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December 2008

Dec. 31, 2008 - Is It Better To Rent Or Buy In The Current Economy?

Historically speaking, the answer to the rent or buy question is that usually it's smarter to buy a house. These are not usual times. The true answer to that question, of course, depends on the individual situation. There are some factors to consider when making this important decision.

Some of the normal reasons to choose renting over buying a home include plans to relocate in the next couple of years or a low rent payment. But in the current economy, renting could make sense for a number of reasons. Renting gives financial flexibility, allowing people to save or invest. Other than deposits and the monthly rental payments, there is no large initial outlay of money. There are no maintenance costs and time does not need to be set aside for upkeep.

It is important to consider the costs inherent to buying a home, such as down payments, closing costs, interest, insurance, and upkeep. Suze Orman, a financial analyst for CNBC, points out that the American dream of home ownership can turn into a nightmare for those buyers that get in over their heads. The wave of foreclosures across the nation can attest to that reality.

The pitfalls of home ownership now include buying a home that may lose value, as well as the difficulty of getting a loan in the first place. According to the National Association of Realtors, existing home sales fell 8.6 percent in November. The median sales price fell 13.2 percent in November to $181,300, from $208,000 a year ago. That was the lowest national median price since February 2004. Which could mean it's a great time to buy, or it could mean home values will continue to fall.

Home ownership is more than about just a place to live, it is an investment. The portion of your monthly payment that goes toward principle ideally raises the equity in your home each month. These days the return on the investment all has to do with long-term plans and the economic outlook. But look at it this way, the rent money goes totally into someone else's pocket each month. There is a strong possibility that your home value will increase with time, especially if you plan to stay put for a number of years.

There are other benefits to buying a home, such as knowing your exact payment for the next 15 to 30 years, which can help with planning and budgets. Rent payments are likely to increase on an annual basis. There is also the potential to pay off the loan and have no monthly mortgage payment. There are the intangible benefits to consider as well, like pride in ownership and belonging to a community through being part of a neighborhood.

There is certainly no reason to rush into buying a home. In these uncertain economic times there may be good reason to be cautious. But there are also good reasons to be a buyer, such as historically low interest rates and lower home prices. Bankrate.com has a good calculator that can help crunch the numbers. If renting is what ends up being the best option, be sure to invest and save each month as well.


Ki's real estate business is based in Austin, Texas. His website provides future home buyers with a free search of the Austin MLS. It gives comprehensive information on Austin real estate a few free mortgage calculators for visitors.
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Dec. 31, 2008 - Central Texas Profiles: Texas Caverns

Cascade Caverns is the only cavern in Texas that has a 100 foot underground waterfall, and it is in our own back yard! Located in the hill country, in a little town named Boerne, take exit #543 off of Interstate Highway 10 to Cascade Caverns Road, just minutes from San Antonio.

This cavern is an amazing place to visit. The cavern is about 140 feet deep and a half mile long. On the amazing hour long tour visitors will see amazing rooms, rock formations, and glistening water dropping from the ceiling of the cave. The cave even has a rain forest!

The caverns are open daily and the temperature in the cavern is a cool 68 degrees year round! The cavern is a part of a 105 acre park full of wildlife and beautiful sites. The park is equipped with bar-b-que pits and tables. Bring the family and make a day out of it.

You can reach the cavern by calling them a 830-755-8080 for more information.

Long Horn Cavern State Park

Located in Burnet Texas, this cavern is an awesome site and a beautiful place to visit. Long Horn cavern is one of the few caverns that were formed by rivers. There are tours available daily for the cavern. The tour takes visitors into the caves to see all the wonders that the river carved out. There are various rocks and other strange formations to see.

There are also special tours available and are by reservations only, and are recommended for the serious spelunkers only. There are requirements for this tour. You can contact them at 512-756-4680 for more information and hours and rates.

The Caverns of Sonora

This cavern is a little further away from Austin, but is definitely worth the drive. The caverns are located in Sonora, which is located on Interstate 10, about half way between San Antonio and Big Bend National Park.

There are tours available as well as specialized tours for the more adventurous cave goers.

They also have underground classroom tours, where visitors get to see first hand how to dig for fossils and other interesting topics.

Visitors can also pan for gems such as fossils, emeralds, and the best part is that each panning bag is guaranteed to have some type of specimens inside, you can't lose!

For more information on the caverns and for rates and availability on the tours, give them a call at 325-387-3105.

Texas is filled with some of the most spectacular caves and caverns. As summer approaches and the temperatures begin to soar, we want to find some sort of vacation spot that is cool and fun. The caves and caverns of Texas could be the next vacation you and your family take. There is always something to discover and see. There have been approximately 130 caves discovered in this area, and possibly many more that have not been discovered.

Ki lives, and works, in Austin, Texas. His site provides potential homebuyers a free search of the Austin MLS. He also provides detailed information about Austin real estate and a mortgage rates chart.
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Dec. 31, 2008 - Austin Neighborhood Profiles : Tarrytown

One of Austin's most elite neighborhoods lies just west of Mopac, in the heart of Austin. Bordered by Lake Austin to the west, Mopac to the east, Lake Austin Boulevard to the south and 35th street to the north, the Tarrytown neighborhood holds some of the most desirable homes in the Austin real estate. Tarrytown has a more eclectic mix of homes than the prestigious Pemberton Heights directly across Mopac. They range from small cottages to grand estates, with a mix of mid century modern homes and brand new modern dwellings. The one uniting factor in the area is the perfectly kept landscaping and impeccable yards, and giant shade trees that cover the entire neighborhood. Tarrytown is very family oriented, possibly because of the exemplary school accountability rating Casis Elementary receives year after year.

Tarrytown is often recognized for the actual neighbors inhabiting the neighborhood. It's from this area Matthew McConaughey's famous bongo playing took place. Lance Armstrong, George W. Bush, Rick Perry and an assorted number of politicos have inhabited Tarrytown through recent years. River Oaks Farms at 2105 Scenic Drive, was built in 1906 by Judge Robert Lynn Batts, a law professor at UT (and after which Batts Hall is named on the campus).

The beautiful walled estate borders Lake Austin, and has 3 cottages on the land that have been rented out to many TV and film stars during shoots in Austin, such as Luke Wilson. Jim Eno, drummer for local-turned-nationally popular band Spoon, has converted his garage on Bowman Avenue into a top notch recording studio called Public Hi-Fi, where Spoon now records their albums.

There are a slew of local eateries in Tarrytown, with many located on Lake Austin Boulevard, such as the Hula Hut, Magnolia Cafe, and the Kitchen Door. In 2003, the popular hamburger restaurant Holiday House, located in the Tarrytown Courtyard on Exposition, was forced to move elsewhere when the owner of the shopping center, a member of PETA, banned meat from being sold. Nu Age Cafe moved in, selling all vegetarian dishes, but also recently closed. However, further down Exposition, the Tarrytown Farmer's Market runs every Saturday morning.

Lauren Tolley, owner of Talulah Bleu Tarrytown Florist, also runs the farmer's market. Tolley took over the Tarrytown Florist from the R.A. Lewis family who started owned the business since 1946. She also inherited the oldest nursery/agricultural license in the state, which was granted to R.A. Lewis's father around the turn of the century. There is a plot of wooded land behind the florist where Tolley hosts the Tarrytown Farmer's Market each Saturday from 9am until 1pm. Vendors vary from organic fruit and vegetable merchants to those selling vintage belt buckles, candles, and hand-stitched clothing.

