With the national media focusing heavily on the negative markets highlighted by States such as California, Nevada and Florida, very little attention is being paid to the markets that are thriving and continuing to grow.With recently released data, it is evident that the Texas real estate market is not only thriving, but poised for considerable growth."Texas - Poised for a 21st Century Boom""So far, skyrocketing home prices common to fast-growing states like California and Florida have not occurred in Texas." says Dr. Jim Gaines, research economist for the Real Estate Center at Texas A&M University.
Gaines says housing affordability is just one card in a deck stacked in the state's favor. The other winning cards include lower cost of living, cost of business, greater employment opportunities and an appealing lifestyle. "Events and circumstances point toward a Texas-sized boom between 2005 and 2030", Gaines writes in the latest issue of Tierra Grande magazine, a periodical sent to all the state's real estate licensees."The state's population and economy -- as well as its housing and commercial real estate markets -- are poised to explode in volume and prices. Texas leads the nation in job creation. If Texas maintains its average employment-to-population ratio as expected during the next 25 years, the state will add another 4.5 to 5.8 million jobs", says Gaines. "Job growth is expected to be stimulated by overall U.S. economic growth and enhanced by Texas' employment-friendly characteristics. Texas is the most housing-affordable, high-growth state in the nation."
Accordingly, he presented the following data for what Texas currently has going for it:
• Population and economic growth
• Low cost, affordable labor
• Pro growth attitude
• Migration into state from elsewhere
• Attractive retirement areas
• Pressure on infrastructure, government sources, public finances
• Most affordable state for land, housing and overall cost of living
The Current Texas Real Estate MarketConsider the following...
• 4 major Texas cities were recently included in the Forbes Top 10 recession proof cities. These included San Antonio at #2, Austin at #3, Houston at #7 and Dallas at #10.
• Unemployment rates for all 4 cities have fallen across the state and job growth has increased in many cities (Austin, Dallas and Houston all showed an increase)
• Almost all Texas counties showed no decrease in house price. The majority of Texas counties showed an increase of up to 5%!
In conclusion, the Texas market is not feeling the effects to the extent the rest of the nation. While we are not in the boom market we were two years ago, it is evident that the Texas real estate market is healthy and growing. Population growth has tremendous bearing on the health of a real estate market and the projections for population increase in Texas are quite exciting. To quote Dr. Gaines "we are the most affordable State in the US. Texas housing is a bargain... land sales are going up... commercial rents continue to go up... You draw the conclusion as to how the real estate market is in Texas, and what potential it holds".
We look forward to working with you! -Roman
Friday, July 18, 2008
Monday, July 7, 2008
Zachry, ACS Awarded TRANS-TEXAS CORRIDOR Contract
AUSTIN (Austin Business Journal) – Zachry American Infrastructure and ACS Infrastructure have been selected by the Texas Transportation Commission to plan, develop, build and operate the I-69 corridor, one of two highways being considered for the Trans-Texas Corridor.
The Trans-Texas Corridor is a proposed multi-use network of transportation routes in Texas that will incorporate existing and new highways, railways, utility rights of way and toll roads.
The Trans-Texas Corridor is a proposed multi-use network of transportation routes in Texas that will incorporate existing and new highways, railways, utility rights of way and toll roads.
Friday, July 4, 2008
Cameron County - The Sleeping Tourism Giant
On February 12, 1848 the Texas legislature decreed the existence of Cameron County, with the signing of the Treaty of Guadalupe-Hidalgoqv, on July 4, 1848 the area officially became part of the United States.
Cameron County, was named for Scottish born, Captain Ewen Cameron, who was executed by order of Santa Anna, on April 25, 1843, at age 32, in Huehuetoca, Mexico, one month after surviving the "Black Bean Episode".
While there are many stories to tell between 1848 and the present, I will leave those to historians and later musings on this blog.
In the last 2 decades, since Texas started its diversification from an oil based economy to its present state, the border towns of El Paso, McAllen and Laredo have experienced phenomenal growth, while Cameron County slumbers, with 1 eye open.
Yes, there are some new restaurants, stores and a few roads, but nothing compared to the rest of Texas.
