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July 2009

Jul. 25, 2009 - Star of Texas Rodeo in Austin

This is the time of year when Austin's residents head down to Auditorium Shores for a full, Texan Cowboy Breakfast with all the fixings, the prelude to the Star of Texas Rodeo. Every spring, during the first weekend of March, many Austinites head to the shores of Lady Bird Lake to get a belly full of biscuits and gravy, bacon and sausage, eggs, and various other kinds of grub, including grits and hash browns, and with a full stomach, make plans to attend the rodeo.

This weekend, this extremely exciting event will begin at the fairgrounds: the 72nd Annual Star of Texas Fair and Rodeo, which culminates in a livestock auction at the end of March, after weeks of competition, cook-offs and other rodeo-related events, such as the Rodeo Rumble Run and the Chuck Wagon cook-off.

Many well-known performers are scheduled to perform at the rodeo this year, including ropers and riders, country music performers, and even rock and roll bands. This year's featured acts include country great Randy Travis, musician Jesse McCartney, and comedian Carlos Mencia, as well as Creedence Clearwater Revisited, which is a group comprised of a few original members of Creedence Clearwater Revival plus a few new members, who perform CCR's greatest hits, among other nationally famous acts.

The Fair and Rodeo also features various competitive events, such as a junior livestock show, a Western arts show, horse races, and the Miss Rodeo Austin pageant and scholarship contest, to name a few. There is also a carnival with all of the usual rides and arcade games, including a ferris wheel, merry-go-round, roller coaster, and unusual rides such as the Crazy Mouse. Prizes can be won at numerous booths and games, and every imaginable type of food and drink is offered as well. Participants can buy single tickets, or wrist bands and daily passes, for as little or as much entertainment as possible for a moderate price.

There are also many commercial exhibits, and with over 300,000 spectators expected to attend the rodeo, these exhibits are a perfect way for vendors and representatives of these commercial ventures to create brand loyalty and a following among local residents.

Rodeo Austin is one of the largest indoor rodeos in the country, and cowboys and cowgirls compete for awards. The Xtreme Bull Riding and Pro Rodeo and Pro Rodeo finals are also very popular, and are held at the middle and the end of the month of March, with many events held at the Travis County Expo Center and Fairgrounds east of Austin on Decker Lane, adjacent to Lake Walter E. Long.

The rodeo was founded in 1938, with the goal of advancing education as well as preserving the Western Heritage of the folks of this area, and in 2008, Dodge was named the official truck of the Austin Rodeo. Also in 2008, the youth auction was moved to the new Long Center for the Performing Arts, a beautiful new city coliseum located on the south of Lady Bird Lake. Also, in 2008, new attendance records were set for the cowboy breakfast, which drew a crowd of 7,000 participants.

In 2007, the Cowboy Classic golf tournament, held at the same time as the rodeo, broke auction sales records with over $300,000 in proceeds going to scholarship funds associated with the rodeo and golf tournament. The event was also broadcast on the internet for the first time, drawing huge numbers of viewers.

There are numerous opportunities for volunteers to give their time and energy to benefit the success of the rodeo as well, and over 2,500 people volunteered their time for the rodeo last year, with many already signed up this year too. So whether you attend as a participant, a spectator, or a volunteer, or all three, be sure to sample the western-themed event and peripheral activities, and enjoy all of the many events, games, sports, dances, music, refreshments, and entertainment.

So this year, take your friends and family to the Star of Texas Rodeo and enjoy the activities of the Old West in modern surroundings, and sample the cuisine and pastimes of the settlers of Travis County and central Texas. You will be glad you did!


Ki lives, and works in Austin Texs. Ki's website focuses on Austin real estate. It includes a search of Austin MLS listings. His site also has a Austin real estate blog which contains updates and statistics on the Austin market.
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Jul. 25, 2009 - The Economic Recession and Texas

The Federal Reserve has determined that household net worth--all the things of value a person has like houses and checking accounts--dropped nine percent in the last three months. This is the biggest quarterly decline in over fifty years. Things seem bad for the average American these days, but nine percent is nothing compared to the 25% drop in wealth of Dell Inc. CEO Michael Dell.

What's even more interesting is, despite losing billions of dollars last year, Dell actually moved up 15 spots in the list of the world's billionaires. Forbes' annual list of all the world's billionaires was shorter this year and added up to a quite a bit less money. According to an Austin-American Statesman article this week, compared to last year's list of 1,125 billionaires there were only 793 making the list this year. The worth of the world's billionaires was nearly half of what it was last year, dropping from $4.4 trillion to $2.4 trillion.

The average American struggling to make ends meet probably doesn't feel much sympathy for the "struggling" billionaire. However, losing $18 billion dollars can't feel that great to Microsoft Corp. founder Bill Gates. In Gate's case, this could mean millions less available for his many charitable contributions, not just a little less caviar in the pantry.

