There are a plethora of historic homes existing in the U.S. today. Some are noted for their connection to our heritage as a nation. Others are famous for their association to crime, criminals and movie stars. And, of course, you've got literary greats, real estate tycoons, media moguls, publish giants and all the rest. Here, you'll find just a few with details that might surprise you.

Robert E. Lee's old home, AKA Custis-Lee Mansion, became home of the honorable Arlington National Cemetery. Overlooking the Potomac River, the Greek revival style manor was selected by the government as the site for the cemetery to ensure that Lee never again returned to his home after the Civil War. Sitting on 1,100 acres, the mansion hosts two kitchens for the summer and winter. The most prominent features of the estate are the eight massive, 5-feet-in-diameter columns supporting the portico. The mansion is managed by the National Park Service, while the surrounding grounds, known as Arlington National Cemetery, are managed by the U.S. Department of the Army.

William Randolph Hearst, newspaper magnate and grandfather to the infamous Patti Hearst, once owned a mansion at 1101 N. Beverly Dr. in Beverly Hills, California with his actress girlfriend Marion Davies. Built in 1926, it's estimated worth is $165 million with 9 bedrooms, 15 bathrooms, 20,570 square feet of living and sits on a 153,766 square foot lot. Just a small slice of heaven right there outside of Hollywood. If you were in the market to buy the property with a 30-year, fixed-rate loan at, let's say, 4.91 percent with 20 percent down, you'd have estimated monthly payments of just $31,645. Can you say cha-ching?!

George Washington Vanderbilt II completed the construction of the Biltmore Estate in 1895, which is located in Asheville, North Carolina. With 250 rooms in 175,000 square feet of living space, the home is the largest privately owned estate in the U.S., and is still owned by Vanderbilt's grandson, William A. V. Cecil II. The French Broad River divides the estate in half. Resting magnificently on 8,000 acres, the mansion echoes the sentiment of an elaborate French chateau and the excesses of the America's Gilded Age. It was inducted in the National Historical Society and designated a National Historic Landmark in 1964. Tourists worldwide visit the palatial estate throughout the year. Featured are a 70,000 gallon indoor swimming pool, a bowling alley, a two-story library, dated antiquities throughout and 75 acres of formal gardens with a winery and triple A, 4-diamond, 213-room hotel called the Inn on Biltmore Estate. Tickets to tour the estate may be purchased in advance on the Biltmore website.

David Gamble of Proctor & Gamble fame hired architectural firm Greene & Greene (G&G) to design the Gamble House (AKA David B. Gamble House), which was completed by 1909. Located in Pasadena, California, the estate was declared a National Historic Landmark in 1977. Matching inlay was designed by G&G for the custom-made furniture and tile mantle surrounds, which were built by contractors Peter and John Hall. A secret door that leads to the kitchen is hidden in one of the wooden panels of the entry hall. Another panel leads to a clothes closet. The three-story, Arts and Crafts masterpiece, influenced by Japanese aesthetics, sits on an expansive acreage decorated generously with Arroyo stone paths that give the effect of running brooks. Realizing the artistic significance of the estate, the Gamble family deeded Gamble House in joint ownership to the City of Pasadena and the University of Southern California School of Architecture in 1966.

Al Capone stunned law enforcement with his ability to divert indictments and skirt the law. Infamous for his crime syndicate leadership during the Prohibition Era, Capone lived much more modestly in private in contrast to his flamboyant public persona. Located at 7244 S. Prairie Avenue in Chicago, Capone's 4-bedroom, 2-bath, modest unit in the multi-family home was built in 1908. Last heard, the home was for sale for a mere $450,000. If you wanted to buy it at a 30-year, fixed-rate loan at 4.92 percent with 20 percent down, you'd pay an estimated $1,915 per month.

Nathaniel Hawthorne immortalized the House of the Seven Gables in his literary fictional novel with the same name. Located in Salem, Massachusetts, the home is currently a non-profit museum and still functions as an active settlement house hosting programs for children. Although Hawthorne never lived in the home, he visited his cousin Susannah Ingersoll who lived in the home when he was growing up. One quite clever creation found in the home is what looks like a wooden closet. The false back, however, opens to a hidden staircase leading up to the attic.

Erotica king Hugh Hefner lives in his current Playboy Mansion (AKA Playboy Mansion West) in Los Angeles, California. Located at 10236 Charing Cross Road in Holmby Hills, the manor is famous for its lavish parties and rumored orgies. Built in 1927, the 14,217 square foot home sits on a 219,107 square foot lot and was acquired by Hefner in 1971 for $1.1 million. With 29 rooms, the estate hosts a game room, wine cellar, an aviary, a zoo, tennis courts, waterfall and a swimming pool, along with a sauna and bathhouse. One room in the palatial home known as the "Elvis Suite" has been kept off limits to public viewing. Hefner said the room holds sentiment due to the one night that Elvis Presley stayed in it in the early seventies. He was accompanied by no less than eight girls. Although, sports stars, movies stars and rappers request the suite when they come there, Hefner says he's kept it off limits.

Ki caters to future buyers of Austin real estate. He has a searchable website of Austin homes for sale. He site has statistics and info on Cedar Park and Austin real estate

This is the conundrum of doing good things for the environment: How do you embrace green energy without the old technology providers becoming broke and obsolete in the process? That is the dilemma faced by the City of Austin and Austin Energy as they try to promote solar energy.

Austin Energy began an initiative to increase solar power in the community by offering rebates for installing solar roof-top panels. It is one of the largest solar rebate programs in the country and has provided more than $18 million in solar rebates since 2004. It has been so successful, in fact, that the program had to be revamped recently to accommodate the volume of customers who want to take advantage of the solar rebates. The 400 applications received so far this year far exceed the Austin Energy budget for the program.

Now Austin Mayor Lee Leffingwell has proposed a new program called "Energize Austin" to provide solar power to more people in the community. The program would offer low-interest loans to allow people to install solar arrays on the roof of their home. A large enough solar panel system could essentially eliminate electricity bills, and greatly reduce the income for electricity providers like Austin Energy.

A solar array works through photovoltaic technology that turns sunlight directly into electricity. An average customer can get 10 -40 percent of their electricity through solar panels on the roof. Austin Energy also offers "net billing" meaning that customers using solar energy can get credit for the times the solar panel produces more energy than a home consumes. Solar panels are easy to maintain and can be easily upgraded to larger systems from the existing system.

According to Austin Energy, the whole community benefits from solar power because it is a clean, quiet, renewable energy that reduces the need for energy made from fossil fuels, like coal and oil. It offers a cleaner, healthier environment, as well as creates economic opportunities. For example, due to the success of the solar rebate program, Austin Energy went from using four installers to 24.

But with the City now proposing to loan customers the money for the cost of installing a solar array, something the rebate program did not do,
Austin Energy is concerned that solar energy use in Austin could expand too quickly. According to the Austin-American Statesman, Austin Energy General Manager Roger Duncan says "the city could have trouble maintaining its grid unless it comes up with a new business model for the utility." Austin Energy is using a 10 year plan for the rebate program to allow for the price of the technology to become more competitive.

Austin is probably not unique in this green dilemma. Berkeley, CA came up with the loan idea that Leffingwell is now proposing for Austin, however solar advocates say it did not dramatically change solar use in Berkeley. Austin Energy should be commended for its many green initiatives, not just the solar rebate program. The hope is that there is a way forward to improving the environment without everyone, including the companies that have provided services for decades, having to pay too high of a price.


Ki lives in the Austin area, where he enjoys biking the hill country. His website compiles information on Austin Texas real estate. His site has a graphical search of the Austin MLS along with a statistics blog on Austin real estate.

