For those of you who haven't seen it yet: AUSTIN is #1 on the latest Top 10 list. Kiplinger.com just released the results of their latest search for the top cities in the US. The article gives Austin the prime spot for the top city to be in for the next decade.
1. Austin, Tex. Austin is arguably the the country's best crucible for small business, offering a dozen community programs that form a neural network of business brainpower to help entrepreneurs. Now overlay that net with a dozen venture-capital funds and 20 or so business associations, plus incubators, educational opportunities and networking events. Mix all these elements in what many call a classless society, where hippie communalism coexists with no-nonsense capitalism, and you've got a breeding ground for start-ups.
Don't discount the fun factor: In the self-proclaimed live-music capital of the world, music and business creativity riff off one another. The city's famous South by Southwest festival, where concerts, independent film screenings and emerging technology overlap, is a prime example.
To see the full article please click on the link: http://realestate.yahoo.com/promo/10-best-cities-for-the-next-decade *********************** Tomorrow, May 31st, is the last day (for most) to file a protest with the Appraisal Review Board concerning their property taxes for the current year. For more information on the ARB and protesting your taxes, please go to the following link:
http://www.traviscad.org/arb.html To download a protest form: http://www.traviscad.org/pdf/2010Forms/ARB/50-132_NoticeOfProtest.pdf *********************** 2nd Street renamed for Willie Nelson By Sarah Coppola Thursday, May 27, 2010, 10:55 AM , Statesman.com Part of Second Street will now bear the honorary name Willie Nelson Boulevard. The City Council approved the change this morning as a tribute to the singer, who has lived in the Austin area nearly 40 years and sold more than 50 million records. The city will install Willie Nelson Boulevard signs this summer at every block along Second Street from Trinity Street to San Antonio Street. The formal name, mailing addresses and street signs for Second Street will stay the same, but residents and businesses along the street will be able to receive mail using the Willie Nelson Boulevard address, said Mayor Lee Leffingwell, who proposed the idea.

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Worry and confidence

"If you're able to worry, you're also able to be confident. Because from a functional standpoint, worry and confidence are pretty much the same thing.Worry is the expectation that something negative will happen. Confidence is the expectation that something positive will happen.How do you create confidence about something that hasn't happened yet? You use the exact same process you would use to create worry.The big difference between worry and confidence is the expected outcome. And the powerful fact is, you can expect whatever outcome you choose.There's another way that worry and confidence are quite similar. They both tend to be self-fulfilling prophesies.So instead of destroying your effectiveness with worry, you can vastly enhance your effectiveness with confidence. It takes nothing more than a simple yet powerful change in your expectations."

BASICS: Our economy is a consumer driven system so when consumers slow their discretionary spending the economic engine slows as well. In early 2008 Texas sales tax (that 8.25% tax we pay for clothes & uncooked food, etc.) receipts turned negative in a year over year comparison. This trend continued for 22 consecutive months ending in January 2010.

RECENT HEADLINE: The State of Texas recently forecasted an 18 billion dollar deficit (keep in mind our legislature meets once every two years). This deficit is related to the 22 months of sales tax decline.

BLOG FOCUS: In February & March of 2010, Texas posted 2 consecutive months of sale tax revenue increase! Austin alone had 5 months of sales tax revenue increase! Keeping up with the sale tax revenue is a great gauge on 'consumer confidence'. University of Michigan does a monthly posting on National Consumer Confidence and our Texas Sales Tax Revenue could be one way to look locally at ‘Consumer Confidence’.

Let’s all hope we are going to continue this trend of sales tax revenue in Texas + Austin + see it nationally!
Oh, and it might not hurt that Texas has around 1,500 newcomers PER DAY! Austin is supposed to see about 500 to 800 per week moving here

Sellers are going to pick their Realtor either through a referral, a past experience or a “cold lead” (i.e. internet, open house). I think Sellers in any type of market condition but especially this market are best served through a Real Estate Agent that has a high level of Character & Competence. With Character & Confidence honest and frank conversations can be exchanged between owner and Realtor and can really improve the success in selling a home. I don’t believe these honest and frank discussions have any merit if the owner does not truly trust the Character and Competence of their Realtor. And how would they if they don’t know the Realtor? This market is a beauty contest and price war.
It might be true for most relationships that being ‘kind’ is better than being ‘right’. However, with listing-selling-marketing a home chose your Realtor on the foundation that he/she will be having frank & honest discussions to get your home sold. Living in a home is very different than selling a home and with ‘honesty’ over ‘kindness’ you will be well served.

Distressed properties (short sales, foreclosures) generally comprimise about 7% or less of the entire sales in the Austin Area. They almost always are in below average to poor condition with some exceptions. Additionally, this aspect of our market will usually be located in Suburban areas, thus not so much an option for Urban Homestead Goals.
If Suburban markets are of interest, new homes can be very competitive since the condition and cash out of pocket for these distressed homes is very likely. The time to actually close taking ownership is 2 - 4 times as long as a 'normal' sale. Lastly, there is a ton of professional competition (investors) who are also looking to buy them with cash. When banks have an option for a cash offer or a low down payment (higher loan to value) offer, cash could win out in buying these distressed properties.
So unless you are OK with these obstacles distressed properties are probably not for you & at the very least should only be counted on in 10% of your pursuit for a Homestead.