Texas real estate

The Lone Star State has always held an iconic status in the minds of Americans and, it seems, it’s an image that is also echoed by Brits, across the Atlantic, Australians, across the Pacific and quite possibly just about anyone who thinks of Texas.

Maybe, it’s the enduring image of the Alamo, a bastion holding out against impossible ends to a bitter end, or the fact that Texas, the Rio Grande and cowboy films have created an enduring PR-wave that just promotes and perpetuates an image that is only part-truth and the rest is legend.

Truth is Texas has always been a State that has led the way in a quiet but determined way. This is part of the Texan spirit and it’s no surprise that the Alamo happened here. It’s a case of knowing what’s right and just going ahead and doing it in a way that’s equitable and pioneering.

The case with Texas Real Estate is a case in point even if the parallel between Alamo and real estate appears to stretch the connection. True, in real estate we have not had any threats to deal with as such, barring of course the fear of rising foreclosures and a total collapse of the market thanks to lenders’ over-exposure in the sub-prime mortgage sector, but this has not meant that Texas and Texans have not tackled the real estate market in a way that’s purely Texan in spirit.

At a time when everyone else in the US real estate market was jumping on the bandwagon and promoting every property under the sun as the next thing to sliced bread Texas Realtors were busy creating real value, finding properties that were worth their price and promoting them in ways that did not stretch the truth. As a result Texas real estate prices experienced a gradual, steady increase that gave a good return to those who had invested in a Texas property and helped broaden not just the type of property but also the range of real estate offerings.

Texas is probably unique amongst States in being able to offer properties that range from a Texas lakeside property (complete with its own Texas lake home front) to Texas ranch land, Texas recreational properties (for those who like to hunt or fish) or a Texas property by the sea (yes, we even have surf!). With such a vast range of properties and prices Texas has again defied expectation and led the way by offering a real estate market that has experienced marginal slow down and a slight correction in prices but no real dip in interest.

Texas land has a unique make up which perhaps has gone some way in shaping the Texas character. You can’t spend long here, living under the Texas sky and having that distant horizon remind you of the greatness of this land of ours without developing the steely nerve and clear thinking that characterises Texans.

We lead the way in quiet, unassuming ways (and it’s no accident that Texas has contributed more than it fair share of Presidents to the US supreme office) that mark a steady, progressive and sensible way of doing things, real estate just happens to be the latest front, that’s all.

By: Steve Haines

If there is any positive aspect to the foreclosure crisis that has gripped the U.S. in the past few years, it is that anyone interested in investing in real estate should be able to find appropriate properties at bargain basement prices. Homes can be purchased from banks at far less than their actual value, and business properties are also as affordable. And a very good reason to consider investing in south Texas real estate is because this area is one of the few in the country that is expecting steady population growth over the next several years.

Affordable Residential Real Estate

Unlike other areas of the country that have experienced such a population growth, south Texas real estate has not seen the median price of their residential homes skyrocket in proportion to that growth. This raise in median home prices was seen in California, Florida, and other areas of job growth but has not been seen in areas of Texas. This means that real estate is very affordable and ripe for investment dollars.

Qualified Buyers

In some areas of the country, there are affordable homes and jobs but this doesn’t mean that those jobs are paying enough for people to buy those homes. When it comes to south Texas real estate, this just isn’t the case. According to the Texas Housing Affordability Index, a Texas family earning the statewide median income has 152% of the income required to qualify for financing on the median-priced home. Nationally, families have about 16% more than what is required. Nationally a median home value is 3.62 times the median household income, but in Texas, the median value is only 2.52. This means that not only is there affordable housing in south Texas real estate but plenty of customers that can easily afford those homes as well.

Other Jobs on the Way

When an area of the country experiences a population growth, this means that there is a resultant strain on the area’s infrastructure and resources, but there are tax dollars to correct this. This means jobs are then created to build and repair infrastructure and increase those resources. This means that as the real estate becomes more valuable, more support is needed and then created, which means more jobs and more valuable real estate created.

