BOERNE, TX IN TOP 100 BEST PLACES TO LIVE
Money magazine has listed Boerne as a finalist in their list of top 100 Best Places to Live.Also, Progressive Farmer magazine listed Kendall County as the fifth best rural places to live in the United States.
While Boerne has experienced healthy growth, in spite of local protest groups, the area has been one of the most desirable communities in the Texas Hill Country.

Local governments have struggled with keeping up to the demands on services and the school system continues to adjust for the increase in student population.

All things considered, Boerne has a strong local economy and is expected to continue into the future.

ECONOMIC DEVELOPMENT
Christa Santa Rosa Health Care has announced they will build the first hospital in Kendall County on the south side of Boerne on 37 acres along Highway 87.

It will include emergency care facilities as well as inpatient and outpatient care.

Methodist Hospital has previously announced plans for a medical center in Boerne. It will consist of approximately 70,000 square feet of integrated medical space which will contain physician offices, imaging and radiology services and a large hematology/oncology space as future tenant improvements. When fully built, the campus may comprise as much as 350,000 square feet in four buildings.
Rumors of an Olive Garden restaurant keep surfacing but no concrete evidence has developed as of this date.

Construction has begun on the infrastructure for the new high school on Hwy 46 East.  Also, the "makeover" for the Boerne Middle School on Johns Road is under way.

There is a new Lammes Candies store located in HEB. Selections are wonderful.

On Main Street... the Giddens building has been completed for the eleven-room Inn and Commercial site.

 

The 11,432 sq.ft. "Little Smiles Dentistry"  will soon be completed on School Street.

Menger Springs retail center is under way on south Main (Hwy 87) and the new Sherwin-Williams Paint Center is near completion. Guaranty Bank now has their new building under construction and a new Thai restaurant is scheduled to open soon in the same complex.

The State Farm Insurance building is under construction on E. Bandera Street. Rumor has it that all office space has been leased.

Texas Composit Manufacturing is adding an aditional 40,000 sq.ft. at their facility on North Main (Hwy 87).

The new Toyota dealership is now completed near IH-10 and Scenic Loop road and has officially opened.

YMCA is ready for customers in their newly remodled 21,500 sq.ft. building.

 

 

 

HOME BUYERS ARE CONFUSED
Recent studies have shown many home buyers are perplexed about the process when buying a home.

More than one in 10 buyers don't know the difference between 'home owners insurance' and 'title insurance.' Also 20% forgot to budget for home ownership expenses such as reoccurring yearly taxes, insurance, homeowner's association dues and maintenance.

Nearly one third of buyers were unaware that real estate agents can represent both buyer and seller in the same transaction as 'dual agency.'

Twenty-four percent did not know that a mortgage preapproval letter gives you an advantage over buyers who have not been approved for a loan.

For information about commercial, development and investment opportunities in Boerne and Kendall County contact Phillip Bell "The Investment Realtor": Cell: 210-415-8483, e-mail:pbell@texas.net

Section 1031 of the Internal Revenue Code allows investors to maximize profit and preserve net worth by exchanging property... tax deferred... and in some cases... tax-free.

I have helped many clients and investors dispose of property... pay no taxes... and purchase replacement property of equal or greater value.

There are several reasons to use 1031 Exchange: (1) to obtain property with more potential to appreciate (2) to alleviate joint tenancy or partnership problems (3) to reduce management problems by exchanging into a management-free property (4) diversify properties (5) to consolidate property, and (6) for estate planning.

A real estate investor may avoid paying taxes on the profit at death. The heirs, in most cases, will inherit the property with a stepped-up basis, avoiding gain altogether.

When investors "exchange" instead of "sell," capital gains are deferred if all the exchange proceeds are reinvested in the "replacement property." Proceeds that are not reinvested will be taxed.

The 1031 tax code benefits those with investment property or business use property. Your homestead is exempt from 1031 treatment; however, under tax code 121, a married couple can sell their home (up to $500,000) tax-free.

Give me a call at 830-816-2660 to discuss the advantages of buying, selling and exchanging real estate. If you are interested in attending a seminar in Kendall county about 1031 Tax-Free Exchange... E-mail me at pbell@texas.net

One fact I like to share with a buyer is that fixed rate doesn't mean house payments never change. Homebuyers who may not realize that while their mortgage rate is fixed, insurance and property taxes can skyrocket. Without this knowledge, they may fail to plan for rising house payments.

