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Top 25 cities for your career - by WomenCo., on Fri May 8, 2009 12:22pm PDT
by Anna Hennings, Tania Khadder, Alice Handley, Adam StarrNow more than ever, it’s important to get the best bang for your buck. And there’s no question about it — when it comes to value, not every U.S. city is created equally. Why chase a great salary if your rent swallows most of it, unemployment is skyrocketing and you spend two hours a day just to get to and from work? So, which cities offer the most overall value in 2009? WomenCo. has come up with the top 25 — and some may surprise you! After examining various city lists, weighing the rankings and taking note of our personal opinions, we’ve produced a list of cities that’s sure to offer something for everyone.
Our Criteria We looked at cities' growth rates, average salaries and costs of living. We factored in average commute time — which, according to experts, has a colossal impact on your overall happiness. We looked not only at unemployment figures, but also at the rate that unemployment has actually increased since February 2008. Thinking of relocating for better job prospects? Need to compare two top contenders? Just curious to see where your city ranks? We’ve got you covered. Read on!
#25. San Diego, CAPopulation: 1,266,731 Average Salary: $45,210 Cost of Living Rank (in a 1-100 list): 91 Average Commute Time: 23.4 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 208 Unemployment Rate: 8.8 San Diego is a splashy surfers paradise in Southern California. If wealth were measured by sun and sand, San Diego would be the nation’s richest city. Unfortunately, the recession has burned San Diego with a 3.8% increase in unemployment. Still, the city enjoys a mean income of over $45,000 and a top-25 ranking amongst the nation’s best cities for job growth. So grab your board and your resume because San Diego remains a promising place to work and even better place to play. #24. Philadelphia, PAPopulation: 1,449,634 Average Salary: $44,460 Cost of Living Rank (in a 1-100 list): 59 Average Commute Time: 29.4 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 176 Unemployment Rate: 8.0 The "City of Brotherly Love" — and the largest city on our list — has experienced a modest 3.1% uptick in unemployment, but has maintained an unemployment rate much lower than that of comparable cities. A mecca for tourists and American history buffs, Philadelphia also promotes itself as a center for biomedical and pharmaceutical companies. In recent years, education and health sectors have emerged as principal drivers of the local economy, helping the city stay in our top 25.
Bonus fun fact: The lemon meringue pie was invented in Philadelphia. #23. Cincinnati, OHPopulation: 332,458 Average Salary: $40,540 Cost of Living Rank (in a 1-100 list): 14 Average Commute Time: 21 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 207 Unemployment Rate: 8.9 Procter & Gamble, Sunny Delight, and Chiquita Brands International are amongst the impressive list of 10 Fortune 100 companies based in the this all-American, river-front city. Its unemployment rate has not grown as much as other former industrial cities, gaining only 3.6 % since before the economy collapsed. With solid job growth potential, Cincinnati's big Fortune 100 companies are slowly pulling the city back into a positive economic reality.
#22. Louisville, KYPopulation: 256,231
Average Salary: $37,410
Cost of Living Rank (in a 1-100 list): 16
Average Commute Time: 21.5 minutes
Job Growth Rank (in a list of 372 Highest Growth Cities): 204
Unemployment Rate: 10 Louisville is a charming southern belle of a city with a derby full of galloping job opportunities. Ranked at #16 for cost of living, Louisville offers country charm and city amenities. The job growth is pacing around the national average, and the unemployment rate has gone up a reasonable 4.2% since the recession began. Bonus fun fact: 90% of the United States’ disco balls are produced in Louisville.
#21. Hartford, CTPopulation: 124,563 Average Salary: $48,650
Cost of Living Rank (in a 1-100 list): 74
Average Commute Time: 33.2 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 199
Unemployment Rate: 8 Nicknamed the "Insurance Capital of the World," Hartford is home to some of the world’s largest insurance company headquarters. It also boasts some of our nation’s oldest institutions — the oldest art museum, park and continuously published newspaper all hail from Hartford. With a high average salary and a relatively low cost of living, it’s no wonder this picturesque city made our cut.
Bonus fun fact: Nitrous oxide (laughing gas) was discovered in Hartford. #20. St. Louis, MOPopulation: 354,361 Average Salary: $40,630 Cost of Living Rank (in a 1-100 list): 23 Average Commute Time: 21.5 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 179 Unemployment Rate: 9.2 Known as the city that marks the divide between the Eastern and Western United States, St. Louis is often called the "Gateway City." It’s home to some of our nation’s largest public and privately held corporations —Enterprise Rent-A-Car, Scottrade, Energizer and Anheuser-Busch Breweries are just a few of its best known local companies. And it didn’t just make our own short list of great cities — this charming city ranks among the whole world’s top 100 cities in terms of quality of life.
Bonus fun fact: The ice cream cone was invented in St. Louis. #19. Indianapolis, INPopulation: 795,458 Average Salary: $39,840 Cost of Living Rank (in a 1-100 list): 12 Average Commute Time: 21.7 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 197 Unemployment Rate: 8.2 Formerly a manufacturing-heavy city, Indianapolis has shifted to encompass a much more diversified economy – today, its key industries include education, healthcare, tourism and finance. And if you love sports, Indianapolis may just be the place for you. The city hosts several major sporting events, including the Indianapolis 500, Brickyard 400 and men’s and women’s NCAA championships. It is also the fourth largest city on this list – below Philadelphia, San Antonio, and San Diego. Bonus fun fact: Indianapolis has the largest children’s museum in the world. #18. Columbus, OHPopulation: 747,755 Average Salary: $40,770 Cost of Living Rank (in a 1-100 list): 17 Average Commute Time: 20 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 178 Unemployment Rate: 7.9 Named after Christopher Columbus, the largest city in Ohio is also one of the largest cities on our list. The city boasts a robust economy, ranking in the top 10 in the nation. Government jobs provide the largest source of employment here, followed by its large higher education institutions. Columbus offers a relatively low cost of living and also boasts the lowest unemployment rate of all the 25 best value cities on this list. Bonus fun fact: 50% of the United States population lives within a 500-mile radius of Columbus. #17. Buffalo, NYPopulation: 272,632 Average Salary: $38,640 Cost of Living Rank (in a 1-100 list): 1 Average Commute Time: 19.4 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 174 Unemployment Rate: 9.6 Known for an abundance of greenery, a historic waterfront and a diverse cuisine, Buffalo has a lot to offer in terms of overall value. New York’s second largest city topped the list for cost-of-living per income ratio, and boasts one of the lowest average commute times in the nation. Unfortunately, this city also has one of highest unemployment rates on the list, so this year it ranks in the bottom half. Bonus fun fact: Not surprisingly, buffalo wings were invented here! #16. Boston, MAPopulation: 599,351 Average Salary: $51,730 Cost of Living Rank (in a 1-100 list): 80 Average Commute Time: 27.3 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 118 Unemployment Rate: 7.4 The unofficial "Capital of New England" is home to 21 four-year colleges and universities, making it a national center for higher education. These schools add to the local economy, not just by creating jobs but by attracting loads of high tech industries to the city. And at an average salary of $51,730, Boston boasts one of the highest incomes on our list. Living costs, however, are on the higher side, which pushes this iconic city farther down the list.
