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October 2008

Oct. 29, 2008 - The Recent Introduction Of Raspberry Ants To Texas

It's been years since the red imported fire ant first made an appearance, and the situation is still not entirely under control. Now a new species has arrived. They are known as `crazy raspberry ants' and they are concentrated in 8 counties in and around Houston. The ants have been in Texas since 2002, but their growth has exploded in the past year, with three more counties added to the list of those already infested.

The ants are called "crazy" because they scurry about in a seemingly random pattern, and they're called `raspberry' not for their appearance, but for Tom Raspberry, the pest controller who first discovered them six years ago.

Unlike the much-reviled fire ant, the crazy raspberry ants don't sting and their bite is relatively inoffensive. But this doesn't mean these ants don't cause problems. What they lack in bite, they make up for in sheer numbers. When crazy raspberry ants infest a property, they tend do so in spectacular fashion. An infestation can number in the billions of ants, and once an infestation is established, property owners find them extremely difficult to control.

Usually the size of an ant colony is held in check by other colonies of the same species--all of them competing for the same resources. If an ant from one colony encounters an ant from another, they will start a fight, often to the death. Colonies may also mount massive raids against one another. No so with the Raspberry ants. Different colonies of raspberry ants are not hostile to each other, but instead treat one another as if they were nest mates. This means that Raspberry ants throughout Texas are just on big happy family, creating what is in effect a single, enormous, statewide "super colony." Without checks from other members of their species and without any natural predators, the Raspberry ants can achieve an almost total environmental control.

When the ants enter homes or industrial sites, they're often drawn to the warm buzz of electrical equipment. Their diminutive size, about 3 mm, means that when teeming masses of them crawl across a circuit board, they can fall between the spaces of electrical elements, closing the loop and shorting out connections. They have damaged pumping stations, fire alarms, and personal computers. They've even made an unsuccessful play for NASA's Johnson space center.

It's clear that the crazy raspberry ants are having an impact on the environment. They kill many other insects, including fire ants and snakes, which has earned them some friends. However, they have also been reported to overwhelm newly hatched birds and small mammals.

Still, much more research needs to be done to determine the lasting environmental consequences of their explosion. One of the basic problems of invasive species is that other species in the regions have not evolved to deal with them. So they can severely affect the numbers of resident species that live in the area. Still the ants seem to have fallen into a regulatory hole.

So what's being done to control these ants? Bryan Black from the Texas Department of Agriculture says that these ants can be controlled using Termidor, a pesticide used to control termites. Recently, at the request of Tom Raspberry, the TDA has expanded labeling of this product to allow pest controllers to use it in significantly larger quantities when combating raspberry ants.

Ki is a Austin real estate agent. His site has a search of the Austin MLS along with general information on the Austin real estate market along with current stats on mortgage rates.
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Oct. 29, 2008 - The Central Texas City of Georgetown

Georgetown, Texas was established in 1848 by George Washington Glasscock on a fork in the San Gabriel River. Glasscock donated the fertile land, replete with numerous sources of clean, clear water, and the city became the seat of Williamson County. Until the mid-1800s, the area had primarily been inhabited by the Tonkawa Indians, and farming was a common source of income after the arrival of the settlers, as was the timber and logging industry.

The community remained mostly agrarian until the late 1800s, when the railroad was built, and about the same time, Southwestern University was established in the small community. The Chisholm Trail, which was used to transport cattle from Texas to Missouri and Kansas, also ran through the heart of Georgetown, so the cattle industry also provided jobs for settlers, along with cotton farming.

A large flood damaged the community in 1921, and efforts to control flood waters eventually led to the dam which created Lake Georgetown, which was finally complete in 1979, when the lake was officially opened for public use. Many of the city's historic homes were restored after the flood, and the downtown area of Georgetown reflects the Victorian style popular at the time, especially on historic Main Street. The Beaux-Arts Williamson County Courthouse, which dates to 1911, is considered the centerpiece of the historic downtown district.

Georgetown is also a very popular community for retirees, and the Del Webb retirement community of Sun City boasts numerous residents of retirement age; the area is quite popular with retirees due to its temperate weather, country flavor and rural charm, yet its close proximity to Austin, with its many benefits and big city amenities.

In the census of 2000, the population of Georgetown was around 28,000 inhabitants, but by 2008, the population had expanded to nearly 50,000, and a population density of 1241 people per square mile. The square area of Georgetown is just less than 25 miles, and 2.1 square miles of the area is water, mostly the river and Lake Georgetown. At the time of the census, there were 7,711 families in the community, and 10,393 households. The majority of the population is Caucasian, at 85%, and the remainder is an ethnic mixture of Hispanic, African-American, Asian, and a smattering of other nationalities.

The per capita income in Georgetown is a bit over $24,000, and the median household income in the city is about $54,000, and there are about 10,000 housing units in the city. Roughly 31% of the residents have children under the age of 18, and around 65% of the residents of the local households are married, and the percentage of women in the community slightly exceeds the percentage of men.

The San Gabriel River meanders throughout Georgetown, and there are parks along the river in many locations, most with hike and bike trails that border the river in many places and offer park visitors the opportunity to recreate in a serene and natural setting. One of the most well known parks is named for the river: the San Gabriel Park, and there are also two popular art galleries in the downtown area, the Winberg Art Gallery, and the 8th Street Art Studio, along with another popular park, Founders Park.

There are also many popular restaurants and nightspots, as well as libraries, museums, and ample shopping in the community. One of the most popular attractions in the Georgetown area is Inner Space Cavern, which is a natural cave on the south side of Georgetown near Interstate 35.

With its abundant amenities, beautiful scenery, and rural charm, as well as its historic past and proximity to the metropolitan advantages of nearby Austin, Georgetown is truly a place that has it all!

Escapeso Realty helps buyers looking for properties in central Texas. Their site has a search of the Austin MLS along with information on Austin Texas real estate and Georgetown Texas real estate.
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Oct. 29, 2008 - Swimming Holes Around Austin

Trying to come up with things to do with out of town visitors in the height of summer? The Austin area offers a wide variety of activities to entertain even the most difficult audience. During the summer months, your primary goal will be trying to stay cool, and Austin and the surrounding area offers swimming holes a-plenty.

The iconic Barton Springs near the Barton Hills neighborhood is open from early spring to late autumn. Sometimes called the soul of Austin, this spring fed pool maintains a steady 68 degrees in all seasons. And don't forget to impress your visitors with a promise of seeing the extremely rare salamander that is only found in the spring and pool at Barton Creek.

The Deep Eddy Pool, near downtown in west Austin, boasts a huge wading area for the tiny people and water temperatures that never rise above 72 degrees. Throughout the summer, they host Splash Party Movie Nights, where family pleasing movies are played on a big screen while viewers float in the pool.

If you are willing to go a bit further afield, then you really should make a visit to Hamilton Pool, about 40 minutes outside of Austin off of Highway 71. The natural spring is found in a grotto that was formed when the dome of an underground river collapsed thousand of years ago. The result is a very family friendly and secluded swimming spot that seems like a fairy wonderland. Because the ecosystem around the springs is fragile, the park closes when the 100-car parking lot is full, so you must call ahead.

