Why Austin, Tex., Is a Good Place for Small Businesses

Branded by M.P. Mueller

Why Austin, Tex., Is a Good Place for Small Businesses

Recently, Austin was ranked No. 1 in "small-business vitality" for the
second year in a row in a survey by the American City Business Journals.

Texas's capital city scored high points for its quality of life, business
environment and healthy residents. Last July, Kiplinger named Austin one of
the "10 Best Cities for the Next Decade." Yes, it's true that most of the
rest of Texas thinks of Austin as that place full of crazy liberals, but
we'll take that (we don't understand why they insist on starching their
jeans).

Keeping you informed, ready to help you with all of your real estate needs
and wishing you all the best, Anne

ANNE JOHNSON-CHEVERERE

Realtor(r)

512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax

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RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com Google

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me when your friends, family, and co-workers are thinking about buying or
selling residential and investment real estate.

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Austin Housing Market Hits Bottom in 4Q 2010

This article confirms what I am personally experiencing in representing
buyers and sellers in Central Texas. This information is encouraging for
sellers and slightly painful for buyers.

Austin home prices expected to rise

Austin Business Journal - by Cody Lyon, Staff Writer
Date: Tuesday, May 10, 2011, 8:38am CDT Austin home prices are expected to begin recovering this year and grow by at
least 0.6 percent, according to an analysis from Fiserv Inc.

The Brookfield, Wis.-based financial services firm reported the average home
price in Austin falling 0.7 percent year-over-year in the fourth quarter
last year. The Fiserv Case-Shiller home price indexes are based on data and
methodologies from Fiserv and Moody's Analytics.

According to the report released on Monday, Austin home prices have been
stable since reaching bottom in the fourth quarter 2010. Fiserv said it
expects the price to increase through 2012, albeit slowly, at a rate of
about 0.4 percent.

Meanwhile, the report projects the rest of the country won't stabilize until
the third quarter 2011. Before that happens, Fiserv expects another 3
percent drop in prices throughout the first half of this year. But, by the
end of 2012, the report said home prices even in some of the hardest hit
housing markets will level out.

Fiserv Chief Economist David Stiff said "the first step toward restoring
confidence in the housing markets is an improvement in consumer sentiment,
which we expect will increase slowly through 2011 due to stronger gains and
a falling unemployment rate."

Compared to pre-recession levels, the average national home price fell 23.6
percent from the fourth quarter of 2007 to the same period in 2010. Prices
in Austin increased 1.1 percent during that same period.

Keeping you informed, ready to help you with all of your real estate needs
and wishing you the best, Anne

ANNE JOHNSON-CHEVERERE

Realtor(r)

512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax

Follow me on

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HookemHomes.com

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selling residential and investment real estate.

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Austin ranks high for, well, just about everything

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Confidence in value of homeownership persists through bust, survey shows

Confidence in value of homeownership persists through bust, survey shows

Commercial and multifamily mortgage originations grew 88% in the fourth quarter of 2010 when compared to 4Q 2009

This article from Housing Wire quoting from the Mortgage Bankers Association Fourth Quarter Commercial Real Estate-Multifamily Finance Quarterly Report  

·         Commercial and multifamily mortgage originations grew 88% in the fourth quarter of 2010 when compared to 4Q 2009 

·         Loans for conduits for CMBS (commercial backed mortgage securities) saw a 60-fold increase compared to last year’s fourth quarter

·         There was also a 170% increase in loans for life insurance companies, a 65 percent increase for Government Sponsored Enterprises (or GSEs – Fannie Mae and Freddie Mac), and loans originated for commercial bank portfolios saw a decrease of 25 percent

·         A 6,000 percent increase in origination for CMBS (not an April Fools joke). The MBA report said. "After being nearly dormant for the previous two-and-a-half years, more than $6 billion of CMBS was issued in the fourth quarter."

