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 Local Rental Company Blacklisted NOT Affiliated with ERA Colonial Real Estate

NOTICE OF CLARIFICATION

 

By now, many of you have heard via the news and by communication from Fort Hood that COLONIAL REAL ESTATE PROPERTY MANAGEMENT, SALES AND INVESTMENT, INC has been black listed by Fort Hood.  This notice is to assure you that our company, Colonial Residential Properties, Inc. is in good standing with Fort Hood and we are in no way associated with the COLONIAL REAL ESTATE PROPERTY MANAGEMENT, SALES AND INVESTMENT, INC. company that has been placed on the black list.

 

Obviously, the name association is of major concern to us and we want you to feel comfortable that your association is with a highly reputable company.  We encourage you to verify this statement by contacting the Housing Department of Fort Hood, the Killeen Daily Herald, or the Better Business Bureau.  Further verification is provided in the attachments from Major General William F. Grimsley and a news article from the Killeen Daily Herald.

 

We are not just a business but are a good neighbor within Harker Heights, Killeen and the surrounding communities.  We value our good name and we value your good opinion of our company.

 

 FHA RELEASES CONDO LOAN RULES

WASHINGTON (Associated Press) – The Federal Housing Administration (FHA) has released new lending insurance restrictions for
condominium buyers and developers.
The FHA’s tighter lending standards include restrictions on buildings with poor finances, too many delinquent owners and a high
number of rentals. The agency will also require at least 30 percent of units in new buildings be pre-sold before it will insure any
loans; this will rise to 50 percent in 2011.
Before these rules went into effect, buyers needed only a 3.5 percent down payment to be insured.
The stipulations have been set to protect the FHA from insuring loans with a risk of falling into delinquency.
About 18 percent of loans currently insured by the FHA are either delinquent or in foreclosure, and the agency’s money reserves have
dipped below the federal minimum.

 FIVE FACTORS AFFECTING COMMERCIAL REAL ESTATE

NEW YORK (Real Estate Center) – A number of factors could affect commercial real estate transactions going into 2010, Real Estate
Center Chief Economist Dr. Mark Dotzour reported after serving on an economic panel at the ninth annual Real Estate Mezzanine
Loans and Distressed Debt conference Wednesday in New York City.
Among those factors:
• Banks are hesitant to sell distressed real estate assets.
• Many loans are going to special servicers and are likely to overwhelm them with volume in 2010.
• The new commercial real estate lending model for 2009 and 2010 is a 50–60 percent loan from a life insurance company for
larger deals and possibly from commercial banks for smaller deals.
• Real estate investment trusts (REITs) are raising a "war chest" of money to purchase distressed real estate by buying troubled
loans.
• The country may be another year away from the end of the "perfect storm" of commercial real estate caused by rising cap
rates, falling rents, negative job growth, high tenant finish costs and lack of available financing.
"Hotels, condos, suburban office and land development are currently areas where investors are afraid to go," Dotzour said. "Bold
investors will make a lot of money in the future if they can buy these properties at the right price."
The conference was sponsored by Information Management Network.

 Employment Trends Animated Map

View an animated map providing a striking visual of employment trends over the last business cycle using net change in jobs from the U.S. Bureau of Labor Statistics on a rolling 12-month basis.  Visit: http://tipstrategies.com/archive/geography-of-jobs/

 EPA FUNDS HELP KEEP TEXAS CLEAN

DALLAS (U.S. EPA) – The Environmental Protection Agency has awarded $2.9 million to the Texas Commission on Environmental
Quality.
The funds will be used to assist in investigations, emergency responses, cleanup, risk management, alternative water supplies and
relocation of residents where leaks from underground storage tanks have occurred and the responsible party is unknown or is unwilling
or unable to respond.

 ALL IN THE FAMILY, ALL UNDER ONE ROOF

HOUSTON (Houston Chronicle) – Data in the 2008 American Community Survey show that about four million American households
have three or more generations living under the same roof, and sociologists and demographers expect that trend to increase in the near
future.
What is behind the surge in multigenerational households? The recession and baby boomers, experts say.
With layoffs and furloughs, people are moving back in with their parents or other family members to save money. Also, many baby
boomers are taking care of their elderly parents as the cost of long-term care soars.
About 4.5 percent of Texas households are multigenerational, the third-highest percentage in the nation, according to U.S. Census
data.

 AUSTIN WATER PLANT APPROVED

AUSTIN (Austin Business Journal) – The city council has voted in favor of funding the city’s fourth water treatment plant, a decision that
will create thousands of local jobs.
The $849 million Water Treatment Plant 4 will bring an estimated 3,000 additional construction jobs to Austin.
The current economic climate has allowed the city to build the plant for 20 percent less. However, opponents say the plant will raise
water rates by 15 percent.
The plant will sit on 92 acres in northwest Austin at FM 620 and Bullick Hollow Rd. The land was purchased last year with funds
approved by a 1984 bond vote.

 TEXAS RANKS HIGH IN GREEN POWER USAGE

WASHINGTON (Environmental Protection Agency) – Several Texas organizations made the EPA Green Power Partnership's Top
Partner Rankings because of their high annual green power usage.
The Austin and Round Rock Independent School Districts ranked first and second, respectively, among U.S. schools for using the most
power from renewable energy sources. Austin ISD used 65.6 million kilowatt hours (kWh), while Round Rock ISD used nearly 17 million
kWh.
Nearby Pflugerville ISD ranked 12th with 996,000 kWh.
The City of Houston was the number one local government in the country with 438 million kWh used annually. The City of
Dallas followed with 333.7 million kWh. The City of Austin ranked ninth with 62.5 million kWh, and Dallas–Fort Worth International
Airport ranked 11th with 52.5 million kWh.
Within the college and university category, the Texas A&M University System ranked sixth with 43.4 million kWh. It was the only Texas
university to make the top 20.
EPA’s Green Power Partnership works with more than 1,100 organizations to voluntarily purchase green power to reduce the
environmental impacts of conventional electricity use. Overall, EPA Green Power Partners are buying more than 17 billion kWh of
green power annually, equivalent to carbon dioxide emissions from electricity use of nearly 1.7 million American homes annually.
To learn more about greenhouse gas regulation, read "Carbon Nation" in the latest edition of Tierra Grande magazine.

 SUMMER WARMS DALLAS HOME PRICES

DALLAS (Dallas Morning News) – Residents of Dallas-Plano-Irving should expect home prices to increase by August 2010, according
to First American CoreLogic.

The housing and finance information firm predicts that 12-month appreciation of area home prices will be 0.21 percent next August. The
same month this year posted a 0.12 percent price decline.
Houston and Dallas were the best-performing markets surveyed by CoreLogic in August. First-ranked Houston home prices rose just
over 2 percent between August 2008 and August 2009.
Overall, Texas prices are off 0.26 percent from a year ago.

 ALAMO CITY INDUSTRIAL MARKET'S THIRD-QUARTER BOUNCE

SAN ANTONIO (NAI REOC Partners) – The city’s 30 million sf of competitive industrial properties recorded negative absorption through
the first half of the year, but third-quarter activity generated an unexpected bounce that pulled the market back into the black.
According to NAI REOC Partners, new leases and expansions yielded 240,068 sf of positive net absorption, leading to a year-to-date
total of 118,429 sf of net gain.
Despite the positive turn, citywide vacancy was at 13.8 percent, up from the 12.2 percent recorded last year at this time. The average
quoted triple net rental rate remained relatively stable at $5.57/sf/yr.
Distribution warehouse properties experienced the lion’s share of activity in the third quarter with gross leasing activity generating
224,625 sf of positive net absorption, the majority of which occurred in the northeast sector. The citywide average quoted triple net
rental rate for distribution warehouse space remained steady at $4.40/sf/yr.
The service center market experienced 40,326 sf of positive net absorption. The average quoted triple net rental rate remained at
$8.24/sf/yr.
Flex properties citywide experienced 24,883 sf of negative net absorption, putting the year-to-date loss total at 21,889 sf. As a result,
the citywide vacancy rate for flex properties increased to 18.2 percent compared with 17.1 percent last quarter and 12.8
percent recorded a year ago. The average citywide cost of renting flex space climbed two cents over last quarter to $12.38.

 HOUSTON FORECLOSURES DOWN FROM LAST YEAR

HOUSTON (Houston Business Journal) – Houston area foreclosures did not significantly increase between the second and third
quarters, and there were fewer than last year.
RealtyTrac’s U.S. Foreclosure Market Report revealed that Houston–Sugar Land–Baytown foreclosures increased 1.5 percent between
the second and third quarters, and actually fell 8.1 percent from third quarter 2008.
Approximately one out of every 256 area homes, or 0.39 percent, posted foreclosure activity from July to September, ranking Houston
124th in the United States for number of households in foreclosure.
The Dallas area’s 10,700 properties, or 0.45 percent of the whole, that posted foreclosure activity made it the highest in Texas.
College Station–Bryan had the lowest percentage of housing units in foreclosure during the third quarter, with 46 properties, or 0.05
percent.

 NEW HOME SALES FALL, PRICES RISE

NEW HOME SALES FALL, PRICES RISE
WASHINGTON (Associated Press) – Nationwide, sales of new homes fell 3.6 percent to a seasonally adjusted annual rate of 402,000
from August to September, according to the Commerce Department.
Last month’s decline was the first since March and was off 7.8 percent from a year ago. However, the market has improved 22 percent
from its bottom in January.
The median sales price of new homes, $204,800, was down 9.1 percent from September 2008, but up 2.5 percent from August’s
$199,900.

Sales declined nearly 11 percent in the West and 10 percent in the South while they remained unchanged in the Northeast and
increased 35 percent in the Midwest.

 ALAMO CITY MULTIFAMILY OCCUPANCY INCHES UP

SAN ANTONIO (San Antonio Express-News) – Third quarter apartment figures did not move much from the second quarter, but
occupancy did increase, according to apartment research firm RealFacts.
After a second quarter that brought new units onto the market, which attributed to one of the worst San Antonio quarterly performances
in years, the occupancy rate climbed about two points to 91 percent between July and September.
The increase is largely due to college students returning for the fall semester and renting apartments, said Steve Monroe, first vice
president with CB Richard Ellis in San Antonio.
However, third-quarter occupancy actually fell 1 percent from a year ago. RealFacts takes into account new complexes of 100 units or
more that rent at market rate.
San Antonio maintained the cheapest rent in Texas' major metro areas, falling less than half a percentage point from the second
quarter to $725 per month.
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Austin was the most expensive, with an average rent of $825. Houston rents averaged $791 per month and Dallas–Fort Worth’s $781.

 AUSTIN INDUSTRIAL DOWNTURN CONTINUES

AUSTIN (Grubb & Ellis) – Even though Austin has fared better than many parts of the nation by posting modest job losses over the last
year, the third quarter 2009 industrial report from Grubb & Ellis shows the area has not been immune to the downturn.
During the third quarter, further contraction among industrial tenants pushed the citywide absorption level deeper into the red with
112,750 sf of negative absorption.
This marked the fourth consecutive quarter of negative growth, pushing the year-to-date absorption tally to 1.2 million sf, its highest
level since 2002.
The combination of diminished leasing demand, increased supply and corporate consolidations precipitated by the economic recession
has led to a growing supply of vacant space over the past year.
Austin’s citywide vacancy rate has now remained in double-digit territory for five consecutive quarters and stands at its highest recorded
level since 2003. As a result, landlords have been forced to reduce asking rents to attract and retain tenants.
Grubb & Ellis' complete third quarter 2009 industrial market report for Austin is available online.

 TEXAS' EXISTING HOME SALES, PRICES UP

TEXAS (Real Estate Center, CNNMoney.com) – A total of 18,643 existing single-family homes were sold in Texas last month, a 4
percent increase from September 2008, according to MLS data compiled by the Real Estate Center at Texas A&M University.
The median price rose 2 percent to $147,900 during the same period, and the state finished the month with a 7.1-month inventory of
existing homes.

 SA INDUSTRIAL MARKET 'RELATIVELY STABLE'

SAN ANTONIO (Grubb & Ellis) – The Alamo City’s industrial market continues to be relatively stable despite some negative effects of
the recession, according to the third quarter 2009 industrial market report from Grubb & Ellis.
The local industrial leasing market continued to tread water by posting 53,946 sf of positive growth as the year-to-date absorption tally
increased to 165,245 sf. Although leasing activity remains well below the pace seen in the past two years, the local market has still
managed to post modest absorption gains this year supported by the expansion of some area businesses.
However, the market appears to be stuck in neutral, at least until the current economic and financial woes play out and companies feel
more confident about the economic outlook.
Because no one can accurately predict whether the market will continue to move in the right direction, expect landlords to continue
offering generous concession packages in their efforts to attract and retain tenants. Landlords that are in a position to negotiate
aggressive agreements may benefit from the fact that many companies are redefining their revenue growth strategies, reorganizing
operations, reducing costs and positioning themselves for what many economists project will be an early-2010 turnaround for San
Antonio’s economy.
Grubb & Ellis' complete third quarter 2009 industrial market report for San Antonio is available online.

 FINANCIAL PROTECTION AGENCY APPROVED

WASHINGTON (Associated Press) – The House Financial Services Committee approved the creation of the Consumer Financial
Protection Agency to protect consumers from predatory lending, abusive overdraft fees and unfair rate hikes.
Worries from the financial industry persuaded the committee to apply restrictions to the agency, which still has to be approved by the
full House and the Senate.
Retailers, auto dealers, real estate brokers, lawyers, cable companies and accountants would be among those exempt from agency
oversight.

 RESIDENTIAL CONSTRUCTION'S UNCERTAIN FUTURE

WASHINGTON (Associated Press) – While an extension on the homebuyer tax credit remains under discussion, building permit
applications fell 1.2 percent and overall residential construction rose 0.5 percent in September.
Construction rose 7.1 percent across the South last month. On a national scale, construction of single-family homes rose 3.9 percent to
an annual rate of 501,000, while multifamily construction fell 15.2 percent. Overall residential construction posted a seasonally adjusted
annual rate of 590,000 units.
The National Association of Home Builders’ index of builder confidence fell from 19 in September to 18 in October, a slip that builders
attribute to the upcoming expiration of the homebuyer tax credit.
Real estate agents and homebuilders are urging Congress to extend the $8,000 rebate for first-time homebuyers, but some analysts
and lawmakers argue that most homebuyers who receive it would have bought a home anyway.
The Associated Press also reported that the number of tax returns fraudulently claiming eligibility for the $8,000 credit could jeopardize
efforts to extend the program. As of the end of September, the IRS has frozen over 110,000 refunds pending civil or criminal
examinations, identified 167 criminal schemes and commenced 115 criminal investigations.

 CRE CAP RATES RETURNING TO EARLIER LEVELS

COLLEGE STATION (Real Estate Center) – Cap rates on commercial real estate (CRE) are likely to move back to levels seen in 2002
and 2003, said Real Estate Center Chief Economist Dr. Mark Dotzour earlier this week in Las Vegas.
Dotzour was speaking to an audience of 700 at the Real Estate Investment Securities Association's Annual Conference.
"This move from the historic low cap rates of 2006 and 2007 back to 2002 levels means that commercial property values are likely to be
30 percent to 45 percent below the values at the peak of the market in mid 2007," he said.
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He said overall price declines will vary from city to city, with the biggest overall declines in the nation's largest cities.
“The bidding frenzy for commercial real estate was hottest in the largest metro areas, which traditionally attract bidders from all over the
world," he said. "Smaller cities, such as Amarillo and Lubbock, never saw the same bidding pressures. Consequently prices never
spiked and, consequently, they won’t have as far to fall.”

 GAINES TAKES ON RECESSION IN RED ZONE PODCAST

COLLEGE STATION (Real Estate Center) – The federal government has enacted a number of plans designed to help pull us out of the
recession. How effective have they been so far?
That's one of the questions we ask Research Economist Dr. Jim Gaines on this week's edition of the Real Estate Red Zone podcast. In
the nearly 15-minute interview, Gaines also talks about how Texas is faring compared with the rest of the nation, and what is needed to
recover from the recession.
Also, Edie Craig gives us the scoop on big deals happening in small towns, and Cydney Donnell with Mays Business School talks about
recent recognition for the school's Master of Real Estate program.
To subscribe to the Real Estate Red Zone, just click on the RSS feed found on the podcast page. The free podcast is also listed in
iTunes.
So join us in the Red Zone for a half hour of talk about Texas real estate. And be sure you tell your friends about it.

 TEXAS TURBINES LEADING ENERGY INDUSTRY

WASHINGTON (American Wind Energy Association) – Texas leads the nation in total megawatts of wind-generated energy installed
and in megawatts added during the third quarter.
The American Wind Energy Association (AWEA) reported this week that Texas added 436 megawatts of energy during the third quarter
alone, 185 more than that added by the second leading state, Oregon.
The wind farms that comprised this addition to Texas clean energy production were Panther Creek III, Roscoe IV and Sunray II, with
199.5, 197 and 39 megawatts created, respectively.
The state’s total operating wind capacity is at 8,797 megawatts.
Texas wind farms Gulf Wind, Papalote Creek and Penescal II are currently under construction. When completed in 2009 or 2010, they
will generate 283.2, 179.9 and 201.6 megawatts of power, respectively.

 SA HOSPITALITY SECTOR'S $11 BILLION IMPACT

SAN ANTONIO (San Antonio Express-News) – The Alamo City's hospitality sector exceeded some industry insiders' expectations by
contributing $11 billion to the local economy last year.
That represents an 8 percent growth rate between 2006 and 2008, according to the latest report from the San Antonio Area Tourism
Council.
The report also said the city's hotels, restaurants, theme parks, travel agencies and other hospitality interests employed 106,311 and
contributed $285 million in taxes and fees to area governments last year.
“Tourism, in conjunction with our growing military presence and flourishing biotech and cyber security sectors, has helped keep the city
on more firm financial footing than a lot of American cities," a statement by Mayor Julián Castro said.
Still, the sector's economic impact did not grow as much from 2006 to 2008 as it did from 2004 to 2006 (16 percent) and from 2002 to
2004 (13 percent).

 PONDERING A SMALL FARM OPERATION?

COLLEGE STATION (Texas AgriLife Extension Service and AgriLife Research) – Anyone with a green thumb, an entrepreneurial spirit
and a little land can produce and sell vegetables, fruits, nuts, and greenhouse and nursery products. All it takes is a little know-how.
That's where AgriLife Extension's Small Acreage Horticultural Crops program comes in.

"This program is designed to help small-scale producers in rural and suburban areas become more knowledgeable in identifying and
planning ways to diversify their operations in a sustainable way," said Dr. Joseph Masabni, who was involved in the program's creation.
The free program will be offered by AgriLife Extension agents in various Texas counties beginning this fall. The initiative will include two
webinars, one on Nov. 18 and another on April 13.
Experts will talk about site selection, marketing and economic considerations, and specifics on production for a variety of potential
crops. Topics will also include how likely the produce is to sell in various markets, the best season and location for growing certain
crops, and the labor and equipment required.
For more information, visit the program's website.

