Dallas Urban Living

Housing Market Study: Mid-Size US Housing Markets

noreply@blogger.com (Lexington Development) — Fri, 26 Aug 2011 13:21:00 +0000

Real Time Housing Market Report
Real-Time Housing Market Update By Altos Research

This is the first time we have experienced the current combination of low interest rates, high unemployment, and a glut of inventory hiding in the shadow. The housing market in the United States is in a constant state of flux. Volatility is the norm and the rules of yesterday’s market no longer apply.

The Mid-Cities Report provides a glimpse into real estate market trends for mid-sized US markets not commonly reported in the media.

This month prices increased in 14 of the 20 markets, and inventory increased in 12 of the 20 markets. The list of markets with price and inventory increases has been in flux for the past three months. Our Altos 20-City Composite National Report showed signs of a slowing market a few weeks ago. The summer price bump is over and both prices and inventory are declining at the seven-day level. The next few weeks will set the stage for a long, cold winter. There’s nothing on the immediate horizon with employment or the economy that suggests a spike in fall or winter housing market activity.

Traditionally, inventory begins declining in the fall and reaches a seasonal low in January. The current inventory trend shows evidence of the seasonal inventory shift.

Key takeaways from the markets covered in this report:

The median price was $256,120 in July, up $7 from $256,113 in June. For comparison, the Altos national composite median price was down 0.16% in July, from $450,894 to $450,176.
The leaders in the three-month price increases are Boulder (8.23%), San Antonio (4.43%), and Boise (3.11%).
Only two markets had decreasing prices over three months. Naples (-2.73%) and Dover (-1.25%).
Boulder had the largest one-month increase in median price, with a 3.67% increase.
The largest one-month increase in inventory was Boulder, with a 3.26% increase.
The largest one-month decrease in inventory was Naples, with a 5.32% decrease. Naples also had the largest three-month decrease in inventory (-10.95%).
Eight of the 20 markets reported a decrease in inventory and six of the 20 markets reported a decrease in median prices.
The 7-day numbers have been declining and 90-day averages in the mid-cities composite are flattening for median prices and inventory. The 7-day trends are always the first indication of a
shifting market and should be watched closely.

Texas Continues Leading Nation Unemployment Drops To 8 Percent

noreply@blogger.com (Lexington Development) — Fri, 20 May 2011 21:37:00 +0000

Austin Texas (May 20, 2011) The Texas unemployment rate dropped for the third consecutive month to 8.0 percent in April as another 32,900 nonfarm jobs were added, the state employment agency said Friday.

Jobs grew for the seventh consecutive month, and Texas has added more than 86,000 positions since the start of the year, according to Texas Workforce Commission figures.

The Texas jobless rate dropped from 8.1 percent in March and 8.2 percent a year ago, remaining below the national figure of 9.0 percent. The March figure marked the first time in four years that the state's unemployment rate fell in consecutive months.

“Texas has demonstrated its ability to bounce back from the effects of the national recession through strong and consistent job growth over the past year,” commission Chairman Tom Pauken said in a statement, noting that Texas led the nation by adding 500,000 jobs in the past five years.

The trade, transportation and utilities sector added 17,900 jobs in April and has gained 48,700 positions over the past year. Education and health services added 11,300 jobs last month. Professional and business services tacked on 8,000 jobs, and the sector has had the strongest year-over-year increase with 57,900 positions.

“The decrease in the unemployment rate over the month and over the year is another welcome sign,” said Andres Alcantar, the commissioner representing the public.

Unemployment rates are adjusted for seasonal trends in hiring and firing, which most economists believe give a more accurate picture of the job market. Without the seasonal adjustment, the jobless rate in Texas dropped to 7.7 percent in April from 8.1 percent in March.

The jobless rate for Dallas-Plano-Irving was 7.7 percent for April, down from 8.1 in March. The rate for Fort Worth-Arlington stood at 7.6 percent last month, down from 8.0 percent.

Midland maintained the state's lowest local jobless rate at 4.4 percent for April. Brownsville-Harlingen remained the highest at 11.5 percent, down from 12.0 percent in March. The local rates are not seasonally adjusted.

For additional market, political and economic research, visit our parent site Lexington Development

The AP contributed to this article

Small Business Blogging To Increase Web 'Footprint'

noreply@blogger.com (Scott Schaefer) — Wed, 16 Feb 2011 06:59:00 +0000

We published our first blog two years ago in November. Those in the know insisted I had to have a blog in order to boost the search engine rankings of my website. As a home builder, I elected housing and real estate as the subjects of that first blog. I started the Dallas Urban Blog on Google's Blogger Platform and was blogging. I soon decided I liked the presentation of WordPress Blogs more than I did Blogger, so I started the Lexington Blog on WordPress.

I knew very little about what I was doing, but I realized I was enjoying it. Within a short time, I was authoring and publishing several blogs. I ultimately figured out that blogs really do increase the search engine ranking of your website, but only if said blog is located within the website. Thus, all of my efforts to this point had produced no results. With little alternative, I accepted the challenge of self hosting the blogs within my website. I refer to it as accepting the challenge because self hosting requires a great deal more technical knowledge as more web coding is required. It was a daunting prospect. I generally learned that which I needed to learn and, to my great surprise, began enjoying it even more.

Then came the epiphany; I realized that a good number of people actually cared about what I had to say. I was honored, flattered, even validated; and emboldened to continue. What had started simply as an effort to boost search engine results had become, essentially, successful on its face.

As readership and site statistics grew, we were amazed that there were some days we had as many as 3,000 page views. Noting these spikes in our statistics, we dug deeper into our web analytics and were truly amazed. When my wife and I began this endeavor, we researched our web presence and Google could only find me or my company on 87 web pages. This is a truly insignificant web presence for a business owner.

Here we now were, a year later, doing the very same research. This time, the results were remarkably different; Google found me or the company on more than 80,000 web pages. Our websites and blogs were ranked very highly in search engines, our Google Page Rank was growing across the board, and our traffic was increasing steadily. Our search engine ranking was so high amongst home builders in our market areas that Google search results consistently place us in the top 10, some times even achieving the number one position. We routinely rank higher than the largest home building companies in the country; big companies with several billion dollars in revenue who spend millions of dollars a year in advertising.

These were resources I couldn't begin to fathom. It had taken us a great deal of time, but we achieved phenomenal results having spent only $4,000; that's all we had. But, we were beating the results of companies that spend several times that amount every day. Clearly, we were on to something. That is a story for my next article.

We also found that many independent ranking services were beginning to rate us very highly. For example, Website Grader ranked our website in the top 20,000 sites in the world. This may not seem all that impressive at first blush, but when compared to the several million websites they rank, the fact is we ranked in the top 97 percent in the world. Further, Technorati recently ranked two of our blogs in the top 500 in the world in the categories of Politics and US Politics. Accolades, such as these, are very gratifying.

We also noticed there were days when visitor traffic to our websites skyrockets. It took us some time to figure out why that was happening. The answer astonished me. Institutional websites, like the Washington Post, occasionally link back to our articles as source material. We came to find that even Andrew Breitbart's BigGovernment website cited one of our articles as a source for an article on Obamacare published in October. This was particularly gratifying because I admire Andrew, as was the news that Technorati had moved the ranking of one of our blogs up to number 300 in the world on the subject of US Politics.

I ultimately decided that the entire endeavor into blogging was very much like becoming a millionaire, as Steve Martin once quipped: It's easy to be a millionaire...first, you get a million dollars. In other words, the more successful you are at increasing your web presence, the easier it becomes to increase your web presence. In the final analysis, as a small business, blogging will certainly improve the success of your website, enhance your brand, improve your web presence and boost credibilitity of your business. Conversely, if you're not utilizing a blog for your small business, you're forgoing one of the strongest and least expensive marketing tools your business will ever have. Contact Lexington Development to get started.

