Local News

AUSTIN (Austin Business Journal) – Texas cities have dominated Forbes’ list of fastest growing cities, with one city taking the top spot for the third straight year.

With a 2012 population growth rate of 2.8 percent, Austin is America’s fastest growing city, according to Forbes and data from the U.S. Census Bureau.

Houston came in second behind the capital city with a 2 percent growth rate. Dallas took third, with San Antonio trailing at ninth.

Other top U.S. cities on the list include Raleigh, N.C. (4), Salt Lake City (5) and Seattle (6).

Would you like to participate in the future of your hometown?  The next meeting for this group is scheduled for January 17, 2013, at 6:30 PM at the DS High School.  Don't miss out!

Dripping Springs - Sustainable Places

Check out the following article for the good news!

http://www.austinhomesearch.com/pages/austin-market-update

Here’s a quick recap from the recent Chamber report on jobs!

Job Growth

• Austin ranks number three in the nation in job growth with a 3.5% change over the last 12 months resulting in 28,200 new jobs. Public and all private sectors added jobs.
• Texas had a combined public/private sector job growth rate of 2.6%. Four out of the top 10 cities for job growth were in Texas with Houston the number one growth market in the US
• US showed an overall job growth rate of 1.4%

Number of Jobs

• Austin has now added 44,200 jobs from it’s peak employment on November 2008
• Texas has added 248,800 jobs from its peak employment on November 2008
• The US remains 4.3 million jobs short of peak employment set on November 2007 (60 months ago!)

Unemployment Rate

• Austin has the second lowest rate of unemployment out of 50 largest metros at 5.3% vs 6.6% this time last year. (Houston by comparison dropped from 7.7% last year to 6.2% this year. Within the AUSTIN MSA, Travis and Hays counties have the lowest unemployment rate with 5.2%).
• Texas’s unemployment rate is 6.3% compared to 7.6% last October.
• The US October unemployment rate is 7.5% vs 8.5% last year.

Employment by Industry

• Austin’s fastest growing segment over the last 12 months: Professional and Business Services – 10,700 jobs (or 9.1%)
• Texas’s fastest growing segments over the last 12 months: Both Construction and Natural Resources grew by 7.1%.

More people are seeking greener pastures in Austin, relocating to the Capital City at a rate faster than nearly every other US city.  Austin ranked second in THE FISCAL TIMES list of "The Ten Top Cities People are Moving to in 2012", following Kennewick-Pasco-Richland, Wash.  Between April 2010 and July 2011, Austin grew 3.9%.  Strong private-sector business activity is credited for Austin's rapid population growth (RECON 2012)

Jobs, jobs, jobs...we are so much in the limelight for that robust engine we've got going.  According to the latest Manpower Employment Outlook Survey published this week, Austin has the 5th best employment outlook in the USA.  Manpower surveyed more than 18,000 employers across the country for this latest employment outlook. 

An analysis by ON NUMBERS, a division of BizJournals.com, reported this week the Austin are had the second highest number of private sector jobs and sustained the highest percentage of job growth since July 2007. 

Join us for the fun & food at this annual fundraiser for the Dripping Springs Chamber of Commerce!

Click the link below for details!

Dripping Springs - Wine, Food, and Fun!

Visit the DS Babble for more information about providing your input to the proposed walking trail in the city limits of Dripping Springs!

Proposed Walking Trail

RECON - Real Estate Center at Texas A&M - Real Estate Center Online News -June 22, 2012

AUSTIN (Austin American-Statesman, Houston Chronicle) – Austin and Houston were among the Texas cities that reported increases in existing home sales and median home prices last month.

Austin had a 25 percent jump in existing home sales in May, according to the Austin Board of Realtors. The month’s 2,340 sales were the highest since August 2007. The median home price grew 10 percent to $215,000.

Houston-area sales in May jumped by 23.8 percent over May 2011, with agents reporting 6,185 single-family homes sold. The median price for single-family homes set a new record in May, up 7.1 percent to $168,000.

Meanwhile, home inventory is down in both cities. Listings fell 23 percent in Austin to a 4.4-month supply of homes, compared with a 6.8-month supply a year ago. Houston’s inventory reached a five-year low, dropping to 5.5 months. 

Foreclosures are also making up a smaller portion of Houston property sales than before, dropping from 27.8 percent of sales in January to 17.8 percent in May.

Real Estate Center Research Economist Dr. Jim Gaines will provide an overview of how the state's housing market is faring on next week's Real Estate Red Zone podcast.

