City Properties Journal

Austin, Texas-based Rick Black Architects is a partnership between husband and wife Rick and Cindy Black. A 2520-square-foot artist’s residence-cum-studio situate in Long Branch Valley was completed this year. Also upcoming is the Volkshaus, four upcoming single family houses with shared carports, also in Austin. Each residence is envisioned to achieve a five star Green Building Rating. Aside from houses, Rick Black Architects also works on buildings and commercial establishments, drawing on Rick Black’s experience with Frank O. Gehry and Associates. The residence they designed for a graphic designer and a choreographer was featured in the March 2008 edition of dwell magazine.

The Texas Solar Energy Society invites you to cool houses in Austin on Sunday, June 22nd, from noon until 6pm. The eighteen sites that are part of the tour are models in energy efficiency and green building practices. A variety of homes using combinations of solar energy, rainwater collection systems, green building materials, energy-saving climate control, and water-saving techniques will be open to visitors. To join the tour, purchase the guidebook online or from the Austin Central Market (starting June 1st). The guidebooks contain directions and the features of each site. Visitors also get the chance to talk to the designers, builders and owners of these homes.

Alternative Building Center in Eureka, California offers quality building products from paint stains and finishes to flooring, kitchen countertops to carpets, lighting to bathroom fixtures. The lines they carry are carefully selected green building materials to help you minimize your ecological footprint without having to go far from Humboldt County. ABC advocates Green Building and a health-conscious, environment-friendly approach to design and use. They also offer e-newsletters through their website. They will be celebrating their first year anniversary on June 7th, so stop by if you’re in the area to join special activities including product demos on that day.

Building material costs are rising worldwide, even in regions where much construction is ongoing, such as the Far East and the Middle East. Builders are left with no choice but to ask for larger budgets and to pass on the additional costs to buyers. Faced with ballooning costs, builders and buyers have the option to forego more expensive (but cheaper in the long run) energy saving techniques. It is in fact at times like these that sustainable building is most crucial and it is worth pointing out that “green” building is not grinding to a halt.

On a positive note, Architectural Record presents Unbuilt Houses 2008 showcasing concept and soon-to-rise houses with green elements. Let’s hope that more houses like these will be built.

There are many different types of investment real estate: rental houses, apartments, vacant land, commercial buildings, industrial, shopping centers or warehouses.

They all offer big tax incentives for investors who understand those benefits.

Many people believe that depreciation is the best real estate tax deduction of all. The IRS REQUIRES real estate investors to depreciate their investment properties.

Depreciation is a “paper loss” required for estimated wear, tear and obsolescence.
However, land value is not depreciable. This applies to 100% of the money invested in buying vacant land and that part of the property value apportioned to land on an improved property. (That is, land with a building on it).

Condominiums do not have a land element and 100% of the purchase price can be depreciated.

Residential income property is depreciated over 27.5 years on a straight-line basis.

Commercial property is depreciated over 39 years, also on a straight-line basis.

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Flipping real estate? Beware the following.

1. When you keep property for a few years, you may experience a surge in property tax if your taxes are reevaluated during that time.

2. Renovation Expenses.
If you bought a fixer upper at a bargain, will you recover the expenses and make a profit? Can you withstand a correction in real estate values?

3. Insurance and Mortgage Costs.
You will have higher payments if you don’t occupy your residence and you have tenants.

4. Rental Pressures. A market saturated with rentals means that rents you charge will be less than what you hoped to receive. Will the lower income levels and added expenses drag your investment down?

By finding a dependable tenant, appealing excessive property tax increases and doing the upgrades yourself, you could limit risks. With determination, you could gain profits.

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Now that the mortgage rate has been cut, consider investing in real estate. There is a lot of money in the real estate market, but first you must know what properties make good investments. Many people agree that single family homes are good investments because they are easiest to buy. These homes can be found all over the country. Also, there are many foreclosures which can really do you well in the long run. When you find a foreclosure you will be able to purchase it for well below market value. In turn, your return on investment will come about sooner rather than later. Single family homes come at different price points and in a number of different forms. You can find lower cost homes or expensive ones. The choice is yours based on your available money, and what you are trying to accomplish with your real estate investment.

Look at vacation, time-share, real estate and commercial properties. Try www.usa-property-auctions.com/residential_homes.htm

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Choosing a new home requires careful pondering. You must choose a house that fits your lifestyle. Are you a person who enjoys the luxurious type of houses or the simple ones? Do you get bugged when you can’t go to a nearby Starbucks near your home? Think about it.

This is the fun part of choosing a home. You can fantasize all you want as long as your wallet can handle the pressure. Pick a place where you can comfortably live life without regrets. Look for factors that may satisfy your decision. Your habits, your everyday engagements, your social life, and much more are some. Think carefully. Just like a soul mate, there could be a house that’s perfect you.

At last! Now that you are settled at your new home, the next step has now come. As you settle in your new home, there are still lots to be done. You should take time to clean up the place, redecorate, and put in all the furniture. Keep in mind that this is now yours. Monthly rents and such are now no longer your regular problem. The only thing you have to take notice now is to beautify your new “kingdom.”

Some people would prefer getting the church to bless the home first. But it all depends on the person who now owns this property.

In spite of the many precautionary steps taken before purchasing a house, there are still more things to check even when paying and handling the documents. Remember, this would become your permanent home. Even your bloodline would someday inherit the land you bought. A wise buyer would take all the time in the world to make sure that there would be no future glitches when he or she starts living his or her life.

Don’t get tired of checking again. This is very important. It is like preparing yourself before going on a summer getaway. You must make sure you have brought your sun blocks and umbrellas before diving into a deal. This determines whether you’ll float or drown.