Local News

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

The Education Foundation will hold it's annual event this Friday, February 25 from 7pm-11pm at Creekside Pavilion in Driftwood. The program includes dinner, drinks, live music, silent auction and casino-style gaming tables. The DSISD Educational Foundation provides scholarships to students with high academic achievement and awards grants to educators in the district to enhance the classroom experience.  Tickets are $75 per person and can be purchased at Cattleman’s National Bank, online at dseducationfoundation.org, or contact donna@gracytitle.com .

MINORITIES FUEL TEXAS' GROWTH SPURT

WASHINGTON, D.C. (U.S. Census Bureau, Texas Tribune) – Texas' population increased by 20.6 percent during the last decade, with minorities accounting for 89 percent of the growth.

According to data released yesterday by the U.S Census Bureau, the state's Hispanic population grew by 42 percent between 2000 and 2010. They made up 37.6 percent of the state's more than 25.1 million residents last year. The black population grew by 22 percent and accounted for 11.8 percent of last year's population.

The white population increased by 4.2 percent and accounted for 45.3 percent.

Asians made up 3.8 percent of the state's total population last year.

The following tables show population increases for certain Texas cities and counties.

COLLEGE STATION (Real Estate Center) – Texas’ economy gained 174,900 jobs from October 2009 to October 2010, according to the Real Estate Center's latest monthly review of the state's economy.

That's an annual growth rate of 1.7 percent. The U.S. economy gained 626,000 jobs, an annual growth rate of 0.5 percent, over the same period.

The state’s private sector posted an annual employment growth rate of 2.1 percent compared with 0.9 percent for the U.S. private sector from October 2009 to October 2010.

The seasonally adjusted unemployment rate for Texas was 8.1 percent in October 2010, the same as in October 2009, while the nation’s rate decreased from 10.1 to 9.6 percent over the same period.

All Texas industries except the trade and information industries and the government sector had more jobs in October 2010 than in October 2009. The state’s mining and logging industry ranked first in job creation followed by the state’s professional and business services, manufacturing, and education and health services industries.

All Texas metro areas except El Paso and Lubbock had more jobs in October 2010 than in October 2009. Austin-Round Rock-San Marcos ranked first in job creation followed by Odessa, McAllen-Edinburg-Mission, Texarkana, and Brownsville-Harlingen.

NEW YORK (Forbes) – Three Texas cities made Forbes’ list of ten most affordable U.S. cities.

San Antonio came in sixth with Houston right behind at seven. Austin claimed the final spot on the list and was noted as one of the nation’s hottest cities for high-tech jobs.

Forbes attributed the number of Texas cities on the list to the state’s business-friendly climate, rich natural resources and stable housing economy.

“The state (as a whole), and Houston and San Antonio (in particular) are deriving significant income from domestic in-migration. People are moving to Texas because of job availability and because of the cost of housing being so low,” said Real Estate Center Research Economist Dr. Jim Gaines. “Texas has always been a wide-open laissez-faire, low-control, low-regulation place.”

AUSTIN (Austin Business Journal) – Long-term mortgage rates fell to a record low this week with the average rate on a 30-year fixed-rate mortgage in the week ending Oct. 7 of 4.27 percent, down from 4.32 percent last week.

A 15-year fixed-rate mortgage also fell from an average of 3.75 percent to 3.72 percent. The two rates represent the lowest long-term figures recorded since Freddie Mac began keeping track.

“The 12-month growth rate in the core price index for personal consumption, which the Federal Reserve closely tracks, has been drifting lower over the last six months ending in August and suggests inflation is running at a tepid pace at best,” said Freddie Mac Chief Economist Frank Nothaft. “This allowed mortgage rates to ease to new or near record lows.”

Additionally, the number of existing homes pending sale rose for the second consecutive month in August, up 4.3 percent, according to the National Association of Realtors. The association also reported that Austin home sales fell 15 percent year-over-year in August while sales so far this year have outperformed 2009.

COLLEGE STATION (Real Estate Center) – Texas' economy gained 133,100 jobs from August 2009 to August 2010, an annual growth rate of 1.3 percent.

During the same period, the U.S. economy added 278,000 jobs, an annual growth rate of 0.2 percent. The state's private sector posted an annual employment growth rate of 1.4 compared with 0.3 percent for the United States.

The state’s seasonally adjusted unemployment rate rose from 8 percent in August 2009 to 8.3 percent in August 2010, while the nation’s rate in August decreased from 9.7 to 9.6 percent.

All Texas industries except the trade, construction and information industries had more jobs in August 2010 than in August last year.

Twenty-four Texas metro areas had positive employment growth rates for the year ending Aug. 31, up from 19 for the period from July 2009 to July 2010. Sherman-Denison ranked first in job creation, followed by San Angelo, Austin-Round Rock-San Marcos, Odessa and Tyler.

The state’s actual unemployment rate in August 2010 was 8.4 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, San Angelo and Abilene.

For the complete set of August data, see the Monthly Review of the Texas Economy — September 2010 by Real Estate Center Research Economist Dr. Ali Anari and Chief Economist Dr. Mark G. Dotzour.