The 2 Davids

Questions and Answers regarding the First Time Home Buyer Tax Credit

David Richard — Tue, 14 Apr 2009 18:06:00 GMT

This really could be the best time for a first time home buyer to start building their nest egg. For another 8 months the Federal Government will help you out. After that, your guess is a good as anyone else's. But for now, this is an offer of free money. My advice, take it.

We still get lots of question regard the specifics. So, let's go to the source. Here is the link to the IRS page that explains it in a meaningful way and not just legal jargon.

http://www.irs.gov/newsroom/article/0,,id=206293,00.html

If you still have a question, leave it in comments and I will get an answer for you.

Chief Executive magazine Texas #1

David Richard — Fri, 27 Mar 2009 10:26:00 GMT

Chief Executive magazine has again ranked Texas as the best state in the nation to conduct business. If only the national news reporting of doom and gloom would ease, we could all get back to work. Here is the article from Austin Business Journal.

http://austin.bizjournals.com/austin/stories/2009/03/16/daily36.html?surround=etf

Home prices in Texas, and Austin in particular, increased in 2008 - A look back

David Richard — Fri, 27 Mar 2009 00:39:00 GMT

The summary of housing prices in the nation for last year from the Federal Housing Finance Authority are out. Nation wide housing prices fell 4.5%. Texas home prices were up 2.1% in 2009. Austin did even better with home prices increasing 4.4%. Here are a few other select city results.

Abilene up 2.7%
Austin–Round Rock up 4.4%
Brownsville-Harlingen down 2.6%
College Station–Bryan up 5.5%
Corpus Christi up 1.8%
Dallas-Plano-Irving up 1.9%
El Paso down 0.4%
Fort Worth–Arlingtonup 1.2%
Houston–Sugar Land–Baytown up 3.7%
Killeen–Temple–Fort Hood up 2.5%
San Antonio down 1.6%

Austin Second Fastest Growing City in the Nation - ABJ

David Richard — Mon, 23 Mar 2009 21:21:00 GMT

Austin is still growing at a good pace and that will help us all through the rough times in the national economy. The US Census Bureau now puts the population of the Austin MSA at 1.65 million.

http://austin.bizjournals.com/austin/stories/2009/03/16/daily51.html?ana=e_du_pub

Phase one of ACC's Round Rock Campus get under way

David Richard — Tue, 17 Mar 2009 19:05:00 GMT

Soon, the second largest employment sector in Round Rock will be Health and Medical. This is great new for our regional economy.

http://www.costar.com/News/Article.aspx?id=5B2F32F2B2D34CF17425CDE6369AFA79

When completed, this facility will accommodate over 11,000 students.

Federal Stimulus impacts green home improvements

David Richard — Tue, 17 Mar 2009 14:55:00 GMT

The $787 billion federal economic stimulus bill has several tax provisions affecting energy efficiency improvements in placed in service in 2009 and 2010.

The tax credit for qualifying products has been increased from 10% to 30% up to a maximum allowed credit of $1,500. This would allow a home owner to spend up to $5,000 on improved insulation, windows, duct work, etc and take the 30% tax credit on their 2009 or 2010 return.

The cap on the 30% tax credit for switching to renewable energy has been removed. If you install a solar panel array at a cost of $15,000, your credit is now $4,500 instead of the previous cap of $2,000.

Remember, financing for many of these improvements is available and spreads your cost over the years of savings. There are also programs through Austin Energy that provide incentives for many of the same projects.

For more information on the federal stimulus go to http://www.greeneconomyinitiative.com/news/185/ARTICLE/1449/2009-02-17.html

For more information on the Austin Enerty programs go to http://www.austinenergy.com/Energy%20Efficiency/index.htm

Austin Mayoral Race...

David Burton — Thu, 12 Mar 2009 19:46:00 GMT

The following candidates (in no specific order) came together for the first time in one room at the Austin Board of Realtors forum on Wednesday 3/11:

David A. Buttross, 39, real estate investor
Josiah James Ingalls, 28, a Hilton houseperson
Lee Leffingwell, 69, Austin City Council Member
Brewster McCracken, 43, Attorney (Austin City Council Member)
Carole Keeton Strayhorn, 69, founder and president of Our Texas Grandchildren Foundation

It certainly is too early to guess what will happen with this race….one poll shows Strayhorn ahead of favored council members McCracken and Leffingwell. The issues are many with the current economy and if you look back at the data when Will Wynn was elected, only 9000 members of our community voted. This is dumbfounding to me for a city our size. There is a lot at stake and how fast we are able to come out of the down economy will certainly be decided by our city leaders. Who offers the foresight and leadership ability to create more jobs and have more business move to Central Texas? Which of these candidates has the ability to find the balance between growth and environment protection and mostly which of these candidates is willing to make the tough decisions and take ownership for running the council instead of hiring tons of consultants and passing responsibility off to the city manager? Truly, I encourage you to stay on top of this race and be informed and certainly to get out and vote…our city is too important to have the Mayor selected by a so few.

