This is a question every buyer and seller must ask themselves at some point in the decision to buy or sell a house. As relative new commer to the professional world of real estate the points made in this article by Realtor.com are right on. The issues are varied, complex, legally binding, and no place for the uninformed. All you have to do is go thru the finance process or sign 20 pages plus at the closing as you hand over your cashiers check to understand the need for a trusted professional to help keep you out of trouble. I have always thought that the best definition of a profession is that thru their education and expiriance they able to anticipate the issue or problem before it occures so that it can be avoided or so that a well thought action plan is already in place. Think of a pilot that must alway know what a plane is going to do before it happens.
This has always been the case with real estate, but in todays very difficult economic climate, a real estate pro is not an option.
Why Consumers Need Proper Representation from Real Estate Professionals | REALTOR.com® Blog
________________________________________
Why Consumers Need Proper Representation from Real Estate Professionals
Posted: 15 Feb 2012 06:00 AM PST
Our belief – one of our CORE beliefs – is that consumers are best served through proper representation from a licensed professional.
For most, buying or selling a home is an infrequent transaction with enormous financial and emotional considerations.
It’s stressful, emotionally-charged and high-stakes. Having a real estate professional central to the process of pricing, listing, selling and purchasing a home is important; real estate is not entertainment, and it’s not a game – bad data, inaccurate “value estimates,” and inflating inventory levels on websites creates confusion about what’s really happening in a market.
We understand that serious consumers want the real facts about a market. And we understand that these consumers also want to find a professional who can clearly articulate what these facts mean to their personal situation.
That’s why REALTOR.com® works tirelessly to be the most accurate site with the largest database of homes for sale. And that’s why we update most listings every 15 minutes.
Consumers know they can trust the data; the quality and accuracy of the listing content is second to none.
But searching for homes and researching the market is just the beginning. Market conditions vary from city-to-city and neighborhood-to-neighborhood. So when consumers move forward and take their search from online to real-life, we help them with the next step:
Connecting with a local real estate professional that can help.
A professional that’s immersed in local trends. Well versed in neighborhood nuances. Someone who can take the science of real data and apply it to the art of local real estate.
For sellers, this professional is someone who can navigate changing markets deftly and help price a home appropriately. Someone that helps ensure a smooth ride all the way from contract acceptance to settlement.
For buyers, this professional is a sounding board during their search, and their advocate during contract negotiations all the way to the first day in a new home.
Ultimately, there is a lot more than search to consider throughout the course of a transaction.
Pricing. Negotiations. Offers. Counter-Offers. Contracts the size of novellas. Addenda. Financing. Contingencies. Walkthroughs. Punch Lists. The list goes on and on and on. Navigating all of this takes skill and determination, and licensed real estate professionals are just the folks that can help.
After all, it’s what they do for a living, 24-7, 365.
Wednesday, February 15, 2012
Thursday, February 9, 2012
Buyer and Seller Hints from Trulial.com
The following is from a Trulia newsletter written by TAra-Nicholle Nelson a broker in San Francisco.
I while I may not totally agree 100% with everything written, she does hit some very important areas. Buyers need space to take ownership and discuss the pros and cons of any house. People tend to buy emotionally and justify logically. The emotional side needs time to see themselves in the home and imagine their furnishing.
Messy doesn't just mean that our Lab Dutch created a mess or licked the sliding door. Messy can just mean too much stuff! Make sure they can see the beauty of the home. They may be cross state rivals and don't like all your alma mater "stuff".
Today it is still a buyer market. Make sure your home is competitively priced, not necessarily what you would like to sell it for. The highest selling prices are achieved in the first couple of months. Pricing high and thinking you can always reduce the price is not a good proven strategy.
Finally, make sure your agent is knowledgeable and proficient with the internet. 80% plus buyers start by viewing property on line.
Talk to you soon. Roy
6 Ways to Turn Off Your Home's Buyer (or Seller!)
10
Posted under: Home Buying, Home Selling, Financing | February 8, 2012 1:32 PM | 44,999 views | 84 comments
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In the wild world of dating, when you encounter a “turn-off,” you can just pack it in and not to go on another date with that guy or gal again. But turnoffs can be much more detrimental when they come up in the realm of your real estate goals. Indeed, turn a buyer off, dear sellers, and you risk not selling your home - period - or getting a lower price than you might have otherwise.