The fact is that the financial meltdown, now widely known as the Great Recession, started on Wall Street. It is also a fact that the meltdown quickly reverberated off the pavement of Main Street in the form of foreclosures and job losses. These things are clear. What is harder to understand is why so many on Wall Street continue to prosper while Main Street is still in shambles.

Perhaps the most blaring of the Wall Street bling is what has become the hated catch-phrase of this recession: executive compensation. While there have been rumblings and rumors of this from day one of the financial meltdown, reports came out in October that the executives of the top seven banks receiving government bailout money would also be receiving billions in bonuses. Big bonuses to the Wall Street elite is not new news, a fact Time magazine recently pointed with an article on the long history of executive pay.

In the 1890s, banker J.P. Morgan made 20 times what the average worker earned. By 1991, CEOs were earning 140 times what the little guy made. The trajectory of executive pay continues to rise, with an average S&P 500 top executive in 2007 earning in just three measly hours what a minimum-wage worker made in a year. Believe it or not, Plato recommended that top earning individuals in a society should never make more than five times what the lowest earner was paid.

Why do these executives get paid so much? If you ask them, they deserve every penny because their prosperity is necessary for everyone else to prosper, too. Goldman Sachs international chairman recently said, "We have to tolerate the inequality as a way to achieve greater prosperity for all." The research to back these claims has so far been mixed. However, there is some empirical evidence that Wall Street pay has reached a level that no longer supports the prosperity-for-all claims.

The recession certainly seems to bear that data out. The indignant uproar over executive compensation at companies that received bailout money has led to the appointment of a "pay czar." Treasury Department official Kenneth Feinberg has been commissioned with reining in the pay of the top 25 executives at each of the seven financial companies receiving the largest portion of bailout funds.

The pay czar proposes to cut salaries and bonuses of those top executives in half, capping salaries at $500,000 and bonuses at $25,000. The hope is that limiting the compensation will in turn limit the amount of risks financial executives are willing to take. The Federal Reserve plans to take limiting risky banking even further. According to the Associated Press, the Fed proposes to monitor executive pay at thousands of banks, even those that didn't receive a dime of bailout funds.

The reality is that Wall Street will always make considerably more than the average (and even the not-so-average) Joe on Main Street. The argument can be made that these are very talented financial wizards who do more good than Main Street realizes. However, the Great Recession offers a powerful counter argument about too much pay and a cautionary tale about taking too much risk.


Ki lives in Austin Texas and works in the Austin real estate market. His site has a search for listings in the Austin MLS. He also has information on mortgage interest rates and general information on Austin real estate

If you're obtaining a mortgage and contemplating whether to get a traditional home loan or adjustable rate mortgage (ARM), there are definitely some things you'll want to consider.

Before deciding on either, you'll want to understand the dynamics and look into the advantages and disadvantages of each. Some considerations to keep in mind are how long you intend on keeping the home; whether one of your intentions in buying a home is to build credit and what will give you the best annual percentage rate (APR) in the beginning and throughout the lifetime of the loan.

Traditional home loans are typically known as fixed rate mortgages (FRMs). The most popular FRM, a longer term mortgage, has the following characteristics:

* Payments are fixed throughout the term of the loan
* Are available from 15 to 40 years, in 5 year increments
* The shorter the loan term, the lower the interest rate
* The shorter the loan term, the less interest you will pay over the life of the loan
* The bulk of loan payments go to interest in the beginning of the loan
* There are penalties for early payoff on some FRMs - ask your lender

Included in FRMs is the balloon loan, a short-term, fixed-rate mortgage. The balloon loan has some advantages in that the interest is typically much lower and you have lower monthly payments than on a 15- to 40-year term loan. The terms are usually from 3 to 7 years, but you are required to pay the remaining balance in full at the end of the term.

If you are considering a balloon loan and think you will be keeping the home for a long period of time, obtain one with a refinancing option. Certain conditions will have to be met, but it allows you to convert the remaining balance of the loan into a longer fixed-rate mortgage at the end of the term without going through the buying process again.

With the caveat of the refinancing option, you don't have to go through another credit check or reapproval of the property. The interest assigned to the new loan will be at the current market rate at the time it is converted. A processing fee may be required when obtaining the new loan. You'll want to ask about this long before you agree to the balloon loan.

ARMs, on the other hand, provide you with a broad array of options, advantages and disadvantages. Similar to a balloon loan, the payments and interest rate are typically lower in the beginning of the ARM term. Periodic assessments are made throughout the lifetime of the loan, which can lower or raise your interest rate and monthly payment.

Keep in mind, interest rates typically are higher at the first assessment of the loan and often continue to rise. These kinds of loans, however, commonly have caps that put a ceiling on your maximum monthly payment that can be required of you throughout the lifetime of the loan. The excess will simply be added to the principal of your loan, which could extend the lifetime of your loan.

ARMs option ARMs are also available, can be very complex loans, so you'll want to understand the conditions of the loan, along with terminology applicable to the loan. Ask your lender prior to committing to an ARM about the advantages and disadvantages.

Generally, ARMS are best suited for those who are making an investment where rents are low and property values are high. This option allows you more cash flow. They also often benefit seasonal workers and those who own businesses where the revenues fluctuate.

Keep in mind, the interest rate on an ARM can adjust as soon as one month from the loan's inception, depending on the conditions of the loan. Some terminology to ask about and pay close attention to is:

* Lifetime cap limit
* Index
* Margin
* Periodic or adjustment cap limit
* Interest rate cap
* Loan recast
* Minimum payment factor

General advantages from a traditional mortgage are that you have significantly more flexible payment options and your monthly payments at the onset of your loan are much lower. One disadvantage is that if you only pay the minimum payment due monthly, your loan will recast at some point and your lender will recalculate your loan payments over the next 30 years based on your remaining balance. This could drastically raise your monthly loan payment.

Again, ask your lender as many questions as you can think of. Compare terms, advantages and disadvantages of each. Make sure you understand the terminology used and conditions prior to agreeing and signing to any loan.

Ki lives and works as a realtor in the Austin real estate market. There is comprehensive Austin home search on his website. His website also has detailed information on Austin real estate and a mortgage calculator widget.

The Great Recession is not the great American equalizer after all. It's been widely reported recently that this recession hit middle and low income families the hardest, while the wealthy have continued to prosper. It may be chic to save and everyone brags about coupon clipping, but the idea that "we are all in this together" may not actually be the case.

According to the Associated Press, incomes have declined across all demographics, but at a greater percentage for middle and lower income groups. "Median income fell last year from $52,163 to $50,303, wiping out a decade's worth of gains to hit the lowest level since 1997." In fact, the gap between the rich and the poor has widened to the point that the wealthiest ten percent of Americans earned 11.4 times those below the poverty line earning $12,000 a year. Previously, the highest earning difference was 11.22 times higher in 2003.

The unemployment rate stands at a thirty year high of 9.7 and a great majority of those job losses have been lower income ones, particularly in construction and manufacturing. While wealthier Americans have had reductions in executive pay, far more of the middle and lower income earners have lost their jobs. This disparity between the rich and the poor is more pronounced in larger cities, like Atlanta, New York and Chicago.

The recession seems to be coming to a close with signs that the economy is finally growing. The Commerce Department reported that the economy shrank less than expected, with gross domestic product dipping just 0.7 percent from April to June, after dropping 6.4 percent in the first quarter of the year (AP). Measuring the value of all goods and services, the GPD is a good barometer of the health of the economy.

The better than anticipated numbers are attributed to businesses and consumers spending more than expected. The better news is largely credited to the government's $787 billion stimulus package and programs like Cash for Clunkers. What is not expected to improve anytime soon is the unemployment rate, which analysts believe will reach 10 percent by the end of the year.