RECON, Real Estate Center Online News, June 5, 2012

AUSTIN (Marcus & Millichap) – Austin’s commercial real estate sector continues its upward trend, according to a recent report by Marcus & Millichap Real Estate Investment Services Inc.

Some report highlights:

• Employment growth here will reach 27,000 jobs this year, expanding payrolls by 3.6 percent, one of the strongest growth rates in the country. The market’s ties to technology will generate over 5,000 professional and business services jobs and nearly 1,000 manufacturing jobs.
• Builders will complete 930,000 sf of retail space this year, expanding inventory by 1.7 percent. Besides new developments within the metro, operators will compete with the two million sf of new space under construction adjacent to the metro.
• This year, retail vacancy will fall to 8.4 percent, an annual decrease of 50 basis points. Retailers will absorb 1.1 million sf of space, the largest annual figure since 2007.
• Owners will regain some leverage during lease negotiations this year, facilitating a 1.1 percent rise in asking rents to $19.69 per square foot. Effective rents will tick up 1.6 percent to $17.73 per sf, pulling concessions down to 10 percent of asking rents.

The Central Texas market continues to improve! 

See the Austin America Statesmen article:

Dwindling inventory, higher prices?

Low interest rates present a rare window of opportunity!  Read on!

Vacation Home Opportunities!

Price & Proximity of vacation homes

Cash for a vacation home?

Vacation Homes

RECON

COLLEGE STATION (Real Estate Center) – Home sales in Texas cities were hot last month, rising in Austin, Dallas-Fort Worth, Houston and San Antonio.

According to the Multiple Listing Service (MLS) report by the Austin Board of Realtors, 1,852 single-family homes were sold in the Capital area during March, up 15 percent over the same period in 2011.

The Dallas-Fort Worth region reported a 13 percent increase in single-family home sales, with 6,126 properties sold in March, according to a report from the MetroTex Association of Realtors.

The Houston Chronicle reported 4,996 single-family homes sold in Houston in March, up 7.8 percent from the 4,634 homes sold during the same month last year.

San Antonio also showed improvements in March, according to the San Antonio Board of Realtors, with 1,637 homes sold in the area, up 4 percent month-over-month.

The median sales price rose to $200,000 in Austin, up 8 percent from March 2011. The median price in DFW jumped 11 percent to $155,000, with San Antonio reporting a 4 percent increase to $155,600. The median sales price in Houston set a monthly record in March at $161,750.

AUSTIN (Austin American-Statesman) – The state comptroller's estimate of statewide property values showed an increase from $1.67 trillion in 2010 to $1.69 trillion in 2011 — a 1.3 percent difference.

According to the Austin American-Statesman, state budget writers had expected property values to drop 1 percent last year.

Property values affect how much funding schools receive, and although Joe Wisnoski of Moak Casey & Associates, a school financing consulting firm, said the increase will likely make "very, very little difference in the bottom line of school districts," others say it could still be a positive sign for Texas.

"We're certainly above the trend line across the board, but it's still early," said Dale Craymer, president of the business-backed Texas Taxpayers and Research Association. "If current trends hold, we will be in relatively good shape."

RECON  - Real Estate Center Online News

January 17, 2012

AUSTIN (Texas State Affordable Housing Corporation) – The Texas State Affordable Housing Corporation's (TSAHC) first-time homebuyer programs now include grants to help buyers cover down payment and closing costs.

Homebuyers who qualify for TSAHC's Professional Educators, Homes for Texas Heroes or Home Sweet Texas Home (click here for a list of who qualifies under each program) can receive a grant of 5 percent of the loan amount. The grant can be applied toward down payment and closing costs.

In addition to qualifying for one of these programs, the person must be a first-time homebuyer, or not had an ownership interest in any residence during the last three years; meet the income and home purchase price limits; complete a HUD-approved homebuyer education course before closing on the loan; and reside in Texas.

Eligible homebuyers can apply directly through an approved participating mortgage lender in their area. For a list of participating lenders, visit TSAHC's website or call TSAHC at 888-638-3555

City is one of five in Central Texas to participate in two-year planning project.

Cities either grow or die, and sometimes they have a hard time either way. For a growing exurb like Dripping Springs, the trick is planning for smart and inevitable growth.

Dripping Springs is one of five Central Texas cities that last year were selected for a federal grant administered by the Capital Area Council of Governments to study the unique and common challenges of growth.

About $2.5 million will go for a "scenario planning analytics tool." The second-largest expense will be about $500,000 to craft development scenarios, host public events and the like. The project will take about two years.