And, contrary to what you might assume, the same goes for buyers. Even in today’s ‘buyer’s markets,’ multiple offers do happen. And even in cases when you’re the only buyer on the scene, having a cooperative seller goes a long way toward everything from getting access to the place for inspections to getting a price reduction when the appraisal comes in low. Thus, the potential still exists for buyers to turn sellers off, and risk having their dream home slip right through their fingers.
As you proceed on your quest for drama-free real estate, factor in these frequently occurring gaffes that turn off buyers and sellers, and my tips for avoiding them.
Top 3 Ways to Turn a Buyer Off: If you’re a seller courting buyers, here are 3 faux-pas to avoid:
1. Hanging out when buyers are viewing your home: Buyers stalk properties online and off, checking obsessively for price reductions and the like. But buyer-side home stalking is unobtrusive to sellers. On the other hand, buyers can feel personally stalked and stifled in their ability to fully explore or verbally process their impressions of a home when you, seller, hang out inside your home while it’s being shown.
As soon as a buyer sees you in the house, it instantly becomes much more difficult for them to”
(a) envision themselves living there (it’s your house, after all),
(b) be comfortable opening up drawers, closet doors, etc., and
(c) express their thoughts about how this house might be exactly what they’re looking for, if they can knock out that wall and get rid of those cukoo murals you so lovingly painted in your children’s rooms.
Sellers: If you want to sell your home, it’s best to not be around when buyers are looking. Give them some breathing space and a chance to truly walk around and consider what they like and/or dislike about your home without lurking and looming (and, let’s be real - eavesdropping) nearby.
2. Showing a messy house: Life gets hectic, and it’s easy for things like laundry, dishes and other house cleaning tasks to fall by the wayside. It’s also difficult to keep the home in which you and your 4 kids, 3 gerbils and 2 Labrador Retrievers live perfectly spotless for months at a time, while you’re waiting for an offer. But when you decide that you’re going to sell your home, it’s imperative that you make a pact and a plan with yourself and your family that the place will be in tip-top shape when buyers come knocking.
Remember: your home is competing with dozens of others, as well as with buyer’s HGTV-infused visions of what their next home should look like, so first impressions really count.
Sellers: Stuffing the closet is not the answer. (Buyers will be opening that closet door, after all.) Pack up your personals like you were moving (best case: you are), and put all but the essentials in storage, if needed. Get the carpets cleaned, do the dishes, make the beds, mow the lawn, dust, sweep and mop. Ask your agent to give you a gut check on whether your idea of clean is clean enough (better yet - ask them for the number of a house cleaner who you can engage to get the job done to showable standards).
This might all seem obvious, but agents and buyers alike are constantly amazed at the condition of some of the homes they walk into. Take my word for it; I’ll spare you the ‘ewww’-inducing stories.
3. Overpricing your home: Buyers already have lots to do before making the largest purchase of their lives. They have to wrangle their finances into order, jump hoops to qualify for a loan, collect the cash for down payment and closing costs, and invest sometimes hundreds of hours into market research and house hunting. With all of this already on their plates, the prospect of trying to negotiate down a crazily high asking price is just too much work (and too outside their comfort zones) for most buyers to deal with. The average buyer won’t even bother looking at your home if the asking price is clearly high and off base compared with other similar, nearby homes for sale; they’d rather sit tight and wait .
Sellers: Price to sell from the beginning. Work with your agent to determine a price that is supported by the data on how much nearby homes have recently sold for. You’ll save yourself a lot of time and anguish and get a lot more legitimate bites from serious, qualified buyers.
Top 3 Ways to Turn a Seller Off: Buyers, if you want a home’s seller to play ball, best practice is to avoid these 3 pitfalls:
1. Unjustified, extreme lowball offers: It’s no secret that buyers have the upper hand in many markets right now. (To be clear, I said ‘many’ - not ‘every’ - your agent can help you understand what the dynamics are in your market.) But let’s be realistic, here. No seller can afford to give away their home at a price far below what it’s worth on today’s market. Lowballing a seller at a price far below the recent sales prices of similar homes in the neighborhood on the ‘let’s-take-a-stab’ plan, is highly likely to turn them off. And that, in turn, will cause the seller to view your offer - and you - as disrespectful and wasteful of their time.
