NEW YORK (Forbes.com) – Dallas, Houston and Austin are among the top four U.S. cities in which to earn a living, according to Forbes Magazine.
The magazine found Dallas to be the most desirable city in the nation to live and work, while Houston was second and Austin came in fourth.
Among the best reasons to take up residence in Houston or Dallas, according to Forbes, is the number of top-ranked companies headquartered in each city: 38 and 15, respectively.
The rankings were determined by median income, cost of living, job growth and the quality of the business environment.
Friday, October 30, 2009
Wednesday, October 28, 2009
TAX CREDIT EXPIRES SOON
HOUSTON (Houston Chronicle) – The window for first-time homebuyers to take advantage of the $8,000 federal tax credit will close at the end of November.
To qualify for the credit, any transaction involving a first-time buyer must close before midnight on Nov. 30, 2009.
Tax credit guidelines are discussed in the Houston Chronicle and in past issues of RECON.
To qualify for the credit, any transaction involving a first-time buyer must close before midnight on Nov. 30, 2009.
Tax credit guidelines are discussed in the Houston Chronicle and in past issues of RECON.
Monday, October 26, 2009
On The Rise
Pending Home Sales ROSE by 6.4% in August to 103.8, its highest level since March 2007. According to Mr. Wood, "Pending home sales increased in August for the seventh consecutive month, suggesting that a bottom has been reached in existing home sales and a moderate recovery is underway. However, the level of home re-sales is still extremely low and any rebound is likely to be modest, especially in the near term. Some of the recent strength is due to first-time homebuyers attempting to close transactions before the federal government's tax incentives expire at the end of November."
Friday, October 23, 2009
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.
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.
Wednesday, October 21, 2009
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.
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.
Monday, October 19, 2009
It's Fall: Time to Prepare Your Home for Winter
Fall maintenance is important because it helps make homes more energy efficient during the winter months, and will safeguard homes against potential seasonal 'disasters' such as leaking roofs or home fires caused by neglected chimneys. Here are ten tips to a safer, warmer winter.
TIP #1 -- Check the heating system. Check the filter, pilot light and burners in a system fueled by gas or oil. Fireplaces, boilers, water heaters, space heaters and wood burning stoves should also be serviced every year. Have the specialist inspecting your unit show you how to change the filter and then you should change it at least once every 2 months. Clean ducts in the heating system. Clean and vacuum dust from vents, baseboard heaters and cold air returns. Dust build-up in ducts is a major cause of indoor pollutants. Ducts should be professionally cleaned about every three years.
TIP #2 -- Have the chimney inspected by a qualified chimney professional. Chimneys should be checked and cleaned, if necessary, on an annual basis. If you are using a wood stove this season, be sure that the stovepipe was installed correctly according to the manufacturer's recommendations and local codes. If there is any doubt, a building inspector or fire official can determine whether the system is properly installed. If you have a chimney that will not be used, consider having it sealed shut.
TIP #3 -- Test fire alarms, smoke detectors and carbon monoxide detectors, and vacuum out the dust. Batteries should be checked every six months to ensure that they're working.
TIP #4 -- Remove excess leaves and damaged branches from trees surrounding the house. Dead branches have the potential to break and fall, ruining roofs, decks, or vehicles and the possibly causing injuries to people.
TIP #5 -- Maintain gutters. Remove all debris that can slow or impede the ability of water to drain effectively from the roof. Trapped water can be destructive not only to the gutters themselves but to the adjoining roof as well. Make sure gutter water drains away from your home.
TIP #6 -- Inspect the roof. Look for damaged or loose shingles, gaps in the flashing at joints with siding, vents and flues, as well as damaged mortar around the chimney.
TIP #7 -- Inspect exterior walls, doors and windows. Check walls and window sills for damage such as cracks, gaps, loose or crumbling mortar, along with splitting and decaying wood. Caulk exterior joints around windows and doors, which helps keep the home weather tight and lower heating bills. Check windows and doors to make sure locks work properly and that they are in good condition. Clean tracks and lubricate hinges. Repair or replace any cracked windows.
