Texas Coast Real ...
Follow
10.7K views | +5 today
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!

Americans Gaining Energy Independence

Americans Gaining Energy Independence | Texas Coast Real Estate | Scoop.it

The U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo.


Domestic oil output is the highest in eight years.


Higher mileage standards and federally mandated ethanol use, along with slow economic growth, have curbed demand, and states like Texas are producing more energy than ever from new on-shore and off-shore advancements in gas, oil and wind energy.


The transformation, could see the country become the world’s top energy producer by 2020, and has implications for the economy and national security.


Boosting household incomes, jobs and government revenue; cutting the trade deficit; enhancing manufacturers’ competitiveness; and allowing greater flexibility in dealing with the Middle East.


The local Texas coast economies should see a big impact from the energy boom and from the expansion of the Panama Canal to help move it.

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

State Farm customers on Texas coast left high and dry

State Farm customers on Texas coast left high and dry | Texas Coast Real Estate | Scoop.it

State Farm said it will not renew regular homeowner policies - aside from windstorm coverage - affecting 11,000 customers in parts of Orange, Jefferson, Chambers, Galveston and Brazoria counties.


Alex Winslow, executive director of the consumer advocacy group Texas Watch, which specializes in insurance issues, said State Farm is not repaying longtime customer loyalty with its action.


Visit http://www.texaswatch.org

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

Texas is one of the richest states

Texas is one of the richest states | Texas Coast Real Estate | Scoop.it

As for the overall size of the funds, oil-rich Alaska, with its $11 billion in rainy day cash (which works out to $15,000 per person), and Texas, with $5 billion, outstrip them all. Reserves like that can make even the toughest governors smile.


It turns out that the states with the fattest reserve funds these days can thank the booming energy sector, which is being driven by oil and shale gas production.


The Associated Press reported that 15 ran surpluses for fiscal 2011, up from 10 the year before. Generally, a surplus is a sign that a state's economy is getting better.

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

25 billion Agreement Provides Homeowner Relief

25 billion Agreement Provides Homeowner Relief | Texas Coast Real Estate | Scoop.it

U.S. Attorney General Eric Holder, Department of Housing and Urban Development (HUD) Secretary Shaun Donovan, Iowa Attorney General Tom Miller and Colorado Attorney General John W. Suthers announced the federal government and 49 state attorneys general have reached a $25 billion agreement with the nation's five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses.


The agreement provides substantial financial relief to homeowners and establishes significant new homeowner protections for the future.


This historic settlement will provide immediate relief to homeowners, forcing banks to reduce the principal balance on many loans, refinance loans for underwater borrowers, and pay billions of dollars to states and consumers.


For more information about the mortgage servicing settlement, go to www.NationalMortgageSettlement.com

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

American Amazing Shovel-Ready Energy Stimulus

American Amazing Shovel-Ready Energy Stimulus | Texas Coast Real Estate | Scoop.it

An energy boom is revving up the U.S. economy.


The use of new drilling techniques to tap oil and gas in shale rocks far underground helped add about 158,500 new oil and gas jobs over the past five years, and economists think it has created even more jobs in companies supplying the energy industry and in the broader service industry.


U.S. oil production is rising for the first time in decades. Natural gas has become so plentiful that prices recently plunged to a 10-year low.


Manufacturing plants are returning to the U.S. to take advantage of cheap natural gas, spurring major investments in petrochemical production in the Gulf Coast.

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

Energy Spurs a Recovery in Houston Real Estate

Energy Spurs a Recovery in Houston Real Estate | Texas Coast Real Estate | Scoop.it

In most cities, companies are holding tight, mothballing office expansions and delaying new hires. But not in Houston.


Powered by a rise in oil prices and a shale exploration boom, Houston is the first major metropolitan region to regain all the jobs it lost in the recession, according to the Texas Workforce Commission, and is on pace to pick up tens of thousands more this year.


The resurgence can be tied to the lifting of the government moratorium on deepwater drilling in the Gulf of Mexico and Shale drilling.


Clearly the story about the attraction to Texas is job growth.

