in this issue…
Putting a Face on Real Estate since 1995™
• AMBA Holiday Roaring Gatsby Soiree & Installation Banquet • WCR Installation Banquet • WCREALTORS Installation & Awards Banquet • and much, much more!
TM
JANUARY 2017 • VOLUME 21 • ISSUE 9
Will City of Austin's new road bond make a difference? By Riki Markowitz
Visit us online 24/7 at www.myRealtyLine.com
P. O. Box 81366, Austin, Texas 78708
TM
austin
RL
Putting a Face on Real Estate since 1995
Printed on recycled paper.
Presorted Standard U.S. Postage PAID Austin, Texas Paid Permit #715
Austin legislators have always operated on the notion that “If we don’t build it, they won’t come.” Whenever the city proposed widening roads or adding highway flyovers in the past, locals scoffed. They were content enough with their cozy capital city. But as time went on, city planners could no longer ignore the fact that
Austin was falling sorely behind on infrastructure improvements, especially concerning roads and transportation. A couple of decades on, after an unprecedented population explosion, addressing Austin’s reduction of quality of life – thanks in part to constant snarling traffic – is no longer negotiable or acceptable.
Voters Pass the 2016 Mobility Bond On Election Day, 59 percent of voters went to the polls and approved the much-needed mobility bond. It was cause for celebration. This past autumn, the Austin Board of REALTORS’ (ABoR) Legislative Management Team also put its support behind the plan. What ABoR and voters approved is a $720 million resolution that will improve conditions on major corridors including, but not limited to, Loop 360, FM 2222, 183, and Parmer Lane; as well as Airport Blvd., North and South Lamar and Burnet. Funds have also been earmarked for signal improvements, bike lanes and sidewalks. Also part of the proposition are studies that will go toward improving regional transportation issues in the future. According to Sara Behunek, corridor communications manager for the city of Austin, “Desired outcomes of the bond measure include making key transportation
Featured Event Thursday January 26th, 4-7 p.m.
See more on page 31
corridors more livable, walkable, safe, and transit-supportive, among other priorities.”
Impact on the Real Estate Industry These improvements were proposed for the purpose of making life easier – and better – for everyone living, working and visiting Austin, but real estate professionals are on a trajectory to benefit more than most other industries as a whole. One of the most obvious advantages is that REALTORS will get around the city faster. The can also assure prospective buyers that a six-mile drive to work at 9 a.m. won’t take 45 minutes.
A Board Divided Most arbiters of the bond believed real estate professionals would welcome the measures with open arms. But it turns out that some REALTORS are indifferent to the proposal, at best, or just do not see the pluses, even with ABoRs’ full support of the proposition. The 2017 ABoR President, Brandy Guthrie, speaks for the organization when she says, “The passage of the mobility bond was a big step forward, in the beginning, to relieve traffic congestion throughout Austin and improve mobility for all modes of transportation.” Guthrie also believes it will help make roads and walkways
around schools safer. And going forward, as Austin continues attracting more homebuyers, professionals and visitors “ABoR will continue to advocate for initiatives that allow for greater infrastructure funding and improvement." Jennifer Archambeault, broker/owner at Urban Provision, REALTORS, admits that at first, she believed the resolution would not have much impact. She has since come around – or at least now feels divided. Widening certain corridors, she says, would add traffic and noise to areas like Parmer and Slaughter. On the other hand, “enhancing these smaller roadways, including William Cannon, Burnet, and Lamar will hopefully provide easier ways to navigate the city.” As a result, this would allow homebuyers to consider areas they would not previously even entertain because right now, commutes can be so debilitating. Others who are lukewarm on the mobility bond say it will take years before we know if the construction was worth it. Shawn Rooker, REALTOR at Realty Austin, says he voted for Prop 1, but not necessarily because he saw it as a sure thing. “There were no real clear choices. I voted for it mostly because it was better than nothing, and mostly not harmful.”
Front Page: Continued on page 28
Features of the Month Column: ABoR—New Year means new beginnings. . . . . . . . . . . . . . . . . . . . . . . .pg. 3 Column: WCAoR—Sparkle & Shine . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . pg. 5 Column: HBA—Parade of Homes progress party Jan. 26th . . . . . . . . . . . . . . . . . . pg. 15 Associates in Progress: Stewart Title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . pg. 25 Expert Commentary: VA Home Loan Benefits. . . . . . . . . . . . . . . . . . . . . . . . . . pg. 27 News & Notes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . pg. 30 Upcoming Events. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . pg. 31