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December 2007

Dec. 31, 2007 - Austin Architect AD Stenger

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 didn’t 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 Austin’s 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 world’s largest air-conditioned subdivision” in the 1956 Parade of Homes, Stenger didn’t 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 Stenger’s 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 $18,000 and $22,000, though today they can range from $400,000 to $600,000.

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. Today’s 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.

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.
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Dec. 29, 2007 - Feng Shui in Real Estate - The Landscaping

Feng shui can help you examine whether the landscaping of a home is good for ch'i (energy). The most ideal layout allows for energy flow, as well as providing an increased sense of space and movement throughout your home, although these principles apply equally well to your office or any other place that needs energy flow improvement. 1. Landscaping is important to the feng shui of a property as well. Are the trees healthy? Are there birds or squirrels around? That’s good. A big, open yard is good too, allowing for lots of good energy to flow into the front door. But remember, any garden should be larger in the back than it is in the front, and it should never be bigger than the house itself. This goes for swimming pools, patios, or a gazebo, and anything inside the house as well. Everything should be proportional to the house —doors, windows, or a fireplace. Anything that looks too big probably is, and that throws off the balance. 2. Straight lines are never good. For example, the front path should not be a “straight and narrow” sidewalk. A wide, winding path is a much better, allowing for a steady flow of good energy. (This is not a deal breaker though—a narrow path can be decorated with plants or statues to break up the line.) 3. Trees should not be super tall, especially close to the house itself. If they dwarf the home, they block light and hinder the flow of ch’i. The further from the house, the higher they can go. This is not really too big a deal when thinking about buying a property, as it’s easily corrected —there are, after all, many companies that can take care of this for a fee. But it’s something to think about. 4. The entrance is very important in the feng shui of the house, as it is how the energy gets into your home. There’s a lot to think about when it comes to the front door. It should not be set too deeply in the frame, it should face out into the street (not sideways, like in many duplexes), and it should open inwardly. It should not be further back from the garage, as the good energy should reach your door before any other part of the house. And once in the door, there should be no direct lines to the back door, a bathroom, the kitchen, or the bedroom, or you let the energy just flow right out. So watch for that. These feng shui principles basically deal with balance and flow of the property. The goal is to promote a better living environment, and they might be something to consider when purchasing a home. In Part 3, we will discuss the interior feng shui principles. While these principles are important to keep in mind, the key to using feng shui is to combine it with your own aesthetic sensibility in order to improve your surroundings in a way that is meaningful to you. As an agent in the Austin real estate market Ki works to help customers find the right home. You can search the Austin MLS on his website as well as learning about the market on his Austin real estate blog.
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Dec. 26, 2007 - The South Congress Area in Austin Texas

One of Austin's most exciting and lively strips is South Congress Avenue, which hosts dozens of interesting restaurants, bars, and shops.

Home Slice has often been rated "Austin's Best Pizza" by the Austin Chronicle, and the title is well-deserved. This restaurant, which sells "New York style pizza," is as close to authentic as you can get in Austin. (Individual slices are served on paper plates and the menu even includes directions on how to fold your slice like a real New Yorker.) You can go in and sit down to eat, or you can purchase individual slices at the window after 9:30 p.m. until late into the night. They also serve all-American desserts like Rice Krispy treats and cookies and milk.

Tesoro's Trading Company, with a sister store on Congress Avenue downtown, has a collection of South American artifacts that will make your head spin. There are Mexican "Day of the Dead" figurines, religious relics, clothing, accessories, tapestries, décor items and more. They even sell purses made entirely of clothing buttons. In addition to all the Latin wares, there are some pieces of art and jewelry in the Indian and East Asian styles.

Uncommon Objects is an antiques shop unlike any other. You could not even begin to predict the kinds of items you will find once you step through the doors. Whether you are in the market for 19th century photographs, vintage toys and furniture, jewelry, clothing, books or trinkets, the objects in this store are truly uncommon. It is also great just for browsing, whether you intend to purchase an antique item or not. One item of note is a weaving made from the locks of hair of various women hundreds of years ago. There is also a taxidermy-style stuffed armadillo. Regardless of what you find strolling along the aisles and weaving in between the myriad customers, it will make for an interesting shopping experience.

The St. Vincent de Paul Thrift Store is another small treasure that bears noting. It carries not just used clothing but furniture, books, music, movies and toys. There is an entire second floor where the latter items can be found, a veritable goldmine if you're in the market for things like a 25-cent Babysitter's Club book or some cheap wine glasses.

Ten Thousand Villages is a beautiful store with a beautiful purpose -- to sell merchandise that was made by disadvantaged artists in Africa, Asia and Latin America. Shoppers can feel good about the fact that their purchases promote fair trade and actually make a difference in the world. Not only that, but the craftsmanship of the products Ten Thousand Villages carries is outstanding.

South Congress is also a unique part of the Austin real estate market. The area contains cute older Austin homes built in the 1940s. Although it was a rough neighborhood at one point the homes are highly sought after now because of the plethora of stores and restaurants in walking distance.