Not only will they turn down your offer, but they may not even bother with a counteroffer, rendering your efforts at securing that particular home dead in the water.
Buyers: Review the recent sale prices of similar homes in the neighborhood (aka “comps”) with your agent before you make your offer. Also, ask them to help you factor in other market data, like the average list price-to-sale price ratio and the average number of days neighborhood homes stay on the market. It’s all right to come in lower than asking, if the market data supports such an offer; just be sure your offer is based on reality - and not your fantastical hallucination about scoring the bargain of the millennium.
2. Buyer-side mortgage fails: Plenty of employed buyers with decent credit and cash in the bank have been turned down for a mortgage these past few years. That means buyers can’t assume (a) that they’ll be approved for the amount of loan they need to buy the house they want, or (b) that they’ll be approved for a loan at all. Your inability to get approved for a home loan can create all sorts of problems not just for you, but also for your home’s seller. The average seller’s worst case scenario is that they accept your offer only to find out a few weeks, or months, later that you can’t get the loan you need to close the deal.
Buyers: It’s not overkill to start working with a mortgage professional as far as six months or a year in advance of starting your house hunt to get pre-approved for a loan. Make sure you get a clear understanding of the amount you qualify for, then work with your real estate agent from there to determine the price range you should house hunt in. And whatever you do - don’t buy a new car, open new credit cards or even change your line of work before your escrow closes, unless you consult closely with your mortgage professional before you make that move.
Tip for Sellers: Work with your agent to vet buyers before you sign a contract. Factor in their down payment and earnest money deposit, and feel free to counteroffer these items, not just the offer price. It’s not overkill to have your agent contact the buyer’s mortgage broker to see how reliable the buyer’s pre-approval really is.
3. Bashing the seller’s home: Home bashing happens when buyers start bad-mouthing (aka “trash talking”) the place and/or the neighborhood in hopes of getting a lower asking price. Examples: pointing out all the foreclosures in the area, saying the house down the street just sold for much lower than the asking price on this house, saying you’ll need to rip out the entire kitchen before you even consider moving in - saying any of these things to a seller who happens to be at home during the showing or the inspection is probably one of the fastest ways to turn them all the way off.
Buyers: Bad-mouthing a house or neighborhood won’t work to get you a lower price. Instead, it only serves to irritate the seller and motivate them to come up with all sorts of reasons why they shouldn’t sell their home to you! Remember: homes hold incredible emotional experiences for owners. Make an offer you’re comfortable with and keep the negative comments to yourself.
If there are legitimate, factual reasons underlying your decision to make an offer at a price the seller might see as a lowball, ask your agent to respectfully communicate those facts to the seller’s agent.
I while I may not totally agree 100% with everything written, she does hit some very important areas. Buyers need space to take ownership and discuss the pros and cons of any house. People tend to buy emotionally and justify logically. The emotional side needs time to see themselves in the home and imagine their furnishing.
Messy doesn't just mean that our Lab Dutch created a mess or licked the sliding door. Messy can just mean too much stuff! Make sure they can see the beauty of the home. They may be cross state rivals and don't like all your alma mater "stuff".
Today it is still a buyer market. Make sure your home is competitively priced, not necessarily what you would like to sell it for. The highest selling prices are achieved in the first couple of months. Pricing high and thinking you can always reduce the price is not a good proven strategy.
Finally, make sure your agent is knowledgeable and proficient with the internet. 80% plus buyers start by viewing property on line.
Talk to you soon. Roy
6 Ways to Turn Off Your Home's Buyer (or Seller!)
10
Posted under: Home Buying, Home Selling, Financing | February 8, 2012 1:32 PM | 44,999 views | 84 comments
..
Email AlertsSend to a FriendPost to FacebookPost to Twitter
RSS
.
In the wild world of dating, when you encounter a “turn-off,” you can just pack it in and not to go on another date with that guy or gal again. But turnoffs can be much more detrimental when they come up in the realm of your real estate goals. Indeed, turn a buyer off, dear sellers, and you risk not selling your home - period - or getting a lower price than you might have otherwise.
