Archives
September 2008
Sep. 29, 2008 - The Historic Community of Gruene, Texas
The historic community of Gruene, Texas was founded by German immigrants Ernst and Antoinette Gruene in 1849. The Gruene family, including their two sons had immigrated to New Braunfels in 1845, but land was scarce, so Ernst Gruene moved his family down the river and built them a home in the German style of fach werk, and the city of Gruene got its start.
The Gruene family planted cotton on their land, and a few years later, twenty to thirty more families arrived in Gruene, to help farm the fields and build homes for their families. The settlers built homes in a variety of styles, including wooden frame homes, Victorian cottages, and large, brick homes. A mercantile store was opened in 1878, called the Gruene General Store, and a cotton mill which was powered by the Guadalupe River was built around the same time, in the late 1800s.
The town prospered, and shortly thereafter, a restaurant and dance hall was built, and is still in operation today, known widely as Gruene Hall, the centerpiece of the community of Gruene. A new mercantile company opened its doors in 1904, but Ernst Gruene's son Henry B. Gruene's death in 1920 spurred the decline of prosperity in the small city of in Gruene, since he had become a prominent civic leader and farmer, with his father and brother.
In 1922, the cotton gin burned to the ground and was replaced by an electric model, called Adobe Verde, but the depression hastened the decline of most of the family-run businesses, and all of them closed except Gruene Hall. The advent of the boll weevil had taken a toll on the community as well, and most of the farms suffered immensely as a result of boll weevil infestation.
The town was reduced to the state of a ghost town until 1974, when Pat Molak moved to town and bought Gruene Hall. The dance hall needed a few repairs, but shortly after Molak purchased to hall and restored it, the 6,000 square foot dance hall and outdoor pavilion became a magnet for local musicians and free spirits. Molak purchased and restored various other historic structures with his friend Mary Jane Nalley, and life was breathed back into the town of Gruene.
Subsequently, the town of Gruene was added to the National Register of Historic Places, and many other structures restored by Gruene were awarded the Medallion from the Texas Historical Commission, as well as recognized by the travel industry as an authentic historic Texas town. Today, Gruene is a mecca for antique aficionados, and included among the numerous antique shops are the Black Swan, Hampe House, the Gruene Antique Company.
There are also quite a few gift shops, pottery stores, and art galleries, including Buck Pottery, and the Dancing Bear, as well as Gallerie at Gruene, Grandmother Moons, and the Grapevine. For candy lovers, visitors can satisfy their sweet tooth at the Great Texas Pecan Candy Shop with some pralines or pecan fudge.
For a more substantial meal, visitors can tempt their palates at the Grist Mill River Restaurant and Bar, the River House Tearoom, or the Gruene Coffee House, or the Adobe Verde, which was originally a gin mill and has been transformed into a cantina with an outside deck to enjoy the beautiful scenery.
For lodging in Gruene, visitors can stay in Henry Gruene's original home, the Gruene Mansion Inn, which has been converted into a rustic Victorian bed and breakfast, replete with southern style breakfast items, barns, and a carriage house.
Gruene is truly a jewel in the heart of the hill country, so come on over to hear authentic Texas music in a historic Texas dance hall, and grab a bite while you're there. The only problem is: you might not want to leave!!
Escapeso Real Estate is a small company in Austin Texas. Their website provides information on Austin real estate and a free map search of the Austin MLS. They also have updated graphs on mortgage interest rates.
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Sep. 29, 2008 - Budget-Friendly Wedding Planning Tips
Every year, people spend tens of thousands of dollars on a single day the wedding day. From outrageous venues to opulent gowns, to gourmet food and free-flowing champagne, the average wedding costs anywhere between $10,000 and $20,000, if not much, much more. But for many couples, the events of the day are far less valuable than the end result being legally married to the love of their lives. While outlandishly expensive weddings seem to be the norm, in reality, getting married on a reasonable budget is by no means impossible. Follow these simple tips to get you started on your way to a beautiful day that won't jeopardize your financial future.
1. Skip the high-season
Wedding season is typically considered to run from April through September. You can avoid peak prices and scheduling nightmares by planning a wedding during the off season months (October through March). Not only will you have more resources available to you, and at better prices (peak prices are typically 25-50% higher than the rest of the year, which can translate to big savings), but all of your planning will likely be less stressful, as you won't be competing for locations, venues, officiates, and caterers with thousands of other couples.
2. Always opt for simplicity
One of the quickest ways to blow your wedding budget is to invite everyone you've ever met. Limit your guest list to close friends and family it's hard, but the payoff is worth it. Stick to simplicity when choosing a venue as well. Instead of renting the presidential ballroom at the swankiest hotel in town, opt for a wedding in a smaller, more personal venue. Many parks and small community churches are both beautiful and significantly less expensive than the more opulent, standard wedding venues. Or, if you're planning a wedding in your home town, use your childhood home, or the home of a close friend or relative for the occasion not only will the venue have more sentimental value, it will come with a much cheaper price tag.
3. Enlist the help of your wedding party
Many people hire professional wedding planners to handle the stress of orchestrating the big event (although it's doubtful a bride has ever gotten through it all stress free with or without the help of a professional planner). But why pay a sizable retainer to have a stranger plan your wedding, when you can enlist the help and support of your family members and wedding party to bring everything together. Organize your wedding party into a planning committee (remembering that, odds are, the ladies will take on most of the responsibilities let the men handle manual labor like setting up tables and chairs) and let them all contribute to your blessed event. If they're close enough to you to be in your wedding, odds are they will be more than happy to help you make it extra special. Have friends pitch in to take pictures, too, for a more personal experience and big savings on photography.
4. Don't stay married to tradition
There's no need for tuxedos and floor-length formal gowns. Crisp black suits and color-coordinated dresses are much easier to manage, and they don't require as much of an expense, as most men will already own a suit (and someone's own suit will always fit better than a rented tux), and simpler, color-coordinated dresses are more likely to be worn again (especially if you include your bridesmaids in the selection process).
5. Opt for lighter fare
Skip a sit-down dinner in favor of heavy hors doeuvres you'll save big on your overall budget, and your guests will likely appreciate the more casual atmosphere. And instead of a full bar, why not offer a signature cocktail along with cheaper staples like beer and wine? Above all, your wedding should reflect you as a couple, so keep that in mind throughout the planning process, and you're sure to have a beautiful, memorable wedding day, regardless of your budget.
Ki helps buyers and sellers interested in Austin real estate. His site provides information on mortgage interest rates along with a free mortgage calculator.
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Sep. 23, 2008 - Cycling in Austin Texas
Austin, Texas, has always boasted a highly active populace, and is often listed among the nation's healthiest and most active cities. Cycling plays a huge role in this fitness-focused city, with an abundance of resources available to cyclists of every age and experience level. Austin's unique landscape and close proximity to the rolling Texas hill country make it uniquely suited to both mountain biking and road biking alike, and enthusiasts of both sports flock to the city as a result.
Road biking is an extremely popular sport in Austin. Hundreds of cyclists pedal their way through Austin and its surrounding areas, taking in the scenery and the challenging, rolling hills that run for miles upon miles. Highway 360, which runs in a semicircle west of the city, is one of the most popular routes for road bikers, with its picturesque views, wide shoulders and bike lanes, and seemingly endless rolling hills. Within the city itself, there are a wide variety of beautiful, challenging road ways and routes that are dotted daily with road bikers. Mount Bonnel, located in the southwest central Austin, is a popular destination for cyclists and hikers alike, with stunning views, winding roads and steep climbs.
