Local News

ANN ARBOR, Mich. (CMPS Institute) – The Federal Housing Administration (FHA) is giving homeowners and buyers until Oct. 4 to lock in a low monthly insurance premium on FHA loans, according to Gibran Nicholas of the CMPS Institute, which trains and certifies mortgage bankers and brokers.

After that, the monthly insurance premiums on FHA loans will increase by over 63 percent.

A homebuyer purchasing a $200,000 home using a $193,000 FHA mortgage before Oct. 4 would pay an insurance premium of $88.46 per month. If the same homebuyer waits until after, the insurance premium would jump to $148.01.

Although the upfront mortgage insurance premium is going down, "the real impact to the homebuyer is actually a net increase in their out-of-pocket costs because the monthly premium is going up by 63 percent," Nicholas said.

"Remember, sellers can pay the upfront premium or it can be financed into the loan amount, so homebuyers rarely pay the upfront premium out of pocket," he said. "On the other hand, the increase in the monthly premiums will be paid right out of the homebuyer’s pocket with their mortgage payment each month."

COLLEGE STATION (Real Estate Center) – When it comes to home price appreciation, Texas is standing strong, said Real Estate Center Chief Economist Dr. Mark Dotzour.

Dotzour was responding to the Federal Housing Finance Agency's (FHFA) second quarter 2010 home price index, which ranked Texas third in the nation in home price appreciation for the year ending June 30, 2010.

FHFA reported a 1.43 percent increase in Texas home prices during that period versus 1.6 percent nationally.

"The strong price trends in Texas are because we didn't have a price bubble in the previous decade," Dotzour said. "For several years, Texans were asking why their homes were increasing only 3 to 5 percent per year, when Arizona was going up 30 percent."

In addition, Dotzour said the credit crisis virtually ended new home construction lending all over the country, abruptly shutting off the pipeline of new supply in 2008 and reducing any chance of heavy overbuilding in the single-family market.

Research Economist Dr. Jim Gaines noted that Texas was one of only ten states that reported increases in home prices during the past year, and it was one of only five states where prices had more than a 15 percent increase over the past five years.

Prices in Texas increased by 15.88 percent since 2005, landing it fourth on FHFA's ranking of states based on five-year price appreciation.

"What that means is that Texas home values fared better than all of the high-appreciation states over the five-year period that included the recession," Gaines said.

Among Metropolitan Statistical Areas (MSAs), Amarillo came out smelling like a yellow rose. It was the only Texas MSA to land on FHFA's list of 20 MSAs with the highest rates of home price appreciation.

Amarillo ranked 16th with a one-year price increase of 0.42 percent.

FHFA's latest home price index is available online.

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.

Nineteen Texas metro areas had positive employment growth rates from July 2009 to July 2010, up from 16 for the period from June 2009 to June 2010. San Angelo ranked first in job creation, followed by College Station-Bryan, Austin-Round Rock-San Marcos and McAllen-Edinburg-Mission.

The state’s actual unemployment rate in July 2010 was 8.5 percent. Midland had the lowest unemployment rate followed by Amarillo, San Angelo, and College Station-Bryan.

The complete economic review is available on the Center's website.

AUSTIN (Texas Association of Realtors) – The Texas Association of Realtors (TAR) has announced an initiative to help more homebuyers take advantage of housing assistance programs and make homeownership more affordable for Texans.

According to TAR, Texas ranks 44th out of 50 states in overall homeownership, partly because of a need for more affordable housing. That homeownership gap is widest in Texas among Hispanics, who account for 36 percent of the state's population but only 5 percent of homeowners.

"The good news for our state is that many programs do exist to make homeownership more affordable for Texans," said TAR Chairman Bill Jones. "The bad news is that few people know about them and even fewer know how to take advantage of them."

To address this issue, TAR has launched TxHomePrograms.org, an online searchable database of housing assistance programs in Texas.

In addition, Texas Realtors are partnering with local lenders, housing counselors and others throughout the state to host educational events for consumers. At these events, attendees will learn about workforce housing issues, consumer needs for workforce housing and Texas-specific programs available to make homeownership more affordable.

Land Prices 2010

This is an informative video about Land Sales Trends from a presentation at Texas A & M real Estate Research Center.  Enjoy!

AUSTIN (Austin American-Statesman) – Whole Foods Market Inc. is planning one of its largest hometown expansions in Bee Cave and Southwest Austin in the next two years.

The natural food grocer plans to add stores at the Hill County Galleria on Texas 71 and RM 620, and at the Arbor Trails Shopping Center at South MoPac Blvd. and William Cannon Dr. The Bee Cave store will be constructed near Dick’s Sporting Goods and is scheduled to open in spring 2012 while the southwest Austin store is slated to open in fall 2011.

Both stores will be approximately 35,000 sf and will employ 150 to 200.

The company also plans to open a north Austin store to replace a store in the Gateway Shopping Center in 2013.

There are currently two Whole Foods stores in the Austin area.

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.

The 68,000-square-foot HEB Dripping Springs grocery, fuel and car wash center opens this month after a year in construction.

The store owned by San Antonio-based H.E. Butt Grocery Co. broke ground in May 2009 and opens July 23. The gas station and car wash will open this Thursday.

The retail center is part of a 55-acre development, which also includes a Home Depot, located about 25 miles southwest of Austin near the intersection of R.R. 12 and U.S. 290.

Kimley-Horn and Associates Inc. finished the store’s civil engineering work, while Alamo Architects Inc. was the project architect and Joeris General Contractors was its contractor. The car wash integrates a water reclamation system that recycles up to 80 percent of water from the wash, according to the company.

The first 500 customers will receive free washes and HEB sunscreen samples, and the first 1,000 people will get a 20 oz. HEB Quench drink.