An ideal day could be spent exploring South Congress on foot, taking the time to peek in to each of these places as well as several others. Finish the journey with a cupcake from the Hey Cupcake! trailer, and spoil yourself with a free whippersnapper (injection of whipped cream straight to the center of the cake). There couldn't be a more perfect South Austin afternoon.

If you are looking to purchase a home in the Austin Texas real estate market Escapeso can help you in your search. To start their website has a free search of the Austin mls along with news about Austin real estate posted on their blog.
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Dec. 24, 2007 - First Thursday’s on South Congress

Austin is a great place for families. All year round the city is full of events that cater to its citizens young and old. One of the most popular destinations is First Thursdays on South Congress Avenue where once a month the shops stay open late and the entire street becomes a pedestrian friendly party that the whole family can enjoy. The South Congress Area (or SoCo as it is now called) has long had a reputation for its eclectic shops, art galleries, and restaurants. On First Thursday, everything stays open until 10pm on South Congress between Riverside Drive and Ben White Boulevard.

For those with kids in tow, you may want to make your first stop the Big Top Candy Shop. They carry a wide selection of vintage candy that you’ll remember from when you were a kid as well as all the new verities that you may have not have tried. They also have an old fashioned soda fountain serving up hot chocolate, peppermint shakes, and desserts.

You may want to then head over to Lucy in Disguise, Austin’s largest costume shop for a quick game of dress up. Lucy’s opened its doors on April fool’s Day in 1984 and has grown into an 8,000 sq. ft. costume mega store. Whether it’s a funny hat or a Mardi gras mask, Lucy’s has something for everyone. It’s a great place to get lost among the rows and rows of wacky costumes.

A new addition to South Congress is the Farm to Market Grocery. Inside you’ll find a wide selection of specialty items and fresh fruits and vegetables. On First Thursdays it’s a great place to stop in for a quick snack or to pick up a piece of fruit to carry with you down the street.

If you’re looking for a gift, you should take a moment to step into Monkey See, Monkey! Doing their part of Keep Austin Weird, they specialize in bizarre gifts that you may not ever see again. Where else are you going to find a Sock Monkey Wine Coozy? They also claim to carry 7 out of the 10 stupidest gifts listed on yahoo.com. The best part is that they’re proud of it.

When you get hungry from all the walking and shopping, there are a number of great food options. Guerro’s serves up world famous Mexican Cuisine and some of the best Margaritas in town. It is also a favorite haunt of local celebrities and a great place to people watch. Homeslice Pizza serves up some of the best New York style pies in town. They’re so serious about their pizza that they closed the whole shop for a week to take the staff to New York on a pizza tasting tour. If you have a sweet tooth, you should head over to Amy’s Ice Cream, an Austin original that serves up their own unique ice cream flavors.

Fans of live music will have to check out the Continental Club, one of Austin’s most well known music venues. Every night of the week, they showcase both local and national touring acts. You may also want to check out their new gallery space upstairs, a comfortable lounge with live jazz and blues every night of the week.

There really is something for everyone of South Congress and First Thursdays offer an amazing opportunity to explore every hot spot in the street. You never know who you’ll see and are guaranteed to discover something new.

Ki is an agent working in the Austin real estate market. Visit his site to search the Austin MLS and get monthly statistics from the Austin real estate blog.
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Dec. 23, 2007 - Austin Neighborhood: Pemberton Heights

Pemberton Heights is one of the centrally located neighborhoods located in the central Austin real estate market.

High upon the bluffs overlooking Pease park, sits one of Austin’s exclusive, and somewhat overlooked, neighborhood, Pemberton Heights. The Austin Development Company created Pemberton Heights in the late 1920s, and lured potential buyers by offering "fancy $3500-$4000 cottages" as well as "$150,000 mansions." Their brochure touted, "over five miles of paved and shaded streets and sidewalks."

Today, Pemberton Heights is filled with sizable homes that are a wide variety of styles, from mid-sized brick bungalows to revivalist Tudor mansions. As opposed to many older neighborhoods in the central Austin real estate market, most of the original homes built in the 30s and 40s are still standing, with little sign of complete house demolition. It seems these residents enjoy the historic nature of their neighborhood, and the fact that many homes were built with enough square footage deemed "livable" by today’s standards, doesn’t hurt. Pemberton Heights is also appealing in that the lot sizes are somewhat larger than the lot sizes in most of the central Austin neighborhoods. Pemberton Heights is also located close to UT and downtown. But unlike west campus which is seemingly overrun by college students during the year Pemberton Heights is conveniently insulated from UT by Pease Park.

Many homes in Pemberton Heights have Texas Historical markers placed in their front yards, and for good reason. The Caterall Mills house, at 2524 Harris Boulevard, is an Early American Georgian revival, harking back to the glory days of George Washington’s Mount Vernon home. Its current owners, who bought the home in 1999, took great pride in restoring the home back to its 1937 original condition. The original owners of the home, Gordon E. Mills and Margaret Catterall Mills, were very prominent Austinites throughout the mid 1900’s. Mills was general manager of the Austex Chili Company, considered one of the three big companies in Austin during the 30s, alongside the University and the government. Austex Chili also played a prominent role in popularizing Mexican food throughout the rest of the U.S.