South Austin's Veloway is another haven for road bikers (a paved loop several miles long that's off limit to cars and runners); it offers unobstructed, safe riding, making it an ideal place for beginners to practice and families with young children to ride safely. Hundreds of Austin cyclists flock to the Veloway each weekend, and it's often used as a starting point for group rides, classes and other cycling events.
Mountain bikers don't have to look far to find a wealth of great riding throughout the city and its surrounding areas. The Greenbelt, which runs right through the middle of south-central Austin, boasts extensive networks of trails in all degrees of difficulty, from highly technical, professional-grade trails to simpler dirt tracks, perfect for an evening joyride, or even a nice hike. On the north side of town, Walnut Creek Park is another excellent option for mountain bikers of all skill levels. Miles upon miles of wooded trails weave their way through the park, with a variety of routes and skill levels.
Less than an hour outside of Austin, you'll find Muleshoe State Park, another mountain biker's haven. Muleshoe is home to a beautiful seven-mile loop of rocky climbs, narrow switchbacks, and steep descents. The shaded landscape is visually stunning, with deer bounding through the trees and dramatic cliffs edging along the trails. Another out-of-town cycling option is Milton Reimer's Ranch county park. Though less shaded than Muleshoe park, Reimer's offers just as much technicality, with miles of single track, treacherous rock gardens, and beautiful views of Texas savannah.
Regardless of your experience level, time allotment or desired degree of difficulty, Austin, Texas, and its surrounding areas offer an endless range of options when it comes to cycling. It's no wonder, then, that Austin is home to one of the nation's largest and most active cycling communities. Whether you're looking for a peaceful evening road ride or an epic mountain biking adventure, you don't have to look far to find it in Austin.
Escapeso Real estate helps buyers and sellers looking for Austin real estate. They have a graphical search of the Austin MLS along with current information on mortgage interest rates.
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Sep. 23, 2008 - Five Tips for Shopping on a Budget
Sticking to a budget is hard enough, but malls, outlets and grocery stores don't make it any easier; with countless promotions, sales, and strategically-placed impulse-buy items, it's easy to get sidetracked and overspend. Willpower and discipline are great tools to combat overspending, but many people find it hard to maintain them when faced with a great sale. Never fear, there are a few simple tricks and tips you can use to help keep you on track and overcome the temptation to overspend.
1.Always take a list.
While seemingly simple, and even obvious, this is a great way to help keep spending on track. If you have a specific list of items you need, you can shop with more purpose, and avoid unnecessary browsing (which all too often leads to unnecessary buying).
2.Consolidate shopping trips.
Whenever possible, it's best to combine all your shopping into one day. This is a great way to make sure you don't spend extra time in a given store, browsing unnecessarily, or getting sidetracked from your pre-set shopping agenda. Plus, consolidating your shopping into one big outing will save gas in the long run, which is always a good thing, both for your budget, and for the environment.
3.Clip coupons.
Check your weekly paper for circulars and coupons. Be sure to have your list ready when you do this, to avoid adding unnecessary items (remember, just because it's on sale doesn't mean you need it). While you may not find coupons for everything you need, you'll likely find savings somewhere. Over time, even a few dollars a week will add up big time. Look at it this way: if you save just $4 per week, you'll end up with an extra $208 each year.
4.Plan ahead; shop accordingly.
Food is arguably one of the largest costs in any family's budget. It's one that can't be skipped or compromised, and with costs of everyday items like milk rising considerably, it can be a huge drain on any spending plan. While there's no realistic way around this need, there are ways to help maximize your spending. Planning meals a week in advance can help you make the most of your purchases; simply plan consecutive meals that use the same primary ingredients. Buy those ingredients in bulk to save even more. And always, always save (and use) leftovers.
5.Reward yourself.
Regardless of the best intentions, it's easy to get sucked in to unnecessary spending; it's practically human nature. An unexpected sale at your favorite store, a discount on an item you don't need, but have wanted for some time. You can curb overspending by operating on a rewards system. Set goals for yourself, like limiting spending to a certain amount, and make room in your budget for a special treat or reward when you reach your goal. If you don't achieve the goal, leave the reward money in place and try again for next month. Having something special to look forward to will make it easier to exercise self-control and avoid splurging on items you don't really need, or even particularly want.
Ki is a real estate broker in Austin Texas. He site offers a graphical search for Austin homes. He also provides general information on Austin real estate and updated graphics on mortgage interest rates.
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Sep. 20, 2008 - Mortgage Interest Rates Drop Over Half A Point In Just Two Weeks
If you have been hoping interest rates would drop your prayers have been answered. Interest rates plummeted over half a point last week falling from 6.35 to 5.78. The last time mortgage interest rates fell this fast this quickly was the beginning of 1995 when rates fell from 8.32 to 7.57. Rates have basically fallen following the government takeover of Freddie Mac and Fannie Mae. Below are the rates for the major mortgage products for the last few weeks.
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
September 4, 2008
30-yr 6.35 15-yr 5.90 5-yr ARM 5.97 1-yr ARM 5.15
30 Year mortgage rates fell less this week (.15 points) compared to last week (.42 points). 15 year and 5 year arms both fell about .2 points this week. 1 Year arms which was the only major product to not fall last week fell .18 points this week. The other interesting point is that because interest rates were falling before the Fannie Mae and Freddie Mac takeover (based on rumors of the takeover) rates have fallen an incredible amount (.74 points for 30 year rates) over the last month and a half.
Ok so let's see what these drops mean as far as a mortgage payment. Using our mortgage calculator widget lets look at a payment based on a 200k loan. We will run the numbers based on today's mortgage rates and rates on September 11, September 4th and July 24th.
September 18th
30-yr $1170.96
15-yr $1618.29
5-yr ARM $1157
1-yr ARM $1077.31
September 11th
30-yr $1190.11
15-yr $1638.41
5-yr ARM $1182.43
1-yr ARM $1099.45
September 4th
30-yr $1244.47
15-yr $1676.92
5-yr ARM $1195.24
1-yr ARM $1092.05
July 24th
30-yr $1281.28
15-yr $1707.22
5-yr ARM $1219.75
1-yr ARM $1134.32
So the obvious thing to see here is that the now lower interest rates have had a large effect on mortgage payments. A mortgage with a 30 year interest rate dropped from 1281.28 to 1170.96 (9.1 percent) in the last month and a half. So that brings up the point that it's probably a good point to start looking at refinancing your mortgage even if you received a mortgage somewhat recently.
So what is in store for the market in the next few weeks? It's hard to tell but the market is very volatile. One day the stock market drops 400 points because Lehman Brothers goes bankrupt. Then the government proposes to takeover the bad mortgage debt and the market rises. Because of this volatility if you are thinking of refinancing I might lock in to an interest rate now because its hard to know what rates are going to be like in a few weeks.
Ki is a realtor down in Austin Texas. His website provides a search of the Austin MLS along with information on Austin Commercial Real Estate.
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Sep. 19, 2008 - Austin Area Restaurantes With Patio Dining
One of the most attractive parts about life in Austin is our ability to be outdoors almost the entire year round. Austin's restaurants reflect this outdoorsy aesthetic, with many of them providing attractive and fun al fresco dining. Here are some of the best patios to be found around Austin.
