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August 2008

Aug. 29, 2008 - Mortgage Interest Rates Move Down Slightly And The Impending Takeover of Freddie Mac and Fannie Mae

Mortgage Interest Rates

Current Mortgage Rates
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Mortgage interest rates moved down slightly this week. This was a good sign since it was not preceded by any rate cuts from the FED. The 30 year mortgage rate fell from 6.52 to 6.47 and the 15 year mortgage rate fell from 6.07 to 6.00. For arms the 5 year rate fell from 6.02 to 5.99. The 1 year arm was the only one of the 4 rates to increase going from 5.18 to 5.29. If anything the mortgage rates are not more in align with each other. Over the past few weeks the difference between the 1 year arm and the other rates has seemed larger than normal.

To put this weeks changes in context of what has happened over this summer mortgage rates are still quite a bit higher than earlier. For the 30 Year mortgage on May 22 rates fell to 5.98. Then by July 24 rates raised to 6.63. So rates have fallen since then but we are still quite a bit higher than the rates we saw in May. Below are mortgage rates for the last few weeks.

August 21,2008
30-yr 6.47 15-yr 6.00 5-yr ARM 5.99 1-yr ARM 5.29

August 14,2008
30-yr 6.52 15-yr 6.07 5-yr ARM 6.02 1-yr ARM 5.18

August 7,2008
30-yr 6.52 15-yr 6.1 5-yr ARM 6.05 1-yr ARM 5.22

July 31,2008
30-yr 6.52 15-yr 6.07 5-yr ARM 6.07 1-yr ARM 5.27

July 24,2008
30-yr 6.63 15-yr 6.18 5-yr ARM 6.16 1-yr ARM 5.49

So let's see what these mortgage rates would mean for an actual mortgage payment. We ran today's mortgage rates through our free mortgage calculator for a 200k loan. We also looked at what the payments would have been on the same mortgage a week and a month ago.

August 21st
30-yr $1260.19
15-yr $1687.71
5-yr ARM $1197.81
1-yr ARM $1109.36

August 14th
30-yr $1266.76
15-yr $1695.28
5-yr ARM $1201.67
1-yr ARM $1095.75

July 24th
30-yr $1281.28
15-yr $1707.22
5-yr ARM $1219.75
1-yr ARM $1134.32

So what else is going on in the mortgage industry. First it looks like the government might take over Freddie Mac and Fannie Mae. A few months ago it was made clear that Freddie Mac and Fannie Mae would be protected while other smaller banks would be allowed to fail. Now with Freddie and Fannie running into serious financial problems (Freddie Mac stock has sank from 65.88 to 4.75). Oddly enough one of the problems Freddie Mac faces is that because the US government has made it clear Freddie Mac is too large to fall, investors are hesitant to give funds to Freddie Mac under the assumption that their investment will not be repaid following a government takeover.

So what will happen following the government takeover of Freddie Mac. Personally I think it will be positive. Over the last several months Freddie Mac has created a pretty large list of loans they will not provide backing for. This has hurt the ability of people to get loans and in turn has been one of the negative factors dragging down the national real estate market. If the government takes over Freddie Mac a lot of these restrictions will probably be pulled back. So while it won't magically cure all the problems with the national real estate market it will alleviate at least one of the negative factors weighting it down.

Ki works as a realtor in the central Austin real estate market. His site provides a search of the Austin MLS and a free mortgage calculator along with general information for buyers about Austin real estate.
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Aug. 29, 2008 - A Grape Time in Austin, Texas

Considered by many to be one of the premier nightlife spots in the country, Austin, Texas boasts a high-energy bar scene and entertainment district, and the moniker, "The Live Music Capital of the World." In addition to the literally hundreds of bars, clubs and restaurants that make up Austin's downtown, a newer type of establishment is quickly growing in popularity among locals and tourists alike: the wine bar. The twenty-something University of Texas at Austin crowd can keep 6th Street and it's rowdy, raucous bars and dance clubs; Austin's older, more sophisticated set has found a posh and cozy new home in Austin's burgeoning wine bar scene. Let's take a closer look at three of the most popular spots for fans of the fermented grape.

1.Cork & Company
Cork & Co.'s fun, flirty atmosphere makes it one of Austin's most popular casual wine bars. With its low-key vibe and emphasis on making wine fun, Cork & Co. consistently serves up a good time. Patrons enjoy wine appreciation classes (think "Pottery, Paint & Prosecco"), great happy hour specials, a wide selection of wines for sale by the flight, glass, or bottle, and even lively trivia games. Located at 308 Congress Ave., Cork & Co. is uniquely situated in the heart of downtown, close to restaurants, clubs, and a great view of the capital.

2.Cru Wine Bar
Self described as "an exciting destination to experience and explore the fascinating world of wine," Cru offers Austin's wine aficionados more than 300 wines to choose from, with a selection of more than a dozen unique wine flights daily. Cru's welcoming, yet sophisticated atmosphere make it a great option for any personality, and its two convenient locations (with one downtown, at 238 West 2nd Street, and another at North Austin's trendy Domain shopping center) make it one of the more accessible wine bars in Austin. In addition to an extensive array of wines, Cru's patrons can enjoy a delectable, Mediterranean inspired menu of starters and entrees (including steamed mussels, seared ahi tuna and stone-fired pizzas), or can simply snack on one of their deliciously creative cheese flights.

3.Taste
The newest edition to Austin's sommelier scene, Taste (officially called Taste Select Wines) offers a unique spin on the traditional wine bar concept. Offering a full (though brief and often changing) menu, Taste combines delicious culinary treats (the roast Texas quail is a true delicacy, and the cheese plate is creative, decadent and delicious) with exquisite wines and an extremely knowledgeable (and yet surprisingly unpretentious) staff. Perhaps the best thing about Taste (located downtown at 202 West Cesar Chavez St.) is the self-serve section. Wine aficionados on the go can sample one of the dozens of wines Taste offers literally on tap. Simply hand over your credit card upon entering the bar, and you'll receive a key card that provides access to a wealth of different wines from across the globe for you to swipe and sample at your leisure. Just hand the key card over when you're done, and the staff will tally your drinks and charge you accordingly. But sampler beware, this is a deliciously easy way to blow your budget!

Working in Austin Texas Ki helps people interested in the Austin real estate market. He provides a search of the Austin MLS along with updated statistics on his Austin real estate blog.
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Aug. 28, 2008 - How to Eat Well Without Overspending

With living costs rising at a seemingly constant rate, simple, everyday expenses are getting more and more difficult to accommodate, and many people are finding their budgets getting tighter than ever. While there are plenty of areas people can trim their budgets, such as spending on entertainment or shoe shopping, the rising costs of necessary items like food and gasoline make it harder and harder for people to cut enough spending elsewhere in their budgets to accommodate the increased expense of these everyday necessities. And despite the need, it's simply unrealistic to eliminate all extraneous spending in order to make room for the ever-increasing expense of groceries and gasoline.

Thankfully, with a little budgetary reorganization, some planning, and a dash of creativity, you can maximize your food budget to make sure you get the best value for your dollar. Here are a few tips to help you spend wisely at the grocery store, and stretch your food budget as far as possible.

