According to a recent national data from the American Society of Home Inspectors, the most common problem  area uncovered by inspectors is roofing. Roof problems are 3 times more prevalent on inspection reports than the second most frequent problem, electrical.

The most common type of roof in this area is an asphalt composition roof,  called comp for short.   Until the early 80′s, they carried a 15 year manufacturer’s warranty,  though currently installed fiberglass shingles have a 20 year warranty.  You may also  hear of roofs referred to as a 175# or 225#  roof. These figures refer to the weight of shingles required to cover 100 sq. ft. of roof area, (a “square”).  To some extent, the weight of a shingle is related to quality, i.e. the heavier the shingle,  purportedly better the quality. With the advent of lightweight fiberglass shingles, the weight of a square roofing materials is less of a measure of the quality than it was with the old style asphalt shingles.
The asphalt composition roof had an organic felt material as a base whereas, the fiberglass composition roof has fiberglass as its base. The use of the fiberglass mat causes the roofing material to have a longer life.
Manufacturer’s warranties are generally limited, pro rata warranties that apply only on to the shingles themselves, not the installation labor.

By a pro rata warranty,  I mean that if you purchase a new roof and the shingles fail after 14 years, you are entitled to receive 6/20ths of  the original purchase price of the shingles in satisfaction of the warranty.   Some warranties are front-end loaded, meaning if the shingles fail during the first few years of service, you will receive a higher percentage of the purchase price in satisfaction of the warranty as opposed to a failure near the end  of the warranty period.

In most cases the warranty covers only the original purchaser of the shingles and it is not transferable to any subsequent owner.   The manufacturer’s warranty is usually found on the paper wrapping around each bundle of shingles and  the supplier of the shingles should furnish the purchaser with a  warranty document indicating the date of the sale and installation of the product.   Any reputable roofer will furnish you with copies of the manufacturer’s warranty.

When installing a new roof on property as a condition of sale, make sure the warranty is transferable to the purchaser or the warranty is registered in the name of the purchaser of the property.   Any warranty covering labor is made by the roofer installing the shingles and should cover not only the installation of shingles, but all flashing, decking, valleys and other work done in connection with installation of the roof.    Also, most manufacturer’s warranties are voided if it can be shown the roof was improperly installed.   This tends to happen more frequently than anyone would like to admit.   It is another reason for hiring a reputable, bonded roofer to do the installation.

The sun in Texas is the main enemy of shingles and causes them to deteriorate more rapidly than up North.  The Building Code states that it is acceptable to have up to 2 layers of roofing on a house though no good roofer will do an “overlay”.
The actual number of layers that is acceptable is a function of the type of framing the roof has.   A roof  supported by 2″x 4″ rafters can carry less weight than those supported by trusses or 2″x 6″ rafters.   You are inviting a sagging roof if you put more than one layer of shingles on the former.   In many older homes that have no ridge board (the board running between the rafters at the peak of the roof) and little or no rafter bracing, the framing will not support 2 layers of shingles without sagging.
The cost of roofing, though not outrageous, can easily cramp your social life.   Replacing an existing roof commonly runs from $135 to $150 per square (100 square feet).   This assumes that you choose the normal lightweight composition shingles.   Longer lasting shingles or roofs with steep pitches & numerous  “valleys” will cost more.
Another item to remember, not all roof leaks are caused by failure of the shingles.   Most often leaks are the result of improperly installed or failed metal flashing around vents, chimneys, or in valleys.   In other instances, the leak may be caused by the failure of the decking, trusses or rafters which causes the shingles to buckle or separate.   Shifting of the foundation can put sufficient stress on the roof to cause leaks.
As a final comment, let me just say that roofing, contrary to popular opinion, is a complex subject as there are scores of different acceptable materials and installation methods.   Regardless of the materials, the roof is only good as the roofer who installs it.   If any shortcuts are taken, you can look forward to “rain drops falling on your head” at any time in the future; usually at midnight, on weekends or holidays.

