July 3, 2012
Dallas Boasts Second Lowest Foreclosure Rate
DALLAS (Dallas Morning News) – The Dallas area had the second lowest foreclosure rate in the country in May, according to CoreLogic Inc.
The California-based housing and finance analysts found that about 1.6 percent of Dallas-area homes with mortgages were in foreclosure in May. Only Denver had a lower foreclosure rate, at 1.5 percent.
Nationwide, 3.4 percent of homes with loans were in the foreclosure inventory. At less than 2 percent, Texas is among the states with the lowest inventory of foreclosures.
More Room for Rooms to Go
KATY (Katy Area EDC) – Rooms To Go is preparing to expand its I-10 West distribution center between Katy and Brookshire.
Andrew Day, general manager of the Rooms To Go I-10 Distribution Center, said the completed facility will total about 1.3 million sf and will add about 25 to 50 additional employees to the existing staff of about 300.
When completed in about nine months, the distribution center will rank as the company’s largest regional facility.
Rooms To Go opened the distribution center in the Katy area in 2009 to support its expansion into the greater Houston area, where it now has eight stores.
Taylor Plaza Shopping Center Sold
TAYLOR (Routh Properties) – Routh Properties has purchased Taylor Plaza at 3114 North Main St.
The 126,500-sf shopping center is 70 percent occupied. The anchor tenant is Bealls Department Store. Other tenants are Subway, Dominos, Radio Shack and Steele's.
This is Routh Properties' fifth purchase this year for a total of 814,000 sf in new acquisitions. The company owns and manages 3.5 million sf.
Taylor is northeast of Austin in Williamson County.
Capital City New Home Construction Up
AUSTIN (Austin American-Statesman) – Austin builders started construction on 1,983 houses in second quarter 2012, up 9 percent over the same quarter last year, reports housing research firm Metrostudy.
That number was the highest quarterly total since third quarter 2009, Metrostudy said, when a federal tax credit for first-time homebuyers fueled demand and prompted homebuilders to increase supply.
In other Central Texas housing news, an analysis by the Austin American-Statesman found that the property tax bill for a typical Austin home rose 38 percent between 2000 and 2010, adjusting for inflation, while the median income did not change.
For an average-value home, the tax bill rose from $4,503 in 2000 to $5,590 in 2010, using 2010 real dollars, according to figures from the Travis County tax office.
Here's the Scoop on New KXAS Studio
FORT WORTH (Fort Worth Star-Telegram) – Television station KXAS/Channel 5 has begun construction on a 75,000-sf broadcast facility in the CentrePort Business Park south of Dallas-Fort Worth International Airport.
The eight-acre site at 4805 Amon Carter Blvd. is being developed by KDC. The studio, which KXAS last year announced would cost $16 million, is expected to be completed by the end of 2013. About 300 people will work at the new building.
When the station moves, it will convey its current 66,000-sf building and 26-acre site in east Fort Worth's Meadowbrook neighborhood to the city.
Water Rights Workshop Next Month
COLLEGE STATION (AgriLife Today) – The Texas Water Resources Institute will host an advanced Water Rights Analysis Package workshop Aug. 30–31 at Texas A&M University.
Designed for engineers and scientists employed by water agencies and consulting firms, the workshop will cover advanced aspects of the Water Rights Analysis Package. According to AgriLife Today, the analysis package is a "generalized modeling system for simulating the development, management, allocation and use of the water resources of a river basin."
The workshop will be held at the Spatial Sciences Laboratory, 1500 Research Pkwy., from 8:30 a.m.–5 p.m. both days.
Early registration is $875 up to July 17. After that, cost is $900. Registration deadline is Aug. 17.
Nothing But News
COLLEGE STATION (Real Estate Center) – If you'd like more Texas real estate news, check out NewsTalk Texas, our searchable online database. Here's a sample of what you'll find there this week:
- Land swap at A&M Kingsville a win-win
- Titan levels ground in Levelland
- Killeen ISD centers on trades
- El Paso’s Montecillo begins senior apartments
- Lubbock IMAX reels in milestone
NewsTalk Texas is updated each weekday, throughout the day.