Though there are many original homes in the Pemberton Heights neighborhood, one stands out above the rest: The Pemberton Castle. This structure was actually built before the neighborhood began. Though it now lives on 1415 Wooldridge Drive, it originally stood on the outskirts of Austin in the late 1800s, as a water cistern for the city’s firefighters. In 1925, the cistern was turned into a Gothic castle, and was the sales office for the Pemberton Heights subdivision. In 1937, the castle was bought by UT professor of architecture, Samuel Gideon. Gideon salvaged bricks and stained glass windows from the university’s original Main Building, and transformed the structure into a livable home. Though in 1935, the castle could not be sold for the eight thousand dollars it was offered at, rumor has it film director Robert Rodriguez purchased the home for 2 million dollars in 2006. It was also featured in his 2001 movie, Spy Kids.

Eighty years after Pemberton Heights original inception, the "shaded streets and sidewalks," offered up in its original sales brochure, are still as peaceful and inviting now as they were then, and well worth a stroll.

Ki is a realtor helping people looking for Austin Real Estate. If you are looking for a house in the Pemberton Heights neighborhood Ki can help you in your search. You can also start your search online by searching for real estate using the Austin MLS.
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Dec. 21, 2007 - Why Liquidity is Important in the Current Mortgage Crisis?

In recent days, the Federal Reserve, the European Central Bank, the Bank of Canada, the Bank of England, and the Swiss National Bank have teamed up to auction $110 billion off to world money markets in order to ease the recent liquidity crisis. But what is liquidity? Why should banks auction off money to deal with it? And how does inflation play into this phenomenon? Well, for starters, liquidity refers to the amount of money available in a given market that can be loaned from one entity to another. If an economy is looked at as a machine, with thousands of interconnected parts, then liquidity functions like oil, keeping all the moving components lubricated. If there is not enough liquidity in the market, loans become more expensive and time-consuming, and economic growth is inherently restricted because banks are less willing to lend to each other, in case they are unable to cover their deposits. The Northern Rock bank runs in England are a perfect example of what happens when a bank cannot make good on their deposits. In today's globalized economy, banks depend on lighting-fast transactions of large sums through all parts of the world. If they are wary of lending to each other, as recent events have shown, currency supplies start drying up. With this in mind, the sub-prime crisis of recent months seems poised to further restrict growth, especially in the US. The central bank's decision to add money into the economy is designed to keep cash-flow consistent in markets, which will also hopefully help boost investor confidence. Unfortunately, the sub-prime debt still exists, and banks are unlikely to lower the inter-bank borrowing rates much until all the debt is declared on balance sheets. And with 2 million more defaults likely to occur within the next year, the crisis is far from over. This injection of cash implies that central banks are trying to stem a problem they recognize to be quite severe, as they have never taken such concerted, coordinated action before. But their course will certainly impact the other primary concern, that which central banks must balance liquidity with: inflation. This refers to price increases, which make currencies less valuable. If it takes $10 tomorrow to buy a Big Mac, then the US dollar has lost about 40 all at once, likely the outcome would be different. Only time will tell whether the huge cash injection will be enough to help banks lower their rates back to more growth-friendly levels. Working as a realtor in Austin Texas Ki runs a site about Austin Texas real estate which provides users a map based Austin MLS search. Also if you are looking for in depth commentary on real estate market Ki has a blog covering Austin real estate.
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Dec. 19, 2007 - Fed Restrictions Make Loans Tough

As a result of the recent sub-prime mortgage scandal, the Federal Reserve has taken many actions to avoid a global credit crisis, which it now aims to further mitigate through tightening the standards that lenders use to determine whether a potential borrower is eligible to receive a mortgage loan. Chairman Ben Bernake has stated that more rigid restrictions would "promote responsible lending," even as 2 million Americans with sub-prime predatory loans will likely default over the next year, furthering the housing slump. The first area in which restrictions have been made is on the borrower's end. Now, all lenders must ask prospective borrowers to prove that they have an income, or that the assets they rely upon to be able to pay off the loan under the terms agreed by the individual contract are soluble. The lender or creditor is now required to verify this income, and must also consider each borrower's ability to pay off the loan from other assets besides the value of their home. Furthermore, each new borrower is required to set aside other funds, specifically earmarked for property taxes and for homeowner's insurance. These funds are to be kept in escrow accounts, established by the creditor. These new rules are a drastic change in policy for the Fed, as they generally have not taken any actions towards adjusting lending responsibility, instead using their powers to control interest rates and try to ease economic hardship through making borrowing in general cheaper. Another area in which the Fed has taken regulative action involves the advertisements used to lure potential homeowners to buy. No longer can "deceptive or misleading" ads be used. Though the wording in this instance is vague, they do provide some examples. The rate for a loan cannot be stated to be "fixed" if it can change, for example. Also, brokers are unable to encourage or coerce a home appraiser into artificially changing home prices. This means that the housing bubble is less likely to inflate by a similar proportion in the future, thus limiting potential losses from another such crisis if it were to arise. Creditors are also now required to list all rates associated with a mortgage in an advertisement "with equal prominence as [their] advertised introductory or 'teaser' rates." The last section of the market to be adjusted involves servicing practices that have often contributed to the record mortgage defaults seen recently. Now, payoff statements are required more regularly, and must reflect all payment received by the lender. This regulation is designed to respond to the often problematic statements issued by lending companies to many sub-prime borrowers. Many mortgage balances would not reflect real payments, and fee notices would often fall through the cracks, building up until, finally, the borrower is financially overwhelmed all at once and cannot make repayments, thus losing their home. Repayment penalties have also been slightly adjusted, such that now penalties must meet the condition of expiring sixty days before the lender can increase the required mortgage payment. Each of these measures is designed to ensure that the days of predatory lending are over for now. Escapeso Realty helps buyers and sellers interested in purchasing property in the Austin real estate market. Visitors can either use their site to check the Austin MLS or find updates about the Austin market on their Austin real estate blog.
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Dec. 17, 2007 - FIRST NIGHT AUSTIN 2008 : SOMETHING DIFFERENT FOR NEW YEARS

