For homeowners around the country, facing foreclosure became an unfortunate reality during the recession. While a number of homeowners have been forced into foreclosure on their homes in Austin, the good news is that RealityTrac Inc. has determined that foreclosures in Texas were actually down 7% during the month of August.
For the month of August, the state recorded a total of 11,261 default, bank repossession and auction notices. While this number may sound a bit disheartening, it is actually 6.8% less than the numbers that were posted in July. In fact, during July, these sort of filings were occurring at the rate of one out of every 838 households throughout the state, which put Texas as the 27th highest state in the country in terms of auctions,…
Americans have long believed that purchasing a home is a good investment. Thanks to the recession, many experts hypothesized that many would no longer view home ownership as a great investment. According to a recent study conducted by Bankrate Inc., however, home ownership is still viewed as a solid investment by most.
According to the study, more than 9 out of 10 people who participated inn the survey still feel that owning a home is a good investment. This may seem like a bit of a shock considering that 25% of Americans currently owe more on their homes than what their homes are worth.
In addition to still believing that home ownership is a good investment, the recession does not seem to be making much of an impact on Americans in other areas of the…
The recent stimulus package included a great deal of funding that is to be used toward the development and implementation of renewable energy initiatives. For Texas residents, however, this new push toward the use of renewable energy is nothing new. In fact, according to the American Wind Energy Association, the state ranks number one in terms of new wind power generation capacity.
Thanks to the fact that the state added 454 additional megawatts of wind energy to its generating capacity in the second quarter of 2009, the state is now able to generate more than 8,000 megawatts of energy. According to the American Wind Energy Association just 1,210 megawatts of new wind power has been added nationwide, but even this amount is able to power 350,000 homes.
A new analysis recently conducted by the Capital Area Council of Governments has determined that the Austin real estate region will likely begin to see signs of economic improvement later this year.
The analysis, which involved taking a closer look at IHS Global Insight data, determined that the Austin - Round Rock region's gross metropolitan product - which is the value of all of the goods and services produced in the area - should be back in the positive range by the time the fourth quarter rolls around.
According to the data, the GMP growth rate in Austin was at 5.1% when the recession officially started during the fourth quarter in 2007. This number steadily declined for every quarter afterward, until it finally fell into the negative range during…
According to a survey conducted by the ETC Institute, Austin's residents rank the city's services at above the national average. The survey considered a number of different services, including:
• Curbside recycling
• Drinking water quality
• Parks
• Swimming pools
• Youth athletic programs
The survey was conducted by taking a random sample of 1,293 households throughout the city and has a margin of error of plus or minus 2.8%. When compared to cities with populations of over 250,000, Austin ranked particularly high for its "overall quality of customer service provided by city employees." The city also ranked highly for the condition of its streets, the condition of its public areas and for being a great place to raise children.
Although home sales are still down in the Austin area, the figure are steadily showing signs of improvement. Furthermore, prices of homes in the Austin area continue to hold steady, which is one reason why Forbes.com has named Austin as the city most likely to make the fastest economic recovery.
According to the Austin Board of Realtors, a little more than 2,100 single-family home sold in the Austin area in June. This represents a 4% decline when compared to June of 2008, but the year-to-year gap continues to close each month.
Unlike much of the housing market around the country, the median price for single-family homes in the Austin area has not changed when comparing it to a year ago. In fact, with the median home price coming in at just under…
The Watershed Protection and Development Review Department is reporting that the city of Austin may be closing the popular Barton Springs pool for a period of time. Apparently, the pool is in need of receiving some critical structural repairs and, in order to successfully make these repairs, the pool will need to be closed for up to eight months.
The process of repairing Barton Springs is still in its early stages, as the Watershed Protection and Development Review Department is still to determine just how much the repairs will cost and how long the pool will need to be closed. Currently, the Department is estimating that it will cost anywhere from $2.5 million to $4.7 million to complete the repairs. In addition, the department estimates the project…
The city of Austin and its residents have long been recognized for their commitment to live a "greener" lifestyle. As such, it shouldn't come as too much of a surprise that the city was recently listed as one of the top 10 greenest cities by The Mother Nature Network.
Founded in 2008 by Chuck Leavell, who is the keyboardist for the popular band Rolling Stones, The Mother Nature Network is dedicated to educating people regarding eco-friendly business practices, transportation options, lifestyle choices and more. The network included Austin in its list of green cities largely because of the city's Climate Protection Program, which is the city's plan to be carbon-neutral by 2020, as well as its electric utility Austin Energy. Austin Energy is a leader in…
According to Forbes.com, Austin's economy is expected to grow by a whopping $5 billion from now until the end of 2010. These figures, combined with the fact that Austin has a relatively subdued unemployment rate, are the two greatest reasons why Forbes.com has identified Austin as the city that is likely to experience the quickest recovery from our current economic troubles.
Several economists are already predicting that our national economy will start to grow again by the end of this year, if not sooner. This will not, however, be the case for every city. In fact, many cities will be faced with a slow recovery, with many likely to need several more years to recover.
Austin isn't the only city in Texas that is poised for a relatively fast turnaround, as…
Although quite a few wineries have popped up in Austin over the past 10 years are so, there are also plenty of wineries that have been around for much longer. Each of these wineries has been around for so long for one simple reason: they produce a great product. So, whether you live in Austin or you are planning a visit, a stop at one of these tried and true wineries is certainly worth your time.
Fall Creek Vineyards
Fall Creek Vineyards has been around since 1979 and is located in Tow. This winery’s specialty style is classic chardonnay, sauvignon blanc, viognier, cabernet sauvignon, and shiraz that has been perfectly blended in a “New World style” with “Old World grapes.” The showcase wine of Fall Creek Vineyards is its 2004 Meritus, which is a…