Plan ahead
All too often, people approach grocery shopping with an impulse-buy mentality. "I'll just go see what's on sale," is an extremely ineffective approach to grocery shopping. Sit down with a cookbook and plan your meals at least a week in advance. Scheduling meals out in advance will allow you to maximize your food spending, as you can organize meals by primary ingredients, using them from one day to the next. Also, planning ahead will help you avoid impulse buys when you get to the store. Make a list and stick to it.

Buy in bulk
The larger quantities you're able to buy, the more you'll save. While memberships at wholesale discount clubs aren't cheap, they pay for themselves almost immediately in big savings. Buying items like individually packaged frozen meats, toilet paper, paper towels, laundry detergent, etc., is significantly more cost effective than buying these items in smaller amounts at your local grocery.

Keep it simple
Sticking to simple, basic ingredients is a great way to save at the grocery store. Creative recipes and exotic spices can make even the simplest items (chicken breasts, for example) a culinary treat. So skip the fillet and get creative with your recipes. You'll still eat well, and your budget will go much farther.

Be prudent with produce
While buying in bulk is great for some items, it's rarely wise when it comes to produce and other perishables. Less is more when it comes to items that have a shorter shelf life. When buying produce, only buy what you're certain you'll use. This will help you avoid unnecessary waste, and will help you save money.

Keep it close to home
Eating out is one of the fastest ways to blow through your food budget. Between overprices meals, drinks, tax, and tip, it's extremely difficult to get enough value in a meal out to justify it over eating in. Sure, there's more work involved in cooking for yourself, but it's significantly more cost effective. Save eating out for special occasions only, and you'll find your food budget will go much farther.

Escapeso Realty is a small real estate company assisting buyers looking for Austin homes. Their site provides a search of the Austin MLS and information on mortgage interest rates.
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Aug. 28, 2008 - How to Stay Fit on a Budget

Many Americans are foregoing luxury expenses like high car payments, vacations, and gym memberships in order to combat the struggling economy and rising costs of everyday expenses like food, gasoline, and other essentials. Fast food restaurants are beefing up their value menus in attempts to lure budget-conscious consumers through the door, and people everywhere are feeling the crunch of fewer and fewer resources. But being on a tight budget doesn't mean you have to abandon your fitness regimen, or skip a healthy meal for a cheaper, high calorie alternative. Instead, follow these simple tips to maximize your budget without sacrificing your health, or the health of your family.

Go pedestrian
Recent commuter studies have found that the average car trip covers a distance of less than three miles. Not only is driving such short distances a huge waste of gas and a major problem for the environment, it's just plain lazy. Next time you need to run an errand close by, walk there instead of driving. If it's a bit too far to walk, hop on a bike either option is healthier (and more economical) than relying on your car to get you everywhere you need to go.

Embrace public transportation
If you live in a city that has a decent public transportation system, use it! Odds are you'll have to walk a ways to get to the nearest bus or commuter rail stop, but since walking is one of the healthiest forms of exercise you can find, it's a win-win situation. Not only will you get more activity into your day, you'll save money on gas, and help cut back on pollution.

Avoid over-processed foods
People constantly seem to operate under the misconception that unhealthy foods are cheaper than healthy ones. While this certainly can be true, it doesn't have to be, especially if you practice smart shopping habits. Instead of opting for prepared foods or worse, fast food, stock up on basic staples like chicken breast, rice, and frozen vegetables. Buy chicken breasts in bulk and package them individually, then throw them in the freezer for convenience. The great thing about chicken is, it's healthy, and it can take on almost any flavor, giving you literally hundreds of preparation options. Similarly, rice is inexpensive and extremely versatile, and frozen vegetables are cheap and just plain easy. In the long run, eating smart will keep your family healthier, and shopping smart will keep your budget going strong. Also, always keep an eye out for which fruits and vegetables are on sale!

Get active
One of the leading causes of American's poor health and fitness is a lack of activity. Sitting at a desk all day is not a healthy routine, so do what you can to mix it up as much as possible. Skip a coffee break in favor of a quick, brisk walk outside. Or, make it a point to take a walk as a family in the evening after dinner. It will help promote healthy digestion, and it will give you some quality family time, away from all the distractions you find at home. Another great, inexpensive exercise option is to buy a workout video. They're cheap, and can be very effective (just be sure you pick one that you'll enjoy dance aerobics and belly dancing workouts are fun, effective, and never boring).

Ki is a realtor working in the Austin real estate market. His website provides a graphical search of the Austin MLS along with a free mortgage calculator.
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Aug. 24, 2008 - Five Ways to Cut Energy Usage & Save Money Around the House

It takes unimaginable amounts of energy to power the United States, and the needs is constantly growing. As global warming and fuel crises gain more and more public attention, people everywhere are now looking for ways to live a greener lifestyle. But this doesn't mean rebuilding your home to run on solar energy, or overhauling your current lifestyle. There are plenty of small, simple things you can do every day to help reduce your household's energy consumption (and even waste). Here are five effective changes you can make right now.

1.Turn Off the Lights
We've all heard this a million times, whether in the midst of an energy crisis or not. But that doesn't make it any less true. By turning off the lights when you leave a room, or simply using one light instead of several, you can save big bucks on your electric bill over time. Plus, you'll cut back on a lot of wasted energy by using it more sparingly. Also, installing lower wattage bulbs not only reduce energy use, they also typically last longer, meaning you'll save money on your shopping bills, too.

2.Check Your Insulation
Poor insulation can cost you big time in wasted energy. Year round, insulation works to keep your house cool or warm, depending on the season. If you have poor quality insulation, or if it's old and losing effectiveness, you could be wasting not only an incredible amount of energy, but you could also be significantly overspending on your electricity bills. Just like it doesn't make sense to leave the air conditioner on with the windows open, heating or cooling a house with poor insulation is both wasteful and ineffective (and frankly, kind of silly).

3.Fix Leaks
Drip, drip, drip. Leaky faucets are huge water wasters, particularly because people often think of a leak as a small problem how much water can really be wasted by a tiny drip? Well, you'd be surprised. Just plug the sink or tub for a day and see how quickly that drip, drip, drip fills it up. If you spot a leak, fix it as quickly as possible (you may even be able to do it yourself, if you catch it early enough). Not only is it the responsible thing to do for the environment, it's the responsible thing to do for your budget, too.

4.Consolidate Wash Loads
Washing machines and dishwashers use an incredible amount of water, so next time you're going to do a load of laundry or dishes, make sure you have enough things that need cleaning to fill the load and maximize your water and power usage. If there are only a few dirty plates or clothes, either wait until you have more to do, or simply wash what you need by hand.

5.Reduce, Re-Use, Recycle
Being conscientious about your household's waste is the first step toward a greater environmental awareness. There are lots of ways to cut back on waste: eat leftovers; use old rags for cleaning instead of paper towels; recycle bottles, cans and paper products the list goes on and on. And always donate unwanted items instead of throwing them away you'll not only be helping the environment, you'll also be helping someone in need.

Ki is a real estate broker working in the Austin real estate market. His site has a map based search of the Austin MLS along with a free mortgage calculator.
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Aug. 24, 2008 - Tips And Tricks For Home Staging

Staging a home can end up being a valuable tool in selling the house. Not only can it assist in selling a house, but it can also help the seller get top dollar.

