The Gibbs Team

512-431-2403

Mary Lynne Gibbs

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296 Limestone Trail • MLS #3231288

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296 Limestone Trail (MLS #3231288) – a charming, two-story home in Village at Ledge Stone right past Nutty Brown on Hwy 71 towards Dripping Springs – sits on a greenbelt lot in a private gated, kid friendly community.

This area is known for its incredible Dripping Springs schools! The community is a very sought after, tight knit community where neighbors are more like family. Enjoy many community amenities to include your own club house, community pool, play ground, jogging trails, and much more! It is just far enough out to beat the city traffic and to also see all the stars at night! You will love the twilight glimpses of white tail deer and being in the serene hill country just minutes from downtown Austin. There are also tons of restaurants, shops, and entertainment nearby.

Offered at just $300,000, this fo_30A7923_4_5_6_7_fusedur bedroom and three bathroom home is quite the find and priced to sell quick! Interesting enough, 296 Limestone Trail has an Austin address but is in highly acclaimed Hays County. Those looking in this area will love that the home and neighborhood features natural gas, which is much cheaper than propane in many of the surrounding communities like Belterra!

Built in 2007, tax records show a square footage of 2205. 296 Limestone Trail is light, bright, and has an open concept floor plan with a lovely covered patio that looks out to stunning hill country/ greenbelt views. Covered with a composition shingle roof, this home contains a variety of exquisite characteristics that you will be delighted to discover.

For example, the formal dining room when you first enter the main level foyer leads to a sizable chef’s eat-in kitchen featuring stainless appliances, a custom stone wall over a gas top stove with an attached breakfast area and breakfast bar. 296 Limestone Trail boasts Corian-type countertops, a self-cleaning oven, recessed lighting and has lots of room to grow, lounge or entertain guests._30A7713_4_5_6_7_fused

Throughout the home you will find inviting colors, fancy fixtures and well kept flooring to include tile, carpet and floating wood tile. The kitchen opens to the family living area with recessed lighting and lots of windows for a comfortable and relaxed atmosphere. Also downstairs is one of the three secondary bedrooms and bathroom.

The master and other two secondary bedrooms are located upstairs along with an office nook perfect for working from home. The two extra bedrooms upstairs are spacious and connected by a large Jack-and-Jill type bathroom.

The master bedroom is suited for a king-sized bed, along with several more large pieces of furniture and the bathroom is absolutely magnificent! Featuring a large walk-in shower and garden tub, the master bathroom contains his and her vanities and a dressing area._30A8073_4_5_6_7_fused

Built by award winning Lennar Home Builders, other features include a smoke detector, window treatments, gas dryer connection and gas water heater. You will fall in love with this cozy and comfortable home. It is move-in ready and will not last long! Easy to show! Come check it out!

If you are interested in 296 Limestone Trail or buying/selling real estate in the Austin or surrounding areas, please contact Mary Lynne Gibbs at 512.431.2403 or austinluxurybroker@gmail.com. It would be an honor to earn your business!

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Texans for Prop 1: The Homeowner Tax Relief Proposition

Prop 1

As a Texas REALTOR®, I want to tell you about an important measure on the ballot this November—it’s called Proposition 1 and it will directly benefit you as a Texas homeowner.

First, let’s look at the official language:

Proposition 1

“The constitutional amendment increasing the amount of the residence homestead exemption from ad valorem taxation for public school purposes from $15,000 to $25,000, providing for a reduction of the limitation on the total amount of ad valorem taxes that may be imposed for those purposes on the homestead of an elderly or disabled person to reflect the increased exemption amount, authorizing the legislature to prohibit subdivision that has adopted an optional residence homestead exemption from ad valorem taxation from reducing the amount of or repealing the exemption, and prohibiting the enactment of a law that imposes a transfer tax on a transaction that conveys fee simple title to real property”

I understand how this language might be scary and confusing, but here’s the breakdown of what this proposed amendment actually does.