Further impress your guests by stopping off at the Salt Lick on your way home, renowned for what some would argue is the best barbeque in Texas. It definitely provides the proper atmosphere, located as it is in the middle of nowhere about 12 miles south of US 290 West. The menu includes brisket, chicken, ribs, sausage, and the ubiquitous peach and berry cobblers. Take note, however, that it is located in a dry spot in Hays County, so you have to bring your own alcoholic beverages.

Blue Hole, located in Wimberly, Texas, has been named one of the top ten swimming holes in Texas. The land was privately owned, but in 2005 was purchased by the village of Wimberly and is being developed into a regional park. Another spot appropriate for fairies, the Blue Hole is surrounded by old growth cypress trees and boasts a rare ecosystem of natural grasses, wildflowers, birds, reptiles and insects. And its proximity to downtown Wimberly means that after cooling off in the springs, you can proceed to shop `til you drop in one of the towns dozens of specialty stores and art galleries. Shops are open Monday, Thursday, Friday and on the weekends. Market Day takes place the first Saturday of the month from April through December, when more than 400 vendors put antiques, collectibles, arts and crafts up for sale.

Krause Springs, another stunning swimming hole great for families, boasts clear and shallow waters. Located about 30 miles from Austin off of Highway 71, the pool is listed on the National Register of historic places and is also shaded by large cypress tress. You can picnic and camp at the pool, and there are admissions fees.

Ki is a realtor in Austin Texas. He helps buyers looking in the Austin real estate market. His site has a graphical search for Austin homes along with information on recent mortgage rate trends.
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Oct. 24, 2008 - Adjusting To A Recession

Over the last year the US, once flying high, has fallen and face planted into a somewhat ugly recession. For people with steady jobs the fear is of course the dreaded pink slip. But as long as they can keep their jobs their paychecks in most cases will remain the same. For small business owners a recession is often felt in the pocketbook. With less people buying their goods and services their revenues and profit margins can start to sink. And it can be painful for a number of reasons. First many business owners have an emotional attachment to their business. When the business starts to flat line its hard to readjust to the new realities of your surroundings. If you are a restaurateur it might be hard to scrap plans for opening a new location across town even if the economic realties of the market make it clear that continuing ahead with previous plans is illogical. The second difficulty is that it's hard to readjust ones life to deal with a lower take home pay. So while a small business might see a 20% drop in revenue that could translate to a 40-50% drop in profits. And while you might have lived on a smaller revenue 10 years ago it's hard to go back to that. Living without regular out of states vacations is one thing going back to that point is even more difficult. And these somewhat harsh realties are what drive people to look for something, anything that can restore their business to its previous health and prosperity.

In some cases advertising in a recession can be a wise move to increase market share and take advantage of a bad market. But more often what I see is this.

"Our revenues are way down"
"That's horrible"
"Let's spend a ton of money on advertising and hope we can put this behind us"

The problem is that the difficulty for this business is not that they didn't spend enough on advertising last quarter. The problem is that we are in a world wide economic depression caused by billions of crappy loans real estate loans given out over the last few years. And yes everything is interconnected but putting out more ads for a local restaurant is probably not going to change this.

Simply put sometimes business owners make asset allocation decisions based on emotion instead of their current economic realty their business exists in. A few reasons that increased advertising might be a bad idea for your business.

A) The number of potential customers is decreasing
B) In many industries your competitors are increasing advertising to "spend their way out of a recession"
C) Increased advertising and decreased customers is a bad market to ramp up your advertising budget


Ok so if the answer is not doubling or tripling your advertising what is the answer? Here is my advice

1) Cut Expenses that are not needed. Comb through your budgets for extras you added during better times but are not needed.
2) Keep current advertising that is working. Whatever is currently providing you business I would stick with.
3) Cut advertising that is not working.
4) Adjust

Number 4 is probably the most difficult but important. If ones business is affected by the recession (and most are) it might be a good idea to simply accept the possibility of a reduced monthly income for awhile. I am not saying people should give up on their business or not attempt to increase profits. But during a recession it might be a good idea to keep working to achieve higher goals but at the same time when you are doing your monthly personal budget accept the possibility that a weakened economy often results in less customers and lower revenue. This means if you planned on buying a new car or taking an extra vacation it might be a good idea to change those plans.

In the end by operating in a logical manner a business can survive a recession and hopefully be in a position to flourish once the economy recovers.

Ki lives in central Texas. His website provides a guide to Austin Real Estate it also contains a search of the Austin MLS and updated information on Mortgage Rates.
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Oct. 24, 2008 - Taylor, Texas

Taylor, Texas, is a small city about a half hour's drive north of Austin near Interstate 35 and Highway 79, and the city was originally named Taylorville, in honor of Edward Moses Taylor, who was a well known railroad official. Taylor was founded in 1876 when the Texas Land Company auctioned lots in anticipation of the arrival of the railroad. The town was founded primarily by Czechoslovakian immigrants, along with mostly German and Austrian immigrants who purchased the land, most of which was being used by the railroad since the city was becoming a shipping point for cattle, grain and cotton.

In 1882, the town was incorporated, and a public school system was built, and in the same year, the Taylor, Bastrop and Houston Railway reached the small community, allowing for more trade. The city had about 1,000 residents at the time, although today, the population is estimated to be over 15,000 residents. In 1890, there were two banks in Taylor, along with a cotton compress, electric company, and a savings and loan, which was the first in Texas.

There were around 3,400 families in the city of Taylor Texas in the census of 2000, and just over 4,700 households, of which 36.9% had children under the age of 18, and 52.6% were married couples living together. The median income for a household in Taylor was about $38,000, and the median income for an individual was around $17,000 in the census of 2000. Taylor is in the county of Williamson, and the railroad still traverses through the city, although now it is passenger rail, Amtrak.

Taylor is located at the intersection of Highway 79 and Highway 95, and is dotted with numerous quaint, historic buildings, such as the St. James Episcopal Church and the Immanuel Lutheran Church, although many of the 19th century structures were destroyed in a fire in 1879. Some of these historic structures were renovated and restored, such as the Victorian House, which was the birthplace of Governor Dan Moody. Moody was well known for prosecuting the Ku Klux Klan and restoring honesty to state government after Ma and Pa Ferguson had both been governor and accused of corruption, and his re-structuring of government saved the state hundreds of thousands of dollars by eliminating the corrupt.

Nowadays, Taylor has many popular events and attractions, and one such well known event is the yearly Taylor Rattlesnake Sacking Championships, which are held every March. There is also the Moody Museum on 9th, formerly the Victorian House, which is the site of the home of former Governor Dan Moody. The downtown area of Taylor, especially Main Street, is replete with historical structures, including Taylor City Hall, which is on Porter Street, as well as the city library, which is on Vance.

