Archives for December 2007

How to get a loan with a New Home Builder part 2 of 2

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(Read Part 1 of 2 here)

Here is the home I closed on last month! I had a renter for it before I closed on it too! (This is a great place to pick up rentals…that’s a post I’ll have to write about in the future).

Well, after I couldn’t get Lennar to match exactly the rate and closing costs of the outside lender, I took a closer look at the contract.

Lo and behold! I found a section in contract that indicated they would pay my Loan Origination Fee if I would use UAMC. I then called UAMC and asked them to buy down my interest rate to 6.15% to match my outside lender and then to add the cost to my Loan Origination Fee. They happily did that because:

1. They get paid more
2. They didn’t understand that Lennar was going to be footing the bill

Bottom line: I was able to close with Lennar’s in-house lender and not pay one extra cent! If I was greedy I could have asked them to buy it down further, but I wasn’t sure this was going to work or not and didn’t want to be stuck paying more at closing for this. They tried to wiggle out of it towards the end, but their Closing Coordinator was very cooperative. Another resource your real estate agent needs to connect with is this person!

If you’re shopping for a new home, give me a call and I’d love the opportunity to find you a great home AND great financing. Also, sign up for my blog by clicking the “Posts RSS” button on the left hand navigation bar and you’ll be sure to get more helpful information like this in the future.

~Edward

Website Milestone!

After a year of launching this website and 9 months into the Blog, today www.GeorgetownCustomHomes.com has hit page 1!!!

For the search term, “Georgetown Texas Real Estate,” we’re on the first page of the 3 major search engines: Google, Yahoo and MSN.

Thanks to all the visitors who have browsed my site! This website was created as a free resource to custom home buyers in Georgetown, Texas and I hope you have found it to be valuable.

Thanks even more to those who have put their trust in me and became my clients as a result of “meeting me” online. I value your trust and friendship and hope I can continue to be your trusted real estate advisor for you, your friends and your family.

In a “slowing real estate market” God has provided for my family, through this website, and I am grateful for the relationships that I have developed in the process…and grateful to Him, who always does exceedingly and abundantly more than I can ever ask or imagine (Ephesians 3:20)!

Your Favorite Homeboy,

Edward

Longhorn Junction in Georgetown, Texas

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Just read this today in the Statesman…this is a wake-up call if you are sitting on the sidelines waiting to invest in Georgetown:

By M.B. Taboada
AMERICAN-STATESMAN STAFF

Wednesday, December 12, 2007

A new 70-acre retail development is headed for Georgetown.

Bourn Partners of Tucson, Ariz., announced Tuesday that it plans to build a major retail project on the southeast corner of Interstate 35 and Inner Loop Road, as part of Longhorn Junction, a 350-acre mixed-use, master-planned development.

Bourn plans to break ground on the retail project in 2009. It will have 800,000 to 1 million square feet, larger than the city’s biggest retail spot, Wolf Ranch Town Center, which has about 750,000 square feet of retail.

Bourn representatives introduced their plan Monday night to the Georgetown City Council at a city workshop.

Though Bourn has not landed tenants, Don Bourn, chief executive officer of Bourn Companies LLC, told council members that the project would be an upscale family destination. He also mentioned the possibilities of a hotel, a department store, live entertainment venues and a Bass Pro Shops outlet.

Bourn representatives declined to comment Tuesday. But in a news release, the company said the project will “create a dynamic, one-of-a-kind retail environment for Georgetown residents, neighboring communities and visitors to Central Texas.”

Mark Thomas, Georgetown economic development director, said the project will meet the city’s high demand for eating and drinking establishments, adding that nearly each time a new restaurant opens, the line of customers snakes out the door.

Longhorn Junction has already landed a $450 million, 250,000-square-foot Citicorp data center, which recently completed construction on the southern portion of the property. Other major Georgetown projects include:

The Summit at Rivery Park, a hotel and convention center by Central Texas-based LedgeStone Group Inc.

Three Forks Community, a 353-acre mixed-use project by developer Bob Wunsch, that fronts Airport Road and two miles of Berry Creek.

A 600-acre urban development that would include thousands of homes and retail just outside Georgetown’s city limits, by David Singleton, president of Leander-based Southwest Land Services Inc.

The Georgetown and Round Rock areas have seen a surge of retail growth, from a new IKEA store and the Round Rock Premium Outlets to Wolf Ranch in Georgetown, said David Simmonds, senior vice president in Austin with the Weitzman Group, a commercial brokerage specializing in retail properties.

“Because of the amount of retail that has come on line recently and is planned, you have a danger of oversupply,” Simmonds said. “But if they have a quality anchor kicking this off, that’s going to be a catalyst for the development, and they’ll do really well. What will suffer is the older shopping centers that don’t have as good of an anchor or no anchor at all,” and those centers can expect to see rents and occupancies decline, he said.

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