Some people purchase a vacation home now, intending to move there after retirement but you should remember that your life and your circumstances may be very different when you reach retirement age. When you’re at retirement age, your knees may not appreciate being in a “winter wonderland” when you have arthritis and poor circulation. In order to make your vacation home a proper investment for your retirement years, you need to be practical and realistic. Weather will be a major factor for you to consider when you reach retirement age. Purchasing a vacation home for your enjoyment now can be a great investment for families who are looking forward to a permanent residence upon retirement.

Anyone considering an investment in real estate should consider south Texas. The jobs and economy are headed there, the weather is beautiful, and everything is booming. While no one wants to make light of the housing crisis that’s affecting so many millions, this does mean that there are opportunities for others who want to park their investment dollars in a sure bet. And south Texas may be just the place they’re looking for!

By: David Cowley

Probate is one of the most common and least understood legal proceedings. It basically comprises the settlement of all financial matters pertaining to the estate of an individual after their death. This includes paying any outstanding debts or tax liability, collecting any amounts due to the estate and, where necessary, determining the validity of the decedent’s last will and testament. If no will is found, the probate process typically includes a fair and equitable division of assets among the heirs of the deceased person; in community property states, the entirety of the estate passes to the spouse and no probate proceedings are required. Typically an administrator is appointed to handle the legal and financial concerns of the deceased; this individual is known as the executor, and deals with all administrative concerns relating to the disposition of the estate.

The probate process is generally lengthy, lasting up to a year or more, and typically begins with the appointment of an executor or administrator. Executors are usually specified in the will of the deceased. The executor’s first act is usually to file a Petition for Probate of Will and Appointment of Executor; a hearing is then scheduled to review the will and to approve the selection of executor. Once the will has been certified as genuine, the executor is usually approved to begin the probate process. If no will exists, then an administrator is appointed by the probate court to handle the financial affairs; usually this is a family member or close friend. Both executors and administrators are paid an hourly fee for their services.

The initial stages of the probate process involve itemization, inventory, and appraisal of all assets belonging to the estate. This includes real estate, bank accounts, investments, life insurance policies, and all other items of value that constitute a financial asset. Some assets, including antiques, motor vehicles, and real estate holdings, require a professional appraisal of their value before they are added to the total worth of the estate.

Debts and liabilities are also assessed; typically, these financial responsibilities are dealt with in a predetermined order. A small allowance is sometimes paid to the immediate survivors, including the spouse and children of the deceased. After that, administrative costs are paid first, including the fees due to the executor or administrator. Funeral expenses and burial costs are dealt with next, followed by all other debts and claims. Pending lawsuits against the estate are typically paid after they are decided in court, although a settlement may be offered at any time during the probate process.

Once all outstanding and pending debts have been paid and a legally-required waiting period has elapsed, a final settlement is approved by the probate court and the remainder of the estate is distributed by the executor in accordance with the will or, if there is no will, the administrator makes distribution in accordance with the applicable state law. At this point, the assets of the estate may be directly provided to the heirs in their original form as real estate, financial securities, or other assets, or those same assets may be sold and the proceeds distributed as required by the provisions of the will or state law. This final disposition concludes the probate process and dissolves the estate as a legal entity, allowing the survivors of the deceased closure on the inheritance process.

By: Joe Cline

Rockwall, TX homes are situated in two general parts of town: the northern side and southern side. Homes for sale on the south end are closer to I.H. 30, Heath TX, and various retail shopping and dining locations situated at the intersections of I-30 / Ridge Road / and S.H. 205. Most noteworthy is The Harbor, a new retail, office and entertainment district situated on the lakeside which furnishes residents with public access to the lake, open spaces, a lake view promenade, fountains, and pedestrian walkways all surrounded by excellent entertainment and retail destinations. Anchored by the Hilton Harbor Hotel and the Cinemark 12 Harbor Theater, this town center draws scores of visitors and residents. Just some of the best known tenants include Gloria’s Restaurant & Bar, Dodie’s, The Blue Canyon Kitchen & Tavern, Agave, and Rocky Mountain Chocolate Factory.