The grocery store will include HEB products, Central Market, major brands and local items, such as wine, jams, produce, flowers and dairy. The HEB is the only large-scale grocery store within a 20 minute driving distance, though Super S Foods operates a location in the shopping center across the street.

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more. Please click here to view the JUNE - 2010 Newsletter Housing Trends eNewsletter.

If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.

MEMBER ACTIVITES FOR JULY (Beginning with June 28)

THURSDAY – JUNE 30 Englewood Estates Deadline for Tours

Also Thursday, June 30 - Englewood Estates @ 2603 Jones Road in Austin invites you to see how we lead the way in supporting your active retirement lifestyle. Every tour now through June 30th will be entered in a national drawing to win FREE RENT FOR LIFE. Call 512-892-7226 for details & appointments.

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SATURDAY – JULY 3 Victory Chiropractic Bake Sale benefits Kids Hunger

Saturday, July 3, 2010, Victory Chiropractic will be hosting a Bake sale. All proceeds benefit Share Our Strength, an organization feeding hungry children in America. For more information, visit http://community.strength.org/profile/VictoryChiropractic . Event location: 101 Hays Street, Suite 412, Dripping Springs. Event begins at 10am until we sell out. Victory Chiropractic info: 512-787-2485, www.victorychiropracticds.com , teamvc@victorychiropracticds.com .

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SUNDAY – JULY 4TH               HAPPY INDEPENDENCE DAY

Since there will be no formal fireworks display in the city of Dripping Springs, we encourage you to visit neighboring displays in Wimberley & Johnson City.

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THURSDAY- JULY 8 Verde’s Mexican Parrilla Summer Concert Series

Verde’s invites everyone out to join them in the summer concert series with live performances. A great dinner buffet is served from 6pm—7:30pm with all of your favorite food. For pricing and to find out who is playing, go to www.verdesmexican.com or call 512-263-0500

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SATURDAY - JULY 10 “Wind, Water, & Light” Show @ Wesley Gallery

Wesley Gallery show, “Wind, Water and Light”, explores local solutions to our world energy challenges, Saturday 10 am—5 p.m. at the Gallery location: 27008 Ranch Rd. 12 South. Sit under a solar umbrella while you admire magnificent sculpture and brightly painted rain barrels. Learn about nearby wind and geothermal projects, browse through drought resistant plant specimens, and then talk with green builder, The Maroney Company, about putting it all together. Inside the Gallery, over a hundred compact fluorescent bulbs powered by a solar roof array will light additional artworks and business displays from other green businesses of interest. Texas Representative, Patrick Rose, and Hays County Commissioner, Karen Ford, will discuss policy issues. For additional information and map to location visit www.wesleygallery.com http:/www.wesleygallery.com, email art@wesleygallery.com, or call (888) 224-3644

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SATURDAY – JULY 10 Movies Under the Stars @ LBJ

National Historical Park Lyndon B. Johnson National Historical Park presents “Movies Under the Stars”. On July 10, 7:00 p.m., enjoy a FREE showing of “To Kill a Mockingbird” at the LBJ Ranch. Movie will be shown outdoors beginning at sunset. Gates to the LBJ Ranch will open at 7:00 p.m. Bring your picnic supper, lawn chairs. Free popcorn. Call 830-868-7128, ext. 244 for more info or visit www.nps.gov/lyjo.

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THURSDAY - JULY 15 FISH FRY @ Hill Country Senior Citizens Activity Center

Hill Country Senior Citizens Activity Center will have their Annual Fish Fry on July 15, 2010, starting at 5:30. Tickets are $5.00 for adults and $2.50 for children. There will be a drawing for a Queen size Quilted Bedspread. Tickets for the drawing are $1.00 or 6 for $5.00 Starting at 6:30 we will have a contest for who can tell the BEST fist story, true or not true. Prize will be $100.00. To enter this contest you must buy at least one quilt ticket. For more information call, Dixie at 858-4663. ________________________________________________________________________ WEEKLY MEETINGS/ACTIVITY

 If you have a weekly or monthly meeting/activity please let us add it to our calendar. Email at dschamber@verizon.net

TOASTMASTERS

Toastmasters Dripping Springs meets every Tuesday, 6:30pm @ Pioneer Bank Bldg. (Conference Rm), 100 Creek Rd @ Hwy 290.Visitors always welcome. For more information, call Mike @ (214) 339-3237.

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ROTARY CLUB

Every Monday, noon @ Creek Road Café 301 Hwy 290 W. To attend, please contact Bonnie Rose at (512) 894-3944 or brose@austin.rr.com

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ONE HOUR WELLNESS with Dr. Chae & Dr. Monya every Saturday at 10AM.

 Join One Hour to Wellness with hosts the doctors of Family First Chiropractic this Saturday at 10:00 a.m. on 99.9 KDRP-FM or streaming live at kdrplive.org so you can. So if you are tired of being sick and tired give us a call, 858-WELL.

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DS FARMERS MARKET will be OPEN JULY 3rd

The Dripping Springs Farmers Market will be in full swing Saturday, JULY 3rd. Shop early for best selection for your holiday weekend. Fresh fruits and veggies for the perfect picnic and grass fed lamb or beef for the grill with authentic recipes from the farmers who grow your food. 9:00 am to noon at the Triangle. Visit www.dsfarmersmarket.yolasite.com for a list of vendors or to sign up for a weekly harvest update.

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MONTHLY MEETINGS

LIONS CLUB Meets the 1st and 3rd Thursday of the month at DSUMC, 28900 RR 12N. Contact Sharon Goss @ (512) 858-5159

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Alzheimer’s Support Group 

Free Alzheimer's Support Group meets on the 2nd Wednesday of the month at Noon at Arveda Alzheimer's Family Care, 11013 Signal Hill Drive, 78737. (Off Hwy 290, just past Nutty Brown, behind the McCoy's). Please RSVP to 512-637-5400.