 NO WINDSTORM INSURANCE RATE INCREASE, TDI SAYS

HOUSTON (Houston Chronicle) – The Texas Department of Insurance (TDI) has denied a 10 percent rate increase requested by the
Texas Windstorm Insurance Association (TWIA).
According to TDI, the state-backed windstorm insurer's current rates should cover its projected costs and the costs of financing bonds it
would need to issue following a catastrophic storm.
The association last raised windstorm rates in February. Rates jumped 12.3 percent for homeowners and 15.6 percent for commercial
property owners.
TWIA had 228,000 policyholders as of Sept. 30. About 2,800 of those are in Harris County, and roughly 64,900 are in Galveston
County.

 WHEN WILL RECESSION END?

COLLEGE STATION (Real Estate Center) – Three things have to happen before the current recession can be declared ended. One is
underway, said Dr. Mark Dotzour, chief economist for the Real Estate Center at Texas A&M University.
"I think the economy will begin to turn for the better once the health care and cap-and-trade issues are settled. Those two political
debates are creating substantial uncertainty for business owners and investors," he said.
The personal savings rate is the second trend to watch, said Dotzour.
"Over 70 percent of the U.S. economy is consumer spending," he said. "When the savings rate finally levels out, consumer spending
will start to increase again."
Increased corporate profits are the third trend that must occur to bring the recession to an end. There is some indication that has
already begun. The last three data points were all up. Rising profits lessen the urge for companies to lay off workers.
Research Economist Dr. Jim Gaines added that the increased corporate profits have come from reduced costs, not the kind that leads
to expansion.
"Keep your eye on these three issues," Dotzour said. "When they are resolved, the economy will begin to turn the corner."

 TEXAS FORECLOSURES UP 17 PERCENT

HOUSTON (Houston Business Journal) – Texas foreclosures rose 17 percent between August and September, with 13,216 default
notices, scheduled auctions and bank repossessions filed last month.
Year over year, foreclosures were up 43.7 percent in September, according to RealtyTrac Inc.
Statewide foreclosures were 11.3 percent higher in the third quarter than in the second with 29,838 filings, and 8.7 percent above third
quarter 2008.
Nationwide, filings fell 4 percent between August and September but were up 29.2 percent from September 2008, with over 340,000
filings.

 CPS PROGRAMS AID NEEDY RESIDENTS

SAN ANTONIO (San Antonio Express-News) – CPS Energy presented plans to the city council Wednesday to expand three of its
assistance programs to aid low-income residents.
The utility will increase its affordability discount program by $3 million, providing an $8 per month discount — instead of the current $3
discount — for 40,000 customers. The funds will be provided by CPS’s proposed rate increase of 9.5 percent.

The Residential Energy Assistance Partnership (REAP), which offers emergency help to customers at risk of having their power turned
off, will be doubled from $1 million to $2 million.
The utility will also add $50 million to its existing $150 million program to weatherize 50,000 homes between now and 2020. This does
not include the $12 million the city expects from federal stimulus funding for weatherization, which CPS would administer.

 UIW'S MEDICAL CAMPUS ON THE GROW

SAN ANTONIO (San Antonio Business Journal) – The University of the Incarnate Word (UIW) is expanding its satellite medical center
campus at Datapoint Dr.
The campus is currently housed in 35,000 sf at the Datapoint complex, but UIW will expand into an additional 55,000 sf by early next
year. UIW’s new School of Optometry is expected to occupy more than two-thirds of that space.
And that's just the beginning.
The university plans to take an additional 110,000 sf at Datapoint once Rackspace moves out — possibly by 2012.
UIW says its health care programs will generate an economic impact for San Antonio and Bexar County totaling some $750 million over
the next ten years.

 COLLEGE WELCOMES CONSTRUCTION AWARD

SAN ANTONIO (San Antonio Business Journal) – St. Philip’s College Center for Learning Resources, Welcome Center and Center for
Health Professions building complex has received the “Excellence in Construction” award from the South Texas Chapter of Associated
Builders and Contractors.
The 215,000-sf complex opened in August. It is a $67.5 million portion of Alamo College’s $450 million capital improvement program.
The facilities were designed by Saldana and Associates and Pfluger Architects Associates.
3D/Parsons Foster was the project manager, and Skanska USA served as the construction manager.

 BRAC BRINGS BILLIONS

SAN ANTONIO (San Antonio Express-News) – With a first wave of 12,500 military personnel expected to flood Alamo City next year,
preparatory construction projects are reaching a peak to accommodate the influx.
The Defense Base Closure and Realignment Commission (BRAC) and related military ventures have spurred over $2 billion in awarded
construction projects so far, with at least an additional $300 million in awarded contracts expected before the project’s 2011 completion.
The work on 78 facilities includes construction of an aircraft taxiway at Randolph AFB, an urban assault course at Camp Bullis, a bridge
at Fort Sam Houston and building renovations at Lackland AFB.
The Military Transformation Task Force estimates that Fort Sam Houston — home to most of the projects — will have accounted for
$6.7 billion in economic impact on the San Antonio area and over $10 million in sales tax revenues.
BRAC is part of a larger military construction program that will bring ten million sf of space and over $3 billion in contracts to San
Antonio.

 UNIVERSITY HEALTH SYSTEM EXPANDING

SAN ANTONIO (San Antonio Business Journal) – University Health System (UHS) plans to renovate one of its existing buildings and
build a medical office building totaling between 200,000 and 250,000 sf.
The $76 million project includes the renovation of the Robert B. Green Hospital, which is part of University Health Center Downtown,
and the construction of a five- to six-story building that will have an out-patient clinic, an MRI facility, doctors' offices and pathology labs.
San Antonio-based Bartlett Cocke General Contractors will oversee the work, which is slated to begin next summer.

 TEXAS CITIES LABOR AWAY

TEXAS (San Antonio Business Journal) – Four of the five best labor markets in the country are in Texas, according to a new study
compiled by Portfolio.com.
Austin leads the way, followed by San Antonio. Houston ranks fourth and Dallas–Fort Worth fifth.
Landing at third is Baton Rouge.
All 100 metropolitan areas in the study, including those in Texas, have seen employment decline since last year. However, while 5
percent of the nation’s private-sector jobs have disappeared since June 2008, the collective decline for the 'Texas Four' has been 2.6
percent.
The Texas markets still have 589,500 more jobs than they did five years ago.
Portfolio.com used a nine-part formula to analyze employment trends in the nation’s 100 largest labor markets. The formula used
midyear U.S. Bureau of Labor Statistics data for 2004–09, including unemployment rates and trends, and raw and percentage changes
in private-sector employment.

 STUDENTS RECEIVE GREEN EDUCATION

AUSTIN (anthonyBarnum Public Relations) – The Building Owners and Managers Association (BOMA), Austin affiliate, and Austin
Association of Facility and Maintenance Engineers (AAFAME) are collaborating with American YouthWorks (AYW) to train "at-promise"
youths for green building management and engineering careers.

The BOMA Austin and AAFAME partnership will provide AYW participants with leading-edge coursework designed to introduce and
develop skills in building engineering and management. It will familiarize participants with building automation; energy efficiency
strategies; and basic electrical, plumbing and HVAC maintenance skills, as taught by industry professionals.
"A key objective is to provide our 'at-promise' youth with real avenues for their careers," said Melinda Wheatley, CEO of AYW.
Participants will receive a certificate of completion from BOMA International.
AYW is launching the program at its Green Jobs Training Center in South Austin at 1901 E. Ben White, which was recently renovated
to reach LEED Gold standards.

 S.A. MAKES YINGLI'S SOLAR SHORT LIST

SAN ANTONIO (San Antonio Express-News) – Yingli Green Energy Holding Co. has included Alamo City on its list of five possible
American cities in which to build a solar manufacturing plant.
The Chinese company has looked at four locations in the city, including two on the east side, and will make its final decision by Oct. 16.
If San Antonio were chosen as home to the site, the plant would bring 250 manufacturing jobs and 65 salaried or professional positions
into the market upon completion of construction.
Yingli is one of China's largest manufacturers of photovoltaic products, which are used to convert sunlight into electricity.
In August, San Antonio was chosen as the site of another solar plant, Blue Wing Solar, when Juwi Solar Inc. decided to build an
installation in southeast San Antonio near the intersection of I-37 and US 181.
City-owned utility CPS Energy signed a 30-year agreement to buy 14 megawatts of power from the plant when it begins operating late
next year.

 STUDY NOTES BENEFITS OF NET-ZERO HOMES

DALLAS (Associated Press) – An Environment Texas Research and Policy Center study released last week found that if 10 percent
more “net-zero” houses were built each year for the next decade, and all new homes were built that way by 2020, Texans could save
more than $5 billion in utility bills.
In Austin, a 40-house net-zero development is under construction about two miles from downtown. The homes are designed to be
about 45 percent more energy efficient, with solar energy bringing the net use to zero. Construction of these homes costs about 15
percent more than building a traditional house, but the savings eventually make up for it.
The study estimates homes would save an average of $500 a year in energy bills, and the reduced annual emissions would be
equivalent to cutting the pollution of more than three million cars in the nation's leading greenhouse-gas producing state by 2030.
The report calls on state and federal officials to do more to make the upgrades affordable. State agencies this fall will consider
increasing efficiency standards and requiring utilities to provide incentives. A bill passed in the 2009 legislative session authorizes cities
to offer incentives.

 MILLIONS FOR MISSION REACH

SAN ANTONIO (San Antonio Business Journal) – A project aimed at restoring and improving a 13-mile stretch of the San Antonio River
could get a financial boost from the federal government.
The San Antonio River Improvement Project is expected to receive $3 million in federal funding to help complete its Mission Reach area
in South San Antonio.
The appropriation is part of the Energy and Water Development and Related Agencies Appropriations Act of 2010. The bill passed the
U.S. House of Representatives and will now go to the U.S. Senate for consideration.
Tom Weaver, chairman of the San Antonio River Authority, says this federal funding will be key to completing Mission Reach.
The area stretches south of downtown from South Alamo St. to Mission Espada below Loop 410 and focuses on flood control and
attracting development to the southern part of the city. Mission Reach is part of the San Antonio River Improvement Project.
The San Antonio River Authority is the lead administrator of the project.

 TEXAS ECONOMY: SAME TUNE, BUT LOWER

COLLEGE STATION (Real Estate Center) – The latest Texas employment figures show a continuing downward trend.
The Texas economy lost 295,400 nonfarm jobs from August 2008 to August 2009, an annual job loss of 2.8 percent. The U.S. economy
took a much larger hit, losing close to six million jobs or 4.4 percent of its total nonfarm jobs.
The state’s seasonally adjusted unemployment rate rose from 5 percent in August 2008 to 8 percent in August 2009, while the U.S. rate
rose from 6.2 percent to 9.7 percent during the same period.
Only two Texas industries (education and health services, leisure and hospitality) and the government sector had more jobs in August
2009 than in August 2008. Nine industries experienced net job losses over the same period.
Only one Texas metro area, McAllen-Edinburg-Mission, experienced a positive employment growth rate from August 2008 to August
2009. Twenty-four metro areas experienced net job losses.
The state’s actual unemployment rate in August 2009 was 8.1 percent. Amarillo had the lowest unemployment rate, followed by
Lubbock, Abilene, Midland and College Station.
For more on the Texas economy, read the Real Estate Center's latest monthly economic review, available on the Center's website.

 MANY MIGRATE TO TEXAS

NEW YORK (CNNMoney.com) – Texas had the highest net migration in the country in 2008, according to the U.S. Census Bureau.
As other states suffered through a falling economy last year, the Lone Star State experienced an influx of residents, thanks to relatively
stable housing and employment markets.
The population grew by 140,000 in 2008, after subtracting those leaving the state from those moving into it.
The Census Bureau also reported that fewer residents were moving within their home states.
The percentage of people who lived in different homes within the same state dropped to 12.6 percent during 2008. It was 12.8
percent in 2007 and 13 percent in 2005, when housing markets were hopping.

 LOWER-PRICED HOMES DRIVE SA MARKET

 BUILDER CONFIDENCE RISES AGAIN

 CUSTOMERS REPORT QUALITY, SATISFACTION

 TEXAS TO LEAD ECONOMIC RECOVERY

 SOUTH TEXAS TURBINES GO FOR A SPIN

 TEXAS CITIES RANK HIGH ON ECONOMY, HOUSING PRICES

 COASTAL PROTECTION PLAN BIGGEST EVER FOR TEXAS

 HEARTBREAK FOR HOTELS

 TEXAS METROS AMONG BEST TO LIVE, WORK

 

TEXAS' EXISTING HOME SALES DROP, PRICES RISE
TEXAS (Real Estate Center, CNNMoney.com) – A total of 22,511 existing homes were sold in Texas last month, a 4.8 percent decline
from July 2008, according to MLS data compiled by the Real Estate Center at Texas A&M University. The median price increased 0.6
percent to $153,800 during the same period, and the state finished the month with a 7.4-month inventory of existing homes.

Additional home sales data for these and other major Texas cities are available on the Center’s website.
Nationally, sales of existing single-family homes last month were up 5 percent from July 2008, according to the National Association of
Realtors.

 TEXAS BANKS FAIRING BETTER THAN OTHERS

AUSTIN (Austin American Statesman) – Texas banks are in better condition than others across the nation, according to a new
report from Sheshunoff & Co. Investment Banking, an Austin-based financial industry consulting firm.
Compared with the national median on several key measures of bank health, Texas institutions have been more profitable and had
stronger asset quality and healthier levels of capital, said John Blaylock, associate director of Sheshunoff. Those higher levels of
capital, combined with a lower level of bad assets than banks nationwide, have given Lone Star banks more money to absorb losses in
this recession.
The report said Texas banks are well diversified, doing significant business in energy, health care and agriculture, all of which have
fared better than most other sectors.
Texas banks’ profitability declined from the first quarter to 0.69 percent in the second but was still higher than the national average of
0.49 percent.
Profitability levels have been rising for Austin-based banks since third quarter 2008 and hit 0.74 percent in the second quarter of this
year. Area banks have been buoyed by the economic activity that revolves around the University of Texas and the state government.
Banks in the Dallas–Fort Worth and Houston areas had returns on average assets below the national median.

 TOYOTA HAULING IN HUNDREDS OF JOBS

SAN ANTONIO (San Antonio Express-News) – Toyota Motor Corp. has confirmed plans to move Tacoma pickup production from a
plant in Northern California to its San Antonio manufacturing facility by next summer. The move is expected to add as many as 1,100
new jobs to the facility over time.
Toyota will stop making vehicles at the California plant in March.
San Antonio and Bexar County officials estimate the local Toyota plant — which currently builds only Tundras — will crank out 100,000
Tacomas annually following a $100 million retooling of the facility.

 TRAVIS CENTRAL APPRAISAL DISTRICT OFFERING BREAKS

AUSTIN (Austin American-Statesman) – Flooded with appraisal protest filings, Travis Central Appraisal District officials are offering
some homeowners reduced appraisal values and the chance to skip the protest hearing process.

In recent weeks, appraisal officials have mailed settlement offers to a select number of homeowners who were waiting for hearings on
their protests.
The letters offer to reduce appraisal values provided the homeowners stop protesting their values for 2009.
This marks the first time the district has used such an approach.
Chief Appraiser Patrick Brown said 90,000 property owners had filed protests this year, a much higher number than usual. Some of the
settlement offers would result in lower property tax bills, he said.

 NISSAN ROLLING INTO ROSENBERG

ROSENBERG (Houston Business Journal) – Nissan Motor Co. is set to become the first tenant at the 800-acre CenterPoint Intermodal
Center–Houston metro hub.
Railroad operator Kansas City Southern (KCS) and Wallenius Wilhelmsen Logistics (WWL) have agreed to establish a finished-vehicle
distribution center at the 800-acre intermodal and automotive logistics park located 35 miles southwest of Houston.
The center will act as a regional automotive distribution center for Nissan in Texas.
The new facility will allow European-based WWL to provide Nissan vehicle distribution services in Texas, Louisiana and Oklahoma from
a single site.
Completed in June, the park is a joint development project of Illinois-based CenterPoint Properties and KCS Railway Co.

 TEXAS ECONOMY'S TURNING POINT?

COLLEGE STATION (Real Estate Center) – Texas lost fewer nonfarm jobs in July than in June, suggesting that the state's economic
downturn has reached a turning point.
According to the latest economic review from the Real Estate Center at Texas A&M University, the Texas economy lost 219,200
nonfarm jobs from July 2008 to July 2009, an annual job loss of 2.1 percent. This was an improvement on the 2.4 percent loss from
June 2008 to June 2009.
The U.S. economy lost 4.2 percent of its total nonfarm jobs from July 2008 to July 2009, the same rate as from June 2008 to June
2009, indicating a trend toward stabilization of the national economy. The state’s seasonally adjusted unemployment rate rose from 4.9
percent in July 2008 to 7.9 percent in July 2009, while the U.S. rate rose from 5.8 percent to 9.4 percent during the same period.

Only three Texas industries (education and health services, leisure and hospitality, other services industry) and the government sector
had more jobs in July 2009 than in July 2008. Nine industries experienced net job losses over the same period, said Dr. Ali Anari,
research economist with the Center.
Four Texas metro areas experienced positive employment growth rates from July 2008 to July 2009, while 22 metros had net job
losses. McAllen-Edinburg-Mission ranked first in job creation, followed by El Paso, Laredo and Odessa.
The state’s actual unemployment rate in July 2009 was 8.2 percent. Amarillo had the lowest unemployment rate, followed by Lubbock,
Midland, Abilene and College Station.

 TEXAS TOPS U.S. IN HOUSING AFFORDABILITY

COLLEGE STATION (Real Estate Center) – Texas beats the rest of the country when it comes to housing affordability, according to
first quarter 2009 Texas Housing Affordability Index (HAI) numbers compiled by the Real Estate Center at Texas A&M University.
The numbers reflect the ability of a median-income family to purchase a median-priced existing home in their area. Texas had a ratio of
1.95 in first quarter 2009 compared with the nation's 1.55.
"The slowdown in the housing market nationally and within Texas has led to significantly increased housing affordability everywhere,
and Texas continues to maintain its place as the most affordable high-growth state in the country," said Dr. Jim Gaines, research
economist with the Center.
The index is posted on the Center's website.

 CENTEX, PULTE MERGER APPROVED

DALLAS (Dallas Business Journal) – Shareholders for homebuilders Centex Corp. and Pulte Homes Inc. have approved a merger of
the two companies.
Michigan-based Pulte will acquire Dallas-based Centex, according to a source who attended the shareholders' vote on Tuesday. Pulte
shareholders will own 68 percent of the merged company; Centex shareholders will own 32 percent.
According to research done by the Dallas Business Journal, Centex was the largest homebuilder in North Texas in 2007, with 2,170
housing starts. The company dropped to third last year, with 881 housing starts.
Pulte Homes of Texas ranked 12th in the Dallas–Fort Worth area in 2007, with 664 North Texas housing starts. That number fell to 495
in 2008, putting it at No. 11 that year.