As hiring in most sectors remains stagnate and layoffs continue, the gap between the haves and have-nots is likely to widen. Congress is considering ways to regulate executive pay and this along with The Great Recession is not the great American equalizer after all. It's been widely reported recently that this recession hit middle and low income families the hardest, while the wealthy have continued to prosper. It may be chic to save and everyone brags about coupon clipping, but the idea that "we are all in this together" may not actually be the case.

According to the Associated Press, incomes have declined across all demographics, but at a greater percentage for middle and lower income groups. "Median income fell last year from $52,163 to $50,303, wiping out a decade's worth of gains to hit the lowest level since 1997." In fact, the gap between the rich and the poor has widened to the point that the wealthiest ten percent of Americans earned 11.4 times those below the poverty line earning $12,000 a year.

The unemployment rate stands at a thirty year high of 9.7 and a great majority of those job losses have been lower income ones, particularly in construction and manufacturing. While wealthier Americans have had reductions in executive pay, far more of the middle and lower income earners have lost their jobs. This disparity between the rich and the poor is more pronounced in larger cities, like Atlanta, New York and Chicago.

The recession seems to be coming to a close with signs that the economy is finally growing. The Commerce Department reported that the economy shrank less than expected, with gross domestic product dipping just 0.7 percent from April to June, after dropping 6.4 percent in the first quarter of the year (AP). Measuring the value of all goods and services, the GPD is a good barometer of the health of the economy.

The better than anticipated numbers are attributed to businesses and consumers spending more than expected. The better news is largely credited to the government's $787 billion stimulus package and programs like Cash for Clunkers. What is not expected to improve anytime soon is the unemployment rate, which analysts believe will reach 10 percent by the end of the year.

As hiring in most sectors remains stagnate and layoffs continue, the gap between the haves and have-nots is likely to widen. Congress considering ways to regulate executive pay along with President Obama suggesting higher taxes on the wealthy as one the ways to pay for health care reform, the resentment between the two ends of the income spectrum may also increase. While the Great Recession is the worst state the economy has been in since the Great Depression, some Americans are faring better than others.


Ki's real estate business is based in Austin, Texas. His website gives comprehensive information on Austin real estate. His website provides future home buyers with a free search of homes in the Austin MLS along with a blog with statistics and commentary on Austin Texas real estate.

If you are having trouble keeping up with your mortgage payments, you're not alone. If you are three months or more behind in your mortgage payments, then you are one in an estimated 3 million or more who are currently in one state or another of default.

In this situation, however, what are your options for avoiding foreclosure?

Regardless of where you are right now with your mortgage payments, the most important thing you can do is to contact your lender when you first realize you are having problems. Never ignore communication from your loan servicer.

It is to the lender's advantage to work out a solution with you if at all possible. Discuss options with your lender. Initially, most lenders will not discuss options available until you complete and submit to them a workout packet. A workout packet includes a detailed letter as to how you arrived at your situation, an income and expense statement and other information specified by your lender.

Some workable options may be a loan modification, which modifies the payment and even sometimes lowers the interest rate of your existing mortgage. The intent is to make it more affordable for you to make the payments. Typically, the result is a mortgage payment at 31 percent or below your current total household income.

In the meantime, respond to all communication from your lender. Become familiar with your rights. Read your loan agreement and find out what steps are built into your home loan regarding default.

Research your state's foreclosure laws and the relative timeframes, since laws differ from state-to-state. Information should be available online; however, you may also want to contact your State Government Housing office directly for details. The Department of Housing and Urban Development (HUD) is a great point-of-contact for information.

HUD housing counseling agents are on-hand to assist in this type of situation. You may contact one by calling 1-800-569-4287. You may also access resources in your state via the HUD website.

Once you understand the timeframes and obtain all the information you can regarding your situation, you may want to find a good bankruptcy attorney just in case your lender does not provide you with a feasible option, or does not provide you with a feasible option in time to avoid foreclosure.

In the midst of all your activity to prevent foreclosure, a primary consideration should be to modify your spending. It's amazing how much you can trim when looking at alternatives to entertainment and other purchases.

In the case of job loss or other reasons for reduced income, families often find it difficult to stop the prior cycle of spending. Even if a previous family budget was kept, it's critical to restructure the budget according to the new net income and eliminate any unnecessary spending in order to modify spending habits.

If brands were important before, ditch the brand name and opt for generic or less expensive brands. Hold off on buying clothing and accessories. If you just have to purchase such items, make sure you build a minimal amount into your monthly budget for items that can easily blend into your existing wardrobe. Look for alternative entertainment, like $1.00 video rentals at a local Redbox.

There actually could be a silver lining to this cloud in working with your family members to reduce spending. With input from all family members, you might be surprised at the savings. In addition, if you opt for a weekly eat-in family theme night, instead of that expensive dinner and movie you were used to, a greater sense of bonding might be the result. Also, ask everyone the question, "Are there assets we have that could be sold?" Again, input from all family members could result in some unexpected revenue.

Another benefit found serendipitously through a layoff is that some who have lost jobs have found other opportunities they never would have looked for had they never been laid off.

Finally, stay away from foreclosure rescue companies and schemes. You don't need to spend money that could be used toward your mortgage in trying to save it. Note that all avenues necessary to avoid foreclosure cost you nothing if you access the appropriate resources, unless you have to go into bankruptcy to save it.

Ki lives, in central Texas and works in the Austin real estate market. His website brings a free search of Austin homes for sale to future homebuyers. There is detailed information about Austin real estate along with a mortgage widget.

Austin is one of 79 metro areas across the country to be officially out of the recession, according to Moody's. Although the state of Texas is still considered to be suffering the constraints of the recession, Austin and seven other Texas cities have been given the all clear. This determination was based on an index that included employment, housing starts and home prices.

In fact, the latest poll of economist says that at least 80 percent of them agree that the recession is over. Unfortunately that piece of good news may not mean whole lot as the American economic landscape looks completely different than it did two years ago. The survey by the National Association for Business Economics released recently said to expect a slow recovery. Here are some reasons the recession recovery may be slow:

Unemployment
There seems to be little doubt that the unemployment rate, which is currently 9.8 percent, will reach 10 percent by the first part of next year. Even with the number of new jobless claims down for the fourth week in the last five, layoffs continue. Federal Reserve Chairman Ben Bernanke has warned that unemployment is likely to remain above nine percent through 2010.

Consumer Spending
Worries over unemployment affect consumer spending habits, even of those Americans who have jobs and job security. The personal saving rate is up for the first time in two decades and the cautious spending that began during the height of the recession has not changed appreciably in recent months. For example, when gas prices hit the $4 per gallon mark in the summer of 2008, people significantly changed driving habits. The annual American Community Survey showed that the numbers of Americans commuting to work, a habit stared during the high gas prices, remains the highest number in more than a decade. People are generally not eating out as much or making as many big purchases. It remains to be seen if holiday spending this season will help revive the suffering retail sector.

Real Estate
The economists surveyed expect housing in 2010 to contribute to the overall growth of the economy for the first time since 2005. However, the census data shows that less people are moving these days, with population trends to the sunbelt states actually being reversed. Real Estate prices nationwide are down and the percentage of Americans owning homes dropped to 66.6 percent this year from the high of 67.3 percent in 2006.

Credit
Even with the Dow Jones industrial going over 10,000 and banks reporting billion dollars profits, credit remains tight. A recent report from the Federal Reserve shows that households have reduced their borrowing for the seventh straight month, while at the same times banks are lowering credit limits. Banks seem to be enemy number one when it comes to this recession, yet they have to play an integral part in the recovery. Until credit for both businesses and individuals starts flowing again, employment and housing is likely to remain stagnant.


Ki lives, and works, in Austin, Texas. His site provides potential homebuyers a free search of the Austin MLS. He also provides detailed information about Austin real estate on this site along with profiles of neighborhoods like Westminster Glen in central Austin.

