Archive for the 'Austin Area State Parks' Category
Austin Area Real Estate - NO Better Place!!!
August 20th, 2008 Categories: Austin Area State Parks, Austin Real Estate News
Dear Readers,
I found an interesting article that may be good to share with some clients or collegues on the Austin economy. Some good news for Austin and surrounding areas. Sounds like our area is in the best position to endure any economic downturns.
Economist: Austin area will recover faster than the rest of the U.S.
Austin Business Journal :
In the coming year Austin will outperform the rest of the country in job growth and in the health of its housing market, according to Mark Dotzour, chief economist at Texas A&M University’s Real Estate Center.
Austin will add 8,500 new jobs between now and August 2009, despite a negative job growth across the country, he says. The local housing market will turn around faster than the rest of the country by next summer, Dotzour predicts.
In the meantime there will be a marked drop in new construction next year as a result of tightened debt and equity markets, Dotzour says. Still, the credit crunch is starting to thaw, and the pressure on national banks is beginning to move to regional banks including those in Texas. Those banks are tightening the terms on outstanding loans and demanding additional collateral or partial paydowns based on reappraisals. Loans for single family developments will bottom out between now and next summer and some builders will leave the market involuntarily, says Dotzour. By next fall he predicts a turnaround in the market and a renewed uptick in homebuilding.
The local demand for apartments is at an all-time low, says Dotzour. There will be demand for about 2,500 units next year, a fraction of the 9,000 to 11,000 units that will come online. He anticipates occupancy will be 90.4 percent and rents will fall to an average of 94 cents-a-foot.
The office market will see very little new construction in 2009 and 2010 as a result of the recent credit crunch. But that means when the economy picks up in mid-2009 the region will see the next wave of rent growth, says Dotzour.
About 350,000 square feet of office space is likely to be absorbed next year, and 700,000 square feet will come online. Occupancy will be 84.7 percent.
Industrial development is seeing the biggest wave of construction in the history of Austin despite a 25 percent increase in construction costs last year, says Dotzour. He predicts ownership will begin to change hands as rents stagnate.
Dotzour predicts 250,000 square feet of flex/R&D space will be absorbed and that 400,000 square feet will be completed next year. The warehouse and distribution market will see 2 million square feet come online, and 376,000 square feet of that will be absorbed. Occupancy rate will be 82.4 percent and rents will be down 7 percent.
GREAT NEWS FOR AUSTIN REAL ESTATE!!!
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Jeremy K. Frost Realtor & Real Estate Blogster
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Future Growth Plans For Downtown Austin Texas
January 10th, 2008 Categories: Austin Area News, Austin Area State Parks, Austin Real Estate News
Austin City Hall unveiled the new plans for future downtown development yesterday, January 9th. This new plan provides opportunities for all lifestyles including affordable housing. The new plans should have a positive, long-lasting effect on Austin, Texas.
Looking for a housing opportunity in Downtown Austin, Texas?
Contact Jeremy K. Frost today for more information. 512-636-2746
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Austin Texas Housing Market Is A Great Bargain!
January 8th, 2008 Categories: Austin Area News, Austin Area State Parks, Austin Real Estate News
Here is a recent article I read from the Austin American Statesman that really puts Austin’s housing market into perspective:
Austin and other Texas housing markets are among the most undervalued in the nation, according to a new analysis of data by Global Insight Inc. and National City Corp.
The companies looked at prices in 333 metro areas in the third quarter of 2007. Such reports are considered important indicators of potential decline and growth in specific cities.
In calculating valuations, the companies used a complex statistical model that included prices, interest rates, household incomes, population density and any historical premiums or discounts for each market. The percentage of over- and under-valuations is intended to reflect where a housing market’s price should be.
In Austin, and in Texas overall, recent rapid increases in home prices never occurred, so the state has avoided the real estate bubble that has plagued coastal areas.
If a city’s housing is over- or undervalued by up to 14 percent, it is still considered within a fair market range. Anything outside that range means a considerable over- or undervaluation.
For instance, Austin, at -9.1 percent, is in the fair market range, while Dallas, at -28.1 percent, is considered undervalued.
Looking for a real estate bargain?
Contact Jeremy K. Frost today! (512) 636-2746
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Looking for a foreclosure / HUD home in Austin, Tx?
December 19th, 2007 Categories: Austin Area News, Austin Area State Parks, Austin Real Estate News, Dripping Springs Real Estate News
WHAT IS A HUD HOME?
In 1934, The United states government started a department called the Federal Housing Administration (FHA) and later became part of the Housing and Urban Development (HUD).
The FHA loan program has two objectives. The first is to allow individuals to purchase a home with a small down payment. The second objective is to protect the lender in case the buyer defaults on a mortgage.
FHA is an insurance policy given to the lender to protect them in case the buyer defaults on the mortgage, premium of this policy is paid by the buyer that is called Mortgage Premium Insurance (MPI).
HUD homes are properties with FHA loans that have gone through the foreclosure process. The bank which owned the FHA insured loan on that property completes the foreclosure process and will take over the property. The bank surrenders the property to the FHA and gets reimbursement for the loan. FHA then turns the property over to HUD and HUD acts as a liquidator for FDHA.
We are seeing new foreclosures hit the market weekly and great deals are to be had!
HOW DO I FIND A HUD HOME?
Finding the right HUD home can have you walking into instant equity. Call Jeremy K. Frost today! REALTOR & Real Estate Blogster 512-636-2746
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Everyone in Austin Texas should be a TREE HUGGER!
November 8th, 2007 Categories: Austin Area News, Austin Area State Parks, Austin Real Estate News
No I am not asking you to lather on the petruli oil & run out to buy a pair of hemp sandals, but I am asking you to help keep Austin Texas on of the best cities in the world to live…
This is my personal plea to all of Austins current & soon to be residents to RECYCLE! Austin has consistently stayed at the top of America’s greenest cities according to National Geographic “The Green Guide” . Now that’s something Austin Texas can really be proud of!
Here is a couple of links to area recycling centers that can help you help keep Austin Texas GREEN…
Used Motor Oil & Filter Recycling
If you are having trouble finding an area recycling center just give me a ring, I will have no problem helping you keep Austin beautiful!
Jeremy K. Frost ~ REALTOR & Real Estate Blogster
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What Everybody Should Know About Dripping Springs, Texas!
October 17th, 2007 Categories: Austin Area State Parks, Dripping Springs Area News, Dripping Springs Real Estate News
Dripping Springs is often referred to as the “Gateway of the Texas Hill Country” rolling hills, beautiful rock bottom creeks, abundant wildlife and majestic views make up this Hill Country town with a population of about 1,500 and an additional 30,000 live in the ETJ. We have wonderful scenery at Hamilton Pool, Pedernales State Park, and West Cave Preserve (just to name a few). Check out this video of Pedernales State Park. Our city offers an exceptional school system, affordable living, and proximity to Austin and San Antonio. P.S. Did I mention we have great barbeque? Call Sandra Steele to find out more about this wonderful community and our awesome hill country views 512-426-5657.
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