Monday, January 28, 2008

The Good Ol’ Boys Need to be GOOD 'N GONE





Along with most PEC members and Horseshoe Bay residents, I’ve been happy to hear of the retirement of PEC board members Bennie Fuelberg & Bud Burnett. The scandal at Pedernales Electric Cooperative has been mind boggling even by Texas standards. No doubt, many are hoping to hear the last of it. But I agree with assessments as diverse as HSB resident, Republican state Senator, Troy Fraser, members who called for the board resignation last summer, and the editorial staff at the Austin American Statesman. The books need to be open, the audits need to be independent, and ALL the good ol’ boys need to be GONE.

The PEC was established by President Lyndon Johnson during the Great Depression to provide electricity to the Texas Hill County. Based in Johnson City, it now has 220,000 customers, covers 8,100 square miles (larger than the state of Massachusetts) & has $500 million in annual revenue. It’s the largest electrical co-op in the country.

In May, PEC member Lee Beck Lawrence filed a class action lawsuit against PEC and 19 of its leaders accusing mismanagement & seeking reform. Since last year’s lawsuit filing a criminal investigation is now under way. District Attorney Sam Oatman, prosecutor, announced last week that he will open a preliminary investigation of the PEC, including questions raised about excessive board member expense charges. According to recent disclosures in the above mentioned lawsuit, Pedernales executives and board members charged $700,000 from 2002 to 2006 on co-op credit cards for expenses such as first-class airline travel & exclusive hotel stays. Court documents also show that board President W.W. "Bud" Burnett, whose staff role as "coordinator" for the utility enabled him to draw $1 million in pay since 2001, testified that he knew little about the co-op's operations. Burnett had no office, staff, files or regular hours at Pedernales Electric.

Members only recently learned that General Manager Bennie Fuelberg obtained a five-year, $2 million deferred compensation package in 2004, on top of his annual $390,000 salary. The compensation was revealed in November, just months after Fuelberg's salary was reported for the first time in a decade.

The lawsuit is in settlement negotiations. I am hopeful it will lead to the much needed audit & not be limited to the four year period currently listed in the suit, which is restricted to that time frame by the fraud law limit. This board is a failure in their managment, oversight, & responsiveness to member's concerns. The only good place for them to be is GONE.

Monday, January 21, 2008

The Village of Horseshoe Bay





New plans are in the works for updating some of Horseshoe Bay Resort’s favorite amenities. Last Thursday, January 17, Ron Mitchell, Resort Vice Chairman, hosted a community wide meeting at the Marriott to explain the changes, additions, & improvements they would like to make & are currently being considered by the city council. Tomorrow’s (January 22, 2008) 3:00 pm council meeting will discuss the proposal.

Called “The Village at Horseshoe Bay,” it is a study relating to the changes of existing developed & undeveloped properties owned by Horseshoe Bay Resort & includes everything from the renovation of some amenities to a complete relocation & redesign of others. It takes into account current land use of areas abutting Resort owned property such as neighborhoods of single & multi-family homes. A connectivity & traffic impact study was also included. The land in question consists of 14 tracts of land in the corridor from the FM2147 & Horseshoe Bay Blvd. entrance to the Yacht Club as well as property surrounding the existing hotel district, putting course, & Oriental Gardens. The traffic connectivity & impact studies also included projects not owned by the Resort, such as the Marina Village & The Waters. Some of the proposed changes are:

New 22,000 square foot spa
New 10,000 square foot tennis & fitness club
Four relocated new hard surface tennis courts
New tennis & fitness parking
900 foot long lazy river & family pool facility

Completely renovated marina complex & ship’s store

Yacht Club enhancements including a new 24-slip day dock, 10 jet ski ramps, & a casual, lower level lakeside dining facility with outside seating & separate bar area.

The new spa, tennis, & fitness facilities would be relocated beside the existing Oriental Gardens in the area of Hi Circle North, Free Rein, & Short Circuit. The lazy river & pool amenity would enhance the current Whitewater putting course & be convenient to the Marriott Hotel. To help traffic patterns to the newly proposed spa, fitness, & tennis center, they are also planning a new entrance off of FM2147 at what is now the old construction entrance (used when building the Marriott) at about Free Rein & Stones Throw. Additional Marriott parking & Yacht Club parking (two sights) are also included, as well as new foot paths & tram services.

It was an exciting meeting and I, for one, hope residents & the city council will support the Resort's efforts.

Friday, January 18, 2008

You Can Take the Texan out of Texas, but ...