Lodging in Taylor includes the Talbot Street Bed and Breakfast, the Hidden Cove Cabin, and the Rodeway Inn at Silver Creek, as well as the Blackland Farms RV Park and the Best Western Taylor, among others. For dining out, Louie Mueller's Barbecue,Bob's Backyard Cafe, and Snuffy's Grill and Bar all offer a choice of good eats, and golfers can choose between the Mustang Creek Golf Course in Taylor, or the Golf Club at Star Ranch in nearby Hutto, or even the Blackhawk Golf Club in nearby Pflugerville.

For a night out on the town, those interested in libations can try the Cactus Rose, the Brushy Creek Bar and Grill, or Randy's Ice House, along with the Over the Hill Beer Joint and Casper's. There are many fun things to do and interesting, scenic, and historic sights to see in Taylor, so drive the short trip and visit Taylor, Texas!

Ki is a realtor helping clients interested in Austin real estate. His website provides a graphical search of the Austin MLS along with free mortgage calculator
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Oct. 18, 2008 - National Bank: How to Fix the Housing Crisis for Less than 700 Billion

Recently the news has been dominated by developments with the 700 billion dollar bailout package, and rightfully so. 700 billion is an astronomical sum of money. The first problem is that the 700 billion dollar bailout adds a huge amount of money to the national debt. Not only that, some have hinted that the bailout is so large it could actually lower the US Credit Rating. The second problem is just as serious. There is no guarantee that the bailout will work.

The idea behind the bailout is that by taking on billions of dollars of toxic loans the government hopes to "influence" banks to start lending again. The past attempts of the government to "influence" banks have all failed. The fed lowered the fed rate to influence banks to lower mortgage rates. While the banks were appreciative of lower rates they did not lower mortgage interest rates. In fact after the fed cut rates the banks increased mortgage rates because they saw negative prospects in the housing market. In a similar way, after the US government takes over the toxic loans away from them the banks could continue to see negative prospects in the housing market and therefore would continue to have strict lending practices. The idea of spending 700 billion with no guarantees seems like a poor use of capitol.

When people hear the word "National Bank" the first thoughts are of a socialized banking system. A national bank would not replace the current banking industry. It also does not "introduce" government involvement into the banking industry. With the Fed influencing interest rates and the government rushing in to bailout every bank that runs into problems the government already has a large hand in the banking industry. I don't want to argue whether the government should have a role in the banking industry. Currently the government already has a significant role in the banking/mortgage industry. My argument is that if the government does have a role it should be effective and cost efficient.

A national bank would be a cheaper and more cost effective way to steady the financial markets. To understand how a national bank would work lets first talk a little more about what is currently causing the housing crisis. The mortgage market operates a little like a basketball game. Lenders go from one extreme to another. For awhile lenders will lend to anyone that walks in the door with a pulse. During these periods lenders accept less and less qualified applicants in an attempt to gain market share. Then the lenders get freaked out (often because someone realizes they have been giving out billions in loans to unqualified applicants that are unlikely to pay their mortgages) and lenders run to the other extreme and practice extremely restrictive lending practices (the insurance industry sees the same cycles but that is another topic). If you haven't already guessed currently we are in the second scenario with lenders practicing extremely restrictive lending practices. The problem with the second situation is that such extreme changes shocks the housing market and basically causes a financial crisis. The banks are in a catch 22. If collectively the banks don't lend the housing market will continue to deteriorate. But no one wants to lend because they are worried the housing market will continue to deteriorate because collectively they are not lending. It's kind of like at a party where you don't want to be the first person to jump into the pool because if no one else does you look foolish. Substitute looking foolish with going bankrupt and you kind of see where banks are coming from.

The great depression and the S&L crisis were both basically examples of this same problem. Initially during the great depression the conventional logic was the government should not intervene. As the stock market continued to drop (it dropped over 80% in less than a year) and people realized how bad an economy can get (pretty bad) the idea of government intervention seemed more palatable compared to the alternative.

So now during periods where lenders are freaked the government attempts to "influence" lenders. The problem is its extremely expensive. Currently the government is taking on years and years of bad loans in an attempt to "influence" lenders to loosen their current restrictive lending practices for the next 6 months to pull us out of the housing crisis. This is kind of like trying to influence your local school to spend money on new textbooks by building them a new school. Not only is it ridiculously expensive after you build the new school you have no guarantee they will buy the textbooks. It's not simply a poor use of government funds it's utterly outlandish.

So how would a national bank operate? During periods where banks are giving out loans to everyone that walked in the door the national bank would practice have average lending restrictions with interest rates slightly higher than what is available at most banks and give out very few loans. When the banks became ultra restrictive the bank would again have average lending restrictions. During these periods it would give out more loans.

So the government would not practice the outlandish lending practices we saw during the boom they would not be as restrictive as the banks are now. In fact this would probably do more to influence banks lending practices than the 700 billion giveaway. Remember how we talked about banks not wanting to lend money because no one else was lending money therefore making them nervous about the prospects of the housing market. Knowing that money would always flow provides some stability to the market. Also it would be much less expensive. Having the government provide some loans over the next 6 months with average restrictions during a low point in the market would be much better than taking on years of crappy loans given out during the peak of the market to very unqualified home buyers.

Would some banks go under? Yes. But you know what they should. Bailing out foolish banks that threw caution to the wind and had wildly risky lending practices almost guarantees that we will be faced with another housing crisis in the future. Instead we should allow some of these banks to die. First it prevents these banks without a sense of risk from causing these problems again. Secondly, it influences other banks to exercise more caution during boom times. The bailout sends a message to banks that during the boom they should ignore caution because the government will come in and take all their bad loans away like some kind of bizarre magical bad loan tooth fairy.

I realize this article might bother people that want the government to have no role in the banking/mortgage market. But if we accept that the government already has a role in the banking industry (the possibility of the government taking itself out is pretty much nill for the next decade) to stabilize markets at the least it should do so in a way that is effective and cost efficient.

Escapeso Realty is a small company in central Texas. Their site has up to date information on the Austin real estate market. It also has a search of the Austin MLS for visitors and a tool that tracks mortgage interest rates.
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Oct. 18, 2008 - The Historic Moonlight Towers in Austin

Most visitors to Austin notice the unusual streetlights strategically located throughout the city known as the moonlight towers, but most are not aware of the history of the towers. Probably the most well known of the moonlight towers is the one in Zilker Park which is used every year to represent a huge Christmas tree, when it is encircled with multi-colored lights and can be seen from miles away.

There are actually 17 moonlight towers in and around Austin, including the Zilker tower, and these lights have been in use since the late 1800s, when Austin purchased the lights from the city of Detroit. In 1894, 31 used mercury vapor lamps were installed throughout Austin, and at the time, these types of lights were used in many cities across the country, but Austin is the only city still using them today.

The lamps, which are perched atop wrought iron posts, give off a distinctive pinkish-yellow light, and the lamps illuminate a 3000 foot circle of ground. Even thought the lights appear to be one large lamp, they are actually made up of 6 carbon arc lamps, and the lamp poles are actually 165 feet triangular posts made of cast and wrought iron.

