Texas Coast Real Estate
11.7K views | +0 today
Follow
Texas Coast Real Estate
Texas Coast Real Estate Issues
Curated by Michael Stuart
Your new post is loading...
Your new post is loading...
Scooped by Michael Stuart
Scoop.it!

Texas economy is on the upswing, and lawmaker must support that with good legislation

Texas has turned a corner, economists say.

 

“Texas’ $217 billion budget for the next two years is neutral, meaning it won’t have a positive or negative effect on the state’s overall credit rating, according to S&P Global Inc., which also projected Texas employment will continue to grow at about 2 percent annually, outpacing the national average,” the Austin Business Journal reported last week.

 

“The state got high marks for new transportation spending from S&P and a slightly negative assessment on the decision to delay paying for Medicaid case growth over the next two years. S&P, a New York City-based financial info and analytics company, currently rates Texas’ general obligation debt as AAA, the highest rank possible, signaling TEXAS is extremely likely to pay back the money.”

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

10 ways you’re wasting money on travel

10 ways you’re wasting money on travel | Texas Coast Real Estate | Scoop.it

From booking at the wrong time to missing hidden fees, here are 10 ways you're wasting money on travel. Join loyalty programs and call for last minute deals.

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Houston leads 2010-2016 population growth among U.S. metros on Census Bureau report - Houston Business Journal

Houston leads 2010-2016 population growth among U.S. metros on Census Bureau report - Houston Business Journal | Texas Coast Real Estate | Scoop.it
Eleven major metropolitan areas, led by the Texas duo of Houston and Dallas-Fort Worth, are growing at a pace of more than 1,000 persons per week, based on population estimates issued this morning by the U.S. Census Bureau.
more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Easy Ways to Save While Traveling on Spring Break

Think of winter's chill as nature's way of revving you up for spring break trips to warm and wonderful destinations. Whether you are a college student ready to party or a family seeking some fu
more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

A small Texas town beats San Francisco on this key metric for startups

A small Texas town beats San Francisco on this key metric for startups | Texas Coast Real Estate | Scoop.it

Texas bests San Francisco in top 10 list of U.S. cities with the most jobs from startups as a percentage of total jobs.

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Time for Texas to get street-smart

Time for Texas to get street-smart | Texas Coast Real Estate | Scoop.it

Foot traffic along Houston Street in downtown San Antonio. Future investment should focus on sidewalks and resident-friendly amenities in the city.

Michael Stuart's insight:

Time for the Texas coast to get street smart.

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Construction booms across Port Aransas

Construction booms across Port Aransas | Texas Coast Real Estate | Scoop.it

Construction continues to steam along in Port Aransas. City records show  development moving at a brisk rate.

Port Aransas is “a solid, healthy market with willing sellers and willing buyers,” Local Developer Lorette said. “These are individuals, people wanting to have a part of Port Aransas and come and enjoy it”.

Many buyers are longtime Port Aransas residents who see a strengthening economy happening all around them.“ They see prices going up and figure, if we’re going to buy something else, we’d better do it now.”

  • The Port Aransas real estate market is growing increasingly attractive to the San Antonio market. The South Padre Island market still is strong, but it’s not as attractive to San Antonio as it used to be. “You can’t go have fun in Mexico, because it’s not safe,” Lorette said.
  • Another Port Aransas growth factor lies in the fact that more and more people are moving to Texas and discovering Port Aransas. And many Houston area residents decided they like Port Aransas after visiting Mustang Island instead of Galveston in the wake of Hurricane Ike, which struck the northern Texas coast in 2008.
  • Port Aransas is attractive partly because it still contains relatively inexpensive property that’s close to the beach, compared to Florida, California and other coastal locations around the U.S.

Oil money is a big part of what’s driving the market, both directly and indirectly. Across South Texas, Eagle Ford shale gas and oil drilling has produced billions of dollars in wealth in the past several years. Many who have profited from the frenzied drilling are just now finding the time to take some time off and spend some serious time in Port Aransas.