The amount of staging needed varies wildly from a small scale de-cluttering of a home to hiring staging professionals to the tune of several thousand dollars, but the goal is the same- creating a pleasant mood by making a house appear bigger, brighter and warmer while neutralizing the area so prospective buyers can visualize how their own furniture and belongings can be incorporated into the home.

In a good or bad housing market, some studies have shown that staged homes can add between 10 and 15 percent to the sale price of many homes. Sellers who don't take the time to properly stage may end up with their house on the market for longer periods of time, and agreeing to a lower selling price to a buyer who can see the potential the home has that other viewers did not.

Though professional home stagers may be needed if a home is completely empty, the majority of staging can be accomplished by the seller. A quick visit to some newly built model homes can help a seller get an idea of how interior designers and stagers prepare a home. There's a delicate balance between keeping the home sparse enough to appear as spacious as possible, and picking the right pieces to maintain a warm and livable space.

The first impression a potential home buyer will have of a house will be of the exterior, so nice curb appeal is important. A fresh coat of paint on the front door, a nicely trimmed lawn, and fresh flowers in a garden or on the front porch are easy and effective staging techniques. A brightly colored patio set in the backyard can help the home's exterior appearance when the buyer steps out the back door.

Kitchens and bathrooms are two of the most important rooms in buyers' eyes. Kitchen counters should be clear of all small appliances and other items that tend to gather on them. When counter tops are cleared of clutter, the amount of working surface increases. A splash of color, such as a bowl of fruit is acceptable, but a refrigerator, covered in personal pictures and comic strip cutouts, is not.

Bathrooms should look as open and airy as possible, and above all clean. A new white toilet or tub, or a new set of sink faucets could be a worthy investment during the staging process. Personal toiletries, like toothbrushes, should be removed from sight, while the addition of scented soaps, lotions and clean white towels could give the room more of a spa type feeling.

For bedrooms, remove as much unnecessary furniture as possible, and keep it in the garage or in storage if need be. For smaller rooms, hang curtains high on the wall, and do not cover the actual window with them. Doing so will increase the apparent height and width of the room. Neutralize the rooms by removing all personal pictures and keeping wall colors a nice warm, clean color.

By following a few simple and effective staging guidelines, a home seller can increase his or her chance to sell the home quickly, and the time and effort will pay off by netting the highest offer as well.

Working as a realtor in Austin Texas Ki helps people search for Austin homes. He provides general information about Austin real estate online as well as tool that graphs mortgage interest rates.
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Aug. 24, 2008 - Roller Derby, Austin Style

Ten women go whizzing past wearing wild fishnet hoses. Their colorful get-ups also include helmets and kneepads and flying scarves and the skates on which they are racing around the oval track.

Elbows fly, legs lock, bodies go careening and sliding along the masonite track. Occasionally two shapely lovelies go at each other, swinging hard and fast, falling to the ground, rolling and grappling as the beer-soaked, capacity crowd roars in approval. It's Sunday afternoon at the roller derby bout; roller derby with a Texas twist.

Austin, the city that likes to keep itself weird, has given birth to yet another entertainment craze that has gone national. All-girl roller derby, loosely fashioned after the co-ed roller derby teams of yesteryear, took root here in 2001 with the founding of the TXRD Lonestar Rollergirls. A couple of years later, most of the teams in the league spun off to form a second league, Texas Rollergirls, due to a difference of opinion about how the original league was managing things. In addition, the Texas Rollergirls play on a flat track, rather than the traditional banked track that the Lonestar Rollergirls prefer.

Volunteerism and inclusion are two of the philosophical and practical pillars of the success of this Austin-born movement. The women risk bodily injury for the thrill of extreme sport and the glory of winning; they don't get paid. Proceeds go to local charities and to the expense of running the league. Texas Rollergirls, in particular, are fiercely committed to their slogan, a league for the skaters, by the skaters.

Both leagues boast an independent, tough-girl spirit and are proud of the way their movement grew from their own sweat and muscle to grow within a few short years into a national phenomenon as all-girl roller derby leagues have sprouted up all over the country. Several documentary films and one reality-style national TV show have helped propel the popularity of this fast-paced, contact sport for women. The leagues in different cities have begun to hold inter-city and inter-state competitions and a national tournament as well.

The sport has been hugely successful in Austin as both local leagues constantly draw sell-out crowds. Enthusiasts swill ice-cold cans of Lone Star and local bands fill the arena with loud, raucous Austin rock and roll. Fans of the flat track version of the sport love to sit in the first two or three rows where the chances are likely that they'll become part of the painful action when some blocker or jammer gets knocked off the track-there are no rails or barriers-and goes sailing into someone's lap.

Rough and tumble roller girls with names like Raquel Welts, Misty Meaner and Lucille Brawl plaster and pummel each other all through the four 20-minute periods of the game. By day, they are moms, special ed teachers, maternity nurses and art school graduates. On the track though, they assume their alter egos and put on a show that one of them, Melissa Joulwan (Melicious), describes in her book, Rollergirl: Totally True Tales from the Track, as a "dazzling carnival on wheels"a sport of speed-skating and brutal body checks, played out against a backdrop of head banging rock. The spectacle drives fans into a hormone-and-beer induced frenzy.

AE channel produced a 13-episode television program in 2005 called Rollergirls that was about the TXRD league, their skating and scrapping escapades, and their life off the rink with boyfriends and bosses. The website for the show describes the sport as raucous bouts that combine fierce competition with jaw-dropping outfits and crowd-pleasing personalities.

The rollergirls impact has even had an effect on the local Austin real estate market. Texas Rollergirls marketing director Rebecca Guitierrez (RadioActive) said that we've had many folks move here because of the derby movement.

That's because it's not just about the thrill, the sex-appeal and the colorful, carnivalesque atmosphere of the sport. It's the community-based, locally controlled, creative and free-wheeling spirit of fun and competition that sets Austin apart from so many other cities in the country, that has been attracting people to come and settle here for decades.

Escapeso Realty helps investors looking for Austin Texas real estate. They provide a graphical search of the Austin MLS along with a blog with updated trends and info on Austin real estate.
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Aug. 19, 2008 - Fixed Rate Mortgages Hold Steady Again While Arms Nudge Down

For the second week in a row 30 year mortgage rates held steady at 6.52. 15 year mortgages last week moved from 6.07 to 6.1. The week they returned to 6.07. So basically the fixed rates are holding steady. 5 Year Arms fell from 6.05 to 6.02 and 1 Year Arms fell from 5.22 to 5.18. So they didn't move that much. But what is interesting is the overall trend. This week marks the 3rd week in a row that both 5 and 1 year arms have fallen. The 1 year arm has fallen from 5.49 to 5.18. This continues an overall trend of the difference between 30 Year Fixed mortgages and 1 Year growing. On May 1st 30 Year Arms were at 6.06 and 1 Year Arms were at 5.29. Mortgage rates since then have risen up to 6.52 while 1 Year arms have fallen to 5.18. The question of course is why banks are making arms (the mortgage product that is partly responsible for the high rate of foreclosures) more attractive. And I don't have an answer on that. Below are the mortgage rates for the last few weeks.