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

Builder Confidence for the 55+ Housing Market Improves

Builder Confidence for the 55+ Housing Market Improves | Texas Coast Real Estate | Scoop.it

Builder confidence in the 55+ housing market for single-family homes, condos and rentals rose compared to the same period a year ago, according to the latest National Association of Home Builders Market Index.


We are seeing increased optimism from builders in the 55+ housing segment,” said NAHB Chairman Bob Nielsen. However, the market still remains weak as many people in the mature-market sector are hesitant to buy.


They are concerned about selling their existing home at a fair price, due to low appraisals, an abundance of foreclosures and tighter mortgage lending criteria.

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

Southcross Energy expands South Texas Eagle Ford presence

Southcross Energy expands South Texas Eagle Ford presence | Texas Coast Real Estate | Scoop.it

Construction has begun on a second expansion of Southcross Energy's natural gas processing network in South Texas to meet the demands of Eagle Ford Shale production.


South Texas has been strong in "dry" or "lean" gas, which means most existing pipelines must be converted to handle wet gas and not many are equipped to carry components.


Building more infrastructure helps Southcross sell more product locally in the Coastal Bend.

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

Texas in top 10 states of international real estate traffic

Texas in top 10 states of international real estate traffic | Texas Coast Real Estate | Scoop.it

Global searchers gravitate to same top 10 states.


We continue to see consistent international interest in U.S. real estate, particularly from Canadians, who typically travel to the U.S. for holidays.


Many Canadians own property in the U.S., typically in warmer regions. We also find that there is interest in states with close proximity to Canada where the opportunity to own or invest in real estate seems very attractive, like the Texas Coast.


The United Kingdom and Mexico were the second- and third-biggest sources of international traffic.

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

A 1031 Exchange is an interest free loan

A 1031 Exchange is an interest free loan | Texas Coast Real Estate | Scoop.it

A 1031 exchange is actually an indefinite, interest free loan, but officially A 1031 exchange is a tax deferral.


When real and personal property is held for productive use in a trade, business or for investment is sold, federal and state capital gains and recaptured depreciation taxes are triggered that can amount up to 40 percent of the sales price.


The tax is postponed when replaced with like-kind property within 180 calendar days of when the real or personal property was sold.


Imagine being able to use 40 cents on the dollar indefinitely to purchase replacement property. On $100,000 the interest free loan can be upwards of $40,000. No loan paperwork needs to be submitted and you are automatically approved.


1031 Exchanges are a great way to get into vacation homes on the Texas coast.

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

BP Spill Money for Texas over $100M

BP Spill Money for Texas over $100M | Texas Coast Real Estate | Scoop.it

Unlike other Gulf states, Texas beaches did not get soaked with oil after the BP spill two years ago.


But Texas has been affected indirectly. For example, bird and turtle species harmed by the oil also spend time in Texas. Photographs of oil-soaked brown pelicans became emblematic of the spill two years ago. The birds, which were on the federal endangered species list until 2009, regularly use Texas beaches. Similarly, endangered sea turtles swim in the Gulf and nest on islands like South Padre in the spring.


At least $100 million, and possibly much more, will be funneled to Texas as part of the cleanup financing from BP after the Deepwater Horizon oil spill in the Gulf of Mexico in 2010.


So far, Texas officials have received more than 150 suggestions on how to spend the money, including expansion of parkland, restoration of oyster reefs and a campaign to reduce litter that ends up in the Gulf.


These are definitely good sources of restoration dollars for the Texas coast.

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

Yale Professor Shiller on a Housing Bottom in 2012

Yale Professor Shiller on a Housing Bottom in 2012 | Texas Coast Real Estate | Scoop.it

Yale professor Robert Shiller has correctly identified (in advance) two major price bubbles in recent decades—the stock market bubble of the late 1990s and the housing bubble of the late 2000s.


One of the key attributes of most bubbles is that, when they finally burst, prices tend to "overshoot" on the downside, crashing well below fair value until all the exuberance is wrung out of the system.


A housing bottom – if it does indeed arrive in 2012 – will prove disappointing for those expecting gains on their real estate investment in 2013 or 2014.