At the north end of Tarrytown lies the beautiful Mayfield Nature Preserve and the Laguna Gloria Museum. Though the park itself is only 22 acres, it's peaceful, serene and chocked full of walking trails, gardens, stone walls and peacocks which hover around the 1870s cottage located in the park (which can also be rented out for special occasions). The Laguna Gloria art museum is an indoor/outdoor venue with a stretch along the Lake Austin shoreline. There are gigantic works of art along the shoreline, and more to see inside the 1916 Mediterranean-style villa built by Clara Driscoll in 1916.

One of the more pristine neighborhoods in the city, movers and shakers of Austin can always be found in Tarrytown, right next door to families-of-four, and musicians as well.



There is comprehensive information on Austin real estate on Ki's website. He lives and works in Austin Texas. His website also has search of the Austin MLS and information and statistics on central Austin real estate
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Dec. 27, 2008 - Profiles in Urban Redevelopment : Mueller Austin

What once was an airport is now an inner city place to live and work. The Robert Mueller airport opened for business in 1936. It served Austin and surrounding cities for 63 years before being closed down.

With Austin continuously growing, it was only logical to develop Mueller into something the community could use to its advantage. In 2002, the city began its Mueller Master Development Agreement, turning this open land into a retail and residential masterpiece.

The city has developed this land into a affordable place to live and work. The Mueller community was inspired by other Austin neighborhoods that are traditional but yet energy efficient. The developers designed the community so that each and every home owner has their private areas. Big front porches, nice yards with lots of garden space or whatever the resident is looking for, Mueller has something for everyone.

Mueller has made is easy for people to live in the community by offering affordable homes and apartments. Whether you are looking to purchase your home or just rent. With the climbing prices of homes, there is something for everyone.

Mueller has something else that not many new communities in the Austin real estate market offer, affordable homes. Within the years of 2008-2009 Mueller will build approximately 200 affordable Austin homes. The homes will be marketed to families who are at or below 80% of Austin median family income (MFI). For rentals, the percentage falls to 60% MFI. For more information on MFI or to see the price ranges of these affordable homes, visit Mueller's website.

If residents are worried about their affordable home looking different from other homes, no need to worry. All homes are built and designed in accordance to Mueller's guidelines.

The community also has a unique park system, with about 140 acres of parks, trails and open space. Residents can enjoy everything from 5 miles of hike and bike trails to a 6.5 acre lake and out door performance venue.

Residents can have piece of mind with the Dell's Children's Medical Center nearby. Along with a shopping center which includes many retail stores, such as Lane Bryant, Marshall's and Old Navy, Bed Bath & Beyond and many more. There is something for Mueller residents and residents of surrounding communities.

With Mueller's location just three miles from downtown Austin, and only two miles from The University Of Texas campus, it makes choosing Mueller an easy decision. Mueller is also accessible to public transportation, whether it is by bus route or a taxi. You can also visit Mueller Central at 4550 Mueller BLVD.

Mueller offers an example of how to redevelop real estate in the central city in a way that can be beneficial for all residents. Not only does Mueller offer affordable options it also combines the concept of live work in a way that lowers traffic and offers parks and trails for residents in surrounding cities. Hopefully Mueller can be used as an example for other cities when they look at plans for central properties.

Ki's website brings a free search of Austin homes to future homebuyers. Additionally, there is detailed information about Austin real estate and the upcoming Mueller Development in downtown Austin. He works, and lives, in Austin, Texas.
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Dec. 27, 2008 - Mortgage Rates Drop To New Lows

Mortgage Rates fell again this week. This is the ninth week in a row were rates have fallen. Last week mortgage rates were already at 50 year lows. The 30 Year mortgage rate fell from 5.19 to 5.14. This is not a huge fall. The significant point this week is that they basically stayed down at historically low levels. Here are the lowest points mortgage rates have seen for the last 30 years. 1) December 2008 5.14 2) June 2003 5.23 3) March 2004 5.45 4) May 2003 5.48 Although rates are lower than they were in 2003 and 2004 the mortgage market today is trickier. In 2003 and 2004 virtually anyone could get a decent rate. Today banks are looking closely at credit scores. In addition banks have almost no interest in giving out loans to people wanting to purchase multifamily properties. Below are rates for the last few weeks. December 24, 2008 30-yr 5.14 15-yr 4.91 5-yr ARM 5.49 1-yr ARM 4.95 December 18, 2008 30-yr 5.19 15-yr 4.92 5-yr ARM 5.60 1-yr ARM 4.94 December 11, 2008 30-yr 5.47 15-yr 5.20 5-yr ARM 5.82 1-yr ARM 5.09 December 4, 2008 30-yr 5.53 15-yr 5.33 5-yr ARM 5.77 1-yr ARM 5.02 November 26, 2008 30-yr 5.97 15-yr 5.74 5-yr ARM 5.86 1-yr ARM 5.18 While the 30 year rate and the 15 year rates have fallen we have not seen nearly as much movement in the 5 and 1 year ARM. So in addition to mortgage rates it's interesting to look at what the actual payments would be on a loan. Using our free mortgage calculator we ran the numbers on today's rates for a 200k loan. We also ran the numbers for last weeks rates and rates from October 30th. The reason we choose October 30th was because that was when we began the 9 weeks of falling rates. December 24th 30-yr $1090.82 15-yr $1572.22 5-yr ARM $1134.32 1-yr ARM $1067.53 December 18th 30-yr $1096.98 15-yr $1573.26 5-yr ARM $1148.15 1-yr ARM $1066.32 October 30th 30-yr $1258.87 15-yr $1708.31 5-yr ARM $1245.77 1-yr ARM $1120.56 Compared to last week the payment for a 30 year loan only fell a few dollars going from 1096.98 to 1090.98. On the other hand if we look back to October 30th the payment has fallen from $1258.87 to $1090.82. This is a drop of about 13.4 percent. If we also consider that prices in most areas have fallen over the same period of time this is pretty substantial savings. There is still no reason to look at Arms. The 5 year ARM still has rates above the 30 year mortgage which makes this product basically pointless. The 1 Year Arm is lower than the 30 Year rate but it's basically pointless for 2 reasons. First the difference is pretty small this week it was only .19 points. Second since 30 year rates are historical lows the small savings hardly seem worth losing the chance to lock in at historical lows. So what is going to happen with rates moving forward? I think rates are going to hold even or fall a little more over the next month. After that expectations are that rates are going to increase slightly. Once the economy recovers the massive amounts of money the Fed have pushed into the economy should lead to inflation which could push mortgage rates up to 12 or 13 percent. All that is to say over the next few months we might see the lowest rates we are going to see for the next few decades.
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Dec. 27, 2008 - Simple Ideas for Holiday Decorating and Gifts

Here are some simple ideas for decorating and gifts that should help you glide into an enjoyable holiday.

Effortless touches can look extravagant without much fuss. Tea lights put into clean jars and bottles with colorful ribbon tied around the top can make a lovely and inexpensive table centerpiece or mantle piece. Add a festive touch to the dining room with colorful balls hanging from ribbon on the chandelier. Or place glass ornaments in a bowl for a quick splash of color in any room.

Look outside for interesting bits of branches with dried berries or an array of little acorns. Make it a scavenger hunt with the kids for an entertaining afternoon. Then spray paint your finds with gold and silver and intersperse them with greenery for an eye-catching mantle display.
Have fun adding to a collection you may not have realized you had of holiday decorations. Group together Santas, snowmen or angels to liven up the corner of a room; once you get started gathering you may be surprised by how many you have. Also, adding to someone else's holiday collection can make a thoughtful gift.

