Georgetown, Texas Real Estate Blog      Your Host: Edward Lui

Back after popular demand:  Another “Favorite HOMEboy Testimonial”

Okay, I confess, I’m not sure how popular these are and what the demand is, but many of my recent clients have been rather “video-shy” so I’m glad that Chuck and Fran decided to be such good sports.
They live on my street and are some cool neighbors and I wish them the best in their future as “beach bums.”  The home that was sold was on 133 Village Park Drive in Georgetown Village.

One of the things I always recommend to my clients is to do a pre-inspection.  This is another revolutionary method that my brokerage, Mars Hill Realty Group, integrates into our house marketing strategy.  Here are the top 3 reasons we do this:

1.  Eliminates potential deal-killers

2.  Reduces negotiation leverage of buyer during option period

3.  Attracts the highest offer from the buyer by positioning your home as fixed and well cared for.

Check out the testimonial below and call me to get the same great results on your home!

133 Village Park Drive in Georgetown Village

The neighborhood of Georgetown Village has a unique street that’s called Village Park Drive.  I know, because I live on it!  It’s the only street in Georgetown Village that is a one-way street.  It’s the only one that has a park that fronts it with a neighborhood park/playscape and a city-run heated swimming pool.  It’s also the closest park to the exemplary-rated Village Elementary school.

Well, now here’s something more unique then Village Park Drive:

133 Village Park Drive, the only home in Georgetown that has a view of this lovely park from the front and a nice view of the Texas Hill Country from the back:

But, here’s something else that this home has:  A perfect night-time panoramic view of the skies

This custom-built observatory has been crafted to very exacting standards so that the roof slides open and you have access to the skies above.  Imagine hanging out here with your children or grand-children on a cool summer evening looking at the constellations and gazing at the moon with a high-powered telescope.  This isn’t just an educational tool for astronomers, it’s a memory builder tool for families.  Not a fan of telescopes?  Simply turn this into a club house, or workshop complete with electricity.

The home is built by David-Weekly and has 3 bedrooms/2 baths all on one level.  The owners are meticulously clean and the trees and flowers on this property will make the next owner look like a landscaping champ.  This home has approx. 2000 SF and is priced at $210,000.

133-vp-inspection report

133-village-park-disclosure-and-survey

For more pictures, check out the gallery below:

The weather is nice.

Walking is good.

Kids need to learn the value of work and earning money.

I need to do real estate marketing.

All of that adds up to our newest monthly LUI FAMILY TRADITION - Deliver real estate fliers door-to-door!

The Task: There are about 400 homes in my neighborhood in Georgetown Village and it takes my family of 5 about 1 hour/100 fliers.

The Method: I am on foot and I carry the fliers in my shoulder bag. Joshua is on the scooter, Chloe is on the bike and Autumn pushes Sabrina in anything that has wheels.  In the newer development, where houses are spread apart, we load up in the minivan.

The Loot: I pay the kids 5 cents per flier.  That’s a ton less then postage!

The Side Benefits: 1 hour of family time, walking in great Texas weather.  Teaching kids about work ethic and simple math.

Check out this month’s and last month’s flier below:

Looking for information on Georgetown Texas Homes For Sale? Visit my website or call me anytime!! Want the latest updates on Georgetown Texas Real Estate, news and latest developments? Sign up for the blog by clicking the link below:

Green Building - Should you believe the hype?
There’s been a lot of hype surrounding green building practices lately.  Save energy, save the earth and feel good about yourself for making a difference for the next generation.  What’s not to love?  Especially if you can save money at the same time!  Well, last year I decided to test the waters with my own green building experience.  I decided to move into a home built by Green Builders in Georgetown Village and got my Ecobroker certification to learn more about the industry and help others through the process of “going green.”

After 12 months of living in a green home, I decided to compare my utility bills with the previous year of living in a “non-green” home and see if there was a noticeable difference.  Keep in mind that this blog post will only focus on the financial benefits, but green building also benefits the environment and the health of your family.  Before I get into the results, there are a few details I need to share with you first:

1.  My previous home was on 115 Village Park Drive (115 VP) and I only moved 5 houses down to 125 Village Park Drive (125 VP) - Location is pretty much the same (Georgetown Village), and so all the climate and home positioning factors are relatively equal.