One of the reasons given over and over for the slow recovery from this recession is the amount of debt so many Americans are buried under. The soaring house values of just two years ago made people feel rich and the financial future looked promising. The future look so promising, in fact, that people spent well beyond their means. It is estimated that personal debt has more than doubled in the last ten years to an average $10,000 per American household.

The crash in home values and the sudden rise in layoffs nationwide left many Americans overextended on their home equity loans and credit cards.
With no easy means to pay off their personal debt, many people are turning to credit relief companies for help. While there are many reputable companies out there offering a wide range of debt elimination services, there are even more debt relief scams. Type "debt relief" into any search engine and a plethora of companies pop up, some of which are legitimate and others who will take a clients money and leave them further in debt. The Federal Trade Commission is investigating dozens of companies who have put people further in debt in the process of "helping" them.

There are several options when it comes to getting out of debt and it is a good idea to do research and know the lingo. There is a big difference between a debt settlement and debt consolidation, for example. A debt settlement company will help a consumer make a one-time payment to clear debts, usually for less than what is actually owed. However, these companies charge a hefty fee and while credit reports will show $0 balances after a debt settlement, it will also show any delinquency history.

Debt consolidation can be done with the help of a credit counselor or pursued without the help of a debt relief service. A legitimate credit counselor will sit down with a consumer and help him craft a realistic debt elimination program, usually giving a 3-5 year window for paying down all debt. Debt consolidation is the process of paying off higher interest balances, like those of a credit card, with a lower interest loan, typically from a bank. With the difficulties consumers are facing get loans these days, it may be helpful to go through a service to help with the consolidation process.

Bankruptcy is a route taken by more and more Americans, but really no one wins in this situation: creditors don't get paid and the consumer's credit is ruined. Bankruptcy is a legal process that clears all debts without having to pay them off, but of course, there are legal fees to be considered. It should be considered the last resort alternative. The best way to start digging out from debt is to take a realistic look at spending habits and set a reasonable budget. Before turning to a debt relief service it's a very good idea to check a company's reputation with both the Federal Trade Commission and the local Better Business Bureau.


Ki enjoys living in Austin Texas for the different local restaurants and the hill country. His site is devoted to Austin real estate. It encourages future buyers to search listings on the Austin MLS. His site also has general information on the Austin real estate market along with graphs showing historical mortgage rates.

It is hard to believe just two years ago in October the Dow Jones industrial set a record high of 14,164. According to the Associated Press, just one year after that it was at 8,451 in mid October 2008. Today the Dow is around 9,800. Stocks have rallied recently on signs that retail sales are improving. The last two years have been a bumpy ride.

The AP recently broke down the economic numbers, putting into perspective just where the U.S. economy stands today. "The panic of last fall has been replaced by the resignation that the worst is over but it might be years before the economy booms again." It seems for every gain there is something else to put in the loss column. For example, while the stock market is steadily gaining ground, the total losses in the stock market from the peak of October 2007 to the bottom of March 2009 was a mind-boggling $11.2 trillion.

A positive sign is that after steadily declining for fourteen months, retail sales increased 2.7 percent in August. But the unemployment rate in October 2008 was 6.2 percent and today it is 9.8 percent. Consumer confidence, which is measured on a scale of 1 to 100, was at a record low of 25.3 last October and this month it is 53.1. To put these numbers in perspective, two years ago consumer confidence stood at 95.2.

Some oddly positive side effects of the Great Recession have been the increase in personal savings rate from 0.5 percent in 2005, when home prices were soaring, to 6.9 percent in May 2009. Also, credit card debt held by Americans last September was a staggering $975 billion. That number is down 8 percent now to $899 billion.

To put the housing numbers in perspective, 2005 was a record year with 7 million home resales. January 2009 the annual rate of home resales was 4.5 million, but rose to 5.1 million in August. On the other hand, the median price of homes sold in 2006 was a record high $245,000. The median price of homes sold last October was $213,000 and dipped to $195,000 in August.

Some other signs of the time: Starbucks launched an instant coffee product in September. PepsiCo Inc announced recently that it will continue to offer and develop products with price in mind, feeling customers will continue to be price-conscious even after the recession ends. Retailers will need to stay creative to entice shoppers this holiday season amid rising unemployment. Wall Street may be seeing a smoother path to recovery, but it's still a bumpy ride on Main Street.


Ki works in Austin real estate. He works to help buyers find the perfect property. His website provides general information on Austin real estate. It also allows buyers to search for homes in the Austin MLS along with providing a free mortgage calculator.

Now that long hot summer is over, it's time to reset the thermostat. While there are still plenty of warm days ahead--one of the great things about living in Austin--we hopefully won't be breaking any heat records. Cooler weather means resetting the thermostat, which saves both energy and money.

According to the Earth Day Network, half of most household's energy costs go towards heating and cooling. "The good news is that means you have lots of room for improvement, and even small changes make dramatic improvements in household fuel efficiency." Some of the small things are cleaning vents and replacing air filters, which can save as much as ten percent of heating and cooling energy.

Setting the thermostat just two degrees higher can significantly reduce cooling bills and save energy. Buying a programmable thermostat is also a good idea. Austin Energy even has a Power Partners program, which provides a free programmable thermostat along with installation. The participants in the program agree to coordinate cycling of their air conditioner. For example, the AC would be cycled off between 3 p.m. and 7 p.m. when demand for electricity is highest. Cycling helps keep the demand for electricity level, which saves the city and the individual money.

Another surprising drain on household energy is the refrigerator, particularly if it is an older model. Austin Energy offers cash incentives for turning in old refrigerators, as much as $50, and they will properly dispose of the old one. On average, the refrigerator uses 10 to 15 percent of a household's electricity each month, even more if there is one in the garage as well. Setting the thermostat lower, cleaning the coils and making sure the refrigerator is not placed in a warm area can all help to reduce the amount of energy it uses.

The refrigerator is not the only household appliance that can help reduce energy expenses. Turning the setting down on hot water heaters and insulating the pipes can make a substantial difference in the energy used. Try running the dishwasher and clothes washer with full loads only. Using cooler water settings when possible and letting some things air-dry are also little acts with big returns.

A household energy audit is not a bad idea either. Austin Energy has qualified professionals, but a quick perusal of the web shows that there are many companies out there providing this service. The couple hundred dollars spent on the audit is very likely to be made back with the suggested home energy improvements. Austin Energy even offers free improvements to low-income customers with services like attic insulation, duct repair, caulking and solar screens. These are things that an intrepid homeowner could do on his or her own, as well. Remember, little things can make a big difference.



Ki lives in Austin Texas. He started working with Austin real estate after graduating from UT. He maintains a website where potential buyers search Austin MLS listings. His site also has detailed information on Austin real estate and the neighboring city of Pflugerville.

In need of a loan to buy a house, make repairs on your home or buy a house and make repairs on a home? Are you thinking you might not qualify, though, so you've not started the process? You just might be surprised. The federal government currently has a variety of 18 federal mortgage assistance programs available to eligible homebuyers. Keep in mind, however, that most are for those who have very low- to middle-income and the home mortgaged must be your primary residence.

All available federal mortgage programs and are provided below. Detail for all programs may be accessed on the govloans.gov website by selecting Housing under the Loan Quick Search section. Other websites indicated also provide information about the loan programs.

* Section 203h Mortgage Insurance for Disaster Victims - If you live in a federally declared disaster area and you are a home owner or renter, contact a FHA-approved lender in order to apply or call the FHA for more information at (800) CALL-FHA (225-5342).

* Basic FHA Loan (Home Mortgage Insurance - HUD/FHA) - You may be eligible for this program only if you are a homeowner in need of refinancing an existing mortgage. Check with a FHA-approved lender to see if you qualify and visit the FHA website for more information.