Bonus fun fact: The first telephone call was made in Boston. #15. Charlotte, NCPopulation: 671,588 Average Salary: $41,200 Cost of Living Rank (in a 1-100 list): 36 Average Commute Time: 25.2 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 125 Unemployment Rate: 11.7 Home to the nation’s largest financial asset – Bank of America – as well as a number of Fortune 500 companies, this comfortable North Carolina city offers a solid salary to cost of living ratio. However, this has also left it more vulnerable to the economic downturn. It would have scored higher on our list, were it not for the drastic increase in unemployment since last year (up 6%).
Bonus fun fact: Charlotte has two nuclear power plants! #14. Pittsburgh, PAPopulation: 311,218 Average Salary: $38,190 Cost of Living Rank (in a 1-100 list): 9 Average Commute Time: 21.2 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 169 Unemployment Rate: 7.6 With its former steel-manufacturing base and 446 bridges marking its skyline, Pittsburgh is unofficially considered both "The City of Bridges" and "The Steel City." Our #14 pick is historically known for its heavy industry, but today its leading industries are healthcare, education, technology, robotics, fashion and financial services. Boasting the third best income to cost of living ratio and third smallest drop in unemployment rate, Pittsburgh comes WomenCo-approved and recommended!
Bonus fun fact: Beloved TV personality Mr. Rodgers’ real neighborhood was the Oakland section of Pittsburgh. #13. Kansas City, MOPopulation: 450,375 Average Salary: $37,970 Cost of Living Rank (in a 1-100 list): 25 Average Commute Time: 20.7 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 164 Unemployment Rate: 8.4 Kansas City houses the headquarters of four Fortune 500 companies and several more Fortune 1000 corporations, providing a richly diverse economy with significant trade and transportation sectors, government programs and business services. Its cost of living has consistently been at or below the national average, boosting its rating on our list. Not only that, Forbes.com claims “there's a ‘zone of sanity’ across the middle of the country, including the region around Kansas City, Mo., that largely avoided the real estate bubble and the subsequent foreclosure crisis.” Bonus fun fact: The city is well known for its contributions to jazz music as well as the blues. #12. Virginia Beach, VAPopulation: 433,746 Average Salary: $37,550 Cost of Living Rank (in a 1-100 list): 37 Average Commute Time: 21.7 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 160 Unemployment Rate: 7.2 This beachfront city is best known for its thriving tourism, but is also home to 208 city parks, a national wildlife refuge, long-protected beach areas, three military bases, two universities and numerous historic sites. Major employers include Geico car insurance, Amerigroup health care, Virginia Beach-headquartered Lillian Vernon and Navy Exchange Service Command, while a large agribusiness sector gives our #12 city an extra boost, keeping it just in the top half.
Bonus fun fact: The Guinness Book of World Records lists Virginia Beach as having the longest pleasure beach in the world. #11. Nashville, TNPopulation: 590,807 Average Salary: $36,330 Cost of Living Rank (in a 1-100 list): 39 Average Commute Time: 20.7 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 153 Unemployment Rate: 8.4 As a leader in finance and insurance, health care, music and entertainment, publishing, transportation technology, higher education, biotechnology, plastics, and tourism and conventions, the economic diversity of America’s country music capital strengthens itself from the inside out. Its income to cost of living ratio is close to the best, especially given the city’s larger size, while the rise in unemployment has remained decently low.
Bonus fun fact: Nashville once had the highest number of churches per capita. #10. Honolulu, HIPopulation: 588,349 Average Salary: $41,250 Cost of Living Rank (in a 1-100 list): 93 Average Commute Time: 22.3 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 132 Unemployment Rate: 5.4 More than just sun, sand, surf and volcanoes, Hawaii’s capital city boasts the second lowest unemployment rate on our list. The city is heavily focused in government; trade, transportation and utilities; leisure and hospitality; and professional and business services. One-fifth of the land is actually zoned for agriculture and, despite ongoing residential and commercial development, diversified agriculture and aquaculture have seen steady upward trends in recent years.
Bonus fun fact: President Obama was born here. #9. Denver, COPopulation: 588,349 Average Salary: $45,610 Cost of Living Rank (in a 1-100 list): 47 Average Commute Time: 22.6 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 113 Unemployment Rate: 7.9 Emphasizing employment in air transportation, telecommunications, aerospace and manufacturing, Denver is a major energy research center and the regional headquarters for government agencies. Its bustling downtown financial district is also considered the "Wall Street of the Rockies," housing both major national and international banks. And that’s not all — Denver is 346 miles west of the exact geographic center of the country, placing it in a great spot for future economic development and growth.
Bonus fun fact: Denver is the only city ever to turn down the Olympics. #8. Portland, ORPopulation: 550,396 Average Salary: $43,370 Cost of Living Rank (in a 1-100 list): 58 Average Commute Time: 22.4 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 55 Unemployment Rate: 10.7 Historically, Portland has had a long-standing association with high-tech industries. According to City-Data.com, more than 1,200 tech companies currently operate in Portland, and, in 2004, microcomputer components manufacturer Intel was the city’s largest employer. The city has also seen consistent growth in the education and health-services sectors, helping the area maintain its high growth ratings despite significant decreases in employment in the natural resources, mining and construction sectors.
Bonus fun fact: Portland has the largest independent book store in the world. #7. Rochester, NYPopulation: 206,759 Average Salary: $40,660 Cost of Living Rank (in a 1-100 list): 3 Average Commute Time: 19.4 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 137 Unemployment Rate: 8.5 Rochester is home to several Fortune 1000 companies — including the largest wine company in the world, Constellation Brands, and photo experts Eastman Kodak — as well as several national and regional companies. With the second best income to cost of living ratio on our list as well as boasting the lowest commute time, this city is a solid choice. Bonus fun fact: Rochester is known as the world capital of imaging. #6. Seattle, WAPopulation: 594,210 Average Salary: $49,890 Cost of Living Rank (in a 1-100 list): 79 Average Commute Time: 25.7 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 34 Unemployment Rate: 8.7 The home to many prominent corporate headquarters — including those of Starbucks, Nordstrom, Microsoft and Amazon.com — Seattle is Washington state’s largest city and the region’s major economic, cultural and educational center. While the cost of living is a little on the high side, our #6 city has a particularly promising job outlook in alternative energy development and software engineering.
