New Water Park coming to the Austin area

Austin American Statesman

Cedar Park could soon be home to a water park resort, the latest attraction in the growing bedroom community that officials say will draw people from across Central Texas.

City leaders are expected to announce plans tonight for a new Schlitterbahn Waterpark, a brand well known to Texans for its original New Braunfels location.

The park would be built on about 95 acres on RM 1431, about halfway between U.S. 183 and Interstate 35, according to a Cedar Park Economic Development Corp. meeting agenda. The project is expected to cost about $360 million to fully develop, city documents said.

The economic impact of the project is expected to be $2.5 billion over 30 years and could create more than 1,000 jobs , according to an independent study cited in city documents.

"It is a resort destination that we're announcing \u2026 not just a water park," Schlitterbahn spokesman Jeffrey Siebert said.

The park would be the company's fifth and its second largest in acreage. Other parks are on South Padre Island and Galveston Island and in Kansas City, Kan.

Siebert said the new water park might include a hotel or other features, but he did not provide details Wednesday.

The City Council will vote tonight on whether to spend up to $6 million in city sales tax revenue for infrastructure, which could include utilities and roads surrounding the project, according to the council's regular agenda.

Council members will also vote on an economic development agreement between the city and AWPH Management LLC, whose registered agent is listed by the Texas secretary of state's office as Schlitterbahn owner Gary Henry . City officials wouldn't elaborate on the agreement Wednesday and declined to comment on the project until the meeting. That meeting is at 5:30 p.m. today at the Cedar Park Public Library, 550 Discovery Blvd .

The project would be complete by 2012 , according to Rick Redmond , who owns Volente Beach Waterpark on Lake Travis and is one of the partners in the project. He said in a news release that he, along with his wife, Jill, and other partners, have been trying to build a water park in Cedar Park for at least four years.

"The Henrys, owners of Schlitterbahn Waterparks and Resorts, and the Redmonds, friends for many years, decided that the Schlitterbahn concept was a perfect fit for this site," Rick Redmond said in the release. "The City of Cedar Park agreed and here we are."

He said his park will remain open this year and in 2011. But he did not say if it would remain open once Schlitterbahn debuts.

The water park would be the latest effort by city officials to transform Cedar Park, a city of 55,000 just northwest of Austin, into what members of the council regularly refer to as a "destination city."

Last year, the city completed work on the $55 million , 181,640-square-foot Cedar Park Center, at New Hope Drive and the 183-A tollway. The center is home to the American Hockey League's Texas Stars and also hosts other events such as concerts. It is the third-largest indoor mixed-use venue in Central Texas.



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Austin Area Builders Ready to Recover

AUSTIN (Home Builders Association of Greater Austin) – The Austin area's new home market could be headed toward a recovery, experts said Wednesday at the 2010 Economic Housing Forecast.
“The resiliency of the job market and relatively stable home prices will translate to a more positive consumer confidence level locally,” said Eldon Rude, Austin director of Metrostudy, which tracks the new home market in Austin and 30 other markets across the country. “Consumer confidence is an important driver of home sales.”
Rude said builders in the Austin area cut new home production by approximately 19 percent in the last year, resulting in 6,490 new home starts in 2009.
“Starts have stabilized in recent quarters, builders have closed more homes than they have started for the last three years. This strategy has resulted in far fewer inventory issues in the Austin new home market compared to the more challenged markets across the United States,” he said.
Metrostudy anticipates that new home starts in the five-county Austin region will be maintained at 2009 levels because of the expected lack of job growth through at least the first half of 2010 and the continued capital constraints facing builders.
Experts believe the region is at or near bottom with respect to housing starts and starts will begin to increase toward the end of 2010 and into 2011.
The conference was sponsored by the Home Builders Association of Greater Austin and the Austin Board of Realtors.
Experts believe the region is at or near bottom with respect to housing starts and starts will begin to increase toward the end of 2010 and into 2011.
The conference was sponsored by the Home Builders Association of Greater Austin and the Austin Board of Realtors.
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7 Ways to Improve Your Home's Appeal to Buyers

In this economy, houses aren't selling like they used to. However, there are some ways to improve the chances of selling your house. If you have a house on the market, or are considering it, read on for seven tips that will make it easier to sell your home and make a smooth transition from one owner to the next.

1. Maintain Neutrality

This policy has worked for Switzerland, and it can also work in real estate. Customizing your home is great if you plan to stay there, but extreme colors and themed rooms can scare off potential homebuyers If you have customized every room with extremely bright or dark colored paint, wallpaper or wall fixtures, you may want to consider toning it down a bit. Using neutral colors on the walls can help prospective buyers create their own vision for the house, and will also leave them with less work to undo if they buy the house.

2. Less Is More
Even though you have not moved out yet, removing some of your furniture can help the house move off the market. If you take pictures for your listing, having less furniture can help the home appear more spacious. When potential homebuyers arrive, having less furniture can also provide clear walkways.

3. That New House Smell
Honestly, the new house smell isn't always the most pleasant, but at least it is new. In preparing to show your home, you should avoid strong smells. To avoid odors, make sure to take out the trash and clean the refrigerator regularly. It is also good to be mindful of what you cook in the days leading up to a showing since certain foods have strong scents. If you have pets, keep an eye on the litter box. Any smell that is too strong could send potential homebuyers running out the door.

4. Pay Attention to the Details
It is not a good idea to make major renovations when you are ready to sell your home because you may not recoup your investment. If you never got around to starting or completing that total kitchen or bathroom makeover, then you can make some small, inexpensive changes to spruce things up. Replacing the hardware on cabinets is a quick way to improve the appearance of older looking fixtures. Upgrading small items such as light switch and outlet covers can also add a nice touch.