Four years ago I got a phone call from my husband & partner in crime, “Honey! I FOUND IT. The place we’ve been looking for. It’s called Horseshoe Bay & we gotta move here.” My husband travels for work – way more than either of us would like. But this time, was different . Let me explain.

I’m a Texan, born of Texans, several generations back. I met Bus (a.k.a. Roy) in Fort Worth, at a bar (sorry Mom), after an art show. I was still dressed like a cowgirl – hat, boots, jeans, the whole do-dah. The show was at the annual Fat Stock Show at Will Roger’s. Bus is a Yankee so he ain’t from around these parts. I think he fell in love with the hat.

So several years ago, when business took him to Marble Falls, Roy was smitten all over again. Even though we lived in Texas, he’d never been to the Hill Country before and never heard of Horseshoe Bay. When his business was done that first day, Roy’s client, Bob Sewell, of Johnson Sewell Ford invited him to his home in Horseshoe Bay, introduced him to his friends & family, took him for a boat ride, fed him dinner, plied him with liquor – the works. Roy’s originally from Seattle -- hence his love for any & all water. Fortunately, he did get the sunshine & heat gene some Northwesterners are missing.

By the time I got the phone call we were living in Chicago. NOVEMBER. In Chicago. Did I mention I’m originally from Texas? Every year several of us artists would travel to Kerrville, to the YO Ranch to play, photograph, & paint. I’ve been in love with the Hill Country since I first set eyes on it 30 years ago. He didn’t have to “sell” me. Within a few months, we’d made a couple of trips together, found a realtor we loved & bought our first lot. Several years & lots later, Ginny Rhodes, that same wonderful realtor & friend encouraged me get my license & become her partner. Even though Gin & I aren’t working for the same office any longer, we’re still best buds. Thanks, Gin, for everything!

At the time Ginny suggested real estate to me, I was founder, owner, operator, teacher, janitor, bill collector, plumber, supply clerk, bookkeeper, marketing manager, of Renaissance Fine Art School, located in the Chicago suburbs. Roy & I had always dabbled in real estate, so I was intrigued. I’ve come to realize now I've been a Realtor a while, there are many more common skills between the two professions than I would have thought originally. Supervising 20 ART TEACHERS was kinda like herding cats. So is coordinating sellers, buyers, inspectors, title companies, builders, developers, bankers – you get the picture. Try negotiating contracts without being CREATIVE! There are no ugly houses -- only untapped POTENTIAL!

Blending my two professions took a little bit of work, but it was well worth it. I’m very lucky. I get to live, work, & play in Paradise. Come visit us in Horseshoe Bay. You’ll see what I mean!

Tuesday, January 15, 2008

LET'S BACKTRACK







I thought, for my next several postings, I should share some general information about Horseshoe Bay: the city, resort, subdivisions, surrounding area, & maybe some information about myself. Today’s post will include general information about Horseshoe Bay.

Horseshoe Bay is a newly incorporated city which includes, but is not limited to, Horseshoe Bay Resort. The Resort is a private, member’s only club. It takes in several subdivisions which will be the topics for future postings. Horseshoe Bay Resort, built on the shores of Lake LBJ has 3 championship Robert Trent Jones golf courses, a one-of-a-kind, par 72 putting course, three stunning swimming pools, a beautiful white sand beach, state-of-the-art spa and fitness facility, full-service marina, first-class restaurants, twelve professional tennis courts & a 300 plus room Marriott Hotel.

The Resort also has a Jet Center that can accommodate DC 9 aircraft & has recently purchased three 30 passenger jets they will use as charter aircraft to market golf packages in and outside of Texas. They also have signed a contract with a small passenger jet liner to include jet service into our airport for resort members & guests. We also have a "fly-in" community around the jet center & the new SKYWATER development (see below) will also be adding their own aircraft friendly enclave, as well.

Resort initiation fees and dues are a remarkable value. E-mail me for more specific information: janlbusse@gmail.com Some properties qualifiy for a membership initiation fee waiver.

We started investing in Horseshoe Bay about 4 years ago, and feel even stronger today than we did then. I think there are several big factors that continue to make our property values so strong.

First, our prices are still significantly below most resort communities, in Texas & around the U.S. Across the board, homes are less expensive here than in most major markets. MORE IMPORTANTLY the Texas economy & housing industry remain strong while the rest of the U.S. is undergoing a market correction. Central Texas in particular keeps getting kudos for our affordability & quality of life: Business Week article. Our property values never soared & our buyers rarely used second tier mortage money, which has been so hard hit outside of Texas.