And, contrary to what you might assume, the same goes for buyers. Even in today’s ‘buyer’s markets,’ multiple offers do happen. And even in cases when you’re the only buyer on the scene, having a cooperative seller goes a long way toward everything from getting access to the place for inspections to getting a price reduction when the appraisal comes in low. Thus, the potential still exists for buyers to turn sellers off, and risk having their dream home slip right through their fingers.
As you proceed on your quest for drama-free real estate, factor in these frequently occurring gaffes that turn off buyers and sellers, and my tips for avoiding them.
Top 3 Ways to Turn a Buyer Off: If you’re a seller courting buyers, here are 3 faux-pas to avoid:
1. Hanging out when buyers are viewing your home: Buyers stalk properties online and off, checking obsessively for price reductions and the like. But buyer-side home stalking is unobtrusive to sellers. On the other hand, buyers can feel personally stalked and stifled in their ability to fully explore or verbally process their impressions of a home when you, seller, hang out inside your home while it’s being shown.
As soon as a buyer sees you in the house, it instantly becomes much more difficult for them to”
(a) envision themselves living there (it’s your house, after all),
(b) be comfortable opening up drawers, closet doors, etc., and
(c) express their thoughts about how this house might be exactly what they’re looking for, if they can knock out that wall and get rid of those cukoo murals you so lovingly painted in your children’s rooms.
Sellers: If you want to sell your home, it’s best to not be around when buyers are looking. Give them some breathing space and a chance to truly walk around and consider what they like and/or dislike about your home without lurking and looming (and, let’s be real - eavesdropping) nearby.
2. Showing a messy house: Life gets hectic, and it’s easy for things like laundry, dishes and other house cleaning tasks to fall by the wayside. It’s also difficult to keep the home in which you and your 4 kids, 3 gerbils and 2 Labrador Retrievers live perfectly spotless for months at a time, while you’re waiting for an offer. But when you decide that you’re going to sell your home, it’s imperative that you make a pact and a plan with yourself and your family that the place will be in tip-top shape when buyers come knocking.
Remember: your home is competing with dozens of others, as well as with buyer’s HGTV-infused visions of what their next home should look like, so first impressions really count.
Sellers: Stuffing the closet is not the answer. (Buyers will be opening that closet door, after all.) Pack up your personals like you were moving (best case: you are), and put all but the essentials in storage, if needed. Get the carpets cleaned, do the dishes, make the beds, mow the lawn, dust, sweep and mop. Ask your agent to give you a gut check on whether your idea of clean is clean enough (better yet - ask them for the number of a house cleaner who you can engage to get the job done to showable standards).
This might all seem obvious, but agents and buyers alike are constantly amazed at the condition of some of the homes they walk into. Take my word for it; I’ll spare you the ‘ewww’-inducing stories.
3. Overpricing your home: Buyers already have lots to do before making the largest purchase of their lives. They have to wrangle their finances into order, jump hoops to qualify for a loan, collect the cash for down payment and closing costs, and invest sometimes hundreds of hours into market research and house hunting. With all of this already on their plates, the prospect of trying to negotiate down a crazily high asking price is just too much work (and too outside their comfort zones) for most buyers to deal with. The average buyer won’t even bother looking at your home if the asking price is clearly high and off base compared with other similar, nearby homes for sale; they’d rather sit tight and wait .
Sellers: Price to sell from the beginning. Work with your agent to determine a price that is supported by the data on how much nearby homes have recently sold for. You’ll save yourself a lot of time and anguish and get a lot more legitimate bites from serious, qualified buyers.
Top 3 Ways to Turn a Seller Off: Buyers, if you want a home’s seller to play ball, best practice is to avoid these 3 pitfalls:
1. Unjustified, extreme lowball offers: It’s no secret that buyers have the upper hand in many markets right now. (To be clear, I said ‘many’ - not ‘every’ - your agent can help you understand what the dynamics are in your market.) But let’s be realistic, here. No seller can afford to give away their home at a price far below what it’s worth on today’s market. Lowballing a seller at a price far below the recent sales prices of similar homes in the neighborhood on the ‘let’s-take-a-stab’ plan, is highly likely to turn them off. And that, in turn, will cause the seller to view your offer - and you - as disrespectful and wasteful of their time.
