June 2008: News from Brett Smith

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Blues on the Green Alternate Wednesdays, June 11th through August 20th 7:30 - 9:30pm @ Zilker Park's Rock Island ($3 parking off Stratford Drive under the Mopac Bridge) It's time again for KGSR’s 18th Annual Blues On the Green with FREE concerts every other Wednesday, June 11th- August 20th. Scheduled to play: 6/11 Asleep at the Wheel; 6/25 Marcia Ball; 7/9 Los Lonely Boys (w/ Shawn Sahm & The Tex Mex Experience); 7/23 Carolyn Wonderland; 8/6 Sonny Landreth; 8/20 Doyle Bramhall/ Gary Clark Jr. Learn more.

Lonestar Rollergirls: Rhinestone Cowgirls vs. Cherry Bombs Sunday, June 22nd doors open at 6:00 - bout begins at 7:00 pm @ The Austin Convention Center (500 E. Cesar Chavez) If you haven't made it out to see a Lonestar Rollergirls (Roller Derby, Texas-style) you're in for a raucous and rowdy good time. "The Lonestar Rollergirls are local favorite daughters as well as a hearty entertainment staple, perfectly blending the "Keep Austin Weird" attitude with a free-wheeling pursuit of fun and competition, with rocking local music thrown in for good measure." Don't fret if you can't make this event, check out their 2008 schedule here.

Attention Home Buyers: Lock Your Rate! If you are thinking about buying a home, you should heavily consider locking your interest rate. Rising inflation has recently sparked a jump in the interest rates on long-term government bonds resulting in spiking interest rates for mortgages. Mortgage rates went up for the fourth week in a row and have risen well over half a percentage point in the last month. The average interest rate has increased from 5.82% just a couple of weeks ago to 6.36% earlier this week. On a $300,000 mortgage, such an increase adds over $104 to monthly payments and over $37,000 in interest over the life of the loan! As of today, the average rate has dropped slightly to 6.29%, which experts site may be a temporary trend for the next month. No one can say for sure where rates will go next, but if you find a reasonable deal now, it may be worth risking a deposit to lock it in for a month or two if you can. To help with your decision you can keep an eye on mortgage rate trends and the mortgage analysis at bankrate.com. What Leads to Higher Closing Costs? A new nationwide report from the Urban Institute finds that many American's overpay by thousands of dollars in closing costs for home purchases. Why? Brian Montgomery, HUD Assistant Secretary for Housing and Federal Housing Commissioner, sums it up like this, "The core problem is that too many Americans sign a mountain of documents they don’t understand and pay thousands of dollars for services that they’ve probably never heard of. This report proves that the more informed you are, the less you pay. Our common goal should be to increase competition and transparency, and to help take the mystery out of buying a home." I fully agree and am committed to helping my clients understand the home buying process. My clients can rest assured knowing that Good Faith Estimates and other documents provided by lenders and title companies will be explained, ensuring that informed decisions are made and costly mistakes are avoided.

Home Renovation Resources With a business background, before beginning any remodeling project I can't help but ask myself if the renovation will pay off? To find out, use this Renovation Wizard to calculate the average cost of 25 common projects and how much they can add to the value of your home. Also, check out this Cost vs. Value report specific to our region, with mid-range and upscale project averages. When it's time to get started, mydesignsecrets.com is a helpful website created by interior designer Lorrie Brown, who has found a way to assist people who love a well-designed home environment and enjoy the process of doing it themselves. The site includes articles, advice, inspiration and an extensive database of vendors for everything from accessories and art to walls and windows. Although not exclusively eco-friendly, the site identifies its eco-friendly vendors. Speaking of, I'd like to remind you again about Eco-Wise as a great local resource for earth-friendly hardware supplies. Also, don't forget to take advantage of the Austin Energy incentives and services that apply to your renovations, including: Solar Rebate Program, Free Home Improvements, Energy Efficiency Rebates, and Energy Efficiency Loans, to name a few.

If you are considering buying/selling a home or know someone else who is, let me know, I'd love to help! I can be reached at: 512.470.8923 or brettsmith@cbunited.com.