Home Prices Continue Down Nine Cities Hit New Lows

noreply@blogger.com (Scott Schaefer) — Thu, 27 Jan 2011 14:39:00 +0000

Data through November 2010, released January 25 by Standard & Poor’s for its S&P/Case-Shiller Home Price Index, the leading measure of US home prices, show a deceleration in the annual growth rates in 17 of the 20 Metropolitan Statistical Areas (MSAs) and the 10- and 20-City Composites compared to what was reported for October. The 10-City Composite was down 0.4% and the 20-City Composite fell 1.6% from November 2009 levels.

Home prices fell in 19 of 20 MSAs and both Composites were lower in November from their October levels. In November, only four MSAs – Los Angeles, San Diego, San Francisco and Washington DC – showed year-over-year gains. The Composite indices remain above their spring 2009 lows; however, nine markets – Atlanta, Charlotte, Chicago, Detroit, Las Vegas, Miami, Portland, Seattle and Tampa – hit their lowest levels since home prices peaked in 2006 and 2007, meaning that average home prices in those markets have fallen even further than the lows set in the spring of 2009.

The chart above depicts the annual returns of the 10-City and the 20-City Composite Home Price Indices. In November 2010, the 10-City and 20-City Composites recorded annual returns of -0.4% and -1.6%, respectively. November was the sixth consecutive month where the annual growth rates moderated from their prior month’s pace. Since May 2010, the housing market has experienced an unambiguous deceleration in home price returns. The 10-City Composite has reentered negative territory with a -0.4% annual growth rate in November, versus the +5.4% reported six months prior in May, and the 20-City Composite was down 1.6% in November versus its +4.6% May print.

“With these numbers more analysts will be calling for a double-dip in home prices. Let’s take a moment to define a double-dip as seeing the 10- and 20-City Composites set new post-peak lows. The series are now only 4.8% and 3.3% above their April 2009 lows, suggesting that a double-dip could be confirmed before Spring. Certainly nine cities setting new lows, and with the only positive news concentrated in southern California and Washington DC, the data point to weakness in home prices,” says David M. Blitzer, Chairman of the Index Committee at Standard & Poor's. “With an annual growth rate of +3.5% in November, Washington DC was the strongest market, but still well below the +7.7% annual rate of growth seen in May 2010. The only city with a gain in November was San Diego, up a scant 0.1%. While San Diego, Los Angeles and San Francisco are still ahead from November 2009, their annual rates are shrinking in recent months.

“Looking at the monthly statistics, 19 of 20 MSAs and both Composites were down in November over October. Fourteen MSAs and both composites have posted at least four consecutive months of decline with November’s report. Thirteen of the MSAs and the 20-City Composite fell by 1.0% or more in November. While not always consecutive months, 13 of the MSAs and both composites have posted at least seven months of decline since the beginning of 2010. These markets saw home prices fall more than half the months reported in 2010 so far.”

The chart above shows the index levels for the 10-City and 20-City Composite Indices. As of November 2010, average home prices across the United States are back to the levels where they were in latter half of 2003. Measured from June/July 2006 through November 2010, the peak-to-current decline for both the 10-City Composite and 20-City Composite is -30.3%, improvements from their April 2009 trough are +4.8% and +3.3%, respectively.

The 10 City Composite was down 0.8% and the 20-City Composite fell by 1.0% in November. Nineteen of 20 of the metro areas also declined in November; San Diego was up just 0.1%. Thirteen of the MSAs were down by 1.0% or more in November, with Detroit posting the largest decline of 2.7%.

As of November 2010, Las Vegas is down 57.2% from its peak in August 2006; Phoenix is down 53.9% from its peak in June 2006 and Miami is down 48.8% from its peak on December 2006.

The table below summarizes the results for November 2010. The S&P/Case-Shiller Home Price Indices are revised for the 24 prior months, based on the receipt of additional source data. More than 23 years of history for these data series is available at www.homeprice.standardandpoors.com

Since its launch in early 2006, the S&P/Case-Shiller Home Price Indices have published, and the markets have followed and reported on, the non-seasonally adjusted data set used in the headline indices. For analytical purposes, Standard & Poor’s publishes a seasonally adjusted data set covered in the headline indices, as well as for the 17 of 20 markets with tiered price indices and the five condo markets that are tracked. A summary of the monthly changes using the seasonally adjusted (SA) and non-seasonally adjusted (NSA) data can be found in the table below.

The S&P/Case-Shiller Home Price Indices are published on the last Tuesday of each month at 9:00 am ET. They are constructed to accurately track the price path of typical single-family homes located in each metropolitan area provided. Each index combines matched price pairs for thousands of individual houses from the available universe of arms-length sales data. The S&P/Case-Shiller National US Home Price Index tracks the value of single-family housing within the United States. The index is a composite of single-family home price indices for the nine US Census divisions and is calculated quarterly. The S&P/Case-Shiller Composite of 10 Home Price Index is a value-weighted average of the 10 original metro area indices. The S&P/Case-Shiller Composite of 20 Home Price Index is a value-weighted average of the 20 metro area indices. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the subject market.

These indices are generated and published under agreements between Standard & Poor’s and Fiserv, Inc. The S&P/Case-Shiller Home Price Indices are produced by Fiserv, Inc. In addition to the S&P/Case-Shiller Home Price Indices, Fiserv also offers home price index sets covering thousands of zip codes, counties, metro areas, and state markets. The indices, published by Standard & Poor's, represent just a small subset of the broader data available through Fiserv. For more information about S&P Indices, please visit www.standardandpoors.com/indices.

About S&P Indices
S&P Indices, the world’s leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1.25 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of US home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry's most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for US municipal bonds.

Finally, Some Really Really Good News: At Least For Texas

noreply@blogger.com (Scott Schaefer) — Mon, 10 Jan 2011 15:37:00 +0000

There has been precious little good news in America during the last two years. While this isn't necessarily good news for everyone, it certainly is for the Lone Star State. The US Census Bureau has announced the US Population results from the 2010 Census and, along with the US population by state, the Census Bureau also announced the resultant shift in both Congressional seats and Electoral College votes due to migration of the US population.

Eight states gain a total of 12 Congressional/Electoral seats, while ten states, primarily in the Northeast and Midwest, will lose seats. The big winner, for those of you who didn't venture a guess: Texas. Continuing seven consecutive decades of growth, Texas picks up four new Congressional seats in 2012, the most for any state. The other winners: Florida gains two, and Arizona, Georgia, Nevada, South Carolina, Utah and Washington each gain one.

The losers include Illinois, Iowa, Louisiana, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. All those states lost one seat apiece, save for New York and Ohio, which lost two each.

This shift is almost entirely from Blue States to Red States, as this population shift sets the stage for what will almost assuredly be additional Republican gains in Congress in 2012. It will certainly change the political landscape ahead of the 2012 presidential race, which in some respects, is already starting. "The 2010 Census will serve as a backbone for our political and economic system for years to come," Commerce Secretary Gary Locke said.

The Census Bureau unveiled the first package of results from the 2010 head count during a press conference in Washington. Director Robert Groves used the ceremony to announce the official US population count as of April 2010 was 308,745,538 which is a 9.7 percent increase from a decade earlier. This represents a slower growth rate than recorded in previous counts. The population in 2000 was 281.4 million.

But the regional population shifts are what matter to lawmakers looking to boost their party's numbers in Washington. The Census is used to shape state legislative seats and allocate the 435 seats in the U.S. House of Representatives. With growth in the South and West averaging about 14 percent, states in those regions are set to gain the most additional representation in Congress.

Rep. Patrick McHenry, R-N.C., ranking member of the House Subcommittee on Information Policy, Census and National Archives, congratulated the Census Bureau for the work it did putting together the decennial count, and suggested the migration patterns show the Rust Belt is losing out to the Sun Belt because of better state and local opportunities.