Austin Is An Opportunity

I ran across an article on Yahoo News Where The Richest People Live by Vanessa Wong, who based her article on information from Andrew Schiller, founder and chief executive of NeighborhoodScout.com   I really was not interested in where the richest people lived in this country but as I scanned the article I noticed Houston and Austin were mentioned.  River Oaks in Houston holds the title for the most expensive homes in Texas and then he mentions little ole Austin, which holds many titles, but not for the most expensive homes. Schiller notes that Austin real estate could have those high price tags. This information combined with all the TITLES (Green, Young, Jobs, etc.) Austin does hold -- should continue to fuel the city’s growth. 

 

Excerpts from the article:

“Size and style can determine much of a home's value, but other factors can weigh more heavily. Within a single city, the prices of similar homes can display huge differences depending on the area -- and even the street -- in which they are located. The two key drivers of value are access to work opportunities and access to amenities, says Andrew Schiller, founder and chief executive of NeighborhoodScout.com. A few streets' distance can make a difference in perceived proximity to school districts, recreational amenities, and transportation routes.”

“Exclusive communities migrate over the years as opportunities shift to new places. Beverly Hills did not develop until movie stars began moving there in the early 1900s, according to the city's website. While the most expensive place in Texas is currently the Afton Oaks-River Oaks section of Houston, whose median home value is about $1.7 million, Schiller predicts that prices in Austin will rise as government activity, job growth, and the University of Texas attract more home buyers to the area.”

“Neighborhoods near Austin and other emerging cities may not be expensive now, but the right combination of amenities and job opportunities might one day push them to the top of the price ladder.”

No April Fool's Joke - Huge Changes Coming in the Mortgage World

HUGE changes are coming this April 1^st in the mortgage industry!  If you have been thinking about buying or refinancing a home, I suggest you do it sooner than later. We all know that when changes like this take effect, the consumer is the one that hurts the most, ACT NOW!  We have ONE month to close your loan if we start now.

If you haven’t already, I recommend that you read this article (This is just ONE of the MANY changes coming up):

By Kenneth R. Harney

Fixed 30-year mortgage rates in the 5 percent range? Minimum down payments below 5 percent? Jumbo-size home loans for high-cost markets at regular interest rates? Kiss them good-bye - possibly sooner than you might guess.

Take a snapshot of today's mortgage market conditions and frame it, because it's highly likely you'll never see anything like these favorable combinations of rates and terms again. That's the inescapable conclusion emerging from the Obama administration's "white paper" on optional remedies for the two ailing giants of housing finance, Fannie Mae and Freddie Mac, along with events already underway in the national economy.

The administration's long-delayed housing report, released Feb. 11, drew a mix of catcalls and mild applause. Apartment developers praised the report's emphasis on expanding opportunities for people to rent their housing as opposed to the idea that home ownership is for everybody.

Big banks and their allies in Congress welcomed the prospect that Fannie Mae and Freddie Mac, who together account for about 60 percent of the mortgage market but have cost taxpayers a net $150 billion in bailout money in the past three years, will be heading into oblivion.

Consumer and real estate industry groups lamented the phaseout of Fannie and Freddie, which supplied steady streams of mortgage money for decades despite their recent crashes.

The report offers not only options for Congress to consider in winding down the two companies but also recommendations on more immediate "transition" measures to achieve a smaller federal footprint in the mortgage market. Some of these transitional steps require no congressional approval and therefore are likely to affect borrowers and home buyers in the months ahead. Factor these changes into your timing for any loan application or purchase you're contemplating this year:

l Higher insurance fees on FHA mortgages - another quarter of a percentage point on annual premiums. That's vitally important to people with moderate incomes and assets, especially in the African American and Hispanic communities, where FHA loans are the dominant route to home ownership. The report also hints at a possible increase in minimum down payments for FHA, currently just 3.5 percent, but provides no specifics. Any change would require congressional approval.

l Significant reductions in maximum loan amounts later this year for FHA and conventional loans eligible for purchase by Fannie or Freddie, unless Congress votes to retain the current statutory $729,750 limit for high-cost areas before it expires Oct. 1. Loans above each local market's limit - whatever the reduced ceiling turns out to be - will be considered jumbos and come with higher interest rates from private lenders.

l Raising the fees Fannie Mae and Freddie Mac charge lenders to guarantee pools of their mortgages for resale to bond investors. Lenders will automatically pass those on to borrowers as a cost of doing business. The report also calls for raising down-payment requirements at Fannie Mae and Freddie Mac to 10 percent.

l Retaining the controversial and costly add-on fees now charged by Fannie Mae and Freddie Mac that can increase the expense of obtaining even a moderate-size mortgage by thousands of dollars.