Sincerely,

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Stay Cool, Save Energy, Save Money, Protect Our Planet

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It’s been unseasonably hot this year and it’s going to get hotter. If you are like me, it's probably a safe bet that your AC is running most, if not all of the time, and you're feeling concerned about the environmental consequences. Austin Energy, one of the most progressively sustainable electric companies in the country, is one of Austin's best assets. They provide some really helpful electricity saving tips to keep your home cool with less energy, and it's great that most of their suggestions include rebates and tax incentives:

• Replace your AC: Today's ACs use 30-50% less electricity than a 15-year old model. Rebate available.

• Repair ductwork: Ducts in the average home leak 25-30% of air conditioning directly into the attic. Call Austin Energy at 974-7827 for a $50 duct test. Rebate available.

• Install solar screens or solar film on windows hit by direct sunlight: Direct sunlight makes your air conditioner run longer. Solar screens on windows can block out 60% to 70% of sunlight/heat. Rebate available.

• Increase attic insulation: Over time, insulation compresses. The average 15-year old home needs 5 to 8 additional inches. Rebate available.

• Install a radiant barrier: A layer of aluminum foil-type material or special paint across the underside of your attic roof can block out 95% of the heat radiated through the roof. This upgrade makes your attic usable and reduces AC runtime. Rebate available.

• Get an AC check: Dust on AC coils reduces cooling effect as air passes over the coils, causing the unit to run longer than necessary.

• Clean or change air filters monthly: Clean filters decrease your unit's runtime. Filters have a MERV efficiency rating on the package- the higher the rating, the better.

• Replace standard light bulbs with compact fluorescent light bulbs (CFL): ENERGY STAR® compact fluorescent bulbs (CFLs) are 66% more efficient, emit 70% less heat, and last six to ten times longer than standard incandescent bulbs. Coupons and usage tips available

• Use a programmable thermostat: It will automatically adjust the temperature while you're asleep or away, saving you money. Call Austin Energy at (877) 549-2774 or sign-up online for a free, programmable thermostat.

• Manage temperature settings: Set your thermostat at 78 degrees or higher this summer. Each degree cooler than 78 increases your energy use by 6-8%.

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Beat the heat - go swimming!

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For those of you looking to beat the heat, here's a handy list of Austin-area swimming holes, compiled by our friends at Independence Title. Have fun!

Central Texas Swimming Holes

Camp Ben McCulloch Park • Bought by the United Confederate Veterans in 1904 as a reunion campground, the camp is located 22 miles from Austin near Driftwood. Take TX290 south to FM1826. It’s a beautiful, shaded park, but inconsiderate users have made litter a real problem. Camping is
allowed in unmarked sites along Onion Creek. The Salt Lick Barbecue is across the road from the park entrance.

Blanco State Recreation Area • Small dams make this park a scenic wonderland on the usually shallow Blanco River. It offers camping, picnicking, fishing, restrooms, showers, and paddleboats. It’s an ideal stop on a day trip to the historic area. One mile south of the old Blanco courthouse
on US281. 830/833-4551. Fee.

Hamilton Pool Preserve • One of the most beautiful public parks in the county. Acquired by Travis County in 1985, the site has been a popular spring-fed swimming hole since the early 1900s. The property was once owned by the brother of the 10th governor of Texas and by the Reimer family (see below). The pool is in a box canyon fed by a 45-foot waterfall with a sandy beach and giant boulders. A nature trail follows Hamilton Creek about a mile to the Pedernales River. Open 9am-6pm everyday, no one admitted into the park after 5:30pm (hiking trails are open year-round); admission is limited to 100 people. Water quality is carefully monitored and swimming is not allowed if bacteria count from nesting bird droppings is too high. From TX71 West turn left at Hamilton Pool Rd. (FM3238) and go 13 miles to the park. No glass, fishing, cooking, or pets are allowed in the park. It is best to call ahead before making the trip, 512/264-2740. Fee.

McKinney Falls State Park • If you live in Austin, you should visit this park at least once a year. The park has camping, hiking trails, and summer cabins for rent. From Ben White Boulevard (TX71) east of I-35 take Burleson Road south to McKinney Falls Parkway. Fee.

