Citizen Input Called For I-35 Improvements

Texas residents along the I-35 corridor will soon have a forum through which they can air their grievances with the congested highway with the beginning of several fall public workshops that will develop a blueprint for improving the corridor.


Regional transportation officials have been meeting since January to begin developing the blueprint. The officials represent cities and counties along the I-35 corridor, including Travis, Bastrop and Williamson counties along with several other counties and cities reaching down to the southwest tip of Texas.

There is a total of four segment committees that will meet through October. Segment Committee Three, representing the Austin and San Antonio area, will meet Aug. 25 before the first public planning workshop begins Sept. 20.

The committees have worked to identify regional needs along the corridor and potential solutions. At the end of the workshop sessions, the separate segments will complete their regional blueprint, meet with the I-35 Corridor Advisory Committee together and consolidate their blueprints into one comprehensive mobility plan that will be known as MY 35.

According to a Nov. 12, 2008, report by the Corridor Advisory Committee, the I-35 corridor should adhere to certain principles in order to gain the most improvement, which include the promotion and advancement of alternative modes of transportation, continued long-term funding for maintaining I-35, the use of existing right of ways for continued expansion and the planning of future development based on need.

Citizens and stakeholders are encouraged to attend the workshop sessions beginning in September in order to provide as much input as possible to improve the I-35 corridor. Once the final comprehensive blueprint is made it will be given to the Texas Department of Transportation to help in future corridor development.

The next Corridor Segment Committee Three meeting is Aug. 25 from 9 a.m. to noon at the TxDOT Area Office, 4102 S. I-35, in New Braunfels. The first public planning workshop will be Sept. 20 from 6p.m. to 8 p.m. at the Allen R. Baca Center, 301 W. Bagdad Ave. in Round Rock.

Call TxDOT's Government and Public Affairs Division at 463-8700 for more information or visit www.my35.org/about/segment_committees.

Weak Home Sales Numbers Don’t Tell Whole Story, Economist Says

By Bryan Pope, Associate Editor, Real Estate Center
Release No. 27-0810
COLLEGE STATION, Tex. (Real Estate Center) — Home sales statistics are likely to paint a picture of a weakening market through the end of 2010 and the first half of 2011. While it’s tempting to attribute the bleak numbers to a deteriorating housing market, an economist with the Real Estate Center at Texas A&M University said that doesn’t tell the whole story.

“The year-over-year decline in existing home sales will be the result of comparing months when there was no tax credit with those from a year earlier, when the tax credit was artificially increasing sales,” said Dr. Mark Dotzour, the Center’s chief economist.

The $8,000 tax credit for first-time homebuyers went into effect in January 2009 and was planned to expire in November 2009. Home sales gradually started to increase after the tax credit was announced, after bottoming out in January at an annual rate just above 4.5 million sales.

Existing home sales gradually increased in 2009 as buyers and real estate agents became more familiar with the program. Sales topped an annual rate of five million in July 2009 for the first time since September 2008.

As the tax credit deadline approached, home sales spiked in September, October and November 2009. November 2009 was the peak at an annual rate of almost 6.5 million.

The tax credit was extended late in 2009 to include sales with contracts written until April 30, 2010, and closed by June 30 (extended to September 30). Initial homebuyer response to this extension was tepid, but sales picked up substantially in March, April and May 2010, when sales were up 18 percent, 28 percent and 18 percent, respectively, over the same months in 2009.

Then the process reversed itself. Pending home sales fell dramatically in May 2010, the month after the tax credits expired. This was followed by a significant drop in home sales in June and July. In Texas, July 2010 sales were down approximately 25 percent from July 2009.

Dotzour said August figures may not be much better since many buyers purchased homes before the tax incentive expired.

“When you ‘bring forward’ sales through tax incentives, sales will be lower after the tax credit ends,” he said.

Unless Congress creates a new tax credit this fall, Dotzour said monthly sales for 2010 will likely exhibit significant variance from 2009, and a true reading of housing market conditions may not be possible until June or July 2011.

What's In Your Utility Bill?

As Austin Energy plans its first base rate increase in nearly two decades, a question has surfaced: In monthly bills, should customers pay for more than the cost of electricity?