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Veterans host Dripping Springs 9/12 Meeting

7pm @ Am. Legion/VFW Hall every 2nd and 4th Thursday of every month at American Legion/VFW Hall at HWY 290 and RR 12. Contact Steve Cossette 512-610-7653 for more information or go to www.centex912project.com .

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Vince F. Taylor American Legion Post 290 Meetings

Every 1st & 3rd Thursday at 7pm, Vince F. Taylor American Legion Post 290 of Dripping Springs invites all Veterans with Foreign Service to the Veteran’s Hall at the Triangle. Call 858-5637 _________________________________________________________

YOUTH ACTIVITIES FOR JULY

TUESDAYS IN JULY at Dr. Pound Historical Farmstead

The Dr. Pound Historical Farmstead, in Dripping Springs, hosts Pioneer Fun Days for kids ages 5-12. Hands on activities and old time games. See website for descriptions and changes. www.drpoundpioneerfarmstead.com $5 per child. 9 a.m.-11 a.m. Adult must stay. Reservations Required. 512-858-2251. 6th – Yarn Spinning 13th – Sunflower Extravaganza 20th – Jam Making 27th – Candle Dipping

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WEEK of JULY 12-16 Vacation Bible School at Sports Country Camp

Vacation Bible School hosted by Dripping Springs Presbyterian Church & New Life Lutheran Church July 12-16, 2010, 9am-Noon, at Sports Country Camp (www.sportscountrycamp.com). We'll travel to Egypt this year, without leaving Dripping Springs! We'll sing songs, make crafts, play games, and learn all about Joseph's journey from Prison to Palace. Space is limited, so sign up before we fill up! Visit our website for details and registration forms: www.dspres.org/vbs.

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WEEK of JULY 19-23 VBS will be “Out of This World” at DSUMC

At Galactic Blast VBS, cadets will voyage into outer space praising God. Through daily Bible missions, kids will see space like never before, gain a new perspective on our planet Earth, and learn easy "green" earth tips they can practice at home. VBS is offered to all children entering kindergarten through 6th grades in the fall of 2010.   Online participant registration will close on Friday, July 16th. Go to www.dsumc.org to register. Late registrations WILL be taken at the registration desk in the foyer on Monday, July 19th beginning at 8:30 am. Please join us at DSUMC for VBS, Monday - Friday, July 19 - 23rd from 9 am - Noon.                            Dripping Springs United Methodist Church • Dripping Springs • TX • 78620 • 512-894-7123 ________________________________________________________________________ MEMBER NEWS

Gracy Title Dripping Springs has moved!!! Gracy Title has moved to historical downtown Dripping Springs, 300 W. Mercer Ste. 101 (old Post Office).  Stop by and Visit.

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City of Dripping Springs Now Reserving for Events Harrison Ranch Park

Facilities are available for multiple uses. Rent the Farmhouse for special occasions, including parties, wedding and small meetings, classes and family gatherings. Farmhouse has full kitchen. Park can also be used for horse and agricultural events, trade shows, dog shows, music events, nature activities, large festivals, as a film/movie venue and much more. Beautiful grounds, working arena. Call City of Dripping Springs for more information: 512-858-4725.

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Advertise in and around Drippin’

If you would like to run an ad in the Newsletter Insert this month to email at dschamber@verizon.net. Rates are very competitive and it’s a fantastic way to get your name out. We are in a growing town and want to offer members an affordable way to advertise. They will be distributed in stores and around town. If you are one of the places that would like to have these in your office or store please let us know. __________________________________________________________

EMPLOYMENT OPPORTUNITIES

TELLER/PERSONAL BANKER

Business is great at Pioneer Bank and we are looking for an energetic, customer-service driven individual to provide teller and personal banker service on a part-time basis. Experienced individuals may apply to kelly@pioneerbanktexas.com.

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SALES/MARKETING for Audio/Video & Security Systems

Qualified candidates should have a successful record of experience in direct sales or B to B sales and live in the geographic area that they will be working. Knowledge of consumer electronics and security systems helpful and will assist in the accelerated training course we implement during the initial months of training. Applicants must have a good sense of humor, above average ethics, and the ability to work under minimum supervision after the initial training period. Interactive Security Technologies is a high quality provider of Audio/Video and Security Systems for Commercial and Residential applications, and in our 10th year of business. Please inquire via email to nfreeman@secureandsmart.com

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PT TELLER

Dripping Springs Broadway Banking Center has an immediate employment opportunity for a Part-Time Teller. Qualified applicants must possess a high school diploma or equivalent and at least 6 months cash handling experience. Successful completion of the Teller Skills Assessment Test (TSAT) will be required prior to submission of application. The TSAT can be taken at the Dripping Springs Banking Center Monday thru Friday between the hours of 9:00am – 5:00pm and on Saturdays between the hours of 9:00am – 12:00pm. For more information, please visit www.broadwaybank.com or call Esther Ramirez at (210)283-5370.

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VOLUNTEER/Website help at the Pound House

The Dr. Pound Pioneer Farmstead is looking for someone to help with their website on a volunteer basis. This involves minimal changes requiring at most a half an hour a week during regular times and could work up to as much as several hours a week a couple of weeks prior to our two largest events of the year, the Heritage Gala in May and the Fall Fest in September. If interested, please contact Marianne Simmons at 858-2030.

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OCCUPATIONAL THERAPIST/OT ASSISTANT

Family Connections Center is looking for a Full time Occupational Therapist / Occupational Therapist Assistant to work at our busy Speech, Physical, Occupational Therapy, hypnotherapy clinic. Competitive compensation and benefits. Contact Michelle or Katherine at admin@family-connections-center.com or 512-858-2507.