The household net worth of Americans has dropped for the sixth straight quarter after reaching a historical high of $64.36 billion in mid 2007. The household net worth is nationally 20 percent below that peak right now. Most Americans feel this drop acutely as paychecks and bank accounts are shrinking.

The unemployment rate is above 10 percent in states like California, South Carolina and Rhode Island. Michigan has the nation's highest jobless rate at 11.6 percent. Texas has been fortunate to have seen some job growth in the last year, keeping the state unemployment rate under seven percent. It is slightly lower for the Austin metro area. The national unemployment rate was 8.1 percent in February.

There was a little good news this week as Citigroup reported a modest profit, causing the stock market to rebound. Both JPMorgan Chase and Citigroup operated at a profit in January and February, a first since 2007. The stock market has remained steady on the hopefulness of the good news this week after weeks of record lows.

But it seems for the most part the news remains grim as companies continue to cut jobs. President Obama said this week that things are not as bad as people think. He is afraid that the nation is working under a "Chicken Little" mentality right now when they should be looking to future with more confidence. While there may be some disparity between the reality versus the perception of this recession, there is no arguing that the financial landscape is different for everyone these days. From the billionaire on down, the bank statement doesn't look as good as it has in years past.

Texas was one of the last states to start feeling the squeeze of this recession and our rugged landscape in many ways remains relatively unchanged. As home prices in the Austin real estate market have started to slide down and unemployment has started to creep up, the area continues to show its resilience. This week is a good example, as drought conditions get a little break with some rain and Austinites celebrate South By Southwest, the future may seem a little more hopeful. It's all relative.

Ki graduated from the University of Texas, and now works in the Austin real estate market. He maintains a website, which has a searchable database drawing from Austin MLS. His site has information on historical mortgage rates along with general information on the Austin real estate market and neighborhood statistics.
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Jul. 25, 2009 - The 5 Year ARM Hits A Low For The Year

The 5 Year arm dropped from 4.83 to 4.74 this week reaching a low for the year. What is interesting is that we have moved back to a normal state when comparing the 4 major mortgage products to each other. Earlier this year the 5 year arm fell below the 30 year fixed rate which is highly unusual. This basically made the five year arm pointless for borrowers. But with the drastic fall in the 5 year rate in the last few weeks we are now starting to see a normal relationship between the 5 year arm and the 30 year fixed rate.

Why is this happening? Its hard to know for sure but it might have to do with the risk of inflation. Earlier this year it seemed that banks were pushing up rates for the 5 year arm in part because they had lost so much money on arm related mortgages that they were not interested in making more of these loans with their associated high risk of foreclosure. But now with mortage rates at historical lows and inflation on the horizon the prospect of giving out loans with a 30 year term is probably less appealing. The prospect of giving out loans where the interest is only fixed for 5 years has some advantages. Below are rates for different mortgage products for the last few weeks and from January 8, 2009 (6 months ago)

Jul 23, 2009
30-yr 5.20 15-yr 4.68 5-yr ARM 4.74 1-yr ARM 4.77

Jul 16, 2009
30-yr 5.14 15-yr 4.63 5-yr ARM 4.83 1-yr ARM 4.76

Jul 09, 2009
30-yr 5.20 15-yr 4.69 5-yr ARM 4.82 1-yr ARM 4.82

Jul 02, 2009
30-yr 5.32 15-yr 4.77 5-yr ARM 4.88 1-yr ARM 4.94

Jun 25, 2009
30-yr 5.42 15-yr 4.87 5-yr ARM 4.99 1-yr ARM 4.93

Jan 08, 2009
30-yr 5.01 15-yr 4.62 5-yr ARM 5.49 1-yr ARM 4.95

Comparing today's rates to rates from 6 months ago its interesting to look at the 30 year versus the 5 year arm. While the 30 year rate has risen from 5.01 to 5.20 in the last 6 months the 5 year arm has falled from 5.49 to 4.74 in the same time period. Using our mortgage calculator widget we calculated the mortgage payment for a 200k loan based on today's rates and mortgage rates from 2 weeks ago and December

Jul 23
30-yr $1098.22
15-yr $1548.44
5-yr ARM $1042.08
1-yr ARM $1045.7

Jul 02
30-yr $1113.09
15-yr $1557.72
5-yr ARM $1059.02
1-yr ARM $1066.32

Jan 08
30-yr $1074.86
15-yr $1542.28
5-yr ARM $1134.32
1-yr ARM $1067.53

Looking at these numbers we see the same thing. Since January 8th the payment on a 200k loan with a 30 year fixed mortgage has risen by 2 percent but the mortgage for a 5 year arm has dropped by over 8 percent. I would still not recommend a five year arm in the current market in most circumstances. Since rates are likely to increase the difference (although large) is probably not worth locking in for 30 years unless one is sure they A) they plan on moving in less than 5 years and B) are confident they will be able to sell their house.