Cameron County is the only county in the continental U.S. that has a coastline and a warm year round climate, outside of southern Florida. There are 31.5 miles of sub-tropical coastline and an Island Resort Community in the Gulf of Mexico, a fishing/boating community with miles of deep water frontage (unique between Houston & the Yucatan Peninsula), a deep water shipping port, 3 airports, 4 international bridge crossings, 1 University, Union Pacific & Rio Grande Intl. Railroad service and more less notable infrastructure to be sure.
While on the recreational front we boast the best shallow water flats and deep sea fishing in Texas, the best surfing in the Gulf of Mexico, one of the best windsurfing & kite boarding spots in North America, home to over 300 butterfly species, where 2 major avian migratory paths cross (almost 400 bird species) and the friendliest county in Texas to live in..., so what's next?
Anything is possible:
Cameron County, was named for Scottish born, Captain Ewen Cameron, who was executed by order of Santa Anna, on April 25, 1843, at age 32, in Huehuetoca, Mexico, one month after surviving the "Black Bean Episode".
While there are many stories to tell between 1848 and the present, I will leave those to historians and later musings on this blog.
In the last 2 decades, since Texas started its diversification from an oil based economy to its present state, the border towns of El Paso, McAllen and Laredo have experienced phenomenal growth, while Cameron County slumbers, with 1 eye open.
Yes, there are some new restaurants, stores and a few roads, but nothing compared to the rest of Texas.
Cameron County is the only county in the continental U.S. that has a coastline and a warm year round climate, outside of southern Florida. There are 31.5 miles of sub-tropical coastline and an Island Resort Community in the Gulf of Mexico, a fishing/boating community with miles of deep water frontage (unique between Houston & the Yucatan Peninsula), a deep water shipping port, 3 airports, 4 international bridge crossings, 1 University, Union Pacific & Rio Grande Intl. Railroad service and more less notable infrastructure to be sure.
While on the recreational front we boast the best shallow water flats and deep sea fishing in Texas, the best surfing in the Gulf of Mexico, one of the best windsurfing & kite boarding spots in North America, home to over 300 butterfly species, where 2 major avian migratory paths cross (almost 400 bird species) and the friendliest county in Texas to live in..., so what's next?
Anything is possible:
- UTB becoming a center for biotech, medical, nano, reusable energy & tourism studies?
- A year round tourism economy on the southern tip of Padre Island (the longest barrier island, on planet Earth) that benefits the entire area?
- A Tourism Destination Project, i.e. Disney, Six Flags, Cesar's/Venetians?
- More domestic non-stop flights: Chicago, Denver, St. Louis, Kansas City, OK City, etc.
- International tourism? Non-Stop flights from Monterrey, Mx, Toronto & Calgary?
- Bring Whole Foods and H.E.B.'s Central Market to Brownsville?
- World class health care & activity centers for our seniors? (They deserve it!)
- World class (Landmark/PGA) golf course communities?
- MLB Spring training camps?
- Upgrading the Port of Brownsville to a container shipping port?
- Three thriving airports, each with its own strengths?
- A 50,000 person capacity event center/coliseum for performing arts, concerts, sports, etc.
- An international cruise ship terminal with Carnival, Princess, Norwegian, etc.
- A Performing Arts & Music Center
- Museum of Arts
- Museum of Natural History
- Enhance our existing facilities/attributes:
- Sabal Palm Grove Sanctuary
- Gladys Porter Zoo
- Isla Blanca Park - Hotel, Marina, Aquarium, IMAX Theater, enhanced beach with lifeguards , 24-hour clinic, expanded parking, new Surf City Jetties Restaurant & Museum
- Palmetto Battlefield
- Palo Alto Battlefield
- El Jardin Hotel
Let us designate what we want to save and preserve and then master plan the rest.
The next 20 years will be easier, more profitable and pleasant for all, when we have charted our course.
By the way, Happy Birthday Cameron County, you've come a long way in 160 years.
Roman C. Esparza
Tuesday, June 24, 2008
Casino Gaming & South Padre Island
This is an article from last summer, the Senate Joint Resolution #8 will come up again in the next legislative session in Jan. 2009. I will be posting more on the Casino Gaming bill, later.