Pedernales Falls State Park • About 30 miles south of Austin off TX290. Pedernales contains white water over a gradual slope and deep, slow-moving pools at the bottom of the “falls.” Access to the river from the parking lot is a rugged, steep climb. The park offers camping, showers, restrooms, hookups, and hiking trails. 830/868-7304. Fee.

Reimer’s Ranch • Eleven miles from TX71 at 23610 Hamilton Pool Rd. and a mile before you get to Hamilton Pool Preserve. Closed Mon. & Tues., open Wed.-Sun., 7am-dark. Beautiful private park with shallow rapids and deep pools, favored by fishermen. Fee.

Lake Austin • Constant level lake with colder than usual water. The 1,830-acre Lower Colorado River Authority lake flows 20 miles up the Colorado River from Austin and Tom Miller Dam.

Bull Creek District Park • An often overlooked greenbelt, Bull Creek in North Austin is one of the nicest parks outside of the central city area. An alcohol-free park. Access to the creek is from a hike and bike trail that follows much of its winding course. The park is between FM2222 and Spicewood Springs Road along Loop 360, and the main entrance is off FM2222 at the end of Lakewood Drive. Day use.

City Park (Metropolitan Park or Emma Long Park) • Off FM2222 just west of Loop 360. It’s a great place, but crowded every weekend during swimming season. The park features camping, restrooms, cold showers, a playground, hike and bike trails, and boat ramp. Three miles of winding shoreline make it a popular place for fast boats. Fee.

Fritz Hughes Park • Just below Mansfield Dam, take Low Water Crossing Road off FM620 and go left at the “Y” in the road on Fritz Hughes Park Road. Fritz Hughes has a playground and nice picnic area, but not a great swimming area. If you go straight at the “Y” you get to the old low water crossing where the water is usually running pretty swift, and is more popular with fishermen than swimmers. Day use only. Travis County Park.

Mary Quinlan Park • Take FM620 to Quinlan Park Road. Quinlan has a boat ramp, restrooms, and little else. Day use only. Travis County Park.

Percy Pennybacker Bridge (Loop 360 Bridge or Bull Creek Park) • Under the south end of the bridge over the lake. The bridge has a nice boat ramp and dock. Primarily a parking lot for boat trailers, but a great place to go skinny-dipping late at night.

Selma Hughes Park • Take FM620 to Quinlan Park Road below Mansfield Dam. Selma Hughes has restrooms and picnic tables. It’s a small park, but scenic, with a nice, sandy lake bottom and plenty of shade trees. Day use only. Travis County Park.

Westlake Beach • This privately owned park has a shaded picnic area, marina, concession stand, diving platform, playground, showers, and beach and water volleyball. Great place for family reunions or birthday parties. From Tom Miller Dam off Lake Austin Boulevard, take Red Bud Lane to a right on West Lake Drive and follow it around to park. Day use only. Fee. 2509 Westlake Dr. 512/327-9004.

Barton Creek • Barton Creek is part of the Edwards Aquifer recharge zone and the most beautiful urban natural area in the U.S. Access points to the creek are at Zilker Park, Loop 360 east of Loop 1, Barton Skyway at Spyglass, Gus Fruth Park on Barton Hills Drive, Camp Craft Road at the end of Westbank Drive, and Loop 1 south of Loop 360. Greenbelt and parks are alcohol-free areas. There are several popular spots on the creek, but these are the most popular.

Barton Springs Pool In Zilker Park • This gorgeous swimming hole is one of the top 10 tourist attractions in Austin. The spring-fed water is a consistent 68 degrees year-round. Showers, restrooms, a snack bar, playground, picnic tables, and canoe rental are available. Fee.

Campbell’s Hole • About a mile upstream from Barton Springs Pool on Barton Creek Greenbelt. Also accessible from Spyglass Road. It’s a wonderful location with a deep pool that has water most of the year and small rapids upstream when the creek is running. It used to give visitors the illusion of being lost in the country, but now the cliffs are capped with condos.

Gus Fruth Park • One of the best parks and swimming holes on the Barton Creek Greenbelt, it has white water around big boulders and deep pools. It’s accessible by a rough, steep climb from Barton Hills Drive or a long walk on the greenbelt hike and bike path.