Old Alligator Grill - This casual South Austin staple has a large, wooden patio. Specializing in oysters, shrimp, and other Cajun delicacies, the OAG even has live music periodically. The patio, although adjacent to the parking lot of a mall, features enormous trees for shade, and the people watching is premium. A great beer selection and an unbelievable happy hour make this South Lamar spot an oasis for all. (3003 South Lamar, Austin, TX 78704)
Eastside Cafe - This East Austin treasure has long held to a local, natural, and partially vegetarian menu, and their patio has the unique distinction of being adjacent to the garden from which they harvest much of their daily ingredients. Walking through the converted house gives diners the impression of being at a very special party, and the beauty and serenity of the patio enhances their celebrated food and wine greatly. (2113 Manor Road / Austin, TX 78722)
Four Seasons - A splurge for some, the Four Seasons' menu is superb, and although it is pricey, the beauty of their patio, overlooking Lady Bird Johnson Lake (formerly Town Lake) makes this a special destination with a uniquely Austin feel. Enjoy the patio for dinner, or for their famous buffet brunch, featuring eggs Benedict; carving, griddle and omelette stations; fresh seafood and salads, and more. (98 San Jacinto Boulevard / Austin, TX 78701-4039)
Fino - Couch-style seats are available on the patio/terrace of this centrally located gem, with plenty of gorgeous old oak trees providing shade and scenery. Fino is open for lunch and dinner, and specialized in small, creative plates. With an excellent wine list, this patio is perfect for a relaxing meal above the fray. (2905 San Gabriel Street / Austin, TX 78705)
Texican - Although technically in Cedar Park, the north location of this Tex-New-Mex stalwart allows diners to sample their justifiably famous cabrito, enchiladas and margaritas on one of the area's nicest decks. The large, covered patio is tiled, and has ceiling fans every few feet - a nice touch during the summer. (11066 Pecan Park Blvd. / Cedar Park, TX 78613)
The Oasis - Known as the "Sunset Capitol of Texas," this Lake Travis institution offers some of the most spectacular views of the lake and its surrounding hills. At one point the Oasis featured thirty-two separate decks, all facing west, and although a lightning fire caused serious damage, they reopened within three days and continue to rebuild and refurbish. The beauty of the views from the patios makes this a popular choice for wedding receptions and other romantic occasions, but all are welcome to enjoy their diverse menu and specialty cocktails while watching the sunset over the lake. (6550 Comanche Trail / Austin, Texas 78732)
Ki is a real estate broker. He runs a site dedicated to Austin real estate and provides a graphical search for Austin homes. His site also provides users information on mortgage interest rates.
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Sep. 15, 2008 - The Austin Zoo and Animal Sanctuary
The Austin Zoo and Animal Sanctuary is home to over 100 different species of animals, and there are over 300 animals living at the zoo. The zoo is located west of Austin on Rawhide Trail, which can be found by turning off of Highway 290 West shortly after its intersection with Highway 71 West, onto Thomas Springs Road, which intersects with Rawhide Trail a few miles down the road
The Austin Zoo includes educational facilities and beautifully landscaped grounds and gardens, as well as habitats for bears, lions, and numerous exotic birds and reptiles. A petting zoo allows visitors to have close contact with harmless species of animals, and patrons can purchase feed at a nominal cost in order to interact more closely with the animals, which is a special treat for children visiting the zoo.
The primary purpose of the sanctuary is to provide rescue, rehabilitation and education to assist animals in the zoo. The zoo had over 200,000 visitors last year, and is a popular destination for families in the Austin area. Originally, the Austin Zoo was a goat ranch, but in 1990, it changed its name to Good Day Ranch, and at that time, the animals consisted mostly of deer, goats, donkeys, ponies, and pigs, with few exotic animals.
The zoo is open every day from 10:00am to 6:00pm, except Thanksgiving and Christmas, and admission is $7.00 for adults and $4.00 for children, with discounts for seniors, students and military personnel, so the zoo is quite affordable for the whole family. Yearly passes for unlimited visits are also available for individuals as well as families, and proceeds go to providing more homes for the many animals that are turned away since the zoo is regularly inundated with requests to rescue various kinds of animals, both domesticated and wild.
Among the animals at the zoo are big cats such as lions, panthers, tigers, and jaguars, along with Old World and New World Monkeys, as they are classified, and amphibians such as toads, frogs, salamanders and the like. There is also a reptile habitat that includes snakes iguanas, geckos, and tortoises, and various exotic birds, which include lovely peacocks strolling around on the grounds. There is also a sanctuary for unwanted and unusual livestock, many of which have been rescued from those who no longer want them, such as llamas, pot-bellied pigs and miniature donkeys, as well as longhorn cattle.
The Austin Zoo supports a pre-school television program called "Sprout Please!" which provides educational content for young children, and the zoo is also helping promote an appearance by animal expert Jack Hanna, who will appear at the Paramount Theater in downtown Austin in early October to speak about his experiences with wildlife. Another yearly event at the zoo is called Boo at the Zoo, which is held during the week of Halloween for children, along with their parents, to visit the zoo in their costumes and have a safe opportunity to see the animals and ride a "haunted train".
The zoo is kept in the dark during these nights of fun and parents are encouraged to bring flashlights for peering into the cages and habitats, although some overhead lighting will be provide. Picnics are welcomed during the Halloween event, and the activities promise fun for all.
The Austin Zoo and Animal Sanctuary is an Austin treasure, and worth the short drive out to the hill country, so keep the zoo in mind this Halloween, or any day of the week!
Escapeso Realty provides a graphical search of the Austin MLS along with up to date information on the Austin real estate market. Their site also provides a free mortgage calculator.
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Sep. 15, 2008 - The Texas Governor's Mansion
The Texas Governor's Mansion, which is located a block southwest of the Texas State Capitol Building in downtown Austin, is the most historic home in the Austin real estate market and the longest continuously inhabited executive residence west of the Mississippi River. Built in 1856, the Governor's Mansion underwent construction after the Texas Legislature appropriated $14,500 in order for a suitable home to be built for the 5th governor of Texas, Elisha Pease, and his wife, Lucadia.
The mansion is a Texas historical landmark, and the Greek Revival style home was built by master architect and builder Abner Cook, who used buff colored bricks and lumber from Bastrop to build the home, adapting it to frontier life. The mansion, which has floor to ceiling windows and a deep veranda, is cooled in part by wide hallways which provide ventilation in the summer.
The home is basically square with four main rooms separated by a wide hallway down the middle, and there are servant's quarters and a kitchen in the rear wing. The home has two stories encircled by 29 foot Ionic columns which span the building from top to bottom, with the downstairs floor being sixteen feet high and the upstairs floor being 13 feet high.
The home was completed on June 14th, 1856, and the home was six months overdue at the time, causing the builder to pay rent for the Pease family in a boardinghouse until its completion. At that time, the Legislature appropriated $2,500 for furnishings, and since the amount was not enough to fully furnish the home, the Pease family used their own furnishings, which was a habit that persisted for the next few first families, since the home was large and quite expensive to provide with ample furnishings.
The next governor, Sam Houston, felt the house was too sparsely furnished, and ordered a massive four poster mahogany bed, which is still situated in the southeast bedroom to this day. Temple Houston, Sam and Margaret Houston's eighth child, was the first child born in the mansion, and at one point, their son, Andrew Jackson Houston, locked members of the Legislature in their chambers and refused to give his father the key. The child was five years old when this occurred, and the child reported only relinquished the key when his father, Governor Sam Houston, threatened to have him arrested.