The shift of seats out of Ohio and into Florida, both legendary swing states, means the Sunshine State could take on a bigger role as a presidential battleground in 2012. States that gain more seats will be worth more in the Electoral College -- meaning presidential candidates from both parties may be spending more time in the South and West than they did in the last election.

The Census numbers are also used to allocate billions in federal aid. Locke added that businesses can use the information to figure out where they want to invest.

Housing Market Update December 2010

noreply@blogger.com (Scott Schaefer) — Sat, 01 Jan 2011 03:25:00 +0000

DECEMBER 2010 HOUSING MARKET OVERVIEW

The December housing market begins with a continuation of seasonal price and inventory declines, with asking prices down by 0.45% and active inventory down by 3.16%.

The Altos 10-City Price Composite continued its seasonal decline in November with prices down 0.45%. Expect weekly declines in price, inventory and demand through the end of the year. Watch the third week of January before the first inklings of seasonal demand uptick become visible.

NOVEMBER 2010 HIGHLIGHTS

The Altos 10-City Composite Index is now $456,454 which is off 0.45% from the prior month. In all, 23 of the 26 major US markets tracked by Altos Research showed price decreases, with the steepest declines seen in Washington, DC (down 3.41%), San Diego (down 3.07%), and Salt Lake City (down 2.63%), respectively.

Housing inventory is off by 3.16% nationwide, which amounts to no more than a seasonal adjustment, with dramatic decreases in several major markets, including San Francisco, Boston, and San Jose. Several markets are starting to show potential price stability, including cities such as Miami, which begins its seasonal uptick before the national market.

THE ALTOS RESEARCH 20-CITY COMPOSITE

Starting this month, Altos Research is highlighting a different data point each month, reporting the trends over the past few years. For December, here’s a look at the 20-City Composite Index, which overall gives a broader national view than the 10-City Composite Index which Altos uses as the basis for this report.

Featured Chart For December 2010

The Altos Research 20-City Composite Index includes the same 20 cities as the S & P/Case Shiller Index. Data is for single family homes.

TRENDS: NOVEMBER HOME PRICES

In November 2010, home prices were down in virtually every major housing market in the country. However, it should be noted that the price decreases were in line with what would be expected during this period of the year. The Altos 10-City Composite Index was relatively flat, showing a decrease of just 0.45% to $456,454.

TRENDS: HOUSING SUPPLY

Housing inventory decreased nationwide in November 2010. In several major housing markets the decreases in inventory were rather dramatic with San Francisco down 13.10%, Boston down 11.55%, and San Jose down 10.75% with just a few markets showing increasing inventory levels. The Altos 10-City Composite fell by a modest 3.16% to 273,752 units.

METHODOLOGY

The Altos Research Real-Time Housing Market Report gives you unfettered, up-to-the-minute data relative to housing market conditions in major markets around the nation. The Altos Research Real-Time Housing Market Report is comprised of data that can be used now, not aging, month's-old statistics that mean nothing in a market that is in a constant state of flux. Altos Research uses metrics associated with active residential property listings to give you real-time information. We give you the market as it is, not as it was.

Each market measured is equivalent to the Census Bureau's Metropolitan Statistical Area (MSA) dominated by the city listed. Properties analyzed in the data include repeat sales of single-family homes, but not condominiums, townhomes, or newly constructed single-family homes. The Altos Research Price Index is a statistical compilation of property prices highly correlated with the S&P/Case-Shiller Index. The Altos Research 10-City Composite Index is based on single family homes in Boston, Chicago, New York, Los Angeles, San Diego, San Francisco, Miami, Las Vegas, Washington DC and Denver. For more information, visit the Altos Research website.

ABOUT THE ALTOS RESEARCH HOUSING MARKET REPORT

This real-time housing market research is furnished to the Dallas Urban Blog by Lexington Development and Scott Schaefer as part of a strategic partnership between Lexington Development, the Dallas Urban Blog and Altos Research. The Dallas Urban Blog publishes the Altos Research Real Time Housing Market Report monthly as a service to our readers.

Lexington Development publishes a great deal of additional business, economic, housing and demographic research on the LexingtonWiki, an online knowledge base of epic proportions.

Altos Research is at the forefront of real-time real estate market research. Founded in 2005, Altos' pioneering technologies and information products serve investors, derivatives traders and thousands of real estate professionals. The company publishes statistical reports and data analyses each week covering more than 18,000 zip codes in more than 180 metropolitan markets around the county, including the 20 S&P/Case-Shiller markets summarized in this report.

Some Election Day Effects You Probably Haven't Considered

noreply@blogger.com (Scott Schaefer) — Tue, 02 Nov 2010 15:43:00 +0000

There has been more media coverage of this election than any other mid-term election in my life. For the last several months, election coverage has increased daily, reaching overwhelming levels. Being a political news addict, I've absorbed most of it, much to the consternation of my beautiful wife. But, it occurred to me the other day, that virtually all news coverage has focused on House and Senate races. Races for governorships and state legislatures going largely ignored.

I scrambled to learn what was at stake and determine the likely outcomes of these state races. I felt tingles up my leg (sorry about this side note, I just can't pass up the opportunity to humiliate MSNBC anchorman Chris Mathews, a moron whose leg tingles every time Obama speaks) because the news is better than I would have hoped.

At stake today: 37 governorships and control of 88 state legislatures out of the 99 in the country. Control of these seats will give the party that controls them a tremendous advantage in redrawing congressional districts which now must take place following the 2010 Census. Which party will prevail in these underreported races? Here is my prognostication for this election night:

Republicans will win several swing state governorships from Democrats, like Iowa and Michigan, along with Pennsylvania. Huge swing states, like Ohio and Florida, are supposedly too close for pundits to call. Not being a pundit, I'll call them. By tonight, Florida will have a Republican Governor, and my friend, John Kasich will be the new Republican Governor of Ohio.

The state legislatures in several states will swing back to the GOP with 6,000 legislative seats on the line. Nationally, as I said, 88 of the 99 legislative chambers are on the line. When Republicans last rode in on a wave of discontent, in 1994, they won the Congress, but they also won more than 500 state legislative seats. This year it may be even bigger.

For the first time since Ronald Reagan was President, Republicans will be well positioned for redistricting Congressional Districts. This makes the popular groundswell even more significant than the press will ever report, and it makes future conservative movements even more likely.

This year, millions of Americans, who were never before politically active, woke up, much like America did after Pearl Harbor. They knew things weren't right and knew Obama's policies were wrong. They knew the big government, tax and spend agenda was harmful. They knew their elected representatives should have listened to them, instead of telling them to sit down and shut up. They knew they had to do something when a narcissistic sycophantic progressive said they were un-American, said they were scared and said they would cling to their guns and their religion.

This year, millions of Americans awoke like a sleeping giant, became mad as hell, and decided they weren't going to take it anymore. They went to town hall meetings and gathered with their neighbors. They kept going, their numbers growing, even with the liberal media attacking them every day.

Today is a very good day. It is the culmination of their efforts. Hard-working, honest Americans, who care about their country and want to take care of their families, who began by gathering with their neighbors, became the Tea Party and their numbers swelled into the millions. Today, those good folks begin taking their country back from the progressives and the socialists. And today, hundreds of blue seats will turn red.

As a special note to the Democratic Party and the liberal media: we aren't racists, we aren't un-American, we aren't Astroturf and we aren't the enemy. We are Americans. We are Patriots. And, although it was a long road getting here, today we're taking our country back. You are done here.

Real Time Housing Market Report - June 2010

noreply@blogger.com (Scott Schaefer) — Sun, 25 Jul 2010 08:11:00 +0000

After nine consecutive monthly declines, the Altos Research 10-City Composite Index posted its first positive reading in May 2010. Remaining positive, however, proved to be unsustainable, as the Index retreated to a flat reading in June.

