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Posted at 3:20 PM, Mar. 10, 2007
LIVE,WORK, PLAY and INVEST IN AUSTIN....
HUD
Posted at 3:53 PM, May. 31, 2009
Daily Real Estate News | May 29, 2009 |
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HUD: Tax Credit Can Be Used on Closing Costs
FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.
Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.
The loans can't be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.
Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.
There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.
In addition, some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their downpayment. These programs are separate from what HUD announced today.
The first-time homebuyer tax credit was enacted last year--and improved upon earlier this year--to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven't owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.
Learn more about the credit, including how to apply for it this year even if you've already filed your taxes, at REALTOR.org.
Source: Robert Freedman, REALTOR® Magazine Online
Posted at 3:42 PM, May. 31, 2009
Daily Real Estate News | May 28, 2009 |
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Kiplinger's: 10 Best Places to Live and Work
Where’s the best place to hide during this economic downturn?
Kiplinger’s Personal Finance magazine evaluated U.S. cities for their growth potential, analyzing their ability to hold onto jobs even if the economy softens further.
With assistance from Kevin Stolarick of Martin Prosperity Institute, the magazine concluded that cities where there are a lot of white-collar jobs are surviving the downturn better than areas where much of the workforce is employed in manufacturing or service jobs.
Stolarick says these creative-class jobs tend to help generate new businesses and that increases the vibrancy of the areas where they hold sway.
This employment analysis combined with data about income growth and cost of living led Kiplinger’s to choose these 10 cities as the best places to live and work in today’s challenging economy:
1. Huntsville, Ala.
2. Albuquerque, N.M.
3. Washington, D.C.
4. Charlottesville, Va.
5. Athens, Ga.
6. Olympia, Wash.
7. Madison, Wis.
8. Austin, Texas
9. Flagstaff, Ariz.
10. Raleigh, N.C.
Source: Kiplinger’s Personal Finance (07/2009)
Texas
Posted at 3:39 PM, Feb. 22, 2009
HIGHEST HOME APPRECIATION IN TEXAS
SANTA ANA, CALIF. (First American CoreLogic) – Texas continues its trend of weathering the recession better than most other states. The state’s major metros top the nation in home price appreciation over the last year.
Austin–Round Rock leads the country’s largest core-based statistical areas (CBSA) in home price appreciation with a 3.7 percent increase in 2008, according to First American CoreLogic.
Houston–Sugar Land–Baytown experienced a price appreciation of 3.3 percent over the last year, putting it right behind Austin–Round Rock.
Dallas-Plano-Irving homes appreciated 1.92 percent and San Antonio’s homes 0.17 percent, putting them third and fourth in the nation.
Only one other major CBSA, Denver-Aurora, Colo., showed an increase in home price, according to CoreLogic.
Of the 958 smaller communities the study observed, College Station–Bryan experienced the sixth highest home price appreciation, with an increase of 6.78 percent.
Overall, Texas homes saw an appreciation of 1.83 percent in 2008, putting the Lone Star State sixth among all state rankings
A Decline in Mortgage Rates
Posted at 10:11 PM, Feb. 13, 2009
Daily Real Estate News | February 13, 2009 | Share
Mortgage Rates Drop This Week
A dip in the long-term mortgage rate this week offered home owners a refinancing opportunity, according to Freddie Mac.
This week's rates:
- Average interest on 30-year fixed loans fell to 5.16 percent from 5.25 percent last week.
- Interest on 15-year fixed loans also declined, slipping to 4.81 percent from 4.92 percent.
Source: Charleston Post and Courier (02/13/09)
My Trip to St Bart's
Posted at 10:11 PM, Feb. 8, 2009
St.Bart's
My recent trip to St. Bart's was December 2008 and was a fabulous vacation. St. Bart's is a unique flavor of France, under the sun in the West Indies.
Trying the different beaches and restaurants are part of the St Barths experience, so wherever you stay on the island you will need a car. Though St Barths is quite small. From anywhere on the island, you can get to any other part in less than 20 minute drive. Any valid driver's license will do, and for those used to smooth, wide and level roads, the business of driving on St. Barths can be an aventure in itself.
As for hotels, all categories range from moderate to very expensive in price, and from okay to superb in quality. All are informal, quietly chic, and intimate. Two properties I stayed at were the Hotel LeToiney and Hotel Guanahani Resort and Spa both superb properties. Following are some pictures of St, Bart's and you may also run into some celebrities if you pay close attention.