 DOTZOUR FORECASTS AUSTIN RECOVERY

AUSTIN (Austin American-Statesman) – The local commercial real estate market will feel the effects as Austin's job market remains
sluggish, according to Dr. Mark Dotzour, chief economist with the Real Estate Center at Texas A&M University.
Dotzour predicts that local employers will continue to cut jobs through next spring, with employment slowly beginning to improve by next
summer. Particularly affected by the slow job market will be office landlords as overall office occupancy falls to 80 percent.
Good news can be found in the retail sector as decreased new retail development during the next three years will help demand catch
up with supply. New apartment construction is decreasing, with 1,000 units planned for next year and between zero and 500 expected
for 2011.
In the industrial sector, Dotzour sees large demand coming from biotech and clean-technology companies as well as data and call
centers.

 H-E-B DISTRIBUTION CENTER GROUNDBREAKING

TEMPLE (San Antonio Business Journal) – San Antonio-based H.E. Butt Grocery Co. has broken ground on its new 450,000-sf
distribution center.
The facility, which is being built on 160 acres next to Temple’s Rail Park at Central Pointe, will employ about 112 and house stock for
more than 50 H-E-B grocery stores between Austin and Dallas.

 H-E-B DISTRIBUTION CENTER GROUNDBREAKING

TEMPLE (San Antonio Business Journal) – San Antonio-based H.E. Butt Grocery Co. has broken ground on its new 450,000-sf
distribution center.
The facility, which is being built on 160 acres next to Temple’s Rail Park at Central Pointe, will employ about 112 and house stock for
more than 50 H-E-B grocery stores between Austin and Dallas.

 TEXAS LAND SALES DRY UP

SAN ANTONIO (San Antonio Express-News) – The struggling economy and record drought conditions have taken their toll on Texas
land sales.
While industry experts say price declines on Hill Country land have been fairly small — prices around San Antonio fell about 10 percent
in the last year, according to Phyllis Browning Co. broker George West — the volume of sales has been cut by nearly half.
The trend appears to be statewide.
Texas rural land sales have dropped 50 percent this year, said Charles Gilliland, a research economist with the Real Estate Center at
Texas A&M University. And a study by the U.S. Department of Agriculture found farmland values in Texas did not change in 2008.
Gilliland said sales of farms statewide were slightly better in the second quarter this year than the first, and some of that has been from
investors looking to put money into farmland.
“There are investors anticipating some inflation, and historically farmland is a good way to hedge against inflation,” Gilliland said.

 VALLEY OFFERS REFUGE FROM RECESSION

McALLEN (Brownsville Herald) – Driven by sagging auto sales, three auto parts suppliers are hoping to cut costs by moving their
operations to The Valley.
Fujitsu Ten Corp. is moving its distribution and logistics operations from Indiana to a newly leased building on Ware Road in McAllen.
The move, which should be complete by the end of September, will create 32 new jobs in the area.
Panasonic Electronic Devices Corp. is moving its headquarters to McAllen as well. The company, currently based in Knoxville, Tenn., is
also moving its speaker assembly operation from Forks of the River, Tenn., to its manufacturing plant in Reynosa.
Panasonic spokesman Clark Brandon said the speaker assembly operations move should be complete by December, while the
headquarters will open in April.
ALPS Automotive Inc. plans to move its support operations from Detroit, Mich., to McAllen.

 BEXAR COUNTY FORECLOSURE POSTINGS DIP

SAN ANTONIO (San Antonio Express-News) – Local foreclosure postings have dropped to the lowest number since the March auction, a sign that the local market is entering a quiet phase, according to foreclosure tracking firm RexReport.com.
Lenders are moving to foreclose on 1,139 properties at the Aug. 4 Bexar County auction, a 15 percent rise from the 995 filings in August 2008.
While postings are up from last year, August numbers are down significantly from July, when 1,510 properties were auctioned.

 LATE TO RECESSION, HOUSTON STILL STABLE

HOUSTON (Marcus & Millichap) – Houston was the last major metro to enter the recession, which should mitigate the effects of job losses on the office market for much of this year, according to a second-quarter Office Research Report by Marcus & Millichap.
The metro traditionally is late to economic booms and recessions, which helped to sustain employment growth in 2008.
“Office investment opportunities are prevalent in Houston, which should keep deal flow healthier than the national average and support a significantly lower price correction,” says Brent Smith, regional manager of the Houston office of Marcus & Millichap.
Among the most significant aspects of the report:
●
Companies in Houston are expected to cut payrolls by 55,000 positions this year, a 2.1 percent decline in overall employment.
●
Construction is accelerating to 3.7 million sf this year, compared with 3.4 million sf last year. Despite the increase, the number of new projects that break ground in the second half of the year is expected to decline as construction loans evaporate.
●
As the local economy weakens, office vacancy is projected to finish 2009 at 14.9 percent, a 220 basis point rise from year-end 2008 and the highest rate since mid-2006.
●
Although rent growth in Houston has been the strongest in the country over the past year, job losses are beginning to weigh on the sector. As a result, asking rents are forecast to slip to $23.31 per sf by year end while effective rents retreat to $19.81 per sf, annual declines of 3.1 percent and 4.1 percent, respectively.

 904 WEST GOES GREEN

AUSTIN (Austin American-Statesman) – Construction is underway on 904 West, the first downtown condominium project to feature photovoltaic solar energy systems.
Located at 904 West Ave., the $8 million, 33-unit development will boast other green features including tankless water heaters, Energy Star–rated appliances and LED lighting.
The two-story building will include two commercial units, nine live-work units and 22 residential units.
The development is scheduled for completion by this winter.

 2009 TEXAS CONSTRUCTION DROPPING

TEXAS (Dallas Business Journal) – Construction starts in Texas are expected to fall 21 percent to $49.8 billion during 2009, according to a report by McGraw-Hill Construction.
Dallas–Fort Worth is predicted to lead the state with $4.2 billion in residential construction, $6.3 billion in nonresidential construction and $3.6 billion in nonbuilding construction.
Statewide, non-building construction is the only sector expected to improve, with 12 percent growth expected.

 TWO TEXAS METROS AMONG MOST UNDERVALUED

HOUSTON (U.S. News & World Report) – Houston and College Station–Bryan are among the ten most-undervalued places to live in the United States, according to U. S. News & World Report.
Houston ranked second thanks to its relatively stable housing market, pro-business climate and sound local economy.
"The medium- and long-term prospects for Houston are extremely good," said Dr. Jim Gaines, research economist with the Real Estate Center at Texas A&M University. "[Houston has] good demographic growth, job growth and a reasonably balanced housing market."
College Station–Bryan, the only other Texas metro to make the list, ranked ninth.

 FAULTY APPRAISALS HURT HOME BUILDERS

WASHINGTON (National Association of Home Builders) – Twenty-six percent of home builders have seen lost sales as appraisals come in significantly below the contract sales price, according to a study conducted by the National Association of Home Builders (NAHB).
"Home builders are increasingly concerned that inappropriate appraisal practices are needlessly driving down home values. This, in turn, is slowing new home sales, causing more workers to lose their jobs and putting a drag on the economic recovery," said Joe Robson, NAHB chairman.
According to Robson, construction of 100 single-family homes generates 324 local jobs, $21.1 million in local income and $2.2 million in taxes and other revenue for local governments in the first year.
Of the builders surveyed, 60 percent claim that inadequate appraisals are creating major problems in the market. Fifty-four percent of those reporting appraisal problems saw appraisal amounts less than the cost to build.
Robson blames the surge of faulty appraisals partly on foreclosure and distressed sales.

 SA OFFICE MARKET'S SECOND-QUARTER BOUNCE

SAN ANTONIO (NAI REOC Partners) – The survey of more than 26 million sf of local office space revealed positive activity in the second quarter despite lingering economic uncertainty, according to the research department of local commercial real estate firm NAI REOC Partners.
In response to aggressive development last year, the citywide office market vacancy rate shot up to 17.1 percent at the end of 2008. The office market lost ground in the first quarter causing the citywide vacancy rate to climb to 18.3 percent. Since then, more than 350,000 sf of new leases and expansions have been signed — more than double the amount recorded in the first three months of the year.
Improvement in the citywide vacancy rate over the quarter was mitigated by the delivery of three newly completed office projects — the Oaks at University Business Park, Alon Town Centre Building 200/300 and The Ridge at Loop 1604 — totaling 168,732 sf.
The downtown market remained soft but stable over the quarter with a second-quarter vacancy rate of 20.6 percent compared with 20.5 percent last quarter. Over the year, however, the CBD vacancy rate increased from 17.9 percent. In response, the average quoted rental rate has displayed a steady decline, dropping from $19.22 a year ago to $19.05 last quarter to $18.95 currently.
The Northwest vacancy rate improved from 20.8 percent last quarter to 19 percent currently while the average quoted rental rate increased to $19.92 — up 14 cents over the quarter. In contrast, both the Core North Central and Far North Central sectors experienced negative absorption in the second quarter, moving vacancy up over the quarter from 12.5 percent to 12.9 percent and from 23.3 percent to 23.9 percent, respectively.
The average quoted rental rate for office space in the Far North Central sector continued to climb, rising 41 cents from last quarter to reach $25.64 while the average rent in the Core North Central market retracted 18 cents to $20.81.

 SALES TAX REVENUE DROPS

AUSTIN (Dallas Business Journal) – June sales tax collections dropped 11.2 percent from last year as the state collected $1.57 billion.
Texas Comptroller Susan Combs distributed rebates to local governments totaling $426.7 million, a decrease of 8.8 percent.
"The oil and gas, construction and retail trade sectors showed continued weakness, resulting in a sharp decrease in sales tax collections in June," according to Combs.
Sales tax allocations made in July, based on sales transacted in May, were distributed as follows:
●
Texas cities: $284.3 million, an 8.8 percent decrease from last year;
●
Texas counties: $26 million, a 10 percent decrease; and
●
special purpose taxing districts: $16.6 million, a 5.5 percent decrease.

 TEXAS ENERGY PROJECTS STIMULATED

AUSTIN (San Antonio Business Journal) – More than $218 million in stimulus funds will be used to help state and local governments cut energy consumption and reduce greenhouse gas emissions.
“This is a tremendous opportunity for agencies in state and local government to move forward with projects that will save valuable taxpayer dollars through energy efficiency and help Texas meet clean air goals and reduce its energy use,” said Comptroller Susan Combs, whose office oversees the State Energy Conservation Office, which will administer the funds.
About $158 million will go toward a revolving loan program. The State Energy Conservation Office will accept applications for loans up to $10 million at interest rates
as low as 2 percent. The office will use the money that’s repaid to make more loans.
Nearly $17 million will provide grants toward the purchase of alternative fuel vehicles and alternative fueling stations for government vehicles as well as energy-efficient traffic signals.
About $30 million will help public entities install renewable-energy technologies such as solar, wind, biomass, hydroelectric and geothermal projects. Remaining funds will go toward energy training, education and outreach.

 2,400 GM WORKERS BACK ON THE JOB

ARLINGTON (Dallas Morning News) – Nearly 2,400 workers will return to the local General Motors Assembly Plant Monday after a two-month shutdown.
GM closed 13 of its North American factories in May in an effort to reduce inventory.
Arlington factory workers produce Chevrolet Tahoe, GMC Yukon and Cadillac Escalade sport utility vehicles.
Due to recent modifications to the 2007 United Auto Workers contract, GM workers will shift to four ten-hour workdays most likely beginning in September.
A two-week shutdown is already scheduled for the Arlington factory starting Aug. 3; another move to slash SUV inventories.

 TUSCAN VILLAGE UNDERWAY FOR ACTIVE SENIORS

LAKEWAY (Austin American-Statesman) – Construction is underway on the 280-home Tuscan Village active seniors’ neighborhood off Lohman's Crossing.
The 42-acre community will feature a clubhouse, outdoor pool, fitness center, retail shops, doctors' offices and a 12,000-sf library.
Tuscan Village's first phase will include condominiums, townhomes and villas. The condos will total 900 sf and will be priced in the upper $100,000s. Townhomes will range from 1,200 to 1,800 sf, starting in the $240,000s. The villas, priced starting in the $330,000s, will range in size from 1,600 to 3,300 sf in one or two stories.
The project's second phase will be on 18 acres and will offer care and independent living for those suffering from dementia and Alzheimer's disease.

 CNNMONEY: NORTH TEXAS BEST PLACE TO LIVE

NEW YORK (CNNMoney.com) – Two North Texas communities cracked the top 25 on CNNMoney’s list of best places to live in the United States.
Keller, with a 5.8 percent unemployment rate and population that has tripled in the last 20 years, ranked seventh.
CNNMoney attributed the city’s success to its healthy economy — FedEx, Fidelity Investments and travel company Sabre Holdings have major offices here — as well as to “immaculate” parks and its new town center.
Mansfield, which boasts an annual art fair, music festival, holiday parade, Hawaiian Falls water park and Big League Dreams ballpark, ranked 24th.
Louisville, Colo., came in first.

 FULL PROPERTY TAX EXEMPTION FOR TEXAS VETERANS

AUSTIN (North Texas e-News) – A new law allows certain Texas veterans to apply for exemption from 100 percent of their local property taxes. The exemption applies only to the person's residential homestead property.
Under HB 3613, which became law during the recent legislative session, the homeowner must receive 100 percent disability compensation from the U.S. Department of Veterans Affairs to qualify for the exemption.
To apply, veterans must complete the State Comptroller's Form 50-764 and submit it to the appraisal district office along with a copy of their driver’s license or ID card and a copy of the VA Disability Award Letter from the Department of Veteran Affairs showing the 100 percent service-connected disability.

 PICKENS POSTPONES PAMPA PROJECT

PAMPA (Houston Chronicle) – Texas oil tycoon T. Boone Pickens has announced that he is delaying — not canceling — his so-called Pampa project.
The $10 billion wind energy project will be postponed until 2013 when a $4.9 billion transmission line is expected to be completed.
"Financing is tough right now, so what is going to happen is it's going to be pushed back a year or two," said Pickens, whose company, Mesa Power LLP, ordered 667 wind turbines from General Electric Co. for delivery in first quarter 2011.
Pickens has yet to decide whether the turbines will be used elsewhere or stored until the Pampa project resumes.

 $160 MILLION POURS INTO WATER PROJECTS

WASHINGTON (Austin Business Journal) – The Texas Water Development Board has been awarded $160 million to help finance the cost of replacing aging water infrastructure.
Environmental Protection Agency officials say the funds, part of the American Recovery and Reinvestment Act, will allow state and local governments to invest in projects essential to protecting public health and the environment.
The money allocated to Texas will be used for the Drinking Water State Revolving Fund program, ultimately providing low-interest loans for drinking water systems to finance infrastructure improvements.
Texas' $160 million is part of $2 billion being provided nationwide by the EPA.

 TEXAS' SMALL BUSINESSES BOOMING

TEXAS (Dallas Morning News) – The Lone Star State has managed to gain small businesses despite the recession, according to the U.S. Small Business Administration Office of Advocacy.
As the number of self-employed workers fell 2 percent nationwide to 15.9 million last year, Texas figures rose nearly 2 percent to 1.1 million.
The Small Business Economy report indicated a 1.4 percent rise in the number of Texas employer firms, to 449,681. Meanwhile, the number of U.S. employer firms remained flat at 6.1 million.
Nearly 90 percent of those businesses are estimated to employ fewer than 20 people.

 CAPITAL CITY OFFICE VACANCY CLIMBS

AUSTIN (Austin American-Statesman) – Despite an office market that is still soft, leasing activity is picking up, according to Oxford Commercial.
The vacancy rate for Class-A properties in Austin averaged 23.7 percent in second quarter 2009, up from 16.6 percent one year ago.
Class-A rents were down 5.8 percent, averaging $28.49 per sf per year.
The overall vacancy rate for all classes rose to 21.3 percent from 16.5 percent in second quarter 2008, while average rents fell to $26.08 from $26.66 last year.
Total Austin vacancy equates to 9.1 million sf, roughly equivalent to the total space downtown.

 TEXAS-SIZE GROWTH SPURT

TEXAS (U.S. Census Bureau) – Round Rock has been named the second fastest-growing city in the nation from 2007 to 2008 with an 8.16 percent rise in population, according to the U.S. Census Bureau's 2008 population estimates.
In all, four of the ten fastest-growing large cities were in Texas, including McKinney (fifth), Killeen (ninth) and Fort Worth (tenth).
Four Texas cities were also among the ten largest numerical gainers — Houston (third), San Antonio (fifth), Fort Worth (sixth) and Austin (ninth).
McKinney was the nation's fastest-growing city between April 1, 2000, and July 1, 2008, as its population more than doubled to 121,211.

 NEW PILOT PROGRAM FOR PROPERTY TAX APPEALS

FORT WORTH (Fort Worth Business Press) – The recently signed-into-law HB 3612 establishes a new property tax appeals option for people whose property is appraised at over $1 million. The option will be tested in a three-year pilot program that begins Jan. 1.
Typically, property owners appeal the assessed value to their local appraisal review board (ARB). If still dissatisfied, they may appeal the ARB decision to district court.
Under the new pilot program, owners of real and personal property (not including industrial property or minerals) can instead appeal ARB decisions to an administrative law judge (ALJ) from the State Office of Administrative Hearings sitting in the county where the property is located. The ALJ issues a determination within 30 days of the hearing.
The process is intended to provide a more expedient and less expensive route for property owners to appeal ARB decision.
The pilot program will apply only to property owners in Bexar, Cameron, Dallas, El Paso, Harris, Tarrant and Travis Counties.

 NEW PLANS HELP NEW HOMEOWNERS USE TAX CREDIT

WASHINGTON (Nation's Building News) – The Texas Department of Housing and Community Affairs has introduced two loan programs designed to help first-time homebuyers apply the new $8,000 tax credit toward down payments and closing costs.
The 90-Day Down Payment Assistance Program and the Mortgage Advantage Program will allow consumers to receive a short-term loan before filing for and receiving the federal tax credit. Consumers can apply these loans toward down payments and closing costs.
Both programs provide assistance of up to 5 percent on the first lien mortgage, but the 90-day program maxes out at $7,000 while the Mortgage Advantage Program’s limit is $6,000.
Repayment times also vary for the two programs, at 90 days and 120 days, respectively.
More information about these programs is available at the Texas Department of Housing and Community Affairs' website.