In 1901, the home was redecorated in the late Victorian style by First Lady Orline Sayers, who brought in plush, overstuffed parlor chairs and numerous potted plants to receive the home's first presidential visitor, William McKinley, and his cabinet. Her husband, confederate veteran Joseph Sayers, met with President McKinley and his cabinet at an elegant state dinner in the dining room of the mansion.
By 1914, the home had fallen into disrepair, and was renovated by Governor Oscar Colquitt, and later, in 1960, the home was landscaped with formal gardens by First Lady Nellie Connally, and the formal gardens are still in use today. Later, in 1979, the home was completely restored by Governor William P. Clements and First Lady Rita Clements, after the Legislature appropriated $1,000,000 for the project, and at the time, the mansion had been in use for over 120 years.
Today, there are important art collections and heirloom furniture on display, including a collection of portraits and Stephen F. Austin's writing desk, and the public may tour the mansion with a tour guide provided by the state. The Governor's Mansion in Austin is something for all residents of Austin as well as Texas to be proud of, so be sure and visit the mansion while in Austin!
Ki lives in Austin Texas. He works as a realtor in the Austin real estate market. His site has information on current mortgage interest rates and a search of the Austin MLS.
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Sep. 15, 2008 - Conserving Water Is Good for the Environment (and Your Budget)
Conserving resources electricity, water, money is an important step toward leading a sustainable lifestyle (both personally and environmentally). People strive daily to save money, and yet many do not make the connection between resources and finances forgetting that electric bills and water bills make up a significant portion of monthly expenses. But just because these resources and expenses are necessary, that doesn't mean they can't be cut back, or utilized more thoughtfully and effectively. Often times, we act in a wasteful manner, simply out of habit. But habits can be broken follow these tips to leave your water wasting habits behind.
1. Don't leave the water running when you brush your teeth, clean dishes, or wash your car. Thousands of gallons of water are wasted each year, simply because people are too lazy to turn off the faucet when doing any number of daily tasks. When you brush your teeth, get in the habit of turning the water off after you've moistened the toothbrush, and don't turn it back on until you're done brushing and ready to rinse. When cleaning up after a meal, stack dishes next to the sink, and fill the sink halfway to two-thirds of the way with water, then ad soap. Then bring the dishes into the warm soapy water one at a time, and stack them to dry when you're done. This not only conserves a significant amount of water, it also keeps you from wasting soap, and from sloshing water all over the counter, floor, and yourself. Next time you wash the car, mix a soapy warm-water solution in a bucket, then turn the hose off until it's time to rinse.
2. Avoid washing a load of laundry or dishes until you have enough dirty items to fill the machine. Washing machines and dishwashers use an incredible amount of water. Next time you have just a few things that need washing, do it the old fashioned way and wash them by hand (utilizing the guidelines in tip #1, of course). And encourage family members and roommates to do the same you'll be helping the environment, while also lightening the financial load.
3. Be conscious of when you choose to water your lawn. Many cities and communities discourage residents from watering their lawns, gardens, and plants during the heat of the day particularly in the summer months. This is because, during the heat of the day, a larger percentage of the water will evaporate before it can soak into the soil. Whenever possible, avoid watering your lawn in direct sunlight. Instead, do your watering in the early morning or evening hours it's more efficient, and more effective.
Regardless of whether or not you're experiencing a shortage of water, it should always be treated as a valuable resource, worthy of conservation and care. Next time you're tempted to cut corners and waste water for sheer convenience, remember that it's one of humanity's most vital, non-renewable resources. Simple acts like those listed above can go a long way in cutting back on wasted water not to mention cutting back on your water bill.
Ki is a real estate broker in Austin. He maintains a website about Austin real estate. His site provides a map search of the Austin MLS along with a tool that graphs mortgage interest rates.
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Sep. 12, 2008 - The Bryker Woods Neighborhood
The Bryker Woods neighborhood in Austin is actually a collection of small housing developments and subdivisions, and the earliest known residents settled in the area around 1886, thus it is a very historic neighborhood, located in west central Austin. The neighborhood is roughly bordered by 35th Street, the MoPac Expressway, Westover, and Lamar, and this neighborhood is adjacent to some of the most historic neighborhoods in Austin, including Pemberton Heights and the Old Enfield neighborhoods.
The neighborhood was founded when the fourteen-lot William Thiele subdivision was platted in 1886, near Kerbey Lane and Jefferson, and the neighborhood is also very close to Shoal Creek, which is a beautiful creek that runs north and south through parts of the area. The subdivision is also very close to Camp Mabry, the local military base, and an interest in patriotism inspired the early settlers to designate the streets by using the names of previous presidents. Three examples are Harrison, Madison, and Jefferson, which are all streets in the Bryker Woods subdivision, as well as Pershing and Funston, two nearby streets named for American military generals.
The Bryker Woods neighborhood is primarily residential, except for a few intersections around 35th Street and Jefferson, which are commercially zoned. Most of the neighborhood restaurants and grocery stores, among other commercial ventures, are located at or around the intersection of 35th and Jefferson, including a Randall's Grocery Store and a number of medical buildings, as well as restaurants such as La Madeleine and Waterloo Ice House, which is near the Medical Arts Square.
There are numerous parks and schools in the subdivision and surrounding areas, including Shoal Creek Park, which is between St. Andrew's School and Bryker Woods Elementary, and Bailey Park, at Seton and St. Andrew's, as well as Seider Springs Park, between 34th Street and 35th Street. There are scenic hike and bike trails which run alongside Shoal Creek in the Shoal Creek Park, and the trails are shaded by stately trees, landscaped grounds, and xeriscaped gardens. Hike and bike trails can be found in Seiders Springs Park, and Bailey Park also boasts many recreational facilities, including outdoor tennis courts and a sand volleyball court.
The predominant architectural styles in the neighborhood are those popular in the late 1800s and early 1900s, and many of the homes in Bryker Woods are listed in the national register of historic places. There are also many historic bridges in the subdivision and most of them span Shoal Creek. These include the State Street Bridge, which was the first built and which was constructed in 1916, and the 29th Street and 34th Street Bridges, built in 1938 and 1939, respectively.
The medical facilities in or near Bryker Woods are some of the most plentiful in the Austin area, and both Shoal Creek Hospital and Seton are situated on 35th Street near the intersection with Lamar, along with a plethora of medical offices, diagnostic facilities and the like. This neighborhood is only minutes from the downtown area, but accessible to long distance travelers by the MoPac Expressway, also known as Loop One, which runs along the west side of the Bryker Woods area. Lake Austin is also very close to the neighborhood, just a few blocks west of the MoPac.
There are numerous housing opportunities in this subdivision, including historic homes, condominiums, and a few apartment complexes, many of which cater to University of Texas students, since the area in just a stone's throw from the campus. The Bryker Woods neighborhood has it all: numerous choices of restaurants and parks, many recreational activities and access to nature, diverse housing choices, proximity to downtown, campus, and the MoPac, and a safe environment to raise a family. This neighborhood is one of Austin’s premier addresses, so when visiting Austin, be sure to schedule a trip to the Bryker Woods neighborhood.
Ki helps buyers in Austin Texas. His website has a search for Austin homes and general information about Austin real estate. His site also has information about mortgage interest rates.