* Combination Mortgage Insurance for Manufactured Home and Lot - The loan title says it all. For more information visit the govloans.gov website.

* Condominium Unit Purchase (Mortgage Insurance - HUD/FHA) - Need assistance in buying a condominium? Visit the govloans.gov website for more information.

* Home and Property Disaster Loans - This program falls under the federal Small Business Administration (SBA) and offers financial assistance to homeowners and renters in declared disaster areas. To apply, call (800) 659-2955, e-mail DisasterCustomerService@sba.gov or visit the SBA disaster assistance website.

* Hope For Homeowners - Is your home at risk of default or currently in foreclosure? If so, this program may be just what you need to save it. For more information, visit the Hope for Homeowners website.

* Indian Home Loan Guarantee Program - Targeted for low-income Native American homebuyers, you can find more information about the program on the govloan.gov website.

* Indian Home Loan Guarantee Program (Section 184) - Native Americans are provided home buying opportunities through this program. For more information and how to apply, check out the HUD website.

* Manufactured Home Loan Insurance (HUD/FHA) - Enables the purchase of a manufactured home. For program contact information visit the HUD website.

* Mortgage Insurance Purchase of a Cooperative Housing Unit - This applies if you want to purchase a townhouse or similar dwelling. See HUD website for more information.

* Property Improvement Loan Insurance (HUD/FHA) - Get a HUD insured loan through a private lender. For more a list of lenders and brochure #2651, call HUD at (800) 767-7468 or visit the HUD website for more information.

* Rehabilitation Mortgage Insurance (HUD/FHA) - You may be eligible to obtain a loan to purchase and rehab a new or existing home. For more information, visit the HUD website.

* Rural Housing Loans - To be eligible for this program, you must have very low- to modest-income. Begin the application process by visiting the USDA website under rural development.

* Rural Housing: Farm Labor Housing Loans and Grants - Applicable to housing for farm labor, get more information by visiting the USDA website under rural development.

* Rural Housing: Housing Repair Loans and Grants - Homeowners with very low-income may be eligible for this program. For more information see the USDA website under rural development.

* Section 203k Rehabilitation Mortgage Insurance - You may be eligible to obtain a loan for a home and repairs needed with this program. Visit the HUD website for more information.

* VA - Home Loans - Interest Rate Reduction Refinancing Loan - Guaranteed loans for veterans, reservists, service members and eligible unmarried surviving spouses. Contact a regional loan center for information for purchasing or refinancing a home. See the VA website for more information.

* VA - Home Loans - Specially Adapted Housing Direct Plan - This program provides supplemental financing for the previously stated VA loan; although, it is rarely used. Visit the VA website for more information.

Ki works as a realtor in the Austin real estate market. He created a website for buyers to search for Austin homes for sale. He also maintains a blog devoted to Austin Texas real estate market which has regularly posted statistical updates.

Marshalls are preparing to put Madoff's mansions on the market, and victims of his ponzi scheme are hoping to cash in big time. Based on court records, the FBI is revving up to sell an estimated $30 million in real estate and property, all of which will go to his victims. The three homes on the way to market are a penthouse in Manhattan, a Montauk beach house on Long Island and a waterfront Palm Beach retreat.

Vacation real estate Madoff owned in Côte d'Azur that was seized by the feds back in March has since been sold. The chic three-bedroom Cap d'Antibes home netted $1.48 million noted the Justice Department. Funds from the sale are being held at the U.S. Marshall's office.

Marshalls opened the doors to Madoff's Manhattan luxury penthouse earlier in September giving the public a glimpse into the lifestyle of the previously rich rip-off artist. The two-story apartment was the location of Madoff's confinement during his house arrest.

Four fireplaces, a baby Steinway piano, antique rugs, custom-made furniture and other fine furnishings must have made Madoff quite comfortable while carrying out his Ponzi scheme. U.S. Marshall Roland Ubaldo said that the Manhattan penthouse was the crown jewel of all Madoff's properties seized by the government. It's easy to see why with all the lavish decorations and furnishings.

A wraparound terrace provides a stunning view of southern Manhattan. His and her closets contain Madoff's handmade Belgian shoes and boxes of designer clothing that are all packed away and awaiting auction. His den does not disappoint, either, with cherry paneling and a leather bull - his personal trademark.

According to court filings, the apartment was valued at $7.5 million by the FBI. One New York appraiser has his doubts about the appraisal. Miller Samuel appraiser, Jonathan Miller, said that what he'd seen of it so far would be considered fairly modest, in his opinion. He cited that it was not actually a Park Avenue duplex, which is what the press coverage had been calling it. Its address is on 64th Street and it sits a block east on the corner of Lexington.

The Montauk beach house with 3,000 square feet of living space sits on a one-and-a-half acre prime lot atop a bluff overlooking an ocean beach. It sits closer to the water's edge than would be allowed today due to earlier more lax zoning regulations.

Feds estimate its worth at $7 million, but tax assessments indicate its value at $3.3 million. Regardless, one real estate agent noted that the history and high-profile of the home may cause it to sell for as much as $10 million. Purchased in 1980, the Madoffs originally only paid $250,000 for the home.

Listed under Madoff's wife's name, the Palm Beach hideaway is valued at $7.5 million. Featuring a pool, 8,753 square feet of living space, five-bedrooms and seven-bathrooms, the two-story home sits on a waterfront half-acre plot. Included in the property is a boat dock where Madoff parked his now-seized yacht, the Bull. It is a 55-foot fishing vessel reportedly worth $1.5 million.

Well shaded by lots of large trees and a large second-floor veranda, the house sits just down the shore from a location where Madoff lured in many of his victims, the Palm Beach Country Club.

Madoff is making amends in his not-so-luxurious jail cell and the hope is that the victims he left as carnage will be reimbursed for some of their loss and suffering.

Ki lives in Central Austin. He works in the Austin real estate market. His website lets people search the Austin MLS. His site also has information on Austin real estate as well as a search for Homes in Pflugerville

Foreclosure City has created the perfect storm in many major cities in the U.S. - the perfect storm for investors to find great real estate deals, that is.

Large inventories, low interest rates and homeowners hungry to sell all make certain cities ideal for picking an affordable home or two. Before you break a leg rushing out to buy that bargain real estate, however, you'll want to keep in mind the most important factors in a successful real estate deal.

Location, condition, price and financing are all consideration you'll want to keep in mind in order to successfully find and acquire a great real estate deal.

If you're looking to buy rental property that will be paid for monthly, then you may want to set your sights on lower-middle-class areas. Most owners who occupy their homes in these areas keep their homes well maintained.

Although you'll want to avoid obvious signs of a bad neighborhood, like boarded up homes or gang graffiti, accessible transportation and recent signs of construction can translate into good income on rental properties. It is important to note that prospective renters with children will want to live in areas with good public schools. Neighborhoods where homes are similar in size and have similar amenities are also preferred, along with areas where homes are mostly three-bedroom, two-bath or more.

Homes that are less than ten years old are more favorable, since almost all of its systems will be current, and no major renovations should be needed for some time. If considering a home more than 50 years old, make sure all systems have been updated, from wiring to plumbing. If not, you're going to be investing a lot of money on repairs.

The ideal situation would be to purchase a home that does not need repairs; however, there are an abundance of homes on the market today that need significant repairs, but can be bought at bottom basement prices. Many are owned by the lender, and are uninhabitable. Others may not need anything more than a coat of paint or new carpet.

If you decide to make an offer on a home that you think is in need of repair, make sure you make it contingent upon the inspection of the home, along with an acceptable estimate for all necessary repairs.

