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June 2008

Jun. 26, 2008 - Zilker Park in Austin Texas

Austin is home to one of the best metropolitan parks in the state. With sand volleyball courts, a nine-hole disc golf course, soccer and rugby fields, and two enormous multi-use fields for the sports enthusiasts, Zilker Park is also home to Barton Springs pool, the Zilker Zephyr train, botanical gardens, a huge play ground, miles of hike and bike trails, and with many other permanent amenities within its 350-plus acres. A regular destination for Austinites, the park is also home to some of the city’s most popular events, including the Trail of Lights, the Austin Kite Festival, and the Austin City Limits music festival.

Over three acres large, Barton Springs is Austin’s favorite swimming hole. Fed from underground springs, the pool maintains an average water temperature of 68 degrees year round – most find it bracing, and a welcome respite from the summer heat. With a separate area that welcomes dogs in addition to human swimmers, Barton Springs has drawn a diverse crowd of swimmers for more than a century. Zilker Park is located close to downtown in the historic Barton Hills Neighborhood. Barton hills homes were built in the 1940s and the neighborhood offer a quaint charm of tree lined streets surrounding the park.

Zilker Park’s playground is enormous, with plenty of action for toddler and bigger kids as well. Slides, swings, climbing structures and even an old-fashioned fire truck entice the kiddos, while benches and picnic tables are available for the less active. Adjacent to the playground is a snack bar, featuring cold drinks and a limited menu. Just across from the snack bar is the train depot for the Zilker Zephyr, a miniature train that takes visitors on about a 20 minute tour around the park. Alongside the creek, under a bridge, and past people waving hello, the train delights kids of all ages.

With eighteen acres of grounds to explore, the Zilker Botanical Garden is a beautiful and serene destination. Among its many horticultural attractions are a Japanese garden, xeriscape demonstration garden, rose garden, cactus garden, bedding displays, floral display garden, butterfly trail and garden, and an herb & fragrance garden. The dinosaur statue located in the Hartman Prehistoric Garden is always a hit with kids, and the interpretive center holds a wealth of information.

The Zilker Hillside Theatre is perfected situated to allow the audience to bring a blanket or lawn chairs and picnic while enjoying the different performances. Home to the annual Blues on the Green series, the theater also puts on concerts in many different genres of music in addition to hosting Austin’s Shakespeare in the Park.

The Umlauf Sculpture Garden and Museum is another tranquil cultural offering in Zilker Park, focused primarily on the work of American sculptor Charles Umlauf. With over 130 sculptures, drawings & paintings located throughout its lush green grounds, they offer educational programs and tours in addition to their regular hours for public visits.

The Austin Nature and Science Center can also be found in Zilker Park, and is a fascinating and educational destination. With an interpretive center, education programs and summer camps, kids of all ages will delight in viewing their rescued animal exhibit, and can practice being junior archeologists in the dinosaur pit.

Ki lives and works in Austin Texas. His site provides information on Austin real estate with descriptions of Austin neighborhoods and a search of the Austin MLS.
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Jun. 26, 2008 - Austin Texas Book Festival

If music festivals such as South by Southwest and the Austin City Limits festival are testament to the city’s reputation as the Live Music Capitol of the World, the Texas Book Festival is proof positive that Austin is a hotbed of creativity in the literary world as well. Founded by Laura Bush in 1995, it has grown to become a nationally important event, featuring over two thousand authors, local, national and international, in twelve years of existence. Exciting, fun, musical and educational, this all-ages event is considered to be one of the premiere literary events in the country.

Located primarily in the State Capitol, the festival takes place every fall, drawing upwards of 40,000 spectators to delight in panels, concerts, demonstrations, and other activities in the House and Senate Chambers, as well as tents and stages erected on the sprawling green lawn of the Capitol grounds. Bill Clinton, Barack Obama, and other high-profile politicos have given keynote addresses, and the late Governor Ann Richards was a regular as well. Kay Bailey Hutchison, Jim Lehrer, and Roy Blount Jr., and other such notables have made appearances as well.

A variety of themes are represented at the festival, with panels dedicated to mysteries, biographies, photography, retrospectives, periodicals, journalism, and many other topics. A “Lifestyle” tent hosts discussions and activities including parenting, wineries, birding, and yard art.

In keeping with the interests and expectations of Austinites, the festival emphasizes a high level of entertainment and music, dedicating one tent to musical performances throughout the festival, and hosting events at satellite locations including the legendary Continental Club. A concert featuring Austin’s finest musicians is held on the Capitol steps. Musician authors such as Joe Ely read from their works, as do those who write books about musicians, including Kathleen Hudson and Joe Nick Patoski.

Other aspects of the entertainment world are well-represented also. Actors including Eli Wallach and Marlee Matlin have appeared there, and Top Chef host Padma Lakshmi offered live cooking demos for exotic recipes. Food and cooking are also highlighted, with an entire tent equipped with cooking supplies and dedicated to cookbooks and examinations of food culture.

The Texas Book Festival has raised over two million dollars for Texas Public Libraries, and their commitment to children is clear. With one tent dedicated to children’s authors, one to children’s entertainment, and one to activities for the little ones, this festival is a perfect way to combine books and literacy with a fun and exciting event. Storytimes abound throughout the festival, and activities can include hula dance, puppet shows, drawing, and sing-alongs. When children’s authors are in town for the festival, they often take part in “Reading Rock Stars,” an affiliated program that brings them to public schools to read their works.

A truly Austin event in spirit, the Texas Book Festival is a lively, creative and exciting way to explore the literary world both on a local and national level.

Ki is a realtor and a blogger in Austin Texas. He runs his Austin real estate blog writing about market trends in Austin. His site features information about mortgage interest rates and general information about Austin real estate.
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Jun. 24, 2008 - Mortgage Interest Rates: Up Up And Away

Mortgage Interest Rates

Current Mortgage Rates
Mortgage Rate Trends


Up up and away. Mortgage interest rates continue on their upward trajectory. 30 Year mortgage rates went from 6.32 to 6.42. 15 year notes rose from 5.93 to 6.02 and 5 year arms rose almost 20 basis point going from 5.7 to 5.89. 1 Year arms rose this week from 5.09 to 5.19. But unlike the other mortgage products (which are higher) 1 Year Arms remain about where they were a month ago. As we have talked about for the last several months since the FED is no longer cutting rates we can expected rates to rise throughout the summer. The only question is when they will stop rising and start stabilizing. Below is the rates for the last month.

June 19,2008
30-yr 6.42 15-yr 6.02 5-yr ARM 5.89 1-yr ARM 5.19

June 12,2008
30-yr 6.32 15-yr 5.93 5-yr ARM 5.70 1-yr ARM 5.09

June 5,2008
30-yr 6.09 15-yr 5.65 5-yr ARM 5.51 1-yr ARM 5.06

May 29,2008
30-yr 6.08 15-yr 5.66 5-yr ARM 5.62 1-yr ARM 5.22

May 22,2008
30-yr 5.98 15-yr 5.55 5-yr ARM 5.61 1-yr ARM 5.24

May 15, 2008
30-yr 6.01 15-yr 5.60 5-yr ARM 5.57 1-yr ARM 5.18

Breaking out our free mortgage calculator lets see how the increasing rates have changed the payment on a 200k loan.