Ki works in Austin Texas. His site is a clearinghouse of information on Austin Texas real estate. It also provides different mortgage widgets including a mortgage calculator widget.
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Jul. 25, 2009 - Texas State Parks

It's not the Bahamas, but Texas State Parks can offer surprisingly enjoyable getaways for a fantastic price. The Hill Country offers a bevy of beautiful state parks within a two hour drive. Whether it's a day of picnicking and fishing or a full-fledged camping trip, there are over a dozen state parks in the Hill Country region alone.

Less money in the vacation budget this year doesn't necessarily mean everyone is destined to spend the summer hanging out in the backyard. Even if camping, hiking or fishing have never been activities someone has tried before, a day spent at a local state park may offer some surprisingly simple fun.

At a little over an hour's drive, Inks Lake State Park is a great example of a fast, fun getaway. If tent camping sounds a little too rustic, Inks Lake SP offers small air-conditioned cabins. However, the prettiest campsites are those right along the edge of the lake, which have water but no electricity available. Bathrooms with showers are located throughout the well-maintained park. Basic camping equipment, like a tent, sleeping bags and cooking supplies can be bought for less than price of one airline ticket.

If a day trip for hiking sounds a little more doable, Enchanted Rock State Natural Area is the perfect destination. The park just north of Fredericksburg Texas is a popular weekend destination, so a weekday trip may offer a better opportunity to fully enjoy all this park has to offer.

Enchanted Rock was designated a National Natural Landmark in 1970, and opened as a State Park in 1986. It is said that the huge, pink granite dome has attracted visitors to the Enchanted Rock area for 11,000 years, including the Tonkawa Indians who gave it the name Enchanted Rock for the explorers who seem to disappear into the magical rocks. Hikers of all levels can enjoy exploring the rock face that rises 1825 feet above sea level and covers 640 acres.

Farther destinations include Colorado Bend, Garner, Devil's Sink Hole and Kickapoo Caverns. All of these state parks offer their own unique beauty, from prehistoric caverns to rocky terrain to peaceful lakes. Tons of helpful information about all of the Texas State Parks can be found on the web at the state of Texas website.

Throughout the year the state parks offer a variety of activities. This month, for example, the closest park McKinney Fall SP is offering a day at the park for kids to ride bikes, go on nature hikes, learn about archery and study fossils. Or adults can take a free class to learn the basics of flyfishing.

Perhaps the Texas State Park service says it best: "Few states can match the breadth of activities offered by Texas state parks. From horseback riding and aerial tram rides to world-class fishing, mountain biking and beautiful scenery, our state parks have it all." So go exploring this spring and discover what's right in Austin's own backyard. It sure beats sitting around the house.


Ki caters to future buyers of Austin real estate. He maintains a site covering Austin Texas http://www.escapesomewhere.com along with a searchable database of the Austin MLS http://www.escapesomewhere.com/realestate_searchthemls.html His site also has information on Fredericksburg Texas http://www.escapesomewhere.com/city/fredericksburgrealestate.html He has worked in Texas real estate market for over ten years.
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Jul. 18, 2009 - Details on the First Time Home Buyer Tax Credit

There is a provision in the Housing and Economic Recovery Act of 2008 that allows first time home buyers the ability to receive a credit on their taxes of up to $7,500 for purchasing a home. There is also a provision in the American Recovery and Reinvestment Act of 2009 that expands this tax credit for qualified first time home owners. The provision is called the first-time homebuyer credit.

The 2008 first-time homebuyer credit was created to infuse the slumping housing market, and is treated like an interest-free loan. Qualified participants were required to repay the loan interest-free over a period of 15 years, making 15 equal annual payments. You can find more details about this tax credit on the IRS website.

The provision in the American Recovery and Reinvestment Act of 2009 increased the first-time homebuyer tax credit to $8,000 for purchases made January 1 - November 30, 2009. In contrast to the 2008 tax credit, new home owners do not have to repay the credit as long as they do not sell their home within three years of closing on the home.

You need to be armed with the facts before you go to purchase a home on the assumption that you'll receive the credit. The following FAQs will help you navigate through the quagmire of confusion that has surrounded this tax credit.

* Who is eligible? Taxpayers who have not owned a home within the U.S. three years prior to purchasing a new or resale home in the United States. The closing and transfer of title on the home must be completed between April 9 and December 31, 2008 for the 2008 credit, and between January 1, 2009 and November 30, 2009 for the 2009 credit.

