Register Real Estate Advisors » texas

Texas Gets $31 Million in Wildfire Recovery Funding

Shannon Register, Broker/Owner — Fri, 03 Feb 2012 01:54:43 +0000

WASHINGTON, D.C. (Associated Press) – Texas is getting $31 million in federal funding to help with wildfire recovery. At least 80 percent of it will go to Bastrop County, which was devasted by fires that began late last summer.

Community development block grants will help pay for housing, business and infrastructure needs beyond other public and private help.

The money is part of $400 million in nationwide natural disaster assistance from the Department of Housing and Urban Development.

According to the Texas Forest Service, last year’s wildfire season was the worst in the state’s history, covering nearly four million acres and destroying 4,000 structures, and resulting in ten deaths.

"Texas Gets $31 Million in Wildfire Recovery Funding" was originally posted as a blog post at RREA.com on February 2, 2012.

Houston Industrial: Construction Uptick Indicates Market Strength

Shannon Register, Broker/Owner — Thu, 02 Feb 2012 01:57:04 +0000

HOUSTON (CB Richard Ellis) – An increase in building activity marked the strengthening of Houston’s industrial market in fourth quarter 2011, according to CB Richard Ellis’ latest market analysis.

The report showed that 4.1 million sf of active building was taking place at the end of 2011, up 14 percent from the end of the third quarter and more than 450 percent over the end of 2010.

Industrial vacancy rates have declined over the past two years. The overall vacancy rate dropped to 5.6 percent in the fourth quarter from 5.9 percent in the previous quarter and 6.5 percent in fourth quarter 2010.

At the end of fourth quarter 2011, Houston’s industrial market posted 25 million sf of vacant space alongside 2.1 million sf of positive net absorption, pushing year-to-date absorption to 3.8 million sf.

In its report, CB Richard Ellis says “employment now exceeds its prerecession peak in several sectors — oil and gas extraction, food and beverage stores, utilities, and trucking to name a few. The recovery has been rough, and job growth will repeat that trend with only construction and real estate showing signs of significant improvement next year.”

"Houston Industrial: Construction Uptick Indicates Market Strength" was originally posted as a blog post at RREA.com on February 1, 2012.

Oil Industry Boosts Texas Job Growth

Shannon Register, Broker/Owner — Mon, 30 Jan 2012 01:46:08 +0000

COLLEGE STATION (Real Estate Center) – Texas’ mining and logging industry ranked first in job creation in the past year, followed by the professional and business services industry, and the leisure and hospitality industry, according to the latest Monthly Review of the Texas Economy.

Overall, the state’s economy gained 205,100 nonagricultural jobs from December 2010 to December 2011, an annual growth rate of 2 percent compared with 1.3 percent for the United States. The state’s nongovernment sector added 261,200 jobs, an annual growth rate of 3 percent compared with 1.8 percent for the nation’s private sector.

Texas’ seasonally adjusted unemployment rate fell from 8.3 percent to 7.8 percent while the nation’s rate decreased from 9.4 percent to 8.5 percent.

All Texas industries except the information industry, construction industry, and the state’s government sector had more jobs in December 2011 than in December 2010.

All Texas metro areas except Abilene, Wichita Falls, College Station-Bryan, Killeen-Temple-Fort Hood, Brownsville-Harlingen and Beaumont-Port Arthur had more jobs in December 2011 than in December 2010. Laredo ranked first in job creation followed by Corpus Christi, Victoria, Lubbock, Midland and Houston-Sugar Land-Baytown.

The state’s actual unemployment rate in December 2011 was 7.2 percent. Midland had the lowest unemployment rate followed by Amarillo, Odessa, Lubbock, College Station and San Angelo.

"Oil Industry Boosts Texas Job Growth" was originally posted as a blog post at RREA.com on January 29, 2012.

Job Flows from Oil Patch

Shannon Register, Broker/Owner — Sun, 29 Jan 2012 01:59:46 +0000

By David S. Jones, Senior Editor, RECON Magazine

COLLEGE STATION, Tex. (Real Estate Center) – Texas added more than 41,000 “mining and logging” jobs during the year ending in December. Most of these were in the resurgent oil patch.