Take some flower pots and spray paint them green, red, gold and silver. For an added touch, stencil on a tree or holly leaves. Then put fresh plants like poinsettias or amaryllis for a welcoming holiday display by the front door. It would also make a lovely hostess gift.
A fun family project could be baking sugar cookies to decorate and hang on a wreath or put into bags decorated with holiday stickers to give to friends and family.

Don't despair if you are still racking your brain for a few last minute gifts. Try these effortless ideas:

Go green with reusable glass water bottles in bright colors or give a subscription to a junk mail reduction service. Charitable donations are thoughtful, eco-friendly gifts that give twice.

For a super quick way to shop try giftzip, a clearinghouse of sorts for gift cards from hundreds of retailers. It is a free service and can save shoppers the effort of going to multiple locations to pick up the cards. It can also be a good way of getting ideas as you browse the handy categories, like kids, tech and gourmet. Put the cards in small gift bags filled with candy.

Gift baskets can be easy and relatively inexpensive gifts. A collection of pasta and gourmet sauces or chips and unusual salsas in a basket with pretty tea towel make a nice present; walk through a bookstore and pick an assortment of books to put into a vivid fabric book bag; or for the relative with a green thumb pick up seed packets, gardening tools and a new pair of work gloves to put in a flower pot. Homemade gift cards tied with fabric ribbon are also a nice touch.

Disposable cameras and little photo albums make fantastic stocking stuffers for kids and teens. Let them have fun catching the festivities of Christmas day and then put the pictures in the album after they are developed for an amusing look back on a special day.


Ki has lived and worked in Austin, Texas for over 10 years. He has a comprehensive understanding of Austin real estate and Steiner real estate. His website offers a free search of the Austin MLS.
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Dec. 21, 2008 - Mortgage Rates Drop To 50 Year Lows

Mortgage rates are down to rates we have no seen in 50 years. Since the early 1970s when we have good data for mortgage rates these are the lowest rates we have seen.

1) December 2008 5.19
2) June 2003 5.23
3) March 2004 5.45
4) May 2003 5.48

Before this rates were at current levels in the late 1950s. Here are rates for the last few weeks.

December 18, 2008
30-yr 5.19 15-yr 4.92 5-yr ARM 5.60 1-yr ARM 4.94

December 11, 2008
30-yr 5.47 15-yr 5.20 5-yr ARM 5.82 1-yr ARM 5.09

December 4, 2008
30-yr 5.53 15-yr 5.33 5-yr ARM 5.77 1-yr ARM 5.02

November 26, 2008
30-yr 5.97 15-yr 5.74 5-yr ARM 5.86 1-yr ARM 5.18

November 20, 2008
30-yr 6.04 15-yr 5.73 5-yr ARM 5.87 1-yr ARM 5.29

A few things to point out, first Arms are still basically pointless. The 5 Year Arm is at 5.6 which is well above the 5.19 offered for a 30 year rate. With 1 Year Arms (at 4.94) and 15 year fixed (at 4.92) offering little savings the 30 year mortgage is pretty much king. There is almost no reason in this market to consider other mortgage products.

I want to be clear about a few things. First although rates are low they are not universally available. In 2002/2003 when rates where low they were available to everyone and they were available for people interested in single family homes as well as investors. Today low interest rates are pretty much only available to people that want to buy single family homes to live in. Investors who plan to rent out properties will receive much high rates. Also loans are really only available to people that can document their income. The limited availability of current rates is one of the reasons that the low rates are not doing more to help the current problems in the market.

So in addition to looking at rates lets look at actual payments. Using our mortgage calculator widget lets take today's rates and translate them into a payment on a 200k loan. To add some perspective we did the same thing using mortgage rates from a week ago and rates from the end of October.

December 18th
30-yr $1096.98
15-yr $1573.26
5-yr ARM $1148.15
1-yr ARM $1066.32

December 11th
30-yr $1131.81
15-yr $1602.50
5-yr ARM $1176.05
1-yr ARM $1084.67

October 30th
30-yr $1258.87
15-yr $1708.31
5-yr ARM $1245.77
1-yr ARM $1120.56

Looking at October 30th we see pretty substantial savings. For a 200k loan the payment would be $161.89 less a month or 14.7 percent less. Arms and 15 year rates are down as well but in the current market these products are pretty much pointless. Basically it's not worth saving a few dollars a month to get a 1 Year ARM and not getting a 30 year rate at historical lows.

So what are rates going to do moving forward? There is talk of the FED having a 4.5% mortgage for new home buyers. It's hard to know if this will end up happening. My advice for people thinking of refinancing is to do so now. Most of the talk I have seen is the 4.5% rate will only apply to new purchases and will not be available for people looking to refinance.

For new buyers it's a little tougher. Personally I think it's not worth it to wait and risk rates jumping up. If rates were at 5.7 it might be worth it to wait for the 4.5 rate. Bu with people getting mortgages near 5 I don't think it's worth it to wait for the government to pass legislation. Partly because even if the legislation is passed the 4.5 rate could have several strings attached.

So what is going to happen with rates next week? I don't know if they are going to go up or down but I think there is still a lot of volatility in the market. So I would not be surprised by a large jump up or down with rates similar to what we have been seeing for the last several weeks.

Ki writes regularly about the real estate market. His site has a search of the Austin MLS as well as a mortgage rates widget and mortgage calculator html for webmasters.
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Dec. 21, 2008 - Obama's Public Works Project

The economic news continues to herald even more horrible times up ahead. If only January were here, already! If President-elect Barack Obama manages to pull off the public works improvements he is proposing, maybe blue skies are on the horizon.

On January 6, Obama laid out his expansive plan to revive the economy through a job-creating public works project on a scale not seen since the building of the interstate highway system in the 1950s. According to the plan, millions of jobs will be created across a wide range of sectors, from construction jobs working on the improvement of the highways, to high tech jobs working on expanding broadband Internet access and improving the IT infrastructure at healthcare facilities. The expansion of broadband was on the slate during the Clinton administration, but the effort never came to fruition. And hospitals and doctors' offices have been making do on antiquated systems running ancient applications for decades.

The plan also includes details about green-job programs and energy efficiency improvements in the efforts to both address global warming and stimulate the economy. The program would include weatherizing homes, installing monitors in homes to monitor and reduce energy use, and upgrading federal buildings to enhance their efficiency. It would also include tax breaks and subsidies to encourage clean energy projects like wind farms, solar, biofuels, and technology for capturing carbon dioxide emitted by power plants.

This initial plan looks smart, progressive, and frankly pretty exciting. But will it work? Just a month ago, in the weeks prior to the election, John McCain was arguing that the economic crisis could only be resolved by putting a freeze on federal spending. Since that time, however, economists such as Robert Pollin, writing for The Nation, spelled out a different plan. He argues that money must be spent by the federal government in order to maximize the number of jobs created, to increase the long-term productivity of the economy, and to reduce our collective carbon emissions.

But the deepening economic crisis is pushing the working poor into complete destitution, and how will this stimulus proposal help them? Looking at statistics from 2007, more than 37 million Americans live in poverty, meaning they earn less than $21,200 a year for a family of four. And unemployment is on the rise, and with it food stamp usage and the demand for social service agencies and shelters. The USDA's annual report on food security reported that almost one in eight Americans were "food insecure," meaning that they have trouble getting enough food as a result of a lack of resources.

