Archives
April 2008
Apr. 29, 2008 - Home Improvement Tips : Bathroom Renovations
One of the most popular areas of a house to renovate is the bathroom. There are many different ways to renovate a bathroom, from small surface changes to completely gutting the room. With some forethought and elbow grease, there are renovating techniques the do-it-yourselfer can accomplish, while saving money at the same time.
The first rule in any renovation is to start with a budget, and stick to it. After a budget is set, one must decide on how serious of a project the renovation will be. Surface alterations can be done fairly quickly and cheaply, while rearranging the layout of the bathroom, such as moving the toilet to a new location, will be more labor intensive, and require a contractor to move plumbing lines. A complete tear out is the most difficult, as well as money and time consuming, but is sometimes necessary if several years of moisture has begun to rot the bathroom’s wooden framework.
Hopefully moisture hasn’t penetrated the bathroom’s joists and studs, but it’s quite possible that drywall will have to be replaced. Today there is moisture resistant drywall called greenboard. If a wall is being replaced inside of the shower, a cement backerboard must be used that moisture cannot penetrate.
Many bathroom renovations revolve around the shower or tub. For the do-it-yourselfer, installing a prefabricated shower enclosure or tub is possible. The other option is a tiled shower or tub, which involves building a frame from scratch, and is best left to a professional carpenter. Though prefab showers were once fairly basic, today there are a variety of styles, colors and textures from which to choose. The units can come in one solid piece, to minimize assembly, and also panels if the complete unit can’t fit through the bathroom door (which is the case with many older homes).
There are a wide variety of flooring options for bathrooms, but steer clear of wood floors which will warp from the humidity. Ceramic tiles are the most popular choice for bathroom flooring, as it’s completely waterproof when sealed properly. There are also almost limitless combinations of shapes, sizes and colors combinations of tiles and grout that will fit all tastes. All floors must be level before laying down tile, which can be easily achieved by mixing a self leveling compound that is then spread across the floor, evening out any inconsistencies.
A new sink or vanity can spruce up a bathroom as well. There are many popular styles, such as wall mounted sinks, pedestal sinks, and vessel sinks that are fairly easy to install. It’s often possible to use the current sink piping to reconnect to an updated sink which can drastically change a bathroom’s appearance.
Some of the most effective updating can also be the easiest to do. Changing all the hardware, such as drawer pulls, faucet handles, and shower heads, can make a great impact, especially when they are all pulled together with the same materials, such as stainless steel, bronze, or brushed nickel. The cheapest home improvement choice of them all- paint- can also give a bathroom a new feel. Ditching a bland, frameless mirror for a new, large one with a funky frame is also an easy fix.
Sometimes the cost of new bathroom features is the priciest part of a renovation, but looking beyond big box stores can save cash. The local craigslist may have a treasure being thrown out by another remodeler with a different taste. Ebay can work the same way. Buying discontinued tiles is another good money saving technique, but remember to pick up extras to replace damaged tiles in the future.
Most remodeling techniques can be learned, but a contractor may be necessary to deal with new electrical or plumbing lines- it will be worth the money for it to be done correctly, and they will follow building codes properly. Getting referrals from trustworthy friends is always advisable when looking for a good and efficient contractor.
Ki is real estate agent in Austin. He runs a website which provides a free search of the Austin MLS along with information on Austin real estate. His site also provides users with a free mortgage calculator to estimate monthly payments.
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Apr. 29, 2008 - Credit Crunch: Light at the End of the Tunnel
When thinking about the economic slowdown now gripping the United States, one might think of the naked emperor of yore, who could not realize his condition until told by a child. By the time analysts and the White House recognize the extent of the credit crisis, its effects will probably not be noticeable. So where are we now? Several times since last August's signs of an imminent drop in growth, markets have rallied due to speculation that problems in the area of sub-prime mortgages have "bottomed out." Alas, thus far it appears to have been in vain.
On April 25th, Reuters and the University of Michigan reported in their Survey of Consumers that consumer sentiment fell ever deeper in April to settle at 62.6 from 69.5 in the preceding month. Not only is this the third straight month that consumer's outlooks have remained downbeat, but this month's ratings are the lowest in 26 years. The last time consumers' finances were as stressed was in 1982, which was due to the "stagflationary" economy of the time. Stagflation refers to a stagnating economy with low or limited growth prospects coupled to high inflation. The recent recession came from a different set of circumstances, but consumers are feeling the pinch all the same. While inflation remains a key factor for monetary policy makers and politicians, estimates of core inflation (which excludes volatile food and energy prices) remain low for now.
This is a good thing, because it has allowed the Federal Reserve a lot of leeway regarding monetary policy. They have cut the interest rate they charge for lending to commercial banks by nearly three full percentage points since the onset of the credit crunch last summer, and are poised to cut rates 25 further basis points at their next rate-setting meeting April 30th. However, interest-rate futures contracts also predict a 20% chance that they may not cut the rate at all, signaling a possible end to further monetary stimulus. It is unclear whether inflationary concerns or macro-economic stability is guiding the Fed's decisions because, since rate cuts began, food and energy prices have also skyrocketed.
While this doesn't normally affect core inflation to a significant degree, over a protracted period of time prices will continue to increase for everyone. In addition, the Treasury's stimulus package is set to begin arriving to millions of American consumers at the end of April, four days ahead of schedule. The Bush administration and other prominent authorities have touted the $152 billion influx as a means to increase spending, which accounts for two-thirds of the US economy. While consumer spending should begin to pick up somewhat, surveys have shown that many people plan to spend their check one of two ways: relieving personal debt (which reached epic proportions in 2007), or adding to savings. This reflects both how necessary a lump sum of cash is to many poor Americans, and how much spending has been curbed. Until spending picks back up, the service sector will continue to ache. Promising numbers in manufacturing orders for April also reflect strong fundamentals, even as the housing and construction industries continue to slump It may be presumptuous to assume that the US is out of the proverbial woods, but there may yet be light at the end of the tunnel.
Ki lives in Austin and works as a real estate broker in the Austin real estate market. He provides a free search of the Austin MLS on his website along with information on mortgage interest rates.
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Apr. 27, 2008 - Profiles in Green City Programs: Austin Texas
Several cities across the US are noted for their progressive city governments and citizenry in regards to environmental issues. Known as “green cities”, they not only initiate and practice policies that promote clean air and water, but often promote other programs and practices such as alternative energy systems and construction methods.
Austin, Texas consistently places in the various lists of the greenest cities in the US and the world. The Green Guide, affiliated with National Geographic, chose Austin as number 2 on its list on Top Green Cities in 2006. Criteria for its choices included air quality, electricity use and production, environmental perspective, environmental policy, green space, transportation and water quality.