1)     Lowers property taxes by increasing the state-mandated homestead exemption, which saves you money … every year

2)     Provides tax relief to seniors and disabled Texans by extending the full benefit of the new homestead exemption, which protects some of our most vulnerable homeowners

3)     Prevents local governments from “undoing” the property tax relief the state is offering, which ensures you keep more of your hard-earned money

4)     Prohibits state and local governments from slapping a sales tax on real estate transactions in Texas, which stops a tax that burdens consumers in 36 other states!

And … despite what you may have heard, Prop 1 does all this without harming our local school districts.

I hope you’ll head to the polls and Vote For Proposition 1—the Homeowner Tax Relief Proposition.

Election Day is November 3 and early voting runs from Oct. 19-30.

Dates to remember

Please let me know if you have any questions …

Please visit TexansForProp1.com for more information!

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August 2015 Austin Real Estate Review

Aug15_1
Austin-area home prices set August record, outpace household income growth in August 2015
Austin Board of REALTORS® releases real estate statistics for August 2015

AUSTIN, Texas – September 22, 2015 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), Austin-area single-family home sales remained high in August, increasing eight percent to 2,943 home sales compared to August 2014. Austin-area single-family median home prices, for both sales and leasing, set a record for the month of August. Median home sales prices increased by eight percent year-over-year to $265,000, while median home lease payments increased by seven percent to $1,600.

Barb Cooper, 2015 President of the Austin Board of REALTORS¬®, explained, “As Austin REALTORS®, we’ve seen our city expand in ways we never could have imagined, but household incomes have not been expanding at the same rate as the cost of living in Austin. We will continue working with our city’s leaders to find a solution to the complex affordability issues, with the end of goal of providing affordable and diverse housing stock for our growing population that aligns with the actual incomes of Central Texas residents.”

Recent data from the U.S. Bureau of Labor Statistics shows that approximately 65 percent of Austin-area professionals made less than $50,000 in 2014. Additionally, the City of Austin’s 2014 Comprehensive Housing Market Analysis cited that affordable housing costs should be less than 30 percent of gross monthly income.

That means for residents making $50,000 per year, a mortgage payment translates to $1,250 per month and would fall in a home sales price range of $200,000–$215,000. To compare, the August 2015 median home price was $265,000 and the median lease payment in Central Texas was $1,600.

Simultaneously, median home prices continue to rise and have increased by more than 30 percent from August 2010 to August 2015, a $65,000 difference over the last five years.

Average home price increased six percent compared to August 2014 to $329,620. Total dollar volume continued to rise year-over-year to $970,071,660, increasing by 15 percent.

Monthly housing inventory decreased by 0.1 months compared to August 2014, remaining flat at 2.9 months. This number is still well below the Real Estate Center at Texas A&M University’s balanced housing inventory level of 6.5 months.

New listings increased two percent to 3,364 listings and active listings increased by four percent year-over-year to 6,979 listings. In addition, pending sales increased 11 percent to 2,686 single-family home sales. Homes remained on the market for 42 days in August 2015, the same length of time as in August 2014.

Cooper concluded, “This new report from the Bureau of Labor Statistics provides further evidence of the affordability issue in Central Texas. The growing disparity between rising home prices and what Austin residents can afford, combined with low inventory levels, will continue to drive residents outside of Austin’s city limits to buy a home, putting further strain on our region’s infrastructure and resources.”

August 2015 Statistics
2943 – Single-family homes sold, eight percent more than August 2014.

$265,000 – Median price for single-family homes, eight percent more than August 2014.

$329,620 – Average price for single-family homes, six percent more than August 2014.

42 – Average number of days single-family homes spent on the market, unchanged from August 2014.

3,364 – New single-family home listings on the market, two percent more than August 2014.

6,979 – Active single-family home listings on the market, four percent more than August 2014.

2,686 – Pending sales for single-family homes, 11 percent more than August 2014.

2.9 – Months of inventory* of single-family homes, 0.1 months less than August 2014.

$970,071,660 – Total dollar volume of single-family properties sold, 15 percent more than August 2014.
The following sections describe trends in other sectors of the Austin-area real estate market.

Townhouses & Condominiums
The volume of townhouses and condominiums (condos) purchased in the Austin area in August 2015 was 305, a one percent increase from August 2014. The median price for condos was $225,500, which is five percent more than the same month of the prior year. These properties spent 37 days on market, or three more days than August 2014.

