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Texas economy still best; 2012 looks to mirror 2011

David S. Jones | columnist

Dec. 27, 2011

On New Year’s Eve, many bid farewell to the old year by singing “Auld Lang Syne” lyrics that include, “Should old acquaintance be forgot and never brought to mind.“

Apparently, it will be hard to forget 2011 because 2012 is expected to look pretty much like it.

If the experts are correct, however, Texans will again have more to sing about in the New Year than will their fellow Americans.

Texas: Slow but still leading

Real Estate Center Chief Economist Mark Dotzour, Ph.D., sees “modest, positive economic growth” for the nation in the next 12 months. Nationally, he expects 2012 to look something like 2003-06.

By comparison, Dotzour predicts a “much more robust economic outlook” for Texas in the coming year. He bases this on documented evidence that Texas dramatically outperformed the United States in 2011.

The state’s positive job growth came not only in the energy industry but also in construction, manufacturing, retail, transportation, professional business services, health care, and hospitality.

“Job growth is occurring in nearly all Texas metro areas and is likely to continue into 2012,” says Dotzour.

Wait-and-see election watch

Real Estate Center residential expert Jim Gaines, Ph.D., doesn’t expect major business and investment decisions until after the 2012 election. Even then, he predicts first quarter 2013 will be sluggish despite what should be low interest rates through 2013.

Gaines believes the U.S. housing market will remain steady with no major movement in 2012. He says Texas and local housing markets should show some modest improvement but no major upgrade.

“In general, Texas’s housing markets in 2012 are expected to show small, but nevertheless positive gains,” Gaines says. “The projected levels of home sales, prices, and new construction statewide for 2012 and into 2013 indicate gradual improvement. This gradual improvement should also prevail in most local markets, with some doing better than others based on local factors.”

Dotzour says buyers and sellers are aware there is a “shadow inventory” of between 4.5 million and 6 million homes that have delinquent loans and will soon need to be sold.

“It is unlikely that home sales volume will return until this overhang of distressed houses sells to investors,” he says. “Unfortunately, the foreclosure process is severely retarded from the normal pace.”

Distressed commercial sales going up

According to commercial real estate insiders, distressed sales are on the way up. Real Estate Center Research Economist Harold Hunt, Ph.D., talked with Texas commercial real estate professionals about the outlook for 2012.

Real Capital Analytics reports about $1.2 trillion in commercial real estate assets were traded nationally between 2005 and 2007.

“For the most part, these assets are still being held by those purchasers,” Russell Ingrum, managing director of investment sales in the CB Richard Ellis Houston office, recently told Hunt. “As a result, many of them will come up for sale in the next four years, depending on holding period, market conditions, and so on.”

These properties could represent $200 billion per year in transactions. Many of them will be in the distressed category because of when they were purchased.

“If you are a broker, you should consider focusing on what traded back then,” says Ingrum.

Stagnant land market

“The trouble is we have not dealt with the problems that caused 2008,” says Research Economist Charles Gilliland, Ph.D., the Center’s authority on rural land. “In the early 1980s, the Latin American sovereign debt defaults wrecked balance sheets.

“The solution was to pretend that nothing had really happened and let the economy come back to allow write offs of those bad debts. This time we are trying the same thing, but the recovery is not happening.

“Nobody knows how long it might be before a reckoning ensues. It would appear that an increasing number of observers are deciding that it is going to be a while. So, with that preamble, I’m thinking that the land market is likely to extend recent trends through 2012.

“Those are fewer sales than had been the norm. Smaller sales than had been the norm because larger properties still are not selling. Overall, it looks like a rather stagnant market.”

Oil shines bright in Texas

“The Texas story is brighter,” confirms Dotzour. “For the past 15 years, Texas seems to double the U.S. economy in terms of job growth. It will continue to do so in 2012.”

Dotzour sums up the Texas economic outlook heading into 2012 and beyond …

“The oil and gas industry is on fire,” he says. “We are experiencing job growth in all sectors except for government and information. Our population is expanding. People are migrating here from places like California and Illinois, where taxes are much higher and regulations more prohibitive. Businesses and investors are cautiously hopeful that the economic environment in America could become substantially more attractive in 2013.”

Reasons Why You Should Choose Carlton Woods Luxury Homes

The Carlton Woods Luxury Homes is one of the finest residential community in Houston, Texas. Newlyweds, young professionals, or those looking for a fresh start go to this community in order to purchase a house they can call their own. The houses in this area are indeed as sight to behold and a comfort to live in. The high-end houses are nestled in a naturally inspired setting. This is indeed to perfect place to come home to after a tough day at work. The harmonious setting that surrounds the community makes the Carlton Woods Luxury Homes a paradise on earth.

