CNN Says Austin is a “national leader in economic Recovery”

Austin, Texas is booming. People there say the way they do business could be a blueprint for your hometown.

In today's "Building Up America" report, our Tom Foreman takes a look at a city where many people are saying, "what recession?"

To read the complete article, click here:

http://amfix.blogs.cnn.com/2010/02/22/building-up-america-austin-thriving-in-tough-times/

The Housing Tax Credit Simplified!

The Federal Income Tax Credit for homebuyers made easy!

Who is eligible?
Homebuyers purchasing a home (new or resale). To claim the tax credit, home must be contracted by April 30,2010 and close between january 1, 2010 and June 30, 2010.

What is the maximum tax credit?
$8000 for the first time buyer or $6500 for a repeat homebuyer

Whats the calculation for the tax credit?
Multiply the purchase price of the home by 10% (.1) to calculate the tax credit you will receive.

Whats the definition of a first-time homebuyer?
A first time homebuyer cannot have owned or claimed a primary residence in the last three years. Vacation homes do not count. If married, both parties must not have owned or claimed a primary residence in the last three years.

Whats the definition of a repeat homebuyer?
Repeat gomebuyers have owned and lived in their previous or current home for five consecutive years out of the last eight years. Purchasing home needs to be under $800000. In order to qualify for the full tax credit, income is limited to up to $125,000 for single taxpayers and $225,000 for married couples.

Does the tax credit have to be repaid?
Not as long as the buyer stays in the home for a period of three years. If the buyer moves from the home prior to that, there will be a recapture of the credit. Individuals should consult with a tax preparer to discuss how much would need to be repaid and the reason for the move. In some circumstances, some or all of the tax credi will not have to be repaid.

Some great Austin Links:

Relocation Guide: www.austinrelocatingguide.com
Austin City Guide: www.austin.citysearch.com
Austin Entertainment: www.austin360.com
Austin Convention and Visitors Bureau: www.austintexas.org
Austin School Ratings: www.tea.state.tx.us/prefreport/account

Financial Websites

Many of my clients have asked about good financial websites. Here are two websites that I think you may find useful:

1. www.bankrate.com: has a variety of useful resources including information on more lucrative savings account rates, mortgage rates, and credit card information.

2. www.dinkytown.com: provides access to a over 350 financial calculators for things like mortgage, auto, tax, budgeting, credit cards, retirement, and investment and savings.

Dog-Friendly City Guide:

http://romanreign.com/

Local listing of dog friendly restaurants, shopping centers, hotels, dog activities, and more!

www.dogfriendly.com

This website publishes U.S. and Canadian pet travel guides for dogs. Click on “select a state” and click on the city of your preference.

www.austinspca.com

The Austin Humane Society Pet Adoption Center is dedicated to saving Austin’s homeless dogs and cats and educating our community about responsible pet ownership and reducing pet overpopulation.

Neighborhood Profile: The Polo Club at Rooster Springs

The Polo Club is a private residential community located in the heart of the Texas Hill Country. Nestled among century-old Oak trees and a clustering of spring-fed ponds, it is home to fewer than 100 families who enjoy the outdoors and an equestrian-oriented lifestyle. Horses, tennis, biking, swimming, fishing and hiking unspoiled canyon trails are pastimes enjoyed by Polo Club residents.
Click below to view one of my great listings in the Polo Club:

http://www.tourfactory.com/557067

2009-2010 School Report

Check out the latest school report with ratings on all of the Public Schools in the Austin area:

http://www.alamotitle-austin.com/library/23/Public_and_Private_Schools.pdf

Texas Ranks 29th for Foreclosures

To see the States with the Highest Foreclosure Rates, click here:
http://www.cnbc.com/id/29655038?slide=1

Monthly Inventory in Austin is down 17% over January 2009.

5 Free (or almost free) Things to do in Austin

1) Texas State Capitol Complex: Every Texan should try to visit the State Capitol at least once in their lifetime, which puts it at the top of our mostly free things to do list. And if you haven't visited since the restoration of the 1980s, visit again. Taller than the US Capitol, the Texas State Capitol and Capitol Grounds are one of the most popular tourist attractions in the city and a favorite spot for the locals as well. Inside and out, it's simply impressive, beautiful, and one of our state treasures. Free.

2) Barton Springs Pool: Over the years, people have come to this 1,000-foot long natural limestone pool, fed by several underground springs, for everything from fishing and swimming to baptisms and beauty pageants. $1 for Children/ $3 for Adults.

3) 6th Street: Perhaps the city's best-known street outside of Texas, a few blocks south of the Capitol you'll find the E. 6th Street and Red River Entertainment District. Even if the Restaurants, bars, and live music don't appeal to you, a stroll down 6th Street can be visually stimulating experience. From the beautiful architecture and historic facades to the eccentric appearance of some 6th Street regulars, a visit to 6th Street is sure to intrigue.

4) Congress Avenue Bats: Depending on the time of year, a visit to the Congress Avenue Bridge provides an awesome sight. Each evening, especially in the late summer and early fall, up to 1.5 million Mexican free-tailed bats emerge like a black cloud from the crevices of the bridge that they call home for around 8 months of the year. Free.

5) Town Lake: In the shadow of downtown is one of Austin's treasures - Town Lake. This spot along the Colorado River is a popular site for walking, biking, picnics, concerts, Bat-watching, and pedal boats, canoes, riverboat rides, and much more. When you need to unwind from a day of sightseeing or business meetings, take a break on Town Lake. Mostly free although some activities have fees (boats, some concerts on the lake, for example).

Austin inventory numbers fall for the 6th month in a row!

The inventory of homes in Austin has fallen for the 6^th consecutive month down to 5.4 months. This is the lowest number since 2008. At 4 months we are considered to be in “Seller’s Market” so the Austin real estate market is a lot stronger than some may think. With all of the negative national news, it is often hard to get a grasp on what is really happening locally. To give you an idea of how Austin compares, here are some other major cities inventory numbers:

San Antonio, TX: 7.2 months

Charleston, SC: 16 months

Naples, Florida: 18 months

Austin reported least job losses in '09

Austin Business Journal Tuesday, February 2, 2010, 12:44pm CST
The Austin-Round Rock region lost the least number of jobs in Texas last year, shedding a net 2,300 positions, or 0.3 percent, according to the U.S. Bureau of Labor Statistics year-end report released today. Click here for the rest of the story: http://austin.bizjournals.com/austin/stories/2010/02/01/daily21.html

Welcome to my blog everyone!

I have started this blog to post information about real estate and Austin. As a real estate agent, I am always getting asked about what is going on in the market or just general questions about Austin (good restaurants, schools, local activities, etc). I am hoping this will be a way I can answer these questions and share information with all of my clients as well as anyone living or planning on moving to Austin. I hope you enjoy it. Please feel free to post any comments about what you would like me to blog about.

Thanks for reading!