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Central Texas Real Estate |
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Tuesday, 24 August 2010
COLLEGE STATION (Real Estate Center) – Texas’ economic recovery is strengthening, according to the latest monthly economic review from the Real Estate Center at Texas A&M University.
After 16 months of job losses, the state had its third month of positive annual employment growth.
Texas’ employment growth rate from July 2009 to July 2010 was 1.3 percent compared with a rate close to zero percent for the nation.
The state’s private sector posted a positive annual employment growth rate of 1.2 percent compared with a zero percent rate for the United States.
The seasonally adjusted unemployment rate in Texas rose from 7.9 percent in July 2009 to 8.2 percent in July 2010, while the U.S. rate increased from 9.4 to 9.5 percent over the same period.
All Texas industries except the construction and information industries had more jobs in July 2010 than in July 2009.
Tuesday, 03 August 2010
TEXAS (The Atlantic) – Even in the middle of the Great Recession, Texas is faring well compared with the rest of the nation, racking up an ever-growing list of accomplishments.
In addition to ranking fourth in the country with the least amount of state debt, Texas has four cities in the Milken Institute’s Top Five Best Performing Cities Index, four among Forbes' list of top ten “Cities Where the Recession is Easing,” and four in last year’s Top Ten in Homebuilding.
Texas is home to three of the top five most resilient major metro areas for employment, with McAllen first, Austin third, San Antonio fifth and El Paso and Houston not far behind in the top 15.
The Lone Star State also claims 64 Fortune 500 companies — more than any other state — in addition to being dubbed Top State for Business for the second time in three years by CNBC.
The Atlantic says these accomplishments are because Texas’ major cities have chosen comparatively stable industries — Houston is the nation’s energy hub, Austin leads in education and technology, and San Antonio dominates the health care and education sector in addition to military spending.
“Our research shows that the more tax incentives and less regulation you have, and the less likely businesses are to get sued, the more likely it is they’ll want to come and prosper in your state,” said Brooke Rollins, president of the Texas Public Policy Foundation.
These factors support Texas’ position as a global economic leader, having the 15th largest economy in the world.
Friday, 16 July 2010
TEXAS (CNBC) – Texas has reclaimed the top spot from Virginia as CNBC’s number one state for business.
The news source's study measures states on 40 different metrics in ten key categories including cost of doing business, workforce, quality of life, economy, transportation and infrastructure, and technology and innovation.
According to government figures, the Texas economy is the 15th largest in the world in addition to being home to 64 Fortune 500 companies — more than any other state.
Although the state ranked high overall, it did fall short in the "cost of doing business" category, where it came in at number 30.
Monday, 01 February 2010
Texas came out on top of Gadberry's survey, with four high-growth cities: Atascocita, Katy, Mansfield, and Wylie. The report only included areas larger than 10,000 occupied households that met requirements for growth rate, household income, length of residence, and other factors.
Larry Martin, principal of the Gadberry Group, says many of the places with the biggest housing growth at the beginning of the last decade, such as Nevada, Florida, and Arizona, also saw the biggest drop-off since the economy sank. Texas, however, enjoyed relatively strong housing and job markets over the last 10 years, thanks in large part to the presence of major employers in the robust energy business. As of December, the state unemployment rate was 8.3% (lower than the national rate of 10%), according to data from the Bureau of Labor Statistics. It also had the largest state population growth between July 2008 and July 2009, according to a December release by the Census Bureau. "New homes are still being built and people are still moving into these homes" in Texas, says Martin.
Part of the state's strength, says Mark Mather, a demographer at the Population Reference Bureau in Washington, D.C., is its diversified economy. Main industries include petroleum refining, chemical production, aerospace, and information technology.
Friday, 13 November 2009
Here is some more great news about how well the Texas real estate market has held up despite the massive problems elsewhere in the country. As you’ll see, the Killeen-Temple-Ft. Hood market put in an especially strong showing! – Jean Shine
LOS ANGELES (Milken Institute) – Texas metros, led by number one Austin–Round Rock, claimed four of the top five spots and nine of the top 16 in the 2009 Milken Institute/Greenstreet Real Estate Partners Best-Performing Cities Index.
