Listen up folks!  Interest Rates are beginning to creep up, just as we expected would happen eventually.

Stop Monkeying Around and Get Off the Fence!!

Mortgage rates rose this week as the economy improves and fuels investor  confidence.

From BankRate.com…..The 30-year fixed-rate mortgage rose 4 basis points to 4.15 percent. A basis  point is one-hundredth of 1 percentage point. The 15-year fixed-rate rose 4 basis point to 3.38 percent. The average rate  for 30-year jumbo mortgages, or generally for those of more than $417,000, rose  10 basis points to 4.73 percent.

Michelle Viera, Mortgage Advisor with Coldwell Banker Mortgage, released these rates for:

                                                   Monday 3/12     Wednesday 3/14              Today 3/15

Conventional 30 yr               4.00                         4.125                                4.25

Conventional 15 yr                3.30                         3.40                                  3.48

FHA 30 yr                               3.93                         4.14                                   4.18

VA 30yr                                  3.95                         4.125                                 4.17

GET OFF THE FENCE AND BUY A HOUSE!!!

Don't Be a Squirrel....Get Off the Fence!

 GET OFF THE FENCE AND BUY A HOUSE!!

Be Wise! Get Off the Fence!

Don't Be a Chicken! Get Off the Fence!

I have been getting asked quite a bit from clients in the Austin market about this tax.  Numerous articles are being circulated throughout the internet about the 3.8% tax to go into effect on Jan.1, 2013.  Here is the real story about this tax.

My source, the National Association of Realtors® has published an article that reveals the true and accurate info on the 3.8% tax that the health care legislation enacted for 2013.  The new tax was designed to affect upper income taxpayers. The 3.8% tax is imposed ONLY on those with more than $200,000 of Adjusted Gross Income (AGI) ($250,000 on a joint return). The tax applies to investment income, defined as interest, dividends, capital gains and net rents. These items are all included in an individual’s AGI. A formula will determine what portion, if any, of these types of investment income would be subject to the tax.

The tax is NOT a transfer tax on real estate sales and similar transactions. Shortly after this tax was enacted, many erroneous and misleading emails began circulating on the Internet and created a great deal of misunderstanding and made the tax into something far more outlandish than the actual tax provisions state.

The new tax does NOT eliminate the benefits of the $250,000/$500,000 exclusion on the sale of a principal residence. Thus, ONLY that portion of a gain above those thresholds is included in AGI and could be subject to the tax.

To familiarize yourself with the tax, you can read info about it at NAR’s 3.8% Tax Brochure.    The amount of tax will vary from individual to individual because the elements that comprise AGI differ from taxpayer to taxpayer.  Taxpayers will need to talk to their CPA to find out how it applies to each individual.

(Source: National Association of Realtors® )

PATTI SIMON

REALTOR®, ABR, GRI

Coldwell Banker United, Realtors

Austin, TX

512-913-4124 direct

512-628-3031 efax

http://MyHomeinAustinTexas.com

Have you heard about this?  I just read this recently! Vinegar can help keep your berries from molding and they will last much longer in the frig.

Berries of all kinds are delicate. Raspberries especially seem to mold before you even get them home from the store.   With fresh berries just starting to hit farmers markets and stores, I thought I would  share this tip.  When you get home with the berries, prepare a mixture of one part vinegar (white or apple cider probably work best) and ten parts water.  Dump the berries into the mixture and swirl around. Drain, rinse if you like, and pop in the fridge.

The vinegar kills any mold spores and other bacteria that might be on the surface of the fruit! Raspberries will last a week or more, and strawberries go almost two weeks without getting moldy and soft. So stock up, knowing your berries will stay fresh.  There are numerous farmers markets around the Austin area. Check them out and ENJOY!