Written By Bob Peterson Licensed inspector and Owner of Precision Inspection. If you would like to read more of what Bob has to say please visit the Precision Inspection website.

“Recovery loses steam.” “Housing demand in a slump.” “Tax credit leaves mess in its wake.” We’re bombarded with headlines like these every day. Some have merit, some don’t. The truth is, the economy is now driving the housing market and not vice versa.

Pending Sales in the Austin region dropped by 14.6 percent from last July to arrive at 1,783. New Listings dropped a slight 0.4 percent since last July while overall inventory increased by 27.0 percent over last year to end the month with 14,545 homes available for sale.

Median Sales Price jumped 15.0 percent over last July to arrive at $215,000 yet buyers were only willing to pay 93.2 percent of a seller’s asking price. Market times did decline by 3.7 percent to land at 70 days compared to last year.

Months Supply of Inventory decreased 16.5 percent to arrive at 8.0 months, given current demand.

In sum, the housing market is trying to hold its ground until the job situation improves. Only after widespread, private-sector hiring will demand be restored to the market and prices can continue to stabilize. Until then, it’s a hurry up and wait game.

All data from the ABOR Multiple Listing Service. Reports are created and maintained by 10K Research and Marketing.

Recently I was interviewed for an article in the Realtor Magazine. The main topic of discussion was how to over come the challenges of using a Mac computer in the real estate world. I encourage agents to contact me if they are thinking about switching to Mac. Computers don’t have to be hard to deal with. Read the full article here.

I am interested in seeing how properties compare to averaged sales prices in specific areas.  Because was working on some numbers and I thought I would share them with you.  So I made a chart that I can update once a month.  Right now all I have is MLS areas, which may not mean much to non Realtors.  I will work on adding other metrics as time goes by.  Check back often for updates.

For a long time now I have wondered how real estate got so popular on Craigslist.  It is hard to find exactly what you are looking for because of the limited fields and repeated posts.  I find Craigslist a waste of time, but property owners love it because it is free to post there listings.  Turns out you get what you pay for.  Recently a story in San Francisco caught my eye.  A young woman, Rachael Smith, advertised her apartment for lease.  The only problem was that it was the apartment she lived in and not owned.

Over the course of a few weeks she showed the apartment as though she owned it.  She even collected rent deposits from people wishing to lease the apartment.  She collected deposits from over 20 victims totaling an estimated $100,000.  She has now disappeared leaving nothing behind but the empty bank accounts of those who she took the money from.  You can follow the story at either of these links. http://bit.ly/9wtIT7  Or  http://bit.ly/bsaTCt

All those property owners who love Craigslist because it’s free may want to think again.  How is a tenant going to know that you are not scamming them.  On the flip side how do you as the landlord know the tenant is not scamming you.  Property owner you will get what you pay for.

So who can you trust on Craigslist.  Well, maybe nobody.  If you have been following my blog maybe you have read other stories like Real Estate or Fake Estate, or my Deal Realtor letter.  I am not very happy with Craigslist.  For me it is nothing more than a breading ground for mistrust and misuse.  Even the posts by Realtors on Craigslist are often incorrect of misleading.  Watch out if you are leasing or buying real estate on Craigslist.

I am sure most Realtors and real estate investors are accustomed to looking at charts of average sales price over time.  Charts like this are all over the internet.  I have used them on my site as well.  They are a simple way of seeing historical trends.

Note the chart to the left of Austin real estate inventory.  It shows how the inventory has fluctuated over the last 20 years.  It does the job well.

This chart shows only one metric and it’s moving average.  We could stack other metrics on top of this graph and have numbers of lines or bars.  That all gets a little confusing.

It maybe time to break the bonds of the historical 2D data displays and jump into the pool of the real time 3d data streams.

Real estate data is amazingly detailed.  We know a lot about the houses you are living in.  We know so much that it might scare you.  All this data has hardly been used.  For example, we all track average sales price, inventory, and price per square foot.  These are simple and easy to follow.   Now with some new technology we can dig more in-depth to find patterns that other wise would be looked over.   For example; would it be interesting to see zip codes ranked by most 4 bedroom houses selling at or below the average price per square foot for the city?