The 100 year anniversary of the moonlight towers was celebrated in Zilker Park in 1995, and some of those who attended the anniversary event still have the custom made shirts which were available for purchase at the event, with an original artist's rendition of the lamps on the front and back of the shirts, including the date of the commemoration of the lights. These shirts are considered collector's items now, and the lamps themselves are listed on the National Register of Historic Places.

Most of the moonlight towers are situated in or around the older residential neighborhoods which encircle the downtown area, such as Clarksville, Speedway, Travis Heights, and the Zilker Park neighborhoods, but some are actually located in the downtown area itself, such as the one that is located at Guadalupe Street and West 9th. During the time of the 100 year anniversary of the lights, all of them were taken down and restored one at a time and then replaced in their original location, and even though there were originally 31 lamps, there are now only 17 in operation.

Each moonlight tower is held up by a fifteen foot pedestal which is encircled with guy wires and a network of cables, and the lights are changed and maintained by the use of a ladder which is affixed to the towers. Each tower has a commemorative plaque as well, with a brief history of the lights engraved on the plaque. The lights have been in continuous operation for over 100 years, and during that time, the lights have only been turned off twice.

The first time they were turned off was in 1905 when the lights were unlit for week during a dispute between the members of the city council and the Water and Light Commission. The second time they were turned off was in 1973, when the national energy crisis required the city to turn them off to conserve energy.

The moonlight towers are another example of the uniqueness of Austin, as well as Austin's intention of preserving our heritage and honoring its historical significance. Many people travel to Austin to see the annual lighting of the Zilker Tree, which includes a yearly celebration of the Zilker Moonlight Tower, so be sure to visit Zilker during the holidays and check out the beautiful, tall, lighted tower, which is lit to resemble a tree, or drive through the downtown and surrounding neighborhoods and take a look for yourself at these legendary lights!

Escapeso Realty helps buyers and sellers in Austin Texas. Their site is filled with stats on the Austin Texas real estate market. Additionally their site has a free mortgage calculator and a search for Austin homes.
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Oct. 18, 2008 - The Rosedale Neighborhood

During the 1800s, the neighborhood now known as Rosedale was farm and dairy land, and even later, in the early 1900s, the area was used primarily for plant nurseries and florist shops, and remnants of those days remain. This lovely area, which retains the look of abundant growth, is still heavily covered with foliage, trees, shrubs, and flowers, and is also quiet and peaceful.

Most of the homes in the Rosedale neighborhood were built in the 1930s and 1940s, and are unique and historic, with numerous cottages, wooden bungalows and brick homes. The Rosedale neighborhood is located in the northern part of central Austin, and is bordered by Lamar on the east, Shoal Creek to the west, North Loop/Hancock Drive to the north and 38th Street to the south.

One of the central features of the Rosedale neighborhood is Ramsey Park, which is a beautiful park with a large swimming pool, tennis courts, a playground, picnic areas and hike and bike trails, all under a canopy of leafy shade trees. There are roughly 1,200 homes in the Rosedale area, most with easy access to the park, as well as many other attractions, businesses, and neighborhood hotspots.

One of the biggest employers in the Rosedale area is the medical community, since Seton Hospital is situated on the southern border of the neighborhood, and the hospital is surrounded by various medical buildings, doctor's offices, and other health-related professional establishments, including Shoal Creek Hospital, which is just a block or so from the Seton complex.

There are also quite a few historic homes, many of which have been recently renovated, including the Seiders-Peterson home on 40th street, in the heart of Rosedale. There is also a local library in Rosedale, called the Yarbrough Library, which has a yearly holiday party and festival for residents, and the library is located on Hancock Street.

Another well-known yearly event in Rosedale is the annual 4th of July parade and carnival held at Ramsey Park, with games, booths, contests, and various kinds of foods and beverages, and the yearly festivities attract a throng of crowds every year.

The inhabitants of the Rosedale neighborhood are a diverse mixture of people, including young families, professionals, and older residents, some of whom have been in the neighborhood for years, and have raised children and grandchildren, many still living in Rosedale themselves.

There is also a popular art gallery in the Rosedale area called Images of Austin, and the gallery features the work of Mary Doerr and Ginny Findeison, and many of the works represent the various beautiful sites of Austin, as well as the southwest and central Texas. The gallery is located on Burnet Road.

Directly across Lamar from the Seton hospital area of Rosedale are two other prominent attractions for Austin residents, the Central Market complex, with its patio café, occasional live music, and various esoteric items, as well as a plethora of foods, wines, and other products, and the Heart Hospital, which gives residents even more access to top notch medical care. There are many small shops and boutiques in the Central Market complex, many with unusual and one of a kind selections of art, glass, jewelry, clothing, and other goods and crafts.

The Rosedale area blends the old, quaint, and historic aspects of Austin with the new, urban, professional aspects, and the mix is sure to please even the most selective individual, so for those who enjoy easy access to the University of Texas, downtown, and the Capital, as well as quiet, tree-lined streets with historic and unique homes, come to Rosedale, and you might just want to stay!

Ki is a real estate agent in central Texas. His works with people interested in Austin real estate. His site has a graphical search of the Austin MLS along with information on Rosedale Austin homes.
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Oct. 13, 2008 - The Travis Heights Neighborhood of Central Austin

Travis Heights is one of the most eclectic neighborhoods in Austin, and has a rich history. The neighborhood was originally an exclusive suburb south of the Colorado River, now known as Lady Bird Lake, and the neighborhood was established in 1913 by the Newning and Swisher families, along with General Stacy, for whom the parks in the area are named. The neighborhood was actually originally settled in the late 1900s, informally, but did not really expand or become fashionable until the early twentieth century, when it grew rapidly. The neighborhood's borders are generally considered to be I.H. 35 to the east and the lake to the north, and Oltorf to the south and Congress Avenue to the west, so the area is very accessible to the downtown area and the freeway, as well as the recently developed shopping and nightlife area referred to as "SoCo" for its location on South Congress Avenue.

Travis Heights is part of the well-known 78704 zip code in Austin, one that is considered liberal and artistic, and Travis Heights reflects these ideas with its numerous styles of architecture, and its whimsical neighborhood charm. Travis Heights is replete with twenties-style bungalows, among other styles of home-building, and the residents have fiercely objected to the demolition of this characteristic style, vehemently refusing to allow them to be replaced with "McMansions", or newly built, generic luxury homes.

This neighborhood is also very family-friendly, and the students of the area attend Travis Heights Elementary School and Fulmore Middle School, with high-schoolers attending Travis High School, or one of numerous parochial schools in the area which offer a diverse choice to residents. There are many restaurants on the borders of Travis Heights or in close proximity, including those on Riverside and Congress, as well as the "restaurant row" area of Barton Springs Road, just a few miles east of Travis Heights. Some of these restaurants include Vinny's, Guerro's Taco Bar, Vespaio, and less formal restaurants such as Thundercloud Subs and Freebird's, which are well known for sandwiches and burritos, respectively.

