Austin Real Estate

By: Anne And Eddie Mckechnie

The Austin area is fast becoming one of the most popular residential areas in Texas. Offering an elite level of public services and home sites, Austin has excelled where many cities have stagnated. Even as the national home market slows down, Austin has continued to show progress and growth. Part of keeping Austin's residential development on the right track is dealing with scam artists and unscrupulous land developers. Recently the Austin government shut down a real estate scam that was taking advantage of Austin residents.

The firm, Galindo Trust and it's owner Roberto Flores were selling homes to unsuspecting buyers and concealing the fact that the homes had existing liens and easements. Another aspect of the scam was the fact that Galindo Trust was supposedly paying property taxes and home owner's insurance payments when in fact, these payments were not being made making the homes susceptible to foreclosure.

Flores has been ordered to pay over $1.4 million in civil penalties and restitution to people affected by his firm's criminal practices. The former owner of the homes, Shriner's Hospital was unaware of these practices and has since began work with the city to assure that buyers retain free and clear title of their homes.

This is the kind of real estate scam that we have seen being operated all over the country and it pays for residents to educate themselves on the various scams that are being perpetrated at any given time. Education is the primary opponent to real estate scams for knowing what to look for and which situations are suspect.

On another front in the real estate world, a historical ranch has been sold in the Austin area. The famous Goodrich Ranch which comprises 27,000 acres os prime land has been largely purchased by Copper Stallion Properties. The company purchased 21,000 acres and have started planning for resale of the newly subdivided 11 parcels of land. This has presented Austin home buyers with a fantastic opportunity as the former Goodrich Ranch site is some of the most beautiful and scenic land in the Austin area. Comprised of valleys, creeks, rivers and lakes, this will be an exciting new development for Austin. Look for more elite developments in the future, Austin is on the move!

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