Sep 25, 2009

Download a New Brochure for the Luxury Townhomes at Lexington Park at Rice Field in Downtown Plano


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Sep 24, 2009

Texas Housing Markets Forecast Nation’s Most Stable

CARY, NC (Local Market Monitor) – Five large Texas cities and ten smaller ones are among the nation's top markets when it comes to expected home price performance, according to Local Market Monitor’s latest Home Price Forecast.

Among the largest markets — those with populations exceeding 600,000 — Dallas|Plano|Irving, Fort Worth|Arlington, Houston|Sugar Land|Baytown, San Antonio and Wichita Falls filled five spaces on the ten-slot list of cities with the best expected performance in home price over the next year.

The same survey of the smallest US markets revealed ten Texas cities were tops, tied with other cities across the country. These were Abilene, Amarillo, Brownsville-Harlingen, College Station–Bryan, Corpus Christi, Killeen–Temple–Fort Hood, Laredo, Lubbock, Texarkana and Waco.

The study predicts local market behavior over the upcoming 12 months in over 300 markets, identifying those that are stable and have opportunity for growth.


Texas To Lead Economic Recovery

SAN ANTONIO (San Antonio Business Journal) – The four major Texas metros will be among the first in the nation to recover from the recession, according to a nationwide forecast by IHS Global Insight.

San Antonio and Austin will lead the way, bouncing back to their prerecession job levels sometime next year, predicts the Lexington, Mass.–based economic forecasting firm.

Houston and Dallas–Fort Worth are among eight other metropolitan areas predicted to recover by 2011.


Sep 16, 2009

Economy and Housing Prices in Texas Rank Highest

Texas cities and metropolitan areas boast the strongest economies in the United States, according to a just-released analysis by the Brookings Institution.

In a second-quarter comparison which analyzed the economies of 100 US cities, Austin Texas ranked first, Dallas–Fort Worth ranked fourth and El Paso sixth.

Houston's economy, ranked ninth in the comparison, but ranked first among cities with the biggest increases in home prices. In Houston, home prices jumped 4.9 percent over the last year.

In ranking cities with the strongest home prices, third-ranked DFW had a 3.8 percent increase in home prices, while tenth-ranked San Antonio had a 3.1 percent increase.


Sep 3, 2009

DFW airport OKs $1.5B facelift program

lexingtonlogo-iphone Dallas/Fort Worth International Airport reported Thursday that its board approved the first major expenditure tied to a $1.5 billion-plus terminal development program that will renovate Terminals A, B, C and E at the airport.

The terminals, which opened with the airport in 1974, are slated to be part of a project that D/FW considers an important mechanism in keeping the airport top-tier in terms of service and technology.

The board approved a $20.75 million package for preliminary design work on the terminals’ renovation. URS Corp will handle the design.

The entire project is expected to cost between $1.5 billion and $2 billion, with D/FW expecting to pay for the renovations through bond sales, available capital and other sources.

The project will include makeovers of passenger areas and the replacement of electrical, plumbing and heating and cooling systems, as well as telecommunications upgrades.

“While they have served us very well, our four original terminals are 35 years old now, and their internal systems need replacement,” said Jeff Fegan, CEO for the airport. “The renovation of these terminals is critical for the airport's long-term outlook, because this project will keep D/FW highly attractive to customers and cost-effective for airlines well into the 21st century.”

Construction is expected to begin as early as 2011 right after Super Bowl XLV, which will take place in Arlington. Terminal A will be completed in 2014, D/FW said, with the entire project slated for a 2017 end date.


Dallas Mayor Considering Senate Run

Dallas Mayor Tom Leppert did not rule out a run fur the US Senate seat being vacated by Kay Bailey Hutchison, when asked about it at a commercial real estate function Thursday.

"I'm just trying to get through the week," Leppert said, when asked whether he plans to seek the seat.

He again declined to rule out a bid when the Dallas Business Journal asked him about the possibility after the function, saying only that he "feels good about what the city has accomplished."

Leppert, speaking to commercial investment association CCIM, said he expects a wave of corporate relocations to Dallas, as companies consider ways to cut costs in the post-recessionary environment.

"During a recession, everyone is hunkering down, so usually relocation is the last thing you look for," he said. "We're going out and selling Dallas by saying part of the restructuring of companies is bringing costs down," and Dallas' low-tax, pro business environment can help companies achieve the savings they are looking for.
"When we see a recovery, I think Dallas will be very well positioned," he added.

Leppert counted a reduction in crime and implementation of green construction standards among his successes in his first two years in office. The mandatory green building requirements, he said, "position Dallas as a leader" on environmental issues and is important to fight the perception that the city is behind the curve in that area.

The mayor vowed to not raise the tax rate. "When you've got that stable tax rate, it sends the message that this is where we want business to be," he said.

Leppert also said the upcoming construction of a deck park over Woodall Rodgers Freeway will be a big step for the city: "The best part is the strategic hole that it fills, connecting downtown Dallas with Uptown and the Arts District."

Although we don’t know who the rest of the field of candidates may be, Leppert is certainly not a bad candidate…and his candidacy or election would likely be good for Dallas and the Metroplex.

Sep 1, 2009

Housing Market Update | Plano Texas

Isolated reports, from around the country and even from Western Europe, are beginning to filter in which suggest that the worst of the housing market is behind us and that it has, in fact, begun the process of recovery.  It is unlikely that the mainstream media will report good news, such as this, as it isn’t in their nature.  While the nationwide housing market is certainly important, of significantly more import are conditions of the local housing market. 
The below charts, compliments of Altos Research LLC, present data about the local – Plano Texas – housing market.  As is easily noted, the market in Plano is substantially improving.  The charts are updated regularly.

 Real Estate Market Chart by Altos Research

  Real Estate Market Chart by Altos Research

Real Estate Market Chart by Altos Research



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