Bonus fun fact: Seattle buys more sunglasses per capita than any city in the US. #5. Raleigh-Cary Metropolitan Area, NCPopulation: 497,602 Average Salary: $40,840 Cost of Living Rank (in a 1-100 list): 46 Average Commute Time: 20.9 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 38 Unemployment Rate: 8.8 One of the nation’s top areas for overall growth, Raleigh-Cary shines with expected job growth in technology, tourism and academia. Home to one of the largest high-technology R&D centers in the world, our #5 pick is becoming a preferred location for cutting-edge technology and manufacturing firms. Its relatively low income to cost of living ratio and potential for growth definitely place it in the top tier. #4. Oklahoma City, OKPopulation: 547,274 Average Salary: $35,970 Cost of Living Rank (in a 1-100 list): 15 Average Commute Time: 18.7 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 44 Unemployment Rate: 5.6 Ranked by Forbes magazine as 2008’s most recession-proof American city, Oklahoma City is still bustling with the prospect of significant job growth. With last year’s up trend in the leisure and hospitality sector as well as employment increases in natural resources, wholesale, mining and construction, Oklahoma’s capital city has managed to hold steady with an impressively low change in unemployment rate since the recession’s outbreak. Our #4 pick remains a center for government and energy exploration while also continuing to foster positive working environments, boasting an exceptionally low average commute time for workers and a sensible income to cost of living ratio. #3. Salt Lake City, UTPopulation: 180,651 Average Salary: $39,590 Cost of Living Rank (in a 1-100 list): 41 Average Commute Time: 23.4 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 36 Unemployment Rate: 5.2 Service-oriented Salt Lake City is not only home to the headquarters of the Mormon Church but is also the nation’s largest industrial banking center. With stimulus from seasonal outdoor recreation tourism and a recent rebound in information-sector jobs, Salt Lake City has high expectations for job growth both now and after the economy recovers. Offering better employment conditions than most other large cities, Utah’s biggest city boasts the lowest unemployment rate and the second lowest average commute time on our list — boosting it right near the top. #2. San Antonio, TX:Population: 1,328,984 Average Salary: $34,610 Cost of Living Rank (in a 1-100 list): 29 Average Commute Time: 22.5 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 20 Unemployment Rate: 6.0 The second largest city in Texas (and on our list!), San Antonio has one of the most solid salary to cost of living ratios in the country and has seen the lowest change in unemployment rate since the onset of the recession. Its projected job growth is extremely promising and consistently high-performing, with plenty of opportunity in the education, health care, manufacturing, government and service sectors. Famous for its River Walk, the Alamo and Tejano culture, San Antonio’s tourism also continues to thrive despite a down economy. #1. Austin, TXPopulation: 743,074 Average Salary: $41,330 Cost of Living Rank (in a 1-100 list): 51 Average Commute Time: 21.9 minutes Job Growth Rank (in a list of 372 Highest Growth Cities): 6 Unemployment Rate: 6.3 Austin tops our list with robust projected job growth and one of the lowest changes in unemployment rate since the onset of the recession. The city has enjoyed a recent explosion of high-tech entrepreneurism, and its two largest employers — the state government and the University of Texas — are expected to add a couple thousand jobs this year. A “best cities” list veteran, Austin’s our top pick!
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Best Places For Business And Careers#8 Austin TX (03.25.09) Walter Bibikow/Getty Images
| Rank | Colleges 1 | 38 | Cost of Doing Business 2 | 143 | Cost of Living 3 | 127 | Crime Rate 4 | 130 | Culture and Leisure 5 | 118 | Educational Attainment 6 | 14 | Income Growth* | 72 | Job Growth* | 8 | Job Growth Projected 7 | 5 | Net Migration* | 11 | Subprime Mortgages 8 | 13 | | Education | College Attainment 6 | 36.3% | High School Attainment | 85.0% | Income | Median Household Income | $57,288 | Income Growth* | 3.4% | Employment | Job Growth* | 3.5% | Job Growth Projected 7 | 2.3% | Unemployment (2008) | 4.2% | Housing | Subprime Mortgages 8 | 12.6% | Median Home Price | $188,300 |
Metro Area Population: 1,645,000
Billionaires: John Paul DeJoria, Michael Dell
Best Big Companies: None
Best Small Companies: American Physicians Service Group
#30 on Top 30 Most-Wired American Cities 2009
#14 on Best Citites for Singles 2008
See Also:
Texas Metros Here’s the link to the above article: http://www.forbes.com/lists/2009/1/bizplaces09_Austin-TX_2384.html?partner=email --------------------------------------------------------------------------------AND------------------------------------------------------------------------------------------------------ FEBRUARY EXISTING HOME SALES, PRICES DECLINE TEXAS (Real Estate Center, Reuters, CNN Money) – A total of 13,312 existing homes were sold in Texas last month, a 25.4 percent decline from February 2008, according to MLS data compiled by the Real Estate Center at Texas A&M University. The median price dropped 2.9 percent to $138,300 during the same period, and the state finished the month with a 6.7-month inventory of existing homes. Here is how select Texas cities fared in February (data current as of March 31, 2009): | Sales | Change from
Last Year | Median
Price | Change from
Last Year | Months'
Inventory | Amarillo | 179 | down 34.7% | $118,800 | down 3.2% | 6.1 | Austin | 1,196 | down 29.9% | $187,900 | up 4.2% | 6.1 | Beaumont | 139 | down 9.2% | $132,800 | up 10.1% | 7.4 | Bryan–College Station | 91 | down 25.4% | $139,500 | up 7.6% | 5.9 | Corpus Christi | 235 | down 17.3% | $133,800 | down 2.1% | 9.3 | Dallas | 2,916 | down 24.6% | $145,900 | down 1% | 6.3 | El Paso | 326 | down 0.6% | $130,900 | down 2.2% | 11.4 | Fort Worth | 491 | down 35.8% | $107,000 | down 7.5% | 6.2 | Houston | 3,762 | down 25.3% | $138,100 | down 8.5% | 6.1 | Laredo | 57 | down 16.2% | $121,400 | down 8% | 9.1 | Longview-Marshall | 132 | down 21.9% | $118,800 | up 3.7% | 7.2 | Lubbock | 199 | down 10.4% | $112,600 | up 11.2% | 5.7 | San Antonio | 1,124 | down 27.3% | $143,300 | up 0.2% | 8.2 | Texarkana | 53 | down 18.5% | $107,100 | up 13.7% | 7.6 | Tyler | 178 | down 15.6% | $136,000 | up 4.1% | 10.6 | Waco | 135 | down 14% | $101,100 | down 8.1% | 7.7 |
Additional home sales data for these and other major Texas cities are available on the Center’s website. Nationally, sales of existing single-family homes last month were down 4.6 percent compared with February 2008, according to the National Association of Realtors. Sales were at a 4.72 million annual rate. At $165,400, the median sales price was down 15.5 percent from a year earlier. Inventory was at 9.7 months. Meanwhile, the U.S. Census Bureau reported that new home sales rose 4.7 percent to a seasonally adjusted annual rate of 337,000 in February from a revised 322,000 in January. While February purchases were up from January's record low, the sales rate was still down more than 41 percent from February 2008, when sales were an estimated 572,000. The report also showed that the median sales price of new houses sold in February was $200,900, down 18 percent from $245,300 a year ago. TEXAS COUNTIES ON THE GROW TEXAS (Austin Business Journal) – An analysis of the most recent U.S. Census report found that ten Texas counties were among the top 25 fastest-growing counties in the country between July 2007 and July 2008. That put Texas ahead of every other state, including California, which had six counties in the top 25, and Arizona and North Carolina, which had two counties each. The analysis was conducted by the Capital Area Council of Governments. Texas counties that made the top 25 were Harris (No. 2), Tarrant (5), Bexar (10), Collin (12), Dallas (13), Travis (14), Fort Bend (18), Denton (21), Williamson (23) and Hidalgo (24). -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Real Estate Center Online News March 31, 2009 Copyright 2009. All rights reserved. Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source.