June 19th
30-yr $1253.63
15-yr $1689.87
5-yr ARM $1184.99
1-yr ARM $1096.98

May 15th
30-yr $1196.53
15-yr $1639.47
5-yr ARM $1149.41
1-yr ARM $1103.16


Mortgage payments on most of the mortgage products went up quite a bit over the last month. Looking at a 30 year note the mortgage on a 200k loan has increased $57.10 or about 4.8 percent in a little over a month. In fact the only mortgage product to fall is the 1 Year Arm ($6.18 or about 0.5 percent). Why banks would want to push ARM which is the very loan product that caused all the problems in the first place is anyones guess. Although I typically avoid ARMs the cost savings on a 1 or 5 Year ARM is hard to ignore. That said I would only look at ARMs if you think their is a reasonable chance you will sell your property in that time frame. The general expectation is that rates should be higher and not lower in a few years.

So the question remains where are rates going to be in the next month. While I was fairly confident that rates would rise this month I am not as sure what will happen in a month. If the FED continues to avoid anymore rate cuts I would expect to see mortgage rates at about the same level or higher. Banks have been dealing with massive losses from foolish bets on subprime loans and are looking to make up for these losses through higher mortgage rates.

Another change occuring with loans is a limit on the number of investment properties an individual can recieve a loan on. It looks like most banks are limiting the number of investment property loans per individual to 4. This should obviously have a negative effect on investment properties. I also expect to see more cash offers from investors looking to pick up properties at currently depressed prices.

Personally I think this rule is a little bit foolish. I would make more sense to limit loans based on some networth to total loan amount ratio. For instance if someone has 2 million in the bank it seems reasonable to allow them to buy 5 duplexes for 180k. But if the banks were well run they probably would not be swimming in subprime debt right now.

Ki is real estate agent in Austin Texas. He runs a website covering the ins and out of Austin real estate along with providing a free search of the Austin MLS and market information on his Austin Real Estate Blog.
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Jun. 24, 2008 - South By Southwest

Every year, Austin is descended upon by thousands of music, film, and web industry professionals, artists, and fans, all attending the annual South by Southwest Festival. Although it started as a local music festival, as it now enters its third decade, SXSW has become one of the premier industry conferences, and has gained a reputation for launching the careers of the artists involved.

SXSW is comprised of three components – music, film and interactive, but this being Austin, the music events are among the most popular, and it has become one of the most famous music festivals in the world. Dozens of local clubs are enlisted to become dedicated SXSW venues, and local residents can participate by volunteering for tours of duty at the different venues, or at the conference. Besides the talent and the local volunteers, the attendees at the music event number over 12,000 registrants. With this many people visiting downtown Austin, SXSW always heralds an exciting, vibrant time for our fair city, and locals often find themselves dining alongside people from New York, London, Tokyo and Australia – all at once.

Over the last two decades, the number of musical acts featured at the festival has grown to over 1,400, all playing during the four days of the music festival. Although impossible to see even a fraction of the offerings, many of shows are grouped with themes, featuring acts from a country such as Norway, or Japan, or featuring acts that share a label or genre. Headline acts including Morrissey, Pete Townshend, Iggy Pop, and Amy Winehouse are featured alongside up-and-comers including UGK, Blonde Redhead and The Gossip. Local acts must pass muster, but SXSW stays true to its roots by featuring a great number of the best Austin has to offer.

Austin’s burgeoning film industry gets its fair share of attention at the film festival, which features panels, screenings and discussions. Focusing on independent offerings including documentaries, animation, fictional drama and comedy, the film festival hosts many world premieres. The interactive festival shows Austin at its cutting edge finest, featuring top new media and technology entrepreneurs alongside visionary artists, designers and digital creators.

One aspect of the week is the number of free, renegade concerts that take place. No need for a wristband, and often advertised only in fanzines and through word-of-mouth, many of the artists participate in these under-the-radar shows to give back to the community that helped launch them. After all, Austin is the live music capital of the world all year round, not just for SXSW!

Whether you are a local, visitor, musician, auteur or fan, SXSW week is always an exciting one in Austin. Restaurants are jumping, stores are hopping, and music can be heard throughout the city.

Ki helps people looking for Austin real estate and land. His site allows users to search the Austin MLS and provides information on current mortgage interest rates.
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Jun. 24, 2008 - Restaurants In Austin With Live Music

Austin is known as the Live Music Capital of the World. One of the best parts about having that distinction is that even if you aren’t necessarily into the club scene, you can still hear live music at restaurants throughout the city. Whether you feel like hearing Cajun, blues, country, Latin or rock, you can almost always find a great meal enhanced by a great band playing.

Threadgill’s is legendary not only for their chicken fried steak and cheese grits, but for also being the place that gave Janis Joplin her start. With a newly refurbished north location, and their World Headquarters just south of the river, Threadgill’s features the best in bluegrass, country, and soul music, as well as hosting a delicious and rejuvenating Gospel Brunch. Steaks, seafood po-boys, and the best vegetable side-dish selection in town, this is the quintessential Austin food and music spot. 301 West Riverside Drive, Austin, Texas 78704 // 6416 North Lamar Blvd., Austin, Texas 78752

Artz’ Rib House is another gem of a music/food venue in Austin. As their name suggests, their specialty is smoked ribs, with country style pork, baby backs, or big beef ribs to choose from. They also make one of the better burgers in town, offer the Texas BBQ staples of brisket and sausage, and even have an inventive vegetable kabob on the menu. Their musical offerings are just as tasty, with an emphasis on western swing and a monthly Old Time Fiddlers Jam. Artz is located in the barton hills neighborhood at 2330 South Lamar, Austin, TX 78704

Quality Seafood is both a seafood market and a restaurant, serving some of the finest and freshest fish in town. Three days a week they feature music along with food and drink specials. Mondays they usually feature a hot jazz combo, and offer a great deal on succulent king crab legs, and on Wednesdays a folky blues duo entertains while the crowd feasts on peel and eat shrimp. A DJ holds forth on Thursdays, sometimes with live instrumental accompaniment, and the special rotates – recent Thursday food specials include spicy Texas crawfish and soft shell crab po-boys. 5621 Airport Blvd., Austin, TX 78751.

Las Palomas serves some of the finest Mexican food in the city, and features one of Austin’s best kept musical secrets. When they aren’t on tour with a major Texas country star, you can find the cream of Austin’s crop of pickers joining a gypsy jazz violinist for some jaw-dropping jazz every Wednesday night. Famed for their enchiladas “Tres Marias,” Las Palomas also offers ceviche, chicken mole, and other specialties. 3201 Bee Caves Road, Austin, TX 78746.

Having survived the ups and downs of Austin’s East Side, the Victory Grill is truly a piece of Austin history, but is just as vibrant today. Built in 1945, the club has hosted acts including B.B King, Ike and Tina Turner, and Billie Holiday, and today features Austin’s finest blues acts. With a rotating menu of down home cooking, the Victory Grill is a slice of Old Austin.

