Featured Listing: 5203 Beechmoor Drive, Austin, TX 78723

East Austin Groovy at Its Finest!

As a Realtor, some houses you come across are just ultra cool and hip in an (almost) effortless way that shines through beautifully with just the teensiest bit of zhushing.   My listing at 5203 Beechmoor Drive is one of those houses.

Built in 1966, this single story, 3 bedroom, 2 bathroom home located near 51st & Manor Road features two living spaces and an ultra cool mid-century modern vibe that showcases perfectly the sellers’ quirky/sophisticated style and brings to life everything to love about this area and the local aesthetic.

It sits on a corner lot just shy of 1/4 acre and includes fantastic entertaining/living space outside with plenty of room to accommodate any buyer’s ideas on expansion.

Located just minutes from downtown and Mueller, this must-see home is the epitome of East Austin groovy!

For more details on this home (and a 3-D interactive tour), please click here or reach out to me to schedule an appointment to view.

 

Featured Listing: 2106 Sombra Cove, Austin 78744

Cozy & Charming in Southeast Austin

As a Realtor sometimes you come across a home you can see has real possibility but is in need of some serious TLC to fully tap into its hidden potential. Such was the case with 2106 Sombra Cove, an absolute gem of a home, a true diamond in the rough that just needed some good lovin’.

When I took on this listing I knew it would be a lot of work to get it market ready, and it proved to be all that (and then some).  But after pulling together a hardworking team to replace flooring, repaint, repair, clean and stage it, we were able to bring out all of its charm!

At 1,583 square feet, this 3 bedroom, 2.5 bathroom, 2-story home has a really thoughtfully laid out floor plan, with kitchen, dining and living areas, plus a half bath all located downstairs.  All three bedrooms, two more bathrooms and the laundry room are located upstairs.  The pie-shaped lot (.14 acres) sits on a quiet cul-de-sac and is located next to a protected wildflower meadow and retention pond, giving it marvelous views from almost every window!  The home also features a one-car garage and an extended driveway to accommodate 2 additional vehicles.

Southeast Austin is an up-and-coming area, close to downtown, SoCo, Mueller and the airport.  As with all of Austin, home values have been steadily climbing, but are still quite affordable.

If you’d like more information on this listing, please see the property website or contact me by phone or email.

Austin MLS #8738149

What Lower Interest Rates Mean For You

In REAL dollars and cents

As I write this, interest rates are close to the lowest they’ve been in 3 years, making this a GREAT TIME to buy (or possibly to refinance your existing mortgage).

As an example, I created a little side-by-side comparison of a 30-year fixed conventional loan, using a $300,000 purchase price, 20% down payment, and a buyer with a 740 credit score – your interest rate could be as low as 3.625% in today’s market!

Comparing that to the exact same loan with a 4.875% interest rate (which is where rates were at 3 years ago and is still a great rate in itself, especially when you look at the big picture of mortgage interest rates over the last 30 years  ** for details on this keep scrolling down **) and notice the difference in monthly payment:

 

 

 

 

 

 

 

 

 

 

Now obviously, your individual credit score and down payment amount, as well as the loan type you’re using will impact your interest rate, but you get the picture — using the example above that’s a monthly difference in payment of $176!

Next, of course, we need to talk about how that same difference in interest rate effects the amount of money you’d be paying in interest over the life of the loan: it would cost you over $63,000 MORE with a 4.875% interest rate versus a 3.625% rate on that same $240,000 loan — and that’s not nothing!

Historical Perspective

For a quick trip down memory lane you can click on this interactive chart (provided by one of my favorite lenders, Cheryl Bullard at Premier Nationwide Lending) to see what interest rates have been doing over the last 30 years, and you’ll see what I mean when I say that that 4.875 rate is still nothing to sneeze at. (Seriously: look at where we were at in 1989!)

If you’d like more information on this topic or are ready take advantage of near historically low interest rates I’d love to chat with you about it.  You know where to find me! 😉