Looking for something fun in Austin to do this New Year’s? Tired of late night drunken parties? Perhaps looking something a bit more kid and family friendly? Why not check out First Night Austin? Every December 31st the streets of downtown Austin Texas are transformed into a free performance and visual arts bizarre. The best part is that it is all free. The tradition of bringing in the New Year with a city wide celebration of the arts began in Boston in 1976. Since then, the idea has spread like wildfire to over 120 cities and communities throughout the United States, Canada, and New Zealand. While the first celebration in Boston brought in 60,000 people, now First Night brings in over a million people worldwide. This year the Austin festivities begin at 3pm and continue until just past midnight. There are many stages and events throughout downtown Austin. You may want to start you day over at Auditorium Shores where you could check out the Giant Games furnished by the Austin Children’s Museum. Later in the day the Trouble Puppet Theatre Company will be performing its show "Alchemy and the Wheel of Destiny.” If you enjoy the puppet you may want to head over to the Austin Children’s Museum where the United Way will be hosting a Puppet Making Workshop. What are the RoboSpinArt and the Pongonator? You’ll have to check it out for yourself. The project by the Robot Group will be on display all day at the Buford Tower on Caesar Chavez. The largest concentration of events will take place at the Austin City Hall Plaza on Second Street where Mayor Will Wynn will kick in the New Year at 7:30pm. On the headline stage you can check out a Persian Dance group, music by the Asylum Street Spankers, the Golden Arm Trio Brass Band presenting the work of Graham Reynolds, and Drum Jam. This is also the place to be for the midnight fireworks display. Inside City Hall, the Theatre Action Project takes over the Boards and Commissions Room with their Peace Crane Project. In the Council Chamber you can expect performances by the Chinese School of Dance, the Austin Vocal Arts Ensemble, the Austin Chamber Ensemble, and the Austin Wind Symphony. Whatever you do, be sure not to miss the Grand Processional. This giant parade takes over Congress Avenue at 6:15pm. You’ll be able to see pieces of almost all of the performances as well floats and the infamous "Celebrity Pedi-cab Race." New for this year the HBMG’s Creativity Incubator presents a theatrical showcase underneath the South First Street Bridge. Highlights of the showcase include "The Leash: A Psychedelic Western Operatta” by the Rude Mechanicals and The Debutantes and Vegabonds presentation of "Hubris.” So why not come out this year and join your fellow Austinites in bringing in the New Year with the new tradition of First Night Austin. There are certainly plenty of good times to be had and this year’s offering includes something for everyone. Ki is a realty professional in Austin Texas. His site covers the Austin real estate market and has a search of the Austin MLS for visitors. He also has a blog where buyers can keep up to date on the latest Austin real estate news.
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Dec. 14, 2007 - SXSW: Which admission option is best for you?

Every March, thousands of music lovers and industry insiders flock to Austin to party, network, and discover the next great band at the annual South by Southwest Music Festival. The weeklong music blowout has been packing them in since it was founded in 1987. Austin was chosen as the site for the annual festival because of its abundance of unique clubs featuring country, folk, punk, reggae, jazz, and rock artists on a nightly basis. In the late 90s, the festival added two new additions.

The SXSW Film festival begins the week before the music caravan roles into town and features first runs and world premieres of new films in theatres throughout the city. The newest addition to the SXSW menu is the Interactive Media Festival. Running concurrently with the Film Festival, the Interactive Media Festival focuses its lens on emerging media technologies. In addition to a three day trade show, the Interactive Media Festival has recently added Screenburn which focuses on emerging video games.

Each year, an estimated 8,000 participants and attendees flock to Austin for the duration of the festival generating millions of dollars worth of revenue to local businesses. With such a large population clamoring to attend the most popular events, access to the festivals multitude of performance and networking opportunities becomes top priority to everyone in town. There are a plethora of admission options designed to accommodate the needs of such a diverse crowd of festival goers. The individual must then decide what admission option best meets their budget, as well as allows them access to the events that they wish to attend.

For industry insiders and those with money to spend, the Platinum Badge offers access to every event including special screenings and panels and runs between $775 - $1050 depending on the date that is purchased. By buying early, you can expect substantial savings on every admission option to the festival. Those wishing to skip out of the Music Festival can purchase the Gold Badge ($500-650) which includes admission to both the Film and Interactive portions of South by Southwest. Those who wish to attend only a single portion of the festival may purchases individual badges for Music ($500-650), Film ($275-400), and Interactive Media ($325-450). In addition, students with valid ID may purchase a student badge ($275-300) for the Film events only. All badges may be purchased online beginning in the September preceding the festival.