Chad Coburn, director of the council's Sustainable Places Project, said the city will look at how it might get various city codes to work together in a more "synergistic fashion."

"And we thought Dripping Springs might be a good place for a closer look at environmental issues, how development in the Hill Country could be best done in a green manner," Coburn said.

Other cities selected for the project include Lockhart, Elgin, Hutto and Austin.

"The challenge we face is how to manage the growth smartly, and in a way that keeps the growth compact to the core of the city, while expanding out from the center," Dripping Springs Planning Director Jon Thompson said in a statement.

"While working with the citizens of the community, the landowners and other stakeholders in the demonstration area, the city's goal will be to look for collaborative ways of integrating citizen input within the scope and bounds of the city's comprehensive plan, and in a way that meets the needs and challenges of a city on the grow," the statement said.

pbeach@statesman.com; 445-3603

AUSTIN (Texas Real Estate Commission) – As of Jan. 1, applicants for a broker license must have four years of active experience as a licensed salesperson, up from the previous two-year requirement.

Under this new rule, which was adopted last fall by the Texas Real Estate Commission (TREC), an applicant must document experience in each of four years out of the five-year period immediately before the application is filed, or be able to satisfy these requirements by the end of one year after the application is filed.

While an applicant has up to a year after filing an application to meet all education and experience requirements, an applicant cannot take the broker examination until all education and experience requirements have been met.

“As a result of these rule changes, consumers in the state of Texas can be more confident when working with real estate brokers in the future," said TREC Administrator Douglas Oldmixon. "These new requirements will ensure that real estate brokers will have the broad based knowledge that comes from transactional experience.”

SAN ANTONIO (San Antonio Express-News, Milken Institute) – Milken Institute just released its "Best-Performing Cities" index for 2011, and Texas is everywhere you look.

Nine Texas MSAs landed in the top 25 on the institute's list of 200 largest metros, and four of those ranked in the top five, including number one San Antonio.

Others on the list were El Paso (2), Austin–Round Rock (4), Killeen-Temple-Fort Hood (5), Houston-Sugar Land-Baytown (16), McAllen-Edinburg-Mission (18), Dallas-Plano-Irving (20), Fort Worth-Arlington (24) and Lubbock (25).

The state's smaller metros didn't do too shabby either, with five among the top 25: College Station-Bryan (4), Longview (9), Waco (12), Tyler (20) and Midland (22).

While it's good news for Texas to do so well on in index that is based largely on employment growth, Real Estate Center Research Economist Dr. Jim Gaines said the state looked good mainly because other states didn't.

“Our growth rate and advancement isn't all that wonderful,” Gaines told the San Antonio Express-News. “We've managed to stay flat or have very small positives. But because everybody has so many negatives, we look so much better.”

Texas accounted for one in every five jobs created in the country between June 2010 and June 2011, reported the Express-News. Houston and Dallas alone were responsible for one in every ten new jobs in the country.

NORCROSS, Ga. (Site Selection) – Texas has claimed the top slot in Site Selection magazine's "Top Business Climate 2011" contest.

The Lone Star State finished strong in the objective, data-driven component of the index used to determine the top business climates, as well as in the subjective input supplied by respondents to the magazine's annual executive survey of site selectors.

One survey respondent commended Texas for being "a pro-business, entrepreneurial, right-to-work state." Another applauded the state's tax climate, regulatory environment, incentive programs and work-force development efforts.

Site Selection reported that 40 percent of the new U.S. jobs created since June 2009 were created in Texas. A ranking by NewGeography.com supports that.

That site's "Best Cities for Job Growth 2011" rankings look at employment data over time across three population tiers. In the small metros category, Killeen-Temple-Fort Hood placed first, College Station-Bryan third and Midland fourth. El Paso placed first in the midsize tier, followed by Corpus Christi and, in fourth, McAllen-Edinburg-Mission. In the large tier, Austin-Round Rock-San Marcos placed first, Houston-Sugar Land-Baytown third, San Antonio-New Braunfels fourth and Dallas-Plano-Irving fifth.

Those jobs mean demand for office space, another area in which Texas has stood out. Houston, Austin and Dallas finished in the top ten markets nationally in office space demand, according to an analysis by national real estate services firm Cassidy Turley. The firm found those three markets alone accounted for nearly 20 percent of all net demand in third quarter 2011.

"Other markets in Texas are also positive," said Kevin Thorpe, chief economist with Cassidy Turley. "The U.S. is a mixed-bag story, with many negative markets and many positive markets. In Texas, it's positive across the board."

