2010 SCHOOL RATINGS are in. Lots of A+ grades for Austin Area Schools

At 1:00 pm on the 31st of July I was glued to the Texas education agency website as they released the latest campus accountability ratings for Texas public schools. Professionally, in that as a Realtor my clients seem to appreciate it when I can speak intelligently on the quality of the public schools in any given neighborhood.

As a Cedar Park resident and with many of my clients in the Leander ISD and Round Rock ISD I was go pleased to see that most of the area elementary schools were rated exemplary and now several of the local middle schools had increased in rating. Just one more reason why AUSTIN TEXAS is the place to buy real estate...

To see the 2010 accountability ratings click the following link: http://www.tea.state.tx.us/ or call me and I will gladly get you a brochure with all the school ratings. Until next time, STAY COOL!

Wow, this article says it all & Austin is THE place to buy a home.

Five Smart Reasons to Buy a Home Now
RISMEDIA, July 30, 2010--The economy is stabilizing. Home prices are holding. It's not just as good a time as ever to buy a house. It's one of the best times ever.

ForSaleByOwner.com presents five overlooked reasons why now is a great time to buy a house.

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system – and this is just the opportunity that owners of many desirable properties have been waiting for.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines...again. Now that appraisers have more flexibility to set values that reflect the current market, today's deals will make it over the finish line.

5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by "workforce housing" programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.

BOLD Revolution, First Step to BOLD

4.375% Interest Rates... Are We Dreaming?!

Interest rates this low sounds like the stuff homebuyers' dreams are made of; but this is reality! It is such an opportune time to be on the market for a great home and Austin, Cedar Park and Round Rock are no exception.

Don't let the fact that the first time homebuyers' credit has expired hinder you from exploring the fantastic listings that are available. In the long run, having low interest rates on your mortgage puts you at an even greater advantage than the federal tax credit.

According to the Wall Street Journal, "The 30-year fixed-rate mortgage averaged 4.57% for the week ended Thursday, down slightly from the prior week's 4.58% average and 5.2% a year ago. It is at the lowest point in (Freddie Mac's weekley) 39-year survey."

These record low mortgage rates should be inspiring you if you're in the position to buy a home.

Austin is recession-resistant

Austin ranked the third most Recession-Resistant city by the
Brookings Institute

In April of 2008, Austin was ranked the third most recession proof
city by Forbes because of a lack of a housing bubble, low median home
price, low unemployment, and strong job growth segments that would
recover more quickly. Plus, Austin was known as ?Silicon Hills? for
its growing tech sector industries.

Now, over two years later, the Brookings Institute has released their
quarterly in-depth analysis which also ranks Austin the third most
recession proof city in the U.S.

The Brookings Institute analyzes the health of America?s 100 largest
metropolitan economies. It examines trends in metropolitan-level
employment, output, and housing conditions to look ?beneath the hood?
of national economic statistics to portray the diverse metropolitan
trajectories of recession and recovery across the country.
MetroMonitor looks at the particular industries that drive national
economic trends, and takes into account metro areas? unique starting
points for eventual recovery.

Click here for the full report.
http://www.brookings.edu/metro/MetroMonitor.aspx

You can also view many interactive reports for employment, REO
properties and other economic measurements.


The top 10 stable cities identified by MetroMonitor are:

1. Albany, N.Y.
2. Augusta, Ga.
3. Austin, Texas
4. Baton Rouge, La.
5. Buffalo, N.Y.
6. Columbia, S.C.
7. Dallas, Texas
8. Des Moines, Iowa
9. El Paso, Texas
10. Honolulu

-0- down program

Bond 77; Alternative Down Payment Funding

Just when it seemed that making use of the First Time Home Buyer Credit was completely gone, Texas introduces the new Texas Department of Housing & Community Affairs (TDHCA) Bond 77 Program. The Bond 77 program is a new Zero Down Home Loan that will assist home buyers with their down payment towards the purchase of a home. It is said that the state of Texas has backed this program with $500 million dollars in funding and should be releasing the program in late May. With this kind of allotment of funds available for the program and an alternative option for down payment, it’s sure to become a popularly sought out program by both first time buyers and existing home owners looking to purchase a home.


There are some Bond 77 details that might be of interest to anyone looking to make use of this program. It should be noted that the interest rate on the loan will be locked for thirty years. All fees will be strictly restricted (this is a good thing for all borrowers). For those looking to gain assistance with a down payment, Bond 77 will provide borrowers with 5% towards the down payment and closing costs. As long as the borrower remains in the purchased home as a primary residence, the borrowers may enjoy not having to worry any form of payments towards the amount assisted with. Availability of this program depends on the number of individuals in the household and on area of the first time home buyers or existing home owners looking to purchase.

The Bond 77 program will not run indefinitely. Funds will be appropriated effectively on a first come first serve basis. As soon as the funds are depleted, the program will cease to exist and terminate.