The second tier of admission options is the wristband which allows festival goers access to some of the Music Festival showcases. For each event, badge holders are allowed in first, if there is still room in the venue, wristband holders are allowed to enter. This year, SXSW has decided not to make an announcement about when the wristbands go on sale. The sale will be announced on the day the wristbands go on sale. There are only 2000 wristbands available ($120-160) and you must have proof that you are a resident of Austin to purchase one. For those who do not wish to purchase a wristband or a badge, there are a number of free events throughout the city. Also, it is possible to purchase walk up tickets to individual film screenings and music showcases if there is space available after all the badge and wristband holders have entered.

Ki is a broker in the Austin Texas real estate market. To search for homes, you can try his Austin MLS search and read about the current market conditions on his Austin real estate blog.
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Dec. 12, 2007 - The Latest Federal Rate Cut - Another Attempt to Bolster the Real Estate Market

The Federal Reserve cut interest rates on Dec. 11th on hopes that the credit crisis would be tempered from 4.5% to 4.25%. Markets were on the upswing up until the cut was announced because many investors were under the impression that the central bank, under pressure from all sectors of the economy espicially real estate, would deliver a heftier half-point cut, which would have made it significantly less difficult for banks to borrow money from the Fed for their day-to-day transactions. While the rate cut was still welcome from all fronts, the quarter-point cut disappointed many investors, resulting in a 200 point drop in the New York Stock Exchange within a matter of minutes. Consumer confidence is at a five-year low, reflected in markets around the world. However, the extreme volatility of recent months has been as much a function of investor skittishness as of the credit crunch itself. While most of the sub-prime mortgage fallout has been focused within the real estate market, investors who are uncertain of market conditions will be less likely to invest more, thereby limiting growth. If the Fed had taken a different approach to their sole mechanism for assisting economic growth, investors would, in all likelihood, have a much better disposition. Over three months they have cut the rate a total of one percentage point, each cut instigated by liquidity difficulties and the sub-prime woes. Now credit is barely more available, and the only plan offered to circumvent the housing slump is laughably inadequate and initiated by lenders. Nothing significant has changed, except that oil prices have fallen from their incredible highs to a slightly less incredible high, and that most Americans are worried even more about their homes. A concentrated drop of one percentage point in one month could have signaled a much more decisive Fed, restoring faltering consumer confidence through a message saying that effective measures exist and will be taken. By diluting the interest rate cuts over a fiscal quarter, the potential gains to be made by the resulting rate are less impressive, especially on a spooked market. Fortunately, another rate cut is on the horizon, probably in January. Thus they are able to reduce rates without making a serious statement in regards to the uncertainty investors feel, and in fact exacerbate its results on the market, as shown in the recent cut. Yet their course does ensure that change will occur, even if not in the form and timeliness one might expect. Another concession to recent events comes in the primary discount rate cut, which helps boost the amount of currency available for banks to lend to each other, from 5% to 4.75%. With projected growth estimates all <1% down for 2007, and since the estimated 2 million defaults from sub-prime mortgages have yet to be realized on the marketplace, the Fed seem to be taking any precautionary measure they can, short of decisive action. By responding only when it appears like everyone else in this troubled financial climate, they don't fully understand what the fallout could do to the larger economy. If you are interested in investigating the Austin real estate market Escapeso can help in your search. Their site has a Austin MLS search along with information on Austin condos.
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Dec. 10, 2007 - Local Austin Texas Artist : Brian David Johnson

Johnson's Austin roots run deep. His great-great-grandfather immigrated to Austin in the 1850s from Sweden, and his family still remains. After several years of working with carpenters and a fine woodworker, Johnson has gained the knowledge and experience to create fine heirloom pieces with all the handmade precision of his forefathers.

Johnson started with small creations, such as wood veneered lamps, and quickly began building several different pieces, working against the old adage of, "form follows function." Johnson's technique relies more on his creative side, and how he wants a piece to work, then concentrates on the nuts and bolts of the project.

In 2002, Johnson established Brian David Johnson Fine Craft and Design, and now works out of the Splinter Group Cooperative workspace in east Austin. The Splinter Group houses other self-employed woodcraftsmen, each with his own design niche. Johnson defines his work as contemporary with organic sensibility.

After originally designing a coffee table for a client, Johnson entered a revamped version of the table into Design Within Reach's Floating Chair show, which featured contemporary handmade furniture from local designers. Now known as the Yama coffee table, this massive curved piece of wood is sold through IF+D, a furniture store in Austin's Second Street District. Along with building benches for Whole Foods in Austin, Johnson has spent the past couple of years building the majority of cabinets and built-ins for the Tortuga residence on Lake Austin (a massive remodel run by Austin's design/build firm Bercy Chen Studio, and recently featured in the Design Vanguard issue of Architectural Record magazine).