Also making the list were Killeen–Temple–Fort Hood (2), McAllen-Edinburg-Mission (4), Houston–Sugar Land–Baytown (5), San Antonio (11), Fort Worth–Arlington (12), Dallas-Plano-Irving (13), El Paso (14) and Corpus Christi (16).
Austin–Round Rock was the first metro to ever be ranked number one twice on the index, the last time being in 2000.
But it doesn't stop there. Nine other Texas metros made the top 25 out of the 124 smallest metros that were studied.
Those were Midland (1), Longview (2), Tyler (4), Odessa (5), College Station–Bryan (14), Texarkana (17), Waco (18), Laredo (20) and Abilene (21).
Leaders in this year’s index, which ranks U.S. metros based on their ability to create and sustain jobs, are all metros that succeeded in avoiding the worst of economic declines driven by falling housing markets and job losses in manufacturing and global trade.
Regional economic factors also strongly influenced the rankings this year, with the oil and gas sector, technology and alternative energy providing stability among metros in Texas, North Carolina, Washington and Louisiana.
Another factor helping Texas metros move up in the rankings is the state’s favorable business climate and its ability to attract jobs and corporations away from higher-cost states.
Friday, 13 November 2009
This is a great article about our “neighborhood” lake here in Harker Heights. From our office, I can be on the lake in less than 10 minutes! We spent enough time on this lake when my sons were growing up that we can claim it as a home away from home. – Jean Shine
In Central Texas we are blessed with abundant outdoor recreation opportunities such as parks, trails, lakes
and fishing areas all within less than 30 minutes drive of our home, yet many times I see these parks and lakes being under utilized.
I talk to local people every week who simply aren't aware of all the opportunities we have for outdoor recreation right here in our own backyard.
One of the best kept secrets in the state is Stillhouse Hollow Lake located just a few miles southeast of Killeen. The lake is an impoundment of the Lampasas River and was completed by the Army Corps of Engineers in 1968 and covers 6,430 acres at full conservation pool.
Most of the land around the lake is Corps of Engineers property keeping lakeside development to a minimum.
The shoreline is mostly rocky and the water is typically very clear.
Several parks surround the lake and offer a variety of recreational uses including camping, fishing, picnicking, boat launching, hiking and more.
The lake experienced dramatic flooding in the spring and summer of 2007 and reached levels 40 feet higher than normal.
Several parks experienced significant damage and were closed for extended periods of time while repairs were made. Most of these parks are now back in operation with the exception of Dana Peak where only the boat ramp has re-opened. Lake managers expect to fully re-open Dana Peak in the spring of 2010.
Hours and entry fees for the parks vary with most of the parks closing at sunset and several of them including Rivers Bend and Cedar Gap having no entry fees.
Currently the lake is at or near the normal pool elevation of 622 feet above sea level. Over the past few weeks the lake reached levels of 6-8 feet above normal with the heavy rains we received.
Lake managers have been releasing a high volume of water from the dam at 3100 cubic feet per second and anticipate reducing this to around 1500 cubic feet per second as the lake reaches normal levels.
This is a perfect time of the year to enjoy picnics at Stillhouse Hollow because the parks are less crowded and you can have your choice of picnic areas. Also the cooler temperatures are a blessing since the lake has very few shaded picnic areas. If you do decide to picnic on a warm day, it's a good idea to bring a canopy or umbrella for shade.
The well maintained concrete boat ramps at Stillhouse Hollow are wide and gently sloping. Most of them have courtesy docks nearby for easy loading and unloading of passengers and gear.
Free launch is available at Cedar Gap and Rivers Bend. Remember to observe courtesy rules on the boat ramps such as waiting your turn and having your boat ready to launch when you back down the ramp.
You should observe the "no wake" zones near boat ramps as a courtesy and safety precaution.
Autumn fishing is great on Stillhouse Hollow with the most popular species being white bass and largemouth bass. White bass are moving into deeper water now and you'll need sonar gear and deep water lures to tackle these feisty fighters.
Largemouth bass can still be found in shallow water on warm afternoons and will move between the deep water off the points and the shallow areas in the coves depending on weather and wind conditions.
Dark colored plastic worms and shad imitation crankbaits are the lures of choice right now for largemouth bass.
I've spoken to several fishermen who are catching good numbers of catfish on trotlines and jugs as well as rods and reels fished from the shore.