Not only will they turn down your offer, but they may not even bother with a counteroffer, rendering your efforts at securing that particular home dead in the water.
Buyers: Review the recent sale prices of similar homes in the neighborhood (aka “comps”) with your agent before you make your offer. Also, ask them to help you factor in other market data, like the average list price-to-sale price ratio and the average number of days neighborhood homes stay on the market. It’s all right to come in lower than asking, if the market data supports such an offer; just be sure your offer is based on reality - and not your fantastical hallucination about scoring the bargain of the millennium.
2. Buyer-side mortgage fails: Plenty of employed buyers with decent credit and cash in the bank have been turned down for a mortgage these past few years. That means buyers can’t assume (a) that they’ll be approved for the amount of loan they need to buy the house they want, or (b) that they’ll be approved for a loan at all. Your inability to get approved for a home loan can create all sorts of problems not just for you, but also for your home’s seller. The average seller’s worst case scenario is that they accept your offer only to find out a few weeks, or months, later that you can’t get the loan you need to close the deal.
Buyers: It’s not overkill to start working with a mortgage professional as far as six months or a year in advance of starting your house hunt to get pre-approved for a loan. Make sure you get a clear understanding of the amount you qualify for, then work with your real estate agent from there to determine the price range you should house hunt in. And whatever you do - don’t buy a new car, open new credit cards or even change your line of work before your escrow closes, unless you consult closely with your mortgage professional before you make that move.
Tip for Sellers: Work with your agent to vet buyers before you sign a contract. Factor in their down payment and earnest money deposit, and feel free to counteroffer these items, not just the offer price. It’s not overkill to have your agent contact the buyer’s mortgage broker to see how reliable the buyer’s pre-approval really is.
3. Bashing the seller’s home: Home bashing happens when buyers start bad-mouthing (aka “trash talking”) the place and/or the neighborhood in hopes of getting a lower asking price. Examples: pointing out all the foreclosures in the area, saying the house down the street just sold for much lower than the asking price on this house, saying you’ll need to rip out the entire kitchen before you even consider moving in - saying any of these things to a seller who happens to be at home during the showing or the inspection is probably one of the fastest ways to turn them all the way off.
Buyers: Bad-mouthing a house or neighborhood won’t work to get you a lower price. Instead, it only serves to irritate the seller and motivate them to come up with all sorts of reasons why they shouldn’t sell their home to you! Remember: homes hold incredible emotional experiences for owners. Make an offer you’re comfortable with and keep the negative comments to yourself.
If there are legitimate, factual reasons underlying your decision to make an offer at a price the seller might see as a lowball, ask your agent to respectfully communicate those facts to the seller’s agent.
Wednesday, February 8, 2012
The Basis of a Sucessful Business
Roy here. The basic foundation of any business is the relationships built with clients. The type of business does not matter. The trust that is developed with a client is a combination of a number of elements, but until the relationship reaches a point that honest dialog can be accepted and trusted, the expansion of the business will be a long and difficult process. People know when they deal with anyone who is trying to sell something there are multiple agendas. That is why Google and many others enable people to see the expiriance others have had with the business.
“We wanted the peace of mind of buying new or near new construction in a tough market with a thin inventory of newer homes available in our price bracket. Jan showed us the options available in the immediate HSB area and then widened her search to the greater Highland Lakes area. Since we could only travel to Central Texas on occasional weekends to actually visit properties, Jan made excellent use of modern Internet technology to help us screen properties so that our buying trips were the most productive possible. After we focused on a property to purchase, Jan’s persistence with the sellers and patience with us – coupled with her attention to detail and great local contacts for inspectors and tradesmen – made us proud buyers of a new home, with a happy seller on the other side of the deal too!”
-- Russ & Beth Mortenson, Spicewood
“We wanted the peace of mind of buying new or near new construction in a tough market with a thin inventory of newer homes available in our price bracket. Jan showed us the options available in the immediate HSB area and then widened her search to the greater Highland Lakes area. Since we could only travel to Central Texas on occasional weekends to actually visit properties, Jan made excellent use of modern Internet technology to help us screen properties so that our buying trips were the most productive possible. After we focused on a property to purchase, Jan’s persistence with the sellers and patience with us – coupled with her attention to detail and great local contacts for inspectors and tradesmen – made us proud buyers of a new home, with a happy seller on the other side of the deal too!”
