Hope you are enjoying those hot August nights! Here is a calendar of events going on around town. Click here for an easier to read and print version!

I found this Forbes article supportive of what I have been saying to you.  I am only including part of it, so here is a link if you wish to read it in its' entirity.

It discusses which cities will and won’t recover fastest and agrees that Texas avoided the housing bubble and that the fact that Clifornia did not, will keep that state lanquishing.

WASHINGTON - The three most important things in real estate: location, location, location. It's true for recovery from a real estate bubble too. Overall, many economists expect the national economy to return to growth later in 2009, perhaps as soon as this summer. But that won't be the case everywhere. While some cities are poised for a quick rebound, others face a slog to recovery that could take years.

Poised for swift recovery are many Texas cities, such as Austin, San Antonio, Dallas and McAllen. These areas did not see the massive real estate bubble that formed in states like California, Nevada and Florida. The economy is diverse, with heavy growth coming from education and health care in recent years.

To find the 10 cities that look best poised for recovery (and the 10 cities likely looking at the longest climb back), we examined estimates from data provider Moody's Economy.com of the projected gross domestic product of metropolitan areas across the U.S., as well as unemployment figures from the Bureau of Labor Statistics and home prices, incomes and affordability data from the National Association of Home Builders. Because, in general, healthy cities were not victims of as severe a housing collapse, home prices were not used in ranking the cities poised for recovery.

Investors, it is time to buy in Austin!  My company has been discussing that in the last 30 days in the central areas (1B, 1A, 8E, 8W, 4,6,7)  that there is currently 6.5 months of single family homes  inventory.  In normal language that translates to a fairly balanced market of buyers and sellers and in area 1n, there is currently only 3.2 months of inventory (That does not include all areas of Austin). Finally, the Statesman reported local good news and not just national gloom.

Let’s face it: when you’ve got champagne taste on a beer budget, you often have to sacrifice style for survival. Thanks to the fabulous happy hour specials at some of Austin’s best wining and dining spots, you can now have your cake (and afford to tip well, too).

SPOT Roaring Fork
SAVE Hit this downtown spot or the new Stonelake location for happy hour highlights like $4 off all soups, salads & apps, $2 off all drinks, and frozen ’ritas for only $4 each, from 4 – 7 p.m. daily. Cool off with one of their refreshing summer specialty cocktails like the Blakberi Madras with Chambord and fresh OJ.

SPOT WINK
SAVE Go fancy on a dime, and enjoy half-priced appetizers from 5 – 7 p.m. in the wine bar everyday. Who ever thought of mac ‘n’ cheese with truffle oil is a true genius. Get cozy at one of the bar-side tables and ask for a wine recommendation from the experts behind the bar.

SPOT Kenichi
SAVE Get the raw end of the deal (in a good way) with $5 makimono and handrolls served from 4:30 – 10 p.m. on Sunday – Tuesday, and from 4:30 – 7 p.m. Wednesday – Friday.

SPOT Eddie V’s
SAVE With a happy hour from 4:30 – 7 p.m. every night, and all night long on Sunday and Monday evenings, who can deny themselves? Enjoy half-priced appetizers, 35 cent oysters, and $1 off all drinks while listening to sultry jazz music.

SPOT Four Seasons
SAVE For a post-work pick me up, swing by the TRIO wine bar from 5 – 8 p.m., Monday – Saturday, and enjoy half-off appetizers and wines by the glass, as well as complimentary valet parking.

SPOT Jeffery's
SAVE Every night from 5 – 7 p.m., Jeffrey’s treats you to half-off all bar menu items. Duck confit, anyone? Call ahead for reservations—this favorite spot can get crowded.

Click Here to see a great visual of what is going on in the Austin area in a mapped out version. It has the June 2008 vs. June 2009 median price change and number sold percent changes mapped out. I hope you find this helpful!

• Downtown has:
  • 8,000 residents
  • 5,370 hotel rooms
• Downtown's taxable value represents move than 5% of the City's tax base.
• An area eight times larger than downtown is needed to generate the same average taxable value.
You can find more downtown facts on the Downtown Austin Alliance website at www.downtownaustin.com .

Hope that you had a wonderful Fourth! Below is a calendar of events happening around Austin this month! Hopefully you can manage to stay cool and enjoy something on the list!

Please email me if you would like an activity summary or a year to date update of a specific area/neighborhood in Austin.