Archive for June, 2010
Austin Architect Ad Stenger
Though AD Stenger wasnt as prolific as Joseph Eichler or as well known as Frank Lloyd Wright he built some of Austins most unique homes that are now considered midcentury modern.
Arthur Dallas Stenger first began building homes in the 1940s in Austin mostly on Arthur Lane in the Barton Hills area which was named after his father the first Arthur Dallas Stenger who was also an architect. Though Stenger attended architecture school at the University of Texas after returning home from World War II he never graduated. He did get his architecture license as an undergraduate and began building homes for post war Austinites.
Though FHA loans had design restrictions built into them it didnt stop Stenger from creating unique homes that were moderately priced even if he had to help the homeowners find loans. He also worked differently from other builders by purchasing land mostly in the Barton Hills and Pemberton Heights areas finding a buyer and building a home without making his clients sign contracts. There was no pressure for the buyer to take the house upon completion though clients rarely backed out after seeing the home.
A Stenger home will stand out with signature low peaked roofs clad with concrete wood rock and other organic materials. He also used rock and stone quarried from the home site as siding or built into the fireplace helping the house fit easily within its surroundings. Stenger had a love for long low slung fireplaces reminiscent of 50s lounges so every home he built included a wood burning fireplace though not particularly necessary in the heart of Texas.
The houses also have many of the amenities that Austins big modern building boom now cherish with walls of windows and clerestory windows hanging just below the exposed roofline and tinted concrete floors now pricing out around 10 dollars a square foot. He also used the organic building theory of bringing the outside in by running exterior stonework through the house and into its interior.
Though Barton Hills was featured as the worlds largest airconditioned subdivision in the 1956 Parade of Homes Stenger didnt build his homes with central air. Instead he built large windows to catch morning light and not the hot sun light of mid afternoon and a floor plan to allow for a breezy pass through ventilation when the windows were opened.
In 1957 when Stengers friend radio host John Henry Faulk ended up blacklisted as a communist in the McCarthy era he built and financed a home for him knowing his friend was swamped with legal fees. He took his other clients financial situations into account as well helping offset furniture costs with several built ins and pricing his houses between 18000 and 22000 though today they can range from 400000 to 600000.
Stenger built around 100 unique homes in the Austin area building his last for his wife Jean in 1999 a few years before he died in 2002 at the age of 82. Todays battle lies between those seeking out Stenger houses for their originality and great use of space and others who prefer to tear down these houses to build larger homes since the locations are highly sought after for their land alone.
About the writer: Escapesomewhere is a company working in Austin Texas. Their site provides information about Austin real estate along with a Austin MLS search. They also provide insights on the Austin market on their Austin real estate blog.
Are Real Estate Agents Tell You Everything?
Purchasing a house can be an exhilarating experience for everyone in the family. Many different options are open in finding a home.
If you choose to have the assistance of an agent there are things to be aware of. The real estate agents are professional however they may leave vital information out of the conversations.
There are some imperative factors that you must know in order to make wise decisions.
The most important thing to remember about a real estate agent is they are first and foremost an over glorified salesperson. Their goal is to sell a house.
They will go through all the hype trying to make the buyer think the best about the worse. Now not all agents are liars. However keep in mind the point of roles. They are selling and you are buying. Be sure not to forget this major advantage.
After all you might believe you must have an agent. This is not the case. The negotiator is just that a negotiator. Their primary objectives is buying and selling. When they work they are mostly after the commission.
The real estate agent may not explain to the consumer the problems associated with the property. If the dwelling has ants termites or any other pest problems it is likely they will not be straightforward with them.
Other issues to be aware of are plumbing water damage or electrical problems. The agent you choose may hold this information back.
It is true that they give you a list of house investigators. This is so the purchaser can have the house checked out. However keep in mind the list is coming from the person who wants to sell the home.
Some examiners will receive kickbacks from the real estate agent so they can obtain more business. There are a few representatives who know just about as much of the house issues as you do. Which case in point is nothing.