 
Austin's New Home Market Slows
Posted at 8:41 PM, Feb. 8, 2009
AUSTIN'S NEW HOME MARKET SLOWS
AUSTIN (Metrostudy) – The latest data from Metrostudy shows a significant decline in the number of home starts and closings in the Capital City in fourth quarter 2008.
The firm recorded 1,430 single-family detached starts during the fourth quarter, a 48 percent decline (1,295 units) from fourth quarter 2007. The annual starts rate was 8,027 units, a 36 percent drop (4,420 units) from fourth quarter 2007.
Fourth-quarter closings declined 33 percent (1,108 units) from fourth quarter 2007 to 2,255 units. For the year ending December 2008, the annual closings rate of 10,181 units was 27 percent (3,834 units) below the annual rate reported at the end of fourth quarter 2007.
Since fourth quarter 2006, the most significant decline in starts was in the price segment below $200,000. During the two-year period, there were 5,135 fewer starts in this price segment, resulting in a 59 percent decline, compared with a 50 percent decline in the overall market.
“Capital constraints faced by builders and the tightening in credit for buyers played large roles in this decline,” said Eldon Rude, director of Metrostudy’s Austin division. “While starts of homes priced below $200,000 will likely continue to slow in 2009, most of the decrease in activity will be in the higher price points.”
Ausin Continues to Outperform the Nation
Posted at 5:02 PM, Nov. 5, 2008
Austin Continues to Outperform the Nation
Recently Forbes Magazine ranked Austin as the number one city for value and job growth in the nation. Austin and Texas as a whole are performing so well because of a diverse economy including the energy and technology sectors. Forbes also projected Austin's job growth to continue to be at least 2% annually through 2012.
Helio Volt Moves to Austin Adding 300 Jobs
Helio Volt Corp, an energy company, manufactures power generating solar materials for use in construction applications. Helio Volt will add 300 new jobs by next year.
Helio Volt will be located on East Stassney and will be part of the 140 acre Texas Clean Energy Park, a Trammel Crow project, planned to house more alternative energy companies that are moving to Austin. The alternative energy market has been identified as a growth sector for Austin adding to its reputation as a high tech city.
Bhattarai, Abha. "Best and Worst Bang For The Buck Cities". Forbes Magazine October 10, 2008.
Elder, Robert. "Helio Volt's Solar Materials Plant to Open Friday". Austin American Statesman October 23, 2008.
Price Declines Spread to more Markets
Posted at 1:18 PM, Sep. 4, 2008
'Glimmer of hope' in slowing rate of decline
By Inman News, Thursday, September 4, 2008.
Inman News
More markets are seeing home-price declines, but the severity of the declines appears to be moderating, according to a quarterly forecast of mortgage risk compiled by First American CoreLogic.
A "moderating trend" in price declines over the last two quarters "indicates that the house-price rate of decline is slowing down, a first step toward the bottoming out of price declines," First American CoreLogic's third-quarter CoreMortgageRisk Monitor concludes.
The increasing stock of real estate-owned properties, the economy and inflationary risks could still spell trouble, "but for now we view the trend data as a glimmer of hope for the market."
Home prices in 380 markets tracked by the forecast fell by an average of nearly 11 percent from a year ago. Nearly 200 markets saw price declines, up from 176 in the second quarter and 143 in the first quarter.
While more markets are seeing price declines, the most severe declines remain concentrated in states that saw the most speculation during the boom. The 40 worst markets, which have all seen prices fall at least 15 percent in the last year, are in California, Florida, Arizona and Nevada.
The survey's Core Mortgage Risk Index, which forecasts delinquency risk, was up 12 percent from a year ago and 55 percent above a baseline established in 2002 at the end of the dot-com bust.
"Although significantly higher now than during this base period, the CMRI is likely to continue rising nationally over the next 18 months," the forecast predicted.
While fraud and collateral risk had been the major factors driving up the risk of delinquency beginning in late 2005, by late 2007 "the rapid decline in home prices began to quickly overwhelm all other factors driving risk," First American CoreLogic said.
Eight of the 10 markets identified as having the highest risk of delinquencies were in California. Outside of California and Florida, the riskiest markets in the rest of the country included Las Vegas, Phoenix, and Washington, D.C.
Markets seeing home-price appreciation were concentrated in five states: Texas, Pennsylvania, Indiana, Alabama and Iowa. Each of those states had at least six markets where prices increased more than 2 percent during the last year, First American CoreLogic said.
