Home Loan Assumability is Making a Comeback in Bastrop

Posted on May 8, 2014

Sell or Buy David Board is your Guy!

As interest rates slowly increase, we’re starting to see more and more buyers in Bastrop, TX taking advantage of assumable home loans to make the purchase. Mortgage assumability is a feature that enables homebuyers to take on the loan previously obtained by the seller. The catch here is that the buyer has to pay interest at the same rate as the seller did. This feature is limited to mortgages that are covered by the Department of Veterans’ Affairs (VA) or the Federal Housing Administration (FHA). If you have a loan insured by either of these government bodies and are looking to sell your home, now is the time to market the mortgage along with the home. With interest rates increasing, this is a convenient option for potential home buyers in Bastrop since the seller may have obtained the mortgage at a rate lower than the prevailing one in the market today. Aside from the cheaper mortgage payment, there are a few other benefits of home loan assumability for the buyers.

The buyer doesn’t have to pay the additional processing fees charged by lenders when originating a new home loan. There are many charges and expenses associated with getting a new mortgage that are completely avoided.

The buyer doesn’t have to get the house appraised (and pay for this expense). Many buyers may still bear this expense voluntarily but its not a requirement when taking advantage of an assumable loan.

A recording tax may not have to be paid. A recording tax is normally paid each time a mortgage is obtained on a property. In this case, since a new mortgage is not being originated, a new tax will likely be avoided altogether.

Since some part of the loan would have already been paid off by the seller, it is likely that a larger chunk of the mortgage payment goes towards paying off the principal amount.

These are some of the benefits for homebuyers to assume home loans when buying a new home in Bastrop Now this may not turn out to be the best option for all buyers. For instance, if you are looking to buy a home for the first time, you might not be able to get 100% financing. Let’s say the value of the house is $150,000 while the seller owes $100,000. You will have to make up the difference of $50,000 by paying cash or by negotiating with the seller for seller financing.

Buyers also still have to undergo the standard screening process for creditworthiness by the VA or FHA. Finally, the buyer has to waive the seller off all future responsibilities and obligations pertaining to the loan.

In a market where interest rates are on the rise, home loan assumability is a great option for buyers. Interested in learning more about how you can take advantage of this? Give me a call and I’d be happy to discuss.

1713 Roosevelt St. Bastrop, TX

Posted on April 10, 2014

Take the Virtual Tour

This completely remodeled 4-bedroom, 2-bath 1984 sf +/- home at 1713 Roosevelt St. in Historic Bastrop, TX just hit the market at remarkable price of $245,000. Believe me when I say you surely don’t want to pass up the opportunity too see this home. If you’ve been thinking about making a move than I would suggest this home that’s located in what has been historically referred to as the “New Addition” of Bastrop. This home was originally built in 1967 and remodeled in March and April of 2014. Here are just a few of the upgrades you will see: Quartz soft stone counter tops, parquet and tile floors throughout, recessed lighting, stainless steel appliances, walk-in tile shower in the master, custom paint and trim, large walk in panty and laundry room located just off the kitchen. A 480 sf detached studio/guest house in backyard was also remolded and is great bonus. Just out the backdoor you’ll find the oversized lot with an open circular patio with a covered arbor and plenty of room for family barbecues and entertaining friends. The front and back yards are fenced on three sides and the flowerbeds and private garden areas are professionally landscaped complete with walking stones and sidewalk.

Although this home is located in the “New Addition” of Bastrop it was actually developed in the late 1940’s and was home to many of the 90,000 US soldiers stationed at Camp Swift. Camp Swift was the largest army training and transshipment camp in Texas. It also housed 3,865 German prisoners of war. The history of this neighborhood runs deep and many of the homes were past down to family members who still occupy these homes today.

So when thinking about this home just consider this, you’re buying more than a home, your buying a piece of Bastrop’s rich history near the banks of the Colorado River in one of oldest cities in Texas,

Is it Illegal to Pick Bastrop Bluebonnets

Posted on March 30, 2014

Bastrop, Texas Bluebonnet

While all of us Texans admire the majesty of our state flower during their blooming season each year, we all seem to share the belief that picking and removing the bonnet is wrong. I knew this to be true from a very young age. Like an old folk tale, my family would insist that true Texans don’t pick the beautiful flower, and that it was certainly illegal to do so. I respected my Texan culture, so I never questioned this ordinance protecting our flower. After pulling over to take a closer look at the Bluebonnet blankets hugging the country highway, I decided to also take a closer look at this supposed law. Something about this season’s bloom made me realize that, now that I’m an adult, I’ve never actually fact-checked what so many Texans assume. It seemed to me that I had yet to actually see any proof. I (of course) brought my dogs Bailey Boo and Kassie with me to go see the wild bonnets off the freeway [pictured above.] They sure didn’t seem to mind uprooting a few of the precious stalks as they pranced back to my car. Maybe the Shih Tzu’s know something I don’t… What do you think? Is it illegal to pick Bluebonnets in Texas?