Price may not be that easy to determine, since the sale of so many distressed properties have negatively impacted the sale price of all homes in the area. Bank-owned properties are in need to be sold, though. Banks are interested in holding property; they are interested in making money off the property based on interest. Many have been willing to take a loss on property just to unload it.

Your target on a bank-owned property would be to offer 50 to 60 percent of the listed price, depending on the condition of the property. The more work that needs to be done, the deeper the discount you ask for. That will give you a starting place for negotiations.

Your final frontier to conquer in your investment is financing. Fannie Mae may be where you'll want to start on your quest for financing. Also, check with your local lender. Mortgage brokers often can find you the very best deals on interest rates and many can be located easily on the web. Just make sure they are reputable. Ask for all fees in writing prior to signing anything.

Ki loves to bike the Austin hill country. He has worked with Austin real estate for almost a decade. His website has a search for Austin homes along with a Austin real estate blog that allows investors to keep tabs on the Austin market.

Here are some eye-opening statistics: According to the Environmental Protection Agency, yard trimmings and food waste account for 23 percent of the U.S. waste stream. That means things that break down quite well naturally, like grass clippings and apple cores, are sitting in landfills creating tons of methane gas. Why is that so bad? "Methane is a greenhouse gas that remains in the atmosphere for approximately 9-15 years. Methane is over 20 times more effective in trapping heat in the atmosphere than carbon dioxide (EPA)."

The EPA and many private companies are working on ways to turn methane and other landfill gases into renewable energy. But perhaps the best way to combat these harmful gases is to cut down on what creates them, which is something people can do in their own backyard. Composting is an easy and inexpensive way to help the environment, while improving your own garden.

Composting speeds up the natural process of the decomposition of organic matter by providing the perfect environment for bacteria to break things down. What results is a product that looks like dark, fertile garden soil that is full of nutrients to help plants grow. According the United States Department of Agriculture's Natural Resources Conservation Service, decomposing organisms--the bacteria--need four things to survive: nitrogen, carbon, moisture and oxygen. The key to good compost is to balance materials high in nitrogen, like fresh grass clippings, with materials high in carbon, like dried leaves. Ideally, the moisture is provided by rain, but that is a little hard to count on around here. A dousing from the garden hose may be necessary from time to time. Finally, the oxygen comes from turning and mixing the compost pile on a regular basis; the more often the materials are turned, the faster they break down.

Composting can be simple or elaborate, depending on how much yard waste you have, how quickly you want things to decompose and how much time you are willing to put into it. If there is little yard waste and no big need to use the compost for fertilizer, slow composting may be the way to go. This is simply using a small corner of the yard for piling compost materials, or putting them in a bin, and then letting nature takes its course, which may take as long as a year to produce good compost for fertilizer. If you are willing to put a little more effort in, it's possible to produce usable compost every few weeks.

Step one: Create a compost area, either directly on the ground with a layer of wood chips or in a bin. There are many styles of bins available at home improvement or hardware stores, but it is also easy to construct your own out of wire mesh or even using a large container you may have on hand. Make sure the area/container has good drainage, or you'll just end up with a smelly soup.

Step two: Start the pile with the following EPA recommended materials: grass and yard clippings, leaves, house plants, fruits and vegetables, coffee grinds and filters, egg shells, nut shells, dryer and vacuum lint, clean paper, cardboard rolls, cotton and wool rags, sawdust, shredded newspaper, fireplace ashes and hair and fur.

DO NOT use: Diseased/insect infested plants, chemically treated yard trimmings, pet waste, dairy products, meat and fish bones/scraps, oils or lards, coal or charcoal ashes.

Building the pile can be as high tech as alternating nitrogen-rich material with carbon materials or as low tech as putting things in the pile when they accumulate. Keep a small trash can under the kitchen sink for coffee grinds and appropriate food leftovers. Yard waste can be added directly to the pile.

Step 3: Keep the pile moist but not saturated.

Step 4: After the pile has had some time to accumulate, turn it on a regular basis to aid in the composting process. In a few weeks time you will have a nutrient-rich compost that can be added back into garden beds and even at the base of trees. Composting is a small act that has big rewards for gardens and the environment.


Ki went to school in Austin and never left. He works as an agent in the Austin real estate market. His site has a search of Austin homes for sale. His site also has information on Austin Texas real estate along with the neighborhood of West Lake Hills.

News articles throughout the U.S. headline stories about indictments for mortgage fraud. Although you may think you could never be scammed, you should think again.

Above-average, intelligent, middle-class professionals have been duped as well as the average Joe. Almost no one is beyond the long arm of a mortgage scammer's reach. You can, however, become better educated in the antics of fraudsters in order to thwart the most common scams used.

Today, the most common mortgage scams played out in the media are perpetrated against those who are in danger of losing their homes to foreclosure and homeowners who are eager to sell their properties. Other types of mortgage fraud exist, too, though.

A good example of fraudulent practices against homeowners facing foreclosure is in the case of a recent Florida indictment. One financial company with offices statewide was indicted on several counts of defrauding trusting homeowners in default or facing foreclosure. Promising to help homeowners who were in default of their mortgages to keep their homes, the company was taking money from the homeowners without providing any assistance. Homeowners ended up losing their homes to foreclosure. More often, low-income and Hispanics were the victims.

In order to avoid mortgage fraud, you'll want to understand the motivation behind it. There are two basic classifications of mortgage fraud - fraud for property or housing and fraud for profit.

Fraud for property or housing typically occurs when a potential homebuyer desires certain property that they clearly cannot afford. The borrower submits intentionally fraudulent information regarding income, employment, assets or debt in order for the income to appear inflated qualifying the applicant for the loan. This is done with the thought that no one will dig deep enough to discover the facts. Sometimes, the borrower will enlist family members or mortgage professionals to assist in the fraud.

Lenders, however, often detect this kind of fraud through thorough review and validation of documents and by keeping diligent records. Contrary to what many might think, it is against federal law to assert intentional incorrect information on loan applications. Those who do are at risk of being charged with a felony and serving time in prison.

Fraud for profit scams often involve a group of mortgage professionals who defraud a potential homebuyer, a potential lender or a homeowner in danger of foreclosure. One example of this is a mortgage scam played out in the Midwest just recently. A builder, real estate broker, mortgage broker, and appraiser were all involved in a scam to inflate the value of homes in order to skim off the excess of the actual value. The difference of the value of the home versus the loaned amount was distributed among everyone involved in the scam.

After the discovery of the fraud, homeowners find out that they are stuck with paying for property that is valued less than what they actually loaned. Lenders, on the other hand, were forced to foreclose on some of these properties that ended up being worth far less than the amount owed on the property.

Another example may be the case of a dishonest mortgage broker who presents loan documents for a straw buyer - a buyer who does not exist, so fraudulent information is presented on the loan documents to create the illusion of a real buyer who can afford the property. The loan is dispensed and the mortgage broker walks away with the money with no intent to live in the home or pay for the property.

Sometimes straw buyers are represented by real people who participate in the fraud for financial gain. This often occurs, again, when there is no intent to live in the home and often with no intent to pay for the mortgage.

There are more mortgage fraud examples than there is space to write about them. The Federal Trade Commission (FTC) provides thorough information on mortgage scams and how to avoid them. Just go to their site at ftc.gov and search under look for the tabs under Consumer Protection. You'll find all you'd ever want to know about how mortgage fraud occurs and how to avoid it.

If you are facing financial difficulties that are making it difficult to pay your mortgage payments, you may want to enlist the assistance of an experienced financial advisor. If you do, however, make sure the company you hire is reputable. Check with your lender to see what programs they may offer or if they can refer you to a reputable financial advisor. You may also want to visit Fannie Mae or Freddie Mac sites for new federal programs available.