* What is the amount of credit? The credit allows for 10 percent of the purchase price. The maximum credit is $7,500 for 2008 and $8,000 for 2009.

* Are there income limits? Income limits are $75,000 for a single filer and $150,000 for a couple filing jointly. The IRS bases the credit on your modified adjusted gross income (MAGI). Your MAGI equals your adjusted gross income (AGI) plus IRA contribution deductions, foreign housing deductions, student loan deductions, higher education expense deductions and foreign income. Partial credit is available to some with higher MAGI.

* Does my home qualify? The home qualifies if it is the taxpayer's principal residence, is located within the U.S. and purchased between April 9, 2008 through July 1, 2009 for the 2008 tax credit, and January 1, 2008 through November 30, 2009 for the 2009 tax credit. For new construction, the date you actually occupy the residence will be considered the purchase date.

* What if I don't owe taxes or I'm exempt from filing? It doesn't matter. The credit applies to qualified applicants regardless of filing requirements, even to those who do not owe taxes or are exempt from filing. You may file solely to claim the first-time home buyer credit.

* How do I claim the credit? Although you are not required to claim the credit, you may do so by filing a Form 5405. You'll need to file the form with the applicable 2008 or 2009 federal income tax return.

* Does the tax credit act as a tax deduction? No. A tax deduction only diminishes the amount of income taxed. For instance, if the taxpayer's AGI is $40,000, then a deduction would reduce the amount taxed by $8,000, depending on the amount of applicable credit. The taxpayer would be taxed on the remaining amount of $32,000. Instead, the credit is directly deducted from what the taxpayer owes the government. If the taxpayer owes $2,000 to the IRS, then $6,000 would be the amount refunded to the taxpayer. If the taxpayer owes nothing, then the entire $8,000 would be refunded, depending on the applicable credit.

Ki has sold Austin real estate for almost 10 years. He works with a variety of buyers. His website offers listings directly from the Austin MLS. His site also has general information on Austin real estate and a mortgage widget to keep up to do on current trends with mortgage rates.
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Jul. 18, 2009 - Mortgage Rates Continue to Fall

Mortgage rates continue to fall this week. The 30 year rate fell from 5.32 to 5.20. While this is not lower than the rates we saw a few months ago this is lower than any recorded rate before the start of 2009. The 15 year rate fell as well dropping from 4.69 to 4.63. In the last 5 weeks rates have fallen steadily each week going from 5.59 to 5.14. Below are rates from the last 5 weeks and rates from December 31, 2009 (6 months ago).

Jul 16, 2009
30-yr 5.14 15-yr 4.63 5-yr ARM 4.83 1-yr ARM 4.76

Jul 09, 2009
30-yr 5.20 15-yr 4.69 5-yr ARM 4.82 1-yr ARM 4.82

Jul 02, 2009
30-yr 5.32 15-yr 4.77 5-yr ARM 4.88 1-yr ARM 4.94

Jun 25, 2009
30-yr 5.42 15-yr 4.87 5-yr ARM 4.99 1-yr ARM 4.93

Jun 18, 2009
30-yr 5.38 15-yr 4.89 5-yr ARM 4.97 1-yr ARM 4.95

Jun 11, 2009
30-yr 5.59 15-yr 5.06 5-yr ARM 5.17 1-yr ARM 5.04

Dec 31, 2008
30-yr 5.10 15-yr 4.83 5-yr ARM 5.57 1-yr ARM 4.85

So the question remains after rising a few months ago why are rates suddenly falling. Part of it can be attributed to the negative economic news that has been coming out. While the economy is not necessarily getting worse the recovery seems to be moving slower than first thought. The slow recovery has put the breaks (for now) on inflation fears and has probably helped to push down interest rates as well. This is of course good news for the real estate market. The longer rates stay low the better the prospects for the real estate market to get rid of some of the excess inventory that has built up over the last few years.

In addition to rates we like to look at mortgage payments. Using our free mortgage calculator we looked at mortgage payments based on today's rates for a 200k mortgage.

Jul 16
30-yr $1090.82
15-yr $1543.3
5-yr ARM $1052.96
1-yr ARM $1044.5

We also did the same calculation on rates from 5 weeks ago (when rates first started to fall) and rates from the beginning of the year.

Jun 11
30-yr $1146.89
15-yr $1587.84
5-yr ARM $1094.51
1-yr ARM $1078.53

Dec 31
30-yr $1085.89
15-yr $1563.93
5-yr ARM $1144.37
1-yr ARM $1055.38

As we can see the drop in rates over the last few weeks is rather significant. A mortgage payment would be 4.88% less today than it was 5 weeks ago. For a 200k it would be $56.07 cheaper a month.