Home prices across the country are rising at record rates. This year home prices rose 8 percent. In some areas, home prices are rising at outlandish rates of 25 percent or more.

Buyers could be impacted with higher assessments within a few short months of buying a home. If the buyer is buying at the top of his or her ability, an unexpected couple of hundred extra dollars a month could be painful, especially if the lender fails to escrow the right amount in time, and has to escrow an even larger amount to make up the shortfall by the time taxes are due to be paid.

In Texas and California, many homeowners were just slapped with a 45 percent increase in insurance premiums.

Warning buyers that large jumps in insurance and property taxes is only prudent.

Escalating house payments are particularly unwelcome when buyers are stretching their resources to make the home livable and attractive.

Call me for more information.

Housing as an investment has come to the forefront.

A lot of money has been funneled from equity markets into the housing market. People have cashed in their chips and bought larger homes.

Likewise, debt consolidation has been healthy for the mortgage market. Consumers are trading in their high credit-card debt for home equity loans, which promise both lower interest rates and the benefit of a tax reduction.

Another factor impacting the mortgage market is the decision by Fannie Mae and Freddie Mac to raise the single-family conforming-loan ceiling from $275,000 to $300,700, a 9% increase, making it possible for a larger number of homeowners to secure lower-cost financing. Call Phillip or Marilyn Bell at 816-2660 for additional information and advice.

Before shopping for a new home it pays to check your credit report and make sure it's accurate. If you spot any errors or problems, correcting your credit report can be a lengthy but worthwhile effort when buying property.

If your credit just isn't up to snuff, there are steps you can take to strengthen your credit profile. There are lenders for folks with less-than-perfect credit.

Your credit report is a profile of your lifestyle and character. If it is incorrect, you won't get a loan -- and if you do get a loan, you'll pay more than someone with good credit.

What happens when good credit goes bad? A little irresponsible fun with credit now can affect your life for years to come. But you may be able to salvage your credit rating.

Fixing your credit report is very important and should be top priority.

Disputes with creditors can be annoying, especially if something wasn't your fault. Knowing how to resolve an issue is good for your wallet... and peace of mind.

Remember... anyone can help you find a house... we help you find the money... and you can only get the money if you are credit-worthy. Call Phillip or Marilyn Bell: 816-2660

Buyers can build a home that fits their needs and lifestyle with the assurance their investment is worth the time and money.

For professional builders in the Boerne area, give me a call for lots, land and contractors: 210-415-8483.

Lawmakers are struggling with water needs and water for the future.

According to new Kendall County guidelines, the minimum lot size for property in a new platted subdivision is 3 acres. However, the area required to support an average single family household for a private wells is 5.78 acres.

Wells are required to be 150 feet from the septic system and should be cased to the water level.

Water in our area is supplied from the Trinity Aquifer, made up of three geological strata: the Glenn Rose, Hensel Sand and our most reliable water source, the Cow Creek.

The Cow Creek Groundwater Conservation District was approved by Kendall County voters. A property tax up to three-cents per $100 assessed valuation could be established by the district.

The most requested information in our county is about septic systems.

Thirty-seven percent of new housing in Texas is for individual on-site systems. The Texas Commission on Environmental Quality (TCEQ, formally the Texas Natural Resource Conservation Commission (TNRCC, strengthened regulations in 1997 and again in 2001.

Septic systems must be installed correctly with consideration given to soils that can do an excellent job of removing contaminants and treating wastewater.

I have information in my office that can benefit property owners. E-mail me: pbell@texas.net

Home warranties pick up where insurance leaves off. If you're involved in buying or selling a house, a warranty can be a big help, providing coverage for plumbing, heating, air conditioning and major appliances.

Traditionally, home warranties have protected homeowners from repair costs that aren't covered by home insurance, especially the inner workings of a home -- the plumbing, heating, air conditioning and major appliances. Home warranties are often crucial in real estate transactions because they help home buyers as well as sellers rest more easily, safe in the knowledge that an unforeseen problem with a furnace won't spark a financial conflict, postpone a real estate closing or -- worse -- blow a deal altogether.