The north end of Rockwall provides a more relaxed lifestyle to residents with access to the lake, the courthouse, Downtown Square, and Harry Myer’s Park. Residents enjoy family friendly neighborhoods, open spaces, parks, recreation, fishing, golf and other nearby activities.

Wal-Mart, Bank of America, and Chase Bank are located at the junction of Lakeshore Drive and State Highway 66 while a Tomb Thumb and other ancillary retail stores are under construction at S.H. 205 and Lakeshore Dr. Rockwall, TX homes for sale on the northern end tend to draw people who favor family friendly neighborhoods with less vehicle traffic while still having access to recreational areas, shopping and dining.

The following are some of the more substantial subdivisions located on the north side of Rockwall, TX. Homes for sale vary in price:

The Shores on Lake Ray Hubbard is a residential community consisting of numerous phases surrounding open green areas, parks, Lake Ray Hubbard, and a tremendous golf course. Situated adjacent to the northwest bend of Lakeshore Dr., this master planned community has a broad range of homes at varying price points. With initial development and construction taking place in the 1980′s, portions of the development still spur new construction of custom homes.

The Ridge at Lakeview Summit is a favorite Pulte Homes subdivision, offering a community pool, situated on the south side of Lakeshore Drive on the opposite side of Lakeshore from The Shores. This community is within a short walk of Hartman Elementary School.

On the southern side of Rockwall, look into these outstanding subdivisions:

Lakeside Village is a gated community of approximately 450 homes surrounding a nine-hole, par-three golf course, community pool, splendid lake views, tennis courts, and park areas with the downtown Dallas skyline visible in the backdrop. Ingress and egress from I.H.-30 is very convenient via Village Drive, a.k.a. Horizon Road.

Buffalo Creek Estates encompasses an excellent golf course developed by Jay Morrish and Tom Weiskopf. The community features jumbo lots and custom homes by some of the most respected home builders in the Dallas area. The Buffalo Creek Swim and Tennis Club is a popular destination, particularly in the summer. It sports a 25 meter pool, 5 lighted tennis courts, and clubhouse for its members. The clubhouse could be reserved with or without the pool for large events.

By: David W Simmons

Bats
This southern city has the largest urban bat colony in North America. During the peak population in mid-summer, there are about 1.5 million Mexican free-tail bats that call Austin home. They live underneath the Congress Avenue Bridge. Each night, people gather in a variety of nearby viewing spots in the area to watch the bats stream out into the dark sky on a quest for food. They eat mostly mosquitoes, but will feast on other insects on occasion – but never people. The city has a low mosquito rate, thanks to these little creatures. The bats are about 3 to 4 inches long and weigh in at about a half an ounce.

Texas Longhorns
The University of Texas has its main campus in Austin. Many of the residents are fans of the Texas Longhorns. They cheer them on in all NCAA sports. For those who enjoy a good college match-up catching a football or basketball game is a popular pastime in this city. For those not as into sports as they are into the surrounding festivities, tailgating and neighborhood barbecues are well-attended events in the late summer and early autumn months.

Parade of Homes
Each year, a neighborhood of new homes in the Austin real estate community is featured in the Parade of Homes. This event is put on by the Home Builders Association of Greater Austin. It takes place in mid-October and gives local residents an opportunity to see some of the new innovations available in state-of-the-art homes. Each home has a special theme in its design with different amenities and novelties.

Music Festival
One of the prime musical events of the fall season is the annual Austin City Limits Festival, which takes place at Zilker Park. This musical medley features more than 100 musical acts and takes place on six stages spread throughout the 46-acre site. A family-friendly atmosphere, there is a food court, plus several tents and activities for children, including crafts, sand castle building and musical workshops.

