Develop Austin Texas

Austin gained 11,400 jobs over the last 12 months for a 1.5% growth rate

admin — Mon, 04 Apr 2011 15:08:45 +0000

New numbers just released by the Austin Chamber of Commerce show that Austin has gained 11,400 jobs over the past 12 months for a 1.5% growth rate. This ranks Austin 15th in the nation as far as growth rate – down from December when the Brookings Institute had Austin at #1 for job growth. While this may sound disappointing to some, Austin is experiencing growth while other cities are still losing jobs. Austin is ranked 1^st in terms of having lost the least number of jobs from our peak employment month of November 2008. Other markets have lost many more jobs so they have a much longer way to go to get back to their peak – we only need to gain 16,700 jobs to be back to our November 2008 peak.

Another big indicator, the unemployment rate, shows Austin has the lowest unemployment rate in the state of Texas and the 3rd lowest in the entire nation. Follow this link to see more data from the recent Austin Chamber of Commerce Report.

Price Reduction! 315 acres of Lake Travis waterfront

admin — Tue, 15 Mar 2011 15:15:00 +0000

Located in the Lago Vista peninsula, these 315 acres feature Lake Travis waterfront, lake views and cleared fields with frontage on 2 paved county maintained roads with a hard corner. There is about 3,000 ft. of very deep cove frontage on Lake Travis – the cove is about 70 ft. deep from the 680 ft. shoreline. The land gently slopes to the waterfront making it very accessible along most of the shoreline. The land is mostly cleared of cedars and junk brush to reveal nice vistas and fields of native grasses. It’s currently ag exempt keeping holding costs low.

Known as The Falls, this land is fully entitled and platted for development through the City of Lago Vista. The 520 lot plan includes large waterfront tracts, condo units, marina plan and production builder lots. Water and wastewater are available though the City of Lago Vista but must be brought onto the property. Commercial potential with excellent road frontage on both Lohman Ford Rd. and Sylvester Ford Rd. with a hard corner at the intersection.

This property is appraised at over $8,800,000. We recently reduced the asking price to $6,500,000 or $20,635 per acre. Other developments in the area are priced at $30,000+ per acre. Visit our web site for more information about this property.

Spanish Oaks Going to Auction

admin — Sat, 17 Jul 2010 18:41:24 +0000

The 900 acre development of Spanish Oaks is going up for auction on Aug. 03. Located in the scenic hills west of Austin, this community features a golf course winding through the 436 home sites. The project is owned by three separate entities, Hillwood Development Company, Discovery Land Co. and CCNG Realty Inc. According to the Austin Business Journal, after failing to settle the $32 Million loan, Comerica Bank has foreclosed on the property and will be auctioning it off on August 03.

The recession has caused the luxury home market in Austin to really take a tumble and this foreclosure is a direct result of the lack of demand in high end custom homes and home sites.

Austin Commercial Real Estate Stabilizing

admin — Thu, 08 Jul 2010 20:56:58 +0000

According to the Austin Business Journal, the commercial real estate market seems to be stabilizing. The retail and office markets seem to be doing well but industrial vacancy rates remain dismal.

The second quarter saw vacancy rates in office space decrease for the first time since 2007 due to the fact that new construction in office space has slowed significantly and the market is catching up. The biggest mover is the downtown Austin Central Business District where rates have been falling steadily since the 4th quarter of 2009. New plans for high density developments are in the works.

Occupancy rates for retail buildings has also increased to just under 92% making the Austin area the only Texas metro area to show an increase in the first 6 months of 2010. Minimal amounts of new construction will see those occupancy rates increase even more over the next few months.

Meanwhile, industrial vacancy rates are at a high not seen since the big crash of the late 1980s. The citywide vacancy rates increased from 22% at the end of 2009 to the present rate of 24%. However, experts are predicting this to slow down soon as there are several large leases pending.

Overall area brokers are reporting an increase in the volume of deals getting done in the marketplace. This has lead to an increase in optimism and an sense that things are turning around.

Austin Area Home Starts Up 11%

admin — Mon, 05 Jul 2010 15:52:06 +0000

The Austin-American Statesman reported last Thursday that new home starts in the Austin area were up 11% in the second quarter of this year. The new home starts were mostly in the $200,000-$400,000 dollar range, with many people taking advantage of the recently expired tax credit. According to Residential Strategies, the median price of a new home increased 3 percent to $203,476 in the second quarter but that’s still off 4.3% from the same quarter last year.

The Austin market has remained one of the strongest real estate markets in the country. We have not seen the big dips in prices that other markets across the country have seen. This can be attributed to restraint by area builders who did not create an oversupply of housing and to our strong local economy which is still creating jobs. Just recently Samsung announced they were investing $3.6 billion to expand its semiconductor business here.

Although it’s going to be a slow recovery, it’s good to see that signs are definitely pointing in the right direction.

What’s all the Hoopla about Austin’s AquaPalooza?

admin — Fri, 02 Jul 2010 14:16:48 +0000

Free fun for family and friends at The World’s Largest Boating Event in over 100 waterways presented by Sea Ray Boats.

Get your aqua funk on tomorrow Friday, July 9 when AquaPalooza week kicks into high gear with a wave of water activities taking place on Lake Travis near Austin, Texas.

