Mischer News

Forbes.com gathered economic experts Christopher Hyzy of U.S. Trust, Bernie McSherry of Cuttone & Co., and Carol Pepper of Pepper International in late December to discuss the prospective Housing Market in 2010. The three offered blunt yet hopeful future-telling, including special encouragement to young families seeking homes.

Pepper noted that she sees those in the higher end of the market waiting and expecting a market recovery, while those in distressed markets are in fact buying. McSherry stated, "the winners right now are young folks out there, young people ow are starting families," citing a 4.75% mortgage rate that morning and then comparing it to a 17% mortgage rate when he was "getting started" in his life. "Not only are prices low, but financing is available. So I think people have got to get out there and take advantage of that."

Hyzy offered that the residential market is slightly ahead of the game (over commercial property), despite taking the most pain.

To sum, the group theorized that there will be definite changes in patterns of buying and selling due to caution, but this caution is a positive, and the overall motion of the market - especially in residential property, is on the up-and-up.

Source: Forbes.com http://www.forbes.com/2009/12/29/commercial-real-estate-intelligent-investing-housing.html

The Houston Ballet is celebrating its 40th Anniversary during the 2009-2010 Season and this Holiday it features Ben Stevenson’s breathtaking production of The Nutcracker - “the crown jewel of holiday entertainment” according to The Houston Chronicle. The Holiday classic, with music by Tchaikovsky, is set in 19th century Germany and opens at a family Christmas party where a little girl named Clara receives a Nutcracker from the mysterious Dr. Drosselmeyer.

As the magic unfolds Clara and the children play with wind-up dolls and watch Dr. Drosselmeyer’s magic tricks in amazement. They watch in awe until the party draws to an end and the children go to bed, only for Clara’s real adventures to begin. People of all ages will enjoy watching this classic Christmas story, and their eyes will dance with the ballet as the nutcracker transforms into a handsome prince and Clara’s house becomes a land of snow before they sail across a lemonade sea.

The Nutcracker, by The Houston Ballet Company, continues to enchant audiences with its lively music and magical story performed by the best ballet dancers in Texas. The talented performers will be joined by Chinese star Chi Cao, who performs the title role in the film Mao’s Last Dancer, as he makes a guest appearance as the Prince during the matinee performances on December 22 and 23. The dancers will perform among the glorious scenery and in the magnificent costumes designed by Tony Award-winning designer Desmond Heeley.

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Vintage Park is giving Santa Claus a place to hang is hat for the holidays.

The Park is hosting photos with Santa and complimentary carriage rides on Saturdays from noon until 4 p.m.

"Photos with Santa are being taken in a portrait sitting," said Melissa Goedde, Director of Retail Management, withThe Interfin Companies. "In addition to receiving their photos on site, families have the option to view all images from their session online and order reprints, additional sizes or even holiday cards."

Photos with Santa are taking place at the main entrance of the shopping center, across from Signature Home Theater.

"Response to the Santa photos and carriage rides has been wonderful," Goedde said. "Over 200 families have visited Santa at Vintage Park this year, and both children and parents have enjoyed the more personal Santa photo experience, without the hours of long waiting found in typical mall settings."

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The numbers were presented Dec. 14 at a GHP-sponsored event at the Intercontinental Hotel featuring a panel of economic experts.

Demand for chemicals and plastics products used in construction and manufacturing will drive growth in 2010, the report said. An upturn in Asian economies is expected to bring growth to the city's wholesale trade sector, which will add 5,200 jobs.

Other sectors expected to see a net gain in jobs are health care (2 percent gain); food services (0.5 percent) and administrative and support services, which is expected to pick up 5,400 jobs. Largely driven by gains in the public education sector, the public sector will add an additional 4,100 jobs.

Not all areas will see a recovery, however.

The report said that construction is expected to continue to lag behind other sectors. Strict lending standards has meant that ground-breaking on new commercial projects has all but halted. Job losses in construction are expected to continue at an annual rate of around 3.1 percent.