If you are still thinking twice about owning a house at this community, then maybe these facts may help you reach a decision.

The Country Club Lifestyle

The Carlton Woods Luxury Homes is more than just a bunch of high-end homes. It also boasts of a one of kind country club lifestyle that you dream of. When you move to this community, you get the chance to enjoy its exclusive clubhouse. You can do many things at the clubhouse. First, if you are craving for a romantic dinner with your wife then you can take her to Carlton Room. Second, if you are into family bonding over great food then grab a bite at Fazio Grille or Nicklaus Grille. Third, for an all adult bonding moment you and your friends can go to the Bear’s Den. When it comes to shopping The Woodland’s Mall is the place to be.

The Environment

As publicized, the Carlton Woods Luxury Homes is nestled in a nature-inspired setting. The community is surrounded by ponds and lakes, which are perfect spots for small gatherings and family picnics. If you are a health buff then you will surely enjoy the lengthy walking trail. There are also several parks located in Carlton Woods these are the George Mitchell Nature Preserve and the Rob Fleming Park. There are also parks located outside the Carlton Woods Luxury Homes, one of which is the Northshore Park, this is the park famous for hosting events like the Concerts in the Park series. The Cynthia Woods Mitchell Pavilion is an amphitheatre created to host huge events and is one of the most popular recreational sites outside of Carlton Woods Luxury Homes.

The Education, Health Care, and Travel Means

The Carlton Woods Luxury Homes is not only a community focused on providing its residents a harmonious lifestyle but also a community that is keen at meeting the residents’ basic needs. The young residents of Carlton Woods Luxury Homes have to options when it comes to choosing their school. Two school districts are easily accessible from the community these are the Conroe and Tomball. Schools under Conroe are Knox Junior High school and Lamar Elementary. On the other hand, the Tomball school district boasts of the Creekside Forest Elementary, which is considered one of the many exceptional academic institutions near Carlton Woods Luxury Homes.

How to Find Good Real Estate in the Woodlands

Visit www.UtahBurden.com today!

A lot of new home buyers seem to think that they can avoid realtor services in order to save money. They seem to believe that it would be a waste of time and money to hire professional real estate agents and that directly negotiating with a broker or seller will benefit them more. However, a lot of people regret thinking this in the end. So, if you are looking for good real estate in the Woodlands, it would be best to look into professional services in order to find the best home for you.

Now, the real estate market tends to fluctuate, in general. Fortunately, experts know about the rise and fall of interest rates in the area, so they can tell buyers when the ideal time would be to look into real estate in the Woodlands. This will give you the best value possible. Conversely, if you choose to deal with brokers or sellers directly, you might lose out due to their lack of sympathy and interest in you.

Hiring a real estate agent will also ensure that you find out about a property’s actual market value. Plus, you will be able to negotiate things more effectively and ensure you get the best price possible.

One unique quality that comes with the business would be the fact that agents keep coming and leaving and the ones who are the most hard-working become industry experts from whom you can expect the most out of. Because of this, you should always look at the records and experience of agents before hiring one because it is their experience in real estate in the Woodlands that truly matters.

These agents can also give you any information that you need on the real estate in the Woodlands, in general. Still, you need to ensure that you find an agent who will stick by your side and isn’t actually a sub-agent on the seller’s side. This is rare but possible.

Keep in mind that legal contracts are binding, too. Because of this, you need to make sure that it is in order before signing it. You have the right to void the entire sale if you don’t like what the contract says – remember that. However, the seller also has the right to void it and this could result in you losing a lot of money in the end. Fortunately, a realtor or agent can help you through this contract and help you understand real estate in the Woodlands more before signing it.

Enchantment of The Woodlands Market Street

Enchantment of the Woodlands market street

The setting of all the modern cities is more or less as most of these cities are developed according to a plan and that is why it is always possible to find every part of these cities well managed and well organized. There is no doubt that the market and business establishments get enough attention in these cities as these market places work as the hearts of the city life.  All these cities are planned with special attention towards the placement of the market places. The city of Woodlands in Texas in the United States of America is another example of great planning that is proving to be boon for the proper development of the city. As per the noted facts, most of these developed cities from all over the world have well developed market places that are known for their extraordinary facilities and services.