A commitment to solar energy and green building is what won Austin its place on Green Guide’s list. The city offers some of the most generous rebates in the country for customers who use solar energy. It also buys significant amounts of wind energy from wind farms in West Texas and plans to meet 20 percent of its energy needs with renewable sources by 2020. Austin also has established high standards for energy efficiency for its central business district and has initiated progressive policies to preserve water quality, ensure proximity to mass transit, and maintain a pedestrian-friendly urban design.
But it’s not just the city government that promotes green urban living. Many of Austin’s creative citizens are becoming known around the country and the world for their initiative and success in creating local, community based projects that promote green lifestyles and a more healthy, cleaner urban environment.
The Rhizome Collective was founded in 2000 as a center for community organizing and urban sustainability education. The collective took an old warehouse with an asphalt parking lot and have turned it into gardens, ponds and greenhouses that support tilapia, catfish, turkey, ducks and chickens. They host weekend workshops and seminars to teach people from around the world that they don’t have to wait on governments and corporations to go green, but they can start implementing their own projects with little background in engineering or the sciences.
Austin has permitted a number of private individuals to employ alternative construction methods to build homes inside the city limits, notably straw bale construction. In 2001, there were about a dozen homes in the Austin area that were built from straw, including at least three inside the city limits. In addition to such progressive construction methods, the city has also permitted some people to recycle old buildings, such as warehouses into condos and upscale or innovative commercial properties.
Another citizen-initiated project that has contributed to the eco-quality of the area is the Carshare initiative. This company allows members to pick up a car for a day at various locations around town. In this way, members can save money by not having to pay for their own private car (and consequently not having to pay for insurance, gas, maintenance and parking!). It also helps reduce the amount of air pollution in the city by reducing the amount of automobile traffic in the city.
Finally, there is Good Common Sense, an online store founded by well-known and highly respected Austin musician Chris Searles. Formerly a drummer for such notable artists as Alejandro Escovedo and Shawn Colvin, Searles founded Good Common Sense in an effort to help consumers make the kinds of choices that will help make the world a greener, safer place to live and work. His store offers products that are environmentally friendlier than many products consumers might find in regular stores and shops. Consumers can find home weatherizing products, compostable dinnerware, fuel enhancer devices, and all kinds of recycled products.
Ki helps clients looking for green and environmentally friendly homes in the Austin real estate market. Potential buyers can use his site to search the Austin MLS along with using his free mortgage calculator.
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Apr. 26, 2008 - The University of Texas Campus Area of Austin
The University of Texas at Austin is one of the five largest universities in the country, and currently nearly fifty thousand students attend the university, which is home to the U.T. Longhorns. Most of the students live in the U. T. campus area, which encompasses an area from Interstate 35, which runs along the eastern perimeter, to Lamar Boulevard, which circles the western edge of the campus, including numerous fraternity and sorority houses. The campus also extends to Martin Luther King to the south and the campus itself is just a mile or so north of the State Capitol Building and the Capitol complex. The northern edge is roughly around 27th Street, and among these fours borders are some of the most interesting sights in the Austin area.
There are many nice apartment buildings, condominium projects and single as well as multiple family dwellings in the campus area, with prices affordable enough for new students and nice enough for faculty, grad students and the more affluent. There are many “commune-style” homes in the area, which require the residents to share the chores, bills, meals and other expenditures and are very affordable due to the shared financial input of the inhabitants, but don’t offer quite as much privacy as a traditional apartment complex. However, these residences do offer more of a home-like atmosphere, which appeals to the newer students. Many of the commune-style homes, apartments, condos, sororities and fraternities are situated within a block or two of “the Drag”, which is how the students refer to Guadalupe Street, the major thoroughfare through the campus area. North of the University of Texas is the neighborhood of Hyde Park which some students can on occasion find a house to rent. But since Hyde Park has become a more desirable neighborhood over the last 10 years rents can be expensive. If students go a little farther north they find the North Loop neighborhood where rents are a little more affordable.
The east side of “the drag” skirts the western edge of campus proper, which includes the U.T. Tower, student union, various education halls, and the West Mall, where campus-related political gatherings are held outdoors. Many students can be found reading, walking to and from class, or eating on the steps and benches which are strategically located in the west campus area, or at many of the food kiosks and stands, which feature ethnic fast foods of all kinds, especially many oriental and Indian foods.
Students of all nationalities attend U.T., and all of them can find regional cuisine in the area, even on the campus itself, with the Texas Union offering a wide selection of meals, drinks and snacks. The other side of “the drag” encircles an area which is full of shopping boutiques, churches, student centers, restaurants, bookstores and one of the largest assortments of street vendors in the Austin area. The street vendors sell a little bit of everything, but seem to specialize in silver jewelry and Indian clothing, as well as hats, shirts, other clothing items, music, posters and memorabilia. These items are usually quite inexpensive, and a vast selection of styles, colors, and regional favorites can be found in the numerous stalls full of merchandise which line the west side of Guadalupe Street. There are also ice cream shops, pinball parlors, and many clubs, some of which offer live music.
Ki helps individuals looking for Austin real estate. His website provides updated statistics on his Austin real estate blog along with a search for Austin Homes.
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Apr. 26, 2008 - Whats Going on with Mortgage Rates this Week
April 24th, 2008
30-yr 6.03 15-yr 5.62% 5-yr ARM 5.68 1-yr ARM 5.29
April 17th, 2008
30-yr 5.88 15-yr 5.40% 5-yr ARM 5.48 1-yr ARM 5.10
April 10th, 2008
30-yr 5.88 15-yr 5.42% 5-yr ARM 5.56 1-yr ARM 5.19
April 3rd, 2008
30-yr 5.88 15-yr 5.42% 5-yr ARM 5.59 1-yr ARM 5.18
After holding steady for a few weeks it looks like current mortgage interest rates have increased pretty much across the board. Most of the mortgage products increased by about .2 points except for 30 Year Rates which increased by .15 points. Compared to mortgage rates for the last 2 years rates are still relatively low.
So what does this mean for mortgage payments. Lets look at what these rates would mean for a loan of 200k. Using our free mortgage calculator lets take a quick look.
April 17th, 2008
30-yr $1183.71
15-yr $1623.57
5-yr ARM $1133.06
1-yr ARM $1109.36
April 24th, 2008
30-yr $1202.96
15-yr $1646.93
5-yr ARM $1158.26
1-yr ARM $1085.89
Because 30 Year rates did not increase as much at rates on ARMs I would still recommend getting a 30 Year loan instead of an ARM. Mostly because I expect rates to increase so when an ARM expires the note holder will probably have a higher rate.