Twin Falls • Two small waterfalls here empty into a small pool. It’s a better place to people watch than to swim. Accessible from the entrance off the access road Loop 1 just south of Loop 360.

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Texas Property Tax Calendar

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January
01: Effective date for all property tax appraisals
31: Last day to pay previous year’s taxes without penalty
Last day to file late protest of prior year’s tax appraisal (Sec. 25.25)

April
15: Last day to file business personal property rendition
30: Last day to file for exemptions and special valuation applications
such as Open Space 1-d-1 (ag use)

May
01: Notice of Appraised Value mailed by appraisal district
31: Last day to file written protest to contest proposed tax appraisal or
exemption denial, unless notices mailed after May 1

July
01: Delinquent taxes from previous year reach total of 27% penalty and interest

September
30: Taxing units adopt current year tax rates

October

Taxing units mail annual property tax statements, payable by January 31 of the following year

Property Tax Code Section 1.06 moves deadlines to the next business day if deadline falls on a weekend or legal holiday

Courtesy of:
Tax Remedy, Inc.
8705 Shoal Creek Blvd., Ste. 116
Austin, Texas 78757
512) 476-2277
www.taxremedy.com

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May 2008: News from Brett Smith

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2008 Austin Wine Festival May 24 - May 26, 2008 Sat. 3am - 9pm, Sun. 1 - 9pm & Mon. 1 - 6pm @ The Domain (Northwest Austin near Mopac & Duval) Get a taste of the Texas Hill Country's internationally awarded and recognized wines from over 21 wineries, enjoy a dozen Texas bands/performing artists, food and fun, all benefitting the Austin Farmers' Market! The kids will enjoy balloon artists, face painting and a moon bounce, too. Learn more.

Kerrville Folk Festival April 22 - June 8, 2008 @ Quiet Valley Ranch, 9 miles south of Kerrville It's that time of year again for one of the most celebrated and longest running music festivals in the U.S. Catch emerging artists as well as legendary talents over 18 days of folk, bluegrass, acoustic rock, blues, country, jazz, and Americana music. In addition to live music there are workshops in songwriting, blues guitar, and harmonica, special activities for children, camping, bike rides, canoe trips and 2008 schedule here.

The unforseen costs of your commute Think it’s more affordable to live in the suburbs and commute? A recently-released study may make you redefine affordable. Chicago-based Center for Neighborhood Technology (CNT) and The Brookings Institution in Washington, DC as part of Brookings’ Urban Market Initiative recently launched a new interactive mapping web tool that measures the true affordability of housing by accounting for transportation costs. The tool provides total housing and transportation costs as a percent of income on a neighborhood-level basis for 52 metropolitan areas across the U.S., including the Austin - San Marcos area. It's pretty fascinating, check it out: http://htaindex.cnt.org.

Going Green in Your Home More and more potential home buyers are asking about “green homes” and with demand for environmentally friendly homes blossoming across the country, one way to make a home stand out is to retro-fit it to green standards. Fortunately, in Austin there's a lot of support for going green. Following are some tips from the professionals at Coldwell Banker Real Estate Corporation as well as some links to local green resources to help make your home sustainable, energy- and cost-efficient now, and appealing to eco-conscious homebuyers later. Replace hardwood floors with renewable materials: While hardwood has been the flooring of choice for the past several years, bamboo floors are much more eco-friendly because bamboo grows more quickly and can be replaced easily. In the kitchen, linoleum floors, made from solidified linseed oil, wood flour or cork dust over a burlap or canvas backing, is very eco-friendly compared to modern floor coverings made from polyvinyl chloride. If you haven't already, check out Austin's own pioneering green store, Eco-Wise, for earth-friendly flooring, paints and more. Don’t flush away your money! Consider replacing existing commodes with low-flow toilets that use about 20 percent less water per flush, or with dual-flush toilets that have two buttons to give home owners the choice of flushing with a half- or full tank. The City of Austin has a great Toilet Replacement Program, with FREE Toilets and installation rebates! Green Gardening: Sustainable landscaping is becoming all the rage to eco-conscious home owners. Planting native plants, vegetation and shade trees strategically around a home can keep a house cool during the summer and block cold winds during the winter. And native vegetation will thrive in its preferred environment and not require excess water. In addition, concrete driveways and patios can be replaced with permeable paving materials that will allow water to pass through to the ground, thereby reducing runoff that can create soil erosion and flooding of the municipal sewer systems. Check out the City of Austin's Green Gardening Initiative and download a free copy of the SMART Scapes booklet to learn more about landscaping sustainably in Central Texas. Switch to Green Power: The use of renewable energy in a home, such as solar, wind, water or geothermal, greatly helps reduce pollution. However, installing solar panels or wind generators can be enormously expensive. Lucky for us, Austin Energy is a national leader in the sustainability movement, offering home owners an option to purchase a form of renewable energy that doesn't cost much more than conventional energy through its Green Choice program. Austin Energy also boasts one of the country's best Solar Rebate programs and they offer many other incentives and services, including: Free Home Improvements, Energy Efficiency Rebates, Energy Efficiency Loans, and more. Going Green in Austin - dates to save: May 24 - 26th: ENERGY STAR Sales Tax Holiday Enjoy no state or local taxes on qualifying ENERGY STAR labeled products! June 7th: Green By Design Workshop Austinites preparing to build, buy, or remodel a home can learn how to improve energy and water efficiency, increase comfort, and reduce maintenance.