Customers coming from Austin and San Antonio, that whole area,” said Harris, owner of Bay Area Title and Brite Star Construction. “They love Port Aransas, and they want to be in Port Aransas. We’ve seen a huge increase in traffic looking to buy property.” People see Port Aransas real estate as a safe investment, he said.

  • “It’s an investor’s dream, because you can use it part of the time and rent it when you’re not here,” Harris said.
  • Most new owners of short-term rental properties in Port Aransas never have to dip into their existing funds to make mortgage payments because rental income takes care of it, he said. Harris said he knows some folks who are a year ahead on payments right now.

The development firm of Koontz McCombs began construction on Village North, a residential development planned within the newly named Newport Dunes at Palmilla Beach golf course.

Further south down The Island Road, construction is underway on Two Town Center, a 15-unit condominium at the popular Cinnamon Shore development, said Lee Ann Peters, sales director at Cinnamon Shore.

Eighteen single-family homes also are under construction at Cinnamon Shore, Peters said.  A $1 million community swimming pool complex opened last spring at Cinnamon Shore. It’s the development’s second such pool.

Via http://www.portasouthjetty.com/news/2013-05-30/Front_Page/Construction_booms_across_Port_Aransas.html

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Houston Ranks In Top 3 U.S. Condo Markets

Houston Ranks In Top 3 U.S. Condo Markets | Texas Coast Real Estate | Scoop.it

While the national condo market is recovering, analyzing condo sales activity in the top 25 condo markets by total sales reveals some very different patterns at the metro level measure. Similar to the impact it had on the rest of the market, the interest-rate rise in the second half of 2013 caused condo sales to cool off somewhat, and by June 2014 only 14 of those same markets were exhibiting increases year over year. As of June 2014, Denver led the pack with condo sales that were 16.9 percent higher than a year ago, followed by Houston (15.5 percent) and Naples, Fla. (10.8 percent). Examining a variety of real estate transaction-related data reveals that cash sales have had the largest impact on changes in condo sales. This should not be a surprise given that the cash share of condo sales was 53 percent in the first half of 2014. In fact, in some of the markets, condo cash sales almost exclusively account for all sales. For example, three of the top 25 condo markets had condo cash sales that exceeded 85 percent. Via: http://www.corelogic.com/blog/authors/sam-khater/2014/09/the-long-term-rise-of-condo-sales.aspx#

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

The U.S. Gulf Coast at Night

The U.S. Gulf Coast at Night | Texas Coast Real Estate | Scoop.it

The U.S. Gulf Coast at Night

One of the Expedition 40 crew members aboard the International Space Station photographed this nighttime image showing city lights in at least half a dozen southern states from some 225 miles above the home planet. Lights from areas in the Gulf Coast states of Texas, Louisiana, Mississippi and Alabama, as well as some of the states that border them on the north, are visible.

Image Credit: NASA

Page Last Updated: August 15th, 2014
Page Editor: Jerry Wright

Source: The U.S. Gulf Coast at Night

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Business owners expect windfall after Schlitterbahn opens on Padre Island Corpus Christi

Business owners expect windfall after Schlitterbahn opens on Padre Island Corpus Christi | Texas Coast Real Estate | Scoop.it

This will be a project that the island, the entire community, will be proud of  said Jeff Henry Schlitterbahn.

Attractions:

  • Four “Master Blaster” uphill water coasters;
  • Three children’s areas;
  • A “Shoot The Chute” log ride, a first of its kind among Schlitterbahn parks;
  • A “Boogie Bahn” inland surfing ride;
  • Three heated swim-up bars for adults;
  • Two wave pools.

The $40 million resort on Padre Island will be the fifth water park for Schlitterbahn, whose deal with the city includes almost $120 million in grants during the next 25 years.

Family shot at Schlitterbahn

Schlitterbahn expects 300,000 visitors to come to the park each year.

The project also includes some lodging. Terri Adams, Schlitterbahn’s chief operating officer, said the park will feature “a number of” Treehaus luxury suites. She would not say if the company plans to negotiate with a hotel company for more beds or build a hotel itself.

