call us.

Here is a link to more information including a pricing table and auction instructions:
Bel Air Condos Auction

We recommend that you do a walk-through of the units ASAP...call 512-413-0870 to schedule your walk-through. If you are financing you need to act quickly since registrations are due Thursday, August 6.

___________________________________________

Tom Bates
Broker, Realtor®
Tergerson Real Estate
tom@tergerson.com
Ph: 512-413-0870
Fx: 512-533-0470
www.AustinModernLiving.com