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Hope you are enjoying 2009 so far. There have been some exciting things going on in the Austin real estate market. Prices are remaining steady, and home purchases are on the rise. Interest rates have dropped, so there has been a rush to refinance lately. For qualified home buyers, it is now the time to buy. If you qualify for an FHA loan, you can still buy a home with a 3.5% down payment. If you or someone you know is looking to purchase their 1st home this year, they will receive an $8,000 tax rebate from the government. You must buy it before November 2009. You do not have to pay this money back. It's a very exciting time! Attached is the March Real Estate Statistics -Austin, Tx. Enjoy! Crystal Kilpatrick Homes ATX, Realtor 512-680-5835
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Although this panic seems like it will never end, keep these dates in
mind and what it felt like:
1974 - The Dow was down 46%. President Nixon was forced to resign. We
were on the brink of being defeated in Vietnam. We were in the worst
recession since the Great Depression. It seemed like the end of the
world - but from December 1974 to September 1976 the market rose over
80%.
1982 - There was double digit inflation, 20% interest rates, a
horrendous recession, unemployment above 10% and a soaring deficit.
Business Week declared "The End of Equities", but our innovative
spirit
took over. We went from one of the least productive countries to the
leader in productivity enhancement. From August 1982 to October 1987,
the S&P 500 rose 230%.
1990 - The Savings & Loan debacle shook the banking system to its core.
The entire financial system was on the brink of disaster, but the U.S.
innovated and responded. From November 1990 to July 1998, the market was
up over 300%.
2002 - With the 9/11 attacks still fresh in our memory, corporate fraud
rocked Wall Street. Enron, Worldcom and Arthur Andersen were indicted
for fraud. All earnings, the foundation of stock market valuations, were
in question. We addressed the problems head on, innovated and from
October 2002 to November 2007, the market was up over 100%.
We live in the greatest country in the world and crises tend to force
innovation and bring out the best in us. In my opinion, we are
witnessing the first true transformation into a global financial
society. We will innovate and emerge stronger. We always have.
"It is said an Eastern monarch once charged his wise men to invent him a
sentence, to be ever in view, and which should be true and appropriate
in all times and situations. They presented him the words: 'And this,
too, shall pass.' How much it expresses! How chastening in the hour of
pride! How consoling in the depths of affliction!" --- Abraham Lincoln,
1859
These words of wisdom were sent to me by a friend:
Our depths of affliction will end,
Mike
Michael J. Krach, Jr., CFA
Chief Investment Officer
Executive Vice President
Amegy Bank N.A.
4400 Post Oak Parkway
Houston, TX 77027
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Best and Worst Bang for the Buck Cities Abha Bhattarai, Forbes.com Oct 10th, 2008 The economic storm sweeping the country has left Americans with few places to hide.
But those looking to hunker down might want to head to Texas, where they can get the best value for their dollar. That's because Austin and San Antonio lead our list of places where your money goes farthest. Residents of both enjoy affordable housing and promising prospects for job growth in coming years. Houston and Dallas also land in the top 10, at Nos. 4 and 7, respectively. "Texas, as a whole, is one of the few economies that's performing extremely well because of the energy and technology sectors," says Andrew Gledhill, an economist at Moody's Economy.com. Plus, he added, military bases in San Antonio have continued to draw a steady steam of personnel and federal employees to the city, spurring widespread job growth. The state's manufacturing sector has also grown in recent years, and a reputation for affordable housing continues to lure people to the South. When accounting for median household income, a house in Dallas, for example--with a median price of about $150,000--is four times more affordable than a house in Los Angeles, the worst-ranked city on our list. A house in New York is three times less affordable than in Charlotte, N.C., and four times less than in Denver, two cities where your money goes far and where the median house costs $245,000, according to the National Association of Realtors. Housing has remained affordable in the South and Midwest, thanks to growing populations, relatively lax building regulations and "lots and lots of land," said Daniel McCue, a research analyst at Harvard's Joint Center for Housing Studies. Plus, he added, housing in cities like Houston "grew at a more controlled pace and didn't go overboard like in Phoenix or Las Vegas," which means houses won't lose much value in coming months. Three Midwestern cities round out the top 10: Indianapolis; Columbus, Ohio; and Minneapolis. The worst-ranked cities, after Los Angeles, were Providence, R.I.; New Orleans; Philadelphia; and Cleveland. Behind the Numbers To ensure that our list reflected future value instead of past bargains, we began by looking at projected job growth through 2012 in the 40 largest U.S.-Census-defined metropolitan areas of the country with data from Moody's Economy.com. Texan cities were a clear winner, with economists predicting job growth of at least 2% by 2012 in Austin, San Antonio, Dallas and Houston. By comparison, job growth in cities at the bottom of our list, including Los Angeles, Philadelphia and Cleveland, is expected to be about 0.2%. We then calculated the ratios between each city's median house price and median household income, using 2000 U.S. Census figures, the latest available, and 2007 data from the National Association of Realtors. Next, we compared median income to Moody's cost of living index. Final factors included the average gas price in each city on a given day in October as collected by AAA, and year-over-year inflation growth as calculated by Moody's and Forbes.com. Top Spots The factors that make the cities on our list valuable--affordable housing, relatively low gas prices, sluggish inflation, a job market that's more vibrant than most--are more than an indication of cheap deals. Instead, they give us a glimpse of the cities that are likely to offer value. Cities like Detroit (which didn't make it to our list) are cheap, but low-income figures and a fading job market won't do much for sustaining worth. The cities where you'll get the least value include areas like Los Angeles, New York and Washington, D.C., where median house prices are more than $400,000 and relatively few people can afford them. Cities like Providence, R.I., and Philadelphia are suffering from large waves of out-migration as more and more residents decide to pick up and leave. As a result, local economies stagnate, and prospects for job growth seem bleak--economists predict the number of jobs in Philadelphia will grow by 0.2% by 2012 and by 0.1% in Providence. But, economists say, no state has been as hard hit as California. "California is being faced with a combination of a zillion things--the state's been in a prolonged recession, and at the same time, you have some of the least affordable housing in the country," says Gledhill. "We'll probably start seeing a bottom in the housing market late next year, but it'll be a while until we see a real recovery." Los Angeles' misfortunes, however, have helped boost the economy in cities like Portland, Ore. It and Seattle have become attractive alternatives for those looking to leave California in search of affordable housing and lower costs of living. The value of a dollar in different cities is also closely linked to local inflation rates. In Austin, for example, year-over-year inflation rates rose by 5%, while in Portland, that figure was nearly 5.7%. Local inflation rates ranged from 3.2% in St. Louis (No. 8 on the worst list) to 5.82% in Dallas (No. 7 on the best list). But keep in mind, even cities that ranked well on our list aren't immune from the forces of today's downturn. Gledhill says economic growth in Portland, which has already begun to slow, will be compounded further by California's slowdown. Things won't be much better in Columbus, according to Bodhi Ganguli, an economist at Moody's. So far, the city has weathered the storm better than its local counterparts. But he said, "an extremely high foreclosure rate" and bleak expectations for job growth will begin to take their toll on the city's economy. Things may turn for those in Charlotte, which has fared relatively well so far. That's because housing prices never reached exorbitant highs, which shielded the city from a major housing bust. But as the Charlotte-based Wachovia gets swallowed by Wells Fargo, Gledhill says, "a more measured deterioration is on its way."