Preventing the human suffering brought on by the recession will have to be yet another item on the long list of must-haves in the Obama proposal. Bolstering food stamp funds, rental assistance, and extending unemployment benefits will be critical to stabilizing distressed households. And the effect of this should likewise provide a boost to the economy. Focusing the economic policy on only the middle class won't be enough as the economy continues to deteriorate and more and more of the middle class falls into poverty.



Escapeso Realty works with buyers in the Austin real estate market. Their site has a search of the Austin MLS. They also provided general information about the the dripping springs real estate market and the Austin real estate market.
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Dec. 21, 2008 - The Town of Lakeway on Lake Travis

Lakeway is the name of a scenic lakeside community in western Travis County, and it is a wonderful place to live. Lakeway is a reasonably new city, and the city was formed around the original Lakeway Inn, a 48 room hotel built in July of 1962. Honored guests at the grand opening celebration were Lady Bird Johnson and former Governor John Connally, and the hotel opened in July of 1963..

Lakeway has a total area of 6.1 miles, and in the 2000 census the population of Lakeway was reported to be 8002 residents. At the time of the census, there were 3,124 households and 2,496 families, and the population density was considered to be 1379 people per square mile. The city is largely White, with 96% of residents reporting Caucasian ancestry, and along with a 4 % Hispanic population, there are a few other ethnicities as well. The elevation of Lakeway is roughly 823 feet, and the average household size in the community is 2.52 people. The median household income in the small city is about $86,000, so Lakeway is a reasonably affluent community as well.

Students in Lakeway attend Lake Travis School district schools, including an elementary school, middle school, and high school. There were 3,501 housing units during the census of 2000, and Lakeway is sixteen miles west of Austin. The area of Lakeway includes 0.3 square miles of water, which are the waters of Lake Travis.

There are numerous luxury homes in Lakeway, as well as moderately priced homes and other housing options. Since its construction in the 1960s, Lakeway Inn has expanded to become a world-class resort, and now includes the Lakeway Resort and Spa and the World of Tennis. 71% of the families in Lakeway include married couples, and around 34% have children under the age of eighteen living at home. At one point, Lakeway was considered a home for snowbirds, or people who primarily lived there in the mild weathered-months, but now it is a year-round home for many, with award winning schools, restaurants, lodging and many other attractions.

Lake Travis itself is over 25 miles long, and offers boating, fishing, skiing, jet skiing, swimming, and many other water-related activities, and most of the homes have lake access or lake, or beautiful hill country views. There are also many other nice resorts, plus bed and breakfast inns and R.V. parks, marinas, campgrounds, and inexpensive motels and cabins for visitors. There are also two golf courses, Live Oak and Yaupon, and both are members of Clubcorps and run by the company as well. There is a small airport in the area too, and the small city is accessible via highway 71 West and Ranch Road 620 from southern Travis County, and Highway 183 to 1431, then to R.R. 620, from northern Travis County, along with another option, Ranch Road 2222 to 620 from northwest Austin.

There is an art gallery, a fire department and police department in Lakeway, and numerous shopping plazas and boutiques, as well as snack shops, convenience stores and the like. The city government is the mayor-council form of administration, and there is a city hall, library, and chamber of commerce in Lakeway. Since Lakeway has many winding roads, trees, and foliage, deer are very abundant in the community, and drivers must use caution when traveling at night to avoid accidents with the deer and other small forms of wildlife.

All and all, Lakeway is a great place to visit or to raise a family or retire, and all of the amenities of a big city can be found, along with the peace and tranquility of rural life, and since choices of habitation and lodging are so plentiful, the town is a great place to consider when coming to Austin!


Ki is a realtor working in the Austin real estate market. His website provides a search of the Austin MLS along with statistics on the Lakeway real estate market.
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Dec. 16, 2008 - Mortgage Rates Drop Again to Near Record Lows

Last week 30 year rates were at 5.53. At that point those were the 5th lowest rates we have seen in the last 30 years. This week we saw rates drop again to 5.47. Now rates are third lowest we have seen in the last 30 years. Below are the dates and mortgage rates. Below are the four lowest rates and their dates.

1) June 2003 5.23
2) March 2004 5.45
3) December 2008 5.47
4) May 2003 5.48

So most of the other low rates were during 2003 and 2004, which were historic lows. One difference between now and then is that the current rates are only available to owner occupy single family borrowers. Banks are not interested in loaning money to investors. I talked to a loan officer this morning. The rate for an owner occupy single family loan was 5.125. On the other hand the rate for an investor (non owner occupy) single family loan was 6.5. Basically while banks are offering historically low rates to individuals they don't want to deal with investors. This is because most of the current foreclosures are with investors who own multiple properties. Below are mortgage rates for the last few weeks. These are all for single family owner occupy loans.

December 11, 2008
30-yr 5.47 15-yr 5.20 5-yr ARM 5.82 1-yr ARM 5.09

December 4, 2008
30-yr 5.53 15-yr 5.33 5-yr ARM 5.77 1-yr ARM 5.02

November 26, 2008
30-yr 5.97 15-yr 5.74 5-yr ARM 5.86 1-yr ARM 5.18

November 20, 2008
30-yr 6.04 15-yr 5.73 5-yr ARM 5.87 1-yr ARM 5.29

November 13, 2008
30-yr 6.14 15-yr 5.81 5-yr ARM 5.98 1-yr ARM 5.33

November 6, 2008
30-yr 6.20 15-yr 5.88 5-yr ARM 6.19 1-yr ARM 5.25

October 30, 2008
30-yr 6.46 15-yr 6.19 5-yr ARM 6.36 1-yr ARM 5.38

For 30 Year rates since October 30th rates have come down almost a full point. With 5 Year mortgage rates above 30 year rates they continue to be basically pointless. With 15 years only slightly below 30 year rates at this time it probably makes sense to get a 30 year rate and overpay. In addition, with 1 year rates only half a point below 30 year rates, at this point in time 30 year rates are pretty much king. In addition to mortgage rates it's always interesting to look at what an actual mortgage payment would be. We used our mortgage calculator to translate today's rates into a mortgage payment on a 200k loan. We also did the same thing using rates from last week and the rates on October 30th.

December 11th
30-yr $1131.81
15-yr $1602.50
5-yr ARM $1176.05
1-yr ARM $1084.67

December 4th
30-yr $1139.34
15-yr $1616.18
5-yr ARM $1169.68
1-yr ARM $1076.08

October 30th
30-yr $1258.87
15-yr $1708.31
5-yr ARM $1245.77
1-yr ARM $1120.56

Looking at 30 year rates compared to October 30th a mortgage payment on a 200k loan has come down $127.06 a month or 10.1 percent. Again looking back to October 30th a mortgage payment using a 15 year mortgage has come down 6.2 percent, a payment using a 5 year arm has come down 5.6% and a mortgage using a 1 year loan has come down 3.2%.

So what is my advice? Unfortunately most investors are not going to get a benefit from refinancing. It's very difficult for investors to get loans and if they do they will receive pretty high rates. On the other hand the prospect for individuals is pretty positive. Rates are currently at all time lows. There is a possibility of the government passing a bill that will create 4.5 rates. From what I have heard this is not going to affect people looking to refinance. For people that are buying it's a little bit hard to decide if they should wait for the 4.5 rate. On the one hand I think if 4.5 interest loans are available we will surge a surge in real estate activity. This basically means it will be harder to get a good deal because their will be more buyers to compete with. On the other hand getting a home 4.5 percent interest rate has obvious benefits as far as lower payments.