June 2010 Market Highlights

The Altos Research 10-City Composite Price Index was flat in June and up just 0.2% during the second quarter of 2010.

The Composite - which had shown sequential monthly declines for the past nine months - posted a positive reading during May but was unable to sustain the monthly increase in June.

Asking prices rose in 13 of 26 major markets. San Francisco experienced the sharpest increase in June with prices rising 2.0%.
Listed property inventory jumped in 25 of 26 markets tracked. Inventory increased at the fastest rate in San Francisco and Washington, D.C., up 7.6% and 7.1% respectively during June. During the second quarter, inventory increased by a relatively restrained 5.4% across the Altos Research 10-City Index markets.
As of mid-July housing inventory levels are rising significantly, where last year at this time inventory was contracting.
Housing demand has declined as a result of the end of the federal government’s tax credit, inventory is climbing and the effect on prices appears to just begun.

June 2010 Housing Price Trends

The 10-City Composite Index was flat during the month of June and up just 0.2% during the second quarter of 2010. The Composite Index effectively bottomed out in January 2009 at $470,017, climbed throughout the first half of 2009 to $509,030 in July before returning to a gradual downward trend. The Index stood at $477,937 as of June 2010 reflecting a decline of 6.1% from its 2009 summer high.

The market has been heavily influenced by historically low mortgage rates and by the federal government’s home buyer tax credit. The tax credit applied to homes under contract by the end of April and closed by the end of June, although there have been some efforts in Congress to extend it once again. The tax credit may have pulled some housing demand forward but restrained increases in housing inventory appear to have muted the effect on prices of any drop-off in demand so far.

During June listing prices increased in 13 of 26 major markets, were flat in two and declined in 11 markets. The Bay Area markets of San Francisco and San Jose experienced the sharpest increases in June with prices rising 2.0% and 1.5% respectively. The Bay Area markets also showed the largest increases during the second quarter with San Francisco up 4.4% and San Jose up 2.5%.

The weakest markets were Phoenix and Miami with listing prices falling by 2.4% and 2.3% respectively during June. These markets also showed the largest declines for the second quarter with prices off 3.9% in Phoenix and 4.0% in Miami.

June 2010 Housing Supply Trends

During June, the inventory of properties listed for sale rose by 2.8% across the 10-City Composite Index markets. During the second quarter, inventory increased by a relatively modest 5.4%. Inventory increased in all major markets with the exception of Chicago where it fell by a nominal 0.1%. Nationally inventory is 10% lower than this time in 2009, though climbing rapidly into the summer.

Inventory increased at the fastest rate in San Francisco and Washington, D.C., up 7.6% and 7.1% respectively during June. During the second quarter listed property counts increased by 13.5% and 10.1% in the San Francisco and Washington, D.C. markets. Recent price increases in the San Francisco market appear to have drawn more sellers into the market.

Methodology

The Altos Research Real-Time Housing Report provides data on current housing market conditions in major markets around the country. Unlike other data sources that lag several months behind the market, this report summarizes metrics associated with active residential property listings to present the only real-time view of the housing market.

Each “market” measured in this report is equivalent to the Census Bureau's Metropolitan Statistical Area (MSA) dominated by the city listed. Properties analyzed in this data included repeat sales of single-family homes. Condominiums and town homes are not included in the data set. New construction is not included in the data set. The Altos Research Price Index is a statistical compilation of property prices highly correlated with the S&P/Case Shiller® Index. The Altos 10-City Composite is based on single family homes in Boston, Chicago, New York, Los Angeles, San Diego, San Francisco, Miami, Las Vegas , Washington D.C, Denver.

Lexington is very pleased to be able to bring the Altos Research Real Time Housing Market Update to press for the benefit of our customers, partners and readers, and we are always grateful to Altos Research for providing outstanding market information and analysis. For more information visit ALTOS RESEARCH

Throw The Bastards Out: If We Are To Save All That Is Right About America It Is Time To Send Them Packing For Good

noreply@blogger.com (Scott Schaefer) — Sun, 11 Apr 2010 18:34:00 +0000

I remember it like it was yesterday. It was presidential election season in the run-up to the 1980 election between Jimmy Carter and Ronald Reagan. I was 16 years old and paying a great deal of attention to the election which remains the widest chasm between candidates that I have ever seen. I started, being very excited about observing American democracy at work.

That excitement quickly changed to resentment when I realized that every Democratic politicians I observed was lying and virtually every reporter and journalist not only allowed it, but assisted in the effort, paragons of virtue, one and all. I again shifted course, putting resentment aside, becoming excited once again because I saw things so clearly. The die was cast and I understood the course I had to follow with total clarity. I went to work and did everything I could, to win that one for the Gipper.

It was the perfect election for a young man to learn politics, the contrast so striking between the candidates: Carter who was the most magnificent presidential failure in history, and Reagan who turned out to be the most magnificently successful.

Every Democratic politician I saw was lying like a rug, doing everything they could to assist Carter's reelection effort, with the media completely selling out to help. Surely, everyone saw the corruption, any idiot could see it, couldn't they? It was painfully obvious to me, and the only explanation that stood to reason was that those Democratic politicians and their pep squad from the media was either an idiot or a liar. The liars, I came to learn, significantly outnumbered the stupid, and with my simple, innocent way of viewing it, only served to make them more culpable. I could have forgiven idiots. After all, they don't know any better. But the liars couldn't be forgiven or shown any quarter, because they were intentionally inflicting harm on the country.

Of course, I saw all of this with the total clarity that is only possible for a 16 year old. In studying the same matter now, 30 years later, I'm 46 years old and don't have the benefit of that clarity. However, it turns out that I didn't have to try very hard to see it all again, only the Democratic politicians of today - and their media lapdogs - are far worse than their predecessors of 30 years ago. No lie is too outrageous for these people.

Now I am 46, and the only thing that has changed is that these bastards now have no limits whatsoever. Their zeal to prevail in elections far outweighs the honor they should have had, but don't.

Look at MSNBC's Chris Matthews, for example. This slobbering moron actually said he gets a thrill up his leg when listening to Obama. Bernie Goldberg was right in describing the media's relationship with Obama as a slobbering love affair.

Democratic politicians - progressives - are aided constantly by the mainstream media lapdogs who kneel at the feet of the Dear Leader. Both groups working together in a well orchestrated, yet completely dishonest attempt to attack, ridicule and discredit Tea Partiers.

Rather than view these Americans as people who are unhappy with the direction the country is going, with whom they have genuine disagreement, they lie about the Tea Parties and those who attend them, claiming that the Tea Partiers are just racists. In fact, they claim that anyone who disagrees with Obama is racist. I saw a Democratic Congressman this week claim that those damn Tea Partiers were almost wearing KKK hoods. I haven't had the time to go back and find this lying bastard, but I will. He must be made to atone.

Do you know why the progressives and mainstream media lie so prolifically? It is because it is impossible to support their failed policies intellectually. Instead, they diminish detractors with lies and personal attacks.

I also believe they are scared. They won't admit it, preferring, as they do, to explain away the Tea Party phenomenon as anything but what it really is. The Silent Majority has been awakened and they are pissed.

They won't debate issues intellectually, as they should. Instead the progressives pursue every shifty, devious, dishonest and, quite frankly, unconstitutional path to silencing and discrediting Tea Partiers.

Congratulations. You liars and idiots, you are your own undoing. We let you have your way, unfettered, for about a year, and in that brief time you have deeply hurt this great country. You have hurt the country so deeply that millions of hard working, honorable Americans have had to rise up - just as they did 30 years ago when we elected President Reagan - to protect their families and the nation from the path of certain ruination that Obama and his ilk continue to pursue.