2.  I compared the time frame of August 2007 - July 2008 for 115 VP with August 2008 - July 2009 for 125 VP - The 2008 summer was pretty dang hot….but anybody can tell you that the 2009 summer was even worse, not to mention a pretty bad drought that we’ve been having too!

3.  For utility consumption purposes, my family size stayed the same:  Just Me, my wife and 3 rascals under the age of 5.

4.  Lastly (here’s the big one); the home on 115 VP drive is a 2000 SF, SINGLE STORY and my new home on 125 VP drive is a 2800 SF, TWO STORY - a home that is 40% larger!

Comparing the Gas Bill

Both of my homes used used gas for the stove, furnace and water heater.  125 VP had a slight advantage in efficiency because the home was built in 2008 and 115 VP was built in 2002.  My home on 115 VP used a traditional water heater that would maintain the temperature at a fairly consistent temperature.  The home on 125 VP uses a tankless water heater so it heats water on demand.  I also have a 50 gallon traditional water heater that is dedicated to my 400 SF home office above my garage, but I hardly ever use hot water up there.  So despite the fact that I have 2 water heaters, 1.5 more bathrooms and 800 extra SF more in my newer home, I still ended up spending only $359 over a 12 month period compared to $521 for 115 VP.  A savings of $162/year.

Winner:  125 VP

Comparing the Electric Bill

So how did my larger 125 VP home use 20% less electricity then 115 VP?  Well, for one, all of the bulbs in that home are compact fluorescent lights (CFLs).  According to the Energy Star website, CFL’s use 75% less energy than incandescent bulbs.  This is an easy upgrade for any homeowner to do.  Word of warning though, you’ll notice that the cost of these bulbs are MUCH higher.  Sure, they’ll boast that the CFL lasts 7 years or longer and that might be a good justification, but as of the 12 month mark, I had 4 of my CFLs go out on me already.  I also purchased a more efficient refrigerator, and a front loading washer/dryer set for my new home.  The HVAC unit in my Green Builder home also went up in efficiency to a minimum of 14 seer.  These appliances can make a significant difference in reducing energy consumption.

Another HUGE advantage that 125 VP has is that the insulation is spray foam.  You can go up in the attic at 125 VP during a 100+ degree summer day and you won’t feel like you’re in an oven.  In fact, you might feel comfortable enough to play a game of checkers up there.  The foam does an amazing job keeping cool air in and hot air out during the summer so that my HVAC doesn’t have to work as hard.  The home’s exterior is a white Austin stone, which is better at reflecting heat then the red brick on my 115 VP home.  In order to minimize direct sunlight shining directly into the home, Green Builders constructs their windows higher up and extends the roofline over the home further out.  The result: I spent $1304 for 125 VP and $1418 for 115 VP, a savings of $114/year.

Winner:  125 VP

Comparing the Water Bill

125 VP has low-flow toilets and showerheads, a 53 gallon rain collection barrel, drought-tolerant landscaping and more efficient appliances.  115 VP has a smaller yard.  Even though my grass is looking pretty ugly over at the 125 VP home, at least I can feel satisfied that I spent less on my water bill then I did at my 115 VP home!  In fact, it was a measly $16/year less ($378 versus $394), but still a win for green building!

Winner:  125 VP

Conclusion:

Living in 125 VP saved me money and usage on all three utilities:  Gas, Electric and Water.  A total savings of almost $300/year or $25/month!  However, keep in mind the home is 40% larger and still managed a savings.  At a utility cost of $0.73/SF/year, that would mean that if I didn’t upgrade and just moved into a 2000 SF green home, my utility costs would only be $1458/year.  115 VP, a 2000 SF home, cost me $2333/year!  That’s a difference of $875/year or $73/month.