When Travis Heights was first settled, in the late 1800's, the only way to travel from the north side of the river to the south was by ferry, and originally, the large homes with detached garages, intended for carriages at the time, were considered country homes, and the homeowners now have frequently converted the original garages into garage apartments, many rented by U.T. students, which adds to the funky flavor of Travis Heights. The Art Deco style is also prominently reflected in the styles and colors of the homes, with a plethora of bright and pastel colors and glass bricks being featured, along with many other quirky details. Many homes are also built of brick and stone, and the streets meander through the gentle hills of the neighborhood, most of which are tree-lined and offer shade to the homes and streets, and also offer great views of downtown and the lake, as well as the trees and abundant foliage in the area.

There are two well known parks in Travis Heights, called Big Stacy and Little Stacy, and Big Stacy is home to a large, tree shaded pool, while Little Stacy has a wading pool, hike and bike trails, picnic tables and sports facilities, both being close to the Blunn Creek greenbelt which winds through the Travis Heights neighborhood.

The Stacy parks were named for General William H. Stacy, who bought 200 acres of land with his partner, George Warner, and began settlement of the neighborhood in the late 1800s around what is now called Blunn Creek, which was originally called Fowder's Creek. The area expanded rapidly after a stone bridge was built across the river, and residents had more convenient access to the neighborhood. Another park in Travis Heights is the Norwood Estates Park at Riverside and I.H. 35, and the park is primarily used as a place for residents to walk their dogs and allow their dogs to safely recreate with their owners.

Travis Heights is one of the most highly regarded neighborhoods in the Austin real estate market for a variety of reasons, including its proximity to various popular areas, its eclectic history, and its natural beauty and serenity. It is a great neighborhood to visit or settle down and raise a family, so keep Travis Heights in mind when considering a visit to central Austin.

Escapeso real estate is a small company in central Texas that helps people interested in Austin real estate. Their site provides visitors a search of the Austin MLS along with information on Travis Heights real estate.
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Oct. 13, 2008 - Mortgage Interest Rates Move Down

Mortgage interest rates moved down this week. 30 Year rates feel back below 6 dropping from 6.10 last week to 5.94. 15 Year rates all fell quite a bit going from 5.78 last week to 5.63 this week. Below are rates for the major mortgage products for the last few weeks.

October 9, 2008
30-yr 5.94 15-yr 5.63 5-yr ARM 5.90 1-yr ARM 5.15

October 2, 2008
30-yr 6.10 15-yr 5.78 5-yr ARM 6.00 1-yr ARM 5.12

September 25, 2008
30-yr 6.09 15-yr 5.77 5-yr ARM 6.02 1-yr ARM 5.16

September 18, 2008
30-yr 5.78 15-yr 5.35 5-yr ARM 5.67 1-yr ARM 5.03

One thing that stands out is Arms are looking less and less attractive. Arms are loans that start adjusting after a certain number of years. When Arms adjust upward and homeowners cannot make the new higher payments they frequently lead to foreclosure. It seems that banks are finally looking to make Arms less attractive. I have wondered why they didn't do this in the past. Looking at today's rates there is almost no reason to get a 5 year Arm over a 30 year fixed rate mortgage. Currently a 30 Year fixed rate mortgage is 5.94 and a 5 Year arm is 5.90. Considering the added stability of the 30 Year fixed rate mortgage the small difference in the interest rate hardly seems worth it. Let's look at what a mortgage would be using our free mortgage calculator for a 200k loan. We also ran the numbers for mortgage interest rates from last week and in the middle of the summer.

October 9th
30-yr $1191.39
15-yr $1186.27
5-yr ARM $1647.99
1-yr ARM $1092.05

October 2nd
30-yr $1211.98
15-yr $1664.03
5-yr ARM $1199.10
1-yr ARM $1088.35

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

So again looking at the rates it's pretty obvious the 5 year loan does not provide much of a benefit compared to a 5 year loan. If we look back to July 24th we can see that in general the difference between the 30 year fixed mortgage product and a 5 year arm is greater.

The other trend we have been seeing is the growing gap between owner occupy and investment loans. Since lenders are seeing more foreclosures with investment loans they have been charging a higher interest rate for investment loans. So while mortgage interest rates for owner occupy loans have fallen over the last month mortgage rates for investment loans have held steady. That said I think investment properties are pretty attractive right now in spite of higher interest rates. This is basically because we have seen prices falling more for investment properties and therefore making them a better bargain. The last question is what is going to happen with rates moving forward. I can't really say if they will go up or down but I expect rates to remain volatile as long as the rest of the financial markets remain volatile. Therefore, if you are looking at buying a property I would lock an interest rate early and monitor the rate afterward in case it drops and you can relock the interest rate.

Ki writes regularly about mortgage interest rates. His site has a tool that graphs mortgage interest rates. He also provides a free mortgage calculator and graphs of mortgage rate trends.

Mortgage Rates Widget
Historical Mortgage Rates
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Oct. 13, 2008 - Marble Falls, Texas

Marble Falls is a small city on the shores of the Colorado River in the Texas Hill Country. The city was founded in 1887 by General Adam R. Johnson, and incorporated in May of 1907. Marble Falls is located 47 miles northwest of Austin and 85 miles north of San Antonio, so it is centrally located and accessible from two large metropolitan areas. Marble Falls is in the middle of the Highland Lakes chain, and after the construction of the dam which created Lake Marble Falls, the marble falls themselves were no longer visible, unless the lake levels were lowered by the Lower Colorado River Authority, which caused them to be visible in certain locations.

Marble Falls, frequently referred to as the Gateway to the Hill Country, was originally founded when Adam Rankin Johnson traveled down the Colorado from Fort Mason to see the "great falls", as they were called at the time, and obtained land grants with the intention of settling near the falls, until he discovered the certificates were worthless and settled instead in Burnet with his wife Josephine, in 1861. Johnson had intended to help build a great manufacturing community, powered by energy from the falls, but after settling with his wife in Burnet, joined the Confederate army, and was later blinded by a rifle ball in combat.

Johnson later was employed by the land office in Burnet for years, where his reputed excellent memory and his son's help allowed him to overcome the limitations caused by his blindness and succeed in making land deals. In 1887, he finally purchased land in the Marble Falls area, and built a home for his family there. The home faced south, directly toward the majestic falls, and his family members gave him daily reports of their beauty so he could visualize them as he remembered them.

The community later thrived and became a cotton center, known as "The Blindman's Town", and Johnson's home, named Liberty Hall, was later purchased by Orphelia "Birdie" Harwood and her husband George, in the early 1900s, and was later named Harwood house, but is still referred to as Liberty Hall or Liberty House by some. The house was bought in 1946 by Bill and Eunice Hall, and their son, and is now a commercial building, but prior to their purchase of the home, "Birdie", as Mrs. Harwood was called, was elected mayor of the community, and while teaching at the local school, loaned supplies to one of her students, Lyndon Baines Johnson, who later went on the fame as a political force in Texas and later the president of the United States. Johnson along with his family, is one of the most notable early residents of Marble Falls.