Election day is May 9th, if there is a run off which many expect, it will take place on June 13th ~

Number of homes sold nationwide is up - ABJ

David Richard — Tue, 27 Jan 2009 19:40:00 GMT

The number of foreclosures continues to increase. However, we are now seeing the number of homes sold begin to increase again nationwide.

http://austin.bizjournals.com/austin/stories/2009/01/26/daily4.html?surround=etf

Affordable Condominium For Sale in Travis Heights

David Richard — Tue, 27 Jan 2009 19:39:00 GMT

• 1,257 sq. ft., 1 bath, 1 bdrm single story - MLS® $226,000 - Rare $$ in Travis Heights

Travis Heights, Austin - Great location, rare chance for affordable living in original Travis Heights Subdivision.

Property information

Good news for Austin is getting harder to come by. Austin in Top Ten for salary growth

David Richard — Tue, 27 Jan 2009 02:36:00 GMT

10 Great Cities for Salary Growth

by Siri Anderson, PayScale.com

We all want to know what's going to happen with the job market in 2009, especially where salaries are concerned. Is a raise in your future? It might just come down to where you live. Yet the most recent and complete numbers for salary growth in metropolitan areas are from 2007, and with everything our economy has been through in recent months -- unstable markets, major businesses collapsing, and an official announcement of a U.S. recession -- those numbers seem all but obsolete. So, how do you know which city might offer you a salary boost? According to Laurence Shatkin, author of the recently published "150 Recession-Proof Jobs," there is a pattern to discover in the places that do well in a recession. Industries such as basic health care, education, transportation services and government jobs stay strong in a recession because they cater to more basic societal needs. These industries will frequently concentrate in the same areas -- quite often state capitals -- maintaining job growth and wage increases, while other areas suffer more. Below are some profiles of the top-performing large cities of 2008 and their 2007 statistics on personal income growth, according to the Bureau of Economic Research. Looking at these numbers and how "recession-proof" their main industries are will hopefully give an idea how well they'll continue to perform into 2009.

Austin-Round Rock, TX - pop. 840,066 - 7.7% avg. salary increase
Building off of an already robust government labor sector, the University of Texas at Austin is a huge source of innovation. The area has been using UT's excellent programs from bioengineering to pharmaceutical research programs to invigorate both the technology and burgeoning pharmaceutical industries.

Bakersfield, CA - pop. 315, 837 - 6.6% avg. salary increase
Oilfields and other natural resources created a lot of opportunity for growth around this city recently, and increased demand for services has spurred along the education and health-care sectors. Wages grew here much faster than the national average in recent years, and though that rate is expected to taper, nearby Edwards Air Base and Chevron should help to stabilize the economy and maintain a decent wage growth for transportation and logistics jobs.

Charleston-North Charleston-Summerville, SC - pop. 245,472 - 8.1% avg. salary increase
The Medical University of South Carolina gives weight to this area's healthcare industry and is inspiring recent investment in the biosciences. This adds to Charleston's already strong transportation/logistics industry -- the Port of Charleston is among the most efficient ports in North America, and that should keep business rolling and wages rising.

Huntsville, AL - pop. 171, 327 - 6.4% avg. salary increase
Yet another city whose strong and growing economy is due to the technology industry, Huntsville's U.S. Army post is also expected to grow over the next few years. In addition, it has just opened the doors to HudsonAlpha Institute for Biotechnology which should only encourage more growth in jobs and wages in 2009.

McAllen-Edinburgh-Mission, TX - pop. 197, 183 - 7.1% avg. salary increase
Call centers established by Convergys and T-Mobile in this area have created a healthy chunk of jobs recently. The area has also strengthened its home healthcare industry, which is now the second largest employment sector after state and local government. Drawing off these "recession-proof" industries gives hope that wages will continue to grow.