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Sep. 12, 2008 - Mortgage Interest Rates Plummet after Fannie Mae/Freddie Mac Takeover
I have been tracking mortgage rates for the last few months. Its always more interesting when there are drastic changes. This week we saw some of the largest changes we have seen this year. This is of course in response to the Fannie Mae and Freddie Mac takeover. The 30 year mortgage rate dropped from 6.35 to 5.93 this week. What makes this more pronounced is that rates have been coming down the last month back on July 24th rates were at 6.63. The 15 year mortgage came down as well this week falling from 5.90 to 5.54. We did not see as much movement in adjustable rate mortgages. 5 Year arms came down to 5.87 from 5.97 last week. 1 Year arms actually increased from 5.15 to 5.21. Below we listed out the rates for the major mortgage products for the last few weeks.
September 11, 2008
30-yr 5.93 15-yr 5.54 5-yr ARM 5.87 1-yr ARM 5.21
September 4, 2008
30-yr 6.35 15-yr 5.90 5-yr ARM 5.97 1-yr ARM 5.15
August 28, 2008
30-yr 6.40 15-yr 5.93 5-yr ARM 6.03 1-yr ARM 5.33
August 21, 2008
30-yr 6.47 15-yr 6.00 5-yr ARM 5.99 1-yr ARM 5.29
August 14, 2008
30-yr 6.52 15-yr 6.07 5-yr ARM 6.02 1-yr ARM 5.18
August 7, 2008
30-yr 6.52 15-yr 6.10 5-yr ARM 6.05 1-yr ARM 5.22
So how is all of this going to be reflected in the mortgage payments one will be paying. Using our free mortgage calculator we ran the numbers on a 200k loan. We looked at what a mortgage would be this week, last week and July 24th.
September 11th
30-yr $1190.11
15-yr $1638.41
5-yr ARM $1182.43
1-yr ARM $1099.45
September 4th
30-yr $1244.47
15-yr $1676.92
5-yr ARM $1195.24
1-yr ARM $1092.05
July 24th
30-yr $1281.28
15-yr $1707.22
5-yr ARM $1219.75
1-yr ARM $1134.32
Looking at 30 Year rates we can see a pretty substantial drop. Since July 24th the payment has dropped from $1281.28 to $1190.11 (a drop of 7%). Additionally, based on todays rate the 5 year arm option seems pretty pointless since it offers a very small savings compared to the 30 year rate.
So what should we expect next week? Unless banks start to get nervous again I think rates might move down a little more. There are rumors that rates are going to come down to 5.5. I think after next week the effects of the Fannie Mae and Freddie Mac will have moved into the market.
Ki works as a realtor in the Austin real estate market. He provides information on current mortgage interest rates. His website also has a free mortgage calculator
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Sep. 12, 2008 - The Fallout From the Fannie Mae, Freddie Mac Takeover
So it has been a week since the feds came in and took over Freddie Mac and Fannie Mae. While it will obviously take some time to know the long term repercussions I wanted to look at some of the immediate reactions to the move.
First let's look at the reaction from the media and the general public. One would expect there to be some political fallout from the largest takeover in government history. But because of the election and Hurricane Ike the reactions have largely been muted. There have been of course the expected positive reactions that this was a shrewd move to help the real estate market and negative reactions that the government should limit its involvement. But for the most part their has not been a big reaction one way or another. I have actually seen more stories about the reactions on the takeover from the presidential candidates than stories simply about the takeover.
While the media reaction has been muted the reactions in the financial markets have not been. Not surprisingly, the stocks of Fannie Mae and Freddie Mac plummeted after the announcement. The government said before hand that the common shares of Freddie Mac and Fannie Mae would lose most of their value in the event of a government takeover. So following the news of the takeover the share promptly lost 80% of their value.
The mortgage markets have reacted very favorably to the news. Considering the Fed has cut interest rates multiple times this year mortgage interest rates have remained relatively high. The reason for this was that banks were unsure about the financial stability of Freddie Mac and Fannie Mae which provides insurance for about half of the residential loans issued in the United States. This risk has now been lowered since the government takeover. Consequently mortgage rates have plummeted in the last week. 30 Year mortgages have dropped from 6.35 to 5.93. This is after rates have moved down from 6.63 to 6.35 partially on expectations that Fannie Mae and Freddie Mac were going to be taken over. I have seen some reports that this is lowest rates have been in the last 4 months. I think this understates how low rates have come down. Besides two brief drops at the beginning of 2008 this is the lowest rates have been since 2005.
The lower interest rates should have a positive effect on the real estate market. Lower rates pull down the mortgage on a house and tend to have a positive effect on real estate values and market activity. In another positive sign although their has not been too much media coverage the coverage that has come out has been mostly positive. To be honest I was a little surprised by this. I would have expected the coverage to be a little more mixed. But regardless the favorable media reaction combined with lower interest rates should help the real estate market. And based on what I have heard from different realtors their does seem to be an upswing in activity. But we won't have any hard data on this for a month or so.
So, at least in the short term, it seems the Feds have accomplished their goals of helping the real estate market with the Freddie Mac and Fannie Mae takeover. We will of course have to wait over the next few years to see if this move turns out to be wise. But for now the Fed has finally been able to push down mortgage rates.
Ki is a real estate broker working in the Austin real estate market. He maintains a website with a Austin MLS search and a frequently updated Austin real estate blog.
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Sep. 8, 2008 - Mortgage Interest Rates Continue To Fall
This was the sixth week in a row were 30 Year mortgage rates fell or held steady. In the last 6 weeks 30 year notes have fallen from 6.63 to 6.35. This was preceded by a sudden jump in interest rates in July where 30 year mortgage interest rates rose from 6.26 to 6.63 between July 17th and July 24th. So while rates are little higher today than what we saw on July 17th they have almost fallen back to mid July levels. It's interesting to note that it took one week for rates to jump from 6.26 to 6.63 and six weeks of falling rates to get close to the July 17th levels.
This week we also saw decreases in all the other major mortgage products. The 15 year mortgage fell from 5.93 to 5.9 and the 5 year arm fell from 6.03 to 5.97. By far the biggest mover was 1 year arms which fell almost 1/5 of a point moving from 5.33 to 5.15. Below are rates for the 4 major mortgage products for the last few weeks.
September 4, 2008
30-yr 6.35 15-yr 5.90 5-yr ARM 5.97 1-yr ARM 5.15
August 28, 2008
30-yr 6.40 15-yr 5.93 5-yr ARM 6.03 1-yr ARM 5.33
August 21, 2008
30-yr 6.47 15-yr 6.00 5-yr ARM 5.99 1-yr ARM 5.29
August 14, 2008
30-yr 6.52 15-yr 6.07 5-yr ARM 6.02 1-yr ARM 5.18
August 7, 2008
30-yr 6.52 15-yr 6.10 5-yr ARM 6.05 1-yr ARM 5.22
Ok so what does this mean for a mortgage? Obviously ones mortgage would be lower with falling rates but by how much. Let's look at a 200k mortgage and using our free mortgage calculator lets fun the numbers based on today's rates.
September 4th
30-yr $1244.47
15-yr $1676.92
5-yr ARM $1195.24
1-yr ARM $1092.05
August 28th
30-yr $1251.01
15-yr $1680.15
5-yr ARM $1202.96
1-yr ARM $1114.33
July 24th
30-yr $1281.28
15-yr $1707.22
5-yr ARM $1219.75
1-yr ARM $1134.32
So why have rates steadily fallen. I think it has to be based on rumors (which have now proven to be correct) that the federal government is going to takeover Fannie Mae and Freddie Mac. Basically the government takeover provides more assurance to banks that their mortgage insurance is going to be paid out in case of default. The declining fortunes of Freddie Mac spooked some banks into thinking their mortgage insurance was possibly worthless. So now banks are lowering rates because in their view the risk associated with the loans has gone down.