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MORTGAGE LOAN OFFICERS/ COMMERCIAL LOAN OFFICER

At Pioneer Bank, responsibilities include growing PB Mortgage into a leading mortgage lender throughout Austin and Hays County. Candidates will possess 2+ years of experience in mortgage loan sales is responsible for growing and managing all types of commercial loans and bank products throughout the Austin and Hays County area. Candidates will possess 5-7 years commercial lending experience, formal bank credit training and excellent written/oral communication skills. For consideration send, e-mail or fax your resume to: Attn: HR 100 Creek Rd. Dripping Springs, TX 78620 Fax: (512) 894-0176 E-mail: kelly@pioneerbanktexas.com

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Springs Family YMCA Aquatics Coordinator, 25-30 hours per week. Experience preferred. Contact Shawna at: 894-3309 or shawna.pieper@austinymca.org Weekdays and some weekends.

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Springs Family YMCA Lifeguards and Swim Instructors, part-time, weekdays and weekends, call for training dates. Experience preferred. Shawna: 894-3309 shawna.pieper@austinymca.org

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EARLY CHILDHOOD TEACHER (Fall)

Discovery Day School, a preschool at the Episcopal Church of the Holy Spirit of Dripping Springs, is looking for experienced Early Childhood Teachers to round out our staff for this Fall. Please call for more information or send resume to Melissa Milligan, mmilligan@discoverydayschool.org, 858-4924.

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NURSERY CAREGIVER & COORDINATOR

Adult needed for Nursery Caregiver and Coordinator at Episcopal Church of the Holy Spirit, Dripping Springs. Work hours: Sundays from 8:15 am-12:15 pm and special occasions. Excellent hourly wage. Call 512-858-4924 or e-mail resume to secretary@dsholyspirit.org. ______________________________________________________________________ BUSINESS WATCH

The following incidents were reported on 6-22-2010: Driftwood Area: Burglary of Business: Hays City Store at 8995 FM 3237: Front glass broken out and alcohol and cigarettes stolen.         Laurie Bain, Crime Prevention Deputy-Hays County Sheriff's Office-512-393-7373 ____________________________________________________________________________ UPCOMING EVENTS

JUNE

6/30 Englewood Estates Tour

JULY

7/3 Victory Chiropractic Bake Sale to benefit Kids Hunger

7/4 HAPPY INDEPENDENCE DAY!

7/5 Chamber office/VC will be closed

7/8 Verde’s Mexican Parrilla Summer Concert Series

7/10 “Wind, Water, & Light” Show @ Wesley Gallery

7/10 Movies under the Stars @LBJ Ranch

7/15 HC Senior Citizens Activity Center’s Annual Fish Fry

7/22 Membership Luncheon Meeting “Buying Local”

7/23 Ambassadors Meeting

AUGUST

8/7   City of Dripping Springs hosts Boot Scoot Ball at the Salt Lick

8/11 DS Area Chamber hosts “Customer Service” Training

8/23  DSISD school year begins

8/26 Membership Luncheon Meeting “State of the City”

8/27 Ambassadors Meeting

FOR MORE INFORMATION ON EVENTS, GO TO: www.drippingspringstx.org

HAVE A SAFE & HAPPY 4TH OF JULY!

WASHINGTON, D.C. (InmanNews.com) – The Senate approved an amendment to the recent tax credit bill in which homebuyers who were under contract by April 30 will receive an additional three months to finish closing and claim the homebuyer tax credit.  Extending the deadline from June 30 to September 30 will allow lenders to clear the backlog of 180,000 homebuyers nationwide who qualified for the tax credit.  The amendment does not extend the deadline for homebuyers who do not have a contract in place.

AUSTIN (Austin American-Statesman) –The Capital Area Metropolitan Planning Organization board approved the Texas 45 Southwest tollway yesterday along with other transportation projects.

The 3.6-mile, $93 million road, which would connect FM 1626 and MoPac Blvd., is part of a $28.6 billion plan that includes roads, rail, buses, sidewalks and bikeways.

The project will affect Travis, Williamson, Hays, Bastrop and Caldwell counties; however, the plan can be amended at any time.

Carlos Lopez, the Department of Transportation’s Austin district engineer, said the start date on the 2035 plan would depend on funding and environmental clearance.

Edible Austin, April 28, 2010 - www.edibleaustin.com

H-E-B is excited about the grand opening of a new store in Dripping Springs in July this summer.  In anticipation of the opening, they are hosting a Local Grower’s Gathering on May 12 from 9:30  - 11: 30 a.m. at the Dripping Springs City Hall, located at 511 Mercer Street, Dripping Springs, Texas, 78620. 

Many local growers as well as the local Farmer’s Market Board will be out showcasing their items and learning about the local buying process through H-E-B’s buying team and small producer experts.  H-E-B will experience these products first-hand and identify quality, local items to be sold in the Dripping Springs H-E-B.

Local Growers and Food Makers from the Central Texas Region – including Dripping Springs, Blanco, Driftwood, Johnson City and Wimberley – are invited to take part in this opportunity with H-E-B. Contact Tamra K. Jones, H-E-B Public Affairs - 512.421.8601 or jones.tamra@heb.com This e-mail address is being protected from spambots.

The City of Dripping Springs is proud to present the "Playday Buckle Series" at Harrison Park.  There will be six, monthly events consisting of competition among horse riders in poles, speed, cloverleaf barrels, flag race, and straight away.  There will be age groups from Pee Wee to Senior.  Entry forms are available at City Hall in Dripping Springs.  Spectators are encourage to come out to watch the competition on May 15, June 19, July 10, August 14, and September 11.  All proceeds benefit the new building plans at Harrison Ranch Park.  For more information, contact City Hall at 512-858-4725.