Second, is the marketing money being pumped into HSB by a number of major, national players:

SKYWATER, a brand new Jack Nicklaus designed golf community, Tom Fazio designed ESCONDIDO golf club, & the Hill Country Marriott . All have national campaigns. ESCONDIDO & SKYWATER are separate, members only clubs, but many of their members are also members at HSB Resort. Both are located in the city of Horseshoe Bay. If you’re counting, we’re now up to FIVE world class golf courses.

Third, our proximity to Austin & San Antonio gives us the best of both worlds: cosmopolitan convenience coupled with small town charm. With today’s technology, Horseshoe Bay is a serious candidate for commuters & business people who office from home. Located in the geographic center of the state, we’re an hour from either Austin’s or San Antonio’s international airports, & half an hour from regional shopping, world class medical facilities, arts, & entertainment.

Fourth, Lake LBJ is a constant level lake, with no more than a foot variation in water level, (See January 14, 2008’s post about lowered lake levels) it is regulated by the Lower Colorado River Authority. Droughts and floods don't affect LBJ, unlike most other lakes. Your investment is secure & our mild climate makes it easy to enjoy the outdoors 12 mos a year.

IT’S ALL ABOUT LIFESTYLE: Enjoy the bustle of hotels, shops, sports, & fine dining, the exclusivity of a privately gated community, waterfront property, or the serenity of endless hills & equestrian estates. The choice is yours – the LIFESTYLE IS HORSESHOE BAY.

Monday, January 14, 2008

From Lake Front to Creek Side in Less Than A Week








My first blog entry & it’s quite an event! Horseshoe Bay, built on the shores of beautiful Lake LBJ has a new look! The lake level is down five feet and what were once coves & canals are now dry beds and trickling creeks. My husband & I live on the open cove where Slick Rock Creek flows into the lake. You can see by the photos the change is dramatic! All of what looks like beach -- the areas without vegetation -- is normally under water. It took about three or four days to slowly draw down the water. The last time the lake was lowered was 2005. The Lower Colorado River Authority (LCRA) says it will take about the same amount of time to refill. They chose now to avoid with the tropical storm season, the peak system recreational demand, & prime fish spawning, which begins in March.



My husband, Roy, Dutch our chubby chocolate Lab, & Dutch's skinny & beautiful girlfriend, Lady went out this weekend to check our waterfront lots. It was a beautiful weekend, about 67 degrees and bright sunshine. The first photo above is from our lot in Wilderness Cove. It's one of my favorite subdivisions on LBJ, private & gated, with estate sized lots & over 65 acres of green belt. We're in the final planning stages of building a spec house on lot #7. It won't be listed until it's further along, but I do have a virtual tour for it. Look at the difference from just a few months ago when the lake was full: Wilderness Cove #7 virtual tour. We ARE marketing lot #35 in Wilderness Cove. Find it & all my other listings on my real estate web site: http://www.janbusse.com/


Photo #2 is from our lot on Applehead Island, virtual tour which is also in the MLS & on my web site. It's one of the few remaining open water lots on the Island. The final photo is a view from our dock, looking up the cove toward Quail Point. Quite a dramatic change from just over a week ago!


We’re very lucky on Lake LBJ: it’s one of the very few constant level lakes in the country. Because of Ferguson Power Plant, our lake levels don’t fluctuate more than twelve inches unless a planned event like this is scheduled. The plant is natural gas powered & cooled by the waters of the lake. In cool weather, jet skiers love the plant's warmer waters. Whether the rest of the Highland Lakes are dry or flooding, Lake LBJ is still within twelve inches of its normal level! Just another reason property values are so strong on our lake.

Since the 500 year event floods last spring & summer, the LCRA approved extending the already slated lake lowering from four to eight weeks. This will give residents time to repair & maintain docks & boat houses and allow for shoreline maintenance, debris cleanup and controlling nuisance plants. We did our major repair last summer, but plan to do some dredging under the boat house while we have the opportunity. If you’re planning on doing lake work, you’ll need to apply for a permit during the draw down. Be ready, however to remove any equipment quickly. If there’s an unexpected flood or more hydroelectric units need to be operated on the upper Highland Lakes, the lake will have to be refilled on short notice.

IMPORTANT TO FELLOW WATERFRONT OWNERS:

My good friend & fellow Keller Williams agent, Ray Gill reminded Roy & I to turn off our automatic lawn sprinkler system that siphons lake water! Good thing he did -- the intake is laying in the mud right now.