30 Year Mortgage Rates
Posted at 9:53 AM, Aug. 15, 2008
Daily Real Estate News | August 15, 2008
30-Year Mortgage Rates Hold Steady
Freddie Mac reports that the 30-year fixed mortgage rate held steady at 6.52 percent during the week ended Aug. 14. However, interest on 15-year fixed loans fell slightly to 6.07 percent from the prior week.
Meanwhile, the five-year adjustable mortgage rate dipped to 6.05 percent, and the one-year ARM dropped to 5.18 percent.
Source: Chicago Sun-Times, Francine Knowles (08/15/08)
Top 10 Cities to Buy a Home
Posted at 6:58 AM, Jul. 16, 2008
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Daily Real Estate News | July 15, 2008
Financially, at least, the best places to buy houses are those where buying costs less than renting, tax incentives are attractive, and there’s an opportunity to build equity.
Forbes magazine surveyed the 40 largest metropolitan area housing metrics looking for cities where home prices have appreciated over the last two years. It also measured vacancy rates. And it gave extra points to cities where rents are significantly higher than a buyer would pay for the same home.
Texas dominated the magazine’s list because of its healthy job market and growing tax revenues.
Here are the 10 cities that topped Forbes’ best-places-to-buy list
- Houston
- Austin, Texas
- St. Louis
- Philadelphia
- San Antonio, Texas
- Dallas
- Charlotte, N.C.
- San Francisco
- Jacksonville, Fla.
- Atlanta
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10 Best Cities to Live, Work, Play
Posted at 7:06 PM, Jun. 9, 2008
Daily Real Estate News | June 9, 2008
Yes, Austin #6!!!
10 Best Cities to Live, Work, Play
Where are the best cities in the country to live, work, and play? Kiplinger Personal Finance magazine did its best to answer that question in its 2008 Best Cities report.
Kiplinger says it looked for strong economies and abundant jobs, a reasonable cost of living, and lots of fun things to do.
Kevin Stolarick, research director at the Martin Prosperity Institute, a think tank that studies economic prosperity, worked with the magazine to make the top 10 selections. "Our formula highlights cities not just with strong past performance, but also with all the ingredients for future success," he says.
Here are the cities selected:
- Houston
- Raleigh, N.C.
- Omaha, Neb.
- Boise, Idaho
- Colorado Springs, Colo.
- Austin, Texas
- Fayetteville, Ark.
- Sacramento, Calif.
- Des Moines, Iowa
- Provo, Utah
Source: Kiplinger (07/01/2008)
The 10 Greenest Cities in American
Posted at 6:12 AM, Dec. 3, 2007
The 10 Greenest Cities in America
By Jacob Gordon of TreeHugger.com for MSN City Guides
American cities aren't just starting to blossom in the green arena, they're fighting to see which can bloom the brightest. The following list is a quick hybrid cab ride through 10 cities doing the most to realize a sustainable metropolis. To learn more, visit the rest of our series, and see which cities need the most help-and which cities are greener than you think.
Austin
The politics in Austin, Texas, home base of Whole Foods Market and Lance Armstrong (at least part of the year), have earned it the title of "the blueberry in the bowl of tomato soup." But the city's energy portfolio could make it known as the ray of sunshine in the field of oil pumps. If you want to sign up for green power from Austin Energy, possibly the greenest power grid in the country, you can get in line-this year's demand was unpredictably high, and they're fresh out. Austin's growing list of proactive energy maneuvers is, to say the least, striking. Not only does Austin lead the country in wind power and biodiesel production, but it has built advanced plug-in hybrid vehicles into its energy strategy.
As part of the recently announced Austin Climate Protection Plan, all facilities, fleets and operations will be carbon-neutral by 2020, and 100 percent of city facilities will be powered by renewable energy by 2012. There will also be CO2 caps and reduction plans for all utility emissions, something the federal government hasn't dared do. According to Roger Duncan, Austin Energy's deputy general manager, the city is ramping up to make both residential and commercial building codes the most energy-efficient in the nation, starting by making all new single-family homes "zero net-energy capable"-meaning they could produce as much energy as they use-by 2015, and increasing energy efficiency by 75 percent in all other new construction. The Clean Energy Incubator, sparked by the National Renewable Energy Lab and managed by the University of Texas at Austin, works closely with the power utility and serves as a test bed for budding startup companies to develop green technologies ranging from solar, biofuels and wind to Internet-controlled irrigation systems.