So what do I expect to see over the next few months? I would be surprised if mortgage rates don't continue to fall now that Freddie Mac and Fannie Mae are owned by the government. The Fed has been trying to push down interest rates all year and now they have the means to do so (I think this was part of the motivation behind the takeover of Freddie Mac and Fannie Mae). So does this mean investors? Should they wait for mortgage rates to drop before buying? I don't think so. If rates continue to fall real estate prices could rise or at least I would expect to see less deals sitting on the market. Instead if you find a property to purchase I would watch interest rates and if they continue to fall I would try and relock your mortgage rate at the new lower rate. While I expect rates to fall something unexpected that spooks banks over the next month could of course push mortgage rates back up.
Ki lives in Austin Texas. His website has a graph that shows mortgage rate trends. He also provides a free calculator for potential home buyers and a mortgage interest rates widget.
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Sep. 8, 2008 - St. Edward's University in Austin, Texas
St. Edward's University in South Austin was established in the late 1800s when Mrs. Mary Doyle bequeathed her 498 acre South Austin farm to the Catholic Church and Father Edward Sorin of the Congregation of the Holy Cross for the formation of an institution of higher learning. Father Sorin was also the founder of Notre Dame University, and had an illustrious and accomplished background.
In 1878, the school's first year, the students were comprised of three school boys who met in buildings which were originally part of Mrs. Doyle's farm. Later, in 1885, the President of the new school, Rev. P.J. Franciscus, improved the school and chartered the academy, as it was then called, and changed the name to St. Edward's College. A faculty was installed by Franciscus, and enrollment was increased, and later the same year, Peter J. Hurth became president of the school.
In 1903, a fire destroyed most of the Main Building, but the building was repaired by fall, and later, a tornado struck the campus, in 1922, and significant damage was sustained during the storm. In 1925, the school received its university charter, and again changed its name, to St. Edward's University, and the faculty was increased again, mostly with priests of the Holy Cross Congregation, and again, the school enrollment grew.
During the 1940s, many students enrolled by using the G.I. Bill after their service in the military, and the number of students again increased dramatically. During the next twenty years, many competent and well-trained presidents managed the school, and as it increased its enrollment even more, the faculty improved and women began attending the school in 1966. Part of the school was referred to as Maryhill College at the time, and accepted female students, and in 1970, the two schools were combined and St. Edward's became a co-educational facility.
In the early 1970s, many new programs were initiated at the school, including an innovative theatre arts program and the "New College", which was an undergraduate program for adults. In 1986, the first female president was named, Dr. Patricia Hayes, and by 1990, the school had reached an enrollment of 3000 students, its highest enrollment ever.
In July of 1999, Dr. George Martin began his tenure as school president, and Martin initiated a ten year master plan to bring St. Edward's into the league of the nation's best, small, private institutions. Martin was the 23rd president of St. Edward's, and is the most recent in a list of notable and luminary previous school leaders.
Today, St. Edward's has an enrollment of over 5,300 students and has won numerous awards for achievements in the field of education, including mention recently in U.S. News and World Report magazine praising the curriculum. The school prides itself on offering a liberal arts education which incorporates critical thinking, service to the community, and ethical practice among its students. St. Edward's is accredited by the Southern Association of Colleges and Schools to award baccalaureate and Masters degrees, and the school's Social Work Program is accredited by the Council on Social Work Education.
The school takes pride in endowing its students with the characteristics of the courage to take risks, an international perspective, and a commitment to providing opportunities for students of a variety of racial, ethnic, political, and religious, as well as economic backgrounds. St. Edward's University is an asset to Austin and Travis County, and a beautiful and well-respected university, in the heart of South Austin.
Escapeso Real Estate helps buyers and sellers in the Austin real estate market. Buyers can search the Austin MLS on their site as well as look up information on mortgage interest rates.
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Sep. 7, 2008 - Fannie Mae And Freddie Mac Takeover: What Does It Mean?
So on Friday it was leaked that the government is taking over Freddie Mac and Fannie Mae. On Sunday it was official. Freddie Mac and Fannie Mae have now been taken over by the federal government. But what does it mean for the real estate market, mortgage interest rates, and the US economy.
First let's look at what it means for mortgage rates. I would expect that the government takeover will result in lower mortgage rates, possibly a full point lower. Why? Basically the Fed has been struggling to lower mortgage rates for the last year in an attempt to assist the troubled real estate market. The Fed has lowered prime rates several times in an attempt to pull down mortgage interest rates, with mixed success. Now with full control of Freddie Mac and Fannie Mae (which provides insurance for most mortgages in the US) they will have much more control over the mortgage market and mortgage rates. As long as their objective stays the same, we can expect lower rates.
What does the takeover say about the current situation in the real estate market? This should have been obvious from all the events that preceded this but the takeover shows that the real estate market is in serious serious trouble. The federal government doesn't just take over large companies on a whim, especially an administration with a Republican president that believes strongly in free markets. This is not simply a government takeover. This is the largest takeover in US history. Basically the takeover happened because it was believed if nothing was done we were headed for economic catastrophe.
How is this going to effect the real estate market? Although the takeover is a bad sign about our current situation it should have a positive effect on the real estate markets moving forward. First lowering mortgage interest rates should be quite a boon for the real estate market. Lowering rates lowers the effective cost of a house. And historically lowering rates has a positive effect on real estate values.
Additionally, if the Fed is smart they will reduce some of the mortgage restrictions Freddie Mac and Fannie Mae have created in the last year. While I would not like to see the mortgage market return to the free-wheeling lending of a few years ago, some of the current rules are bizarrely restrictive. The lending environment typically works like a pendulum moving from one extreme to another. Currently lending restrictions are not just stricter than what we saw during the real estate boom a few years ago but they are more restrictive than anything we have seen in the last 15 - 20 years. Hopefully a federally controlled Fannie Mae and Freddie Mac can help return us to normal as far as lending restrictions.
Lastly the government takeover could put taxpayers in the lurch for billions in loan losses. In the short term the government is going to have to infuse money into Freddie Mac and Fannie Mae. They have been losing money for quite some time and that is not going to change overnight. If the market improves over the next year or two, which was likely before, and the takeover improves the outlook for the real estate market, the government will have to infuse maybe a total of 20 to 30 billion into Fannie Mae and Freddie Mac to get them back to financial solvency. That sounds like a lot but to put the number in context, the cost of the Iraq War has been running at about 100 billion a year for the last 7 years. So a 20 billion dollar expense is an unpleasant but manageable expense. But if real estate market gets a lot worse over the next two years, I can't think of the adjective to describe how expensive things could get.
Fannie Mae and Freddie Mac provide insurance for 5 trillion in loans or about half of the residential loans in the United States. Because of the takeover, the federal government now provides insurance for 5 trillion in loans. If we are just on the cusp of severe real estate problem that means that the federal government is on the hook for 5 trillion in loans. That's more than double the entire federal budget for 2007 and 10 times what the US has spent on the Iraq War. So as taxpayers we should hope things improve soon because if the rate of foreclosures skyrockets over the next 2 or 3 years, we are basically going to be paying for it.
Does this mean the federal government is insane? It depends on how you look at the issue. This was certainly a risky move. But on the other hand allowing Fannie Mae and Freddie Mac to fail would have devastated the US economy and likely lead to a severe depression. So doing nothing was equally risky. And while taking over Freddie Mac and Fannie Mae was a risky move for taxpayers, in a depression those that keep their jobs have to make up for all the lost tax revenues for the large number of people that lose their jobs. So in summary the federal government found itself in a tight spot and decided to bet the farm they can fix the real estate market and for our sakes, let's hope they are right.