In 1970, home mail service began in Marble Falls, and Horseshoe Bay, a beautiful lakeside resort replete with a golf course and various water sports, restaurants, and other facilities and activities, was built on the shores of the lake. Lake Marble Falls itself was created in the forties by the construction of Buchanan Dam, along with Starke and Wirtz Dams, and the other Highland Lakes were created around the same time, by damming the waters of the Colorado River. Lake LBJ is also very close to the city of Marble Falls, and two of the dams used to partially create Lake Marble Falls were rebuilt in the year 2000. Earlier, in 1980, a new high school was built to improve the academic performance of the area students, and ten years later, the internet was introduced in Marble Falls, allowing even more access to reference materials for the residents of the growing community.

Today, Marble Falls is an established community. The yearly Lakefest in August draws throngs of visitors, as do various attractions including numerous restaurants, a movie theater, many R.V. parks, a public golf course called Meadowlakes, and a plethora of gift shops, antique stores, bed and breakfast inns, and a variety of unique local attractions. Marble Falls has a large community of retirees, as well as residents who spend their winters in the town, due to its mild climate. Some of the popular local restaurants include the Blue Bonnet Cafe and Russo's Texitally Cafe, and Rockhopper's Family Fun Center offers miniature golf and other games and sports.

If peaceful, rural living, as well as scenic beauty and numerous amenities are your cup of tea, come to Marble Falls and experience the best Texas has to offer!

Ki is a real estate agent working in the Austin Texas real estate market. He provides information on his site about Marble Falls real estate along with a search of the Austin MLS.

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Oct. 13, 2008 - The City of Manor, Texas

Manor is the name of a small city east of Austin, and this small community has many noteworthy attractions. The city was settled in 1872 when it was named after its first postmaster, James Manor. Manor currently has an approximate population of 5,500, a figure which was derived from the number of utility service connections, and the city is twelve miles northeast of downtown Austin. Manor has an area of 1.1 square miles, and in the 2000 census, there were 405 households reported, including around 289 families. 365 of the households in Manor reported children under the age of 18 living in the home, and 47% of the households included married couples. The median age of the population of Manor is 32 years, which is about average for the state of Texas. The racial makeup of Manor is quite diverse: 53% of the inhabitants report being White, while 16% claims African-American ancestry. 25% of the inhabitants report other racial backgrounds, and 48% report some Hispanic or Latino ancestry, and many of the residents are a combination of the above.

The median income in Manor for households and families is between $37,000 and $42,000, and the population has a slightly higher percentage of women than men. School students in Manor attend Manor Independent School district schools, including Red Rock Elementary, and since 30% of the population is under 18 years old, there are many students in the Manor area. The average family size in Manor is 3.54 people, with 9% of families reporting a relative over the age of 65 living in the household.

There have been numerous films and other theatrical productions filmed in the area, some as a result of the small Texas town atmosphere, such as the T.V. show "Friday Night Lights", which was partially filmed in the Manor Mustangs football field, as well as the movie" What's Eating Gilbert Grape?", which was also filmed in Manor. Due to the reasonably flat terrain and frequent tornado-prone weather conditions, parts of the movie "Twister" were filmed in Manor as well.

Manor is a rapidly growing community, and is located on Highway 290 West fairly close to the intersection with I.H. 35. The recently built Highway 130 interchange with Highway 290 has made the city even more accessible, since State Highway 130 now traverses from I.H. 35 all the way to Highway 71 East, and is part of the new Central Texas Turnpike System, which will soon be expanded and connect even more of central Texas.

The median home value in the Manor real estate market is about $73,000 which is much less than the $200,000+ homes found in the nearby Austin real estate market. Manor is known for quiet living and a rural atmosphere, but since Manor is also strategically located near the U.S. 183 corridor, the community is very convenient for those who work in the high-tech computer industry which is centered north of Austin. In fact, the Chamber of Commerce in Manor proudly presented the Manor Chip Festival in 2007 to celebrate the computer and high tech industry as well as old-fashioned fun. The festival was held at the new High Tech High School in Manor in 2008, and proclaimed its motto to be "Let the chips fly", and featured family-oriented games and contests, some utilizing chips in the races and games.

Some popular eateries in Manor include Ramos Restaurante, a Mexican food place, and Papa Geno's Family Pizzeria, a pizza joint. There is a lovely park in the Manor area called East Metropolitan Park, which is located near U.S. 290 and the intersection with F.M. 973, and the park includes various ball fields, an 18-hole disc golf course, playscapes, ponds, concession stands, restrooms, and hiking trails. Admittance to the park is free and it is open on a daily basis, although there are nominal fees for the use of the swimming pool and certain ball fields. The park is in the process of expanding, and will eventually include even more amenities, but it currently provides all kinds of recreational opportunities for the residents of Manor and visitors alike.

Manor is an ideal place to raise a family, and is affordable, with close proximity to all areas of Travis County, especially the northeast portion of the city. Its accessibility to other metropolitan areas such as Houston and other east Texas locations is also a plus, since it is situated on Highway 290 East, yet Manor offers a small town flavor and many advantages of rural life. Manor is a worth considering if one is relocating to central Texas, and a great place to visit as well!

Ki is a realtor that helps people looking for homes and condos in the Austin real estate market. His site has a search for Austin homes along with information on Manor Texas real estate.

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Oct. 9, 2008 - Mustang Ridge Near Austin

The small city of Mustang Ridge was incorporated in 1985 by Alton Brooks Laws Jr. and Charles Laws, and Alton Brooks Laws was also the first mayor of the city, as well as municipal judge. There are 256 households in Mustang Ridge, and 40.6% of them had children under the age of eighteen at the time of the census. Of those households, 64.8% were married couples living together, and the average household size was 3.07 people. The median age of the inhabitants of Mustang Ridge is about average for Texas at 33.2 years, and the median household income is also about average, at $42,900 yearly in 2005. There are a slightly higher percentage of males than females in Mustang Ridge, with the ratio being 51.5% male compared to 48.5% female, which translates to 404 males compared to 381 females living in Mustang Ridge.

Only a small area of the city is located in Bastrop County, and those residents who are of school age attend Bastrop Independent School District Schools, whereas most of the students in the Travis County portion of the city attend Del Valle I.S.D. schools and the students in Caldwell County attend Lockhart I.S.D. schools. The city has its own police force, with additional law enforcement provided by the Travis County Sheriff's Department as well as the Bastrop and Caldwell County Sheriff's Departments when the small city police department is not available.

Most of the inhabitants in Mustang Ridge are of Mexican-American descent, and there are also a large percentage of residents who claim German or Irish ancestry, and many other ethnicities comprise the remainder of various ethnicities among the other inhabitants of the small community.