WASHINGTON, D.C. (Associated Press) – The recovering economy and the end of a government push to make mortgages cheaper are driving up mortgage rates, which could push home shoppers to buy before they are priced out of the market.

The average rate on a 30-year loan jumped from about 5 percent to over 5.3 percent in the past week alone. Refinancing mortgages are still available under 4 percent but only for loans that reset in five or seven years.

For each percentage point that rates rise, 300,000 to 400,000 potential buyers are priced out of the market in a given year or lose about 10 percent of purchasing power, according to the National Association of Realtors.

TEXAS (Real Estate Center, Reuters, CNNMoney.com) – A total of 13,064 existing single-family homes were sold in Texas last month, a 2 percent drop from February 2009, according to MLS data compiled by the Real Estate Center at Texas A&M University.

The median price was up 2 percent to $141,100 during the same period, and the state finished the month with a 6.9-month inventory of existing homes.

Here is how select Texas cities fared in February (data current as of March 25, 2010):

Additional home sales data for these and other major Texas cities are available on the Center's website.

At the national level, the National Association of Realtors reported this week that existing-home sales fell 0.6 percent to a seasonally adjusted annual rate of 5.02 million units in February from 5.05 million in January. That was 7 percent higher than the 4.69 million-unit pace from February 2009.

Total housing inventory at the end of February rose 9.5 percent to 3.59 million existing homes, representing an 8.6-month supply.

The national median existing-home price for all housing types of $165,100 last month, which was 1.8 percent below February 2009.

AUSTIN (Marcus & Millichap) – The prospect of a shallow economic downturn has restored developer optimism in Austin, resulting in a leap in supply this year that will hamper property operations in older assets, according to the 2010 National Retail Report by Marcus & Millichap.

Although anchors are in place at most new developments, including the 500,000-sf Domain II, lenders continue to show restraint when considering small business loans, limiting owners’ ability to fill in-line space.

“Sidelined investors with capital are poised to re-enter the retail market, although significant activity is not anticipated until mid 2010, when a pricing floor will emerge,” said J. Michael Watson, regional manager of Marcus & Millichap’s Austin office.

Some findings from the Austin Retail Research Report:

• Employers will increase payrolls by 2.5 percent, or 19,100 jobs, in 2010.
• Developers are projected to add 1.6 million square feet of retail space to the market this year, more than double deliveries in 2009.
• After a 40 basis point rise last year, vacancy is expected to push up 50 basis points to 10 percent by year-end 2010.
• In 2010, asking rents are forecast to retreat 1.3 percent to $19.68 per sf, while effective rents will slip 4.1 percent to $17.12 per sf.

AUSTIN (Austin Business Journal) – Texas expects to receive $2.25 billion for about 450 highway projects statewide from American Recovery and Reinvestment Act road construction funding.

About 320 of the projects are currently under construction.

These dollars are leveraged with state funds, including about $12 million awarded last month to Central Texas projects, according to the Texas Department of Transportation.

Nationwide, the bill signed last year is expected to pump $26.1 billion into the nation’s road infrastructure.

Vice President Joe Biden and U.S. Transportation Secretary Ray LaHood announced the funding yesterday.

AUSTIN (Austin Board of Realtors) – Area home sales in January 2010 were at 884, up 5 percent from the same month in 2009, according to the Multiple Listing Service report by the Austin Board of Realtors.

The median price remained stable in the same period, up 1 percent to $179,250.

“At this point, we can look back and see that January 2009 was the low point of this cycle. With steady improvement throughout 2009 that continued in January 2010, we can see that we’re one year into the recovery in Austin,” said John Horton, chairman of the Austin Board of Realtors.

Throughout 2009, the volume of single-family home sales in Austin improved steadily. In the first half of the year, the gap in year-over-year sales volume closed consistently, reaching levels similar to 2008 during the summer peak, with the exception of a dip in August.

In fall 2009, sales volume began outperforming 2008 and surged in October and November, spurred by the original deadline for the first-time homebuyer tax credit. In December 2009, sales volume returned to a modest increase of 5 percent compared with December 2008, a growth rate that was maintained in January 2010.

COLLEGE STATION (Real Estate Center) – Texas is experiencing its highest residential foreclosure rate since the late '80s. All residential foreclosures are governed by strict statutory rules, and Real Estate Center attorney Judon Fambrough says homeowners in jeopardy should know these rules to protect their rights.

"For example, how many days' notice must the homeowner be given to satisfy the amount in arrears before the entire amount of the unpaid loan may be declared due and owing?" Likewise, Fambrough said, "What are the qualifications, if any, of the person who conducts the foreclosure sale? How many times a year can a foreclosure sale occur, and on which day of the week, and during what hours?"

These and other questions are answered in “A Homeowner’s Rights under Foreclosure," available on the Center's website.

http://www.camplucy.com/story.html

Twenty five years ago, Lucy and Roger Hanks purchased an undeniably beautiful piece of property on Onion Creek in Dripping Springs, Texas. It became a place where their son, Whit Hanks, and his family were able to experience idyllic weekends and cherished holidays. Here, Whit’s father taught granddaughter Louise how to drive—first on the ranch, and then on the country roads nearby. Grandfather and grandson Roger built all sorts of things together—a go-cart, a tree house, and a cable trolley (that ended up in the creek). The grandchildren learned how to hatch a goose egg, dive for rocks, and feed the Longhorn cattle.

When Whit’s now adult son Ian moved to Asia a few years ago, it would lead to an odyssey that, quite unexpectedly, would marry this Texas ranch with French Colonial buildings from Vietnam, and inspire Whit to open up the family’s “Camp Lucy” so others could experience the Hill Country dream.

