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Everything’s Bigger in Texas, Including Business

July 24th, 2010

In CNBC’s recent study, Top States For Business 2010, Texas came out on top for 2010.  Texas posted the highest total points in the history of the study, allowing it to reclaim the top spot over number two Virginia, which was number one last year.  The points are based on “40 different metrics in ten key categories” and the categories are weighted as follows according to the CNBC study:

Big Texan* Cost of Doing Business (450 points)

* Workforce (350 points)

* Quality of Life (350 points)

* Economy (314 points)

* Transportation & Infrastructure (300 points)

* Technology & Innovation (250 points)

* Education (175 points)

* Business Friendliness (175 points)

* Access to Capital (50 points)

* Cost of Living (25 points)

After the points were tallied, Texas ranked number one followed by Virginia, Colorado, North Carolina, and Massachusetts at number five.    Rounding out the bottom five were West Virginia, Nevada, Hawaii, Rhode Island, and Alaska at number 50.

According to government figures, the Texas economy is ranked 15th in the world, bigger than many countries.  It is also home to 64 companies in the Fortune 500, more than any other state.  Big business helped Texas’ economy rise to the top.  That along with many other factors including a more stable real estate market has helped Texas appeal to big businesses.

Despite the fact that the state still has a multi-billion dollar deficit to wrestle, the business economy is healthy and the Real Estate Center at Texas A&M recently reported that Texas has seen positive employment growth in many parts of the state along with job growth in many industries in the state.

For more information on the study, visit: http://www.cnbc.com/id/37642856

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Are Homeowner Associations in Texas too Powerful?

July 17th, 2010

Overturned HomeWhen non-profit organizations like Texas Homeowners for HOA Reform, Inc. come onto the scene to help stop HOA abuse and help reform policies to keep homeowners from losing their homes, there is an obvious problem with the power of HOAs in Texas.  Stories abound about foreclosed homes, power-hungry HOA board members, and out-of-control spending issues where the money going to the HOA is not being used for the neighborhood.

Recently a story surfaced about a military soldier, Michael Clauer, who was foreclosed on by his homeowner’s association while he was serving in Iraq.  Heritage Lakes Homeowners Association said the soldier and his wife owed the association $977.55 and that several certified letters were sent to the homeowners before they were foreclosed on.   The wife was said to be suffering from depression and that she had not opened any mail, including the certified letters, since her husband was deployed.  The attorney representing the Clauers, Barbara Hale, stated that her clients are protected from foreclosure by the Servicemembers Civil Relief Act.   Though that act should get the couple their home back, the homeowner’s association does not own the home anymore.   It was auctioned off for $3,201 and then sold to another person after that.   The case is still in litigation, and the couple may never get their home back.

In a story that recently aired on San Antonio’s KENS 5 TV, a woman in the Panther Creek Subdivision of Stone Oak recently filed an application to build a small gate at the entrance of her house to help protect her autistic son.  She specifically stated that the gate was for the protection of her autistic son. The application stated if she heard nothing back from the HOA in 30 days she could proceed.   Ms. Colquhoun, the owner, waited 60 days and then proceeded to build the life-saving gate to match existing railings on the home.  After she had the gate professionally installed she was harassed by neighbors and was reported to the HOA.  The HOA told Colquhoun to tear down the gate and pay a fine.  She was told that her house could be foreclosed on if she did not remove the gate.

Though many HOAs are set in place with good intention to help better the neighborhood, retain/increase home values, and provide services and maintenance for pools, parks and community centers, many HOAs abuse the powers they have.  Exercising the right to foreclose on a home for a few hundred does not seem like something that is possible, but many people have lost their homes to HOAs in this manner.  To make sweeping changes, legislative reform may be the only way to set things straight.

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Is a Housing Shortage Coming?

July 3rd, 2010

For several years anyone trying to sell a house could tell you that it’s been a buyer’s market.  With so many recent foreclosures coupled with a weak job market and tightened lending practices, the country has seen a glut of houses just begging to be sold.  But could that all change as the economy turns around and more people find themselves with jobs, a little bit of savings, and a desire for homeownership?

Home ConstructionAccording to a June 15, 2010 CNN Money article, “The nation is simply not building enough homes to keep up with potential demand.   Just 672,000 new homes were started in April, an annualized rate and less than half the long-term run rate needed to meet the nation’s natural population growth.”   Along that same vein, Brian Wesbury, chief economist at First Trust Advisors said in an interview with Steve Forbes, “We need one and a half million houses per year just to keep up with population growth.”

