Texas Realty Blog

Modern Prefab Homes Provide Green Alternative

As you know, Texas construction has slowed this summer due to unseasonal rains. We're happy to report that the Texas heat is back, but we're only experiencing a mild scorch.

Our team has been researching modern prefab homes, which have been catching on as a green alternative to standard construction techniques. They're considered green because they're sustainable, utilize energy-saving materials, and construction sites often create less waste. 

The Building Systems Council states that "Systems-built housing - homes that are preconstructed or prefabricated in a factory or mill before being transported to the home site to be completed". Many large builders prefabricate at least some portion of the home, typically the trusses for the roof since they can take a very long time and mistakes can occur on site.

TRUTH ABOUT PREFABRICATED HOMES

Myth: Modular and pre-fabricated construction are the same as a manufactured or mobile home. Truth: A manufactured home is the same as a mobile home, but is pinned down. Prefabricated construction types can be concrete, log, modular or panelized.

Myth: Prefabricated homes are limited in design and boxy. Truth: There are different types of prefabricated homes. Modular construction has some size and design limitations, but architects are getting creative. Panelized systems, concrete and log can be as flexible as the architect you use.

Myth: Modular and prefabricated homes are of lesser quality or "cheap", partially due to how fast they are constructed. Truth: Actually, panelized, concrete and log homes can often be expensive due to the higher-quality materials used. Lower labor costs and the faster build time may put your budget at about the same as a "stick built" home.

See a modern modular at The Dwell Home. Other great designs are at Modern-modular.com.

Research for yourself on the National Association of Home Builders website.

Southeast Travis County Boom on Way

Central East Austin was one of the undervalued areas in Austin 5 years ago that underwent a massive explosion in price appreciation once the market caught on. Now, Southeast Travis county is finally getting some of that attention.

The Austin Statesman reported at 20-year mixed-use development in Southeast Travis County near McKinney Falls Parkway that may eventually house 30,000 residents. According to the article, "Carma Texas Inc. is proposing a community with 7,500 single-family homes; 3,500 townhouses, lofts and apartments; and 1.2 million square feet of office and retail space."

Although there was controversy around the SH130 Toll Road, you can't deny the fact that any communities along this highway will see significant growth.

Read more about it now! Big mixed-use project set for southeastern Travis.

Unseasonal Rains Impact Development, Economy

This has not been the typical Texas Summer. You may have heard the colloquialism, "Texas heat", which is unlike the dry heat in Arizona and New Mexico.

DEFINITION OF TEXAS HEAT (by Dee):

A phenomena in Texas that occurs when gamma radiation from the sun lunges from limestone buildings and concrete pavements, reaching 100-degrees in temperature before fusing with high humidity to stick to your body without letting go.

...so it's not necessarily gamma radiation, but it sure feels like it since 'gamma' sounds threatening.

August and July temperatures are frequently in the 100s, but we've had historically low-highs the past few months, with some days only reaching the 80s. The unseasonable rains and flooding may severely impact the Texas economy.

There's been countless construction delays for new schools, residential communities and commercial ventures. Summer-driven businesses such as tour companies, hotels, bed-and-breakfast inns, water or outdoor sport-related services, etc. are having their worst season in decades.

Of course, it will take more than rain to take down the Texas economy, but we're waiting to see how badly the rainy season has impacted particular cities.

Link: Rain brings more flooding in Texas.

Read more about the July floods, worst in 50 years.

 

Austin Apartment Still Strong Despite "Overbuilding"

Development in Austin has been noticeably slowing down home sales in some areas. Last year, listings sold within 30 days. This year, home are often on the market for 60-90 days in some of the hottest areas in town. Still, 60 days on the market is great compared to home sales in California and other states.

According to the Austin Business Journal, the Austin apartment market is still strong despite condo conversions and new projects in 2007-2008. Occupancy is almost at 94%, which is the highest it's been in years. Landlords have been raising rents despite over 5,500 units being built soon.

Although technically the Austin market is still hot, it's not on fire in all areas. Sellers who overprice and renters who don't lease a good deal quickly are feeling the pain.

Read about it: Austin real estate still going strong - Austin Business Journal:.

Zilker Neighborhood Association Blesses Barton Place Condos

I'd previously mentioned that Austin is a tough cookie when it comes to developing here. Many believe that our Zoning and Planning Department has "strict" guidelines. In addition, Austin residents have no problems speaking out to approve or disapprove of neighborhood changes. They want new developments to match their needs, desires and current community feel.