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The Houston area has weathered the storm of the recession well, staying afloat by having a thriving building and housing market that can create supply to meet demand, and by diversifying industries. But the area still felt the recession and is glad, along with the rest of the country that it may be at its end as many economists and government representatives have posited. While there is no official declaration yet that the recession is over, the country looks forward in hope to improvement in our lives and financial situations.

As the future approaches and the financial winter turns to a vital spring renewal, it is good to take note of ways we can stay afloat in the future - how we can manage our money is post-recession season. Here are some suggestions to help individuals and families as we move forward:

Be a Smarter Consumer
As Dave Ramsey would say, "Act Your Wage" - this means spending only the money you have to spend. During the recession many consumers found themselves facing foreclosure and carrying more debt than they could handle because they signed themselves up to spend more money than they actually had. If you are careful to watch your spending and control your expenses you will do well. Don't go back to old spending habits of buying what you can't afford by using credit or loans. Experts aren't saying to get rid of your credit cards completely, but a good rule to live by is to only purchase on a credit card if you can pay it off in full each time the bill arrives.

Beginning these new habits will help you to avoid problems the next time the economy faces a tough time.

Prepare for Emergency Situations
It is a way of life that sometimes the unexpected happens; our car breaks down, a storm blows through and tears up our house, or a family member gets sick and needs medical care, or someone in the family becomes unemployed as we've seen so clearly during the recession. But we don't have to face these situations completely unprepared. More and more Americans are putting money into savings to prepare for emergencies and to have a cushion. They are no longer spending all of their monthly income, but are putting some away for that "rainy day."

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A significant consideration for parents in any region arises when it's time to send the kids off to college or a university. With the economic situation as it is and more and more people concerned about commutes and efficiency, parents and students are opting for local schools, something of which Houston has plenty to offer.

There is an abundance of local, highly rated universities, colleges and academic certifications and programs.

University of Houston (link: www.uh.edu)

-Percent of applicants admitted: 79%
-Student to faculty ratio: 22 to 1
-SAT range: 920-1170
-109 majors and minors
-128 master's
-50 doctoral
-Best Entrepreneurship Program in the nation
-UH Law Center is one of the top 100 law schools in the country
-Third in the nation for Health Law
-In the top ten for Intellectual Property Law
-Offers the Space Architecture graduate program, the only program of its kind in the world
-The most diverse university in the nation


Houston Baptist University (link: www.hbu.edu)

-Over 2,500 students
-Student to faculty ratio: 13:1
-Over 79% of full-time professors hold terminal degrees


Houston Community College (www.hccs.edu)

-Regions covered: Central, Coleman, Northeast, Northwest, Southeast, Southwest, and Distance Education
-Tons of inexpensive, transferable courses


University of St. Thomas (www.stthom.edu)

-3,234 total enrollment
-An Hispanic serving institution
-Student to Faculty ratio:  11:1
-67% student population is Catholic
-92% of faculty hold a terminal degree
-1138 average SAT score
-31 undergraduate and 10 graduate degree programs
-65 student organizations
-Tuition: $717 per credit hour undergraduate; $802 per credit hour graduate


Rice University (www.rice.edu)

-Copywritten material may be viewed at http://www.professor.rice.edu/professor/Students4.asp?SnID=25694481


Texas Southern University (www.tsu.edu)

-80+ student organizations
-Over 9,500 students
-9 schools and colleges
-Thurgood Marshall Law School named the most diverse law school in the nation three consecutive years in a row
-College of Pharmacy and Health Sciences has historically produced over 27% of all African American pharmacists in the nation.
-The majority of African-American teachers in HISD and African-American lawyers in Houston are Texas Southern graduates

To most passer-byers the Vintage Park is an upscale retail center, but what lies beneath the Mediterranean-styled architecture and well-manicured landscaping is more than stores and restaurants.

In 2004 Walter Mischer Sr. persuaded Vincent Kickerillo to join forces in a real estate deal that would change Northwest Houston with the purchase of a 630-acre tract of land at Louetta Road and Highway 249.