August 14,2008
30-yr 6.52 15-yr 6.07 5-yr ARM 6.02 1-yr ARM 5.18

August 7,2008
30-yr 6.52 15-yr 6.1 5-yr ARM 6.05 1-yr ARM 5.22

July 31,2008
30-yr 6.52 15-yr 6.07 5-yr ARM 6.07 1-yr ARM 5.27

July 24,2008
30-yr 6.63 15-yr 6.18 5-yr ARM 6.16 1-yr ARM 5.49

July 17,2008
30-yr 6.26 15-yr 5.78 5-yr ARM 5.80 1-yr ARM 5.10

As always I like to translate the mortgage rates into an actual mortgage payment. So using our free mortgage calculator below are what today's rates would translate into for a 200k mortgage. I also run the numbers based on what mortgage rates were at on May 1st.

August 14th
30-yr $1266.76
15-yr $1695.28
5-yr ARM $1201.67
1-yr ARM $1095.75

May 1st, 2008
30-yr $1206.82
15-yr $1643.73
5-yr ARM $1164.60
1-yr ARM $1085.89

On the one hand in general I am against arms. They are generally dangerous so I don't like to recommend them. But with such a wide gap between arms and traditional mortgages they are hard to ignore. If you do get an arm I would be prepared for your mortgage to jump substantially. For the most part I would consider an arm if you had enough money in savings to pay off the property if rates jumped up dramatically over the year.

The other factor to consider when getting a mortgage is credit scores. While for the first half of 2007 all one had to do to get a mortgage was show up at a bank over the last years banks have gotten a lot tighter. Additionally, interest rates now more than ever are tied to ones credit score. So if you are planning on buying a house sometime in the near future its a good idea to figure out what your credit score is now to make sure there are no outstanding debts or problems you need to fix.

Escapeso Realty provides current information on mortgage interest rates on their site. They also provide a free mortgage calculator and a mortgage rates widget.
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Aug. 19, 2008 - How to Avoid Over-Spending

Sticking to a budget can be extremely difficult particularly if your finances are tight and you aren't inclined to be particularly organized or disciplined. Never fear, even those of us who aren't prone to budgeting can do it successfully, so long as we know how to stay on track. True, that's easier said than done, but there are plenty of tips and tricks you can use to help keep curb excess spending and keep your budget intact.

1.Limit Your Resources
Oftentimes, people spend money on spur of the moment purchases, that they really should be saving (and likely even have ear-marked) for something else. Credit card bills, savings accounts and other payments that aren't necessarily imperative (or that people believe can slide) often fall victim to this kind of spending. The easiest way to avoid this bad habit is to portion out your money every time you get a pay check. Put your bill money (including credit card payments!), grocery money, and funds for other necessities in the bank. Whatever you have left over that can be considered spending money, take out in cash. This way, once the money you've budgeted for miscellaneous spending has been used up, it's gone. Plus, having the funds in cash can often help you monitor your spending better people often go overboard when buying things with a debit or credit card because they don't see the account balance shrinking in front of them.

2.Make Shopping a Marathon
Next time you head out on a shopping trip, plan to run all your errands at once. If you have a list of places to go and things to accomplish, you'll be less likely to spend extra time shopping or browsing for items other than those on your list. Additionally, if you're spending quite a bit of money in one day as a result of consolidating your errands, you'll probably be less inclined to spend more money frivolously. Plus, running all of your errands at once saves gasoline and can help trim that ever-increasing, always-pricey area of your budget.

3.Make a List, Check it Twice
Anytime you head to the store, take a list with you. And if you're going on a major shopping outing for your weekly groceries, or something bigger like back to school sit down with your list before you leave the house and go back over everything, eliminating anything you don't actually need. Keeping a list will not only help you stay on track, it will likely make your entire outing more efficient, and more effective. Plus, having an accurate list will help you avoid forgetting something important and having to make an extra, unnecessary trip.

4.Avoid Emotional Shopping
Everyone knows the adage, "Never go to the grocery store hungry." The same applies for any other kind of shopping. Many people over-spend because they find shopping therapeutic it eases stress or relieves depression and often buy things they don't even really want, just for the feeling they get as a result. Just don't do it; shopping is not a hobby.

Over-spending is easy to do, and sometimes it can be entirely justified, but those times are rare. Follow these simple tips to keep yourself on track and foster financial security something that never goes out of style.

Escapeso Realty is a small real estate brokerage in central Texas. They have a Austin MLS search for visitors along with statistics and trends on the Austin real estate market. They also provide a free mortgage interest rates widget to keep up with current mortgage interest rates changes.
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Aug. 19, 2008 - Town Lake - Lady Bird Lake

Known previously as Town Lake, Lady Bird Lake is actually the portion of the Colorado River that runs through the center of Austin, dammed on either end to create a peaceful waterway with plenty of boating opportunities. The Town Lake Corridor, surrounding the water, is full of hike and bike trails, parklands, sports fields, music and festival locations - with views of the Austin skyline competing with the serenity of river's vistas.

The Town Lake Corridor includes both north and south banks of Lady Bird Lake, bounded by Cesar Chavez to the north, and the appropriately named Riverside to the south, with Tom Miller Dam marking the western boundary, and the Colorado River Park to the east. Within this huge, rambling area, you will find over ten miles of some of the most popular and scenic hike and bike trails located in Austin. Wildly popular, the trails are shared by runners and walkers, bikers and strollers, dogs and people alike. The 8 miles that flank the river are wide, level, shady, and have trail markers, water fountains and benches scattered along the way.

Boating on Lady Bird Lake is perennially popular both for sporting teams and for recreational boaters. No motors are permitted, allowing visitors to enjoy a relaxing day rowing, canoeing, kayaking or peddle boating. The Rowing Dock is a Town Lake Austin Parks and Recreation concession where visitors can rent boats by the hour. They also offer camps, private lessons, classes and memberships.

No visit to Town Lake would be complete without a pilgrimage to the Steve Ray Vaughan Memorial Statue, located on the south side of the River. Mounted by the City of Austin in 1994, the homage to the late great Texas blues guitarist is directly adjacent to Auditorium Shores, not coincidentally one of Austin's most popular periodic outdoor music venues. Vaughan played Auditorium shores during his abbreviated career, and it remains a top stage, featuring local and national acts.

Town Lake Park boasts 17 ball fields for baseball, football, soccer and rugby, and volleyball, and on its western perimeter adjoins Zilker Park, making this easily the biggest recreational area in the city. Its proximity to downtown Austin means that many dining options can be found within blocks on either side of the water, including the "restaurant row" located on Barton Springs Road. Austin's perennial favorites such as the Shady Grove, Austin Java, Chuy's and the Green Mesquite join relative newcomers including P.Terry's Burger Stand, and Flip Happy Crepes - located in a shining silver Airstream trailer. The popular South Congress and South First dining and shopping areas are in walking distance as well.