Ki is a real estate broker in Austin. His site provides updated information on mortgage rates along with a graphical search of the Austin MLS. His site also has a free mortgage calculator.
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Dec. 16, 2008 - The Lake Travis Community of Jonestown

Jonestown is a small community on the north shore of Lake Travis where inhabitants can enjoy all of the advantages of small town living but still be a short drive from a large metropolitan area such as Austin. Jonestown also offers some of the most breathtaking scenery in the Hill Country as well as access to Lake Travis and its many natural wonders. Jonestown is located on Highway 1431 twenty miles north of Austin, and is nine miles west of the intersection of U.S. 183 and 1431. The community was settled in the late 1930s by the Jones brothers, Warren and Emmett, when they built the first commercial structure, around 1940. The community was first settled as a village of mostly fishermen and boaters, but when Mansfield Dam was raised in height and Lake Travis filled, the small city began attracting resort dwellers and became a haven for more affluent residents who commuted to Austin after building large homes on estate lots, most with lake access or views.

In 1982, U.S. Highway 183 was widened and straightened, and the easy access to the communities around the lake spurred many new residents to settle. Jonestown was incorporated as a city in 1985, with a population of 683 in 1988, and rapidly grew to a population of 1681, which was the reported population in the 2000 census. At the present, the population is estimated to be over 2000 inhabitants, and many amenities of a larger metropolitan area have been created or built, including schools, churches, parks, and various other developments.

The city boasts two well developed parks, Veterans Park and Jones Brothers Park, and there are two less developed parks, Shady Park and Pecan Park, and two more parks are in the process of development at this time. Eventually, there will be six complete parks in Jonestown with nature trails, hike and bike trails, wildlife observation points, and various other features, including picnic sites, ball fields and courts, and playscapes. Jones Brothers Park is a thirty-two acre park, with miles of shoreline and three boat ramps for easy access to Lake Travis as well as two covered pavilions for lakeside activities. The boat access ramp fees and pavilion fees are very reasonable, and visitors to the park have a choice of purchasing either yearly launch access passes or pay a daily fee, which is currently $7.00 per vehicle or trailer. Both Jones Brothers Park and Veterans Park are open from dawn to midnight on a daily basis, and the sites are available first come first serve, unless reservations have been made in advance.

Veterans Park, which is located on 1431, has numerous picnic sites as well as a memorial to the men and women who have served our country in battle sculpted by Jonestown resident Jim Thomas, entitled "Going Home". The bronze statue of a young soldier on his way home from war offers a quiet, dignified place to reflect on the sacrifices made by these brave individuals under a canopy of stately oaks while appreciating the serenity and beauty of the lake and surrounding terrain.

The population of Jonestown is diverse, but primarily white, with about 87% of the residents being Caucasian or non-Hispanic. The remainder of the occupants are either Hispanic, a group which comprises about 9% of the local inhabitants, black, Asian-American, or Native American, with a smattering of other ethnicities as well. The median age in the community is about 37 years old, and the median family income is about $45,000, with median home values being about $114,000, which are all slightly higher than the average in Texas.

There is a community library in Jonestown on 1431, and the community holds a yearly festival on the shores of the lake called Lakefest, which is a popular event for residents and visitors alike. Jonestown is known for its peace and quiet as well as natural beauty, and with its proximity to Austin, it is an ideal location for water enthusiasts as well as those wanting to live a quiet, rural life yet have easy access to the attractions Austin has to offer, so consider Jonestown when visiting central Texas if you are interested in having it all!


Escapeso Realty works in the Austin Texas. Their site has a search for Austin homes. They also provide general information about Austin real estate and Jonestown real estate.
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Dec. 16, 2008 - State Parks at Christmas Time

Nothing can be more beautiful than Christmas at a state park, and there are plenty in and around the Austin area. Visiting a state park at Christmas time is a spectacular site. It's wide open space with lots of holiday lights and the fresh air of the great outdoors!

Bastrop State Park, just down the road in Bastrop, has a wonderful holiday display, "Christmas in the Pines." It takes place on December 14th and will host many fun things for the entire family, such as sugar cookie ornament decorating, clay ornament decorating and a visit to the lost pines couldn't be complete unless you decorate a pine cone! There will also be a story reading and lots of goodies to snack on while you're there. You can even make a pine needle basket if you wanted, and they smell so fresh. Santa is due to make an appearance from 3:30-5:30 and you can get a picture with him as well. All of this "Christmas in the Pines" will begin at 1:00 until 6:00 in the Refectory. The admission is $2.00 for adults and it's free for kiddos 12 and under. If this sounds like fun for your family, give them a call at 512-321-2101.

Beginning in December at Monument Hill & Kreische Brewery SHS, in La Grange, Texas, is "The Trail of Lights" display. It's a wonderful quarter mile display of thousands of lights. You can walk on a trail on Monument Hill, that over looks the town. It's a spectacular site! The kiddos can even see Santa and Mrs. Santa! Admission for "The Trail of Lights" is $3.00 for adults and $1.00 for the kiddos. It begins at 6:00pm and lasts until 8:00. You may want to give them a call for the dates; they have several nights to attend. 979-968-5658.

How about a trip to Lyndon B. Johnson State Park for their 39th Annual Tree Lighting, it's a beautiful site to see. This year they will be celebrating his 100th birthday. They will have many wonderful things this year, including carolers, Santa Clause, and even a live nativity scene! They will be serving refreshments for the visitors and there will be a spectacular tree lighting!

Visitors can also step back in time to the Sauer-Beckmann Living History farm for cookies and glowing lanterns and an old time German Christmas tree. It all happens on December 21st, and you may want to bring a flash light! Give them a call for more information at 830-644-2252.

Texas has many wonderful parks to visit and they do such a wonderful job bringing the Christmas spirit to everyone who visits. If you have never visited a state park at Christmas, it's a perfect time to introduce the parks to your family. You can find more information about state parks in the Austin area or anywhere in Texas by visiting the Texas Parks and Wildlife website. Who knows, it may become a whole new tradition in your family!


Ki is a real estate agent in the Austin real estate market. His website has a interactive search of the Austin MLS. His site also has statistics on Austin real estate and Bastrop real estate.
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Dec. 16, 2008 - The City of Leander, Texas

Leander is the name of one of the small communities in the northwestern area of central Texas near Lake Travis and the Highland Lakes. Leander was actually originally called Bagdad, and it was established on July 17th, 1882. The community was first established around 1845 after the original settlers were given land grants in exchange for their service in the Texas Revolution. Many of the original settlers lived in log cabins, and were subjected to Indian attacks on a regular basis. Many businesses in Bagdad, as it was then called, were established in the 1850s, and the first post office was opened in 1858, after the Texas Rangers had arrived to protect the first settlers from the Indians and their frequent attacks. The Rangers built a large fort in the 1850s which slept over sixty men, and during the Civil War, many residents of Bagdad joined the southern forces and fought in the conflict. The name of the city was changed in 1882 to Leander, and the first public school was built on December 5th, 1893.

In 1871, the citizens of Bagdad built a two story rock building, and the second floor was used for meetings of the local Masonic order. The residents then formed a voluntary association to create a new school district, and a new school was built. The new school burned down in 1938, and students had to travel to Georgetown or Liberty Hill to fulfill the state graduation requirements. In November of 1938, a new school was built. Since the small town had been on the stage line from Austin to Lampasas years earlier, the city had grown accordingly, and the first church, the United Methodist Church, was established in 1860. In the early 1890s, the population of Leander was estimated to be 329 people, and since the railroad had built a rail line one mile east of the city, it grew until the Depression, when the population of Leander actually decreased. Farming had been the primary occupation of the residents until the Depression, and afterward, many young men joined the military and fought in World War II. Many churches had been built by then, including Leander Church of Christ, Mary Margaret Catholic Church, and first Baptist Church of Leander. Many roads were built around this time as well, and after U.S. 183 was built, the residents began commuting to nearby Austin for work. Many new businesses were built around the same time, including First State Bank of Leander and McFarland Grocery, and on January 21st, 1978, the city of Leander was incorporated and Joe Bates was named mayor of the small city.