I took these questions to Google, and, as it turns out, picking the wildflower isn’t illegal at all. According to the Texas Department of Transportation’s website, there is no law against it. However, there are laws against criminal trespass, so make sure you’re not on private property when you stop to take your annual kids-in-the-bluebonnets photo. Additionally, there are laws against damaging or destroying rights-of-way and government property, so don’t dig up big clumps or drive your car through them. Be careful when slowing down and pulling off the road to get to the good spots, as there are laws against impeding traffic as well. Pick an area with light traffic conditions. While staying parallel to the direction of traffic, park a little further than the shoulder. Never cross major roads, and always obey signs that prohibit parking on a particular stretch of roadway/property.

(You can find bluebonnets along highway 71 between Austin and Bastrop. Other good spots in Bastrop include: near Tahitian Village, down highway 304 just past Jacob’s Landing, and Cassena Ranch.)

The Bluebonnet is truly a remarkable piece of Texan history and culture. Please be responsible if you choose to pick the flowers. They may be wildflowers, but they were planted along the highways by Texan ancestors who hoped the Lone Star State would shine with blue and white beauty for generations to come!

Buy or Sell a Bastrop Business

Posted on March 18, 2014

Are you looking to open your own business in the Bastrop, Texas area? Well, your search could be over. Bastrop, TX has been home for me for over 25 years so needless to say I know the people and the area very well, an important attribute when selecting a realtor. Bastrop offers a variety of storefront buildings for sale or lease in the Historic Downtown area. If you prefer to be on the Hwy 71 corridor, no worries there are plenty of buildings for sale and/or lease there as well.

You will have the best business neighbors possible from the quaint antique shops, mod boutiques; gift shops, insurance companies, law firms, bakeries, restaurants, banks and Health Care businesses. The Bastrop Chamber of Commerce and the Downtown Business Alliance are priceless assets that help to support any business venture you choose. They strive to make the downtown area the best that it can be and helped make Bastrop a Distinctive Destination, a Bastrop Main Street City and the most Historic Little Town in Texas. The marketing and advertising strategies utilized by these organizations can be a huge benefit your company.

The Bastrop Economic & Development Groups growing Bastrop Business and Industrial Park has commercial land for sale and lease to meet most business needs. Bastrop’s own Deep in the Heart Art Foundry is located in the park and makes for a great artful lunchtime get away. The Bastrop County Sherriff’s Office is also located there and with its presence added security. Both the downtown area and the industrial park are just minutes away from State Highways 95 and 71 and a short jaunt into Austin and the Austin Bergstrom International Airport.

Let David Board be your real estate agent business partner. Contact me today to discuss what options are available to you. I will find the best locations to show you, give you a tour of the area and a little bit of the history that makes Bastrop so special. I will work with you to make the purchasing process as smooth as possible. Bastrop is a unique community that is constantly growing and will welcome your business. I look forward to earning your business.

Cassena Ranch Bastrop, TX

Posted on March 14, 2014

Cassena Ranch in Bastrop, Texas–is a gorgeous 80- acre planned community neighborhood that exemplifies the best of country living. If you are in the market to purchase or build a custom home in a restricted neighborhood only 25 miles from the Austin airport this may be just the place you’ve been looking for.

Please allow me to introduce myself, my name David L. Board and I’m licensed real estate professional specializing in Bastrop and surrounding areas. I have lived and worked in Bastrop County for over 25 years and I call Bastrop home. Cassena Ranch offers custom site built homes and on lots over 1-acre utilizing the builder of your choice. Cassena Ranch is located just a mile off Hwy 71 on Hwy 304 and only minutes from historical downtown Bastrop, the Colorado River and shopping areas Burleson Crossing and Woodland Village. Bastrop is growing and adding the best services an area can ask for like a new hospital, medical clinics and physical therapy centers for all of your medical needs.

If you are interested in the fine arts , The Jerry Fay Wilhelm Center for Performing Arts is a state of the art amphitheater with the best acoustics around. The Center hosts community concerts both choral and instrumental, Ballet Folklorica, Educational programs and dance recitals. The Bastrop Opera House hosts operas, musicals, and plays of a wide variety. We also have a state of the art movies theater, bowling and miniature golf.

