According to recent information released by the Real Estate Center at Texas A&M University, Texas has had three months of positive annual employment growth after 16 months of job losses.   The growth rate from July 2009 to July 2010 was 1.3 percent for the entire state, compared with a rate close to zero percent for the nation.   Nineteen Texas metro areas had positive employment growth rates with San Angelo leading the state with a percent growth rate of 3% followed by College Station at 2.9% and the Austin area with 2.5% growth.  Other metro areas such as Dallas, Corpus Christi, and El Paso saw a positive growth rate in employment also.  San Antonio and Houston had a slight decline in employment.

Texas Metropolitan Areas Ranked by Employment Growth Rate,

July 2009 to July 2010 (Rank Metro Area Percent Growth Rate)

1.            San Angelo (3.0)

2.            College Station-Bryan (2.9)

3.            Austin-Round Rock-San Marcos (2.5)

4.            McAllen-Edinburg-Mission (2.0)

5.            Killeen-Temple-Fort Hood (1.9)

6.            Dallas-Plano-Irving (1.3)

Texas  (1.3)

7.            Corpus Christi (1.0)

8.            Sherman-Denison (0.7)

8.            Lubbock (0.7)

8.            Odessa (0.7)

8.            El Paso (0.7)

Source: Real Estate Center at Texas A&M University

In addition, all Texas industries except the construction and information industries had more jobs in July 2010 compared with July 2009 numbers.

Are you interested in a finding a new home in Texas?  Take a look at Save On A New Home for the best deals in the state.

These top ten cities are places for the young business professional to seek employment and receive better than average incomes.  The list was compiled based on the rankings of unemployment numbers, average income and cost of living.  Forbes also ranked metro areas based upon how many of the 200 largest U.S. public companies were located in that area.  “Elite graduates” were also factored into the equation.  Forbes counted the number of Princeton, Harvard, Stanford, Duke, Rice, and Northwestern University Class of 2000 graduates who were living in each city today.

Forbes declared, “The Lone Star Shines” based on the fact that three of the top ten cities on their list hail from Texas.  Houston, ranks number one overall, and boasts a strong economy, good average income and is home to 14 of the top 200 public companies, second only to New York City.  Dallas at number six offers a “$63,000 median salary for college graduates,” and Austin has low unemployment numbers compared to the rest of the nation.  Below is how Texas stacked up:

Houston, Texas

1. Houston, Texas
(Metropolitan Statistical Area: Houston-Sugar Land-Baytown, Texas)
Cost of Living rank: 27
Large Companies rank: 2
Elite Graduates rank: 6
Average Income rank: 7
Unemployment rank: 18

6. Dallas, Texas
(Metropolitan Statistical Area: Dallas-Fort Worth-Arlington, Texas)
Cost of Living rank: 28
Large Companies rank: 10
Elite Graduates rank: 13
Average Income rank: 12
Unemployment rank: 13

10. Austin, Texas
(Metropolitan Statistical Area: Austin-Round Rock, Texas)
Cost of Living rank: 33
Large Companies rank: 25
Elite Graduates rank: 11
Average Income rank: 17
Unemployment rank: 5

Other cities on the list were Washington, DC (2nd), Minneapolis /St.Paul, MN (3rd),  New York, NY (4th), Boston, MA (5th), Seattle, WA (7th), Denver, CO (8th), and Atlanta, GA (9th ).

The full Forbes list can be accessed at their website: http://www.forbes.com/2010/06/17/best-cities-young-professionals-lifestyle-real-estate-careers.html

Are you looking for a new home in Texas?  Try SaveOnANewHome to search great deals on a new home!

Choices for Homeowners Facing Foreclosure

Homeowners faced with foreclosure have several options they may want to consider before giving up completely.  According to the Texas A&M Real Estate Center, homeowners have a few choices available to them before they must leave their home.   First, if a homeowner has the resources, he may end the foreclosure process by paying off the debt before the lender sells the home.  This is called equity of redemption.

Another option is for the homeowner to seek financing from another lender.  This may be a difficult task, especially since stricter lending practices are in place and the homeowner needs to have good credit to secure the loan.

The homeowner can try to sell the home and pay off the debt with the money from the sale.   There is usually little time for this, and the homeowner will have to get the home up for sale before the foreclosure process begins.

According to Texas A&M, an option that is worth trying is a DIFL (deed in lieu of foreclosure).  This occurs when the homeowner gives the property back to the lender in exchange for the cancellation of the debt.  In a tough economy, with so many foreclosures, it may be difficult to convince the bank that it should forgive debt in exchange for the home.   Short sales, where the lender agrees to sell the property at a slight loss, are a growing trend which many lenders may consider before foreclosing.

Buying a Foreclosed Home Safely

If you are not facing foreclosure, but are interested in getting a good deal by investing in one, now is a great time to look at what the market has to offer.   With loans at record lows and foreclosures at an all time high, now may be the perfect time to buy that dream home you never thought you could afford, or to purchase those investment properties you always wanted.

With that said, the foreclosure market is not one to go into lightly.  Do your research and find out as much as you can about the home/homes in which you are interested.  A good deal at first may turn into a money pit if there are lots of repairs and issues with the home.  There may be back taxes, liens, or even tenants who refuse to leave the foreclosed property.  Sometimes foreclosed homes are run-down or vandalized by prior owners, angry from being thrown out.   Good bargains can still be found, but gain as much information about the property before bidding on it.

If you don’t have time to do the research or are intimidated by the prospects of foreclosure, a safer, more reliable option exists: bank-owned foreclosures.  Foreclosed properties owned by banks are usually listed with real estate agents and don’t have all of the potential risks associated with other foreclosed properties.  The lender may be willing to offer low lending rates, lower down payments or reduced closing fees.  These properties may not fetch rock-bottom prices, but they will be a bargain in their own right and you might be able to sleep soundly once you purchase one.

Remember whether you are facing foreclosure or looking for one, there are many options to consider.

Are you looking for a home in the San Antonio area?  Start you search now.

So this means Houston is one of the healthiest housing markets out there right now.  New construction of homes, townhomes and condominiums is  very active and there are lots of options for homebuyers.  If you are in the market for a home, Houston and some of its surrounding areas such as Baytown, SugarLand and The Woodlands may be just what your economic pocket book needs right now.  Good deals still abound, but you can sleep well at night knowing your new Houston home is  a sound economic investment.

If you are interested in searching for a new home in Houston and want a great deal, don’t forget to check out our free searching system to find a new home reduced by thousands!

The Houston area (including Sugar Land and Baytown areas) ranked number one out of 100 largest metro areas, revealing an increase of 4.9%.  The Dallas area (including Fort Worth and Arlington) ranked 3rd in the study, with San Antonio rounding out the top 10 at number 10 with a price increase of 3.1%.

This “economic report card” indicates that the housing market prices have bottomed out and are rebounding in many metro areas including the biggest Texas cities.

Please take a look at our inventory, browse our site, and contact us if you have any questions.  You can also call us directly at 1-866-560-1079 to talk to an expert real estate agent!

Please let us know what we can do for you!