TIP #8 -- Maintain steps and handrails. Repair broken steps and secure loose banisters and handrails. Broken steps can cause a dangerous fall. Similarly, a person slipping will grab a handrail for support.
TIP #9 -- Inspect the attic and basement or crawlspace. Insulate voids in the attic - the entire attic floor above a living space should be insulated with at least six inches of insulation, except around electrical fixtures such as recessed lights that aren't rated for contact with insulation. Damp basements and crawl spaces can become mold and mildew problems. Watch for leaks from your water heater, plumbing system and seeping rain water from the roof. Locate and maintain a clear access to your main water shut off valve. If you have a sump pump, test, clean and lubricate it.
TIP #10 -- Shut down sprinkler systems and outside faucets. Homeowners can shut down outside faucets, however weatherizing the underground sprinkler system is best performed by industry professionals who will flush the system before the cold sets in, preventing cracked pipes.
TIP #1 -- Check the heating system. Check the filter, pilot light and burners in a system fueled by gas or oil. Fireplaces, boilers, water heaters, space heaters and wood burning stoves should also be serviced every year. Have the specialist inspecting your unit show you how to change the filter and then you should change it at least once every 2 months. Clean ducts in the heating system. Clean and vacuum dust from vents, baseboard heaters and cold air returns. Dust build-up in ducts is a major cause of indoor pollutants. Ducts should be professionally cleaned about every three years.
TIP #2 -- Have the chimney inspected by a qualified chimney professional. Chimneys should be checked and cleaned, if necessary, on an annual basis. If you are using a wood stove this season, be sure that the stovepipe was installed correctly according to the manufacturer's recommendations and local codes. If there is any doubt, a building inspector or fire official can determine whether the system is properly installed. If you have a chimney that will not be used, consider having it sealed shut.
TIP #3 -- Test fire alarms, smoke detectors and carbon monoxide detectors, and vacuum out the dust. Batteries should be checked every six months to ensure that they're working.
TIP #4 -- Remove excess leaves and damaged branches from trees surrounding the house. Dead branches have the potential to break and fall, ruining roofs, decks, or vehicles and the possibly causing injuries to people.
TIP #5 -- Maintain gutters. Remove all debris that can slow or impede the ability of water to drain effectively from the roof. Trapped water can be destructive not only to the gutters themselves but to the adjoining roof as well. Make sure gutter water drains away from your home.
TIP #6 -- Inspect the roof. Look for damaged or loose shingles, gaps in the flashing at joints with siding, vents and flues, as well as damaged mortar around the chimney.
TIP #7 -- Inspect exterior walls, doors and windows. Check walls and window sills for damage such as cracks, gaps, loose or crumbling mortar, along with splitting and decaying wood. Caulk exterior joints around windows and doors, which helps keep the home weather tight and lower heating bills. Check windows and doors to make sure locks work properly and that they are in good condition. Clean tracks and lubricate hinges. Repair or replace any cracked windows.
TIP #8 -- Maintain steps and handrails. Repair broken steps and secure loose banisters and handrails. Broken steps can cause a dangerous fall. Similarly, a person slipping will grab a handrail for support.
TIP #9 -- Inspect the attic and basement or crawlspace. Insulate voids in the attic - the entire attic floor above a living space should be insulated with at least six inches of insulation, except around electrical fixtures such as recessed lights that aren't rated for contact with insulation. Damp basements and crawl spaces can become mold and mildew problems. Watch for leaks from your water heater, plumbing system and seeping rain water from the roof. Locate and maintain a clear access to your main water shut off valve. If you have a sump pump, test, clean and lubricate it.
TIP #10 -- Shut down sprinkler systems and outside faucets. Homeowners can shut down outside faucets, however weatherizing the underground sprinkler system is best performed by industry professionals who will flush the system before the cold sets in, preventing cracked pipes.
Friday, October 16, 2009
Become a Facebook-posting pro
How do you keep your business and social connections engaged with your posts? Read these tips to find out what you should be posting and how you should be managing your online content.