Though Brian David Johnson is kept busy meeting clients, building furniture, and working from the office, he also finds time for his duties with the Architectural Artisans Collaborative, for which he is the president. As their website states, the Collaborative is, "An organization of professional, highly skilled artisans, architects, and artists dedicated to the renaissance of architectural craft in buildings constructed in Austin and central Texas."

At the recent East Austin Studio Tour, Johnson had pieces of his work on display, and explained his different methods. In the corner of the workshop stood a purchase he had made a week earlier at the Settlement Home Charity Sale. It was a chair created by mid century furniture designer Hans Wegner, known simply as The Chair, that he picked up for a few hundred dollars- a better deal than the four thousand dollar price tag The Chair goes for fresh out of the factory.

The Chair is a true marvel of precision and craftsmanship with only 200 to 300 made every year. Johnson was actually chosen by the seller after realizing he designs furniture with the same sustainable aesthetic that goes into Wegner's 1949 masterpiece. Though Johnson tries to use sustainable materials in his work, he concentrates primarily on insuring his furniture is well made, and will last a long time, instead of ending up in a landfill ten years from now. When Brian David Johnson builds a piece of furniture for a client, he also builds a relationship with them- a personal touch that cannot be found in a mammoth IKEA store.

Ki Gray is a broker in Austin Texas. His site provides comprehensive information about Austin real estate and provides a search for the Austin MLS. His Austin real estate blog provides additional analysis on a monthly basis.
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Dec. 8, 2007 - Waterloo Records: An Austin Original

Since 1982, Waterloo Records has been providing Austin with music for all tastes. Winning "Best Record Store" in the Austin Chronicle Reader's Poll since its inception explains why Waterloo Records still stands when many other record stores have fallen.

John Kunz partnered with Louis Karp to open Waterloo, and five years later he became the sole owner. Waterloo Records was originally located at 221 South Lamar, and sold vinyl records exclusively. After outgrowing the 1200 square-foot store, Waterloo moved 2/3 of a mile north to its current location at 600 N. Lamar. Though they have expanded into CD and DVD sales, they still pride themselves on having a large selection of both new and used vinyl.

The Waterloo staff, made up of primarily local musicians, is extremely helpful and knowledgeable about the expansive library, and if a record or CD is not readily available, it will be ordered on the spot. Waterloo has listening booths and stations where any item in the store, on any format, can be listened to- not just those artists who have paid top dollar to be preloaded into the listening station. Waterloo does away with genre categories, and mixes all acts together alphabetically so customers don't have to figure out whether their favorite group is listed under Rap, Rock or Punk. Not satisfied with a purchase? Waterloo takes back all music bought from the store within ten days, even if the customer decided they didn't like the record after all.

Waterloo Records is known nationwide as an iconic independent record store, much like Amoeba Music in California, or Vintage Vinyl in Missouri. Tourists don't just stop in for the great music available, but also for live in-store performances by national and local acts. Nirvana played a live performance at Waterloo the day their Nevermind record was released. Not only can one purchase tickets to live shows from Waterloo, but it's also the only venue from which to purchase a wristband to the South By Southwest music festival held in Austin every March, causing nationwide frenzy for out-of-towners to make a friend in Austin quickly before the coveted passes are sold out.

Since Waterloo Records is in the hub of the "Live Music Capitol of the World," John Kunz has kept his promise to local musicians by carrying any and all local acts that have a release to grace the shelves. Most would assume that a record store in Texas would carry predominantly Texas artists and would pander to traditionally popular genres in Texas, such as country-western, blues, and rock. But Waterloo has always been known for an exceptionally wide variety of mainstream and independent artists of every possible musical persuasion. From electronic dance music to Stevie Ray Vaughn's box set, Waterloo has it all (or they'll order it). 25 years after Waterloo Records opened for business, the store's slogan, "Where The Music Still Matters" actually means what it says.

Ki helps people looking in Austin real estate market. He offers a unique Austin MLS search in addition to his Austin real estate blog
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Dec. 7, 2007 - The Alamo Drafthouse - An Austin Original

Not many new businesses open their doors and become an immediate Austin success, but the Alamo Drafthouse is an exception to the rule. In 1997, Tim and Karrie League opened the Alamo Drafthouse in a downtown Austin warehouse building that was being used as a parking garage, playing mostly second run movies. Their twist to the movie-going experience was to offer food and drinks brought to the viewers by black-clad servers.

The Alamo Drafthouse caught on quickly, and soon changed their programming to include creative lineups of movies and complimentary cuisine, such as Spaghetti Westerns with Spaghetti Feasts, drawing Austinites looking for a dinner and movie experience out of the norm.

In 2001, the Leagues purchased and renovated a 4 screen art house theater on Anderson Lane, and the Alamo Drafthouse Village was born. The Village location provided first run movies, which freed up the original Drafthouse to concentrate on unique programming 100% of the time. It's this programming that has transformed the Alamo into one of the most innovative movie theaters in the country.