The day starts early when the water grid opens at 7 a.m. to boaters for an organized boating event with 2,000 spots available on a first-come, first-served basis.

From noon to 2 p.m., the Battle of the Bands competition rocks the airwaves when local band compete for an opening act spot at the Signature event on Saturday, July 10. Later in the day, from 2-7:30, favorite local bands stay dry while playing on land for boaters and land lovers alike.

On Saturday, the Signature AquaPalooza event ramps up at The Reserve at Calcasieu Point, mile marker 22 on Lake Travis near Austin, Texas. At noon, music rocks the main stage with performers Jerrod Niemann, Matt Stillwell, Joanna Smith, Lee Brice, and the Battle of the Bands winner playing until 5 p.m. when headliner Brad Paisley takes the stage.

Then on Sunday, July 4, families will thrill to fireworks display bursting in the skies over Texas’s beaches, parks, and rivers, an exhilarating colorful celebration.

Don’t miss the next several fun-filled days and nights ahead.

Check the insert at the AquaPalooza website for more information on all scheduled events occurring throughout the week.

Waterfront Acreage on Lake Travis

admin — Mon, 14 Jun 2010 14:43:59 +0000

177 Main Body Lake Travis Waterfront Acres Located Across from the Confluence of Lake Travis and the Pedernales River. Very Accessible Main Body Waterfront. Additional Acres Available.

177 acres located in a gated community off Singleton Bend Road

4,000 ft. of main body Lake Travis waterfront just across from the confluence of Lake Travis and the Pedernales River

Land is cleaned and cleared of most brush

Gorgeous waterfront and Lake Travis views

Cleared land reveals big mature trees including hundreds of post oaks throughout

Good elevations provide for many different build sites

Recent all weather roads throughout property

2 wells and electricity on property

Water and telephone available to property

Located off Singleton Bend Rd. – 10 minutes to Lago Vista, 45 minutes to downtown Austin

Additional Acreage Available

Find Out More About This Property By Clicking Here

Bond 77; Alternative Down Payment Funding

admin — Wed, 19 May 2010 22:09:53 +0000

Just when it seemed that making use of the First Time Home Buyer Credit was completely gone, Texas introduces the new Texas Department of Housing & Community Affairs (TDHCA) Bond 77 Program. The Bond 77 program is a new Zero Down Home Loan that will assist home buyers with their down payment towards the purchase of a home. It is said that the state of Texas has backed this program with $500 million dollars in funding and should be releasing the program in late May. With this kind of allotment of funds available for the program and an alternative option for down payment, it’s sure to become a popularly sought out program by both first time buyers and existing home owners looking to purchase a home.

There are some Bond 77 details that might be of interest to anyone looking to make use of this program. It should be noted that the interest rate on the loan will be locked for thirty years. All fees will be strictly restricted (this is a good thing for all borrowers). For those looking to gain assistance with a down payment, Bond 77 will provide borrowers with 5% towards the down payment and closing costs. As long as the borrower remains in the purchased home as a primary residence, the borrowers may enjoy not having to worry any form of payments towards the amount assisted with. Availability of this program depends on the number of individuals in the household and on area of the first time home buyers or existing home owners looking to purchase.

The Bond 77 program will not run indefinitely. Funds will be appropriated effectively on a first come first serve basis. As soon as the funds are depleted, the program will cease to exist and terminate.

If you’d like more information regarding Bond 77 or have any questions in regards to Bond 77 or hill country property, visit our website at http://www.dmtx.com. You may also get more information from the Texas Department of Housing and Community Affairs here.

48+ Acres in Southwest Austin Close to Downtown

admin — Thu, 06 May 2010 14:40:38 +0000

Creek on 48+ acres in Southwest Austin

We just listed this gated, wooded 48+ acre estate tract with intermittent creek and deep pond. Land currently features a 4,000 sq. ft. home and barn. There is the possibility of subdividing this property into 2+ acre tracts for development.

The 48 acres are gated with frontage on 3 county maintained roads, city water line, well, electricity on property. This rare tract is located just off Hwy. 290, only 20 minutes to downtown Austin. Find out more about it here.

Creative Real Estate Marketing Specialist Needed

admin — Tue, 20 Apr 2010 15:20:55 +0000

Business is booming and we need some help! We are looking for a sharp, witty marketing person who can handle marketing our listings and who is on top of new and emerging technologies – especially as they relate to the real estate business.

Who We’d Like to Meet:

You have experience in the real estate business and have a real estate license or a getting a real estate license

You are highly proficient in all Microsoft Office products

You have enviable Photoshop/Creative Suite skills

You love to blog and are very familiar with blogware such as Wordpress – you want to show us your very successful blog

Familiarity with tracking and compiling web site data

When you’re not working (or sometimes when you are), you’re networking on Facebook, Twitter and that newest site that no one’s discovered – yet

You listen well and don’t want to be told what to do over and over again

Your friends and family envy your organizational skills

You like to take the ball and run but don’t mind a little direction along the way

You have a reliable form of transportation

Please submit resume and cover letter by clicking on this link!

Thanks,

The Dave Murray Team