in this issue…
Putting a Face on Real Estate since 1995™
• HBA/ABoR Housing Forecast • TREPAC Investor Breakfast • AYREP Networking Mixer and much, much more!
You’re in Exceptional Hands!
Amazing Homes Amazing Prices TM
FEBRUARY 2011 • VOLUME 15 • ISSUE 10
www.mybuffington.com
Word on the Street for Market Gains in the New Year
and we are very confident that the strength of KB Home’s home designs and our builtto-order approach will continue to be well received. - Colette Fitzgerald, KB Home
Are you expecting buyer demand to increase, thereby requiring more homes to be built? KB Home’s land team burned the midnight oil in 2010 so we are positioned well to grow our business in 2011. In the Austin area, KB Home had a grand opening celebration in January at its newest community, Lexington Parke in Del Valle. In the coming months, we are opening two new communities in Austin and Leander. Throughout our 16 existing communities, dirt is being moved so we can open new sections to meet buyer demand. Austin is one of the most favorable real estate markets in the entire country
Where do you see the greatest area for growth in the local real estate market? With the United States coming out of one of the biggest recessions in recent history, the greater Austin area continued to shine as one of the top areas in the country for real estate. Austin was ranked as one of the top 10 cities across the country best situated for economic recovery (Newsweek, Nov. 2010) and was also ranked one of America’s 10 most affordable cities in 2010 (Forbes, Nov. 2010). As we all know the real estate market plays a big part in the ability for a Gains: Continued on page 14
RL austin
P. O. Box 81366 Austin, Texas 78708
TM
Putting a Face on Real Estate since 1995
Visit us online 24/7 at www.myRealtyLine.com
Invest in TREPAC to Protect Industry
Y
Presorted Standard U.S. Postage PAID Austin, Texas Paid Permit #715
ou’ve probably heard the term TREPAC, but do you know what it stands for? TREPAC is the Texas Real Estate Political Action Committee. Currently, about one third of the Austin Board of REALTORS (ABoR) membership invests in TREPAC, which protects all REALTORS against such threats as real estate transfer fees, developer fees, abuses by homeowner’s associations, and taxes on professional services. TREPAC’s investor membership is voluntary, non-tax deductible and consists of REALTORS who share a common goal of protecting and preserving private property rights. TREPAC provides REALTORS with proactive insurance against bad proposed public policies and laws that would undermine property rights and constrain REALTORS in conducting their business. Your government affairs department and TREPAC work hand in hand in engaging elected officials and bureaucrats in crafting public policy that will maintain and support private property rights and the real estate industry. TREPAC provides the funds that support candidates, friendly incumbents and issues that protect our industry. TREPAC: Continued on page 14
www.independencetitle.com
Job Growth Expected to Improve Market by Linda McNabb
T
he Austin housing market is poised for recovery this year, according to an array of keynote speakers at the Third Annual Housing Forecast, co-hosted by the Home Builders Association (HBA) of Greater Austin and the Austin Board of REALTORS® (ABoR). The news appeared to please many of the 650 plus real estate professionals who attended the event at the Renaissance Austin Hotel, who had just experienced a year that was not so stellar. “By June, the bottom had fallen out,” said moderator Eldon Rude. “The tax credit ended, there was a debt crisis in Europe and consumer confidence was low as we finalized the year. Starts were down 10 percent. As we look to the future certain headwinds remain, but we are beginning to
see fundamental things that bode well for our market.” Positive job growth is among the key factors, according to Susan Davenport, senior vice president of global technology strategies for the Austin Chamber of Commerce. She cited several impressive statistics that all point to the fact that Austin is a thriving area. “Based on job growth, Austin has fared the recession better than anyone else, not only nationally but globally,” she said, while pointing out the area has higher employment and income. The forecast for job growth is 2.4 percent for 2011, and slightly better at 2.6 percent for 2012, she says, but over a 10-year period it is expected to accumulate Front Page: Continued on page 6
Upcoming Events… February 24 WCAoR TREPAC Bowling Event Mel’s Lonestar Lanes - 2 to 5 p.m. NAHREP Membership Drive Mixer & Silent Auction Baby A’s at Stonelake - 5 to 8 p.m. ABoR TREPAC Chili Cookoff ABoR Auditorium - 5:30 to 8:30 p.m. March 3 Milestone Community Builders Grand Opening REALTOR Preview Southbridge Villas - 11:30 a.m. to 1:30 p.m.
March 8 NAPMW Monthly Luncheon Norris Conference Center 11:30 a.m. to 1 p.m. March 23 HBA St. Patti’s Day Golf Tournament Forrest Creek Golf Club -11:30 a.m. March 24 HBA Crawfish Boil Builder/REALTOR® Mixer Location TBD - 6 to 10 p.m. WCR Monthly Luncheon Cool River Cafe - 11 a.m. to 1 p.m.
More information & events at www.myRealtyLine.com