Houston Real Estate Blog

From the monthly archives:

April 2010

Once a separate nation, Texas has recently been behaving more like an independent economic republic than a regular state. While it hasn’t been immune to the problems plaguing the nation, the Texas housing market, employment rate, and overall economic growth are relatively strong. Chalk some of this up to accidents of geology and geography. But Texan prosperity also reflects the conscious efforts of a once-parochial place to embrace globalization.

On several measures of economic stress, Texas is doing quite well. The state unemployment rate is 8.2 percent—high, but still one many states would envy. (California’s is 12.5 percent; Michigan’s is 14.1 percent.) It entered recession later than the rest of the country—Texas was adding jobs through August 2008—and started slowly adding jobs again last fall, thanks mostly to its great position in the largely recession-proof energy industry.

The Texas housing market also has fared better than many. The mortgage delinquency rate (the portion of borrowers three months behind on payments) is 5.78 percent, compared with 8.78 nationwide, according to First American CoreLogic. That’s partly because relaxed zoning codes and abundant land kept both price appreciation and speculation down. “House prices didn’t experience a bubble in the same way as the rest of the nation,” said Anil Kumar, senior economist at the Federal Reserve Bank of Dallas. But it’s also because of two attributes not commonly associated with the Longhorn State: financial restraint and comparatively strong regulation. Unlike many of its neighbors, Texas has state laws that prohibited consumers from using home-equity lines of credit to increase borrowing to more than 80 percent of the value of their homes. The upshot: Dallas housing prices have fallen only 7 percent from their 2007 peak, according to the Case-Shiller index.

read the entire article…

Home s sales rose more than expected in March. reversing three months of declines, as government incentives drew in buyers and kicked off what’s expected to be a strong spring selling season.

The National Association of Realtors says sales of previously occupied homes rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million last month, the highest level since December. February’s sales figures were revised downward slightly to 5.01 million.

Sales had been expected to rise about 5.2 per cent to 5.28 million~ according to economists surveyed by Thomson Reuters.

The results show the housing market may be stabilizing after a devastating bust. But the true test will be whether the market can stand on its own after federal tax credits expire at the end of this month .

For more information, visit washingtonpost.com

http://link.email.washingtonpost.com/r/C718XW/F5X00/W8VI9W/NGRRWO/PBFDN/KI/t

Hi Everyone:

I would love for you all to forward this to your friends, clients, family, employees and business associates to get them to participate in Lemonade Day..thank you for your help!  

How about writing on your wall in facebook?

As a fellow Lemonade Day supporter – may I ask a favor?

 Lemonade Day is a great community wide program where we can all show Houston’s Youth that we care about their future.  We can either teach them business or buy lemonade from their business.

 Lemonade Day is a nationwide event that teaches kids the entrepreneurial skills they need to be successful in the future. Youth learn to set a goals, make a plan, find an investor, sell a product, serve customers, make their own money, save for the future and give back to the community.  All in a fun, family oriented community wide event.

 Lemonade Day is on Sunday May 2, 2010. Youth ages 3 to 18 can participate and set up their stands at any location they choose. 

 Would you help us change the lives of 50,000 children this year in Houston?

 Anyone can register online by visiting LemonadeDay.org.

 Thank you for your help and consideration.

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