Upon Ian’s suggestion, Whit visited Asia, including Hanoi in Vietnam. It was here he developed an appreciation for Vietnamese antiques, especially pieces from the French Colonial period. In an era that ran from roughly 1870 to 1950, France colonized Southeast Asia and, ultimately, developed Hanoi as the regional capital. The influence of France, a traditionally Catholic country, led to the conversion of many Vietnamese. After buying several hundred French Colonial figures of Catholic saints and importing them to his Austin antique store, Whit asked his trusted Vietnamese agent, Lai Manh Hung, how it came to be that so many of these actually quite rare antique figures happened to come on the market.

Whit learned that while the Catholic influence ebbed in the wake of the withdrawal of France in the 1950s, today, thanks to new leaders and new foreign investment, the Catholic Church is seeing a resurgence of interest and prosperity in Vietnam. Reinvigorated and refinanced, each village in the Catholic regions now seeks to upgrade their French Colonial-era church with a larger, modern church; when the older churches are sold, the saints are included with the purchase.

In December 2007, Whit and his wife Alison traveled to Vietnam to see some of the churches available for purchase. As a result of that visit, and after a long sea voyage, the first building arrived in America. Carefully disassembled and packed in sea-land containers, all the timbers and tiles had been painstakingly photographed, labeled, and provided with a diagram and video to show how the church would go back together for its new life in Dripping Springs. Along with the arduous task of reassembly, a new bell tower, based on the shape of other churches in Vietnam, was built by hand using stones harvested from the Camp Lucy property.

 About halfway through the restoration of the first chapel, Lai Manh Hung contacted Whit to let him know that another French Colonial church was available. This larger structure, with massive ironwood timbers, would be reborn in Dripping Springs as an open-air pavilion, a tribute to the joy of being outdoors at Camp Lucy. Also around this time, Whit heard rumor that the original 1920s Ludowici tile from the Bexar County Courthouse in downtown San Antonio might be available, as the courthouse was getting a new roof. Whit found the deep, green glaze of these antique tiles evoked an exotic feel and added an energy to the development. Installation of the Ludowici roof tiles is underway and once installation is complete, these will be the crowning glory for the pavilion.

Today, as Camp Lucy prepares to open the gates for weddings and special events - as the Old World-inspired battered brick courtyard is laid and copper gutters hung, catering kitchen rocked and stone arch raised - a dream shared comes closer to reality…

We hope you enjoy the events in our area!

Dec 11-13, Luminations, The Ladybird Wildflower Center, 4801 La Cross Ave, Austin, www.wildflower.org

Dec 11-24, Armadillo Christmas Bazaar (Arts & Crafts Show) 11am to 11pm at the Austin Convention Center, www.armadillobazaar.com

Dec 12 - Dripping Springs Christmas Home Tour, sponsored by the Dripping Springs Community Library, 10am-5pm, visit or call the Library for tickets

Dec 13 - First Annual Mustang Mare-y Christmas Barn Tour, Dripping Springs, benefit for the Mustang Rescue, noon - 5 pm. call 512-894-0105 for information, http://www.texash2oasis.org/

Dec 13-23 - Trail of Lights, Zilker Park, Austin

Dec 15 - Hoiday Concert "Christmas Sing-Along" free!  Families gather to joyfully sing along with the Austin Symphony and chorus 8pm, Austin Long Center, www.austinsymphony.org

Music, food, and great gift items from local artists and retailers!  See the link below for more information. 

Dripping Springs Womens Club

Mr Thompson presented a very informative presentation to the Dripping Springs Women's Club on October 21st.  He has made a presentation in the last three years, giving updates on the local commercial developments, subdivision developments, planned developements, road construction, and so much more!  Dripping Springs is changing, and he is a wonderful resource for the community on the current activity and potential plans for the area. 

Avalon Park affiliate plans $120M project

Orlando Business Journal

A joint venture that includes Avalon Park’s developer is working on plans for a 100-acre, mixed-use project near Austin, Texas.

Avalonpark Texas LP, a partnership between Orlando-based Avalon Park Group Management Inc. and Texas investor Richard Kunz, is seeking planned-development approval from the city of Dripping Springs for the $120 million project, Kunz told Orlando Business Journal. The item has yet to be scheduled for a meeting yet, but Kunz said he expects approval within the next six to nine months.

The plan includes 240 residential units — single-family homes, duplexes and townhomes — 100 apartments, 500,000 square feet of commercial space, and a church, along with about 210 beds divided into an assisted-living facility and nursing home.

The Avalon Park Texas plan is the second phase of the redevelopment of a 245-acre ranch in Dripping Springs, Kunz said. The first phase, which was developed by another firm, includes 55 high-end residential lots on about 105 acres, he said.

Austin Business Journal, September 21, 2009

The Texas economy is predicted to begin a slow, steady recovery in 2010, according to an economic report released Monday.  After a small contraction in 2009, the state’s gross domestic product is expected to increase by 1.7 percent in 2010, aided in part by a surge in home sales, according to economists with BBVA Compass. The GDP of the entire country, by contrast, is predicted to increase by only 0.2 percent next year.

Newstreamz.com - San Marcos, August 20, 2009

By SEAN BATURA
News Reporter

New Hays County development regulations went into effect Tuesday, imposing tougher requirements on some Hays County residents who wish to subdivide their land, install septic tanks and build on floodplains, among other related activities.

The regulations didn’t pass without last-minute consultations between county commissioners and attorneys to be sure the new provisions can stand up to legal challenges.

The new development regulations, three years in the making, were finalized after months of public meetings in which residents debated the economic and environmental merits of the proposed rules.

Commissioners settled on a six-acre minimum lot size for new subdivisions served by individual private water wells and located in the Hill Country Priority Groundwater Management Area (PGMA), doubling the previous minimum. Water conservation advocates asked commissioners to pass an even larger minimum lot size, while property rights advocates asked the commissioners to at least stay near the previous minimum.