Orlando-Kissimmee, FL - pop. 289,684 - 5.2% avg. salary increase
The health-care industry has been the impetus behind this area's growth, so odds are that the downturn won't hit this area very hard. The Burnham Institute for Medical Research and a new medical school at the University of Central Florida are expected to attract other industries to the area, particularly high-tech firms, all of which point to good chances for wage growth.

Provo-Orem, UT - pop. 210,670 - 9.7% avg. salary increase
Benefiting from the innovative brain-power of Brigham-Young University, the information service industry in this city has been fueling rapid growth over the last five years. Business investment in the tech sector remains strong, which should help Provo-Orem ride out the ,slowdown in good form.

Raleigh-Cary, NC - pop. 375,806 - 8.7% avg. salary increase
State government employment gives this capital city a sturdy backbone for economic security. High quality educational centers (North Carolina State; University of North Carolina, Chapel Hill) inject creative brainpower into Raleigh's thriving tech companies and its growing biopharmaceutical sector -- all good signs for strength in the coming year.

Salt Lake City, UT - pop 180,651 - 9.2% avg. salary increase
Like Raleigh, Salt Lake City boasts great tech and government jobs. In addition, health care (Intermountain Health Care) and education (University of Utah) add extra spark to SLC's economic fire. Based on this, expectations are high that wage growth will remain comparatively strong.

Seattle-Tacoma-Bellevue, WA - pop. 912,077 - 8.4% avg. salary increase
Microsoft and Boeing are the main jolts of force behind this area's continued growth. Looking into the future, with the heightened interest in green technology, Boeing's push for a more fuel-efficient commercial aircraft will likely reap great rewards. Strong health-care and research institutions also keep paychecks growing in slower economic times.

Sources: Best Performing Cities 2008 (Milken Institute and Greenstreet Partners, September 2008); Personal Income for Metropolitan Areas 2007 (Bureau of Economic Analysis, U.S. Department of Commerce, August 2008); "150 Best Recession-Proof Jobs" (Laurence Shatkin, Ph.D.)

New 2/2 Condominium at 2200 Dickson Drive #203 just off South Lamar

David Richard — Thu, 22 Jan 2009 01:33:00 GMT

South Lamar, Austin - Announcing a price reduction on 2200 Dickson Drive #203, a 903 sq. ft., 2 bath, 2 bdrm single story. Now $229,000 - .

Property information

Single Story For Sale in South Lamar

David Richard — Thu, 22 Jan 2009 01:16:00 GMT

First Complex Rated 4 Star Austin Energy

• 664 sq. ft., 1 bath, 1 bdrm single story - $148,900

South Lamar, Austin - Akoya is the first multi-family 4-Star Austin Energy Green Building in Austin. Michael Hsu Design Office, Located in vibrant South Lamar District we are close to Kerby Lane Cafe, Broken Spoke, Horseshoe Lounge, Uchi etc.

Property information

Texas leading the nation in employment growth rates

David Richard — Fri, 09 Jan 2009 17:18:00 GMT

This is from the latest report from the U.S. Department of Labor. Over the previous year, non-farm employment rose in 11 of the 38 metropolitan areas surveyed with the largest year-over-year percentage employment gain recorded in Houston-Sugar Land-Baytown (up 2.1percent), followed by San Antonio (up 2 percent); Austin-Round Rock (up 1.6 percent) and Dallas-Fort Worth-Arlington (up +1.6 percent).

The report went on to say that 121 metropolitan areas had jobless rates reaching 7% or above, up from only 18 areas the year before. In addition, 34 areas had rates below 4%--far fewer than the 133 areas that had jobless rates below 4% in Nov. of 2007.

The report goes on to say the Dallas-Fort Worth-Arlington unemployment rate hit 5.7% in Nov. of 2008, which is higher than the area's unemployment rate of 4.1% a year ago.

Austin Office market 5th strongest in 2009, retail 8th strongest in 2009

David Richard — Fri, 09 Jan 2009 16:58:00 GMT

Although the slowing in job creation in Austin is a concern to economists, we are still one of the best places to bo for real estate in 2009. Here is the artice from the Austin American Statesman.

http://www.statesman.com/blogs/content/shared-gen/blogs/austin/realestate/entries/2009/01/05/report_austin_office_retail_ma.html

Perspective on Austin's Housing Market - ABJ 12-30-08

David Richard — Wed, 07 Jan 2009 20:27:00 GMT

As long as Austin continues to create jobs, we well fair quite well through this economic downturn. As the following article shows, our new home construction remains in line with what our current economy can absorb.

http://austin.bizjournals.com/austin/stories/2008/12/29/daily14.html?ana=e_du_pap

What a great time at 18th Anniversary Party for 107.1 KGSR

David Richard — Mon, 15 Dec 2008 01:19:00 GMT

I had the great fortune receiving a ticket from Barb Cooper for this fun event. Yesterday, after a waiting in a line that stretched from the entrance to the Texas Union Ballroom down the side stairs and out onto the courtyard of the Student Union, the doors opened at 6:45 and the line moved quickly inside. Here we were greeted by a large stage, comfortable seating and a complimentary buffet of Salt Lick Bar-b-Que.