Leasing
In August 2015, a total of 2,080 properties were leased in Austin, which is three percent more than August 2014. Properties spent an average of 36 days on the market, or four fewer days than in August 2014. Active property listings increased by eight percent compared to August 2014, reaching 1,986.
The Austin Board of REALTORS® (ABoR) builds connections through the use of technology, education and advocacy to strengthen the careers of its 11,000 members and improve the lives of Central Texas families. We empower Austin REALTORS® to connect their clients to the region’s most complete, accurate and up-to-date listings data. For more, contact the ABoR Department of Public Affairs at
marketing@abor.com or 512-454-7636. For the latest local housing market listings, visit AustinHomeSearch.com.

* The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

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Why Are Fire Sprinkler Systems So Important?

ltfrLake Travis Fire Rescue – Official Press Release

  • Incident Type: Structure Fire
  • Location: Long Horn Landing, Austin, Texas 78734
  • Date of Initial Alarm: 7/24/2015
  • Time of Initial Alarm: 14:33 or (2:33 PM)
  • Status of Incident at Time of Press Release: Fire Out, Investigation
  • Agencies Involved: Lake Travis Fire Rescue (Primary),  Austin Fire Department, Travis County Sheriff’s Office, Travis County Fire Marshal’s Office, Austin/Travis EMS
  • Location of Press Briefing: Not Assigned
  • Time of Press Briefing(s): Not Scheduled
  • Further Press Releases Planned: Not Planned

Lake Travis Fire & Rescue Incident Summary:

A passerby called 911 to report a house on fire in the 15600 Blk. of Cedar LedgeBlk. in the Hudson Bend area. Fire crews quickly arrived on-scene to find a two story unsprinklered residential home with fire showing from the rear of the structure.  Fire crews were able to extinguish the fire and prevent further damage to the other portions of the home. No one was home at the time of the fire. There were no injuries reported and damage estimates are pending. Travis County Fire Marshal’s Office is investigating the cause of the fire.

Lake Travis Fire Rescue is a supporter of residential fire sprinkler systems, also known as “13D and 13R” systems.  If you are planning to build a new home or remodel your current home and would like to learn more about residential fire sprinkler systems, please contact the Lake Travis Fire Rescue Fire Prevention Division today at 512-266-2533 or visit us on the web at www.ltfr.org

WHY ARE SPRINKLER SYSTEMS SO IMPORTANT?

For more than 100 years, fire sprinklers have been one of the most important elements of home fire safety. This is just one incident that displays why they can be so important to your home and family’s safety. As of 2009, Texas (TX) law requires that all new homes have fire sprinkler systems installed. While existing homes are not required to have fire sprinklers installed, it is highly recommended that you install a fire sprinkler system, since have been proven to dramatically increase your life expectancy in the event of a fire.sprinklers

SAVING LIVES

According to the NFPA, having a residential fire sprinkler system installed in your home can increase your survival expectancy during a fire by 80%. Residential fire sprinklers are effective because they activate faster than any other response mechanism and help to control the fire immediately at the point of origin.

The most lethal aspect of a fire is neither the heat nor the flames produced. Instead, toxic fumes and smoke are by far the most dangerous effects of fire. Worse yet, smoke produced by a fire can quickly and easily spread to all rooms in your property, impeding your vision and filling your home with poison. Installing a residential fire sprinkler system can dramatically reduce smoke production and can keep toxic fumes at survivable levels.

Untamed fires can spread to uncontrollable levels in seconds, and blinding smoke can reduce visibility and make it difficult to breathe in an already extremely stressful situation. Fire sprinklers give the people in your home approximately 10 minutes of cool, clean air to safely escape from your home.

sfdsfPROTECTING PROPERTY

Even if you managed to get your entire family out of a fire in an unsprinklered home, there would be nothing you could do to stop the fire from consuming your home. A residential fire sprinkler system can change that. Having a home fire sprinkler system installed in your home can help curb the flames and keep the damage to your home at a minimum.