“The problem is you can’t pay as much for the raw land if it’s reduced in terms of the ultimate, salable units,” Dripping Springs resident W.F. Smith said at Tuesday’s commissioners court meeting. “It’s like anything, whether you’re making cookies or cars. If you can’t sell the car for more money than your raw materials cost, your raw materials have to go down. That’s what these rules do, is restrict growth. That’s the goal.”

Before the court approved the development regulations, Smith warned that the Takings Impact Study, a document required by the Private Real Property Preservation Act (PRPPA) and created by consultant Naismith Engineering in December, is flawed because no one associated with the Texas Real Estate Commission or the Texas Appraisal and Licensing Board was hired to examine the new regulations’ effect on the market value of the county.

“Those are the people that are qualified in the State of Texas to offer opinions of value, not engineers,” Smith said.

Smith said a complaint had been filed with the Texas Appraiser Licensing and Certification Board over Hays County’s new development regulations. In response, Naismith Engineering consultant Grant Jackson, the county’s consultant on the new regulations, directed the court’s attention to a provision of the PRPPA exempting government actions that are “under the political subdivision’s statutory authority to prevent waste or protect rights of owners of interest in groundwater.” The PRPPA also exempts government actions that are “designed to significantly advance the health and safety purpose.”

However, Smith’s comments prompted commissioners court members to make last-minute consultations with attorneys before finally passing the regulations, despite a document published by the commissioners court less than two weeks ago that claimed the proposed regulations are in accord with state and federal law.

The county has thus far paid $46,345 to Naismith Engineering for work on the development regulations. Jackson told commissioners Tuesday that Texas Commission on Environmental Quality (TCEQ) regulations may require minimum lot sizes higher than six acres in certain instances.

“That really concerns me,” said Hays County Precinct 1 Commissioner Debbie Ingalsbe (D-San Marcos). “That’s one of the issues that I hope we can work through.”

Ingalsbe had expressed concern during the last few months about the minimum lot size resulting in many properties being priced too high.

“This has been a difficult decision for me,” Ingalsbe said. “I’ve talked about affordability - a big issue for me. But one word continued to pop into my mind: sustainability. I am going to be supportive of the lot size. Is this the answer to the problem? No, not by itself. This has been a struggle in my mind. I don’t come to this decision lightly at all.”

Hays County Precinct 3 Commissioner Will Conley (R-San Marcos), who had long expressed support for a five-acre minimum lot size, called the new regulations “a living document,” with issues that need to be resolved to protect land value and promote operational efficiency.

“I have no doubt we will have some (rules) that are flawed and wrong as we move forward … but it’s an organic document,” said Hays County Precinct 2 Commissioner Jeff Barton (D-Kyle). “We can adapt.”

Residents from western Hays County in the past few months have appeared before the commissioners court to give accounts of wells gone dry and declining springs, which, they said, are partly the results of too many people pumping water out of the Trinity Aquifer.

“Lot sizing has to do not with business plans, not with other things,” said Driftwood resident Susan Cook at the Aug. 4 commissioners court meeting. “It has to do with aquifer recharge. It has to do with whether or not a piece of land can replenish with rainwater the amount of water that’s going to be pumped out by the family that lives on that property. And that’s the only thing that you should be considering, is aquifer recharge.”

The Trinity Aquifer lies beneath the region of Hays County encompassed by the Hill Country PGMA. Nine counties, including more than half of Hays County, lie within the PGMA. A PGMA is a zone the TCEQ finds is “experiencing, or is expected to experience, within 25 years, critical groundwater problems including shortages of surface water or groundwater, land subsidence resulting from groundwater withdrawal, and contamination of groundwater supplies.”

Henly resident Jimmy Skipton appeared at the same meeting to support a smaller minimum lot size than was adopted. At another commissioners court meeting in June, Skipton said the government currently allows his 137-acre tract to be subdivided into 1.5-acre lots. He said his family’s welfare may someday depend on them getting the best possible price for their land.

“If I came in here and said, ‘Let’s increase our tax base by 40 percent,’ y’all would say ‘You’re crazy, we’re not doing that,’” Skipton said at the meeting two weeks ago. “(If I said) ‘Let’s go up eight cents per $100, I think we need the money,’ Y’all would say, “We can’t, that’s way too much.’ But you’re sitting here willing to take our lot sizes up four hundred percent, and everyone seems to think that’s OK, (that) it isn’t a tax. But it is on me.”

The six-acre minimum lot size requirement would not apply to subdivisions of five lots or less in which all lots average at least two acres, or to subdivisions that are ten lots or less in which all lots are larger than ten 10 acres. Previous regulations specified minimum lot sizes in the PGMA of 1.5 to two acres for well owners with advanced wastewater systems and two to three acres for owners with conventional systems in the PGMA, depending on whether the land is also in the Edwards Aquifer Contributing Zone. The proposed minimum lot size requirement would also apply to new manufactured home communities.

Conley said last week that he was most comfortable supporting a five-acre minimum lot size, but had told his colleagues he could compromise at 5.6 acres. He said he was most concerned with the “smaller people.”

Said Conley, “We can develop rules all day long that cover large developers and developments - those are easy rules to do. They have professional teams, they have lawyers and engineers and everybody that can work through our rules and make it work for them - within reason, of course. Within reason. But it’s these smaller family-owned, family-oriented (people) that are caught up in a lot of the rules and regulations, that are usually hurt and squeezed the most and can’t work through it.”

Barton (D-Kyle) said last week that he preferred a 5.61-acre minimum lot size.

