One of my builders passed along a link to a video from one of the major news stations that shows a map of the country and where the "recession" is and where there is expansion...and guess what - TEXAS is one of the best places on the map.  Pay attention to the comments about moving to Texas as well...so now is still the time to buy in Liberty Hill, or Georgetown, or Leander, or Bertram, or any other area in the Central Texas/Hill Country area!!

http://cosmos.bcst.yahoo.com/up/player/popup/index.php?cl=10347932

Among all the negative news about the economy, housing, lenders, etc., I ran across an article that was sent out from The Williamson County Association of Realtors that talks about our county still being one of the fastest growing counties in the state.  Which again tells us our current real estate market is doing better than most!  I hope you enjoy the information below:

Williamson County Still High Growth Rate

The Texas State Data Center recently released population estimates for all cities and counties in Texas.
According to the report, the Austin-Round Rock Metropolitan Statistical Area, including Travis, Williamson, Hays, Bastrop and Caldwell counties, grew by 39,000 residents from Jan. 1, 2007 to Jan. 1, 2008 - a growth rate of 2.5 percent. This was slower than 2006's 4.4 percent growth, but the second-highest rate in 2007 among 25 MSAs in Texas.
The TSDC also estimated Williamson County ranked fifth among Texas counties with the highest percentage of population change in 2007. The county added 21,482 residents last year, adding to its status as the county with the second-highest growth rate in Texas since 2000. -Texas State Data Center 

I ran across the following article from Kiplinger's magazine which named Austin in the top 10 places to live, work, and play (#6).  Of course we already know how great it is to live in or close to Austin and the Texas Hill Country, including Liberty Hill, Leander, Georgetown, and Bertram TX. 

2008 BEST CITIES

Best Cities to Live, Work and Play

These ten great places will only get better.

From Kiplinger's Personal Finance magazine

Our approach this year to picking the ten best cities in which to live and work was simple: Look for places with strong economies and abundant jobs, then demand reasonable living costs and plenty of fun things to do. When we ran the numbers, some of the names that popped up made us do a double take at first. So we hit the road to meet movers, shakers and regular folks, experience the ambience and take in the sights.

Copy and paste in your browser to read the full article on The 2008 Best Cities At a Glance: (or simply read the Kiplinger report on Austin, below) http://www.kiplinger.com/magazine/archives/2008/07/ranking-the-2008-best-cities.html

We discovered that our numbers guru, Kevin Stolarick, hadn't steered us wrong. Stolarick, research director at the Martin Prosperity Institute, a think tank that studies economic prosperity, says: "Our formula highlights cities not just with strong past performance, but also with all the ingredients for future success." One key to a bright future is a healthy shot of people in the creative class. People in creative fields -- scientists, engineers, architects, educators, writers, artists and entertainers -- are catalysts of vitality and livability in a city.

The cities that made our list also represent larger surrounding areas. And because we understand that city living isn't for everyone, we've highlighted some great suburbs, too.

Pack a bag and join us on a tour of the Best Cities for 2008 and prepare for some surprises.

No. 1: Houston,Texas

No. 2: Raleigh, N.C.

No. 3: Omaha, Neb.

No. 4: Boise, Idaho

No. 5: Colorado Springs, Colo.

No. 6: Austin, Texas Population: 1,506,425
Population Growth Since 2000: 17%
Percentage of Workforce in Creative Class: 36.5%
Cost-of-Living Index: 92.8 (100 being national average)
Median Household Income: $52,882
Income Growth Since 2000: 12.2%

Don’t think for a minute that the laid-back, rockers-and-tacos atmosphere of downtown Austin is all this metro area has to offer. In fact, Austin and the surrounding region offer a strong economy, a solid, moderately priced housing market, a growing population and enough natural beauty to justify staying outside even if the weather weren’t great -- which, by the way, it is.

Already home to the University of Texas, the state capitol and a bustling music scene, Austin has lately expanded its economy to include digital media, green energy and biotech, creating 114,000 in the area in the last five years. Meanwhile, downtown Austin is in transformation mode. Redevelopment includes the Second Street District and more than a dozen residential developments. Among them: 360, where a two-bedroom, two-bath condo with a lake view starts at about $400,000.

