Custom Home in Gated Community with Lake Views for Miles

Custom home with to many upgrades to mention. Seller spared no expense on building this beautiful home with miles and miles of Lake and Texas Hill country views. This home offers Bosch appliances, Custom cabinets with the refrigerator matching, Wood floors throughout, Custom antique doors off the living and dining room, fireplaces inside and outside, spacious decks and patios with a custom heated pool and hottub. Outdoor Kitchen perfect for entertaining as your guests watch TV outside and enjoy the pool.



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Austin 6th Safest city of its size, Report says

Austin Business Journal – by San Jose / Silicon Valley Business Journal

Date: Monday, November 22, 2010, 9:52am CST

Read more: Austin 6th safest city of its size, report says | Austin Business Journal

Austin was ranked the sixth safest city among those with 500,000 or more residents, according to a report by CQ Press.

The list ranks cities from a compilation of crime statistics in six main categories: murder, rape, robbery, aggravated assault, burglary and motor vehicle theft.

In the 500,000 plus category, the safest city was El Paso. Next came Honolulu, then New York, San Jose, San Diego, Austin, Portland, Los Angeles, Seattle and Fort Worth.

In the same population category the most dangerous cities, in order, were Detroit, Baltimore, Memphis, Washington D.C., Atlanta, Indianapolis, Philadelphia, Milwaukee, Houston and Columbus.

To see complete lists and how the rankings work, click here.

Read more: Austin 6th safest city of its size, report says | Austin Business Journal

Austin Foreclosure Postings Topped 15,500 For all of 2010 & set a New Annual Record High.

George Roddy, Sr., President of Foreclosure Listing Service, Inc. announced today, “Foreclosure postings filed in the Austin Metro this year topped 15,500 postings, setting a new record high for this foreclosure cycle.”  He continued, “This very well may be the all time record high.  It is certainly the highest that I have seen since Foreclosure Listing Service, Inc. began tracking foreclosure activity in the Austin area in 2001.”

“Foreclosure postings have climbed 10% over the past year with 15,622 postings filed this year against real estate located in the four county Austin Metro compared to the previous record high of 14,138 set last year,” Mr. Roddy stated.

“Glancing back over the past 7 years,” the foreclosure researcher reflected, “From 2004 through 2007, the annual volume of postings filed in the Austin area was on a downhill ride and reached a low of 7,110 postings for this 7 year period in 2007.  Since then, foreclosure notices have climbed in each of the subsequent years.  In each of the last two years, annual postings have exceeded 14,000 for the first time in this cycle.”

Mr. Roddy said, “Not all of the properties posted for foreclosure are auctioned off.  Generally, 25 to 40% of the postings filed are auctioned off at the first Tuesday foreclosure sale.”

He continued, “This means between 60% and 75% of the residential postings filed are not processed or auctioned at that month’s foreclosure auctions.  The major reasons for a posted property not to be auctioned at the foreclosure sale include the following:  the homeowner’s loan may be under review for a loan modification, the homeowner paid the delinquent mortgage payments, the homeowner filed for bankruptcy which temporarily halts the foreclosure, the homeowner sold the house and paid off the loan, or the homeowner sold the house as a short sale where the lender agreed to accept less for the home than is currently owed on the home.”

Mr. Roddy commented, “Among the four counties in the Austin Metro, Travis and Williamson Counties have both experienced another year of rising foreclosure postings which have reached new record highs for this foreclosure cycle, while posting activity in Hays and Bastrop Counties has declined.”

“In Travis County,” he stated, “annual foreclosure postings have topped 8,000 for the first time in this cycle with 8,550 postings filed this year, which surpassed the previous record high by 17%.  In 2009, 7,289 foreclosure notices were filed threatening Travis County properties with foreclosure.”

Mr. Roddy reflected, “Over the past 9 years, Travis County foreclosure posting activity has surged 404% from just 1,698 foreclosure notices filed in all of 2001 up to the 8,550 recorded for this year.  During the course of the last 9 years, postings rose to a peak in 2004 with 4,218 postings and then dipped down into a valley with just 3,482 postings filed in 2007.  Since then, Travis County foreclosure posting activity has climbed upward in each of the last three years.”

“In Williamson County,” the foreclosure expert said, “annual foreclosure postings for this year reached above 5,000 for the first time in this cycle with 5,145 postings filed this year, which surpassed the previous record high by 14%.  In 2009, 4,508 foreclosure notices were filed in Williamson County.”

Mr. Roddy reflected, “Looking back over the last 9 years, Williamson County foreclosure posting activity has skyrocketed 521% from only 829 foreclosure notices filed in all of 2001 up to the 5,145 recorded for this year.  Williamson County’s foreclosure posting trend line closely mirrors that of Travis County.  During the course of the last 9 years, Williamson postings rose to a peak in 2004 with 2,736 postings and then dipped down into a valley with just 2,157 postings filed in 2007.  Since then, Williamson County foreclosure postings have risen in each of the last three years.”

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Heat Stats for the Austin Area

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October Stats for the Austin Area.