When you buy a home, you take on the burden of maintaining a variety of systems and appliances and their idiosyncrasies. Sellers are required to disclose known problems, but can't be blamed for appliances that break down six months after the sale. That's when a home warranty goes to work.

Home warranties are service contracts, typically lasting one year, that cover the repair or replacement of major home systems and appliances that break down due to normal wear and tear. Home warranties don't overlap or replace the homeowner's insurance policy. The warranty covers mechanical breakdowns, while insurance typically repairs the related damage.

Generally, home warranties cover malfunctions of major appliances such as washers, dryers, ovens and refrigerators, as well as plumbing, electrical, heating and air-conditioning systems. In some cases, or for additional fees, the warranty might extend well and septic.

Whether the house is two years old or 10 doesn't matter as far as coverage is concerned, as long as the covered items are in good working order at the start of the contract. We negotiate home warranties in most of our transactions. We welcome the opportunity to represent you in your next transaction.

Call Phillip or Marilyn at 830-816-2660.

Rental units in the Boerne area have rendered a new value as the business community prospers Affordable housing continues to plague the working class and investors beg for opportunity with income-producing property. It is obvious that construction of single-family homes and apartments are desperately needed in our area and are a great investment.

Nearly half of apartment dwellers say they choose to rent because it "suits their lifestyle," and they look for three things when choosing an apartment or home... an attractive price, location, and design... according to a new survey of renters by (NAHB) the National Association of Home Builders .

Renters give the same reasons for renting as home buyers cite for buying their homes: cost, location, and design.

In fact, apartment size is key for renters choosing an apartment or townhouse. Multifamily home builders have obviously reacted to this preference over the past two decades, with the average size of an apartment home increasing from 900 square feet in 1980 to an average of ,100 square feet in 2000. Still, the survey found, apartment residents would like even larger apartments, with 34 percent saying they would prefer at least 1,400 square feet. Kitchen design and the number of bathrooms in the apartment were also key features that attract apartment residents.

The great majority of renters are 25-34 years old, and those 65 years or older (each represent almost a quarter of the rental population). About 28 percent of the renters surveyed earn more than $50,000 per year. According to NAHB's survey, apartment renters move frequently, on average every two years. NAHB data also showed that most new apartment residents were households moving from one rental unit to another, although a substantial number were the result of new construction.

If you are looking to develop or invest in the Boerne area rental market, call me to discuss this opportunity: 816-2660

I have helpful information and advice.

(per $100 value)

Boerne... .4522
Fair Oaks Ranch... .2670
County... .3800
Boerne ISD... 1.6600
Comfort ISD... 1.4800
KCWCID#1... .2700

Exemptions: Homestead, Agriculture, Wildlife, Homeowners w/ Disabilities, Disabled Veteran or Survivor, Cibolo Conservancy

Buyers working with custom builders should not assume they are protected by a warranty. It is very important to have, in writing, a clear understanding what the builder is responsible for.

Actually, in Texas, buyers are not protected by a guaranteed warranty.

This matter was brought to light by the November, 2002 case. Centex Homes vs. Michael Buecher. Buecher and other homeowners signed a sales agreement prepared by Centex. The homeowners allege that the agreement contained a one-year limited express warranty in lieu of and waiving the "implied warranties" of habitability and good and workmanshiplike construction. Centex would not sell the property to purchaser without this waver. However, plaintiffs sued Centex alleging fraud, misrepresentation, negligence, and violation of the Texas Deceptive Trade Practice Protection Act regarding the construction and sale of their new home.

Implied warranties are to protect home buyers who lack the ability and expertise to discover defects in a new home. Buyers expect to receive a house that is structurally sound, habitable and free of hidden defects. The implied warranty of habitability is thus an essential part of a new home sale with the burden placed on the builder and waived only to the extent that defects are adequately disclosed.

Warranty issues should not be taken lightly and further justify using an experienced REALTOR to represent you with the transaction. Give us a call at 830-816-2660 x113.

Mold and mildew are fungi which are microscopic organisms that break down dead plant materials and use them for food. Mold has been around since the beginning of time. It is even mentioned in the Bible: Leviticas 14:35-48.

In homes and other structures molds grow in moist areas as a result of water leaks. This has caused insurance rates to skyrocket.

Property owners are forced to address this issues before they purchase or sell. Insurance coverage could affect the transaction. Call Marilyn or Phillip Bell for Real Estate assistance.