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Hi Crystal, Great question you asked about the stability of the market. The news media has a tendency to sensationalize the facts of the current market to their liking. Remember, their job is to sell newspapers so the more hyped a story the more papers they sell. Now, there are “some” truths to what they are saying. Here is an up to the minute update on the market and what is going on. In a bid to ease the credit crunch and restore a sense of calm in the financial markets, the Federal Reserve authorized a $180 billion expansion of its swap line with other world central banks. The funds, which will be provided by the Federal Reserve, can be injected into money markets through overnight and term loans. Stocks like this news so far and this is putting pressure on Bonds/Mortgage rates. Something to think about – The Fed is attempting to be savvy and creative in its ways to help the financial system get back on track. However, there is simply no one who can draw upon past experience to find the answer here. This situation is historic… and we are living through it. There is a lot of panic out there. People are very worried about their life savings. Is money in the bank safe? How about if it is in a life insurance policy? How about in bonds? Unfortunately the answer is no, no, no. Yesterday, the panic reached a level that caused such a demand on Treasuries, that the total return of some short-term paper went negative. That’s right… the premium paid was higher than the return provided by the yield. So keeping your cash under the mattress is better than an investment in some Treasuries, and apparently safer than the financial market. Suddenly, guess what may become the most attractive way to protect your money? Think about it… you can touch it, get a tax break and live in it too. Yes, Real Estate is starting to look pretty good, especially since it has become more reasonably prices. Prices are down nationally and rates are still low at 6.0% compared to the last 85 year average of 7.5%. So, should you buy or wait to see what happens? That is the question most buyers are asking. Buying low and selling high is how the wealthy keep getting wealthy. My advice to anyone looking to buy… Buy now before the market starts to turn… and it will turn… For additional information please call me at 512.637.9119 to bounce any ideas off me or continue with market conditions. Sincerely, · · · · · · · · · · · · · · · · · · Dominik Kilpatrick Team Coordinator - The Kenton Brown Team Sente Mortgage 901 S. Mopac, Building IV, Suite 125 Austin, TX 78746 t 512.637.9900 d 512.637.9119 f 512.637.9901 dominik.kilpatrick@SenteMortgage.com · · · · · · · · · · · · · · · · · · ·
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Where Homes Are Selling Fastest
Houses in Sunnyvale, Calif., home to companies such as Juniper Network, AMD, and Yahoo!, are typically on the market for 66 days, making it the fastest-selling real estate market in the country. That's the good news. The bad news is that listings a year ago in the affluent Silicon Valley suburb normally sold after just 31 days on the market. Even in the fastest-selling Zip Codes in the country, that trend is repeated over and over again. Nothing is selling as fast as it once did as buyers hold off, waiting for prices to drop even more. In some areas the median days on the market have extended beyond weeks into several months. In fact, after searching the nation for communities where homes were selling the fastest, it became clear that not a single Zip Code has eluded the housing slump. But some places are doing better than others. A lot better. After Sunnyvale, Austin, Tex., another high-tech center, comes in second at 68 days. The third-fastest-selling Zip is the Scripps Ranch neighborhood of San Diego, a wealthy inland market where listings were typically 70 days old, a span that would have been unthinkable during the real estate boom. Worst-Hit Housing Market Yet these seem positively alacritous in comparison with Miami, one of the nation's worst-hit housing markets, where typical listings are close to a sluggish six months, according to Altos Research, the Mountain View (Calif.) firm that helped us come up with our list of the fastest-selling markets in the U.S. "It was remarkable that it was so difficult to find markets moving very quickly at all," said Altos Research CEO Michael Simonsen said. "These are, in general, some of the healthier markets in their area. At least, there is some consistent demand. Although, in historical terms, it's still light." Even the best areas are a long way from the peak of the real estate market in 2005, when buyers had to act fast because homes were typically snatched up in four weeks, according to the National Association of Realtors. Listings in the fastest-selling markets are also taking much longer to sell than they did a year ago when the credit market was just beginning to tighten. In Sunnyvale, for example, the days on the market for a typical listing increased by 47% during the past 12 months. "Lenders have gotten more conservative after years of loose lending," said Irvine (Calif.) real estate consultant John Burns. "This shouldn't be surprising -- every single market in the country has been negatively impacted." Hurting Neighborhoods Middle-income neighborhoods are suffering the most, said Ken Gold, director of the Ohio State University Fisher College of Business Center for Real Estate Education & Research. Sellers of expensive homes can find buyers because the wealthy aren't affected as much by the credit squeeze. And first-time home buyers are finding bargains as home prices slide. Gold said the places where homes are selling the fastest are established, affluent communities close to jobs, restaurants, stores, and services. These days, buyers don't want to live far from job centers, especially in an uncertain economy, he said. "Mature areas, which have higher incomes and higher-priced homes are as good as gold," he said. Gold might have a point. The communities on our list were relatively wealthy and close to jobs -- neighborhoods such as the Circle C master-planned community in southwest Austin; Scripps Ranch in San Diego, 77094, one of Houston's wealthiest Zips on the city's western edge; and Venice, Calif., where the median asking price for a home is $1.399 million. Robust Texas Zips The communities were also in areas with relatively strong economies. With the Texas economy is booming thanks to high energy prices, three Texas Zips made the list: Houston, Austin, and Plano. Other cities with relatively strong economies also ranked high, including Portland, Ore., Seattle, and Salt