Deborah Peck

REAL TIPS: Buying a Home

Deborah Peck — Tue, 02 Mar 2010 17:40:00 GMT

Expect the unexpected (and the expected)

The cost of home maintenance and repairs is usually one of the biggest surprises for new homeowners. Unfortunately, some buyers—especially first-time buyers—do not plan for such expenses because they’ve always had a landlord or property owner who deals with problems.

When you’re setting up your budget and trying to determine how much house to buy, make sure to earmark some cash for regular home maintenance. Most times, ignoring a problem will end up costing you more in the long term.

You should also plan for an unanticipated problem to pop up. When your water heater goes out or the plumbing system backs up, you don’t want to be strapped for cash—those things need to be fixed. Fast.

Buying a home is a sound investment—but don’t forget to take care of your purchase … and that means setting aside a little cash each month.

Texas Association of Realtors®

Signs That You're Ready to Buy

Deborah Peck — Sun, 28 Feb 2010 03:24:00 GMT

Six tips that tell you it's time

By Michele Dawson

Figuring out whether you're ready to buy a house -- whether you're a renter or are aiming to move up or size down -- can be a daunting task. But there are signs that will indicate whether you're ready to take the buying plunge. If you are thinking about buying, you're not alone. So are you ready to make the move? You might be if you:

1. Are familiar with the market. If you've been paying attention to how much houses are listed for in the neighborhoods you're eyeing and have a realistic view of how much a house will cost you, you're in good shape. But if you're dreaming about that big corner house with no clue about it's asking price, you may want to spend some more time becoming familiar with the market and how much houses are going for.

2. Have the money for a down payment and closing costs. The down payment is a percentage of the value of the property. Freddie Mac says the percentage will be determined by the type of mortgage you select. Down payments usually range from 3 to 20 percent of the property value. Also, you may be required to have Private Mortgage Insurance (PMI or MI) if your down payment is less than 20 percent. Closing costs include points, taxes, title insurance, financing costs and items that must be prepaid or escrowed and other settlement costs. You can expect to pay between from 2 to 7 percent of the property value. Generally, buyers will receive an estimate of these costs from your lender after you apply for a mortgage.

3. Know how much you can afford. Freddie Mac says that as a general guide, your monthly mortgage payment should be less than or equal to a percentage of your income, usually about a quarter of your gross monthly income. Also, your income, debt and credit history go into determining how much you can borrow. As a general rule, your debt -credit card bills, car loans, housing expenses, alimony and child support -- should not be more than about 30 to 40 percent of your gross income.

4. Know what additional expenses will come with owning a home. This includes homeowners insurance, utility bills, maintenance costs -- roofing, plumbing, heating and cooling.

5. Have your credit in good shape and make sure your credit report is accurate. Potential lenders will view your credit history -- how much debt you've accrued, how many accounts you have open, whether your payments are made on time, etc. -- to determine whether they'll give you a loan. You should get a report from each of the three credit reporting companies: Equifax, Experian, and Trans Union.

6. You haven't made any recent major purchases, particularly a vehicle. If you do, you may have a harder time getting a loan -- or it could potentially lower the amount you'll be approved for.

News from Texas Real Estate

Deborah Peck — Tue, 23 Feb 2010 21:02:00 GMT

Just for Texans: Visit our new microsites!

First-time homebuyers, check out TxHomePrograms.com to find out which special programs you may be eligible for.

Existing homeowners, go to KeepMyTexasHome.org if you’re in danger of falling behind on your mortgage payments.

Forget the Forecast, Look out the Window....

Deborah Peck — Sat, 20 Feb 2010 22:29:00 GMT

	Real estate in texas FEB. 12, 2010 Forget the forecast; look out the window By MARTY KRAMER, Consumer columnist
	The weather forecast I saw last Sunday morning showed clouds giving way to a sunny afternoon in the low 50s. Five hours later, while shivering on the sidelines at a flag football game under overcast skies, I wondered how the meteorologists could have been wrong by 20 degrees. And it made me think of real estate. You frequently hear economists and financial experts predict with some measure of confidence what will happen to mortgage rates, housing prices, and home sales. They often hit the mark. Sometimes, though, like with the weather, unpredictable factors render a forecast as helpful as a good old stab in the dark. However, you can remove the guesswork regarding weather or real estate conditions when you observe what’s actually happening now. So, let’s take a look. Interest rates are about as low as they’ve ever been. That translates into a larger loan for the same monthly payment compared to times with higher rates.		In addition to favorable mortgage rates, the federal government will pay you thousands of dollars to buy a home. Most first-time buyers and many current homeowners qualify for a significant tax credit. To take advantage of the credit, you must have a signed contract by April 30 and close on the transaction by June 30. There’s a real incentive for meeting these deadlines. The tax credit is worth up to $8,000 for first timers and $6,500 for existing homeowners. You may be wondering whether the tax-credit will be extended. After all, the deadline has been pushed later once already. You may also want to know if interest rates could go down a little more. I can tell you what most experts I’ve heard say to these questions: probably not. But as I pointed out, the forecasters aren’t always right. Rather than focus on predictions, I recommend you take a peak outside right now. Conditions for purchasing a home before the tax credit expires look positively sunny

Real estate in texas
FEB. 12, 2010

Forget the forecast; look out the window
By MARTY KRAMER, Consumer columnist

The weather forecast I saw last Sunday morning showed clouds giving way to a sunny afternoon in the low 50s. Five hours later, while shivering on the sidelines at a flag football game under overcast skies, I wondered how the meteorologists could have been wrong by 20 degrees. And it made me think of real estate.

You frequently hear economists and financial experts predict with some measure of confidence what will happen to mortgage rates, housing prices, and home sales. They often hit the mark. Sometimes, though, like with the weather, unpredictable factors render a forecast as helpful as a good old stab in the dark.

However, you can remove the guesswork regarding weather or real estate conditions when you observe what’s actually happening now. So, let’s take a look.

Interest rates are about as low as they’ve ever been. That translates into a larger loan for the same monthly payment compared to times with higher rates.

In addition to favorable mortgage rates, the federal government will pay you thousands of dollars to buy a home. Most first-time buyers and many current homeowners qualify for a significant tax credit. To take advantage of the credit, you must have a signed contract by April 30 and close on the transaction by June 30. There’s a real incentive for meeting these deadlines. The tax credit is worth up to $8,000 for first timers and $6,500 for existing homeowners.

You may be wondering whether the tax-credit will be extended. After all, the deadline has been pushed later once already. You may also want to know if interest rates could go down a little more. I can tell you what most experts I’ve heard say to these questions: probably not. But as I pointed out, the forecasters aren’t always right. Rather than focus on predictions, I recommend you take a peak outside right now. Conditions for purchasing a home before the tax credit expires look positively sunny

Texas Real Estate News From the Texas A&M Research Center

Deborah Peck — Fri, 19 Feb 2010 20:13:00 GMT

Just for Texans: Visit our new microsites!

First-time homebuyers, check out TxHomePrograms.com to find out which special programs you may be eligible for.

Existing homeowners, go to KeepMyTexasHome.org if you’re in danger of falling behind on your mortgage payments.

INVESTING IN TEXAS REAL ESTATE

Deborah Peck — Tue, 16 Feb 2010 15:03:00 GMT

	INVESTING IN TEXAS REAL ESTATE JAN. 28, 2010 Some luxury developers await quality investors, buyers By TOM KELLY, INVESTMENT columnist
	Hanging on through difficult economic times means different things to different people. For many families, the phrase means curtailing any non-essential spending, and buckling down to find a way to pay the monthly mortgage or rent. To some builders, hanging on denotes a way to simply break even, whether that may mean deeply discounting all remaining inventory to keep any losses at a minimum. To others, it may represent taking on a second job, in a totally different line of work, simply to feed and clothe loved ones. To a few well-capitalized luxury properties and resorts, hanging on for developers and builders means simply waiting for qualified investors to return to the market, maintaining the status quo, with no price reductions or significant financial incentives. Take for example The Grand Del Mar. It lies in a coastal canyon on 380 acres in north San Diego and is the county’s newest luxury resort property. It features 249 guestrooms (a night in the Manchester presidential suite will cost you $3,500) and eight villas offering 80 fractional ownership opportunities starting at $450,000 for a one-tenth ownership plus an annual fee of $10,500, which includes a membership to the Tom Fazio-designed golf course on the property. The units contain 4,543 to 5,089 square feet and are beautifully appointed and accessorized with anything you could possibly need. But do not ask for a discount or make an offer less than the listing amount. According to the developer, sales thresholds will be reached, regardless of the timeframe. The eight villas in Phase One have 80 possible ownership fractionals and only two 2 have sold in 2009. Four fractional shares sold in 2008. The villas opened in 2007 and spokespersons for the company say that about 40% of the units have been purchased. Manchester Financial Group, the San Diego-based company that acquires, develops, and manages high-profile properties throughout the U.S., is the primary developer of the Villasat The Grand Del Mar. The company employs approximately 3,000 people nationally and controls $2 billion in assets in 11 states. The company’s controversial purchase and redevelopment of the venerable Shore Lodge in McCall, Idaho, was widely criticized before reopening as the Whitetail Club & Resort. The massive Manchester influence includes a towering Hyatt Hotel on San Diego Bay along with national investments in technology, telecommunications, banking, broadcasting, and medical device instrumentation.		Not all developers can hang on like Manchester Financial and wait for the uber-rich second-, third-, or fourth-home buyer or investor who pays cash. Sales of luxury homes, generally defined as the top 10% of a multiple listing association’s residential sales in the past 12 months and never less than $500,000, have been down since the last quarter of 2008, according to the Institute for Luxury Home Marketing. The National Association of REALTORS® reported that the percentage of $750,000 homes sold in 2007 was approximately 4.2% of total homes sold. In 2009, that percentage was down to 2.2. In a capsule, many luxury investors and buyers are feeling less wealthy, according to the Institute’s Laurie Moore-Moore. Many are in an economic crunch while others are on the sidelines waiting for bargains. Financial portfolios have shrunk. Conspicuous consumption (McMansions) is out and quiet luxury is in. While the stock market has showed an impressive run-up lately, it remains to be seen if the upward trend will be sustained. That’s why real estate continues to be an attractive investment for many folks. Just not at these California prices we’ve been talking about. Generally speaking, Texas continues to offer very affordable real estate investments. But back to the national picture. According to the 2009 National Association of REALTORS® Profile of Home Buyers and Sellers, vacation homes (including the upper-end luxury bracket) accounted for 9% of all sales while investment homes were 21% of transactions. There are 8.1 million vacation homes and 40.5 million investment units in the U.S. compared with 75.5 million owner-occupied homes. The survey found the sweet-spot age target for vacation home sales were the 39.2 million people in the U.S. ages 50 to 59 – a group that dominated sales in the first part of this decade. Two other groups, however, are expected to control the second-home market in the coming decade: An additional 44.8 million people are currently in the primary buying demographic of 40 to 49 years old, and another 40.7 million are 30 to 39. I wonder which group will step up and start buying those $450,000 fractionals to rent out to their friends

INVESTING IN TEXAS REAL ESTATE
JAN. 28, 2010

Some luxury developers await quality investors, buyers
By TOM KELLY, INVESTMENT columnist

Hanging on through difficult economic times means different things to different people. For many families, the phrase means curtailing any non-essential spending, and buckling down to find a way to pay the monthly mortgage or rent.

To some builders, hanging on denotes a way to simply break even, whether that may mean deeply discounting all remaining inventory to keep any losses at a minimum. To others, it may represent taking on a second job, in a totally different line of work, simply to feed and clothe loved ones.

To a few well-capitalized luxury properties and resorts, hanging on for developers and builders means simply waiting for qualified investors to return to the market, maintaining the status quo, with no price reductions or significant financial incentives. Take for example The Grand Del Mar. It lies in a coastal canyon on 380 acres in north San Diego and is the county’s newest luxury resort property. It features 249 guestrooms (a night in the Manchester presidential suite will cost you $3,500) and eight villas offering 80 fractional ownership opportunities starting at $450,000 for a one-tenth ownership plus an annual fee of $10,500, which includes a membership to the Tom Fazio-designed golf course on the property. The units contain 4,543 to 5,089 square feet and are beautifully appointed and accessorized with anything you could possibly need.

But do not ask for a discount or make an offer less than the listing amount. According to the developer, sales thresholds will be reached, regardless of the timeframe. The eight villas in Phase One have 80 possible ownership fractionals and only two 2 have sold in 2009. Four fractional shares sold in 2008. The villas opened in 2007 and spokespersons for the company say that about 40% of the units have been purchased.

Manchester Financial Group, the San Diego-based company that acquires, develops, and manages high-profile properties throughout the U.S., is the primary developer of the Villasat The Grand Del Mar. The company employs approximately 3,000 people nationally and controls $2 billion in assets in 11 states. The company’s controversial purchase and redevelopment of the venerable Shore Lodge in McCall, Idaho, was widely criticized before reopening as the Whitetail Club & Resort. The massive Manchester influence includes a towering Hyatt Hotel on San Diego Bay along with national investments in technology, telecommunications, banking, broadcasting, and medical device instrumentation.

Not all developers can hang on like Manchester Financial and wait for the uber-rich second-, third-, or fourth-home buyer or investor who pays cash. Sales of luxury homes, generally defined as the top 10% of a multiple listing association’s residential sales in the past 12 months and never less than $500,000, have been down since the last quarter of 2008, according to the Institute for Luxury Home Marketing. The National Association of REALTORS® reported that the percentage of $750,000 homes sold in 2007 was approximately 4.2% of total homes sold. In 2009, that percentage was down to 2.2.

In a capsule, many luxury investors and buyers are feeling less wealthy, according to the Institute’s Laurie Moore-Moore. Many are in an economic crunch while others are on the sidelines waiting for bargains. Financial portfolios have shrunk. Conspicuous consumption (McMansions) is out and quiet luxury is in. While the stock market has showed an impressive run-up lately, it remains to be seen if the upward trend will be sustained. That’s why real estate continues to be an attractive investment for many folks. Just not at these California prices we’ve been talking about. Generally speaking, Texas continues to offer very affordable real estate investments.

But back to the national picture. According to the 2009 National Association of REALTORS® Profile of Home Buyers and Sellers, vacation homes (including the upper-end luxury bracket) accounted for 9% of all sales while investment homes were 21% of transactions. There are 8.1 million vacation homes and 40.5 million investment units in the U.S. compared with 75.5 million owner-occupied homes.

The survey found the sweet-spot age target for vacation home sales were the 39.2 million people in the U.S. ages 50 to 59 – a group that dominated sales in the first part of this decade. Two other groups, however, are expected to control the second-home market in the coming decade: An additional 44.8 million people are currently in the primary buying demographic of 40 to 49 years old, and another 40.7 million are 30 to 39.

I wonder which group will step up and start buying those $450,000 fractionals to rent out to their friends

Texas homeowners get a break with home equity loans

Deborah Peck — Thu, 11 Feb 2010 17:54:00 GMT

Nationwide, predatory lending is a real problem, not only in first mortgages but also home equity loans. When homeowners obtain home equity loans with bad terms, it can put their homesteads in jeopardy. Consumers see national TV ads stating they can get loans of up to 125% of their home’s equity. These loans strip equity from the property and can make it difficult for homeowners to ever resell. Thankfully, in Texas things are different. In 1997, during the 75th session of the Texas Legislature, the Texas Association of REALTORS® fought hard to pass legislation with more consumer protections than any other home equity lending law in the country. These homeowner protections include:

80% loan-to-value, preserving at least 20% of your equity at all times
3% cap on lender’s fees, protecting you from loan “flipping”
Judicial foreclosure, ensuring homeowners have a venue to appeal a foreclosure

The protections in Texas’ home-equity lending law are constitutional, meaning any changes require a two-thirds vote of the legislature and statewide approval by Texas voters. During each legislative session, Texas REALTORS® oppose efforts by some in the lending community who want to repeal these important consumer protections.

Source: Texas Association of REALTORS®

Texas Quarterly Housing Report

Deborah Peck — Mon, 08 Feb 2010 14:58:00 GMT

REAL ESTATE IN TEXAS
feb. 1, 2010

Sales volume, price up in 2009-Q4

According to data provided by the Real Estate Center at Texas A&M University, Texas’ housing market saw increases in sales volume and price in the fourth quarter of 2009. As reported in the first Texas Quarterly Housing Report, Texas’ sales volume for single-family homes for 2009-Q4 was 53,050, up 16% from the same quarter of 2008. The median home price in Texas also saw increases, from $140,100 in 2008-Q4 to $143,400 in the same quarter of 2009, a 2.35% increase.

“While figures throughout the last quarter of 2009 were positive compared to 2008, they were particularly positive in October and November, which makes it clear that the first-time homebuyer tax credit is having an impact in Texas,” says Jim Gaines, Ph.D., an economist with the Real Estate Center. “The increase in median price also stands out, particularly compared to national figures, which are down substantially.”

Texas also saw a decrease in the number of months of inventory in the market over the quarter, from 6.6 months to 6.5 months. Months inventory is an indicator of the supply of homes for sale in a market relative to the demand for homes. The Real Estate Center typically uses 6.5 months as the benchmark for a balanced market, meaning a reasonable supply of houses is being offered for sale relative to demand on a monthly basis.

“This was the lowest inventory we had all last year,” Gaines says. “There could be two reasons for that. First, Texas did not have major problems with foreclosures compared to other parts of the country, so our market wasn’t flooded with inventory of foreclosed properties. Second, sellers may have been discouraged at local market conditions and chose to either not list their property or take if off the market.”

Bill Jones, chairman of the Texas Association of REALTORS®, commented on the results: “We’re encouraged to see Texas’ real estate market performing well, both in terms of sales volume and price. Our state has been fortunate throughout the economic downturn and it’s encouraging to see that continue with robust results like these.”

One reason the Texas Association of REALTORS® cites for Texas’ strong real estate market is a legislative environment that promotes homeownership. In the last session of the Texas Legislature, Texas REALTORS® advocated to reform the state’s property appraisal system to improve fairness for homeowners. Texas REALTORS® succeeded in requiring appraisal districts to adopt a uniform set of standards for appraisals and supported legislation that strengthened homeowners’ rights against seizure of private property under eminent domain.

Chairman Jones continued, “Homeowners interact with REALTORS® every day, but very few know what the REALTORS® organization does to protect their property rights. From appraisal reform and eminent domain to property tax reduction, Texas REALTORS® are vigilant in ensuring Texas remains a great place to buy and sell a home.”

The economic picture may not look as positive in the future, however. Gaines explained: “Foreclosures in 2008 and 2009 were driven by subprime mortgages, which did not affect Texas as much as other parts of the country. However, a new wave of foreclosures is expected starting in 2010, driven by unemployment among those with prime mortgages. A larger number of these foreclosures will impact Texas.”

“Texas weathered the last few years relatively well, but we’re not out of the woods,” Jones says. “We’re in the midst of election season and Texas REALTORS® are selecting the candidates they support carefully. When lawmakers go back to work in 2011, they’ll face a big budget deficit and tough decisions. As they do, they must remember how important a strong real estate market has been to protecting the livelihoods of Texans. They must also ensure they don’t increase the tax burden homeowners can barely afford now and risk damaging one of our state’s most effective economic drivers.”

About the Texas Quarterly Housing Report
The data for the Texas Quarterly Housing Report is provided by the Real Estate Center at Texas A&M University using statistics compiled from 47 multiple listing services in markets throughout Texas. The report includes data for single-family home sales over the course of one quarter and is scheduled for release by the Texas Association of REALTORS® on the following dates each year (or the next business day): Feb. 1, May 1, Aug. 1, and Nov. 1.

About the Texas Association of REALTORS®
With nearly 90,000 members, the Texas Association of REALTORS® is the largest professional membership association in the state and represents all aspects of real estate in Texas. We advocate on behalf of Texas REALTORS® and private property owners.

Download the report for 2009-Q4 (PDF)

REALTOR® vs. real estate licensee

Deborah Peck — Mon, 01 Feb 2010 15:10:00 GMT

From TexasRealEstate.com

Not every real estate broker or salesperson is a REALTOR®. Here in Texas, membership in the National Association of REALTORS®, the Texas Association of REALTORS®, and one of more than 89 local associations or boards entitles real estate licensees to use the term “REALTOR®” on their business cards and in their marketing materials.

Hiring a Texas REALTOR® means you’ve retained someone who is committed to continuing education, professionalism, and integrity. In addition to upholding the strict REALTOR® Code of Ethics, many Texas REALTORS® hold one or more professional designations—those letters behind our names indicating advanced or specialized training in real estate.

Important issues for Texas homeowners-How to get rid of your PMI

Deborah Peck — Fri, 29 Jan 2010 21:43:00 GMT

Private mortgage insurance (PMI) is required for mortgage loans where the buyer contributes less than 20% of the purchase price as downpayment. Lenders require PMI on most conventional mortgages because there’s a correlation between borrower equity and default.

The less money a borrower has invested in a home, the greater the probability of default. So, PMI is a financial guarantee that protects lenders against loss in the event that a borrower defaults. Without it, the 20% down payment that lenders typically require shuts many potential homebuyers out of the housing market.

PMI not only puts people in homes – it also allows them to buy the homes where they want to live. Consider that two out of five homebuyers who use PMI may not otherwise be able to buy a home, according to the Mortgage Insurance Companies of America, a mortgage industry trade group.

PMI also allows buyers to get more house. With $15,000 down, the most home you can buy while avoiding PMI is a $75,000 home. If you use the $15,000 to put 10% down with an insured loan, you can buy a $150,000 home. Of course, that assumes you’ve got the income to handle the mortgage payment.

Cost of PMI
But there is a cost. PMI certainly helps borrowers get into a home, but it’s darn expensive. Borrowers usually pay a half of one percent of the loan amount per year. On a $100,000 loan, that’s about $500 to $600 to ensure the top $20,000 of the loan you didn’t put down in cash.

And, lenders can charge PMI until you’ve reached 20% in equity. On a $100,000 loan with 10% down ($10,000), PMI might cost you $40 a month. If you can cancel it, you can save $480 a year and many thousands of dollars over the life of the loan. Check your annual escrow account statement or call your lender to find out exactly how much PMI is costing you each year.

With a 30-year fixed-rate loan, it could take up to 15 years to chisel it down until you have 20% equity, unless you’re paying extra on your loan every month. Homeowners can cancel PMI when there’s 20% equity in the home, based on the original property value and provided your mortgage payments are current.

How to get rid of your PMI
The good news is that the Homeowners Protection Act of 1998 (which became effective in 1999) established rules for automatic termination and borrower cancellation of PMI on home mortgages. According to the Federal Trade Commission, these protections apply to certain home mortgages signed on or after July 29, 1999 for the purchase, initial construction, or refinance of a single-family home. (Note: These protections do not apply to government-insured FHA or VA loans or to loans where the lender is paying PMI.)

For home mortgages signed on or after July 29, 1999, your PMI must be terminated automatically when you reach 22% equity in your home based on the original property value, if your mortgage payments are current.

If you signed your mortgage before July 29, 1999, you can ask to have the PMI canceled once you exceed 20% equity in your home. But federal law does not require your lender or mortgage servicer to cancel the insurance, so it’s important to stay on top of it. Here are other points covered by the law:

New borrowers must be told – at closing and once a year – about PMI termination and cancellation.
Mortgage servicers must provide a telephone number for all their mortgage borrowers to call for information about termination and cancellation of PMI.
Even though the law’s termination and cancellation rights do not cover loans that were signed before July 29, 1999, or loans with lender-paid PMI, lenders or mortgage servicers must tell borrowers about the termination or cancellation rights they may otherwise have under those loans (such as rights established by the contract or state law).

Contact your lender or mortgage servicer to learn whether you’re paying PMI. (You can also look on your mortgage-payment stub to see if it’s listed there.) If you are, ask how and when it can be terminated or canceled. For more information, contact the FTC by visiting www.ftc.gov or call toll-free, 877/FTC-HELP (877/382-4357); TTY: 866/653-4261.

Market versus apraised value

Deborah Peck — Thu, 28 Jan 2010 16:23:00 GMT

The appraised value of a property is a professional estimate of a property’s market value. It’s based on the recent sales of similar properties, square footage, location, construction quality, and more. An appraisal varies in cost depending on the price and size of the home. Most lenders require appraisals as part of the loan application process.

But don’t confuse the appraisal with market value. The appraised value is a certified appraiser's opinion of the worth of a home at a given point in time. And it should give you a pretty good idea what your home will sell for. Ultimately, though, your home’s market value is the price a buyer is willing to pay for it. Having your home professionally appraised before putting it on the market will help you and your Texas REALTOR® determine a fair asking price. There are other methods of determining the value of your home, including a comparative market analysis (CMA). A CMA compiles information and sales prices from homes similar to yours from your neighborhood that have sold recently. Many Realtors perform CMAs for clients and potential buyers.

Whether you rely on a CMA, an appraisal, or both, you will be able to price your home according to objective measures rather than a gut feeling or a number plucked from the air.

Texas Association of Realtors®

Are you registered to vote?

Deborah Peck — Wed, 27 Jan 2010 16:25:00 GMT

See this on Facebook and Twitter and spread the word

Are you registered to vote?

Your vote is your voice, and it's critical that Texas REALTORS® let our voices be heard at the polls on March 2. The Texas Legislature faces a monumental budget deficit next session. Legislators will consider many options to generate revenue, including real estate transfer taxes, a sales tax on property, and taxes on commissions.

Cast your vote for state officials who are committed to solutions that don't further burden property owners or hurt the Texas economy. You can only participate in the March 2 primary elections if you're registered to vote by Feb. 1. Register now, and encourage your friends and family to register, too.

Visit TexasRealtors.com for a list of candidates endorsed by the Texas Association of REALTORS® in the March 2 primary election.

Make your voice heard.

New Ownership and Relaunch of Exclusive Texas Hill Country Development Signals Renewed Optimism for Texas Real Estate Market

Deborah Peck — Mon, 25 Jan 2010 16:04:00 GMT

Skywater Over Horseshoe Bay to be Anchored by Jack Nicklaus Signature Golf Course

Press Release Source: Skywater Over Horseshoe Bay On Thursday January 21, 2010, 1:54 pm EST

HORSESHOE BAY, Texas, Jan. 21 /PRNewswire/ -- In a positive sign for the Texas real estate market in general, and the Hill Country region in particular, new owners of Skywater Over Horseshoe Bay are making substantial progress on construction of a Jack Nicklaus Signature Golf Course, which will form the backbone of the 1,618-acre upscale residential community called Skywater Over Horseshoe Bay.

This turn of events follows a bankruptcy filing by a former owner in early 2009 for the development and is a strong indicator of an upturn in the Texas real estate market.

According to economist Ray Perryman of The Perryman Group, "Over the past couple of years, this nation has grown all too familiar with headlining 'bad news,' particularly of the economic nature. However, most economists now agree that the recession is over, and signs are emerging that confirm this pattern. Even so, the economic downturn experienced over the previous almost two years continues to linger as the nation steps out of the worst recession seen in generations towards recovery.

"In Texas, the effects of the recession have been less severe than other states, and recovery is likely to be quicker," Perryman continued. "The Texas economy, somewhat sheltered from the recession from the onset due to a strong energy sector in a time of high oil and natural gas prices as well as a more stable housing market, appears to be leading the way in the recovery showing employment gains above all other states this past month.

"New investment in the state, such as the new ownership of Skywater Over Horseshoe Bay and the construction of a major new golf course, are strong signs that optimism is high for the future of this region of Texas and indeed for the entire state."

A real estate investment group assumed control of Skywater in June 2009. The group, known as SW Ownership LLC, is backed by several well-funded investment firms from Dallas, New York and Connecticut. SW Ownership has engaged Skywater Management, an affiliate of Southstar Development Partners, to develop, market and sell the project through completion. The International Bank of Commerce (IBC) San Antonio is the primary lender for Skywater's relaunch and build-out.

Skywater offers panoramic views of Lake LBJ and the Texas Hill Country, and will feature about 1,200 sites for single-family homes, villas and condominiums.

The Jack Nicklaus Signature Golf Course, called Summit Rock Golf Course, will wind through the community, offering beautiful vistas and dramatic elevation changes to challenge the most seasoned players.

In addition to its on-site golf course and clubhouse, amenities at Skywater will include a private recreation center with a resort-style pool and fitness center and more than seven miles of hiking trails. Skywater lot owners will be offered full membership privileges (with no initiation fees) to the neighboring Horseshoe Bay Resort. The resort has three renowned championship Robert Trent Jones Sr. golf courses, two clubhouses, a fitness center, a spa, a yacht club and full-service marina, extensive tennis facilities, a Marriott hotel, and a private airport and jet center.

Lots range in size from one-third of an acre to eight acres, with prices between $140,000 and $500,000 each. Each of the enclaves will be gated, creating 'neighborhoods within a neighborhood.'

About Skywater Management LLC

Skywater Management LLC is an affiliate of Southstar Development Partners Inc., a firm that has developed communities in the Dallas Metroplex and throughout Florida. The firm's primary activities include the analysis, financing, acquisition, planning and marketing of real estate for both residential and commercial uses. Communities in the Dallas area include The Trails of West Frisco, a master-planned golf course community with a community center and an extensive walking trail system; Pearson Farms, a community with lakes, walking trails and open spaces; and Country Club Ridge, featuring home sites overlooking The Trails Golf Course in Frisco. For more information, visit www.southstardevelopment.com.

Texas By Nature: Conservation benefitting Texas' most pristine river (complete article from source)

Deborah Peck — Fri, 22 Jan 2010 16:28:00 GMT

Source: Oak Hill Gazette, by Jay Harrod
June 10, 2009

The mighty Dolan Falls is the crown jewel of the Conservancy's Devils River conservation work, which to date has helped protect 165,000 acres within the watershed. Photo Â© James King

Far from the waves of development ringing Texas' most populous cities, passing through dramatic limestone canyons with mature riverbottom woodlands and purple sage covered slopes, a radiant river of bright blue spills forth.

Natural springs flowing at 22,000 gallons per minute give birth to the Devils River - considered by many to be the most pristine flowing waters in the state - in Val Verde County. Coursing through a biological crossroads where Hill Country junipers, Chihuahuan Desert ocotillo and spiny South Texas brush blend together, the river runs for only about 45 miles southward before flowing into the Amistad Reservoir along the United States/Mexico border.

"The Devils River is a remarkable slice of the original Texas," said Laura Huffman, state director for the Nature Conservancy of Texas. "Protecting this remarkable river is right in line with the Conservancy's mission to protect our most treasured and biologically rich places for our children and grandchildren."

Along its southerly course, the Devils River and its primary spring-fed tributary, Dolan Creek, provide for a variety of rare desert dwellers, such as the Devils River minnow, a fish unique to this reach of the Rio Grande Basin, while providing extensive and excellent nesting habitat in adjacent shrublands for the endangered black-capped vireo.

Recognizing the river's importance to a variety of species, The Nature Conservancy has worked to protect several historic ranches surrounding the Devils River's headwaters and downstream along the river. In all, the Conservancy has protected lands totaling approximately 165,000 acres within the river basin, including the largest volume continuously flowing waterfall in Texas: Dolan Falls. The Conservancy's Dolan Falls Preserve covers nearly 5,000 acres, while the remainder is protected by conservation easements - voluntary land-use agreements that permanently conserve land.

Fern Cave, a vital maternity cave for as many as 10 million Mexican free-tailed bats, is just one more of the treasures nestled in the Devils River area.

For more information on the Devils River or other Conservancy projects, visit nature.org/texas.

The Secret's Out

Deborah Peck — Thu, 21 Jan 2010 15:56:00 GMT

	Real estate in texas JAN. 18, 2010 The secret’s out By MARTY KRAMER, Consumer columnist
	It’s one of the worst-kept secrets out there: Texas is a great place to live. If you need more proof of this, check out the Allied Van Lines Magnet States Report, which named Texas the top destination state in the U.S. for the fifth straight year. What this means is that Texas had a higher net gain in relocations than any other state. Allied Van Lines defines that as the total number of inbound moves minus the number of outbound moves recorded by their company. What makes Texas such a desirable place to call home? Those who live here enjoy a low cost of living, reasonable housing costs, mild winters (though summers can certainly test a person’s heat tolerance), vibrant cities and towns, abundant natural beauty, no state income tax, a business-friendly environment, a diverse population, and, as Real Estate Center at Texas A&M Chief Economist Mark Dotzour is fond of saying, the best Tex-Mex food on the planet. Certainly, our state has many factors that appeal to a growing number of people.		Just how popular is Texas? The Census Bureau reports that the state grew by nearly 500,000 residents between July 2008 and July 2009. That’s almost as many people as the entire population of Wyoming. Many demographers project the Texas population growth to continue for the next several decades. That certainly bodes well for the prospects of continued economic growth and real estate appreciation. Sustained population expansion also means we will have to find ways to provide adequate housing for all those new people, keep homeownership affordable for lower-income citizens, maintain and build infrastructure, and manage natural resources like water and energy. If we don’t adequately address these issues, the quality of life in our state will decline for all Texans. These aren’t things that take care of themselves. We can all do our part by being involved in our neighborhoods and communities, voting, and letting our local and state officials know that we care about these issues. If we can manage that, we can continue to enjoy living in one of the best spots on Earth … even if our secret is out of the bag.

Real estate in texas
JAN. 18, 2010

The secret’s out
By MARTY KRAMER, Consumer columnist

It’s one of the worst-kept secrets out there: Texas is a great place to live. If you need more proof of this, check out the Allied Van Lines Magnet States Report, which named Texas the top destination state in the U.S. for the fifth straight year.

What this means is that Texas had a higher net gain in relocations than any other state. Allied Van Lines defines that as the total number of inbound moves minus the number of outbound moves recorded by their company.

What makes Texas such a desirable place to call home? Those who live here enjoy a low cost of living, reasonable housing costs, mild winters (though summers can certainly test a person’s heat tolerance), vibrant cities and towns, abundant natural beauty, no state income tax, a business-friendly environment, a diverse population, and, as Real Estate Center at Texas A&M Chief Economist Mark Dotzour is fond of saying, the best Tex-Mex food on the planet. Certainly, our state has many factors that appeal to a growing number of people.

Just how popular is Texas? The Census Bureau reports that the state grew by nearly 500,000 residents between July 2008 and July 2009. That’s almost as many people as the entire population of Wyoming. Many demographers project the Texas population growth to continue for the next several decades. That certainly bodes well for the prospects of continued economic growth and real estate appreciation.

Sustained population expansion also means we will have to find ways to provide adequate housing for all those new people, keep homeownership affordable for lower-income citizens, maintain and build infrastructure, and manage natural resources like water and energy. If we don’t adequately address these issues, the quality of life in our state will decline for all Texans.

These aren’t things that take care of themselves. We can all do our part by being involved in our neighborhoods and communities, voting, and letting our local and state officials know that we care about these issues. If we can manage that, we can continue to enjoy living in one of the best spots on Earth … even if our secret is out of the bag.