These add-ons now extend to applicants with FICO credit scores of 800 and above who are making substantial down payments. The white paper actually applauded the imposition of these fees, calling them one of several "first steps" on the path to weaning consumers off reliance on Fannie and Freddie for mortgage money.

The administration wants to not only wind down the two companies over the coming several years but also severely reduce the size of FHA's role, cutting its market share from about 30 percent to as low as 10 percent. Where will the buyers who depend upon FHA today for affordable financing turn when that sharp cut has been accomplished? That's not clear.

The white paper makes an oblique reference to a major issue bubbling on the back burner that could also push rates up: Regulators are debating what should and shouldn't be a "qualified residential mortgage" under the terms of last year's financial reform legislation. Loans that are not "qualified," in terms of down payment size and other criteria, will require extra investments by lenders when they pool them into bonds. That could raise rates for non qualified mortgages by as much as three percentage points.

Among the proposals: Make 20 percent to 30 percent down payments the minimum to meet the "qualified" test.

The worst-case scenario: If you only have enough money for a small down payment, you'll be charged significantly higher rates.

Bottom line: Get ready to pay more for mortgages, no matter what ultimately happens to Fannie and Freddie.

Texas economic growth moderate so far in 2011

Texas economic growth moderate so far in 2011

Austin Business Journal - by Barrett Goldsmith, Houston Business Journal
Date: Thursday, March 3, 2011, 9:15am CST

of 2011, fueled by continued strength in the energy sector that led to an
uptick in demand for staffing services, according to the latest Federal
Reserve Bank of Dallas Beige Book report.

The report, released March 2, said the manufacturing and non-financial
services sectors mostly saw gains, and that the commercial real estate
market improved slightly. However, the housing market remained sluggish, and
severe weather dampened a retail sector that was otherwise flat or slightly
improved.

The labor picture was slightly brighter. Some companies in accounting,
sales, legal services and energy services said they would expand their
payrolls in 2011. Wage pressures were minimal, with the exception of some
high-skilled positions.

As for the energy sector, the Dallas Fed said drilling activity remains
strong and that it has shifted away from natural gas and toward oil-directed
drilling. But it said unconventional shale plays are the dominant factor
driving U.S. activity. The rig count in the Gulf of Mexico edged up slightly
during the reporting period.

Intermodal transportation companies, which ship goods and materials via
multiple methods, reported declined cargo volumes thanks to weaker
international demand. Small-parcel shipments grew, as did railroad shipments
and container trade volume.

The commercial real estate sector sees an overall recovery beginning, but
the report said that recovery was still "fragile."

Anne

ANNE JOHNSON-CHEVERERE

Realtor(r)

512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax

Follow me on

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HookemHomes.com

RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com Google

The finest compliment I can ever receive is your referral. Please remember
me when your friends, family, and co-workers are thinking about buying or
selling residential and investment real estate.

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APARTMENT OCCUPANCY, RENTS UP IN JANUARY

If you are an owner/investor - this is great news. If you are a renter -
not so good. APARTMENT OCCUPANCY, RENTS UP IN JANUARY

CARROLLTON (ALN Apartment Data) - Apartment occupancy and rents were up in
January throughout the Texas markets covered by ALN Apartment Data.

Here is how eight Texas cities fared overall in January, according to ALN.