“Even going to five would be huge,” Barton said last week. “Because currently, up in the western part of the county, it’s a two-acre minimum. We long ago imposed - I led the effort 10 years ago to impose a much higher standard over the Edwards (Aquifer recharge) area in the eastern part of the county, where in similar kinds of lots using wells and septics, we already have a five-acre minimum. And we were the first county in the state to go there. The rules were groundbreaking rules when I led the effort to write - I actually did write much of what was in it, because we didn’t have money for a consultant back in those days.”

An earlier version of the proposed development regulations specified a minimum lot size of 6.5 acres. The governing body of the Hays Trinity Groundwater Conservation District (HTGCD), which the state created to manage groundwater production in the Hays portion of the PGMA, supported a nine-acre minimum lot size. HTGCD’s wishes were thwarted when Naismith Engineering recommended 6.5 acres to the commissioners court.

Two HTGCD board members said the calculation resulting in the 6.5-acre figure assumes 75 percent of rain entering the aquifer should be reserved for human use. They said a Texas Water Development Board report by Robert Bluntzer recommends that 10 percent of recharge be reserved for pumping. HTGCD Board Member Andrew Backus (District 3) said Bluntzer recommended minimum lot sizes of 25 acres in the Hill Country.

At around 11:30 p.m. on July 21, after more than five hours of development regulations discussion and public comment at Wimberley City Hall, Ford challenged her colleagues to support a minimum lot size requirement of six acres. With midnight approaching and only 20 people left in the room out of the original 200 or so, commissioners court members were not yet ready to come to a consensus. At the same meeting in Wimberley, Hays County Judge Liz Sumter (D-Wimberley) joined Ford in supporting six acres, though she said her preference was nine acres.

Sumter said last week that the minimum lot will probably be increased in future years to be in accord with the planning efforts of the Texas Water Development Board (TWDB). In the next year, the TWDB will issue a managed available groundwater number that will set a threshold for the number of water pumping permits issued by the Hays Trinity Groundwater Conservation District, which has imposed a moratorium on issuing new permits.

“Existing groundwater supplies — the amount of groundwater that can be produced with current permits and existing infrastructures — are projected to decrease 32 percent between 2010 and 2060, from about 8.5 million acre-feet per year to about 5.8 million acre-feet per year,” states the TWDB’s latest State Water Plan. “Groundwater availability — the amount of water from an aquifer that is available for use as determined by the planning groups — is projected to decrease 22 percent, from 12.7 million acre-feet per year in 2010 to 9.9 million acre-feet per year by 2060.”

Another controversial provision in the new regulations is a requirement for landowners developing property 50 acres or greater, or land with 50 or more dwelling units planned, to allow certain government entities to install and maintain groundwater monitoring wells on the property. Costs associated with the wells will be borne by the government entities that install them.

The federal tax credit for first time home-buyers expires December 1, 2009.  The program allows for a tax credit of 10% of the purchase price of a home up to $80,000 for a maximum benefit of $8000.  The credit is not required to be repaid UNLESS the home is resold within 36 months.  The program is available to any qualifying citizen or resident alien who as not owned a home as a primary residence in the last three years.  Individuals with a modified adjusted gross income of up to $75,000 per year qualify for the full credit.  Couples can qualify for the full credit with an adjusted income of up to $150,000.  Visit www.MyFirstTexasHome.com for more details.  Inventory is up!  Prices are not rising!  Now is a GREAT time to buy!

After many years of collaboration and careful planning, H-E-B and the City of Dripping Springs today announced that the groundbreaking for the city's first major made-to-order grocery store will take place in late fall 2009, with the grand opening in 2010. The new store, conveniently located at the southeast corner of the Highway 290 and Rob Shelton Boulevard intersection, will feature both H-E-B and Central Market products requested by residents of Dripping Springs and the surrounding towns. This H-E-B will create a local destination for unsurpassed freshness, quality, variety and service while keeping H-E-B's pledge to offer everyday low prices.

"H-E-B's new Dripping Springs store incorporates years of research and planning, but most importantly community input and insight. Our future customers helped us create an ideal destination grocery store. After years of hard work, we are thrilled to see our vision on paper become a reality for the community," said Jeff Thomas, senior vice president and general manager, H-E-B Central Texas Region.

With more than 68,000 square feet inside the store, H-E-B will offer the largest meat market in the area, offering USDA prime, organic and natural meats; one of the largest seafood departments in the area with fresh fish deliveries and a wide selection of wild and local catches; a full-service sushi bar made in-store daily; fresh fruits, vegetables and expanded organic offerings with thousands of Organic and Natural products; a full-service bakery, complete with a wide selection of organic and artisan breads baked fresh daily; and an expanded cheese selection filled with specialty and imported cheeses. The new store will also see an increased offering of Central Market products to meet the special requests made by future customers.

Non-food highlights include the addition of more than 9,100 square feet of leasable retail space, a pharmacy with a convenient two-lane drive thru; a gas station including diesel, which was added by special request for future customers; a car wash; a full line of cosmetics; and a floral department featuring quality fresh flowers and plants.

Convenience and service will supplement the new store with a large assortment of Central Market products and H-E-B brand products. All components will work together to create an exciting, sensory and engaging shopping experience unique to the H-E-B in Dripping Springs.

The new H-E-B store is part of a development project along with Barshop & Oles Company and Home Depot. Home Depot, Chase Bank, and Broadway Bank are open, with two remaining sites available.

The new store will be staffed with approximately 300 knowledgeable Partners (employees) that make the shopping experience an outstanding one for customers. Produce experts will provide fresh samples of fruits and vegetables to educate and delight shoppers, while seafood experts, master bakers, artisan cake decorators and certified, trained meat experts will be on-hand to teach customers.

"We're thrilled that H-E-B will become a vital part of Dripping Springs and can't wait to celebrate the grand opening next year," said Dripping Springs Mayor Todd Purcell.