Posted on Feb 2, 2012 | Tagged in: news , Houston , economy
A study by the Brookings Institution, a non-profit, non-partisan public policy organization, titled “The Global MetroMonitor” for 2011 reveals the Houston economy to be the fastest growing major metropolitan area in North America.
Houston ranked as the 19th fastest growing city worldwide in 2011. The only other North American city to appear on the top-40 list was Dallas, which ranked at 36.
The report cited not only the obvious booming energy business as a primary reason the Houston regional economy grew at such a strong rate, but also the city’s diverse economy.
The local $311 billion economy benefited from a combination of high oil and gas prices, a strong housing market, and rapid growth in the commodities, manufacturing, trade, and tourism sectors.
Posted on Jan 12, 2012 | Tagged in: Mischer Development , Houston , economy
A report by CyberCoders, the recruiting firm and worldwide leader in tracking employment trends in the high-tech sector, states that Houston lead the country in the growth of technology jobs over the past two years.
Houston posted a remarkable 149% growth in tech jobs over that time. Coming in second place was San Jose, California, the hub of Silicon Valley, with a 100% growth. Philadelphia, Dallas, and San Fransisco rounded out the top five.
"We were very intrigued by the findings, especially the fact that Houston beat San Jose for new technology job growth in 2011,” said Heidi Golledge, CEO and co-founder of CyberCoders of the report. “Houston has always been a city rich in energy jobs, but we are now seeing that the demand for new and clean energy has helped fuel the growth in Houston’s tech sector as well.”
Among the tech jobs that show rapid growth in Houston’s are .NET developers, Sharepoint developers, and process engineers. Furthermore, the city has seen a growth in jobs related to the tech sector including business analysts, administrative assistants and financial analysts. This means that the growth of the tech sector is having a strong impact on the city’s overall economy.
Posted on Dec 15, 2011 | Tagged in: Mischer Development , Houston , economy , business
There is good news for Houston’s economic growth prospects for the new year.
According to the 2012 Employment Forecast produced by the Greater Houston Partnership, new jobs in Houston are expected to surge in the year ahead.
84,600 new jobs are expected in the area over the next 12 months. These will be lead by energy sector employment in exploration, production, distribution, and equipment manufacturing, which are predicted to account for one in seven of all jobs created.
Factors for overall growth cited in the report are energy prices, growth in the domestic economy, and the strengthening of the dollar.
Posted on Sep 28, 2011 | Tagged in: real estate , Houston , homeowners , homebuyers , economy
According to HoustonFacts.org, now is the time to buy. Unlike the booming years where the sellers were the ones in control; today the buyers are calling the shots. All the components are in a buyer’s favor. Homes are competitively priced, interest rates are lower, and sellers are willing to negotiate.
"If my neighbor sold his house for $250,000 six months ago, why should I have to settle for $225,000 today?"
Attempting to regain this loss could cost more in the long run because it’s not so much a loss on the current home as it is a discount on the new, upgraded home. When the market comes back on an upswing, the new home’s value will increase, greater than the value of the original home. Purchasing a home has tax benefits and is usually one of the best financial investments. The national average of appreciation is between 5 to 6 percent, meaning every 13 years the value of a home doubles.
To learn more and to find a neighborhood that's right for you, visit Mischer Investments planned communities.
Posted on Jul 22, 2011 | Tagged in: people , homeowners , economy
The largest generation of young people since the '60s is beginning to come of age. Often referred to as “Generation Y” or “Echo Boomers”, they were born between 1982 and 1995, and are nearly 80 million strong. Making up nearly a third of the U.S. population, they are spending $170 billion a year of their own and their parents' money, according to the Associated Press. Needless to say, Generation Y is already having a huge impact on many different segments of our economy, including the recently strained housing market. But, things are slated to improve.
According to Harvard University researchers, members of this new generation — children of the baby boomers — are ""entering their peak household formation years of 25 to 44 with more than 5 million more members than the baby boomers had in the 1970s,"" Harvard researchers said in a recent report. ""The echo boomers will help keep demand strong for the next 10 years and beyond."" While some of this demand is likely to flow into the rental market, the preferred tax treatment of mortgage loans should help keep the American infatuation with homeownership alive.
It is suggested by experts that over the next ten years, a combination of cash conservation and stiffer lending requirements will ward of another housing bubble, at least over the next few decades.
As a result of these spending habits and financial practices, the recent housing bubble will likely soon burst, allowing for a rebirth of the housing industry and in turn a more stable new home market with slow, but steady, appreciation over the next ten years. All good news!
Posted on Jul 18, 2011 | Tagged in: news , homeowners , homebuyers , economy
Amidst the recent housing bubble, an unpredicted buyer has emerged – Women.
Women, in particular younger women, are finding their most opportune shot at home ownership. In recent years, more men than women lost their jobs by a ratio of almost three to one, in the financial and manufacturing sectors.