 TEXAS JOB LOSSES SLOW

AUSTIN (Austin American-Statesman, Dallas Morning News) – Texas saw its seventh consecutive month of job losses in May, but the decline was the smallest in a year, according to the Texas Workforce Commission.
Across the state, employers cut payrolls by 24,700 nonfarm jobs as the unemployment rate jumped to 7.1 percent from a revised 6.6 percent in April.
Job losses should slow in the coming months, but Keith Phillips with the Federal Reserve Bank of Dallas' San Antonio branch does not expect a full labor market recovery until the second half of 2010.
Meanwhile, the Austin area stood alone for the fourth month in a row as the only large Texas metro area to add jobs.
The Austin–Round Rock area gained jobs at a rate of 0.5 percent in May compared with one year
earlier.
Austin last experienced negative job growth in January 2004.

 TEXAS WORKERS MORE CONFIDENT

TEXAS (Austin Business Journal) – The Texas Employee Confidence Index increased for the third month in a row, according to the Spherion Employment Report.
The index rose three points to 53.8 in May.
Report findings include:
●
Thirty-two percent of workers believe the economy is getting weaker (down from 42 percent in April).
●
Fifty-eight percent of workers believe fewer jobs are available (down from 70 percent in April).
●
Fifty percent of workers are confident in their ability to find a new job (up from 45 percent in April).

 SAN ANGELO LEEDS IN ZERO-ENERGY DESIGN

SAN ANGELO (San Angelo Standard-Times) – San Angelo has its first zero-energy Leaders in Energy and Environmental Design (LEED) house. It's also the first zero-energy LEED home in the nation to be funded by the U.S. Department of Housing and Urban Development.
The three-bedroom, two-bath home is in the 800 block of West 18th St.
At 1,300 sf, the house was built to meet the needs of a low- to moderate-income family.
Total cost for the concept house was $105,000 with green additions to the lot bringing the total cost to about $152,000.
Two more zero-energy houses are planned for Rio Vista and Fort Concho.

 SAN ANTONIO RECEIVES DEFENSE FUNDING

SAN ANTONIO (San Antonio Business Journal) – The U.S. House Armed Services Committee has approved $12.9 million for San Antonio defense projects.
Kelly Annex Field will receive $7.9 million of the funding for the planned upgrade of an aircraft maintenance building. The building will be brought up to code compliance.
The remaining $5 million will be used to produce unmanned aerial vehicles that use Blacklight Night Vision Advanced Technology.
This technology is manufactured by San Antonio–based Mission Technologies Inc.

 BEWARE REPEAT FORECLOSURE POSTINGS

AUSTIN (Austin American-Statesman, Real Estate Center) – Foreclosure postings continue to rise in Central Texas, but experts note that the numbers are inflated by repeat postings.
In fact, these repeat postings account for almost half the total of foreclosure postings in the area.
Travis County reported 782 foreclosure postings for the July 7 auction, an increase of 117 percent, according to Foreclosure Listing Service Inc.
Williamson County postings rose 111 percent to 452. Hays County reported 143 postings, a 104 percent increase, while Bastrop County had a 72 percent increase to 86.
The sale of distressed and foreclosed properties so far does not appear to be significantly affecting home values, according to Jim Gaines, research economist with the Real Estate Center at Texas A&M University.
Central Texas' median home sales price in May was down only 1 percent from 2008.

 DFW HOME PRICES AT 1990S LEVELS

DALLAS (Dallas Morning News) – Inflation-adjusted home prices in the Dallas–Fort Worth area have returned to 1990s levels, according to a report released yesterday by the Joint Center for Housing Studies at Harvard University.
Falling home prices have resulted in billions of dollars in residential values being eliminated in North Texas.
The report found that U.S. home equity fell by $2.5 trillion in 2008, off $5.9 trillion — or 43 percent — from 2005, when adjusted for inflation.
Nationwide, adjusted median home prices have dropped nearly 30 percent since 2005.

 TEXAS RANKS FIRST FOR BUSINESS

TEXAS (Austin Business Journal) – Texas stands out as the top state for business, according to Directorship magazine.
Texas "has a pro-business tax climate that ranks third, a low cost of living, a relatively solid economy and a litigation environment that ranks tenth on our list," the magazine reported. "Texas also ranks first in the number of Fortune 500 companies located there."
Major corporate relocations and expansions such as Comerica's move to Dallas and Caterpillar's new plant in Seguin were highlighted as reasons for Texas' ranking.
Directorship evaluated states' overall economies, tax climates, cost of living and education to determine rankings.

 ALAMO CITY SEES GREEN

SAN ANTONIO (PRNewswire) – Greenstar North America held the grand opening Wednesday for the largest recycling facility in Texas.
The 180,000-sf facility at 1228 Cornerway Blvd. has the capacity to process 20,000 tons per month.
Greenstar employs approximately 100 people at the new plant and accepts single stream materials from other recycling programs across the Central Texas and South Texas regions.
The Houston-based company has seen a rise in recycling rates across Texas markets, particularly in San Antonio where rates have increased as high as 200 percent over the previous collection approach.
During the last two years, Greenstar has invested over $300 million in its U.S. recycling business, of which $50 million has been invested in Texas.

 HOUSTON, DFW HOUSING MARKETS SHINE

HOUSTON (Dallas Morning News) – The Brookings Institution has named Houston and Dallas–Fort Worth two of the top housing markets in the country.
Houston ranked first and DFW third among metro areas that have been the least affected by falling home prices.
Home prices in DFW were up slightly in first quarter 2009 compared with those in first quarter 2008, according to the Federal Housing Finance Agency's quarterly House Price Index.
Of the top 100 metro areas, 38 avoided home-price declines over the last year.

 SAN ANTONIO ECONOMY OUTPERFORMS NATION

SAN ANTONIO (San Antonio Express-News) – The San Antonio economy has outperformed all of the nation's largest cities through first quarter 2009, according to a Brookings Institution report.
The city has become accustomed to being labeled a top economy. It recently ranked fifth on Forbes.com's list of cities most likely to bounce back quickly from the recession.
San Antonio's economy — driven by sectors such as health care and insurance — has benefited greatly from military expansions and relatively stable housing prices.
The Brookings Institution report measured changes in employment totals, unemployment rates, housing prices, the values of goods and services produced by cities, and other factors.
Other Texas cities listed as top-performing metro areas include:
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Austin (third),
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Houston (fourth),
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Dallas (fifth),
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McAllen (sixth) and
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El Paso (11th).

 LOWE'S SWINGS INTO SAN ANTONIO

SAN ANTONIO (San Antonio Business Journal) – Lowe's Cos. Inc. opened the doors today at its newest San Antonio location.
The home improvement store on Goliad Rd. in Southeast San Antonio will encompass 103,000 sf with an adjacent garden center.
Lowe's has hired 120 people to staff the $12 million store.
The second-largest home improvement retailer in the world, Lowe's has more than 1,675 stores in the U.S. and Canada.

 SOL PROVIDES NET-ZERO LIVING

AUSTIN (Austin American-Statesman) – Three miles from downtown in East Austin, Sol (short for Solutions Oriented Living) is setting the bar for green design.
The subdivision will feature 40 homes on Perry Rd., near Airport Blvd. and Bolm Rd.
Solar power, efficient heating and cooling systems, spray-foam insulation, natural lighting and metal roofs will allow the two- and three-bedroom homes to produce at least as much energy as they consume over a year.
Developers plan to sell 22 of the houses at prices ranging from $217,000 for a 1,100-sf home to $345,000 for a 1,850-sf unit.
Sixteen units will be set aside for lower-income buyers and renters. These buyers will have mortgages in the $90,000 to $100,000 range.

 TEXAS STILL BUYER'S MARKET

TEXAS (Real Estate Center, The Herald-Zeitung) – Despite rising foreclosure rates in the United States (now nearly 32 percent), the rate in Texas is down 14 percent since last year.
Jim Gaines, research economist with the Real Estate Center at Texas A&M University, said the Texas housing market is doing very well compared with the rest of the nation.
"We're being compared to large, high-growth states like Florida, New York, California and Illinois, and our housing market is in much better shape. This is partly because about four or five years ago, we didn't have the big run-up in prices that many of those states had," Gaines said.
Texas also benefits from a lack of overbuilding, which often creates an excess of inventory to drive down home prices.
Affordable homes, low mortgage and interest rates, and first-time homebuyer tax credits also make this an ideal time to buy a home, according to Gaines.

 TEXAS QUICK TO BOUNCE BACK FROM RECESSION, FORBES SAYS

WASHINGTON (Forbes) – Several Texas cities are poised for a quick recovery from the national recession, according to Forbes.
Austin–Round Rock ranked first on the magazine’s recent list of ten cities most likely to bounce back quickly.
Meanwhile, San Antonio ranked fifth, Dallas–Fort Worth–Arlington seventh and McAllen-Edinburg-Mission ninth.
To compile its list, Forbes looked at estimates from Moody's Economy.com of the projected gross domestic product of metropolitan areas across the United States, as
well as unemployment figures from the Bureau of Labor Statistics and home prices, incomes and affordability data from the National Association of Home Builders.
Forbes also put together a list of ten worst cities for recession recovery. No Texas cities made that list.

 PERRY MOVES TO PROTECT LANDOWNERS

AUSTIN (Austin Business Journal) – Governor Perry signed legislation yesterday that will protect Texas landowners from eminent domain.
If approved by voters in November, House Joint Resolution 14 will establish greater protections for property owners by including landowner rights in the Texas Constitution.
"Land ownership is an essential part of Texas' culture, and we owe it to our citizens to protect their rights as landowners and members of the community from government entities that overstep their bounds and abuse eminent domain," Perry said.
The resolution will require two-thirds of all house members to approve any request granting eminent domain authority to a party.
The bill will also prevent government entities from labeling a neighborhood as “blighted” without taking into account each individual property.

 TEXAS STATE UNEMPLOYMENT RATES CONTINUE RISING, CENTRAL TEXAS EXPERIENCES JOB GROWTH

TEXAS (Austin American-Statesman) – The job market in Texas remains weak and could deteriorate as the year progresses, but Wells Fargo Economics Group Senior Economist Eugenio Alemán expects manufacturing firms to start showing growth within the next six months.  The Austin-area economy has stopped declining and might be ready for a gradual recovery in the next year. The unemployment rate rose to 6.4 percent in April, but Central Texas has had continued job growth thus far.  The Dallas unemployment rate hit a 31-year high in March of 7.2 percent. Meanwhile, Fort Worth is expected to break its previous record (set in 1992) of 7.6 percent unemployment. Alemán predicts a recovery "well into 2010."  The Houston economy "went into shock" in September 2008 when oil prices dropped. Median home prices have fallen 8 percent, and the unemployment rate is expected to rise to 7.4 percent.  The San Antonio economy is "doing relatively well," says Alemán. The unemployment rate could hit 7 percent by year's end, however, and the recession has left no sector untouched.

 

 TEXAS HOUSING MARKET IN BETTER SHAPE THAN REST OF COUNTRY

TEXAS (Real Estate Center, The Herald-Zeitung) – Despite rising foreclosure rates in the United States (now nearly 32 percent), the rate in Texas is down 14 percent since last year.  Jim Gaines, research economist with the Real Estate Center at Texas A&M University, said the Texas housing market is doing very well compared with the rest of the nation.  "We're being compared to large, high-growth states like Florida, New York, California and Illinois, and our housing market is in much better shape. This is partly because about four or five years ago, we didn't have the big run-up in prices that many of those states had," Gaines said.  Texas also benefits from a lack of overbuilding, which often creates an excess of inventory to drive down home prices.  Affordable homes, low mortgage and interest rates, and first-time homebuyer tax credits also make this an ideal time to buy a home, according to Gaines.

 TEXAS QUICK TO BOUNCE BACK FROM RECESSION, FORBES SAYS

WASHINGTON (Forbes) – Several Texas cities are poised for a quick recovery from the national recession, according to Forbes.  Austin–Round Rock ranked first on the magazine’s recent list of ten cities most likely to bounce back quickly.  Meanwhile, San Antonio ranked fifth, Dallas–Fort Worth–Arlington seventh and McAllen-Edinburg-Mission ninth.  To compile its list, Forbes looked at estimates from Moody's Economy.com of the projected gross domestic product of metropolitan areas across the United States, as well as unemployment figures from the Bureau of Labor Statistics and home prices, incomes and affordability data from the National Association of Home Builders.  Forbes also put together a list of ten worst cities for recession recovery. No Texas cities made that list.

 GOV. PERRY MOVES TO PROTECT LANDOWNERS

AUSTIN (Austin Business Journal) – Governor Perry signed legislation yesterday that will protect Texas landowners from eminent domain.  If approved by voters in November, House Joint Resolution 14 will establish greater protections for property owners by including landowner rights in the Texas Constitution.  "Land ownership is an essential part of Texas' culture, and we owe it to our citizens to protect their rights as landowners and members of the community from government entities that overstep their bounds and abuse eminent domain," Perry said.  The resolution will require two-thirds of all house members to approve any request granting eminent domain authority to a party.  The bill will also prevent government entities from labeling a neighborhood as “blighted” without taking into account each individual property.

 

 MORE THAN ONE WAY TO LOSE YOUR HOME

IRVING (Associated Press) – A growing number of homeowners who are current on their mortgages are discovering there are other ways to lose their homes.
Falling behind on homeowner association dues, for example.
Many homeowners are learning that condo and neighborhood associations may have the right to foreclose when dues are not paid. In fact, that right is often written into the purchase agreement signed by the homeowner.
According to Dallas-based Foreclosure Listing Services, foreclosure attempts initiated by homeowner associations in 19 Texas counties are up 30 percent from two years ago.
In the San Antonio area alone, foreclosure actions by homeowner associations jumped from 21 in April 2008 to 170 a year later, according to RexReport.com.
More than 59 million people live in more than 300,000 association-governed communities nationwide, according to the Community Associations Institute, the nation's largest group for homeowners and condo boards.
To learn more about what homeowner associations can and can't do under state law, read Judon Fambrough’s Tierra Grande article “Legislature Limits POA Power.”

 TEXAS CITIES WITH 'NEXT GEN' APPEAL

TEXAS (San Antonio Express-News, Next Generation Consulting) – Four Texas cities are among the top places in the nation for young professionals to live and work, according to a list released yesterday by Next Generation Consulting (NGC).
On NGC's "Next Cities" list, Austin ranked sixth among cities with populations greater than 500,000. San Antonio landed 17th and Houston 20th. Lubbock ranked 16th among cities with populations of 200,000 to 500,000.
To compile the rankings, NGC analyzed 45 categories for all U.S. cities with more than 100,000 people. Among those categories were earning, learning, vitality, around town, after hours, cost of lifestyle and social capital.
"Simply being the cheapest place to live, or the city with the most jobs, is not a long-term workforce strategy," said NGC founder Rebecca Ryan. "The next generation is very savvy about choosing where they'll live."

 RENEWABLE ENERGY FIRM COMING TO SAN ANTONIO

SAN ANTONIO (San Antonio Express-News) – Less than a month after the city council approved an $849 million energy conservation program, a Houston-based renewable energy firm has announced plans to set up shop in San Antonio.
Standard Renewable Energy’s new office should open next month, according to company CEO John Berger.
The firm, which sells solar and wind energy products and performs energy audits on homes, plans to employ 20 people initially. That number could increase to more than 100 if demand warrants, Berger said.

 TEXAS' CLEAN SWEEP

AUSTIN (Austin American-Statesman) – Texas received high marks as a clean-energy state in a recent study by Pew Charitable Trusts.
According to the study, Texas ranked second to California in the number of businesses and jobs tied to clean energy in 2007.
Pew researchers counted 68,200 businesses and 770,000 jobs across the United States. Of those, 4,802 businesses and 55,646 jobs were here.
The state also ranked third in clean-energy venture investments and fourth in clean-energy patents.
"Texas is a leader in the clean-energy economy and a strong national performer," said Kil Huh, who led the study. "Texas is the sixth-largest producer of wind energy in the world. The state's clean-energy economy is poised for incredible growth."

 Luxury Real Estate Team Has Goal to Raise $20,000

 CONSTRUCTION TARRIES NOT IN TARRYTOWN

AUSTIN (Austin-American Statesman) – A trend in home building is emerging as lots in neighborhoods with land appraised at more than $300,000 are being filled with high-priced homes.
Rapid change is taking hold of areas such as Tarrytown and Pemberton Heights, located west of downtown and the University of Texas and south of 35th St.
The value of these areas is translating into a stable market. In April, 12 Tarrytown and Pemberton Heights homes were sold with a median price of $650,000.
Eighteen homes were sold in April 2008 at a median price of $607,500.

 S.A. HITS HOSTING HOME RUN

SAN ANTONIO (San Antonio Express-News) – Alamo City was ranked the third best host city for a major sporting event by Robert Tuchman, president of Premier Corporate Events, in his new book.
Tuchman authored The 100 Sporting Events You Must See Live: An Insider’s Guide to Creating the Sports Experience of a Lifetime. He recognized San Antonio’s River Walk and downtown as “the perfect backdrop for any major sporting event.”
Topping the list were Miami and Indianapolis. And the top sporting event to see? The Masters golf tournament.

 POTENTIAL HOMEBUYERS EYE FORECLOSURES

DALLAS (Dallas Morning News) – Foreclosed homes have captured the interest of many potential homebuyers nationwide, according to a recent survey by Harris Interactive.
Of the 2,400 Americans surveyed, 55 percent said they would consider purchasing a previously foreclosed house.
Forty percent of those say they want to pay at least 50 percent less for a foreclosed home.
Additionally, almost 70 percent of renters interviewed said they were interested in looking at foreclosures.

 REPEAT FORECLOSURE POSTINGS RISE

AUSTIN (Austin American-Statesman) – Property foreclosures continue to rise in Central Texas, but the majority were repeat postings by lenders who have stopped short of seizing the homes.
In Travis County, 57 percent of the 441 postings for the June 2 auction were repeats, according to Addison-based Foreclosure Listing Service Inc., up from 49 percent in April and 37 percent in March.
Overall, June postings in Travis, Williamson, Hays and Bastrop counties were up 52 percent from a year
ago, the same percentage for the first half of the year.

 HOME SELLER AUDIT

AUSTIN (Austin American-Statesman) – To encourage sellers and buyers to make their houses more energy efficient, owners of homes older than ten years will soon be required to conduct energy audits on their homes before putting them on the market.
The city ordinance, which takes effect Monday, will not require sellers to make any improvements, but it will require them to disclose the results to prospective buyers.
The ordinance also has provisions for multifamily properties and commercial buildings but does not apply to condominiums or mobile homes. Owners who have made certain improvements under Austin Energy programs in the previous ten years also can disregard the ordinance.
The audits are expected to cost $200 to $300 for a typical home of 1,800 sf or less.
The reports, which will cover issues such as how much insulation the house has and the condition of the heating and cooling equipment, must be done by auditors who are certified by the Building Performance Institute.
Violations of the ordinance will be a Class-C misdemeanor punishable by a fine of up to $500.

