
My grandmother, Marcie, was a fabulous cook. When I was a little girl, I couldn’t wait to pull a chair up to her big maple table and help her make an array of holiday treats. One of the first things that she taught me to make were her yams, and they are a holiday tradition at my house at Thanksgiving and Christmas. This year we took them as our contribution to a Thanksgiving gathering at my cherished friend and clients’ home here in Austin. This family favorite got rave reviews, and no one could believe that there is no butter in them. My daughters and their cousins always put the marshmallows on top just before they go in the oven, another family tradition since they were little. This year, they had some help!
This dish is easy because it can be made the day before and refrigerated. The resting period gives the spices time to enhance the flavor. On the day of your feast, heat the covered dish for about thirty minutes at 350 degrees before serving. When it is thoroughly heated, remove from the oven, add the marshmallows on top and return it to the oven to lightly brown the marshmallows before serving.
Marcie’s Holiday Yams
10 small to medium yams (about the size of your fist)
1/2 Fresh Nutmeg (grated from the seed)
Ground cinnamon to taste
1 and 1/2 bags of large marshmallows
3/4 to 1 cup of water from the water that you boiled the yams in
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Wash and peel the yams and put them into a large pot. Cover with water and boil until soft. Lift the yams out of the water with a large, slotted spoon and place them in a large mixing bowl. Dip the water out of the pot and add small amounts slowly as you mash the yams until they have the consistency that you want. They should be light and smooth, but not runny. Marcie used to mash them with a potato masher, but I prefer to mix them with an electric hand mixer. Cut a fresh nutmeg in half and grate one half of it into the mix. Fresh nutmeg is key! Don’t use pre ground nutmeg; it just doesn’t taste the same.Add cinnamon to taste. Mix thoroughly. Spread the mixture into a large casserole dish (38 X 25 X 4). Take a spoon and spread it across the top of the mixture for even distribution in the dish. Cover with foil and refrigerate overnight. Heat until thoroughly warm and steaming, then add large marshmallows on top. Put back into the oven until they are slightly brown. Marshmallows can brown quickly, so keep your eye on them! Serves 18-20
One of the most sought-after neighborhoods in Austin, Steiner Ranch offers quality schools, luxury shopping and leisure, and well-crafted homes, all in the rolling hills near Lake Austin and Lake Travis.
The 5,200 acres of ranch land of the Steiner Rodeo Company, originally home to livestock, were transformed into the “exemplary” residential community now known as Steiner Ranch. Recognized by the Austin Business Journal as “Best Master-Planned Community” in the greater Austin area in 2004, Steiner Ranch sits on 4,600 acres nestled between Lake Travis and Lake Austin. In addition, there are golf course homes and homes along the Balcones Canyonland Preserve near this area. This master-planned Austin community, with prices ranging from $300,000-$3 million, provides homes for a variety of lifestyles.
To read more about Steiner Ranch’s offerings and history, click here.
NEW LAW TAKES EFFECT FOR PROPERTY TAX HOMESTEAD EXEMPTION APPLICATIONS
Under a law passed by the Texas Legislature homeowners who apply for a new property tax homestead exemption beginning Sept. 1 must provide proof to the county appraisal district that they live in the house they claim as their principal residence.
House Bill 252 requires a copy of the homeowner’s Texas driver’s license or state identification card and the homeowners vehicle registration receipt be sent with the homestead exemption application. If the homeowner does not own a vehicle they can send a current utility bill showing name and address, along with an affidavit provided in the application indicating non-ownership of a vehicle. The address on the documents must match the address for which the homestead exemption is requested.
The new requirement does not apply to homeowners who already have homestead exemptions. It affects only new applications for exemptions sent to appraisal districts.
The new law affects new applications for the general homestead exemption available to every homeowner as well as the over-65 exemption, the disability exemption, the disabled veterans exemption, the extended exemption for a homeowner’s surviving spouse and the manufactured (mobile) home exemption.
If you purchased a home through West Austin Properties, we will send you the necessary forms to file your exemption and instructions for completing it.
Thanks to Austin Title for distributing information about these new requirements. They keep us informed so we can keep you informed.
The key statistic you need to use to show the current relationship between inventory and demand is a term called “Months of Inventory.” It is the number of homes for sale divided by the number of homes sold the month before. It is like an absorption rate and has always been a good way of analyzing changing demand and the number homes that can meet that demand. In “Average” markets it is normal to have about 6 months of inventory; home values are usually stable and prices rise slowly. Above 6 months of inventory, prices decline. Below 6 months of inventory, there is increased pressure to raise home prices.
Download our July Market Report to see the months on inventory by price ranges, areas, and zip codes.
Months of Inventory Spotlight: 78703
Jan: 9.08 Normal Buyers Market
Feb.: 7.23 Balanced Market
March: 6.5 Balanced Market
April: 4.5 Normal Sellers Market
May: 2.95 Extreme Sellers Market
June: 4.43 Normal Sellers Market
The Austin real estate market continues to strengthen: higher demand (sales) with a stable inventory (homes for sale). With interest rates not changing, current high occupancy rental rates and positive inward mobility the average/medium value of 85% of the homes in Austin have stabilized. In some areas, price ranges and zip codes we are seeing multiple offers on homes, including good offers on homes being trumped by CASH offers or buyers paying above the list price.
While it is normal for sales in June to increase over May, a 10% increase is very strong, higher than four of the last five years! For the first time in five years the number of homes for sale dropped between May and June. It is normal for inventories to increase during June by about 1%. However this year inventories decreased by 1% from May to June.
Overall the Austin market is a “Normal Sellers Market”, meaning there is less than 5 months of inventory. Above $800K representing less than 4% of sales, the market is still an “Extreme Buyers Market.”
We expect demand for homes below $800,000 to increase, which may cause pressure for prices to increase. Rising values will occur if buyers are willing to risk more for home ownership, and that is related to buyers confidence in the future. On average we have not seen prices rising, however prices have stabilized in most of the Austin market. The closer to downtown and the lower the price, the greater the pressure for prices to rise. In time this pressure will increase home prices.
Unknowns that could affect the Austin market in the short term: impact of FHA changing the amount that can be borrowed, banks requiring more down payment, 6,000 additional people expected to move into Austin in the next three months, several companies that are relocating major divisions to Austin, increases in interest rates (not expected), and the impact of 25,000 college students returning to Austin in August on rental availability and rent costs.

Filed under Market Reports, Real Estate Trends · Tagged with Austin, Austin home market, Austin Real Estate, Home Buying, Home Values, housing update, Katy Duggan, Laura Duggan, Market Report, West Austin Properties
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