February 2010

Snow is a rare event for Central Texas, but the Austin area recently had some of the best snow we have seen in years.  This last Tuesday the snow started to fall in the morning and by the end of the day some areas had up to two inches of snow on the ground.  The northwest side of Austin saw the most accumulation.  Here are some pictures:

 

 

 

 

 

 

 

 

 

 

As the country works toward digging its way out of the recession, all eyes have been focused on the housing market. After all, the fall out of the housing market was the biggest contributor to our current economic situation and, therefore, stabilizing the market is the key to enjoying a full economic recovery. Unfortunately, many markets are still continuing to struggle throughout the country, but others are starting to show signs of stabilization. In fact, according to the Austin Board of Realtors and the Home Builders Association of Greater Austin, Austin's home market has neared stabilization and may even enjoy a slight rebound this year.

There are many reasons to think that Austin's home marker it near stabilization, but one of the biggest indicators…

According to McGraw-Hill Construction, construction activity is expected to pick up some momentum in 2010, with the city of Austin enjoying the greatest growth. In fact, the 2010 Texas Construction Outlook predicts that construction starts will increase in value by 16 percent this year, with a total statewide value of $52.5 billion. Austin will nearly double the statewide prediction, with the report forecasts indicating that the city's construction starts will increase in value by 30%.

Austin isn't the only city that will surpass the statewide predictions, but some other major Texas cities are predicted to fall short of the state average. Some of the other predictions include:

•    Houston - predicted to grow by 17%
•    Dallas - predicted to grow by 16%
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According to the Texas Workforce Commission, unemployment levels within the Austin and Round Rock area fell by 6.9% in November. While this is still up from the 4.9% rate that the area was experiencing just one year ago, it does represent a decline in unemployment when compared to the previous month.

Previous data indicated that the unemployment rate in the Austin and Round Rock area was 7.2% in October. Compared to the state average of 7.9%, the Austin and Round Rock area is doing quite well with its 6.9% rate. This pattern remains true to the rates from the previous month, with the statewide unemployment rates being at 8.1% in October compared to the 7.2% rate of the Austin and Round Rock area. Similarly, the state had a 5.4% unemployment rate one month

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As you prepare your home for sell, you need to be certain to check each room carefully in order to make sure it looks its absolute best.  By following these simple tips, you can make sure each room looks its best for your potential buyer.

Bedrooms

When preparing your home for a showing, you want to make sure each bedroom looks its absolute best.  If you have a room that could be a bedroom but is being used for a more personal use, such as a music studio or a sewing room, it is generally better to change it back to a bedroom if at all possible.  This way, the potential buyer can more easily “see” himself or herself living in the home.

Some other steps you should take in order to make sure the bedrooms look great include:

•    Repair any cracks that the room may…

When you purchase a home, your Realtor will likely use a number of terms that you are not entirely familiar with.  While your Realtor should be happy to explain these terms to you, it helps if you have a good idea of what they mean before you start the home buying process.  Here are just a few terms you should know!

•    Certificate of title – A document demonstrating legal proof of ownership
•    Chattels – Personal property, of which there are two types.  The first type are real chattels, which are fixtures and buildings.  The other type are personal chattels, which are furniture, clothes, and other similar items.
•    Contract of sale – A written agreement that establishes the terms and conditions associated with the sell of property.
•    Covenant – The…

According to the most recent Beige Book survey to be released by the Federal Reserve Bank of Dallas, economic conditions in the state of Texas are showing signs of improvement. In fact, the report found that economic conditions through November had "firmed" and that a number of industries are showing signs of improvement.

The Beige Book survey, which is conducted on a periodic basis and evaluates the economic conditions of the Federal 11th district that includes Central Texas, found that the paper, high-tech manufacturing, housing, staffing, energy and petrochemicals industries are all showing signs of improvement. Furthermore, the Dallas Fed's Index of Leading Indicators is also showing that an economic recovery is starting to develop in Texas.

"The only

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