Ki works in Austin Texas with clients interested in Austin real estate. He keeps people up to date on his Austin real estate blog and has a free search of the Austin Texas MLS.
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Jun. 19, 2008 - Austin Hipness Moves South

For decades, bumper stickers have adorned cars all over central Austin, proudly proclaiming "78704 – More Than just a Zip Code." The South Austin lifestyle originated there, but as Austin real estate prices rose, and fancy restaurants and shops re-energized South Congress, a migration of hip-ness began. Now, a new bumper sticker is gaining in popularity, reading "78745 – the new 78704."

This is the perfect area for a young couple to start off. The area is roughly bordered by Westgate Blvd. to the west, Ben White to the north, Slaughter to the south, and Congress to the east, and has the feel of an established, homey neighborhood. Mature trees, fabulous mid-century ranch houses, great starter properties, winding streets with charming names like Jinx and Redd, and a casual but upwardly mobile vibe are hallmarks of the area.

The commercial center of the region is the Westgate Center, on Ben White, featuring the foodie mecca, Central Market. A wonderful store that highlights organics and international foods, Central Market also has a great café that features live music four days a week. For takeaway, they have, a Chef’s case and salad bar, as well as prepared full-meals for two or four, sushi, sandwiches, and a soup bar. Their cooking school offers classes on topics such as grilling, dim sum, tapas, and many other creative subjects. They recently added a wine bar to emphasize their world-class wine section, and their on-site bakery is one of the few places in South Austin to get fresh, organic breads. Also located in the shopping center are Whole Earth Access, Beall’s, Yoga Yoga, and the Westgate 11 Cinema, as well as many other boutiques and cafes.

Garrison Park is a large, well-appointed park smack dab in the middle of "the four-five." Their playground has two playscapes – one geared towards toddlers, and one towards older kids, and they have swings for all sizes as well. With a toddler/wading pool in addition to a full size recreation and lap swimming pool, this is a popular destination in the summer. They have grill grates, picnic tables, a basketball court, and a decent sized parking lot, making this one of the cities finer parks.

While the quiet tree lined streets and bucolic feel are a big plus, one of the most attractive qualities of the 78745 neighborhood is its proximity to central Austin. Manchaca leads right to Lamar, with South First and South Congress being the other two main north/south arteries that lead straight to the heart of Austin's business center, and to the other vibrant neighborhood shops and restaurants. Ben White hooks right into Mopac and Loop 360, and I 35 is just a stone’s throw.

This neighborhood has all the qualities that make Austin such a cool place to live. With a great range of housing options and prices, a settled, mature neighborhood feel, and a great array of businesses and restaurants in close proximity, this is an up-and-coming area waiting to be discovered.

Escapeso Austin Texas real estate is a realty company in Austin. They provide web visitors a map search for Austin Homes along with updates on their blog about Austin real estate.
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Jun. 19, 2008 - LADY BIRD JOHNSON WILDFLOWER CENTER

Texas wildflowers are celebrated throughout the state of Texas thanks to the efforts of the late former first lady Lady Bird Johnson, and Austin is home to the institution she helped created, named in her honor. The Lady Bird Johnson Wildflower Center is a unique attraction, paying homage to the woman who helped elevate and preserve the native plants and the natural beauty of Texas.

The Wildflower Center works daily to educate the public on sustainable use and conservation of native wildflowers, plants and landscapes. With beautiful gardens, expansive meadows, and woodland trails to explore, visitors can experience the plentiful offerings of Texas’s native plants up close. Tours are available, but visitors can enjoy the grounds at their own pace with the available printed information or with an audio podcast to guide them.

In addition to the gardens, the Center curates rotating exhibits, many of which include art. Whether viewing oversized bronze insects throughout the grounds, or viewing sculpture and paintings on display indoors, the beauty of nature is enhanced by its pairing with visual arts. Many exhibits are mounted in their McDermott Learning Center, which also holds a permanent exhibit, and features a large picture window from which to view the natural surroundings. A docent is often available in the learning center to answer questions, and to help visitors identify the plethora of different flowers and plants they will see on the grounds.

Children will find a world of fun and education designed especially for them. A tiny door indicates that the room within is dedicated to the wee ones, with puppets, books, arts and crafts that help illustrate the wealth of nature that exists at the center and throughout the state. This is also a great place to take a break and beat the heat while discussing the different plants located on the trails and in the gardens. A popular destination for school field trips, the Wildflower Center also offers teacher resources to maximize a class visit. They also offer summer camps – a perfect way to engage school-age youngsters in nature and science during their summer break.

The Wildflower Center is home to a delightful café. Featuring fresh and inventive sandwiches, salads, baked treats and thirst-quenchers such as hibiscus mint tea, the café is almost a destination in itself. Soups are made from scratch, and vegetarian including the sensational Wildflower Wrap (Roasted Poblano & Portabella Mushroom wrapped in a tomato basil flour tortilla with lettuce and tomatoes,sun dried tomato spread) are available.

Events including fundraising galas, artisan nights, plant sales, and nature nights are held throughout the year, in addition to guided tours. Their website is an extensive resource both for planning a trip, and for learning more about the myriad of things encountered on a trip. They publish a newsletter and magazine in Austin, in addition to the materials available at the main office.

The last stop of the visit should be to their gift shop – featuring clothing, books, gifts and educational toys that will commemorate and unforgettable visit.

Escapeso Austin Real Estate is a small realty company in Austin. They help clients interested in Austin real estate and provide a free web search of the Austin MLS. They also provide visitors updates on the Austin market on their Austin real estate blog.
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Jun. 17, 2008 - Austin Children’s Museum