They are using live bait such as perch and Black Saltys and cut bait such as shad and chicken livers to catch channel and yellow cat.
In warmer weather, boating becomes more popular on Stillhouse Hollow with several great areas for water skiing and tubing.
Even on the windiest days, you can usually find a quiet cove behind some high bluffs to pull the kids on a tube.
Be sure to stay a safe distance away from fishermen and anchored boats. Sailing and kayaking are gaining popularity on the lake as well and most evenings you can see several kayakers near Rivers Bend park with at least one kayak club frequenting the lake.
We are truly blessed to have such a beautiful and diverse outdoor recreation area and I encourage you to put down the remote, shut off the computer, gather up the kids and get out and enjoy the outdoors at Stillhouse Hollow Lake.
By Jeff Warren
Tuesday, 29 September 2009
NEW YORK - CNNMoney – Texas had the highest net migration in the country in 2008, according to the U.S. Census Bureau.
As other states suffered through a falling economy last year, the Lone Star State experienced an influx of residents, thanks to relatively stable housing and employment markets.
The population grew by 140,000 in 2008, after subtracting those leaving the state from those moving into it.
The Census Bureau also reported that fewer residents were moving within their home states.
The percentage of people who lived in different homes within the same state dropped to 12.6 percent during 2008. It was 12.8 percent in 2007 and 13 percent in 2005, when housing markets were hopping.
Monday, 21 September 2009
TEXAS CITIES' HOUSING FORECAST STABLE
CARY, N.C. ( Local Market Monitor) – Five large Texas cities and ten smaller ones are among the nation's top markets when it comes to expected home price performance, according to Local Market Monitor’s latest Home Price Forecast.
Among the largest markets — those with populations exceeding 600,000 — Dallas-Plano-Irving, Fort Worth–Arlington, Houston–Sugar Land–Baytown, San Antonio and Wichita Falls filled five spaces on the ten-slot list of cities with the best expected performance in home price over the next year.
The same survey of the smallest U.S. markets revealed ten Texas cities were tops, tied with other cities across the country. These were Abilene, Amarillo, Brownsville-Harlingen, College Station–Bryan, Corpus Christi, Killeen–Temple–Fort Hood, Laredo, Lubbock, Texarkana and Waco.
The study predicts local market behavior over the upcoming 12 months in over 300 markets, identifying those that are stable and have opportunity for growth.
Tuesday, 01 September 2009
COLLEGE STATION (Real Estate Center) – Texas beats the rest of the country when it comes to housing affordability, according to first quarter 2009 Texas Housing Affordability Index (HAI) numbers compiled by the Real Estate Center at Texas A&M University.
The numbers reflect the ability of a median-income family to purchase a median-priced existing home in their area. Texas had a ratio of 1.95 in first quarter 2009 compared with the nation's 1.55.
"The slowdown in the housing market nationally and within Texas has led to significantly increased housing affordability everywhere, and Texas continues to maintain its place as the most affordable high-growth state in the country," said Dr. Jim Gaines, research economist with the Center.
Friday, 28 August 2009
First National Real Estate Brand to Offer Automatic Notifications of New Listings Through a Mobile Application
PARSIPPANY, N.J. – August 20, 2009 –Coldwell Banker Real Estate LLC today announced the launch of the first-ever international home search application for iPhoneTM and AndroidTM-powered devices. The Coldwell BankerReal Estate mobile application enables users to easily search for property listings and recent home sales in 28 countries in North America, Europe, Central America, Caribbean, Australia and South America. The results of these searches as well as the search itself can be saved in a personalized ‘My Coldwell Banker’ account newly created from the user’s smartphone or added to an existing account with coldwellbanker.com by logging into the site directly from the handheld device. Unique to the Coldwell Banker application, searches that are saved to an app-created ‘My Coldwell Banker’ account will automatically generate notifications of new properties and open houses, alerting the user to updated results right on the device’s homepage.
Coldwell Banker Real Estate continues to raise the bar on the traditional home search. In October 2008, Coldwell Banker Real Estate set out to reach the masses by becoming the first full-service national real estate brand to optimize its Web site for use on all mobile devices. By early 2009, international Coldwell Banker Real Estate listings in 28 countries became accessible via the Coldwell Banker brand Web site on the iPhone, Blackberry and other smartphones. To date, more than 200,000 users have viewed Coldwell Banker Real Estate listings from the convenience of their handheld devices. Building upon this success, the Coldwell Banker brand is taking the next step in providing consumers with greater flexibility when searching for a home by designing a mobile application that is intuitive, quick and convenient.