5. Maximize Your "Curb Appeal"
The front of your home is the first thing prospective home-buyers will see, so keeping it presentable is a must. If there is a yard, keep the grass to a reasonable height and if there are trees, be sure to keep the branches under control. The path to your front door should be a clear and welcoming one, not an obstacle course!

6. Don't Get Too Personal
Upon entering your house, everyone will know it is lived in, but they do not need to see all the evidence. Get rid of excess clutter such as newspapers, magazines, and mail. Be sure to put away your laundry and shoes. It may also be a good idea to put away some other personal belongings like pictures on the refrigerator or mantle. For you, the pictures may make a house a home or display your personal touch. For the new homeowner, it may appear too personal.

7. Take Care of Repairs
Waiting to make repairs until after you find a buyer can be tricky. Depending on the nature of the repairs, you may not be able to find a buyer. Depending on how fast the buyer wants to close on the house, you may not have enough time to make the repairs. Save yourself some time and potential trouble, by making repairs before you list your home. The repairs will have to be made anyway, so it is better to get them out of the way sooner rather than later.

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Understanding the Multiple Offer Situation

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Should you list your home for sale during the holidays?

People often ask me whether they should list their home for sale during the holiday season. Here are a few points to consider:

There's no question that showing activity generally slows down between Thanksgiving and the first of the year. Part of this is due to the fact that many agents decide to take vacations during that time. Personally, I had some of my best months for sales in December, especially when I stayed in town rather than taking time off. There are several advantages to having your property on the market in December, especially if you decorate your house for the holidays. A warm fire and the smell of homemade cinnamon rolls (even if they came out of the can) will make your house more appealing. If your neighbors decorate their houses, that's an additional plus, especially if there is any type of neighborhood competition. Most buyers are drawn to communities where the residents take pride in their property. Even though there are fewer buyers looking over the holidays, those who are looking are usually very motivated to buy. Like your family, they often have to move quickly. The last few months of the year often see an uptick in investor activity. An investor may be purchasing because the current interest rates are very favorable or to pick up some additional tax write-offs in this tax year.

So if you're on the fence about listing your home for sale before the end of the year, keep these points in mind.
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Both Houses Approve Tax Credit Extension

Both houses approved legislation to extend the first time homebuyer credit until April of next year. For more information, visit http://www.RomeoM.com

1.4 million home buyers thus far....

With the First-Time Home Buyer Tax Credit deadline quickly approaching, the Internal Revenue Service recently reminded potential home buyers they must complete their first-time home purchases before Dec. 1, 2009 to qualify for the special first-time home buyer credit. The American Recovery and Reinvestment Act extended the tax credit, which has provided a tax benefit to more than 1.4 million taxpayers so far.

The credit of up to $8,000 is generally available to home buyers with qualifying income levels who have never owned a home or have not owned one in the past three years.

The IRS encouraged all eligible homebuyers to take advantage of the first-time home buyer credit but at the same time cautioned taxpayers to avoid schemes that help ineligible people file false claims for the credit. Currently, the agency is investigating a number of cases of potential fraud and is using computer screening tools to identify questionable claims for the credit.
Because the credit is only in effect for a limited time, those considering buying a home must act soon to qualify for the credit. Under the Recovery Act, an eligible home purchase must be completed before Dec. 1, 2009. This means that the last day to close on a home is Nov. 30.

The credit cannot be claimed until after the purchase is completed. For purchases made this year before Dec. 1, taxpayers have the option of claiming the credit on their 2008 returns or waiting until next year and claiming it on their 2009 returns.
For those considering a home purchase this fall, here are some other details about the first-time home buyer credit:

-The credit is 10% of the purchase price of the home, with a maximum available credit of $8,000 for either a single taxpayer or a married couple filing jointly. The limit is $4,000 for a married person filing a separate return. In most cases, the full credit will be available for homes costing $80,000 or more.

-The credit reduces the taxpayer’s tax bill or increases his or her refund, dollar for dollar. Unlike most tax credits, the first-time home buyer credit is fully refundable. This means that the credit will be paid to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

-Only the purchase of a main home located in the United States qualifies. Vacation homes and rental properties are not eligible.

-A home constructed by the taxpayer only qualifies for the credit if the taxpayer occupies it before Dec. 1, 2009.

-The credit is reduced or eliminated for higher-income taxpayers. The credit is phased out based on the taxpayer’s modified adjusted gross income (MAGI). MAGI is adjusted gross income plus various amounts excluded from income—for example, certain foreign income. For a married couple filing a joint return, the phase-out range is $150,000 to $170,000. For other taxpayers, the range is $75,000 to $95,000. This means the full credit is available for married couples filing a joint return whose MAGI is $150,000 or less and for other taxpayers whose MAGI is $75,000 or less.

-The credit must be repaid if, within three years of purchase, the home ceases to be the taxpayer’s main home. For example, a taxpayer who claims the credit based on a qualifying purchase on Sept. 1, 2009, must repay the full credit if he or she sells the home or converts it to business or rental use at any time before Sept. 1, 2012.
Taxpayers cannot take advantage of the credit even if they buy a main home before Dec. 1 if:

-The taxpayer’s income is too large. This means joint filers with MAGI of $170,000 and above and other taxpayers with MAGI of $95,000 and above.

-The taxpayer buys a home from a close relative. This includes a home purchased from the taxpayer’s spouse, parent, grandparent, child or grandchild.

-The taxpayer owned another main home at any time during the three years prior to the date of purchase. For a married couple filing a joint return, this requirement applies to both spouses. For example, if the taxpayer bought a home on Sept. 1, 2009, the taxpayer cannot take the credit for that home if he or she owned, or had an ownership interest in, another main home at any time from Sept. 2, 2006, through Sept. 1, 2009.

-The taxpayer is a nonresident alien.