On July 26, 2007, the Austin City Council passed a resolution authorizing the renaming of Town Lake to Lady Bird Lake in honor of Lady Bird Johnson, the former First Lady of the United States and a long-time resident of the Austin area. Although Johnson had declined the honor of having the lake renamed for her during her life, her legacy as a proponent of nature and beauty endures after her passing.

Ki lives and works in Austin. He runs a map based Austin MLS search on his site along with detailed information about Austin real estate. His website also has updated info on mortgage interest rates.
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Aug. 19, 2008 - Austin Originals: The Alamo Drafthouse

Interested in seeing a movie in Austin? If you're not going to see it at the Alamo Drafthouse Cinema, you are truly missing out. One of the city's beloved Austin originals, the Alamo Drafthouse Cinemas (or simply the Drafthouse, as many Austinite's call it) have been around since the late 1990s, when the first opened downtown on Colorado Street, as a second-run theater. To date, there are nine Drafthouses in all, with four in Austin (the newest having just opened at the historic Ritz Theater on 6th Street), one each in Houston, Katy, San Antonio, and Rio Grande, Texas and even one in Winchester, Virginia.

While only nine Drafthouses have permanent addresses, the theater's Rolling Roadshow takes their signature films and fun to locations worldwide. But what's so special about the Drafthouse, you ask? What makes it any different than your run-of-the-mill theater franchise? Well, for one (as the name implies), they serve beer. Not just beer, though the Drafthouse offers a full menu of delicious, reasonably-priced movie-themed fare. Sure, they offer a full range of the traditional movie staples popcorn, candy but how about an order of potato skins, red pepper hummus, or chips and salsa to nibble on during your favorite flick? If you're in the mood for a full meal, pick from any one of their delectable sandwiches (the "Smoky and the Bacon" BLT is a great choice), pizzas ("The Godfather" is an Italian feast) or full meal salads they've even got a $5 Shake.

In addition to the regular menu, the Drafthouse also has frequent movie feast specials particularly to accompany new releases featuring prix fix gourmet menus matched specifically to the film in question. The Drafthouse is known for its outrageous events, but these film feasts are some of the most popular (take the Lord of the Rings marathon movie feast, which featured all three films and a full day of hobbit-themed fare including elevensies for a whopping $100+ per ticket).

Other must-see events at the Drafthouse are the infamous Master Pancake Theater, which features comedians commenting on a wide variety of films in a Mystery Science Theater 3000 kind of way. They also host and annual Austin Air Guitar Championship, weekly prime-time TV nights for popular shows like "Lost" and 24, classic movie quote-alongs, and even music fests, like the "90s Alternative Sing-Along." There is no limit to how far the masterminds behind Austin's iconic theater will go to entertain (and sometimes shock) its loyal patrons.

Uniquely Austin, and decidedly more concerned with the customer experience than capacity, the Drafthouse does not allow children under six (except for designated matinees), and each Drafthouse theater is relatively small. The theaters are made smaller still, by the fact that every other row of seating has been removed to accommodate the scurrying waiters who run back and forth from the theater to the kitchen throughout the show, wining and dining each happy patron.

Anyone who lives in Austin will tell you, this town is one-of-a-kind, thanks in large part to the many original Austin establishments that help define the city and its character. Without these unique establishments the Drafthouse being near the top of the list Austin just wouldn't be the same.

Ki is a real estate broker in Austin Texas. His website provides a guide to Austin real estate along with a free graphical search of the Austin MLS. He also maintains an Austin real estate blog for potential home buyers to keep up with the Austin market.
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Aug. 15, 2008 - How to Make a Budget (and Stick to It)

Responsible budgeting and money management are skills everyone needs to learn as is the discipline required to put these skills into action. Many people find it difficult to stick to a budget; oftentimes, this is because the budget they created is not realistic. Regardless of the economic climate, it is important to know how to manage your finances and keep track of your spending. In order to do this, you need a budget that you can live with. Here are a few simple steps to get you started.

First things first: before you can put together a reasonable, livable budget, you have to know what the greater scope of your financial situation actually looks like. This doesn't just mean knowing how much money you make every month you need to take into account your income, your fixed expenses (like rent, gas, groceries, day care, and insurance) you pre-existing debt, as well as other random spending needs (summer vacation, birthdays, etc.).

Once you have all of this information in front of you, organize it into three categories: Income, Needs, and Wants. Income will obviously be your salary and any other wages you may receive. Needs are your fixed expenses, not including entertainment and other superfluous expenditures (just because you like going out to dinner and a movie once a week, doesn't mean you need to). You should, however, include monthly bill payments in your fixed expenses, as paying off debt is a crucial step in establishing financial stability. Finally, "Wants" are things like entertainment spending, new clothes or jewelry, trips, etc.

Now that you have an accurate picture of your financial situation in front of you, it's time to do the dirty work. What can you afford, and where do you have to make cuts? The first things that need to be taken into account when determining where your money goes each month are your "Needs". Once those are accounted for (including, if at all possible, paying into a savings account), you can start adding some of your "Wants" to the list prioritize these, as it's unlikely you'll be able to accommodate them all. Also, be honest with yourself when identifying "Needs" vs. "Wants". A top-tier cable service with 1,000 channels is not necessary. Neither is a fancy gym membership (especially if you don't use it much). Being honest with yourself and limiting over-the-top expenses is not only the financially responsible thing to do, it will free up more cash for other items (like occasional dinners out, or a movie rental membership).

Once you have a budget worked out for yourself, make sure you keep it on hand a budget is useless if you don't use it. Update it often, and feel free to make changes and alterations if you need to. Think of your budget as a fluid, living document. Your needs may change from month to month or quarter to quarter, and your budget should reflect that. Finally, don't get discouraged if you go over budget one month. Remember, it's a tool, a guideline. If you use it correctly, it will help you achieve long-term financial stability.

Escape Austin real estate operates in central Austin. Their site has map based search for Austin homes along with a Austin real estate blog.
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Aug. 15, 2008 - Texas Hill Country Food and Wine Festival

Held every spring, the Texas Hill Country Wine and Food Festival is a celebration of the rapidly expanding food and wine culture to be found in Central Texas. This 501(c)4 non-profit organization was founded in 1986, and their annual festivals have become one of the hottest tickets in town. Held over a four-day span, and featuring a multitude of events scattered throughout the greater Austin area, this festival highlights the cutting edge chefs, writers, food and wine producers who have elevated Texas into the culinary firmament.

The festival is concentrated in some of downtown Austin's most revered establishments, from the posh haute cuisine of the Four Seasons, to Austin's own Spanish tapas restaurant, Malaga. The events radiate out from this locus, including other Austin institutions such as Central Market, and spreading out into the Hill Country wineries including Fall Creek, Becker and Spicewood. The festival culminates in an all-day fair, often held in San Gabriel Park near Georgetown.

The events run the gamut from the frenetic heated battles of Iron Chef-style competitions, to Hill Country luncheons held amid the spring wildflowers at one of the participating wineries. Film and food are combined in events held at the Alamo Drafthouse, and music and food are combined in events such as Uncorked and Acoustic, featuring some of the finest talent Austin has to offer playing acoustically while participants enjoy food prepared by Austin's finest food talents. Bat cruises, reserve tastings, winemaker dinners and much more round out the weekend's offerings.