 AUSTIN HOME SALES CLIMB

AUSTIN (Austin American-Statesman) – Area home sales reached their highest peak since September, signifying a stabilizing market to many agents.
The Austin Board of Realtors reports that 1,601 single-family homes were sold last month for a median price of $189,000. The 18 percent sales decline from April 2008 is the smallest percentage decline this year and only half as big as the January gap.
Currently, the market is extremely competitive for houses under $250,000, according to Jay Carter, an agent with LivingInAustin.com, with the best of these attracting multiple bids after just a day or so on the market.
However, it seems to be a buyer’s market for homes priced $350,000 and higher, with these homes sitting on the market longer and asking prices dropping significantly and frequently.

 TEXAS METROS TOP IN RETAIL SALES GROWTH

LAS VEGAS (PBBI) – Texas’ four major metros were among the top five U.S. metropolitan areas most likely to experience quarterly retail sales growth for the remainder of 2009 and into 2010, according to a study by Pitney Bowes Business Insight (PBBI).
Austin was ranked number one, showing consistent healthier growth in gross metro product, personal disposable income and a decline in personal bankruptcies.
Dallas came in third because of positive performance in all of its retail sectors. Projections say that both the drug store and value retail categories will experience comparable sales growth for the next six quarters.
PBBI ranked San Antonio fourth, predicting the city to be a top market in drug store and value retail sectors, sustained by growth in personal expenditures and consistent growth in gross metro product.
Houston was ranked fifth, thanks to strong comparative sales growth in the drug store and high-end retail sectors. PBBI projects that steady employment and gross metro product will keep Houston in a relatively good position in the value retail sector.

 HOUSTON HOME SALES PRICES HIT HIGH

HOUSTON (Houston Business Journal) – Area home prices hit a seven-month high in April amid the area’s 20th consecutive monthly fall in the number of single-family home sales.
The average sale price of a single-family home slipped 5.8 percent in April to $194,222 from $206,239 in April 2008, according to the Houston Association of Realtors. However, the figure is at its highest level
since September.
Additionally, demand for single-family rentals increased again last month.

 TEXAS LEADS U.S. IN HOME STARTS, SALES

TEXAS (Dallas Morning News) – Two Texas metros ranked highest in the country on Metrostudy's latest list of new home starts and sales.
Ranking first in the year-long survey was Houston with 22,502 home starts and 28,326 sales. Dallas–Fort Worth ranked second with 17,638 starts and almost 24,000 sales.
Austin was sixth with 8,617 starts and 10,627 sales. San Antonio came in at number 11 with 7,761 starts and 9,847 sales.

 FIRST-QUARTER MEDIAN HOME PRICES DOWN

WASHINGTON (Associated Press) – The median price of existing homes fell in 134 of 152 U.S. metros in the first quarter of this year compared with first quarter 2008, according to the National Association of Realtors.
About half of the market consisted of sales of foreclosures and other distressed properties. Overall, sales dipped 3.2 percent from last year.
The median sales price nationwide was $169,900, down 13.8 percent from a year ago.

 AUSTIN FORECLOSURE POSTINGS CLIMB

AUSTIN (Austin Business Journal) – The metro area experienced a 52 percent increase in foreclosure postings in the first half of 2009, compared with the same six months last year.
Addison-based Foreclosure Listing Service reports nearly 6,500 foreclosure postings over the last six months in Travis, Williamson, Hays and Bastrop counties.
Travis County postings were up 55 percent to 3,323; Williamson County was up 51 percent to 2,032 postings and Bastrop County saw a 56 percent increase to 448. Hays County saw the smallest increase for that time period, rising 39 percent to 688.
June brings a more positive outlook, with foreclosure postings in the overall metro area falling 12 percent to 1,125 notices, compared with this month.

 BEXAR COUNTY FORECLOSURES UP

SAN ANTONIO (San Antonio Express-News) – Bexar County properties posted for the June 2 auction rose 46 percent to 1,349, compared with the June 2008 auction.
According to Addison-based Foreclosure Listing Service, that brings the total number of foreclosure notices in the first half of 2009 to nearly 7,800, an increase of 40 percent from the same six months in 2008.
Additionally, First American CoreLogic reports that by the end of March, 4.1 percent of mortgage loans were 90 days or more delinquent, compared with 2.6 percent for the same period last year.
However, the rate of foreclosure on outstanding mortgage loans was 0.9 percent for March.
Up from 0.6 percent in 2008, it still remains well below the national foreclosure rate of around 2.1 percent, according to CoreLogic.

 CYBER COMMAND'S ECONOMIC IMPACT

SAN ANTONIO (San Antonio Express-News) – Air Force officials hope to have a newly created cyber command established and operating at Lackland Air Force Base by the close of 2009, an addition that would have a significant economic impact on the city.
Pending the successful completion of an environmental impact study to be completed by the end of the summer, the new command will oversee operations involving about 4,000 personnel at a dozen Air Force installations across the country.
The around-the-clock operation will add 400 job positions to Lackland, providing an annual economic impact of $30 million in salaries alone.
Bexar County Judge Nelson Wolff said locating the command at Lackland will create additional jobs in the private sector to support new missions in cyber command and would enhance local efforts to attract more National Security Agency missions.

 LATEST TG2GO VIDEO ONLINE

COLLEGE STATION (Real Estate Center) – Month's inventory measure is one way to determine the relative balance of housing supply and demand in a market. In the latest edition of TG2GO, Real Estate Center Research Economist Dr. Jim Gaines explains how to use this measure.
The video is available on the Center's website.

 HOME STARTS, INVENTORY DOWN IN SAN ANTONIO

SAN ANTONIO (San Antonio Express-News) – New home starts for first quarter 2009 were down by 40 percent from the same time last year, according to housing research firm Metrostudy.
Almost 1,400 new homes were built during the first quarter, and in the last 12 months ending in March, 7,762 homes started construction.
That's down 33 percent from the year before and is a far cry from the same periods in 2006 and 2007, when more than 17,000 homes started construction.
Builders continued their efforts to reduce the supply of new homes by selling 9,847 in the 12 months ending in March. New home inventory has dropped by more than 6,000 homes in the past 2.5 years, said Jack Inselmann, president of the U.S. Central Division of Metrostudy.

 DALLAS HOUSING INVENTORY DOWN

DALLAS (Dallas Morning News) – The number of Dallas-area homes for sale has dropped, a good sign for the residential sector.
In North Texas, about 39,000 preowned single-family homes were for sale through the Multiple Listing Service at the end of March. That’s a decline of 13 percent from a year earlier, according to the North Texas Real Estate Information Systems Inc.
The average asking price for Dallas homes listed for sale rose 3.6 percent over the last three months, but is still over 5 percent below prices one year ago.

 ENERGY STAR'S TAX-FREE WEEKEND

SAN ANTONIO (San Antonio Express-News) – Homeowners, developers, landlords and anyone else wishing to buy energy efficient appliances will be able to purchase them tax-free Memorial Day weekend across Texas.
May 23 through 25, taxes will be deducted from Energy Star–qualified appliances. This will include air conditioners under $6,000, washing machines, ceiling fans, dehumidifiers, dishwashers, light bulbs, programmable thermostats and refrigerators priced under $2,000.
The Energy Star label, developed by the Environmental Protection Agency, appears on appliances that use less energy or water than the industry standard to operate.
There is no limit on the number of Energy Star appliances that can be purchased tax-free.
Additionally, San Antonio Water System customers who purchase the highest efficiency washing machines, known as Tier 3, can also qualify for a $100 rebate on their water bill.

 MEDTRONIC BRINGING 1,400 JOBS TO SAN ANTONIO

SAN ANTONIO (San Antonio Express-News) – A company that specializes in diabetes equipment and education is branching out into San Antonio, bringing with it 1,400 jobs and $23 million in capital improvements to a new office building on the city’s northwest side.
California-based Medtronic Diabetes, a unit of Medtronic Inc., will start hiring this summer and begin operations at the 150,000-sf Overlook at the Rim building near Loop 1604 and I-10.
At the new Medtronic Diabetes Therapy Management and Education Center, employees will work with diabetes patients, their doctors and insurance companies as they receive treatment.
The 1,400 professional-level jobs will be filled over a five-year period. At capacity, the company payroll will be more than $44 million a year. According to local economic development leaders, this will translate into an annual impact of $75 million.
Medtronic Diabetes will receive about $14 million in incentives from the state, city, county, CPS Energy and the developer of the building, Transwestern.
San Antonio was selected after a year-long search during which the company considered 930 locations in all 50 states.

 ALAMO CITY GREEN PROGRAM TOPS AT AWARDS

SAN ANTONIO (San Antonio Express-News) – The National Association of Home Builders on Friday named San Antonio's green building program, Build San Antonio Green, the best in the nation.
San Antonio rolled out its first Green Building Awards program Friday to celebrate commercial and residential projects that have improved energy performance.
Build San Antonio Green has certified 254 homes. The program is geared toward new-home construction and remodeling, is based on common construction methods and ties into local utility rebate programs.
Build San Antonio Green is a partnership of the Greater San Antonio Builders Association, the City of San Antonio, Bexar County, CPS Energy, the San Antonio Water System, VIA Metropolitan Transit, Solar San Antonio, the Greater Bexar County Council of Cities and the Alamo Area Council of Governments.

 Pending Home Sales Rise, Housing Affordability Near Record

 FEWER TAX DOLLARS IN DALLAS COUNTY COFFERS

DALLAS (Dallas Morning News) – The recent trends of home foreclosures, declining building permits and high office vacancy rates will cause area property values to fall for the first time in years.
For many homeowners, this means a break in taxes owed on their properties. About 92 percent of all residential properties will either fall in value or remain the same, said Ken Nolan, Dallas County's chief appraiser.
On the commercial side, about 88 percent of properties will either lose value or remain unchanged, Nolan said.
In contrast, last year’s preliminary property values rose about 13 percent. In 2007 they rose 20 percent.
The Dallas Central Appraisal District will begin sending notices to property owners today. These are sent only if any change is made to the property or its value. Of the roughly 374,000 residential notices to be mailed, 55 percent will reflect a decrease in value, Nolan said.
This year's preliminary tax roll numbers will be released May 22.

 ANTI-FORECLOSURE BILL DEFEATED

WASHINGTON (Associated Press) – A plan to aid struggling homeowners was defeated in the Senate by a 45-51 vote on Thursday.
The bill would have allowed debt-ridden homeowners to ask a bankruptcy judge to reduce their mortgage payments.
The plan fell 15 votes short of the 60 needed for approval. Lawmakers worried it would encourage bankruptcy filings and spike interest rates.

 DALLAS FEBRUARY HOME PRICES SLIP

DALLAS (Dallas Morning News) – Dallas-area home prices decreased 4.5 percent between February 2008 and February 2009 and 11.1 percent from their peak in mid-2007, according to the latest measure by Standard & Poor's/Case-Shiller.
February's local numbers showed a slight improvement from January, when the Dallas index was down about 4.9 percent.
Housing analysts point to the Case-Shiller numbers as an indication that home price declines will be moderate in the months ahead.
Dallas’ 4.5 percent slip was the smallest among the 20 cities surveyed nationwide. It is the only Texas market included in the Case-Shiller monthly price index. Nationwide, prices dropped 18.6 percent.
The Case-Shiller survey tracks the prices of typical single-family homes in each metropolitan area. The index survey does not include condominiums and townhouses. It covers pre-owned properties, not new construction. The researchers compare sales of specific single-family homes over time.

 FORECLOSURE REPEAT FILINGS INCREASE

AUSTIN (Austin American-Statesman) – Foreclosure postings in Central Texas counties rose for the May 5 auction, according to Foreclosure Listing Service Inc., but there was also a surge in repeat postings.
Travis County had 692 filings, up 79 percent from May 2008. Williamson County's postings rose 53 percent to 389. Postings in Hays and Bastrop counties rose 29 and 33 percent, respectively. The majority of the postings for all four counties are residential properties.
The service reported that repeat foreclosures accounted for 49 percent of the filings for May in Travis County, up from 37 percent in April and 36 percent in May 2008.
In Williamson County, repeated postings increased from about 40 percent in April to 54 percent of May's total, both up from 38 percent a year ago.
In Hays County, 41 percent of May's postings were repeat filings, compared with 32 percent in April and 26 percent in May 2008.
In Bastrop, 53 percent of May's postings were repeated, up from 44 percent in April and 30 percent a year ago.

 NORTH TEXAS CONSTRUCTION FALLS IN MARCH

DALLAS (Dallas Business Journal) – The amount of new construction in North Texas initiated last month fell 25 percent over the same time period last year, a new report from McGraw Hill Construction concluded Wednesday.
Nonresidential contracts in March were valued at $244.8 million, 36 percent lower than the $380 million nonresidential contracts in March 2008.
Residential contract activity fell 16 percent, with contract values falling from $488 million in March 2008 to $409 million last month.
Year-to-date on a cumulative basis, the value of nonresidential activity dropped 34 percent to $1.1 billion and residential activity fell 34 percent to $958 million.
McGraw Hill Construction’s report measured the value of March contracts filed for future construction in the greater Dallas–Fort Worth area. The statistical area includes Dallas–Fort Worth–Arlington and the counties of Collin, Dallas, Delta, Denton, Ellis, Hunt, Johnson, Kaufman, Parker, Rockwall, Tarrant and Wise.

 TRAVIS COUNTY POSTS MODEST APPRAISAL INCREASES

AUSTIN (Austin American-Statesman) – Residential property appraisals rose an average of 3.8 percent in Travis County this year, the smallest increase in five years and less than a third of last year’s 12.2 percent jump.
According to the Travis Central Appraisal District, the average home value was $295,744 countywide. In Austin, the average valuation rose 4.5 percent this year to $278,027, compared with a 12.8 percent increase last year.
Average values fell in five of the 14 school districts that are all or partly in the county, according to data released Wednesday. The biggest decline was in the Marble Falls district, where values fell 2.3 percent.
Among the other districts, increases were low even in high-end areas such as Eanes, where values rose 2.6 percent to $713,763.

 MORE FARMS, FEWER ACRES, STUDY SHOWS

COLLEGE STATION (Texas AgriLife Extension Service) – Land classified as farms, ranches and forests declined in 156 of Texas’s 254 counties between 1997 and 2006, according to a newly released study. In all, there was a loss of 2.1 million acres of agricultural lands since 1997, the report notes.
The study, commissioned by American Farmland Trust, indicated that about 50 percent of the land converted from agriculture to other uses was concentrated in the state’s 50 highest-growth counties. These counties lost more than one million acres while increasing in population by just over four million residents.
"In some regions, including South Texas and the Edwards Plateau, our state’s rural lands continue to be divided into smaller acreages, and this may have consequences for future profitability,” said Dr. Neal Wilkins one of the study's authors and director of the Texas A&M Institute of Renewable Natural Resources.
One positive note, however, is in the northern areas of the state where some 2.5 million acres were consolidated into larger operations, Wilkins said.
While the report showed an increase of about 1,900 new farms and ranches in Texas, he noted, the average size dropped to 527 acres in 2007 from 585 acres ten years earlier.
Among the study's other findings:
●
Texas now has about 142 million acres of private farms, ranches and forests, equaling 84 percent of the state's entire land area.
●
The state has more than 247,000 farms and ranches.
●
As of 2007, operations with less than 100 acres occupied about 3 percent of the state's land but more than 50 percent of the farms and ranches.
●
Texas land values increased about 140 percent to an average of $1,196 per acre, though much higher values are found near metropolitan areas.
For more on the study's findings, visit the Texas AgriLife Extension Service's website. And to learn more about shrinking tracts in rural Texas, read "Fragmentation" from the April 2005 issue of Tierra Grande.

 SA INDUSTRIAL MARKET STARTS YEAR OFF SLOW

SAN ANTONIO (NAI REOC) – NAI REOC Partners' first quarter 2009 survey of nearly 31 million sf of San Antonio industrial properties showed that development of speculative industrial space has slowed dramatically compared with the past two years.
More than 1.8 million sf was delivered in 2007 and over one million in 2008, but no new projects were completed in first quarter 2009 and only three speculative projects are currently under construction. Those include two southside warehouse facilities — East Kelly Railport 3 (275,000 sf) and the Shelby Building (125,000 sf) at the Speedway Business Park — and the Alamo Business Park (40,000 sf) along the northeast I-35 corridor.
Nearly 357,000 sf of gross leasing activity was signed in the first three months of the year, including the renewal and expansion of Sterling Foods at Arion Business Park (149,687 sf), the expansion of Zachry at Wetmore Business Center II (20,700 sf) and a new lease by MEI Inc. at Cornerstone Industrial Park (29,980 sf).
On the other hand, new vacancies and the return of sublease space countered gross leasing activity, reducing the citywide net gain of occupied space to less than 45,300 sf of positive net absorption in the first quarter.
At the close of the first quarter, the citywide average quoted triple net rental rate declined to $5.57 per sf annually, down 7 cents or 1.2 percent compared with a year ago. At the same time, the citywide direct vacancy rate remained relatively stable at 13.6 percent, up only slightly compared with 13.5 percent recorded last year at this time.

 MULTIFAMILY RATES CONTINUE UPWARD AS OCCUPANCY FALLS

CARROLLTON (ALNsystems.com) – Although average rent for multifamily housing increased in many Texas cities last month, occupancy by and large continued to drop, according to the latest figures from ALN. Here's how some cities fared for the year ending March 2009:

Austin Occupancy decreased from 92.7 percent in March 2008 to 87.5 percent in March 2009. Average monthly rent remained at $824.

Dallas Occupancy decreased from 91 percent to 89 percent. Rent increased 0.8 percent, going from $770 to $776.

Fort Worth Occupancy dropped from 88.6 percent to 87.3 percent. Rent rose from $670 to $673, a 0.5 percent increase.

Houston Occupancy increased from 87 percent to 87.6 percent. Rent increased by 5 percent, going from $715 to $750.

San Antonio Occupancy decreased from 90 percent to 88.1 percent. Rent increased 1.5 percent, going from $682 to $693.

Lubbock Occupancy was at 89.8 percent last month, while average rent was $640.

Amarillo Occupancy was at 86.9 percent, while average rent was $585.

Abilene Occupancy was at 93.4 percent, while average rent was $603.

Corpus Christi Occupancy increased from 91.2 percent in March 2008 to 91.5 percent last month. Rent dropped 0.4 percent from $699 to $697.
For more information, visit ALN online.

 USDA GIVES A DAM

TEMPLE (U.S. Department of Agriculture) – The U.S. Department of Agriculture (USDA) is providing Texas $21.5 million to repair or mitigate 24 flood prevention dams, primarily in north central Texas, as part of the American Recovery and Reinvestment Act of 2009.
The USDA is directing technical and financial assistance available through this funding toward projects that are ready to begin and that will relieve stress on local economies through the creation of nearly 450 jobs in Texas.
For a list of projects ready for immediate implementation, see the USDA news release.

