Posts Tagged ‘texas’

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

Are you looking to buy a new home in Texas?  Search great deals on new homes at SaveOnANewHome.com.

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Forbes.com – Best Cities for Young Professionals – 3 Texas Cities Hit Top Ten List

July 18th, 2010

In Forbes’ fourth annual list of “Best Cities for Young Professionals”, Houston, Texas ranked number one followed closely by Dallas which ranked sixth and Austin which rounded out the top ten at number ten.  At a time when unemployment across the country is close to ten percent, recent college graduates are finding it more difficult to find good paying jobs upon graduation.

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 (Courtesy of Woolie Monster)

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

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Texas Leads the Way: Digging the Nation out of the Recession the Texas Way

July 18th, 2010

According to a recent report by the Texas A&M Real Estate Center, Texas appears to be leading the nation out of the recession based on recent data.  The report reveals positive employment growth in many parts of the state and measurable increases in job growth in many industries in the state.

Unemployment Line

Unemployment Line

Based on the report by Ali Anari and Mark G. Dotzour, “After 16 months of job losses, the state’s annual employment growth rate turned positive and posted an annual employment growth rate of 0.2 percent for the period from May 2009 to May 2010. The nation’s rate of job losses has decreased from 4 percent in August 2009 to 0.4 percent in May 2010.”

Texas saw positive employment growth in thirteen of its metro areas from May 2009 to May 2010.  According to the study College Station-Byran ranked first in job creation.  The Austin-Round Rock – San Marcos area became the leader in Texas for major economic recovery, showing two consecutive months of job gains.  The Dallas area, including Plano and Irving, saw a

positive growth rate in May 2010 after 19 months of job losses.  The rank of the top thirteen metro areas are below with percent growth in parenthesis:

1.College Station-Bryan (3.3)

2. San Angelo (2.7)

3. Waco (2.4)

4. Killeen-Temple-Fort Hood (2.1)

5. McAllen-Edinburg-Mission (1.6)

6. El Paso (0.9)

6. Brownsville-Harlingen (0.9)

6. Tyler (0.9)

9. Texarkana (0.5)

9. Austin-Round Rock-San Marcos (0.5)

11. Laredo (0.3)

11. Lubbock (0.3)

11. Dallas-Plano-Irving (0.3)

Beyond that, five Texas industries produced more jobs in May 2010 than in May 2009.  The industries included education and health services, mining and logging, other services, leisure and hospitality, professional and business including the government sector.  The education and health services added 59,500 jobs, the government sector added 35,100 jobs, the leisure and hospitality industry saw an increase of 10,600 jobs, andprofessional and business services added 1,500 jobs.  Other services which include

repair and maintenance, personal and laundry services, religious, civic and professional organizations gained 4,800 jobs.  The mining industry grew by 4.3 percent. (The complete report can be viewed at: http://recenter.tamu.edu/pdf/1862.pdf ).

Positive employment data has helped make Texas a true shining star during this economic recovery period.

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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.

Are you looking for a new home?  Find a new home in the Dallas area today!

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UTSA Finally Becoming a Major School in Texas

June 27th, 2010

The University of Texas at San Antonio may seem to be business as usual, but this quiet giant has a thing or two up its sleeve.  With 134 undergraduate and graduate programs and over 29,000 students, UTSA is now turning heads and making people take notice as it has become a stand-out university in Texas.

With the prospects of becoming a tier-one university, UTSA has gained momentum on many levels, including research.   According to a recent article published through the UTSA website (www.utsa.edu),  Robert Gracy, UTSA vice president for research said, “To say we’ve almost doubled our research activities in the past five years is really significant.  Today, we are certainly on an upward trajectory to tier one status. We have developed a stronghold of collaborative research partners in the region and our recruitment of top faculty will certainly lead to even larger increases in research expenditures in the coming year as those individuals gain traction at UTSA.”  Research activities are key in gaining the tier-one status and the funding that goes with it.UTSA Engineering Building

As this University continues to grow, so does its housing.  According to the San Antonio Business Journal, American Campus Communities Inc. has begun developing a new apartment complex with 14 building and 792 private bedroom and bathroom “configurations” which will serve the students at the University of Texas at San Antonio.  It is scheduled to be completed in time for fall of 2011 and will be located next to the main campus.

With Larry Coker at the helm of its newest venture, the University of Texas at San Antonio now has a football team.  Twenty-four high quality athletes recently signed National Letters of Intent to play for the school.   The team will begin playing in 2011 as a Football Championship Subdivision Independent and will begin a reclassification period to become a Football Bowl Subdivision Independent in 2013.

What football team is complete without a band?  In March of 2010 University of Texas at San Antonio hired a marching band director to lead a 150 member marching band for the 2011 season.  Ron Ellis, the new band director, said he planned to expand the band to 350 members eventually.

The high quality research, new buildings, new housing, football team and band added to a myriad of other accomplishments make the University of Texas at San Antonio a true stand-out.  Additionally, the June 2010 Edition of Diverse Issues in Higher Education Magazine ranked UTSA fourth in the nation in the number of undergraduate degrees awarded to Hispanics.

Ricardo Romo, president of the University of Texas at San Antonio, summed it up best by saying that the University will work on creating a tier-one university for a “tier-one city.”

Interested in looking for a new home in San Antonio?  Search San Antonio for great deals now!