In addition, free advice is available through the U.S. Department of Housing and Urban Development (HUD) certified agents. Speak to a HUD certified housing counseling user by calling (888) 995-HOPE.

Ki works and lives in Austin. He has been involved with Austin real estate for a decade. His site escapesomewhere.com developed a Austin MLS search with houses and commercial properties. His site also has a Austin real estate blog with news and statistics.

Although the rich and famous are rich and famous, it doesn't mean that they are impervious to the popping of the real estate bubble. Many have succumbed to real estate woes as of late.

Ed McMahon had tabloids a talking when his real estate troubles became front page news last year. The now deceased celebrity attributed his dollar difficulties to alimony paid out to ex-wives and the economic downturn.

Aretha Franklin set the record straight about her exclusive Detroit suburban home. It went into foreclosure due to non-payment of property tax. She could have lost her $400,000 home to foreclosure due to $445 in back property taxes that accumulated into $20,000, since 2005. She said it was an oversight by her attorney. Once alerted of the situation, the Queen of Soul satisfied the debt.

Amber Frey, infamous ex-mistress of convicted murderer Scott Peterson lost her home northern California home to foreclosure. At auction, the asking price was over $200,000 less than the original purchase price. No one snatched up the deal at a low $305,000. She ended up surrendering the property to the bank.

Fantasia of American Idol fame came close to losing her home in Charlotte, North Carolina. The R&B singer settled with her Florida lender just days before the auction was scheduled to sell her pond-front home.

Extreme Makeover scandal hit the Harper family home in Atlanta, George when it went into foreclosure and would have been sold had it not been for ... even more ... generous donations. The most expansive Extreme Makeover ever seen was completed with much dedication, sweat and effort by volunteers, along with a deluge of donated dollars. Taking out a $400,000+ loan for a construction business that went belly up put the Harper's home in harm's way.

Laura Richardson, California Congresswoman, fell behind on property tax and mortgage payments in 2008. To the disdain of Sharon Helmar who sold it to her, the Long Beach home went into foreclosure and was sold. Neighbors noted that she did not keep up the lawn or take out her garbage.

Sports figures are not unfamiliar with foreclosure, either. Latrell "Spree" Sprewell, former NBA guard known for choking his then Coach P. J. Carlesimo, lost his 70-foot yacht and his Milwaukee home to foreclosure. Assessed at a mere $668,000, the home's value was nowhere near what most other sports professionals in his pay range own.

Jose Conseco experienced women woes, which caused him to lose his expansive 7,300 square foot Encino, California mansion. At least, that's his story. He said he lost $7 to $8 million on his two divorces that left him hard up for cash and was unable to pay his mortgage.

Not to anyone's surprise, Michael Vick's home was in foreclosure, since he was in prison and no longer could come up with the cash. Once NFL's highest paid player, the dog-fight diva was convicted and was to serve 23 months in prison. He was released earlier this year to serve out the rest of his sentence in home confinement.

Evander Holyfield, famous for his fight with Mike "I'll Bite Your Ear Off" Tyson, had his Fairburn, Georgia home in foreclosure. He was also behind on child support payments to a mother of one of his eleven children, and being sued for not paying $550,000 he loaned he owed to a consulting company.

Michael Jackson (King of Pop), MC Hammer (Hammertime fame), Veronica Hearst (Randolph Hearst widow), Scott Storch (previous hip-hop producer), Damon Dash (hip-hop mogul), Doug E. Fresh (rap icon), Vin Baker (former NBA star), Wyclef Jean (Fugees' frontman) and other famous actors, performers and sports professionals have all experienced foreclosure.

Ki graduated from UT with a CS degree. Now he works with Austin real estate. He has a website allowing buyers to search Austin MLS listings. He also keeps an updated blog on Austin Texas real estate.

There were some expectations that mortgage rates would fall this week. Instead rates not only did not rise but fell slightly this week. The 30 year rate fell from 5.08 to 5.07 hitting a new low for the summer. The 15 year rate fell from 4.54 to 4.50. The 5 year arm fell from 4.59 to 4.51 while the 1 year arm rose slightly from 4.62 to 4.64.

The continuing fall of the 30 year rate is good news for the national real estate market which is in the midst of a lukewarm recovery. The 5 year arm is seeing more activity now that it is significantly lower than the 30 year arm. Personally I still would heavily favor the 30 year arm with the possibility of seeing double digit interest rates in 5 years because of heavy government spending. The 1 year arm since moving above the 5 year arm has moved into no mans land with there being virtually no reason to get a 1 year arm at this point in time. Below are rates for the last few weeks.

Sep 10, 2009
30-yr 5.07 15-yr 4.50 5-yr ARM 4.51 1-yr ARM 4.64

Sep 03, 2009
30-yr 5.08 15-yr 4.54 5-yr ARM 4.59 1-yr ARM 4.62

Aug 27, 2009
30-yr 5.14 15-yr 4.58 5-yr ARM 4.67 1-yr ARM 4.69

Aug 20, 2009
30-yr 5.12 15-yr 4.56 5-yr ARM 4.57 1-yr ARM 4.69

Aug 13, 2009
30-yr 5.29 15-yr 4.68 5-yr ARM 4.75 1-yr ARM 4.72

Feb 05, 2009
30-yr 5.25 15-yr 4.92 5-yr ARM 5.26 1-yr ARM 4.92

In addition to rates we like to look at actual mortgage payments to gain some more perspective on mortgage rate changes. Based on current mortgage rates we determined the mortgage payment for a 200k loan. We did the same thing with rates from 2 weeks ago and rates from 6 months ago.

Sep 10
30-yr $1082.21
15-yr $1529.98
5-yr ARM $1014.55
1-yr ARM $1030.07

Aug 27
30-yr $1090.82
15-yr $1538.17
5-yr ARM $1033.67
1-yr ARM $1036.07

Jan 29
30-yr $1085.89
15-yr $1560.82
5-yr ARM $1106.88
1-yr ARM $1061.45

Compared to 6 months ago the mortgage payment on a 200k loan is pretty much identical. The payment is $3.68 less a month or a third of one percent.

The real question of course is where mortgage rates are going. There are a few schools of thought. The first is that mortgage rates are going to skyrocket along with inflation caused by the massive government spending over the last few years. There is another school of that that mortgage rates should rise but only slightly and that massive inflation will be curbed by the Federal Reserve.

Either way no one is advocating that mortgage rates are going to fall much further. Therefore my advice would be to look at 30 year rates and to avoid 5 and 1 year arms like the plague. If the first school of thought is correct and mortgage rates rise they will probably not move dramatically until the economy recovers.

Ki lives in Austin Texas. He site has a graph showing historical mortgage rates. His site also has news and resources on real estate in Austin as well as a search of the Austin MLS.

The South First Street area has become a vibrant community lately, especially for pedestrians and bicyclists, since it is so densely packed with new establishments and businesses. The area is very unique and quirky; many of the businesses cater to the music industry and other artistic types.

There are a number of interesting clubs and restaurants as well, most of which offer live music on a regular basis. Two such venues are Jovita's and Freddie's Place, both delightful locations with shady trees with well known as well as new musical acts which usually perform early in the evening, to the satisfaction of families with children and the slightly older crowd that prefers to be back home at a reasonable hour.

Jovita's has had a number of very well known local acts play the spot recently, including the Marshall Ford Swing Band and the Cornell Hurd Band. The crowd is usually dancing to the catchy tunes, and it's worth the visit just to watch the boot-scooting and vintage clothing worn by many of the dancers, most of which are early to middle aged.

Freddie's has an outdoor stage under the trees, and patrons can have a full meal, while accompanied by their dogs (which are allowed on the patio area), or just sit up front with a frosty drink and listen to the musical acts, many of which are newcomers but very enjoyable and professional. Both of these fine eateries are on the east side of 1st just north of Live Oak and Mary Street. Bouldin Creek meanders through the neighborhood too, presenting a lovely and peaceful sight.