Lake City. An exception is San Diego, which has seen job losses increase and the economy weaken largely because of the housing crisis. That has damaged housing-related businesses and consumer spending. Kevin Wunderly, a Realtor with Avalar San Diego, said he isn't surprised the Scripps Ranch Zip made the list. Sales have slowed in the past year because of tight credit. But the number of homes on the market isn't large and hasn't grown much. Homeowners in the affluent neighborhood don't feel as much pressure to sell as homeowners in poorer, foreclosure-heavy neighborhoods because they have the means to ride out the downturn, he said. "A lot of people are waiting on the sidelines." Jay Carter, a Realtor with Livinginaustin.com, said the 78749 Zip Code in southwest Austin is one of the hottest he has seen. It's a high-end neighborhood surrounded by scenic hills, but it's just a 5- or 10-minute drive to downtown. "Sellers are not having nearly the heartburn that you're seeing in a lot of areas of the country," Carter said. "They consider themselves very fortunate." The 10 Fastest-Selling Housing Markets in the U.S. 1. Sunnyvale, Calif. 94087
Days on the Market (DOM): 66 days
Median Price: $1.031 million
Annual Asking Price Change: -0.4%
Annual DOM Change: 46.6% 2. Austin, Tex. 78749
Days on the Market (DOM): 68 days
Median Price: $250,693
Annual Asking Price Change: -0.9%
Annual DOM Change: 19.0% 3. San Diego, Calif. 92131
Days on the Market (DOM): 70 days
Median Price: $771,025
Annual Asking Price Change: -9.7%
Annual DOM Change: 14.7% 
WIKIMEDIA.ORG | Plano, Tex. 75075 |
4. Plano, Tex. 75075
Days on the Market (DOM): 75 days
Median Price: $185,589
Annual Asking Price Change: -2.8%
Annual DOM Change: 9.9% 5. Portland, Ore. 97202
Days on the Market (DOM): 77 days
Median Price: $395,877
Annual Asking Price Change: -1.1%
Annual DOM Change: 27.7% 6. Houston, Tex. 77094
Days on the Market (DOM): 77 days
Median Price: $351,803
Annual Asking Price Change: 6.7%
Annual DOM Change: 13.7% 
WIKIMEDIA.ORG | Wakefield, Mass. 01880 |
7. Wakefield, Mass. 01880
Days on the Market (DOM): 79 days
Median Price: $429,485
Annual Asking Price Change: -7.3%
Annual DOM Change: 3.7% 8. Seattle, Wash. 98117
Days on the Market (DOM): 86 days
Median Price: $535,020
Annual Asking Price Change: -0.9%
Annual DOM Change: 34.2% 
GETTY IMAGES | Atlanta, Ga. 30340 |
9. Littleton, Colo. 80130
Days on the Market (DOM): 90 days
Median Price: $378,420
Annual Asking Price Change: 6.6%
Annual DOM Change: 79.9% 10. Atlanta, Ga. 30340
Days on the Market (DOM): 91 days
Median Price: $217,285
Annual Asking Price Change: 5.5%
Annual DOM Change: 21.9% View a slideshow
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Best Cities To Buy A Home By Maurna Desmond, Forbes.com Jul 22nd, 2008 Houston, we don't have a housing problem. The city's $152,500 median home sale price is up 6.6% from 2005. It boasts a low vacancy rate and an oil-rich economy. Throw in a bubbling entrepreneurial tech scene, and you've got four factors that put Houston on the top of our list of best places to buy a home. San Francisco, Charlotte, N.C., Jacksonville, Fla., and St. Louis, Mo., are other areas buyers can feel safe investing in. We examined the country's 40 largest metropolitan areas and looked at cities where home prices have appreciated over the last two years. We also measured tightening vacancy rates. These metrics indicate places where buyers are investing in homes in order to live, not just make a quick buck, and where the housing market is relatively solid. We culled our vacancy and home price information from the U.S. Census Bureau and the National Association of Realtors. 10 Best Cities to Buy a Home: See the Whole List Now 
The average vacancy rate across the major metro areas was 2.88%, and the average percent appreciation was just .07% over the last two years. With lending tight, we also factored in the spread between a monthly rent check and a mortgage payment at the median level (assuming that the down payment was 10% and the fixed interest rate is 6.25%). Encino, Calif.-based real estate brokerage firm Marcus & Millichap provided stats on median monthly rents. Cities where a mortgage payment was close to, or less than, the average rent were given a higher score. For instance, in Cleveland the average rent is $702, and the average mortgage is $565.78. With a lower monthly payment, tax incentives and the opportunity to build equity, it makes sense to buy here. In stark contrast, San Jose, Calif., has an average monthly mortgage payment of $4,322.33, versus an average rent of $1,612. Lots To Like In The Lone-Star StateTexas dominated our lineup of mortgage-worthy areas. Thanks to a business-friendly tax environment, many large corporations call the Lone Star State home, which creates jobs and tax revenue. The University of Texas campus provides young blood and research-related jobs to No. 2 city Austin. This state capitol is a hip area on the rise. The vacancy rate has fallen by 37.5% in the last 24 months to just 1.5%, despite a lot of building in recent years. And buying isn't much more expensive than renting. An average mortgage payment is $1,022.40, and average rent hits $767. San Antonio, No. 5, and Dallas, No. 6, made the list thanks to affordable housing, which continues to appreciate. In both cities, the median home price hovers around $150,000, and a monthly mortgage payment of around $800 is pretty close to what one pays in rent. If you can pony up the down payment, these are great areas to live. Coast-to-Coast Sweet SpotsPhiladelphia landed at No. 4, with homes appreciating by 9.1% in the last two years and vacancy rates staying low at 1.9%. This university town, which plays host to the University of Pennsylvania, certainly has its charm. A city on the rise with a tempting cost of living, Philly is a great place to buy a new home. The South made a nice showing with Charlotte, N.C., Jacksonville, Fla., and Atlanta, Ga., making our list. Charlotte and Jacksonville have surged in price by 12.9% and 8%, respectively. Atlanta has seen huge amounts of growth and remains reasonable with a median home price of $172,000. San Francisco, this year's best city for young professionals, came in at a respectable No. 8. While housing certainly isn't cheap in the City by the Bay, it is definitely in demand and continues to appreciate. For a buyer, San Francisco offers a culturally rich and beautiful city that is chock full of opportunity. 10 Best Cities to Buy a Home: See the Whole List Now
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In the hustle & bustle of our daily lives we need to stop and appreciate the beautiful city we live, work & play in. 