Mustang Ridge is very close to the Austin-Bergstrom International Airport in Del Valle, so it is very accessible for out of town travelers. There are numerous hotels near the airport, which is in the Del Valle area, that provide lodging to visitors near Mustang Ridge, including the relatively new Airport Hilton, which was built on the site of the original military airport terminal and is very unique in that the entire hotel is round, with circular walls and other unusual designs that are reminiscent of the old military base. There is also a Comfort Suites and Clarion Hotel near the airport and Mustang Ridge, among others, and the Hyatt Lost Pines Resort near Bastrop is also very convenient to visitors in the area looking for a relaxing yet well-appointed place to stay.

For recreation, McKinney Falls State Park is very close, and offers swimming, canoeing, fishing, hiking, and many other activities, as is Onion Creek and the many recreational opportunities it offers, which are similar to those offered at McKinney Falls, including camping, bicycling, and nature watching, as well as golf at the Onion Creek Golf Course and Country Club. San Marcos is also reasonably close to Mustang Ridge, and there are numerous recreational activities in or near San Marcos, including Aquarena Springs State Park and other recreational facilities and parks on the San Marcos River, as well as the Guadalupe River, which is also nearby and considered an excellent locale for rafting, canoeing, and swimming.

Two nearby communities include Niederwald and Creedmoor, both of which are about five miles from Mustang Ridge, and since Mustang Ridge is situated very close to the intersection of U.S. Highway 183 and Highway 21, it is convenient to both Austin, which is 17 miles north of Mustang Ridge, and San Antonio, which is 69 miles southwest of Mustang Ridge.

Mustang Ridge is a rapidly growing community, and has experienced a 16% increase in population since the 2000 census, and the population is now estimated to be over 915 residents. The housing market is expanding too, and in recent years the average number of new homes was higher than Texas on average. There are apartments, duplexes, and other available housing as well, and the biggest percentage of homes are in the price range of $70,000 to $79,000, with the second largest percentage being in the range of $100,000 to $124,000. The most expensive home in the area is valued at around $500,000 and the least expensive is priced at around $25,000, and most of the homes available in Mustang Ridge are priced in between these amounts.

If rural living with access to two large cities appeals to you, as well as the rolling hills and plains of south-central Texas, be sure to visit Mustang Ridge!

Escapeso Realty helps buyers in the austin real estate market. Their site has information on Austin MLS areas along with a blog covering Austin real estate. Their site also provides a map based Austin MLS search for Austin area homes.
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Oct. 9, 2008 - Five Simple Ways to Spend Less

Budgeting and living within your means is often perceived as a difficult, daunting task. In reality, there are plenty of simple ways to trim your budget all they require is a little time and effort.

1. Pack your lunch.
Instead of spending upwards of $40 - $50 a week eating out, take your lunch with you to work. Even if you go out for relatively cheap meals, the total cost (plus tax and tip) adds up quickly. A great way to do this is to cook double or triple the amount you'll need for dinner the night before, and set lunch portions aside ahead of time.

Another way you can simplify the entire process is to cook a large amount of food over the weekend say 8-10 chicken breasts, a big lasagna or pasta dish, for example and portion it out for lunches and dinners throughout the week. If you're pressed for time and don't have anything prepared, head to your local supermarket and pick up a few microwavable meals and other healthy items like single-serving-size frozen vegetables or fruit packs. This option is a bit pricier than cooking from scratch, but still much cheaper than eating out every day.

2. Hand-wash your car.
Skip the $5 - $10 drive through car wash and soap up your car yourself. It may take a bit longer than the drive through option, or it may not, depending on how far you have to drive to get to the car wash in the first place. Regardless, washing your car yourself can save you $30-plus per month. If that doesn't sound like much, think of it this way: it adds up to about $150 per year.

3. Take a walk.
Next time you need to run to the corner store, to drop off your child at soccer practice a few blocks away, or to pick up a couple of items at your neighborhood grocer, skip the car and make the short trip on foot. You'll conserve gasoline which is good for both your budget and the environment and you'll be doing something healthy for yourself. It's a win-win situation.

4. Enjoy the outdoors.
Next time you're looking for a fun family activity, skip the movie theater or other venue in favor of the great outdoors. Most cities and towns have a wealth of public parks, complete with jungle gym equipment, swings, shade trees and sunshine everything you need for a fun afternoon of quality time with your family. And it's free!

5. Check out consignment.
Looking for a new top, bag, or shoes? Head to your local consignment shop instead of the mall odds are you'll find great deals on quality items (though you may have to do a little digging). Many cities have upscale consignment shops, too, offering designer items at a steal of a price. And next time you clean out your closet, make a pile of your best give-away items and take them to the consignment shop instead of Goodwill. You may just pad your wallet with some extra cash. If the items don't sell, you can opt to pick them up after a set period of time (usually about three months) or have them donated for you.

Ki is a realtor in Austin Texas. He helps people interested in the Austin real estate market. His site has a free mortgage calculator along with updated stats on the Austin real estate market and a search of the Austin MLS.
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Oct. 4, 2008 - Could the 700 Billion Bailout = No Change in the Housing Market?

The general arguments concerning the bailout have gone something along the lines of

"The taxpayers should not have to foot a 700 billion dollar bill to bail out Wall Street"

"But if taxpayers do not bail out Wall Street the economy will fall apart and those same taxpayers will be hurt"

If we could be sure the bailout would work the second argument has some merit. While the bailout will certainly help the banks, the problem is we have almost no guarantee the bailout will help the real estate market and the general economy.

First let's look at some recent history of how the Fed has tried to help the troubled real estate market. The Fed usually attempts to lower mortgage interest rates to help the real estate market. By lower mortgage rates houses become more attractive. In addition, with lower mortgage rates home buyers can buy more expensive houses with the same monthly payment. Therefore lower rates can help stop falling prices. So it was not surprising in early 2008 the Fed cut the Fed rate. In normal markets lowering the Fed rate helps banks and causes them to lower mortgage interest rates. And after the fed cuts mortgage rates for a period of time dropped to 5.50. If they had stayed down there we might have averted some of the problems with the current housing crisis. But instead a few weeks later rates had jumped backed up to 6.2. Basically banks said thanks for the lower fed rates but we are not going to alter our rates. In fact, over the next few months mortgage rates rose all the way to 6.6. The next big move was acquiring Freddie Mac and Fannie Mae. This was one of the largest government takeovers in US history. The move was risky because the government was providing insurance for trillions in loans. And it initially had a positive effect on the housing market. But a few weeks later AIG ran into financial problems. It was almost as if the government takeover of Freddie Mac and Fannie Mae never happened.

So the previous moves the federal government has made to stop the financial crisis have not worked. Should the 700 billion dollar bailout be different? It could certainly help the markets. But it might not. Lets look at why.

One of the benefits of the 700 billion dollar bailout has nothing to do with banks. It has more to do with perception on Main Street. The hope is that the bailout will restore confidence in the real estate market on Main Street.