Ki lives and works in central Texas. He provides a search of the Austin MLS on his site along with current information on the Austin real estate market. His site also provides a tool that show current trends for mortgage interest rates.
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Sep. 7, 2008 - Austin, Texas: Home of North America's Largest Urban Bat Community
Austin is home to many things: live music, the University of Texas, the state capital; but many people don't realize Austin is also home to the nation's largest urban bat community-and it's right downtown. More than 750,000 Mexican Free-Tail bats make their home under the beams of the Congress Avenue bridge. Following renovations of the iconic bridge in 1980, the bat population took up shelter under the bridge, and it has been their home each summer since.
During the cooler months, the bats make their home in Mexico, but every year during March and April they make their way North to Austin to give birth and feed on the cities abundant bugs (coincidentally, the summer months are when Austin's cricket population reaches its height as well). And before the sun goes down, when they're resting up for their nightly romp around Austin, the bats spend their time under the Congress Avenue bridge. Each evening, just before nightfall, the bats leave their refuge en masse, in an incredible natural exodus-a massive swarm of hundreds of thousands of Mexican Free-Tail bats swirls its way up around the bridge, then dissipates as the bats head off in every direction to feast.
Apparently, the renovations made in 1980 left deep crevices in the bridge, which provide an ideal habitat for the bat colony. Many Austinites consider this an accidental blessing, as the bats are credited with greatly cutting back on the insect population both within the city and throughout the surrounding countryside. In fact, it's estimated that, as a group, the bats consume between 10,000 and 30,000 pounds of insects!
This incredible sight has become an integral part of summer in Austin, and draws hundreds of spectators nightly during the summer months, culminating in late August, when the colony is at its largest-averaging around 1.5 million bats. Austinites have come to treasure and even celebrate this unique natural phenomenon, with a summer celebration called BatFest. Held during the last weekend of August each year, BatFest brings together all of Austin's favorite things-live music, food, people and (you guessed it) the Mexican Free-Tail bats. The family-friendly event features educational displays, arts and crafts, and a whole host of activities centering around the Congress Avenue bridge bats-plus more than 30 bands rocking the weekend away from two different stages.
Austinites love a good reason to party-it's a trait the city is well known for. In fact, BatFast falls just a few weeks before Austin's biggest music festival, Austin City Limits, which draws thousands of visitors a year and brings the country's hottest bands to Austin, Texas, for one sweltering weekend each September. But, unlike ACL or South by Southwest-Austin's other major music festival, which also doubles as a film festival-BatFest is first and foremost about promoting the protection and appreciation of one of Austin's natural wonders.
In a city with such strong environmental pride, and wonderful resources like Barton Springs Pool and Edwards Aquifer, it's no wonder this incredible phenomenon would capture the imaginations-and hearts-of so many.
Ki lives in Austin the coolest city in the world :). He helps clients interested in Austin real estate. If you are interested in the Austin market you can search for homes using the Austin MLS are read about market trends on his Austin real estate blog.
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Sep. 4, 2008 - Austin Neighborhood Profiles : Travis Heights
One of the coolest neighborhoods in the Austin real estate market has to be a cute little neighborhood called Travis Heights. Featuring historic houses, charming shopping streets, great restaurants, and an unbeatable central location, this area is one of the most sought-after in Austin. The streets ramble and roll, curving over hills, through ancient trees, lending an air of serenity to a neighborhood in close proximity to Downtown Austin, as well as the bustling Soco shopping area.
The borders of Travis Heights are Riverside Dr. to the north, Interstate 35 to the east, Oltorf to the South, and South Congress to the west, although the area just west of South Congress features many of the same amenities. The older houses date to the late 1880s, when the only way across the Colorado River was by ferry. When the first bridge was completed, development soared, with a huge surge in the 1920s. Most of the area is made up of single-family homes from each stage of development.
The word "development" is a call to arms in Travis Heights. Most agree that the rejuvenation of the previously sketchy SoCo (SOuth COngress) strip has enhanced the area, bringing hip cafes and shops within walking distance, and adding to the popularity, as well as the property value, of the area. Still, residents of this charming older community have banded together to ensure that commercial development is kept at bay, and that the feel of the area is not diluted by the building of brand-new houses.
SoCo is home to the fabulously refurbished Hotel San Jose, whose courtyard is a popular place to stop for a drink. The Continental Club, one of Austin's oldest and coolest music venues, is nestled between tattoo parlors, trattorias, Amy's Ice Cream and more. With clothing shops, gourmet markets, and one of Austin's most iconic restaurants, Guero's, all within a few blocks, this vibrant shopping district is one of Austin's most exciting cultural pulse-points.
The twenty-three acre Blunn Creek Greenbelt bisects Travis Heights from Riverside Drive in the north to Live Oak on the southern end. This thick swath of rolling, wooded landscape features hike and bike trails, lots of fields and open space, and the charming and popular Big Stacy and Little Stacy parks. The major attraction of Big Stacy Park is the free swimming pool, which is open year-round. The pool is flanked by a small field, with a few picnic tables and grills. Little Stacy park holds one of the finest playgrounds in the city, with structures tailored to toddlers as well as older kids, swings, and a wading pool as well. With tennis courts adjacent to it, and lots of shade trees, this is a popular spot for Travis Heights families.
Norwood Estate Park at Riverside Drive and IH35 is Austin's own leash-free dog park. Completely enclosed by fence, dogs can run free, exploring the wooded perimeters, or chasing balls and each other across the wide expanse. With chairs and tables for the humans, and water for the canines, this park is frequented by dog-owners throughout the city.
Travis Heights homes continue to rise in price, marking this neighborhood as one of the best in the city.
Ki helps buyers interested in central Austin real estate. His site has information on his austin real estate blog along with a map search of the Austin MLS.
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Sep. 4, 2008 - Mount Bonnell
Mount Bonnell is one of the most historic as well as highest parks in the Austin area, and has been a popular spot for hikers, nature lovers and campers since the mid-1800s. The "mount" for which the park is named is a natural limestone formation and the park is also called Covert Park and is situated alongside and above Lake Austin, and offers panoramic views of the lake and the city from its numerous cliffs overlooking the lake and hills below.
Mount Bonnell has been considered one of Austin's most well known tourist attractions for years too, and is one of the first place new University of Texas students visit when arriving in Austin, given its notable and historic reputation, frequently by word of mouth from one generation of students to the next.
Mount Bonnell is located in northwest Austin in the Highland Park neighborhood and is accessible from Mount Bonnell Road near its intersection with Ranch Road 2222 and Balcones Drive, and its peak is 780 feet above sea level, the second highest elevated point in Travis County, behind the Jollyville Plateau.
According to legend, the highest point was called Antoinette's Leap two centuries ago, when a maiden leaped to her death after the capture and killing of her fiance by Native Americans. The name Mount Bonnell came from George Bonnell, who was a prominent Austinite in the mid-1800s and who was active in Travis County affairs. Bonnell was the publisher at the time of a local publication called the Texas Sentinel, now defunct, and was a visitor to the park.