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Lakeway annexing 1,000 acres in the next 10 years


By Aden Holasek Friday, 05 November 2010 (Source: Community Impact News, for access to actual article, please click here.)

LAKEWAY — Under the recommendation of developers, the City of Lakeway plans on annexing about 1,000 acres in the next 10 years. Much of the annexed areas is already under construction or planned for new single- and multifamily homes, as well as some mixed-used developments.

City Manager Steve Jones said once that land is annexed the city will be finished expanding. Jones said the Lakeway City Council has discussed annexing portions of the Hill Country but believes the ranching culture in that area does not match the lakeside lifestyle of Lakeway. He said the city feels the same about land to the south, beyond Hwy. 71.

The rest of the City of Lakeway is bordered by the City of Bee Cave, Lake Travis, the Hill Country and Austin’s extraterritorial jurisdiction.

Growth in the city

Former Lakeway Mayor Steve Swan said Lakeway was developed in the late 1960s as a place for Houstonians to retire or to buy a second home. At that time, it was not considered an Austin suburb.

In the past 20 years, Lakeway’s population has doubled due to modern infrastructure and the quality of schools in the area, making Lakeway more accessible to those with jobs in downtown Austin and to families with school-aged children.

With Lakeway Regional Medical Center planned to be complete in 2012, more families are expected to move in.

Mayor Dave DeOme said the medical center will bring an estimated $300 million to the city’s tax base, increasing the current tax base of roughly $2.4 billion by 12.5 percent.

“I don’t think any of us have a full understanding of what the hospital can or will do for the community,” Swan said. “But it will have a major impact on the whole area.”

Though the total impact the hospital will have is unknown, employees at varying salary brackets will likely be looking for housing in Lakeway as the hospital begins hiring.

While the hospital will not be complete for another two years, the need for more homes is already growing in Lakeway.

“Activity in single-family development revenue shows that the economy [in Lakeway] is recovering,” Jones said. “More people are moving out here for the quality of life.”

He said the first model homes in two years have been built in Lakeway—in the Ridge at Alta Vista and Terrace at the Preserve Condominiums. Buyers are already showing interest in the homes, with eight out of the available 30 homes in Terrace at the Preserve sold within 30 days.

Those communities are two of the half dozen or so under construction in the city. Little residentially zoned land remains open outside of these developments, but according to city records, these communities will add approximately 3,400 residences to the city.

Legend Communities, the company that is developing Rough Hollow and Tuscan Village—two of the eight residential communities being developed in Lakeway—owns the majority of the undeveloped land in the city. The company develops mostly single-family communities; however, Haythem Dawlett, founder and principal of Legend Communities, sees a need for additional multifamily units in Lakeway.

He said there are approximately five apartment complexes in the nearby area, each 94 to 98 percent full. He believes hospital employees will need this type of housing, so he plans on including apartments and town homes in Rough Hollow, which will be the first multifamily housing within the city limits of Lakeway.

The residential growth in Lakeway has resulted in an increase in commercial growth, Jones said.

According to city data, there are eight developments already planned for Lakeway that will have commercial space. Included in these projects are one to two hotels, some restaurants and medical complexes. The majority of the space, however, will be for retail shops.

Dawlett said retail will follow demand, but he sees the limited amount of land in Lakeway as a hindrance to potential businesses. He believes the land and community can only support one more large retailer—such as H-E-B, which already owns land in Serene Hills. The rest of the land, Dawlett believes, will be developed into shopping plazas or a centralized town square.

“Mom and pop stand-alone businesses will not work; they need the density [of a shopping plaza] to create a mass attraction,” Dawlett said.

Impact on the city

Adding all this new residential and commercial traffic to an area that is not increasing in size will put more traffic on already strained roads, water systems and schools, Jones said.

Jones said while people rarely like to pay higher taxes, it usually takes bonds or tax hikes to pay for those infrastructure changes, such as new schools.

“Growth does not pay for itself,” Jones said. “For example, people move in and drive the need for a new school, but it is the people who live here already that pay for it. They did not cause the growth, but they have to pay for it. It is not the fault of the school district but the fault of the design.”

Two schools are already planned for Lakeway: an elementary school inside Rough Hollow and another just outside the city limits on the west side of Bee Creek Road.

Dawlett’s company paid to install a right-turn lane from Lakeway Boulevard onto Lohman’s Crossing Road and constructed Highland Boulevard, giving Lakeway residents greater access in and out of the city. He said he believes this will greatly help the residents of southwest Lakeway but does not think roads are the most limiting infrastructure issue.

“The compromising thing about growth in Lakeway is the sewer,” Dawlett said.

He said there is no sewer system that serves the whole city, but there are six utility districts. He adds that some of the open land in Lakeway is being used as irrigation land for those districts and believes they could be relocated in Rough Hollow to allow for additional growth near the city center.

Regardless of whether the infrastructure is ready for it, growth continues in Lakeway.

Swan said that while citizens may be split on whether growth is a good thing, he said he thinks the strict ordinances already in place will help the city maintain its charming nature.

“Lakeway will be different than what we know today,” Swan said.