Ki is a realtor in Austin. He runs a site about Austin real estate which has a search of the Austin MLS along with market analysis on his Austin real estate blog
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Apr. 24, 2008 - The Live Music Scene in Austin Texas
There is more live music going on in Austin, Texas on any given night than there is in any other city in the world. That’s why the city has put a trademark on it’s slogan “Live Music Capital of the World.”
There are hundreds of live music venues in the city and its immediate environs. Many are situated in three main entertainment districts: Sixth Street/Red River, the Warehouse district and South Austin. Sixth Street/Red River is the famous sector in downtown Austin that is known around the world for it’s live music scene and often boisterous crowds that fill Sixth Street on the weekends when it is closed to traffic. The Warehouse district runs west from Congress Ave. along Fourth and Fifth Streets. That’s where Antone’s is located, the venue that USA Today has named the best blues club in the country. In South Austin, there are a number of clubs on South Congress, South First St. and South Lamar that offer up some of the best new and original music in town.
The road to its live music capital status began way back in the 1960’s when a spirit of eclecticism appeared with the hippies and anti-war protesters of that era. Inclusion was in and exclusion was out, no pun intended. With the 70’s, this eclectic spirit gave birth to a form of music that was often called progressive country. Joe Ely, along with co-Lubbockites Jimmy Dale Gilmore and Butch Hancock, brought this music down to Austin and hooked up with Marcia Ball and Delbert McClinton and cosmic cowboys like Jerry Jeff Walker, Michael Martin Murphy, Rusty Weir and Ray Wiley Hubbard. Willie Nelson and Waylon Jennings came back from Nashville during that time to settle in Austin where they could take control of the production of their songs. A wild and powerful musical vortex formed that saw psychedelic rock and roll mix with straight out country and blues at venues such as the Armadillo World Headquarters, Threadgill’s, the Soap Creek Saloon and the Broken Spoke. It was cool to dig the psychedelic sound of the 13th Floor Elevators and the uncompromising country licks of Alvin Crow at the same time.
Then, in 1975, a 30-minute University of Texas music program was accepted by a number of PBS affiliate stations and Austin City Limits was launched and has become the longest running program in the history of PBS. It has propelled Austin to the forefront of the music industry’s consciousness in the US and around the world. That first program featured Willie Nelson, but has since put Texas music notables such as Marcia Ball, Lyle Lovett, Robert Earl Keen, Asleep at the Wheel and many, many others in the national and world spotlight.
In more recent years, the South by Southwest showcase every Spring that brings nearly 1500 musicians and musical acts to town to be seen and heard by industry executives and AR types, along with the Austin City Limits Festival in September, have kept the city on the national music map. In addition, dozens of other smaller festivals are held each year, as well as a number of nationally significant ones in the surrounding Hill Country such as the Kerrville Folk Festival and the Old Settlers Reunion in Buda, just south of town.
The Austin music scene has always been a free-wheeling, break-the-mold, think-out-of-the-box kind of affair. That early eclecticism lives on in the current scene, although some characteristics of the town’s soundscape seem to have become entrenched. Sixth Street/Red River attracts a younger, party animal type of crowd with it’s rock and roll, blues and punk scene. The Warehouse district caters to a bit older and more professional crowd in general. And South Austin retains the feel of Austin in the 70’s with its nouveau hippie coffeehouses and crowds and its preference for good singer/songwriters. Still, there are always exceptions to those general tendencies just about anywhere you go.
Austin remains a city where musical creativity and talent thrive and defy expectations. That can be experienced close up and personal in any number of live music venues on any given night.
Escapeso Austin Real Estate is a small company working in the Austin Texas real estate market. They provide a graphical search of the Austin MLS along with commentary on their blog about changes in the Austin real estate market.
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Apr. 23, 2008 - Health Insurance for Musicians? - An Innovative Austin Program
Austin enjoys the self-promoted but well-deserved reputation as live music capital of the world. In recent years, the city has decided to put its money where its mouth is to ensure that it stays that way. One of the most innovative and socially progressive ways it is doing that is by providing an insurance program for working musicians through HAAM, or Health Alliance for Austin Musicians.
It’s a unique concept. Besides New Orleans, Austin is the only city in the US to provide such comprehensive health care to its local musicians.
"This city loves those who make music for us all," according to Betty Dunkerley, Austin Mayor Pro Tem and HAAM board member. "What better way than Health Alliance for Austin Musicians is there to show our appreciation? HAAM makes members' lives better."
HAAM was created in 2005 as a result of a partnership between local hospitals and the SIMS foundation with support from the city and various Austin businesses. They recognized the tremendous need that existed in the community of musicians in the city for affordable health care. More than 8,000 working musicians live in Austin and most of them are uninsured. Rather than wait for the federal or state government to come up with a plan to help the millions of Americans who do not have health insurance, this community of musicians and their supporters decided to provide that help themselves.
Funding for the organization is provided by business and private donations and various grants. The HAAM benefit day every October mobilizes musicians, local businesses and city officials to raise money for the organization. In 2006 they raised more than $107,000, and more than $180,000 in 2007. Other events throughout the year, such as Austin music backer Nancy Coplin’s BIG SIX-O birthday party recently, donate their proceeds to HAAM as well. Of course, interested supporters may also donate money at any time through the HAAM.
HAAM’s 2007 annual report reveals nearly 4,900 medical, dental and mental health visits which earned a 94 percent approval rating from member-musicians. This success results from a one-of-a-kind collaboration among the Seton Family of Hospitals (clinic visits, prescriptions, hospital services and specialist referrals), St. David's Community Health Foundation Leadership (dental visits) and The SIMS Foundation (counseling, psychiatric and addiction-recovery sessions).
Membership in 2007 grew to 929 of which 65 percent were age 40 and younger, with 67 percent earning less than $15,000 a year. To receive the benefits from the program, members must live in Travis County and be able to prove that they earn money playing music. For many services, members must pay a small co-pay; some other services are provided for free.
The SIMS foundation was named after Austin musician Sims Ellison who lost a long battle with depression and committed suicide in 1995. His death shocked the Austin community and a group of family and friends decided to create the SIMS foundation to provide low-cost counseling, psychiatric and addiction recovery service to musicians who needed it. The foundation provided more than 2,300 such sessions in 2007.
In addition, through HAAM, more than 573 members made more than 1,300 clinic visits that same year and benefitted from more than 500 hospital services of various kinds as well. Many members also took advantage of the free dental services provided by the organization.
Almost all members are very positive about the work HAAM is doing and the services it provides. Guy Forsyth is an Austin musician who has built up quite a reputation throughout Texas.
"It makes me really happy for younger musicians who are coming up and for parents who may have a child who’s very talented and it's scary to think of them becoming an artist. Because we see all these examples around us of people, who aren't part of a corporate structure are left behind in terms of health care and public support," Forsyth said.