We now have over 50 vendors - save the date & get started on your Christmas shopping in Dripping Springs!

COLLEGE STATION (Real Estate Center) – Texas was responsible for 19.4 percent of the total jobs created nationwide from September 2010 to September 2011, according to the Real Estate Center's latest Monthly Review of the Texas Economy.

Texas gained 248,800 nonfarm jobs during the period, an annual growth rate of 2.4 percent compared with 1.1 percent for the United States.

The state’s private sector added 281,400 jobs, an annual growth rate of 3.3 percent compared with 1.7 percent for the nation’s private sector.

Texas’ seasonally adjusted unemployment rate increased to 8.5 percent in September 2011 from 8.2 in September 2010. The nation’s rate decreased from 9.6 to 9.1 percent.

All industries except the information industry and the state’s government sector had more jobs in September 2011 than in September 2010. The state’s mining and logging industry ranked first in job creation, followed by construction and the professional and business services industry.

All Texas metro areas except Abilene, Wichita Falls and Killeen-Temple-Fort Hood had more jobs in September 2011 than in September 2010. Victoria ranked first in job creation, followed by Corpus Christi, Laredo, Odessa and College Station-Bryan.

The state’s actual unemployment rate in September 2011 was 8.4 percent. Midland had the lowest rate followed by Amarillo, Odessa, College Station-Bryan and Lubbock.

The report was written by Research Economist Dr. Ali Anari and Chief Economist Dr. Mark Dotzour.

Local business owner Pam Owens has sold Print Plus!  She has served the community with this business for over 10 years, and we wish her the very best! The new owner will move the location of the "new" store to where Ruby's Emporium is currently located next to the Shell Gas station.

BASTROP (Texas Forest Service) – Dallas-based Meadows Foundation is donating $850,000 toward Bastrop County's wildfire recovery efforts.

The gift will be shared with the Texas Parks and Wildlife Department (TPWD), Texas Forest Service (TFS), the American Red Cross, the Salvation Army, the Society of Prevention of Cruelty to Animals of Texas and the Austin Humane Society.

TPWD’s share of the money will be used to replace some department-owned fire-fighting equipment lost in the fire, along with two pickup trucks and one all-terrain vehicle destroyed in the fire, and for hazard mitigation and erosion control efforts at the state park.

A large part of the money will go to TFS as pass-through funding to volunteer fire departments not only in Bastrop, but across the state.

In other wildfire news, more than a third of the nearly 36 million cubic feet of timber killed earlier this year by fires in Grimes, Jasper, Trinity and Polk counties has been salvaged, according to TFS analysts.

The timber will be used to produce up to $110 million worth of products, including homes, furniture and paper, the creation of which will spur roughly $241 million worth of total economic activity in East Texas.

Dripping Springs ISD faces tough budget decisions for  2011-2013:

DISD 2012 Budget recommendations.pdf

This is a very informative pamphlet that shows you how to create a "defensible space" around your property.

Please take extra care during the current burn ban in Hays County!

Wildfire Pamphlet.pdf

Check out the latest information!

Sleep Inn Dripping springs

COLLEGE STATION (Real Estate Center) – The Texas economy continues to outperform the U.S. economy, according to the Real Estate Center's latest Monthly Review of the Texas Economy.

From March 2010 to March 2011, Texas gained 237,900 jobs, an annual growth rate of 2.3 percent. Over the same period, U.S. nonfarm employment rose 1 percent.

The state’s private sector also exceeded U.S. figures, posting an annual employment growth rate of 2.7 percent compared with 1.6 percent for the U.S. private sector.

The state’s seasonally adjusted unemployment rate fell from 8.2 percent to 8.1 percent. The nation’s rate decreased from 9.7 to 8.8 percent.

All Texas industries except financial activities and information industries had more jobs in March 2011 than in March 2010. All Texas metro areas, except Abilene, Brownsville-Harlingen and Laredo, had more jobs. Petroplex Odessa ranked first in job creation followed by Midland, Longview and Dallas-Plano-Irving.

The state’s actual unemployment rate in March 2011 was 8.1 percent. Midland had the lowest unemployment rate followed by Amarillo, College Station-Bryan, Lubbock and San Angelo.

Watch for our float that displays "The Best in Dripping Springs"!  We'll also have a booth on Mercer street (#25 & 26)  Come visit the booth and spin the wheel to win a prize!  All proceeds benefit Helping Hands!

Check out the link for all the activity this weekend!

Founders Day 2011.pdf