“The average number of active rotary rigs increased from 719.8 in December 2010 to 873.4 in December 2011,” said Dr. Ali Anari, author of the Monthly Review of the Texas Economy published by the Real Estate Center at Texas A&M University.

The state’s mining and logging sector posted an 18.8 percent job gain for the year, easily outpacing all other job categories. Professional and business services and leisure and hospitality were second with 4.1 percent more jobs.

Laredo ranked first in job creation followed by Corpus Christi, Victoria, Lubbock, Midland and Houston-Sugar Land-Baytown.

It was not a good year for Texas’ construction, government or information industries.

The state’s construction industry lost 6,500 jobs. Job gains in the construction of buildings sector and in heavy and civil engineering construction were more than offset by the loss of 8,600 specialty trade contractor jobs.

The government sector lost 56,100 jobs, an annual decline rate of 3 percent. Government job losses included 2,500 among Texas-based federal workers; 42,100 in local governments and 11,500 at the state level.

Texas’ information industry (Internet service providers, web search portals, publishing industries, broadcasting and telecommunications) lost 7,800 jobs, a 4 percent rate decrease.

“The state economy gained 205,100 nonagricultural jobs December to December,” said Anari. “That’s an annual growth rate of 2 percent. By comparison, the United States grew 1.3 percent during that time.”

Texas’ nongovernment sector added 261,200 jobs, an annual growth rate of 3 percent. The nation’s private sector grew 1.8 percent.

"Job Flows from Oil Patch" was originally posted as a blog post at RREA.com on January 28, 2012.

Housing Market is Strengthening

Jay Richardson, Realtor — Sat, 28 Jan 2012 06:33:49 +0000

NAR released its latest pending home sales index figure last week and for the second month in a row the index is up. But more than that, the index has broken 100. This is significant because the only time since the housing boom collapsed that the index has broken 100 is when the home owner tax credit was in effect. The fact that the index has returned to that level a year since the credit has been in effect means the housing market is strengthening completely on its own, without any stimulus.

"Housing Market is Strengthening" was originally posted as a blog post at RREA.com on January 28, 2012.

The Woodlands Building a Second Anadarko Tower in The Woodlands Town Center

Shannon Register, Broker/Owner — Sat, 28 Jan 2012 02:10:01 +0000

A second Anadarko Tower is going to be built in The Woodlands, Texas. The Woodlands Town Center will host the 31-story office tower. The current Anadarko Towers at 30 stories high. Rumor has it that the first 10 floors of the new building will be for parking. Projections indicate the building will be completed by the spring of 2014. The economy has not rocked the stability of jobs and growth in The Woodlands, Texas!

"The Woodlands Building a Second Anadarko Tower in The Woodlands Town Center" was originally posted as a blog post at RREA.com on January 27, 2012.

Top 10 List – How Does a Home Buyer Find the Right Builder?

Shannon Register, Broker/Owner — Thu, 26 Jan 2012 01:55:33 +0000

Ever wonder how to find the right builder to build your family a home? Below are my Top 10 recommendations for finding the builder that is right for you! If you would like to purchase a home, RREA has many experienced and seasoned Realtors that can help you and there is no cost to you. Your builder will pay our commission! Call RREA today to find the Realtor that best meets your real estate needs – 281.288.3500.

10. Use a Realtor! Realtor’s comply to a strict Code of Ethics and are licensed by the state. They have a fiduciary responsibility to protect your best interest in a transaction. Builders do not fall under this Code of Ethics. They are looking out for their best interest, and many times have their attorneys write their contracts for them.

9. Find the areas of town you want to live in and interview the builders that will build in those areas.

8. Get Pre-Approved for your Financing or have a letter from your financial institution stating how much home you can afford to buy.

7. Figure out the type of home you want – ranch style, basement, two story, patio home, etc.

6. If your Realtor is a member of the Greater Houston Home Builders Association they have access to the list of builders who construct homes in the area. All of the Realtors at Register Real Estate Advisors has access to this membership list.