Obama and the liberals, progressives, socialists, idiots and liars prove their mettle every day, unable to be respectful to fellow Americans, preferring instead to call us Astroturf, racists and rednecks.

Have no fear, good people of the Tea Party, for we will prevail. The progressives time is over. They had a year and failed so miserably that they lost Ted Kennedy's Senate seat - a seat more solidly socialist than any district in Moscow. And they lost it to a little known Tea Party Republican.

Do not lose faith, I say to the faithful. We made the difference in Massachusetts. We made the difference in Virginia. We made the difference in New Jersey. And I tell you now that we will make such a difference in November that we will send the dishonest, morally bankrupt, intellectually dishonest progressives packing. Millions of good Americans - Tea Party Patriots all - are mad as hell, and we're going to take our country back.

Remain vigilant, because the progressives haven't given up yet, they're very busy trying to figure ways to steal as many election races as possible. They are morally repugnant, but not dumb, so this 2010 Midterm Election will be a battle - not of ideas, because that battle is already over - but of tactics, games and lawyers.

It will drive you crazy, it will frustrate you, but don't lose heart, because we will take this country back and right its path. I always remember a funny thought that bolsters my spirits when I feel frustrated, and I hope it helps you. Think about how funny it will be when the democrats wheel that Jimmy Carter out on to every stage possible during the fall campaigns, arguing their talking points. Embrace the comedy in that picture, as the second most spectacularly unsuccessful president in history argues on behalf of the most spectacularly unsuccessful president in history.

We will send these losers packing; hopefully for another 30 years. Join me - and millions of others - and we'll save this country. We have no choice. And I don't want to see any hoods at our rallies...see, when the liars sink this low, they've already lost. Me, I'm going to win one more for the Gipper.

Scott Schaefer

Texas Will Lead the Recovery is the Prediction From Experts at Moodys

noreply@blogger.com (Scott Schaefer) — Fri, 26 Mar 2010 03:09:00 +0000

Moody's estimates that US households have lost almost $6 trillion in housing values during the recession.

That's the bad news. The good news is that Texas will outpace the rest of the country coming out of the recession. But that doesn't mean there won't be bumps in the road to recovery, the folks at Moody's Analytics said Tuesday at their annual Dallas economic confab.

There's still some bad news – more woes in store for the battered real estate sector. But Moody's predicts that Texas will find new jobs in health care, high tech and energy.

"This region really does lead the nation in terms of recovery and will be one of the first regions to achieve a new employment peak," Steven Cochrane, Moody's Analytics' managing director, told more than 100 local businesspeople at the session. "The recession was just so shallow here because the housing cycle was shallow.

"Income growth was more stable, and state fiscal conditions are better," he said. "There is a smaller hole to dig out of."

Moody's is forecasting that most Texas markets – including the Dallas-Fort Worth Metroplex – will have made up for the employment lost during the recession, and be adding jobs by late next year or early 2012.

"The central part of the country, and all of Texas, will be among the first to reclaim all of its lost jobs," Cochrane said. The Dallas area is expected to increase employment by about 1.5 percent in 2010 and 3 percent in 2011.

Oil and gas and high tech will be among the sectors that drive job creation in Texas during the next few years, Moody's predicts.

The just-passed federal health care legislation could also add significantly to the employment base, since Texas is one of the states with the highest percentage of consumers who lack medical insurance.

"We will probably see this as a big growth driver in all of the South long term," Cochrane said.

Moody's analysts aren't bullish about the country's housing market. They expect further weakness this year and a slow turnaround when it comes.

"Foreclosures are at best peaking now," Moody's Analytics director Edward Friedman said. "Maybe it will be another three or for months before they finally peak completely, and we see the true turnabout we need to believe the housing market is headed on the right track."

That's why Moody's is forecasting further declines in nationwide home prices during the next six months. "We think another 5 or 10 percent," Friedman said.

Unlike in most economic rebounds, the housing market will continue to drag, he said. "The housing sector – isn't that the sector that leads the recovery?" Friedman said. "Not this time. The rebound so far has only been in the stock market," Friedman said. "You are not getting your housing construction rebound."

Moody's estimates that US households have lost almost $6 trillion in housing values during the recession.

Texas home prices aren't likely to see much of a bounce during the next couple of years, the analysts predict. "Housing isn't a significant driver in the Texas economy right now," Cochrane said.

Moody's also has red flags flying over the US commercial real estate market but doesn't think commercial price adjustments will hurt the economy as badly as the housing sector shakeout has.

March 24, 2010 | STEVE BROWN | Dallas Morning News

Moody’s Says US Debt Could Test Triple-A Rating

noreply@blogger.com (Scott Schaefer) — Sun, 21 Mar 2010 01:42:00 +0000

Even before the massive costs of nationalized health care are added to the federal budget, the crushing deficits of Obama and the Democrats have credit rating agencies facing downgrades to America's AAA credit rating.

The gold-plated credit rating of the United States may be at risk as the nation copes with growing debt. Moody's states that even AAA-rated US Treasury bonds, considered the safest of investments, could be downgraded if Washington continues on its current path of failing to manage the federal debt.

Moody’s said the United States and other major Western nations, particularly Britain, have moved substantially closer to losing their gilt-edged ratings. The ratings are stable, but their ‘distance-to-downgrade’ has in all cases substantially diminished,” the credit rating agency said.

Preserving debt affordability at levels consistent with AAA ratings will invariably require fiscal adjustments of a magnitude that, in some cases, will test social cohesion." Moody's Investor Services

A downgrade would negatively affect the country’s ability to keep borrowing money on favorable terms. If cut, investors will demand higher interest rates on Treasury Bonds.

Those higher rates, in turn, add to the country’s overall debt burden and can force the government to reduce spending, increase taxes or both. That difficulty has been well-illustrated recently in Greece and Portugal, with strikes and protests as citizens march in the streets to oppose tough austerity measures that directly reduce entitlements and state benefits.

“Preserving debt affordability” — the ratio of interest payments to government revenue — “at levels consistent with AAA ratings will invariably require fiscal adjustments of a magnitude that, in some cases, will test social cohesion" said Moody's, with the United States and Britain in the toughest position.

Believe a downgrade to the US Credit Rating can't happen? Moody's cut Japan’s AAA rating last May as the market grew uneasy with Japan’s debt burden.

The Obama administration estimates that the US deficit will rise to 10.6 percent of gross domestic product in the current fiscal year - the highest since World War II - and federal debt will reach 64 percent of gross domestic product. Government expenditures under Obama will rise to a postwar high of 25.4 percent of GDP this year.

Growth will support some governments’ adjustment plans, but no government can rely on it. There is also a danger that, with governments unwilling or unable to begin withdrawing stimulus, central banks will take the initiative to raise interest rates before the economy is ready.

For more extensive economic and political research, please visit our affiliate IntelligentUSPolitics.com

ObamaCare: 46% of Primary Care Physicians Will Quit According to New England Journal of Medicine

noreply@blogger.com (Scott Schaefer) — Wed, 17 Mar 2010 12:00:00 +0000

The New England Journal of Medicine reports in its March-April 2010 issue that 46.3% of Primary Care Physicians will likely leave the practice of medicine if ObamaCare passes. What a raging endorsement for Obama's health care reform plan from the liberal leaning NEJM.

The Dear Leader and leading socialists - I'm sorry, Democrats - should be so proud. They should also be so proud for finding every parliamentary trick available to back door into passing this legislation. Back door being a key phrase, because that's where they are sticking it to Americans. The Democrats clearly don't have the courage of their convictions, which is no surprise, because they have no convictions.