If you are looking to invest in the Austin real estate market Ki can help. His website provides a Austin MLS search along with a free mortgage calculator
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Apr. 21, 2008 - The Culture of South Austin
Austin has many colorful neighborhoods and shopping venues, but most inhabitants of the city will tell you that Austin is divided into two distinct areas: South Austin, and North Austin. The Colorado River runs directly through the central part of the city, encircling the downtown business district on its southern perimeter, and as is flows west, the river skirts the northern edge if Zilker Park and the Barton Springs area. The part of the river which flows through the metro area was recently named Lady Bird Lake, and was previously called Town Lake.
South Austin is thought of among Austinites as the laid back area of town; it is a very eclectic area, and most of the residents are thought of as informal, casual and very individualistic. South Austin has two main thoroughfares which attract restaurants, clubs and shopping areas. South Congress Avenue is one of these streets, which begins at the State Capitol Building a few miles north of the river, and ends a few miles south of downtown and eventually merges with Interstate 35, which is the primary north-south freeway in the Austin area. South Lamar is the other main thoroughfare, which runs the length of Austin, from its northern starting point where it begins, a few miles north of Austin at Interstate 35, to its furthest southernmost point, a few miles south of Austin, where it eventually flows into the freeway interchange at Highway 290 West and Loop 360.
Austinites refer to the shopping and entertainment area of South Congress Avenue as the SOCO area, and many world class restaurants can be found in SOCO, as well as numerous clothing stores, antique and retro shops, and also street vendors, selling a variety of reasonably inexpensive goods to pedestrians and other passersby. Once a month, the merchants of the SOCO district hold a street fair of sorts along the sidewalks outside the restaurants and shops called First Thursday, on the first Thursday of the month. Frequently there is live music and most of the stores display their wares on the sidewalk, along with the street vendors, who show up in full force. Many reasonably inexpensive new housing developments are being built in this area as well, mostly condos which have a great view of the lake and the SOCO district. Many famous landmarks are in the SOCO area, including the Hotel San José, with adjacent Jo’s coffee shop, both favorites among locals and tourists. Across the street from the San José, in the heart of SOCO, is one of the most well-known blues and rock-oriented nightclubs in the Austin area, called the Continental Club. The city’s daily newspaper, the Austin American Statesman, also calls northern SOCO its home, and is just south of the Congress Avenue Bridge. The bridge itself has a pedestrian walkway on each side, both of which give pedestrians a beautiful view of Lady Bird Lake. The neighborhood of Travis Heights surrounds SoCo an is a collection of ecletic 1940's and 1950's homes.
One of the most unusual events in Austin is the nightly flight of the bats from under the bridge, where they nest, to the Austin skies right after sunset, a beautiful and very dramatic sight. The bats are the most numerous in March and April, and are actually Mexican free tailed bats on their yearly journey to and from Mexico. Tourists and many others flock to the area to watch the bats make their nightly pilgrimage to the stars and clouds above Lady Bird Lake. The bat colony is the largest urban bat colony in North America, and during their peak season they number over a million bats. The free Austin Orange Dillo bus runs every ten minutes on First Thursday from convenient free parking at One Texas Center on Barton Springs, so visitors don’t have to worry about parking on Congress itself.
South Lamar, which is occasionally referred to as the SOLA district, is an up and coming area for well known eateries and shops as well. South Lamar is more residentially oriented than the SOCO area and has cute older homes in neighborhood of Barton Hills, with nearly every cross street having homes, apartments, duplexes and various other dwellings, as well as schools and churches, which can also be found in the SOCO area. The western edge of the South Lamar neighborhood run alongside the eastern perimeter of Zilker Park and Barton Springs, home to Barton Springs Pool, which is the fourth largest underground spring-fed pool in Texas. The pool encompasses three acres and has a year round temperature of 68 degrees. Starting at the pool area, the Barton Springs greenbelt offers hiking, bicycling and walking for many miles, adjacent to well-known Barton Creek, which feeds the pool. There are many well developed hiking trails with informative kiosks describing the area and the attractions in each location, such as the location of local swimming holes such as Campbell’s Hole, a very old and well-known swimming hole which is fed by the waters of Barton Creek as well.
The South Lamar area is close enough to the SOCO area for pedestrians to walk the short distance, or hop on the city bus, and between the two long streets is another slightly less developed area adjacent to South First Street, which runs parallel to Congress and Lamar, between the two. South First is also home to many restaurants and shops, and is a pleasant place to stop while traversing between South Congress and South Lamar. Things just don’t get much better in Austin than living or visiting the South Austin area!
Ki works as a realtor in central Austin. His website features information on Austin real estate along with a free mortgage calculator and map based search of the Austin MLS.
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Apr. 19, 2008 - Interest Rates and the Credit Crunch
In Greek mythology, the hydra was a beast that, when one of its many heads were severed, would grow new heads in their place. The sub-prime mortgage crisis has developed in a similar fashion, initially appearing to be constrained to a sector of unworthy credit borrowers who likely didn't have the financial ability to own a home normally. However, this expected loss translated into falls in construction, consumer spending, and widespread mortgage defaults in prime markets. This hydra doesn't respond well to lip service, such as the interest rate freezing plan ushered in by the US Treasury which is constrained to a statistically small minority of distressed homeowners.
Yet the knock-on effect of the sub-prime crisis that has gotten the most attention is relatively removed from those experiencing foreclosure: the financial sector, overexposed and reeling from massive writedowns due to investment in securities backed by these same sub-prime mortgages. However, both sides of this crisis can be traced to the changing relationship between monetary policy and reality. Real interest rates, those which banks charge each other for overnight lending, have remained stubbornly above their historical highs, reflecting the reluctance of banks to let go of needed capital. Consumer confidence is at its lowest level since the statistics were taken, asserting the credit crunch's diffusion into the larger economy. With such widespread signals of an economic downturn, the Federal Reserve has been the focus of many investors, especially after the unprecedented bailout of troubled investment bank Bear Stearns.
When the Fed lowers their discount rate, the cut is generally assumed to filter throughout the financial system, making loans cheaper for everyone and stimulating the economy. The US central bank has also not shied away from its ability to auction funds, which it has done liberally in order to stem further liquidity issues. While banks have taken advantage of more cheaper money, they have not passed all those savings on to others, and mortgage interest rates while low remain higher than would be expected. These rates affect both the returns on stocks for investors all over the world, but also rates for other loans from mortgage payments to fundraising efforts to buy up the troubled derivatives that began wreaking havoc on balance sheets a year ago. If the Fed is to maintain its credibility as a viable beacon of stability, then they will need to rein in with regulation further in the future or risk losing their legitimacy: that inflation remains within target levels, if on the high end of the spectrum. Until banks are completely through writing down losses, lending is not likely to get much cheaper. In fact, with plenty of investors jumping ship to profitable commodities, raising capital for necessities like student loans are going to be harder to come by. Analysts have projected that 10% of the lowest bracket of previous year's accepted borrowers expected not to qualify under recently tightened standards. Interest rates will reap an unprecedented level of control over the livelihoods of millions of Americans to an extent seldom seen.