Perhaps the panic of a housing bubble may be years away, or may not even be a realistic issue.  The fact that fewer new homes have been built can be explained by simple looking at supply and demand: less demand means less supply.  The National Association of Home Builders reported that new home sales plunged 33% to their lowest level on record in May.  With so much current surplus inventory and a myriad of glum economic reports, many doubt the validity of a true housing shortage.

Those who continue to support the idea that a housing shortage is coming look to the fact that many of the homes available from foreclosure may not be inhabitable or that people may not be willing to live in the areas where these houses are.  According to the U.S. Census Bureau as many as 7 million homes are vacant, but not for sale.  It could be that when employment levels stabilize and people are able to save for a down payment, they may want a new home and not a foreclosed one that has been sitting vacant for years.

Others have noted many individuals and families have moved out of their unaffordable or foreclosed homes and moved in with parents, relatives, or friends.   When the economy recovers, these people will likely want to move into their own homes.  Combine this with an ever-growing population and it is possible that a housing bubble could be on the horizon.

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San Antonio – Summer Staycation and Day Trips

June 25th, 2010

With millions of travelers trying to decide on a destination this summer, many will choose San Antonio, Texas as their place to visit this summer.  In fact, U.S. News and World Reports recently ranked San Antonio, Texas second in a list of top family destinations in the U.S.  Since thousands and thousands of people will choose to fly or drive to San Antonio to partake in its wonderful sunny weather and amazing natural and man-made attractions, if you live in or around San Antonio, why not take advantage of what’s right in your backyard?

Downtown San Antonio – The Riverwalk, Tower, Alamo and So Much More

San Antonio River Walk

San Antonio River Walk

Downtown San Antonio has so much to offer.  If you want to make your visit a true staycation, there are a variety of hotels in which to stay.  Many of the hotels are right on the riverwalk with views of the river.  There are name brand hotel chains such as the Hyatt and Marriott which offer lavish accommodations and restaurants.  If you want to get into the true feel of San Antonio, there are also the Emily Morgan and Menger hotels, accommodations  unique to San Antonio and rich in history.  Some even claim that the Emily Morgan is haunted!

Whether you choose to stay downtown for your staycation or you are just planning a day trip to the downtown area, there are plenty of things to see and do.  For those who like to shop, there is the River Center Mall which is home to a variety of department stores, specialty shops and restaurants.  The mall also houses an IMAX theater.  If classic San Antonio is more your style, then a quick walk from the shops leads you to the historic Alamo.  Full of rich history, the Alamo is still one of the top tourist destinations in the U.S.

Tower

Tower

The Tower of Americas, built for the 1968 World’s Fair, Hemisfair, offers an observation deck high above.  The views are absolutely amazing and you will feel like you are “on top of the world” when you take the elevator trip to the top.  The tower also offers visitors an upscale dining experience and a 4-D Texas-themed multi-sensory theater.

Walking along the river is better than ever with the recent multi-million dollar expansion.  Once you’ve strolled along the river and taken a boat ride you’ll probably want to dine at one of the many restaurants on or near the river.  With plenty of choices, there is sure to be something that pleases even the pickiest of eaters.  Just some of the many restaurants include the Hard Rock Cafe, Rain Forest Café, Landry’s, County Line, Dicks and a myriad of unique San Antonio restaurants.

Sea World, Fiesta Texas and Splash Town

If you are looking for something more “themed” San Antonio has its share of theme parks as well.  Sea World of San Antonio offers children and adults the chance to get up close and personal with sea creatures from all over the world.  Fiesta Texas offers visitors a chance to ride roller coasters, watch shows and cool off on some wild water adventures.  Splash Town offers visitors a full water park complete with slides, rides and a wave pool.

Day Trips – Hill Country and Beyond

Cowboys

Texas Cowboys

True hill country life is only a quick trip away.  In about 30 minutes to an hour you can be in one of many quaint towns surrounding San Antonio.  Bandera, Texas is home of the cowboy and offers an opportunity to visit a real dude ranch.  Hiking trails, horseback riding and nightly rodeo shows are just some of what you can find in Bandera.  If cuisine and wine are more your thing, Fredricksburg, Texas offers several local vineyards complete with tours and tastings.  Perhaps a relaxing day at Canyon Lake or a ride down the Guadalupe River in New Braunfels will help you beat the heat and relax on a lazy summer day.  Caves, canyons, natural springs, and a variety of local wildlife can also be enjoyed around the area.