Austin families are lucky indeed to have a facility such as the Austin Children’s Museum. With 7,000 square feet of interactive and educational permanent exhibits, inventive traveling features, story-times and public events, this museum serves as a hub of Austin’s family community. Upon entering, kids are delighted to board a scaled down Austin Metro bus. Sitting in the driver’s seat or holding a strap in the passenger section, this exhibit is cleverly planned to distract the kiddos as the adult pays admission and learns about the day’s events. Other permanent exhibits include the dairy cow, an oversized milk-cow statue with a looping video about dairy farming, with a doll-house sized barn and toy cows to play with. The Rising Star Ranch provides a wonderfully varied sensory experience especially designed for the under-two set, while the Tinkerer’s Workshop allows older kids to experience creating their own structures by inventing, designing, building and testing their ideas. This being Austin, music is emphasized in the amazing Austin Kiddie Limits. Fun for all ages (including adults), this room is a kid-oriented interactive version of the acclaimed live music television show Austin City Limits. With toy instruments, cowboy hats and other costume pieces, a stage and a video monitor, kids can play along with their favorite Austin musicians including Willie Nelson, Lyle Lovett, Miss Lavelle White, Asleep at the Wheel, Kelly Willis, Flaco Jimenez, and Toni Price. The best part is that the kids can see themselves on the video monitor, making it a real rock-star experience. Their program offerings include something for every age group. Baby Bloomers is a weekly opportunity for kids under three to explore the entire facility with only toddlers and their caregivers in the museum. Discovery Time offers daily, hands-on activities that enhance the permanent and changing exhibits. Storytime, held in their large foyer, is offered for different age groups, and often includes music making, bubble blowing, and other interactive elements. Gallery programs include the popular Wednesday Community Night, featuring different performances, storytelling, music and activities, and Science Sundays, featuring hands-on activities led by real honest-to-goodness scientists. Checkout the Childbloom guitar program for a cacophonous and hilarious take on combining story telling with accompaniment by the kids, or the Austin Keyboard Orchestra program to learn how to build and play an instrument. Located in downtown Austin the Austin Children’s Museum is centrally located for people in different areas of the city. It is also located close to other Austin attractions like Zilker Park the famed bat bridge so that visitors can see a number of fun Austin attractions in an afternoon. The Austin Children’s Museum offers camps during the summer and spring break, for ages 4 to 10. They offer seasonal programs including the popular Gingerbread House workshop in December. The facilities are available for birthday (and other kids of) parties, including sleep-over parties. Special events can also be held on the premises. With a stated goal to help Austin’s kids and families become more creative, more inventive, and more competent, the Austin Children’s museum combines fun and education in a world-class facility. Ki lives in Austin and enjoys the local music scene. He works as a realtor in the Austin real estate market. He also regularly writes on his blog about updates on Austin Texas real estate. His site features a graphical search of the Ausin MLS.
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Jun. 17, 2008 - Pemberton Heights in Old West Austin

Pemberton Heights is the name of a beautiful and historic area of Old West Austin, centrally located and convenient to downtown, the University of Texas campus, and the State Capitol complex, as well as easily accessible by the MoPac Expressway, also known as Loop One. The gateway to Pemberton Heights is considered to be the Keith House, at 2400 Harris, and this historic home was built in 1933 and has an unobstructed view of the Texas Capitol building from the front balcony, since it is located in the northern area of Austin’s State Capitol view zone. The Keith House was exhibits characteristics of both the Monterey Revival style as well as the Colonial Revival Style, with a wooden balcony and low-pitched roof, as well as varied exterior wall materials. This home is considered to be the earliest example of the Monterey Revival Style in the Austin area, and has chimneys at the gable ends, a central hallway, and shutters throughout, illustrating the Colonial Revival style. Two other historic and majestic homes in the neighborhood are Pemberton Castle, also known as the Fisher-Gideon home, at 1415 Wooldridge Drive, and the Catterall Mills House, at 2524 Harris, very near the Keith House.

Pemberton Castle is a limestone structure, with ivy-covered walls, which was built in 1926 from the remnants of an old cistern that was built on the spot in the late 1800s, and which was originally used to help Austin’s first fire fighters access water in the area. The home was originally owned by Judge John Harris, of Galveston, who was one of the earliest settlers to the area, and for whom Harris Boulevard is named. Harris was the Attorney General of Texas in the 1940s under then-governor Elisha Pease, for whom Pease Park is named, and Pease and Harris were real estate partners at the time. In 1925, the tower of the home was converted into a gothic structure by Samuel Fisher and his wife, Lucille.

The neighborhood was named Pemberton Heights about the same time, in 1927, when the developers filed a plat with the Travis County Clerk’s office for the first home in the new subdivision to be called Pemberton Heights. Shortly thereafter, the Castle became the sales office for the new development.

The Catterall Mills House was built in 1937 in the style of Early American Georgian Revival, and it is a plain, symmetrical, wooden structure covered with red wood siding. The home was bought by the Chester Family in 1999, and features some very unusual architectural amenities, including a bomb shelter built in the backyard during the Cold War. There is also an Italian marble fireplace and many stained-glass windows throughout the home.

Pemberton Heights roughly encompasses the area from the intersection of MoPac and Windsor, south along Windsor Rd., and north along Shoal Creek to 29th Street. The street which encompasses the eastern edge is Harris Boulevard, which eventually intersects with Northwood and then Jefferson. Westover Road is considered the last bordering street of the neighborhood, and the land contained within these boundaries is generally considered to be Pemberton Heights. The subdivision is considered to be one of the most prestigious as well as livable neighborhoods in Austin for a variety of reasons.

The Pemberton Heights subdivision was named in the 1998 issue of Town and Country magazine as one of the twenty-five Platinum Addresses in the United States, and in 2007, this neighborhood, along with its Old West Austin counterparts, was named by the American Planning Association as one of its “Great Places” neighborhoods. There is a very active neighborhood association in the subdivision, open to all residents, and some of the issues they are involved with include the preservation of trees and other foliage, less expansion by the MoPac into the neighborhood, and retaining the historic character, as well as creating and maintaining a pedestrian friendly environment in Pemberton Heights, which is also considered to be a very family-friendly area.

Today, residents and visitors can become knowledgeable about issues by reading the Pemberton Journal, which is published by the neighborhood association, and the subdivision has numerous single-family dwellings for sale and rent as well as condominiums and apartments available for rent. Pemberton Heights is one of the most desirable locations to live in Austin, and is minutes from downtown and various other attractions. If you are looking for the good life, Pemberton Heights has it all.

Ki works in the Austin real estate market. His site has a free search of the Austin MLS and information on mortgage interest rates.
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Jun. 14, 2008 - Mortgage Interest Rates Jump Up

Mortgage Interest Rates

Current Mortgage Rates
Historical Mortgage Rates


After several weeks of staying relatively flat mortgage interest rates jumped up this week. 30 Year mortgage went from 6.09 to 6.32. 15 Year Mortgage moved from 5.65 to 5.93. 5 Year rates went from 5.51 to 5.70. The only rate that was somewhat stable was 1 Year Arms which went up from 5.06 to 5.09. Two weeks ago we predicted that rates would increase over the summer and they seem to be doing exactly that.

June 12,2008
30-yr 6.32 15-yr 5.93 5-yr ARM 5.70 1-yr ARM 5.09

June 5,2008
30-yr 6.09 15-yr 5.65 5-yr ARM 5.51 1-yr ARM 5.06

May 29,2008
30-yr 6.08 15-yr 5.66 5-yr ARM 5.62 1-yr ARM 5.22

May 22,2008
30-yr 5.98 15-yr 5.55 5-yr ARM 5.61 1-yr ARM 5.24

May 15, 2008
30-yr 6.01 15-yr 5.60 5-yr ARM 5.57 1-yr ARM 5.18

May 8, 2008
30-yr 6.05 15-yr 5.60 5-yr ARM 5.67 1-yr ARM 5.29

Using out free mortgage calculator lets see what the rate increase mean for the payments on a 200k mortgage. We calculated out the mortgage payments based on today's mortgage interest rates and rates a week and a month ago.