Ki is a realtor/broker in Austin Texas working with homebuyers in the Austin real estate market. His site provides users a free graphical search of the Austin MLS along with a free mortgage calculator.
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Apr. 19, 2008 - What are Mortgage Rates Doing This Week
April 17th, 2008
30-yr 5.88 15-yr 5.40% 5-yr ARM 5.48 1-yr ARM 5.10
April 10th, 2008
30-yr 5.88 15-yr 5.42% 5-yr ARM 5.56 1-yr ARM 5.19
April 3rd, 2008
30-yr 5.88 15-yr 5.42% 5-yr ARM 5.59 1-yr ARM 5.18
March 27th, 2008
30-yr 5.85 15-yr 5.34% 5-yr ARM 5.67 1-yr ARM 5.24
For the 4th week in a row 30 YR Rates have remained relatively unchanged. Rates fell in the middle of March after the FED cut interest rates. At that point mortgage interest rates fell from 6.13 to 5.87. Since then banks have kept 30 Yr mortgage interest rates roughly the same. This can be as a sign banks are happy with the current difference between mortgage rates and the FED rates.
After the FED cut interest rates in mid March instead of rates on 5 and 1 year arms increased. But over the last 2 weeks rates on ARMs have decreased as well.
Another interest factor is what these rates translate to for a loan of 200k. Using our free mortgage calculator lets take a quick look.
April 17th, 2008
30-yr $1183.71
15-yr $1623.57
5-yr ARM $1133.06
1-yr ARM $1085.89
If we consider the fact that currently rates are relatively still low and when ARMs expire they could be higher I would still recommend getting a 30 Year Loan instead of an ARM.
Ki is a realtor in Austin. He runs a site about Austin TX real estate which has a search of the Austin MLS along with market analysis on his Austin real estate blog
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Apr. 17, 2008 - How to Refinish Hardwood Floors
Several homes, especially centrally located homes, have hardwood flooring. A pristine hardwood floor is beautiful, but to restore one back to its original 60 year old elegance, the floor will need to be refinished.
Refinishing hardwood floors can be a challenging job for the do-it-yourselfer, but with some preparation and research, it can be done without the help of a professional.
Many older homes have gone through fads, and one that became a norm was wall to wall carpeting. If wood floors hide under a carpet, it will have to be removed. After all furniture has been removed, pull up carpeting and its tack strip, making sure to remove nails and staples that will hinder sanding performance later.
Sanding floors during the refinishing process creates a lot of sawdust. Prep the area by taping off doors and cabinets, and opening windows. Covering areas with damp sheets helps trap the sawdust.
After the area around the floor is completely prepped, use a drum sander to sand the floor. They can be rented at most home improvement stores. The purpose of the sanding is to cut the floor and remove the old finish. Start with a coarse grit sandpaper, such as a 20 or 36 grit paper, and move up to 60 and 100 grit. The lighter grit sandpaper is used to remove the scratch marks made by the heavier grit paper.
A drum sander can be daunting on its first use. They are loud and powerful, so wear ear plugs, eye protection, and a dust mask. A common first-timers mistake is gouging the floor, which is a hard problem to fix, and easier to prevent. Start by tilting the sander back before turning it on, and slowly lowering it to the floor. Find a good test area that may be covered by a rug or furniture, and move the machine back and forth, without keeping it in one spot, as doing so can damage the floor in a few seconds. Move the sander in the same direction as the grain of the wood floor. When the machine becomes difficult to maneuver, it’s time to move to a lighter grit paper. Edges of the floor can be hard to sand with the large drum sander, so either renting an edge sander, or doing these areas by hand, is recommended.
After the old finish has been removed, and the floors smoothed with the sander, the room must be vacuumed. It's advisable to vacuum and dust the floors, walls, light switches, and every area that can be reached. Let the dust settle, and vacuum again to insure no dust will end up in the new finish. Running a tack cloth (also available at home improvement stores) along the floor after it’s been vacuumed is also advisable.
It's now time to apply a stain to the wood, unless the natural color of the wood is preferred. If possible, test the stain on your floor, as color charts may be helpful, but not always accurate depending on the wood of your floor, and how it takes the stain. Apply the stain in a circular motion with cloth rags. Spread the stain as evenly as possible to keep the color consistent.
The final step to refinishing a floor is applying the finish. There are oil and water based finishes. Though oil finishes are less expensive, the water based dry quicker, finish clear, and do not have the solvent odor that oil based finishes contain. Make sure to not shake the finish, as it will create bubbles that will end up on the floor. Slowly stir it, and follow the manufacturer’s instructions. Make sure to plan the final application finishing in a doorway, and after a few coats, the floor refinishing is complete.
Escapeso Austin Texas Real Estate is a small realty company in Austin. Their website has a search of the Austin MLS along with up to date commentary on their blog about Austin real estate.
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Apr. 15, 2008 - The Twin Menaces of Inflation
This week, a storm of bad news gave markets cold feet, resulting in Friday's 250-point loss. While this pattern of volatility has been the status quo for stock exchanges worldwide for the better part of the year-to-date, another factor has caused at least as many difficulties for a much larger percentage of the global population: the recent skyrocketing prices in energy and food. Wheat and other cereal prices have more than doubled this year, causing widespread effects ranging from speculative overbuying, which exacerbates the problem, to food riots in many poor countries. Millions of children around the world are likely to suffer from malnutrition in coming years if prices stay at or near current levels, according to International Monetary Fund (IMF) estimates.
Part of this unfavorable price increase has been due to shifting ideas about energy consumption and the press towards the use of alternative sources of fuel other than gasoline: namely, the subsidies issued by many governments of developed countries to change over to ethanol and other plant-based hydrocarbons, such as that made from palm oil (a particularly environmentally destructive process for ecosystems). Since these subsidies and programs have been introduced, farmers are often able to make better returns by selling their crops to biodiesel companies than to food companies. Until economic incentives change, the supply end is unlikely to provide solutions. For many of these farmers, these developments mean they are able to make a decent living for the first time in years, and they desperately want to (even if it results in local food shortages sometimes).