There is so much to see and do in San Antonio and the surrounding areas that once you go on your staycation or day trip, chances are you’ll be planning your next trip to another San Antonio destination by the time you are done.

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What You Need to Know About Foreclosures in Texas

June 11th, 2010

The number of foreclosures in Texas is up and according to new RealtyTrac data, 1 in every 861 housing units received a foreclosure filing in May 2010, bringing the total of foreclosed homes in Texas to over 79,000 units.  The hardest hit areas seem to be in the San Antonio, Austin, and Dallas/Fort Worth areas.  In less populated areas, like West Texas, the results have been less dramatic.

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 SafelyForeclosures

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.

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San Antonio Home Appraisals Down for 2010

June 5th, 2010

For the second year in a row, the San Antonio area has seen its residential appraisals decrease.   Unlike other areas of the country, San Antonio’s dip has been small in comparison.  In 2009, the overall reduction in appraisal values went down by about 2% (according to the San Antonio Express News).  This year has also produced similar results with approximately 60% of all homes seeing a decrease in their appraisals.  This is a big shift from the year to year increases seen throughout the city for more than a decade.  The Bexar Country Appraisal District reported that they had not seen a decrease in residential appraisals since the early 1990s.

HraphThe shrinking values seem to be consistent with the recession-based conditions that have plagued most of the country.  An increase in foreclosures and a slowing housing market seem to be the main causes for the decline.

Though the majority of residential property owners saw their values dwindle, almost 30% of residents saw an increase in property value.  Neighborhoods like Alamo Heights, The Dominion, Olmos Park, and other upscale areas were able to weather the recession with flying colors, at least according to how the Bexar County Appraisal District sees it.

Only homeowners who saw at least a one thousand dollar rise over last year’s value will receive a notice in the mail about their appraisal, but any homeowner may protest their tax rate.  If you are a Bexar County resident and did not receive a letter in the mail, chances are your appraisal went down.  To check what your home is appraised for and to see how much your tax base will be, you can go to http://www.bcad.org and select the Property Search option.

Even if the value of your home went down, it’s always a good idea to check comparable houses in your neighborhood to make sure that your value is in line.  For example, if your 2000 square foot home is appraised at $200,000, and a similar house in the same condition just down the street appraised for $150,000, you may have a good case to file a protest.

If you don’t think your house is appraised correctly and you decide to argue your case with the appraisal district, be sure to have your facts and information ready.  You will be unlikely to make any progress by simply complaining or saying “it’s not fair”.  If the values are out of line with your neighbors, make sure you have plenty of data to back up your claim.  It might also help to take pictures of your home and neighborhood , and get professional estimates about possible repairs needed.  All of these things can help your case.

Now is a great time to buy in San Antonio.  Search for homes in the San Antonio area.

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Tucker Hill – A Dream Come True For Those Seeking Luxury Living in the Dallas Area

May 29th, 2010

Tucker Hill is one of those neighborhoods you would think only exists in the movies.  This traditional custom home neighborhood is located in charming McKinney, Texas, just north of U.S. 380, and north of Dallas.  From charming Craftsman style homes to stately manners, the custom choices from Flagstone Custom Homes, Tim Jackson Custom Homes, Darling Homes and Southern Land Company Homes give potential homebuyers an opportunity to truly customize their dream home and live out their vision.

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Though just in its infancy, this neighborhood has big plans to have the amenities that most people can only dream about.  Currently in the development phase, the resort-style pool rivals those found in any five-star hotel.  With its zero-entry area, interactive play areas with splash fountains and spray guns, it is sure to keep any child amused for hours.  Add to that a lovely covered porch area, playground, outdoor grill, and deluxe restroom facilities, and it is sure to make the entire family feel pampered.

Southern Land Company doesn’t stop there with the amenities for Tucker Hill.  Bike paths, walking and hiking trails, playgrounds, parks and stocked fishing ponds can be found throughout the community with a neighborhood center every quarter mile.  They’ve even brought in a full-time Activities Director to help bring fun and excitement to the neighborhood and bring interconnectedness to all who will call Tucker Hill home.