June 12th
30-yr $1240.55
15-yr $1680.15
5-yr ARM $1160.80
1-yr ARM $1084.67

June 5th
30-yr $1210.69
15-yr $1650.11
5-yr ARM $1136.83
1-yr ARM $1080.98

May 8th, 2008
30-yr $1205.53
15-yr $1644.79
5-yr ARM $1157.00
1-yr ARM $1109.36

So for a 30 Year Mortgage on a 200k loan the mortgage payment went up about $30 or about 2.5 percent. The mortgage on a 15 Year mortgage also went up about $30. What is weird is rates on 1 Year ARMs stayed about the same and are actually down from a month ago. This makes no sense. Banks are dealing with foreclosures that are mostly coming from borrowers that got 5 and 1 Year ARMs. Basically when the ARMs reset borrowers are frequently unable to make the higher payments and wide up facing foreclosure. One would think banks would be discouraging these high risk loans. I would like to think the banks know something I don't. But looking at their foolish behavior over the last few years (giving loans to everyone that walked in the door from 2004-2006) its a distinct possibility they are just plain foolish. So again this week 1 Year ARMs look attractive. Just remember in a year your rate and mortgage could be higher so it would be wise to have some cash on the side to pay a potentially higher mortgage. And I would expect rates to be higher one year from today.

So what would I expect to happen over the rest of the summer. First off I don't see rates going down. The FED has given numerous signals they don't plan to lower rates. Will rates continue to go up? I am not sure. I expected rates to creep up over the next month instead of jumping up this month. So I hope rates stay relatively flat but they could go higher over the next month.

Escapeso Realty operates in the Austin real estate market. They work with investors interested in Austin commercial real estate and provide a search of the Austin MLS on their website.
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Jun. 14, 2008 - Texas Friendly Flowers

Do you love the beauty and color of flowers but cringe at the thought of the maintenance required for their upkeep? If your colorful blooms have a tendency to turn brown and crunchy from neglect in the hot Austin sun, there may be some flowers made just for you. Flora native or adapted to the Austin area thrive where others perish, resisting drought, pests and other hazards. Just choose your plants wisely and you can have fabulous landscaping for your property with little work.

There are many benefits to growing native plants. In addition to saving on water and fertilizer you save on time by choosing plants that thrive in the unique climate of Austin Texas. Your gardening is also more enjoyable when you are not fighting mother nature in an attempt to grow plants that are not suited to the Texas Climate. It is also nice to help maintain the original ecosystem of your locale by promoting local plants and flowers.

Perennials are an essential part of a vibrant landscape, and a beautiful choice for any Texas flowerbed is Cedar Sage. A shade lover, Cedar Sage has bright red spiky flowers that bloom spring through summer and can bring a pop of color to an otherwise gloomy spot in your yard. Sage comes in several other varieties, too, including Majestic Sage, Mealy Blue Sage and Mexican Sage bush—all of which produce beautiful flowers and require very little water, just like Cedar Sage.

Trailing Lantana is another great choice, especially when used as a ground cover. It is very tolerant of poor conditions, highly drought resistant, and its lavender flowers are very attractive to butterflies.

Purple Cone Flowers, also know as Echinacea, require a little more water than the previous plants, but they are nonetheless exceptional specimens for an Austin garden. These daisy-like flowers are a Texas native and produce violet or white blooms. Preferring sun or partial shade, they can be planted almost anywhere.

Mexican Honeysuckle is another low-water plant. It displays its orange flowers spring to frost, attracting hummingbirds with its sweet smell. It only requires an occasional pruning to encourage full growth.

Ornamental grasses are another option for sprucing up your landscape, and there are many hardy varieties to choose from, such as Big Muhly, Little Bluestem and Dwarf Fountain Grass. Some grasses can be quite invasive, so be careful where you plant them, because they will thrive and take over.

These are only a few of the many ideal plants for your Texas landscape. There are a multitude of choices available out there, so next time you go to a nursery, make sure you do your homework first or ask the people running the nursery which plants and flowers are native to Texas. The city of Austin has worked to promote a green and environmentally friendly city. The city of Austin has a Grow Green plant list featuring native and adapted landscape plants that thrive in Texas. By planting smart you can save water, fertilizer and time.

Ki works as a realtor in the central Austin real estate market helping individuals looking for homes as well as investors looking for cashflow properties. His site provides a free search of the Austin MLS along with a blog covering news and statistics on the Austin Texas real estate market.
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Jun. 11, 2008 - Neighborhood Profiles – Southwest Austin

As the Austin Texas real estate market expands in all directions, areas we used to think of as “way out there” are not only seeming closer, but are getting their own infrastructure. Maple Run in Southwest Austin is just one of those areas. Located south of William Cannon, north of Slaughter, west of Brodie and east of Mopac, this little oasis offers quiet streets, attractive and affordable housing, burgeoning businesses and is a hop, skip and a jump to one of the city’s cleanest, newest and nicest parks.

Each street in the area seems to have its own personality. The Deer Park subdivision is full of brick homes, with meticulously manicured gardens and lawns. These folks do a magnificent job with holidays – their Christmas lights are worth a trip, and Halloween is always scary! A few blocks down, you will find a more relaxed atmosphere, maintained just as nicely, but with a more casual feel. The busiest street is Copano, which is not busy at all! The houses in this area can run the gamut from a 3,000 square foot two story brick home with a pool to a 1200 sq. foot one level 2 br/ 2 bath with a nice yard. Many of these homes back to a greenbelt – nice and quiet.

Brodie Lane, one of the main north-south thoroughfares of the area, is full of convenient businesses closer to Ben White, but as you follow the street south of William Cannon heading down to Slaughter you find new business popping up almost every day. Take the intersection of Alexandria and Brodie – you have the best Cajun food and live music in town, an Austin Regional Clinic, Love Pet Hospital, Shipley’s Donuts, a florist, nail salons, a JiffyLube, and more! Just up the road is a Montessori school, just down the road is the Kid’s Zone preschool and daycare. Austin Telco and Advance Auto just came to the area, although the property adjoining them still has cattle on it – a truly Austin juxtaposition.

Families will love the Longview playground and park located at the eastern end of Harper’s Ferry. Swings and a play structure perfect for toddlers on up to school age are in great condition, and there are lots of trees for shade. A big field is perfect for kicking the ball or throwing the Frisbee, and there is a basketball court right up the hill. If you are looking for a little more, just head over to Dick Nichols – just west of Mopac off Davis. The toddler structure here is brand new, and the bigger kids one is in great repair. Picnic tables, a fountain for splash play, volleyball courts (or the world’s largest sandbox, depending on your age), tennis courts and a hike/bike trail can all be found here. Their pool is one of the best, with separate shallow and deep ends, plus a toddler wading pool – all crystal clear and in excellent condition.

It might seem “way out west,” but Southwest Austin is only 15 minutes to downtown, and the bang for your housing buck make it well worth considering.

Escapeso Realty helps buyers looking for properties in the Austin Texas real estate market. Their site allows potential to home buyers to search the Austin MLS and read about the latest market updates on their blog about Austin real estate along with info on mortgage interest rates
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Jun. 11, 2008 - How to Hire a Contractor

There are some home renovations that really should be left to a professional. Finding a good contractor that is trustworthy and dependable can sometimes be a challenge, but with some preparation it can be done.