Before you Democrats out there cast your final vote on ObamaCare this week, consider the results of the New England Journal of Medicine study; just another of the unintended consequences of the worst legislation ever in America. Also, consider the rest of the results of the survey:

Physician Support of Health Reform in General
62.7% of physicians feel that health reform is needed but should be implemented in a more targeted, gradual way, as opposed to the sweeping overhaul that is in legislation.
28.7% of physicians are in favor of a public option.
3.6% of physicians prefer the “status quo” and feel that the U.S. health care system is best “as is.

Health Reform and Primary Care Physicians
46.3% of primary care physicians (family medicine and internal medicine) feel that the passing of health reform will either force them out of medicine or make them want to leave medicine.

Health Reform, Public Option, and Practice Revenue (Physician Income)
41% of physicians feel that income and practice revenue will “decline or worsen dramatically” with a public option.
30% feel income will “decline or worsen somewhat” with a public option.
9% feel income will “improve somewhat” with a public option, and 0.8% feel income will “improve dramatically” with a public option.

Health Reform, Public Option, and Physician Supply
72% of physicians feel that a public option would have a negative impact on physician supply, with 45% feeling it will “decline or worsen dramatically” and 27% predicting it will “decline or worsen somewhat.
24% of physicians think they will try to retire early if a public option is implemented.
21% of physicians would try to leave medicine if a public option is implemented, even if not near retirement age at the time.

Health Reform and Recommending Medicine to Others as a Career
36% of physicians would not recommend medicine as a career, regardless of health reform.
27% would recommend medicine as a career but not if health reform passes.
25% of physicians would recommend medicine as a career regardless of health reform.
12% would not recommend medicine as a career now but feel that they would recommend it as a career if health reform passes.

December Existing Home Sales Drop Sharply 2009 Full Year Sales Increase But Prices Decline

noreply@blogger.com (Scott Schaefer) — Sun, 14 Mar 2010 10:39:00 +0000

While the sale of existing US homes fell at the sharpest rate on record in December, when compared to the prior month, sales for the entire year increased almost five percent from 2008 levels. Despite the increase in 2009 sales, prices dropped by 12.4% from 2008 in what is probably the sharpest annual decline since the Great Depression.

Watch for tomorrow's article which provides an in-depth analysis of the local DFW Metroplex housing market. Here's a hint: it's considerably better.

Sales of previously owned US homes fell at the fastest pace on record last month as the boost from a popular tax credit faded. The National Association of Realtors said existing home sales fell 16.7 percent to an annual rate of 5.45 million units in December.

For the entire year, sales rose 4.9 percent in 2009 to 5.156 million units. Prices fell from 2008 by 12.4 percent, "probably the largest annual drop since the Great Depression" NAR chief economist Lawrence Yun said. Distressed homes, which accounted for 32 percent of sales last month, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes in the same area. For all of 2009, the median price was $173,500, down 12.4 percent from $198,100 in 2008; distressed homes accounted for 36 percent of total sales last year.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.93 percent in December from 4.88 percent in November; the rate was 5.29 percent in December 2008.

Existing-home sales in the Northeast dropped 19.5 percent to an annual level of 910,000 in December but are 21.3 percent above a year ago. The median price in the Northeast was $241,700, up 3.2 percent from December 2008.

Existing-home sales in the Midwest fell 25.8 percent in December to a level of 1.15 million but are 8.5 percent higher than December 2008.

The median price in the Midwest was $143,200, which is 1.8 percent above a year ago.

Existing home sales dropped 16.3 percent in the South to an annual pace of 2.01 million homes in December from the prior month, but are 15.5 percent higher than in December 2008. The median price in the South was $152,000, representing just a 1.0% percent decline from a year ago.

Existing-home sales in the West declined 4.8 percent to an annual rate of 1.38 million in December but are 15.0 percent higher than a year ago. The median price in the West was $236,000, up 2.7 percent from December 2008.

Lawrence Yun, NAR chief economist, said there were no surprises in the data. “It’s significant that home sales remain above year-ago levels, but the market is going through a period of swings driven by the tax credit,” he said. “We’ll likely have another surge in the spring as home buyers take advantage of the extended and expanded tax credit. By early summer the overall market should benefit from more balanced inventory, and sales are on track to rise again in 2010. However, the job market remains a concern and could dampen the housing recovery – job creation is key to a continued recovery in the second half of the year.”

Courtesy of HousingZone.com

About

noreply@blogger.com (Scott Schaefer) — Sat, 27 Feb 2010 08:48:00 +0000

The primary author of this blog is Scott Schaefer, a Certified Green Building Professional CGBP home builder in Plano Texas. Schaefer is the Founder and Managing Partner of Dallas home builder and new urban real estate developer Lexington Luxury Builders.

Lexington conceives, designs and builds green built custom homes, luxury townhomes and condominiums, and walkable, eco-friendly, new urban neighborhoods in Dallas, Plano and other unparalleled locations throughout the DFW Metroplex. Schaefer and Lexington develop and build Homes and Neighborhoods designed inexorably with both the natural and urban landscapes. For almost 20 years, Schaefer has created a Sense of Place, enhancing the built environment while protecting our natural environment.

The real estate development and home building industries have been radically impacted by the rapidly expanding demand for green and sustainable products due to climate Change. In these industries, new urban planning and architectural models are creating smart solutions to issues such as Urban Sprawl, while at the same time redefining the urban landscape. New Urbanism, green-building and sustainable development practices are the new paradigm, and they are redefining Dallas and America.

Schaefer was a student and practitioner of New Urbanism well before that moniker became common and believes in the Charter of the New Urbanism. Lexington passionately designs homes and neighborhoods while maintaining Schaefer’s steadfast devotion to construction quality standards, and Green Building and sustainable development practices.

Expanding into Public/Private Partnerships in 2005, Lexington became partners with the City of Plano in expanding the Downtown Plano Transit Village by developing a new residential Transit Oriented Development. Lexington became exclusive developer of the project after a nine month vetting process. Schaefer and Lexington conceived, designed and are building Lexington Park at Rice Field, an eco-friendly, new urban neighborhood two blocks from the Downtown Plano DART light rail station. Lexington Park is a community of ninety-eight luxury townhomes which are entirely green built. condominiums development in Downtown Plano. Lexington has since emerged as a premier developer of new urban neighborhoods and transit oriented residential communities in Texas.

Prior to forming Lexington, Schaefer was a principal with a Dallas-based real estate, private equity firm until June 1996. Schaefer developed a strong background in finance, starting his career as a Financial Analyst at Taylor Financial Services in 1982, where he served in various capacities, up through Vice President Real Estate, until his departure in 1986.

Please visit our Links Page for valuable links on a wide range of subjects, including our newest project, Avignon Windhaven, an enclave of luxury custom homes in West Plano, which is coming soon.

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An Idyllic Snow Covered Day at Lexington Park in Downtown Plano as DFW Metroplex Covered With Snow

noreply@blogger.com (Scott Schaefer) — Fri, 12 Feb 2010 12:33:00 +0000

What an amazing, even idyllic day was Thursday, February 11, 2010 at Lexington Park in Plano, as the DFW Metroplex was sprinkled with a record snowfall.

Lexington Park is a cozy new residential neighborhood in Downtown Plano, by Lexington Luxury Builders. Designed and built by Scott Schaefer as a low-impact, new urban neighborhood, Lexington Park Plano is comprised of 100% green built, eco-friendly luxury condos. View this brief video of a snow day at Lexington Park; Norman Rockwell would have felt right at home, and so will you.

Visit the Lexington Park website or click here to Download Brochure for the available homes and condos at Lexington Park in Downtown Plano.

Green Home Market Segment Increases Substantially

noreply@blogger.com (Scott Schaefer) — Tue, 12 Jan 2010 07:06:00 +0000

The housing market has struggled for the last two years with all segments of the new home market down tremendously, with one notable exception: green built homes. That green segment of the market is on the rise, as Energy Star rated homes now account for nearly 17% of the new single family home market. Quite a jump from a 12% market share in 2007.