Texas Casino Gambling Vote Stopped by Religious Conservatives
In the Texas state legislature, the religious right members have again stopped the voters from going to the polls to decide whether to allow casino gambling within the state. Fearing that such an initiative would be overwhelmingly be approved by voters, those staunch religious right representatives blocked bills from coming out of committee to allow voters to register their opinions. Brian Branderson, a gambling analyst said, "Once again, we have a situation of supposedly god-fearing religious right lawmakers pushing their morals on everyone. This is a classic interruption of the separation of church and state, which is guaranteed by the United States constitution." A poll in Texas, taken earlier this year, showed that a vote by the people would have been a resounding “YES” to casino gambling. Texas' surrounding state neighbors, New Mexico, Oklahoma, and Louisiana have a combined 133 casinos. According to Business Week, in 2005, Las Vegas brought in $7.5 billion; Atlantic City came in a close second with $5 billion, Louisiana with $2.2 billion and Mississippi with $2.8 billion. A study done in Texas estimates that if Texas allows casino gambling it would create 400,000 jobs and generate between $1 and $4.5 Billion in state and local revenue. Texans are disappointed with the legislators who are more and more inserting religious views held by them and powerful lobbying groups that want to regulate morality. In 2008, Texans can change this. Texans will need to come out in force during that election cycle and support candidates that not only support legalizing casinos, but also lend their support to those willing to allow mature adults to make their own choices and decide what moral path each wants to pursue. June 30, 2007Posted By Bob HartmanStaff Editor, CasinoGamblingWeb.com
Texas Casino Gambling Vote Stopped by Religious Conservatives
In the Texas state legislature, the religious right members have again stopped the voters from going to the polls to decide whether to allow casino gambling within the state. Fearing that such an initiative would be overwhelmingly be approved by voters, those staunch religious right representatives blocked bills from coming out of committee to allow voters to register their opinions. Brian Branderson, a gambling analyst said, "Once again, we have a situation of supposedly god-fearing religious right lawmakers pushing their morals on everyone. This is a classic interruption of the separation of church and state, which is guaranteed by the United States constitution." A poll in Texas, taken earlier this year, showed that a vote by the people would have been a resounding “YES” to casino gambling. Texas' surrounding state neighbors, New Mexico, Oklahoma, and Louisiana have a combined 133 casinos. According to Business Week, in 2005, Las Vegas brought in $7.5 billion; Atlantic City came in a close second with $5 billion, Louisiana with $2.2 billion and Mississippi with $2.8 billion. A study done in Texas estimates that if Texas allows casino gambling it would create 400,000 jobs and generate between $1 and $4.5 Billion in state and local revenue. Texans are disappointed with the legislators who are more and more inserting religious views held by them and powerful lobbying groups that want to regulate morality. In 2008, Texans can change this. Texans will need to come out in force during that election cycle and support candidates that not only support legalizing casinos, but also lend their support to those willing to allow mature adults to make their own choices and decide what moral path each wants to pursue. June 30, 2007Posted By Bob HartmanStaff Editor, CasinoGamblingWeb.com
Friday, June 20, 2008
Southern Tip of Padre Island's 2nd Bridge?
The next bridge to join the southern tip of Texas' barrier Island to the mainland is in it's second stage(Environmental stage). While the small local municipalities squabble and scratch at the locale of this historic connect, it is not a political football, much to their future dismay.
Economic factors will trump over political and personal agendas.
One-way streets and roadways do not spur economic progress as much as circular traffic patterns, so logic dictates a northern crossing of the upper Bahia Laguna Madre.
There is no need to reinvent the concept i.e., Tampa Bay, San Francisco Bay, Miami Beach (our most logical and nearest comparison) to see that Holley Beach to Access #4 or #6 is the best and most logical crossing.
The reasons why:
1. Our State and Federal government budgets are stretched and those funds could take 10-20 years, yet a private or public bond issue initiated by our RMA (Regional Mobility Authority) can make it happen within 7 years.
2. An "RMA" bond issue will not raise local taxes 1 cent and, yet fast track construction, but it will make the crossing a "Toll bridge" in order to pay back the bond.
3. The Queen Isabella Memorial Causeway needs relief now, she's 35 years old.
4. Port/Point Isabel & South Padre Island will always remain economically viable and continue to grow and prosper.
5. Why would anyone use/utilize a toll crossing, if there is a free bridge nearby?
Roman C. Esparza
Economic factors will trump over political and personal agendas.