Before accepting to work with a contractor, ask for a list of references. Ideally, the list will be fairly long, and not rigged towards a few happy customers. Call these references, skipping around from recent customers to older ones to see how the work has held up. If possible, visit one of the remodel sites in person. Ask about the quality of the work, and if the contractor stayed on budget and finished in a timely manner. Also, check how the contractor dealt with problems that arose, and if the reference would use him again.

A good contractor is one that the client feels comfortable speaking with. He should have clear solutions to your remodeling ideas. The contractor may be in your house for an extended period of time, and some problems will arise, so having good chemistry with this person is key to having a positive remodeling experience.

After getting a few different bids, do not base the job on lowest price alone. Read the details of the bid. It’s possible that if the cost for materials is cheaper than other bids, it could be an inferior product that won’t last. If one bid is significantly lower than the others, the contractor could desperate and his workmanship may be poor.

Make sure that the contractor is a professional. Verify he has workman’s compensation insurance in case a worker is injured in the home, and general liability insurance for any damage that might accidentally happen to house. Major remodeling improvements legally require a building permit so inspectors will check over the contractor’s work. Make sure the contractor applies for these permits. Certain industries allow contractors to get professional designations, such as Certified Remodeler and Graduate Certified Remodeler. Check if the contractor is part of any trade association, as they are more likely to be keeping up with current industry standards and practices.

Once a contractor is chosen, it’s good to have a contract written up so there is no confusion during the actual remodel. The contract should have the starting and projected ending dates, as well as a payment schedule which details when payment is due, and how much each payment will be. Usually, certain amounts will be paid after particular milestones are completed in the project. Also, have the contractor put any warranties he offers into the contract. Outline which duties the contractor or the homeowner will perform, such as cleanup when the job is completed, in the contract to avoid butting heads when the time comes.

Though a contractor may be needed for large remodel jobs, a homeowner can save money along the way by doing some of the low level work, such as painting walls or ceilings. Some contractors will allow the homeowner to pick up materials, such as lumber, toilets, flooring, etc, which would have been added as a surcharge on the final bill.

After some research, well thought out questions, and open communication, landing the perfect contractor for those large remodeling jobs can be achieved.

Ki operates as a real estate broker in Austin Texas. His site is filled with information about Austin real estate along with providing visitors information about mortgage interest rates along with a graphical search of the Austin MLS.
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Jun. 9, 2008 - Restaurants with Playscapes

One of the challenges we faced as new parents was what to do on those nights when you just need to go out and grab a quick bite – no time to plan for a sitter or make reservations. Nothing in the fridge, too tired to slice and dice, or an all too common scenario in our household: “Wait, I thought YOU were doing dinner tonight!?” When our child was a baby, this was fairly easy – pop him in the car seat, pop him into a high chair, and keep the zwieback coming. As he got older, it got harder. We of course insist on good manners, but what three and half year old (or four, five or six, for that matter) can sit perfectly still and quiet, even with crayons and a funny menu?

Lots of them you say? Good on ya! Not ours! To preserve the family dining night out tradition, we learned quickly that a place with a playscape could accommodate our need for dinner out with a three year old’s need to get his ya-ya’s out. Austinites are particularly lucky in this regard, because so much of the year is outdoor weather for us, and so many great places for family dining are out there. Here are our current favorite places to eat that have playscapes.

Southpark Meadows: I had, shall we say, “issues” with finding good food and play in a shopping center, but this place rocks. The playscapes are HUGE and inventive – woven through enormous shade trees, with slides galores. There is a fantastic little area where water shoots up from the ground – so perfect for letting the little guys cool off. They even have live music outside, periodically. The best part, though, is that the playground is in the center of a bunch of GREAT restaurants, most of which have patio dining so you can watch them play while you linger over your food. Mama Fu’s does great pan-asian good, Austin Java is perfect for lunch or brunch, Waterloo Ice House will fill your burger needs, and at Jason’s deli you can even get a box lunch and sit on a bench under the trees. I35 and Slaughter, across from Supertarget

Freddie’s Place: Freddie’s makes one of the greatest burgers in town, and its outdoor area is right next to a babbling brook, under big oak trees. Their playscape isn’t huge, but they have around 5 picnic tables right next to it, all with great sightlines to the stage, so you can integrate your meal, play and music. The atmosphere is South Austin cool, and the food is terrific, and although parking can be an issue, it is worth it to get their early and let the kids play while you and your friends (or spouse, unless , as in my case, he’s on the stage) catch up on adult talk. 1703 S 1st St Austin, TX 78704 (512) 445-9197

Patsy’s Cowgirl Café: Patsy’s playscape is outside of the dining area, but it is still a great help in burning off steam. Sometimes we get a drink and hang out while he plays and slides and runs around with the other kids that are bound to be there. The décor inside is really fun, and since we are usually there to see a band, we can usually work it to where he starts winding down and wanting dinner as the music starts. 5001 E. Ben White Boulevard, Austin TX 78741.

If you go out to eat and bring the some children along it always nice to have a place for the kids to run around. This article details which restaurants in Austin provide playscapes for the kids.

Ki runs a site focused on Austin real estate which has a search of the Austin MLS along with a Austin related updates on his Austin real estate blog.
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Jun. 9, 2008 - Austin Hot Sauce Festival

With almost two decades under its belt, the Austin Hot Sauce Festival is a time-honored tradition featuring some of the most defining characteristics of life in Austin: hot sauce, hot weather, live music, great food and a fantastic way to give back to the community.

A major fundraiser for the Capital Area Food Bank, the festival boasts free admission, with a donation of three healthy, non-perishable food items or a cash donation to the Capital Area Food Bank of Texas. Always held in late summer, the weather is guaranteed to rival the sauces in hotness, but this popular event consistently draws more than 15,000 spectators to Waterloo Park in downtown Austin - this amounts to a sizeable donation to one of the most community-centric and necessary non-profits in town.

The heart of the festival is the hot sauce competition. The contest, with separate judging for individuals, restaurants, and commercial bottlers, is divided into three categories: red, green, and specialty variety. The festival attracts as many as 350 entries, who each provide a quart of their entered hot sauce – that makes over 100 gallons of hot sauce being consumed annually at the festival itself, let alone all the jars available for purchase. Combined with over 650 lbs of tortilla chips, the sauces are available to be sampled by all participants. The sauces are judged, however, by respected area chefs, and as this festival’s reputation has grown, so has the competition, which is as fierce as the heat.

In addition to sampling the finest hot sauce in the area, spectators can partake of food from many local restaurants, many of whom have entered, and won, the hot sauce competition. The food provided often highlights or incorporates the salsas, and although weighted towards Austin’s renowned Tex-Mex, interior Mexican and BBQ, other ethnicities are often represented. Restaurants that have participated in the past include Curra’s, Dona Emilia’s, Matt’s El Rancho, Ruby’s BBQ, Santa Rita and Suun Garden Shaved Ice.

What would an Austin festival be without live music? Again focusing on our local talent, the festival boasts quite a cross-section of musical genres, with kid-friendly bands, country, jazz, conjunto, and many others. Bands who have played at past hot sauce festivals include, Loose Cannons, the South Austin Jug Band, Los Jazz Vatos and the Gourds.

