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United. REALTORS
Welcome to Sedlor Properties Newsletter Page. Our newsletter is published monthly. Below is the most recent edition.
Austin Area Commercial Market – in 2009 the demand for space in offices, warehouses and retail centers dropped off, pushing up vacancy rates and lowering rental rates. Private nonresidential construction dropped sharply and reached near-record lows. Banks also became wary of adding CRE loans to their books, especially in Texas, where the share of these assets exceeded the national average.
In a positive sign, the lower rents and prices are beginning to stir demand for space as well as investor interest. In addition, sectors of the economy that drive real estate demand have turned the corner, suggesting the bottom is near.
30-Year Fixed Mortgage Rates Still at 4.25%
Conventional 30-year fixed mortgage rates are still at 4.25% for well-qualified borrowers paying 1 point origination. 15-year financing is available at 3.75%. Both fixed conforming interest rates are at all-time record lows.
Rates for FHA loans are just as good; however, APR on an FHA mortgage with the same note rate as a conforming loan is significantly higher because of MI and other FHA fees.
Wells Fargo, the #1 originator of mortgages in the United States, is offering on their website a conventional 30-year fixed rate of 4.625, with an APR of 4.812%.
ARound the area
Formula 1 Grand Prix roars into Austin
AUSTIN (KXAN) - Central Texas racing fans will soon be able to feel the roar of the Formula 1 United States Grand Prix right here in Austin. The Formula One Group announced Tuesday the city would serve as the Grand Prix host for 2012-2021.
Mayor Lee Leffingwell said it's too early in the process to name a location, saying there are still "deals in the works." Sen. Kirk Watson, D-Austin, helped pass legislation to provide incentives to attract events like Formula 1 to Texas.
Sources close to the F1 series said the track will be within 15 miles of the Austin-Bergstrom International Airport, most likely narrowed to two possible locations.
The track and series will be used for research purposes into alternative fuels.
The series will attract between 150,000 and 200,000 people for the weekend it's held. Racing officials said they were excited about the move.
Big Red Soda going Retro
Austin-based Big Red Inc. has launched Retro Big Red, sweetened with pure cane sugar rather than high-fructose corn syrup. The product will first be available in West Texas in 12 oz. and 20 oz. cans.
The company also reintroduced its "Big Red Vanilla Float" flavor with updated packaging. They will be sold in New Mexico, North Carolina, Oklahoma and Texas.
Big Red was founded in 1937 in Waco by Grover C. Thomsen and R.H. Roark. The company also produces Diet Big Red, Big Blue, Big Peach, Big Pineapple, Big Punch, Big Honey Lemonade, NuGrape and Nesbitt's
Chip Sales Increase 47%
Worldwide semiconductor sales were $24.7 billion in May, a sequential increase of 4.5 percent from April when sales were $23.6 billion, and a year-over-year increase of 47.6 percent from the same month last year, the Semiconductor Industry Association said Monday.
“Global sales of semiconductors in May reached a new high and remain on pace to reach the SIA forecast of 28.4 percent growth to $290.5 billion in 2010,” said SIA President George Scalise.
“Chip sales have been buoyed by strength in sales of personal computers, cell phones, corporate information technology, industrial applications, and autos. Unit sales of personal computers are now expected to grow by 20 percent this year and cell phone unit sales are predicted to be up 10 to 12 percent over 2009 levels.
Samsung Invests $3.6B in Austin
AUSTIN (Austin American-Statesman) – Samsung Electronics Co. is spending $3.6 billion to expand its plant in the Capital City. Surpassing the $3.5 billion Fab 2 project in 2007 in northeast Austin, the development will serve as the largest private investment in Austin’s history.
The factory will produce complex systems on a chip, which are used for a variety of electronic devices.
Scheduled for a spring 2011 completion, the project will create 500 jobs by next year. At its peak, Samsung estimated the factory will employ approximately 3,000
Found: Money
I recently discovered some "lost" assets. If you’re in Texas check out this web site http://www.window.state.tx.us/up/
Looking for Something Healthy to do This Weekend?
One of the nice things about Georgetown is the extensive hike and bike trail system. The city maintains several trails that begin at San Gabriel Park. From here you can select the South Fork trail which will take you to the downtown square for shopping or dining or you can stay on the trail which ends at the Blue Hole, a popular summer swimming area.
For those a bit more energetic, the North Fork trail will take you from the park all the way to the Dam at Lake Georgetown. This is about a 5 mile trip one way and is great for bicycles. One you reach Lake Georgetown the city trail system connects to Goodwater Loop, a 26 mile trail hiking around the lake.
There are several trail heads and multiple access points to the trail allowing for short day hikes or a multi day trip around the lake. The most common starting point is at Cedar Breaks Park, at the southeastern corner of the lake. Here the trail starts off on a well maintained surface of crushed stone but quickly turns rocky and rough as it approaches the lake shore. Some of the best views of the lake occur near mile marker one. This past weekend I hiked to Crockett Gardens about 2.5 miles in. There is a cool oasis with a natural stream, lots of shade and nice grotto to relax and eat lunch or take a break.
For more information about Georgetown or the trail system click here: About Georgetown
Property Tax Q&A
Do I, as a homeowner, get a tax break from property taxes?
You may apply for homestead exemptions on your principal residence. Homestead exemptions remove part of your home's value from taxation, so they lower your taxes. For example, your home is appraised at $100,000, and you qualify for a $15,000 exemption (this is the amount mandated for school districts), you will pay school taxes on the home as if it was worth only $85,000. Taxing units have the option to offer a separate exemption of up to 20 percent of the total value.
What homestead exemptions are available?
There are several types of exemptions you may receive.
- School taxes: All residence homestead owners may receive a $15,000 homestead exemption from their home's value for school taxes.
- County taxes: If a county collects a special tax for farm-to-market roads or flood control, a residence homestead owner may receive a $3,000 exemption for this tax. If the county grants an optional exemption for homeowners age 65 or older or disabled, the owners will receive only the local-option exemption.
- Age 65 or older and disabled exemptions: Individuals 65 and older and/or disabled residence homestead owners may qualify for a $10,000 homestead exemption for school taxes, in addition to the $15,000 exemption for all homeowners.
What is a homestead tax ceiling?
It is a limit on the amount of taxes you must pay on your residence. If you qualify your home for a 65 and older or disabled person exemption for school taxes, the school taxes on that home can't increase as long as you own and live in that home. The tax ceiling is the amount you pay in the year that you qualified for the 65 or older or disabled person exemption.
Click here forAdditional property tax information
Links to a few Commercial and residential listings:
1. Professional Office Condos - Georgetown Commercial Property: Ideal for Business or Medical Professional. Strategically located in the Medical Triangle area. Multiple Suites For Sale or Lease
2. 284 Acres East of Austin, Frontage on Hwy 290 and old CR 20. This gorgeous piece of land is well cleared with an Ag exemption and hay lease. Great buy and hold property: Click Here
3. Lots of lots – Build your custom home. 160 acres subdivided into 24, four to six acre tracts. Multiple lots available, San Gabriel River frontage available. Owner Financing. Bring the horses:Click here
5. Home on 5 acres in Georgetown – Click here
6. 485 acres in Leander ETJ – Click here
9. See all area available properties 24/7 - Click here
Equal Housing Opportunity |