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The Home Buying Process in Texas

June 20th, 2010

If you are thinking about buying a home in Texas, there are some steps that can help make the process run smoothly, and it’s important to understand how the buying process works before you proceed.

Find a Real Estate Agent

The first thing you will probably want to do is find a licensed real estate agent.  You can start your search online or by asking friends, family and/or neighbors about any Texas REALTOR® who might make a good fit for you.  You may want to speak to several agents to find one who specializes in the buying process and who is familiar with the area in which you are looking.  A licensed real estate agent will guide you through every step of the buying process.

Family in front of home

Prioritize Your Desires For Your Home

Once you’ve found a real estate agent that fits your needs, you’ll need to decide on what specifics you’ll want included in your home.  Things you may want to consider include location, price range, taxing jurisdiction, school district, commute time to work, and proximity to shopping, hospitals and major highways.   You may not be able to find a home that meets your exact wants and needs in your given price range, so it is important that you prioritize your list to find the best match possible.

Pre-Qualify For A Loan

After you’ve narrowed your requirements down, you will probably want to pre-qualify for a loan before you make an offer on a house.  Dealing with a mortgage broker or bank before you make an offer on a house is a smart step, because then you will have a much better idea as to how much home you can afford.  This will also be the time you will decide how much down payment you have the funds for and how much you will actually qualify for.  You’ll need to make sure that you have all of your financial documents for the last couple of years which outline your income, assets and any outstanding credit you may have.

Find Your Home and Make An Offer

Once you pre-qualify, you are ready to find that perfect home.  You and your real estate agent will probably look at many homes before deciding on one.  Once you find one you like, you will make an offer on the home.  Your real estate agent will sit down with you and fill out all of the standard state required paperwork in order to make an offer.  The seller has the right to accept, reject or make a counteroffer.  If there is a counteroffer, it may take some time to negotiate a fair deal.  If your offer is accepted, the paperwork will become a binding contract and it will be one of the most important documents you sign in the process since it outlines the terms and conditions of the transaction.

Have An Inspection

After your offer is accepted you will want to get the home inspected by a qualified inspector.  This is also a good time to have a termite inspection performed as well.  You may want to ask you real estate agent to request that the seller include a one year residential service contract as part of the deal.   This is often done with an existing home to ensure that certain items will be repaired if there are any issues with the home after you move in.

Secure Financing

Next, you will secure a loan to finance the purchase of the home.  If you pre-qualified for a loan before your search began, much of the paperwork may already be done.  If not, you will need to provide income, asset and credit information to complete the loan application and lock a rate. If you put down less than 20% you also will be required to pay PMI, Private Mortgage Insurance, which protects the lender if you default on the loan.

Check  the Title

The contract will then be sent to a title company and the title will be investigated to make sure there are no legal issues with your property.  An implied easement or an existing lien may be issues that could surface.  In Texas, according to lawyers.com liens on a piece of property may include the following:

  • Abstract of judgment
  • County assessments for road improvements
  • County litter lien
  • County weed and sanitary lien
  • Deed of trust or vendors lien
  • Federal estate tax lien
  • Federal income tax lien
  • Federal judgment lien
  • Federal lien securing a judgment imposing a criminal fine
  • Homeowners’ association lien for assessments
  • Mechanic’s lien by affidavit
  • Mechanic’s lien contract
  • Miscellaneous state tax liens
  • Municipal assessments for street improvements
  • Municipal assessments for water/sewer systems
  • Municipal demolition lien
  • Municipal utility services lien
  • Municipal weed and sanitary lien
  • Solid waste facility remedial lien
  • State inheritance taxes
  • Surface coal mining reclamation
  • Unemployment taxes
  • Water district standby fees
  • Water district taxes
    (Source: http://research.lawyers.com/Texas/Buying-a-House-in-Texas.html)

Having the title researched is an important step and protects you.  The title company will notify you of any issue with the property and will issue you title insurance to further protect your rights as a homeowner.

Go to the Closing

Once the title clears and the financing is secured, you’ll be informed of the closing costs for which you will be responsible. The money you will need to close the deal will include your down payment, inspection costs, title insurance, and any other fees associated with the closing of the home.  You’ll schedule a time with the title company to sign all of the paperwork, bring in closing costs and finalize the loan.  The seller will also sign papers to transfer the rights and validate the information they disclosed about the home.

The last step is to pick up your keys, move in and enjoy your new home!

If you are looking for a new home and need excellent buyer representation, check out Save On A New Home to start your search today.

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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.

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

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San Antonio Military Can Take Advantage of Extra Savings

September 24th, 2009

If you are an active-duty member of the military and looking to buy a new home in the San Antonio area, please note that KB Homes is offering a limited-time offer of $2500 toward KB Home Studio options when you use KB Home Mortgage, LLC for your financing.

The communities which qualify include: Enclave at Lakeside, Mesa Creek, Cobblstone, Sundance Trails, Sundance Ridge, Spring Tree and Auburn Hills at Woodcrest.  Home communities start from as low as the $90s and offer homes with square footage ranging from a quaint 1,067 square feet to a sprawling 3,728 square feet.  Neighborhoods are close to area military bases and communities offer an array of amenities.

To take advantage of this offer, you must purchase one of these “Built to Order” homes by November 30th.

Please contact one of our Save On A New Home San Antonio Real Estate agents, toll free at 1-866-560-1079 for further details.

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