While this widespread problem affects consumers all over the world, these micro effects are only half of the story for gas-sensitive American consumers. Energy prices have taken headlines this year due to speculation and supply concerns from OPEC and South American countries after hitting the psychologically important $100 a barrel mark for the first time in the third quarter of 2007. Crude prices remain stubbornly above historical trends, even as suppliers contend that output need not increase. Analysts have also projected US gasoline prices to climb above $4 a gallon during the summer, another equally unprecedented number that may be tough pill for consumers to swallow, after the one-two punch of a national housing slump and the global credit crunch.
Should oil suppliers continue to maintain current output levels, demand is eventually likely to contract. But they aren't the only links in this chain. If oil becomes a less attractive option to Americans, oil companies may eventually be priced out of the market. Many have been keeping an exceptionally low profile in recent months. Auto companies play a huge part in the process, but shrinking sales and looming layoffs will likely increase the pressure towards manufacturing lower-emission vehicles. But the single biggest mover and shaker will be the government, which has the ability to regulate both inflation (through the FEDs influence on mortgage interest rates) and the move towards more sustainable technologies. The next US president will have the ability to help determine how long the lone superpower continues to expose its Achilles heel, but at some point all eyes will be on the Federal Reserve if inflation once again rears its ugly head.
Ki works as a real estate agent in the Austin real estate market. His site provides a free Austin MLS search along with updates on the Austin market on his Austin real estate blog
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Apr. 15, 2008 - Austin Neighborhood Profile : Clarksville
The West Austin area of Clarksville was originally a freedman’s colony for slaves freed after the Civil War. Clarksville now has a very diverse population, and this diversity is reflected in the various nationalities of the residents. There is an excellent public grade school in Clarksville, named Mathews Elementary. Every fall, Mathews holds a carnival on the grounds, which includes the Clarksville Annual International Dinner and the Octoborama Festival, which is held at the end of October. During Octoberama, local musicians, many of whom are the parents or relatives of Mathews School students, perform at the carnival. Also, most of the kids bring large quantities of food to be sold at the International Dinner, to reflect the cuisine of the countries of their origin. Since most of the University of Texas Division of Housing apartment complexes are located in the West Austin area, and the grade school children residing there with their parents attend Mathews, many ethnicities and heritages are represented at the dinner, including Chinese, Korean, Japanese, Mexican, and various African and other nationalities. While at the Octoberama Festival, you can hear local musicians, sample all kinds of homemade food, watch contests such as two-legged races and relay races, and enjoy juggling and face-painting, which all of the kids love. Right down the street from the school is another Austin legend, Nau’s pharmacy, which has one of the oldest soda fountains in Austin. You can have eggs for breakfast or a shake after school at Nau’s, and then head down to the 9th Street dog park.
There are many good restaurants in the Clarksville area, and this area is a short bus ride or long walk to Lady Bird Lake, and the jogging trails, or you can go downtown by bus or on the sidewalk, just a mile or so in the other direction. There are also a number of historic homes in the Clarksville area, including a home referred to by the children as "the Castle", since it looks just like a medieval castle, but which was originally a military college building. There is also a "Moonlight Tower", another local landmark, in the area of the Castle. Austin and Clarksville are home to many local politicians and well-known Austinites. Ann Richards was a regular at the drug store soda fountain, and most Hollywood celebrities visit the restaurants when in Austin.
The Johnson Creek Hike and Bike Trail skirts the western edge of Clarksville, and winds along under the Loop One freeway, also called the MoPac for the Missouri Pacific rail line which runs directly alongside the freeway. You can walk, ride a bike, or jog up and down the hike and bike trail, which crosses Johnson Creek in one place and begins at Austin High School, on the northern shore of Lady Bird Lake.
From the Austin High School access point to the trails, You can cross the lake, which is actually the Colorado River, and hike through Zilker Park or swim in Barton Springs, or go north, and once past Clarksville, you eventually wind up in the Brykerwoods area, if you go south you can head down to the Barton Hills and Travis Heights.
Clarksville is also home to various arts and crafts establishments, and the yearly Eeyore’s Birthday Party Celebration, another fun local event, which is held in Pease Park, on the north-eastern perimeter of the Clarksville area. All in all, The Clarksviile area of Austin is truly a great place to live, whether you’re raising a family, a student, retired, or any one of the varied lifestyles which flourish in Austin. You will always feel at home in Clarksville.
Ki lives in Austin and spends way too much time blogging. He also runs a site about Austin real estate which has a search of the Austin MLS and information on mortgage interest rates.
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Apr. 14, 2008 - What Is Going On With Mortgage Rates This Month
Mortgage interest rates remained relatively unchanged for the second week in a row.
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April 10th, 2008
30-yr 5.88 15-yr 5.42% 5-yr ARM 5.56 1-yr ARM 5.19
April 3rd, 2008
30-yr 5.88 15-yr 5.42% 5-yr ARM 5.59 1-yr ARM 5.18
March 27th, 2008
30-yr 5.85 15-yr 5.34% 5-yr ARM 5.67 1-yr ARM 5.24
So what is going on? The FED has been attempting to stimulate the economy by cutting the FED Funds rate. But the first few times the fed cut rates in 2008 banks did not respond by lowering mortgage interest rates. Since this is one of the main tools the FED uses to influence the economy and mortgage rates this was a cause for concern. If the FED losing its influence over mortgage rates would be another negative factor weighing on an already weakened economy. In the beginning of March their were some pronouncements from analysts that we should expect more FED rate cuts but we should not expect to see lower mortgage rates.
But then after the latest fed cut on March 18th mortgage rates fell from 6.13 to 5.87. So what has happened since then? Basically, in the absence of further rate cuts by the FED, mortgage rates have remained relatively constant.
In the midst of lots of bad news for the national real estate market this is actually a good sign that banks are apparently happy with the spread between the fed rate and mortgage rates. Hopefully future fed cuts (and it seems apparent at this point the fed will continue to cut rates) will result in lower mortgage rates.
Ki works as a realtor in Austin. He runs a site about Austin real estate which provides a free search of the Austin MLS and a free mortgage calculator.
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Apr. 11, 2008 - Current Issues with the Global Economy
Though the housing bubble deflated about two years ago, its true effects are only now beginning to emerge. In late 2006, when the economy first began to show signs of weakness in the housing market, most economists predicted that a recession was very unlikely, and that any downturn in real estate prices would be localized and mild. In reality, a global downturn is now a real threat, with the final price of the credit crunch projected to exceed $1 trillion dollars.
Not only have falling house prices in the US spread to other markets abroad, they have contributed to massive losses in other areas of lending such as credit cards, and the financial industry, which is now reeling from the US government bailout of Bear Stearns. What does this mean for emerging economies like China and India? In the short term, volatility seems to be the order of the day, with India's fledgling exchanges rocked by jittery investors. Until financial centers and investors can regain confidence, market conditions will be exaggerated. Early trading also plays a psychological role for investors, as news developments impact Asia before Wall Street opens.