Maybeth Christensen, executive coordinator of the Padre Isles Property Owners Association, said businesses generally continue to support the project, hoping it will touch off economic growth.

Corpus Christi in 2012 hosted 7.1 million visitors, who spent $1.1 billion on tourism-related purchases and services, said Colette Rye, communications director for the Corpus Christi Convention and Visitors Bureau. Some of that money eventually is used to make local improvements.

 

Jim Lee chairs the Department of Decision Sciences and Economics at Texas A&M University-Corpus Christi, and is studying the financial impact the water park and a host of other major development projects will have on the region.

Lee said he recognizes the project will be a boon to further development for an island community that still is without a full-scale grocery store.

“It’s a classic dilemma in economic development: More economic development often means an intrusion on nature,” Lee said. “Most residents choose to live on the island for its special lifestyle that is connected with nature. Ultimately, I think it boils down to the concept of smart growth, which is to preserve the quality of our lifestyle while allowing for more development.”

The project will be positive for the area in the long run leading to business growth of all kinds. It’s going to give the island a boost, especially in the summer time, making the island a destination place and first class resort for the Texas coast.

via Business owners expect windfall after Schlitterbahn opens on Padre Island

Related articles
more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Homes with this color bathroom sell for $5,400 more

Homes with this color bathroom sell for $5,400 more | Texas Coast Real Estate | Scoop.it
A $50 gallon of blue paint can result in a huge return on investment for homeowners, according to Zillow's 2017 Paint Color Analysis study.
more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Texas bill that offers loan funding to ports passes Senate committee

Texas bill that offers loan funding to ports passes Senate committee | Texas Coast Real Estate | Scoop.it

A bill to provide a modest revolving loan fund for Texas ports had smooth sailing through the Senate Transportation Committee last week, setting it on a positive course as it heads to the full Senate for consideration.

Senate Bill 28, sponsored by Sen. Brandon Creighton, R-Conroe, puts action behind a port study completed by the Texas Department of Transportation task force since the 2015 legislative session ended. The bill, which passed through the Senate committee with an 8-0 vote, designates as much as $20 million per year to supplement existing dredging and road projects around state ports.

The bill carries some weight, considering how important exports are to the state's economy. According to the Texas Ports Association, Texas is the nation’s biggest exporting state, with 563 million tons of cargo traveling through Texas ports each year. The industry is tied to 1.5 million jobs and $369 billion annually in economic activity in Texas, which has worried officials in many Texas cities considering the Trump administration's campaign promise to renegotiate the North American Free Trade Agreement (NAFTA).

Freeport, about 60 miles south of Houston, is positioning itself as part of the feeder system of cargo movement spurred by the newly expanded Panama Canal, said Port of Freeport CEO Phyllis Saathoff. 

The Texas Department of Transportation would be charged with administering the loan fund if Creighton’s bill passes both chambers. According to the bill, only those dredging projects approved by the U.S. Army Corps of Engineers would be eligible for the funding.

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Environmentalists urge French bank not to finance Texas fracking project

Environmentalists urge French bank not to finance Texas fracking project | Texas Coast Real Estate | Scoop.it
Activist points to ‘hypocrisy’ in BNP Paribas’s involvement in south Texas export terminal, given bank’s claimed commitment to the environment
more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Texas luxury home sales strong  

Texas luxury home sales strong   | Texas Coast Real Estate | Scoop.it

Luxury home sales in Texas were high in the first eight months of 2016, according to the latest Texas Luxury Home Sales Report released yesterday by the Texas Association of Realtors.

The report examines housing market trends and statistics for homes priced $1 million or higher in the Austin, Dallas-Fort Worth, Houston, San Antonio, Corpus Christi, and Midland MSAs.

From January to August 2016, luxury home sales volume increased in all four major metro areas except Houston, which had a 7.9 percent year-over-year decline. The highest annual gains were in Corpus Christi and Midland, where sales jumped 60 % and 166.7 %, respectively.