So what is going to happen in the future? It's hard to tell and I will be the first to admin I was pleasantly caught off guard by the recent drop in rates. While its hard to know what is going to happen in the next few weeks over the next 6 months I would expect rates to rise significantly as the economy starts to recover. Over the next few weeks I would expect there is more of a risk of rates rising than falling simply because rates are incredibly low now.


Ki works as an agent in the Austin market and enjoys spending his free time in the hill country. His site provides information on mortgage rates along with a free mortgage calculator. It also provides extensive information on Austin Tx real estate.
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Jul. 18, 2009 - Blanco, Texas: Gateway to the Hill Country

The small city of Blanco, Texas is frequently referred to as both the Gateway to the Hill Country and the Lavender Capital of Texas, and with such colorful descriptions, the town is sure to be a pleasant place to visit or settle down. Blanco is 45 miles west of Austin and about 45 miles northwest of San Antonio, so its rural charm is complimented by close proximity to a couple of the most populous and historic cities in Texas.

Blanco, which is located on the Blanco River in an area of the Hill Country called the Devil's Backbone due to its nearly mountainous terrain, was established around the year 1854 when Captain James Callahan camped in the valley near the Blanco River and decided to make his home there. A few years later, Callahan and his troop of around 100 men were initiated into the State armed forces as Texas Rangers and Callahan and his company laid out the town and sold lots for homes to be built.

Shortly thereafter, another settler, Joseph Bird, settled in nearby Round Mountain, which was called Bird Town after his arrival, and many other settlers bought lots and began raising families, including Hugh McLauren, Billy Trainer, and E.C. Hinds. The same year, the first church was built and opened for worship, called the First Methodist Church, and shortly thereafter, the Missionary Baptist Church began services in nearby Round Mountain. Afterward, a school was built and other houses of worship were organized, and the little town began to grow.

Blanco was originally called Pittsburgh, and the name was changed to Blanco around the time of Callahan`s arrival. The new name was derived from the Spanish word for white, which was how the limestone riverbed appeared during times of drought when the light-colored limestone could be seen from the banks of the river. After a big flood in the mid-1800's, the town center was moved across the river and a few miles downstream, and renamed Blanco.

In its early years, many Blanco residents were cotton growers, but after the boll weevil took its toll on the cotton crops, the residents found other ways to support themselves, including cattle ranching and raising Angora goats to produce the fine mohair which was an important fiber crop at the time, along with growing and cutting cedar trees and dairy farming. Another source of income was hog raising, and numerous head of sheep were herded to the area from Missouri and Pennsylvania for wool production.

Many of these endeavors continue in the Blanco area today, and the tourist industry is also a large part of the Blanco economy, with many bed and breakfast inns providing visitors with a quiet, rural place to stay while exploring the Texas Hill Country and all its attractions. The population of Blanco in the 2000 census was about 1,500 occupants, and the area of the town is 1.7 miles, .1 mile of which is water, mostly the waters of the Blanco River.

Blanco is home to 576 households, 47% of which are married couples, and the population is 88% white, with a smattering of different ethnicities as well. The median age of residents is 39 years and there is a larger percentage of women in Blanco than men, at 88 men for every 100 women. The median income for a household in Blanco is about $31,000, and 32% of the households have children under the age of 18.

The Blanco real estate market, with homes in the mid 100's, is fairly affordable compared to the Austin real estate market (with an average price of around 200k). But it is fairly similar to the San Antonio market which is considered one of the most affordable real estate markets of the large Texas cities.

Some of the attractions in Blanco today are the Blanco Classic Car Show, which has been held for over 20 years in mid-May, and the Blanco Lavender Festival, which is held every year in mid-June and which features live music, lavender farming, and various foods, beverages, and other activities.

Some of the notable bed and breakfast inns include the Paradise Lofts on Main, the Grape Creek Inn, and the Blair House Bed and Breakfast, among others. There are also many local restaurants as well as national chain restaurants and fast-food eateries, and there are many parks and nature-related activities, as well as close proximity to the Hill Country vineyards in the area.

So for a peaceful and scenic visit to the Texas Hill Country, come on over to Blanco, and enjoy the scent of the lavenders as well as the rural charm of central Texas!


Ki is a realtor working in the Austin real estate market. He helps future owners find the perfect property with a website that includes a searchable database of the Austin MLS. His site has information on Austin real estate and the nearby town of Blanco Texas.
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Jul. 18, 2009 - Top Things To Do When Visiting Austin Texas

Austin, Texas, is widely known as the "Live Music Capitol of the World", and proudly so. But excellent live music isn't the only thing Austin has to offer. Here are just five of the many reasons to visit the coolest city in Texas.