This $73/month could justify a homeowner paying $10,000 more for a green home and keep his cost of ownership (house payment and utilities) pretty much the same.  Another way to look at it is this:  If you are going to invest $10,000 to achieve a savings of $875/year, you might want to make sure you live in the home long enough to reap the financial benefits.

If you’re considering a purchase of a green home or doing energy efficient upgrades, tap into my Georgetown Texas real estate expertise and give me a call or share your experiences in the comments below.  I’d love to hear from you!

Looking for information on Georgetown Texas Homes For Sale? Visit my website or call me anytime!! Want the latest updates on Georgetown Texas Real Estate, news and latest developments? Sign up for the blog by clicking the link below:

Those of you who live in Georgetown Village have probably noted the old cemetery next to the entrance of Phase I. I’ve always had a fascination with cemeteries as there lie the repositories of the last remains of people who lived and experienced another time.

Not wanting to disturb the dead, or get arrested for trespassing, I overcame my innate curiosity, until one Saturday when I noticed someone inside the fence cleaning up all the brush and grass that had accumulated. I figured that if he could be in there working, I could at least step in to have a look around and ask a few questions.

The man was Rev. John Gurley, a local Baptist preacher, who said that he cared for old cemeteries that no one else was taking care of. He said that it was a way of paying respects to his parents who were buried too far away for him to care for their graves. By the time I got there, he had cleared away most of the brush that had clogged the cemetery. He told me that an armadillo had dug down into one of the graves and that he had had to replace some of the bones that the animal had disturbed. There are numerous unmarked grave stones scattered around the area, based on their small size, the Rev. Gurley said that most appeared to be young children, a sobering reminder both of the material poverty of most of the early settlers and the fact that not too long ago many parents buried more children than they raised to adulthood.

The mysterious two gravestones: The two graves stones that do have inscriptions are enclosed in a small wrought iron fence in the middle of the cemetery, the one that a burrowing armadillo had disturbed was Cretia Lord (Jan 23, 1846 – Nov 15, 1902). The other person buried there is her infant son, David (Aug 25, 1872 – Jan 25, 1873) who appears to have died from Scarlet Fever, a common killer of children in that age. I little digging on the internet found that Cretia’s father, Joseph Martin Fish, born in Germany, was a veteran of the war of 1812. Cretia’s mother Nancy outlived her daughter by two years, passing away in 1904.

Cretia’s husband, Leroy B. Lord also outlived her, passing away in 1911. He is buried in the IOOF Cemetery behind Southwestern University. Besides being sheriff of Williamson County 1868-1869 he was also a relatively wealthy man. In a 2001 proceeding of the Georgetown City Council in which permission was given to begin development of Georgetown Village, that whole area was referred to as the “Leroy B Lord Survey.”

I’ve always found history to be most interesting when I find a personal connection and now I have one with the lady whose mortal remains lie in the cemetery at the entrance to Georgetown Village. If you live in the Village, then your house stands on land that once belonged to that lady and her husband.

With the type of real estate market we’re in right now, many of us are looking for GREAT DEALS…buying opportunities that come around just once in a lifetime.

And if we can’t find the great deals, we think we can create them with a wonderful thing called the “lowball offer.”  Now, technically there is no real definition of what constitutes a lowball offer, except that it’s low ofcourse.  In the market that I’m used to working in (Greater Austin), anything more than 10% off a reasonable list price is considered a lowball offer.  I say “reasonable list price” because there are plenty of agents who list their homes way to high, just to get the listing, and an offer of 10% off list price would actually put the home at market value!

Well, the question that you have to ask is:  Is it worthwhile for a buyer to pursue this strategy for their next home or investment?

I received an email from a client regarding this very thing and I wanted to share my response with my readers:

I know this sounds bad…but given the market conditions and how many houses seem to be going up I want to buy something for what I consider a steal…I am sure there may be buyers in front of me but I figure what the heck I might as well try. We really are happy renting as we will be moving in 2 years for sure into Austin and will turn it into a rental property or sell it. I guess I would be willing to lob bids in on properties in the $125k area for sellers that are desperate. Tell me if I am wrong but, from what I have read, I think that should be doable if I am patient, and like I said I am buying for the bargain, not b/c we particularly need or want a house in Gtown. Your thoughts are appreciated! - JW

Dear JW -

Hmmm, you bring up some interesting points.