The premier event is the festival's Grand Tasting. Fittingly known as Stars Across Texas, the celebrated chefs featured here are from the hottest restaurants in Dallas, Fort Worth, Houston, San Antonio, Austin, the Hill Country and beyond - all bring their best to this unique event. The chefs and winemakers circulate throughout the event, giving participants the change to mingle and speak with these artisans in a unique milieu. With more restaurants, chefs, chocolatiers, pastry chefs, viticulturists and winemakers present than at any other event, this is truly the crown jewel of the festival.

The Sunday Fair is a less structured, more family-oriented event during which participants can sip and sample their way through a myriad of tents. Vendors include wineries, food artisans and restaurants from Texas and beyond, all proffering their specialties. Renowned chefs provide cooking demonstrations, discussion and panels are held on different food and wine-oriented topics, and since it is Austin, after all, you can count on some of the best live music from some of Austin's favorite musicians.

Throughout the four days of the festival, over thirty individual events are held, highlighting the products of more than one hundred restaurants, and at least sixty wineries. Although most speakers and presenters are Texan, guests are invited from other parts of the country, and the world, to illuminate Texas' impact on food and wine across the globe. The Festival is a affiliated with the prestigious James Beard Foundation, the Texas Department of Agriculture's GO TEXAN program, the Texas Restaurant Association and the Wine and Food Foundation of Texas.

Ki lives in Austin Texas and enjoys the Austin music scene. He runs a guide to Austin Texas real estate. To search for a house you can use his search of the Austin MLS or read about the market on his blog about Austin real estate.
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Aug. 15, 2008 - Austin Ghost Tours

Austin is steeped in history, from the days of the Republic of Texas, through the establishment of Austin as the Capitol of the State of Texas. Downtown Austin is full of old, historic buildings, many of which are said to be haunted by a multitude of ghosts. Austin Ghost Tours has meticulously researched the history behind each legend, and has created walking tours based on the colorful and sometimes frightening stories of Austin's past.

Originally created as an offshoot of Austin Promenade Tours, a historic walking tour with a less ghoulish focus, Austin Ghost Tours has been giving people goosebumps for well over a decade. Their popularity increases every year, as does their offerings. They have recently begin offering online tours to those who can't join the walking tours – but the spine-tingling feeling of walking with the spirits is best experienced in person.

One of Austin's most "incredibly haunted" spots is the historic Driskill Hotel. Located on the corner of Sixth and Brazos, it has been the crown jewel of downtown Austin since it opened on December 20, 1886. Some say that the spirit of Colonel Driskill remains in the building he was so proud of, evidenced by mysterious puffs of cigar smoke. Staff have reported sensing a child bouncing the ball down the grand staircase leading from the mezzanine down to the lobby and giggling – perhaps the ghost of the four-year-old daughter of a US Senator who was playing unattended with a ball when she slipped and fell to her death on the marble floor at the bottom of the stairs. These and many other ghostly legends are part of the Driskill's vibrant history.

The Driskill figures greatly into two of the tours offered – the Ghosts of the Capitol Tour, which includes the Driskill, as well as the Capitol itself, and the Governor's Mansion. The Ghosts of the Warehouse District Tour features some of the oldest buildings in the city, including the site of series of gruesome murders in 1885. These two tours are 90 minutes each, and both end at the magnificent Driskill.

One of the most popular tours is the Sixth Street Pub Crawl. Sixth Street, although a vibrant and extremely modern entertainment district, is full of ancient building with their fair share of ghosts, murder and mayhem. Enjoy Austin's historic taverns while learning about its haunted past on this unique tour. The Sixth Street Tour has proven to be all the rage for bachelor and bachelorette parties.

Other tours include one dedicated to the chilling story of the "Servant Girl Annihilator," a brutal serial killer who predated Jack the Ripper, and terrorized female servants in 1884. Halloween is a perfect night for ghost stories, and Austin Ghost Tours celebrates with one of their best tours – a jam-packed combination tour that includes the best of each. Tickets go early for this one, so book in advance.

Austin Ghost Tours conducts their spooky events rain or shine, and since they are walking tours, participants should dress accordingly, including wearing appropriate shoes.

Ki helps buyers and sellers in Austin. His site provides information about Austin real estate along with a search of for homes in the Austin MLS along with a map search for Austin commercial real estate.
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Aug. 11, 2008 - Downtown Austin – Urban Living

One of the more recent developments in the Austin real estate market are the multitude of loft condominiums springing up smack-right in the middle of downtown. This new push towards urban living reflects an interest in a pedestrian-oriented community, optimal for those who work in Austin's business center, but also attractive to others who appreciate an abundance of amenities offered within walking distance. Downtown Austin has much to offer Austin residents, whether they work, live, or visit this area which truly represents the cultural heartbeat of the city.

Austin's downtown is bursting with shops, cafes, galleries and nightlife. Whether looking for antiques at the beloved Whit Hanks, seeking esoteric ethnic treasures at Tesoros, or shopping for home furnishings at Bella Home or Zanzibar, the shops are local, and the wares are unique. In addition to Starbucks, there are plenty of cafes around, including Little City, and Drogo's Cafe do Brazil. Art galleries, including Art on Fifth and Artworks, are scattered throughout the area, and the nightlife – well, it can’t be beat.

Most of the new lofts are far enough away from the entertainment districts to provide relative quiet, but are close enough to make a night out on the town just a short walk or cab ride away. The bars, music venues and restaurants of the famed Sixth Street district now have competition from the bustling young crowds of the Red River scene. The Warehouse District continues to be one of the most vibrant entertainment areas in the city, although the new 2nd Street shopping and dining area is thriving as well.

Downtown Austin is home to some of the finest restaurants in the city. Louie’s 106 has enticed downtowners with its Mediterranean tapas and steaks for years, and the Driskill Grill offers another close fine dining experience. Eddie V's and McCormick & Schmick offer superlative seafood, and Sullivans, Ruth's Chris Steak House and Fleming's are top-notch steak houses. The varieties of food run the gamut as well – from Spanish food at Malaga, to Italian at La Traviata, from sushi at Kenichi or Kyoto to Southwestern cuisine at Z-Tejas.

One the most attractive parts about Austin's downtown is its proximity to the nature and beauty found at Lady Bird Lake, as well as the Town Lake parks and trails. The plentiful outdoor activities provide the urban dweller with opportunities to walk, run, bike, and boat - all within walking distance of the sleek and sophisticated apartment buildings springing up. Waterloo Park, Republic Square, and other smaller patches of green add to the options for outdoor activity.

Downtowners will find their grocery needs admirably met by the flagship store of the Whole Foods Market chain. This Austin-based business launched their enormous new store in 2005, making fresh and organic produce, dairy, meats and seafood available. In addition to staples, an on-site bakery and international groceries, Whole Foods offers an abundance of prepared foods, from soups, salads and sandwiches, to pizza, seafood and a raw foods stand.

With all of life’s necessities within walking distance, it is no wonder that Downtown Austin real estate is thriving as a residential community.