Along with pairing food and movies together, the Alamo Drafthouse hosts Sing-A-Longs to packed Musical-loving houses, and Quote-A-Longs that serve up quote-worthy movies, such as Blazing Saddles. Every Wednesday at midnight, the Alamo provides a bizarre gem completely free, pleasing the broke college crowd who can be entertained while enjoying a couple beers for a small amount of money. Possibly the most popular event held at the original Alamo location was Mr. Sinus Theater, Austin's own take on the popular Mystery Science Theater 3000 television show, with live comedians poking fun at poorly made films, and popular classics alike. Though Mr. Sinus has gone by the wayside, a faction of the original comedy troupe has formed Master Pancake Theater with a similar theme.

The Alamo Drafthouse also builds a sense of community with their patrons by letting them actually partake in the fun and creativity. Putting their own twist on the Karaoke craze, the Alamo created "Movieoke" letting fans choose clips from their favorite movies to "perform" live up on stage, with the movie playing behind. They also host a "Make a Movie in 48 Hours" challenge for budding filmmakers to show what they can do in a limited amount of time, with the winner chosen by a panel of celebrity filmmakers. The Alamo Drafthouse is also home of the Air Guitar Championships for those with the best air guitar chops in the land.

Stepping outside of the box a little further, the Leagues purchased a giant inflatable movie screen for film screenings in remote locations. Deemed the Rolling Roadshow, moviegoers could paddle a canoe down a river, and eat dinner on its banks while watching Deliverance, or spend the day at Camp Hack-n-Slash before watching horror camp movies all night long. This past summer, the Rolling Roadshow headed across America screening famous movies in famous places, like North By Northwest at Mount Rushmore.

In 2004, Tim and Karrie League sold the company, the intellectual rights, and brand to Terrell Braly and John Martin. The new owners of the Drafthouse are expanding the theaters, with an eventual goal of 200 nationwide. The Leagues did retain the rights to the original Drafthouse, the Village, and the South Lamar location that opened in 2005. With skyrocketing costs in the warehouse district, the Leagues recently renovated the 1929 Ritz Theater on 6th Street, and it serves as the new heart for the Alamo Drafthouse. It opened November 2nd, with the Leagues coming full force, screening a Triple Feature of Attack of the Mushroom People, including a Mushroom Feast, a sneak peek of the Coen brothers newest release, No Country for Old Men, and Quentin Tarantino flying in for a Terror Thursday screening of War of the Gargantuas.

The Austin Real Estate Market has numerous submarkets. Ki is an experienced real estate agent that helps potential home buyers. His site has a free search of the Austin MLS along with a information on neighborhoods like the Crestview Neighborhood
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Dec. 6, 2007 - Weathering the Storm of the Slipping Dollar

The greenback has been slipping against the euro, the Chinese Yuan, and the pound for the past nine months or so, reaching record lows amidst a global credit crunch and plummeting real estate prices. What does this mean for US growth? According to the Federal Reserve, projected economic growth will slow from more than 2.5% to around 1.8%, and inflation remains a concern. But one figure does not an explanation give. The slipping dollar is an indicator of how strong and robust the US economy is, relative to other countries and currencies. As news of record mortgage defaults, volatile markets, and skyrocketing oil prices continue to trickle in from throughout the US, consumer confidence has tumbled and with it their spending has tightened. This signals an impending shift that Americans will have to weather, but which actually provides a useful impetus for making some fundamental changes in the economy. If Americans are forced to actually save, (rather than going into negative savings, as the average American has within the past two years) a falling currency can actually be absorbed without causing economic devastation. Simply put, most Americans don't plan for their economic future very well, and are in fact in debt more often than not. No matter how much growth the US economy may generally experience, it is unsustainable for our present levels of spending to result in a beneficial outcome indefinitely. Therefore, a falling currency forces a necessary economic reality to be faced, which may have a much better end result, even if the transition is somewhat unpleasant. A depressing currency also makes US exports cheaper for other countries, hence ensuring that demand for American labor will be attractive to foreign interests. While this may guarantee some growth, if US manufacturers aren't hiring Americans, (because we aren't willing to do the work and illegal immigrants are) the US cannot reap these benefits. Hence another attitude shift is in order: That there are no jobs in America that Americans should be unwilling to perform. This has been a huge strength in US history, as American manufacturing and industrialization fueled its development into an economic powerhouse throughout the twentieth century. The falling dollar is also beneficial in that OPEC prices oil in dollars. This means that even though oil almost reached 100$ a barrel within recent weeks, it was still less expensive than it could be if they decided to price oil in euros. Therefore OPEC absorbs the weakness of the dollar in tandem with consumers, thus placing no special burden on Americans. If they were to price oil in another currency, Americans would be hard-hit, but perhaps the US would be able to cut back its dependence on foreign oil. It's possible that rising oil prices, coupled with the other factors mentioned, could trigger the growth of alternative energy production on a wider scale. Above all, the US benefits from a less powerful currency because the current model for economic growth is unsustainable, if not downright foolhardy. In order for America to remain a world leader, it must be able to lead more than amount of products consumed. The US also has to be able to produce more sophisticated solutions for its weaknesses at a lower cost, which it now has the opportunity and incentive to do. Escapesomewhere Realty is a company focused on the Austin real estate market. Their site provides a powerful search of the Austin MLS along with current information on the Austin market on their Austin Real Estate Blog.
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Dec. 3, 2007 - The Impending Subprime Interest Rate Freeze

The White House has recently unveiled a plan to help mitigate the wave of foreclosures that have recently swept the US as reports continue to predict that an even greater number (some estimate as much as 2 million) of Americans are likely to default within the next year. This plan involves the major US lending companies making an agreement to freeze the relatively low "teaser" interest rates that many Adjustable Rate Mortages are set up with, instead of allowing them to reset at their regular time, usually two years from the loan's issue.