The number of homes achieving the government's Energy Star Rating since the program began in 1995 has now surpassed one million homes. Despite the overall housing slump, 75,000 new Energy Star rated homes were added to the rolls in 2009 through the end of October.

An Energy Star Rated home must be at least 20% more energy-efficient than an ordinary new home. This is a substantial upgrade in energy performance, and should be the minimum standard new home buyers should insist upon. "They are better homes," with more efficient windows, lighting, appliances, insulation, and heating and cooling systems, says Maria Vargas of the Environmental Protection Agency's Energy Star program.

Private programs that certify homes as environmentally friendly, such as Green Built North Texas, the award-winning local subsidiary of the NAHB Green Building Program, also report substantial growth. Homes certified as green built by Green Built North Texas mandate energy performance standards exceeding those of Energy Star. All of the homes built by Lexington Luxury Builders in the last two years have exceeded the requirements of both Energy Star and the more stringent Green Built North Texas.

"There's an awakening going on," says Nate Kredich of the US Green Building Council (USGBC), a non-profit group whose rating criteria, like that of Green Built North Texas, are stricter than Energy Star. The number of homes certified by USGBC has increased from 1,151 in 2008 to 3,050 in 2009.

Existing homes are going green, too. A recent survey by USA Today found that 68% of respondents steps in 2009 to make their homes more energy-efficient. Of those who did, 71% said it was mostly to save money and 26% mostly to save the environment. The survey indicates that the green features that sell best are those that pay for themselves quickest, as consumers focus on price.

"The interest in green building is driven by consumers. More people are doing it to save money on their heating bills," says Kevin Morrow of the National Association of Home Builders, whose green certifications jumped from 99 homes in 2008 to more than 564 in 2009. NAHB Model Green Home Building Guidelines are closely followed at Lexington Luxury Builders, who insist that 100% of its homes meet the stringent NAHB Green Built Standards, has built 15 Certified Green Built Homes in the last two years.

Scott Schaefer, Founder and Managing Partner of Lexington, and a Certified Green Building Professional, is one of the founding members of Green Built North Texas and a graduate of the Association’s first Green Builder Certification program.

Lexington is developing and building an entirely Green neighborhood in Plano Texas, believed to be the first 100% green residential development in the region. The neighborhood, Lexington Park at Rice Field, was conceived as a low-impact, sustainable community and designed to achieve LEED Gold certification. For more information on the neighborhood, visit the Lexington Park Website or visit Lexington’s Green Initiatives Website for more on Lexington’s commitment to going green.

Mighty Texas Reigns Supreme in New Population Estimates

noreply@blogger.com (Scott Schaefer) — Tue, 05 Jan 2010 09:17:00 +0000

Every year around Christmas, the Census Bureau releases new population estimates for each state. Given the recession, it's not a surprise that percentage growth, at 0.86 percent, was the lowest this decade. Immigration is down sharply, and some indicators suggest that illegal immigrants, in particular, are returning to their countries of origin.

Florida's growth was well below the national average, as it was in the previous year, in contrast to its torrid growth over most of the last century. California grew at only a little more than the national average, entirely because of immigrant inflow and high immigrant birth rates. More Americans are leaving California and Florida than moving in.

Perennial fast growers Nevada, Arizona, California and Florida have all fallen off. The new fastest growers are demographically tiny Wyoming, followed by Utah at No. 2 with the nation's highest birth rates and largest families.
No. 3 in percentage population growth in 2008-09 was the mighty Texas, which is astonishing given the percentage growth is based on a large enough base to make it the second most populous state in the US. The Texas population grew by almost half a million and accounted for 18 percent of the nation's total population growth.

There may be lessons for public policy here. Texas over the decades has had low taxes, no state income tax, low public spending and regulations that encourage job growth. It didn't have much of a housing bubble or a housing price bust.

Tight limits on tort lawsuits which were put in place by then conservative Governor George Bush, have been continued by conservative Governor Rick Perry, resulting in an influx of both corporate headquarters and medical doctors. Perhaps those purporting to lead the country in the right direction, vis a vis health care reform should take heed.

Reapportionment following the 2010 Census will produce four new seats in the US House of Representatives for Texas. California and its tax and spend policies, and liberal regulations, will not gain seats for the first time since 1850. Come to Texas, it’s great here.

From an original article By Michael Barone of RealClear Politics

A Special Christmas Picture For All Americans…Along With A Christmas Comparison

noreply@blogger.com (Scott Schaefer) — Sat, 26 Dec 2009 02:27:00 +0000

I came across this picture, of George Washington crossing the Delaware, quite by accident the other day. I didn’t do anything with it; after all, what do you do with a picture like this? Then it came to me very early this morning. This is a Christmas picture; an intensely important Christmas picture, if you’re an American. At least it should be.

This very special Christmas Picture is very different from most Christmas pictures you see, as there are no Christian icons, no Santa Claus, no elves and no Christmas trees. It is, however, Christmas. Although most Americans have a vague awareness of George Washington crossing the Delaware, their consciousness is that of a story from folklore, rather than something that really happened. But it did really happen.

Not only did it really happen, it happened on a bitterly cold, ice covered Christmas morning more than 200 years ago. George Washington, along with hundreds of volunteers, crossed the Delaware River, many in tattered clothes, during the American Revolution to insure the establishment of these United States. The move was heralded for centuries as a watershed moment in our Revolution.

So I have published this picture, a Christmas picture, for all Americans. So we all remember. I ask all Americans to remember that the men in this picture, Washington included, were willing to sacrifice everything for the good of the country they were fighting to establish. I also ask you to compare the men in this photo, our forefathers, to those who purport to lead our country now.

Compare to Nancy Pelosi, Speaker of the House of Representatives, who just two weeks ago headed to Copenhagen with two – one was apparently not adequate – private jets for an historic convention on global warming. Comrade Pelosi apologized for America and tried to give away hundreds of billions of American taxpayer dollars to the rest of the world because of the mess we’ve made. And I thought the $30,000 taxpayer dollars she spent this year outfitting her office with fresh flowers was bad.

Compare to Harry Reid, who has played Lets Make A Deal for the last several weeks in an effort to pass socialized medicine in the Senate. At least Harry knew what it took to motivate his fellow democratic Senators: bribes, pay-outs and the most massive earmarks in history.

Compare to Senator Ben Nelson, who would never vote for the healthcare bill because of publicly funded abortions; unless you pay him $100 million. Compare to Senator Mary Landrieu, who was completely on-board with the healthcare bill, especially since she procured $30 billion in special entitlements for Louisiana. And, let’s not forget Joe Lieberman, that bastion of integrity from Connecticut who wouldn’t vote for the bill, until he was paid off.

Compare all of our leaders from 2009 to those men who were willing to sacrifice everything on December 25, 1776. In 2009, the most outrageous leader of them all, the man who promised transparency in government and legislation free from lobbyists and earmarks, is vacationing for ten days in Hawaii. That’s a great deal different from George Washington’s Christmas.

Oh, and please don’t forget that the events depicted in this famous Christmas painting, took place shortly after a Tea Party.

Scott Schaefer

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Dallas Home Prices Firm in Latest Case Shiller Study Decline of 1.6% is Smallest in Almost Two Years

noreply@blogger.com (Scott Schaefer) — Fri, 02 Oct 2009 17:31:00 +0000

Dallas home prices fell by the smallest percentage in almost two years in the latest housing market snapshot.

DFW prices were down only 1.6 percent in July from a year earlier in the closely watched S&P/Case-Shiller home price index.

And local home prices were up from June to July, the fifth consecutive month of increases. The July figure is also the highest point in the home price index since last September.