The US and the UK both face difficult home pricing corrections which will continue to hamper growth. Most homeowners expect, if not to make a profit, not to sell their houses at a loss, which is a difficult pill to swallow. And if they can't sell their homes for what they think they're worth, then waiting it out contributes to prices falling, thus exacerbating the problem.
While government intervention has been exceptionally forthcoming in efforts to preserve confidence in financial markets, less attention has been given to homeowners who are being foreclosed on %72 more than last year. Hedge funds which invested in these home loans and were mostly falling into the sub-prime category, collapsed as borrowers were increasingly unable to make payments, leading to unprecedented defaults. Many of these sub-prime loans were predatorily given to borrowers with low or little credit history, often without explaining the terms.
This crisis was instigated by a combination of lax internal regulation of the real estate industry and easy credit based on speculation, a potent combination that the global marketplace will do well to remember. In the meantime, global growth will probably slow at least .5% over the next year, which is only so low because of robust growth in Asia.
Another prospect which looms over every government is the specter of inflation, which threatens to overtake the slumping economy as the number one priority for the Federal Reserve and other central banks, who have had to take extreme action to prevent further liquidity losses. The Fed has sold off over $100 billion in auctions and lowered interest rates five times in an attempt to lower mortgage interest rates, but confidence will remain shaky until the full extent of investment bank's sub-prime exposure is realized. Stuck between a rock and a hard place, central banks are taking decisive action in hopes that the economy will level out without pushing inflation to dangerous levels.
Ki operates in Austin Texas as a realtor helping clients looking for Austin real estate. His site provides a search of the Austin MLS along with a free mortgage calculator.
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Apr. 10, 2008 - The Drag in Austin Texas
Austin, Texas is home to many different attractions with great food, shopping, and entertainment venues. Many think of Sixth Street as Austin's premiere hotspot, but there are several other interesting yet relatively overlooked areas in town. One of the most popular and diverse places in Austin for great food and entertainment is a strip along Guadalupe Street affectionately referred to as the Drag. From around 34th Street at the northern edge to Martin Luther King Jr. Blvd, great food and shopping abound, along with a few curiosities.
Austin is renowned for its live music scene, but the clubs aren't all downtown. The Hole in the Wall is one of the most renowned and stored venues in the history of Austin, with 25 years of experience bringing in both great local talent and road shows in many styles ranging from old-school country to rock and pop. With its dim lighting and homey atmosphere, the Showdown is a great bar in which you can kick back and observe the tides of burnt orange flocking to and from class. Spider House is one of Austin's most eclectic places to share a pitcher of Lone Star, the National Beer of Texas with friends, with regular influxes of live music and DJs. The decor is based most obviously from vintage gliders, chairs and tables with dozens of Christmas lights to provide illumination and the odd sculpture of a naked child urinating in a bathtub. Such expression is much more commonplace in Austin in part because of its long connection with the University of Texas.
Since the University of Texas at Austin is located directly off Guadalupe, many businesses have taken advantage of the huge influx of students. As a result, there are many great stores to check out. As far as apparel, American Apparel has recently opened a store directly across from the West Mall of the University. Other stores include Whole Earth Provision Company and Tyler's, the source for "Keep Austin Weird" shirts and assorted UT-related garb. Toy Joy on 29th and Guadalupe offers a plethora of creative gifts and eccentric toys for all types.
As far as food goes, the Drag offers more choices than many other areas in town, partially because of the diverse student body that frequents the area. Madam Mam's makes great Thai and Chinese food, while just down the road lie several venerable Austin establishments such as Burger Tex, Dirty Martin's (Home of the Kum-Bak Burger), and Veggie Heaven, a favorite for vegans and health-conscious people. Kerbey Lane Cafe is the place to go if you're looking for late-night food ranging from enchiladas to classic American fare. Don't forget to try the famous pancakes, which come is several delicious and fruity flavors. Tom's Tabooleh offers great falafel and other various Middle Eastern fare, using locally grown and organic ingredients. They also have a wide selection of fresh hummus and Greek dolmas available every day. Wheatsville Co-op is a local grocery which sells local and organic produce as well as a variety of health foods and a great deli to boot. For those in search of a tasty ice cream treat, options abound: The famous Amy's Ice Cream has many different and unusual types of creamy delights, including Guinness or Shiner Bock ice cream. So if Austin's where you want to be, don't forget to check out the Drag (it's kind of hard to miss).
Ki is a realtor working in the Austin Texas real estate market. On his site he runs a blog about Austin real estate and provides visitors a free search for Austin Homes.
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Apr. 9, 2008 - why Modern Housing is on the Rise in Austin
Many modern homes and condos are going up left and right in Austin, with local design and build companies behind the new residences. It is hard to pinpoint exactly why modern design is becoming so popular, but several factors possibly play a role.
One of the reasons Austin draws so many people to town is because at its heart, it is “different”. It is very different from big cities like Dallas or Houston, and also different from a standard cookie cutter town found all over the state. New modern homes are also different from traditional homes in both their exterior curb appeal, with large walls of glass, concrete and wood, as well as their modern and minimalist interiors. Those moving to Austin looking for a change could find themselves hunting for a home that reflects their personality. It’s also the same reason that most of the new modern housing is located in and around central Austin, where the vibe of the city is felt the most.
Though many builders are currently trying to take on green standards in their building practices, the local companies building these modern homes thrive on doing so, which appeases the home buyer who is also environmentally conscious. Modern homes often use renewable resources such as bamboo or cork flooring, and double paned windows, rain cisterns and tankless water heaters to conserve resources, and low VOC paint, which is less toxic than traditional oil and latex based paints. Even the majority of modern homes are xeriscaped, using landscaping plants that are friendly to the often harsh Texas environment, and cutting down on excessive watering.
Many new Austin transplants have come from large cities on the east or west coast, or possibly artsy cities like Portland or Seattle, and have a wide and eclectic taste. Others went to the university, and moved away, but are coming back to settle in central Austin. Those looking for a modern home are more into architecture and would prefer a home that makes more of an artistic statement than a traditional home. Also the growing popularity of magazines like Dwell, and house and home decor websites and blogs like Apartment Therapy, cultivate interest in unique modern homes and modern Austin condos.
In general, large home builders are sticking to traditional housing, since the demand for such homes hasn’t gone away, and much of the population would consider modern homes ugly, uninviting, or resembling a dentist’s office. Also building tract homes is easy and fast, since there are limited floor plans, and building sites are already plotted out.