For more of this story, click on or type the URL below:

http://www.hcnonline.com/articles/2009/12/01/spring_observer/news/49sovi ntagetourwv.txt

As the future rolls in and a new year approaches area residents can look forward to some new projects making their way into town. These projects include a commuter rail from Houston to Galveston, a levee protection system along the gulf coast, a desalination plant, a Grand Parkway and some road projects in Friendswood. While the levee project and the desalination plant are in the beginning study stages, the other projects are moving along. "Commuter rail, Ike Dike, desalination plants, those projects, their time may be arriving," Galveston County Judge Jim Yarbrough said recently in a speech to the Friendswood Chamber of Commerce.

Commuter Rail:
The city has joined the Gulf Coast Rail District and is looking at the two possible rail options in the area to develop a commuter rail. Yarbrough shared, “the rails are cooperating because they want to work to use those lines better.” The Metropolitan Transit Authority, Harris County and Fort Bend County have also joined in pursuing a commuter rail."All the counties involved want it to happen," Yarbrough said. "Everybody wants this to happen and there's money there to make it happen. We've just got to figure out the logistics.“

Earlier this year Galveston Mayor Lyda Ann Thomas and City Manager Steve LeBlanc travelled to Washington D.C. to secure federal money for the project. They shared how the rail would be cheaper than expanding I-45, and would connect Galveston to League City and League City to Houston in two legs. Galveston is now backed with federal funds to study the project under Federal Transit Administration Guidelines. "This project has a lot of merit, a lot of possibility, and we're working on it," Yarbrough said. "I think someday down the road it will happen."

Grand Parkway:
The Grand Parkway, or State Highway 99, will be a 185 mile highway around greater Houston and will be funded with toll receipts. Again Yarbrough was hopeful, "I think the Grand Parkway is coming," he said. "We are negotiating with the property owner right now for purchase of right of way in Galveston County. We're behind the segments that connect some of the other parts of the Grand Parkway, but we are beginning to look at right of way and beginning to move in that direction." The move will be to build this highway as another option for evacuation and to lesson truck traffic on existing highways.

IKE DIKE Levee Protection System:
"We're looking at a levee protection system that will stretch from the Louisiana-Texas coast down through Brazoria County," Yarbrough said. The city has joined a local government organization comprised of Galveston , Orange, Jefferson, Chambers, Brazoria and Harris Counties, to look at the possibilities and options for a levee protection system.

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The Piazza is the landscaped middle part of the Vintage Park shopping center. Retail analysts say opportunities for local independent retailers to snare prime locations are excellent now.

In early 2007, Rob Sherer approached Market Street in The Woodlands to see about launching in the center his comfort footwear concept, All About Feet. 

There wasn't much interest, Sherer says, so he opened his first store in the Vintage Park shopping center in northwest Houston.

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Texans on the whole are more optimistic about their financial future than the majority of Americans, this is according to a new survey by Citi released on November 12. The survey, which polled 500 Texas adults between September 12-15, showed that approximately 38% of Texans rated their economies as excellent or good, and 72% of Texans feel their financial situations will improve in the next year compared with 65% of Americans. For local business conditions, 67% of Texans believe they will become much or somewhat better over the next year, compared with 57% across the nation. 

Still, Texans are exercising caution in their expenses, with 38% taking money out of savings and other investments to meet expenses, and 34% of citizens working longer hours to “make ends meet.” About 57% of those surveyed indicated they are waiting on those major purchases such as new cars, until things turn around. “Such cautiousness indicates the recovery could be prolonged,” said Kathleen Gibson, president of Citi Commercial Banking’s Central Division.

But there are signs and reasons to hope, especially looking at the housing market where a third drop in foreclosures may hint at recovery. The survey showed that 82% of Texans expect home values to go up or stay the same over the next year, a belief that reflects the fact that foreclosure rates are down by 3% from September. “We have not had the boom-and-bust issues a lot of markets have had,” Gibson shared.

While residents are waiting for things to turn around, their positive and ‘go-get-em’ attitudes will keep Texans at the top of their game, and they’ll be ready when things do turn around.