The Newest High School in Leander ISD

In the year 2000, only 7600 people lived in Leander Tx. with approximately 2000 students enrolled in Leander ISD.  As of 2009  28,000 students were enrolled in Leander ISD.That makes Leander ISD the largest school district in Williamson County. Just the student population alone, is 10 times what the general population was just 10 years ago. Leander ISD has nearly 40 schools now in the district. The newest school is Vandergrift High School and their mascot is the Vipers. Located in the area of 2222 and 620, this will be the fourth High School for Leander ISD, and has approximately 376,400 square feet of space.

Vandegrift High School first opened in the 2009-2010 school year, in the building that is now Four Points Middle School, and only allowed freshmen and sophomore students. As of August 23rd, this year, the Juniors will begin attending the school. Next year, during the 2011-2012 school year, Vandergrift High School will accomodate all four grades: Freshmen, Sophomores, Juniors and Seniors. Leander ISD planned a slow increase in student population at Vandergrift High School, as to get the district accustomed to everyone going to the new school. Once all students are attending Vandergrift High School, there should be approximately 1800 students that will be attending the school.

It was voted unanimously by the Leander ISD Board of Trustees to name the school, Vandergrift High School, in honor of Lt. Matthew Ryan Vandergrift, a Class of 1999 Honors Graduate and athlete. Vandergrift was also an Honors Graduate of Texas A&M with a degree in International Business, prior to enlisting into the United States Marine Corps in August 2005.  Vandergrift was killed in Iraq in April 2008.

Patti Simon, REALTOR®, ABR, GRI
512-913-4124
www.MyHomeinAustinTexas.com

ALWAYS, ALWAYS proof read your work! My sister in law sent this to me today from her local newspaper, The Waco Tribune Herald. This is my WORST nightmare! I have a fear of not proof reading an ad and this happens!! I mean, you have to just laugh at yourself when something like this happens to you! I’ll just bet that Gilda’s face turned as red as her jacket when she saw her newly published FULL COLOR ad in Sunday’s paper! If you have a funny story you would like to share, leave  a comment.

If you haven’t been to Perry’s Steakhouse, you should!! It’s a wonderful place to dine. Perry’s Steakhouse is located in downtown Austin at 7th and Colorado. Within walking distance of the Paramount Theater, both make for a great evening out!

Don’t worry about parking. Perry’s Steakhouse has valet service right at the front door. [Read more...]

Caffè Medici at 1100 W. Lynn, smack dab in the middle of quaint little historic Clarksville, is a super fab place to get a great cup of java! What a prime Austin location, between 6th Street and Enfield.

What a great day today, to sit outside in the sunshine with a light breeze and drink one of the best Espresso Americano’s I’ve had in a long time. Caffè Medici has a wonderful  espresso with a rich, nutty flavor and was very smooth. This place was hopping with all walks of life, from students to business professionals, when I met up with an old friend today for coffee.

Caffè Medici has a nice selection of coffee drinks for the faint of heart to the die hard coffee connoisseur. Traditional espresso and lattes are on the menu, as well as a nice French Press coffee. This local favorite, takes their passion for coffee seriously with their holistic approach. If coffee doesnít suit your palette, then teas and other beverages are available. If you’re hungry, there is a case full of good things to eat.

Caffè Medici sits among some great Austin favorites such as Jeffrey’s Restaurant, the Galaxy Cafe, and Fresh Plus Grocery Store for starters. The West Lynn location is the original Austin spot for Caffè Medici, however they recently opened another location at  2222B Guadalupe on the UT Campus, an area, better known to most of us as, The Drag.

Caffè Medici is open Monday-Friday 6am-10pm and Saturday-Sunday 6:30am-10pm.

When you’re heading to your downtown office, stop in Caffè Medici and get a few cups to take to your co-workers. Won’t you be the hit at the office? You can always stop in after your morning jog or evening at the theater.

Caffè Medici is on my list of favorites. I am taking my favorite husband by for a cup this weekend and I bet it becomes one of his favorite places for a great cup too!
…..life is short! Live it Venti!

Patti Simon, REALTOR®, ABR, GRI
512-913-4124
www.MyHomeinAustinTexas.com