Tucker Hill isn’t just a community, it is an experience.  A Town Centre is also in the works, comprised of shops that meet the needs of the residents and architecture that compliments the neighborhood.

Homebuyers can choose from a large selection of luxury plans which have either been specially designed or reviewed by the Southern Land Company.  And because this is such a unique community, homebuyers are also welcome to customize their own creation.   Tucker Hill is sure to be a favorite of those wanting to live in true luxury in the Dallas area.

Such well thought out master planned communities aren’t something you see everywhere.  If you are interesting in finding out more about this luxurious neighborhood, or have questions about other wonderful new home opportunities in Dallas, contact Save On A New Home at 1-866-560-1079 for more information or to schedule a showing.

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Be Amazed at Alamo Ranch

May 27th, 2010

San Antonio is full of magnificent new master planned communities, and one that is sure to impress is Alamo Ranch.  This sprawling new development in Northwest San Antonio is nestled at the edge of the hill country in true serenity just outside Loop 1604 and Highway 151.  Away from the true hustle and bustle of San Antonio, but convenient to shopping, restaurants, hospitals and even major employers with multiple builders, floor plans and price ranges there is sure to be something that will please any palette.

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Ryland Homes has opened a new section in The Trails at Alamo Ranch.  These new homes are priced from $225,000 to $350,000 and offer large open floor plans ranging in size from just over 2000 square feet to well over 3500 square feet.  Families will be impressed with the one and two story floor plans, some of which offer up to five bedrooms!  This community also has a newly opened amenity center filled with goodies like a lap pool, double tennis courts, basketball sport court, and an oversized playscape.

Medallion Homes also offers new home choices at The Summit at Alamo Ranch.  Prices range from the $220s to the $320s and floorplans start at 1752 square feet to an expansive 4150 square feet.  Medallion offers a wide range of extras including optional studies, game rooms, bonus rooms, verandas and covered patios.  Each floorplan offers its own interesting features.

At The Preserve at Alamo Ranch, David Weekly offers homes priced from the $185s with floorplans ranging in size from 1924 square feet to 4021 square feet.   Homebuyers can choose from 55 to 70 foot homesites.  This community also offers abundant, natural landscaping and an amenity center with a pool.

Pulte Homes offers three communities in Alamo Ranch priced from the $190s to $400 plus.  Pulte offers Alamo Ranch – McMullen Series and the DeZavala Series with floorplans ranging in size from 1896 square feet to 3684 square feet.  Included are an aquatics center, playground, and ball field.  Pulte also offers true luxury with Alamo Ranch- Williams Grant community.  Floorplans range from just over 3000 square feet to almost 4500.

Other builders including DR Horton offer homes in this area priced from the $150s.

There are so many choices at Alamo Ranch.  There is truly something for everyone.  For more information on Alamo Ranch, to see about building your own dream home in this amazing subdivision or to locate a home that is ready to move into now, contact us at 1-866-560-1079.

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Pulte Leads in Customer Satisfaction for San Antonio Market

October 16th, 2009

A recent J.D. Power’s survey rated Pulte Homes as number one in the country for customer satisfaction.  The company polled over 26,000 customers in over 24 markets.  The 2009 study revealed that Pulte ranked number one in 11 of those markets, including San Antonio, Texas.

The survey addressed many facets of the homebuilding processing including workmanship, warranty, customer service, design features, builder plans, and community features to name a few.

This year, J.D. Power’s revealed that workmanship and materials seemed to rank as a more influencial factor this year as compared with previous years.

Besides San Antonio, Pulte also ranked number one in several California cities, Atlanta, Chicago, Orlando, Philadelphia, Tampa, Tucson, and Washington D.C.

Hopefully Pulte’s recent acquisition of Centex Homes will give Texas cities even more reasons to be happy with their new home.  Both builders have a strong presence in San Antonio and other Texas markets.

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Houston Housing Market Shines

October 16th, 2009

If you’ve been watching the housing market, you might notice that some areas of the United States are still seeing record numbers of foreclosures.  Though Houston has its share of foreclosures, the percent of the foreclosure market shares are about half of what they were this time last year, according to the Houston Association of Realtors (HAR).  That said, HAR reported that first time home buyers boosted Houston home sales and a recent study by Brookings ranked Houston number one for change in housing price index from 2nd quarter 2008 to 2nd quarter 2009.  It gained almost 5%.

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.

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