 DEMAND FOR REVERSE MORTGAGES RISING

LOS ANGELES (Los Angeles Times) – With the downtrodden economy weighing on their retirement funds, older homeowners are increasingly turning to reverse mortgages, the sometimes expensive loans that do not require payments until the borrower sells the home or dies.
The Federal Housing Administration (FHA) insured 11,261 reverse mortgages nationwide in March, a jump of 17 percent from the same month last year.
Experts say the loans, only available to those over age 62, are on the rise for several reasons, including provisions in the federal stimulus package that have made them cheaper and easier to obtain.
The loans are attractive because they require no credit report or proof of income since the homeowners don't make payments.
Increasingly, lenders say, even affluent seniors are relying on the loans to provide monthly spending money at a time when their retirement accounts and other income may be limited.
Under the terms of the stimulus package, the FHA is now insuring such loans up to $625,000, an amount nearly double last year's rate. That means banks and other lenders that make the loans are covered if the house declines in value.

 FREEMAN COLISEUM ADDS HORSE POWER

SAN ANTONIO (San Antonio Express-News) – Officials have broken ground on a 113,400-sf equine center and multiuse facility on the Freeman Coliseum grounds that will improve the venue for the rodeo’s horse show and create space for boat shows and other events.
The facility, set to open by early October, will take the place of three barns built about 60 years ago as part of the original stock show grounds.
The project will cost $10 million, split equally between the San Antonio Livestock Exposition and the Bexar County Community Arena's Board.
Funding for the board’s share of construction comes from revenue from rental fees and other sources, not from taxes, according to Derrick Howard, executive director of the arena’s board.
A second phase of construction adding 67,000 sf next to the new facility at a cost of $4.5 million is moving forward as well, officials said.

 MORE HOUSING NEEDED OUT WEST

EL PASO (El Paso Times) – Fort Bliss will see an influx of over 20,000 soldiers and their 30,000 family members in the next several years, and city officials say El Paso will have to add 8,000 multifamily units by 2012 to support the growth.
According to the El Paso Apartment Association, the city has over 30,000 apartments. More than 600 units are under construction or just now being completed. But a shortage of 4,867 multifamily units is forecasted for next year, a number that will grow each year if apartment construction does not pick up before 2010.
The difficult financing market and what some developers view as an underbudgeted military housing allowance for soldiers at Fort Bliss are causing hesitation from developers. The allowance is now $892 per month, including utilities, for married, non-officer soldiers.
To attract developers, the city council on March 31 approved rebating city fees on a sliding scale for developers building apartment complexes with 250 units or more. Although the city's department of economic development has received many calls from developers since the rebate was approved, no one has committed to building a project in El Paso.

 MORTGAGE APPLICATIONS RISE

NEW YORK (CNNMoney) – mortgage applications rose last week along with the demand for home purchase loans, according to data from the Mortgage Bankers Association (MBA).   The group’s seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ending April 3 increased 4.7 percent to 1,250.6.  Demand for home purchase loans, an indicator of home sales, far outweighed demand for refinancing. The MBA's seasonally adjusted purchase index of loans to buy homes rose 11.1 percent to 297.7.  Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 4.73 percent, up 0.12 percentage points from the record low reached the previous week.   The four-week moving average of mortgage applications, which smoothes the volatile weekly figures, was up 13.3 percent.

 ORANGE HAS ONE OF WORLD'S GREENEST PROJECTS

ORANGE (San Antonio Express-News) – Shangri La Botanical Gardens and Nature Center was among the ten projects in the world honored by the American Institute of Architects and its Committee on the Environment as one of the top green projects designed by its members.
Lake/Flato Architects designed the center using a variety of salvaged materials, including trees felled by Hurricane Rita, brick from a 1910 Arkansas warehouse, asphalt for the parking lot from a street repaving in Orange and cypress recovered from Louisiana river bottoms.
At Shangri La, solar panels placed throughout the property produce part of the center's energy needs. Roofing was designed to reflect heat and to collect rainwater, which then is used in toilets and for the landscape irrigation system.
Shangri La, which opened to the public last March, was the first project in Texas to achieve the platinum rating from the U.S. Green Building Council's Leadership in Energy and Environmental Design program, considered the country's most arduous for green building.
The Top Ten Green Projects program celebrates projects that reduce environmental impact by techniques such as reusing existing structures, lowering water and energy consumption and using sustainable materials.

 NORTH TEXAS COMMERCIAL FORECLOSURE POSTINGS RISE

FORT WORTH (Fort Worth Star-Telegram) – The four-county area of North Texas saw a 14 percent increase in commercial foreclosure postings during first quarter 2009, according to Addison-based Foreclosure Listing Service.
There have been 658 postings during the last four months in Tarrant, Dallas, Denton and Collin Counties, up from 577 during the same period in 2008.
Foreclosure Listing Service reports a decrease from 290 in 2008 to 203 this year in Tarrant County.
Dallas County saw a 31 percent increase in commercial foreclosure postings, from 227 in 2008 to 297 in 2009.
Collin County’s 75 postings over the last four months has caused a 108 percent increase from 36 postings in first quarter 2008.
Denton County experienced the highest increase, 246 percent, in North Texas, with postings climbing from 24 in 2008 to 83 in 2009.
The biggest foreclosure postings increase by market in North Texas was in office buildings. The 80 postings so far this year is a 129 percent increase from the 35 postings in the first four months of 2008.

 TEXAS DOMINATES BEST CITIES FOR JOB GROWTH

(Forbes.com) – Texas has nine of the top 20 best cities for job growth in the United States, according a new study. Texas dominated every category, led by number one-ranked Odessa.
Others on the list are Longview (3), Killeen–Temple–Fort Hood (5), Austin–Round Rock (6), McAllen-Edinburg-Mission (7), Laredo (8) and Houston–Sugar Land–Baytown (10). Next come College Station–Bryan (16) and San Antonio (20).
The study used job growth data from the Bureau of Labor Statistics for 333 U.S. regions.

 CENTEX, PULTE MERGE

AUSTIN (Austin American-Statesman) – Dallas-based Centex Corp. and Michigan’s Pulte Homes Inc. announced their merger under the Pulte name Wednesday, a partnership that creates the largest homebuilder nationally.  The merger, valued at $1.3 billion, could signal a housing market rebound for Central Texas, where the companies are the second- and third-largest builders. In 2008, Centex sold 767 homes, and Pulte sold 665, according to Metrostudy.  Pulte has 33 communities in Austin, Houston, Dallas and San Antonio, and Centex has more than 90 in Texas, said Pulte spokesperson Valerie Dolenga.  Gary Newman, president of Austin-based Waterstone Development, said Pulte has historically focused on the East and West Coasts, "and Texas was always just a secondary market."  But as the coasts have been hammered during the housing downturn, "Texas' economy and its housing industry is much healthier, and Austin is kind of the crown jewel of Texas right now, so I think we'll see them much more active in Austin."

 HOT LAND MARKET COOLING

SAN ANTONIO (San Antonio Express-News) – Texas’ land markets have been scorching hot since the mid-90s, but economists with the Real Estate Center at Texas A&M University say the national recession may be about to cool things down.
The price of rural property rose 8 percent last year, reaching a statewide median price of $2,366 an acre. But there were 27 percent fewer transactions last year — a trend expected to continue this year.
Dr. Charles Gilliland, research economist at the Center, said there's a 50 percent chance land prices statewide will stay flat in 2009, and a 50 percent chance that they will drop.
“I think the probability of the markets going up is pretty much zero,” said Gilliland, who was in San Antonio for the Real Estate Center's annual Outlook for Texas Land Markets Conference.
Dr. Mark Dotzour, chief economist at the Center, said he expects land prices to fall.
“Will it go down?” Dotzour asked. “Probably, because people expect assets to go down in value.”
But Dotzour added that the bottom is by no means falling out on Texas farm and ranch prices. He said demand for land continues simply because people don’t know where else to invest.

 BARCELONA LOFTS' FIRST PHASE COMPLETED

SAN ANTONIO (The Milmo Group) – The Milmo Group has opened phase one of Barcelona Lofts at 6201 Grissom Rd. in the city of Leon Valley, northwest San Antonio.
The apartment complex's first phase contains 136 one- and two-bedroom loft-style apartments. Leasing prices start at $850 for one-bedroom units and $1,025 dollars for two-bedroom units.
Work on the development’s second phase will begin at the end of summer. It is planned to bring 172 additional units. Loft Concepts, the general contractor, plans to finish it by summer 2010.

 GAINES SPEAKING AT TRETA CONFERENCE

SAN ANTONIO (Champions School of Real Estate) – The statewide annual Texas Real Estate Teacher’s Association (TRETA) conference is scheduled for April 17th at the historic Menger Hotel in downtown San Antonio.
Speakers will include Dr. Jim Gaines, research economist with the Real Estate Center at Texas A&M University; John Stovall, vice president of business development for EcoBroker International; State Representative Fred Brown; Doug Foster, commissioner of the Texas Department of Savings and Mortgage Lending; and Nadia Najera of Fannie Mae.
For more information, visit TRETA’s website.

 JOBS SETTLE IN THE SUBURBS

WASHINGTON (Brookings Institution) – An eight-year study released Monday by the Brookings Institution reveals a migration of employees out of Texas metro downtowns and into the suburbs. Houston–Sugar Land–Baytown and Austin–Round Rock shared the fifth largest increase nationwide in number of jobs more than ten miles from the central business district with Salt Lake City, all three showing a 6.9 percent increase between 1998 and 2006. The energy capital and the Texas capital held 56 percent and 33.7 percent of their jobs over ten miles from their city centers, respectively. Dallas–Fort Worth–Arlington had the third highest concentration of jobs in the suburbs nationwide, with 67 percent of its employment more than ten miles from downtown, an increase of 4.5 percent. Slightly less than 30 percent of San Antonio jobs were sitting outside the ten mile radius, an increase of 6.3 percent in eight years. El Paso saw a 5.6 percent increase to 23.3 percent. All five metros exhibited rapid employment decentralization during the eight years studied.
Nationally, 45 percent of employees work more than ten miles away from the city center.

 ARMY PLANS LARGE PROJECTS

FORT SAM HOUSTON (San Antonio Business Journal) – The U.S. Army Corps of Engineers in Fort Worth has awarded a $61.2 million contract to Skanska Brandt Engineering to design and construct a Tri-Service Research Laboratory at the San Antonio military post.
The Army awarded the contract as part of the transformation of the base into a world-class center for military medical training.
The laboratory is just one component of the 420,000-sf Medical Education and Training Campus at Fort Sam Houston. With this project, the Department of Defense will consolidate military medical training in San Antonio.
The medical campus is part of a $2 billion construction plan for Fort Sam Houston, Lackland Air Force Base, Camp Bullis and Randolph Air Force Base.

 REPORT SHOWS SOFT OFFICE MARKET

AUSTIN (Austin American-Statesman) – The economy has driven Central Texas office vacancies to their highest level in over four years, but major lease deals expected soon could lighten the vacancy load.
For now, the region's slowing job growth and increased layoffs pushed the vacancy rate for all types of space to 20.3 percent from 16 percent a year ago, Oxford Commercial reported Friday. It was the highest rate since the end of 2004, when it was 23.3 percent.
Downtown Austin is the strongest office market, with 89.9 percent of Class-A space and 86.6 percent of overall space occupied.
Rents were essentially flat, averaging $26.04 per sf per year, compared with $26.43 a year ago.
Diana Holford, Austin managing director for Jones Lang LaSalle, a commercial real estate services company, said the area's latest job growth and unemployment numbers "portend continuing deterioration in the office market." Holford predicted in January that local rents overall will decline 20 percent this year and that occupancy will be flat.
On the upside, a couple of local companies are considering major expansions, and some out-of-state companies are strongly considering relocating to Austin, brokers said. Those decisions could come within a year, said Rick Whiteley and Vic Russo of Oxford Commercial.

 LUXURY HOME SALES FALL, VALUES LOOK UP

HOUSTON (Houston Chronicle) – Sales of luxury homes in the Bayou City haven't been immune to the slow housing market, but neighborhood values have seen an uptick.
Last year, 3,178 Houston-area homes sold for $500,000 or more, down about 10 percent from 2007, according to a study from Crawford Realty Advisors in conjunction with the University of Houston’s Institute for Regional Forecasting.
Sales of homes that went for $1 million or more were down 8 percent according to the data, which is based on sales in a five-county area.
The decline intensified during the first two months of 2009, with sales of at least $500,000 down more than 40 percent in January and February compared with the same months last year.
However, while sales were slumping in some of Houston’s most exclusive neighborhoods, values in those areas increased.
The median price per sf in River Oaks last year, for example, was $360.96, up 5 percent from 2007, according to the Crawford data. Tanglewood values were flat, and West University Place posted a 12 percent increase.

 RESOLUTION TO SPUR MULTIFAMILY HOUSING CONSTRUCTION

EL PASO (El Paso Inc.) – To help the area prepare for a major influx of soldiers, El Paso's city council has passed a resolution designed to spur new construction of multifamily housing.
The resolution establishes a multifamily housing incentives policy. The city will use any increase in property taxes that come as a result of new development to rebate builders an amount equal to the fees they pay the city, effectively waiving construction fees.
According to the resolution, the incentives are available for the construction of new multifamily housing development projects with a minimum of 250 housing units.
More than 10,000 new soldiers are expected on Fort Bliss by summer 2010. According to Kathy Dodson, director of economic development, only 900 rental units have been built in El Paso in the last three years.

 The 5 Best Cities for Military Families

 RECESSION HITS CLOSER TO HOME

COLLEGE STATION (Real Estate Center) – The national recession has started to choke the Texas economy.

The U.S. economy lost more than four million jobs or 3.1 percent of its labor force from February 2008 to February 2009. Over the same period, the Texas economy lost 73,000 jobs or 0.7 percent of its labor force. The state’s seasonally adjusted unemployment rate rose from 4.5 percent in February 2008 to 6.5 percent in February 2009. The U.S. seasonally adjusted unemployment rate rose from 4.8 percent to 8.1 percent during the same period.

Despite recent decreases in oil prices, the Texas oil and natural gas industry has remained a bright spot in the state’s economy and continues to create jobs. The industry added 15,600 new jobs, a 7 percent growth rate from February 2008 to February 2009, ranking first among Texas industries. But the average number of active rotary rigs has substantially decreased from 890.4 in March 2008 to 484.2 in March 2009 according to Hughes Tool Co.

Eleven Texas metro areas experienced positive employment growth rates from February 2008 to February 2009 while 12 metro areas experienced net job losses. Petroplexes Odessa and Midland ranked first and
second in job creation followed by Killeen–Temple–Fort Hood, Tyler, and College Station–Bryan.

The state’s actual unemployment rate in February 2009 was 6.6 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, College Station–Bryan and Abilene.

 JANUARY HOTEL OCCUPANCY FALLS

SAN ANTONIO (San Antonio Express-News) – January data from the San Antonio Convention & Visitors Bureau reveals that the city’s hotels performed worse in the first month of the year than the overall national average.

The Alamo City’s occupancy rates fell more than 14 percent and room revenues declined 18.2 percent from a year earlier.

However, those numbers appear worse than other destination cities’ because San Antonio added 9 percent more hotel rooms in January than a year earlier, twice the national average. Despite the grim numbers, the city was encouraged by spring break crowds last month, as they are normally a good indicator of the business San Antonio will receive during the summer, according to Scott
White, the bureau’s executive director.

January data is the most recent information available on hotel performance.

 HOUSING MARKETS SEE LOW DEPRECIATION RISK

WALNUT CREEK, Calif. (PMI Group) – Mortgage insurance firm PMI Group has estimated the future state of Texas' housing markets in its fourth quarter 2008 U.S. Market Risk Index.

The report focuses on where markets will be two years from now and calculates risk of home price depreciation.

The firm predicts that Austin–Round Rock has a risk index of 17.4, or a 17.4 percent chance of experiencing price declines in its housing market within the next two years. That is up from its 5.4 percent chance in third quarter 2008.

San Antonio has a risk index of 3.8, up from its 1 percent chance of price depreciation.

Houston–Sugar Land–Baytown has a risk index of 2.7, up from less than one in third quarter 2008.

Dallas–Fort Worth has the lowest risk index of the major Texas metros, with a 2.5 percent chance that its home prices will decline over the next two years, up from a less than 1 percent chance.

For the complete PMI U.S. Market Risk Index, see PMI’s fourth quarter statistics.

 WHAT A MOVE

SAN ANTONIO (San Antonio Express-News) – Whataburger is moving its headquarters from Corpus Christi to the Tesoro Corp. headquarters building in Alamo
City.

The 140,000-sf office building at US 281 and Jones Maltsberger Rd. will house 250 employees, 40 percent of whom will be hired locally.

Whataburger employees will take occupancy in late June, after Tesoro moves into a larger office at Ridgewood Park near US 281 and Redland Rd.

 TEXAS COUNTIES ON THE GROW

TEXAS (Austin Business Journal) – An analysis of the most recent U.S. Census report found that ten Texas counties were among the top 25 fastest-growing counties in the country between July 2007 and July 2008.

That put Texas ahead of every other state, including California, which had six counties in the top 25, and Arizona and North Carolina, which had two counties each.

The analysis was conducted by the Capital Area Council of Governments.

Texas counties that made the top 25 were Harris (No. 2), Tarrant (5), Bexar (10), Collin (12), Dallas (13), Travis (14), Fort Bend (18), Denton (21), Williamson (23) and Hidalgo (24).

 FEBRUARY EXISTING HOME SALES, PRICES DECLINE

TEXAS (Real Estate Center, Reuters, CNN Money) – A total of 13,312 existing homes were sold in Texas last month, a 25.4 percent decline from February 2008, according to MLS data compiled by the Real Estate Center at Texas A&M University. The median price dropped 2.9 percent to $138,300 during the
same period, and the state finished the month with a 6.7-month inventory of existing homes.

Here is how select Texas cities fared in February (data current as of March 31, 2009):
                                  
                                               
                                              Median Price     Change      Months'
                                                                                               Inventory
Beaumont                            $132,800       up 10.1%       7.4    
Bryan–College Station      $139,500       up 7.6%          5.9    
Corpus Christi                    $133,800       down 2.1%     9.3    
Dallas                                   $145,900       down 1%        6.3    
El Paso                                 $130,900       down 2.2%     11.4    
Fort Worth                             $107,000        down 7.5%     6.2    
Houston                                $138,100        down 8.5%     6.1    
Laredo                                  $121,400        down 8%         9.1    
Longview-Marshall             $118,800        up 3.7%          7.2    
Lubbock                                $112,600        up 11.2%        5.7    
San Antonio                          $143,300        up 0.2%           8.2    
Texarkana                             $107,100        up 13.7%         7.6    
Tyler                                       $136,000         up 4.1%          10.6    
Waco                                     $101,100        down 8.1%     7.7    

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

Nationally, sales of existing single-family homes last month were down 4.6 percent compared with February 2008, according to the National Association of Realtors. Sales were at a 4.72 million annual rate. At $165,400, the median sales price was down 15.5 percent from a year earlier. Inventory was at 9.7 months.