1. Live Music
From dive bars and clubs to honky-tonks and Austin City Limits and South by Southwest (SXSW, to those in the know), this town has it all when it comes to music. Country, jazz, hip hop, rock, punk, emo, pop and everything else under the sun can be found here, and talented, up-and-coming bands are a dime a dozen. Whether attending a sold out concert at Stubbs or heading over to Auditorium Shores for the summer-long "Blues on the Green" series, you can't go wrong when it comes to good music in Austin.

2. The Capitol
Being the capitol of the great state of Texas is something we take very seriously in Austin. A walk around the beautiful capitol grounds the towering state capitol modeled after the national capitol building in Washington, D.C. will show you a glimpse of the grandeur and heritage we Texans hold so dear. You'll likely also notice our state flag flying high with the national color another thing we Texans take pride in: being the only state which can fly its flag alongside or above the national flag. From the capitol, take stroll down Congress Avenue for incredible views, great food and fun shopping.

3. Sixth Street
Being home to the University of Texas and its 60,000+ students, as well as thousands of young professionals (Austin regularly makes the top ten in national listings of the best cities for young professionals) makes Austin a great place to cut loose and have a good time. Sixth Street is Austin's famous bar district, home to college bars, restaurants, tattoo shops and other tourist-focused businesses. In recent years, the area around Second Street, also known as the Warehouse District, has become Sixth Street's high-class counterpart. Lined with bistros, wine bars, tapas bars and other establishments catering to the mid-20s to mid-40s crowd, the Warehouse District offers a slightly more "mature" place to kick back.

4. Restaurants
Austinites don't do anything halfway. They work hard, play hard, and eat well. From country fare to five star French cuisine, and bar-be-que to sushi, Austin has it all in terms of restaurant options. While many of the top restaurants are downtown near the capitol, Sixth Street and the Warehouse District, you don't have to go downtown to get a good meal. In fact, some of the best food in Austin can be found in unexpected, out-of-the-way places. Whatever you're in the mood far, you won't have to go far to find it in Austin.

5. Shopping
In addition to food, Austin takes shopping seriously. With a huge community emphasis on shopping locally, you can find everything from the freshest produce and the hippest one-of-a-kind clothes. South Congress Avenue has become one of the coolest shopping destinations in the city, and is worth checking out whether or not you're in the mood to shop. Likewise, South Austin is home to a huge community of artists, craftsman, designers and other creative types making incredibly unique pieces that scream, "Austin original!"

Whatever you're in the mood for a day in the park or a night on the town "Austin, Texas, has what you're looking for, and more.


Ki has worked with central Texas real estate market for almost 10 years. He has sold to a variety of buyers. His site offers information on Austin Texas real estate and along with a graphical Austin home search. It also contains a blog with updated statistics and analysis on Austin real estate.
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Jul. 4, 2009 - Trees Offer More than just Shade : Austin's New Tree Regulations

Austin takes its trees pretty seriously. This spring the Austin City Council considered rules for how developers can both treat existing trees on a property and quotas for planting future trees. This effort comes through the city's Watershed Protection Department and would represent the first major change to Austin's tree rules in 25 years.

As reported by the Austin-American Statesman, these rules are part of an ongoing effort to reduce the effects of urban heat islands, which are exactly what they sound like: urban areas dominated by buildings, roads and parking lots that trap heat. These non-permeable, dry surfaces cause temperatures that are 50 to 90 degrees warmer than the actual air temperature. The Environmental Protection Agency reports that shaded, moister areas, more commonly rural areas, remain close to air temperature. That means that on a 100 degree day a parking lot is giving off temperatures closer to 200 degrees.

These urban heat islands affect energy consumption, particularly in denser city centers. There is a vicious cycle of increased energy consumption, which leads to elevated emissions and greenhouse gases that warm the surface temperature that cause an increased need for energy consumption to air condition buildings...The cycle goes on and on. The elevated temperatures caused by these non-permeable urban heat islands impair air and water quality. In other words, as Austin grows the quality of life diminishes in some respects.

It's not just the shade that trees offer that makes them so central to environmental efforts. Trees absorb carbon dioxide from the atmosphere, largely considered to be the principal gas that is the cause of increased temperatures in the earth's atmosphere. Efforts like these in Austin to maintain current trees as well as plant more trees are beneficial on many levels. The Los Angeles Times recently reported that efforts in California to save forests by restricting logging have long lasting benefits to combating climate change. A tree saved here improves the quality of air for the neighborhood; a forest saved in California can improve the air quality for an entire state.

And Austinites are all about saving trees, as the recent uproar of the possible removal of trees at Barton Springs Pool has shown. In April city officials announced that as many as 29 trees would need to be cut down around the area of the pool and Zilker Park playscape. For obvious reasons this did not go over well with the city's residents. Through the power of the people, only three trees are now slated to be cut down sometime this summer.

