The biggest category for growth is expected to be in residential housing. Single family housing starts will increase by 31%, and multifamily by 34%. Nonresidential housing construction is expected to slip 1%, but public works and utilities should increase by 21%, boosted by federal stimulus funding.

For more than 100 years, McGraw-Hill “has compiled project and product information, plans and specifications and industry news and forecasts” to make their predictions.

Now is a great time to invest in development land in Austin and central Texas.

Pictured: The Falls – 315 Acres on Lake Travis

“East Seventh is considered a gateway to our airport, if not the gateway,” said developer Perry Lorenz. “If you think of it as a gateway for first-time visitors, ‘sad’ is what comes to mind.”

Developers and businesses are already interested in the renovation in the area. Project managers from the two Austin firms who won the project (Capital Excavation and Cash Construction) say to expect the difference to be “like day and night,” with cracked pavement replaced by brick layers, and palm trees lining the streets.

The land is cleared of cedars and brush, with no zoning and no restrictions. Just minutes to Lohmans and 1431, this area is surrounded by development. Additional land available.

See the listing here.

One other city in Texas, Houston, appeared on the list, in the sixth spot.

Says Bob Bach, Grubb and Ellis Senior Vice President and Chief Economist: “The good news is that the freefall we saw in 2009 is over and the future is more certain, giving owners and users of real estate the confidence to begin making decisions again.”

Grubb and Ellis Co. is a real estate and investment services firm out of Santa Ana, California.  You can view their entire 2010 Forecast for the whole US or your local area. Now is the time to look at the commercial real estate opportunities Austin has to offer.

The Falls: 315 Acres on Lake Travis

This stunning piece of property features Lake Travis waterfront and views, with cleared fields and mature trees.

This property includes frontage on two paved, maintained county roads with a hard corner. The land gently slopes to the approx. 3700 feet of waterfront on deep Bee Hollow Cove on the Lake. Many waterfront and lake view build sites sit on the property, that is surrounded by high-end waterfront homes and ranches.

Lake View

Located in the Lago Vista, water and sewer will be provided by the city. Lago Vista ISD is an exceptional school district, with Lago Vista High School rated as one of the top ten high schools in Central Texas (Austin Monthly). With the completion of the 183A Tollway, this area will not just be attractive to second home buyers from around Texas, but for primary residences as well.

This location would make an excellent personal ranch or land investment. Take your chance to see the listing today.

305 acre ranch featuring over 3,500 ft. on crystal clear Double Horn Creek and a deep pool perfect for swimming and fishing. 20 mile panoramic views of surrounding Hill Country from hilltop.

These 305 well maintained acres sit on beautiful, spring-fed, rock bottomed, year-round Double Horn Creek – with about 2400 feet on each side of the creek, and 1200 feet to the center of the creek. A waterfall spills into the very deep pool, perfect for water recreation. About 300 feet of Gridiron Creek spills into Double Horn Creek. A good road at the entry leads to a dam on the creek.

A big hilltop gives 20 miles of views of the surrounding hill country. A 25-30 acre cleared pasture is perfect for cattle grazing or a pecan orchard. The ranch is filled with mature trees: pecans, oaks, elms, sycamores, ash and more.

Borders large acreage properties including LCRA parkland. Ag exempt, taxes were $489 last year. Frontage on CR 404 and CR 402 – both are paved public roads. Electricity, telephone, septic and well on property. 15 minutes to Marble Falls, 25 minutes to the Hill Country Galleria.

See the listing or virtual tour for more information and pictures.

Photo taken at: Bella Tesoro

Sandy Ranch

CNN Money’s article “What Housing Bust?” covers what areas of the nation have done well in the housing market, and why. According to writer Les Christie, areas with plenty of available developable land have smaller swings between home price highs and lows. This is because, when the demand for housing spikes, home builders are able to build more homes and keep the housing prices in check. Speed is also of the essence here, home builders need to be able to build quickly, thus, the need for available land.

“Elasticity of supply,” this is called, according to Mark Fleming, chief economist for First American CoreLogic. And Christie says, it is the definition of Texas real estate, and similar throughout all the metro areas.

“Texas is the poster child for these ‘steady Eddie’ states. House prices during the past three years rose in all 26 metro areas with gains ranging from 2.8% for Dallas, the second largest metro area, to 9.7% in Houston, the largest, to a whopping 32.5% in Odessa.”

This is part of what is causing the metro areas in Texas, including Austin, to grow so rapidly. Landowners in the Austin area should continue to see their investments in high demand for buyers and developers.

Proposition 11, which limits the government’s power to eminent domain, was hugely popular and passed by an 80-20 margin. “The amendment bans governments in Texas from seizing private property and giving it to a private developer to boost the tax base,” reports KXAN News.

Over 43,500 residents voted in Travis County.

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November 3^rd’s ballot in the State of Texas won’t have the same hot button races as a presidential election year, but the propositions on it will directly affect Texas homeowners and their money, right now and in the immediate future. The language can be tricky and there is misleading information floating around from misinterpretation, but it is important to understand the proposed amendments and vote.

Gabriel Lopez wrote a great column translating the amendments into simpler terms. The Houston Chronicle also offered an interpretation. There are a few amendments in question, namely, Propositions 2, 3, and 5.

Proposition 2

As it will appear on the ballot: “The constitutional amendment authorizing the legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property’s value as a residence homestead.”

What it means: We’ve talked about the increases in appraisal rates in the state. Currently, “the central appraisers are using a practice called ‘highest and best use,’ which allows a property to be valued on potential use rather than current use,” Lopez writes. In other words, if this amendment passes, if an area is experiencing rapid commercialization, the land can’t be valued for the potential value – it will mandate “that a residence be valued only as a residence, regardless of what the ‘highest and best use’ is.”

“This amendment is intended to protect less affluent homeowners from situations in which rapid commercialization in their area threatens to drive up property taxes unreasonably year after year,” writes the Chronicle. “…such development can occur quickly and with potentially difficult consequences for homeowners. The measure would be strictly limited to residences qualifying for the home-owners exemption, thus eliminating the potential for use by speculators.”

Proposition 3

As it will appear on the ballot: “The constitutional amendment providing for uniform standards and procedures for the appraisal of property for ad valorem purposes.”

What it means: This amendment is another reaction to the state appraisal policies leading to inflated rates recently. It would require uniformity in appraisal processes statewide, allowing the state to have oversight and enforcement over every district. “This is important because state funding for public schools is based on the taxable property in each school district,” says Lopez.

Writes the Chronicle: “Unfortunately, the proposition has been plagued by Internet rumors that it is a back-door method to introduce a statewide property tax. It is no such thing, assures state Sen. Tommy Williams, R-The Woodlands, an author of the amendment. Williams says it is simply a means to achieve uniformity of appraising methods in the interests of more equitable appraisals in all areas.”

Proposition 5

As it will appear on the ballot: The constitutional amendment authorizing the legislature to establish a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations.

What it means: The board of equalization would hear appeals from homeowners regarding their home’s appraisal value. It can be difficult to find qualified individuals for these boards in rural and less populated counties; this amendment would assist them. “It is written to be ‘permissive,’ which means a larger entity cannot force a smaller one to participate without its consent,” says the Chronicle.

Along with the Houston Chronicle, The Texas Board of Realtors endorses “yes” votes for propositions 2, 3, and 5. A quick, concise flyer is available here.

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