Living in Austin
Posted at 12:34 AM, Sep. 23, 2007
Austin: One of America's Favorite Cities
Went to CNN.com today and after scrolling past a few hot but depressing headlines I spotted "Texas-sized Diversity" promoting a special article about Austin: Haven for the healthy, paradise for the party crowd. It pretty much covers what most brief articles cover -- the live music, the bats, 6th Street, the Greenbelt, and hike and bike trails. It's definitely aimed at visitors, not residents.
Best places to live
Posted at 8:12 PM, Sep. 21, 2007
Real Estate Articles from Inman News
Best places to live
InmanTV: Sperling's BestPlaces creator gives the scoop
Friday, September 21, 2007
Inman News
Bert Sperling is the man behind Sperling's BestPlaces, a company that analyzes data about people and places, and then rates them for major publications. His concepts and methodology help power Money magazine's annual Best Places to Live survey, and the popular book "Cities Ranked & Rated," which evaluates more than 400 metropolitan areas. He joins InmanTV to talk about which are the best (and worst) places to live in the U.S.
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Best Cities For Young Professional
Posted at 4:30 PM, Jul. 15, 2007
In Pictures: Best Cities For Young Professional
Austin Convention & Visitors Bureau
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Flip this House
Posted at 10:02 AM, Jul. 13, 2007
Now Casting the New Season of Flip This House on A&E!
Flip This House, A&E's #1 rated lifestyle show, has been to Charleston, Atlanta, San Antonio, and New Haven. Which city will be next?!!
Contact me for a potentioal cast application
or reply to my blog.
813 Casting and Departure Films are conducting a nationwide search for the new cast of characters who will be featured on the upcoming season of Flip This House! Will it be your team?
We're looking for confident, charismatic, motivated and opinionated people who "flip" residential properties for a living. We want real-estate adrenaline junkies who love the high risk, high reward nature of their jobs and who are devoted to doing a great job!
The Fastest Growing Cities
Posted at 5:01 PM, Jul. 4, 2007
The Fastest Growing Cities
Daily Real Estate News | July 3, 2007Population Booms in These Fast-Growing Cities
The largest population growth nationwide between 2005 and 2006 occurred in urban hubs in the South and the West, according to the latest U.S. Census Bureau figures.
New York continued to be the nation’s most populous city, with 8.2 million residents. This was more than twice the population of Los Angeles, which ranked second at 3.8 million.
Phoenix, with a population of 1.5 million, edged out Philadelphia to become the nation’s fifth most-populous city. Houston is fourth; Chicago is third.
Meanwhile, Rust Belt cities mostly continued to shrink. Detroit, Pittsburgh, Buffalo, and Rochester all recorded losses of more than 5 percent since 2000, but their 2005 to 2006 declines have been small, suggesting they may have reached equilibrium. Cleveland’s population has continued to decline by more than 5 percent. Columbus and Indianapolis, on the other hand, gained population.
Suburbs of major cities grew the most. North Las Vegas, Nev., a suburb of Las Vegas, had the nation’s fastest growth rate among large cities (100,000 or more population), increasing 11.9 percent during the period, to 197,567.
Other fast-growing suburbs were in the Dallas area: McKinney (ranking second), Grand Prairie (sixth), and Denton (ninth).
Florida had two cities among the fastest growing: Port St. Lucie (third) and Cape Coral (fourth). Arizona also placed two on the list, with Gilbert (fifth) and Peoria (seventh), both near Phoenix. Also rounding out the list: Cary, N.C. (near Raleigh) and Lancaster, Calif. (near Los Angeles).
— REALTOR® Magazine Online
Why People Are Choosing To Live and Retire in Costa Rica
Posted at 8:13 PM, Jun. 5, 2007
Why People Are Choosing To Live and Retire in Costa Rica
From InmanWiki
Costa Rica is without doubt a place of stunning scenery, sunshine and smiles with spring-like weather all year round, no income taxes on foreign-earned income, no capital gains taxes, excellent world-class medical facilities, affordable medical plans and populated by the 'Ticos' who are an amiable and very attractive people.
Who Is Moving to Costa Rica?
There are estimated to be 77 million 'baby boomers' in the USA who will begin retiring in 2008, and it seems there are quite a few thinking about a Costa Rica retirement. So, too, are Canadians and Europeans who are looking for that perfect climate and a more affordable place to live.
Wealthier people from all over Central and Latin America are also visiting Costa Rica because of political and financial instability in their own countries.
When you fear for the lives of your own children because they may be kidnapped in Mexico, Guatemala or Honduras or, you have just witnessed the value of your home slashed in half as some of our Venezuelan friends have recently, your future can look downright terrifying.