Meanwhile, the U.S. Census Bureau reported that new home sales rose 4.7 percent to a seasonally adjusted annual rate of 337,000 in February from a revised 322,000 in January. While February purchases were up from January's record low, the sales rate was still down more than 41 percent from February 2008, when sales were an estimated 572,000. The report also showed that the median sales price of new houses sold in February was $200,900, down 18 percent from $245,300 a year ago.

 FORECLOSURES RISE DESPITE MODIFICATIONS

NEW YORK (CNNMoney.com) – Despite the rising number of loan modifications and other aid, the tide of homeowners pushed into foreclosure is still rising.
In February, nearly 250,000 homeowners received either mortgage modifications or repayment plans from their lenders, according to Hope Now, the coalition of lenders, investors and community advocacy groups put together to combat the foreclosure crisis. About 134,000 of those were mortgage modifications.

Despite these efforts, the number of foreclosures started in February stood at 243,000, up from 217,000 in January.

About 87,000 homes were repossessed by banks during February, a 28 percent jump from the 68,000 foreclosures completed in January.

Since the mortgage meltdown began in July 2007, nearly 1.4 million homes have entered foreclosure

 TEXAS HOUSING VALUES RISE

DALLAS (Dallas Morning News) – Only four U.S. housing markets experienced an increase in value during January, and three of those were in Texas, according to a survey released Monday.

First American CoreLogic reports that Austin–Round Rock saw a 3.9 percent increase in housing market value.

Houston–Sugar Land–Baytown reported a 3.6 percent increase and Dallas-Plano-Irving home values jumped 1.5 percent.
Throughout Texas, home prices were up by just under 2 percent.

By comparison, home prices nationwide fell 11.6 percent in January compared to a year ago.

WWW.COLONIALREALESTATE.COM

 CONSTRUCTION FALLS IN FEBRUARY

TEXAS (Austin Business Journal, Dallas Business Journal) – Construction and future development contracts fell across Texas in February, according to McGraw Hill Construction.

In Dallas, commercial contracts were down 48 percent from $471.2 million in February 2008 to $246.6 million last month. Residential contracts fell 42 percent from $486.8 million to $280 million.

Year-to-date, Dallas area commercial construction is down 31 percent, and residential construction is down 41 percent over the same period in 2007.

Contracts for future commercial construction in the Austin area fell 49 percent in February, compared with the same month last year, while residential construction contracts fell 56 percent to $93.7 million. Year-to-date, residential contracts are down 61 percent and commercial construction has decreased by the same amount.

In Texas, contracts for future commercial construction fell 40 percent to $1.2 billion for the month, compared with $1.9 billion a year ago. Year-to-date, commercial contracts were down 78 percent.

Statewide residential contracts dropped 43 percent in February and 46 percent for the first two months of the year.

 VIDORRA READY FOR RESIDENTS

SAN ANTONIO (San Antonio Express-News) – Co-developers Jeff Rochelle and Drake Leddy have completed their $60 million Vidorra condos project near Sunset Station.

About 60 percent of the 146 condos and six townhomes have already been sold.

Units range between 1,000 and 3,866 sf in about 15 floor plans and begin at $255,900.

Once 80 percent of the condos are sold, developers will begin building a second 20-story tower on the site.

www.vidorraliving.com

 U.S. NEW HOME CONSTRUCTION SURGES

WASHINGTON (Associated Press) – Construction of new homes and apartments in February was 22.2 percent higher than in January, according to a report issued today by the Commerce Department. Total activity was at a seasonally adjusted annual rate of 583,000 units.

Despite the increase, construction activity was 47.3 percent below where it was a year ago. Last month’s surge was led by a big increase in apartment construction, which can be highly volatile from month to month.

Increases were reported in all areas of the country except the West, which has been hardest hit by the current housing slump.

 'COMEBACK KID' FEELING ECONOMIC PINCH

HOUSTON (USA TODAY) – The city once dubbed “The Comeback Kid” for its booming housing market may be getting a taste of the economic downturn that has been sweeping the rest of the nation.

After climbing more than $15,000 last year, median home sales prices in the area dropped by more than $25,000 between September and January.

Dr. Jim Gaines, research economist with the Real Estate Center, attributes the decline to the increase in foreclosure sales in the area. Also, about 1,000 fewer homes were sold in January compared with January 2008.

Hurricane Ike did nothing to help. When the storm blew across Texas last September, it devastated Galveston and other areas, causing delays in home building and pushing many homeowners to rent.

Still, Gaines said that although the Houston economy is “getting nervous,” the city’s housing market is strong compared with other metropolitan areas, and it has not "experienced the kind of downturn that is getting notoriety."

www.colonialrealestate.com

 RECESSION IN TEXAS?

AUSTIN (Austin American-Statesman) – The recession has finally slammed into Texas after keeping away during most of 2008, says a new report from the Federal Reserve Bank of Dallas, and Austin and Dallas could feel the brunt of it.

Austin and Dallas were cited as being especially vulnerable because they have more exposure than other large Texas cities to cyclical industries, such as construction and financial services.

Statewide, employers could cut 296,000 jobs this year, sending the unemployment rate to roughly 8 percent, according to Fed economists Keith Phillips and Jesus Cañas, who co-authored the article in the Fed's quarterly publication on the region's economy.

In January, almost 120,000 Texans applied for unemployment benefits, 85 percent more than in January 2008.
In the past week, 11 companies — including Applied Materials Inc., Stanford Financial Group and Sportsman’s Warehouse (see related story) — notified the Texas Workforce Commission that they plan to cut a total of 1,200 jobs in the next few months.

In addition, state sales tax collections for the first half of the fiscal year were down 2.8 percent from a year earlier, and Comptroller Susan Combs said last week that further drops are likely.

But the prognosis isn’t entirely bleak.

"While the short-term Texas outlook is weak, longer term prospects remain healthy," the report said. "Job growth, low business and living costs and a young, fast-growing labor force remain positives that will help in recovery."

 LONG-AWAITED HOSPITAL COMING

FORT HOOD (Killeen Daily Herald) – The federal stimulus plan is providing the funds for a new hospital on the military base, one that has been anticipated for over 20 years.  Groundbreaking is slated for September 2010 and construction will proceed in two phases through 2016. The nearly $1 billion hospital will be located at the present site of Hood Stadium, with funds available to relocate the sporting complex. The new hospital will allow for much-needed improvements to the availability of behavioral health care at Fort Hood, according to Col. Casper P. Jones III, Carl R. Darnall Army Medical Center commander.  Replacing the old facilities, some of which date back to the 1960s, will mean fewer trips to Brooke Army Medical Center for soldiers, shorter waiting times for all patients and services for transitioning soldiers.

 2009 Tax Credit for First Time Home Buyers

As part of the "Housing and Economic Recovery Act of 2008", Congress has increased the credit to $8,000 for 2009 and made several improvements.This revised 2009 tax credit applies to all first-time homebuyers who purchase a single-family home between January 1, 2009 through December 1, 2009.

For more information, download the National Association of Realtors® Frequently Asked Questions (PDF).

If you have questions about qualifying for the 2009 Tax Credit for First Time Home Buyers, please contact us. Our trained sales associates can answer any of your questions and help you make the most of this tax credit.

 HIGH FORECLOSURE RATE FOR HIGH-END HOMES

SAN ANTONIO (San Antonio Express-News) – Residential foreclosures have stepped out of the $200,000-and-under price range and are affecting the high end homes in Bexar County.

Addison-based Foreclosure Listing Service Inc. reports that the highest increases in postings this year have occurred above the most popular price range of below $200,000.

Foreclosure postings on homes priced under $200,000 rose 22 percent in the first quarter compared with the same period last year.
Postings rose 65 percent for homes priced in the $200,000s, 71 percent for those priced between $300,000 and $499,999, and 40 percent for homes priced over $1 million.

Homes valued higher than $200,000 make up 12 percent of the foreclosure market now. In 2005, those homes made up just 3 percent of the market, according to Foreclosure Listing Service.

Dr. Jim Gaines, research economist with the Real Estate Center at Texas A&M University, said that previously easy access to mortgages and the widespread availability of 100 percent financing have caught up with the owners of high-priced homes across the state.

Additionally, the San Antonio Board of Realtors reports that homes priced under $200,000 were selling in an average of just 91 days in January, while homes priced between $200,000 and $499,000 were selling in 164 days. Those between $500,000 and $699,999 were selling in 253 days, and homes over $1 million were taking an average of 618 days to sell.

 TEXAS FORECLOSURES DOWN

TEXAS (The Eagle, Beaumont Enterprise, Associated Press) – Texas' foreclosure filings last month dropped 14.1 percent from a year earlier but increased 7.9 percent from January, according to the latest report from RealtyTrac, a foreclosure-listing firm.

Those numbers compared favorably to the nation's. RealtyTrack reported that, nationally, nearly 291,000 homes received at least one foreclosure-related notice last month. That is up 30 percent from February 2008 and 6 percent from January.

The news varied throughout the state. For example, Brazos County experienced a slight uptick in foreclosures.

RealtyTrac listed a total of 58 bank-owned properties in the county since late 2006. Of those, 17 were entered over the months of January and February, compared with two properties entered from the same period of 2008.

Meanwhile, farther east, the Jefferson County clerk’s office records show that banks filed 67 notices in January, 97 notices in February and 28 so far in March. That compares with 141, 91 and 66 notices in those respective months last year.

Dr. Jim Gaines, research economist at the Real Estate Center at Texas A&M University, said he believes more people in the area will face foreclosure in the coming months. In Beaumont, some areas may see higher rates than others, and those areas may be subdivisions where creative financing was used to get people into homes that they maybe could not afford.

 NEW FLOOD INFORMATION SITE LAUNCHED

WASHINGTON (Federal Emergency Management Agency) – Floods are the most common, costly and deadly natural disaster Americans face each year, according to the Federal Emergency Management Agency (FEMA). In fact, the agency said 90 percent of all natural disasters in the nation involve flooding.

For Flood Safety Awareness Week, which runs from March 16th through the 20th, FEMA and the National Flood Insurance Program (NFIP) have partnered with the National Oceanic and Atmospheric Administration (NOAA) and National Weather Service (NWS) to demonstrate flood risks across the country and provide information about steps people can take to protect themselves.

NOAA and NFIP have developed an online interactive map with historical information about how floods have impacted millions of Americans in recent years. The site also provides tools and resources for understanding flood risk and knowing what to do before, during and after a flood.

To learn more about Flood Safety Awareness Week and to use these resources, visit www.floodsmart.gov.

 TWO TEXAS CITIES TOPS FOR CORPORATE GROWTH

HOUSTON (Houston Business Journal) – Houston landed the top spot on Site Selection magazine’s list of top metro rankings for corporate location and expansion activity. Dallas–Fort Worth–Arlington was right behind at number two.

According to the magazine, Houston owes its success to its domination in the energy sector and its ability to land huge technology deals. The city scored 179 corporate real estate deals in 2008, according to Site Selection.

Dallas–Fort Worth–Arlington finished 2008 with 156 projects. Coming in third was Chicago with 138.

 TEXAS HOME PRICES UP, REPORTS FHFA

WASHINGTON (FHFA, Real Estate Center) – Latest home appreciation rates released this week by the Federal Housing Finance Agency (FHFA) indicate Texas home prices increased 2.1 percent last year.

Midland led the way with a 10.4 percent increase between fourth quarter 2007 and fourth quarter 2008. At the other end of the spectrum were Odessa and Brownsville, where prices fell 2.7 percent and 2.6 percent, respectively.

In the final quarter of 2008, Texas home prices increased 0.2 percent.

"The data indicate what we have believed all along," said Real Estate Center Research Economist Dr. Jim Gaines. "Texas fared well in 2008, especially compared with the rest of the country."

According to FHFA, here's how home prices in select Texas cities did last year:

Abilene                                              up 2.7%
Amarillo                                             up 0.1%
Austin–Round Rock                        up 4.4%
Beaumont–Port Arthur                    up 3.1%
Brownsville-Harlingen                    down 2.6%
College Station–Bryan                    up 5.5%
Corpus Christi                                  up 1.8%
Dallas-Plano-Irving                          up 1.9%
El Paso                                               down 0.4%
Fort Worth–Arlington                        up 1.2%
Houston–Sugar Land–Baytown    up 3.7%
Killeen–Temple–Fort Hood            up 2.5%
Laredo                                                up 4.7%
Longview                                            up 1.9%
Lubbock                                              up 4.5%
McAllen-Edinburg-Mission              up 0.1%
Midland                                                up 10.4%
Odessa                                                down 2.7%
San Angelo                                          up 4.1%
San Antonio                                         down 1.6%
Sherman-Denison                             up 2%
Texarkana                                            up 1.1%
Tyler                                                      up 1%
Victoria                                                 up 6.2%
Waco                                                    down 1.7%
Wichita Falls                                       down 2%

Nationally, prices dropped 4.5 percent last year for the overall index (which includes financings and refinancing) and 8.2 percent based on purchases-only data.

The FHFA's complete report is available online.

 TEXAS HOUSING MARKETS AMONG MOST AFFORDABLE

WASHINGTON (National Association of Home Builders) – Five Texas markets were among the ten most affordable housing markets in the south during fourth quarter 2008, according to housing opportunity index (HOI) data compiled by the National Association of Home Builders and Wells Fargo Housing.
In Sherman-Denison, 87 percent of new and existing homes sold during the final quarter of 2008 were affordable to middle-income earners, ranking the city third in the region.
Wichita Falls ranked fifth at 82.6 percent, San Angelo seventh at 79.8 percent, Fort Worth–Arlington eighth at 79 percent and Beaumont–Port Arthur ninth at 77.5 percent.
Nationally, 62.4 percent of all new and existing homes were affordable to families earning the national median income of $61,500, up from the previous quarter's 56.1 percent and the 46.6 percent from the end of 2007.

 FANNIE, FREDDIE, HUD FUND THIRD OF LOAN PROGRAM

NEW YORK (CNNMoney.com) – The federal government is allocating $50 billion to fund its $75 billion foreclosure prevention program, giving Fannie Mae, Freddie Mac and the Department of Housing and Urban Development (HUD) responsibility for the other $25 billion.

Fannie Mae and Freddie Mac will contribute over $20 billion to the loan modification program, which will be used mainly to subsidize interest rates so troubled borrowers’ monthly payments can be lowered to affordable levels.

HUD will contribute the remaining money, which will be used for credit counseling programs for those deeply in debt.

 TEXAS HOME PRICES UP, REPORTS FHFA

WASHINGTON (FHFA, Real Estate Center) – Latest home appreciation rates released this week by the Federal Housing Finance Agency (FHFA) indicate Texas home prices increased 2.1 percent last year.

Midland led the way with a 10.4 percent increase between fourth quarter 2007 and fourth quarter 2008. At the other end of the spectrum were Odessa and Brownsville, where prices fell 2.7 percent and 2.6 percent, respectively.

In the final quarter of 2008, Texas home prices increased 0.2 percent.

"The data indicate what we have believed all along," said Real Estate Center Research Economist Dr. Jim Gaines. "Texas fared well in 2008, especially compared with the rest of the country."

According to FHFA, here's how home prices in select Texas cities did last year:

Abilene	up 2.7%
Amarillo	up 0.1%
Austin–Round Rock	up 4.4%
Beaumont–Port Arthur	up 3.1%
Brownsville-Harlingen	down 2.6%
College Station–Bryan	up 5.5%
Corpus Christi	up 1.8%
Dallas-Plano-Irving	up 1.9%
El Paso	down 0.4%
Fort Worth–Arlington	up 1.2%
Houston–Sugar Land–Baytown	up 3.7%
Killeen–Temple–Fort Hood	up 2.5%
Laredo	up 4.7%
Longview	up 1.9%
Lubbock	up 4.5%
McAllen-Edinburg-Mission	up 0.1%
Midland	up 10.4%
Odessa	down 2.7%
San Angelo	up 4.1%
San Antonio	down 1.6%
Sherman-Denison	up 2%
Texarkana	up 1.1%
Tyler	up 1%
Victoria	up 6.2%
Waco	down 1.7%
Wichita Falls	down 2%

Nationally, prices dropped 4.5 percent last year for the overall index (which includes financings and refinancing) and 8.2 percent based on purchases-only data.

The FHFA's complete report is available online.

 BURGER CHAIN GOING FROM THREE TO 30

SAN ANTONIO (San Antonio Express-News) – Carl’s Jr. plans to bring 30 more of its restaurants to the Alamo City, which currently has only three.

This will be part of an eight- to nine-year statewide expansion for the hamburger chain, which plans to establish 200 sites in Texas during that time.

Each Carl’s Jr. store in San Antonio will cost about $1.3 million excluding land costs, contain between 2,500 and 3,500 sf, and employ 50 people.

The chain’s sales average $1.53 million per property.

 PLANT PROPOSES TWO NEW REACTORS

SAN ANTONIO (San Antonio Express-News) – CPS Energy’s South Texas Project has signed an engineering, procurement and construction agreement to add two advanced boiling-water reactors to the nuclear plant southwest of Houston.

The agreement with Toshiba America Nuclear Energy Corp. doesn’t necessarily mean that the reactors will be built, but it does significantly add to the project’s value, according to Steve Bartley, CPS Energy deputy general manager.

It increases the project’s chances for federal loan guarantees from the Energy Department “and enhances our ability to get an operating license,” Bartley said.

CPS Energy plans to present a refined cost estimate and proposed schedule for the plant’s expansion by late May. The city-owned utility will then present details to the community and will likely go before the city council in October.

The plant currently consists of two reactors, which provide 35 percent of the city’s electrical power.

 HIGHEST HOME APPRECIATION IN TEXAS

SANTA ANA, CALIF. (First American CoreLogic) – Texas continues its trend of weathering the recession better than most other states. The state’s major metros top the nation in home price appreciation over the last year.

Austin–Round Rock leads the country’s largest core-based statistical areas (CBSA) in home price appreciation with a 3.7 percent increase in 2008, according to First American CoreLogic.

Houston–Sugar Land–Baytown experienced a price appreciation of 3.3 percent over the last year, putting it right behind Austin–Round Rock.
Dallas-Plano-Irving homes appreciated 1.92 percent and San Antonio’s homes 0.17 percent, putting them third and fourth in the nation.

Only one other major CBSA, Denver-Aurora, Colo., showed an increase in home price, according to CoreLogic.

Of the 958 smaller communities the study observed, College Station–Bryan experienced the sixth highest home price appreciation, with an increase of 6.78 percent.

Overall, Texas homes saw an appreciation of 1.83 percent in 2008, putting the Lone Star State sixth among all state rankings.