-- Russ & Beth Mortenson, Spicewood
Monday, February 6, 2012
Lake LBJ...One of the happiest places on earth
Roy here. Here is some information and a link for Lake LBJ. Many of us know how beautiful the "Hill Country" of central Texas is. The rolling terrain and evergreen vegetation is very special in area that is warm most of the year. When Jan and I came to the Texas she wanted to be in the Hill Country and I wanted to be near or on the water. Horseshoe Bay and Lake LBJ were the perfect combination. LBJ is a spectacular lake with great boating , fishing, jet skiing, moonlit cruises, fireworks, lake shore homes, and the list goes on. Water is very special in many ways, but to me the water is therapeutic. Just sitting on the shore and watching the waves or people having fun makes me feel good. And when you have children and grand children swimming, being towed on an inflatables laughing and enjoying the water, we are reminded again why we love Horseshoe Bay and Lake LBJ.
Lake LBJ Visitors & Tourist Guide
In the Highland Lakes of Central Texas
.
Lake LBJ boating and fishing are very popular.Lake LBJ, named after President Lyndon B. Johnson, is part of the Highland Lakes chain of six lakes starting in Austin and going northwest for over 85 miles. Lake LBJ starts at Kingsland and goes all of the way to Horseshoe Bay, 45 miles northwest of Austin. The lakes include Lake Buchanan, Inks Lake, Lake LBJ, Lake Marble Falls, Lake Travis and Lake Austin. A seventh lake, which is not considered a part of the Highland Lakes chain, is Lady Bird Lake in Austin.
Lake LBJ is one of the largest normally a constant level lake in the United States, and is just over 21 miles long with a maximum width of 10,800 feet. Lake LBJ is perfect for sailing, boating, waterskiing, jetskiing, and all water related activities. Lake LBJ is one of the most popular lakes in Texas.
Sailing on Lake LBJ
Lake LBJ is a very popular lake for boating, waterskiing and jet skiing. Tourists are attracted from all over Texas and the U.S. to take advantage of this big beautiful lake. Many people in Austin, Houston, San Antonio, Dallas and west Texas own weekend lake homes on Lake LBJ. Many of these people also retire in the area around Lake LBJ.
Relaxing by Lake LBJ
The shores of Lake LBJ are dotted with nice homes with boat houses and automatic boat lifts. There are several communities along Lake LBJ: Kingsland, Highland Haven, Granite Shoals, Sunrise Beach, Deer Haven, Blue Lake and Horseshoe Bay. Lake LBJ is a great retirement area as well as a recreational area. This area has been rated in the top three areas of the U.S. for retirement.
Lake LBJ is a great place to rent lake rental houses, cabins, or condos near the water. All are open year round. RV Parks located on the waterfront of Lake LBJ in Kingsland, allow you to enjoy watching all of the boating activity on the lake. The sunsets and sunrises are absolutely beautiful over the lake. The lake rental homes along Lake LBJ are popular with people who want family reunions or gatherings of friends at the lake.
The lake is perfect for boating and
is not usually overcrowded.If you do not see a list of over 40 links to click on in a frame
at the left - click here for a lot more information about Lake LBJ.
Saturday, February 4, 2012
New Horseshoe Bay West Low Water Crossing Bridge
Horseshoe Bay West is replacing a "low water" crossing with a new bridge that will enable golfers to travel under the bridge to the next hole. More important, the bridge will enable larger trucks and trailers to move across the creek safely without the problem of getting stuck with a heavy load because of the incline and wet tires. In addition, it should enable residents of HSB West to continue to use the HSB Boulevard entrance during sever storms. Either way it is a much needed and appreciated addition to Horseshoe Bay.