The small annual decline in North Texas home prices is a big improvement from earlier in the year, when the Case-Shiller index showed that prices were falling by more than 5% from 2008.

The just-released data is more proof that home price declines bottomed in North Texas in early 2009.

"The rate of annual decline in home price values continues to decelerate, and we now seem to be witnessing some sustained monthly increases across many markets," Standard & Poor's David Blitzer said Tuesday in the report. "These figures continue to support an indication of stabilization in national real estate values."

Analysts are keeping an eye on how the housing market reacts later this year when a popular federal home buying tax credit expires.

Nationwide home prices in July were still 13.3 percent below where they were a year earlier. But the index has been higher for three consecutive months, a strong indication that home prices have bottomed out.

US home prices are still almost 30 percent below their peak in mid-2006.

In the DFW area, July home prices were about 4 percent less than they were at the top of the market here in June 2007. The Case-Shiller numbers add to growing evidence that the worst of the North Texas home price shakeout is over.

So far in 2009, the median home sales prices have dropped only about 2 percent in the residential sales industry's Multiple Listing Service. And the Case-Shiller decline estimate is even less.

"That's really saying prices are flat," said David Brown, who heads housing analyst Metrostudy's Dallas office. "That's a very small number." This while some areas of the country are still seeing big home price reductions.

In Las Vegas, prices were down 31.4 percent in July from a year earlier, according to Case-Shiller. Values dropped by 28 percent in Phoenix and 24.6 percent in Detroit.

Case-Shiller tracks the prices of typical single-family homes in each metropolitan area. The index does not include condominiums and townhouses. It only covers pre-owned properties – no new construction. The Case-Shiller researchers compare sales of specific properties over time.

Plano Texas, Dallas’ affluent northern suburb, is faring even better, of late. Analysis prepared by Altos Research which are updated daily, shows trend lines in the Plano housing market with declining inventory and increasing median prices. Lexington Luxury Builders provides these Plano Housing Market Charts for the convenience of our readers.

Original Article reported by STEVE BROWN | The Dallas Morning News

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Download a New Brochure for the Luxury Townhomes at Lexington Park at Rice Field in Downtown Plano

noreply@blogger.com (Scott Schaefer) — Fri, 25 Sep 2009 17:50:00 +0000

Click on the picture to Download Our New Brochure!

Texas Housing Markets Forecast Nation’s Most Stable

noreply@blogger.com (Scott Schaefer) — Thu, 24 Sep 2009 16:30:00 +0000

CARY, NC (Local Market Monitor) – Five large Texas cities and ten smaller ones are among the nation's top markets when it comes to expected home price performance, according to Local Market Monitor’s latest Home Price Forecast.

Among the largest markets — those with populations exceeding 600,000 — Dallas|Plano|Irving, Fort Worth|Arlington, Houston|Sugar Land|Baytown, San Antonio and Wichita Falls filled five spaces on the ten-slot list of cities with the best expected performance in home price over the next year.

The same survey of the smallest US markets revealed ten Texas cities were tops, tied with other cities across the country. These were Abilene, Amarillo, Brownsville-Harlingen, College Station–Bryan, Corpus Christi, Killeen–Temple–Fort Hood, Laredo, Lubbock, Texarkana and Waco.

The study predicts local market behavior over the upcoming 12 months in over 300 markets, identifying those that are stable and have opportunity for growth.

Technorati Tags: housing market recovery,texas housing market,dallas housing market,plano housing market,scott schaefer,lexington luxury builders,lexington park plano

Texas To Lead Economic Recovery

noreply@blogger.com (Scott Schaefer) — Thu, 24 Sep 2009 16:02:00 +0000

SAN ANTONIO (San Antonio Business Journal) – The four major Texas metros will be among the first in the nation to recover from the recession, according to a nationwide forecast by IHS Global Insight.

San Antonio and Austin will lead the way, bouncing back to their prerecession job levels sometime next year, predicts the Lexington, Mass.–based economic forecasting firm.

Houston and Dallas–Fort Worth are among eight other metropolitan areas predicted to recover by 2011.

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Economy and Housing Prices in Texas Rank Highest

noreply@blogger.com (Scott Schaefer) — Wed, 16 Sep 2009 12:59:00 +0000

Texas cities and metropolitan areas boast the strongest economies in the United States, according to a just-released analysis by the Brookings Institution.

In a second-quarter comparison which analyzed the economies of 100 US cities, Austin Texas ranked first, Dallas–Fort Worth ranked fourth and El Paso sixth.

Houston's economy, ranked ninth in the comparison, but ranked first among cities with the biggest increases in home prices. In Houston, home prices jumped 4.9 percent over the last year.

In ranking cities with the strongest home prices, third-ranked DFW had a 3.8 percent increase in home prices, while tenth-ranked San Antonio had a 3.1 percent increase.

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DFW airport OKs $1.5B facelift program

noreply@blogger.com (Scott Schaefer) — Fri, 04 Sep 2009 01:46:00 +0000

Dallas/Fort Worth International Airport reported Thursday that its board approved the first major expenditure tied to a $1.5 billion-plus terminal development program that will renovate Terminals A, B, C and E at the airport.

The terminals, which opened with the airport in 1974, are slated to be part of a project that D/FW considers an important mechanism in keeping the airport top-tier in terms of service and technology.

The board approved a $20.75 million package for preliminary design work on the terminals’ renovation. URS Corp will handle the design.

The entire project is expected to cost between $1.5 billion and $2 billion, with D/FW expecting to pay for the renovations through bond sales, available capital and other sources.

The project will include makeovers of passenger areas and the replacement of electrical, plumbing and heating and cooling systems, as well as telecommunications upgrades.

“While they have served us very well, our four original terminals are 35 years old now, and their internal systems need replacement,” said Jeff Fegan, CEO for the airport. “The renovation of these terminals is critical for the airport's long-term outlook, because this project will keep D/FW highly attractive to customers and cost-effective for airlines well into the 21st century.”

Construction is expected to begin as early as 2011 right after Super Bowl XLV, which will take place in Arlington. Terminal A will be completed in 2014, D/FW said, with the entire project slated for a 2017 end date.

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Dallas Mayor Considering Senate Run

noreply@blogger.com (Scott Schaefer) — Fri, 04 Sep 2009 01:36:00 +0000

Dallas Mayor Tom Leppert did not rule out a run fur the US Senate seat being vacated by Kay Bailey Hutchison, when asked about it at a commercial real estate function Thursday.

"I'm just trying to get through the week," Leppert said, when asked whether he plans to seek the seat.

He again declined to rule out a bid when the Dallas Business Journal asked him about the possibility after the function, saying only that he "feels good about what the city has accomplished."

Leppert, speaking to commercial investment association CCIM, said he expects a wave of corporate relocations to Dallas, as companies consider ways to cut costs in the post-recessionary environment.

"During a recession, everyone is hunkering down, so usually relocation is the last thing you look for," he said. "We're going out and selling Dallas by saying part of the restructuring of companies is bringing costs down," and Dallas' low-tax, pro business environment can help companies achieve the savings they are looking for.

"When we see a recovery, I think Dallas will be very well positioned," he added.

Leppert counted a reduction in crime and implementation of green construction standards among his successes in his first two years in office. The mandatory green building requirements, he said, "position Dallas as a leader" on environmental issues and is important to fight the perception that the city is behind the curve in that area.

The mayor vowed to not raise the tax rate. "When you've got that stable tax rate, it sends the message that this is where we want business to be," he said.

Leppert also said the upcoming construction of a deck park over Woodall Rodgers Freeway will be a big step for the city: "The best part is the strategic hole that it fills, connecting downtown Dallas with Uptown and the Arts District."

Although we don’t know who the rest of the field of candidates may be, Leppert is certainly not a bad candidate…and his candidacy or election would likely be good for Dallas and the Metroplex.