The reasons to plant trees and care for existing trees are both environmentally and aesthetically compelling. Unfortunately, there are many issues at the root of the future tree rules and rulings, like the one about the trees in Zilker Park. The fact is, trees, old and new, cost money. The rules proposed by the city council will cost developers more money, which at some point gets passed down to the consumer. The same thing with a city that is compelled to care for its aging trees; eventually that is going to come out of the taxpayers' pockets. However, the cost to the planet in the loss of trees may be one we can't afford to pay.


Ki works as a real estate agent in Austin Texas. He maintains a website for buyers to search Austin MLS listings. His site has information on Austin real estate and Cedar Park real estate.
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Jul. 4, 2009 - The Hancock Neighborhood of North-Central Austin

The Hancock Neighborhood of North Central Austin is a historic area just north of the University of Texas Campus and downtown Austin. The Hancock Neighborhood is very close to historic Hyde Park, and some of the streets and borders of the two neighborhoods overlap or are adjacent to each other. The boundaries of the Hancock area include I.H. 35 the east, Duval to the west, 29th street to the south, and 41st street on the northern edge.

One of the earliest settlers of the Hancock area was Susanna Dickinson, who was a survivor of the Battle of the Alamo, and originally lived at 32nd Street and Duval. Another early resident was Lewis Hancock, for whom the neighborhood was named, and who was mayor of Austin from 1895 to 1897. Hancock also founded the Austin Country Club and Golf Course in the area in 1899, and after the turn of the century, formal neighborhoods were planned in the North University area, which it was called at the time.

Directly south of the country club, which was considered suburban at the time, Dr. J.R. Bailey platted the Beau Site in 1910, and in 1912, the Austin Country Club expanded to 18 holes after the land east of Red River on which it was expanded was purchased by the club and its owners. In 1928, the neighborhood was subdivided into its current configuration, and Austin's population at the time was only around 35,000 residents, so the area was still considered to be on the outskirts of town.

St. David's Hospital was built around 32nd Street in 1924, when it opened its doors, and Concordia Lutheran College was also built on twenty acres of land from the Hancock Estate in 1926. Various commercial establishments sprang up shortly thereafter, and many prominent Austinites relocated to the Hancock neighborhood around the same time, including J. Frank Dobie, a well known writer, and Edgar Perry Jr., a cotton broker, as well as Tom Miller, one of the early mayors of Austin who served two terms as mayor.

In 1946, the Austin Country Club relocated outside the city limits, and the city sold the back nine holes of the Hancock Golf Course, as it was called after the country club relocated, to the Sears Corporation to finance other recreational projects. The Sears store later became one of the flagship stores in the Hancock Center shopping Plaza, which was built in 1963 on the back nine of the golf course and was Austin's first shopping mall. The other flagship store in Hancock Center is a huge HEB Grocery Store, which offers one of the largest selections of products among grocery stores in the Austin area, among various other smaller stores, shops, and restaurants.

There are many tree-lined historic homes in the Hancock Neighborhood, and numerous apartment complexes which appeal to U.T. students, given the area's proximity to the university campus, and also numerous restaurants, coffee shops, museums, and recreational facilities, including the Hancock Golf Course, which still operates today.

Eastwood Park and Wading Pool, near the Hancock Golf Course, is another popular location for residents of the neighborhood to relax and get some outdoor quality time, and since Concordia University plans to relocate this year, a mixed-use development is being constructed on the site of the school, so many more opportunities abound for residents of the area as well as visitors in the near future.

With its proximity to downtown and the university, plus its tree-shaded streets, homes from the early 20th century, and eclectic mix of residents and businesses, the Hancock Neighborhood is one of the most inviting in the Austin area, and the yearly Christmas Trail of Lights, on 34th Street, is one of the best events to visit to see the neighborhood in all its splendor, so be sure to visit the Hancock Neighborhood, especially during the holidays, and you will see what Austin is truly all about!


Ki studied at UT. He hosts a website focused on Austin real estate. Potential owners can perform a Austin home search on his site. He also provides profiles on neighborhoods in the central Austin real estate market.
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Jul. 4, 2009 - Mortgage Rates Fall Again

Mortgage Rates fell this week with the 30 year rate dropping from 5.42 to 5.32. They have fallen .27 points from their recent high of 5.59 reached on June 11, 2009. Rates are still up from the all time low of 4.78 they reached on April 30, 2009. Except for the 1 year arm the other major rates dropped as well. The 15 year fixed rate dropped from 4.87 to 4.77 and the 5 year arm dropped from 4.99 to 4.88. The one year arm rose slightly from 4.93 to 4.94. Below are rates for the last few weeks.