The Woodlands market Street is an example of great planning of township. This street is the life line of the city as it plays a very important role in the life of every native of this city. If you ever visit to this city of Woodlands, then you must not forget to visit the Woodlands market street which is indeed the most attractive place in the entire city of Woodlands. This city street has separate areas for different types of business establishments. It is an important principle of modern planning of any city. Due to this well managed planning, it becomes easier for the people to find out the things that they are looking for as they are only required to know which area of the city market they are supposed to appear.

The Woodlands market street is wide and smooth and that helps ion the smooth flow of traffic on this extraordinary street.  The activity of the traffic authorities can be noticed all through this market street. These authorities work relentlessly and selflessly to make the most important street of the city to make it free from any traffic trouble. The flow of traffic remains closed during a certain part of the day as the business activities remain on the height during this part of the day. The Woodlands market street is probably the best example of well organized city life. This market street is like an important place of visit for the people who come to Woodlands on a personal or business trip set at the side walk cafe and visit with friends !! The Best Place to  call HOME

Top 10 streets with jaw-dropping home prices

10 Tips for a Cleaner, Safer Kitchen

 The first day of spring has come and gone. To get the cleaning season started right, we looked for the best advice on cleaning the busiest-and maybe dirtiest-room in the house: the kitchen.

For a list of what we should clean, how and when, we asked a bunch of germ experts.

The biggest surprise? People with pets are six times more likely to get salmonella-based infections. The culprit is pet bowls, particularly the water bowl. We often dump it in the sink before we start handling food.

Want to sanitize?
Professional kitchens use a sanitizing solution made with one teaspoon household bleach in four cups of water. It’s sprayed on counters and cutting boards. Experts disagree on the need to use it at home, but if you do, do it correctly: Let sprayed surfaces air-dry-drying with dish towels may recontaminate the surface. Always clean before you sanitize. If chlorine comes in contact with dirt or soil, it can no longer sanitize. Don’t use more than one teaspoon chlorine-stronger isn’t better. And change it about every five days. Chlorine dissipates quickly.

1. Microwave
Fill a bowl with two cups water and a whole lemon, cut into slices. Place it inside and microwave for two minutes, then wipe it out with paper towels. The hot water softens food spills and the lemon cuts grease and keeps the microwave smelling fresh

2. Stove and oven
Spray stove spills with an all-purpose cleaner and let stand 10 minutes for easier cleaning. Oven spills aren’t a food hazard if you regularly heat the oven to 400. Cover a fresh spill with salt until you have time to clean it.

3. Counters
Clean regularly with an all-purpose cleaner. Spray with a weak bleach solution and air-dry if needed.

4. Dishes and dishwashers
If you hand-wash dishes, be sure to air-dry them in a rack as dirty or wet dish towels can recontaminate clean dishes. To reduce soap buildup in a dishwasher, occasionally fill the soap dispenser with baking soda or place a small cup of vinegar on the top shelf, then run the dishwater empty.

5. Sink, drain and faucet handle
Clean regularly with household cleanser, especially after washing or rinsing raw meat. Don’t forget to clean the faucet handle.

6. Refrigerator
Every day, wipe down the handles, including the underside. Every week, throw out anything that’s past its date or shows age. Every three to six months, empty shelves and clean the inside with 1/4 cup baking soda in one quart warm water, then spray with a bleach solution and air-dry. Remove drawers and clean under them. Before you return the food, wipe jars to remove drips. Clean the rubber gasket inside the door to ensure a tight seal. Vacuum the coils in the back and empty and clean the drip pan if necessary.

7. Pet bowls
Find a place besides the kitchen to clean turtle or frog habitats and empty pet bowls, or clean and sanitize the sink before you start washing fresh food.

8. Cutting boards
Most scientists believe wooden cutting boards are safest, as long as they are kept clean, sanitized and dry. Studies have shown wood hampers bacteria growth, while bacteria thrive in scars on plastic. Either way, keep them clean by running them through the dishwasher, or sanitize by spritzing with a weak bleach solution. Always change boards or clean with soapy water after preparing raw food-even vegetables. They grow in dirt, after all.

9. Sponges and dish towels
Change dish towels daily, or more often if they’re wet or dirty. You can microwave a wet sponge for two minutes, but the time varies depending on the power of the microwave (and if the sponge is dry, it could catch fire). Instead, put sponges on the top rack of the dishwasher at the end of every day.

10. Cross-contamination
You know you’re not supposed to put cooked food on the same surface you used for raw food. But it’s not just a problem with cutting boards. You touch all kinds of things while you’re handling raw food: Salt and pepper shakers, cabinet handles, etc. Pay attention to what you touch so you can wipe things down. Tip: It’s not necessary to rinse raw meat and chicken-it just spreads bacteria.