West Fifth Street development transforming a gateway into downtown By Shonda Novak
AMERICAN-STATESMAN STAFF
Sunday, July 20, 2008 West Fifth Street, one of the main gateways into downtown Austin, is undergoing a revival. Not that many years ago, the stretch of West Fifth between MoPac (Loop 1) and Lamar boulevards was filled mostly with car lots, warehouses and a handful of restaurants. By the end of next year, it will have more than 300 apartments, new stores and the first office project in the downtown area since the Frost Bank Tower opened in 2004. The street's funkier landmarks, including the Mean-Eyed Cat bar, will remain. Other longtime businesses are getting makeovers, including Castle Hill Cafe, which will reopen soon as Corazon, with an interior Mexican menu. Before Whole Foods Market opened its flagship store at Lamar and Sixth Street, there wasn't much energy on the western edge of downtown. But the store has been a catalyst for development nearby. And the activity on West Fifth is a natural extension of the changes going on downtown, where high-rise apartment and condo towers are filling the skyline. "Fifth Street is really the last opportunity for commercial development on a major roadway into downtown. It's very, very valuable because there's just a finite amount of it left, and people figured it out," said developer Perry Lorenz, a co-owner of Castle Hill and the restaurant that will succeed it. "Everybody that works in those big buildings downtown drives right down West Fifth every day on the way to work," he said. His assertion is bolstered by figures from the Weitzman Group, a commercial real estate brokerage, which show that as many as 48,000 cars empty from MoPac onto West Fifth each day between 7 and 9 a.m. That visibility is invaluable for retailers, who are gravitating to the area because they can capture potential customers not only from downtown, but also from workers who drive in each day from North and South Austin and the more affluent western suburbs. Michele Gary, vice president of Weitzman's retail division in Austin, said she already has lined up tenants for more than half of the retail space in the 5th Street Commons. Gables Residential is building the project, with 150 apartments and 38,000 square feet of retail space, at West Fifth and Campbell streets. "The interest has really been high," she said of the project, which is scheduled to open in December. And the prime location is allowing developers to get base rents of $32 a square foot — close to downtown levels. Studio apartments will start at $1,300 a month and two-bedroom units at $1,850, said Jennifer Wiebrand, a development associate with Atlanta-based Gables Residential. A short distance away, on the north side of West Fifth, Gables and Capital City Partners are building a project called Pressler. It will have 168 apartments and 25,000 square feet of retail space, said Joe Lamy, principal with Capital City. It will open in March with apartment rents comparable to those at 5th Street Commons, Wiebrand said. Lamy said the changes along West Fifth are "just the next logical step in Austin's growth. Austin's growing, and it had to grow in all the other areas before this became the next." Capital City Partners is joining with Sage Land Co., owned by Lamy's father, Pete, to build Capstar at Compass Plaza, an office building at the western end of Fifth Street. It will be across the street from Hartland Plaza, which Sage bought in the early 1990s, and connected by the bridge that now crosses above Fifth Street. The new building, 115,000 square feet and eight stories, was permitted in the 1980s, exempting it from later limits on building heights. More than 90 percent is pre-leased to tenants, including several companies owned by Austin entrepreneur Steve Hicks. They include Capstar Investment Partners LP, digital music company DMX Inc., Harden Healthcare and Girling Healthcare. At West Fifth and Lamar, Schlosser Development Corp. plans an office and retail project that will include West Elm, a contemporary furniture and home accessories store. The 12,000-square-foot store is scheduled to open next summer. Brad Schlosser said more tenant announcements are expected soon. His company, which owns four blocks in the area, has been the principal player in development at downtown's western edge. Cathe Dailey, co-owner of Castle Hill, has seen the changing of West Fifth firsthand. Castle Hill was at 11th Street and Lamar for five years before moving in into a larger location at West Fifth and Baylor Street in 1991. At that time, the location "was considered the edge of downtown, kind of a dead zone, a no man's land surrounded by car lots," Dailey recalls. But the site came with 70 parking spaces, a prize for a restaurant. "Certainly, I thought that eventually downtown would move in our direction," she said. Dailey said Whole Foods has been a huge catalyst in the transformation of downtown's western edge. "Whole Foods is like the epicenter, and we're in their orbit," she said. "If we don't capitalize on that, we're missing the mark." Dailey said that although Castle Hill was perceived to be a good bargain, Corazon's more affordable menu and casual dining atmosphere will be more appealing to downtown's growing residential population, The Mean-Eyed Cat, housed in a century-old building, will be overshadowed by its new neighbor, 5th Street Commons. Gables acquired the bar site along with the site of its new project. Bar owner Chris Marsh said he knew development would eventually come his way and credits Gables for being willing to preserve his business as part of its plans. "I think they were sensitive from the beginning about how to keep me open and how I was to be incorporated into their plans," he said. Marsh said he hopes the development along West Fifth will benefit the longtime businesses, such as the El Arroyo restaurant and Donn's Depot bar across the street. "I think it will be a good mix," he said. Lorenz said the Tips Iron & Steel Co., just south of Castle Hill, remains one of the most interesting development opportunities in the West Fifth area. In 2003, Tips President Steve Wimberly envisioned a preliminary long-range development plan for the 5.3-acre site that, under one scenario, was to include up to half a million square feet of locally owned shops, restaurants and businesses, and possibly a hotel. Nothing materialized, and Wimberly did not return several calls for this article. Lorenz has called the Tips site "a diamond in the rough." With views of Lady Bird Lake, he said, many developers "have made a run at it," but no deals have been struck. Lorenz thinks the site would be prime for an upscale mixed-use project similar to the Domain in North Austin. Ultimately, Dailey foresees the West Fifth strip shaping up to become a "self-sufficient living space" with an "inner-city village feel," with people walking about, or on their bikes or scooters, connecting with their urban world. Said Dailey: "We're not destroying a neighborhood — we're creating a neighborhood." snovak@statesman.com; 445-3856 Have A Wonderful Day!