 FIVE TEXAS CITIES NAMED HEALTHIEST HOUSING MARKETS

TEXAS (Builder) – Five Texas cities swept the top spots on Builder magazine’s list of “Healthiest Housing Markets for 2009.”

Houston ranked first, Austin second, Fort Worth third, San Antonio fourth and Dallas fifth.

Rounding out the top ten were Raleigh, N.C., Seattle, Indianapolis, Ind., Fayetteville, Ark., and Washington D.C.

To compile the list, Builder analyzed the top 75 housing markets in the country, ranking them based on population trends and job growth, perennial drivers of housing demand. They also looked at home prices and the number of building permits.

 TAX CREDITS HAVE APPEAL

WASHINGTON (Realtor.org) – A $15,000 homebuyer tax credit could be enough to encourage more people to purchase homes, according to a nationwide poll conducted by the National Association of Home Builders (NAHB).

The poll shows that a third of all 1,200 respondents and 61 percent of renters would be more likely to purchase a home if the tax incentive becomes law. The tax credit was included in the stimulus package passed by the Senate this week.

"This is extremely significant because normally in any one year only about 5 to 7 percent of households purchase a home," said NAHB Chief Economist David Crowe.

www.colonialrealestate.com

 TEXAS NATION'S TOP EXPORTER

AUSTIN (Dallas Business Journal) – Mere days after being named tops in job growth by bizjournals.com, Texas has been declared the nation’s top exporter by the U.S. Department of Commerce.
According to Governor Rick Perry’s office, Texas exports totaled $192.14 billion last year, about $23.92 billion more than the year before.
The top five recipients of those exports were Mexico, Canada, China, the Netherlands and Brazil.
This marks the seventh year in a row in which Texas has ranked first.

www.colonialrealestate.com

 ERA firm sponsors blood drive

HARKER HEIGHTS – ERA Colonial Real Estate sponsored a Scott & White blood drive on Thursday outside its office as a way to give a little more back to the community.

"We were just looking to give back to the community and what better way to give than donating blood," said Lisa Truitt, the ERA Colonial Real Estate agent who set up the event.

From 10 a.m. to 2 p.m., a Scott & White mobile blood unit sat outside the ERA office attracting dozens of donors.

Scott & White hopes to conduct more blood drives at places like Colonial, said Regina Phinney, Scott & White manager of donor recruitment.

Scott & White purchased a new mobile blood unit in December. Small businesses typically don't have the capability to send their employees to a blood drive, but with the new unit, Scott & White can come to them, Phinney said.

The ERA blood drive brought in more than just its own employees. Robert Devou, of Killeen, saw the mobile blood unit, and decided to stop and donate.

"I donate blood regularly," Devou said. "They like my blood because it is type A negative."

While this was the first blood drive sponsored by ERA Colonial Real Estate, the business is hoping to do more.

Colonial Real Estate – with the help of Chick-fil-A, Jason's Deli and the Cookie Addiction – provided lunch for the donors. T-shirts and a chance to win a Wii Fit were given away.

But for Truitt it wasn't about the lunch or anything given away.

"Giving blood just gives you a good feeling about yourself," Truitt said. "It is a good feeling to know you contributed to it."

Posted On: Friday, Feb. 13 2009 12:25 AM

 

By Mason W. Canales
Killeen Daily Herald

 TEXAS TOPS IN JOB GROWTH

TEXAS (St. Paul Business Journal) – Texas was top in job growth last year, according to a recent analysis by bizjournals.com.
Five Texas cities ranked among the top ten, with three securing the top three spots.

Houston added 57,300 jobs in 2008, giving it the best year of any U.S. market. Dallas–Fort Worth was next with 43,300 additional jobs, then San Antonio, which was up by 14,900 jobs.

Austin ranked fifth with 9,600 jobs added, and El Paso’s 5,300 additional jobs landed the city at ninth.

Bizjournals.com examines markets that have at least 250,000 nonfarm jobs and compares employment figures for the final month of the past two years. Seventy-two of the 88 markets studied suffered declines in employment in 2008.

www.colonialrealestate.com

 Texas Housing, Commercial, and Land Markets

Elaine Lovell talks about what the year holds for Texas housing, commercial and land markets, and what sent nearly 100 Texas Realtors south of the border last fall.

 WHAT THE FUTURE HOLDS

COLLEGE STATION (Real Estate Center) – The economy, construction, employment, population and, most of all, housing. Where are they headed in 2009?

In "2009 and Beyond," a new 51-minute video now available on the Real Estate Center's website, Center Research Economist Dr. Jim Gaines offers his perspective on what's ahead.

 ERA Colonial Real Estate, Georgetown Agents Find Success with 100 Days to Greatness®

Comprehensive training program by Buffini & Company helps Agents kick-start results


Georgetown, Texas 78633 –Agents with ERA Colonial Real Estate will begin the spring class of 100 Days to Greatness® – a comprehensive business development and personal growth program offered by Buffini & Company, the largest and most successful real estate coaching company in North America.
 
Facilitated at ERA Colonial Real Estate office in Georgetown, Texas by Buffini & Company Certified Mentor Stephanie Nash. 100 Days to Greatness teaches the fundamentals of working by referral and shows real estate professionals how to provide excellent customer service before, during, and after every transaction. Graduates of the course report experiencing a steady stream of leads, an increased number of transactions, and higher-quality client relationships.  

The 100 Days to Greatness program is a 14-week, step-by-step training course that combines training from industry expert Brian Buffini, video role-playing exercises and live accountability sessions – creating a comprehensive, practical learning experience. Students learn how to build and maximize relationships in order to cultivate advocates for life and accelerate their business. The course is applicable to both new and seasoned agents.
 
For additional information, please contact Karen Stearns at ERA Colonial Real Estate by calling (512)868-0403 or via email at Karen.Stearns@ERA.com

 ERA Colonial Real Estate Agents Find Success with 100 Days to Greatness®

Comprehensive training program by Buffini & Company helps Agents kick-start results


Harker Heights, Texas 76548 –Agents with ERA Colonial Real Estate will begin the spring class of 100 Days to Greatness® – a comprehensive business development and personal growth program offered by Buffini & Company, the largest and most successful real estate coaching company in North America.
 
Facilitated at Monteith Title and Abstract in Killeen, Texas by Buffini & Company Certified Mentor Stephanie Nash. 100 Days to Greatness teaches the fundamentals of working by referral and shows real estate professionals how to provide excellent customer service before, during, and after every transaction. Graduates of the course report experiencing a steady stream of leads, an increased number of transactions, and higher-quality client relationships.  

The 100 Days to Greatness program is a 14-week, step-by-step training course that combines training from industry expert Brian Buffini, video role-playing exercises and live accountability sessions – creating a comprehensive, practical learning experience. Students learn how to build and maximize relationships in order to cultivate advocates for life and accelerate their business. The course is applicable to both new and seasoned agents.
 
For additional information, please contact Dennis DeWine at ERA Colonial Real Estate by calling (254) 698-4300 or via email at Dennis.DeWine@ERA.com

 

 

WHAT THE FUTURE HOLDS
COLLEGE STATION (Real Estate Center) – The economy, construction, employment, population and, most of all, housing. Where are they headed in 2009?
In "2009 and Beyond," a new 51-minute video now available on the Real Estate Center's website, Center Research Economist Dr. Jim Gaines offers his perspective on what's ahead.
http://recenter.tamu.edu/video/videoPlayer.asp?vid=60

www.colonialrealestate.com

 U.S. PENDING HOME SALES UP

WASHINGTON (MarketWatch) – The number of new sales contracts on existing homes jumped a seasonally adjusted 6.3 percent in December as buyers took advantage of lower mortgage rates and falling prices, the National Association of Realtors reported today.

The pending home sales index rose 6.3 percent in December and is now up 2.1 percent compared with a year earlier.
The index is based on signed sales contracts, which usually occur a month or two before the sale is closed.

 TEXAS ECONOMY STILL AHEAD OF NATION'S

COLLEGE STATION (Real Estate Center) – The Texas economy is cooling but continues to create jobs. While the U.S. economy lost more than 2.8 million jobs from December 2007 to December 2008, Texas gained 154,600 jobs over the same period.

The state’s seasonally adjusted unemployment rate rose from 4.2 percent in December 2007 to 6 percent in December 2008. By comparison, the U.S. seasonally adjusted unemployment rate rose from 4.9 percent to 7.2 percent during the same period.

Recent decreases in oil prices have begun to adversely affect the Texas oil and natural gas industry’s ability to generate jobs. The industry’s employment increased 3.7 percent from December 2007 to December 2008, a drop from 7.1 percent for the period November 2007 to November 2008. Even so, the industry ranked first among Texas industries in employment growth rate.

The professional and business services industry and the leisure and hospitality industry posted annual employment growth rates of 3.3 percent from December 2007 to December 2008 and ranked second among Texas industries in job creation.

All Texas metros experienced positive employment growth rates from December 2007 to December 2008. McAllen-Edinburg-Mission ranked first in job creation followed by College Station–Bryan, Houston–Sugar Land–Baytown, and Killeen–Temple–Fort Hood.

The state’s actual unemployment rate in December 2008 was 5.7 percent. Midland had the first lowest unemployment rate followed by Amarillo, Lubbock, Odessa and College Station–Bryan.

The complete Texas economic report is available on the Real Estate Center's website.

 LOCAL REALTOR ACHIEVES NATIONAL ASSOCATION OF REALTORS - GREEN DESIGNATION

LOCAL REALTOR® ACHIEVES NATIONAL ASSOCATION OF REALTORS® - GREEN DESIGNATION

Clayton Zavisch of ERA Colonial Real Estate

 

San Antonio, Texas (Grassroots Newswire) January 29, 2009 -- Clayton Zavisch with ERA Colonial Real Estate has been awarded the National Association of REALTORS®' (NAR's) Green Designation, the only green real estate professional designation recognized by NAR.
Clayton, the first designee in San Antonio, achieved this prestigious designation after completing 18 hours of course work designed specifically for REALTORS®. The courses were created in collaboration with a multidisciplinary team of industry experts from across the country; ensuring designees gain comprehensive knowledge of green homes and buildings and issues of sustainability in relation to real estate.
"My collegiate degree, with an emphasis in environmental science, led me to seek out this new designation. I have realized in order to reduce our global environmental impact, it will take each of us, one step, one light bulb, and one renewable resource at a time to make a difference, and it all starts at home," said Clayton Zavisch. More specifically, this additional training allows Clayton to help clients evaluate the cost/benefits of green building features and practices, distinguish between industry rating and classification systems, list and market green homes and buildings, discuss the financial grants and incentives available to homeowners, and help consumers see a property's green potential.
"As energy costs rise, along with the concern for the environment, homeowners are looking for innovative ways to save money and live responsibly," said Dick Gaylord, NAR's immediate past president. NAR's Green Designation was developed in response to growing consumer awareness of the benefits of resource-efficient homes and buildings. The designation helps consumers, who care about energy efficiency and sustainable building practices, identify REALTORS® who can help them realize th eir green real estate and lifestyle goals.
As a NAR Green Design ee, Clayton has gained the knowledge and the tools necessary to become a trusted green resource for San Antonio. For more information about Clayton Zavisch, please visit www.ClaytonSells.com or e-mail Clayton.Zavisch@ERA.com.

About ERA

About ERA Colonial Real Estate, Inc.
The top ERA Franchisee in Texas and a National Top 10 Company, ERA Colonial Real Estate is celebrating its TWENTY FIRST year in the Central Texas real estate market. ERA Colonial Real Estate serves Central and South Texas as well as the Texas Hill Country from its Sales Centers in San Antonio, Georgetown, Austin Lakeway and Harker Heights. Since joining the ERA system in 1997, the company has grown from $42,000,000 in sales volume with one office to its current production of over $270,000,000. ERA COLONIAL REAL ESTATE was named as ERA Franchise Systems, Top Overall Real Estate Company in 2004, was a top five finalist for the award in 2007 and has won National Acclaim for Real Estate Sales Training Innovations via its Career Institute. ERA Colonial Real Estate offers its services with 70 highly trained, professional sales associates in the vibrant Heart of Central and South Texas. The company's top s ales associate, Eva Keagle (Harker Heights) has won the ERA Franchise Systems National Service award an unprecedented two consecutive years and was the Franchise's Top Overall (National) Sales Associate for 2006 and 2007

 

 PROPERTY TAX DEADLINE APPROACHES

TEXAS (Tyler Morning Telegraph) – Property owners statewide have until Jan. 31 to pay property taxes.
Penalties for not paying on time will begin at 7 percent on Feb. 1 and increase 2 percent per month until reaching 18 percent on July 1.
Harris and Galveston County residents whose homes were damaged by Hurricane Ike may qualify for a property tax payment plan authorized under the Texas Property Tax Code. For more information, see “Property Tax Payment Plan to Help Ike Victims.”

 

THE FUTURE OF GREEN
LAS VEGAS (Real Estate Center) – While “green” may have become little more than a buzzword to some skeptical consumers, some building industry insiders say the vast majority of consumers have embraced the long-term benefits and understand that going green is “the right thing to do.”
At the International Builders Show today, representatives for several home appliance manufacturers were on hand to talk about the future of green as well as their efforts to create products that are more energy efficient.
So what does the future hold?
For Marvin Windows and Doors, it’s all about daylight. Company spokesman Brett Boyum said they are working on products that bring more sun — and the sun’s natural health benefits — into the home.
Energy efficiency gets all the press and attention within political circles, but what about finding more efficient ways to use the world’s water supply?
“In the very near future, water will be a bigger issue than energy is today,” said Omer “Butch” Gaudette.
Guadette, director of trade relations for Whirlpool Corporation, said 97 percent of the world’s water supply is salienated. Two percent of the remaining drinkable water is tied up in polar ice caps, leaving 1 percent for immediate consumption.
To help ensure that 1 percent is used as efficiently as possible, companies such as Whirlpool and Kohler are stepping up their efforts to create more efficient appliances. Among those efforts are waterless urinals and dual-flush toilets.
Does it cost more to be green? Gaudette says no. While some added cost goes into developing energy efficient products, he said consumers will see value in the long run.

 

SO LONG, MCMANSIONS, SAY DOWNSIZING HOMEBUYERS
LAS VEGAS (Better Homes and Gardens, Real Estate Center) – Economic realities have an increasing number of American consumers rethinking supersized homes, said Gayle Butler, editor-in-chief of Better Homes and Gardens, at the International Builders Show today.
A recent survey conducted on the magazine’s website found that what homeowners want in 2009 are homes that are right-sized, organized and economized.
“We are ready to give up the McMansions, the trophy homes, and the redundant rooms that have no use,” Butler said. “Instead, consumers are telling us that they want a home that’s the right size and arrangement for how they live now.”
When asked how their next home will compare in size to where they live now, 32 percent of the survey respondents said they expect a new home to be either somewhat smaller or much smaller. And that home will be family-focused. Fifty-six percent of respondents said they prefer a combined kitchen-dining-family room, what Butler referred to as the “lifestyle triangle.”
Despite the trend toward downsizing, additional private bathrooms held strong at 66 percent, as did home offices (59 percent).
Consumers also want to cut down on luxuries and go green.
About 20 percent of respondents consider kitchen and bath finishes, upgraded landscaping, and finishes such as granite countertops and luxurious master suites as less important.
Ninety percent plan to have energy efficient heating and cooling systems in their next homes, and 31 percent plan to have geothermal heat.
Finally, 69 percent of respondents would prefer having no wasted space. They also want more storage, indicating that being organized is fast becoming an important issue to homeowners.
www.colonialrealestate.com

 Texas Home Prices At Least Risk

WALNUT CREEK, CA (PMI Group) – Amidst a nation of MSAs hosting tumbling home prices, the Lone Star State’s own metropolitan areas have held tight to their home values, with only five of 26 MSAs seeing price declines in a 12-month period ending in September.
According to PMI Group’s Winter 2009 Risk Index, Dallas, Houston and San Antonio were the least likely large MSAs in the country during third quarter 2008 to experience lower home prices in the next two years. Each had a risk index of less than one.
Austin ranked as the 12th least likely metropolitan area to experience home price depreciation, with a 3.1 risk index, up from 2.3 in second quarter 2008.
Overall, Texas MSAs averaged a 2.8 percent increase in home prices between September 2007 and the same month in 2008.
Four of Texas’ MSAs claimed spots in PMI Group’s list of top ten annual house price appreciation rates. Sherman-Denison had an appreciation rate of 8.56; Victoria, 8.34; Odessa, 7.98; and College Station–Bryan, 6.71.
PMI’s U.S. Market Risk Index uses economic, housing and mortgage market factors (including home price appreciation, employment, affordability, excess housing supply, interest rates and foreclosure activity) to determine the probability of lower home prices in the future.

For the full study, including more rankings for Texas MSAs, see PMI Group’s Risk Index.

 ECONOMIST PREDICTS STRONG TEXAS HOUSING MARKET IN 2009

BEAUMONT (Beaumont Enterprise) – Despite the negative news surrounding the real estate industry, now continues to be a great time to buy a home in Texas, said Dr. Mark Dotzour yesterday, speaking before the Beaumont Board of Realtors.

Dotzour, the chief economist for the Real Estate Center at Texas A&M University, said the states’s housing market should thrive in 2009 thanks to affordable housing and steady job growth.

However, he also told the group to expect a decline in new home construction this year, partly because more new homes could inflate the market, causing existing home values to decline.

Although the latest report from California-based foreclosure listing firm RealtyTrac showed an 81 percent increase in the number of homeowners facing foreclosure last year, Dotzour said he does not expect foreclosures to become an issue in Texas.

“Our home prices have been going up," he said, "and when your house is going up, you'd rather sell it then give it back to the bank."

 ECONOMY STILL BETTER IN TEXAS

COLLEGE STATION (Real Estate Center) – More than two million jobs were lost from November 2007 to November 2008, representing 1.5 percent of its labor force. The Texas economy fared much better during the period, gaining 222,900 jobs and increasing its labor force by 2.1 percent.

The state’s seasonally adjusted unemployment rate rose from 4.2 percent in November 2007 to 5.7 percent in November 2008. The seasonally adjusted unemployment rate rose from 4.7 percent to 6.7 percent over the same period.

Despite recent oil price decreases, the state’s mining industry continues to gain jobs. It ranked first in job creation, followed by professional and business services, leisure and hospitality, education and health services, and construction.

All Texas metros experienced positive employment growth rates from November 2007 to November 2008. McAllen-Edinburg-Mission ranked first in job creation followed by Laredo, College Station–Bryan, Longview and El Paso.

The state’s actual unemployment rate in November 2008 was 5.6 percent. Petroplexes Midland and Odessa ranked first and second in lowest unemployment rate followed by Amarillo, Lubbock, Abilene and College Station–Bryan.

The complete economic report is available on the Real Estate Center's website.

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