Today, Leander is a thriving community, with a Chamber of Commerce, a golf course called Crystal Falls, a community theater, and a modern public library with internet access and a coffee shop, along with numerous restaurants, bed and breakfast inns, and other lodging and accommodations for visitors. The Leander Parks and Recreation Department has created various recreational activities for the entire family including a concert series, movies in the park, and the Liberty Fest. Some of the restaurants in and near Leander include Smoky Mo's in nearby Liberty Hill, along with The O'Leander Cafe, the Great Wall, and Moody's, as well as a few Mexican food eateries and pizza joints, and numerous fast food establishments.

Currently, the city administers the Council-Manager form of government, and the population of Leander is estimated at just over 20,000 residents. Leander is located in Williamson County about 22 miles northwest of Austin. The city has grown rapidly since the 2000 census, when the population was just over 7500, with a varied racial make up, as well as a diverse group of residents from a standpoint of age. Although most of the inhabitants are considered White, at 83%, many other ethnicities call Leander home, and the median income of a household in Leander is just over $53,000 yearly. The students of Leander attend Leander Independent School District schools, which include elementary, middle, and high schools.

The community of Leander was named for Leander "Catfish" Brown, a railroad official, and the city has a square area of 7.5 miles, with a population density of about 1016 people per square mile. The elevation of Leander is about 978 feet, and part of the city is now in Travis County as well as Williamson County, since the city has grown so dramatically in the recent years. The city has four city parks, including Mason Creek Park, Devine Lake Park, Robin Bledsoe Park, and Benbrook Ranch Park. There are many activities for all, especially seniors, and some of the senior activities include the Active Adult Morning Club and the Morning Club Day Trips. In addition, the Bagdad Community Center offers many activities for seniors to get together and socialize.

Leander is now a thriving city with many attractions, and also very close in proximity to nearby Austin. It is a very accessible community, since it is located near U.S. 183 and State Highway 29, and it will be even more accessible after the completion of the new commuter rail line, which Capitol Metro has established between downtown Austin and Leander. Leander is a great place to visit, or even call home, so be sure to explore Leander when you are in central Texas!


Escapeso real estate operates in Austin Texas. Their site has a map search of the Austin MLS. They also provide statistics and details about Austin real estate and Leander real estate
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Dec. 16, 2008 - Festive Holiday Outings

The holidays are a time for celebration, but it can be a stressful time, too. Decking the halls and all the other preparations for the festivities can start to feel less than jolly. Take a little break this season from the gift buying and tree decorating to enjoy some local holiday merriment.

The Ballet Austin's 46th annual production of The Nutcracker makes a wonderful family outing or even a romantic date. Forget the hustle and bustle for awhile and be transported to the land of talking mice and sugar plum fairies. Performances run until December 23 and tickets at the Long Center for the Performing Arts are $12 - $68. For information call (512) 476-9151.

Enjoy a perennial New York City favorite with the Radio City Christmas Spectacular, including the world famous Rockettes. Austin is one of 18 cities nationwide to host the Madison Square Garden Entertainment production, which is at the Frank Erwin Center December 30 and 31. Tickets are $25, $49 and $72 and would make a memorable Christmas gift. For information call (512) 471-7744.

A little off the beaten path is the Hill Country Galleria on Highway 71, which has performances featuring local talent every weekend at the amphitheater. Bring your own camera for a free picture with Santa in front of the thirty-six foot Christmas tree Saturdays and Sundays, noon to 6 p.m.. Or, bundle up on these cool December evenings and head to The Domain, off North Mopac, to sip hot chocolate at the large outdoor fireplace. Families can stroll the brightly decorated lanes of shopping and restaurants at this outdoor venue with the appealing feel of a village.

An Austin favorite for the last 26 years is the Trail of Lights Festival in Zilker Park. This free event runs every night from December 14th to December 23rd, 7 p.m. until 11 p.m. It is worth the crowds to see the 1.25 miles of 41 continuous light displays. There are also crafts, food, entertainment and a holiday train ride. A good meeting spot for friends and family is under the 155 feet tall Zilker Tree and it's fun to warm up and enjoy a treat by the giant Yule Log. Because the Trail of Lights does get crowded, it's a good idea to plan ahead on transportation and parking. There is limited on-site parking for $15/car, but there are also shuttles from Waterloo Park. For more information on parking and street closures call (512) 416-5700.

Immerse the family in a day of holiday festivities at Schlitterbahn's inaugural "Hill Country Christmas" in New Braunfels. Attractions include a display of one million lights, shows, carolers, ice skating, food and shopping. The event runs until January 4 and ticket prices are $12.99 - $14.99 with free parking.

As a recent study by Harvard professor Nicholas Christakis showed, happiness is contagious. It really can help relieve the stress of the holidays by putting on smile and going out to have a good time. Consider it a gift to yourself.





Ki is a realtor working in the central Austin real estate market. His site provides a free graphical search of the Austin MLS. His site also provided information and stats on Austin real estate and Round Rock real estate.
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Dec. 16, 2008 - The Mortgage Meltdown Could Get Messier

Foreclosure, a word rarely heard in the media before 2007, is now a term used almost daily in the news. Millions of Americans are losing their homes as the country falls deeper into recession. The bailout enacted by congress in October has done little to stop the flow of foreclosures, which are up 30% overall from last year.

Many financial analysts believe we are near the bottom and the recession should be over by the end of 2009. However, as reported on 60 Minutes, the outlook may not be that rosy. The real estate debacle is often called the "sub-prime mess," referring to all the mortgages given to home buyers with risky credit worthiness. According to Whitney Tilson, an investment fund manager, there are a whole slew of other risky loans out there that are just now heading toward danger.

He is referring to two types of loans known as Alt-A and option ARM. According to the Federal Reserve website, Alt-A, which is short for "alternative paper," are mortgage loans that were considered less risky than sub-prime loans. The interest rates on these loans are determined by credit risk and run between prime and sub-prime rates.

An adjustable rate mortgage, or ARM, is just what it sounds like. The interest rate on these mortgage loans adjust after an introductory rate that is quite low, sometimes as low as 1%. These "teaser rates" are reset based on an index and can dramatically change the amount of a monthly mortgage payment. Borrowers were told the interest rate could even go down, but that has not been the case.

Tilson did research on these types of loans in 2007 and was shocked at his findings. These two types of loans, although considered to be less risky just a few years ago, pose great potential for financial disaster. "It was data we'd never seen before and that's what made us realize, 'Holy cow, things are gonna be much worse than anyone anticipates,'" Tilson said.

As the economy continues to unravel and the rates on these loans begin to reset, the ripple effect could be devastating. Like the sub-prime loans, Alt-A and option ARM's have been bundled into what are called mortgage-backed securities. These complicated investment packages, which are traded on Wall Street, are largely responsible for the market free-fall of the last several months.

