Ken Manceaux

Update on Market in Southwest Austin-September 19th, 2008

Kendred Manceaux — Fri, 19 Sep 2008 14:26:00 GMT

Let's take a look at the current market here in Southwest Austin and more specifically the areas of Legend Oaks, Village at Western Oaks and Circle C.

Legend Oaks currently has 13 homes for sale with 6 that are pending taking backups-- and 9 that have sold in the last 60 days. The sold homes have ranged between $219k to a high of $275k.

The Villages at Western Oaks neighborhood has 47 homes for sale with 14 either pending or pending taking backups--and 22 that have sold between a price range of $217k to a high of $268k. There is only one home that may sell over $300 and it is currently pending and is just under 2400sq. feet and has a nice pool.

Circle C is such a large area and has 85 homes for sale with 17 that are pending or pending taking backups--with 45 sold in the last 60 days ranging from 224K to $570K. Most of the homes sold fell between the $224K and $446K range with two that sold at $555k and $570K.

If you look carefully at these figures, you can see a trend in Legend Oaks and the Villages at Western Oaks--there seems to be some resistance for buyers to want to spend more than $275K and the homes priced over that mark are spending more than 90 days on the market. Sellers in these two neighborhoods should take note of that and not panic, but be more realistic in thier pricing, because buyers are being conservative in their purchasing habits.

Circle C is such a different area because there is still quite a bit of building going on. I think the real deals are the older homes that need some work, that if negotiated correctly could be well worth someones time and investment. I have seen homes start in the $425K range for the newer built homes, but eventually drop back to the $375K range which is where they are selling. If you are one of those sellers that just bought in the last two years and has to sell, I would strongly suggest you consider leasing your home for the next couple of years until the building of newer homes moves further south.

Ken Manceaux
Broker/Owner

New home on the market at 6127 Oliver Loving Trail in Legend Oaks

Kendred Manceaux — Wed, 17 Sep 2008 23:56:00 GMT

Legend Oaks, Austin - Announcing a new home on the market at 6127 Oliver Loving Trail, a 2,540 sq. ft., 2 bath, 4 bdrm single story. Now MLS® $287,500 - Beautiful custom updates.

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Is Private Mortgage Insurance Deductible?

Kendred Manceaux — Fri, 28 Mar 2008 18:27:00 GMT

Don't Forget: PMI is Deductible
As April 15 tax day approaches, here is a reminder for home buyers with mortgage insurance.

Home owners with adjusted gross incomes of $100,000 or less can deduct the full cost of their government or private mortgage insurance premiums on their 2007 federal returns.

Families with incomes between $100,000 and $109,000 are eligible for a reduced deduction.

This is a new tax break that Congress has approved through 2010.

"On average, this year's tax break could be worth $350 per taxpayer — an annual deduction that qualified home owners can take each year through 2010," says Kevin Schneider, president of the Mortgage Insurance Companies of America (MICA).

Source: MICA (03/26/08)

When is the right time to buy or sell your home?

Kendred Manceaux — Thu, 06 Mar 2008 17:07:00 GMT

I get this question a lot from friends, family and clients and the answer is the same everytime--it depends on your long term outlook, goals and willingness to take risks. I remember here in Austin in 1995 that we had several friends that would build a new home every 5 or 6 years. Each time they moved, they were able to take a larger and larger piece of equity with them to use towards the purchase of a bigger and nicer home. During those days, the growth in equity of homes here was astonishing. In fact, this was happening all over the country, people were begining to realize that they could use the rapidly growing equity in their homes for all sorts of things.

Now here we are about 13 years down the road in 2008 and the country is in the middle of a housing slump as inventories are at all time highs. Here in Austin, we have fared somewhat better and our inventories have increased but by much lower than the National average and our job growth rate is 3 times the rest of the country. So is now a good time to buy or sell a home here in Austin? If you have good credit and some equity to put towards your purchase, it really seems to be a good time to sell and purchase. On the selling end, you may not get the crazy high dollar returns the folks were getting here in Austin just last year in most of 2006 and the begining of 2007, however on the flip side, after you sell, your buying dollars will go a little further as you will have more to choose from and at a reasonable price. Some folks have no choice in the timing of when they buy or sell. Many are at a time in their lives when they financially need downsize or perhaps they are getting relocated or even worse going through a divorce or have a death in the family.

In my opinion the fact still remains that buying and selling a home should be viewed as a long term investment that may have small or large dollar yeilds and tax breaks-- depending on the time you keep and work to improve your investment. It is not a given that any home you purchase will return tremendous profit dollars to you in the future. If you are lucky as most homeowners are, you will realize the main benefits of homeownership are not financial--but emotional. The value of having a safe and consistent place for your family to live, work and play is the biggest return on investment in my book.

Ranch For Sale in Southview Estates

Kendred Manceaux — Fri, 31 Aug 2007 06:00:00 GMT

• ranch "Build your own home" - MLS® #7263825 $189,000 - Super 2 Acre Homesite

Southview Estates, Austin - 2 acre lot with spectacular hill country views. Lot backs up to a large ranch. Minimal restrictions with city water, electricity and septic.

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Ranch For Sale in South View Estates

Kendred Manceaux — Thu, 26 Jul 2007 06:00:00 GMT

Awesome Value

• 2,950 sq. ft., 2 bath, 3 bdrm ranch - $449,000 - Great Country Living

South View Estates, South Austin - This home has been remodeled with great care and pride. It really shows how well a beautiful Hill country ranch style home can look when it is updated. It sits on a 2 acre homesite with wonderful mature oak trees along with a horse barn and stable. Other features include a recently upgraded swimming pool, open gourmet kitchen, travertine tile floors and many more extras. THIS HOME IS CURRENTLY LEASED WITH TENANT TILL MAY 2008. BUY IT NOW AT THE 2007 PRICE AND MOVE IN NEXT YEAR!

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Single Story For Sale in Central Lockhart

Kendred Manceaux — Fri, 04 May 2007 06:00:00 GMT

A must see home that is rejuvenated!

• 2,724 sq. ft., 2 bath, 3 bdrm single story - $240,000 - Updated and Ready!

Central Lockhart, Lockhart - Beautiful Old style home remodeled with love and attention to detail. You must see the 120 year old pine built in's that have been restored and refinished along with all the wooden floors. The master suite was added as an addition to the main home and is very spacious and inviting.

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Lot / Land For Sale in Horseshoe Bay West

Kendred Manceaux — Mon, 23 Apr 2007 06:00:00 GMT

Horseshoe Bay Culdesac Lot

• lot / land - MLS® #7748391 $25,000 - Great Home Site

Horseshoe Bay West, Horseshoe Bay - Super nice interior lot located on a Culdesac in Horseshoebay West. This lot has nice trees and is easy to get to from Austin and Lakeway.

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