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Best Cities to Live, Work and PlayThese ten great places will only get better. Our approach this year to picking the ten best cities in which to live and work was simple: Look for places with strong economies and abundant jobs, then demand reasonable living costs and plenty of fun things to do. When we ran the numbers, some of the names that popped up made us do a double take at first. So we hit the road to meet movers, shakers and regular folks, experience the ambience and take in the sights. We discovered that our numbers guru, Kevin Stolarick, hadn't steered us wrong. Stolarick, research director at the Martin Prosperity Institute, a think tank that studies economic prosperity, says: "Our formula highlights cities not just with strong past performance, but also with all the ingredients for future success." One key to a bright future is a healthy shot of people in the creative class. People in creative fields -- scientists, engineers, architects, educators, writers, artists and entertainers -- are catalysts of vitality and livability in a city. The cities that made our list also represent larger surrounding areas. And because we understand that city living isn't for everyone, we've highlighted some great suburbs, too. Pack a bag and join us on a tour of the Best Cities for 2008 and prepare for some surprises. 1. Houston 
Population: 5,542,048 Population Growth Since 2000: 14.9% Percentage of Workforce in Creative Class: 31.3% Cost-of-Living Index: 88.1 (100 being national average) Median Household Income: $50,250 Income Growth Since 2000: 13.1% 2. Raleigh Population: 995,662 Population Growth Since 2000: 19.9% Percentage of Workforce in Creative Class: 36.1% Cost-of-Living Index: 99 (100 being national average) Median Household Income: $56,150 Income Growth Since 2000: 10.3% 
3. Omaha Population: 821,356 Population Growth Since 2000: 6.6% Percentage of Workforce in Creative Class: 30% Cost-of-Living Index: 89.4 (100 being national average) Median Household Income: $51,627 Income Growth Since 2000: 15.1% 4. Boise Population: 568,086 Population Growth Since 2000: 18.2% Percentage of Workforce in Creative Class: 33.2% Cost-of-Living Index: 95.5 (100 being national average) Median Household Income: $49,833 Income Growth Since 2000: 16.6% 
5. Colorado Springs Population: 600,444 Population Growth Since 2000: 10.5% Percentage of Workforce in Creative Class: 34.1% Cost-of-Living Index: 95.3 (100 being national average) Median Household Income Since 2000: 53,486 Income Growth Since 2000: 16.1% 6. Austin Population: 1,506,425 Population Growth Since 2000: 17% Percentage of Workforce in Creative Class: 36.5% Cost-of-Living Index: 92.8 (100 being national average) Median Household Income: $52,882 Income Growth Since 2000: 12.2% 
7. Fayettville Population: 419,455 Population Growth Since 2000: 17.3% Percentage of Workforce in Creative Class: 31.4% Cost-of-Living Index: 90.4 (100 being national average) Median Household Income: $42,267 Income Growth Since 2000: 17.6% 8. Sacramento Population: 2,067,117 Population Growth Since 2000: 13.1% Percentage of Workforce in Creative Class: 34% Cost-of-Living Index: 121.7 (100 being national average) Median Household Income: $56,953 Income Growth Since 2000: 19.1% 
9. Des Moines Population: 532,425 Population Growth Since 2000: 9.6% Percentage of Workforce in Creative Class: 32.1% Cost-of-Living Index: 90.6 (100 being national average) Median Household Income: $53,384 Income Growth Since 2000: 16.3% 10. Provo Population: 474,351 Population Growth Since 2000: 20.6% Percentage of Workforce in Creative Class: 32% Cost-of-Living Index: 97.7 (100 being national average) Median Household Income: $50,583 Income Growth Since 2000: 12.2% For more places, tools and walking tours, visit Kiplinger.com's Best Cities Center. Copyrighted, Kiplinger
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 Austin Texas
Median home price: +6.4% Unemployment: 3.6% (from 3.8%) Key growth: Natural resources and construction, +5.1%; leisure and hospitality, +5.3% One of the hippest cities in the country has one of the lowest unemployment rates. The Austin region is home to Dell, and many tech companies from Apple to Sun Microsystems also maintain a significant presence. One difference between “Silicon Hills,” as some call Austin’s tech sector, and Silicon Valley? In Austin, the median home price is still under $200,000. http://www.forbes.com/2008/04/29/cities-recession-places-forbeslife-cx_jz_0429realestate_slide_2.html?partner=yahoore
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I have noticed that the homes sales in Austin are still strong. Homes sales in Southwest Austin are especially strong. For example Circle C, Legend Oaks, Western Oaks, and Shadowridge communities are still hot. These homes are located approx 10 minutes to downtown, have exemplary schools and are newer than many of the central Austin homes. The prices are still in the 200k to 500k arena, so they are still affordable and close to downtown restaurants, Lady Bird Lake, and lots of convenient shopping. Prices are stable in these communities, and I have even seen a couple of multiple offers in this area lately. Many people relocating to Austin request this area because of the proximity to their jobs, shopping, exemplary schools, close proximty to downtown, and affordability. The sellers are largely moving to the new construction being built in Circle C. They are cashing in on their equity and buying a larger home. Homes that are priced well sell in 30 to 90 days. Homes over 500k are taking longer to sell right now. However, if they have been updated and staged properly there are buyers ready to pick those up. Buyers are being selective and choosing the ones that have been brought up to date, or they are looking for a bargain. These homes often take longer than 4 months to sell. Financing is a big issue these days because of the national mortgage meltdown. There has not been a huge foreclosure market in Austin. However, this has caused the mortgage guidelines to become much more regulated and the days of zero down home loans are gone. You must now have a 3% down payment, unless you have a VA loan. The cost to buy a home is usually 3% down payment, plus closing costs. Closing costs are normally about 2 to 4% of the sales price. They cover things like starting an escrow account (4 months of taxes and insurance reserves), home insurance 1 year policy, and origination fee, title company ,attorney document preparation fees. The good news is that you can usually roll your closing costs into the mortgage or negotiate for the seller to pay some or all of the cost for you. You still need to have that minimum down payment of 3%, plus you will want to have money set aside for a home inspection , and moving costs. Now is a good time to buy in Austin. We have been consistantly rated one of three of the top markets in the US for growth, strong economy, green cities. The values here have grown at an average of 7% annually over the past 5 years. This is a fabulous place to live, because of all of the outdoor activities, hike and bike trails, wonderful restaurants, lakes, music and film festivals ,art, and much more. It is a good time to get an FHA loan. If your home purchase qualifies, you can benefit by using this type of government backed financing. The interest rate is very low, and you can have a 2.25% down payment. The FHA loan limit is $288,750. This is also a great loan program if your credit score is lower than 680, you still may qualify for the best rate available. Call Dominik Kilpatrick at Sente Mortgage for more details and get pre approved. You can reach him at 512-637-9900 To reach me to purchase a home in Austin: Crystal Kilpatrick Homes ATX 512-680-5835 www.CrystalSellsAustin.com
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• 1,855 sq. ft., 2 bath, 4 bdrm single story -  MLS® $189,900 Texas Oaks, Austin Property information
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Amazing View
• 3 bath, 4 bdrm single story "Gameroom upstairs"
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MLS®
$1,250,000
Barton Creek, Austin
Property information
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