RECON for October 8, 2019RECON for October 8, 2019Bryan PopePope

RECON Real Estate Center
Home with foreclosure sign
High home values have pushed home foreclosure rates across the country to the lowest level in 20 years. Only 0.4 percent of U.S. homes were in foreclosure in July. How do Texas' major metros compare? Keep reading today's RECON to find out. (Photo from Center files.)
October 8, 2019

North Texas foreclosure rate at 0.2 percent

​DALLAS (Dallas Morning News) – ​​Only 0.2 percent of North Texas homes were in foreclosure in July, according to CoreLogic data.

During the worst of the recession in 2010, about 1.5 percent of all area home loans were in foreclosure.

In Dallas-Fort Worth, 3.7 percent of home mortgage holders were one or more payments late. 

With higher home values, fewer homeowners with loans are underwater, making foreclosure less likely.

"The strong performance of the DFW economy has led to a sound housing market," said Real Estate Center Research Economist Dr. Luis Torres. "The metro has had vigorous job growth. Migration of companies and people caused housing prices to rise and home equity to increase, leading to a fall in foreclosure rates."

​Austin-Round Rock had the lowest foreclosure rate of the major ​Texas metros at 0.1 percent. It also had the lowest​ mortgage delinquency rate at 2.3 percent. 

San Antonio-New Braunfels and Houston-The Woodlands-Sugar Land had foreclosure rates of 0.3 and 0.4 percent, respectively. San Antonio's delinquency rate was 4.9 percent, and Houston's was 4.7 percent.

Nationally, 0.4 percent of homes were in foreclosure—a 20-year low. The mortgage delinquency rate w​as also at a two-decade low at 3.8 percent.

The Real Estate Center has Texas housing activity data online for free.

134K-sf World Houston 44 breaks ground 

HOUSTON (Houston Business Journal) – EastGroup Properties has broken ground on World Houston 44, a 134,415-sf industrial development at 4120 Consulate Plaza Dr.

The $44 million project will feature 32-ft clear heights, an ESFR sprinkler system, 39 dock doors, four oversized drive-in ramps, 185-ft to 200-ft truck courts, 225 parking spaces, and 30 trailer parking spaces.

The site also includes 2.4 acres for fenced-in outdoor storage. 

Delivery is set for March 2020.

Method Architecture designed the facility, and Rosenberger Construction is the general contractor. InSite Realty will lease the property.​
Sketchy drawing of commercial buildingsThe Real Estate Center's Texas Quarterly Commercial Report looks at past, present, and future commercial real estate activity in the state's four major metropolitan areas. It covers the office, retail, and warehouse sectors. Read and download the report for free, and subscribe to know when the next issue is published. 

Frisco's tallest building preparing to open

FRISCO (Dallas Morning News) – Atlanta-based Novare Group is wrapping up construction on SkyHouse Frisco Station, a 25-story apartment tower within the Frisco Station mixed-use development.

The 322-unit building is on the west side of the Dallas North Tollway near John Hickman Pkwy.​​ It will be the tallest​​ building in the city.

Monthly rents range from $1,400 for a studio unit to $4,000 for the largest three-bedroom.

Amenities include a coworking and business center, tenant lounge, fitness center, swimming pool, and outdoor terraces.

The tower is being built in partnership with Batson-Cook Development. Balfour Beatty Construction is the general contractor.
NewsTalk Texas logoHungry for more Texas real estate news? Then feast your eyes on NewsTalk Texas, our online news database. Here are a few of the stories you'll find there this week: NewsTalk Texas is updated each weekday, throughout the day. 

240-bed Austin State Hospital breaks ground

AUSTIN (Community Impact Newspaper) – The Texas Health and Human Services Commission and the University of Texas Dell Medical School have broken ground on the first round of construction at the 240-bed Austin State Hospital.

The new three-story, 380,000-sf mental health facility will replace old buildings currently on the ​campus along Guadalupe St.

Opened in 1867, the original Austin State Hospital was the oldest mental health facility in Texas.

The project is one of five across the state to restore or reconstruct psychiatric health facilities.

Lawmakers have approved $180.5 million of the $304.6 million project budget.

Construction will finish by June 2023.​
man holding soilTexas A&M University researchers want to hear from Texas row-crop farmers. They are interested in your soil management practices and how you value soil health when purchasing or leasing land. If you are a row-crop farmer in Texas, please consider taking this 20-minute survey. The results will aid policy makers in making informed decisions that benefit the soil and farmers of Texas.

Work starts on 834K-sf Sam Houston Distribution Center 

HOUSTON (REBusiness Online) – Transwestern Development Co. has broken ground on Sam Houston Distribution Center, an 833,720-sf industrial project at the corner of Fallbrook Pines Dr. and Windmill Park Rd. 

The Class A development will consist of three front-load and cross-dock buildings ranging from 138,720 to 494,800 sf​. Ceiling heights range from 32 to 36 ft.

The property has land for added trailer storage or a build-to-suit opportunity, as well as space for car parking and trailer stalls.

Completion is set for second quarter 2020. 

Lincoln-Kor advances Eastbound

AUSTIN (Austin Business Journal) – Dallas-based Lincoln Property Co. and Fort Worth-based Kor Group are developing Eastbound, an office project at 3232 E. Cesar Chavez St.

The project will feature 221,000 sf of office space spread across two four-story buildings. There will also be a parking garage.

Amenities include a bicycle storage room, communal workspace, conference center, rooftop terrace, restaurant, and shower-equipped locker rooms.  

Floorplates will range from 13,983 to 41,348 sf.

Construction starts early next year. 
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Construction begins on Greens Prairie Reserve 

​​​​​​COLLEGE STATION (The Eagle) – Locally based Oldham Goodwin Group LLC is starting the first phase of home construction at Greens Prairie Reserve.

The 370-acre development at the intersection of William D. Fitch Pkwy. and SH 6 will have an all-purpose sports field, community event center, ponds, and 12 miles of trails.

Lots range from 70 ft​ to one acre.

The project will open​ in spring 2020. 

Katerra plans 600K-sf San Marcos manufacturing facility

SAN MARCOS (Connect Media) – Menlo Park, Calif.-based Katerra is developing a 600,000-sf manufacturing facility near I-35 and Yarrington Rd.   

The $109 million facility will be a regional hub for the company and will ship cabinets, windows, walls, floors, and roof tresses.

Construction starts in December.  
Communication Matters video seriesThe Real Estate Center's Texas Home Price Index measures price appreciation changes for residential single-family homes. It provides data for eight different Texas metros across three different price ranges.

PREP Property Group acquires 611K-sf shopping center

CEDAR HILL (Connect Media) – PREP Property Group is buying Hillside Village, a 611,232-sf shopping center, from Trademark Property. 

The center is 16 miles southwest of downtown Dallas on US 67.

Tenants include Dick's Sporting Goods, Dillard's, Barnes & Noble, Old Navy, Ulta, H&M, Champ's, Victoria's Secret, and Express.

Amenities include an interactive fountain, children's play area, village green, and an electronic vehicle charging station.​

FGF Brands baking up 600 jobs at new HQ

​​​​​SAN ANTONIO (Connect Media) – Toronto-based FGF Brands is developing a $129 million manufacturing plant and U.S. headquarters on 100 acres at 6425 SH 151.

The project ​will add 600 new jobs.

The baked goods maker is building the facility with $1.7 million in tax abatements from Bexar County. ​​
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Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder. The Real Estate Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

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