Traveling south, one gets to La Reyna and La Mexicana, a well-known tex-mex joint and Mexican food bakery, respectively, and both have great food and other products as well, including jewelry at La Mexicana as well as convenience store fare. Across the street, very interesting vintage clothing can be found at Flashback, which is currently having a clearance sale and all of the items are very reasonably priced. Amelia's and New Bohemia are also vintage and retro shops, a few blocks south on the east side of 1st. Adjacent to Amelia's, End of an Ear can be found, with various types of music on CD, record, tape, etc., and occasionally live music as well.

Just north of End of an Ear and its small strip center, Sugar Mama's offers cupcakes and other bakery items and sweets for the hungry strollers, and their confections are out of this world.Another vintage clothing and curios shop called Secret Oktober is a few doors down from Sugar Mama's too. There are also numerous coffee shops, including Bouldin, Once Over, and Somnio's, and all three have a laid back atmosphere and outdoor tables under the trees.

Farther north on 1st, but within walking distance, is an Austin legend, El Mercado, which offers a varied Mexican Food menu and has been in different locations over the years, with this site being in operation for almost ten years itself. Another great Mexican food spot, Polvo's, is a few blocks down, just south of the intersection of 1st and Mary on the west side of street, and their food is outstanding as are their drinks, especially the margaritas.

One of the most interesting locations is the South First Trailer Park Eatery, which is a large lot on which various food vendors operate out of airstream trailers and stands, with the emphasis on hand held food such as wraps, burritos, and deserts, also popcorn. This site also offers free movies on a regular basis, most of which are family oriented, and can be watched under the stars with one's own refreshments, which are allowed due to the BYOB policy. This week, the Back to the Future series has been shown, to the sure approval of the neighborhood kids and kids at heart.

There are many old yet restored homes in the area, and they are reasonably priced, many being fixer-uppers. Those near the creek are especially appealing, and many are already in perfect shape, ready to move in. But the real estate prices in the area reflect the appeal of the area and far outpace the average prices in the Austin real estate market. For new residents who prefer not to cook, the Soup Peddler offers delivery of different homemade, gourmet soups on a daily basis, and deliver on bicycle to neighborhood patrons, and has received rave reviews from diners.



Ki works in Central Austin. He maintains a website focused on Austin real estate. The site allows future owners to search for Austin homes for sale. He also writes entries on his blog covering Austin tx real estate.

The recent headlines have trumpeted a rebound in the American housing market. According to the Associated Press, July's 7.2 percent increase in home sales was the biggest month-to-month jump in the last ten years. But before breathing a sigh of relief and checking Zillow for increased home values, it might be a good idea to look at the story behind the new and improved numbers.

A big chunk of the recent increase is first-time home buyers taking advantage of the tax credit. One third of recent home sales are due to the $8000 incentive for first-time home buyers, which will end in November. Another third of the recent sales across the nation are actually foreclosures. According to a recent report on NBC news, home prices overall are down 23 percent in the last year, largely due to the number of foreclosures across the country.

NBC news broke down the numbers even further, showing that the biggest surge in home sales are for homes under $100,000. While sales of homes in this price range rose an impressive 39 percent in the last month, sales for homes over $250,000 are actually down. In fact, the higher the price tag the fewer homes are selling.

Better numbers in several sectors of the economy, including housing, have led Federal Reserve Chairman Ben Bernanke to announce that the U.S. economy is on the verge of recovery. He said at a Federal Reserve conference in Wyoming that "the prospects for a return to growth in the near term appear good." Not a resounding endorsement of the world economy, but certainly keeping to the more positive tone he has taken lately.

According the Associated Press, Bernanke continues to stress the importance of freeing up consumer credit, stating this is the key to any kind of long term economic recovery. However, banks continue to be careful with lending to consumers. Mortgage defaults remain at an all time high--which brings us back to the housing numbers. While foreclosures continue to less of a factor in Austin as they are in other parts of the country, they are taking a toll on the economy as a whole.

As the latest housing numbers have indicated, foreclosures are great for bargain hunters but bad for the housing sector and the overall economy. It only takes one foreclosure in a neighborhood to skew the assessment of overall home values in that area. Mortgage defaults that lead to foreclosures cost banks a significant amount of money. The banks in turn raise rates on credit cards and fees to recoup some of these losses, along with making fewer loans overall.

The real estate industry is lobbying Congress to get an extension on the first-time buyers' tax credit, because many industry analysts are predicting a plunge in the housing numbers after November. "I would not be at all surprised to see a dip at the end of the year once the tax credit expires," Robert Dye, senior economist with PNC Financial Services Group, told the AP.

Austin continues to weather this long recession better than the rest of the country, but let's hope the story behind the national numbers gets better.


Ki moved to Austin for school. After graduation, he started working in the Austin real estate market. He has a website where future owners can search the Austin MLS. His website also has a blog with updates in Austin Texas real estate.

During the Texas Revolution, around the year 1812, Santiago Del Valle made his way to central Texas and settled with his family on a large piece of land granted to him by the Mexican government in the area now known as Del Valle. Del Valle is 7 miles southeast of Austin and the community is currently unincorporated.

The community is near the Austin Bergstrom International Airport, and is situated near the intersection of U.S. Highway 183 and Highway 71, on which Del Valle is actually located. Del Valle is also very near the communities of Lockhart to the south and Bastrop to the east, and the terrain is gently rolling farmland with plenty of shade trees as well as rivers and creeks.

Del Valle has its own school district, the Del Valle Independent School District, a small post office, and a few other businesses, including restaurants and hotels and motels, which are numerous due to the town's proximity to the new airport as well as nearby state parks and other tourist attractions.

Del Valle also boasts many sports related activities and events, and there is a local golf course as well as a baseball complex, among other facilities. With its rural atmosphere, many local residents enjoy the outdoors, for sporting events or even eating outside and picnicking in the many local parks and greenbelts.

Del Valle is considered a growing community, and there are many inexpensive homes available, most with plenty of acreage to raise a family, livestock or pets, or even grow your own fruits and vegetables, since the town is on the southeastern side of Travis County which has good soil and lots of water.

Currently, there are many available homes in the $100,000 range in the community, and most have all the modern amenities, as well as access to U.S. 183 and 71, which makes travel to Austin, San Antonio, and even south Texas very convenient and speedy. There are also many mobile homes parks and empty lots with green grass as far as you can see on which one can build a home and eventually settle into the sunset years.

Some of the local eateries around Del Valle include a Thai restaurant called Little Thailand, a barbecue spot called Elroy Sausage Company, and an old-timey saloon called Water Hole Saloon. All offer above average food and refreshing beverages, according to visitors to the Del Valle area.

A local church that hosts many events is the Methodist Church, called Haynie Chapel United Methodist Church, and the church promotes the spiritual life as well as actively promoting social events and get-togethers for residents and their guests, with regular prayer meetings, worship services, and study groups.

Del Valle is the location of the Travis County Correctional Complex, which is a large, local employer of correctional officers, social workers, medical staff, and many other professionals, as well as the home of a youth program, a military-style boot camp, and many other facilities intended to teach and encourage healthy living and life skills for the young, old, and in between.

Del Valle is a promising location for those who want to see the stars at night without the distraction of city lights, and hear the birds chirp and the roosters crow. The lifestyle is laid-back and the cost of living is inexpensive, so consider the Del Valle area when visiting the southeastern part of Travis County, and you'll be glad you did!


Ki lives in the Austin area. He created a website for future homeowners owners to search for Austin homes. He has worked in the Austin Texas real estate market for almost 10 years. His site also has a blog with updated statistics on Austin real estate.