This Should Make You Feel Good About Buying Real Estate in Austin

The 5 counties that make up the Austin metropolitan area (Travis, Williamson, Hayes, Bastrop and Caldwell counties):

●lead the nation in job growth during the last year - both in percentage increase and actual number of new jobs - wow!!

●Forbes magazine ranked Austin #1 in the nation on its list of best large cities/regions for job growth.

●Monster.com also named Austin as the #1 city in America for job growth.

●Kiplinger's Personal Finance magazine ranked Austin #1 in America on its list of Ten Best Cities for the Next Decade

●The Milken Institute ranked Austin #1 in America on its list of Best Performing Cities In 2009 where jobs are created and sustained.

●Porfolio.com ranks Austin #1 in America in its Small Business Vitality rankings for 2010.

●RelocateAmerica.com ranked Austin the 3rd best city in the United States to move to.

●America's Top 100 Places to Live For 2010 ranked Austin the 2nd best City in America.

●Airports Council International's survey of passengers at 118 airports worldwide ranked Austin's airport as #1 in North America - and #2 worldwide.

●The Brookings Institution named Austin as one of only 10 American Cities as a "Next Frontier" Metro Area based on exceeding national averages on population growth, diversity and educational attainment.

●The Brookings Institution also reports that Austin and Raleigh, North Carolina lead the nation in growth among "pre-seniors" (55 to 64 year olds) - translation, Austin area is a great place to retire.

●Add on top of all of that Samsung's recently announced $3.6 Billion direct investment for Phase 2 of its semi-conductor fabrication plant in northeast Austin - the largest private capital investment so far this year in the U.S. - and in the top ten largest private capital investments in America in the last decade - creating 500 new, high paying permanent jobs and more than 1,000 construction jobs - and total payroll of $105 million per year - double wow!!

●Plus Hanger Orthopedic, Pioneer Surgical, Face Book, Legal Zoom, Formula One Racing.........all coming to Austin.

Even two of our local bars took best of show in Playboy's best places to drink list,then there is the news that Dell sales up 19%, reclaims No. 2 ranking on the world’s computer maker ladder.

Do You Know This About Austin?

I am amazed at the press that circulates about the economic viability of Texas and Austin in particular. During the past week Austin ranked HIGH on 'Quality of Life' in a new study released by Portfolio.com. Stated in the report, Austin ranked highest on the job opportunities for young adults, Houston taking the 5th position and Dallas 7th. In another report released by NEWSMAX, Texas ranked numero uno for business, the result of a recent survey of CEO's and stating that "Texas is pro-business with reasonable regulations. The article went on to mention that Texas is where 70% of all new U. S. jobs created since 2008 are based.
There is more -- Kiplingers just released an article ranking the top 10 cities in the nation for the next decade. Guess which city is #1 – A town. The article states that while smart people and great ideas charge a city -- collaboration supercharges. Another characteristic that is usually always mentioned when referencing Austin -- it is just a fun city to live, work, play and visit.

Tax Credits are Kaput -- Bond 77 to the Rescue

When I first heard about this program, I was worried that the average home price in Austin, which is around $180K would not qualify, but it does. Note the lofty limits below.

TDHCA Bond 77 Map Search/Program Details
This program is NOT for investors, second homes, and multi-family
Areas in blue are considered “Targeted” areas by the TDHCA; all other areas are considered “Non-Targeted” areas.
Austin Map

TDHCA Bond 77 Program Details
The TDHCA (Texas Department of Housing and Community Affairs) has rolled out a new bond program to assist buyers with their down payment when purchasing a home. “Bond 77″ is its largest financing allotment to date and is an incredible 500 Million in funds, released monthly in 50 million dollar increments. This program comes just in time to fill the void left behind by the Federal $8,000 home buyer tax credit which expired April 30th. With liberal income limits and availability to both existing home buyers and first time home buyers alike, this affordable alternative for down payment assistance will surely be a hit. Below I have listed some of the major details – for more information feel free to email me at John.McClellan@SupremeLending.com or simply fill out the form above.

Are You Eligible?
There are income Income limits:
• Targeted areas (Location determine using Census Tracts, use our maps above)
o 1-2 persons = $87,960
o 3+ persons = $ 102,620

• Non- targeted areas
o 1-2 persons = $73,300
o 3+ persons = $84,295
• “Income” is defined as: the sum of the current monthly income of the mortgagors and anyone both living in the property and listed on the Deed.
• “Targeted Areas” are defined as: a census tract in which 70% or more of the families have incomes that are 80% or less of the statewide median income or an area of chronic economic distress, see maps above.


Property Price limits:
• Targeted areas: $316,177
• Non- targeted areas: $258,690
Other Details:
• Targeted areas: First time home buyers OR previous homeowners
• Non- targeted areas: First time home buyers only
• Choose either below market interest rate OR 5% down payment assistance
• No interest, no payments, note balloons in year 30
• NOT for investment properties, vacation homes, apartments, or multifamily