Luxury home prices remained flat or declined across the state. The lone exception was Midland, where the median price increased 13.8 percent. Prices were highest in DFW, with a median price of $1.4 million. Austin-Round Rock MSA had the highest price per sf ($345) among major metros.

Several factors are driving Texas' luxury home sales growth in 2016," said Real Estate Center Chief Economist Dr. Jim Gaines. "Consistent with the downturn of the oil and gas sector, homeowners are putting more expensive homes on the market. Other luxury home sales are from new home construction contracted two years ago, when the energy sector was healthier."

Michael Stuart's insight:

Port Aransas on the Texas coast has strong sales comparable to Austin.

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Texas counties rank high for real estate investing

Texas counties rank high for real estate investing | Texas Coast Real Estate | Scoop.it

Real estate investing in Texas

According to SmartAsset, the best opportunities to invest in real estate in Texas are in Harris County, the home of Houston. Harris County has seen business growth of 6.1 percent since 2015, which is lower than most of the other counties ranked — besides Dallas County — but it’s higher than the state of Texas as a whole.

Harris County ranks no. 2 in the nation for real estate investing

LaSalle County had the largest amount of business growth in the state, at 51.7 percent, but GDP growth was just $54 million.

Michael Stuart's insight:

Harris County had a whopping $38.815 billion in GDP growth. New building permits were the highest in Collin County, which had 45.1 permits per 1,000 homes.

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

This cool map of the Hill Country captures the essence of Central Texas

This cool map of the Hill Country captures the essence of Central Texas | Texas Coast Real Estate | Scoop.it

If you want to get a sense of the Hill Country in one image, this is it. This colorful map, which was created by TexasHillCountry and artist Kevin Middleton, captures all the nuance and uniqueness that has made the Texas Hill Country a destination on a number of popular travel lists

Michael Stuart's insight:

The Texas Hill Country (THC) and The Texas Gulf Coast (TGC) are many of the same people, part-time. 

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

What thrived and dived during the Texas coast recession?

What thrived and dived during the Texas coast recession? | Texas Coast Real Estate | Scoop.it

What thrived during the Texas coast recession is a story how two developers came out smelling like a rose.


Lessons learned from two “high-end real estate project developers” that thrived during the worse recession and storms to hit the Texas coast in history. A silver lining from the unfortunate times the region experienced from 2008 to 2012, and a testimony to enduring value.


At TexasGulfCoastOnline.com we have a criteria list we use to determine the rare and remarkable projects on the Texas coast.


Here is how we pick them:

  • The properties being built, as well as the location, have to be rare and unique.
  • The owners and developers of the projects must be reputable and solidly financed.
  • An impressive amenities package must be offered both in the individual homes as well as the community – and must exceed what is already available in the local area.
  • A good marketing plan and sales operation team must be in place to ensure the project’s success.
  • The project must not have major erosion and insurance issues.
  • The project should have energy efficient and storm resistant features.
  • The project design and price range should fit with the buyer profile for the area, and its surrounding properties.
  • The project and personnel must be in good standing with the local community.
  • The project must have sound market fundamentals such as rental income vs. price and supply vs. demand, predicting a safe investment.


The only two high-end developers and their projects that thrived during the hard times:


The projects that didn’t do so well and why :
  • Laguna Harbor, Port Bolivar – highly leveraged | project stalled
  • Biscayne, Crystal Beach – lack of interest by owner | project stalled
  • Beachtown, Galveston – east side location price mismatch | project stalled
  • Palisade Palms, Galveston – east side location price mismatch | auctioned
  • Emerald By Sea, Galveston – highly leveraged | bank owned
  • Diamond Beach, Galveston- highly leveraged | bank owned
  • Point West, Galveston – detached ownership and remote location | project stalled
  • Palmilla Beach Resort and Golf Club, Port Aransas - detached ownership, golf course | project stalled
  • Sapphire South Padre – highly leveraged | bank owned
  • South Padre Island Golf Club – detached ownership, golf course | project stalled