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

Household Formation Correlated with Unemployment

Household Formation Correlated with Unemployment | Texas Coast Real Estate | Scoop.it

Roartybomb poster Mike Konczal looks at divorce rates and birth rates in each state, which reveals that higher unemployement rates by state tie directly to lower divorce rates and lower birth rates.


New people (birth rate) and divorce drive new household formations. Konczal's conclusion is that the pent-up demand for housing, both rental and for-sale, may not materialize unless people can pay for divorce and babies.


Family household growth has completely decoupled from the US population growth since 2008, creating the pent-up demand.

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

Has Housing Finally Bottomed?

Has Housing Finally Bottomed? | Texas Coast Real Estate | Scoop.it

The economy may be poised for better days, but we’re still a long way from a genuine boom.


Job growth seems to be perking up and maybe we’ll catch a break with residential real estate in the months ahead.


while it’s easy to remain gloomy about residential real estate, there has been progress, and it's no longer contracting. Unfortunately, it’s not growing either.


After three years of treading water in housing starts and newly issued building permits, we finally at the stage for authentic expansion.


Housing starts and new building permits are inching higher and housing inventories have fallen to the 2005 level.


Look at 2012 as a ramping event to get a more solid recovery in 2013.

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

Is It Better to Buy or Rent?

Is It Better to Buy or Rent? | Texas Coast Real Estate | Scoop.it

The answer to the question depends on many factors. Compare the costs of buying and renting equivalent homes.


Whether renting is better than buying depends on many factors, particularly how fast prices and rents rise and how long you stay in your home.


Compare the costs of buying and renting a home in the calculator from the New York Times:

http://www.nytimes.com/interactive/business/buy-rent-calculator.html


Click the advanced settings button to change inputs such as your rate of return on investments, condo/common fees and your tax bracket.

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

Texas Port project to dig out new opportunities

Texas Port project to dig out new opportunities | Texas Coast Real Estate | Scoop.it

Corpus Christi La Quinta Channel will have a 7,600-foot-long, 400-foot-wide extension and new turning basin at a depth of 41 feet.


Planned for July 2013, said Chip Worley, area engineer for the U.S. Army Corps of Engineers,

it will be one of the few properties its size on the Gulf Coast with deepwater access.


Port officials hailed the Panama Canal expansion and the container-loaded massive tankers the new canal will support as a possible boon to development.

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

2012 market will challenge sellers to preserve their equity

2012 market will challenge sellers to preserve their equity | Texas Coast Real Estate | Scoop.it

The $25 billion settlement with banks over foreclosure abuses may result in a wave of home seizures, inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely.


A surge of home seizures may drive down values, at least for a while. The number of new foreclosure filings fell 34 percent last year resulting in a backlog that now may flood the market with low-cost properties.


“This will result in more foreclosure pain in the short term as some of the foreclosures that should have happened last year instead happen this year,” Daren Blomquist, a RealtyTrac


There’ll be more price weakness, because we’ll see the number of distressed sales pick up,” said Mark Zandi, chief economist for Moody’s Analytics Inc.

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

Texas Ahead: Tracking the Growing Texas Economy

Texas Ahead: Tracking the Growing Texas Economy | Texas Coast Real Estate | Scoop.it

The Comptroller weekly Economic Outlook page is packed with snapshots of the Texas economy, including employment, housing and tax data.


The Texas oil and natural gas industry remains strong. Oil and natural gas production tax collections were 63 percent higher in the first five months of fiscal 2012 than during the same period in 2011.


Texas has been the nation’s No. 1 exporting state since 2002, due not only to its own business activities but also to its position as a major national hub for sea, land and air transportation.


Over the past year, Texas added jobs in eight of the eleven major industries sectors, including educational and health services, professional and business services, trade, transportation and utilities, leisure and hospitality, manufacturing and mining and logging.


The dynamic Texas economy is ever-changing as it responds to new challenges and opportunities.

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

Fannie Starts Accepting Online Offers for Properties

Fannie Starts Accepting Online Offers for Properties | Texas Coast Real Estate | Scoop.it

Fannie Mae has announced that it is rolling out a pilot program nationwide that will allow real estate agents to now submit and track their offers online for Fannie Mae-owned properties.


Collecting offers online through HomePath.com will provide greater transparency for home buyers and their agents, VP for REO at Fannie Mae.