In politics people often talk about news cycles covering up the last news cycle. Basically the last piece of news stays in people's minds until the next piece of news comes along. The Fannie Mae and Freddie Mac news cycle (and the billions the government will spend on it) only lasted until the next piece of news, which was about a week. While the 700 billion dollar bailout should restore some confidence into the real estate market, that confidence might only last until the next piece of news. And with things happening so quickly that news cycle might not last very long and given the current market the next piece of new is likely to be negative.

The other benefit of the 700 billion dollar bailout is that the government is hoping to influence banks to start lending again. The idea is that by taking billions in toxic loans off the books for banks they will start lending again. The problem is that their is no guarantee this will happen. In fact when the fed lowered rates banks said thanks but decided that prospects for the housing market looked negative and continued to add restrictions to lending. In a similar fashion banks could say thanks for the 700 billion but we continue to see negative prospects in the housing market and therefore we will continue to have strict lending practices. But thanks for the 700 billion taxpayers.

Escapeso real estate is a small brokerage in Austin Texas. Their realtors works with clients looking for Austin real estate. Their site offers a free search of the Austin MLS along with current mortgage interest rates.
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Oct. 4, 2008 - In Week Of Historic Changes Mortgage Interest Rates Hold Even

Mortgage Interest Rates
Mortgage Rates Widget


In a week of historic changes in the US financial markets mortgage interest rates held pretty much even across the board. With the market making the largest one day drop in decades and also one of the largest one day gains in a long time to mention nothing of the historic 700 billion dollar bailout package we would have expected something to happen with mortgage rates. Instead we saw some of the smallest changes in rates we have seen all year. So what happened? On the one hand I think the markets reacted somewhat positively to the bailout but at the same time the economic outlook has soured. Additionally, the initial positive reaction to the bailout has softened as some have started to question whether the bailout will actually work. So in summary, in a week of unprecedented changes in the mortgage industry mortgage rates didn't move an inch. Below are rates for the main mortgage products for the last few weeks.

October 2, 2008
30-yr 6.10 15-yr 5.78 5-yr ARM 6.00 1-yr ARM 5.12


September 25, 2008
30-yr 6.09 15-yr 5.77 5-yr ARM 6.02 1-yr ARM 5.16


September 18, 2008
30-yr 5.78 15-yr 5.35 5-yr ARM 5.67 1-yr ARM 5.03


September 11, 2008
30-yr 5.93 15-yr 5.54 5-yr ARM 5.87 1-yr ARM 5.21


So let's see what is happening with actual mortgage payments. Using our free mortgage calculatorWe are going to look at mortgage payment for a 200k loan based on today's rates, the rates from last week and the rates from a little over a month ago.

October 2nd
30-yr $1211.98
15-yr $1664.03
5-yr ARM $1199.10
1-yr ARM $1088.35


September 25th
30-yr $1210.69
15-yr $1662.96
5-yr ARM $1201.67
1-yr ARM $1093.28


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


So obviously nothing happened in the last week. If you got a 30 year mortgage this week instead of last week you are paying $1.29 more a month. But if we look at the payments one would make on the same loan a little over a month ago we can see we would be making substantially lower payments today. For a 200k loan the payment based on rates from July 24th would be $1281.28 compared to $1211.98 based on today's rates. That's comes out to a savings of $69.3 a month or 5.7%. If you did get a loan a month ago it might be worthwhile to call up your mortgage broker and look into refinancing.

So what are mortgage interest rates going to do over the next month? Obviously the Fed and the US Government are doing everything in their power to lower rates. The question is will they be successful. And that is the critical question. One would have thought the prospect of a 700 billion dollar bailout would have moved the stock market up. If we remember the prospect of a Freddie Mac / Fannie Mae bailout moved brought mortgage interest rates down. But instead since the bailout has been proposed the Dow Jones has fallen over 600 points. Not an encouraging sign. So in summary the bailout could encourage confidence among banks and bring rates down but it's not a guarantee.

Ki helps buyers interested in Austin neighborhoods. His site has a search for Austin commercial real estate and updated stats on his Austin real estate blog.
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Oct. 4, 2008 - Austin Originals: Primizie Osteria

Austin, Texas, is well known for its exceptional restaurants, catering to all tastes, budgets and timeframes. If you're looking for some specific culinary treat at any given time, odds are, you'll find it here. The reputation is well earned, and new establishments tend to thrive in this colorful, varied city well, new establishments worth their salt, that is. One of these new hotspots that has recently come on to the Austin scene (and come on strong) is Primizie Osteria, a catering company and restaurant that's taken up a cozy little home on East 11th Street, just East of Austin's bustling downtown.

Primizie Osteria is the brainchild of chef and co-owner Mark Spedale. After an extensive, high profile culinary career that began at the Art Institute of Houston and took wound its way through California and New York, Spedale finally made his way to Austin. Soon after, the idea for Primizie Osteria took root, as Spedale began to realize the abundance of opportunity for restaurants like his, featuring high quality food and the freshest ingredients available. With delectable offerings like a cheese plate, featuring local artisan cheeses and locally-produced honey, Spedale has crafted a menu that is both highly sophisticated, and dazzling in its simplicity.

Primizie Osteria specializes in regional Italian specialties near and dear to Spedale's heart (yes, he's Italian), and their exotic rotating specials are always a treat. Another major component of the Primizie Osteria experience is the wine the staff takes great care in hand selecting wines of both quality and value, offering patrons a wide range of options (both culinary, and budgetary).

The menu features Italian classics like pastas (the gnocchi is particularly noteworthy, as is their incredible lasagna), salads, and panini. Their wood-fired pizzas are creative and delicious (like the Caprino e Balsamico, with fresh goat cheese, caramelized balsamic glazed onions and fresh greens; or the Pollo Arrosto Avocado e Pancetta, featuring roast chicken, pancetta, avocado, basil, and pecan-smoked scamorza cheese). Likewise their entrees and specials are always impressive, with offerings like wild boar, trout, and pork regularly gracing the menu.

And of course, dessert. The lemon cheesecake is light, fluffy and flavorful a decadent masterpiece. Primizie Osteria also offers homemade cookies and other traditional Italian treats daily (as well as Italian espresso, naturally).

Beyond the delicious food, patrons of Primizie Osteria enjoy a modern, yet comfortable atmosphere. Casual, yet sophisticated, the mid-sized restaurant's open, airy floor plan, long wooden bar, and pleasant outdoor seating offer something for everyone. From private parties, birthdays, rehearsal dinners and engagement parties to romantic dates over a bottle of wine and a cheese plate, Primize Osteria offers Austin a unique East side haven for delicious Italian fare. But its East side location isn't stopping Austinites from across the city from flocking to this wonderful new addition to the city's culinary culture.

And for those culinary needs that extend beyond a small group dinner, Primizie Osteria offers professional catering, allowing people throughout the city to enjoy the sumptuous menu for almost any occasion, and any number of guests.

Ki helps investors looking for cashflow positive properties. His site provides a free search of the Austin MLS along with detailed information about Austin Texas real estate. He also provides visitors a free mortgage calculator.
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A general blog about real estate with random tips and observations.

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