I have a team of of lenders, title companies, home inspectors and home warranty companies to guide you through the entire purchasing process to ensure a smooth transition for buyer and seller alike. I will work with you to market and sell your property and to find the perfect home for you and your family that meets your work/life balance needs and your budget. What are you waiting for? Give me a call today to discuss what options are available and to schedule an appointment to see what I can do for you. I look forward to earning your business.

The Value of being Pre-Approved

Posted on March 11, 2014

David Board’s Pre-Approval Video

Pre qualification for a home loan is a lenders best guess at what you can afford but it’s not a guarantee. Pre-Approval on the other hand is a firm commitment from your lender based on your actual finances. If you know what you want Pre Approval can insure you get the home that you want. If you are thinking about purchasing a home in the Austin or Bastrop, TX areas and you don’t have the cash in the bank to out right purchase the home, then we need to get you Pre- Approved. If you don’t have a lender that’s ok too because I have several very reputable lenders that I work with extensively with that can help you get approved usually over the phone by asking a few questions about your current income and employment status. Its a very quick and painless process that can be done over the phone and without you ever having to take time off work to drive to their office. If you want to know more about the Pre- Approval process or about purchasing your next home be sure to give me a call.

Cedar Creek Country Home

Posted on February 24, 2014

Home Virtual Tour

This is awesome custom manufactured home located in High View Ranch subdivision in Cedar Creek, Texas was built onsite with custom home construction, materials and standards. This beautiful home has double pane windows, solar screens, custom wood cabinets, kitchen island, breakfast bar and a wood burning fireplace for those romantic winter evenings. This home sits on approx. 2.596 acres completely fenced and crossed fenced for goats or horses and the home is placed on a concrete slab making FHA/VA a financing option. The property is has several storage buildings and a guest quarters complete with a fully functioning bathroom perfect for overnight guest or a small rental. High View Ranch is a large subdivision located in Bastrop County and is only 10-miles for Circus of Americas Formula Race Track and just a short drive to the Austin Bergstrom Airport. Agents and buyer this owner is motivate to sell this home and all offers will be considered.

Keller Williams Realty- Family Reunion-Phoeniz, AZ

Posted on February 20, 2014

My name is David Board and I’m a real estate agent representing clients in Bastrop and Austin, TX. I just returned from the Keller Williams Realty Family Reunion in Phoenix, AZ. This conference is one of the largest real estate conferences in the world and I heard from some of the best in the business. Keller Williams gathered over 10,000 of its top real estate agent professionals to share the best strategies and technology for helping buy or sell your home. If your thinking of moving please contact me today at 512-629-6107

Keller Williams Realty Family Reunion

Posted on February 18, 2014

Keller Williams Realty Family Reunion.

Bastrop Tradition: Happy Holidays

Posted on December 6, 2013

Home for the holidays? It really has special meaning when you find the perfect home for you and your family. As you unpack your lives, dreams, and settle in the wonderful and historic community of Bastrop, Texas bringing with you old family traditions and starting new ones as you begin your new adventure in Bastrop.

Bastrop’s River of Lights Walking Trail

One of the most treasured Bastrop traditions that take place each year is the River of Lights Walking Trail. The trail takes place in Fisherman’s Park which is along the Colorado River. It continues for half a mile to Ferry Park. It has been popular since its inception, with over 100 sponsors in the first year. Each year, area merchants, businesses, churches, community groups and individuals decorate trees with lights, garland and all of the trimmings and set up lighted Christmas and Holiday displays. There are many individuals who sponsor a memorial for loved ones or simply want to decorate one of the trees in the park. There are about 20 various school groups, Band Boosters, PTA, Boy and Girl Scout Troops, 4H Clubs and other community groups set up stands along the trail selling cookies, hot chocolate and coffee to raise money for their projects. This is a great healthy tradition to enjoy a stroll along the River of Lights after your holiday meals. The half mile trail is open from the Friday after Thanksgiving evening until New Years Eve.

Bastrop. Texas is located on Highway 71, a short ride from the Austin Bergstrom International Airport and Austin, the States Capital. If you’re interested in a personalized tour or real estate consulting in the Bastrop area, set up an appointment with me. I have the resources to guide you through the sometimes complex home buying process and I will do my very best to ensure a smooth transition for you and your family.

Bastrop’s River of Lights Walking Trail

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