Getting to try the cream of the salsa crop, eat the best food Austin has to offer, dance to the grooviest bands in town and make a contribution to a worthy cause is one of the highlights of an Austin summer. The Austin Chronicle Hot Sauce Festival is an institution, and one that will face its next two decades in the same spicy fashion.

Escapeso Real Estate helps individuals looking for Austin real estate. His site features a powerful map based search of the Austin MLS along with information on mortgage interest rates.
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Jun. 8, 2008 - The Travis Heights Neighborhood of Central Austin

Travis Heights is a centrally located neighborhood in one of Austin’s most esteemed zip codes, 78704. The neighborhood’s proximity to downtown and Lady Bird Lake makes it a desirable place to live, and the new Emma Long Center for the Performing Arts is just a couple of blocks north of the area, right across Barton Springs Road. Auditorium Shores, a lovely outdoor amphitheater which hosts festivals and concerts is adjacent to the Long Center, and is also a short walk from the Travis Heights neighborhood. Easy access to the Lady Bird Lake hike and bike trails as well as access to the Zilker greenbelt is also advantageous for residents of the area. The neighborhood dates to the turn of the century, with dramatic growth during the 1920s and 1030s, and many historic homes from the period are still standing. One of the neighborhood’s most influential and well-known residents was John Henry Faulk, and his boyhood home was on the spot where Green Pastures, a beautiful, historic restaurant with gorgeous foliage and grounds is currently situated. Another well known previous resident, Charles Whitman, also grew up in the Travis Heights neighborhood, and went on to infamy as the Tower sniper in the 1960s. The neighborhood boundaries are generally considered to be South Lamar, South Congress, West Oltorf, and Barton Springs Road, in the heart of south-central Austin. The largest institutional development in the neighborhood is the Texas School for the Deaf, which encompasses 65 acres of land and was established in 1856, and is surrounded by South Congress, South First, Barton Springs Road and Elizabeth Street.

Due to the Colorado River’s frequent floods prior to the construction of dams which help control the river waters, the land was very inexpensive, thus a very diverse group of citizens populated the area, and many churches cater to a specific ethnic group, such as the St. Anne African Methodist-Episcopal Church and the nearby Goodwill Baptist Church, both of which are on Newton Street. A small group of Hispanic families settled in the neighborhood around 1940, when the San Jose Catholic Church was founded at the corner of Mary Street and South Third Street. The stone mission-style church is currently called Holy Name Of Mary Orthodox Church, and the Church still has a flourishing parish, many of whom are descendants of the original settlers.

Since the recent development of the SOCO and SOLA entertainment and shopping districts, which are respectively on South Congress and South Lamar, the residents of the neighborhood have even more access to restaurants, vintage shops, nightclubs, coffee shops, and antique dealers. Some of Austin’s most well-known institutions are still located on South Congress, such as the headquarters of the local newspaper, the American-Statesman, and a few boot and saddle shops, such as Allen Boots, which has been in the area for years and years.

There a quite a few very eclectic shops, such as Lucy in Disguise in Diamonds, a costume shop, and Bohemia, a great vintage store, as well as the St. Vincent DePaul resale shop, which is run by Catholic charities and has a little bit of everything.

There are many churches and schools, coffeehouses, and nightclubs nearby, and the restaurant row area of Barton Springs Road is just a half mile or so east, and includes such well-known eateries as Shady Grove, Romeo’s, Green Mesquite, Chuy’s, and Austin Java. Patrons can enjoy frozen custard at Sandy’s, an Austin landmark, or Italian food at Vinny’s, both of which are even closer to the neighborhood, on the east side of Lamar on Barton Springs and in easy walking distance for most residents.

Even downtown itself is a short walk across the sidewalks or pedestrian bridges at both Congress and South First Street, which continues from Guadalupe Street across the river, and the whole neighborhood is also accessible by city transportation such as the Cap Metro busses and the ‘Dillos, which are free. The Travis Heights neighborhood is one of your best bets in the Austin area for the quality of life it offers both visitors and residents.

Ki works as a realtor in the Austin real estate market. Vistors to his website can use it to search the Austin MLS. Ki also provides regular market updates on his Austin real estate blog.
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Jun. 7, 2008 - Austin Museum of Art

823 Congress, Austin TX 78701 // West 35th Street, Austin TX, 78703 // 512-495-9224

This is truly a museum for the casual and creative Austinite. With two locations and loads of interesting exhibits and programs, AMOA is a great cultural destination for students, adults, and even parents and caregivers of young children.

The downtown location is a sleek and modern space, while the Laguna Gloria campus, AMOA’s original home, is housed within a 1916 Italiante villa. The primary home of the AMOA Art School, Laguna Gloria is located on property once owned by Stephen F. Austin, and was the residence of the legendary Clara Driscoll. Overlooking Lake Austin, and with 12 acres of beautiful grounds and gardens, Laguna Gloria is worth a visit purely on historical merit. Both locations have permanent and changing exhibits, and both have space available for private functions.

One of the hallmarks of both AMOA locations is the informal structure and feel. No stuffy, hallowed grounds here – instead you find welcoming, easy to navigate floor plans full of surprising and interesting exhibits. You can tour at your own speed, reading the descriptions that are mounted next to each exhibit, or you can book a gallery tour, which are available with different age groups in mind. The compact size of the exhibit space adds to the experience – the visitor can spend time with each exhibit, getting more from the experience than one where you rush through to make sure you see it all. The exhibits are right out there – something to keep in mind when you bring kids – there are no barriers between fast little critters and the actual exhibit.

Still, the AMOA makes a point to be accessible and interesting to children as well. In addition to offering a number of free events for families, the museum has a permanent FamilyLab. The FamilyLab is a fantastic experience for kids of all ages. It is a hands-on, interactive place to make art with creative and colorful items supplied by the museum. They also have children’s books on hand, along with bean bag chairs, in case your little one just needs a cuddle. The mirror tunnel is endlessly fascinating, and all activities in the FamilyLab are offered at no additional cost to museum admission. The second Saturday of every month AMOA offers a reduced admission for families, with art instructors leading families in creating art projects to take home.

AMOA offers art classes for children and adults, with a limited number of scholarships available. Class themes include ArtPlay, ArtABCs, Life Drawing, Watercolor, Children’s Book Illustration, and many, many more. They have for the Art School. They offer periodical education programs for teachers, docents, adults, children, and groups. They offer a myriad of interesting events, sometimes pairing visual arts with music, both for their valued members and for the public. Events include their annual fundraisers, the Art Ball in June, and their fantastically popular international food and wine tasting event, La Dolce Vita. Their museum store offers cups, shirts and other items with their distinctive logo, as well as art-inspired gifts.

Ki works as a realtor in the Austin real estate market. He keeps visitors updated on current mortgage rates along with providing a graphical Austin MLS search.
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Jun. 7, 2008 - Bats In Austin Texas

One of the most unique and celebrated attractions in Austin is a naturally occurring phenomenon and costs absolutely nothing to enjoy. The 1.5 million Mexican Free-tailed bats that live under the Congress Street Bridge from March to October emerge at dusk in a breathtaking display. This nightly (almost) occurrence can be viewed in a number of different ways, and is the kind of event that makes living in or visiting Austin so memorable.