Projects that completely failed and the main reasons why:

  • Avocet, Crystal Beach – lacked leadership and highly leveraged
  • Sanctuary at La Costa Grande, Port Lavaca – detached ownership, remote location and marketing gimmicks
  • Tortuga Dunes, Mustang Island – federally uninsured location in CBRA zone
  • Pirates Cove, Port Isabel – priced too high for location


Winning High-end Real Estate Project Takeaways
  • Great development leadership
  • Good location / value
  • Solid Market Fundamentals
  • Strong Financial Backing
  • Commitment to local community
  • High-rises & Inclusive Resorts

Losing High-end Real Estate Project Takeaways

  • Inexperienced developer
  • Location price mismatch
  • Problem with Market Fundamentals
  • Highly leveraged project
  • Environment issue
  • Coastal Golf courses
more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Oil Spill Money Helps Texas Protect Coast

Oil Spill Money Helps Texas Protect Coast | Texas Coast Real Estate | Scoop.it

Money paid by BP and Transocean to settle criminal penalties arising from the 2010 Deepwater Horizon oil spill has helped Texas close the largest conservation land purchase in the state’s history: Just over 17,000 acres of undisturbed coastal prairie in Calhoun County for $50 million.

The Texas Parks and Wildlife Foundation (the non-profit fundraising arm of the state’s parks department) will raise the balance of the funds — about $15 million after the oil spill funds are applied. The foundation would initially be a joint owner of the land, alongside other non-profit conservation organizations; eventually, the plan is for the land to be donated to the department itself.

Conservationists and environmental advocates hailed the purchase as a significant move to protect the state’s coast, which experts estimate is losing hundreds of acres of rural land each day. Conserving rural lands, they said, is crucial not only for preserving open spaces in Texas, but also as a way to protect water resources. Along the coast, keeping land undeveloped can serve as a “natural buffer” against sea-level rise and storm surges — often a much cheaper way to ensure hurricane protection than costly infrastructure like seawalls.

http://www.texastribune.org/2014/08/21/texas-announces-land-conservation-purchase-bp-doll/

more...
No comment yet.
Scooped by Michael Stuart
Scoop.it!

Experts dispute Perry on border crime stats

Experts dispute Perry on border crime stats | Texas Coast Real Estate | Scoop.it

A surge of military and law enforcement personnel will head to the Texas-Mexico border to combat what Gov. Rick Perry describes as a violent crime wave by “criminal alien defendants,” but criminal justice experts say certain border areas are more secure than Texas’ top cities — a view echoed by local realtors whose sales have suffered partly from news reports about border violence. Experts polled by PolitiFacts Texas were unable to substantiate crime statistics cited by Perry as support for sending 1,000 Texas National Guard troops to the border, and in fact, called the numbers “ridiculous.”

That’s good news for South Padre Island, which has seen depressed real estate sales following the economic recession and Hurricane Dolly in 2008.  Sales volume is improving but prices still lag Galveston and North Padre Island, and inventory stands at a two-year backlog, according to statistics compiled by the Texas A&M Real Estate Center.

Alice Donahue, a longtime South Padre Island realtor, says sales have been steadily improving from last year at approximately 29% for the area.

“We are seeing more inventory this summer but time on the market has been reduced on certain properties, specifically beachfront homes, South Padre Island Golf Course Homes and Long Island Village,” said Donahue of Alice Donahue Real Estate. “Prices are still lower than we have seen since the downturn and it is still a buyers’ market here but I have noticed a marked increase in Mexican National buyers since the cartel crisis, which I do not believe is a threat to our area as has been perceived in the past.”

To read the Scripps article on Perry, click the link: http://www.caller.com/columnists/matthew-waller/data-shows-safe-border-regions-before-natl-guard-deployment_99075946

For more on PolitiFacts analysis: http://www.politifact.com/texas/statements/2014/jul/29/greg-abbott/greg-abbott-attributes-3000-murders-immigrants-her/

more...
No comment yet.