These subprime loans have an artificially low introductory rate of between 7 and 9% and increase to 12% or more after the grace period, which many real estate owners have been unable to cope with in recent months, sending shockwaves through global markets as investors in mortage-backed securites have been spooked. As their loans have defaulted, the bonds that have been repackaged and sold have become basically worthless. Bush's talks with mortage companies have been concerned with solving both aspects of this problem by extending the introductory rates to a select cross-section of subprime borrowers, thus preserving some of the cashflow supposedly guaranteed to those investors who believed the AAA bond rating for the securities into which these mortages have been sold off. Since the cost of a forclosure is often over $50,000, the investors have little choice if they want to salvage any of their investment.

However, the standards used to judge which borrowers qualify for the rate freeze have been left (some say intentionally) vague. They have stated that those who are already in danger of default will be given no assistance, as well as those who can afford to pay their mortages at the increased rates. What is unclear is how the lenders will determine who is able to pay. Those who fall into the middle bracket, or who are likely to default at some point if rates increase but who are able to make their payments now, are the targeted borrowers for the freeze, which is proported to last from two to five years past the date at which the rate would normally reset. Therefore, some foreclosures are still guaranteed, but the specter of falling property values, which threaten to send the entire US economy into a tailspin, will hopefully be offset somewhat.

Many economists have recognized the mortage-related woes as a necessary reassessment of the American economy. In combination with the falling dollar, recent developments in this crisis make it clear that the housing market of the US has artificially inflated for years, which would have to be corrected somehow anyway. And, while this scenario is relatively unpleasant, the US has had unsustainably high levels of consumer spending, coupled with the lowest percentage of consumer saving in three decades. These statistics point towards a reckless tendancy of many Americans to spend because the economy will always grow. While this assumption has helped industrialize the world through American spending, it may do harm in the long run. With any luck, the real estate landing will be softened and Americans will be more apt to work with their lenders. If not, it may just encourage more recklessness by the government's taking responsibility for the market's woes. Only time will tell.

If you are looking for a property in the Austin real estate market Escapesomewhere can help you in your search. If you want to search your Austin home search online you can use their site to search the Austin MLS. They also have a page describing the Austin Condos coming up in downtown Austin.
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Dec. 1, 2007 - The University of Texas

The University of Texas, with its flagship campus in Austin, is one of the original eight "Public Ivys," according to Richard Moll. Moll coined the phrase in his 1985 book, Public Ivys: A Guide to America's Best Public Undergraduate Colleges and Universities. The phrase has since come to include many more universities who offer an Ivy League education at a public university price.

UT earned such a distinction by providing a quality education for undergraduates since it opened its doors in 1883. As far back as 1839, the government of Texas set aside 40 acres of real estate in Austin for the purpose of starting a public university. They named the area College Hill. Construction did not begin until 1881, when Austin was officially made the main campus for the new university. By this time, Texas A&M had already beaten it to being the first university in Texas. Unfortunately, one of the most memorable points in the history of the University of Texas was when Charles Whitman barricaded himself and a rifle at the top of the Main Building Tower in 1966. He shot and killed 14 people.

Today, UT is one of the largest universities in the U.S. Enrollment reaches nearly 50,000 each year and the sprawling campus covers 350 acres near downtown Austin. Students and the public have access to seven museums and 17 libraries with over eight million volumes. Among its collections, the university owns one of only 21 copies of the Gutenberg Bible and the first photograph ever taken, created by Nicephore Niepce.

In terms of academics, UT consistently ranks very high. U.S. News and World Report ranks UT the 44th best university in the country and the 12th best public university. Many of its individual programs rank highly as well. For instance, the engineering school ranks in the top ten and the business school, fifth.

In athletics, UT also excels. Football is king in Texas and the UT Longhorns are consistently one of the best teams in the country. In 2005 won the NCAA national championship in Football. UT has also traditionally been successful in baseball, basketball, and swimming and diving. All large universities have their rivalries and for the Longhorns, its Texas A&M. The Longhorns and the Aggies have the third-longest running rivalry in the U.S.

In its long and distinguished history, UT has produced many successful graduates. Farrah Fawcett, Janis Joplin, Renee Zellweger, Roger Clemens, David Geffen, and many other famous people graduated from UT Austin.

The University of Texas along with the state capitol offers a steady economic base to the city of Austin that is able to stabilize Austin as other industries in Austin ebb and flow. For instance during the tech downturn in 2000/2001 which affected many cities in the United States part of the brunt of the economic downturn was mitigated by the employment base of University of Texas and the state capitol.

UT is an integral part of the city of Austin. Residents enjoy the atmosphere of prestigious athletics and academics that the school adds to their city.

Escapeso is a company which provides services in the Austin Texas real estate market. If you are researching the Austin market you can start your home search by searching the Austin MLS or you can find information on their blog about Austin real estate
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