Our online platform will make it easier to sell properties to owner-occupants, which is a major factor in helping to stabilize communities across the nation.

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

Most Baby Boomers Want Small Homes

Most Baby Boomers Want Small Homes | Texas Coast Real Estate | Scoop.it

Baby boomers are ready to downsize and make their life simpler. No mowing lawns, climbing stairs, smaller homes mean less to clean, and so on.


Once the government and the stock market settle down, and the market starts to turn, we will find many baby boomers who have been holding off retiring and buying that retirement home finally making their move. We might start seeing this happen as early as this year, 2012.


There are approximately 77 million Americans who fall into the baby boomer category, born between 1946 and 1964. We might start seeing a lot of housing changes in existing and new homes for the baby boomer group. Small might be the next big thing.

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

New Urbanism vs. Dispersionism - New Geography

New Urbanism vs. Dispersionism - New Geography | Texas Coast Real Estate | Scoop.it

New Urbanism vs. Dispersionism Design Debate


The New Urbanist team will create the entire form-based vision for the property and design it around a smart code so that the future developers will obey a plan to keep property values rising.


The Dispersionists will not as a rigid image of a town, but rather as a response to the natural landscape. This team said the community would grow organically, from its functional needs, guaranteeing the freedom of future generations to plan their own destiny.


This round, in my mind, went to the Dispersionists. Too many Master Plans are implemented poorly, or abandoned due to their dis-utility based on changing needs and markets.

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

On Foreclosures Uncle Sam Courts Investors

On Foreclosures Uncle Sam Courts Investors | Texas Coast Real Estate | Scoop.it

The U.S. Government invited investors to bid on pools of foreclosed properties owned by Fannie Mae.


The goal is to help stabilize the troubled housing market by turning properties into rental units. Similar programs are expected to be launched by Fannie Mae’s sibling company, Freddie Mac, and the Federal Housing Administration, the government-controlled mortgage insurer.


The FHFA is setting up a pre-qualification process to make sure investors have strong enough finances and enough experience. Investors would be required to rent out the foreclosures for several years.

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

Why foreclosure investors are double-edged sword for economy

Why foreclosure investors are double-edged sword for economy | Texas Coast Real Estate | Scoop.it

The best way to clear the vast inventory of foreclosed properties weighing down today's housing market is to get more investors involved.


Nearly 23% of home purchases in December were by investors, and 74% are using all cash, able to bid significantly lower on many properties because they offer a shorter and more reliable closing timeline.


There has been a lot of concern among industry analysts that bulk foreclosure sales would push home prices down further, but it appears that is already happening, as investors usually offer 10% to 20% below list price.

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

New Year-Round Indoor Waterpark Hotel South Padre

New Year-Round Indoor Waterpark Hotel South Padre | Texas Coast Real Estate | Scoop.it

Schlitterbahn Announces New Year-Round Indoor Waterpark Hotel Located on South Padre Island, Texas.


The beachfront resort includes lodging, retail, restaurants, year-round indoor waterpark and special access to the summertime Schlitterbahn Beach outdoor waterpark.


Hotel guests enjoy the new spacious upscale accommodations, but resort guests will also receive a variety of VIP amenities including unlimited use of the Waterpark for the duration of their stay, extended use of select park rides and attractions, beach access amenities, Wi-Fi and free onsite parking.


The Schlitterbahn Beach Resort is expected to entertain hundreds of thousands of guests per year and will create several hundred new jobs, providing an economic boost to the region.


Planned opening is summer 2012.

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

Survey Reveals People Still Want to Own and Consumer

Survey Reveals People Still Want to Own and Consumer | Texas Coast Real Estate | Scoop.it

The highest-ranking reasons that homeownership is important to consumers today include:


1. "I don't want to rent the rest of my life." and

2. "Ownership is what I strive for."


Second to personal values are the financial values. Consumers rank "Buying is Affordable" as the top reason and "tax benefits of a mortgage" is at the bottom.


Eighty-Nine percent think now is a good time to buy a home, with little variation in optimism by region, age or lifestage. The expectation of home appreciation continues to be minimal.

more...
No comment yet.