Before you post your listings or write about what you ate for lunch today, remember that while social networking and online interactions have the potential to turn into business opportunities, Facebook is best used as a way to connect with people on a social level.
Use the following tips to turn yourself into a Facebook posting pro.
Mix personal and business posts. Share great articles and content that your friends would find interesting. Whether it’s a new article from The New York Times on the $8,000 tax credit, or a link to a recipe to the potato salad you are making at a Labor Day party, mix it up. You can also post local events, a photo from your open house or links to videos on YouTube, for example, KW's This Month in Real Estate videos.
Keep your content fresh. Try to post at least once a day, but two or more times a day is best. This gives your friends an incentive to stay connected with you and to visit your page. Not only will your page offer great content, your contacts will continue to come back or even suggest new friends. An easy way to stay connected while on the go is by updating Facebook through your mobile or smart phone.
Join in the conversation. Engage in communication as much as possible. Comment on people’s photos, posts, notes, status updates and look for new friends regularly. Remember, whenever you comment on something it populates your home feed and your friend’s see what you’ve commented on. But, only comment if you have something worthwhile to say, not to just post your blog name or contact information.
If your content is quality, your time spent on social networking will be quality as well. Keep these tips in mind when posting and you will see increased success through your social media efforts.
Be sure to visit the Facebook Pages for KW: www.facebook.com/kellerwilliamsrealty; www.facebook.com/yourfirsthome; www.facebook.com/realestateshift; http://www.facebook.com/millionaireinvestor;and http://www.facebook.com/millionaireagent.
Before you post your listings or write about what you ate for lunch today, remember that while social networking and online interactions have the potential to turn into business opportunities, Facebook is best used as a way to connect with people on a social level.
Use the following tips to turn yourself into a Facebook posting pro.
Mix personal and business posts. Share great articles and content that your friends would find interesting. Whether it’s a new article from The New York Times on the $8,000 tax credit, or a link to a recipe to the potato salad you are making at a Labor Day party, mix it up. You can also post local events, a photo from your open house or links to videos on YouTube, for example, KW's This Month in Real Estate videos.
Keep your content fresh. Try to post at least once a day, but two or more times a day is best. This gives your friends an incentive to stay connected with you and to visit your page. Not only will your page offer great content, your contacts will continue to come back or even suggest new friends. An easy way to stay connected while on the go is by updating Facebook through your mobile or smart phone.
Join in the conversation. Engage in communication as much as possible. Comment on people’s photos, posts, notes, status updates and look for new friends regularly. Remember, whenever you comment on something it populates your home feed and your friend’s see what you’ve commented on. But, only comment if you have something worthwhile to say, not to just post your blog name or contact information.
If your content is quality, your time spent on social networking will be quality as well. Keep these tips in mind when posting and you will see increased success through your social media efforts.
Be sure to visit the Facebook Pages for KW: www.facebook.com/kellerwilliamsrealty; www.facebook.com/yourfirsthome; www.facebook.com/realestateshift; http://www.facebook.com/millionaireinvestor;and http://www.facebook.com/millionaireagent.
Wednesday, October 14, 2009
Send the right news at the right time
Do your clients know?
- Mortgage rates for Aug. 2009 are at 5.25 percent, down from 6.5 percent the same time last year.
- Affordability remains favorable with the median mortgage payments requiring just 16 percent of the average income.
- Home sales are up 17 percent from July 2009, boosting the median home price for June up 3.6 percent to $181,000.
- Get more stats plus tips for making the most out of the buyers market from mortgage industry expert, Tommy Nelms in August’s This Month in Real Estate.
Watch it now and then send it out to your database!
Monday, October 12, 2009
Calling all social media mavens!
Between Twitter, Facebook and LinkedIn, the opportunity to find and cultivate business online has increased dramatically. So tell us: have you seen an increase in your bottom line as a result of all your tweets, posts and general online networking?
Click here to tell us!
Click here to tell us!
Friday, October 9, 2009
Got Questions? Ask Gary!
Get the answers to your most challenging real estate questions. Straight from Keller Williams Realty, co-founder and chairman, Gary Keller, this is your chance to tackle the timeliest topics impacting your business today.