Another interesting feature near Mount Bonnell is the West Austin Antenna Farm, or WAAF, which is a broadcasting facility that can be seen from atop Mount Bonnell and which is comprised of fifteen television and radio towers that broadcast for various local stations, the KXAN tower being the tallest structure in Travis County. The WAAF is located at Loop 360 and Westlake Drive, near Mount Larson, which is directly across Lake Austin from Mount Bonnell and can be seen very clearly form the lookout point atop Mount Bonnell with its sparkling lights. The Antenna Farm includes a very high camera which captures views of the city for various news programs and other media outlets.
Mount Bonnell was dedicated as a park on July 15, 1938, by Frank Covert, and an engraved stone with its name sits atop the pavilion area at the top of Mount Bonnell, with paths leading to and from it through the flora and fauna. There are numerous trails throughout the park, and many are surrounded by cacti, sage, wildflowers and other vegetation.
Many of the trails, especially those that traverse up and down the hills, have natural steps made from exposed rock. There are also a 100 man-made step path that leads from the base of the hill, where the main entrance is located, to the peak and lookout points at the very top of the mount, and is a fairly steep hike, but access to the top can be gained by a less direct but more gentle climb just north of the main entrance.
The park is open from 5:00am to 10:00pm daily and admission is free, but it is important to wear comfortable shoes and beware of insects, ants, and snakes, as they are common in the area. Glorious views of the Austin skyline can be seen, especially at night, and the U.T. Tower looks particularly regal and majestic from the top, so come dressed appropriately, heed the warnings and stay away from the edge of the cliffs, and enjoy Mount Bonnell, one of Austin's many wonders!
Ki works is a realtor down in Central Texas. He maintains a website about Austin real estate which has a free search for Austin homes along with a frequent market updates on his Austin real estate blog.
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Sep. 4, 2008 - South Austin Museum of Popular Culture
Everyone's favorite slogan, "Keep Austin Weird," certainly applies to this unique and funky museum. Heavily slanted towards music, the South Austin Museum of Pop Culture aims to preserve and exhibit art and artifacts that reflect Austin's influence on the larger realm of popular culture. Located on South Lamar in the venerated 78704 zip code, the SAMPC has permanent collections dating back to the 1960s, and mount exhibitions featuring the works of some of Austin's most exciting new artists.
The bulk of their collection is dedicated to what they consider to be the quintessential Austin art form, the music concert poster. Featuring works by Guy Juke, Billy Perkins, Danny Garrett, Henry Gonzales, Sam Yeates, Jim Franklin, and many others, the SAMPC poster collection makes a serious case for including Austin's artists in the pantheon of poster art codified by the Fillmore in San Francisco. These works tell the history of Austin music in colorful, interpretive ways.
Other art forms are found at the SAMPC as well as poster art, including a permanent exhibit by University of Texas graduate, G.L. McElhaney. This multi-talented artist studied under sculptors Charles Umlauf and David Deming, and his work includes bronze, marble and hydrostone cast sculptures. Gonzales conceived and helped create the Dia de los Muertos wall, a permanent fixture in the parking lot beside the museum which is lined with dozens of hand-painted portraits of deceased musicians and artists from Texas, all adorned with flowers and offerings.
The museum features paintings, album covers, portraits and Ken Featherston's giant "Peyote Dream" mural, which was recently extracted from a private home. An entire wall of the museum was torn down and built up again to keep Featherston's work in one piece. One of the most iconic artists highlighted by the SAMPC is Texas-born Gilbert Shelton, whose famous comics, such as "The Fabulous Furry Freak Brothers," are known world-wide. His work has appeared in Help!, Playboy, Zap and Rip Off comics, as well as on the walls of the Vulcan Gas Company club.
Initially a project of the Phogg Foundation, the SAMPC got its start as part of a citywide poster exhibition during South by Southwest in 2004. Shortly thereafter, they mounted the first of many one-man shows, featuring work by the late artist/historian Jack "Jaxon" Jackson. These focused exhibitions have become the trademark of the museum, and they continue to produce up to eight exhibits and five events per year. As a 501(c)(3) non-profit organization, they work with a part-time, all-volunteer staff, including many of the artists who are still painting, drawing and beautifying the city - truly a labor of love for all.
Now a membership organization governed by a Board of Directors, their community outreach efforts are split between adding to and improving their holdings and programs, and the difficult but essential task of raising funds to support a grass-roots non-profit museum. Although there is no admission, donations are suggested, and memberships of all different levels are available.
Escapeso Real Estate is a company which assists people looking for Austin Texas real estate. Their site provides a tool that graphs mortgage interest rates and a search of the Austin MLS.
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View more entries tagged with: Austin, Texas, Keep Austin Wierd, South Lamar, Culture, Museum, History, Art, Artists, Painting
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Sep. 4, 2008 - Mortgage Interest Rates Move Down Again But Still Relatively High
Mortgage interest rates moved down again this week. This marks the fifth week in a row where 30 Year mortgage rates have either fallen or held steady. This is of course good news for people looking to buy a house. This is also good news for the real estate market. A few weeks ago a weakened real estate market was dealing with additional burden of some of the highest mortgage rates we have seen in a year [mortgage rates graph]. Below are the mortgage rates for the major mortgage products for the last few months. As we can see while the 30 Year rate has fallen both the 5 year and the 1 year arm have for the most part held steady. This brings the difference between the 30 Year rate and the 5 year and 1 year arm back to roughly normal levels. The 15 year mortgage rate has been falling as well over the last month but not as much as the 30 year rate.
August 28,2008
30-yr 6.40 15-yr 5.93 5-yr ARM 6.03 1-yr ARM 5.33
August 21,2008
30-yr 6.47 15-yr 6.00 5-yr ARM 5.99 1-yr ARM 5.29
August 14,2008
30-yr 6.52 15-yr 6.07 5-yr ARM 6.02 1-yr ARM 5.18
August 7,2008
30-yr 6.52 15-yr 6.10 5-yr ARM 6.05 1-yr ARM 5.22
July 31,2008
30-yr 6.52 15-yr 6.07 5-yr ARM 6.07 1-yr ARM 5.27
While 30 mortgage rates have fallen they are still above what we saw a few months ago when mortgage rates where hovering around 6.0. So while mortgage rates are relatively high I still think this is a pretty good sign. Why? Basically mortgage rates have fallen in spite of the fact that recently the FED has decided not to lower rates. Does this mean that banks are feeling better about handing out mortgages? I would not go that far. If anything I would think that rates rose suddenly a month ago and simply overshot. And now they are simply reacting to that original large increase by moving down a bit. So let's look at what the mortgage rates mean for an actual mortgage. Using our mortgage calculator let's run through the numbers based on a 200k mortgage. We looked at what a mortgage would be this week plus a week and a month ago.
August 28th
30-yr $1251.01
15-yr $1680.15
5-yr ARM $1202.96
1-yr ARM $1114.33
August 21st
30-yr $1260.19
15-yr $1687.71
5-yr ARM $1197.81
1-yr ARM $1109.36
July 24th
30-yr $1281.28
15-yr $1707.22
5-yr ARM $1219.75
1-yr ARM $1134.32
So what is going to happen over the next few months? It's always hard to predict but here is my guess. I think rates will hold steady or fall a bit over the next two months. I am expecting rates to come down a bit after the election. Of course a lot could happen between now and then. If the market runs into more problems I would expect rates to increase. Why? The Fed has their hands tied behind the back they cannot lower the Fed rate too many more times.
Escapeso Austin Real Estate provides information on mortgage rates. They have a graph of historical mortgage rates along with a free mortgage calculator and a mortgage interest rates widget.
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A general blog about real estate with random tips and observations.
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