Ki is an Austin real estate agent. He runs a site with information about Austin real estate and a search of the Austin MLS. He also talks about current events on Austin real estate blog.
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Aug. 11, 2008 - Austin Traditions: The Trail Of Lights

Although Austin's weather can make Christmas seem like the 4th of July, a sure-fire way to get into the spirit is to visit the annual Trail of Lights Festival. A holiday tradition for decades, this dazzling display of holiday decorations and lights is mounted in Zilker Park in Austin Texas every December, draws thousands of visitors, and along with the lighting of the tree at the State Capitol, is one of Austin's most beloved holiday customs.

The tradition dates back to 1965, when Yule Fest, as it was then called, debuted with a candlelight walk, a live nativity scene, Yule Log, and the first lighting display created for the event. This original display, "The Twelve Days of Christmas," has been a highlight of every festival since the very first one. Two years later, the now-famous Zilker Tree made its debut. Touted as the largest man-made tree in the world, it is 155 feet tall, and 180 feet in diameter, with almost 3,500 bulbs hung on streamers strung from Austin's historical Moonlight Tower. The lighting of this tree on the first Sunday in December has marked the beginning of the holiday season since 1967, and since 1987, the winner of a children’s tree-coloring contest has done the honors.

The festival has continued to grow and expand, and in 1992 was renamed The Trail of Lights. Today, the Trail of Lights is over a mile long, and features over 40 elaborate scenes constructed of lights. Santa's House allows children to take pictures with Santa, but if the line is too long, they can "mail" him a wish list at the pretend Post Office. Holiday and winter themes abound, and the spectacular displays include, penguins, Mother Goose, and the King of Winter. Entertainment stages, refreshment stands, and bonfires lend to the air of festivity.

A unique tradition takes place on the Saturday following the lighting of the Zilker Tree. The Trail of Lights 5K Run allows entrants to preview the displays, on a 3.2 mile run that starts under the Zilker Tree, winds through the south side of Zilker Park, goes through the Trail of Lights and finish back at the Zilker Tree. Only registered participants are allowed access to the Trail for this event, and they also received a coveted tee-shirt commemorating the experience.

Entertainment is scheduled throughout all the days of the Trail of Lights festival, and provides family-friendly holiday enjoyment for all. A wide variety of local talent is featured, including dancers, musicians, storytellers, choirs, comedians, and theatre troupes.

This is one of Austin's premier all-ages activity, where you will find teenagers, kids, toddlers in strollers and babies in slings enjoying the glittering displays along with adults of all ages. Because it is so popular, the crowds can get large, but the holiday cheer in the air encourages courtesy and a real feeling of community. The festival is free and open to the public from 7 to 10 p.m. – check the website for specific dates, an entertainment schedule, and parking information.

Escapeso Realty is a small company working in the Austin real estate market. His site offers visitors a free search for Austin homes along with a free mortgage calculator.
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Aug. 11, 2008 - Barbecue Joints in Austin

Texas BBQ is legendary – slow smoked meats served with or without sauce, with our without sides. Although Llano, Lockhart and Taylor boast the most storied BBQ joints in the state, Austin holds its own with some incredible BBQ options. Whether holding to the bottom line of Texas BBQ, beef brisket, or expanding out to include sausage, pork ribs, or chicken, BBQ lovers can find down-home joints, high-tone restaurants, and even music venues serving up Austin’s finest.

Stubb’s: Probably the most famous Austin BBQ originally came from Lubbock, in the plains of West Texas, where C.B. Stubblefield’s hickory-smoked meats and heavenly sauce fortified a burgeoning music scene, including Joe Ely and Jimmie Dale Gilmore. In Austin, Stubb’s sauce was bottled informally until the restaurant and music venue bearing his name in tribute, opened on Red River. With an outdoor amphitheater and an indoor nightclub, concert goers can chow down on great cue before the show – without losing their parking place! (801 Red River / Austin, Texas 78701 / 512.480.8341)

Iron Works: Downtowners and out-of-towners alike flock to this unassuming corrugated metal shack, lured by the aromatic smoke curling throughout the business district. The Iron Works was formerly just that – an iron working business, but in 1978 the building got a historic designation and the family began serving up BBQ. They also offer custom smoking of any meat you bring to them . (100 Red River / Austin, TX / 78701 / 512-478-4855)

Sam’s: This east side institution serves their delectable fare until late in the night, making it a favorite of the local musicians and music fans. The building might seem a little run-down, but make no mistake – this is some of the finest ‘cue in Texas. Sam’s is justifiably famous for its friendly service, musician-friendly hours, and an offering not found at many other Austin joints –melt-in-your-mouth mutton. (2000 E 12th St / Austin, TX 78702-1702 / (512) 478-0378)

Green Mesquite: Located just south of the river, along “Restaurant Row” on Barton Springs just adjacent to Zilker Park, this funky, charming spot is one of Austin’s favorite BBQ joints. Their meat combos are popular, and they offer other temptations like some of the best fried catfish in the area. The décor is purely South Austin – with neon, music posters, cushy booths and a checkerboard floor. Cold Shiner Bock on draft, bluegrass in their biergarten – this place is hard to beat. (1400 Barton Springs Rd / Austin, TX 78704 / (512) 479-0485

Lambert’s: A relative newcomer to the River City’s BBQ scene, Lambert’s Downtown Barbecue is one of the more upscale joints in town to dish out some well-made Texas food. Located in a renovated building in the burgeoning 2nd Street shopping and dining district, Lambert’s features live music, mostly jazz and DJs, in addition to grilled steaks, seafood, inventive sides, and of course, fine smoked meats. Beef and pork ribs, the ubiquitous brisket, and “fancy” surprises such as quail and trout emerge from their oak burning smoker. (401 W 2nd St. Austin, TX 78701)

Ki is a realtor working in the Austin Texas real estate market. His website provides a graphical search of the Austin MLS. He also runs a blog covering Austin real estate.
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Aug. 11, 2008 - Mortgage Interest Rates Keep Steady

Mortgage interest rates were virtually unchanged this week. The 30 Year rate stayed even at 6.52. The 15 year rate moved up a little from 6.07 to 6.10 and the 5 year arm moved down from 6.07 to 6.05. The only rate that moved much was the one year are which fell from 5.27 to 5.22. The one year Arm had the biggest fall last week as well. So in total for the last two weeks the 1 year arm has fallen from 5.49 to 5.22 while the other 3 major mortgage products have not fallen more than .11. Why the one year ARM is looking so good is another question. A high percent of the foreclosures the country is currently dealing with are from ARM based mortgages. So it seems odd to encourage ARMs when they are partially responsible with the current mess we are in. Of course the people in charge of the various mortgage companies didn't lose billions in shareholder wealth in just two years by making prudent decisions. So who knows what their current strategy is. Here are mortgage interest rates for the major mortgage products for the last few weeks.

August 7,2008
30-yr 6.52 15-yr 6.10 5-yr ARM 6.05 1-yr ARM 5.22

July 31,2008
30-yr 6.52 15-yr 6.07 5-yr ARM 6.07 1-yr ARM 5.27

July 24,2008
30-yr 6.63 15-yr 6.18 5-yr ARM 6.16 1-yr ARM 5.49

July 17,2008
30-yr 6.26 15-yr 5.78 5-yr ARM 5.80 1-yr ARM 5.10

July 10,2008
30-yr 6.37 15-yr 5.91 5-yr ARM 5.82 1-yr ARM 5.17


As always what do all these crazy numbers mean. To put these numbers in perspective lets see what these rates translate into for a mortgage on a 200k house.