For those of you not from Austin, KGSR and the Salt Lick of two of the institutions that make Austin such a great place to live. The music began exactly at 7:30 since it was being broadcast live with a great set by Tift Merritt that placed the bar high for the remaining acts. She was follow by the Special Guest Todd Snider. His performance was surprising and quite entertaining. Next, the Bodeans rocked the house for a good hour and then Alejandro Escovedo, back from his gig at the Democratic National Convention, brought this fantastic evening to a close.

THANK YOU BARB!

David Burton and Becky Hill at WCR Inaugural Ball

David Richard — Sat, 13 Dec 2008 19:47:00 GMT

David Burton and Becky Hill at the National Women's Council of REALTORS

Inaugural Ball in Orlando. November 2008

The chance of a lifetime in real estate

David Richard — Sat, 13 Dec 2008 01:49:00 GMT

In this article from the New York Times, a very strong case is made for buying now. Simply put, the old wisdom of Buy Low, Sell High applies now more than ever. We may not be at the bottom of the national real estate cycle. Unfortunately, we will only know where the bottom is by looking back. Still it is certain that we are much closer to the bottom than 10 months ago. None of us should look back on this time with regret.

http://www.nytimes.com/2008/12/06/business/yourmoney/06money.html?_r=2

Austin Supports Locally Owned Small Businesses

David Richard — Sat, 06 Dec 2008 22:31:00 GMT

In order to help us make sure our consumer dollars stay in our community and benefit the people of Austin, the City has created a great new site.

www.ExploreLocalAustin.org

Over the next few months, additional areas are to be added to their list. This is a great tool for locating a business or learning you neighborhood

Austin job creation still outpacing rivals

David Richard — Sat, 06 Dec 2008 22:19:00 GMT

ABJ - 12/2/08 Once again our stats show slow but steady growth. Its good to be in Austin.

http://austin.bizjournals.com/austin/stories/2008/12/01/daily24.html?ana=e_du

More growth heading East from Austin

David Richard — Fri, 05 Dec 2008 14:06:00 GMT

The new tollway for the Manor Expressway was approved by CAMPO December 1st. Here is the article.

http://austin.bizjournals.com/austin/stories/2008/12/01/daily32.html?surround=etf

More really great sites you should be using.

David Richard — Thu, 04 Dec 2008 01:46:00 GMT

These two come from my friend Mo Brantley. Thank you Mo!

Besides the already featured www.walkscore.com, a great way to check out where you are considering living is to go to http://www.city-data.com/. This site will tell you more about your neighborhood than you want to know. Put in where you live now and you will be suprised. Or how about this link, http://www.city-data.com/top2/z52.html.

What is happening in West Campus - ABJ 11-28-08

David Richard — Wed, 03 Dec 2008 15:53:00 GMT

We have all noticed the cranes in West Campus the last few years. ABJ put together a good summary of the changes.

http://austin.bizjournals.com/austin/stories/2008/12/01/focus1.html?surround=etf

Basically, the University Neighborhoods Overlay Plan, UNO, is working and there will be increasing opportunities for small retail and office as density continues to increase.

Texas Foreclosure numbers for October - ABJ 11-14-08

David Richard — Mon, 17 Nov 2008 15:55:00 GMT

Out of the 279,561 homes that entered the foreclosure process nation wide, only 9,900 of them were in Texas. Texas represents 6.3% of the total population and only 3.2% of these foreclosures. Here is the link to the full article:

http://austin.bizjournals.com/austin/stories/2008/11/10/daily59.html?b=1226638800%5E1734281&surround=etf

Austin 4th on List of Major Growth Centers - ABJ 11-10-08

David Richard — Tue, 11 Nov 2008 02:19:00 GMT

Still another great ranking for Austin

http://austin.bizjournals.com/austin/stories/2008/11/10/daily12.html?b=1226293200%5E1730907&surround=etf