Read more here:  Plan for rate increase raises questions about Austin Energy spending

Solar in South Austin

For millions of years, the sun has yielded an abundance of free, natural energy, and that energy has been largely untapped for modern American homes.


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What you can build for $100,000

What you can build for $100,000

Austin-area home sales fall with expiration of tax credits

Austin-area home sales fall with expiration of tax credits

Austin Home Sales Increase 27%

Austin area home sales rose dramatically in March — up 27 percent — compared with the same month last year, while the median price of buying a home was unchanged, the Austin Board of Realtors reported Tuesday.

The median price for a single-family home in Central Texas was $180,000 in March, the same as March last year. Home sales for the month totaled $422 million with 1,784 single-family homes sold, according to the Multiple Listing Service (MLS) report by the Austin Board of Realtors.

“Though we’ve seen increases in year-over-year sales volume consistently in recent months, it’s likely this substantial increase in volume is related to the impending expiration of the homebuyer tax credits on April 30,” Austin Board of Realtors Chairman John Horton said in a statement.

“What’s most encouraging, however, is that in the midst of this increase in sales volume, our real estate values have remained steady, which bodes well for the long-term value of real estate in Austin.”

Condo and townhouse sales were particularly strong in March 2010, increasing 129 percent to 215 sold in comparison with March 2009. Horton said the market has experienced a sustained demand increase for condos and townhouses since September 2009.

“A softer condo market at the beginning of 2010 provided a good opportunity for buyers, and we are now seeing the results with an increase in activity,” Horton said.

“Condos can be attractive properties for first-time homebuyers, so it’s possible this increased demand is also related to both the first-time homebuyer tax credit, as well as an increased supply of condos in Austin in recent years.”

March 2010 also marked the second consecutive month of substantially decreased “days on market,” which refers to the average time homes remain active in the MLS. At 73 days for March 2010, homes spent 16 percent fewer days on the market than in March 2009.

Sales figures have climbed month-to-month this year, spurring hope the market is recovering. A total 1,145 Austin area homes sold in February 2010, up 4 percent from the same month in 2009. That was up from 884 homes sold during January, a 5 percent increase from January 2009.

Still, Horton is cautiously optimistic looking toward April’s sales.

“These statistics indicate that demand is continuing to outpace supply, which is encouraging,” Horton said. “However, no one really knows the full impact of the homebuyer tax credits yet, so we’ll look ahead to this summer to determine the sustainability of these conditions.”

Austin 3rd Best City To Relocate To

Austin was ranked the third best city to move to in the United States, according to a RelocateAmerica.com report.

The relocating resources website listed Austin just behind Huntsville, Ala. and Washington D.C. for overall best place to move. Those listed were nominated by RelocateAmerica.com users and then selected by the site's editorial team. The company also analyzed reviews, interviewed residents and looked at economic, environmental, education, crime, employment and housing data.

The Texas State capital took the No. 2 spot on the "America's Top 100 Places to Live for 2010" report for recovery, among others less impacted by recession and therefore expecting a swift recovery. Huntsville, Ala. was ranked first on that list.

Austin was also listed as the fifth-best "earth-friendly" location behind Portland, Ore. (No. 1); Boston, Mass. (No. 2); Madison, Wis. (No. 3); and Boulder, Colo. (No. 4).

Home Improvement Ideas

Construction Up Along With Builder Confidence

Construction of new homes rose to an annual rate of 591,000 in January, up 2.8 percent from December when the revised rate was 575,000, the Commerce Department announced Wednesday.

Meanwhile, the monthly home builder confidence scale rose two points in February to 17.

The National Association of Home Builders Chair Bob Jones said, "Builders are slightly more optimistic that the housing recovery is finally beginning to take root.”

Builder confidence was highest in the Northeast and the South, weaker in the West and lowest in the Midwest.

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Austin Housing Update - January 2010

Home sales in Austin were once again strong in January, with 1,646 purchase agreements signed. That is the sixth consecutive month where the change compared to a year ago was even or positive! Please click the link for further information on the Austin Housing Market and Stats!

Austin Luxury Condos Head To Auction - Austin Business Journal

A chunk of units in the plagued Sabine on Fifth Austin residential complex will hit the auction block this month in an attempted recovery from foreclosure threat and lawsuit.