One concern many people have when they consider installing a residential fire sprinkler system in their homes is the belief that fire sprinklers would soak their home and all of their belongings when they went off, doing as much (or more) damage as a small fire. This is not the case. In fact, fire sprinklers use the minimum amount of water necessary to control the fire, usually spraying 8-24 gallons of water per minute to control home fires (a small amount compared to the 50 – 125 gallons per minute that the fire department’s hose supplies!).

In addition, there is very little risk of fire sprinkler systems leaking. Most residential fire sprinkler leaks that do occur only occur as a result of pipes freezing and bursting, an effect rarely seen in Austin or Texas. If you are still worried about your residential fire sprinkler pipes leaking, there is also the dry pipe fire sprinkler option which does not keep water in pipes.

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Your Guide to Central Texas Roofing

how-to-choose-roofing-material

As many veteran homeowners know, it’s important to keep the roof of your home in good condition. A leaking or damaged roof can lead to costly and potentially devastating problems—from structural damage to pervasive mold—but a carefully selected roof can also be an essential part of your house’s curb appeal, since it is one of the most visible external features. Choosing the right roofing material is very important.The material should be matched to your overall house design as well as the state of weather at your residence. 

In this article, we’ll go over different types of roofing material and you can decide which one works best with your roof.

The most common types of roofing material are:

  • Asphalt shingles
  • Wood shingles and shakes
  • Clay tile
  • Slate tile
  • Metal

Now we’ll go over each type and see what the pros and cons are as well as give you a rough cost estimate.

Asphalt shingles – These are probably the most popular with about ¾ of the homes in the US using them. Why? They’re low cost, easy to install and resilient. Standard asphalt shingles come in a variety of colors, longevity options and price points. They can be used on just about any architectural style. However, there are cons to this type of roofing too. They provide low insulation and have a shorter life span than most other roofing products – about 15 to 30 years. They are also made from petroleum products and are not recyclable. They have the worst environmental record of any other type of roofing.

Cost – $50 – $150 per square. (100 square feet = 1 square).

asphalt

 

Wood shingles and shakes – Used most commonly in the Northeast, wooden shakes and shingles are among the best for the climate in that area. They are natural products that help the home blend into the environment and are very simple to replace if damaged. Cons are that they are not very fire-resistant; they are high maintenance and tend to rot, split and get mold.  The roof will last 30 to 50 years with some maintenance, however and the material is best for ranches, cottage houses, bungalows, historic and contemporary houses.

Cost – $100 – $150 per square.

wood

 

Clay tiles – They are non-combustible and very durable. They can come in lighter colors and stick to the cool roof standards, saving you energy. It is said that they can reflect 50% of the sun’s solar energy. They are elegant and enduring. They are very versatile and come in so many colors and shapes that they don’t even look like tiles at all. Unfortunately, they’re very heavy and require additional roof framing, which can add to your project costs. Clay tiles are among the most environmentally friendly whereas concrete can be made from a sustainable mixture.  They look great on Mediterranean, European, and Mission and contemporary and ranch homes.

Cost – $300 – $600 per square.

clay tile

 

Slate tiles – These tiles have a beautiful and distinctive appearance. A slate roof will last for about a hundred years, maybe more. It is easy to repair and recycle. It’s an excellent sustainable roofing choice. Unfortunately slate is very heavy. It’s also usually a dark color so it’s not recommended for high-heat locations like Central Texas. Slate roofs look best on Colonial and French style homes.

Cost: $550 – $1,000 per square.

slate

 

 

Metal –  Metal roofing is becoming more popular around the country. It’s pretty inexpensive, durable and easy to install. Metal roofing is usually made of aluminum or tin but can be made of steel or copper. The type of metal determines the cost. You can get your metal roofing pre-engineered to the size of your house so it will fit in one piece or you can use metal shingles. Properly maintained, metal roofs last at least 50 years. They are very green because they are energy efficient and environmentally friendly. They often have a high percentage of recycled content.  Metal roofing looks great on bungalows, ranches and contemporary or cottage homes.

Cost – $100 – $600 per square depending upon the material.

metal

 

There you have it, some of the more common roofing types and their pros and cons as well as their basic cost. Now that you know more about these roofing materials, perhaps you’ll be able to make an educated decision when it comes time to upgrade your roof.