Ellen Iggulden, a 27-year-old Chicago-based auditor, says “most of my guy friends are sitting on the buying sidelines. But among my female college pals, (I) was actually one of the last to take the real estate plunge.” Hearing about their successes, she says, was empowering - “If they can do it, so can I!”
And, according to the National Association of Realtors, women now sign on the dotted line in nearly a quarter of all U.S. home deals - up from 14 percent in just 10 years ago. As a result, new home sales teams are incorporating sales tactics including expanded “paint-color psychology” and hosting spa nights, instead of the traditional open house, in an attempt to do everything they can to eliminate the “intimidation factors” associated with females perceived purchase process. Home-marketing consultant Sara Lamia addressed a gathering at the International Builders’ Show by summing up this theory, stating, “If Mama ain’t happy, you’re dead in the water!”
Posted on Jun 24, 2011 | Tagged in: tips , economy
In the words of Home Depot, the home improvement superstore, summer is the time for “More Saving. More Doing.”
There is no better time to get started on money saving home improvement projects than summer. The harshness of the cold, wet winter months has past and with a little elbow grease and smart spending, you home can sprout new life (and even new value) with these home improvement ideas:
Start with a whole home energy audit to check air conditioning units, insulation, air ducts, windows and doors, a service often offered at no cost to you by your local energy provider. If the auditor determines that it is time for a new heating and cooling system, make sure and select one that is approved by ENERGY STAR and promotes energy efficiency.
Select appliances that are both energy efficient and the right size for your needs. Buying an energy-efficient dishwasher, refrigerator, microwave and oven can save you up to 50% on your electric bills according to the Department of Energy (DOE). Also, cut back on hundreds of gallons of wasted water simply by adding aerators to your faucets.
Choose your landscape wisely and crate an aesthetically pleasing and money saving yard. Strategically planted trees and shrubs can add a windbreak and shade, reducing wear and tear and energy costs.
Posted on May 17, 2011 | Tagged in: real estate , homeowners , homebuyers , economy
If you are considering a home improvement, retirement, sending a child off to college, or any other unexpected expenses, you may want to consider a home equity loan.
A home equity loan is basically borrowing against the equity you’ve already paid into your home. Generally a borrower can request a loan in any amount up to 80 percent of their equity. Just like your existing mortgage, you will incur a fixed or variable interest rate, and in some cases, fees and closing costs.
The Pros of a Home Equity Loan
Home equity loan interest is tax deductible up to $100,000 and often the money can be borrowed at a lower interest than conventional loans or credit cards. Also, if you have tremendous card debt AND the interest on a home equity loan is less than what the credit cards are charging AND you have exhausted all efforts to negotiate a lower rate with them, then you may want to consider using your home equity to pay it off.
The Cons of a Home Equity Loan
Posted on Feb 28, 2011 | Tagged in: economy
According to the Real Estate Center in College Station, the Texas economy is continuing to outperform the U.S. economy in the current recovery.
Texas' economy has gained 194,400 jobs between November 2009 and November 2010, an annual growth rate of almost 2 percent.
Over the same 12-month period, the U.S. economy gained 842,000 jobs, an annual growth rate of less than 1 percent. Texas' private sector continues to play a key role in creating new jobs, according to the December 2010 Real Estate Center’s Monthly Review of the Texas Economy.
“The state's private sector posted an annual employment growth rate of 2.2 percent compared with 1 percent for the U.S. private sector from November 2009 to November 2010,” said the report’s authors, Research Economist Dr. Ali Anari and Chief Economist Dr. Mark Dotzour.
Texas residents can be thankful again for the prosperous status of the Lone Star State!
Posted on Jan 24, 2011 | Tagged in: real estate , homebuyers , economy
Freddie Mac (OTC: FMCC) has released the results of their Primary Mortgage Market Survey (PMMS). The survey outcome shows mixed results for both long- and short-term rates, with 30-year rates increasing slightly and the 15-year rates decreasing just as a modestly. The full details of the findings are as follows:
30-year fixed-rate mortgages (FRM) averaged 4.74 percent with an average 0.8 point for the week ending January 20, 2011, up from last week when it averaged 4.71 percent. Last year at this time, the 30-year FRM averaged 4.99 percent.
15-year FRM this week averaged 4.05 percent with an average 0.8 point, down from last week when it averaged 4.08 percent. A year ago at this time, the 15-year FRM averaged 4.40 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.69 percent this week, with an average 0.7 point, down from last week when it averaged 3.72 percent. A year ago, the 5-year ARM averaged 4.27 percent.
1-year Treasury-indexed ARM averaged 3.25 percent this week with an average 0.6 point, up from last week when it averaged 3.23 percent. At this time last year, the 1-year ARM averaged 4.32 percent.