Luckily, Austin has several small and medium sized firms who are willing to create more unique homes, and is another possible reason many modern dwellings are on the rise. Also, since many of the firms design and build their houses, the home buyer can have input on its design from the beginning, and feel assured that there won’t be anything lost in translation when their house is under construction. These firms also take the land and the surroundings into account, and “bring the outside in” with touches such as exterior brick walls forming interior walls, and well placed windows to capture site specific views. For those Austinites that can’t seem to find that perfect modern dwelling, a word into a local design/build firm can get the ball rolling.
Ki works in Austin. He has a site about Austin real estate where he provides a free mortgage calculator and a Austin MLS search.
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Apr. 8, 2008 - The Culture of South 1st Street in Austin
Some streets lead to wherever it is you want to go. Some lead to surprises both bad and good. Some streets are destinations in themselves, stretches of thoroughfare where the journey itself is all that matters.
South First Street between Riverside and St. Elmo’s is one of those streets, one of the last in Austin where , block after block, the old magic of the city that once attracted musicians, artists and other creative minds to move and settle down here, is still palpable, still crackling in the air.
Going south from Riverside, you pass shops and boutiques on the right, converted from 1930’s private homes, turned into artsy clothing and import stores. They sit across the street from the broad, green campus of the Texas State School for the Deaf. Further south, the Bouldin Creek Coffee house serves up its eclectic, health-hip food and drink to its neo-Bohemian clientele. Beyond that, Jovita’s, one of the city’s more venerable but less well-known music venues, beckons the eye with Joyce Dibona’s colorful, Aztec-theme artwork adorning the outside walls.
As you drive still further south, you pass more colorful buildings and businesses that crowd the four-lane street. Some are well-established and thriving, some look almost abandoned, decrepit even. All are obviously small operations, like the Resistencia Bookstore. At the corner of Oltorf and South First, one of the more eye-catching businesses houses what may be the perfect Austin enterprise for the times, Baby Green’s, a fast health food joint.
Continuing on, you pass one of the less visually appealing buildings, which however happens to be the home of the GHS Lounge, an old neighborhood drinking establishment with street cred to burn. Boot repair shops, used book stores, bicycle shops, art galleries and a nursery in a converted private home line the street as you head towards the intersection with Ben White. Before arriving there, you may notice the Summermoon Coffee house on the east side of the street, one of the coziest and most intimate of neighborhood coffee shops in the city. The surrounding neighborhoods of Barton Hills and Travis Heights are populated by people that have a steadfast devotion to their local businesses neighborhood businesses.
Next door is the SHAC, the Self Help and Advocacy Center which is run by the Austin Area Mental Health Consumers, an organization of people with a mental illness. This community center provides services and information to people suffering from mental illness and to the community at large. The mostly volunteer staff here has helped many people to find housing, jobs and renewed hope to re-integrate them selves into society.
Of course, along the way there has been a colorful liturgy of Mexican food restaurants: Aranda’s, Polvo’s, Little Mexico, Mexicana Panderia, Evita’s Botanitas. Even San Antonio would be hard pressed to present a street with so many colorful and deliciously promising establishments in a stretch of so few miles.
And all up and down this road which has somehow escaped the clear-cut style of development that brings condos and super-centers and grid-locked traffic, there is still the green of the Austin hills. From a long stretch of the street, if you’re heading north, you can see the towers downtown floating in the hazy distance. This is indeed Austin without the cookie-cutter architecture of anywhere USA. It’s local in character, content and color, a true reflection of the creativity and productivity of the people who live here.
It may only be a matter of time before this fine old street cedes to the pressure of development and big money, like so much of the rest of the town has. But for now, it’s still Austin the way it used to be, or nearly, ready for a road trip with no clear destination when the trip itself was all that mattered.
Ki lives in Austin as a realtor in the Austin real estate market. His site provides a free mortgage calculator along with a search of the Austin MLS
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Apr. 5, 2008 - Remodeling A Kitchen : A How To Guide
One of the most timely and costly home improvement projects any homeowner can take on is a kitchen makeover. Whether a homeowner desperately needs a kitchen revamp, or is tired of the dated look of the kitchen, there are several options to freshen up the area.
The easiest fix for a sparkling new(ish) kitchen is a good thorough cleaning. Over years of use, kitchen cabinets take on food, heat, and grease that tends to build up. Though it might seem simpler to leave cabinet doors attached to clean them, taking time to remove the doors allows for easier access in the long run, though it’s advisable to number the doors to keep track of which goes where. There are many cleaners on the market, but trisodium phosphate, known as TSP, has a great track record as a heavy duty degreaser and cleaner.
After cleaning doors and cabinet sides, the hardware will also need a good soak. Remove the hinges and drawer pulls, and let them sit in a good soapy water mix for 30 minutes. Giving them a light scrub and polish can make them look brand new. If the kitchen needs some updating, changing the hinges and handles or pulls on cabinets is inexpensive, and can dramatically change the look of a kitchen.
For those looking to make a bigger change, and spend a greater amount of time on their cabinets, they can also be refinished. Before refinishing, it’s still advisable to clean the wood thoroughly, as sanding them down could embed dirt and grime even further without a proper cleaning first.
To remove old stain or paint, the easiest way is with a chemical, or paint, stripper. By following the directions of the stripper, the chemicals end up doing most of the work, and the old stain should easily peel away. After the stripping is done, it’s time to sand.
Starting with 120 grit sandpaper should help remove any of the old paint or stain left behind by the stripper. Afterwards, smooth out the wood with 220 grit sandpaper. After the cabinet is properly sanded, apply a primer if painting, or a sanding sealer if staining (which works much like primer, allowing stain to absorb evenly). Once the paint or stain is applied to the cabinets, add a final finish, such as varnish or lacquer to protect the wood. Water-based polyurethanes also do a great job, and are environmentally friendly.
If refinishing cabinets won’t help the kitchen’s appearance, and an entire renovation is out of the question, there are companies that specialize in refacing. After measuring the sizes of the current cabinet doors, a refacing company will custom build new cabinet doors, with a wide choice of stains, finishes and hardware to choose from. This is a good option for those living in older homes whose kitchen cabinets are sturdier and well crafted compared to today’s modular cabinet options.
Lastly, if a brand new kitchen is needed, IKEA has become a popular source. At a much greater discount to other big box stores, IKEA also has user-friendly software to create unlimited kitchen combinations that fit a home’s current dimensions. Also, with kitchens starting at around $2,000, the prices are hard to beat, and may have some savings leftover to contract out the installation.
Ki is a realtor in Austin. He helps people in the market for Austin real estate. He also provides a free mortgage calculator and a free search of the Austin MLS.
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