“While the desktop computer remains a proven screen, Coldwell Banker recognizes that today’s technologically savvy consumers are also using smartphones to access information on-the-go,” said Michael Fischer, senior vice president of marketing for Coldwell Banker Real Estate LLC. “We are committed to improving the consumer experience and will continue to introduce innovative technology such as this mobile application to provide our customers with up-to-date home data the moment they want it and to wherever they may be.”
Features of the new application include:
- GPS-based search to locate nearby homes for sale, open houses and recent homes sold
- Ability to sort recently sold properties by location, price and sale date
- Option to view search results in list form or on a variety of maps including street, hybrid and satellite that are marked with “clickable” Coldwell Banker Real Estate icons
- Detailed property listings that include images and a slideshow view
- Direct dial and e-mail functions from the user’s mobile handset to the local Coldwell Banker Real Estate listing agent associated with each property
- Real-time notifications of new properties and open houses identified through the user’s customized saved searches
Bootstrap Software was responsible for developing and building the Coldwell BankerReal Estate mobile application.
iPhone is a registered trademark of Apple Computers, Inc.
Android is a trademark of Google Inc. Use of this trademark is subject to Google Permissions.
About Coldwell Banker Real Estate
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and more than 101,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.
Friday, 14 August 2009
COLLEGE STATION— “It appears we are at the bottom of the housing market in most Texas cities,” said Real Estate Center Director Mark Dotzour after reviewing the state’s latest home sale numbers.
Dotzour mentioned two years ago that new home construction needed to fall dramatically to avoid the level of overbuilding that could damage Texas housing markets. He even picked summer 2009 as the bottom of the housing cycle because bankers would constrain credit to homebuilders and developers.
Apparently he was right on all counts. The Texas inventory of unsold new and existing homes is in good shape.
“I feel now is the time to buy a house in most Texas cities,” he said. “Housing affordability has never been higher, and I never thought I would see 5 percent mortgages in my lifetime. If you plan to live in the house for at least two or three years, now is the time to buy.
“If you are planning to build a home to retire to in the near future, now is a great time to do it. Contractors are plentiful, construction costs are lower and mortgage money is cheap,” he said.
Dotzour said mortgage rates should remain low as long as the federal government continues to purchase almost all residential mortgages. When they stop, rates will move up.
The Center’s chief economist is quick to note, however, that everything hinges on one crucial assumption — “that the federal government doesn’t cause further damage to the U.S. economy with higher levels of intervention in healthcare, taxation, cap and trade and rewriting accounting and legal standards.”
Tuesday, 21 July 2009
AUSTIN (Austin American-Statesman) – Residential foreclosures are at a five-month low in Central Texas, reflecting a trend in other parts of Texas, according to Foreclosure Listing Service (FLS) data.
"The tide may have changed," said FLS President George Roddy Sr., adding that the figures offer hope that foreclosure postings may have peaked.
Travis, Williamson, Hays and Bastrop counties posted a combined 1,072 properties for foreclosure in the August auction, down 27 percent from July.
The Dallas area saw foreclosures fall below 5,000 for the first time since March. In Bexar County, postings fell to their lowest level since March, according to Real Estate Foreclosures Inc.
SOURCE: Austin America-Statesman
Monday, 15 June 2009
If you’ve been thinking about buying and you qualify for the $8000.00 tax credit, now is the time to do it! -Jean
New home subsidy unlikely to get through Congress
The Obama administration introduced an $8000 tax credit for first-time homebuyers in February in order to stimulate the housing market. Some believe the government should do more and offer incentives to all homebuyers. Johnny Isakson, a Republican Senator, has submitted a proposal to offer all buyers a $15,000 tax credit for home purchases. Isakson said the rising number of foreclosures "is continuing to precipitate a downward spiral in values, loss of equity by the American people and a protracted, difficult economic time." Analysts believe that the proposal may not find favor with Congress.