One-way streets and roadways do not spur economic progress as much as circular traffic patterns, so logic dictates a northern crossing of the upper Bahia Laguna Madre.
There is no need to reinvent the concept i.e., Tampa Bay, San Francisco Bay, Miami Beach (our most logical and nearest comparison) to see that Holley Beach to Access #4 or #6 is the best and most logical crossing.
The reasons why:
1. Our State and Federal government budgets are stretched and those funds could take 10-20 years, yet a private or public bond issue initiated by our RMA (Regional Mobility Authority) can make it happen within 7 years.
2. An "RMA" bond issue will not raise local taxes 1 cent and, yet fast track construction, but it will make the crossing a "Toll bridge" in order to pay back the bond.
3. The Queen Isabella Memorial Causeway needs relief now, she's 35 years old.
4. Port/Point Isabel & South Padre Island will always remain economically viable and continue to grow and prosper.
5. Why would anyone use/utilize a toll crossing, if there is a free bridge nearby?
Roman C. Esparza
Wednesday, June 18, 2008
Ocean Tower: Sinking or Settling? KVEO Video
A muliti-million dollar condominium high rise building is settling and sinking on South Padre Island.
Construction is temporarily haulted at Ocean Tower condos, on the north end of South Padre Island and it's one of the tallest buildings in the Valley and this building delay on these 151 high priced, ocean view condos, is raising some concerns.
Construction crews are still on site at the luxurous Ocean Towers condos, but work has come to a hault. Late last week, Cameron county officials say, after inspecting they realized, this 31 story high skyscraper is slowly settling into the sand, more than it should be.
Column cracks in the parking garage structure concern former developers like, Fred Joseph, but real estate agents, who work closely with Ocean Tower developlers say, there isn't much to worry about. What apparently happened is the tower and parking garage were mistakenly built connected and say, tower is not leaning, but the parking garage structure did not settle. The connection of the garage to the tower caused cracks at the junction points because of the unsettling.
Still, residents sasy they hope construction continues, so profits won't be lost. Agents involved with the project tell us, developers hope to resolve the situation and resume construction by Monday. They say sinking is not un-heard of for buildings being built so close to the ocean.
WATCH THE KVEO NEWS VIDEO
Construction is temporarily haulted at Ocean Tower condos, on the north end of South Padre Island and it's one of the tallest buildings in the Valley and this building delay on these 151 high priced, ocean view condos, is raising some concerns.
Construction crews are still on site at the luxurous Ocean Towers condos, but work has come to a hault. Late last week, Cameron county officials say, after inspecting they realized, this 31 story high skyscraper is slowly settling into the sand, more than it should be.
Column cracks in the parking garage structure concern former developers like, Fred Joseph, but real estate agents, who work closely with Ocean Tower developlers say, there isn't much to worry about. What apparently happened is the tower and parking garage were mistakenly built connected and say, tower is not leaning, but the parking garage structure did not settle. The connection of the garage to the tower caused cracks at the junction points because of the unsettling.
Still, residents sasy they hope construction continues, so profits won't be lost. Agents involved with the project tell us, developers hope to resolve the situation and resume construction by Monday. They say sinking is not un-heard of for buildings being built so close to the ocean.
WATCH THE KVEO NEWS VIDEO
Friday, June 6, 2008
NEWS RELEASE
May 23rd, 2008
A recent reversal in mortgage policy means the market is better positioned for a turnaround, according to the National Association of Realtors®. NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said the good news is that mortgage restrictions have just been eased. “In the past week, Freddie Mac and Fannie Mae announced that they were eliminating their ‘declining market’ policies, effective June 1,” he said.
“This means consumers across the country will have access to safe, affordable financing with down payments of only 5 percent on most mortgages, with 100 percent financing available on some loan products, and we could see an upturn in home sales this summer.”
A recent reversal in mortgage policy means the market is better positioned for a turnaround, according to the National Association of Realtors®. NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said the good news is that mortgage restrictions have just been eased. “In the past week, Freddie Mac and Fannie Mae announced that they were eliminating their ‘declining market’ policies, effective June 1,” he said.
“This means consumers across the country will have access to safe, affordable financing with down payments of only 5 percent on most mortgages, with 100 percent financing available on some loan products, and we could see an upturn in home sales this summer.”
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