TEXAS (Dallas Business Journal) – The Lone Star State has brought in more than $6.5 billion of the $787 billion stimulus package so far, according to the nonprofit organization ProPublica.
Texas ranked 48th on a per-capita basis, spending an average of $269.30 per person. The federal government has spent an average of about $216 per person after allocating more than $121 billion of the stimulus funds.
Three state agencies (the Health and Human Services Commission, Texas Education Agency and the Texas Workforce Commission) have dominated spending of the nearly $3 billion already appropriated by the state.
Harris County leads the state in total spending with $569.5 million. Tarrant and Dallas counties ranked second and third, respectively.
Friday, September 25, 2009
Wednesday, September 23, 2009
RISE IN DFW HOME EQUITY PREDICTED
DALLAS-FORT WORTH (Dallas Morning News) – Prospects are improving for rising home equity in the area, according to a report from the Center for Economic and Policy Research and the National Low Income Housing Coalition.
DFW homeowners could have an average $87,110 in home equity by 2013. That is a $6,000 increase from a similar estimate made in October.
The report's equity outlook is based on purchases of homes priced at 75 percent of the median price. Researchers suggest that positive home equity will be seen in all of Texas' major home markets during the next few years.
Area homeownership and rental costs were also slightly higher than the October estimates. There is now almost no difference in the two costs within the DFW area.
DFW homeowners could have an average $87,110 in home equity by 2013. That is a $6,000 increase from a similar estimate made in October.
The report's equity outlook is based on purchases of homes priced at 75 percent of the median price. Researchers suggest that positive home equity will be seen in all of Texas' major home markets during the next few years.
Area homeownership and rental costs were also slightly higher than the October estimates. There is now almost no difference in the two costs within the DFW area.
Monday, September 21, 2009
CENTEX, PULTE MERGER APPROVED
DALLAS (Dallas Business Journal) – Shareholders for homebuilders Centex Corp. and Pulte Homes Inc. have approved a merger of the two companies.
Michigan-based Pulte will acquire Dallas-based Centex, according to a source who attended the shareholders' vote on Tuesday. Pulte shareholders will own 68 percent of the merged company; Centex shareholders will own 32 percent.
According to research done by the Dallas Business Journal, Centex was the largest homebuilder in North Texas in 2007, with 2,170 housing starts. The company dropped to third last year, with 881 housing starts.
Pulte Homes of Texas ranked 12th in the Dallas–Fort Worth area in 2007, with 664 North Texas housing starts. That number fell to 495 in 2008, putting it at No. 11 that year.
Michigan-based Pulte will acquire Dallas-based Centex, according to a source who attended the shareholders' vote on Tuesday. Pulte shareholders will own 68 percent of the merged company; Centex shareholders will own 32 percent.
According to research done by the Dallas Business Journal, Centex was the largest homebuilder in North Texas in 2007, with 2,170 housing starts. The company dropped to third last year, with 881 housing starts.
Pulte Homes of Texas ranked 12th in the Dallas–Fort Worth area in 2007, with 664 North Texas housing starts. That number fell to 495 in 2008, putting it at No. 11 that year.
Friday, September 18, 2009
EVEN JOB GROWTH BIGGER IN TEXAS
Six Texas counties have made CNNMoney.com's list of the nation's top 25 best counties for job growth from 2000 to 2008. At number two, Rockwall County led Texas with 84.9 percent job growth for the eight-year period.
2. Rockwall at 84.9%
6. Fort Bend at 61.3%
14. Williamson at 53.2%
15. Collin at 52.7%
22. Hidalgo at 50.6%
24. Webb at 49.2%
Arizona's Pinal County posted the nation's highest job growth rate at 95.9 percent.
2. Rockwall at 84.9%
6. Fort Bend at 61.3%
14. Williamson at 53.2%
15. Collin at 52.7%
22. Hidalgo at 50.6%
24. Webb at 49.2%
Arizona's Pinal County posted the nation's highest job growth rate at 95.9 percent.
Wednesday, September 16, 2009
Affordability is Here Again!
According to the latest NAHB/Wells Fargo Housing Opportunity Index (HOI) released show nationwide housing affordability during the second quarter of 2009 continued to hover near its highest level since the series began 18 years ago.
Here are additional excerpts from the HOI:
"The increase in affordability, along with the $8,000 federal tax credit for home buyers, is stimulating demand, particularly among young, first-time buyers," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "But to keep the recent upturn in home sales going into next year, Congress will need to extend the tax credit for another year and make it available to all buyers in an effort to encourage activity in the trade-up market."