Occupancy,
January 2011

Change from
January 2010

Effective Rent,
January 2011

Change from
January 2010

Austin

93.6%

up 5.1%

$838

up 6.5%
Dallas

90.4%

up 4.2%

$773

up 2.5%

Fort Worth

89.2%

up 3.6%

$675

up 2.2%

Houston

87.3%

up 2.9%

$747

up 0.3%

San Antonio

90.5%

up 3.4%

$704

up 2.7%

Lubbock

92.8%

up 3.1%

$623

up 2.2%

Amarillo

91.7%

up 3%

$596

up 1.4%

Abilene

92.8%

up 2.1%

$588

up 1.3%

Corpus Christi

91.6%

up 3%

$696

up 3.1%

Anne

ANNE JOHNSON-CHEVERERE

Realtor(r)

512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax

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HookemHomes.com

RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com Google

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me when your friends, family, and co-workers are thinking about buying or
selling residential and investment real estate.

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Austin home sales up 14% in Jan.

Austin home sales up 14% in Jan.

Austin Business Journal
Date: Monday, February 21, 2011, 11:34am CST

A total 975 homes sold in the Austin area last month, or about 14 percent
more than in than January 2010, according to Multiple Listing Service data
released on Monday.

The Austin Board of Realtors said single family homes also sold for a higher
average price - about $190,000, up 6 percent from last year. Properties
spent an average 93 days on the market, 11 percent longer than January 2010.

At the same time, new listings were down 14 percent in January this year
compared with 2010. Active listings were down 5 percent. "The latest figures show that we are seeing the economic recovery continue
in Austin," Judith Bundschuh, chairwoman of the Austin Board of Realtors
trade group.

The shift is a welcomed change for Austin, where single-family
home sales were down 5 percent 2010.

"Demand and prices are strong, but they should expect to be patient to
achieve full value. Buyers should know that fewer listings combined with
increased demand could mean they will encounter more competition for
properties."

The report is in line with national trends. The National
Association of Realtors reported last month its
Pending Home Sales Index, which measures signed purchase contracts but not
closed sales, rose 2 percent nationwide. In the South, the region that
includes Texas, pending home sales jumped 11.5 percent in December.

Keeping you informed, ready to take care of all your real estate needs and
wishing you the best, Anne

ANNE JOHNSON-CHEVERERE

Realtor(r)

512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax

Follow me on

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HookemHomes.com

RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com Search All Listings

The finest compliment I can ever receive is your referral. Please remember
me when your friends, family, and co-workers are thinking about buying or
selling residential and investment real estate.

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Austin Area Small Business Owners - Help is Here.

The Small Business Development Program, developed by the City of Austin is in full swing and provides assistance and business solutions to emerging small business.

The office is centrally located at One Texas Center, 505 Barton Springs Road and as the name implies the organization is available to counsel and advice all in-area small business owners to strengthen capability and survivability, especially during these challenging times.

In addition to providing solid information to business owners, the organization has a referral program to direct individuals to the resources they need to problem solve and grow in to our market.  Their technical assistance arm– BizAid Program, a one-on-one coaching program of BCL of Texas, a nonprofit group, is a great resource for the small business owner needing specific skills in areas from marketing to taxes. Classes are required for this program and are offered every Tuesday from 9 A.M. to 10:30 A.M.

The also offer special events:

 March 8th

The 7 Most Important Secrets of Small Business Success 

March 9th

Keep Your Eye on the Ball: Make Your Cash Flow Work for You 

My hat is off to the City of Austin for providing help where big help is needed – the small business owner. 

Expect Home Designs To Change

The home of the future doesn’t include Jetson-style hovercrafts or robotic maids — yet — but there are some key changes worth looking for if you’re a builder.

Based on responses to a recent survey by the National Association of Home Builders (NAHB), here are some ways in which builders can expect homes to change by as early as 2015:

• Single-family homes will get smaller (74 percent of respondents said).
• Homes will have more “green” features (68 percent).
• Homes will have more technology features (29 percent).
• Homes will have more universal access features (20 percent).
• Homes will have more outdoor living features, such as kitchens and fireplaces (10 percent).
• The average home size will be roughly 2,150 sf.
• Living rooms will merge with other spaces in the home (52 percent), vanish to save on square footage (30 percent), or become a parlor/retreat/library or music room (13 percent).
• If the living room doesn’t vanish, it will likely decrease in size (76 percent).
• Also downsizing are the entry foyer (66 percent) and dining room (63 percent).
• Features “very likely” to be included in a new home in 2015 include a kitchen-living room combo (“great room”), walk-in closet in master bedroom, laundry room and two-car garage.
• “Unlikely” features include three or more bathrooms, mudroom, unheated porch, dining room, skylights, three-car garage, four or more bedrooms, media room and two master bedroom suites.
• Home buyers are “somewhat likely” to want universal design features such as step-less entries, three-foot-wide doorways and four-foot-wide hallways, step-less showers that have seating, non-slip floor surfaces and grab bars in bathrooms.
• People seem likely to lavish more attention on the kitchen, ensuring that room will retain its status as the home’s social center. Survey respondents said they are “very likely” to want double sinks, recessed lighting, table space for eating and breakfast bars. They’re “somewhat likely” to want a central island, walk-in pantry, recycling center and desk/computer area. 

I see the same trends in home buying.  

Austin - Texas -- All Good

This aired last Friday evening on Katie Couric's news program! http://www.cbsnews.com/video/watch/?id=7224282n

&tag=mncol;lst;1

And then - there's another "top of the list" for TEXAS

Texas tops the list in U.S. for sixth straight year, followed by Colorado
and Florida

CHICAGO, Jan. 3, 2011 /PRNewswire/ -- Everything's bigger in Texas -
including its appeal as a destination for residents in 2010, according to
Allied Van Lines' 43rd Annual Magnet States Report released today. For the sixth year in a row, Texas eclipsed every other state and took the
lead as the No. 1 magnet state in 2010 based on Allied's report, which
tracks U.S. migration patterns. Texas realized the highest net relocation gain (inbound moves minus outbound
moves performed by Allied Van Lines, one of the world's largest moving
companies) of 1,640, which is lower than the nearly 2,000 families it
attracted in 2009, but it far outpaced all other states. Colorado came in
second place, with net relocation gains of just over 400 and Florida, South
Carolina and Arizona rounded out the top five states with the largest net
relocation gains. "Today there are more Fortune 500 companies located in Texas than any other
state in the union," said Bill Dircks, president of Berger Transfer &
Storage, Inc. "With our branch locations in Austin, Dallas, Houston and San
Antonio, we've serviced a large number of relocations into the state this
past year. A healthy business climate, coupled with family-friendly cities,
makes Texas a very attractive place to work and live." "Allied Van Lines experienced modest growth in 2010, and the trends noted in
the Magnet States report are consistent with what we've seen when the
economy begins to emerge from a recessionary period," said Bill Lyon, Vice
President and General Manager, Allied Van Lines. "Relocation for employment
is the leading motivation for an individual to move." According to the Texas Comptroller's office, Texas' position compared to
other states remains strong in spite of national economic slowdowns. Thanks
to a diverse, strong economy, employment in Texas has weathered the storm
better than most other states. The Texas unemployment rate has been at or
below the national rate for 45 consecutive months and unlike most states,
Texas is currently adding jobs - up 172,800 jobs from October 2009 to
October 2010.

Texas logged just under 9,600 total shipments and ranked third behind
California (about 12,300 total shipments) and Florida (about 9,900 total
shipments). California secured its title once again as "most mobile state,"
with the highest volume of inbound and outbound shipments by international
mover Allied Van Lines. Keeping you informed, ready to help you with your real estate needs and
wishing you all the best, Anne

ANNE JOHNSON-CHEVERERE

Realtor(r)

512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax

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RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com Search All Listings

The finest compliment I can ever receive is your referral. Please remember
me when your friends, family, and co-workers are thinking about buying or
selling residential and investment real estate.

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Texans - Funds Are Running Out On The Appliance Rebate Program

Since December 20, 2010, the Texas Appliance Mail-In Rebate Program has been accepting applications. Approximately $18.5 million was earmarked for the mail-in rebate program, which will remain open until the funds are depleted. 

So if your frig, washer/dryer, hot water heater, AC, heat pump and microwave are nearing replacement time – buy Energy Star Rated appliances and get your rebate. 