You’re not the only one wanting to snag a steal…I do too…in any market!  However, there is a reason why I, as a guy involved full time in real estate, have never gotten a good as a deal as you’re wanting to get through the lowball method even though I own 5 homes:

1.  I’m not savvy enough
2.  I don’t have the patience
3.  I haven’t been in the right place at the right time
4.  I never offered anything that lowball and it got accepted.

I’d say it is a combination of maybe all 4 of those reasons to some degree.  However, my goal is to own homes, not make offers, so eventually I need to be able to use the resources I have (time, money, patience, savviness - i know i didn’t spell that right), however limited they may be, and buy something.  Not because I need to, but because I want to.  For me, it’s better to own 5 pretty good deals, then 1 super great deal.

I don’t know how productive it would be for me to make the 50 offers for you just to get 1 accepted…..especially if I’m not willing to do it for myself! That is a full time job…and I already have one.  In my early (read: desperate) years of real estate when I had time to twiddle my thumbs, I helped a lady do this and we made a good handful of offers….in the end, all I did was spend my time and money and she never bought a home. I told myself that in the future I would never do that again.  If somebody insisted that I represent them on making lowball offers on a multitude of properties, I could only justify it from a business standpoint if I charged my client for every offer made.

If you’re trying to get a home for $125K and it’s worth $150k, why would the owner lose $25k to you when they can just lower the asking price to $135k (10% below market value!) and still sell it quickly and for $10k over what you’re offering?  What you’re trying to do can and has been done….but I haven’t personally been able to be successful with it.  Believe me, I’ve tried.

BOTTOM LINE: Value is not determined by how much of a discount you can get off a home.  To many lowballers think that if they can get a huge discount off the home, they can brag to their friend’s “I’m da man!” yet really have no idea of the true value of what they bought.  I would much rather determine the value of a home and purchase it at a great price rather then feel the need to have to lowball everything in sight.  I guess what I’m saying is that you don’t have to lowball (offer a ridiculously low amount) a home in order to get a great deal.  Real estate investing is determined by the end result…how many homes you own is more important than how many offers you’ve made. Case in point:

On the market today is a home on 1125 Boxwood Loop in the city of Georgetown, Texas.  It’s listed for $157,500 and is 1953 SF.  If you are an investor or homeowner, I can help you own this home for probably around $150,000.  Is that a lowball offer?  No.  Is it a great price?  Well, let’s just say that it will be the second cheapest home to sell in Georgetown Village since January of 2005 (according to the MLS).  I’d say that’s a great deal!  Interested?  Call me before I buy it for myself.

Here’s a cute home in my neighborhood that has 4 bedrooms and is listed at $175,000.

The architecture has the same characteristics of those downtown historic homes like big front porches, large dormer windows and siding/stone exterior. However, you don’t have to worry about updating the plumbing or leveling the foundation because, unlike those old historic homes, this one is built in 2004.  I like these homes in Georgetown Village because it combines the best of both worlds:  Old home look without the old home maintenance.

Here are the  pictures:

Video of home can be found here:

More information on the home can be found here:

Rosedale-flyer

rosedale_survey

rosedale_disclosure

Looking for information on Georgetown Texas Homes For Sale? Visit my website or call me anytime!! Want the latest updates on Georgetown Texas Real Estate, news and latest developments? Sign up for the blog by clicking the link below:

After I bought my Green Builders home, I also purchased some of their company stock.  It’s an expensive way to force me to pay attention to any financial news regarding the builder.  Same thing for my gym membership.  If I don’t pay, I just won’t exercise.

Today I ran across an article that gave me reason to sell all of my shares:

Green Builders gets delisting notice
January 29, 2009 6:14 PM ET

from bizjournals.com

Green Builders Inc. could be removed from the stock exchange its been trading on if it doesn’t regain compliance with listing rules.