Wednesday, February 1, 2012
LCRA Announces New Lake LBJ Power Plant
| Ferguson Replacement Project is underway! This is a critical and important project for Horseshoe Bay. Not only is safe, reliable, cost effective power a critical service for the area in it's future growth, the plant is reason that lake LBJ is a constant level lake. To appreciate the importance of that statement, go on line and look at photos of Lake Travis which is now down over 40 feet from it's normal level. The constant level enables building permanent docs. It enables recreation 365 days per year. The water support the 5 golf courses in the area and the list goes on. There is no single event that has a more fundamental impact on the area. This investment by the LCRA guarantees the HSB way of life for years to come. |
 |
 LCRA plans to replace its Thomas C. Ferguson Power Plant near Marble Falls with a new natural gas-fired power plant that will be one of the most efficient, reliable and environmentally responsible electric generating facilities operating in Texas.The project involves building an approximately 540-megawatt (MW), combined-cycle power facility to replace the aging 420-MW Ferguson Power Plant, which was built in 1974. The LCRA Board of Directors in April 2011 authorized staff to move forward with the project, and in August, approved a contract to build the new plant with Fluor Corporation. Once LCRA receives the required air permits, LCRA will issue a Notice to Proceed to Fluor. Fluor will then finalize the project schedule, which likely will include a two-year construction phase to bring the new power plant on-line in 2014. LCRA will build the new unit at the Ferguson site on Lake LBJ. The existing power plant will be retired following completion of the new facility. Replacing Ferguson will help LCRA provide its wholesale electric customers with more competitively priced power over the long term because a combined-cycle power plant will be more efficient, more cost-effective and more reliable than Ferguson.
|
Tuesday, January 31, 2012
Texas residential real estate continues very strong as compared to the balance of the economy. Horseshoe Bay also remains very strong. In fact you might think that the big boys know something about the near future. A new bridge is being constructed across the Lower Colorado in Marble Falls, Jamal's a high line grocery store is under construction in Horseshoe Bay, most of the roads in HSB are receiving new concrete curbs, the LCRA has started replacement of the power plant, a new clinic and regional hospital is about to break ground. You never know where the bottom is on any investment, but the data would suggest that real estate in Horseshoe Bay, and particularly waterfront real estate in Horseshoe Bay, because Lake LBJ is one of the largest constant level lakes in the US, worthy of consideration.
TEXAS' EXISTING HOME SALES UP 4 PERCENT
COLLEGE STATION (Real Estate Center) – Sales of existing single-family Texas homes in December were up 4 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
More than 16,500 homes were sold, data showed. The median home price was $150,700, about the same as a year ago, and the state's overall inventory was at six months.
December 2011 MLS data for many Texas cities are available on the Center's website. Here is a sampling (data current as of Jan. 30, 2012):
TEXAS' EXISTING HOME SALES UP 4 PERCENT
COLLEGE STATION (Real Estate Center) – Sales of existing single-family Texas homes in December were up 4 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
More than 16,500 homes were sold, data showed. The median home price was $150,700, about the same as a year ago, and the state's overall inventory was at six months.
December 2011 MLS data for many Texas cities are available on the Center's website. Here is a sampling (data current as of Jan. 30, 2012):
| | Sales | Change from Last Year | Median Price | Change from Last Year | Months' Inventory |
| Austin | 1,738 | up 11% | $188,200 | down 2% | 4.2 |
| Beaumont | 151 | up 2% | $114,000 | down 14% | 11.1 |
| Brownsville | 39 | down 33% | $86,800 | down 22% | 12.4 |
| Dallas | 3,315 | up 3% | $162,800 | up 1% | 4.7 |
| El Paso | 420 | down 9% | $97,900 | down 27% | 7 |
| Fort Worth | 645 | up 5% | $112,500 | down 6% | 5.2 |
| Houston | 5,048 | up 7% | $160,400 | up 2% | 5.9 |
| Midland | 134 | up 17% | $184,000 | down 1% | 3.3 |
| San Antonio | 1,393 | up 3% | $148,400 | down 6% | 6.6 |
| Sherman- Denison | 84 | up 22% | $96,700 | up 3% | 8.8 |
| Temple- Belton | 115 | up 4% | $120,700 | down 13% | 7.9 |
| Tyler | 198 | down 5% | $130,800 | up 1% | 11.4 |
| Victoria | 74 | up 37% | $131,100 | down 2% | 3.8 |
| Waco | 153 | up 2% | $116,200 | down 1% | 9 |
| Wichita Falls | 81 | down 31% | $102,300 | down 9% | 7.6 |
| Texas | 16,505 | up 4% | $150,700 | no change | 6 |
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