Beverly Hills-based auctioneer Kennedy Wilson will sell-off 27 of the available 44 units Feb. 28, taking bids as low as $85,000 and $195,000. The apartments were previously listed near $204,900 and $550,000. Condo buyers would receive a one-year Tower Health Club and Spa membership and up to $1,500 in closing costs paid by the seller.

The auction will begin at 1 p.m. at the Hilton Austin Downtown and potential buyers must register by Feb. 25. The company has set up a Web site specifically for auction information here.

CWS Capital Partners converted the 10-story former office building in 2007. Floor plans range from one-bedroom, 682-square-foot units to two-bedrooms with 1,419 square feet. The company was forced to make significant improvements after complaints from several residents resulted in a lawsuit, which was later dismissed. The company narrowly escaped foreclosure on the Sabine after lenders Compass Bank and GE Capital agreed to extend a defaulted construction loan.

Facelift For Airport Gateway

East Seventh St. between downtown and US 183 is a sight of degrading pavement and deteriorating buildings, but construction begins in February to overhaul the road into an attractive gateway to the airport.

Austin-area firms Capital Excavation and Cash Construction have been awarded the 18-month, $11.5 million project that will improve traffic and business conditions from Navasota St. to North Pleasant Valley Rd.

Mixed-use developers and retail franchises are already showing interest in the corridor. The project is funded through the 2006 bond election and federal earmarks. The city will pay contractors $5,000 per day, up to $250,000, for each day the project is completed ahead of schedule.

Last Chance To Refinance Below 5%

If you want to refinance your mortgage into a loan with a sub-5% interest rate, better hurry. Your window of opportunity is closing fast. Read Below...
Last chance to refinance below 5%

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Keller Williams Realty Ranked as Top Real Estate Franchise by Industry Leader and Entreprenuer Magazine

Keller Williams Realty joined the ranks of the top franchises in the world last week, when the company was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine. During the same week, the company was also voted the Most Recognizable Brand of Real Estate Franchises for 2009 in an industry-wide survey for the Swanepoel TRENDS Report.

“The Swanepoel TRENDS Report is a respected source for the real estate industry and beyond, as is Entrepreneur magazine, and we are excited to see our agents honored in this way for all of their hard work,” said Mark Willis, CEO, Keller Williams Realty. “We certainly wouldn’t have been included on either list without the dedication and resolve of our agents.”

According to the ranking in Entrepreneur magazine, the most important criteria to determine the top franchises included financial strength and stability, as well as growth rate and size of the franchise system. The magazine also looked at the number of years the company has been in business and the length of time it’s been franchising, in addition to start-up costs and financial data. Additionally, Keller Williams Realty made an impressive showing on the overall list, placing higher than any other real estate franchise.

The Swanepoel TRENDS Report is published by Stefan Swanepoel, a real estate industry speaker and insider. The survey was crafted to determine the Most Recognizable Brand for Real Estate Franchises for his report out in February 2010. The survey included votes cast by 11,000 plus real estate agents, who cast 390,000 votes to select the top 10.

Earlier in the year,Keller Williams Realty also received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms from J.D. Power and Associates for the second year in a row.

“We are extremely proud that our associates and company are being recognized for our strength and stability during this time in our industry,” said Mary Tennant, president and COO, Keller Williams Realty. “We attribute our success to being in business with phenomenal people and to our core business models, which have allowed our franchises to thrive during any market.”

About Keller Williams Realty Inc.:
Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 679 offices and 73,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).

3 Reasons Home Prices Are Heading Lower

Interesting article from Money/CNN.

3 reasons home prices are heading lower - Dec. 31, 2009

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Austin Ranked Best Real Estate Prospects - Austin Business Journal

Happy New Year! Best wishes for a healthy and prosperous 2010! As you can tell from the delay in contacting this blog, it's nice to be back to work after a much relaxed week. Good news hits Austin already for the 2010 real estate market. The following article from Austin Business Journal states that in a ranking of the top 10 markets for long-term office, industrial, retail and multi-housing investment potential, Austin was listed number one. This is great to know as there is confidence in the further growth and development of Austin. While I do not work the commercial aspect of real estate, I will be happy to refer you to many great commercial realtors at Keller Williams.

I did think this artice was interesting, and wanted to share.

Austin ranked best city to invest in commercial real - Austin Business Journal: