Posted by: gardnergroup in Job Market, General on
Jun 16, 2009
from the Austin Business Journal Austin is the best city in America to get a fresh start, according to a new report from  Relocation.com. The online moving service company ranked Austin No. 1 on its list of the best cities to start over and seek out new economic opportunities. Relocation.com used the following elements to create its list: city "popularity" based on consumer requests for moving quotes to move to that city; economic-growth prospects; home affordability; and the strength of a community as reflected by volunteerism rates. The top cities following Austin, in order, are Dallas; Charlotte, N.C.; Denver; Columbus, Ohio; Indianapolis; and Washington, D.C.; Atlanta; Oklahoma City, Okla.; and a three-way tie for 10th place between Houston, Seattle and Las Vegas. "Studies have shown that many people don't like where they live," said Sharon Asher, chairman and founder of Relocation.com. "At the same time, a lot of people are looking for work, whether they're unemployed now or fearing layoffs. It's a scary time, but for some it might be a good time to think about starting over." The full list and more details are available on the company's Web site.
AMERICAN-STATESMAN STAFF
Thursday, June 04, 2009 The Austin area had the nation's strongest job market among big cities last month, according to data released last Wednesday by the Bureau of Labor Statistics. Among the 38 metro areas with a work force of at least 750,000, only Austin gained jobs from April 2008 to April 2009, the bureau said. It was the third month in a row Austin had earned that distinction. Austin added 3,400 jobs in that period, a 0.4 percent gain that brought the regional job count to 781,400. In January, Austin, Houston and San Antonio were the only large metro areas that had more jobs than a year earlier. But Houston and San Antonio have been losing jobs since then. Austin's job picture isn't all rosy: The area has been losing manufacturing and construction jobs at an accelerating pace, but those losses are being offset by gains in government, retailing and services fields. Central Texas is holding up better in the recession than other technology hubs. In April, the Silicon Valley area lost jobs at a 4.4 percent annual rate. Portland, Ore., was down 4.7 percent, Seattle was down 3.4 percent, and Raleigh, N.C., was down 3.3 percent. Some smaller cities also racked up gains, including Midland, up 2.2 percent, and Odessa, up 2.9 percent.
Posted by: gardnergroup in Property Value, General on
Jun 11, 2009
By Luke Mullins Luke Mullins - Tue Jun 9, 9:53 am ET With the decade winding to a close, Americans have grown increasingly reluctant to gas up their moving vans. Last year, the Census Bureau's national mover rate--which represents the percentage of Americans 1 year and older who moved within the past year--hit its lowest level since 1948, when the bureau began tracking the data. And who can blame us? In the face of a terrifying banking crisis, a historic housing crash, and a grueling recession, relocating to a new city isn't exactly on the to-do list. But despite the uncertain economy, the nation's diverse topography presents an enviable menu of great places to find work, retire, or just change your scene. In selecting our Best Places to Live for 2009, U.S. News took a thrift-conscious approach: We looked for affordable communities that have strong economies and plenty of fun things to do. The cities we selected are as distinct as America itself--ranging from a quaint suburb to a live-music mecca. But whether you prefer hiking through the Rocky Mountains, pulling a fish out of the Atlantic Ocean, or grilling hot dogs at a college football tailgate, here are 10 places that will fill up your daybook without emptying your wallet. Albuquerque, New Mexico Along the banks of the Rio Grande, with the Sandia Mountains in the background, is the beautiful city of Albuquerque, N.M. The sunny climate and endless landscape have long drawn writers, poets, and artists to this spot, which includes an unconventional mix of American Indian, Hispanic, and Anglo cultures. But it's not just freethinkers who drift to this Southwestern city of 511,000. Kirtland Air Force Base, Sandia National Laboratories, and Intel Corp. have helped develop the area into a manufacturing and research hub. They provide a stable anchor for the local economy. Albuquerque's clear skies, calm winds, and abundant sunshine present plenty of opportunities to explore its natural splendor. Each October, the Albuquerque International Balloon Fiesta fills the sky with more than 700 colorful hot-air balloons. Fourteen area golf courses are open year-round and allow duffers to tee off against spectacular backdrops of volcanoes and mountain peaks. Meanwhile, Albuquerque's foothills and network of trails make the area a wonderful destination for biking. Still, "it's kind of undiscovered at the same time," says Will McConnell of the Albuquerque Bicycle Center. Auburn, Alabama For Southern charm with collegiate vigor, consider Auburn, Ala. This diamond on the eastern Alabama plains has a population of just under 50,000 and is home to Auburn University. On football Saturdays, when die-hard fans arrive in droves to cheer their beloved Tigers, Auburn swells to the state's fifth-most-populous city. And as Auburn's largest employer, the university also plays a starring role in the local economy. With mild winters and hot summers, the city offers no shortage of outdoor recreation opportunities. Find a nice hiking trail in the 696-acre Chewacla State Park before cooling off with an afternoon swim. Take a stroll through the Donald E. Davis Arboretum, located on the Auburn University campus. Golfers can head to nearby Grand National golf course and wend their way through the state along the beautiful Robert Trent Jones Golf Trail. "Once you have been there, you just want to come back," says John Cannon, president of SunBelt Golf Corp., which manages the trail. Austin, Texas If you're a free spirit, music junkie, or barbecue lover--or if you simply have what it takes to "keep Austin weird"--Texas's state capital is for you. Considered ground zero for live music, this city of 716,000 residents is home to legions of musicians and nearly 200 performance venues. In addition, Austin hosts the always popular South by Southwest festival. Since its inception in 1987, the event has mushroomed from a local gathering to a 1,800-band, 80-stage extravaganza of music, filmmaking, and interactive activities featuring performers from all over the world. Austin is also a high-tech hub, with companies like Dell and IBM, which employ thousands of residents. The city's warm climate offers plenty of sunshine, while the open green spaces don't provide any excuse for staying indoors. Head over to Lions Municipal Golf Course for an inexpensive round. Wander through the 351-acre Zilker Metropolitan Park until you find Barton Springs Pool, a 3-acre water source fed by underground springs that keep its temperature around 68 degrees all year long. To escape the city, head for the nearby Hill Country. "It's rolling hills cut with lots of little creeks and streams," says Tom Beach, a sales clerk at Austin Canoe & Kayak. "It makes for a nice road trip." Boise, Idaho Although often overlooked, Boise, Idaho, is a terrific destination for those looking to escape out West. With a high-desert climate of sunshine, clear skies, and four distinct seasons, this city of 200,000 makes a perfect base camp for exploring southwest Idaho's dramatic panorama. Choose from the many nearby parks, which total some 2,700 acres, cast a fishing line into the Boise River, or head over to Boise State University for a Broncos football game. High-tech companies Micron Technology and Hewlett-Packard are among the area's leading private employers. To hit the thriving local arts scene, cruise downtown. Boise's free "Alive After Five" concert series brings musicians and other entertainers to the Grove Plaza each Wednesday during the summer. "It's harder to find a parking space after 5 than it is before 5," says Paul Hiller, the executive director of the Boise Valley Economic Partnership. "It's one of the most vibrant downtown areas you've ever seen." Durham, North Carolina Once a tobacco town, Durham, N.C., has evolved into a world-class center of all things advanced. This city of 206,000, located halfway between the Atlantic coast and the Great Smoky Mountains, is called the "City of Medicine" because of its expansive healthcare industry. And although widely known as the home of prestigious Duke University, it's also a thriving technology hub. At the same time, Durham's mild climate allows residents to get out and explore the region's abundant outdoor attractions. Consider hiking one of the many distinct trails and greenways or heading over to the Durham Bulls Athletic Park for an afternoon baseball game. La Crosse, Wisconsin With a population of about 50,000, La Crosse, Wis., is a great staging ground for exploring the natural wonders of the upper Mississippi River area. Although winters can be bitterly cold, friendly Midwesterners and the nearby ski slopes will keep your spirits high. The spring opens an active outdoor culture of camping, hiking, hunting, and fishing that brings more than a million visitors to the area each year. Explore the mighty Mississippi on a riverboat tour, or try your luck with the northern pike in Lake Onalaska. "Great people, fun town," says Dave Lueck, a 36-year-old graduate student at the University of Wisconsin-La Crosse. "It's not too big, not too small." And with a 2008 median home sale price of $113,000, it's also an affordable destination. Loveland, Colorado Located just outside the breathtaking Rocky Mountain National Park, Loveland, Colo., is considered the "Gateway to the Rockies." But while it has 27 public parks and nearly 16 miles of recreation trails, it's Loveland's affection for man-made beauty that sets this community of 56,000 residents apart. Thanks to its Art in Public Places program, more than 300 pieces of sculpture and two-dimensional works are on display throughout the community. And with a 2008 median home sale price of $186,000, the area's real estate market is relatively affordable. Loveland has also achieved acclaim for its Valentine remailing program, in which 200,000 cards are sent to the city to receive a special cachet stamp. "We've got a waiting list of over 50 people that are waiting to be stampers," says Kathryn Roth of the Loveland Chamber of Commerce. San Luis Obispo, California Tucked into California's sweeping Central Coast region is lovely San Luis Obispo, Calif. Its warm, gentle climate, with temperatures rarely surpassing 90 degrees, is perfect for hitting nearby beaches or touring local vineyards. In addition, California Polytechnic State University, which is located in town, infuses the community with intellectual energy. Although area home prices have fallen by as much as 35 percent over the past two years, the national housing bust may have also created another reason to make San Luis Obispo your home, says John Day, a local real estate broker. "There are just plain good deals" in the current market, he says. St. Augustine, Florida As the nation's longest continually inhabited European-founded city, St. Augustine, Fla., considers itself the oldest city in the United States. Founded in 1565 by Spanish Adm. Pedro Menéndez de Avilés, this community of 13,000 residents on Florida's northeastern coast has managed to maintain its colonial charm. Take the Castillo de San Marcos, for example. This remarkable stone-and-mortar fort is located right in the heart of St. Augustine's cobblestoned historic district. And even though 300 years of violent storms and enemy firepower couldn't penetrate its walls, visitors can enter the 20.5-acre monument site today for just $6. But St. Augustine's appeal extends beyond the history books. With a highly educated workforce, world-class golfing nearby--the immaculate TPC Sawgrass course is located just up the road--and that refreshing Atlantic breeze, this "ancient city" offers enough activities to satisfy even the most fanatical outdoor sports enthusiast. "Fishing, kayaking, boating--we have just about everything," says Donald Edwards, a clerk at the Avid Angler fishing shop. "I wouldn't live anywhere else." Upper St. Clair, Pennsylvania For a quiet residential option, consider Upper St. Clair, Pa. This quaint town of fewer than 20,000 residents is located in the hilly woodlands outside Pittsburgh, where the Whiskey Rebellion of the late 1700s was centered. The median home price of this family-oriented community was $240,000 in 2008. And its school system is superb: Ninety-eight percent of its high school graduates go on to college, and the Upper St. Clair school district currently boasts 10 federal government blue-ribbon "Excellence in Education" awards. After the spring thaw, residents head outside to enjoy the region's abundant greenery. "Pennsylvania is a fairly robust and rich place in terms of resources, if you just look a little bit," says Ed Di Gangi, the president of the Upper St. Clair Fly Fishing Club. In addition to fishing, popular outdoor activities include hiking, cycling, golf, and bocce. And with Pittsburgh about 10 miles away, residents of this small town are never too far removed from big-city comforts. "From here to a Pirates [baseball] game or here to a Penguins [hockey] game, it's 30 minutes or less," Di Gangi says. Here's our list of the 10 best places to live: 1. Albuquerque, N.M. 2. Auburn, Ala. 3. Austin, Texas 4. Boise, Idaho 5. Durham, N.C. 6. La Crosse, Wis. 7. Loveland, Colo. 8. San Luis Obispo, Calif. 9. St. Augustine, Fla. 10. Upper St. Clair, Pa. Consider this list a springboard to get you thinking about the qualities you're looking for in a Best Places to Live list of your own.
Posted by: gardnergroup in Untagged on
Jun 11, 2009
bizjournals - June 1, 2009 by G. Scott Thomas Projecting population growth is as much an art as a science - and often an inexact art at that. But it still offers an interesting, useful and provocative view of the future. That's why bizjournals is issuing its own population projections for the nation's 250 largest metropolitan areas, looking as far ahead as 2025. Bizjournals analyzed recent county-by-county growth patterns within each state, and then used that information to predict metropolitan growth at five-year intervals between 2005 and 2025. No one can foresee all of the economic twists and demographic turns that the coming two decades will bring, but bizjournals' projections suggest a range of intriguing possibilities. Here are 10 of particular interest: 1. New York City will retain first place by a comfortable margin. The nation's largest metropolitan area is the 23-county New York City region, which spills over into Long Island, New Jersey and Pennsylvania. It had 18.8 million residents in 2005, according to U.S. Census Bureau estimates. No. 2 Los Angeles was far behind at 12.8 million. Los Angeles is growing more rapidly than New York, but not fast enough to close the gap appreciably. The two giants will still be separated by 5.8 million people in 2025, when New York has 19.8 million residents and Los Angeles has a shade more than 14 million. 2. Houston and Atlanta will climb into the top six. Houston was the nation's seventh-largest metro in 2005, and Atlanta was No. 9. Both will be moving higher in coming years. Houston is projected to shoot up to fifth place by 2025, adding almost 2.6 million people to reach a population of nearly 7.9 million. Atlanta is ticketed for sixth place at 7.3 million. The top four metros, by the way, will maintain precisely the same order over the 20-year period: New York, Los Angeles, Chicago and Dallas-Fort Worth. 3. Detroit will drop out of the top 10, with Phoenix replacing it. Detroit and Phoenix are two of the most economically troubled areas in America today, but their future prospects are considerably different. Detroit is the only metro expected to slip from the top 10 during the next two decades. It's projected to fall from 10th place in 2005 to 14th place in 2025, losing 59,500 residents during that span. Phoenix, on the other hand, is likely to bounce back strongly from its current problems. Its projected 2025 population of 6.9 million will elevate it to seventh place, up from 13th in 2005. 4. Raleigh will set the fastest pace of any metropolitan area. The three-county Raleigh metro will virtually double its population during the study period. It had 953,000 residents in 2005, but should be closing in on 1.9 million by 2025. That's an increase of 97.7 percent in 20 years, which equals an annual growth rate of 3.5 percent. No other metro will expand as rapidly. Five other areas are projected to increase their populations by more than 80 percent between 2005 and 2025. They are, in order of growth rate, Provo, Utah; Cape Coral-Fort Myers, Fla.; Ocala, Fla.; Austin; and Port St. Lucie, Fla. 5. Eighteen areas are expected to lose at least 5 percent of their current populations. The biggest declines are projected for two metros along the Gulf of Mexico - Gulfport, Miss., down 23 percent, and New Orleans, down 19.3 percent. Both areas were devastated by Hurricanes Katrina and Rita in 2005. That damage affected their projection formulas, which were based on population trends from the past decade. It remains to be seen if the two metros will suffer long-term drops or will eventually recover from their short-term losses. Most of the other projected decliners are industrial metros with fading manufacturing sectors, such as Youngstown, Ohio (down 15.6 percent between 2005 and 2025), Buffalo (down 9.7 percent) and Cleveland (down 8.9 percent). 6. Seven metros currently in the top 50 will climb at least five places, led by Austin. Raleigh barely missed the top 50 in 2005, ranking 51st in metropolitan population. It's projected to reach 38th place by 2025. Austin is the only top 50 market that will match Raleigh's upward mobility during the 20-year span, climbing 13 notches from 38th to 25th. The runners-up among the top 50 will be Las Vegas and Charlotte, rising 10 places to 22nd and 27th respectively. Orlando will improve by nine places, and Jacksonville, Nashville and Phoenix will gain six each. 7. Cleveland will fall the farthest of any metro currently in the top 50. Cleveland, with more than 2.1 million residents, ranked a respectable 23rd in 2005. But the long-range outlook is gloomy. Cleveland is projected to lose 189,000 people by 2025, pushing its total down to 1.93 million. It will consequently plummet 14 places to 37th in the national standings. Other major drops will be suffered by New Orleans (down 12 places), Pittsburgh (down 10), Buffalo (down eight) and Rochester, N.Y. (down seven). 8. Eight metros will join the million-plus club between 2005 and 2025. Two have already crossed the line, with Raleigh's population reaching 1 million in November 2006 and Tucson following suit in September 2008. Next up is Fresno, Calif., which is projected to hit seven figures in April 2015. It will be followed by Bakersfield, Calif.; Cape Coral-Fort Myers, Fla.; McAllen-Edinburg, Texas; Albuquerque; and Tulsa. The latter is expected to hit 1 million in July 2025, just a few days after its projected July 1 population of 999,753. 9. A few others will reach higher population milestones. Ten metros are projected to pass the 2 million mark during the 2005-2025 period. Four areas will top 3 million, and three apiece will zip past the 4 million or 5 million thresholds. Chicago will reach the most dramatic milestone of all in February 2020, when it hits 10 million, joining New York and Los Angeles as the only metros with eight-figure populations. 10. Some smaller places will move rapidly up the charts. Gainesville, Ga., and Ocala, Fla., will never be mistaken for major metropolitan areas. They collectively had just 466,000 residents in 2005, and they'll remain well short of a million by 2025. But both will make considerable progress in the population standings, climbing 50 places in 20 years. Ocala will jump from 151st place in 2005 to 101st in 2025, and Gainesville will soar from 233rd to 183rd. Five other areas will gain at least 40 positions: Kennewick, Wash.; Myrtle Beach, S.C.; Port St. Lucie, Fla.; and Prescott and Yuma, Ariz. All contents of this site © American City Business Journals Inc. All rights reserved. Population projections
Volume 31, Number 9 of The Neal Spelce Austin Letter http://www.austinletter.com/ When the Texas Legislature adjourns next week, this is certain: Texas will have a balanced budget with no tax increases and there will a big increase in its Rainy Day Fund "savings account." Look around you. No other major state can make those claims. Members of the Texas House and Senate will leave Austin next week after adjourning sine die 6/1/09. They will not re-convene in Austin in regular session until January 2011. Many of them will watch other states raise taxes, cut their budgets and plea with Washington for help. Texas' competitor California is really struggling. Just how bad is it? Governor Arnold Schwarzenegger has just proposed borrowing $2 billion from California cities and counties. The cities and counties squawked to high heaven because they, too, are cash-strapped. The Governator made this proposal after voters last week overwhelmingly rejected a series of measures to help keep the state solvent. While Texas has billions of dollars in its Rainy Day fund, California is facing a $21 billion shortfall. And, in addition to raising taxes, officials there are talking about more and more cuts, including cutting about $600 million from colleges and universities. Let this sink in. When we say California is a "competitor" state, consider that California has an impressive higher education system. One of the best in the nation. And, even as we speak, you can bet UT Austin is ramping up recruiting efforts to siphon top flight professors from California. California might look to Minnesota for a road map. Minnesota was facing a multi-billion dollar shortfall. But Governor Tim Pawlenty outmaneuvered his legislature after it sent him an outsized spending bill and a long list of tax hikes. Minnesota already has one of the highest tax burdens in the nation, so Pawlenty said "we shouldn't raise taxes in the worst recession in 60 years" and said he will veto the tax hikes and, furthermore, taking advantage of a little-used provision in Minnesota law, he says he will cut $2.7 billion from the state spending bill to balance the state's budget. He did this after the legislature adjourned last week. Other states may not fare as well as Minnesota. Let's look at how higher and higher state taxes are impacting many states - and, ultimately may benefit Texas - in the next item. Americans know how to use the moving van to escape high taxes. People, investment capital and businesses can leave tax-unfriendly states and move to tax-friendly states. And they are doing that. Other states are making their comparative situation with Texas even worse during these difficult economic times. Arthur Laffer and Stephen Moore, writing in a new study for the American Legislative Exchange Council, pointed out the difficulties high tax states were having long before this current economic crisis. The study, titled "Rich States, Poor States," found that from 1998 to 2007 more than 1,100 people every day including Sundays and holidays moved from the nine highest income-tax states such as California, New Jersey, New York and Ohio and relocated mostly to the nine tax-haven states with no income tax, including Texas, Florida, Nevada and New Hampshire. "Is it coincidence that the two highest tax-rate states in the nation, California and New York, have the biggest fiscal holes to repair," they ask. "No. Dozens of academic studies - old and new - have found clear and irrefutable statistical evidence that high state and local taxes repel jobs and businesses." And now look what's happening. Lawmakers in California, Connecticut, Delaware, Illinois, New Jersey, New York and Oregon want to raise income tax rates on the top 1% or 2% or 5% of their citizens. In fact, the new governor of Illinois has proposed a 50% increase in the income tax rate on the "wealthy." Or take New Jersey. (Please!) In the early 1960s, the state had no state income tax and no state sales tax. It was a rapidly growing state attracting people from everywhere and running budget surpluses. "Today its income and sales taxes are among the highest in the nation yet it suffers from perpetual deficits and its schools rank among the worst in the nation. People are fleeing the state in droves," Laffer and Moore report. Texas was singled out by the authors for its fiscal soundness. And, as we noted previously, the Texas tax situation will keep its envied status for at least two more years, while other states are turning to even higher taxes to solve their fiscal instability. "The Texas economic model makes a whole lot more sense than the New Jersey model, and we hope the politicians in California, Delaware, Illinois, Minnesota and New York realize this before it's too late," they noted. At least Minnesota's governor took this advice last week. But the other states have not followed suit. And this is where Texas benefits economically. Jobs will continue to flee these high-tax states for the foreseeable future. And many of them will be created here - providing income and a decent living for those who live in Texas. Much has been made of the fact that Austin is the only major metro in the nation to gain jobs during this downturn - and rightly so. But where are those jobs being created? Admittedly the increase in jobs in the Austin metro is small and the number of unemployed is higher than a year ago. But, hey, it's the best job situation in the nation. Given this, an examination of how this has occurred is timely. The release last Friday of the April 2009 workforce numbers show that Austin's net job gain was 0.4% over April 2008, while Texas job totals are down 1.6% and nationally, the comparative numbers show a 3.8% loss. In pure numbers, the Austin metro gained 3,400 jobs. An analysis by Beverly Kerr, VP/Research for the Austin Chamber, shows that Austin's April-over-April net gain in jobs is due to a 3,900 gain in the government sector that compensated for 500 jobs lost in private industry. Which Austin private sector segments are losing the most jobs? Kerr said the highest rate of losses occurred in these three categories: natural resources and construction, manufacturing and wholesale trade. As we have reported previously, government jobs are becoming more and more attractive in these uncertain times. After all, most government jobs in Austin offer a high degree of security, an attractive health benefits program and solid retirement packages. Other states may be cutting government jobs. Here, they are among the most sought-after.
By Shonda Novak
From the Austin American Statesman Tuesday, May 26, 2009 Come Monday, many Austin home sellers will have one more chore, along with touching up the paint and sprucing up the yard, before putting their house on the market. That's when a new city ordinance kicks in that requires sellers of homes older than 10 years to get an energy audit and disclose the results to prospective buyers. City leaders who approved the audits last year said it was one more way to reduce Austin's energy consumption and make Austin greener, although sellers are not required to make any improvements as a result of the audit. The idea is to encourage sellers or buyers to make their houses more energy-efficient. But with the requirement taking effect in a slower housing market, some real estate agents say it could delay or torpedo sales and will add costs for sellers. "There's never a good time to add fees to a transaction," said City Council Member Mike Martinez, "but I think this requirement is a good thing. It allows the consumer to fully understand the purchase they're about to make. If you spend hundreds of thousands of dollars on an investment, you would want to know how efficient that investment is going to be for you." As for sellers who may be concerned that the ordinance could hurt their negotiating power, Martinez said: "It's no different than a home inspection. The consumer needs to know what they're buying." The audits are expected to cost $200 to $300 for a typical home of 1,800 square feet or less. Austin Energy anticipates that 3,000 to 4,000 homes a year will be audited under the ordinance. Jay Gohil, chairman of the Austin Board of Realtors, said the ordinance "is reasonably acceptable for buyers as well as sellers." The board was represented on the task force that created the ordinance, along with contractors, city officials and others, and fought successfully against any provision that would require sellers to make energy upgrades. "With the cost of electricity rising, it's an important part of knowing if you can afford a home. Buyers are looking for houses with lower utility costs," Gohil said. But Robin Curle, an agent with JB Goodwin Realtors, said the ordinance "needs to be overturned or revised." "The ordinance might have been a good idea in a very hot real estate market, but to pass it this year when the market is recovering from a slowdown ... will only slow the contract process and give buyers one more thing other than repairs to negotiate," she said. "Now they can also negotiate (energy) upgrades, which puts us at risk for a hit on the market." Michael Lucy, whose four-bedroom home in Northwest Austin is on the market for $489,000, said he got widely varying quotes on the energy audit and eventually paid $400. Lucy said he is all for the city promoting energy conservation but thinks that the audit requirement is misguided because sellers have no incentive to make upgrades. "They should involve the people with a vested interest in the future of the home, not the people that are on their way out the door, literally," said Lucy, who works for a pharmaceutical company. "There's no reason in the world why this should be tied to the purchase or sale of a house." The ordinance was part of Mayor Will Wynn's initiative to reduce energy use in Austin and the need for new power plants, thus shrinking the city's carbon footprint. After months of work by the task force, the City Council unanimously passed the ordinance in November, setting June 1 as the effective date. The ordinance also has provisions for multifamily properties and commercial buildings. A City Council resolution accompanying the ordinance includes a goal of having 25 percent of homes sold between June 2009 and June 2010 receive upgrades and more homes in later years. The reports must be done by auditors who are certified by the Building Performance Institute, a national educational organization for home performance contractors. Austin Energy lists 45 approved inspectors on its Web site. The audits will cover issues such as how much insulation the house has and the condition of the heating and cooling equipment and include recommendations for improvements. Sellers must provide a copy of the report to buyers. The auditors are required to provide a copy of their report to Austin Energy within 30 days. The ordinance says violations are a Class C misdemeanor, punishable by a fine of up to $500. However, an amendment bound for a conference committee in the state Legislature could strip the ordinance of its teeth. The amendment says that "a municipality may not impose a criminal penalty on the seller of real property for the failure to perform an energy audit." Rep. Jim Keffer, R-Eastland, filed the amendment to an energy efficiency bill introduced by state Sen. Troy Fraser, R-Horseshoe Bay. Ed Clark, a spokesman for Austin Energy, said that on average, a home that is 25 to 30 years old and has never had energy improvements wastes 30 to 50 percent of the energy it uses. Austin Energy offers rebates or zero percent loans for energy upgrades. In the past five years, 23,800 residential customers have made improvements that collectively reduced their energy use by 38 million kilowatt-hours and saved a total of $3 million on their energy bills, according to the utility. Jay Carter, an agent with LivingInAustin.com, a real estate Web site, said that it's a good idea for homeowners to have the audit done and take care of any issues they can afford to get done. "It's going to make the property sell a little faster, in my opinion," he said. With uncertainty about jobs and the economy, "buyers are looking for peace of mind right now. They want to make sure the AC's not going to break down in three months." Energy audit highlightsWho needs one: Sellers of homes 10 or more years old in Austin that get their electricity from Austin Energy. Who can skip it: Owners who have made certain improvements under Austin Energy programs in the previous 10 years. The ordinance does not apply to condominiums or mobile homes. Who does the audits: City-approved firms that are certified by a national organization. Costs: Estimated at $200 to $300 for a typical home of 1,800 square feet or less. Austin Energy recommends getting at least three bids. More information: http://www.austinenergy.com/ You can access the ordinance here and a map of affected areas here.
Posted by: gardnergroup in Property Tax, Finance on
May 26, 2009
Daily Real Estate News | May 12, 2009 | Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment. Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS has been calling for the change. "We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment," Donovan says. His remarks came in an address to several thousand REALTORS gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORSR Midyear Legislative Meetings & Trade Expo in Washington, D.C. He says FHA's approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table. Other Solutions for Today's Market During his address at the summit, Donovan went on to say that the Obama administration plans to further stabilize the housing market. "I do think we have some early signs that the market overall is stabilizing," Donovan says. "Since January we've seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate." The morning session included a panel discussion that was moderated by CNBC's Ron Insana. Panelists examined cutting-edge solutions necessary to promote and preserve homeownership and real estate development, stimulate the economy, and protect the nation's taxpayers. They also shared their ideas on what the role and responsibility of the federal government is in the revitalization effort. "Right now the Federal Reserve is the market," said panelist Jay Brinkman, chief economist for the Mortgage Bankers Association. "What will be the effect when the Fed stops buying?" Brinkman explained that an exit strategy must be planned for the long-term; the federal government cannot continue to support the mortgage markets indefinitely. "We are thrilled that so many high-caliber individuals were able to join us today at this important meeting to promote stability in the housing market and the U.S. economy," said NAR President Charles McMillan. "We look forward to an ongoing dialogue and action toward this goal, during our midyear meetings this week and beyond." The real estate summit is part of the 2009 REALTORS Midyear Legislative Meetings & Trade Expo. During the week ending May 16, more than 8,500 REALTORS attended meetings, visited lawmakers and inspired action on Capitol Hill. Source: NAR
April sales highest since September but down 18 percent from a year ago. By Shonda Novak
AMERICAN-STATESMAN STAFF
Thursday, May 21, 2009 Austin-area home sales last month were the highest since September, and several agents said they're seeing signs the market is stabilizing. The Austin Board of Realtors said Wednesday that 1,601 single-family homes sold last month, with a median price of $189,000. Although sales were down 18 percent on a year-ago basis, board Chairman Jay Gohil said that was the smallest percentage decline this year. "With each month, the gap in sales volume from 2008 to 2009 is closing," Gohil said. The April percentage decline was half as big as the gap in January. There were 1,919 sales in the pipeline for May, the most since July, although they were down 9 percent from a year earlier. The median price was 1 percent higher than a year ago. R. Michael Brown, owner/broker of Avalar Austin, said the market in general seems to be picking up but cautioned that there were wide differences based on neighborhoods and subdivisions. "We're seeing a very nice ramp-up" in the market for homes priced between $300,000 and $600,000, where his company focuses, Brown said. That includes buyers of second homes in areas such as Lakeway and Lake Travis. "People are looking to park some money in a tangible asset that they can use and have some fun with," he said. But he said that getting approved for a mortgage remains a challenge for some prospective buyers, estimating that about 35 percent of his company's potential buyers encounter financing issues. The hitch is typically "the perceived stability of their job," Brown said, particularly if they work in a industry that's declining. In Austin, Jay Carter, an agent with LivingInAustin.com, said it seems to be a buyer's market for homes priced $350,000 and higher. In that price range, mainly in Central and West Austin, Carter said, "we're noticing homes sitting on the market a bit longer and where some asking prices are being dropped deeply and frequently." He said many potential buyers are "becoming convinced those prices have still further to drop. And I can't say I disagree with them." On the other hand, for houses under $250,000, "the market is incredibly intense and competitive," Carter said. He said the best homes in that category are attracting multiple bids after just a day or so on the market. "If you have a nice home within the city limits to sell for under $200,000, you're still finding lots of buyers at your doorstep," Carter said. "They're taking advantage of 4.75 percent interest rates and the $8,000 first-time buyer tax credit." Gohil noted that there is a 6.4-month supply of homes for sale, considered a balanced market between supply and demand. Brown said it's a good time to buy, with ample inventory to choose from and some sellers reducing prices, though he emphasized that buyers aren't likely to find fire sales. From the Austin American Statesman
Posted by: gardnergroup in Property Value on
May 22, 2009
Forbe's list of America's Best Bargain Cities based on average salary, annual unemployment statistics, the Housing Opportunity Index, and the cost of living: - Austin, Texas
- Phoenix, Arizona
- Washington, D.C.
- Fort Worth, Texas
- Cincinnati, Ohio
- Indianapolis, Indiana
- Columbus, Ohio
- Dallas, Texas
- Houston, Texas
- San Antonio, Texas
- Nashville, Tennessee
- Denver, Colorado
- Cambridge, Massachusetts
- Kansas City, Missouri
- Detroit, Michigan
Austin topped the list with high marks in all four indicators used by Forbe's, and 4 other Texas cities joined Austin in this National top-15 list: Fort Worth, Dallas, Houston, and San Antonio.
from Forbes.com Unemployment is on the rise, credit is tight and consumers aren't spending - which means they aren't picking up and moving much, either. Very few places in America saw significant population growth in 2008. Despite the overall economic slowdown, some parts of the country keep on moving ahead, attracting more and more newcomers - even if it's at a slower pace than in more sound economic times. These places still offer a semblance of stability, as well as great weather, cultural life and, in many cases, affordability. Behind the numbers
To determine the fastest-growing metro areas in the country, Forbes used 2008 population estimates for metropolitan statistical areas with a population of more than 1 million, released March 19, 2009, by the U.S. Census Bureau. MSAs are geographic entities defined by the U.S. Office of Management and Budget for use by federal agencies in collecting, tabulating and publishing federal statistics. Forbes then compared the 2008 population estimates to the previous year's data to see which areas had grown the most, percentagewise. The cities that made the list share similar qualities: more business opportunities, better weather and more affordable housing. The top three areas according to the data are Raleigh, N.C., ranking first, which jumped 4.29% to nearly 1.9 million; Austin, Texas, which came in second, with a 3.77% increase to almost 1.7 million; and Charlotte, N.C., which moved up 3.36% to 1.7 million. Click here to read more.
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