City life not to your liking? Head to Round Rock, an 18.5 mile hike up I-35. This family-oriented suburb boasts topnotch public schools along with a local economy that includes Dell, three hospitals and a brisk business in sports tourism thanks to the playing fields it rents out for tournaments. As for housing, it’s a deal: For $270,000, you can buy a four-bedroom, three-bathroom house in the Teravista community and enjoy its rolling hills, 18-hole golf course, clubhouse and a pool.

Down the road apiece, in the tiny town of Lago Vista, residents enjoy access to Lake Travis in the spectacular Texas Hill Country setting. Once mostly a resort community for retirees, this 11-mile stretch of land increasingly appeals to young families who like the small-town atmosphere and don’t mind commuting to Northwest Austin or to Round Rock.

 

 

No. 7: Fayetteville, Ark.

No. 8: Sacramento, Calif.

No. 9: Des Moines, Iowa

No. 10: Provo, Utah

 

I just wanted to take a moment to reflect and to congratulate our Liberty Hill Football program...do you all realize that they have won 33 games in a row...the longest active winning streak in the state of Texas!  That is quite an accomplishment for any team.  Liberty Hill ISD should be proud of not only the kids who are involved, but the coaching staff as well.  This goes to show what an incredible program they have built here and shows what hard work and determination on the part of the coaches and players can do!  All I can say is Good Luck in your quest for a 3-Peat to the State Championship!!!

I did not have a chance to go, but one of my title reps sent me some interesting and positive news about our LOCAL real estate makret.  Dr. Mark Dotzour of the Texas A&M Real Estate Center gave a Market Outlook presentation Wednesday at Realty Roundup.  In general, Dr. Dotzour has some serious concerns about the government’s proposed solutions to economic woes, but does think the Central Texas economy is holding steady, particularly with respect to jobs, property values and population growth. Please take special note about the comment that our market shows no sign of prices dropping and have not dropped in 18 years.  Also he notes that it is NOT advisable to wait to buy...NOW IS THE TIME TO BUY!!!  Below are a few specifics she sent to me. 

Dr. Mark Dotzour

ABOR Realty Roundup

Oct. 22^nd, 2008

 

-          Dr. Dotzour began with an indictment of local news media, and a recent headline in Austin that projected a decline in real estate values.  Dotzour said that the “evidence” is merely speculation on the part of two analysts, and that the headline should have read “Two guys speculate that home prices could possibly drop sometime in the future.”  He cited Austin MLS statistics that show that prices have historically remained on a slow and steady increase for people willing to hold onto property at least 3-5 years, and concluded that anyone who tells a buyer with the desire and means to purchase property to wait is doing them a great disservice.

-          Regarding inventory of homes for sales in Austin, Dotzour said we’re holding at 6-6.5 months, which he said is the point where we consider a market “balanced” between the interests of buyer and seller.  According to Dotzour, there is no time in the last 18 years when home values did not rise overall in Austin.

-          He said there will continue to be a lot of homes sold in Texas, where we still have positive job growth, and a population that is expected to grow 13-million by the year 2030. 

-          Dotzour said we should react positively to national and local news that building permits are down.  This means that we’re adjusting the inventory to meet demand, which will help prices stabilize.

-          On the national economic front, Dotzour said there are several “shoes” that have to drop on the banking community before we hit bottom, including the full picture of the effects of the sub-prime lending debacle, defaults on credit cards and auto loans, and the real extent of credit default swaps.  This last issue is just now starting to emerge into the light, and could dwarf the problems created by sub-prime loans. 

-          Dotzour was not in favor of many of the economic stimulus proposals in Washington, and suggested that more useful elements would be a tax credit for home purchases, and a 0% capital gains tax for investors who will hold property for 5 years.

-          He projected some favorable economic shifts in April or May, as corporate profits begin to recover, oil prices stabilize, foreclosures pass their peak and the political uncertainty is resolved.