Read Gary’s answers to the most recent questions:
- What if a buyer who is concerned about the market says "isn't my home an investment?"
- What do you find helps people through their fear of failure?
- If I love to do marketing but don’t like to pick up the phone, shouldn't I focus on marketing?
Click here to submit your questions! Check out Gary’s resources on all things real estate on the new Agent Mountain!
Read Gary’s answers to the most recent questions:
- What if a buyer who is concerned about the market says "isn't my home an investment?"
- What do you find helps people through their fear of failure?
- If I love to do marketing but don’t like to pick up the phone, shouldn't I focus on marketing?
Click here to submit your questions! Check out Gary’s resources on all things real estate on the new Agent Mountain!
Wednesday, October 7, 2009
How is a Facebook Profile different from a Page or Group?
Facebook Profiles are for personal use and are where you get “friends.” Friends can be colleagues or relatives, as well as past classmates or neighbors. For example: Mo Anderson has a Facebook Profile.
Facebook Pages are for your business and are for a long-term relationships with your customers. With a Page, anyone can opt in to be your ‘fan.’ Keller Williams Realty has a Facebook Page.
Facebook Groups are a great way to participate in discussions centered around a shared interest or activity. Most often Groups are created by experts or fans of a brand or subject, or even just for fun. For example: Keller Williams Realty is the largest real estate company of Facebook is a group.
Facebook Pages are for your business and are for a long-term relationships with your customers. With a Page, anyone can opt in to be your ‘fan.’ Keller Williams Realty has a Facebook Page.
Facebook Groups are a great way to participate in discussions centered around a shared interest or activity. Most often Groups are created by experts or fans of a brand or subject, or even just for fun. For example: Keller Williams Realty is the largest real estate company of Facebook is a group.
Monday, October 5, 2009
Media spotlights Chattanooga market center’s compassionate charge
In the business of helping to make dreams of home ownership come true, the Chattanooga-East Brainerd market center expanded that mission last year to include helping a terminally ill child to have a dream come true. Working through the Make-A-Wish Foundation, associates decided to grant a full wish for a child, says Robben Mathews, team leader.
Collectively they raised funds for Nash Norris, who has been afflicted with a terminal form of spinal cancer, to visit Disney World and Sea World with his family. The under-water themed sendoff party that they held for Nash and his family tugged at the heartstrings of associates and catapulted the market center into the media spotlight. Read More.
Collectively they raised funds for Nash Norris, who has been afflicted with a terminal form of spinal cancer, to visit Disney World and Sea World with his family. The under-water themed sendoff party that they held for Nash and his family tugged at the heartstrings of associates and catapulted the market center into the media spotlight. Read More.
Friday, October 2, 2009
Top 10 cities to Earn a Living
The best cities to earn a living are those that have plenty of companies doing business in high-paying, growth industries.
Combine that with a high-quality business environment, job growth, and a low cost of living and you get a select-few locations where the pay check is generous and the cost of necessities like food and housing is modest.
Here are the top 10 cities where Forbes magazine says this is the economic reality now and the conditions are likely to get even better as health care, technology, and energy draw more employees into their ranks:
1. Dallas
2. Houston
3. Minneapolis
4. Austin, Texas
5. Washington, D.C.
6. St. Louis
7. Seattle
8. Atlanta
9. Kansas City, Mo.
10. Denver
Source: Forbes, Francesca Levy (09/03/2009)
Combine that with a high-quality business environment, job growth, and a low cost of living and you get a select-few locations where the pay check is generous and the cost of necessities like food and housing is modest.
Here are the top 10 cities where Forbes magazine says this is the economic reality now and the conditions are likely to get even better as health care, technology, and energy draw more employees into their ranks:
1. Dallas
2. Houston
3. Minneapolis
4. Austin, Texas
5. Washington, D.C.
6. St. Louis
7. Seattle
8. Atlanta
9. Kansas City, Mo.
10. Denver
Source: Forbes, Francesca Levy (09/03/2009)
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