August 7th
30-yr $1266.76
15-yr $1698.53
5-yr ARM $1205.53
1-yr ARM $1100.69

July 31th
30-yr $1266.76
15-yr $1695.28
5-yr ARM $1208.11
1-yr ARM $1106.88

July 24th
30-yr $1281.28
15-yr $1707.22
5-yr ARM $1219.75
1-yr ARM $1134.32


On the one hand I am usually pretty against ARMs. But a difference of 166.07 a month is pretty hard to ignore. If you are thinking of getting a 1 Year ARM this my advice. 1) Make sure you have 12 months of mortgage payments in a liquid account. 2) Watch the rates over the next year and wait for rates to come down a bit. If they don't come down and instead come up make sure you can afford to refinance at a higher rate. 3) this should be obvious from point one and two but if you are getting a 1 Year Arm dont get anywhere near your maximum loan amount. So if you are approved for a 300k loan it might be ok to get a 1 Year ARM if you are buying a house that is 150k-200k. If you are approved for a 300k loan and get a house for 280k get a 30 Year loan its simply not worth the risk. With an ARM your mortgage rate will simply start to flucuate after a year unlike a balloon where you are forced to refinance.

Escapeso Realty is a small brokerage in Austin Texas. Their site provides updated graphs on mortgage interest rates. They provide a free mortgage calculator along with a mortgage rates widget

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Aug. 6, 2008 - Austin Originals: Kerby Lane Cafe

Austin is full of originals from people to music to landmarks, this town has a personality all its own. Some things are bound to come and go. With any growing city, turnover is common in business (particularly locally-owned and operated establishments), but some businesses manage not only to survive, they thrive. Kerby Lane Cafe is one of these Austin originals that has beaten the odds and firmly established itself as a culinary landmark in the Live Music Capitol of the World.

No matter what time of day you find yourself hungry in Austin, Texas, you can find a healthy, delicious meal at the Kerby Lane Cafe. Founded in 1980 by a pair of Austinites dedicated to fresh food and affordable prices, Kerby Lane Cafe has come to be a true Austin staple, catering to patrons from all walks of life. The 24-hours-a-day, 7-days-a-week schedule and reasonable prices are sure to draw in the late-night college crowd from local Universities in Austin, but you'll find a full house most any time of day or night at any of the restaurant's four locations around Austin.

What makes Kerby Lane Cafe such a popular spot? With literally hundreds of unique, affordable dining options around Austin, what is it about Kerby Lane Cafe that keeps people coming back again and again? For one, it offers affordable fare. With entrees ranging from $7-$13, Kerby Lane Cafe makes it easy to eat well, without overspending. For another thing, the restaurant's commitment to using produce and products produced locally helps promote other local businesses which is a big plus to many Austinites. Their green approach to business and extensive community involvement are also big selling points for many local regulars.

But the most convincing reason has to be the food. From award winning pancakes (you can even buy their pancake mix online or in local grocery stores around town) and creative seasonal menus to delicious pastas and satisfying sandwiches, Kerby Lane Cafe truly offers something for everyone. Whether you're vegetarian, vegan, or a regular old carnivore, Kerby Lane Cafe aims to please. Texas staples like queso (melted cheese dip) and chicken tortilla soup come together with homemade red pepper hummus, middle-eastern inspired salads, fresh fish dishes and many more unique offerings to create an eclectic menu full of flavor and personality. The 24-hour breakfast menu is a sure bet, with delicious Texas staples like migas and biscuits and gravy, and French toast made with thick-cut Texas toast.

Kerby Lane Cafe is well known for its originals, too sweet potato fries, gingerbread pancakes and their signature hippy burger are all local favorites. Plus, their creative seasonal menus keep things changing, bringing the freshest, best produce and products of the season directly to the table. The full bakery on-site churns out cobblers, cheesecakes and other delicious desserts daily from old fashioned gingerbread to silken mocha tofu cake further increasing the restaurant's versatility and appeal. No matter what you're craving, and no matter when you're craving it, Kerby Lane Cake is sure to satisfy.

Ki lives and works in Austin as a realtor. His site provides information on the Austin market with a free search of the Austin MLS and a blog filled with Austin real estate statistics. He also provides updated mortgage graphs for potential borrowers.
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Aug. 6, 2008 - How to Avoid Pain at the Pump

Rising gas prices along with general increases in cost of living across the board are forcing many people to tighten their budgets and cut excess spending. In order to maintain a certain standard of living, people everywhere are looking for new ways to stretch their paychecks and make ends meet. While most people cannot realistically cut the cost of gasoline from their budgets, millions are finding ways to creatively cut back on fuel costs. Here are just a few ways you can help minimize your gas usage and save a few pennies at the pump.

1. Ride a bike
Studies have found that the average car trip is less than three miles. In most areas, this distance cane be covered on a bicycle without any trouble in fact, many urban areas are seeing a sharp increase in bicycle commuters. While a bike is not the most practical mode of transportation for every situation dropping the kids off at piano lessons, for example (unless everyone can ride their bikes, and you don't mind waiting until they finish to ride back home together) you might be surprised at just how efficient it can be. A trip to the grocery store is infinitely manageable, though you'll likely have to go more often and buy fewer items each time (bikes, sadly, lack trunk space). But think of the exercise you'll get, and the money you'll save on gas plus, you'd be hard-pressed not to find parking.

2. Take public transportation
Many areas offer reliable public transportation at a fraction of the cost of a tank of gas. While this type of transportation may be a bit less comfortable than driving yourself, and will likely take longer, think of the benefits no stress of maneuvering through traffic, no added pollution (on your part, anyway), more time to read or listen to music (that you would otherwise spend driving), and a significant drop in your transportation spending.

3. Drive smarter
If and when you do drive, limit gas expenditure by driving the speed limit and staying with the flow of the other cars on the road especially in traffic. Stopping and starting again and again quickly burns up gasoline. So does speeding. Also, whenever possible, consolidate your errands. Sit down and map out your errands for the week (or month) and schedule them to get as many done at once as possible. This will help you save both time and money. You'll also be less likely to buy things impulsively if you have a full schedule of errands to run (also a money-saver). There are other, smaller things you can do, too. Always remove unnecessary items from your car (particularly the trunk), as the added weight can minimize your fuel efficiency and burn gas faster. Don't fill your gas tank during the heat of the day, because you'll actually get less gasoline for your money than if you fill the tank in the morning or evening, when the gas is cooler and more dense (this won't save you a lot of money on the spot, but over time those pennies add up). Skip trips that you don't really need to make, like going out for no particular reason there are plenty of ways to entertain yourself that don't waste gas.

The bottom line is, even little everyday things can have a big impact on your fuel usage and spending over time, so carefully consider your options and think before you drive your budget will thank you for it.

Ki works as a real estate agent in Austin. His site provides information about Austin real estate along with a free search of Austin MLS. He also provides monthly statistical updates on his Austin real estate blog.
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