I thought a review of where the funds stand as of today - January 7, 2011 -- will be helpful for all those who are interested in participating in the appliance rebate program.  Here goes:

 Estimated Rebate Funds Remaining

$8,817,339

 Rebate Funds Already Approved

$521,445

 Estimated Rebate Funds
Awaiting Validation

$9,161,216

 Days Program Has
Been Open:

19

 Visit the web site (noted above) for all program details and claim your savings – up to $1,000 on central AC systems.  You can download an application and mail it in.  Be patient – it will take 6 to 8 weeks to receive the rebate. 

Has Austin, Texas Fallen from Grace?

Says who?

Well, so says the Harris Interactive Poll who conducted a poll for Forbes, recently asking more than 2,000 adults from across the US to name the coolest metropolitan areas to live. 

 The results put New York and Las Vegas in a tie for 1^st place with Seattle, Chicago, San Francisco, Orlando, San Diego, Los Angeles, Miami and Washington DC following – in descending order. 

No not one Texas cities made the hip list, but Texas dominates --  especially Austin -- all other lists from Kiplinger’s to Entrepreneur. This could explain why Katie Couric is traveling to Austin to find out just why Austin has made so many Top 10 list during the past year.

Tune to CBS in this Friday, Jan. 7, at 5:30 p.m. to see it for yourself.

Here is what Katie and the CBS news team have been reading recently. 

Earlier this month, Austin was deemed to have the second-strongest job market in the country by the Milken Institute (behind only Killeen).

That backs up another list in July that put Austin among the top job-generating cities.

Austin was picked as the No. 1 best city to live in for the next 10 years in a Kiplinger’s Personal Finance ranking in May.

Also in May, Austin was listed among the country’s healthiest cities on two other lists.

The Austin area tied for first on a Forbes list of large metros where the recession is easing.

A CNN/Money study labeled Austin as recession-proof.

Austinites have the ninth-best “quality of life,” according to Portfolio.com study in May.

Austin was ranked the third-best city to move to in the United States, according to a RelocateAmerica.com report about seven months ago.

Austin was picked as the nation’s most progressive and proactive entrepreneurial center in a July article from Entrepreneur.com.
Austin is the third-best city for young entrepreneurs, says Under 30 CEO.
Entrepreneur magazine ranked Austin a top creative center in July.
Austin ranks as the nation’s fifth-best city for new college graduates in the latest annual listing by Bloomberg Businessweek.
Austin was deemed by Men’s Health to be America’s most sex-happy city.
Perhaps consequently, Austin was Yahoo Travel’s third-best city for singles earlier this year.
Austin did well on a Forbes list in June highlighting the best cities for young professionals.
We have some of the cleanest air in the country, according to another list.
Austin is the best city for Hispanics, according to Popular Hispanics.
When it comes to live music, Austin is No. 3 in the U.S., according to MSNBC.com.
And just weeks ago, Austin residents were ranked the 7th brainiest in the U.S. by Daily Beast.
So everybody living in Austin or considering calling Central Texas home – chill out.  Austin is in great form, despite begin ousted from the Harris Interactive’s top-desired cities list. But of course, I don’t have to tell my fellow citizens to chill. According to a list last month, Austin is one of the least-stressed cities in the U.S.

Just Thinking About The Happiest People And ......

I was thinking about starting the New Year by sharing some weighty information on Austin, Texas and where the economic indicators are pointing concerning the real estate market in Central Texas. 
After doing my home work and reading numerous reports, noting the sources and appropriate web addresses bookmarked, I came across a wonderful and short  video clip in my Early To Rise newsletter that caught my attention.  Like many others, I have read the words before and thought that's cool and something I should remember. 
For some reason this morning the video made me pause and think -- much like Mass this morning where I learned more about the 3 Magi's who were seeking to honor the Christ child. Really interesting by the way. 
I put my blog concerning economic condition, real estate and the mortgage industry aside(for today) and decided to share the video clip in hopes that many others will pause and reflect on the message " the happiest people in the world don't have the best of everything... they just make the best of everything".
Watch  here and Happy New Year! I love my coffee.