"There is bailout burnout across the country," said Brian Gardner, senior vice president at Keefe, Bruyette & Woods. "There's an argument for the stimulus, but the possibility of the bill passing is unclear," said Gardner. The proposal will cost the government $30 billion. Jaret Seiberg, a policy analyst for Concept Capital's Washington Research Group, said that "in an era of record deficits, it will be hard for lawmakers to accept that cost." The National Association of Realtors and National Association of Homebuilders have welcomed the bill since they expect the proposal to eliminate oversupply of homes and stabilize the property market.
Friday, 01 May 2009
- Texas home prices remain stable and a home is a good investment.
- FHA loan limits have been raised temporarily.
- Receive up to $8000.00 tax credit on homes purchased before December 1, 2009
- Interest Rates are LOW!
1. Texas Home prices remain stable. Nationally, home prices dropped 4.5 percent last year for the overall index (which includes financing and re-financings) and 8.2 percent based on purchases-only data. But latest home appreciation rates released by the Federal Housing Finance Agency (FHFA) indicated Texas fared well in 2008, especially compared with the rest of the country- in fact Texas home prices increased an average 2.1 percent last year! What does this mean for you...a homeowner or a new
homebuyer? The Killeen-Temple-Ft. Hood area home appreciation rates were up by 2.5%, this means that owning or buying a home in the Central Texas area is still a good investment!
2. FHA Loan limits have been raised temporarily. If you qualify for a FHA loan, FHA Loan limits for the Killeen-Temple-Fort Hood Area increased from $200,160.00 to
$271,050.00 for a one-unit property. This temporary new increase is established for 2009 under the American Recovery and Reinvestment Act of 2009 and allows homebuyers more flexibility in choosing the right home.
3. Receive up to a $8000.00 tax credit on homes purchased before December 1, 2009. As mentioned in our last month’s newsletter…. First-time Homebuyers can claim a tax credit worth $8000.00 - or 10% of the home’s value, whichever is less on their 2008 or 2009 tax returns. To qualify for the credit the home purchase must be made between January 1, 2009 and November 30, 200, the buyers must be First-time homebuyers (may not have owned a home for the past three years), and they must live in the home for at least three years or they will be obligated to pay back the credit. For more information visit www.federalhousingtaxcredit.com.
4. Interest Rates are low. Interest rates are the lowest they have been in the past five years. Lower interest rates mean lower payments and puts money back into your
pocket for other expenses. Owning a home is a good investment.
Tuesday, 14 April 2009
Woo hoo! More great Texas news! -- Jean
TEXAS DOMINATES BEST CITIES FOR JOB GROWTH
(Forbes.com) – Texas has nine of the top 20 best cities for job growth in the United States, according a new study. Texas dominated every category, led by number one-ranked Odessa.
Others on the list are Longview (3), Killeen–Temple–Fort Hood (5), Austin–Round Rock (6), McAllen-Edinburg-Mission (7), Laredo (8) and Houston–Sugar Land–Baytown (10). Next come College Station–Bryan (16) and San Antonio (20).
The study used job growth data from the Bureau of Labor Statistics for 333 U.S. regions.
Friday, 13 March 2009
TEXAS (The Eagle, Beaumont Enterprise, Associated Press) – Texas' foreclosure filings last month dropped 14.1 percent from a year earlier but increased 7.9 percent from January, according to the latest report from RealtyTrac, a foreclosure-listing firm.
Those numbers compared favorably to the nation's. RealtyTrack reported that, nationally, nearly 291,000 homes received at least one foreclosure-related notice last month. That is up 30 percent from February 2008 and 6 percent from January.
The news varied throughout the state. For example, Brazos County experienced a slight uptick in foreclosures.
RealtyTrac listed a total of 58 bank-owned properties in the county since late 2006. Of those, 17 were entered over the months of January and February, compared with two properties entered from the same period of 2008.
Meanwhile, farther east, the Jefferson County clerk’s office records show that banks filed 67 notices in January, 97 notices in February and 28 so far in March. That compares with 141, 91 and 66 notices in those respective months last year.
Dr. Jim Gaines, research economist at the Real Estate Center at Texas A&M University, said he believes more people in the area will face foreclosure in the coming months. In Beaumont, some areas may see higher rates than others, and those areas may be subdivisions where creative financing was used to get people into homes that they maybe could not afford.
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