Politically Stable Country
Unlike most nations in Central and Latin America, Costa Rica has been a stable and democratic country since it's independence in 1948. It has no army, and its citizens enjoy one of the highest life expectancy levels in the Western hemisphere and higher living standards than their war-torn neighbors.
Costa Rica's perfect climate, laid back lifestyle, financial and political stability makes this 'rich coast' look like paradise on earth to many people.
Business Opportunities
It's not just people seeking retirement who are visiting Costa Rica. We are seeing young entrepreneurs coming to Costa Rica with dreams of establishing their business here. This is an admirable goal: however, remember that having a working knowledge of Spanish will only take you halfway.
As guests in their country, we must remember that doing business here can be challenging, and that inefficient bureaucracies, redundancies and duplications that are a part of everyday business.
Affordable Costa Rica Real Estate
In comparison with Europe, real estate in Costa Rica is very affordable. Foreigners can easily buy their own homes and a few people have decided to build a home.
According to the Global Property Guide, the most affordable city in Europe is Bucharest, where you would pay US$3,085 per square meter for a 120M2 apartment (1,291.2 square feet). Most Costa Rica real estate is at least half the price of the cheapest city in Europe.
You can certainly find ultra-luxury condos in Costa Rica for $2,000 per square meter, but you can also easily buy a modern, brand new, very comfortable home anywhere near the business, cultural and entertainment centre of San Jose, the capital of Costa Rica, for US$1,000 - $1,500 per square meter. I know this because I just bought another home.
I bought a new, two story, 300M2 (3,228 square feet) luxury home (312M lot - 3,357 square feet) in a secure gated condo community in Santa Ana. It was built by one of the best builders we have come across and was priced at US$1,033 per square meter.
Property Taxes
When buying a home in Costa Rica, property taxes must be considered. Thankfully, there is little to worry about because property taxes are only 0.25%.
According to the Miami Dade County Web site, you would pay about US$6,875 per year in property taxes on a US$275K property in Miami. With a luxury apartment in Costa Rica, the property taxes for a home of the same value would be US$687.50 per year, so you would save US$515 per month just in property taxes.
And for my brand new 3,228 square foot luxury home in Costa Rica? I'll be paying about $230 per month for both maintenance (swimming pool, landscaping, security, etc.) as well as property taxes.
Building Your Own Home
One lady built her own home for $38 per square meter. Last year, I built my own vacation home for a grand total of US$93,290.17 for 4,300 square meters of picturesque land (46,268 square feet - just under one acre) and a completed, fully furnished, extremely comfortable 1,638 square foot, very cozy Cypress wood home. That works out to US$57 per square foot of construction.
Building your own home is not for the faint of heart anywhere in the world, but if you are comfortable with the idea then you'll be delighted to know that your labor costs in Costa Rica will be low. Our 'Maestro de Obra' (foreman) was paid about $2 per hour during the period of construction. Other workers earn less.
Affordable Cost of Living
Only 1% of US households headed by folks age 62-72 have $1 million or more in assets other than their home. Now that might sound like a lot of money, but $1M today lasts less than 20 years assuming a rate of return of 7%, inflation of 3% and inflation-adjusted annual withdrawals of $75K. People understand that their money will last a lot longer with a Costa Rica retirement.
Having said that, demographically speaking, 46 percent of baby boomers are still in their '40s, so there are plenty of baby boomers who haven't started to think about their retirement. The more negative the political and economic environment becomes in the USA, the more receptive they will be to the idea of living and retiring abroad.
How Much Is The Food?
To give you a real idea about food costs, in one of Jo Stuart's recent newspaper columns, she compared the exact cost of a basket of fruits and vegetables purchased here in Costa Rica to the exact items purchased in a California farmer's market. She spent US$8.75 here and the same items in California cost US$29.47
The bottom line is if you eat a healthy diet full of fresh fruit, fresh vegetables, a little fish, chicken or beef, you and your family will be healthier and you'll enjoy significant savings on food living in Costa Rica.
But, if you prefer to eat highly-processed, imported food, you are going to pay through the nose for it and you are not going to be healthy.
Heating Costs
Who needs heating? Unless you are living at fairly high altitudes, you would not even think about heating... In over seven years of living here, I have only ever been in one home that had an in-floor heating system installed.
Water
Thankfully, Costa Rica gets plenty of water. In some of the Northern Guanacaste areas there is certainly a water management problem, primarily due to over-development and a lack of infrastructure, but we do have plenty of water.