Maybe you are interested in finding homes over 2500 sqft, zoned to a school which is rated high by greatschool.com, and selling 5% below average sales price.  Being able to compare multiple metrics of data quickly can help buyers and sellers make better decisions.

Example 1 : Freshness in the real estate market.  Here we have our homes displayed in a 3D landscape.  We have grouped these properties by MLS area.  The size or footprint is the sq footage of the home.  The height is the list price, and color is days on the market (red properties are older).  So properties that are green, short, and have a  large foot print could be the best deals.

Example 2 : We took the MLS area 8E, broke it down by subdivision.  Height is days on market, color is change in price from original list price (red homes have reduced there prices more than green homes), footprint of the building is list price.  So small (footprint), tall, and red properties; equals cheap, long time on the market, and dropping in price.

Being able to see all this info in the matter of minutes can help real estate investors drill down the properties worth looking at again.  I feel like we have hardly scratched the surface of what real estate data can tell us.  This is very powerful information that can help investors move very quickly. Aqumin’s, AlphaVision technology is already in use in the financial industry helping police the stock exchanges.  I wish I could have seen data like this last time I moved.  If you are interested in seeing how this can help you, please contact me.

I found a great comic strip on Theoatmeal.com.  The strip “what your email address says about your computer skills” is very interesting because I think it is completely true when it comes to a Realtor.

joesmith@agentsdomain.com = This agent is very technical, probably has a nice website or works for someone who does.  I would not be surprised if they could build custom web pages just for your search criteria that auto updates.  Also, may know how to do electronic signature and may have a paperless office.  A real echo warrior.  This agent writes a blog and tweets news about the market to his clients.

joesmith@gmail.com = This agent has picked the best independent email client out there.  For some reason or another he does not use his brokers email domain.  Maybe he moves around a lot.  He probable has a real estate website in a box.  Looks just like a few thousand other sites out there.  He will send you links to listings in your email and never when you are ready to look at them.  He likes fax machines because scanning takes to long.

joesmith@hotmail.com = This agent is new to the real estate market.  He has not lost any emails about your new house, but that will happen soon enough.  He is going to hand deliver all documents for signature and going to hover while you read them.  He bought a scanner when he got in the business; it is still in it’s original packaging.  He worked in the corporate world before this and had no reason to have an updated email client.

joesmith@yahoo.com = This agent may still have trouble with spyware; definitely thinks my-space is cool, and may send chain letter about bill gates to all his friends.  He reads a lot of books about real estate and keeps up with the news via news papers.  More of a traditionalist if you will.  He likes to be in front of his clients because he is a natural salesman.  Let meet at my office and go from there.  Face time is his motto.  (and no not the apple iphone app)

joesmith@aol.com = This agent is still living in the 90′s and still paying for AOL.  Bless them.  This is your part time agent, maybe part time stay at home mom or dad.  They don’t fax or scan.  They like originals if you know what I mean.  Everything hand delivered with love.  Emails to these agents will not be answered the same day.  Maybe answered tomorrow, unless it is a weekend, then not until Monday.

All of these agent will do a fine job for you.  I am just pointing out the difference in how they or we get things done.  There is no right or wrong way to do this job.  Clearly I think that my way is better, but that is really for the customer to decide.  To all the Joe Smith’s out there, sorry for picking on you a bit.

If you are looking for a Realtor in Austin, Please check out the rest of our site at www.neuhausre.com

Or call us at 512.922.7559

Section 9 of RESPA (12 U.S.C. §2608) states that:
1. No seller of property that will be purchased with the assistance of a federally related mortgage loan shall require directly or indirectly, as a condition to selling the property, that title insurance covering the property be purchased by the buyer from any particular title company.