While Austin has a much lower foreclosure rate than other parts of the country, the Alt-A and option ARM's were popular lending tools in areas experiencing the condo building boom like southern Florida. The fear is that other growth areas, like Texas, have yet to feel the full effect of the real estate troubles. As these loans are due to adjust to new rates over the next few months, the number of foreclosures could sky-rocket.

The Wall Street bailout has yet to lessen the burden on the average American by loosening credit to help move the economy out of a recession. If Tilson is right, the months ahead could be even tougher. As the new administration makes moves to take over and help the ailing economy, the hope is that more emphasis will be put on changing the terms of these loans that are headed to foreclosure.

Ki lives and works in Austin Texas. His site provides potential home buyers a free search of the Austin MLS. He also provides detailed information about Austin real estate and mortgage rates.
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Dec. 11, 2008 - Mortgage Rates Experience Historic Drop

Mortgage rates experienced a historic drop this month. 30 Year rates fell from 5.97 to 5.53. This is the lowest rates have been since January 2008. But I think this understates how low mortgage rates are this week so I did a little research. Since 1974 rates have been lower than today's rates only four times. Below are the dates and mortgage rates.

1) June 2003 5.23
2) March 2004 5.45
3) May 2003 5.48
4) January 2008 5.48
5) December 2008 5.53

Although we looked over a period of 34 years it was interesting that three of the four months with the lowest mortgage rates were in 2003 and 2004. This was basically when Greenspan was cutting the fed rate to prevent the US from going into a recession. A lot of people now blame Greenspan for causing the housing bubble and our current problems. While he might be partially to blame personally I think the massive number of subprime loans (basically loans to people that have a poor credit history) and interest only loans contributed to the problem as well.

The main difference between today's low rates and the rates we saw in 2003 and 2004 is that 5 years ago pretty much anyone with a pulse could get a loan. In the current market rates are low but banks are much more restrictive about giving out loans.

Below are rates for the last few weeks.

December 4, 2008
30-yr 5.53 15-yr 5.33 5-yr ARM 5.77 1-yr ARM 5.02

November 26, 2008
30-yr 5.97 15-yr 5.74 5-yr ARM 5.86 1-yr ARM 5.18

November 20, 2008
30-yr 6.04 15-yr 5.73 5-yr ARM 5.87 1-yr ARM 5.29

November 13, 2008
30-yr 6.14 15-yr 5.81 5-yr ARM 5.98 1-yr ARM 5.33

November 6, 2008
30-yr 6.20 15-yr 5.88 5-yr ARM 6.19 1-yr ARM 5.25

It interesting that 5 year rates are significantly higher than 30 year rates. This is the first time 30 year rates have been significantly lower than the 5 year ARM. It pretty much means 5 year rates are pointless at this point. There is no real reason to get a 5 Year ARM when you can get a better rate on a 30 year loan.

Looking at mortgage rates is one thing but let's translate this into mortgage payments. Using our mortgage calculator we translated today's mortgage rates into a mortgage payment on a 200k house. For good measure we did the same thing with last weeks rates and last months rates.

December 4th
30-yr $1139.34
15-yr $1616.18
5-yr ARM $1169.68
1-yr ARM $1076.08

November 26th
30-yr $1195.24
15-yr $1659.74
5-yr ARM $1181.15
1-yr ARM $1095.75

October 30th
30-yr $1258.87
15-yr $1708.31
5-yr ARM $1245.77
1-yr ARM $1120.56

Looking back to October 30th we can see that payments have come down $119.53 or about 10%. This is pretty substantial. In contrast payments on a 1 year arm have only fallen by $44.48 or about 4%.

So what is going to happen moving forward? I would expect continued wild fluctuations in the mortgage market. We have been seeing large one week changes for the last month and there is no reason that we will not see more wild swings moving forward. Therefore if you are considering a house I would lock in at current rates instead of waiting.

So what about the proposal being considered by Congress to push rates down to 4.5%? I can't say for certain if this will happen or not. It looks on track to pass now but that could change. If it does pass I think it will spur allot of real estate activity. It's not just that rates will be lower but getting rates below 5% is kind of a psychological barrier. I think just seeing rates that are 4.xx will grab people's attention. But that said if there is an increase in activity I expect prices to move up. I highly doubt they will recover to what we saw a year or two ago but we will probably see higher prices than what we are seeing today at least temporarily. After the initial shock has worn off the economy will probably determine what happens with real estate prices.

Ki works as a realtor in Austin Texas. His site has a search of the Austin MLS. It also has a mortgage rates widget and a mortgage calculator widget.
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Dec. 11, 2008 - Christmas Time in Austin

There are several places families can go to hear and sing along to your favorite Christmas songs and see beautiful lights and celebrate Christmas in Austin.

The Austin Symphony has a wonder free concert every year. This year it is "Ring-a-ling, hear them ring, soon it will be Christmas Day." Each December the symphony conducts a free Christmas concert for the public. This year it is being held at the Riverbend centre, and is being conducted by Carlton Dillard. This year's line up will include Frosty the Snowman, Dr. Suess' The Grinch, Rudolph the Red Nosed Reindeer and no Christmas celebration would be complete without the big man himself, Santa! There will be lots of fun and singing!

What is Christmas without "The Nutcracker?" Everyone loves this beautiful production of sugarplums and snowflakes. Each year this beautiful ballet is put on at the Long Center on Riverside Drive. It begins on December 6th and runs through December 23rd, with shows beginning at 8:00pm each night. This is something the entire family will love and will sure to be a yearly festivity for years to come. For ticket prices and information, you can call the Long Center at 512-474-5664.

If you're near Pflugerville, head on over to Heritage Park, they will have a hayride, children's arts and crafts, Yule log and even hot cocoa! Santa is scheduled to make an appearance around 8:00 - 9:00 pm, and the kiddos can even have a picture taken with Jolly St. Nick, all while listening to traditional holiday music by local high school choirs. For more information, give them a call at 512-251-5082.

Old St. Nick is a busy man this time of year, and is going to be heading to Cedar Park on December 13th for "Santa's Workshop." It will be held between 6:00pm-8:00pm and there will be lots of music, games, Yule Fire, arts and crafts and hot cocoa. It will be held at Heritage Oak Park in Cedar Park. The admission for this wonderful Christmas event is free! What a deal!

On December 13th and 14th, head on out to the Lady Bird Johnson Wildflower Center, they will have what is called "Luminations: A Winter Celebration." It begins at 6:00 pm and admission is free with two canned food items. The courtyard will be ablaze with more than 3,000 Luminarias, 5,000 twinkle lights and hammered copper torches. You can listen to music preformed by local bands, choirs and quartets. Frosty the Snowman will be available as well as arts and crafts for the entire family! Give the center a call for more information at 512-232-0100.

Make this Christmas a memorable one by visiting the wonderful resources Austin and the surrounding communities have to offer. You can create wonderful memories for the entire family for years to come!

Ki lives in Central Texas. His site has a search of the Austin MLS and general information and statistics about Austin real estate and Kyle real estate.
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Dec. 11, 2008 - The Community of Rollingwood

Rollingwood is a small city three miles west of downtown Austin, with a population of around 1400 residents at the time of the 2000 census. There were about 489 households reported in Rollingwood at the time of the recent census, and 413 families called Rollingwood home during the census of 2000 as well. The area of Rollingwood is less than a mile square, with about .7 of a square mile being the estimated size. The racial makeup is roughly 96% white with the difference being comprised of various ethnicities, including Native American, Hispanic, and Asian Americans, among other cultures. 74% of the residents of the city are married, and the average household size is about 2.89 people. The average age of the population is slightly older than average for Texas, with the median age being 42 and about 30 percent of the inhabitants being under 18 years old. There is a slightly larger percentage of women than men in the Rollingwood area, which is close to the city of Bee Caves in the hill country west of Austin and nearby Lake Travis. The average income in the area is about $111,000 per household, with the city being in the Eanes Independent School District.