Electricity
A significant amount of Costa Rica's electrical energy needs are met by renewable geothermal (volcanic) and hydro-electric power. Thus, Costa Rica is fairly well-insulated against oil price fluctuations and is able to maintain relatively cheap electricity price levels that are almost the lowest in the Americas. Telephone costs are also very low.
Obviously, if you live at the beach (where it is much hotter) air conditioning is essential for many people. This would increase your basic costs. However, in and around the Central Valley area you do not need heating and hardly anybody ever uses air conditioning.
Cars in Costa Rica Are Expensive
If you don't purchase a house (at least immediately), buying a vehicle will be your biggest outlay - new cars can be over a third more expensive compared to prices in the U.S.
Life Enriching Experience
Learning a new language is a rewarding and enriching experience and helps keep you and your brain alive. Becoming familiar with the culture and customs of a new people can be exhilarating, and we've come across dozens of people who came here single and are now very happily married.
I personally believe Costa Rica has the most perfect climate for the human body and I love the people - the 'Ticos'. They are still people with the same hopes and fears as you and I and there are good ones and bad ones....
For me to enjoy the same kind of extremely comfortable lifestyle that I love in Costa Rica in any major US or European city, I would (and I am NOT exaggerating) need to earn at least five times more than I am earning today.
Living in Costa Rica is not for everyone: The people may be a little too 'laid back' for you. But after living in 10 countries and traveling to many others, I honestly believe they are among the nicest people I've come across and certainly among the most physically attractive people in the world.
Submitted by Scott Oliver, the author of 'How To Buy Costa Rica Real Estate Without Losing Your Camisa' and 'Costa Rica's Guide To Making Money Offshore."
Retirement Hot Spot
Posted at 9:00 PM, Jun. 1, 2007
TEXAS A RETIREMENT HOT SPOT
TEXAS (Real Estate Center, The Dallas Morning News) – According to the North Carolina Center for Creative Retirement, Texas has passed Arizona and California to become the second hottest retirement spot for Americans.
This comes as no surprise to Dr. Mark Dotzour, chief economist with the Real Estate Center at Texas A&M University.
“Good weather and low cost of living has always made Texas one of the most attractive spots in the country for retirees,” Dotzour said. “The cost of housing in Florida and California has gotten so extreme that it makes sense that Texas becomes even more desirable to retirees from all over the country, not just from the midwest. And the exploding cost of insurance in Florida has really increased the cost of retirement there.”
Despite those costs, Florida held at number one, drawing 16.6 percent of retirees in 2005.
Texas, which was the number four destination based on 2000 data, attracted 6.8 percent of America's migrant retirees in the 2005 data, up from 4.8 percent in 2000.
BLOCK 21 GETTING 'MAGIC' TOUCH
Posted at 4:13 PM, May. 11, 2007
BLOCK 21 GETTING THE mAGIC tOUCH
AUSTIN (Austin American-Statesman) – Earvin "Magic" Johnson — yes, that “Magic" Johnson — and his private equity fund, Canyon-Johnson Urban Fund, are investing $50 million in a $260 million project that could transform a vacant downtown block.
Plans for Block 21, which is being developed by Austin-based Stratus Properties Inc., include an upscale 250-room W hotel and 200 luxury condominiums in a 35-story tower, plus new homes for the Austin Children's Museum and KLRU's acclaimed "Austin City Limits" music program.
Prices for the condos will range from about $400,000 to more than $3 million.
Johnson and K. Robert Turner, Canyon-Johnson's managing partner, said Austin fits the profile of cities where the fund likes to invest. The fund has also invested in projects in Los Angeles, San Diego, Miami, Milwaukee, Baltimore, Boston, Chicago and Brooklyn.
The Block 21 project is expected to create thousands of construction jobs and hundreds more jobs when the project opens.
Stratus plans to start building in September on a lot north of city hall.
What is a Blog?
Posted at 7:13 PM, Jan. 31, 2007
Definition
A frequent, chronological publication of personal thoughts and Web links.
Information
A blog is often a mixture of what is happening in a person's life and what is happening on the Web, a kind of hybrid diary/guide site, although there are as many unique types of blogs as there are people.
People maintained blogs long before the term was coined, but the trend gained momentum with the introduction of automated published systems, most notably Blogger at blogger.com. Thousands of people use services such as Blogger to simplify and accelerate the publishing process.
Blogs are alternatively called web logs or weblogs. However, "blog" seems less likely to cause confusion, as "web log" can also mean a server's log files.
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