Wendy Papasan

Don't miss this exceptional rental property in Apache

Shores. Sunny home with large fenced yard backing to a greenbelt. Open and airy floorplan with large windows and soaring vaulted ceilings. Spacious kitchen with maple cabinets, updated appliances and an oversized pantry. Roomy master with en suite bath and a big walk in closet. Meticulously maintained and freshly painted. Plus a two-car garage, large laundry rooom, wood floors. Community boat dock and pool. This home zones to Lake Travis ISD specifically Lake Travis Elementary, Hudson Bend Middle School and Lake Travis High School.

Known for its beauty and quality of life, Lake Travis is a wonderful place to call home. The Lake Travis School District web site provides detailed information on the schools and community. For information on upcoming events, a photo gallery of the area, and the history of the community is available on the Apache Shores site.

Is now a good time to invest in Austin, Texas? The phone is ringing, if not exactly off the hook, then a little more than usual these days, with investors calling from all over the country asking about investment properties in Austin.

A lot of them call with unrealistic expectations. “I am looking for a property in Central Austin that will cashflow 20% and appreciate at 10% each year. If they have unrealistic expectations, we try to educate them on the ins and outs of Austin’s Central neighborhoods and let them know that for the most part you can get cashflow or appreciation in Austin, but generally you can’t have your cake and eat it too unless you want to put a lot of money down.

That’s not to say that Austin isn’t a great place to invest because it is. We have seen our net worth grow substantially over the last decade and most of that has to do with our real estate investing.

The best news with regard to investing in Austin, Texas is low interest rates, coupled with a ton of inventory and rising rents - make it one of the best times in recent history to invest in Austin. Perhaps the biggest contributor to this is rising rents. According to the Austin Business Journal, rental rates are expected to rise about 4.2% this quarter and 5% the next. This is mostly due to several factors - people moving to Austin in droves for jobs, low inventory of rental homes and difficulty first-time homebuyers are having obtaining financing. If you can’t buy, you have to live somewhere right? I have witnessed this with my own rental properties watching them rent in hours to well qualified candidates who are willing to pay anything so that they can live somewhere, anywhere.

Although we are not at the levels of Las Vegas (first in the nation in foreclosures), Florida or Arizona, there are still many foreclosure and short sale deals to be had. According to RealtyTrac, the foreclosure rate rose 7.5 percent in the first quarter of 2011. This means one in every 214 homes or a total of 3,218 were foreclosed upon.

As one of the strongest economies in America, the outlook looks good for future appreciation. Forbes.com says Austin is leading U.S. cities on the road to economic recovery. The Brookings Institute reports that Austin is among the top 20 urban centers to show steady development in economic output along as well as positive job outlook.

When it comes right down to it, the old adage applies: The best time to invest in Austin, Texas? 20 years ago. The next best time to invest in Austin, Texas? Today.

For more information on real estate investing check out: The Millionaire Real Estate Investor by Gary Keller and Jay Papasan.

Location and quality of life are major factors that go into choosing and buying a new home in Austin. But as temperatures rise, energy costs also influence the way consumers consider buying or selling homes. When a home offers green or energy efficiency features it can be added incentive to potential buyers.

Most home sales in Austin Texas involve an energy audit. The requirement is aimed at improving the energy efficiency of homes and protecting Austin's unique environment. An amendment approved by City Council this spring requires audit results to be provided at least three days before the end of the option period defined in the sales contract. If there is no option period, sellers are required to disclose audit results before the execution of the sales contract.

An auditor inspects and measures the attic insulation in multiple areas, pressure tests the duct system and assesses its condition and adequacy, examines heating and cooling equipment, inspects weather stripping around exterior doors, plumbing penetrations beneath sinks, and air tightness of attic entries identifies and measures the amount of glass in windows that receive more than one hour of direct sunlight each day.

Savvy home buyers are also interested in energy efficient features such as ENERGY STAR rated appliances, building products, heating and cooling systems, lighting and fans and plumbing (including solar) units.

In Austin hot and humid is the standard from June to Halloween. As summer approaches energy efficient features will increasingly influence the way consumers consider buying or selling homes in Austin.

Energy facts:

• Heating and cooling account for between 50 to 70% of home energy use.
• The energy we save when we recycle one glass bottle is enough to light a traditional light bulb for four hours.
• ENERGY STAR dishwashers reduce water consumption. Dishwasher made before 1994 often add an extra $40 a year on your utility bills compared to owning a new ENERGY STAR qualified models.

See great tips for keeping cool.

Recently, in South Austin, I went on a listing appointment with a homeowner who was, how do I say it? Completely dejected. I was to potentially be her third Realtor. Her home had been on the market for nearly a year and she was starting to think that her home was "unsellable."

This feeling was due in part to her previous Realtor, who I learned at the meeting, had just given her a statute of St. Joseph's - the patron saint of selling homes - to bury in her front yard. When she told me this at the listing appointment - I was in shock. I think my mouth fell open and I'm sure I had a dumbfounded look on my face. Talk about passing the buck. The other Realtor was telling the seller that her home was unsellable because of forces beyond anyone's control. I explained to her that The Papasan Team had other ways of getting homes sold that didn't involve burying anything anywhere.

Thankfully, she hired me and we got her home sold in less than 3 weeks. So, I guess the statue of St. Joseph's worked - just not in the way the previous Realtor intended.

South Austin restaurants are very dear to me mainly because I do love to eat. Some people might call themselves a "foodie," but I am an "eatie." Food is great, but not if you don't eat it! I digress. A few weeks ago, me and my sweetie went to a new restaurant in South Austin on Lamar Blvd. called BarleySwine. How great is that name? It implies bacon and beer, but in a classy way. Thumbs up, BarleySwine for your clever name! Anyway, my hubby and I went there one night for dinner and it was fantastic. Very cozy little place, like you'd find in New York City. With just 6 tables seating 6 people. The place had a bit of a line and we ended up having to share a table with 4 other customers. It was cool and not at all weird to be sharing, especially since we got to sit next to local celebraties Tim and Karrie League of Alamo Fame. We didn't actually talk to them, but still, it was cool. If you go, just know that you will probably be sharing a table unless you are a party of 6 yourself. I was a little worried that BarleySwine might replace our favorite local, organic South Austin restaurant Olivia, but never fear, they are very different restaurants and I will be enjoying them both, hopefully for years to come.

It's nice to see so many restaurants continuing to thrive in Barton Hills and Zilker. We moved here more than a decade ago and this part of South Austin just keeps getting cooler and cooler. We're so glad we bought a house in Barton Hills when we did cause it ain't getting any cheaper. Anyway, other best restaurants in our neck of the woods include Maudies, which happens to be my 6-year-olds favorite restaurant. So delicious and I love how they've updated their menu a little bit as Austin keeps changing. My husband gets the Strait Plate, which is some sick (in a good way) dish with two eggs on the top. Luckily, he has naturally low cholesterol. My 5-year-olds favorite restaurant is currently Subway, so I will not be offering any opinions on that restaurant except to say that I do like the tuna and I'm tired of Jerad as spokesperson.

Stay tuned for more updates on one of my favorite subjects - South Austin restaurants!

Warmly,
Wendy