Here are additional excerpts from the HOI:
"The increase in affordability, along with the $8,000 federal tax credit for home buyers, is stimulating demand, particularly among young, first-time buyers," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "But to keep the recent upturn in home sales going into next year, Congress will need to extend the tax credit for another year and make it available to all buyers in an effort to encourage activity in the trade-up market."
Monday, September 14, 2009
DFW Homes Prices Flat in 2Q
Wednesday, August 12, 2009
By STEVE BROWN / The Dallas Morning News
If you're looking for a glimmer of hope in the Dallas-Fort Worth home market, the latest industry survey provides one. D-FW home sales prices were basically flat in the second quarter after a long string of declines, according to the National Association of Realtors' closely watched nationwide survey.
The median price of homes sold in North Texas was down just 0.2 percent from a year earlier in the Realtors' secondquarter survey released Wednesday. Nationwide, home prices fell by a record 15.6 percent during the same period. "The sharpest price declines continue to be concentrated in metros with high levels of foreclosures, including areas in California, Florida, Arizona and Nevada, where distressed homes comprise many of the transactions," Realtor economist Lawrence Yun said in the report.
The D-FW price drop, the smallest in more than a year, follows a drop of close to 5 percent in the first-quarter Realtors' report. Texas cities fared better than many others, with median home sale prices up 2.6 percent in Houston and up 11 percent in Beaumont-Port Arthur.
The Realtors' report reaffirms other recent housing industry data that suggest the North Texas home market is flattening.
"We are beginning to see some more positive trends in the housing market, which is great news," said David Brown, who heads the Dallas office of housing analyst Metrostudy Inc.
"Although it is a short trend, both the new home and resale closings during the last quarter suggest the market is bottoming out in sales volume.
"If the current sales trend holds and inventory continues to fall through the remainder of this year, it will become clearer that we are at the bottom in the market." Other reports
Earlier this week, the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems Inc. reported that median home sales prices in North Texas were up 3 percent in July from a year ago. And through the first seven months of 2009, median single-family home sale prices through the Realtors' local Multiple Listing Service were down 1 percent from the same period of 2008.
Prices were down 3 percent for all of 2008. The D-FW area has had one of the smallest overall home price declines of any major U.S. market during the last two years. Analysts attribute the better home price performance here to the fact that North Texas didn't have a big run-up in residential values a few years ago like most other cities.
Economists anticipate that the D-FW market will be one of the first in the country to rebound.
"Yes, it appears to me that we are at the bottom of the housing market in most Texas cities at this point," said Dr. Mark Dotzour, chief economist at the Real Estate Center at Texas A&M.
The slowdown in homebuilding and very low mortgage rates have both helped the local housing market, Dotzour said. "I feel that now is the time to buy a house in most all Texas cities," he said. "Housing affordability has never been higher than it is right now.
"When the economy starts to rebound nationally, mortgage rates will surely move higher."
EXISTING-HOME PRICE CHANGES
Home prices in the Dallas-Fort Worth area were down 0.2 percent in the second quarter of 2009 compared with a record 15.6 percent nationwide decline. Median home price for each city for second quarter of 2009 and the percentage change from the same quarter of previous year.
BIGGEST INCREASES
Davenport, Iowa $113,200 30.6%
Cumberland, Md. $123,500 21.7%
Elmira, N.Y. $85,000 11.3%
LARGEST DECLINES
Fort Myers-Cape Coral, Fla. $84,000 -52.8%
Las Vegas $141,800 -39.7%
Riverside, Calif. $161,500 -39.1%
U.S. Median $174,100 -15.6%
TEXAS CITIES
Amarillo $127,300 2.2%
Austin $194,000 -0.1%
Beaumont-Port Arthur $138,600 11.0%
Corpus Christi $133,400 -7.6%
Dallas-Fort Worth $150,700 -0.2%
El Paso $131,800 -4.3%
Houston $157,400 2.6%
San Antonio $153,100 -3.2%
SOURCE: National Association of Realtors
By STEVE BROWN / The Dallas Morning News
If you're looking for a glimmer of hope in the Dallas-Fort Worth home market, the latest industry survey provides one. D-FW home sales prices were basically flat in the second quarter after a long string of declines, according to the National Association of Realtors' closely watched nationwide survey.