The company said it will explore all of its options and has not made a decision whether or not it will submit a plan to continue to trade on the exchange. For now Green Builders continues to trade on the exchange.

Ouch, so what does that mean for the builder?  Hopefully that won’t affect their ability to operate in Georgetown Village.  I would think that the only thing that changes is their ability to raise money through their shareholders.  However, I’m no financial guru.  It’s an obvious fact that the stronger the financials of a builder, the more likely they’ll stick around and net losses in two of its three most recent fiscal quarters doesn’t sound very promising.  It would probably be harder for the company to borrow money and So what’s your prediction?  Do you think they’ll stay or go?

Home sales are excellent in Georgetown, Texas! We’re breaking new records and we just can’t keep up with the demand! Buy now or rent forever…local shortage of homes!

Ok, not really, but I just thought you’d like to hear something positive in the news these days…and maybe, just maybe those headlines will be true for Georgetown one day.

Here’s a headline you can believe in:

FREE KID-FRIENDLY ENTERTAINMENT:

Balloon Twister, Face Painter,Refreshments, and Gift Card Give-Aways at Georgetown Village Tour of Homes -

Sunday, October 19th from 2-5PM

Since the “ace in the hole” for Georgetown Village is the Exemplary Village Elementary School, I thought it would be very fitting to have a kid-friendly event that would be different then the typical, boring open house. This tour of homes will feature homes by local builders: Origin Homes, Cobblestone Homes, Green Builders as well as larger builders: Lennar, Perry and David Weekley. It will be a one-of-a-kind opportunity to check out 6 different builders in one of the most talked-about communities in Georgetown.

Hope to see you there! Check out the map: gtv-edwardlui-handout

Want the latest updates on Georgetown Texas Real Estate, news and latest developments? Sign up for the blog by clicking the link below and don’t forget to comment on my blog, I love reader interaction!

You hear a lot about how Georgetown, Texas is such a great place to live for people who work in Austin. But what about 30 minutes in the other direction North? Well, that would land you right in Temple and the entire Killeen/Ft. Hood area. Don’t be scared off by the picture on the left…that would be more like your commute to Austin, then Temple. You see, if you’re heading north, there rarely is any traffic! Heading south into Austin, well, that’s another story.

I have recently had an influx of clients who are working in Temple/Ft. Hood/Killeen and one thing that is important to all of them is the drive time. So here’s a little research I put together thanks to the power of Google maps.

These calculations were done to the entrance of the neighborhood to the Hwy 195 exit 268. You’ll want to add another minute or two to get to the actual home.

These are all close to 10 minutes or less:

Shady Oaks = 4.1 Miles                          (6 Minutes)
Berry Creek/Logan Plateau = 4.5 Miles   (8 Minutes)
Falls of San Gabriel = 5.8 Miles              (9 Minutes)
Georgetown Village = 5.4 Miles              (9 Minutes)
Historic Georgetown Square = 5.4 Miles (9 Minutes)
River Chase = 6.7 Miles                           (9 Minutes)
Wood Ranch = 7.5 Miles                          (11 Minutes)

These are all 15-20 minutes:

Fountainwood Estates = 8.4 Miles              (14 Minutes)
Cimarron Hills = 11.9 Miles                        (15 Minutes)
Woodland Park = 9.1 Miles                          (15 Minutes)
Teravista = 12.2 Miles                                 (15 Minutes)
Mayfield Ranch = 13.7 Miles                       (15 Minutes)
Gabriels Overlook = 12.6 Miles                   (16 Minutes)
Behrens Ranch/Walsh Ranch 14.1 Miles      (16 Minutes)
Escalera Ranch = 12 Miles                           (17 Minutes)

From the Hwy 195 exit 268 to Temple exit 301 is 33.8 miles or 30 minutes. So you can get to Temple from any of these neighborhoods in 36 - 47 minutes one way. If you drive faster you can probably deduct another minute or two. Driving like a Grandma? Well, add another 5 minutes. Anyways, you get the point.

I’d be interested in some actual results! Do you live in one of these neighborhoods and work in Temple? How accurate are these times? Post your results!