Recreation
The city is home to a number of parks where people can get together and have fun. Fishing, kayaking, hiking, biking, picnicking and camping are all regular recreational activities that take place. Birdwatchers can spot more than 400 different species within a 60-mile radius of the city. For the musically inclined, the Austin Symphony plays free summer concerts on Sunday evenings at the Hartman Concert Park, located on the ground of the Long Center for the Performing Arts.

By: Jeremy P Stanfords

Arlington Texas is a great place to call home because of its fabulous location between Dallas and Fort Worth in the DFW Metroplex.

Arlington offers a number of benefits as listed below:

1. This Dallas / Fort Worth city is located close to DFW Airport making commuting a breeze.

2. Arlington is the chosen location for the new Dallas Cowboy football stadium.

3. The city has many entertainment venues, namely 6 Flags over Texas, Wet-N-Wild and the nearby Ripley’s Wax Museum.

4. The city is the home of the Ballpark at Arlington which hosts the Texas Rangers baseball team.

5. The city has a moderate cost of living and is close to many companies in Dallas and Fort Worth.

6. Arlington is an established city with good roads, restaurants and decent places to shop.

South Arlington is the newer part of the city, split by I-20. South Arlington boasts some of the newer homes (though there are not many new home options in Arlington), as well as the Shops at Arlington which is a huge mall. New shops and restaurants are opening daily in the South Arlington area making this area of town THE place to be on the weekends for residents in Arlington, Cedar Hill, Grand Prairie and Mansfield.

Arlington Texas Real Estate

Arlington Real Estate is already built since the city is pretty much land locked. There is a wide variety of homes in Arlington ranging from under $100,000 up to the Millions. The older Arlington homes are located in the north and central parts of the area, and the newer homes are located in South Arlington near Grand Prairie, Cedar Hill and Mansfield down Cooper Street and past I-20.

Arlington TX Neighborhoods offers a number of older spacious homes in well established neighborhoods such as “Interlochen.” These homes were built in the 1970s and 1980s and have unique layouts and external fascias. There are affordable older homes as well as older luxury homes in the various Arlington neighborhoods

Arlington Texas

Arlington Schools

The Arlington Independent School District which offers elementary, middle and high schools for city residents.

By: Jenna Ryan

Texas real estate has seen a lot of action in the sales of land recently. There are many reasons why people want to buy land. The big question is whether now is a good time to buy.

Certainly, prices are high. Prices for land in rural Texas were over $1600 per acre on average in 2005. This was an increase over the year before. In fact, prices have been going up since the early 1990′s. They are predicted to continue their rise.

This may be an argument for buying will continue to drive the prices up.

One thing you can be sure of is that nothing is guaranteed. However, given all the indicators, it seems that now is as good a time as ever to invest in the Texas real estate land market. Especially if you have cash to invest, it’s a great time to dive right in. Texas real estate now. As land goes up, you will have a chance to see gains on your investment. The trouble is, no one knows how long this trend will continue.

Some feel that it is far from over. Although the past would predict a general cool-off soon if taken as a whole, there are mitigating factors. For one thing, the rise in prices was broken up by a slump in the mid-1980′s. This adjustment will affect when the Texas real estate market for land will slump again.

One new thing that has affected Texas real estate has been the means of payment. For years now, much of the land bought was financed. Now, quite a bit of the land is bought for cash. This is also true of Denton Texas real estate and Plano Texas real estate.

With people buying more often with cash, the risk to them and also to lenders is cut. No more are there so many people that are a few missed payments away from default. These land owners don’t have to worry about that.

Plus, the population of Texas is only bound to increase. This will make Texas real estate rise in price further as people look for land for their new east Texas homes, for example. There will be a scramble for parcels of available land from any source. That’s another reason it’s still a good idea to buy Texas real estate.

Out of state buyers are also interested in Texas real estate [http://mckinneyrealestatetexas.com/texas-homes]. They come with cash to buy up all the land they can for their investment portfolios.

By: Walter Johnston