Well at another developer got it right! The project team for the upcoming Barton Place Condos in South Central won over neighbors and the City of Austin by getting their input from the very start. The Zilker Neighborhood Association isn't an easy community to win over, but final approvals are in place. The Barton Place Condominiums will be:

• Environmentally friendly. Developers are working with the Austin Greenbuilding Program.
• Limit heights so neighbors can keep their views.
• Not harm Town Lake.
• Retain as many trees as possible.

The downside is that the Pecan Grove RV Park residents will be overlooked. The pricing on the condos are much too high for the current occupants to afford. I still haven't been made aware of the developers are offering affordable housing options, which is a disappointment.

Read more: Neighborhood satisfied with development

Search all condos and lofts online at AustinMLSonline.com.

Houston Real Estate Is Mmm..mmm Good

A lot of real estate investors have been licking their chops to get a taste of the Houston real estate market. It's tough keeping up with the Houston Texas market because the city is the size of a small country.

Here's the latest on some Houston real estate developments:

• Katy will be getting a new overhaul. The Katy economic council recently released their business plan for the area.
  
• Aliana Development has slated a 1.5B mixed-use development for Richmond.
  
• According to the Houston Business Journal, John Laing Homes has purchased Houston-based Lindenwood Homes. John Laing is one of the largest privately held homebuilders and will make a big play on the successful new home market in Houston.
• The Bizjournal also reported an expanding community college. A $7.6 million upgrade will add 70,000 square feet to Houston Community College’s West Loop Campus in Bellaire. The project is part of Houston Community College's $300 million capital improvement plan.

According to other reports, out-of-state firms are scouring Houston's downtown area for building and acquisition. Houston is typically a very stable real estate market. You won't see large swings in appreciation or depreciation, which can be good for buyers or investors who value stability and prefer to live in a large city.

City of Austin buys Emerson campus for $12M

Out of state/city readers may not be familiar with the Cameron Road area in East Austin. I used to work in the area when Apple (Computer), Inc. was located there around 2000-2003. At the time, Cameron Road was all business and no play. There were some apartments, but not many homes or really cool places to shop and eat.

The City of Austin stepped in this past March to buy the Walnut Creek Business Park for $12M and will get started on a $10M renovation. They're relocating some city services to the new area while vacating old buildings near the Mueller Austin redevelopment.

I'm still pushing for Cameron to get a more interesting product mix, but for now at least some makeovers are on the way.

Link: City of Austin buys Emerson campus for $12M

Concordia Unversity to Get $500M Mixed-Use Makeover

It's strange to not hear much about the Concordia University redevelopment. The central Austin university is moving to its new 250-acre campus in northwest Austin. In the meantime, the dogfight for the old campus is over. East Avenue Investment Group was victorious in their bid to create a mixed-use development out of the area.

In 2008, about $2.75M of retail, office, condos and class-A living will emerge. Developers are currently working on infrastracture

Read more: Developer Readies $500M Mixed-Use Project.

Concordia buyers get financing to redevelop.

Controversial Bill Forces Texans to Disclose Sales Price

The new Senate Bill 270 is currently being discussed in legislature. The bill would require Texans to disclose the sales price of a home before the deed can be recorded. This presents a big controversy since Texas is currently a non-disclosure state, which means the sales price of a home is kept out of public record.

HERE ARE THE TWO SIDES

AGAINST: From Houston Real News, Investors

The past President of the Texas Real Estate Investors Association is opposed to Texas Sales Price Disclosure. According to Ms. Crowe-League:

Senate Bill 270 by Wentworth would prohibit the recording of an instrument that conveys real property under a contract of sale unless the instrument contains the sales price of the property...We need to do something...I just feel that it should be your business to know what you paid, and I think people will use it against you if they know what you paid.

New Apple Store to Launch Friday for Grand Opening at The Domain

The Mueller Redevelopment announcement yesterday was pretty exciting because it's one of the largest and perhaps first "extreme makeovers" in Austin real estate history. It's odd that there doesn't seem to be as much news coverage on the Domain in Northwest Austin, another large-scale mixed-use development. A little-know fact is that more affordable housing was available at the community, but it's been snatched up.

In any case, Apple Inc. will add it's stylish high-tech touch to the already high-class retail tenants in the new Domain Mall. The grand opening is scheduled for 10am this Friday, March 9th. The retail leasing agents are currently working on the second phase.

Read more on the Domain Wiki and tell us at you think about the new development!