5. Once you have narrowed down a list of builders, see some of the homes they have under construction and some that have been completed. Ask for testimonials from their clients or references.

4. Before picking a floorplan, walk through as many new homes as you can. You can do this by attending open houses or visiting new communities. This way you can see the differences between builders and find ideas you want to incorporate in your new home. Check out the quality of the homes and see what building trends they use (bay windows, art niches, etc.)

3. Remember that you will be picking your tiles, carpet, countertops, paint, appliances, and much more. When touring homes and looking at magazines, inspect these items to find out what you like best. Take lots of notes to share with your builder and photos if possible. Ask lots of questions!

2. Your goal should be to find a builder you trust and feel comfortable talking to. You will have a close relationship during the months that your home is being built.

1. When you finally pick your builder, ask about his company history, experience, philosophy, and building and payment process. Talk with the builder at length about what your expectations are for the new home.

"Top 10 List – How Does a Home Buyer Find the Right Builder?" was originally posted as a blog post at RREA.com on January 25, 2012.

Real Estate Market Trends for Houston, Texas

Shannon Register, Broker/Owner — Wed, 25 Jan 2012 19:14:09 +0000

November 2011 real estate search results are in and Houston, TX was the #27 most searched market in the country in November 2011, based on data released today by Realtor.com, the #1 homes for sale real estate web site. The Median list prices for homes in Houston, TX hit $174,500 in November 2011, a 2.79% increase from one year ago this month, and -0.20% decrease from October 2011. The national median list price in November 2011 was $189,900, a 4.05% increase compared to November 2010. Active for sale inventory of homes in Houston, TX in November 2011 leveled out at 24,561, a -21.68% decrease compared to November 2010. National inventory counts for November 2011 were 2,014,352, a -21.30% decrease as compared to a year ago. The median age of inventory in Houston, TX in November was 91 days, a 2.25% increase compared to October 2011. Nationally, the median age of inventory was 114 days, a 3.64% increase compared to October.

"Real Estate Market Trends for Houston, Texas" was originally posted as a blog post at RREA.com on January 25, 2012.

Making Sure Your Home Has Sufficient Insurance Coverage

Shannon Register, Broker/Owner — Sat, 21 Jan 2012 01:47:34 +0000

When you purchase a new home or a resale home, you will want to make sure your home has sufficient insurance coverage. You want a homeowner’s insurance policy that will cover your new house and all of your family’s items inside. To determine how much insurance you need, figure our how much it would cost you to rebuild your house today on your existing lot. Your personal property coverage should then be anywhere from 55-75% of that amount, according to most insurance salesman.

If you live in Texas, you know there are natural disasters that take place. Along the coast, we have to be prepared for hurricanes. In other areas, there are wildfires. Damage caused by natural disasters such as flooding, earthquakes and hurricanes are not covered by regular homeowner’s policies, so depending on where you live, you may want to consider additional coverage. Your insurance agent can help you figure out the right amount of coverage and suggest upgrades or additional policies that would be appropriate for your specific situation. In the Spring and Woodlands area I recommend LaVon da Fletcher at State Farm Insurance. She and her team are experts at helping homeowners figure out how much insurance they need.

"Making Sure Your Home Has Sufficient Insurance Coverage" was originally posted as a blog post at RREA.com on January 20, 2012.

10% Increase Predicted for Houston Home Starts, Sales

Shannon Register, Broker/Owner — Fri, 20 Jan 2012 05:21:02 +0000

HOUSTON (Houston Business Journal) – Metrostudy President Mike Inselmann predicts 2012 will bring about a 10 percent increase in both single-family home starts and existing home sales in Houston.

Speaking Wednesday at the 2012 Houston Housing Forecast, Inselmann predicted the number of home starts will rise from 18,000 in 2011 to as much as 20,500 this year.

He also also predicted sales of existing single-family homes will increase by at least 10 percent, rising from 2011′s 54,000 to as much as 59,400 this year.

"10% Increase Predicted for Houston Home Starts, Sales" was originally posted as a blog post at RREA.com on January 20, 2012.