If you’d like more information regarding Bond 77 or have any questions in regards to Bond 77 or hill country property, Email me at kathystafford17@yahoo.com You may also get more information from the Texas Department of Housing and Community Affairs here.

Domain is GROWING!!!!!!

Phase II of the Domain: Open for BusinessThe Domain mixed-used project by the Simon Property Group has become one of the most divisive and high-profile development projects in Austin, TX.
The battle over the massive tax subsidies promised to the Domain that were a big part of the decision to move forward with the project in North Austin got quite heated and lead to an intense political battle in 2008.
It's changed the face of mixed-used in our city, has dramatically altered the real estate and retail environment in North Austin, and has brought high-end retail previously unavailable in the South to Austinities spending like crazy despite the recession.
Along with projects such as the Triangle in central Austin, it's changed the local real estate game for good. And just recently, after years in the making, Phase II of the 600,000 square foot Domain project opened its doors on April 23rd.
Read on to learn more about the recent grand opening at the Domain including which retailers are going to be present, and what's to come in the future for the project in 2012 and 2013.

Retail GaloreThe Phase II project and its stores actually had a soft opening back in February, so many shoppers have already grown accustomed to the presence of the new businesses. But not they are all officially open for business.
The HUGE mixed-used property has 136,000 square feet of retail. The biggest players in Phase II are Dick's Sporting Goods, Dillard's, and a large movie theater called Gold Class Cinema.
There's also 438 residential units and about 78,000 square feet of office space. Other national retailers that are now open in Phase II include:
American Eagle Outfitters
Aeropostale
Bath & Body Works
Buckle
Bui-yah-kah
Charming Charlie
Coffee Bean & Tea Leaf, Express
Finish Line
The Limited
Maggiano’s
Payless Shoes
Shasa Collections
Stride Rite
Sushi Zushi
VANS
Yogurt Planet
Zumiez.

Capital Metro to open Red Line March 22

Capital Metro to open Red Line March 22

Farmers market to open in Cedar Park

Farmers market to open in Cedar Park

Uptown, Downtown, All Around the Town!!!

Links to City of Austin, Round Rock, Cedar Park, etc.
If you want to get to know the Greater Austin area a little better, or if you want to learn a little more about a particular metro area in in the Greater Austin area--this may help. If not, give me a call and let's talk.
City of Austin
City of Bee Caves
City of Buda
City of Cedar Park
Dripping Springs
City of Georgetown
City of Hutto
City of Jonestown
City of Lakeway
City of Liberty Hill
City of Lago Vista
City of Leander
City of Manor
City of Pflugerville
City of Rollingwood
City of Round Rock
Spicewood, Texas
City of Taylor

FACEBOOK is coming to Austin

Facebook opening 200-person Austin officeAustin Business Journal - by Jacob Dirr Staff WriterFacebook is creating 200 jobs in Austin, thanks to a $1.4 million incentive from the state of Texas.The move will be the first major U.S. expansion outside of Palo Alto, Calif., where the company is headquartered, according to officials. It is investing about $3.1 million to set up operations in Texas, according to Gov. Rick Perry's office.Facebook employs about 800 people. It reported about $50 million in revenue last year.'Facebook continues to grow and Austin, with its deep talent pool, would allow us to hire the high-caliber employees we need to properly serve the people, advertisers and developers that rely on our service,' Facebook Chief Operating Officer Sheryl Sandberg said.Gov. Perry said the new jobs will enhance the Central Texas’ robust technology industry and strengthen the economy.All contents of this site © American City Business Journals Inc. All rights reserved.Link to Article: http://austin.bizjournals.com/austin/stories/2010/02/22/daily44.html

10 REASONS TO BUY A HOME IN AUSTIN

TEN GREAT REASONS TO BUY A HOME


1. Quality of life – a home provides stability and security for you and

your loved ones.

2. Pride of home ownership – it’s your personal haven and you’re

your own landlord.

3. Historically low interest rates – around 5.5 percent in the U.S.

4. Tax Credit – U.S. government provides a special $8,000 incentive

for qualifying first-time buyers.

5. Appreciation potential – your home investment can grow in value.

6. Equity buildup and debt pay down – homeowners enjoy an

average net worth of approximately $184,000 vs. $4,000 for renters.

7. Leverage – where else can you buy an investment of this magnitude

with 5-10 percent down?

8. Tax deduction advantages – property tax and mortgage interest

write-offs (in Canada, home owners gain a tax benefit upon selling).

9. Tax exemption – up to $500,000 per couple or $250,000 per person

on sale of a primary residence in the United States (no tax upon sale

in Canada).

10. The real cost of renting – at $800 per month, with the average

6 percent rental increase per year, you will pay $126,536 over a 10-

year period but have zero ownership of the property.