Real estate agents will not let you know of properties where they will not receive any commission. Even though you pay for their services.
The properties can include the price range correct location and other criteria that you’ve specified. The agent may skip over houses even if they are perfect since they will not profit off of the deal.
This is a great reason to do some checking on your own even if you do have an agent working for you. Then as the buyer you will know and understand if the agent is really working as hard as they can to help you find that perfect house.
Be cautious of brokers who try to raise the price. Explain to the agent that you can only spend a certain amount of money and stick with that.
An agent may decide to show you homes a little higher than the max you are willing to spend. The agent may try to explain that there are no houses in the price range you have stated which is usually untrue. Or else they give details on how this particular residence is only a certain dollar figure more.
Usually this is not too much extra. Remember they would like you to pay out more cash so they can increase their commission. This technique can be very subtle. Some people may not even notice they are attempting this method.
Agents may tell you that a certain property is will be a great investment for the future. An agent may even state that the land will double in five or ten years. This may or may not be true.
Some real estate is sure to increase in value while others will not. However a broker is not one to ask this information from. They are not experienced in this kind of detail.
The agent is again trying to sell. Do not take any advice the real estate person is claiming to be true as face value. If you want to know if something they have said is true or untrue you must explore this knowledge yourself.
Using a real estate agent is everyone’s choice. There are some excellent agents that are ready to help. For the most part beware of the ones who just want the money. Be wary of the runaround.
Make very sure the agent will return phone calls or emails. Buying a house is a very big step. Review all the facts and figures before taking the plunge.
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Are Foreclosures Slowing Down?
Although nearly 170000 homeowners were able to avoid foreclosure in the month of May due to the help of alliance leaders the number of foreclosures still continued to rise. With more and more mortgage assistance groups preventing foreclosures the hope is that the overall number in troubled homes will drop. However the foreclosure crisis continues to plague the real estate market and the economy in general.
Real estate industry experts are saying that foreclosures will continue to rise well into June 2008. Why? The impact of the mortgages interest rate has been slowly depleting the savings accounts and money from people who are just holding on hoping for the market to turn around quickly. As more and more days pass with the stalled economy these homeowners are finally admitting defeat and having to petition for a foreclosure despite their valiant efforts. However more and more homeowners are turning to companies like Hope Now a mortgage alliance firm to help with their payments.
Hope Now reported that roughly 60 of all the homeowners they work with on a daily basis have changed their payments completely. These repayment modifications have allowed these homeowners to remain in their home and survive without the subprime or variable interest rates they were fighting against. The remaining 40 of homeowners who came to them looked into simple modifications in their mortgage payments to make their financial situation improve. Repayment plans are typically the most important and effective way for homeowners to renegotiate their mortgage. Repayments are the most common solution for homeowners who have fallen behind on their mortgage payments due to layoff or similar situation.
However repayment plans are meant to be a temporary solution. For that reason many real estate experts and housing market advocates are saying that simple repayment situations will not be enough to keep the homeowners from the future doom and gloom of the subprime mortgage rates. Repayment scenarios do not reduce the debt involved with the home. Instead they give the borrower more time to repay the debt they have on top of their typical mortgage payment. In other words repayment plans do not address the main problem of the mortgage which is the interest rate and the conditions by which the mortgage was created forcing them to sell their home.
Despite the trend of foreclosure experts assisting homeowners foreclosures have continued to rise 7 in the same period of time these firms were providing assistance. Home industry experts forecast that foreclosures will continue to rise at 7 for the next 18 months as more and more homeowners fall victim to the slowed economy and reduction in jobs.
What are institutions like Hope Now doing for homeowners to help them with their payments? For those homeowners dealing with subprime adjustable rate mortgages firms like Hope Now are petitioning the banks to freeze their introductory low interest rates on subprime ARMs for a minimum of 5 years to prevent foreclosures from dotting the landscape. As these introductory rates hold the hope is that the homeowner will bounce back financially in order to meet their financial payments in the future.
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