 

After just finishing up our annual TEAM Retreat meeting, I am almost overwhelmed with ideas for our current market.  I want so bad to be able to get the word out past the NEGATIVE media, that our local real estate market is still doing fine!  AND it is still an incredible time to buy, especially at this time of the year.  Plus we are unsure of what is to come in the next few months after the election is over and what the economy will do...but what I do know now is that interest rates are still at historic lows and that may not last.  There are some great incentives with loans including FHA, 100% USDA loans, first time buyer $7500 Tax Credit, and more!!!  One of our lenders, Cheryl New, sent out an email with 8 Great reasons to buy right now that I wanted to include below...so if you are on the fence about buying or know anyone who is, call us!!!  It would be our pleasure to help them buy in this great time to buy market!!!

As the market continues to adjust to the changing economy, a number of factors are coming together in the housing market to provide unique opportunities for homebuyers and investors. For those looking to take advantage of falling interest rates, excess inventory and government incentives, there’s no time like the present.

One factor that’s leading many buyers to act now is the pending increase in minimum down payments required for FHA loans. On January 1st, 2009, the minimum down payment will jump from 3% to 3.5%--adding an average of $1,000 to the down payment on a new home. Buyers who close on their home before the end of 2008 can still take advantage of the lower down payment requirements.

8 REASONS TO PURCHASE A HOME NOW:

• Increasing Rent
• Low Interest Rates
• Tax Incentives
• Government Programs & Credits
• Great Selection
• Competitive Home Prices
• Investment & Appreciation
• Quality service from your realtor and lender!

 

Cheryl New

Branch Manager

512-517-7671 Cell

512-583-1040 FAX 

 

I wanted to pass along our newest price reduction on a great house in Carrington Ranch in Liberty Hill, TX.  111 Rockhouse is a great custom house on over 1 acre!.  The price has been adjusted to $275,000...please check out more here:

http://shanetwhiteteam.com/inc/pmisc?pid=502

 

Our team has just listed a great hill country property with magnificent views!  If you are looking for privacy, this is the place...it is located at the end of Canyon Ridge Springs.  This house even has an astronomical observatory to take advantage of the clear night skies.  Check out more about this home for sale in Marble Falls here:

http://shanetwhiteteam.com/inc/pmisc?pid=517

Today as I sat down to think about what to BLOG, the same thing kept coming across my mind.  As we face economic uncertainty, turmoil in the stock market, banks having to be rescued, an absurd $700 Billion Bailout from the government, etc., I realize that many of us are concerned and worried about what is to come.  In the real estate industry specifically, we worry about buyers being able to get loans...buyers still wanting to buy, sellers pricing their properties where the market tells them to price, where's the next deal coming from.  Others I'm sure worry about their retirement plans, college funds, etc.

But then I remembered a great quote and concept from a very wise man...Howard Brinton.  He was speaking at his annual STAR POWER conference this summer and in his closing remarks, he stated something that really struck me.  He said that one of the things that gets in our way of becoming great is Worry.  But as he spoke and began to explain what worry was, it became very clear to me that most of what we worry about are things we have NO CONTROL over.  And then he said, "you can't worry about the things you have no control over."  So what does that mean for us.  Well, we have no control over the stock market, the banks, the decisions that the government makes, how fast the economy may pick up, etc.  We have control over the actions that we can take. 

For me in the real estate industry, that could mean how many calls I make to prospect for new business.  I can't control if someone decides to buy or sell, but I can make the calls to find out if they want to or know anyone who needs to.  I can control how many contacts I make through direct mail or personal notes.  I can try to control my expenses.  What I can't control is the types of mortgage programs there might be available, and whether or not a buyer will qualify.  I can't control the outcome of anything, only the activities that will lead to the outcomes.  So, instead of worrying about things I can't control, I should focus on things I can.

And I think that goes for all of us.  Instead of sitting around worrying, let's figure out what we can do where our efforts will lead to results.  Think about what you have control over...at work, at home, maybe in your spending habits, how we spend our time.  And maybe this is a time where we realize other things that are important in our lives, like spending more time with our families and children, or volunteering more.  For me, I know that God will not put me in any situation that I can't handle, and that he will provide for every NEED that I will have (I didn't say every want or desire, but NEED)!!! 

Remember that there are cycles in any market, and that there will be a recovery.  It is our fear that fuels the fire most of the time, so if we can quit worrying, we can look for the positive outcomes that are to come!!!

I wish you the best, now go out and make it a great day!!!