2. Any seller who violates the provisions of subsection (a) of this section shall be liable to the buyer in an amount equal to three times all charges made for such title insurance

Sellers are no longer allowed to pick the title company which the title policy will be purchased. Since the buyer is the beneficiary of the title policy it makes sense that the buyer get to pick who issues the policy. Only if the seller pays all title and related closing cost can they pick who issues the title policy.

I have a simple way of looking at this. Seller should let the buyers or buyers agent pick the title company. The buyers agent is going to be way more involved with the title company than the sellers are. We are often waiting on the buyers lenders at closing, so it makes sense to use a title company that the buyers agent is comfortable with.

Another thing is that title companies fees are very similar. Plus $5 here and minus $15 there. When it is all said and done, I think it is a wash. Sellers don’t get too hung up on your agent not knowing the people at a specific title company. They all get the job done.

Showing properties 1 - 25 of 500+. See more city of Austin real estate.
(all data current as of 9/9/2010)

1. $234,144 : 12740 Council Bluff Dr, Austin
   
   3 beds, 2 full, 1 part baths

   Size: 2,168 sq ft

   Lot size: 7,143 sq ft

   Year built: 1998

   Parking spots: 2

   Days on market: 0
2. $197,010 : 11421 Brixey Ln, Austin
   
   4 beds, 3 full, 1 part baths

   Size: 2,419 sq ft

   Lot size: 7,797 sq ft

   Year built: 2003

   Parking spots: 2

   Days on market: 1
3. $121,500 : 12401 Los Indios Trl, Unit 49, Austin
   
   2 beds, 2 full, 1 part baths

   Size: 1,116 sq ft

   Lot size: n/a

   Year built: 2000

   Parking spots: n/a

   Days on market: 1
4. $145,000 : 13303 Wisterwood St, Austin
   
   3 beds, 2 full baths

   Size: 1,368 sq ft

   Lot size: 11,891 sq ft

   Year built: 1976

   Parking spots: 2

   Days on market: 1
5. $157,000 : 11628 Quarter Horse Trl, Austin
   
   3 beds, 2 full baths

   Size: 1,595 sq ft

   Lot size: 8,015 sq ft

   Year built: 1982

   Parking spots: 2

   Days on market: 1
6. $189,000 : 10500 Timbercrest Ln, Austin
   
   4 beds, 2 full baths

   Size: 1,944 sq ft

   Lot size: 8,581 sq ft

   Year built: 1976

   Parking spots: 2

   Days on market: 1
7. $239,000 : 1506 Weatherford, Austin
   
   4 beds, 3 full, 1 part baths

   Size: 2,612 sq ft

   Lot size: 6,359 sq ft

   Year built: 2008

   Parking spots: 2

   Days on market: 1
8. $387,500 : 207 Rivulet Ln, Austin
   
   4 beds, 3 full baths

   Size: 2,421 sq ft

   Lot size: 12,719 sq ft

   Year built: 2010

   Parking spots: 2

   Days on market: 1
9. $458,753 : 15204 Spillman Ranch Loop, Austin
   
   4 beds, 3 full, 1 part baths

   Size: 3,379 sq ft

   Lot size: 11,499 sq ft

   Year built: 2010

   Parking spots: 3

   Days on market: 1
10. $463,286 : 15308 Spillman Ranch Loop, Austin
    
    5 beds, 3 full, 1 part baths

    Size: 3,575 sq ft

    Lot size: 11,107 sq ft

    Year built: 2010

    Parking spots: 3

    Days on market: 1
11. $850,000 : 2108 Sea Eagle Vw, Austin
    
    5 beds, 5 full baths

    Size: 4,032 sq ft

    Lot size: 16,073 sq ft

    Year built: 2011

    Parking spots: 3

    Days on market: 1
12. $650,000 : 7200 Montana Norte DRS, Austin
    
    4 beds, 3 full baths

    Size: 3,368 sq ft

    Lot size: 18,425 sq ft

    Year built: 1971