The median price of homes sold in North Texas was down just 0.2 percent from a year earlier in the Realtors' secondquarter survey released Wednesday. Nationwide, home prices fell by a record 15.6 percent during the same period. "The sharpest price declines continue to be concentrated in metros with high levels of foreclosures, including areas in California, Florida, Arizona and Nevada, where distressed homes comprise many of the transactions," Realtor economist Lawrence Yun said in the report.
The D-FW price drop, the smallest in more than a year, follows a drop of close to 5 percent in the first-quarter Realtors' report. Texas cities fared better than many others, with median home sale prices up 2.6 percent in Houston and up 11 percent in Beaumont-Port Arthur.
The Realtors' report reaffirms other recent housing industry data that suggest the North Texas home market is flattening.
"We are beginning to see some more positive trends in the housing market, which is great news," said David Brown, who heads the Dallas office of housing analyst Metrostudy Inc.
"Although it is a short trend, both the new home and resale closings during the last quarter suggest the market is bottoming out in sales volume.
"If the current sales trend holds and inventory continues to fall through the remainder of this year, it will become clearer that we are at the bottom in the market." Other reports
Earlier this week, the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems Inc. reported that median home sales prices in North Texas were up 3 percent in July from a year ago. And through the first seven months of 2009, median single-family home sale prices through the Realtors' local Multiple Listing Service were down 1 percent from the same period of 2008.
Prices were down 3 percent for all of 2008. The D-FW area has had one of the smallest overall home price declines of any major U.S. market during the last two years. Analysts attribute the better home price performance here to the fact that North Texas didn't have a big run-up in residential values a few years ago like most other cities.
Economists anticipate that the D-FW market will be one of the first in the country to rebound.
"Yes, it appears to me that we are at the bottom of the housing market in most Texas cities at this point," said Dr. Mark Dotzour, chief economist at the Real Estate Center at Texas A&M.
The slowdown in homebuilding and very low mortgage rates have both helped the local housing market, Dotzour said. "I feel that now is the time to buy a house in most all Texas cities," he said. "Housing affordability has never been higher than it is right now.
"When the economy starts to rebound nationally, mortgage rates will surely move higher."
EXISTING-HOME PRICE CHANGES
Home prices in the Dallas-Fort Worth area were down 0.2 percent in the second quarter of 2009 compared with a record 15.6 percent nationwide decline. Median home price for each city for second quarter of 2009 and the percentage change from the same quarter of previous year.
BIGGEST INCREASES
Davenport, Iowa $113,200 30.6%
Cumberland, Md. $123,500 21.7%
Elmira, N.Y. $85,000 11.3%
LARGEST DECLINES
Fort Myers-Cape Coral, Fla. $84,000 -52.8%
Las Vegas $141,800 -39.7%
Riverside, Calif. $161,500 -39.1%
U.S. Median $174,100 -15.6%
TEXAS CITIES
Amarillo $127,300 2.2%
Austin $194,000 -0.1%
Beaumont-Port Arthur $138,600 11.0%
Corpus Christi $133,400 -7.6%
Dallas-Fort Worth $150,700 -0.2%
El Paso $131,800 -4.3%
Houston $157,400 2.6%
San Antonio $153,100 -3.2%
SOURCE: National Association of Realtors
Friday, September 11, 2009
Home Maintenance Tip
Conserve Water and Reduce Pocketbook Pressure!
You may love the forceful flow of water at your faucets, showerheads and toilets, but did you know that installing low-flow aerators could cut your annual water consumption by more than half? You can also conserve water and save money on your water bill just by adopting a few new habits:
- While waiting for water to warm up, catch excess water in a bowl or bucket and use for houseplants or pets
- Only run the dishwasher when it is fully loaded
- Instead of using the in-sink garbage disposal, compost your food scraps
- Simply cutting your shower by 2 minutes will save 1,000 gallons a year!
- Turn off the water while you brush your teeth, shave, and while you lather up when washing your hands.
Wednesday, September 9, 2009
Seven easy steps to build your Twitter-sphere...
Use these tips to help you gain genuine Twitter followers, increase your popularity and in return, your business.
1. Tweet often and interesting content. If it looks like you’re never on, or all your tweets seem to be mini sales pitches, you will not gain Twitter followers.
2. Follow more people. There are a lot of tools to help you find people who have common interests such as Twitter Search and Find People.
3. Make your Tweets interesting. Tweet neat facts or link to interesting blogs, articles and Websites you come across.
4. Let more people know that you are on Twitter. Add a link to your feed on your email signature or link to your Website and blog.