Thanks to our sources: Benjamin Chapman, the extension food-safety specialist for N.C. State; David Sweat, foodborne-disease epidemiologist with the North Carolina Division of Public Health; Douglas Powell, professor of food safety at Kansas State University; and Dean Cliver and Linda Harris with the University of California-Davis.

Hope this is informative and enlightening.

-Written by Kathleen Purvis

Buying in 77382? Good Idea!

Woodlands Real Estate Trend Watch

Sellers Must be More Aggressive Now! MORE new Real Estate Inventorycoming on Market in 77382

Price War WILL happen After July 4 in 77382, 77381, 77380

WOODLANDS BUYERS NOT BUYING FAST. Home sellers in The Woodlands are in a bit of pickle, for reasons inexplicable, home buyers are not responding to the current low interest rates the way we all would have hoped. It is natural for folks to want to go ahead and put the ol’ homestead on the market to get a better one when rates are so attractive. Trouble is, so many are doing so, that the market has already become diluted.

HOME RENTALS. And we simply don’t have as many buyers moving in from the city as everyone thought we would. Or, at least they aren’t buying.they are RENTING! Generally speaking, rent demand is WAY UP from last year, about 20% higher. Good clean rentals in all price ranges are flying off the rent rolls. We have a had several Chevron long term rentals, and a few Exxon are popping around.

MORE HOMES FOR SALE THAN HOME BUYERS BUYING. Alas,not enough sales to absorb current inventory. And the inventory keeps growing!

ZIP 77382,STERLING RIDGE, ALDEN BRIDGE. Take zip code 77382 for example, this covers Sterling Ridge and Alden Bridge Villages. Look at these numbers carefully and you can easily see what I mean.

In the last 10 days, 56new listings were posted in that zip code. In those same 10 days, 7 listings sold.

In the 10 days prior to that, 44 new listings posted, with10 new sales.

Going back to May 1, in zip code 77382, there have been 126 new listings, and 46 of those are now “pending”.

Now that you are getting the picture, let’s add in the listings that were ALREADY THERE!

Springwoods Village raises residential green standards

Residential Real Estate

Springwoods Village is incorporating sustainable development concepts into its design that will touch all aspects of development, said project for developer Coventry Development Corp. in New York.

The $10 billion Springwoods Village will include 8.5 million square feet of office space, 1.2 million square feet of retail space, more than 500 hotel rooms and 4,500 to 5,000 homes.

The community is south and west of the Exxon site, on the west side of Interstate 45 near the Hardy Toll Road.

Springwoods Village’s overall development standards will require residential and commercial developers who build there to significantly reduce energy and water usage in their structures. Regulations will apply to the initial design, construction process and longterm operation.

For example, the developer wants to use low-energy LED lighting for streetlights.

“CenterPoint is just starting to investigate using those for street lights,” Simon said.“We’re working on a prototype program.”

The development standards may be an eye-opener for residential builders, said Simon.

While some have implemented green elements into previous projects, they have only scratched the surface, he said. 

A dozen or so homebuilders will be invited by Coventry in late August to compete for the chance to build in the community. About five homebuilders are expected to be selected by the end of the year, though Simon has said commercial development will take place before residential.

The Houston office of San Francisco-based Gensler architecture firm is still working on the development standards.

“They’re going to push people from what they’re used to doing,” Simon said.

The ultimate goal is to integrate the community with the area’s natural ecosystem, much like The Woodlands did in the 1970s, according to Design Workshop, the land planner and urban designer.

Denver-based Design Workshop studied the area to see which way drainage naturally occurs through the land and forest, then integrated the development pattern around that. The infrastructure will incorporate a new approach to storm water called low impact design, a project segment being handled by Houston-based Walter P Moore engineering.

Storm water will be transported through natural drainage swales to detention ponds, being cleaned by plants along the way. It’s a cleaner, more natural way for storm water to travel than through a pipe that collects sediment, Simon said.

Penland said the firm has not implemented this concept to this extent before for roadways.

“We’ve done similar things on commercial sites,” he said. “We’ve not really done it on anything of this scale.”

Houston’s Costello Inc. is designing the waste water system, which will use reclaimed wastewater for landscape irrigation and amenity ponds.

“You’re reducing your demand for potable water dramatically,” Simon said.

Some of the sustainable concepts in Springwoods Village are new; some are not. I wonder if this will be a sign of things to come for future master-planned communities and residential developments?

.NEW GREEN CONCEPTS FOR:

• streetlights

• drainage

• landscape irrigation

• storm water