Jul 02, 2009
30-yr 5.32 15-yr 4.77 5-yr ARM 4.88 1-yr ARM 4.94

Jun 25, 2009
30-yr 5.42 15-yr 4.87 5-yr ARM 4.99 1-yr ARM 4.93

Jun 18, 2009
30-yr 5.38 15-yr 4.89 5-yr ARM 4.97 1-yr ARM 4.95

Jun 11, 2009
30-yr 5.59 15-yr 5.06 5-yr ARM 5.17 1-yr ARM 5.04

Jun 04, 2009
30-yr 5.29 15-yr 4.79 5-yr ARM 4.85 1-yr ARM 4.81

Dec 31, 2008
30-yr 5.10 15-yr 4.83 5-yr ARM 5.57 1-yr ARM 4.85

In addition to rates we also like to analyze mortgage payments. Using our free mortgage calculator we took today's mortgage rates and translated them into a mortgage payment for a 200k loan. We did the same thing with rates from June 25, 2009 and December 31, 2008 (6 months ago).

Jul 02
30-yr $1113.09
15-yr $1557.72
5-yr ARM $1059.02
1-yr ARM $1066.32

Jun 25
30-yr $1125.55
15-yr $1568.07
5-yr ARM $1072.42
1-yr ARM $1065.1

Dec 31
30-yr $1085.89
15-yr $1563.93
5-yr ARM $1144.37
1-yr ARM $1055.38

While a potential mortgage payment is down from last week it is up $27.20 (2.5 percent) from 6 months ago.

Although rates are low it's important to note that loans are not freely available. Banks are still extremely strict on the properties and individuals that will receive loans. For instance loans for non warrantable condos (where 50% or more of the units are rented instead of owner occupied) have pretty much disappeared. The credit scores thresholds needed for a loan have increased as well. So although mortgage rates are near historic lows the lending industry continues to be the biggest negative factor dragging on the real estate market.
So what do we expect to see moving forward? There is a huge upward pressure on mortgage rates because of the amount of borrowing the US government has engaged in over the last year. So while it's hard to know what is going to happen over the next month we should see higher mortgage rates in the next year. Since rates are going to be higher this is a good reason to avoid the 1 year arm since by the time the arm expires rates could be over 8 percent.

More importantly is whether the lending industry will ease up on some of the current mortgage restrictions. While when the market finally improves it's assumed some lending restrictions will disappear but it's doubtful that lending restrictions will ease up before then.


Ki lives in Austin Texas. His site provides a mortgage widget along with a free mortgage calculator. It also has a search for Austin Tx real estate.
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Jul. 4, 2009 - Mount Bonnell : Austin History, Legends and Views in one Spot

It may seem a little crazy to go hiking in the hot Texas summer, but if you can stand the heat the summer months can be a perfect time to visit an iconic Austin spot without any crowds. Even though it is 780 feet above sea level, the climb up to the top of Mount Bonnell is not a serious hike, especially with the stone steps along the way.

Mount Bonnell, like so many favorite Austin spots, is full of history as well as legends. The peak is named in honor of George W. Bonnell, a Texas publisher and Commissioner on Indian Affairs under Sam Houston. The peak and surrounding park land off FM 2222, which is actually called Covert Park, was donated to the city in 1939, one hundred years after Bonnell arrived in Austin. That's the history part; the legends and folklore are much more whimsical.

The legend goes that a young woman jumped off the peak to escape the Indians who had killed her finance, which is why Mount Bonnell is also known as "Antonette's Leap." Another legend has it that Golden Nell and her husband Beau leaped off the peak to avoid being captured and tortured.

Romance is often in the air at Mount Bonnell. It is said that if a couple climbs the long stairway to the top once they will fall in love, twice they will become engaged and if they make that climb a third time they will get married. Going at sunset or to see the stars above the city lights is a popular Austin date. It is a romantic spot that has seen many Austin couples get engaged.

A tourist attraction since the 1850s, Mount Bonnell has a pavilion at the top with picnic tables, making it a popular spot to pack a cooler and bring the camera for tourists and locals alike. The views of lakes, hills and cityscapes are amazing. The rugged Hill Country views to the west and the manicured lawns below the peak show the diversity of the Austin landscape at its best.

Hiking around the pavilion can allow visitors to take in different views, including the downtown skyline. For anyone wanting to show an out-of-towner just what Austin has to offer, this is the perfect spot.

If a someone is looking for a tougher hike, Enchanted Rock State Natural Area out towards Fredericksburg offers challenging hikes, along with a nice drive through the Hill Country. Shade is sparse on this granite dome, so hikers may want to wait until summer is over. McKinney Falls State Park is a little closer to Austin and offers climbs, as well as cool water for hikers more interested in nature than the view.



Ki worked on 6th street in college. Today he has a business focused on Austin Texas real estate in downtown Austin. He also has a website, which encourages buyers to search the Austin MLS. He also also had a blog with updates and news on Austin real estate.
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