The median home price in Rollingwood is about $369,000, which is significantly higher than the average for Texas homes in general. The community is on the south and west side of both Lake Austin and Lake Travis, and many homes have lake views or lake front access, which accounts to some degree for the higher home values, in addition to the quality of the homes. Only five percent of the residents rent their accommodations, which is a much lower percentage than Texas in general, which is closer to thirty-six percent occupied by renters, and the housing density is 732 homes or condos per square mile in the city of Rollingwood. Median rent in Rollingwood in the year 2000 was $1700, and the median price advertised for homes and condos which were vacant and available at the time was $187,000, also in the year 2000.

The Barton Creek Square Mall is adjacent to the city of Bee Caves, which is just south of Rollingwood, and the mall offers various fine shopping establishments including Nordstrom's, Penney's, Macy's, Dillard's, Sear's, and numerous other stores, restaurants, and a movie theater, and the mall is less than five minutes away for most residents of Rollingwood as well as Bee Caves and West Lake Hills, and easily accessible since Rollingwood is directly off the MoPac. The Barton Creek communities, Lakeway, and other south Lake Travis communities are also just a short drive from the city via R.R. 2244, also known as Bee Caves Road.

Rollingwood is a fairly new community, developed in 1955 by George B. Hatley, and the community was incorporated as a municipality in May of 1963, when a mayor-council form of government was established. It is considered a residential suburb of Austin, but has its own police department and a volunteer fire department as well.

In addition to many fine homes for sale or rent, there are numerous vacation rentals available for those who enjoy the hill country in the Rollingwood community, as well as cabins by the lake, condos, bed and breakfast inns and corporate apartments for the business traveler or resident, among many family-oriented resorts and hotels in or around the city. Rollingwood's gently rolling hills, winding roads, majestic sunrises and sunsets, and beautiful scenery make it an ideal community for those who love nature and all of the advantages of living near the water, but who also need the proximity of the downtown area, which is barely a ten minute drive from Rollingwood, even during peak traffic. Rollingwood is a perfect community for those who want a balance of convenience, natural beauty, and nearby amenities, so be sure to visit Rollingwood when in the Austin area!

Ki is a Austin real estate agent. His site has a search of the Austin MLS along with information about Austin real estate and Rollingwood real estate.
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Dec. 11, 2008 - The Unprecedented Presidential Transition

If it seems a little unusual that President-elect Barack Obama is holding daily press conferences and lining up legislation to be signed his first days in office that's because this is a presidential transition like no other. Perhaps it is indicative of the economic crisis, but the handing off of the baton to the 44th president stands out in many ways.

Some of the transitions from one administration to another in the past have gone smoothly, and others have been difficult. A recent article in the Los Angeles Times referred to the period between the end of James Buchanan's presidency and the start of Abraham Lincoln's as, "Arguably the most catastrophic transition in American history." President Buchanan did little to stop the flood of states seceding from the Union the last months of his term, thus making the Civil War impossible for Lincoln to avoid.

There have been many transitions marked by animosity, such as John Adams snubbing Thomas Jefferson by refusing to accompany the new president to the Capitol for the inauguration. Or there was the hostility between Herbert Hoover and Franklin D. Roosevelt, which did not help the financial situation during the changeover in 1933.

The willingness of President Bush to work with President-elect Obama has certainly distinguished this transition from others. However, it is not only the willingness of the Bush administration to cooperate with Obama, it is also, as the article in the Los Angeles Times stated, "the near-record speed and precision with which Obama has named his team and outlined a sweeping agenda for dealing with the worst economic crisis in a generation."

Obama's swiftness in setting up his White House staff stands in stark difference to the pre-inauguration days of Bill Clinton. The months leading up to Clinton's transition into the White House were full of high-profile cabinet appointments, but little was done to put a staff together until a few weeks before his inauguration. With the same attentive determination he used for his campaign, Obama quickly put a staff together in the days after his nomination starting with Rahm Emanuel as his chief of staff.

To say that Obama has also made some high-profile cabinet appointments is putting it mildly. This week has seen the nomination of campaign rivals Hillary Clinton for Secretary of State and Bill Richardson for Secretary of Commerce. It is rare for future presidents to install their former foes into their cabinets. There are other unusual steps like making Robert Gates the first Secretary of Defense to be carried over from one administration to the next.

The next president of the United States will come into the office in January with a nation fighting a war in two countries, a financial crisis the likes-of -which has not been seen in generations and the constant threat of global terrorism. Even without the backdrop of the daunting job facing President-elect Obama, the few months between the nomination of one president and the end of the term of another can be times of much uncertainty. During this transition Americans can be certain that an ambitious plan is being made.

Escapeso Realty provides advice and assistance to people interested in the Austin real estate market. Their site has a search of the Austin MLS along with a free mortgage calculator.
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Dec. 4, 2008 - How to Prepare a Holiday Feast on a Budget

The holidays are a time of togetherness, a time for friends and family to catch up and enjoy each others' company. It's no wonder meals are a central focus of the holiday schedule what better way to get people together than over a delicious meal? But preparing the perfect holiday feast doesn't require a major investment. Careful planning and smart shopping can help you put together a memorable family meal without breaking your holiday budget. Here are a few simple tips to get you started.

1. Simplify
There's no need to go over the top when it comes to planning your holiday meal most of the staples (turkey, stuffing, vegetables, pie) are relatively inexpensive, especially when you prepare them yourself. Skip fancy hors doeuvres in favor of seasonal favorites, and complement your main dish with simple sides like fresh green beans or mashed potatoes. Simplifying your menu allows you to prepare a big, delicious meal without overspending.

2. Get everyone involved
The holidays are about spending time together, so why not start in the kitchen? Get friends and family involved in the cooking process, or have them bring something with them a pie, a bottle of wine, or a simple side dish. This will not only alleviate the pressure on you to provide everything, but will also get others involved in the process, making the meal more special. If someone insists on a favorite dish (a specific kind of pie, or their favorite side dish), let them make it. Particularly with children, this tactic allows them to see the amount of work that goes into preparing the meal, and will help them appreciate what it means to sit down as a family over the holidays.

3. Shop smart
Instead of hitting the gourmet market, or head to your local big box store or grocer for the best deals on everything you need for your holiday meal. Discount clubs like Costco or Sam's Club have all kinds of holiday-appropriate goods, from food to spices to decor. Spending your money wisely will help your budget stretch further, keeping you in the black this holiday season. Also, keep in mind that Christmas is just around the corner, so stocking up at a discount or wholesale club may be ever more practical if you can get big ticket items like turkeys or hams in bulk, and save enough for your next holiday meal in the freezer. Not only will this help save money, but it will save a lot of time shopping as well.

4. Embrace the holiday spirit
It's easy to get carried away preparing for a big family holiday, particularly when trying to do it on a budget. But don't let the pressure get to you remember that the holidays are about family togetherness and celebrating friends. At the end of the day, the most important thing is that everyone is able to come together and share a special time with one another. Make that the priority, and little things like fancy appetizers or expensive desserts won't be missed.

Escapeso Austin real estate is a small company in central Austin. Their site provides information for buyers interested in Austin real estate along with a search for Austin homes. They has provide statistics on the Round Rock real estate market.
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