If you are considering buying/selling a home or know someone else who is, let me know, I'd love to help! I can be reached at: 512.470.8923 or brettsmith@cbunited.com.

Sincerely,

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April 2008: News from Brett Smith

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Art City Austin '08 April 12 - 13, 2008 Sat. 10am - 5pm & Sun. 11am - 6pm @ Cesar Chavez between Colorado & Lamar For those of us who need a regular culture fix, Art City Austin caught my eye. Connect with Austin's art scene at this temporary utopia featuring 220 visual artists, live music, local food, community art installations, kid's block and more.

Austin Green Living Expo April 18 - 20, 2008 Friday 2pm - 7pm, Saturday 10am - 7pm & Sunday 11am - 5pm @ The Austin Convention Center (500 E. Cesar Chavez) For the ecologically-minded, the Austin Green Living Expo may be the event of the year. The expo features info, products and seminars on everything green, including: Green Building, Organic Gardening/Native Landscaping, Renewable Energies, Alternative Fuels, Transportation Alternatives, Sustainable and Eco-Friendly Interiors, Organic Foods & Cooking Demonstrations, Fair Trade Products andmore.

WHY AREN'T MORTGAGE RATES LOWER? As you may have noticed in the news lately, the "Fed" has recently lowered interest rates. I've been getting a lot of questions about how this affects mortgage rates and you might find the answer surprising. I recently ran across this great article, Why Mortgage Rates Aren't Lower, which sheds some light on the subject.

The Tax INCENTIVES OF HOME OWNERSHIP It's tax season again and Coldwell Banker® has identified the following list of tax incentives for home ownership. Those who experience apprehension around the financial responsibility of owning a home will be relieved to learn that home ownership also offers financial benefits, including providing a tax haven. As always, I advise taxpayers to seek the advice of a financial professional: Deductible Property Taxes and Interest: Most homeowners can deduct property taxes and interest paid on their mortgage every year of ownership. In fact, the tax code allows homeowners to write off interest on first and second mortgages - including equity lines and loans - up to $1.1 million worth of the overall mortgage debt. Borrowing Against Equity: Homeowners can borrow against the equity they have built up in their homes. Equity from a home can be used to improve the property, buy a car or pay for education. Homeowners may also have the ability to deduct the interest from their federal taxes.  Real Estate Tax Exemptions: Depending on the state, certain real estate tax exemptions apply for homeowners who meet specific criteria.  There are several types of "Homestead" exemptions you may qualify for in Texas. More information about Texas Homestead exemptions is available at the state website of Susan Combs, Texas Comptroller of Public Accounts. However, always check with local assessors and tax consultants to ensure exemptions apply to you.

If you are considering buying/selling a home or know someone else who is, let me know, I'd love to help! I can be reached at: 512.470.8923 or brettsmith@cbunited.com.

Sincerely,

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