5. Upload a profile photo or logo. There are many people who will not follow or allow followers who do not have a photo. Having a picture or logo makes you look more legitimate.
6. Contribute to your feed as a personality, not just as a business.
7. Engage in conversations on Twitter. Direct Message (D) people, @ reply people, re-tweet (RT) interesting tweets, and participate in hashtag (#) topics.
Follow Keller Williams Realty on Twitter: www.twitter.com/kwri.
1. Tweet often and interesting content. If it looks like you’re never on, or all your tweets seem to be mini sales pitches, you will not gain Twitter followers.
2. Follow more people. There are a lot of tools to help you find people who have common interests such as Twitter Search and Find People.
3. Make your Tweets interesting. Tweet neat facts or link to interesting blogs, articles and Websites you come across.
4. Let more people know that you are on Twitter. Add a link to your feed on your email signature or link to your Website and blog.
5. Upload a profile photo or logo. There are many people who will not follow or allow followers who do not have a photo. Having a picture or logo makes you look more legitimate.
6. Contribute to your feed as a personality, not just as a business.
7. Engage in conversations on Twitter. Direct Message (D) people, @ reply people, re-tweet (RT) interesting tweets, and participate in hashtag (#) topics.
Follow Keller Williams Realty on Twitter: www.twitter.com/kwri.
Monday, September 7, 2009
Home Sales Tick Up
Last week, The National Association of REALTORS® reported that existing home sales – which include single-family, townhomes, condominiums and co-ops – increased 3.6 percent to a seasonally adjusted annual rate of 4.89 million units in June.
This is third consecutive month that NAR has reported an increase in existing home sales. Lawrence Yun, NAR’s chief economist, added that “We expect a gradual uptrend in sales to continue due to tax-credit incentives and historically high affordability conditions.”
*Source: http://www.realtor.org/RMODaily.nsf/pages/News2009072301?OpenDocument
This is third consecutive month that NAR has reported an increase in existing home sales. Lawrence Yun, NAR’s chief economist, added that “We expect a gradual uptrend in sales to continue due to tax-credit incentives and historically high affordability conditions.”
*Source: http://www.realtor.org/RMODaily.nsf/pages/News2009072301?OpenDocument
Friday, September 4, 2009
Keller Williams comes out on top
Congratulations! The Wall Street Journal / LORE Top 400* survey results were just released and once again Keller Williams Realty illustrated why we are continuing to outpace the industry. The report breaks down categories and rankings by individual agents and teams.
In 2009, Keller Williams Realty had:
Six additional associates ranked among the top 50 agents by transaction sides.
1,048 percent more transactions from the year before compared to an average increase of 31 percent for Century 21, Coldwell Banker, Prudential and REMAX combined.
Among the top 50 teams for total sides:
Keller Williams ranked second with 11 teams.
Those 11 teams had an impressive increase of 25 percent in transaction sides from the year before.
Keller Williams was the only company that posted an increase for two years in a row.
*The list is based on a survey of independently verified submissions to determine the top real estate professionals in the United States. REAL Trends states that it is the only independent study of its kind.
In 2009, Keller Williams Realty had:
Six additional associates ranked among the top 50 agents by transaction sides.
1,048 percent more transactions from the year before compared to an average increase of 31 percent for Century 21, Coldwell Banker, Prudential and REMAX combined.
Among the top 50 teams for total sides:
Keller Williams ranked second with 11 teams.
Those 11 teams had an impressive increase of 25 percent in transaction sides from the year before.
Keller Williams was the only company that posted an increase for two years in a row.
*The list is based on a survey of independently verified submissions to determine the top real estate professionals in the United States. REAL Trends states that it is the only independent study of its kind.
Wednesday, September 2, 2009
How to get tough in a tight market
During an interview with Michael Krisa host of ThatInterviewGuy.com, Eric Thomas of the Mid-Upper Cape Cod market center, shared his insights on what to do when the market gets tough.
His first piece of advice: Read SHIFT: How Top Real Estate Agents Tackle Tough Times; then he says, “Get back to the basics.”
Watch the short video clip on ThatInterviewGuy.com
His first piece of advice: Read SHIFT: How Top Real Estate Agents Tackle Tough Times; then he says, “Get back to the basics.”
Watch the short video clip on ThatInterviewGuy.com
Subscribe to:
Posts (Atom)