    Parking spots: n/a

    Days on market: 1
13. $165,900 : 3316 Texas Topaz Dr, Austin
    
    3 beds, 2 full baths

    Size: 1,678 sq ft

    Lot size: 5,052 sq ft

    Year built: 1998

    Parking spots: 2

    Days on market: 1
14. $180,900 : 1310 Parmer W LN, Unit 1203, Austin
    
    2 beds, 2 full, 1 part baths

    Size: 1,461 sq ft

    Lot size: n/a

    Year built: 2010

    Parking spots: 2

    Days on market: 1
15. $344,500 : 6116 Gardenridge Holw, Austin
    
    3 beds, 2 full, 1 part baths

    Size: 2,002 sq ft

    Lot size: 4,573 sq ft

    Year built: 1980

    Parking spots: 2

    Days on market: 1
16. $179,900 : 503 Swanee Dr, Unit 4, Austin
    
    2 beds, 2 full baths

    Size: 1,072 sq ft

    Lot size: 10,977 sq ft

    Year built: 2010

    Parking spots: 1

    Days on market: 1
17. $55,000 : 6409 Chimney Creek Cir, Unit A-1, Austin
    
    3 beds, 2 full, 1 part baths

    Size: 1,236 sq ft

    Lot size: 3,833 sq ft

    Year built: 1971

    Parking spots: n/a

    Days on market: 1
18. $125,000 : MLS # 6387142 in Austin
    
    2 beds, 1 full bath

    Size: 960 sq ft

    Lot size: 12,196 sq ft

    Year built: 1932

    Parking spots: n/a

    Days on market: 1
19. $98,500 : 5712 Alsace Trl, Austin
    
    4 beds, 2 full baths

    Size: 1,144 sq ft

    Lot size: 6,446 sq ft

    Year built: 2003

    Parking spots: 2

    Days on market: 1
20. $239,900 : 5332 Agatha Cir, Austin
    
    3 beds, 2 full, 1 part baths

    Size: 2,252 sq ft

    Lot size: 6,664 sq ft

    Year built: 2006

    Parking spots: n/a

    Days on market: 1
21. $180,000 : 5709 Arroyo Seco ST, Austin
    
    2 beds, 1 full bath

    Size: 1,048 sq ft

    Lot size: 18,774 sq ft

    Year built: 1950

    Parking spots: 1

    Days on market: 1
22. $309,000 : 5601 Woodview AVE, Austin
    
    2 beds, 1 full bath

    Size: 830 sq ft

    Lot size: 10,236 sq ft

    Year built: 1948

    Parking spots: 1

    Days on market: 1
23. $329,000 : 1409 Luna St, Austin
    
    2 beds, 2 full baths

    Size: 1,440 sq ft

    Lot size: 8,232 sq ft

    Year built: 2007

    Parking spots: 1

    Days on market: 1
24. $149,000 : 3627 Manchaca Rd, Unit 102, Austin
    
    2 beds, 1 full bath

    Size: 995 sq ft

    Lot size: 1,829 sq ft

    Year built: 1983

    Parking spots: n/a

    Days on market: 1
25. $159,900 : 2020 Congress Ave, Unit 2122, Austin
    
    1 beds, 1 full bath

    Size: 650 sq ft

    Lot size: 958 sq ft

    Year built: 1964

    Parking spots: n/a

    Days on market: 1

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Austin, Texas
Austin’s funky, anything-goes lifestyle exists in stark relief with the traditionally conservative Lone Star State. But Austin is one of the nation’s most progressive and proactive entrepreneurial centers. Locals wear their “Keep Austin Weird” T-shirts with pride but, in reality, the city’s combination of art and commerce couldn’t be better adjusted.

$3.5 million: Amount the nonprofit Central Texas Angel Network invested in regional startups in 2009–10 of them in Austin

Tech savvy: Austin earned the nickname “Silicon Hills” for its emerging tech culture.

Don’t mess with taxes: Like the rest of Texas, Austin has no state personal income tax and no corporate income tax.

Population: 1,705,075
Median resident age: 29.6 years
Mean housing price: $274,373

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