Bats are much maligned and misunderstood in society. Often associated with vampires, belfries, and bad hair days, the bat holds a mystique of fright, and is tragically misunderstood. Although bats, like any other mammal, can carry rabies, and no one should ever touch a bat in nature, bats are an important part of our ecological system. According to Bat Conservation International, the Austin bats eat up to 20,000 pounds of insects every night!

Austin’s bats migrate every spring from Mexico, and have made their home under the Congress Street Bridge by the thousands since 1980. Primarily female, the bats come to Austin to have their pups, usually in early June. They remain in residence under the bridge usually until mid-October, and each night they leave their roost to forage on the mosquitoes and flies and other bugs of Austin and its environs.

Two free viewing area provide different vantage points. Just under the bridge on the south side of the river is a dedicated park-like area provided by the adjacent Austin American-Statesman newspaper offices. Visitors can bring a picnic dinner on the grassy hill, and can read the posted information on the bat population’s history and future. Others prefer to walk to the top bridge and secure a spot overlooking the river’s eastern horizon. As the sun sets, soon the crowd will notice one or two brave bats flickering out into the dusk. The amount accelerates, and soon the air is thick with bats swirling out into the night. Visitors close to the bridge will get up close and personal with these fascinating but fast-moving creatures, watching them flutter by. Those with a view of the horizon will see columns and whorls of these little cuties silhouetted by the deepening shades of the twilight sky.

A number of boats are available to rent for bat viewing, from private riverboats to public platform boats, and the errant kayak, rowboat or canoe is sometimes found rising and falling with the river’s flow near the bridge. Restaurants and hotels along the river also have patio dining with an excellent view of the show.

Although the best viewing is later in the summer, when the new pups have grown and begun to join the nightly flight, the bats put on a spectacular show most every night from spring to fall. Bat Conservation has a kiosk on the bridge with wonderful bat-related souvenirs and educational items, and they often have a naturalist on hand to explain further the wonder of Austin’s unique and awesome Mexican Free-Tailed bats.

Living in Austin Ki helps buyers and sellers interested in the Austin real estate market. His site provides updated information on mortgage interest rates along with a free search of the Austin MLS.
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Jun. 7, 2008 - What Is Going On With Mortgage Rates This Week

Mortgage Interest Rates

Current Mortgage Rates
Mortgage Rate Trends


Rates on 15 and 30 Year Fixed loans were pretty much stable this week. Rates on 5 and 1 year ARMs both fell. With 1 Year ARMs falling from 5.22 to 5.06. This is the lowest 1 Year Arms have been since early March. Its a little wierd considering banks are losing a lot of money on ARMs from people going into foreclosure when their ARMs reset. So one would think that banks would be discouraging people from getting 5 and 1 year ARMs. But instead with a full point difference between 30 Year Fixed and One Year Arms they are doing exactly the opposite.

June 5,2008
30-yr 6.09 15-yr 5.65 5-yr ARM 5.51 1-yr ARM 5.06

May 29,2008
30-yr 6.08 15-yr 5.66 5-yr ARM 5.62 1-yr ARM 5.22

May 22,2008
30-yr 5.98 15-yr 5.55 5-yr ARM 5.61 1-yr ARM 5.24

May 15, 2008
30-yr 6.01 15-yr 5.60 5-yr ARM 5.57 1-yr ARM 5.18

May 8, 2008
30-yr 6.05 15-yr 5.60 5-yr ARM 5.67 1-yr ARM 5.29

May 1, 2008
30-yr 6.06 15-yr 5.59 5-yr ARM 5.73 1-yr ARM 5.29

Using our mortgage calculator lets run some numbers and look at what the rates would translate into today and a month ago.

June 5th
30-yr $1210.69
15-yr $1650.11
5-yr ARM $1136.83
1-yr ARM $1080.98

May 8th, 2008
30-yr $1205.53
15-yr $1711.46
5-yr ARM $1157
1-yr ARM $1109.36

A few weeks ago I wrote about how it made sense to get a 30 Year Fixed over a 5 Year ARM because there was not a big difference in the monthly mortgage payment you would be facing . As of today that is no longer true. On a 200k loan there is a $73.86 difference in the monthly mortgage payment between a 30 Year Fixed and a 5 Year ARM. I still don't like ARM's because your mortgage payment can reset when you are not ready for it. For instance I have heard stories of people losing their jobs a week before their mortgage interest rates resets to a higher number. But with the large difference in today's rates makes it hard to ignore the cost savings one would get with a 5 Year ARM. If you consider getting an ARM I would advise saving the difference of $73.86 a month and setting that aside for when the ARM resets. If you sell before your ARM resets you can just consider that savings a bonus.

Escapeso Realty is a small independent brokerage covering Austin Texas real estate. They have a graphical Austin MLS search and a blog with market updates on Austin real estate.
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Jun. 6, 2008 - Easy Ways To Make Your Home More Energy Efficient

The average home spends a whopping $1500 annually on energy costs—an energy bottom line that is much bigger than it needs to be, because a significant portion of that energy is wasted and lost. The good news is, changing just a few simple things around your house can make a big difference and save a lot of energy—and money.

More than 10% of a home’s energy is consumed by light bulbs. By changing from standard incandescent bulb to compact florescent bulbs (CFLs), you can cut that consumption dramatically. A CFL uses 2/3 less energy and comes in a variety of styles, shapes and sizes. Although the initial cost is a little higher than the traditional bulb, a CFL lasts twice as long and saves more than enough money in energy costs to pay for itself twice over.

Another way to save some money and energy is by using ceiling fans. Circulating the air in your home allows you to set your thermostat higher in the summer and lower in the winter. Energy Star rated ceiling fans do the job even better, moving air more efficiently and using less energy than traditional ceiling fans.

Insulating your home is another way to stop energy loss. By checking the seals around doors and windows, you can prevent leaks and drafts that make your home inefficient by replacing old, worn-out weather-stripping and caulking. Adding door sweeps beneath outside access doors also increases insulation. Remember, windows and doors aren’t the only place air leaks can occur. Also make sure vents, recessed lighting and the attic accesses are properly sealed.

Planting shade trees and wind breaks (such as evergreen trees) in your yard can also help with heating and cooling your home, in addition to beautifying the earth. All it takes is a little planning and the results can make a big impact on your energy bill. Shade trees should be planted on the sunny south side of your house, no closer than 15 feet to your home (otherwise the roots of the tree can cause problems with your homes foundation). Windbreaks are most effective on the northwest side of the house, planted in staggered or double rows.

These are just a few of the multitude of easy ways you can lower your energy consumption. There are many more, including unplugging unused appliances, turning off a light when you leave a room, and using cold water to wash your laundry. By following some of these simple tips you can make the planet a better place by using less energy and put some extra money in your wallet.

Ki is a realtor in Austin. He has a site about Austin Texas real estate which includes a graphical search for Austin Homes. Ki also authors a blog covering Austin real estate.
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